Cryptocurrency & Mining - Page 6

The co-creator of one of the world's most popular cryptocurrencies has taken some shots at SpaceX and Tesla CEO Elon Musk.

In a recent interview with Australian publication Crikey, Jackson Palmer, the co-creator of Dogecoin, has gone after Musk with heavy criticisms, describing the billionaire as a "grifter". Notably, Palmer said to the publication that "when Musk was saying something about crypto, I said Elon Musk was and always will be a grifter, but the world loves grifters. They love the idea that they may also be a billionaire one day, and that's the dream he's selling."

Furthermore, Palmer said to the publication that he has directly spoken to Musk after he developed a software script that automatically reported cryptocurrency scams in users' replies. Palmer said that Musk reached out to him to acquire the new script, and it "became apparent very quickly that he didn't understand coding as well as he made out," as he asked Palmer, "How do I run this Python script?"

The zero-emission Bitcoin mining project is a collaboration between Tesla, Blockstream, and Jack Dorsey's Blocks (formerly known as Square).

The new facility will be capable of 30 Petahashes per second and powered exclusively by a 3.8 megawatt (MW) solar farm and a 12 megawatt-hour (MWh) Megapack battery system, provided by Tesla. A recent tweet from Blockstream shows that it has now received a delivery of four Megapack batteries.

Tesla previously invested $1.5 billion into Bitcoin in early 2021 and followed up that move with accepting Bitcoin as a payment option for new vehicles. Within a few days, Tesla reversed this decision, citing concerns regarding the use of fossil fuels and their associated emissions when it comes to powering Bitcoin mining and transactions.

Family Guy star and actor Seth Green recently debuted a new trailer for his new upcoming TV show called "White Horse Tavern" at Gary Vaynerchuk's VeeCon.

Recently taking to Twitter, Green revealed that he has fallen victim to a common phishing scam where he lost one Bored Ape, two Mutant Apes and one Doodle NFT. Not only has Green been impacted monetarily from the scam, but it has opened up a can of worms when it comes to copyright laws as the TV show is based around Bored Ape Yacht Club #8398 (Fred Simian), which Green now no longer officially owns.

Since an NFT is proof of ownership, and Green has now been scammed the NFT, he no longer has the commercial rights to use that Bored Ape as the main character of the show, as the rights have been moved onto the current owner. However, Green has argued that since the "art was stolen" the current owner doesn't hold commercial rights, as would be the case if the transaction was made with real money.

A US regulator has charged two men for being behind a multi-million-dollar cryptocurrency scam that stole funds from more than 100 investors.

The Commodity Futures Trading Commission (CFTC) has published a new press release that states Sam Ikkurty of Portland, Oregon, and Ravishankar Avadhanam of Aurora, Illinois, have been charged with fraudulently soliciting $44 million from investors as well as controlling and operating a commodity pool that was never officially registered with authorities. Notably, the two individuals scammed investors through asset income funds such as Ikkurty Capital, Rose City Income Fund, and Seneca Ventures.

The two men promoted their scam projects via YouTube videos and directed investors to their website where investors were informed that their funds would be used to generate return-on-investment (ROI) annually. The US regulator explained that instead of directly stealing funds from investors the two individuals "misappropriated participant funds by distributing them to other participants, in a manner akin to a Ponzi scheme."

Microsoft founder Bill Gates has recently participated in a Reddit Ask Me Anything (AMA) where he explained why he doesn't hold any cryptocurrencies.

Gates took to Reddit yesterday to answer numerous questions ranging from his philantropy ventures into climate change, vaccines, COVID-19, how young people can impact the world and cryptocurrencies. Gates was asked what he thought about Bitcoin and other cryptocurrencies, Gates stated that he doesn't own any cryptocurrencies and that he likes "investing in things that have valuable output".

The Microsoft founder explains that companies "valuable output" is based on the product that they make and the quality of it, while the "value of crypto is just what some other person decides someone else will pay for it so not adding to society like other investments." These remarks from Gates about cryptocurrency are hardly surprising as the world's fourth richest individual said in March that if you have less money than Elon Musk and are involved with cryptocurrencies "probably watch out".

