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      "title": "Bitconnect Shuts Down Its Exchange Citing a String of Excuses",
      "body": "In a move that will surprise few observers, Bitconnect has announced that it is closing its lending and exchange platform. The company has widely been accused of operating a Ponzi scheme and was recently rocked by cease and desist notices in two US states. Immediately after the firm declared its intention to wind things up, its BCC coin plummeted from $290 to under $10 before recovering slightly. With the exchange offline, many holders have been left locked out and powerless to sell their heavily deprecated assets.\n\n\nBitconnect Bids Bye Bye\nPressure has been mounting on Bitconnect for months, with leading figures within the crypto community, from Vitalik Buterin to Jameson Lopp, speculating that the exchange was not all it was cracked up to be. News.Bitcoin.com reported on these rumors back in November before revealing, less than a fortnight ago, that the company had been slapped with an emergency cease and desist order in Texas. Among many red flags to have set alarm bells ringing were Bitconnect’s extremely odd marketing videos, described by one commenter as being “like scientology merged with hillsong infused with dorks and used car salesmen”.\n\nBitconnect Shuts Down Its Exchange, Citing a String of Excuses\n\nIn an update posted on the Bitconnect website, the company said it was halting its lending and exchange service due to the spate of cease and desist notices coupled with “bad press” and a string of DDoS attacks. Unfortunately, due to the ongoing DDoS attacks, the blog post can’t be accessed at this time. The “bad press” that Bitconnect cites, otherwise known as accurate reporting, has been invaluable in helping guide crypto newcomers away from the platform.\n\nBitconnect Shuts Down Its Exchange, Citing a String of Excuses\n\nA Secret Blend of Herbs and Spices\nThe exact workings of Bitconnect’s secret sauce that purportedly makes its investors generous returns has never been disclosed, but the general consensus is that the whole operation is little more than a pyramid scheme. It is almost certain that Bitconnect’s “intelligent trading bot” which makes profitable trades and then shares those dividends with the community, does not exist.\n\nBitconnect Shuts Down Its Exchange, Citing a String of Excuses\nThe currently inaccessible news story Bitconnect released on Tuesday\nIt is not clear whether the news of Bitconnect’s lending service shutdown heralds the end of the company altogether, although it is hard to imagine it being able to limp on in any shape or form after shuttering its main hub. DDoS attacks are a tactic that a number of deep web marketplaces have used to sow confusion ahead of an exit scam. It is impossible to ascertain the origins of the distributed denial of service the site is under, though it it is not beyond the realms of possibility that the attack may have originated from close to home.\n\nBitconnect Shuts Down Its Exchange, Citing a String of Excuses\n\nBitconnect Token Falls Through the Floor\nHistorically, Bitconnect’s BCC token has been remarkably stable, maintaining steady growth in a pattern not dissimilar from that of bitcoin. But as news.Bitcoin.com noted back in November:\n\nWith most of the BCC in existence locked in the company’s exchange, if its founders were to perform an exit scam or wind up behind bars, millions of dollars of bitcoin would instantly be locked up and BCC would be rendered worthless.\n\nThat prophecy has now come to pass. Coinmarketcap reports zero trade volume on the Bitconnect platform in the last 60 hours, leaving its token still listed at $290 there. On other platforms though, such as Coinexchange, which recorded 24-hour BCC trade volume of $1.26 million, the token dropped to $8 before recovering to around $25 at the time of publication. Coinmarketcap, the web’s go-to cryptocurrency checker, has previously come in for criticism for hosting ads promoting Bitconnect. Coincodex, in comparison, has elected to post a notice alongside BCC warning investors away. Its CEO Marko Stokelj previously told news.Bitcoin.com:\n\nBitconnect employs a number of dubious methods in order to operate and promote its business. The business model outlined by the company is economically unsustainable with the current level of returns unable to be validated by any legally known investment system.