Cryptocurrency & Mining - Page 16

If you think you've ever paid too much in fees for a cryptocurrency transaction, I don't think you can beat paying $23,300,000 in Ethereum for just $100,000 in USD Tether. That's exactly what Bitfenix just did...

Bitfenix just paid $23.3 million in Ethereum to transfer $100,000 USDT to DeversiFi's wallet, with a DeversiFi spokesperson confirming the news: "At 11:10 UTC on the 27th September, a deposit transaction was made using a hardware wallet from the main DeversiFi user interface with an erroneously high gas fee".

It seems that this could be a huge mistake, and someone at Bitfenix has just f***ed up so badly it has cost $23 million+ which means it's a record-breaking cost for a transaction. The cryptocurrency community thinks that this was a huge mistake for Bitfenix, especially when DeversiFi is meant to be a platform that lets users access DeFi to invest, trade, and send transactions without "paying gas fees".

In a move that would have people thinking "why did it take so long?" a crypto mining company has purchased itself an early Christmas present: an entire powerplant to power its Bitcoin mining operations, and expand it in a gigantic way.

Stronghold Digital Mining has just purchased the Scrubgrass power plant located in Venango County, Pennsylvania. The powerplant is able to power around 1800 Bitcoin mining machines right now, but the company has plans to expand that to support over 20,000 miners sometime in 2022.

The plant will be burning waste coal to power on-site mining hardware, which will be housed in shipping containers that are placed next to the Scrubgrass power plant. The not-so-environmentally-friendly coal power plant isn't a good choice for Stronghold, which advertises itself as an "environmentally beneficial and vertically integrated Bitcoin miner".

China has been continuously cracking down on cryptocurrency but this new step is the biggest yet -- with China's central bank clamping down on crypto harder than ever before.

The People's Bank of China has said that services that offer trading, order matching, token issuance, and derivatives for virtual currencies are now strictly prohibited. Oh, you thought you could live in China and trade crypto overseas? Nope, that's also illegal.

China now considers cryptocurrency transactions as criminal financial activity, with China's central bank to "resolutely curb the hype of virtual currency transactions, severely crack down on illegal financial activities and illegal criminal activities related to virtual currencies, protect the safety of the people's property in accordance with the law, and make every effort to maintain economic and financial order and social stability".

Twitter has just announced it is letting users tip their favorite creators with cryptocurrency Bitcoin, after testing the feature out back in May as a way that creators could earn payments for their tweets.

The new Tips feature has rolled out across the planet for iOS users and will reach Android users in the next few weeks. Bitcoin is now accepted on Twitter under their new Tips feature, which would previously accept payment through services like Square's Cash app or PayPal's Venmo.

Accepting BTC on Twitter isn't the only thing the social network announced, but there's also NFT authentication and plans about using other experiments to give more context about a conversation for users that have just dived in. There's a new creators fund coming in the next few weeks, which will help audio creators with access to financial, technical, and marketing help.

Bitcoin has been hovering at around $50,000 for a while now but BTC flash-crashed down to just $5402 on Pyth Network oracle's BTC/USD feed... the problem caused liquidations to happen on an insane, flash-crashed price.

BTC was staying at the $50,000 or so during the first week of September 2021, before dropping down to $45,000 or so last week, and now down to $40,000 or so this week before climbing back up to $43,000 at the time of writing.

The price of Bitcoin flash-crashed to $5402 between the hours of 12:21 and 12:23 UTC on Monday, while BTC was trading for $43,500 on most centralized exchanges. The Pyth Network is a Solana-based oracle network that acts as a bridge between blockchains and real-world data, adding that the flash-crash down to $5402 was caused because two of its data sources published a near-zero price, and received a relatively higher weight from the network's aggregation logic.

Elon Musk is no stranger to making waves in the cryptocurrency market, and now the SpaceX and Tesla CEO is at again.

On September 13, Elon Musk shared to his personal Twitter account an image of his new pet, a very small Shiba Inu puppy. Musk stated in the post that "Floki has arrived", causing some cryptocurrency coins to have major spikes in value. The Floki Inu coin saw massive gains and other alternative coins with similar naming schemes such as Floki Shiba and Super Floki.

