Cryptocurrency & Mining - Page 18

Cardano (ADA) is getting more attention from both retail and institutional investors, according to a report from NewsBTC.

The report states that retail and institutional investors are becoming more attracted to cryptocurrency due to its energy footprint. Since ADA is a proof of stake blockchain, it requires much less energy to run, unlike other cryptocurrencies such as Bitcoin and Ethereum. Tesla recently stopped accepting Bitcoin as payment for its electric vehicles, citing the energy costs of mining Bitcoin.

NewBTC states that ADA has attracted more than $24 million in investments from institutions and that the coin is one of the leading cryptocurrencies to get the attention of investment funds that are willing to open to their wallets. At the moment, 70% of the entire ADA supply is currently being staked, and the price of the coin is sitting at around $1.20. For more information on this story, check out this link here.

After close to 10 years in the dark, a dormant bitcoin address with over $26 million worth of bitcoin has just been activated.

The bitcoin wallet was opened up just months after the cryptocurrency itself was created by Satoshi Nakamoto, who disappeared in 2012 -- the year that the bitcoin wallet with 791 BTC was set up. The same wallet has just been activated, with rumors swirling that it could be the wallet of the secretive Bitcoin creator himself, Satoshi Nakamoto.

Twitter bot Whale Alert tweeted the news, with 640 of the 791 bitcoins transferred out and into an unknown wallet. Some users replying to the Twitter thread were saying that it was someone that remembered their password, and how good it would be to be that person -- because that bitcoin was worth $10,000 in 2012 and is now worth $26 million.

GPU prices will still take many months to get anywhere near close to normal, but now second hand GPU and gaming laptop prices in China are coming down... at least for the GeForce RTX 3060.

The Block is reporting that a "large batch" of GeForce RTX 3060 graphics cards with prices ranging anywhere between $336-$450 or so... but the seller didn't get many buyers, so the prices were reduced to $270. Another seller is getting rid of every single gaming laptop they purchased for crypto mining, and selling them for around $1000.

It all started around a week ago, where flash sales began popping up with bulk amounts of GeForce RTX 3060 graphics cards -- as you can see from these pictures. I think you'd be find buying a second hand GeForce RTX 3060 right now, as it could only have had a few months on the market -- so a few months of use.

The world of cryptocurrency mining is a beautiful -- and sometimes strange one, with Ukrainian crypto miners busted using over 3800 separate PlayStation 4 consoles. Yes... over three thousand eight hundred PS4 consoles.

The Security Service of Ukraine officials discovered over 50 processors, over 500 graphics cards, and over 3800 PlayStation 4 consoles and seized them. You'd think that the PS4 wouldn't be the best at crypto mining, but it has 8GB of GDDR5 memory clocked at 5.5Gbps on a 256-bit memory bus which provides up to 176GB/sec of memory bandwidth.

This isn't too bad and would actually be pretty damn good if you had a lot o PS4s... you know, like 3800+ of them laying around and ready to be painstakingly installed, setup, and configured. The 3800+ PS4 consoles were discovered in the mine as it was drawing so much power the authorities noticed it, with the crypto miners using fake meters to hide that they were illegally pulling electricity from the grid.

Locals that live around a lake in New York City are claiming that the temperature of the lake has increased because of a nearby Bitcoin mining farm.

NBC News has reported that people who live around the Bitcoin mining facility on the shores of Seneca Lake, in upstate New York, are saying that the lake's temperature has increased to the point where it feels like a "hot tub". Residents of the area have held protests outside of the Greenidge Generation Bitcoin mining plant, with protesters claiming that the mining plant is polluting the air and warming the nearby lake.

Greenidge Generation Bitcoin mining plant has told NBC that it's operating within the confinements of state and federal environmental permits and that "The environmental impact of the plant has never been better than it is right now," said Greenidge CEO Jeff Kirt. The Bitcoin mining facility uses the water from the lake to cool down its miners, and the company behind the mining has said that the temperature of the water its discharging is half of what the environmental permit it's operating under allows.