\n\nWhile some observers in the crypto community may feel a touch of schadenfreude at Bitconnect’s demise, it is worth being mindful of the many victims who will have suffered heavy losses. Thanks to its marketing strategy, including use of referral schemes, Bitconnect preyed on newbs who lacked the necessary understanding to differentiate legitimate cryptocurrencies from get rich quick schemes.\n\nBitconnect Shuts Down Its Exchange, Citing a String of Excuses\n\nIf the news emanating from Bitconnect’s 404’d website does prove to be terminal – and it’s hard to imagine the company coming back from this – there will at least be some good to come out of this story. A number of similar sites with names such as Ethconnect have appeared in recent months, each with the same opaque business model. The fall of Bitconnect will hopefully serve as a warning to other crypto startups not to go down the same route. For Bitconnect bag-holders, though, this cautionary tale will provide little consolation.",
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      "title": "80 Percent of the Total Bitcoin Supply Have Now Been Mined",
      "body": "@@ -853,8 +853,131 @@\n ply cap.\n+!%5BScarcity-1068x1068.jpg%5D(https://steemitimages.com/DQmSddEpiZk9MupdghbqcjAuiKYKHeq6BHA8LrhAJdRk9ze/Scarcity-1068x1068.jpg)\n",
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      "permlink": "80-percent-of-the-total-bitcoin-supply-have-now-been-mined",
      "title": "80 Percent of the Total Bitcoin Supply Have Now Been Mined",
      "body": "There Are Only 4.2 Million Bitcoins Left to Mine\n80 Percent of the Total Bitcoin Supply Have Been MinedSo far on January 13, 2018, 16,800,000 BTC have been mined and there’s only 20 percent left for miners to acquire. When Satoshi Nakamoto introduced the bitcoin protocol to the public by launching the codebase in 2009, the cryptocurrency came with a capped supply. The supply will never be increased and Nakamoto set the number to 21 million bitcoins ever to be found. So far the creator’s plan and miners securing the network have successfully secured this rule from changing with hashpower. Theoretically, however, skeptics believe there could be a way to increase the supply through manipulative tactics such as a 51 percent or Sybil attack. As the digital asset’s life approaches a decade no one has been able to break the rules of 21 million supply cap.",
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      "parent_permlink": "bitcoin-cash-miners-process-big-blocks-past-24h-volume-approaches-litecoin",
      "author": "cheetah",
      "permlink": "cheetah-re-zeecu1bitcoin-cash-miners-process-big-blocks-past-24h-volume-approaches-litecoin",
      "title": "",
      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\n`https://www.youtube.com/watch?v=tRQFg4kTO3Q`",
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  "timestamp": "2018-01-15T16:34:54",
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      "parent_author": "zeecu1",
      "parent_permlink": "pineapple-will-match-up-to-usd4m-in-bitcoin-to-test-curing-ptsd-with-psychedelic-drug",
      "author": "cheetah",
      "permlink": "cheetah-re-zeecu1pineapple-will-match-up-to-usd4m-in-bitcoin-to-test-curing-ptsd-with-psychedelic-drug",
      "title": "",
      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\nhttps://news.bitcoin.com/pineapple-will-match-up-to-4m-in-bitcoin-to-test-curing-ptsd-with-psychedelic-drug/",
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{
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  "timestamp": "2018-01-15T16:06:06",
  "op": [
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      "parent_permlink": "bitcoin",
      "author": "zeecu1",
      "permlink": "bitcoin-cash-miners-process-big-blocks-past-24h-volume-approaches-litecoin",
      "title": "Bitcoin Cash Miners Process Big Blocks Past 24h – Volume Approaches Litecoin",
