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Showing posts from January 2, 2022

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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Wharton’s Professor Warns About Inflation, Predicts Many Rate Hikes, Says Bitcoin Has Replaced Gold for Millennials

A finance professor at the Wharton School of the University of Pennsylvania has warned about inflation and the Fed hiking rates many more times than the market expects. He also said that bitcoin has become the new gold for the millennials. Finance Professor on Bitcoin and Inflation Wharton’s finance professor Jeremy Siegel shared his outlook for various markets that he believes investors should have exposure to this year in an interview with CNBC Friday. Siegel is Russell E. Palmer Professor Emeritus of Finance at Wharton School, University of Pennsylvania. His research focuses on demographics, financial markets, long-run asset returns, and macroeconomics. He was asked about gold and commodities as investments going forward. Noting that gold “has been disappointing,” he stressed that “it’s a fact that the young generation is regarding bitcoin as the substitute” for gold. The professor opined: Let’s face the fact, I think bitcoin as an inflation hedge in the minds of many of the ...
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Billionaire Ray Dalio Insists Governments Could Outlaw Bitcoin

Billionaire Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, has reiterated his warning that governments could outlaw bitcoin. “In history, they’ve outlawed gold and they’ve outlawed silver and so on, and they could outlaw bitcoin,” he stressed. Ray Dalio Continues to Warn About Governments Outlawing Cryptocurrency Bridgewater Associates founder Ray Dalio talked about bitcoin as he reiterated his warning that governments could outlaw the cryptocurrency on the Investor’s Podcast Network, published Saturday. Dalio currently serves as Bridgewater Associates’ chairman and co-chief investment officer. His firm’s clients include endowments, governments, foundations, pensions, and sovereign wealth funds. Dalio warned that “there are regulatory issues” surrounding bitcoin. “When you have an alternative currency, that’s a threat to every government,” he elaborated. “Every government wants a monopoly in their own currency and particularly if you get a better ...
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Power Outages in Russia’s Irkutsk Region Blamed on Home Miners

Russians mining cryptocurrency in their homes have been blamed for the problems with the electricity supply in Irkutsk. Power outages have become a frequent occurrence in the region which maintains the lowest electricity rates in Russia. Subsidized household energy has turned mining into a source of income for many locals. Electricity Consumption Spikes Amid Spread of Home Crypto Mining in Irkutsk Power grid operators in Irkutsk have been dealing with a growing number of outages. The region and the city are experiencing a tangible increase in electricity consumption that overloads the distribution network. Local officials claim this has been caused by cryptocurrency miners who mint digital currencies in their apartments, basements, and garages. As a way out of the exacerbating situation, they are now proposing a set of measures to address the challenges. Authorities want to upgrade the capacity of the distribution network in Irkutsk Oblast, introduce higher tariffs for crypto miner...
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Unlocking utility is key for fashion brands launching NFTs in 2022

2021 may have been the year for fashion NFTs, but 2022 will require brands to launch NFTs with utility behind them to move the idea forward. Nonfungible tokens, or NFTs, have become one of the most discussed markets in the crypto space this year. A recent report from Cointelegraph Research found that NFT sales are aiming for a $17.7 billion record by the end of 2021.  This may very well be the case, as a number of mainstream brands have begun launching NFTs. According to recent research from Bain & Company and the online luxury fashion platform Farfetch, digital interactions with consumers are becoming increasingly important for brands. The report specifically states that “digital interaction with peers is on the rise when choosing to purchase a product.” As such, nonfungible tokens tied directly to brands and their consumers are now more important than ever before. Understanding what utility means for fashion NFTs While it’s notable that mainstream labels like Adidas, D...
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Top 5 cryptocurrencies to watch this week: BTC, LUNA, FTM, ATOM, ONE

LUNA, FTM, ATOM, and ONE could rally if Bitcoin rises above the 50-day SMA. Bitcoin ( BTC ) continues to languish below the psychological level at $50,000 in the first few days of the New Year, indicating a lack of aggressive buying by traders. Former BTCC CEO Bobby Lee said the exodus of the Chinese traders who had until Dec. 31 to exit Chinese exchanges may have kept prices lower into the year-end. However, President Nayib Bukele of El Salvador, the first country to adopt Bitcoin as legal tender, believes that Bitcoin could rally to $100,000 this year. President Bukele also said that two more countries will accept Bitcoin as legal tender in 2022. Crypto market data daily view. Source: Coin360 The increased crypto adoption by institutional investors in 2021 is another long-term positive. According to CoinShares, net inflows into crypto funds in 2021 were more than $9.3 billion. A majority of over two-thirds of the crypto inflows were into Bitcoin. Could Bitcoin start a new...
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0.2 Zettahash: Bitcoin’s Hashrate Taps New Lifetime High, Mining Difficulty Nears ATH

Bitcoin’s hashrate tapped a lifetime high on the first day of 2022 reaching 209.39 exahash per second (EH/s). During the last 12 months, Bitcoin’s hashrate has increased by 47.92% from the 141.55 EH/s recorded on January 3, 2021. Bitcoin’s Hashpower Reaches a New Milestone The processing power and security dedicated to the Bitcoin ( BTC ) network has never been higher, and the network tapped a milestone in 2022. According to the one-year hashrate chart hosted on coinwarz.com, BTC ’s hashrate tapped a high of 209.39 EH/s on January 1, 2022. At the time of writing, the hashrate is still coasting along the two hundred three quintillion hashes per second (H/s) zone, and 30-day statistics indicate the network briefly tapped 224.32 EH/s on Saturday. Bitcoin.com News recently reported on the BTC network reaching 194.95 EH/s not too long ago on December 8, 2021. It’s also worth noting that the Ethereum ( ETH ) network also reached an all-time high tapping 1 petahash per second (PH/s). ...
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India’s Central Bank RBI Says Crypto Is Prone to Fraud and Poses Immediate Risks to Consumer Protection

India’s central bank, the Reserve Bank of India (RBI), has warned about multiple risks cryptocurrency poses to the country’s financial stability. “They are also prone to frauds and to extreme price volatility,” the apex bank claims, stressing that “cryptocurrencies pose immediate risks to customer protection and anti-money laundering (AML) / combating the financing of terrorism (CFT).” RBI’s Assessment of Cryptocurrency India’s central bank, the Reserve Bank of India (RBI), published its biannual Financial Stability Report (FSR) last week. The 144-page document includes a section on “private cryptocurrency risks.” The term “private” refers to all cryptocurrencies that are not issued by the RBI, including bitcoin and ether. The central bank wrote: The proliferation of private cryptocurrencies across the globe has sensitized regulators and governments to the associated risks. “Private cryptocurrencies pose immediate risks to customer protection and anti-money laundering (AML) / c...
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What’s ahead for crypto and blockchain in 2022? Experts Answer, Part 2

Here’s what industry insiders foresee in the development of the blockchain and crypto space in 2022. Simon Peters of eToro Simon is a crypto analyst at eToro, the world’s leading social trading platform, which offers both investing in stocks and cryptocurrencies. “While we could potentially see a bear market in 2022, with more countries considering making Bitcoin legal tender, the emergence of CBDCs, and the wider use of stablecoins by households and businesses, the crypto landscape has much more to offer. As the next iteration of the internet comes into effect (Web3 and the Metaverse), we will naturally see greater capital and user inflows to this space. With NFTs specifically, we could see the tokenization of real-world assets, represented and traded on blockchains.” These quotes have been edited and condensed. The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. Sameep S...
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