MAR 6 DIGEST: Third US Marshals Bitcoin Auction Sees Increased Bidder Interest, Study Suggests Miners Lose Money

The US Marshals Service announced that 14 bidders participated in yesterday's auction of 50,000 BTC, a university study suggests that most BTC miners lose money, and more top-stories for March 6.

Third US Marshals Bitcoin Auction Sees Increase in Bidder Interest

The US Marshals Service (USMS) has announced that 14 bidders participated in yesterday's auction of 50,000 BTC, placing 34 bids over the course of the six-hour event.

The figure was up slightly from the 11 bidders and 27 bids entered in December's auction, but down from the 45 bidders and 63 bids during the first auction in June, 2014.

Academic Paper Suggests Bitcoin Miners Lose Money

A paper published by researchers from the New York University Polytechnic School of Engineering provides insight into the world of bitcoin mining and reveals the reason why many bitcoin miners struggle to break even.

The authors, Luqin Wang and Yong Liu, collected data on the bitcoin blockchain from the creation date of the genesis block to March 11 2014, which includes 290,089 blocks and 34,646,076 transactions, providing for a very thorough – although perhaps slightly outdated – research.

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