All transactions on the bitcoin network are not created equally. A coinbase transaction is a unique type of bitcoin transaction that can only be created by a miner. This type of transaction has no inputs, and there is one created with each new block that is mined on the network. In other words, this is the transaction that rewards a miner with the block reward for their work. Any transaction fees collected by the miner are also sent in this transaction.
Although there haven’t been any huge announcements for new Bitcoin mining hardware lately, there’s still been plenty of Bitcoin mining-related news that has come out recently. The first-ever Bitcoin conference that focused on mining above everything else took place in Las Vegas, and Butterfly Labs is still trying to figure out how to keep operating while they are under investigation. Let’s take a look at the biggest news stories in Bitcoin mining from the past few weeks.
Bitcoin enthusiasts are always looking for new places to spend high-tech currency, and it seems to get easier every day. While there is no shortage of companies accepting digital currency in the United States, there are certainly a few places that stand out. Boston, San Francisco, New York, Miami, and Las Vegas all have active communities that regularly meet, discuss, and support the Bitcoin technology. Here are few places worth visiting:
Crowdfunding is quickly becoming one of Bitcoin’s “killer apps”, but it’s easy to get confused when there are so many different crowdfunding platforms available in the cryptocurrency ecosystem. One of the main value propositions of Bitcoin is that it cuts out the middlemen, and there are few different projects, looking to bring that concept to the crowdfunding space. In the future, it’s possible that supporters will be able to connect directly with campaign creators rather than going through a centralised third party. Let’s take a look at some of the innovations in crowdfunding related to Bitcoin to see which option could go mainstream in the near future.
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The past two weeks have been approaching a bottoming out of the bear from the $650 highs of July. We saw a bottom confirmed by a clear hammer at the lows of $275. Since then, it has been a bull climb from these lows in the past and has played out as we covered last week. The bitcoin price made a breakout from a triangle that formed sideways.