Cryptocurrency & Mining News - Page 16

The latest and most important Cryptocurrency & Mining news - Page 16.

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This vending machine in New York is the very first to sell NFTs

Jak Connor | Feb 23, 2022 12:31 AM CST

The digital world is slowly crossing over with real life, and while the process will take many years, it will be done in incremental steps.

This vending machine in New York is the very first to sell NFTs

Solana-based NFT marketplace Neon recently received a $3 million seed round last month to launch what could be considered as an "incremental step", the very first NFT vending machines. The marketplace rolled out the first NFT vending machine on 29 John St in Manhattan, New York, in December 2021, but now reports indicate that the vending machine is ready for purchases and is open 24 hours a day. The NFT vending machine will allow buyers to purchase Solana NFTs with US dollars.

Jordan Birnholtz, the co-founder and CMO of Neon, spoke to Decrypt and said that he came up with the idea of selling NFTs via a vending machine halfway through 2021 and thought "that there is literally no simpler way to buy something than a vending machine". Additionally, Birnholtz explains that the vending machines were created to showcase how simple it is to purchase an NFT and how powerful of a tool they can be to support digital artists.

Continue reading: This vending machine in New York is the very first to sell NFTs (full post)

Elon Musk says Tesla charging stations will accept this cryptocurrency

Jak Connor | Feb 23, 2022 12:03 AM CST

Tesla and SpaceX CEO Elon Musk has revealed that Tesla charging stations will accept Musk's favorite cryptocurrency as payment.

Elon Musk says Tesla charging stations will accept this cryptocurrency

Elon Musk responded to a tweet from the founder of Tesla Console, Ryan Zohoury, that featured an image of Tesla charging stations in Santa Monica, California, that showcased an almost full parking lot of Tesla vehicles. Musk said that a "futuristic diner / drive-in theater planned for Hollywood area!", and that it will be possible to pay in Dogecoin cryptocurrency.

This isn't the first time Musk has said that Dogecoin is a viable payment, as in December 2021, Tesla began trialing Dogecoin as a payment by allowing individuals to purchase some Tesla merchandise with the cryptocurrency. Reports also indicate that Musk has hinted or teased that in the future, people will be able to pay for SpaceX's Starlink internet with Dogecoin.

Continue reading: Elon Musk says Tesla charging stations will accept this cryptocurrency (full post)

Top crypto exchange co-founder says when the Bitcoin bull run will be

Jak Connor | Feb 22, 2022 2:31 AM CST

The co-founder of one of the world's leading cryptocurrency exchanges has said that the next bull run for Bitcoin won't be for a few more years.

Top crypto exchange co-founder says when the Bitcoin bull run will be

In a recent report from CNBC, who spoke to Du Jun, the co-founder of cryptocurrency exchange Huobi, Jun said that the Bitcoin bull run likely won't begin until late 2024 or around the beginning of 2025. In an interview with CNBC, the Huobi co-founder said that the bull market echos with a process called the "Great Halving," which happens every four years. This process relates to the Bitcoin mining network, which validates transactions on the network and gives miners, or validators, Bitcoin as a reward.

Every time the Great Halving happens, it halves the amount of Bitcoin that is rewarded to miners. In 2016 the halving happened, and the following year Bitcoin hit an all-time high. The last halving occurred in 2020, and throughout 2021 Bitcoin reached its current all-time high of $69,000. Du Jun believes if this cycle is still happening, we are currently at the early stages of a bear market and that we won't likely see a bull run until 2024.

Continue reading: Top crypto exchange co-founder says when the Bitcoin bull run will be (full post)

Famous porn star scams her community, runs away with $1.5 million

Jak Connor | Feb 22, 2022 1:50 AM CST

Another NFT scam project can be added to the ever-growing list of projects that have turned out to be rug pulls.

