Cryptocurrency & Mining - Page 23

Elon Musk's tweet about Tesla now not taking any Bitcoin as payment for Tesla vehicles caused a significant dip in cryptocurrencies value.

It was only a few days ago that Musk announced that Tesla would not be taking any Bitcoin as payment for Tesla vehicles, citing the energy needed to mine Bitcoin. Musk said that Tesla still intends to use the currency for transactions "as soon as mining transitions to more sustainable energy". Since Musk has halted Bitcoin payments to Tesla due to environmental concerns, Tesla is now looking towards other cryptocurrencies that use much less energy.

According to attorney, John E Deaton, Musk has handed "the best ad campaign" to Ripple's (XRP) executives. Ripple CEO Brad Garlinghouse and other executives aren't strangers to promoting how energy-efficient Ripple is, with Garlinghouse recently stating that XRP is 10,000 times more energy-efficient than Bitcoin. XRP isn't the only energy-efficient cryptocurrency on the market. Other options include one of Musk's personal favorites - Dogecoin.

Earlier this week, Elon Musk announced that Tesla has suspended Bitcoin payments for Tesla vehicles, and now the billionaire is working with the developers behind Dogecoin.

A recent Tweet found on the official Elon Musk Twitter account reveals that Musk is currently working with the developers behind Dogecoin to "improve systems transaction efficiency". Musk goes on to say that the coin is "potentially promising", which may be a hint towards Tesla potentially accepting Dogecoin as a payment, which is something Musk has asked his audience before.

Almost every time Musk Tweets out about Dogecoin, the price of the coin is affected significantly. This time is no different, and since Musk's Tweet reveals he is working with Dogecoin developers, the impact of his news caused a spike in the coins price. At the time of writing this, the coin's price increased by 17.42%, bringing it to its current price of $0.51. For more information on this story, check out this link here.

Back at the end of March, Elon Musk announced that Tesla are accepting Bitcoin (BTC) as payment for vehicles, but now Musk has suspended BTC payments for his car company.

In a recent Twitter post on Musk's official Twitter account, Musk revealed that Tesla has "suspended vehicle purchases using Bitcoin". The image, as seen above, showcases that Tesla is concerned about the rapidly increasing use of fossil fuels for Bitcoin mining and transactions. Musk also states in the image that "cryptocurrency is a good idea on many levels" and that Tesla "believe it has a promising future, but this cannot come at a great cost to the environment".

Additionally, Musk says that Tesla won't be selling any of its Bitcoin holdings, and that the company still intends to use the currency for transactions "as soon as mining transitions to more sustainable energy". What is probably the most interesting part of the post is that Musk says that "we are also looking at other cryptocurrencies that use <1% of Bitcoin's energy/transaction".

Vitalik Buterin, the young co-founder of the Ethereum blockchain network regifted more than $1 billion worth of SHIB tokens to the India Covid Relief Fund. The move sent the market value of the token plummeting.

Today, Buterin sent 50 trillion SHIB tokens to the India Covid-19 Relief Fund with an approximate market value of $1.2 billion. The value of the tokens has since dropped, but it is still a massive donation, especially from someone in their 20's.

Vitalik Buterin has plenty of money. With the current value of Ethereum, he is a billionaire. However, he received these tokens for free without asking for them. Buterin reportedly received trillions of SHIB tokens along with large denominations of other so-called meme coins. The tokens were originally sent to his public crypto wallet unsolicited by the founders and community members of Shiba Inu coin as a marketing stunt.

Dogecoin has turned a Goldman Sachs executive into a multi-millionaire with its recent journey towards the moon, with Aziz McMahon, a managing director and head of emerging market sales, leaving the company after Dogecoin made him millions.

The banker had been with Goldman Sachs for 14 years, with sources of The Guardian saying that they "believed it was a substantial sum and that he had since left Goldman Sachs". Aziz reportedly made the money on Dogecoin from his personal finances, and not through trading cryptocurrencies for Goldman Sachs.

