Cryptocurrency & Mining News - Page 7
El Salvador is already the first country in the world to adopt Bitcoin as legal tender, but now the country will be giving every single citizen $30 in Bitcoin which is only going to do wonders for the country... and cryptocurrency in general.
Salvadorans will need to simply sign up for the Chivo e-wallet -- with one big cavaet: you'll need facial recognition to sign up for that e-wallet in order to get your $30 in free Bitcoin. El Salvador will need to buy over $100 million in Bitcoin required to give each adult in El Salvador (there's 6.5 million Salvadorans) their $30 worth of BTC.
President Nayib Bukele explained: "The wallet app will even work anywhere with a cell connection, and you won't have to have a cell plan for the app".
One of the world's biggest cryptocurrency seizures just happened as authorities announced hundreds of millions of dollars of cryptocurrencies had been seized.
The announcement comes from the UK Metropolitan Police's Economic Crime Command, who said that the seizure of $158.8 million in virtual currencies is the largest seizure to ever happen in the country. The authorities also believe the seizure could be one of the largest seizures of cryptocurrency to ever happen in the world. The seizure was reportedly related to a money laundering case that was being investigated.
Details of the operation to seize the assets were kept to a minimum, but authorities did say that Crime Command was able to perform the operation after receiving intelligence on asset transfers. Joe Ryan, Detective Constable, said, "Criminals need to legitimize their money; otherwise, it risks being seized by law enforcement. The proceeds of crime are almost always laundered to hide the origin, but by disrupting the flow of funds before they are reinvested, we can make London an incredibly difficult place for criminals to operate." For more information on this story, check out this link here.
MSI has just launched its new CMP 50HX MINER which is the most interesting crypto mining GPU released so far, as it has the same TU104 GPU as the GeForce RTX 2080 Ti -- but with some tweaks.
The new MSI CMP 50HX MINER has the same Turing TU102 GPU as the GeForce RTX 2080 Ti, but with less CUDA cores: 3584 CUDA cores on the CMP 50HX MINER, versus the 4352 CUDA cores on the GeForce RTX 2080 Ti. Another change is that the MSI CMP 50HX MINER has 10GB of GDDR6, versus the 11GB of GDDR6 on the RTX 2080 Ti.
NVIDIA's tweaked Turing TU102 GPU for the MSI CMP 50HX MINER with its 1024 less CUDA cores and 1GB less GDDR6 has lowered power consumption down to 225W -- down from 250W on the GeForce RTX 2080 Ti. MSI requires dual 8-pin PCIe power connectors for its CMP 50HX MINER.
The price has Bitcoin sharply declined in recent days/weeks, and the drop in price across basically the entire cryptocurrency market can be attributed to one thing.
The price of the following cryptocurrencies plummeted on Monday; bitcoin, Ethereum, Cardano, dogecoin, and more, after China announced that it was targeting Bitcoin miners located in Sichaun. The effort made by China to shut down Bitcoin miners in Sichaun is a part of a nationwide effort to reduce electricity. According to Forbes, China is the number one country when it comes to Bitcoin operations, accounting for nearly 80% of all operations globally.
Additionally, Sichaun is the province that holds the second most Bitcoin mining, and due to the shutdown, Bitcoin's hash rate plummeted. According to Chinese state media, the Global Times, local Chinese authorities have said that the country's latest crackdown on the cryptocurrency has reduced China's Bitcoin production by more than 90%. For more information on this story, check out this link here.
Iranian police have just performed their largest cryptocurrency mining farm bust ever, with 7000 computer miners seized in the raid.
State media reports that crypto mining farms have been behind the recent power outages across Iran, with Tehran police chief General Hossein Rahimi explaining that they seized the 7000 computer miners in the west of the capital, inside of an abandoned factory.
General Rahimi said: "The computer miners were found at an abandoned factory in Iran's capital. It was used to carry out illegal cryptocurrency mining activities".
The cryptocurrency market has taken a sharp dive almost across the board. Even people such as Mark Cuban have said he has felt the "hit".
Cuban isn't alone when it comes to feeling the effects of the market dropping, and if you are involved in cryptocurrency in any way, you certainly know how it feels. Vitalik Buterin, the co-creator of Ethereum (ETH), and the world's youngest crypto billionaire, felt a loss of $400 million as Ethereum's value dropped by more than 50% in just 5 weeks.
Forbes reports that Buterin holds 325,001 and 1,366 ETH in two addresses currently valued at around $632,000,000. On May 3, his stack of ETH was valued at $1.09 billion, meaning that around $457,000,000 was lost in between May 3 and now. Ethereum is still ranked the no.2 coin when it comes to market capitalization, Bitcoin being the first with a $606,843,934,844 market cap, and Ethereum with $223,752,321,616. If you are interested in reading more about this story, check out this link here.
Bitcoin has taken a sharp dive in value as of late, but now there might be big some news that could add to its value.
The National Republican Congressional Committee (NRCC), an arm of House Republicans, announced on Thursday that they would be accepting cryptocurrency as a form of donation to the party. In addition, the announcement revealed that cryptocurrency donations will be accepted through a Bitcoin payment service provider called BitPay.
It should be noted that the NRCC won't be storing any cryptocurrency, but instead, the cryptocurrency that is donated will be converted to US dollars before it will become available to the NRCC. Tom Emmer, NRCC head, said that "We are focused on pursuing every avenue possible to further our mission of stopping Nancy Pelosi's socialist agenda and retaking the House majority, and this innovative technology will help provide Republicans the resources we need to succeed."
The entire cryptocurrency market has tumbled, with Bitcoin down 20% in the last 24 hours -- losing $60 billion+ in market cap in the process.
Bitcoin took its huge tumble for a few different reasons: 90% of the crypto mining farms in China are winding down, China is clamping down on cryptocurrencies from all angles, and in the middle of it Bitcoin and every other crypto is being ripped a new one.
It's good to see the media not solely blaming Elon Musk for the streets being turned red with crypto blood, but things are beginning to turn green as I'm typing this news. Bitcoin dropped to $31,000 or so down from $36,000 or so 24 hours ago -- but bounced up from $31,000 up to $32,500 or so at the time of writing.
Texas supermarket giant H-E-B is deploying crypto ATMs at its grocery stores in Texas, with 29 new Coin Cloud ATMs to be setup at H-E-B stores across Texas.
The new Coin Cloud ATMs will allow Texans to buy and sell over 30 different cryptocurrencies, including major cryptos like Bitcoin and Ethereum -- as well as another big crypto: Dogecoin. Coin Cloud is a digital currency provider, which will be providing H-E-B stores with its 29 new crypto ATMs.
Not only will the new Coin Cloud ATMs allow people to buy and sell Bitcoin, Ethereum and Dogecoin -- among other cryptocurrencies, but it will also offer multiple US dollar stablecoins, as well as a variety of DeFi tokens.
The price of virtually every single cryptocurrency has dropped dramatically, with fan favorite Dogecoin plummeting from $0.30 down to $0.17 and there's no stopping it yet -- everything is bleeding right now.
Dogecoin hit a peak of just over $0.44 on June 4 and since then has been tumbling down, finding support between $0.32 and $0.34 over the last few days -- but then the entire market bottomed out and Dogecoin went into freefall.
In the last week Dogecoin has lost over $20 billion market cap, where it was sitting at around $42 billion market cap on June 16 before the steady downhill drop to $23 billion market cap at the time of writing. Dogecoin is down 36% over the last 24 hours at the time of writing (this will change depending on when you read this).