      "body": "About 24-hours ago bitcoin cash (BCH) miners were processing a ton of large blocks between 2-8MB in size. Fees have remained considerably low, and the bitcoin cash daily transaction volume is nearing the same amount of transactions as the litecoin network.\n\n\nBitcoin Cash Miners Are Clearing 8MB Blocks In One Fell Swoop\nBitcoin cash miners have been processing more larger blocks than usual over the past 24-hours, and many of them have been 8MB in size. There have been roughly 34,352 BCH blocks mined since August 1 and BCH is 8,714 blocks ahead of the bitcoin core chain. According to statistical data websites like Johoe’s mempool page, 2-8MB blocks have been clearing the BCH mempool (transaction queue) consistently. Over the past six months, the median BCH transaction (tx) size of 226-bytes costs $0.01-0.02 per tx. Average BCH fees have never exceeded more than 11 cents for median 226 sized transactions.\n\nBitcoin Cash Miners Process Big Blocks for the Past 24-Hours\nBCH miners have been processing 2-8MB blocks for the past 24-hours.\nSkeptics Say No One Uses It But BCH Daily Transaction Volume Is Catching Up With the  Litecoin Network\nThe bitcoin cash community has been excited about mining pools processing larger sized blocks over the past day. Mining pools processing 2-8MB blocks include Antpool, Viabtc, BTC.top, and four other BCH mining operations. Bitcoin cash block intervals have been taking place roughly every 10-20 minutes according to Coin Dance Cash statistics.\n\nBitcoin Cash Miners Process Big Blocks for the Past 24-Hours\nBitcoin cash mempool over the past 30 days. Source: Johoe’s Cash statistics.\nWith fees so low, and the BCH mempool clearing so quickly many skeptics say the BCH network isn’t used much. However, the bitcoin cash 24-hour transaction rate has been climbing exponentially, and after six months of use, the network is close to being on par with the litecoin network’s daily transaction rate. In fact, the BCH daily transaction rate eclipses nearly 90 percent of the 1,300 other digital assets listed on Coinmarketcap.\n\nBitcoin Cash Miners Process Big Blocks for the Past 24-Hours\nBitcoin cash daily transaction volume is catching up with the litecoin network, and BCH usage continues to climb.\nBitcoin Core: $15-50 Transactions at Any Given Time and Over 100,000 Unconfirmed Transactions Never Clear\nAt the time of writing the BCH transaction queue has only 10,000 unconfirmed transactions in the mempool. Meanwhile, the bitcoin core blockchain’s mempool is full and has been for weeks on end. This weekend’s bitcoin core unconfirmed transaction count is considered low but still has over 157,000 unconfirmed transactions waiting to be processed.\n\nBitcoin Cash Miners Process Big Blocks for the Past 24-Hours\nBitcoin core (BTC) unconfirmed transactions on Sunday, January 14, 2018.\nJust 2-3 weeks prior, when the price of BTC was closer to $19K, those numbers were upwards of 250,000 to a 300,000 all-time high. At the time users were paying over 1,000 satoshis per byte, whereas at the moment most BTC users are spending an average of 500 satoshis/byte. This means using the bitcoin core network the median transaction size of 226 bytes results in a fee of 113,000 satoshis or $16 per transaction.\n\nBitcoin Cash Miners Process Big Blocks for the Past 24-Hours\nBitcoin core (BTC) mempool over the past 30 days. Source: Johoe’s Mempool statistics.\nMultiple Inputs Make BTC Transactions Even More Costly\nOver the past few weeks, the bitcoin core mempool has not dropped lower than 100,000 backed up transactions which has kept the fee market above $15 and upwards of $50 in some cases. Further, the $16 applies to only 226-byte transactions which typically have very little inputs. Bitcoin core transactions with multiple inputs (a feed of data) will charge a lot more for the fee, and some businesses are paying thousands of dollars to send funds. BCH transactions with multiple inputs and more than 226-bytes cost only a few pennies more to process.\n\nBitcoin Cash Miners Process Big Blocks for the Past 24-Hours\nAccording to Earn’s Fee statistics, the average fee for the bitcoin core network is $16 per transaction. Transactions bigger than 226 bytes and multiple inputs will cost more in fees.\nA Great Example of Big Blocks in the Wild\nThe past 24-hours of big block mining has been a great example of seeing the chain operate this way. People can see how it affects the fee market, block intervals, and the processing of unconfirmed transactions in an on-chain environment. In addition to the bigger blocks since the hard fork, last November the BCH chain has kept an almost perfect profit parity with the BTC chain. This means the wild fluctuations between block intervals are gone, and miners are not bouncing back and forth between chains these days keeping things more consistent.",
