Author: NBTC
Competition for blockspace is and always will be one of the core tensions that exist between different users of the Bitcoin protocol. At the end of the day there are only two restrictions on how it will be used, the technical and consensus layer of what is actually possible or allowed by the protocol, and the economic layer of what people are willing to pay to make use of blockspace to different ends. This is a fundamental and inescapable reality of how the network works. It is a purely market driven distributed mechanism for deciding how Bitcoin is used. Concerning…
In recent speeches, Fed officials Thomas Barkin and Austan Goolsbee highlighted the challenges and uncertainties facing the U.S. economy and offered their views on the current economic landscape. Richmond Fed President Thomas Barkin offered a nuanced view of the labor market, highlighting a significant shift in hiring practices. “What I’m hearing from people on the ground in the labor market is that people are cutting back on hiring but not cutting jobs,” Barkin said. He described the current environment as a “no hiring, no layoffs” situation, with job growth slowing but continuing positively. Barkin noted that there is a greater…
Today, enjoy the Lightspeed newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Lightspeed newsletter. Howdy! It’s 7/11, which means free slurpees at 7-Eleven for anyone brave enough to venture out into the heat. That certainly won’t be me, as a northeastern weakling who wilts in anything above 85 degrees. Anyways: Helium eyes the energy sector Last week, the Helium Foundation said in a somewhat-cryptic blog post that it would be unveiling new proposals for “subnetworks” that go “beyond wireless.” Guesses as to what these subnetworks would be flooded in, ranging from proof-of-location to…
Bitcoin detractor Peter Schiff has predicted that the price of the leading cryptocurrency by market capitalization will continue to fall over the next couple of years. “You can keep looking at that chart for the next several years while the price of Bitcoin continues to fall and the price of gold continues to rise,” Schiff wrote on the X social media platform. Schiff has noted that Bitcoin is now down 14% since hitting its all-time high of $73,737 on March 14. For comparison, gold has surged by 10% over the same period of time. Those who sold their gold ETFs…
Ionic Digital, the bitcoin miner that bought bankrupt crypto lender Celsius’ mining assets, has delayed a plan to go public after losing its CEO and auditor. Former CEO Matt Prusak told the company in July he won’t stay on after the end of his employment term on Aug. 14, the miner said in a statement Thursday. Ionic has started searching for a new CEO and named its recently hired CFO, John Penver, the interim boss. Penver was hired in July to shepherd the company’s plan to go public. Ionic said that despite the leadership change, it still intends to do…
Mainstream crypto-to-fiat operations provider Transak scored a strategic collaboration with TOWER, a GameFi ecosystem under Animoca Brands’ umbrella. With the Transak gateway available, Play-to-Earn enthusiasts will be able to purchase TOWER tokens and join various virtual activities. Transak debuts on TOWER as its first fiat on-ramp According to a joint official statement by the two teams, Transak, a crypto-to-fiat payments processor, is now integrated with The TOWER Ecosystem by Animoca Brands. Transak instruments are set to allow every GameFi enthusiast to use fiat payment methods for TOWER token purchasing. The philosophy behind the TOWER token is to merge the traditional…
Michael Dell, CEO at multi-billion dollar tech firm Dell Technologies, just dipped his toes into the Bitcoin waters, and this recent jest did make a splash. It all started when Dell tweeted “Scarcity creates value.” Enter Michael Saylor, MicroStrategy’s possibly Bitcoin-obsessed executive chairman, who couldn’t resist chiming in with a hashtagged reply saying “Bitcoin is Digital Scarcity.” Dell, apparently intrigued, hit that retweet button faster than you can say “blockchain.” The real kicker here is this: Dell later shared a meme of Sesame Street’s Cookie Monster, probably generated by AI or photoshopped (is that term still used?) to show the…
Nvidia, the leading chip maker that has been at the forefront of artificial intelligence, saw its stock price drop significantly after soaring to a record high earlier this year. The company that once boasted a $2 trillion market capitalization and even exceeded $3 trillion now faces high market volatility. Nvidia’s market value has since dropped significantly, with a decline of $900 billion. Nvidia’s share price topped $135.58 on June 18 after a 10-for-1 stock split and impressive financial results. Nvidia stock price experiences significant volatility and pullback The company’s revenue for the first quarter of fiscal year 2025 was $26…
Filecoin has announced its partnership with Theoriq with the vision of being a leader in the Web3 infrastructure space. By integrating DePIN and AI, Filecoin benefits from a more secure and intelligent data management ecosystem. In the past few months, Filecoin has made significant strides to cement itself as a key player in the Web 3 Space. Filecoin has reported several partnerships aimed at integrating artificial intelligence into its decentralized data storage network. In a new development, the decentralized data storage network, Filecoin, has announced its partnership with Theoriq, a communication platform. This significant integration aims at developing smart AI…
Bitcoin (BTC) miners have offloaded over 30,000 BTC in June so far, roughly equivalent to $2 billion, according to IntoTheBlock’s “On-chain Insights” newsletter. This is the fastest pace of miners’ sell-off in over one year. The halving is believed to be a significant factor in this trend, as it has led to reduced profit margins for miners and prompted them to increase their sales. Additionally, a noticeable decrease in Bitcoin’s hash rate was witnessed, dropping by about 15% over the last month, highlighted the analysts at IntoTheBlock Image: IntoTheBlock In a parallel development, the German government has begun to liquidate…