NVIDIA released the GeForce RTX 3050 8GB and GeForce RTX 3080 12GB graphics cards LHR-locked -- well, LHRv3 or Lite Hash Rate v3 -- and now that's been 90% unlocked.

The current LHRv1 and LHRv2 models are completely unlocked now through software, with no hardware modifications or requirements, with LHRv3 models now 90% unlocked. The LHRv3-based RTX 3050 8GB and RTX 3080 12GB models are based on new versions of the algorithm, but the algorithm has now been cracked to 90% at least.

NiceHash QuickMiner v0.5.4.2 RC requires NVIDIA 512.15 driver (or newer) in order to work, but now if crypto miners (and bigger crypto farms) had a bunch of RTX 3050 8GB or RTX 3080 12GB graphics cards... now they can be unleashed (90% is bloody close to 100% and I'm sure it won't be long until LHRv3 is fully unlocked... give it a few more days).

Russia is making a move to accept Bitcoin and other cryptocurrencies as a form of payment following harsh international sanctions placed on the nation.

The news comes from Denis Manturov, Minister of Industry and Trade of the Russian Federation, who recently spoke at an event called New Horizon, where he explained that Russia is planning on legalizing Bitcoin and other cryptocurrencies to bolster its economy. Notably, Manturov said that the question is "when it will happen" it's "how it will happen and how will it be regulated". Furthermore, the Russian official said that both the Russian government and Central Bank are on board with the adoption.

Despite Russia's clear motivation toward adopting Bitcoin, the Bank of Russia recently pushed for a complete ban on cryptocurrencies, citing it could undermine the Russian financial system. It seems that tune has been changed since the harsh international sanctions have crippled Russia's economy, with Russia's President Vladimir Putin pleading with financial regulators to come to an agreement on how digital currencies should be regulated.

The future of Bitcoin as a payment network was questioned by FTX CEO Sam Bankman-Fried, who recently criticized many aspects of the digital currency.

The founder and CEO of FTX, which often goes by his initials as SBF, said that Bitcoin has very little future as a payments network due to its inefficiency and high environmental costs associated with its proof of work algorithm. The 30-year-old billionaire went on to say that the BTC network isn't capable of handling thousands/millions of transactions-per-second (TPS), but also mentioned that BTC can be transferred over a layer two protocol such as Lightning.

However, Bankman-Fried also took to Twitter to clarify that criticisms weren't all that he said, as he mentioned that Bitcoin could have a potential future in becoming a store of value. If that were to become Bitcoin's future, the digital currency would change from being viewed as a currency to an asset, similar to how gold is viewed.

A YouTuber has been caught in the middle of a largescale market wipeout where billions of dollars were lost, leaving many investors hamstrung.

YouTuber Olajide Olayinka Williams "JJ" Olatunji, or KSI, took to his "KSICrypto" Twitter account to reveal his investment in the cryptocurrency project LUNA. The YouTuber showcased a $2.8 million investment into Terra Luna, which last week began experiencing large amounts of sell-offs, causing the market cap of one of the top 10 cryptocurrencies in the world to fall from $40 billion in April to $1.6 billion as of May 16.

The value of LUNA dropped dramatically, one coin was worth nearly $100 on May 1, and on May 16, its worth 0.00023c. In the span of 24 hours, 99% of the value of LUNA was wiped away, causing many individuals, such as KSI, to be caught up in the bloodbath of red candles. Many individuals that were either holding LUNA before the crash, or decided to purchase it while it was crashing and weren't able to sell before it was too late have taken to Twitter and other social platforms to voice their losses.

As virtual reality increases in quality through development, it will undoubtedly bleed into other industries other than gaming.

Technology is currently emerging through the gaming industry, and while virtual reality games will no doubt be a very big part of culture in the years the come, the technology has wider applications. NASA has recognized the potential in the technology and has partnered with Fortnite creator Epic Games to issue a "challenge" for game developers.

