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5 Feb 2026, 21:03

Daily Bitcoin mining revenue fell to $28 million, the lowest level seen this year

Bitcoin miners are now earning just $28 million a day. That’s the lowest they’ve made all year. The crash in revenue comes as the price of Bitcoin sinks and electricity bills go through the roof. Many of the big mining companies are powering down their machines. It’s just not worth keeping them on anymore. The hash price index, which shows how much money miners make for every unit of computing power, has dropped to 3 cents per terahash, based on data from Luxor Technology. Back in 2017, it was $3.50. That’s a total collapse. Mining difficulty is also expected to fall by more than 13%, which would be one of the biggest drops since the China crackdown in 2021. Newhedge says this is already locked in for the next adjustment. Companies slash operations and scramble for backup plans Bitcoin dropped below $70,000 on Thursday. That price hit made things even worse for miners. Over the past few months, as traders got liquidated and crypto slid lower, mining profits kept getting squeezed. Some mining companies like CleanSpark and Terawulf have been trying to pivot. They’ve started using their mining buildings to host AI chips instead. But most of their actual cash still comes from mining, not from artificial intelligence. Harry, who runs the business side at CleanSpark, called this the worst drop since the China ban. “It is due to the combination of both the sell off and winter storms,” he said. That same day, mining stocks tanked. CleanSpark lost 10%, Terawulf dropped 8.5%, MARA Holdings fell 11%, and Riot Platforms slid 4.8%. Wall Street was not in the mood to wait this out. Source : Luxor Technology Mining Bitcoin burns a lot of energy. These companies have borrowed billions to buy custom machines and pay electricity bills that can hit tens of millions every month. They earn their reward in Bitcoin by keeping the network running. But when the token price falls too far or power gets expensive, they shut off machines. No one mines at a loss. The latest problem came from a January winter storm that slammed the U.S. Electricity costs shot up across the country. States like Texas and Tennessee, which usually welcome crypto miners, got hit hard. Some companies were able to flip their power back to the grid through demand response programs. The rest just shut down. Crypto winter continues as OGs take profits and buyers vanish This isn’t just a bump in the road. It’s a full-on freeze. Matt from Bitwise Asset Management said this is “not a dip,” calling it a “Leonardo DiCaprio in The Revenant-style crypto winter.” He said this collapse was triggered by leverage and old Bitcoin investors cashing out while retail traders took the hits. Matt believes this whole thing started back in January 2025, but no one noticed because big investors were still pouring money into crypto. That distracted everyone from the real damage happening to small traders. “Good news doesn’t matter,” Matt wrote. He said things like Wall Street hiring more crypto teams or banks getting involved won’t stop the bleeding right now. “Crypto winters don’t end in excitement; they end in exhaustion.” He listed a few things that could end this mess: a good economy, a surprise law win like the Clarity Act, or a country deciding to adopt Bitcoin officially. But the most likely fix? Time. Bannister from Stifel added another reason for the crash. Tech credit is in trouble. And since people treat Bitcoin like a risky tech stock, that’s dragging it down too. Crypto winters usually last about 13 months. If this one started when Matt says, then the end might be close. But that doesn’t help miners today. Their revenue is gone. Power prices are up. And the machines are off. Everyone’s waiting. Join a premium crypto trading community free for 30 days - normally $100/mo.

5 Feb 2026, 18:30

Ethereum Price Prediction: Can ETH Reclaim $3,000 in 2026?

