The hashrate of the Bitcoin network has been steadily falling since June 14 and after Sichuan miners were told to prepare operation shutdowns. Sichuan is the second-densest province in China where most miners are located, according to data stemming from the University of Cambridge. Bitcoin’s hashrate is now hovering just above 100 exahash per second …
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Economist Steve Hanke Warns Salvadoran Bitcoin Adoption Could ‘Completely Collapse the Economy’
The professor of applied economics at Johns Hopkins University, Steve Hanke, has recently been criticizing bitcoin adoption taking place in El Salvador. Hanke doesn’t think it’s a good idea for the Latin American country to use bitcoin as legal tender and says it could “completely collapse the economy.” Steve Hanke Wants Countries to Adopt Currency …
A deep dive into Polkadot’s tokenomics
Built using the Substrate blockchain framework, Polkadot is forming an ecosystem that both complements existing dApp infrastructure and provides new opportunities recognized by over 400 projects developing smart contracts, oracles, NFTs, DAOs, bridges, privacy, gaming, IoT, DEXs, and other DeFi solutions on the platform. At the heart of this expanding Polkadot ecosystem is the DOT …
Is DeFi Summer bound to repeat itself in 2021?
It all started when the Compound protocol released its own governance token Compound (COMP), thus popularizing the concept of staking. COMP helped usher in the liquidity mining frenzy we see today and, during that time, we also witnessed how Yearn Finance’s native token, YFI, became the first cryptocurrency to ever surpass the price of Bitcoin. …
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Bearish or Bullish? Bitcoin Traders Argue Over Death Cross Outcome
On Saturday, cryptocurrency analysts and traders have been discussing bitcoin’s recent chart patterns and the infamous death cross pattern has been a topical conversation. A number of traders believe when bitcoin’s short-term moving average (MA) dips below the long-term MA, the crypto asset could be bracing for a major sell-off. Meanwhile, others are sure the …
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Tehran Government Bans Iran Blockchain Association
The Ministry of Interior of the Islamic Republic has suspended the Iran Blockchain Association (IBA). The measure comes after the organization allegedly breached government regulations. IBA unites participants in the country’s growing crypto sector who are engaged in blockchain technology development. Iranian Authorities to Review IBA Dealings With Crypto Exchanges The Iranian government has moved …
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Bank of Uganda Launches Regulatory Sandbox Framework — One Fintech Firm Already Approved
The Bank of Uganda (BOU) has announced the launch of a regulatory sandbox that will allow fintech start-ups to test their innovative financial solutions in a controlled environment. Already, one firm, M/S Wave Transfer Limited, has received approval to test its quick response (QR) technology under this sandbox arrangement. BOU Launches Regulatory Sandbox for Fintech …
Revised Bill ‘On Virtual Assets’ Aims to Regulate Ukraine’s Crypto Space This Summer
The Ukrainian parliament has released an updated version of the draft law “On Virtual Assets.” The revised bill requires exchanges to obtain government authorization, disclose their ownership and implement mandatory KYC procedures. The document has been criticized by regulators in Kyiv but the government wants the legislation passed before the parliament’s summer break. Draft Law …
Global Nonprofit Operation Smile Opens Its Doors to Crypto Donations
The global nonprofit Operation Smile has announced the organization is now accepting crypto assets like bitcoin and dogecoin. The nonprofit is a surgical volunteer-based outfit that helps people with cleft conditions improve their lifestyles. Surgical Volunteer-Based Nonprofit Operation Smile Accepts Crypto Donations On July 18, one of the largest surgical volunteer-based nonprofit in the world, …
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Bitmain Reveals New Scrypt Miner — Model Mines DOGE and LTC Four-Times Faster Than Today’s Top Machine
Regional reports from an exposition in Chengdu indicate Bitmain has unveiled a new scrypt ASIC rig for dogecoin, litecoin, digibyte, and verge mining. The Chinese reporter who disclosed the information says the new Bitmain model has a hashrate of around 9,500 megahash per second (MH/s) and overseas prices are reduced by 13%. Bitmain Unveils New …
Cornell Economist Says Bitcoin Has 3 Flaws Driving People to Search for Better Alternatives
Cornell University professor of economics and former head of the IMF’s China division, Eswar Prasad, sees three major flaws in bitcoin. Because of these flaws, the professor says that “bitcoin really has set off something of a search for a better alternative.” Cornell University’s Professor of Economics Outlines Bitcoin’s Flaws Cornell economics professor Eswar Prasad …
Rich Dad Poor Dad’s Robert Kiyosaki Warns of ‘Biggest Crash in World History’ — Expects $24K Bitcoin Price
Robert Kiyosaki, the best-selling author of “Rich Dad Poor Dad,” has predicted the “biggest crash” in world history. He also expects the price of bitcoin to fall to the $24K level. Robert Kiyosaki Foresees Biggest Crash in History Coming Famous author and investor Robert Kiyosaki has predicted that the biggest crash in the history of …
Grayscale Considering 31 Crypto Assets for Investment Products
Grayscale Investments is considering 31 crypto assets to add to its family of investment products. The company, with $32.9 billion in crypto assets under management, currently offers investments in 13 cryptocurrencies. Grayscale Investments announced Friday 13 additional crypto assets it is considering for investment products. These cryptocurrencies add to the initial list of coins the …
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Figuring Out How Much Bitcoin Hashrate Resides in Mainland China Still a Mystery
Over the last few weeks, there have been many reports about crackdowns in China tied to bitcoin mining operations in various provinces. 30-day statistics show the hashrate has been fluctuating wildly, and across the last week it has slid downward roughly 26%. Reports Show Bitcoin Mining Crackdowns in Five Chinese Provinces Despite the slide, the …
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More Than Two Dozen Crypto ATMs to Be Installed in Texas-Based H-E-B Grocery Stores
H-E-B shoppers will soon be able to obtain digital assets at more than two dozen locations in Texas. Coin Cloud, a crypto automated teller machine (ATM) provider, says 29 H-E-B stores will feature kiosks that provide access to more than 30 crypto assets including defi tokens and stablecoins. H-E-B Stores in Texas to Host Coin …