Blockchain Bites: Filecoin Strike, Bitcoin Fees Fall, Coinbase Censorship
Five Filecoin miners have gone on strike. Bitcoin miners are seeing depressed earnings. And Binance is closing its Jersey branch.
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The Filecoin project has surely seen a lot of hype but during the last few weeks before the launch, the cooperative digital storage crypto project has been criticized a great deal. This weekend a few Filecoin miners have been on strike and claim the economic model is not working out for them. Just recently the Filecoin (FIL) token offering has been a topical conversation, as the project joins the cryptocurrency economy. Moreover, controversy recently surrounded the project when the crypto community questioned the movement of 800,000 FIL tokens. Now another story is arising that shows a few....
“Miners are following the protocol, and making a ton of money doing so,” said Juan Benet on Twitter. Juan Benet, the creator of Blockchain-based data storage platform Filecoin, has called allegations that miners of its token have been on strike since Saturday “nonsense.”According to a report by 8btc.com, five of the largest Filecoin miners turned off their machines to protest the project’s “unfair” economic model, which currently requires a significant amount of FIL tokens to begin mining. Crypto Twitter user Nico Deva was one of the first to claim that “a majority of miners” were on....
Some of the largest Filecoin miners stopped mining on Saturday, complaining the project’s mining incentive scheme has made it impossible for the miners to start operations.
Jack Mallers takes on Coinbase and its “asinine” trading fees. Payments platform Strike has announced that it will allow U.S. customers to buy and sell Bitcoin with almost no trading fees from today.In an announcement on July 1, Strike founder and CEO Jack Mallers launched a salvo at leading U.S. cryptocurrency exchange Coinbase, stating that his platform will set out to be the “cheapest and easiest place on the planet to acquire BTC."The move also puts Strike in direct competition with Jack Dorsey’s Square and with PayPal, which started offering crypto assets within the platform to U.S.....
Crypto M&A deals are on pace to surpass last year, CFTC Chairman Tarbert is "impressed" with Ethereum and Filecoin flies.