The question of whether Ethereum can reclaim the $3,000 mark is a top crypto topic as we move through 2026. While the market has seen periods of growth, the path back to previous highs is met with both technical hurdles and a shift in how people invest. Many are now looking past the older, high-cost assets to find newer crypto protocols that offer more room for growth. Ethereum (ETH) Ethereum currently trades in a volatile range, with its market cap sitting in the hundreds of billions. While it remains the leader for smart contracts, its massive size makes it harder to see the explosive gains it once had. Currently, ETH faces strong resistance zones near $2,800. For it to break $3,000 and stay there, it needs a massive influx of new capital. Many investors feel that the easy gains on Ethereum are over. Because the price is already high, a 10% move requires billions of dollars. This has led many to track new crypto projects with lower entry points. These next crypto generation protocols often provide higher upside potential while building on top of the security that Ethereum already provides. Mutuum Finance (MUTM) One new cheap crypto project gaining huge momentum is Mutuum Finance (MUTM) . It is building a dual-market system for lending and borrowing. The first part is the Peer-to-Contract (P2C) market. Here, lenders put their assets into shared pools and receive mtTokens. These tokens are special receipts that grow in value automatically. For example, if you supply USDT to a pool with a 10% APY, your mtTokens simply represent more USDT over time as borrowers pay interest. The second part is the Peer-to-Peer (P2P) marketplace. This is built for direct deals where users can set their own terms. It uses a Loan-to-Value (LTV) system to keep things safe. For stable assets like ETH, you can get an LTV of up to 75%. This means $1,000 of ETH lets you borrow $750. If the value of your collateral drops too much, an automated bot triggers a liquidation to pay back the lenders. This ensures the system stays healthy even when prices move fast. Security, Trust and MUTM Growth Trust is the most important part of any DeFi crypto. Mutuum Finance recently completed a full security audit with Halborn , one of the top firms in the world. They checked the code for any weak spots to make sure user funds are safe. The project also has a high score of 90/100 from CertiK and a $50,000 bug bounty to reward anyone who finds a bug. The funding journey has been a massive success, with over $20.2 million raised so far. There are now more than 19,000 holders part of the ecosystem. To keep the community active, the team runs a 24-hour leaderboard. Each day, the person who contributes the most wins a $500 bonus in MUTM tokens. This has created a very loyal and growing group of supporters. V1 Protocol Launch and Future Roadmap The V1 protocol launch on the Sepolia testnet has transformed the project from a concept into a fully operational platform. This environment allows the community to interact with a high-fidelity version of the final ecosystem. A major part of this release is the introduction of live liquidity pools for four key assets: WBTC, USDT, ETH, and LINK. Users can supply these tokens to the pools to provide depth to the market or use them as the foundation for borrowing. On the other side, the protocol uses Debt Tokens to track liabilities. When a user borrows against their collateral, these tokens are minted to represent the exact amount of the debt plus interest. To keep the system safe, an Automated Liquidator Bot constantly monitors the health of every loan. If collateral value drops too low, the bot triggers a liquidation to protect the lenders. By testing these features now, the team has proven that the core lending engine is ready for the next stages of the roadmap. The MUTM presale is currently in Phase 7, and it is selling out very quickly. The price is set at $0.04, but the official launch price is confirmed at $0.06. This gives new participants a 50% jump in value. With the testnet live and the audit finished, many believe this is the next crypto to watch as it prepares for its full debut. For more information about Mutuum Finance (MUTM) visit the links below: Website: https://www.mutuum.com Linktree: https://linktr.ee/mutuumfinance

