Skip to main content

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment

SpaceX owns Bitcoin, Elon Musk and Nic Carter believe BTC is becoming greener

Musk revealed that SpaceX owns Bitcoin and that Tesla may be close to accepting BTC payments again after looking into BTC’s sustainability.

Tesla CEO Elon Musk has revealed for the first time that his firm SpaceX owns Bitcoin (BTC).

The company is yet to officially announce how much Bitcoin it has purchased, however Musk's other company Tesla purchased $1.5B of the cryptocurrency earlier this year which sparked a major Bitcoin price rally.

That rally came to an abrupt end after Tesla stopped taking Bitcoin payments due to environmental concerns, but speaking at "The ₿ Word" — a virtual Bitcoin (BTC) event — the erratic tech billionaire suggested Tesla was on the verge of accepting the cryptocurrency again following promising signs the percentage of renewable energy used for mining was increasing.

The changing narrative of Bitcoin going "green" may help reignite a rally, with Coin Metrics co-founder Nic Carter telling CNBC a few hours ago that BTC’s fundamentals are getting better in terms of sustainability.

Musk appeared alongside Ark Invest CEO Cathie Wood, and Twitter CEO Jack Dorsey, and moderator Steve Lee from Square Crypto. Musk did not reveal any additional details about SpaceX's purchase apart from saying:

“I do own Bitcoin, Tesla owns Bitcoin, SpaceX owns Bitcoin, and I do personally own a bit of Ethereum and Dogecoin of course.”

He did add that: “We’re not selling any Bitcoin, nor am I selling anything personally or nor is SpaceX selling any Bitcoin.”

The statement confirms longstanding speculation the space infrastructure company was adding Bitcoin to its reserves. In mid-March, Anthony Scaramucci claimed in a Tweet that he believed Musk did not stop with just Tesla's purchase.

During the event, Musk donned a BTC themed t-shirt and appeared to be relatively optimistic about the future of digital gold as he stated that he owns "much more Bitcoin than Ether or DOGE."

Musk stated that there “appears to be a positive trend” in renewable energy usage for BTC mining, citing the recent closure of coal-powered mining plants in China.

“I want to do a little more diligence to confirm that the percentage of renewable energy usage is most likely at or above 50% and that there is a trend towards increasing that number. If so, Tesla will resume accepting Bitcoin,” he said.

Nic Carter discusses mining on CNBC

Speaking about Musk’s latest comments with CNBC’s Fast Money on July 22, Carter said he was “glad” that Musk had began to evaluate the “ facts on the ground because they are very favorable.”

Carter echoed Musk’s sentiments on China-based BTC mining, noting that the “Chinese hash rate was very much influenced by energy produced by coal,” and that there had been a lack of transparency from “anonymous miners” in that region.

“The fundamentals are getting better in terms of the sustainability of Bitcoin,” Carter said. The Coinmetrics co-founder pointed to the fact miners in the U.S and Canada are more likely to use sustainable practices and are more willing to disclose information.

“A lot of that [mining in China] has been replaced by mining in Canada and the U.S., where miners are much more sustainably focused. We’re also seeing a lot more disclosure from miners, 32% of the hash rate joined a council, the Bitcoin Mining Council, and they produce quarterly disclosures now,” he said.

Related: Bitcoin mining difficulty drops for fourth time in a row

Carter referenced the Bitcoin Mining Council's (BMC) recent study which surveyed 32% of miners on the BTC.network. The poll produced an estimate of a 67% sustainable power mix in Q2.

It is unclear if Musk has factored in this survey as part of his due diligence, however, as it relied on self-reported data from a limited set of just three survey questions.

Carter conceded that the sustainability of BTC is not going to be fully verifiable until the world sees where the majority of miners set up shop following the exodus from China. However, in his own view, he stated that:

“I think Bitcoin is perfectly suitable for payments today, and of course the environmental costs are offset by its enormous utility”
https://ift.tt/3eEFmCI
Labels:

Comments

Post a Comment

Popular posts from this blog

Bitcoin Legal Tender in 3 Days but Survey Shows 7 Out of 10 Salvadorans Want Bitcoin Law Repealed

Bitcoin is becoming legal tender in El Salvador in three days. However, a nationwide survey conducted by the University Institute of Public Opinion (Iudop) shows that seven out of 10 Salvadorans want the government to repeal the Bitcoin Law. El Salvador’s Bitcoin Law Goes Into Effect in 3 Days The University Institute of Public Opinion (Iudop) in El Salvador conducted a study between Aug. 13 and Aug. 20 of how the public views the country’s upcoming Bitcoin Law. The institute is a research center of the José Simeón Cañas Central American University (UCA). El Salvador’s Bitcoin Law is set to go into effect on Sept. 7 , when BTC will be legal tender in the country alongside the U.S. dollar. A total of 1,281 respondents ages 18 and over participated in this national survey that “represents the entire adult population residing in the country,” according to the institute. Out of all the respondents, 62.4% said they were aware of the approval of the Bitcoin Law by the deputies of the ...
Post a Comment
Read more

Bitcoin breaking new highs in Q4 will ‘temporarily turn alts to dust’ — Analyst

Things will get exciting in quarter four, but not before a convincing floor is put in across crypto, analysts say this week. Bitcoin ( BTC ) was busy losing its overnight gains on Sept. 27 as resistance continued to prove too much for bulls.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst on Bitcoin: “Right now, we’re stuck” Data from Cointelegraph Markets Pro and TradingView  showed BTC/USD dropping to around $1,000 below overnight highs of $44,400 on Bitstamp on Sept. 27.  The move constitutes a rejection at a “critical” zone to break, Cointelegraph contributor Michaël van de Poppe explained, with $42,000 now the key level to hold for a higher low. Bitcoin is acting in an increasingly narrow range, he summarized in his latest YouTube update. “Right now, we’re stuck,” he said, pointing to $47,000 as next should the $44,600 zone be reclaimed. On the downside, the zone between $38,000 and $40,000 remains valid for a bounce, while a co...
Post a Comment
Read more

Blockchain Software Firm Consensys Acquires Mycrypto Ethereum Wallet

On February 1, the blockchain infrastructure firm Consensys has revealed it has acquired the Ethereum-based wallet Mycrypto and plans to merge the wallet into Metamask. The price Consensys paid for Mycrypto was not disclosed but the announcement notes that the acquisition will “further improve the security of all the products.” Consensys Obtains Mycrypto Ethereum Wallet, Plans to Merge With Metamask in the Future Consensys has acquired the Ethereum-based wallet Mycrypto for an undisclosed sum according to an announcement released on Tuesday. The deal aims to strengthen the company’s Ethereum wallet Metamask and “enhance Web3 experiences.” The eventual merger between the two Ethereum interfaces will “provide users with a heightened experience that is even more extensive and secure,” according to Consensys. Consensys is an Ethereum software company led by one of the Ethereum co-founders Joseph Lubin. The Web3 wallet Metamask, with 21 million monthly active users (MAUs) is owned by C...
Post a Comment
Read more