Tesla and SpaceX CEO has been posted a string of cryptocurrency-related memes on his personal Twitter account, and they don't seem to be having the same effect as what they used to.

Musk took to his Twitter account to post a Harry Potter meme that shows Harry sitting in front of the mirror in Philosphers Stone. Harry asks Dumbledoor what the mirror does, Dumbledoor replies by saying "it shows us nothing more or less than the deepest, most desperate desire in our hearts." The image below that is of candle chart showing massive increases of value.

A few months ago tweets such as this would cause massive market shifts that would drive up the price of popular cryptocurrencies such as Bitcoin and Dogecoin. However, that doesn't seem to be happening anymore, or at least to the same degree of what it was in the past. Perhaps the days of Musk's tweets rocking the cryptocurrency boat have come to an end? For more recent news on cryptocurrency, check out this link here.

There are over 170 apps available on Android that are crypto mining scams, with 26 of the cloud mining apps available publicly on the Google Play Store.

Security firm Lookout found the apps, saying that they "advertise themselves as providing cloud cryptocurrency mining services for a fee". The team did a detailed analysis of the apps and found that there was in fact no cloud crypto mining going on -- shock, horror -- no, really.

Google has since removed the 26 apps that weren't actrually cloud crypto mining from the Play Store, with over 86,000 people scammed by the crypto mining apps. At least $350,000+ was lost, either through the purchase of the app itself, or through fake upgrades and other services in-app.

Bitcoin.org has been hit by an "overwhelming attack" in the form of a DDoS attack, with the attackers demanding a ransom or they'll keep the attacks coming.

Cobra is the operator of the original Bitcoin website, and said that Bitcoin.org was hit by attacks who demanded 0.5 BTC in ransom -- worth around $17,000 right now. Cobra reached out to Decrypt, and said: "It's a very overwhelming attack, it's a struggle to deal with, and I don't know how long we'll be down for".

Cobra then tweeted out: "It's a very overwhelming attack, it's a struggle to deal with, and I don't know how long we'll be down for".

Elon Musk is not shy of controversy, with the SpaceX and Tesla founder sharing and then quickly deleting a meme about fellow billionaire Warren Buffett.

The tweet was posted up on Monday and was deleted within a few hours, with Musk tweeting an image of Warren Buffett and a fake quote that reads: "Find as many coins as you can. And fast!" except he didn't say that... and that's probably why Musk deleted the tweet.

As for what Warren Buffett actually said, back in 2018 he said in regards to Bitcoin and cryptocurrency: "There's two kinds of items that people buy and think they're investing: One really is investing and the other isn't. If you buy something like bitcoin or some cryptocurrency, you don't really have anything that has produced anything. You're just hoping the next guy pays more".

Dogecoin holders would be rejoicing at the price turnaround for their precious meme-cryptocurrency, as the coin is currently sitting in the top rankings.

At the moment, Dogecoin has surpassed $253 billion in market capitalization and is sitting in the 5th spot. Most of the coin's increase in value can be attributed to Elon Musk's vocal support for the coin on his Twitter account, as well as Snoop Dogg. It was just the other day that Elon Musk tweeted about Dogecoin causing the value of the cryptocurrency to spike 10%.

Now, Dogecoin has experienced its lows in the past weeks, as have most other cryptocurrencies. However, Dogecoin is trailing behind the big cryptocurrencies now, such as Bitcoin, Ethereum, Tether, Binance Coin, and Cardano. Since January, Dogecoin has increased in value by 2,400%. For more information on this story, check out this link here.

There's been one person who has been on top of the COVID-19 pandemic and that is Adam Gaertner, who has now launched Ivermectin Coin -- yeah a cryptocurrency based on the anti-parasitic drug that's used to treat several diseases and can be used as a COVID-19 treatment.