NASA has challenged game developers to create virtual reality assets with Unreal Engine 5 that are based on Mars. Game developers won't be starting completely from scratch as the MarsXR environment already contains a vast "world" that spans hundreds of miles squared, features day/night cycles, realistic martian weather, gravity, spacesuits, vehicles, and other assets. Developers have the option of using the already supplied assets or adding in their own to create their Mars experiences.

A 25-year-old woman from Texas has claimed that a man she met on Tinder has scammed her out of the fortune left to her by her murdered father.

Divya Gadasalli has told Bloomberg that she received $8 million from her mother's estate following her father's murder in 2015. Gadasalli told the publication that she had fallen victim to a scam called "pig butchering", which involves a scammer emotionally manipulating victims into investing in cryptocurrency projects, the scammer showing the investment is gaining profits, then advises more money should be invested, then the project's account is locked away from the investor or drained entirely.

Gadasalli met Jerry Bulasa on Tinder, and began talking to him for several months. Throughout that time, Bulasa touted to Gadasalli that he was making lots of money through cryptocurrency investments, which Gadasalli said coincides with a time in her life when she was craving financial independence. Gadasalli said to Bloomberg that Bulasa told her she could become a financial hero to her family.

For the very first time in Louisville, Kentucky, a home has been purchased with Bitcoin, making local history in just eight seconds.

A report from The Courier reveals that up until February 2022, there was no record of Bitcoin being used to purchase real estate in the area and that the seller of the property was looking to liquidate several homes to invest in Bitcoin. The buyer contacted the seller and informed him that he was able to purchase the property in Bitcoin, which was later sold for $65,000, according to Ashley Brown, a real estate agent with Louisville-based Homepage Realty.

The buyer spoke to the publication and said, "I'm happy that I can help try and bring this technology to the future. There's so many uses for [Bitcoin], and I think we're at the very, very early stages of it. It'll be interesting to see where it goes." While commission fees, title fees, and recording fees were paid in US dollars, the actual purchase of the property was made through a direct transfer of Bitcoin from one wallet to another, taking about eight seconds to complete and a small fee of $0.70 cents versus a traditional fee of $25-$30.

The world's most popular cryptocurrency is continuing its downtrend in price and has now reached lows that haven't been seen since January 2022.

In late March, Bitcoin recovered in price, hitting just over the $48,000 mark, and maintained the $45,000 to $47,000 range for the first few days of April before it fell off a cliff on April 6 and began a downtrend that brought the price to below $40,000 by April 11. For the majority of April, Bitcoin maintained a side-ways but overall trickling downward trend that has eventuated into a massive sell-off on May 8 that caused the price to plummet to $33,000.

Glassnode, a blockchain data and intelligence provider generating innovative on-chain metrics, published some bearish indicators that may have influenced the now-falling price of Bitcoin. A recent Twitter post on Glassnode Alerts suggests that any Bitcoin whales holding at least 1,000 coins may be leaving the market in preparation for a further decrease in Bitcoin's price.

The Humanity 2.0 Foundation has signed a strategic partnership with Sensorium, a metaverse developer.

The new public-private partnership aims to bring the Vatican's heritage into the digital world by creating a VR and NFT gallery for content from the Vatican. Humanity 2.0 is a non-profit "Vatican-affiliated organization." According to a Sensorium spokesperson corresponding with VICE's Motherboard, "it would be correct to say that the Vatican is entering the metaverse and the world of NFTs."

On Saturday, a new NFT collection launched, and due to the demand for the project, the Ethereum blockchain broke.

The new NFT collection comes from famed developers Yuga Labs, known for creating the extremely popular Bored Ape Yacht Club NFT project. Yuga Labs released a new NFT collection that featured 100,000 land deeds for the upcoming Bored Ape metaverse called "Otherside". With Bored Ape's being the most popular NFTs, the land deed drop from Yuga Labs was expected to have high interest, but very quickly, the developers and users attempting to purchase the land plots learned that there was very high demand on the Ethereum blockchain.