Fortune talked with a Goldman Sachs spokesperson who confirmed that Aziz had indeed departed the firm, with Fortune adding that Goldman Sachs "declined to offer any additional details on McMahon's departure. The eFinancialCareers piece suggested he might be starting a hedge fund, but it did not provide any information backing that claim".

Elon Musk has been a long advocate for the now extremely-popular cryptocurrency Dogecoin. Now, the billionaire is asking if Tesla should accept payments in Dogecoin.

Back at the end of March, Musk announced that it was now possible to purchase Tesla vehicles with Bitcoin, which reinforced the idea that cryptocurrencies will eventually become more apart of everyday society. Now, Musk is publicly asking his 53 million Twitter followers if Tesla should accept Dogecoin as payment for vehicles. At the time of writing this, the public vote is sitting at 81% saying "yes", and only 22% saying "no".

Since the Tweet from Musk is so recent (10 minutes ago at the time of writing this), it's uncertain how the public vote will affect the price of Dogecoin. However, if the jump Bitcoin took when Tesla announced it was accepting the currency, is any indicator ($54K to $57K), we can expect that Dogecoin would have the same kind of reaction if Musk allowed purchases in Dogecoin.

It was only a few hours ago that SpaceX announced its new DOGE-1 Mission to the Moon... yes, Dogecoin is going to the Moon and now SpaceX and Tesla founder -- and recent SNL host -- Elon Musk is tweeting about it.

Musk tweeted just minutes ago that "SpaceX launching satellite Doge-1 to the moon next year", he added that there are 3 firsts that the Doge-1 mission will do:

He of course follows it up with "To the mooooonnn!!" and then embeds the Dogecoin Song - To the Moon from YouTube like the troll he is. Dogecoin trading volume skyrocketed instantly, as well as the price of Dogecoin which climbed from $0.54 to $0.59 within 10 minutes.

The crazy bastard is actually going to do it... SpaceX and Tesla boss Elon Musk will actually put a literal Dogecoin on the literal Moon with SpaceX announcing it is launching the DOGE-1 Mission to the Moon -- the first-ever commercial lunar payload in history that is paid for entirely in cryptocurrency Dogecoin.

Musk said back on April 1 that he would put a "literal Dogecoin on the literal Moon" and now that's happening, with traditional banks and fiat-based money not paying for this but rather DOGE. Geometric Energy Corporation's DOGE-1 Mission to the Moon will see Geometric Space Corporation (GSC) mission management collaborating with SpaceX to take a 40kg CubeSat riding on a Falcon 9 lunar payload mission in Q1 2022.

The payload itself will take in lunar-spatial intelligence from sensors and cameras onboard, with its integrated communications and computational systems. Geometric Energy's Chief Executive Officer Samuel Reid said: "Having officially transacted with DOGE for a deal of this magnitude, Geometric Energy Corporation and SpaceX have solidified DOGE as a unit of account for lunar business in the space sector".

Elon Musk is sitting in Studio 8H in New York City right now preparing to host Saturday Night Live, which you can read about and stream it directly from SNL's own YouTube -- a first for the show.

We all know Musk will have to bring up cryptocurrency and more specifically Dogecoin at some point, with the price already skyrocketing over the last week or so and up around 20,000% this year alone. But now we have betting odds that there's a 40% chance that Dogecoin will skyrocket to the moon and up to $1 or more.

Online sportsbook MyBookie says there's a 40% chance that Dogecoin will reach $1 during Musk's hosting of SNL, even after Musk said in a video of himself from April -- where the Tesla boss said: "People should not invest their life savings in cryptocurrency, to be clear. That's unwise. If you want to speculate and have some fun - there's a good chance that crypto is the future currency of Earth".

The internet is waiting for Elon Musk to mention or discuss Dogecoin on Saturday Night Live on May 8, which just so happens to be exactly 6942 days since SpaceX was founded... you know, 69 + 42(0) and stuff.

But when it comes to Dogecoin there is a single wallet out there in the world that has around 28% of all of the Dogecoin cryptocurrency in circulation, which at the current price (at the time of writing) of $0.64 would be worth over $23 billion. Yes... that's $23 billion with a really, really big B.

