Digital currency mining

- A + A LONDON/MUMBAI (May 17): While the US extended its leading position as the dominant location for Bitcoin mining, China has reemerged as the second-largest locale despite a government ban on the activity last year. The US accounted for 37.84% of global hashrate, a measure of computing power used to extract the digital currency, between September 2021 to January, according to the Cambridge Centre for Alternative Finance, in a report released on Tuesday. The hashrate, also responsible for securing the Bitcoin network, has made a strong comeback to new highs after falling last year. Following the mining ban in China last year, the country has seen a sudden surge in activity through “covert mining operations” and has “re-emerged as a major mining hub” grabbing 21.11% of global hashrate, according to the CCAF. “This strongly suggests that significant underground mining activity has formed in the country, which empirically confirms what industry insiders have long … [Read more...] about China makes a comeback in Bitcoin mining despite government ban

Share to Twitter Share to Linkedin Bitcoin prices have bounced back lately, climbing more than 20% in under 48 hours after approaching the $25,000 level. The digital currency, which is the largest when measured in terms of total market value, climbed to nearly $31,000 earlier today, CoinDesk figures show. At this point, it was up 21.9% from the price of $25,402.04 it reached early the day before, additional CoinDesk data reveals. While the digital currency did manage to recover some of the gains it has lost recently, it is still down more than 50% from its all-time high of nearly $69,000 reached in November. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] Several analysts offered explanations for these latest price movements, in addition to helping describe them relative to broader market trends. Investor … [Read more...] about Bitcoin Prices Rally More Than 20% After Market Rout-Here’s Why

What Is Storj? Storj is a cryptocurrency blockchain platform powering a decentralized system for digital file storage. The Storj network is powered by computers worldwide called nodes and requires the Storj ( STORJ ) digital currency for payment. Storj was founded in 2014 and operates with more than 10,000 active nodes with over six petabytes of available storage capacity. Users pay for storage space with the Storj token, an ERC-20 token that works on the Ethereum blockchain. As of this writing, the total value of Storj tokens is more than $200 million, making it a top 150 digital currency by market capitalization . Key Takeaways Storj is a cryptocurrency blockchain platform powering a decentralized system for digital file storage. Use cases include video storage and streaming, software distribution, backups, and cloud-native apps. The Storj cryptocurrency operates on the Ethereum network, which means anyone with an Ethereum wallet can buy, sell, or … [Read more...] about Storj (STORJ) Cryptocurrency Definition

An illustration picture taken in London on December 30, 2021, shows gold plated souvenir cryptocurrency coins arranged by a screen displaying a NFT (Non-Fungible Token) logo. [AFP/YONHAP] The possibility of earning non-fungible tokens (NFT) in virtual gaming worlds shook the market and led to a rapid increase in the stock prices of a number of companies, until it became apparent that NFTs may be stuck in these virtual worlds. NFTs are unique, irreplaceable and irreproducible digital objects that represent the digital ownership of assets. The tokens are backed by blockchain technology to give buyers proof of ownership. Since late last year, a number of game companies have been contemplating the addition of NFTs to their games. The tokens could be discovered during gameplay, or points won by players could be redeemed for the tokens. The innovation raised the possibility of a useful workaround to a Korean law that prevents gamers from turning points earned in the gaming world … [Read more...] about Korean law on gamers may make metaverse useless

Share to Twitter Share to Linkedin P oker chips, high stakes, and big money. Throughout last week, a few yards away from the Caribbean's largest casino in the Bahamian capital, Nassau, about 2,000 people gathered at the Baha Mar resort’s convention center to discuss cryptocurrencies and the next iteration of the World Wide Web a.k.a Web3. Just last month, a similar albeit much larger crowd took over Miami Beach to pay homage to the invention that started it all—bitcoin. But if the 25,000-person expo in South Florida felt like Coachella for the bitcoin faithful , the latest summit, dubbed “Crypto Bahamas”, inched closer in resemblance to the World Economic Forum’s Davos conference, not minding the casual dress code. Pretty much everyone from CEOs to developers wore flip-flops, sneakers, and t-shirts bearing slogans such as “NFTs are a scam” and “Burnt Finance”. Co-organized by billionaire Sam Bankman-Fried’s crypto derivatives exchange FTX and the … [Read more...] about Royal Flush: Inside Crypto’s Most Exclusive Gathering

