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Bitcoin Miners Rebut Claims Made By US Democratic Legislators To EPA Administrator

Bitcoin Miners Rebut Claims Made By US Democratic Legislators To EPA Administrator

Recently a letter was sent to the United States Environmental Protection Agency(EPA) administrator Michael Regan about rectifying the insurance about BTC mining and its environmental impact. Noted by the MicroStrategy CEO Michael Saylor, there are over 50 signers against the misconceptions in the documents. The letter was eventually signed by Democratic Representative Jared Huffman and 22 other members of Congress. 

The Democrats requested EPA to ensure that the digital asset miners always comply with the foundational environmental statutes like Clean Air Act, Clean Water Act, and more to prevent electronic waste and noise pollution.

The Bitcoin Mining Council (BMC) responds to eight points and answers them at length. According to the original letter, the BTC mining facilities pollute the communities, which is inaccurate. Bitcoin mining facilities produce no pollution whatsoever compared to what the power-generating facilities do. According to the letter, they have stated that a single Bitcoin transaction can easily power the average US household for a month,

However, BMC has replied with claims and proof of stake that bitcoin mining is less energy-intensive. However, the industry group wasn’t ready to believe it.

The letters also point out that many miners are leveraging high-performance computing with plenty of beneficial applications beyond the standard Bitcoin and digital assets. Nonetheless, the BMC had replied to most of the assumptions with different types of proof stating how bitcoin mining isn’t a necessary evil for the world.

The BMC originated from a meeting of North American Bitcoin miners and currently has about 44 advisory members. They also publish multiple reports and proof of work about the environmental impact of bitcoin mining.

Microstrategy Buys The Dip By Purchasing 660 Bitcoin For $25M

Microstrategy Buys The Dip By Purchasing 660 Bitcoin For $25M

The recent dip in BTC has not hindered the confidence of investors like Microstrategy as the company recently announced a major purchase of BTC for nearly $25M. According to the official figures available from US Securities and Exchange Commission, Microstrategy announced purchase of 660 BTC in recent months. The total purchase was made between the end of December and January.

The company so far holds about $3.78 billion worth of BTC, and their average purchase price amounts to about $30200 per BTC. However, the latest purchase of BTC works at an average of close to $37865 per BTC. In total, the company holds about 125,051 bitcoins that are currently worth close to $4billion.

It is interesting to note that Microstrategy had recently faced the heat from SEC due to its accounting practices related to BTC. The objection was about Microstrategy’s data pertaining to the purchase of BTC based on GAAP methods. The company had allegedly used non-GAAP methods to report data about BTC purchases. Following the objection by SEC, the shares of MicroStrategy had fallen to low levels in January.

Purchasing BTC in large quantities is nothing new to Microstrategy as the company had bought BTC recently at even higher prices. In December, the company announced the purchase of 1914 BTC at an average rate of $49229. Similarly, another purchase was made in the same month, during which the company bought 1434 BTC at an average price of $57477. Back in October, the company bought about 7002 BTC at an average price of $59187.

Belgian Startup Debuts Bitcoin Payments For Parking Tickets

Belgian Startup Debuts Bitcoin Payments For Parking Tickets

In recent months, the use of cryptocurrency as a payment method for common goods and services has increased. In select Belgian cities, Seety, a digital parking firm, has made it possible to pay for parking tickets with Bitcoin. The Belgian startup also launched this crypto payment function in Antwerp and Brussels for the sake of development.

Seety, a Belgian digital parking business, has added support for crypto payments for parking tickets.

In Antwerp and Brussels, the startup, which is part of the Belgian accelerator program Startup, has launched a crypto payment function. Users of Seety will be able to pay for parking tickets in both cities with Bitcoin (BTC) starting on Thursday.

Customers can also utilize cryptocurrencies like Ether (ETH), Bitcoin Cash (BCH), Dogecoin (DOGE), and Litecoin (LTC), as well as stablecoins like Dai and USD Coin, in addition to Bitcoin (USDC). Customers who want to pay for a parking spot with CryptoCurrency will use the ‘coins’ to purchase Seety credits on the company’s app. Customers will not be charged any extra costs if they utilize cryptocurrency.

