Bitcoin On-Chain Data Reveals Chinese Mining Pool Behind Its Crash
An otherwise decentralized cryptocurrency, Bitcoin, might have become a victim of a centrally orchestrated price dumping attempt. According to data fetched by CryptoQuant, a South Korea-based blockchain analytics firm, Bitcoin miners at Chinese mining firm F2pool started the massive sell-off that crashed the BTC/USD exchange rate by almost 20 percent in just less than 24 hours. Oversupplied Bitcoin CryptoQuant CEO Ki-Young Ju listed a series of bearish alerts he received when Bitcoin started plunging on […]
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China is one of the major economies and a regional superpower in Asia. The vast country with the highest population in the world is also the country that tops the charts with the highest hashing power. The Chinese Bitcoin community is actively involved in Bitcoin mining operations and the Chinese mining pools are in control of the majority of overall Bitcoin mining. According to the latest data available on Blockchain.info, the top three Bitcoin mining pools are AntPool, F2Pool, and BTCC Pool. AntPool is a mining pool operated by the company known for AntMiner ASIC miners, BitMain while....
A U.S. publicly-listed Chinese sports lottery firm is extending its arms into the crypto industry by announcing another related maneuver. 500.com Ltd announced it has acquired Btc.com, the well known bitcoin mining pool. Jihan Wu Is the ‘ Biggest Beneficial Owner’ of the Mining Pool Per the announcement, the online lottery service provider bought the company from Blockchain Alliance. 500.com performed the transaction by issuing newly class A shares, representing almost a 10% stake in the listed Chinese company. According to the filings, 500.com Ltd made the share exchange....
BTC China has announced it is expanding its range of digital currency services with the addition of a new mining pool and merchant payments processing. It marks another step on the company's transition from simple exchange to an integrated services platform, and reflects a recent diversification trend among Chinese digital currency businesses. The company said in a statement: "BTC China's expanded portfolio covers all aspects of the digital economy, allowing a user to mine bitcoin and litecoin in its mining pool, store it in BTC China's wallet, pay for goods through its payment gateway,....
CoinTelegraph spoke with the creator of the first bitcoin mining pool of the world, Slushpool, which has released its Chinese version targeting the untapped potential of the growing Asian market. Slushpool belongs to SatoshiLabs based in Prague, Czech Republic. As one of the earliest Bitcoin companies, SatoshiLabs also operates bitcoin hardware wallets named Trezor and Coinmap used to check the merchants who accept bitcoin worldwide. Marek Palatinus, who is also known as “slush” to many people, is the architect of the Slushpool, which launched in 2010, to become the first bitcoin mining....
BTC Pool Party Data Center Building In Progress. BTC Pool Party is a new Bitcoin mining pool that has gone into operation in the last few months. With so many mining pools and centralization driving several to close, a new pool is almost unheard of. When CCN contacted BTC Pool Party, an interesting person in the Bitcoin mining hardware business turned out to be a very big part of it. Juan Garavaglia, the CEO of 112bit.com, is the VP in charge at BTC Pool Party. He is the lead Bitmain authorized distributor for the US and Canada and sells to Bitcoin miners of all sizes with some very large....