5 Feb 2026, 18:06

Bitcoin drops under $70,000, pushing miners into losses

Bitcoin’s recent sell-off has pushed its price below $70k, putting intense pressure on miners. The crypto asset is trading at $69,280, while miners’ production costs are $87k. Bitcoin fell below $70k on Thursday, prompting miners to capitulate. The sharp decline has forced many miners into unprofitability. At $70k, Bitcoin is trading about 20% below its estimated production cost, putting intense pressure on mining operations. According to data from Checkonchain, the average cost to produce one bitcoin is around $87,000. Bitcoin prices fall below production costs, signalling a bear market Data from previous market cycles show that when Bitcoin prices fall below production costs, it typically signals an ongoing bear market. In 2019 and 2022, BTC fell below production costs but later recovered. Data from Hashrate Index shows that Bitcoin hashrate, which is a measure of the total computational power needed to secure the Bitcoin network, currently sits at 915.85 EH/s. The hashrate peaked in October at 1.1 ZH/s, but later dropped by double digits as miners shut down less efficient mining equipment. BTC hash price, the value of 1 TH/s of hashing power per day, has declined to $31.56 from a high of $42.11 recorded in mid-January. The recent BTC price decline has pushed miners into uncharted territory, as they struggle to remain afloat amid unprofitability at current BTC prices. Most Antminer S21-series machines, which represent a large portion of modern global hashrate, have shut down, and the miners are now forced to sell their BTC holdings to meet their day-to-day expenses and cover energy costs while servicing existing debt. BTC’s decline has also caused a ripple effect on the rest of the crypto market. Digital assets such as Ethereum have also sunk along with it, affecting crypto corporations and individual investors. Ethereum is trading at $2,052, down from $4,742 recorded in October. BitMine Immersion Technologies is currently sitting at nearly $7 billion in unrealized losses on its ETH holdings, accumulated since it turned away from Bitcoin mining in mid-2025. Bitcoin’s price decline coincides with ETF outflows registered this week. As of February 4, spot U.S. BTC ETFs logged $544.94 million in outflows according to data from ETF tracking website SosoValue. BlackRock’s iBIT led the funds with negative flows worth $373.44 million, while Fidelity’s FBTC followed with outflows worth $86.44 million. The outflows on Wednesday continued from Tuesday’s $272.02 million outflows. On Monday, the funds recorded inflows of $561.89 million, ending a five-day streak of negative flows that began on January 27. BTC capitulation is back, onchain data shows A previous Cryptopolitan report noted that BTC capitulation is back. The report cited Glassnode data showing the Bitcoin capitulation metric spiked again, returning to levels not seen since the October 10 deleveraging. The report noted that the recent crypto market sell-off is the second-largest meltdown in the last two years. The report also revealed that Bitcoin has never returned to the previous levels of open interest, as concerns of liquidations among derivative traders rose. The publication noted that all wallet cohorts have sold BTC in the last month, with Shark wallets holding 100-1,000 BTC selling 83,771 BTC in January and 19,194 BTC in the past week alone. 30,000 retail wallets holding less than a full Bitcoin sold all their holdings in the past day, despite having bought the crypto asset in the last month. At the time of this publication, Bitcoin is trading at $69,280, the lowest price since November 3, 2024, according to data from CoinMarketCap. The digital asset is down 7.5% over the last 24 hours, bringing its 7-day loss to 20.94%. Bitcoin is down 44% from its all-time high of $126,198, recorded about 4 months ago on October 06, 2025. If you're reading this, you’re already ahead. Stay there with our newsletter .

5 Feb 2026, 17:45

Bitcoin Mining Revenue Gauge Falls to Record Low During Selloff

A closely-watched measure of Bitcoin mining revenue has dropped to the lowest on record with more of the large-scale computing outfits that make the cryptocurrency work unplugging equipment while prices tumble and energy costs climb.

5 Feb 2026, 17:40

Bitcoin Price Prediction: Bill Miller’s Crucial $60K Bottom Estimate Signals Market Stability