By 2022, the Seety App is expected to have over 355,000 users in Belgium and the Netherlands, with an annual turnover of over 2 million euros. Using cryptocurrency to pay for parking spaces is symptomatic of how cryptocurrencies could eventually acquire wider popularity in everyday microtransactions, according to the company. Seety believes that as tokens become more environmentally friendly, crypto use will increase.

Using bitcoin to pay for parking tickets extends back to the discontinued Brawker app in 2014. Crypto payment methods for microtransactions are getting more popular these days, despite considerable barriers still standing in the way of broader use. Crypto credit cards and stablecoins are also making it easier for merchants to integrate cryptocurrency payment alternatives into their platforms by simplifying the process of spending cryptocurrencies.

Crypto ‘here To Stay,’ But Its Role Is Unclear, Columbia’s Kim Lew Says

Crypto ‘here To Stay,’ But Its Role Is Unclear, Columbia’s Kim Lew Says

The crypto analysts and tech-savvy people like CEO Kim Lew are expecting cryptocurrencies to stay here forever. President and CEO of Columbia Investment Management Company even said in an interview to yahoo.com that cryptocurrency would definitely have profound effects, and there are multiple avenues where it can go. Kim Lew explained that the crypto ecosystem provides many opportunities, and it will help people and businesses to construct new things like non-fungible tokens and stablecoins that will help businesses to grow.

Lew said that it is crucial for the Columbia Investment Management Company to manage the $11-billion endowment of Columbia University to experiment with the crypto assets. She also added that it gets stressful to make sure that the company builds great relationships with people that are experts so that the company can leverage their expertise to choose which way would be helpful. She said that though cryptocurrencies are not an asset class that Columbia will invest money in them because of the risks involved and the highly volatile market. Lew also believes that cryptocurrencies will be great in the future and is a great opportunity for long-term investors. Lew believed that it is clear that bitcoin’s role is crucial and it will definitely play a great role, but the role is not clear.

Kim Lew has worked for around 13 years in executive roles at Ford Foundation; she was hired to supervise the endowment of Columbia University in the United States. She added that she has a great interest in cryptocurrencies, and she is not alone as a survey has been done of institutional investors where it was revealed that around 70% of investors expect to invest in cryptocurrencies in upcoming years.

It has been clear that cryptocurrencies are increasing, and people believe in these digital assets, but still, they hesitate to invest because of the volatile market and risks involved in these currencies. The role of cryptocurrencies seems unclear, and there is no clarity on where cryptocurrencies will be in the next five or ten years. Some consider bitcoin as a medium of exchange, while some analysts say bitcoin has the features of gold. Though bitcoin has great potential, it is yet to see what will be the future of bitcoin and other cryptocurrencies.

Komodo Launches Atomicdex Beta Bringing Atomic Swaps To Ethereum And Bitcoin

Komodo Launches Atomicdex Beta Bringing Atomic Swaps To Ethereum And Bitcoin

A pop-up released by AtomicDEX from Komodo shows Ethereum holds a connection with different networks of UTXO and bitcoin.

Friday was a highlight with the launch of a new project by Komodo, namely AtomicDEX. Are you aware of the platform? Not much? It is a platform that aims at empowering the “no trust atomic swaps” within blockchains, making a connection with Ethereum at present and tokens to Dogecoin, Bitcoin, and Litecoin.

With the help of atomic swaps, users get a chance to indulge indirect trading of native tokens. Most of the people investing in ETH (Ether) and BTC (Bitcoin) together might end up exchanging coins ownership on the blockchain, eliminating representations in tokenized form as an intermediary.

Komodo developed a wallet with dedicated multiple blockchains which lay stones for the integration. It also has a feature for “atomic swap.” At 6 PM (UTC) Friday, an official launch was announced for the trading network’s beta.

When defining atomic swaps, it refers to an interaction occurring in a cross-chain type that holds a presence of special techniques in cryptography –like the ones depending upon HTLCs (hast-time locked contracts) showing an assurance that there’s a complete occurrence of two exchanges or it’s not happening in any manner. With this, one can understand that two exchange parties will perform the transaction by simultaneously swapping funds. And if there’s any part taking steps back, it results in canceling the transaction.

