NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

BlockTrail’s Mint Trying to Claim Its Pound of Flesh

Gautham
Gautham
4 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin has been around for about 6 years now and one of the main reasons for it to become popular is its use in illegal transactions. In its early days, bitcoin was adopted as a safe and anonymous payment method for buying, selling drugs and other contraband. Platforms like Agora and the now defunct Silk Road have been running exclusively on bitcoin.

As time progresses, these older bitcoins have seen a lot of transactions, many of them illegal. We know that the complete transaction history of each bitcoin can be accessed from the Blockchain. There are many tainted bitcoins out there which were part of illegal deals and some people may prefer not to use due to possible legal repercussions. This makes freshly minted bitcoins more attractive as they wouldn’t have a long transaction history.

Freshly minted bitcoins are usually awarded to miners and until now there was no single place available where one could exchange old bitcoin for newly minted ones. BlockTrail, the Amsterdam based Bitcoin API provider has announced the launch of its new bitcoin “exchange” Mint. Mint is one of the kind exchanges where one can exchange or swap their old bitcoins for freshly minted ones.

Mint intends to encash upon the impending scarcity of fresh bitcoins as the difficulty level of mining increases. Increase in difficulty levels will automatically result in reduced block rewards and once it happens there will be a dearth of fresh bitcoins. Mint’s business model challenges the concept of bitcoin fungibility as every bitcoin regardless of its age should have the same value. But BlockTrail’s CEO Boaz Bechar disagrees. According to him, fresh bitcoins should command more value than the older ones.

While defending Mint, Bechar argues that unlike other bitcoin transactions, Mint allows people to buy bitcoin whose source can be verified easily on the Blockchain and they are proud to be the first ones in the market to offer such service. Operational since July 9, Mint is currently charging 10% of the bitcoin value for swapping old bitcoins with newer ones.

READ MORE: BlockTrail API: Adding Bitcoin Functionalities with Ease

Tweet123Share196ShareSend
Gautham
Gautham

Gautham

Comments 2

  1. Dogecoin says:
    10 years ago

    Why would anyone need this? A freshly minted coin has no more value than one that has been around for years. It’s just bits and bytes. If you wanted “clean” coins with no traceable history, you would only have to pay 1-3% commission using a mixer.

    Reply
  2. PseudoBob says:
    10 years ago

    “Increase in difficulty levels will automatically result in reduced block rewards”

    Come on, now… difficulty and block rewards are two completely separate mechanisms in Bitcoin. Don’t conflate the two, please 🙂

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Comments 2

  1. Dogecoin says:
    10 years ago

    Why would anyone need this? A freshly minted coin has no more value than one that has been around for years. It’s just bits and bytes. If you wanted “clean” coins with no traceable history, you would only have to pay 1-3% commission using a mixer.

    Reply
  2. PseudoBob says:
    10 years ago

    “Increase in difficulty levels will automatically result in reduced block rewards”

    Come on, now… difficulty and block rewards are two completely separate mechanisms in Bitcoin. Don’t conflate the two, please 🙂

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Bitcoin Exchange Outflows Continue To Rise: Investor Confidence At An All-Time High?

The price of Bitcoin (BTC) has not been particularly impressive over the weekend, which has been a somewhat consistent theme...

Opeyemi Sule 13 hours ago
Bitcoin

Bitcoin Meets Heartbreak In Drake’s Latest Track—Details

Grammy‑winning artist Drake has just put out a new track called What Did I Miss? that makes a clear link between...

Christian Encila 14 hours ago
Bitcoin

Are Bitcoin Retail Traders Back In The Market? On-Chain Data Suggests So

Bitcoin started the month of July with a convincing rally to the upside, suggesting a sustained bullish sentiment amongst investors...

Opeyemi Sule 16 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

本月最熱門迷因幣價格反彈:哪些冷門項目有望暴漲100倍?

Mark Mak 14 minutes ago
Bitcoin Price Resumes Upward Move

Bitcoin Price Resumes Upward Move — Can It Break New Highs?

Aayush Jindal 3 hours ago
Ethereum

Ethereum Ready For Explosive Breakout: $5,791 The Minimum Target–Analyst

Scott Matherson 11 hours ago

Premium Sponsors

Press Releases

  • Make $8,000 a day in stable passive income easily –...

    13 hours ago
  • SunnyMining——A passive income tool that allows ordinary...

    14 hours ago
  • Cryptocurrency is the best way to get rich quickly, easily...

    1 day ago
  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    2 days ago
  • Koja kriptovaluta ima veći potencijal za stvaranje milijunaša XRP ili Shiba Inu

    Koja kriptovaluta ima veći potencijal za stvaranje...

    2 days ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.