BitcoinWorld Bitcoin Price Prediction: Bill Miller’s Crucial $60K Bottom Estimate Signals Market Stability In a significant development for cryptocurrency markets, legendary hedge fund manager Bill Miller has provided a crucial Bitcoin price prediction, estimating the digital asset’s potential bottom around the $60,000 level. This analysis comes from Miller Value Partners’ Chief Investment Officer, whose track record with value investing brings substantial weight to cryptocurrency discussions. The statement, made publicly on social media platform X, references fundamental blockchain metrics and mining economics rather than speculative sentiment, offering investors a data-driven perspective during volatile market conditions. Bill Miller’s Bitcoin Analysis and the $60,000 Foundation Bill Miller’s Bitcoin price prediction carries particular significance given his historical investment performance and recent public advocacy for cryptocurrency. The hedge fund manager specifically identifies $60,000 as a critical level for several technical and fundamental reasons. First, this price point approximately corresponds to the current global average cost of Bitcoin mining, creating what economists call a “production cost floor.” When asset prices approach production costs, market dynamics typically shift as less efficient miners exit the network. Furthermore, Miller highlights on-chain data showing that at this price level, the number of Bitcoin addresses in profit roughly equals those at a loss. This equilibrium often signals potential market bottoms according to blockchain analysts. Historical data from previous cycles shows similar patterns where Bitcoin found support near production costs during consolidation phases. The analysis provides context for investors seeking to understand market structure beyond short-term price movements. Mining Economics and Bitcoin’s Fundamental Value The relationship between mining costs and Bitcoin’s market price represents a fundamental economic principle rarely discussed in mainstream cryptocurrency coverage. Mining involves substantial energy consumption and hardware investment, creating a baseline production cost for new Bitcoin entering circulation. When prices fall significantly below this cost, mining operations become unprofitable, leading to reduced network hash rate and eventual supply adjustment. Industry data from 2024 shows the global average Bitcoin mining cost ranged between $58,000 and $65,000 depending on energy prices and hardware efficiency. This creates a natural economic floor, as sustained prices below this level would force widespread mining shutdowns. Miller’s analysis recognizes this fundamental relationship, distinguishing it from purely technical chart analysis. The insight reflects his value investing background, where production costs often determine long-term price support for commodities. On-Chain Metrics and Market Psychology Beyond mining economics, Miller references specific on-chain metrics that professional cryptocurrency analysts monitor. The relationship between addresses in profit versus loss provides insight into overall holder psychology and potential selling pressure. When most addresses remain in profit, holders may take profits during rallies. Conversely, when most addresses show losses, selling typically decreases as holders wait for recovery. The equilibrium point Miller identifies suggests balanced market psychology where neither excessive greed nor fear dominates decision-making. Historical blockchain data confirms previous Bitcoin market bottoms formed under similar conditions. This objective metric offers investors a measurable framework rather than relying on sentiment alone. The approach demonstrates how traditional investment analysis adapts to cryptocurrency markets through blockchain transparency. Historical Context and Previous Market Cycles Bitcoin’s price history reveals patterns relevant to Miller’s current analysis. During the 2018-2019 bear market, Bitcoin found support near mining costs after its dramatic decline from all-time highs. Similarly, the 2022 market bottom occurred as prices approached production costs for efficient miners. These historical precedents support the concept of mining economics creating natural market floors. Miller’s previous prediction from last month, suggesting Bitcoin would reach new all-time highs this year, provides additional context for his current analysis. The hedge fund manager appears to view the $60,000 level as a consolidation point within a broader bullish trajectory rather than a long-term ceiling. This perspective aligns with his public statements about Bitcoin’s growing adoption and institutional acceptance over recent years. Institutional Perspective on Cryptocurrency Valuation Bill Miller represents a growing cohort of traditional finance professionals applying established valuation frameworks to digital assets. His analysis combines elements of commodity valuation (mining costs) with network value assessment (on-chain metrics). This hybrid approach reflects cryptocurrency’s unique position between commodity, currency, and technology asset classes. The Miller Value Partners’ involvement in cryptocurrency markets signals broader institutional acceptance beyond speculative trading. Professional investors increasingly recognize Bitcoin’s distinct characteristics, including its predictable issuance schedule and transparent blockchain data. Miller’s public commentary provides retail investors insight into how sophisticated market participants analyze cryptocurrency fundamentals during volatile periods. Market Implications and Investor Considerations Miller’s Bitcoin price prediction carries several practical implications for market participants. The identification of a potential support level around $60,000 provides a reference point for risk management strategies. Investors can monitor this level alongside other indicators like trading volume and derivatives market positioning. However, experienced analysts emphasize that no single metric guarantees price action, especially in volatile cryptocurrency markets. The analysis also highlights the importance of fundamental factors alongside technical chart patterns. While social media often focuses on short-term price movements, production costs and on-chain data provide longer-term context. Investors increasingly recognize that cryptocurrency markets mature as institutional participation grows, potentially reducing extreme volatility over time. Miller’s commentary contributes to this maturation by applying traditional investment frameworks to digital assets. Conclusion Bill Miller’s Bitcoin price prediction identifying $60,000 as a potential market bottom represents significant analysis from a respected traditional finance figure. The estimate derives from fundamental factors including mining economics and on-chain metrics rather than speculative sentiment. This approach provides investors with a data-driven perspective during uncertain market conditions. While cryptocurrency prices remain volatile, such fundamental analysis helps establish reasonable expectations about support levels and long-term valuation frameworks. As institutional participation in cryptocurrency markets increases, traditional investment principles increasingly intersect with blockchain technology, creating more sophisticated analysis for all market participants. FAQs Q1: What specific metrics does Bill Miller reference for his Bitcoin price prediction? Miller cites two primary metrics: the approximate global cost of Bitcoin mining (around $60,000) and on-chain data showing equilibrium between addresses in profit versus loss at that price level. Q2: How does mining cost relate to Bitcoin’s market price? Mining cost creates a production floor; sustained prices below this level make mining unprofitable, potentially reducing supply and creating upward price pressure as less efficient miners exit the network. Q3: Has Bitcoin found support at mining costs in previous market cycles? Historical data shows Bitcoin often found support near production costs during the 2018-2019 and 2022 bear markets, though specific price levels varied with changing mining efficiency and energy costs. Q4: What is the significance of addresses in profit versus loss? This metric indicates overall holder psychology; equilibrium suggests balanced sentiment where neither excessive greed nor fear dominates, potentially signaling consolidation periods. Q5: How does Miller’s analysis differ from typical technical analysis? Miller focuses on fundamental factors like production costs and blockchain data rather than chart patterns alone, applying traditional value investing principles to cryptocurrency markets. This post Bitcoin Price Prediction: Bill Miller’s Crucial $60K Bottom Estimate Signals Market Stability first appeared on BitcoinWorld .