JC (agent of pseudonymous transactions in Komodo)speaks up while talking in an interview that the primary goal of the project is to build a connection among most of the environments in blockchain, with integrations that are upcoming including the ecosystem for Cosmos. When talking in a general manner, it’s a mechanism that works as a blockchain supporter but a manual addition is necessary for every integration. Also, a team is made to work upon the privacy of integrating XMR (Monero) coins but with a priority at a lower stage.

In the exchange, it relies on using a traditional model present in an order of decentralized books with techno-based support. It holds a contrasting relationship with the famous decentralized type of exchange in the present time, depending upon automated makers in the market like the popular Uniswap. Also, oracles in “Band Protocol” are being used within the project to set a benchmark for target prices. For plans, the team is working upon a plan for Chain Link integration, since “we can’t just get married to a single solution for oracle,” stated JC.

JC gave a reassurance on the system that it won’t hold complete control on the funds or won’t custody funds anytime within the operating mechanism, depicting that “process gets slower with decentralization, so we can’t completely bang it together.”  The mechanism holds a potential limitation that is a higher level of security requirement, wherein blockchains are to be kept on the waiting list for trade confirmation, noted by JC, but it something common in the general DEXs.

In bridging the gap between tokens and blockchains, one of the valid options is atomic swaps, it’s a process existing in a centralized form because of certain technical restrictions imposed on it.

Easy Trading With Immediate Edge App

Easy Trading With Immediate Edge App

Online trading has become more accepted and used by traders. Since the lockdown, online trading, and most of the businesses have gone online, education, marketing, and affiliate programs are excellent examples.

There was more fast development in trading to help people gain profits in less time—all this while keeping with the law. Several companies launched their respective apps to facilitate the trading to more people from home.

What is the immediate edge app?

Immediate Edge App is one of those apps that help you trade without hiccups and difficulty—developed to understand trading more quickly for any user. The benefit includes many. However, the most important is saving your time. The time you will need to spend to study market data and find out the trading opportunity yourself.

How can the immediate edge help you with trading?

The easy trading withthe immediate edge app will help you by providing a tool that can guide you to trade more fluently and efficiently. You can get maximum benefits from this app, whether you are a beginner, intermediate, or advanced user. One must comprehend how trading apps can be more efficient than traditional trading.

There is another angle of online trading, and that is there is a minimal margin of error. It helps to remove big hurdle between the newcomers and the belief in this business. Online trading also involves your expertise in practicing the app operation along with the trading skills. When someone becomes an expert in both, then there is a good chance of making progress.

Benefits of using immediate edge app

  • Easy to set up and use.
  • The earnings achieved is solely belonged to the user.
  • Brings the power with advanced AI technology.
  • There are no hidden fees.
  • It’s compatible with several devices.
  • It provides an automatic trading process.
  • Option to select the financial assets of user choice.

 The Immediate Edge takes these stresses away and takes care of your trading with proper guidance—this app is built with advanced AI algorithms. The security measures are rigid to give you a more pleasant trading experience. Immediate edge monitors the market data for you to find a fair trade.

Another fantastic feature of Immediate Edge is that it follows your trading strategies and adopts your trading habits. After a certain amount of time you have spent with the app, it may look for the trades suitable for your criteria faster.

Hodlers Thankful As Bitcoin Is Gainful: Bad Crypto News Of The Week

Hodlers Thankful As Bitcoin Is Gainful: Bad Crypto News Of The Week

Bitcoin is gaining a lot of attention across the world. The latest value in terms of dollar remains at $17000, and it reached a three year high recently. Everyone from the Wall Street Journal to the Queen is talking about the rise in Bitcoin. The searches for Bitcoin reached their highest level this year on Google. Market experts feel that this trend is likely to continue for many more months if the governments do not interfere.

Paypal fueling growth in Bitcoin

It is interesting to note that Paypal has taken close to 70% of newly minted Bitcoins since it started offering cryptocurrency services a month ago. The remaining 30% of the newly minted Bitcoins are taken up by Square’s Cash App. These new players want to offer tough competition to the other players in the market as they are not able to handle the demand properly. In recent weeks, Coinbase has suffered a number of outages whenever there was a spike in demand.