Ivermectin Coin has the very best intentions, with Gaertner pointing out that "The pandemic is not simply a medical matter, either; there is a very significant political angle. You might have noticed. Without total eradication, driven by the people of the world, overbearing government responses will quite surely continue. We must completely eradicate COVID".

It was this very reason why Ivermectin Coin was created -- with Gaertner adding that it is his plan to "unite all of the medical and legal groups, all the world over, with a single purpose: to eradicate this virus, starting on July 24th. The heroic efforts of many of these groups have made impacts; many are alive today that would not have been otherwise".

Dogecoin has seen a recent uptick in its value after Tesla, and SpaceX CEO Elon Musk posted a few tweets to his Twitter page.

On July 1, Musk took to his Twitter to post a play-on-words tweet that replaces the word "shark" with "doge". The tweet references the extremely popular "Baby Shark Dance" that has nearly been viewed 9 billion times since it was posted to YouTube in 2016. That tweet from Musk directly correlates to Dogecoin's price spike by nearly 10%.

The following morning Musk followed up with another tweet that was a meme referencing The Godfather and a caption that reads, "Release the Doge!". It seems that the latest string of tweets from Musk has been impactful to the price of Doge, but not as impactful as they once were. Back in April, Musk let loose a series of tweets that caused the price of Dogecoin to more than $0.40. For more information on this story, check out this link here.

During a live event, co-chair of the House blockchain caucus said that there is a growing "sentiment" in Congress that cryptocurrency users are involved in a "criminal conspiracy".

Democratic Rep. Bill Foster of Illinois, the co-chair of the House blockchain caucus, said during an Axios virtual event on June 29 that there need to be new laws written that bridge gap between what is illegal with cryptocurrencies and what is legal. Foster said, "We're going to have to establish a law between the legal and illegal regimes here."

One of the suggestions Foster made was that US regulators need to be able to identify an individual that is trading anonymously (Bitcoin and other cryptocurrencies) in case that individual is performing fraudulent transactions. Foster said that regulators must be granted the power to identify digital-asset holders through a "very heavily guarded key" and reverse transactions in Bitcoin.

As Bitcoin and other cryptocurrencies have grown in adoption and overall interest, the US government has been posed with the question of how regulation should be implemented.

Many cryptocurrency investors are against the idea of regulation as it infringes on the very principles of why the blockchain and cryptocurrencies are popular in the first place - decentralization. Having any form of regulation for cryptocurrency transactions would add a third party that traders may not necessarily trust or believe is warranted to be there. You can see where the divide currently lies and where new laws need to be written to bridge the gap.

Democratic Rep. Bill Foster of Illinois, the co-chair of the House blockchain caucus, said on June 29 that the US government regulators need to have the power to identify digital-asset holders and reverse transactions in bitcoin or other cryptocurrencies. Foster says, "You have to be able to go to a court to unmask participants under some circumstances." Foster suggests that new laws should be written that would allow a court (third-party) to identify a cryptocurrency use through a "very heavily guarded key."

Robinhood reached into its back pocket yesterday and paid a $70 million fine for "for systemic supervisory failures and significant harm suffered by millions of customers" but meanwhile, the company was stacking the walls with the cash it was making with Dogecoin.

Robinhood explained in its IPO filing that Dogecoin accounted for 34% of its cryptocurrency transaction-based revenue in Q1 2021, up from 30% in Q4 2020. Elon Musk celebrated the news with a new tweet, where he said "Release the Doge!" with a meme of the Godfather saying "You come to me at runtime. You tell me the code you are executing does not compile".

The IPO reveals that Robinhood has close to 18 million monthly active users, around $80 billion in assets under its management -- and that it bled out $1.5 billion in Q1 2021. So that $70 million fine yesterday... a drop in the bucket for Robinhood.

A non-fungible token (NFT) titled "This Changed Everything" has sold for much less than anticipated when considering its historical value.