Both Floki Shiba and Super Floki saw a 150% rise in value. Musk has previously voiced his support for the most famous Shiba Inu cryptocurrency, Shiba Inu Doge. Musk has even gone as far to say to that Dogecoin could one day become Earth's main currency. "But fate loves irony... The most entertaining outcome is often the most likely and arguably the most entertaining outcome, and [the] most ironic outcome would be that Dogecoin becomes the currency of Earth in the future", said Musk earlier this year.

BIOSTAR has just revealed its new crypto mining motherboard, the new TZ590-BTC DUO motherboard that has room for 9 x GPUs and up to 14 x storage devices.

The new BIOSTAR TZ590-BTC DUO motherboard has 8 x PCIe 3.0 slots, and a single PCIe 4.0 x16 slot -- joined by storage madness in the form of 10 x SATA III ports, and 4 x M.2 Key M slots for Chia Coin crypto mining on the storage side of things.

There's support for Intel's 10th and 11th Gen CPUs on the LGA1200 socket, with support for up to 128GB of DDR4 RAM. It's actually a pretty beast crypto mining motherboard, given how many connectors and ports and even RAM support that the BIOSTAR TZ590-BTC DUO motherboard has.

I'm not waking up into this Clown World everyday thinking it is getting better, but news of the $69 million NFT (non-fungible token) being shown "in real life" and having NFT tickets to said party for $475, has me wanting to go back to sleep... how long until that is an NFT?

Anyway, there will be an "inaugural display" of the NFT that Beeple sold earlier this year for a whopping $69 million: The First 5000 Days. The image itself can be viewed right now, I've got it in the tweet above and a higher-res version below... but you really, really want to pay $475 for an NFT ticket to the IRL party of this $69 million NFT. I'm sure it's 420-friendly and 69-friendly, for the IRL event to the NFT that requires an NFT ticket for the LOLs and the ROFLs.

This event will mark the first "authorized" public projection of The First 5000 Days NFT itself, with crypto fund Metapurse -- the owners of the NFT -- will have its one-and-only authentic copy, with its nominally exclusive display rights, up for a night -- IRL.

A new RDNA 2-powered crypto mining card has been spotted, with a new GPU pictured in China and mining Ethereum with 39MH/s of hash power.

We now have some photos of an XFX-branded Navi 22 GPU and 10GB of GDDR6 memory, which could be a Radeon RX 6700 or even a repurposed Radeon RX 6700M mobile GPU. VideoCardz was tipped by a reader, with the Navi 22-based mining card hitting 39.06MH/s and the GPU reaching 92C.

When it comes down to the specifications of the new GPU, GPU-Z displays that this card has the same specifications as AMD's mobile-focused Radeon RX 6700M. The Radeon RX 6700M is based on the Navi 22 GPU and packs 2304 Stream Processors, and 10GB of GDDR6 on a 160-bit memory interface, and up to 344GB/sec memory bandwidth.

We've seen it before, and now we're seeing it again: NVIDIA's unreleased GeForce RTX 3080 Ti graphics card with a much bigger 20GB of GDDR6X memory on-board.

The new GIGABYTE GeForce RTX 3080 Ti AORUS 20GB graphics card is exactly what you think it is: a custom RTX 3080 Ti with 20GB of GDDR6X memory and has been spotted in Russia (again). The RTX 3080 Ti 20GB in question only works with crypto mining and not gaming... without any Game Ready drivers, this is a gaming-gimped graphics card.

It's not an LHR (Lite Hash Rate) card which means it's not crypto mining gimped, while we now know there are multiple GIGABYTE models (3 at least) with 20GB of GDDR6X memory. There's the GAMING OC, which is the card we have teased here, the AORUS Xtreme, and AORUS Master -- all in the custom GeForce RTX 3080 Ti goodness with 20GB of GDDR6X memory.