Famous porn star scams her community, runs away with $1.5 million

YouTube investigator Coffeezilla has put together a short video that outlines the recent events surrounding the NFT project created by famous porn star turned influencer Lana Rhoades. The project is called "CryptoSis" and features collections of cartoon images of Rhoades, which the actress told her audience would be a valuable investment as she will be working hard to "increase the value of CryptoSis's, and make it a lucrative investment for holders that they can sell for more than they paid to mint".

It should be noted that if Rhoades said that the "CryptoSis" NFT project was purely artwork and not an investment, then it wouldn't have been a scam. Rhoades, on multiple occasions, said via social media that the value of the project would increase with every new collection drop, leading buyers to believe that they were making a long-term investment that would pay off when she would complete the outlined roadmap for the project.

Continue reading: Famous porn star scams her community, runs away with $1.5 million (full post)

Intel BonanzaMine revealed: Bitcoin ASIC miner consumes 3600W of power

Anthony Garreffa | Feb 21, 2022 9:46 PM CST

Intel has made its BonanzaMine official, with its new Bitcoin ASIC miner very different to other Bitcoin ASIC miners on the market from the likes of Bitmain, and others.

Intel BonanzaMine revealed: Bitcoin ASIC miner consumes 3600W of power

The new Intel Bonanza Mine System has a huge 300 x BonanzaMine ASICs that push out an impressive 40 THash/s, while chewing through 3600W of power. Intel's new Custom Compute Group team within the Accelerated Computing Systems and Graphics (AXG) business division made the custom silicon platforms that are optimized for specific clients' needs... in this case, a Bitcoin ASIC miner.

All of the required components are built into an individual self-contained computer that's known as the Bonanza Mine System, with 4 x hash boards, an Intel FPGA control unit, 4 x fans, and a programmable PSU. The 4 hash boards are behind the dual-fan cooling system, the control unit at the top, and the PSU is found vertically on the left of the system.

Continue reading: Intel BonanzaMine revealed: Bitcoin ASIC miner consumes 3600W of power (full post)

World's largest NFT marketplace attacked, loses $1.7 million in NFTs

Jak Connor | Feb 21, 2022 4:07 AM CST

OpenSea, the world's largest marketplace when it comes to NFTs, has announced via its Twitter account that it's currently investigating a "phishing attack".

World's largest NFT marketplace attacked, loses $1.7 million in NFTs

Since the attack was announced, numerous updates have been posted by OpenSea and its co-founder and CEO Devin Finzer, who said that the marketplace is communicating with more than a dozen individuals who were affected by the attack and that it appears the exploit doesn't have to do with the OpenSea website.

OpenSea has since published an update, writing that it has narrowed down the victims of the attack to 17 and that the attacker doesn't seem to be active as the malicious account hasn't seen any movement for the past 15 hours. Finzer wrote that the rumors regarding this attack being worth $200 million are false as the attacker has "$1.7 million worth of Ethereum in his wallet from selling some of the stolen NFTs".

Continue reading: World's largest NFT marketplace attacked, loses $1.7 million in NFTs (full post)

This cryptocurrency hack was so bad Netflix is making a TV show on it

Jak Connor | Feb 21, 2022 1:02 AM CST

Back in 2016, the cryptocurrency exchange Bitfinex was hacked, and 120,000 Bitcoin worth about $72 million at the time was stolen.

This cryptocurrency hack was so bad Netflix is making a TV show on it

Recently, the US Department of Justice (DOJ) announced the arrest of a couple living in Manhattan for conspiracy of laundering the stolen funds. The couple Ilya Lichtenstein and Heather Morgan were linked to the 2016 heist, and the price of their stolen Bitcoin increased from $72 million to nearly $5 billion over the years of the investigation. The DOJ announced that it had seized $3.6 billion of the stolen funds, with the DOJ's Deputy Attorney General Lisa Monaco saying during the announcement, "Today's arrests, and the department's largest financial seizure ever, show that cryptocurrency is not a safe haven for criminals."

