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Showing posts from October 10, 2021

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...
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Bitmain Will Not Ship Crypto Mining Equipment to China

Mining hardware manufacturer Bitmain will no longer ship its products to mainland China. The move is in response to local regulations, the company explained. The announcement follows a prolonged crackdown on crypto mining operations in the country and a recently reiterated wide ban on activities related to cryptocurrencies. Bitmain Stops Mining Rig Deliveries to Mainland China Referring to its commitment to abide by law and regulations in the jurisdictions where its entities operate, mining equipment producer Bitmain announced it terminates deliveries to the People’s Republic of China. In a statement published on Sunday, Bitmain said: From October 11, 2021, Antminer will stop shipping to mainland China. The company noted that “for customers in mainland China who have purchased long-term products, our staff will contact them to provide alternative solutions.” It did not share further details about the arrangements. Bitmain emphasized that the decision for the Chinese market does...
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Texas should use Bitcoin mining to capture wasted natural gas: Sen. Ted Cruz

Senator Cruz predicts that Bitcoin mining will be used to capture wasted renewables and Texas’ power grid within five years. U.S. Senator Ted Cruz believes The United States should be using natural gas to mine Bitcoin instead of flaring it. Speaking during the Oct. 8 Texas Blockchain Summit, Senator Cruz asserted that Bitcoin mining can be used to monetize energy created through oil and gas extraction rather than burning it, arguing that there is “enormous opportunity for Bitcoin [...] to capture that gas instead of wasting it.” According to a transcription of the talk shared to social media by Coin Metrics founder Nic Carter, Cruz noted that half of the natural gas flared in the country is currently being burned in West Texas. “It’s being wasted because there is no transmission equipment to get that natural gas where it could be used the way natural gas would ordinarily be employed,” he added. “Use that power to mine Bitcoin. Part of the beauty of that is the instant you’re doi...
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Bitcoin network tags record high for daily settlement volume

More than $30 billion was settled on the Bitcoin blockchain in a single day last week. The value settled on the Bitcoin network has been surging recently, reaching a new daily all-time high last week. Bitcoin’s daily settlement value hit an all-time high on Oct. 6, with $31 billion worth of transactions being settled on-chain using the Bitcoin network. The record high marks an increase in the network’s daily settlement volume of approximately 40 times since the beginning of 2020. There was $31 billion of value settled on the bitcoin network in a single day last week. This is an all-time high for a single day of settlement value. The global, decentralized payment system continues to become more dominant. (h/t @kerooke ) pic.twitter.com/a6Q2FbPY3C — Pomp (@APompliano) October 10, 2021 According to data from Coin Metrics, daily settlement volume has since pulled back sharply, with the Bitcoin network settling $11.6 billion worth of transactions on Oct. 10. On-chain analyst ...
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New Bybit User? Get up to $600 in Welcome Rewards

New Bybit users can get up to $600 in welcome rewards upon completing simple tasks and hitting trading milestones after signing up. The rewards include an exclusive $50 coupon when a new user makes a first time deposit of at least 0.05 BTC or equivalent within 48 hours of joining the cryptocurrency exchange. If they miss the 48-hour mark, they will still be rewarded with a $20 coupon for making a deposit. In addition, new users who follow any of Bybit’s social media accounts within 14 days of joining Bybit will be rewarded with a $5 coupon immediately, which can be used to offset trading fees. For every trading milestone reached, be it big or small, new users will be able to stack bonus rewards. Those who successfully refer a friend to Bybit will also receive a $20 bonus (their referee will also receive a $20 bonus). These users will be guaranteed additional rewards each time their friend hits a trading volume milestone, including a chance to win a $500 bonus. Here are more reas...
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El Salvador to build $4M veterinary hospital using profits from Bitcoin trust