The price of Chia Coin has pushed Chia crypto miners to offload their hardware, with bundles of SSDs and HDDs hitting the market -- at a loss. Unlike GPU miners that could've purchased graphics cards last year, and sold them at a profit this year.

The price of XCH has dropped from around $290 just a few days ago, down into the $210 area -- after spending most of August 2021 above $250. XCH was at manic peaks back in March 2021 when Chia Coin was at its maximum hype period, breaching $1600... before dropping close to 8x down to $216 at the time of writing.

One of the admins on the Chia Coin Facebook group, which has over 5000 Chia traders, has noticed a big uptick in Chia miners selling their old mining-abused SSDs and HDDs. Chia Coin Facebook group admin Hoang Trung explains: "The fluctuation of Chia prices has urged investors to sell their hardware at a loss, with sellers outnumbering buyers".

You might not be able to find a new AMD Radeon RX 6000 series graphics card, but Cryptominers Bahrain teasing they've received what seems like a truckload of custom Radeon RX 6600 XT graphics cards. Don't try to smash your screen when you watch the video, or see the pictures below:

Cryptominers is a company that specializes in crypto mining systems, with the company receiving boxes and boxes of PowerColor, SAPPHIRE, and XFX Radeon RX 6700 XT, Radeon RX 6800 XT, and Radeon RX 6900 XT graphics cards. The company also offers up ASICs for crypto mining, but they put their biggest efforts into crypto mining rigs and crypto farms.

There's even some older-gen Radeon RX 580 8GB graphics cards thrown into the mix, with XFX custom Radeon RX 580 8GB cards pictured. There's some high-end Radeon RX 6900 XT graphics cards which seems like a waste of high-end RDNA 2 silicon for crypto mining, but this is the world we live in now.

NVIDIA's flagship GeForce RTX 3090 graphics card can pump away at 100-100MH/s hash rate, but now there's a new CMP 170HX mining GPU teased that is a true crypto mining monster.

The new NVIDIA CMP 170HX mining card packs the super-fast A100 accelerator, which means it doesn't have any display connectivity or any ability to play games. It's a compute and crypto mining beast, teased by Codefordl on Zhihu.

NVIDIA's upcoming CMP 170HX has 4480 CUDA cores, where the full GA100 GPU inside of the NVIDIA A100 accelerator has 6912 CUDA cores -- so where does all this hash rate power come from? Well, that comes down to the 8GB of super-fast HBM2e memory that is on a 4096-bit memory bus and offers up to an insane 1.493GB/sec of memory bandwidth... making it an amazing, and the very best single GPU mining card.

Ripple is no stranger to legal action by the United States Security and Exchange Commission (SEC), as the regulatory agency has alleged the cryptocurrency is unregistered security.

According to James Filan, an attorney who is closely following the case between the SEC and Ripple said that Ripple is pushing for a motion that would reveal if SEC employees have been trading or are holding any of its token XRP. The motion was filed last Friday with names such as Ripple Labs, Ripple CEO Brad Garlinghouse, and Ripple executive chairman Chris Larsen attached to the document.

The motion's action asks the U.S. District Court for the Southern District of New York to require the SEC to produce data to the court on its trading policies as well as anonymized documents that show "trading preclearance decisions" for XRP, Bitcoin, and Ethereum. Additionally, the document states, "Defendants also seek certifications concerning SEC employees' XRP holdings - again, either with redactions of personal information or in aggregate form."

China is spreading its cryptocurrency regulatory tentacles everywhere it can, but now China's Supreme Court has sided with cloud mining company Genesis Mining, and will return 485,681 Radeon RX 470 8GB GPUs.

The dispute between Chinese hosting provider Chuangshiji Technology Limited and Iceland-based Genesis Mining started over charging disagreements and payment-related. Genesis filed a suit against Chuangshiji that requested the return of its graphics cards, as well as 60,000+ ASIC miners after it terminated the hosting agreement with the Chinese cloud mining company.

