Cryptocurrency & Mining News - Page 4
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.
AMD just launched its new Radeon RX 6600 XT graphics card, with the Navi 23 GPU and 8GB of GDDR6 memory offering some great 1080p performance... but wow, the crypto mining performance on the RX 6600 XT is pretty damn good.
I'm about halfway into my own ETH crypto mining article using the Radeon RX 6600 XT, but ahead of that I've just seen that VideoCardz is reporting from a report on Reddit that someone has got the Radeon RX 6600 XT mining ETH at 32MH/s at just 55W of power... which is insane. Quite possibly the best crypto mining GPU ever released.
For me, out of the box my XFX Radeon RX 6600 XT Speedster MERC 308 Black was pushing 29MH/s for a shave under 100W of power... already impressive. But then Dizzy Mining reduced the GPU clocks on his Radeon RX 6600 XT down to 1.2GHz, and the GDDR6 clocks up to 2.2GHz -- this pushed the ETH mining performance up to 32MH/s and the power consumption down to just 55W.
Uh, well this isn't good at all -- decentralized finance (DeFi) project Poly Network was hacked, with over $600 million in cryptocurrency stolen by hackers.
Poly Network was hacked and had $600 million taken from where it operates: Binance Smart Chain (BSC), Ethereum (ETH), and Polygon blockchains. Poly Network explained: "We call on miners of affected blockchain and crypto exchanges to blacklist tokens coming from the above addresses".
The team at Poly tweeted out that the $600 million in assets were sent to two addresses, including them in the tweet above. But that's where things get interesting...
The price of Bitcoin has been stuck for some months, and now the coin has finally broken through to a new high.
On August 6, Bitcoin broke through to achieve a multi-month high at $43,231, which is the highest the price has achieved since May 19. The rise in the cryptocurrency's price was predicted by some market analysts using metrics from what the market did just before the 2020 bull run. According to those analysts, whales and retail investors bought large chunks of Bitcoin around this time in 2020, driving up the price.
Those same whales and retail investors seem to be doing what they did in 2020 right now. Rekt Capital, a market analyst, said, "BTC has successfully claimed the 200 day EMA as support, a long-term gauge of investor sentiment towards BTC. BTC has also successfully claimed the 21 week EMA as support, a bull market indicator. The market is getting bullish." Other market analysts have predicted that Bitcoin may reach $150,000 by September this year. More on that story can be found here.
A big rumor has just hit: Exxon Mobil will reportedly announce that it has purchased around $5 billion in Bitcoin, and that it will begin accepting Bitcoin at all Exxon Mobil pumps through the Lightning Network starting in Q4 2021.
The rumor is coming from Oil and Gas News on Twitter, that tweeted: "BREAKING: EXXON MOBIL TO ANNOUNCE ~$5B #BITCOIN BUY AND PLANS TO START ACCEPTING BITCOIN AT ALL PUMPS VIA LIGHTNING NETWORK STARTING Q4 2021 - SOURCES".
This is just a rumor, and requires not a pinch but a bucket of salt... but let's say it did happen. Exxon Mobil accepting Bitcoin as payment at its pumps... it would have to be a truly game-changing decision. I don't think it'll happen as you'd hear this news from a more reputable source, but stranger things have happened.
Bitcoin recently saw a rise in price but has since corrected itself by more than 8.2% after it reached $42,230. Is the famous cryptocurrency out of steam?
According to a few market analysts, Bitcoin is hardly out of steam and is expected to reach new highs later in the year. Nunya Bizniz, an independent market analyst, posted some analysis on Bitcoin bullish trends over the two years it experienced its great halving, and from data, Bizniz predicted that the next Bitcoin peak will form on September 21, 2021.
For those that don't know what the great halving is, it's a pre-programmed event where Bitcoin's supply is halved every four years. Seeking Alpha financial markets contributor Ariel Santos-Alborna explained that "Both tops occurred in November and December, respectively, which could insinuate that the trigger for bear markets has more to do with taxes," and that a "more realistic" top for Bitcoin is between $88,000 and $150,000. For more information on this story, check out this link here.
There is nothing worse than forgetting your password to an account you need to get access to, but imagine being locked out of an account that is holding your $220 million in Bitcoin.
33-year-old software developer Stephen Thomas is experiencing that very thing as he cannot remember the password to his "Iron Key", which contains a stack of Bitcoin that he purchased back in 2011. So, what is an Iron Key? An Iron Key is developed by Kingston Technology and is a USB drive with AES-encrypted directories that only allows for ten attempts, and if ten attempts are incorrect, then the USB wipes all of its content.
The New York Times interviewed Stephen where he said, "I would just lay in bed and think about it: Then I would go to the computer with some new strategy, and it wouldn't work, and I would be desperate again. It was actually a really big milestone in my life where I sort of realized how I was going to define my self-worth going forward. It wasn't going to be about how much money I have in my bank account."
The first music NFT has been sent to the International Space Station (ISS) and around Earth before coming back down to the surface.
Two companies named Nanoracks LLC and Artemis Music Entertainment partnered to send a recording of composer Claude Debussy's piano masterpiece "Clair de Lune" ("Moonlight") to the ISS. Music has been created aboard the floating laboratory before, but this track is special since the companies decided to mint the track as a non-fungible token (NFT), which, according to Artemis Music representatives, makes it the first music NFT to reach orbit.
The music NFT was performed by Hong Kong-based pianist Wing-Chong at the end of last month. The original track was published in 1905 by Claude Debussy. On July 28, the music NFT was sent to the ISS, and then the digital file raced around Earth for 90 minutes, completing one lap of the planet, before coming back down to the surface to be minted as an NFT - marking this moment forever. For more information on this story, check out this link here.
A family has claimed that the Ethereum Foundation hasn't provided them with a key file that would give them access to nearly $7 million worth of Ethereum (ETH).
According to a GoFundMe fundraiser, Yukiko Williams claims that he and his family purchased 3,000 ETH during Ethereum's Initial Coin Offering (ICO) back in 2014. Williams goes on to explain that the Ethereum Foundation sent the family a JSON file that gives access to the wallet containing the stored ETH, but there were technical difficulties, and the family couldn't get access.
Williams states on the GoFundMe page listing, "During the 2014 Ethereum Initial Coin Offering (ICO) Event, we had purchased a total of 3000 ETH Coins because we believed it would become a leading blockchain platform. At the time of the transaction, the Ethereum Foundation was supposed to send over our JSON file, which will give us access to the Ethereum wallet that contained our coins."