Future of Bitcoin

According to market analysts, the future of Bitcoin looks very bright, and it can even head to $160000 if the bull run continues for many years. On the other hand, a bottom can be seen at $25000 levels for the long term.

However, this is one side of the analysis, as the other side looks scary. The US financial authorities have proposed a new rule that would lower the threshold for an international transfer to $250. In this way, they want to regulate the cryptocurrencies and seek more information about who is using the currencies and for what reasons. The Trump administration is not in favor of stopping down, and such proposals may get complete support from other agencies.

Even the new President-elect Joe Biden is not a huge fan of cryptocurrency, and he has appointed Janet Yellen as Treasury Secretary. Yellen has experience handling the Federal Reserve as Chairman, and he had earlier called Bitcoin as “anything but useful.” Considering these views from the people in power, analysts feel that the rise of Bitcoin can be halted by these forces.

The rise in prices of cryptocurrencies was in sync with the rest of the markets as the pandemic situation continued worldwide in 2020. If the new government in the US provides some stimulus to boost the markets, it can also have an impact on the investments coming into the crypto markets.

Bitcoin, Tesla, And Avocados: Millennial Traders Are Saying ‘Ok Boomer.’

Bitcoin, Tesla, And Avocados: Millennial Traders Are Saying ‘Ok Boomer.’

Did you know that the prices of Bitcoins have significantly risen to 7%? And along with that, Tesla stock had a surprising surge from $330.21 to $449.76, which approximately comes to 36.2%.

Why is it so popular?

There is a significant notion that millennials clearly love Tesla and bitcoin. Why? Both Tesla and Bitcoin have seen an unnatural correlation between them in recent times for various reasons. It might be due to the Bitcoin price movements and the S&P 500. Another reason could be related to the fact that there is more trading among individuals with respect to bitcoins and Tesla.

A surprising point here is that the day when finally bitcoin got a spike above $11,000 across significant cryptocurrency exchanges. There has been a significant high record of Tesla.

There has been a wide market sell-off of the Nasdaq whale and fell by 10% in six days. But just after the initial drop, there was a quick recovery in the U.S stock market, and the tesla prices have rebounded. And again, coincidentally, bitcoin rose from $10,300 to $11,100 at the exact same time. Again surprising, right?

Why such a strange correlation?

Furthermore, there is another asset that has a surprising correlation with them, and that is avocados. How? The spot price of Mexico city Hass Avocado from Michoacan has shifted quite similarly to bitcoins since June 2018. Quite strange, right?

According to Bloomberg’s reports, on July 14, a massive number of 10,000 day traders on Robinhood purchased Tesla shares injust a single hour at the day’s peak, which is massive!

Even the major data providers have found such correlations. Thus, this is not a hoax! TradingView and Tesla, and bitcoin were undoubtedly the most viewed assets in July as the demand rose gradually.

And the demand for the avocados rose as well along with them as usual. One of the evident reasons could be pandemic. How? This is because, during the epidemic, the demand went high and crazy. Thus, with massive arrival at a time, they have shipped smaller volumes to the United States since it was already well-supplied by California and Mexico. And the drop in the prices gave a boost in the overall demand, which has been pretty high if compared to the previous years, according to the reports published earlier.

Conclusion

As of now, traders have been expecting another breakdown of the amount approximately from $10,110 to 10,200. The Tesla stock market has also dropped in pre-market trading significantly. The rate is 2.55%, and again it has coincided with the prices of Bitcoin. This is a pretty crucial resistance that has great significance. There have been constant reports and analytics that are closely recording the changes and the numbers. This is excellent for better insight regarding the nature of the graph. And this will result in better prediction of the shares of such markets regarding the upcoming years.  However queer it might seem, but they are coinciding certainly for the right reasons here!

Bitcoin, Tesla, And Avocados: Millennial Traders Are Saying ‘ok Boomer.’

Bitcoin, Tesla, And Avocados: Millennial Traders Are Saying ‘ok Boomer.’

Did you know that the prices of Bitcoins have significantly risen to 7%? And along with that, Tesla stock had a surprising surge from $330.21 to $449.76, which approximately comes to 36.2%.

Why is it so popular?