Now, Netflix has ordered a documentary series to be created on the couple accused of laundering billions of dollars as it's alleged that they attempted liquidating the stack of Bitcoin by creating multiple fake identities and accounts that purchased physical gold, NFTs, and more. Due to the transparent nature of the blockchain, vigilante hackers were able to track down the wallets containing the stolen Bitcoin, which resulted in publications such as Cointelegraph tracking any activity of these wallets. The latest movement out of a stolen wallet was as recent as February 1, 2022, when 10,000 Bitcoin worth $383,540,711 at the time was transferred to an unknown wallet.

Continue reading: This cryptocurrency hack was so bad Netflix is making a TV show on it (full post)

Famous billionaire investor says Bitcoin is 'going to zero'

Jak Connor | Feb 21, 2022 12:32 AM CST

A famous investor that has been a business partner of Warren Buffet has said that the price of Bitcoin is "going to zero" and described the cryptocurrency market as a "venereal disease".

Famous billionaire investor says Bitcoin is 'going to zero'

Famous investor 98-year-old Charlie Munger, who is the vice chairman of Berkshire Hathaway, and Daily Journal chairman said during an interview with Yahoo that he doesn't regret not investing into the emerging cryptocurrency market. Munger says that he didn't invest into crypto and that he is proud he avoided it, describing it as a "venereal disease". The famed investor goes on to say that cryptocurrencies are regularly used for illegal activities such as extortion and tax evasion.

Munger says that he "admires the Chinese" for banning cryptocurrencies and that the US was "wrong" in its decision to allow them. Munger was asked to comment on the price of the largest and most famous cryptocurrency, Bitcoin, where he said that the price of the digital currency "is going to zero" over the next 100 years. Munger has been a long advocate for the banning of cryptocurrencies and wished they were banned "immediately". Lastly, Munger warned investors to not treat the stock market as a "gambling parlor".

Continue reading: Famous billionaire investor says Bitcoin is 'going to zero' (full post)

YouTuber exposes massive NFT scam that was going to make $20 million

Jak Connor | Feb 21, 2022 12:02 AM CST

YouTuber Coffeezilla has performed an investigation into several NFT projects and found that the owners are working together to pump their project's value artificially.

YouTuber exposes massive NFT scam that was going to make $20 million

Before the launch of the NFT project "Squiggles," a 60-page dossier was published that accused the owner of the project of being a "puppet owner" for a group of three individuals Gavin, Gabe, and Ali. The dossier not only accuses the three individuals of being behind Squiggles but also being behind past NFT scam projects such as League of Divine Beings, Vault of Gems, Sinful Souls, Dirty Dogs, and more.

Screenshots also revealed the owners communicating about conducting a fake giveaway by sending money to a friend's account. This fake giveaway was for marketing purposes to generate hype for one of the projects, in an effort to raise awareness and artificially increase the project's value. After being exposed for being behind several NFT scam projects, the team of scammers hired individuals to appear as the owners of new projects, and one of these projects was Squiggles.

Continue reading: YouTuber exposes massive NFT scam that was going to make $20 million (full post)

This country officially legalizes Bitcoin and other cryptocurrencies

Jak Connor | Feb 18, 2022 12:33 AM CST

Ukraine has officially passed a piece of legislation that deems Bitcoin and other cryptocurrencies legal in a move to usher in attractive, transparent investments.

This country officially legalizes Bitcoin and other cryptocurrencies

The bill was originally passed by the government back in September 2021 but was sent back by parliament by Ukraine President Volodymyr, who requested that some changes be made. Four months later, the bill has been formally signed into law and now represents a massive step towards creating protection for digital asset owners, exchanges, and individuals through regulation.

The Ukrainian government now expects that nefarious acts that riddle the cryptocurrency industry, such as scam projects, money laundering, fraud, and other illegal acts, will reduce dramatically with the legalization of Bitcoin and other crypto coins. Additionally, it's expected that the legalization will usher in innovation throughout the space and instill confidence in those who are interested in exploring the emerging technologies. If you are interested in reading more about this story, check out this link here.

Continue reading: This country officially legalizes Bitcoin and other cryptocurrencies (full post)