Users attempting to purchase the land plots were met with exorbitant gas fees, which caused many users to be forced into paying thousands in failed transactions. Notably, CNET reports that the Ethereum network was "unstable for hours" following the launch of the NFT collection, and Yuga Labs even took to its Twitter account to announce that the developers "we're sorry for turning off the lights on Ethereum for a while".

Famed investor Warren Buffet has taken another shot at the world's most popular cryptocurrency, Bitcoin.

The 91-year-old investor spoke with Charlie Munger, another famed investor that has openly spoken out about his distaste for Bitcoin, at Berkshire Hathaway's annual shareholder meeting on Saturday. Buffet said that even if all of the Bitcoin on the planet was offered to him at a price of $25 dollars, he wouldn't buy it. The same sentiments were echoed by Munger, who described the cryptocurrency as "stupid", "evil," and something that causes its owners to "look bad".

Buffet explained that he won't get involved in Bitcoin because the cryptocurrency doesn't produce anything, and its value is purely determined by someone willing to purchase the cryptocurrency at a higher price. Furthermore, Buffet said that instead of purchasing Bitcoin, he would prefer to invest in the US's farmland or housing in the form of apartments. Both Buffet and Munger have previously voiced their distaste for Bitcoin, with Munger even describing the cryptocurrency as a "venereal disease".

The price of one of the most popular cryptocurrencies has skyrocketed by 30% since Tesla, and SpaceX CEO Elon Musk announced the purchase of Twitter.

Twitter's board has accepted Elon Musk's offer to purchase Twitter, and according to a press release by Twitter, the company has entered into a "definitive agreement" to be acquired by Musk. As soon as the news of Twitter officially being acquired by Musk, the price of the Tesla CEO's favorite cryptocurrency, Dogecoin, began to increase steadily, and over the course of 24 hours, it rose by 30%.

Dogecoin has been a long favorite of Elon Musk's cryptocurrency coins, with it being one of the three cryptocurrency coins that Musk says he holds. The other two are Bitcoin and Ethereum. On March 14, 2022, Musk wrote on Twitter that he still owns his Bitcoin, Ethereum, and Dogecoin and that he won't be selling it anytime soon.

A hacker has targeted the Bored Ape Yacht Club Instagram account with a phishing attack that many individuals have fallen victim to.

The official Bored Ape Yacht Club Twitter account posted an update on April 25 that stated there wasn't going to be a "mint going today", as it had discovered that the Bored Ape Yacht Club Instagram account was hacked. The Twitter account also reminded its followers not to click on any links or "link your wallet to anything".

Reports now indicate that the hacker infiltrated Bored Ape's Instagram account to post a fake update on Bored Ape's upcoming LAND airdrop that requires users to connect their wallet accounts. The website that was included in the post to Bored Ape's Instagram approved users' wallet link requests that likely contained a transaction request to send NFTs from the user's wallet to the website's wallet address.

Former NASA astronaut Scott Kelly has launched a new NFT collection titled "Dreams Out of This World".

The collection has been released exclusively on the OpenSea NFT marketplace, and features artwork commemorating his time spent in space made in collaboration with the Orange Comet content creation studio. The funds raised from the sales of the NFTs will help the people of Ukraine amidst the Russian invasion of the country.

Meta recently revealed information on how it will be enabling its creators to monetize and earn money from using its metaverse.

Meta has taken to the news section of its website and created a video that explains to creators that they will be able to create and sell virtual items, services, and experiences within Horizon Worlds. Meta outlines that these tools to enable monetization for creators are steps toward "our long-term vision for the metaverse". Throughout Meta's announcement, the company failed to mention how much of a cut it would be taking on each transaction.

For context, the world's largest NFT marketplace, OpenSea, takes a 2.5% cut on every transaction, and Apple's App Store takes anywhere between 15% and 30%. According to a spokesperson for Meta, who told CNBC, Meta is planning on taking an overall cut of up to 47.5% on each transaction, and that includes a ""hardware platform fee" of 30% for sales made through the Meta Quest Store". The full paragraph from CNBC can be found below.