There are 129,489,119,200 Dogecoin in circulation, with around 23% of them working out to be 36,256,953,376 Dogecoin. 36,256,953,376 Dogecoin at the current price of $0.64 means that single Dogecoin wallet holder is sitting on a rather gigatic $23 billion -- or $23,000,000,000.

Dogecoin, a cryptocurrency that was created based on the internet meme, has seen massive popularity in recent months, taking the coins market capitalization to a record $79 billion.

Dogecoin co-creator Billy Markus did an interview with Benzinga back in March, and throughout that interview, he revealed that he sold his holdings of the Dogecoin back in 2015 for about what it costs to buy a used Honda Civic ($10,000). What is ironic about this transaction is that now Dogecoin is worth more than the entire Honda Motor Co. Ltd company. Honda has a market cap of $54 billion.

Here's what Markus said, "No one would have heard of (Dogecoin) in the first place if it wasn't a meme, (and) Elon wouldn't (have tweeted) about it. Dogecoin being a lighthearted, friendly, and amusing meme is the main thing that separates it from the pack - taking away its main differentiation and turning it into a generic crypto seems like a pretty bad idea."

Saturday Night Live will be hosted by SpaceX and Tesla founder Elon Musk aka The Dogefather this weekend on May 8, which has not only the cast of SNL triggered but many other people around the world.

First off, the official SNL account on Twitter tweeted out an image of Musk at Studio 8 ahead of his hosting on May 8 where he is in front of a stack of paperwork. I doubt this is a script since Musk in a devilish delivery said he wanted to see "just how live Saturday Night Live really is" -- and more NDA paperwork that he would be required to sign.

Elon quickly retweeted it without adding anything to it, so it was just an image share of him at Studio 8H with Saturday Night Live, preparing for his hosting on May 8.

If you purchased Dogecoin at any point before February or March 2021, then you'd be one happy person right now -- with the people's crypto (in Elon Musk's own words) skyrocketing towards the moon (and hopefully, beyond).

But now we have Galaxy Digital CEO and founder Mike Novogratz speaking with CNBC on Wednesday, with the topic of cryptocurrency Dogecoin which is up around 19,000% since this time last year. Novogratz told CNBC: "When you think about the whole spirit of what this crypto revolution is, there's something pure in what dogecoin has done. It's a little bit of a middle finger to the system. People are unhappy with the current financial system. They just are".

He continued: "It would be very dangerous to be short, I'll tell you that much. I'm not participating on the long side. I think it's dangerous because once that enthusiasm dies, if it dies, you could have a long way down. But I don't want to discredit. It's shocking that it happened".

Dogecoin has been mooning for a few days now, with the cryptocurrency that started off as a joke and one of the biggest memes used on the internet, now has a market cap of $70 billion and is worth more than freaking Twitter.

The price of Dogecoin has mooned over 14,000% in the last 12 months -- yes, that's 140x the price in a year -- with the big start of Dogecoin skyrocketing in February 2021. SpaceX and Tesla founder Elon Musk started tweeting out about the cryptocurrency, saying it Dogecoin was the "people's crypto" and that "SpaceX is going to put a literal Dogecoin on the literal moon" on April 1, 2021.

But then more Dogecoin fuel was thrown onto the fire, with Elon Musk announcing that he would be hosting Saturday Night Live on May 8 and that he wanted to "find out just how live Saturday Night Live really is" on April 25 -- and then came the tweet on April 28 with a simple "The Dogefather SNL May 8".

Dogecoin is flying not just up to the Moon, but beyond and probably to Mars at this point as the people's crypto -- Elon Musk's words -- hits new record high after new record high.

Dogecoin was priced at $0.56 at the time of writing, with a market capitalization of around $70 billion... $27 billion more than the second-largest social networking site in the world: Twitter. Twitter has a market cap of around $43 billion at the time of writing.

To put Dogecoin's new $70 billion+ market cap into perspective, Dell has a market cap of $73.6 billion, COVID-19 vaccine maker Moderna has a $69 billion market cap, Activision-Blizzard has a market cap of $68.9 billion, and even Heineken with its $67 billion market cap. Dogecoin might have started off as a joke, but it's serious business now.