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  "timestamp": "2018-01-15T15:36:51",
  "op": [
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      "parent_permlink": "bitcoin",
      "author": "zeecu1",
      "permlink": "pineapple-will-match-up-to-usd4m-in-bitcoin-to-test-curing-ptsd-with-psychedelic-drug",
      "title": "Pineapple Will Match up to $4M in Bitcoin to Test Curing PTSD With Psychedelic Drug",
      "body": "The bitcoin charity Pineapple Fund has already donated $1 million to aid in the testing of MDMA as a treatment for PTSD. It is now challenging the cryptocurrency community to donate more, and pledged to match donations up to $4 million.\n\n\nCuring PTSD with MDMA\nPineapple Will Match up to $4M in Bitcoin to Test Curing PTSD With Psychedelic DrugPineapple Fund, the $86 million bitcoin charity, has announced it will double the value of every donation to the Multidisciplinary Association for Psychedelic Studies (MAPS) until March 10th, up to $4 million. This is meant to help the non-profit research organization reach its funding goal needed to begin Phase 3 clinical trials of MDMA-assisted psychotherapy in patients with severe post-traumatic stress disorder (PTSD). The pledge comes after the fund has already donated $1 million to this endeavor.\n\nPine, the anonymous bitcoin whale behind the fund, commented: “I believe we, the cryptocurrency community, can fully fund Phase 3 trials. Prescription MDMA could be a gift to this world from the bitcoin community. Let’s make MDMA medicine a reality, and give the gift of an enjoyable life to those suffering from PTSD. If you believe that psychedelic drugs can have incredible therapeutic potential, then I believe this is one of the highest impact projects today.”\n\nNew Money, New Ideas\nPineapple Will Match up to $4M in Bitcoin to Test Curing PTSD With Psychedelic DrugThis donation shows another example of how, the redistribution of wealth from old money to early adopters of technology via the rise of bitcoin is creating a positive change in the world.\n\nMainly known as an illicit party drug under the names Ecstasy, Molly and others, MDMA still doesn’t have any accepted medical applications and is deemed illegal for personal use in most countries. While some established charities would have difficulties associating themselves or their donors with such an experiment, a fund created by an anonymous person will have no such qualms.\n\nOther recent Pineapple Fund donation recipients include: Quill, which got $1 million to help them develop a new open source educational model that teaches kids critical thinking and science comprehension; Possible, an organization delivering integrated and scalable healthcare in Nepal which also got $1 million; Software Freedom Conservancy, home to projects like Git, Homebrew, QEMU, and Selenium; and Wings for Conservation, which is providing aerial support against elephant poachers in Chad. Last month the fund also donated $5 million to test universal basic income in Africa.",
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      "parent_author": "zeecu1",
      "parent_permlink": "this-week-in-bitcoin-kraken-korea-and-a-whole-lotta-crazy",
      "author": "coin.info",
      "permlink": "re-zeecu1-this-week-in-bitcoin-kraken-korea-and-a-whole-lotta-crazy-20180115t031208011z",
      "title": "",
      "body": "**Coins mentioned in post:**\n\nCoin | | Price (USD) | 📉 24h | 📉 7d\n- | - | - | - | -\n**BTC** | Bitcoin | 13747.800$ | _-4.58%_ | _-15.27%_\n**DCN** | Dentacoin | 0.003$ | _-30.04%_ | _-58.11%_\n**XRP** | Ripple | 1.859$ | _-5.88%_ | _-39.45%_\n**ZEC** | Zcash | 665.488$ | _-6.95%_ | _-19.57%_",
      "json_metadata": "{\"app\":\"coininfo/1.0.0\",\"format\":\"markdown\"}"
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