Once Genesis had terminated its contract with Chuangshiji, the company started liquidating the GPUs and ASIC miners without Genesis' consent. Genesis has now won that court case, but now has 485,000 Radeon RX 470 8GB GPUs that it needs to find new crypto mining homes for.

The sale of non-fungible tokens seems to be skyrocketing as a sales tracking portal has reported that total sales for this month are closing in on previously set records.

According to the non-fungible token (NFT) tracking portal called Nonfungible, over the past 30 days, there has been $896 million worth of NFT sales. Projections expect that $896 million will reach $900 million by the end of August, setting a new record for the emerging industry. It should be noted that the previous best month for NFT sales occurred in May, when $255 million in NFTs were sold.

So, why are NFT sales up so much this month? Cointelegraph attributes the increase in NFT sales to the CrytoPunks and Axie Infinity. CryptoSlam reported that $397 million in CryptoPunk sales happened this August and that the average sale price for CryptoPunk digital artwork is $214,000, with the most expensive one selling for $11.5 million during a Sotheby auction in June. For more information on this story, check out this link here.

A hacker has done the unthinkable after stealing $610 million worth of the cryptocurrency named Ethereum.

As pointed out by Engadget, this very well could be the strangest cryptocurrency heist that has happened so far, as the hacker going by the name Mr. White Hat hacked the cryptocurrency exchange platform Poly Network, stealing $610 million worth of Ethereum. What is strange about this hack is that Mr. White Hate has now returned every single dollar of the $610 million, saying that they're "ready to surrender".

The company has said that it has successfully recovered all of the lost funds, after the hacker infiltrated the network and seized $200 million in an account that requires a password from the hacker and Poly Network. Now, the hacker has said that they were attempting to contribute to the security of Poly Network, or perhaps the $610 million was difficult to convert to fiat currency, and they feared being caught by authorities.

Walmart is reportedly making a move towards adopting cryptocurrency, according to a new hiring position listing.

According to a job listing on Walmart Careers website, the company is looking for a "Digital Currency and Cryptocurrency Product Lead". The job description states that Walmart is looking for someone who will drive the digital currency strategy for Walmart, will be able to partner effectively with design leaders in other departments within the company, commit to a product roadmap, and "Identify Crypto-related investment and partnerships".

There are several qualifications for the position as well; "Bachelor's Degree, 10+ years of experience in product or program management, technology commercialization and/or technology, experience with the cryptocurrency ecosystem and related technologies, and experience in developing strategy and the execution roadmap."

A fourteen and nine-year-old brother and sister combo are making as much as $32,000 a month from cryptocurrency, and here's how.

According to a report from the Dallas Morning News, Ishaan Thakur, aged 14, and his sister Aanya, aged 9, began their journey's into the world of cryptocurrency after hearing their father discuss cryptocurrencies and their rise in value. Ishaan and Aanya started mining Ethereum on an old gaming laptop and reportedly was making $1,000 a month. With their profits, the brother and sister decided to invest in additional equipment to increase their profits.

According to the report from Dallas Morning News, with the help of their father, Ishaan and Aanya are now running an Ethereum mine that has 94 processors mining, with NVIDIA's RTX 3090 being the main graphics card being used. Originally, the crypto mine was inside of the Thakur's garage, but now that profits have increased, the family has decided to move the mine to an air-conditioned data center in downtown Dallas, Texas.

A family did something most families wouldn't. They liquidated all of their assets and put it all on Bitcoin when it was priced at $900.

While that bet certainly paid off considering the price of the cryptocurrency now, but putting everything on the coin in 2017 is certainly a massive roll of the dice. The Dutch family says it put everything on Bitcoin when it was trading for around $900, and now the coins that were purchased are locked in secret vaults that are located on four separate continents.

According to Taihuttu of the so-called Bitcoin Family, "I have hidden the hardware wallets across several countries so that I never have to fly very far if I need to access my cold wallet, in order to jump out of the market." The coins are held in cold storage on hardware wallets that are hidden in a variety of different ways. According to what the family told CNBC, some hardware wallets are in rental apartments, some are at friends' houses, and some are in self-storage sites.