Salvadoran president Nayib Bukele said no Bitcoin will be sold to fund the investment, with the state instead drawing USD from its Bitcoin trust. Salvadoran president Nayib Bukele has announced plans to invest part of the $4 million worth of profits the country has amassed from its Bitcoin holdings to invest into constructing a new veterinary hospital in the local capital of San Salvador. Taking to Twitter on Oct. 10, Bukele revealed that El Salvador ’s state-operated Bitcoin trust currently holds $4 million worth of profits gleaned from its recent Bitcoin embrace . Bukele announced that part of the funds will be invested into constructing a veterinary hospital featuring four operating rooms, four emergency clinics, 19 offices, and a rehabilitation area. “We decided to invest a part of that money in this: a veterinary hospital for our furry friends,” he said. Bukele added the facility will aim to be able to perform 64 surgeries, respond to 128 emergencies, and tend to nearly 400 g...
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How Henry Ford Envisaged Bitcoin 100 Years Ago — A Unique ‘Energy Currency’ That Could ‘Stop Wars’

55 days from now will be the hundred-year anniversary of when the American industrialist and business magnate Henry Ford talked about a unique “energy currency” that could “stop wars.” The well known founder of the Ford Motor Company suggested that a currency could be backed by energy in kilowatt-hours (kWh) in a similar fashion to the way energy is leveraged to mine bitcoin. New York Tribune, December 4, 1921: ‘Ford Would Replace Gold With Energy Currency and Stop Wars’ Close to 100 years ago on December 4, 1921, Henry Ford discussed an idea he conceived in the New York Tribune . The title of the published article was called “Ford Would Replace Gold With Energy Currency and Stop Wars.” Ford is well known for developing the assembly line technique and creating one of the first mass-produced American-built automobiles. Ford’s energy currency concept describes a digital currency much like Satoshi Nakamoto’s Bitcoin and one that is also scarce. Not only would Ford’s energy currency ...
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Nuclear engineer sells classified data to undercover FBI agents for crypto

The FBI paid tens of thousands worth of cryptocurrency to a nuclear engineer in exchange for SD cards containing classified data. A nuclear engineer and his wife have been arrested in West Virginia on charges of espionage and selling restricted data. The couple sold classified information regarding the designs of nuclear-powered warships to an individual they believed to represent a foreign nation for almost a year. However, the contact was an undercover FBI agent who sent payments for the data in cryptocurrency. Jonathan and Diana Toebbe were apprehended by the FBI and the Naval Criminal Investigative Service (NCIS) on Saturday, Oct. 9. They will appear in federal court on Tuesday, Oct. 12. According to a statement from Attorney General Merrick B. Garland: “The complaint charges a plot to transmit information relating to the design of our nuclear submarines to a foreign nation.” Jonathan Toebbe served as a nuclear engineer assigned to the Naval Nuclear Propulsion Program and he...
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5 Countries Will Accept Bitcoin as Legal Tender by End of Next Year, Says Bitmex CEO

By the end of next year, at least five countries will have accepted bitcoin as legal tender, the CEO of cryptocurrency exchange Bitmex has predicted. He cited three key reasons why he arrived at this conclusion. “Developing countries will jump into crypto in 2022,” he said. More Countries Will Adopt Bitcoin as Legal Tender The CEO of cryptocurrency exchange Bitmex, Alex Hoeptner, has predicted that developing countries will lead the way in bitcoin adoption. He detailed last week: My prediction is that by the end of next year, we’ll have at least five countries that accept bitcoin as legal tender. All of them will be developing countries. Here’s why I think developing countries will jump into crypto in 2022. The CEO offered three main factors driving the adoption of bitcoin in developing countries and why he came up with this prediction. The first is remittances. Remittances made up 23% of El Salvador’s GDP in 2020, Hoeptner described. Citing data from the World Bank, he added t...
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‘Big Short’ Investor Michael Burry Criticizes Shiba Inu Crypto After SHIB Soars 230% — Says It’s ‘Pointless’

Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, thinks the dogecoin rival shiba inu token (SHIB) is “pointless,” criticizing its supply. The cryptocurrency skyrocketed 230% over the past week. Michael Burry Shares His View on Shiba Inu Token Famous investor and founder of private investment firm Scion Asset Management, Michael Burry, commented on the shiba inu token (SHIB) Saturday after the dogecoin rival cryptocurrency surged 230% over the past week. Burry is best known for being the first investor to foresee and profit from the U.S. subprime mortgage crisis that occurred between 2007 and 2010. He is profiled in “The Big Short,” a book by Michael Lewis about the mortgage crisis, which was made into a movie starring Christian Bale. The Big Short investor shared Coinbase’s description of the shiba inu token on Twitter Saturday, which states: “Shiba inu (SHIB) is a token that aspires to be an Ethereum-based alternative to dogecoin (DOGE), the po...
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SEC Commissioner: True Decentralized Projects Pose a Challenge to Crypto Regulation

A commissioner with the U.S. Securities and Exchange Commission (SEC) says that true decentralized projects pose a challenge to crypto regulation. Noting that “decentralized finance carries within itself inherently some ability to self regulate,” the commissioner said, “we need to take that into account as we design a regulatory system.” SEC Commissioner Peirce Discusses Crypto Regulation and Decentralized Finance SEC Commissioner Hester Peirce talked about cryptocurrency regulation in an interview with Yahoo Finance, published last week. Peirce is also known in the crypto community as “crypto mom” for her knowledge and support of the crypto space. She was asked about whether the SEC has any trouble catching up with developments in the crypto space and protocols which are advancing and changing very quickly on a daily basis. “There is certainly difficulty on the part of a regulator to stay on top of developments in defi [decentralized finance] and crypto more generally,” Peirce ad...
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Refinable Authenticates Fine Jewelry Sale on Sotheby’s

PRESS RELEASE. HONG KONG – 10th October 2021 – Refinable , a leading decentralized NFT marketplace, is taking a step forward in realizing advanced use cases for NFT applications. In a keystone partnership with high-end jewelry maker NALAS , and the support of Sotheby’s , Refinable will be the first marketplace to provide item authentication with NFTs for the high-value jewelry piece known as “ Shining Stars ”. Valued at upwards of $300,000 HKD, “Shining Stars” is studded with over 200 diamonds to reconstruct the star-filled nights seen throughout Vincent Van Gogh’s artwork. Online review and bidding of the auction of “Shining Star” will start in Sotheby’s “ Magnificent Jewels: Part II ” from 5 October until 28 October. The successful bidder will receive a proof of purchase and proof of authenticity in the form of a digital NFT from Dias Group Limited. Leveraging the Ethereum blockchain, all associated information about the sale will be stored publicly and be available for anyone ...
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Regulators are coming for crypto: Is digital identity the answer?

It’s time to give control over personal data in megadatabases managed by a handful of corporations and governments back to the people. The regulators are closing in. It’s one thing to unbundle market functions to their parts ― custody, aggregators and Prime Brokerage ― to satisfy institutional compliance departments. It’s another to keep regulators happy. From the Financial Action Task Force pushing forward with its guidance for Travel Rule compliance to the still-evolving European Markets in Crypto-Assets regulatory framework, and the somewhat clumsily-handed U.S. infrastructure bill , the regulators are slowly tightening their noose, and I fear this may be the start of a multi-year staring match ― with the decentralized finance (DeFi) market now firmly in their sights, too. Related: DeFi: Who, what and how to regulate in a borderless, code-governed world? Could digital identity help? Whenever I’ve been asked what Bitcoin’s ( BTC ) killer app would be over the past 10 years, ...
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BTC’s Price Rise Gives 5-Year-Old Mining Rigs New Life — Bitcoin Hashrate Jumps Close to 20% Since Last Week

As bitcoin’s value has increased, the global hashrate has been steadily climbing higher week after week. On Sunday, the hashrate dedicated to the Bitcoin network is hovering just above the 155 exahash (EH/s) handle and bitcoin’s price has made a great number of mining rigs more profitable. Older generation mining rigs like Bitmain’s Antminer S9 series with hashrate speeds around 11 TH/s or higher are also profiting. Bitcoin Hashrate Climbs, Mining Rigs Gather Higher Profits Six days ago, Bitcoin’s overall hashpower was around 130 exahash per second (EH/s) and today it’s up 19.23% at 155 EH/s. Bitcoin ( BTC ) markets have been doing well this week up 15.9% during the last seven days. On Sunday, a single BTC is exchanging hands for just above the $55K zone and there’s $35.2 billion in global trade volume. The higher price per BTC has made it so mining rigs are more profitable than they once were a few weeks ago in September. Using today’s BTC difficulty and electrical costs of ar...
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The Metaverse, play-to-earn and the new economic model of gaming