5 Feb 2026, 16:05

Bitmain’s ETH Loss: The Staggering $8 Billion Unrealized Blow to Crypto Mining Giant

BitcoinWorld Bitmain’s ETH Loss: The Staggering $8 Billion Unrealized Blow to Crypto Mining Giant In a revelation that underscores the volatile nature of cryptocurrency investments, data analytics firm Dropstab estimates that Bitmain Technologies, the world’s dominant ASIC miner manufacturer, faces an unrealized loss exceeding $8 billion on its substantial Ethereum holdings. This staggering figure, emerging from a period of significant market correction, places a harsh spotlight on the financial strategies of one of crypto’s most influential companies. The analysis, based on verifiable on-chain data and corporate disclosures, reveals a holding of approximately 4.29 million ETH acquired at an average price of $3,825, now languishing well below that threshold. Consequently, this situation prompts serious questions about balance sheet health and long-term viability in the evolving proof-of-stake landscape. Decoding Bitmain’s Massive Ethereum Unrealized Loss Dropstab’s analysis provides a clear, data-driven snapshot of Bitmain’s financial exposure. The company reportedly holds a treasury of about 4.29 million ETH. Furthermore, the average purchase price sits at $3,825 per coin. Given Ethereum’s current market price, which remains substantially lower, the paper loss balloons to an estimated $8.01 billion. This figure represents one of the largest single-entity unrealized losses publicly identified in the cryptocurrency sector. Importantly, an “unrealized loss” signifies a decrease in the value of an asset that is still held, not sold. Therefore, the actual financial impact depends entirely on Bitmain’s future actions regarding its ETH treasury. The scale of this holding is monumental. For context, 4.29 million ETH represents a significant percentage of Ethereum’s total circulating supply. This fact alone makes Bitmain a whale whose potential market moves could influence liquidity and price discovery. The accumulation strategy likely stemmed from years of Ethereum mining revenue prior to The Merge, which transitioned the network to proof-of-stake in September 2022. During that era, Bitmain, through its mining operations, amassed ETH directly as block rewards. Subsequently, the company apparently chose to retain a vast portion as a strategic asset on its balance sheet, a decision now under intense scrutiny. The Strategic Calculus Behind the Holdings Industry experts point to several potential rationales for Bitmain’s large-scale ETH retention. Initially, ETH served as a primary revenue stream from GPU mining operations. After The Merge, holding the asset could represent a long-term bet on Ethereum’s ecosystem growth and value appreciation. Additionally, large holdings can provide leverage within the ecosystem, enabling participation in governance or staking. However, the decision to not hedge or diversify this position aggressively has now resulted in a colossal paper loss. Market analysts note that other major crypto-native companies often employ sophisticated treasury management strategies, including converting mining proceeds to stablecoins or other assets to mitigate volatility risk. Broader Implications for the Cryptocurrency Mining Sector Bitmain’s predicament is not an isolated incident but rather a symptom of broader challenges facing the cryptocurrency mining industry. The sector has historically operated on thin margins, heavily dependent on asset prices and energy costs. A sharp decline in the value of mined and held assets can quickly erode equity and operational capital. This $8 billion unrealized loss highlights a critical vulnerability: over-reliance on the appreciation of a single, volatile treasury asset. Consequently, this event may catalyze a shift toward more conservative corporate finance practices across the mining industry. The situation also reflects the ongoing transition from the proof-of-work era. Companies like Bitmain, which built empires on mining hardware sales, must now navigate a landscape where their core expertise holds diminishing relevance for major assets like Ethereum. This transition forces a strategic pivot. Will these firms become pure asset holders, venture investors in new protocols, or diversify into other computational fields like AI? Bitmain’s handling of its ETH treasury will be a closely watched case study. The company’s next moves—whether holding, staking, or selling—will send powerful signals to the market about its confidence and strategy. Balance Sheet Pressure: Large unrealized losses can affect a company’s ability to raise capital or secure loans, as lenders assess asset values. Market Sentiment: The revelation can impact investor and customer