Sir Tim Berners-Lee, a co-inventor of the World Wide Web, has created and sold an NFT for the source code of the World Wide Web. The auction for the digital artwork was hosted on Sotheby's and shows a time-stamped file of the 9,555 lines of source code on a high-res image. The digital artwork also includes a 30-minute animation of the code being written and a letter from Berners-Lee.

Considering the significance the World Wide Web had on modern-day life and how much of an integral piece of code it is in the history of the internet, the NFT only sold for $5.4 million. While that still is a substantial amount of money, it's not that much compared to digital artist Mike Winkelmann's Beeple, which sold for over $69 million.

New reports are indicating that a George Soros investment firm has been given the thumbs up to begin trading cryptocurrencies.

People close to the matter spoke to author Michael Bodley regarding Dawn Fitzpatrick, the chief investment officer for Soros Fund Management, a private investment firm founded by George Soros. The sources said that Fitzpatrick has given the go-ahead for the firm to begin trading Bitcoin and other cryptocurrencies. The sources decided to remain anonymous but revealed that the trading has occurred in the last few weeks.

Additionally, the sources claimed that Fitzpatrick and her team have been investigating cryptocurrencies and other digital assets for a prolonged period of time and that this latest venture is much more than just testing the waters with digital assets. The adoption by Soros, if it is true, maybe a good thing for the price of Bitcoin, but it also could be very bad, as Soros is famous for shorting the British pound in 1992 where he earned $1 billion profit in a single day, making him his reputation we know today by assisting the in breaking of the Bank of England.

The world of cryptocurrency has seen better days as of late after China announced its crackdown on the main digital currency, Bitcoin.

China announced its ban on Bitcoin, and in the following weeks, the value of the Bitcoin steadily dropped for most of May and June. The price dropped all the way down to $30,000 from a high in April of $63,000. Some positive news for the cryptocurrency is coming out of Mexico as the nation's third-richest individual has said that he is currently "working" to get his bank to accept Bitcoin.

The announcement comes from billionaire and cryptocurrency advocate Ricardo Salinas Pliego, who has openly backed Bitcoin and even recommends any investor to have Bitcoin in their portfolio. Salinas personally holds 10% of his liquid portfolio in cryptocurrency, and according to Bloomberg Billionaires Index, Salinas' net worth has risen $2.8 billion in 2021 to $15.8 billion.

A statement on Saturday revealed that Binance has been banned in Britain by the UK regulator watchdog.

The announcement comes from the Financial Conduct Authority (FCA), who stated that Binance was "is not currently permitted to undertake any regulated activities without the prior written consent of the FCA." The FCA didn't exactly state why the exchange has been banned, but Binance Markets Limited has until June 30 to notify the FCA that it will comply with its demands and also notify users in the U.K. of the now imposed restrictions.

However, a Bianace spokesperson stated to CNBC, "The FCA U.K. notice has no direct impact on the services provided on Binance.com ... Our relationship with our users has not changed. We take a collaborative approach in working with regulators, and we take our compliance obligations very seriously. We are actively keeping abreast of changing policies, rules and laws in this new space."

Despite the price of Bitcoin plummeting in recent weeks, Mexico's third-richest individual has said that the cryptocurrency is the "new gold".

Ricardo Salinas Pliego is Mexico's third-richest individual and has amassed a net worth of more than $15 billion through several business interests under the conglomerate Group Salinas. Pliego showed his backing for Bitcoin on Twitter, where he confirmed the recommendation to purchase Bitcoin over fiat currencies if an investment is the goal of the buyer.

Pliego responded to Michael Saylor, the CEO for MicroStrategy, where he said, "That's totally right, Bitcoin is the new gold, but too much more portable, transport Bitcoin is so much easier than having your in pockets gold bars ... and i know that I'm going to be attacked by gold lovers". Saylors tweet referenced an interview with Pliego where he states that Bitcoin can outperform the US dollar in wealth preservation. If you are interested in reading more about this story, check out this link here.