Halving Event

Monday August 5th saw the advent of the Litecoin Halving event, whereby the block reward for miners was reduced by half. The Litecoin network is designed to halve the rewards produced through mining the coin every 840,000 blocks, an event which occurs roughly every 4 years. The Litecoin block height of 1,680,000 was reached on Monday, triggering the halving, thus reducing the block mining reward from 25 LTC to 12.5 LTC.

The total number of Litecoin currently in circulation lies around 63 million, with the total number of Litecoins to be produced being 84 million.The remaining 21 million Litecoin block mining rewards represent approximately $2.65 …

BTC on the Rise

Bitcoin’s price has this week increased above 11,000 USD for the first time since passing the milestone in mid July, peaking above 12,250 USD before stabilizing somewhat in the mid to low 11,000’s to end Tuesday. Wednesday has seen it yet again pass the 12,000 threshold, with analysts believing that the hurdle will prove significant in restarting the Bitcoin price rally.

A number of factors contributing to volatility in the currency’s price, such as the U.S. Senate’s hearing over Facebook Libra, led to a decline towards the end of the month, with lows of $9,350 observed. …

Two weeks after the Libra Senate Hearing, the US Senate Banking Committee held an official hearing on the regulation frameworks that currently exist in the crypto industry in the US, and whether those regulations are helping or hurting consumers using financial services.

With the conversations fixated on the Libra project and its potential development for worldwide use, the Senate has established various concerns on the idea that a big, global corporation like Facebook will be overseeing billions of user data points and facilitating financial payments. However, there are other small and medium enterprises that are making waves in the market.

Although it is evident that blockchain technology has proven to be secure and efficient, the hearing has addressed valid concerns on further expanding crypto adoption for the everyday consumer to shift innovation and technology trends. …

RICHMOND HILL, Canada — Coinberry, Canada’s most innovative and trustworthy digital currency platform, has begun negotiations with the City of Richmond Hill to provide a robust cryptocurrency payment processing solution. This takes place after Council voted on July 10, 2019 in favor of entering into an agreement with Coinberry, to provide an option for property tax payment in Bitcoin for residents and businesses of the City of Richmond Hill.

Coinberry leads the way in Bitcoin adoption in Canada- announces second municipal partnership, with City of Richmond Hill, to process tax payments made in Bitcoin.

The announcement marks Coinberry’s second municipal partnership in less than six months, and illustrates a growing move towards the implementation of real world digital currency solutions. …

We’re officially back and better than ever with a new installment of our This Week in Crypto series!

There have been several interesting and game-changing announcements, projects, and developments happening this week that you need to know.

Let’s jump right in.

1 — Corporations are Using Blockchain Technology in their Supply Chain

Major companies including Walmart and Target are investing into blockchain technology solutions that will increase data transparency in their supply chain. This means eliminating inefficiencies like lost packages, strengthening transaction security, and being able to track data to its original source.

A blockchain supply chain is a sustainable technology trend — which is great news for those who love getting their packages delivered on-time and for firms looking to make their business run efficiently. …

Please welcome a new superstar to the Coinberry features roster! Our development wizards at Coinberry have implemented a systematic crypto purchasing feature called AutoPilot.

AutoPilot might seem like a new concept for crypto but is, in fact, a known strategy in investing, for the long term, called dollar cost averaging.

When markets fluctuate a user can purchase cryptocurrency for a lower cost in a falling market, will not time their purchase to avoid a peak in a rising market, and will stay invested in a rather flat market — ensuring that over the long run the troughs and the highs will average themselves out leading to an “average” cost which could reduce exposure to the volatile crypto market fluctuations — avoiding the strong temptation to “time the market”. …

We are extremely excited to announce that Coinberry has been selected for Collision Conference 2019 BETA track of successfully launched start-ups to watch. The Conference takes place in Toronto from May 20–23. Keep an eye out because we will be making some amazing partnership announcements at the conference!

Collision’s “Tracks” Explained

The companies chosen to exhibit at Collision are assigned in the ALPHA, BETA, or START category, depending on their size, revenue, and scorecard (growth potential, impact, product and team, pitch quality, and cool factor). Collision’s categories ALPHA, BETA and START explained:

• ALPHA: Company is pre-investment stage or has under $1 million in funding. …

INNISFIL, Ontario — The Town of Innisfil will be the first municipality in Canada to accept cryptocurrency (e.g. Bitcoin) as a method of payment for property taxes. Last night, Innisfil Council voted in favour of forming an agreement with the Toronto-based company, Coinberry Limited, who will provide the service for residents as part of a one-year pilot project.

“Once again, we are proud to be first in taking this bold step by offering this new, exciting payment option to our residents,” said Innisfil Mayor Lynn Dollin.

“There’s no doubt that cryptocurrency is growing in usage and popularity. By getting into this now, we are making sure our municipality is ahead of the game, and signaling to the world that we truly are a future-ready and innovative community.” …