confidence in Bitmain’s financial stability. Industry Reckoning: Other mining firms may face similar, though smaller, exposures, prompting sector-wide risk reassessment. Comparative Treasury Management Contrasting Bitmain’s approach with other crypto giants is instructive. Public companies like Coinbase or MicroStrategy actively communicate detailed treasury management strategies. MicroStrategy, for instance, has consistently added to its Bitcoin holdings through debt and equity raises, framing it as a primary corporate strategy. Conversely, private entities like Bitmain have been less transparent. This lack of clarity often fuels market speculation during downturns. The Dropstab estimate, therefore, serves as a rare window into the substantial risk concentrated on the balance sheet of a pivotal, yet opaque, industry player. Historical Context and Market Cycles To fully understand the significance of an $8 billion unrealized loss, one must view it through the lens of cryptocurrency market cycles. The bull market of 2020-2021 saw ETH reach an all-time high near $4,900 in November 2021. Bitmain’s average purchase price of $3,825 suggests accumulation across various periods, potentially including the market peak. Since then, Ethereum, like most crypto assets, has experienced a prolonged bear market and significant correction. This cycle is not unprecedented; similar drawdowns followed previous bull markets in 2013 and 2017. However, the sheer monetary scale of losses today is unprecedented due to the market’s increased total capitalization. Historically, major industry players who survived severe drawdowns did so through prudent risk management, diversification, and maintaining operational liquidity. The key question for Bitmain is whether it has sufficient cash flow from its core hardware business and other investments to weather the storm without being forced to sell ETH at a loss. A forced, large-scale sell-off could create additional downward pressure on the ETH market, creating a negative feedback loop. Market observers are therefore monitoring on-chain wallets associated with Bitmain for any signs of movement from its dormant holdings. Conclusion The estimated $8 billion unrealized loss on Bitmain’s Ethereum holdings represents a critical moment of financial reckoning for the mining hardware titan. This situation, uncovered through rigorous data analysis, transcends a simple paper loss and delves into core issues of strategy, transparency, and risk management in the volatile cryptocurrency industry. While the loss remains unrealized, its sheer magnitude underscores the profound impact of market cycles on corporate treasuries. Moreover, it highlights the strategic challenges legacy mining firms face in a post-proof-of-work world. The broader market will watch closely to see if Bitmain’s ETH loss becomes a catalyst for change in how crypto-native companies manage their assets, or merely a historic footnote in the industry’s turbulent financial evolution. The outcome will significantly influence perceptions of stability and sophistication within the sector for years to come. FAQs Q1: What is an “unrealized loss”? An unrealized loss, also called a paper loss, occurs when the current market price of an asset falls below its purchase price, but the asset has not yet been sold. The loss is not locked in until a sale transaction occurs. Q2: How did Dropstab estimate Bitmain’s ETH holdings and loss? Analytics firms like Dropstab use on-chain analysis to track wallet addresses believed to belong to large entities. By examining transaction histories and known corporate disclosures, they can model average purchase prices and calculate paper gains or losses against the current market price. Q3: Does this mean Bitmain has lost $8 billion in cash? No. This is an accounting loss on paper, not a cash outflow. Bitmain’s actual cash position is separate. The loss only becomes real if Bitmain sells its ETH at current lower prices. Q4: Could Bitmain’s situation affect the price of Ethereum? Potentially. If market fear arises that Bitmain might be forced to sell a large portion of its holdings to raise cash, it could create selling pressure. Conversely, if Bitmain holds or even stakes its ETH, it could signal long-term confidence and reduce sell-side liquidity. Q5: What can other crypto companies learn from this? This highlights the critical importance of transparent treasury management, diversification, and hedging strategies. Relying heavily on the price appreciation of a single volatile asset poses significant balance sheet risk, especially for companies with substantial operational costs. This post Bitmain’s ETH Loss: The Staggering $8 Billion Unrealized Blow to Crypto Mining Giant first appeared on BitcoinWorld .