Category: Cryptocurrency News

Cryptocurrency News and Public Mining Pools

Six years ago a boyfriend refused his girlfriend to buy a gift for her dad, because he was “buying the dip” at under $4k BTC.

Crypto history is littered with visionaries and early adopters and most importantly convicted people. Sometimes we have even seen some very dedicated Crypto investors making some seemingly irrational decisions at the time, that still paid off later. Many even used their lifefunds to buy BTC at a levek where literally no one could have imagined…
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Bloomberg Analyst Lauds Bitcoin Energy Shift Amid Rising Hashrate

The Bitcoin mining industry has risen steadily in the past few years thanks to the widespread adoption and increasing interest in the Bitcoin blockchain. This growth has led to a vast increase in Bitcoin’s hash rate, causing concerns regarding the carbon footprint left behind by mining activities. A recent Bloomberg study has shown, however, that the carbon footprint left behind by the Bitcoin blockchain has stalled in recent years.  Bitcoin Unlikely To Burn The Oceans It’s no news that Bitcoin mining is now a big industry on its own, with some mining firms even contributing to the economy and grid of their locations. Major BTC mining companies have also turned years of profits, which have attracted many investors, including large investment firms.  Related Reading: Crypto Analyst Predicts More Trouble Ahead For Bitcoin Price, Here’s Why The issue of climate change and rising temperature have been the focus of many activists for years, with many accusing the energy-intensive activities of BTC mining of contributing negatively. As a result, regulatory agencies have been more insistent that mining corporations investigate safer and cleaner alternatives to fossil fuels for their energy needs.  To this end, Jamie Coutts, an analyst for Bloomberg, revealed that the percentage of Bitcoin transactions that use sustainable energy has increased steadily since 2021 and is now over 50%.  A new report has dropped on the Bloomberg @TheTerminal this morning – a further examination of this symbiosis between #Bitcoin mining and the global #EnergyTransition 🧵 pic.twitter.com/4lPt9cFAl9 — Jamie Coutts CMT (@Jamie1Coutts) September 20, 2023 This rise was particularly kickstarted by China’s ban on Bitcoin Mining in 2021 and Kazakhstan’s cap on the energy used by domestic crypto miners. Since then, the overall hash rate has increased by 286%, yet carbon dioxide emissions have decreased from 600 grams of CO2 per KWh to 296.5 grams of CO2 per KWh. BTC struggles in the mid $26,000s | Source: BTCUSD on Tradingview.com What Does This Mean For The BTC Ecosystem? Bitcoin mining’s energy requirements take up around 50% of a miner’s operational cost. Cheaper clean energy is a way to offset these costs while simultaneously reducing the industry’s emissions or carbon intensity.  The Cambridge Centre for Alternative Finance (CCAF) also recently lowered its Bitcoin electricity consumption estimates by 25% from 105.3 TWh to 95.5 TWh, showing the transition is having better effects. A transition into cleaner energy methods speaks well for BTC and the crypto industry as a whole, considering the blockchain has been heavily criticized in the past by environmentalists. This leaves room for companies to accept Bitcoin as a payment method without facing any kind of backlash.  Elon Musk’s Tesla, for instance, pledged in 2021 to resume allowing BTC payment for its cars when there’s a confirmation of 50% clean energy usage by miners. Related Reading: Report Says Ethereum Is Trading Well Below Fair Value, What’s The Correct Figure? Additionally, Climate technology venture investor and activist Daniel Batten argues that this metric is more than 50%. Bloomberg Intelligence recently concluded that Bitcoin sustainable energy use has now surpassed 50%, contradicting Cambridge’s model. Here’s a deep dive on why: Cambridge’s model of Bitcoin emissions, which stopped updating in Jan 2022, states that Bitcoin is 37.6% from… pic.twitter.com/CP4QPmQvsb — Daniel Batten (@DSBatten) September 18, 2023 On-chain analyst Willy Woo also estimates that the carbon footprint of the Bitcoin mining sector can be turned negative by an investment of around $450 million. Featured image from Fidelity Investments, chart from Tradingview.com

Uniswap launches educational platform with DoDAO

The Uniswap University is similar to learning academies created by centralized exchanges such as Binance, Bitget, and Bybit.

Blackrock ETF application timing

TLDR at the bottom A few months ago, I posted here with a response to the Blackrock ETF application and it’s timing. That post was also named “Blackrock ETF was timed perfectly”. Here was my theory at the time. “My theory is that Blackrock believes the market will drop further from here, and that is…
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Pancakeswap integrates Transak for fiat onboarding on multiple chains

Pancakeswap now allows users to purchase crypto with debit card, Google Pay, Apple Pay, and other methods through Transak.

Why Touching This Bitcoin Level Could Hold The Key For A Rally

The price of Bitcoin was rejected as it approached critical resistance north of $27,000, and selling pressure continues over today’s trading session. If buyers can’t defend current levels, BTC’s price will likely re-test critical support, but this action could trigger a bounce for the cryptocurrency, according to fresh data. Related Reading: Bitcoin Enjoys Growing Favorable Conditions, Top Analyst Says As of this writing, Bitcoin trades at $26,650, with a 2% loss in the last 24 hours. Over the previous seven days, the cryptocurrency has recorded sideways price action and underperformed XRP and Toncoin’s TON, which recorded a 5% and 25% profit, respectively, across a similar period. The Bitcoin Level To Watch If Bears Take Over An analyst crypto research firm Material Indicators shared a fire chart showing the most significant liquidity levels for the BTCUSDT trading pair on Binance. On a monthly basis, traders on this venue have been selling the cryptocurrency and moving liquidity below current levels. The chart below shows that the Binance orderbook for this trading pair looks “thin.” The analyst claims a “small buy wall” at around $24,700, which stands as a “line in the sand” that needs to be defended to prevent further downside price action. Liquidity around this critical level is low, but bulls can inject capital to defend the level in case of further downside. If bulls succeed, Bitcoin will likely rally and reclaim previously lost territory. Otherwise, bears will have the opportunity to press further on the price, returning it to critical support around $23,000 and $22,000. These levels display even less liquidity than $25,000, which could hint at a deeper correction of “Bearadise,” as the analyst called it. Additional data provided by trading desk QCP Capital indicates that macroeconomic forces have played a critical role in influencing the price of Bitcoin. Yesterday, the US Federal Reserve (Fed) sent a “hawkish” surprise across financial markets, limiting any BTC upside momentum. Related Reading: Ethereum Bearish Signal Reappears After Five Years To Threaten ETH’s Price This event had a bearish impact on legacy markets, with the Nasdaq 100 and rates markets breaking “some very key levels,” QCP Capital stated. The trading desk added: (…) reflexivity can take over with the bearish thesis from here. If we are right, then this macro move could seep into crypto markets and take BTC lower with it (Chart 3), albeit with a lower beta as compared to other very stretched macro markets like the NASDAQ. Cover image from Unsplash, chart from Tradingview

Tether acquires stake in Bitcoin miner Northern Data, hinting at AI collaboration

The strategic investment into Northern Data through Tether group company Damoon may involve collaborations leveraging AI, P2P communications, and data storage solutions.

True ETH circulation

How much ETH is owned by active or recently active (past 12 months) wallets over the course of a month? I understand that there is about $120m ETH but how much of that is lost? submitted by /u/othello16 [link] [comments]

a16z suggests Machiavelli to fix decentralized governance

In a blog post, a16z’s Miles Jennings discusses how DAOs can avoid power centralization by applying Machiavelli’s principles.