Chia Coin is looking to do some damage to the HDD and SSD market now that it has pushed past using 1 exabyte of storage capacity -- a gigantic 5.7x increase since just the beginning of April.

Chia Coin will kick off its official launching into the crypto trading world next week, with the team at Chia reporting that storage capacity for Chia Coin has reached a peak of 1.14 exabytes -- or a huge 1143 petabytes, enough to install Call of Duty: Warzone a couple of times at least.

At the beginning of April, we saw Chia Coin consuming around 120 petabytes of storage -- but now that has flown up to 1143 petabytes and has people concerned. Chia Coin Mining requires gigantic amounts of free storage space as well as lots of reading and writing to your HDD or SSD, so consumer-focused SSDs aren't the best thing for Chia Coin Mining.

If you are a Coinbase user, you will now be glad to know that you can make purchases of cryptocurrency with PayPal.

Coinbase has recently announced that it will be allowing its customers that are based in the United States to make purchases of cryptocurrency by using debit cards and bank accounts that are linked to their PayPal accounts. Coinbase has said that being able to purchase cryptocurrency via PayPal adds a new way of purchasing crypto on the platform that dodges the traditional wire transfer method.

Coinbase users will reportedly be able to "buy crypto instantly" without having to link any bank account information or credit card information to exchange. Purchasing crypto via the PayPal method has a daily cap of $25,000. Coinbase has only made this feature available to users in the US. However, the exchange platform plans on releasing this feature to more countries "in the coming months". For more information on this story, check out this link here.

It seems that Chia Coin cryptocurrency mining is taking off faster than we thought, with GALAX now warning its customers that if they use one of their GALAX-branded SSDs for Chia Coin mining that they might not have warranty.

GALAX China has officially warned its customers that if they are mining Chia Coin on their SSDs that the writes onto the SSD are much higher than typical use and can slow down, or even permanently damage the SSD. GALAX China explained on their website, with the post translated from Chinese to English.

The company explains: "If users use our SSD products for mining/farming and other abnormal operations, the data write volume is much higher than the daily use standard, and the SSD will slow down or be damaged due to excessive data write volume".

Elon Musk, the CEO of both SpaceX and Tesla, will be making an appearance on the decades-long TV show Saturday Night Live.

Elon will be hosting Saturday Night Live (SNL) on May 8, and to get that hype train rolling for that episode, Musk has tweeted out "The Dogefather SNL May 8". Since Musk has referenced cryptocurrency, and in particular Dogecoin, there's a high probability that Musk will be mentioning cryptocurrency in one way or another. Most likely Dogecoin, which he has been a big player in its increasing value.

Musk mentioning Dogecoin, or the big daddy Bitcoin, will bring attention to these coins from the millions of people that are watching SNL. If even a small portion of these people begin to invest in cryptocurrencies, the market could see an increase, purely based on the 50-years of audience building SNL has done. Time will tell. Musk will be hosting SNL on May 8. For more information on this story, check out this link here.

We've been hearing so much about the new NVIDIA CMP range of mining cards, we recently saw the ASUS CMP 30HX mining card with RGB lighting for max crypto mining speed -- and now we've got a look at the ASUS CMP 40HX mining card and its hash rate performance.

Our friends over at VideoCardz have the scoop again, with someone sending them a photo from some internal testing of the new ASUS CMP 40HX mining GPU. The new ASUS CMP 40HX mining card was installed into a new crypto mining system with 8 of them together, with 43.7MH/s versus NVIDIA's promised 36MH/s from the stock CMP 40HX mining GPU.

Each of the ASUS CMP 40HX mining cards is using 135W which makes them pretty power efficient for crypto mining, with its 8GB of GDDR6 memory and 185W TDP total -- it's 50W under TDP which isn't bad at all. We also get a tease of the purported pricing, with pricing on the ASUS CMP 30HX mining GPU "initially planned" at $799, but the company has reportedly revised the MSRP to $599 -- while the ASUS CMP 40HX that was teased today will launch at $699.