Share to Twitter Share to Linkedin An important cryptocurrency collapsed last week and the fallout is having far-reaching effects on stocks, bonds and other risk assets. Unfortunately, this is only getting started. Terra Luna LUNA , the digital coin in the Terra ecosystem, crashed last week to near zero, a stunning fall from $67.64 a week ago. Luna was supposed to underpin UST UST , a stablecoin algorithmically pegged at one U.S. dollar. When the UST peg broke, panic ensued. Investors sold risk assets of all stripes. For many investors this contagion effect feels like déjà vu. The Russia and Asia currency crises of the 1990s roiled markets and wiped out fortunes. The news seemed to come out of nowhere then everything suddenly went off the rails as investors learned about exposure at money center banks in the United States and in Europe. A cryptocurrency inspired contagion has the potential to be much worse. Crypto has become a substantial … [Read more...] about Crypto’s LUNA Catastrophe Threatens Conventional Assets

Share to Twitter Share to Linkedin The metaverse – everyone is talking about it, but no one is exactly sure what it actually is. This makes it a bit difficult if we want to put together a list of platforms or experiences that represent the best of what it could be. But if we take it to mean persistent, connected digital environments which focus on providing immersive experiences for users, we can have a go at highlighting some projects – existing and on the horizon - which stand out. Not all of the projects highlighted here involve virtual reality, or decentralization, or cryptocurrency. Although those are all technologies that are likely to have a place in the metaverse , it isn’t strictly essential that they are part of every metaverse. So rather than focusing on examples that tick all of the boxes, today’s best examples tend to be those that do one or more of the core elements particularly well. Not all of these are fully functional yet (and one … [Read more...] about The 10 Best Examples Of The Metaverse Everyone Should Know About

LedgerX co-founder Paul Chou is building on the sale of the company he created by raising capital for a new kind of cryptocurrency that can be spent on Earth, the Moon, Mars and beyond. I t’s just before midnight on a rainy autumn Friday. Paul Chou and his entourage dodge puddles on the runway of the Teterboro Airport in New Jersey as they board a Gulfstream private jet bound for Las Vegas. The flight attendant cracks open a bottle of champagne and with a nod welcomes the passengers aboard. The girls disappear into the back and emerge minutes later wearing sequined cocktail dresses and feather boas. Sensing she’s in for a party, the attendant offers a round of tequila shots just as the inertia from the plane taking off to the Bellagio Hotel & Casino forces her laughing into her seat. Ostensibly, Chou, 38, is celebrating not only his birthday but the sale for an undisclosed amount of LedgerX, the ground-breaking bitcoin derivatives firm he co-founded with his wife in … [Read more...] about Bitcoin Trailblazer Raises Capital To Create Interplanetary Cryptocurrency

Share to Twitter Share to Linkedin When you purchase Bitcoin from a centralized exchange, you never know whether your account is credited with actual Bitcoin or paper Bitcoin. Paper Bitcoin is a "I owe you" Bitcoin, implying that the exchange owes you a certain amount of Bitcoin. The only way to ensure that the Bitcoin you purchased is genuine is to withdraw it to a self-storage wallet or sell it for another asset or product. To save on transaction fees, most exchanges will not create a separate wallet for your account and transfer your Bitcoin to that address. The Bitcoin balance displayed on your centralized exchange account is a number next to your name on a spreadsheet. This explains why, despite Bitcoin's 10-minute block time, exchanges can instantly transfer Bitcoin to your account. That is, the time it takes to transfer Bitcoin from one address to another. Exchanges keep their Bitcoin in a wallet or set of wallets where they possess the private keys … [Read more...] about Why Keeping Bitcoin On An Exchange Is Driving The Price Down

When volatility and uncertainty started to plague the financial markets in October, strategic traders started to shift their focus to segments such as reserve currencies , precious metals and fixed income. Given the recent news that Newmont Mining Corporation ( NEM ) is acquiring Goldcorp, Inc. (GG) in a $10 billion deal, all eyes are now on the metals and their associated miners. In the paragraphs below, we'll take a look at the state of the precious metals market and try to determine where prices could be headed from here and how active traders will look to position themselves over the months ahead. ETFS Physical Precious Metals Basket Shares (GLTR) Active traders who are trying to get a sense of a sector's trend often turn to technical tools such as trendlines and moving averages . For those interested in precious metals, a favorite fund to follow is the ETFS Physical Precious Metals Basket Shares ( GLTR ), which has recently broken above the combined resistance … [Read more...] about 3 Charts That Suggest Precious Metals Are Headed Higher