Bitcoin Today: Bitmain hashrates and Bittrex fiatsPrice
As was expected, the overbought market did not manage to break 8500 level and went into a mild correction, establishing supportive 8200 level, where most of the supply (profit-taking) and demand (rally pursuers) finds a consensus for the second day. 7600 – 8000 zone and an upcoming meeting with the Bullish Trend Line should support the uptrend rally scenario, nonetheless even in such case we expect the movement to stop for the larger correction at the 10000 – 9000 zone. In case of downwards movement, support levels are 8000, 7600, 100-days EMA.
Today forecast
Trading in the 8000 – 8500 zone. Possible upward rally to the 8800 – 9000 zone.
Latest News
Bittrex added the possibility of withdrawing the US dollar for individual users
The Bittrex Exchange has announced that the deposit and withdrawals of the fiat US dollar are now available for individual and corporate clients. However, while this option is available only to residents of California, Washington, New York and Montana.
In May, Bittrex entered into an agreement with the New York bank Signature Bank, which allowed the trading platform to add support for the US dollar.
Twit on July 23:
“Bittrex retail (personal account) customers: If you reside in WA, CA, NY, MT and qualified international regions, you might be eligible to join @BittrexExchange Fiat (USD) trading markets…”
Bitmain discloses its hashing powers in response to accusations of hidden mining
Bitmain has made another disclosure of the hashrate of its mining machines in a fresh attempt to address accusations that it is capable of controlling the Bitcoin network through hidden hashing power. Bitmain operates two mining pools - Antpool and BTC.top – and directs its equipment to them. However, some accuse the leading ASIC producer of running brand-new machines for months before selling them.
For the SHA-256 mining algorithm, Bitmain has 1,692.05 PH/s, which is, in fact, a minuscule part (around 4%) of the current hashrate. For the entire Bitcoin network, mining right now reaches 45,565.5 PH/s, already a near-record level and continuously rising. The results surprised the Bitcoin community, especially since the Bitmain pools currently control around 35% of the hashrate.
Still, the pooled mining power may belong to third parties, and Bitmain has shown its side of the equation.
This Bitmain report, which in the future intended to become a regular monthly publication, was met with considerable skepticism by the community.
Also, Bitmain has denied accusations of running its new market rigs for profit before selling them. Additionally, the company has promised not to mine empty blocks and has stated that occasional empty blocks may happen due to problems in the Bitcoin protocol, but those are not intentional.
To track the propagation of new ASIC and avoid accusations of keeping the machines running before market, a new Antminer Twitter account has been created. The account will offer production and shipping statistics for newly released machines.
Bitmain states it owns just 339 GH/s in mining power for the Ethereum network, out of more than 292,711.4 GH/s for the entire network in its recent near-record levels. Bitmain has been accused of being behind the significant rise in Ethereum mining, but so far, the company has shown only a small collection of machines. Given that one E3 miner runs at around 180 to 205 MH/s, Bitmain perhaps operates less than 2,000 machines.
For the Scrypt algorithm, Bitmain revealed just 44.19 GH/s, not enough to make a dent on Litecoin, let alone go near a 51% attack.