There is a significant notion that millennials clearly love Tesla and bitcoin. Why? Both Tesla and Bitcoin have seen an unnatural correlation between them in recent times for various reasons. It might be due to the Bitcoin price movements and the S&P 500. Another reason could be related to the fact that there is more trading among individuals with respect to bitcoins and Tesla.

A surprising point here is that the day when finally bitcoin got a spike above $11,000 across significant cryptocurrency exchanges. There has been a significant high record of Tesla.

There has been a wide market sell-off of the Nasdaq whale and fell by 10% in six days. But just after the initial drop, there was a quick recovery in the U.S stock market, and the tesla prices have rebounded. And again, coincidentally, bitcoin rose from $10,300 to $11,100 at the exact same time. Again surprising, right?

Why such a strange correlation?

Furthermore, there is another asset that has a surprising correlation with them, and that is avocados. How? The spot price of Mexico city Hass Avocado from Michoacan has shifted quite similarly to bitcoins since June 2018. Quite strange, right?

According to Bloomberg’s reports, on July 14, a massive number of 10,000 day traders on Robinhood purchased Tesla shares injust a single hour at the day’s peak, which is massive!

Even the major data providers have found such correlations. Thus, this is not a hoax! TradingView and Tesla, and bitcoin were undoubtedly the most viewed assets in July as the demand rose gradually.

And the demand for the avocados rose as well along with them as usual. One of the evident reasons could be pandemic. How? This is because, during the epidemic, the demand went high and crazy. Thus, with massive arrival at a time, they have shipped smaller volumes to the United States since it was already well-supplied by California and Mexico. And the drop in the prices gave a boost in the overall demand, which has been pretty high if compared to the previous years, according to the reports published earlier.

Conclusion

As of now, traders have been expecting another breakdown of the amount approximately from $10,110 to 10,200. The Tesla stock market has also dropped in pre-market trading significantly. The rate is 2.55%, and again it has coincided with the prices of Bitcoin. This is a pretty crucial resistance that has great significance. There have been constant reports and analytics that are closely recording the changes and the numbers. This is excellent for better insight regarding the nature of the graph. And this will result in better prediction of the shares of such markets regarding the upcoming years.  However queer it might seem, but they are coinciding certainly for the right reasons here!

Brazil May Have A Cbdc In 2 Years, Central Bank President Says

Brazil May Have A Cbdc In 2 Years, Central Bank President Says

Roberto Campos Neto, who is the current President of the Central Bank in Brazil, Banco Central, announced that the people of the country could soon expect the formation of central bank digital currency or CBDC set up in the country within three years. According to a news report released in September 2020 by the news agency Correio Braziliense, Brazil could see the CBDC set up by 2022. In a statement, the President of the Banco Central announced that the Central Bank has started to take important measures and implement innovative technology to modernize the country’s financial system. All of these measures would make the formation of CBDC inevitable. He announced the introduction of the PIX instant payment system, introducing open banking, in addition to many other measures.

From November, the Central Bank will launch the quick individual to individual and inter-business transactions that will take just ten seconds or even less. Different options that will be made available include a mobile phone, internet banking, or ATM. The proposed open banking system will make the banks’ swapping of information easy, allowing customers to change their banks from one to another with minimum paperwork. Campos Neto further stated that CBDC would be able to distinguish itself from other cryptocurrencies such as Bitcoin as it will be backed by a trusted national monetary regulator.

Banco Central is already working on the fundamentals of CBDC. The bank has created a team of experienced professionals to ass the different areas of digital payment systems and how it can fit into the country’s existing national payment systems. The team is also given the job to assess how the new digital currency will impact its economy. The team is expected to present its findings within a year.

The country is already working on updating the banking infrastructure besides implementing technology that will allow the processing of interbank payments instantly and for free. The Brazilian new system called PIX should be up and running by November 2020. This would lead to competition with other distributed ledger technologies such as Ripple’s ODL that were looking to establish themselves in the country. PIX will bring about a major digital evolution in the banking industry and boost the economy.

Campos Neto also added that introducing digital currency in Brazil would make their instant payment system more efficient. The open system will lead to creating competition and that, too, with a trusted currency that is credible, convertible, and globally accepted. This would easily pave the way for a digital currency that would be introduced by 2022.