The gaming industry is rapidly growing, and the emerging play-to-earn model coupled with blockchain and the Metaverse is the future. The gaming industry, which has always been synonymous with fun, has grown massively in recent times, and a lot of money is now being mentioned when gaming comes up. Since the introduction of Web 3.0, there has been immense growth in the industry. At the end of 2019, the global gaming market was reportedly worth $152 billion. This growth has meant that, since the introduction of Web 3.0, there has been a consistent rate at which Web 3.0 games are growing and garnering increased adoption. A lot of money is being made, and this has, in turn, attracted a lot of new developers to the space. Related: Is a new decentralized internet, or Web 3.0, possible? Gaming in the past has always been a one-sided relationship, where only the developers or owners of a game get the financial gains while players are left to just have fun and keep spending. A new economic...
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Sri Lanka’s E-commerce Platform Kapruka to Introduce Crypto Payments

Sri Lanka’s leading online retailer, Kapruka, has unveiled plans to introduce support for cryptocurrency payments. The news comes as the South Asian country intensifies efforts to adopt legislation tailored to regulate its blockchain space and attract investments from the crypto industry. Kapruka to Launch Cryptocurrency Payments Within Weeks Kapruka ( Kapruka.com ), a major e-commerce platform in Sri Lanka, has revealed its intention to start accepting payments in cryptocurrency quite soon. Kapruka’s founder and Chairman Dulith Herath made the announcement on Twitter this week. Quoted by the Sri Lankan Daily Mirror newspaper, the executive stated: Kapruka plans to accept crypto payments within the next couple of weeks. Founded in 2005 by the Sri Lankan entrepreneur and web-technology specialist, Kapruka has established itself through the years as Sri Lanka’s largest retailer on the internet. Besides its core business, it has also ventured into cross-border e-com exports and las...
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Top 5 cryptocurrencies to watch this week: BTC, DOT, UNI, LINK, XMR

Bitcoin could pick up momentum above $56,100 and that could attract buying in DOT, UNI, LINK, and XMR. Bitcoin ( BTC ) has continued to trade near the $55,000 level. The sharp rally in Bitcoin has pushed its market dominance from 40.70% on Sep. 12 to about 45% today. This shows that the strong recovery in cryptocurrencies has largely been led by Bitcoin.  This sharp run-up in Bitcoin has pushed the Fear and Greed indicator into the Greed zone. Although this indicator suggests that markets may have run up quickly in a short time, it does not necessarily signal a confirmed short-term top . Crypto market data daily view. Source: Coin360 History suggests that traders who sold their Bitcoin positions on this metric alone could have missed strong gains before the correction set in, as highlighted by Cointelegraph Marke analyst Marcel Pechman. Could bulls extend the up-move and push the price closer to the all-time high in Bitcoin? If that happens, select altcoins may rally to th...
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One currency to rule them all: Facebook’s Diem has global ambitions

There are two big questions on everyone’s lips now: What exactly is Facebook’s Diem, and what it will offer its potential 2 billion users? The year 2021 seems to be a big year for the blockchain world as several projects, such as nonfungible tokens (NFTs) and centralized decentralized finance exchanges (CeDeFis), are taking the central stage. Also at the forefront is Facebook’s Libra. Not too long ago, the media was rife with the news that the world’s largest social media network was developing plans for a global digital currency. Then, after a while, it looked like Facebook shelved plans for it. Disputes with regulators around the globe had a hand in delaying and redirecting Facebook’s plans a bit. Instead of backing out, Facebook decided to strategize and launch a "different" global digital currency later in 2021, after rebranding the project to Diem. Related: New name, old problems? Libra’s rebrand to Diem still faces challenges It is different in the sense that...
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