Author: NBTC
China’s Bitcoin mining still contributes 15% to the global hashrate despite reports of an official ban. China’s 2021 Bitcoin mining ban was a temporary suspension, not a permanent shutdown. China’s Bitcoin mining operations rely mainly on hydroelectric power, aligning with its carbon neutrality goals. Recent findings reveal that Bitcoin mining in China was never officially banned, contrary to popular belief. According to environmental analyst Daniel Batten, what was perceived as a ban was actually a temporary suspension. 🇨🇳 #Bitcoin Mining Was Never Banned In China, by @DSBattenDespite widespread reports, Bitcoin mining was never banned in China. Publicly available legislation &…
TL;DR Vitalik Buterin advocates for a cryptocurrency governance model that combines plurality and control. Note that the tension between freedom and control also manifests itself in other technologies and policies. Proposes multifactorial approaches to solve complex problems such as voting and universal basic income (UBI). Vitalik Buterin, the creator of Ethereum, has shared his thoughts on the need for robust and plural governance in the cryptocurrency space. For over a decade, the crypto world has been a haven for those seeking to escape the control of powerful entities and maintain their freedom. However, as the crypto ecosystem matures, there is…
On-chain data shows that Bitcoin investors have ended their net profit-taking spree recently, a potential sign that a price reversal could occur soon. Bitcoin Daily Realized Profit Loss Ratio Has Dipped Below 1 Recently As explained by CryptoQuant author Axel Adler Jr in a new post on X, realized losses have started to exceed profits recently. The on-chain metric of interest here is the “Daily Realized Profit Loss Ratio,” which, as its name suggests, tells us about how the Bitcoin investors’ profits compare against the losses. The metric works by going through the transaction history of each coin sold to…
Crypto analyst CrediBULL Crypto has provided deep insights into what to expect from the Ethereum price action going forward. The analyst predict that the second largest crypto token by market cap will still rise to $3,000 but noted that a crash will happen first. Ethereum To Rise To $3,000 Soon Enough In an X (formerly Twitter) post, CrediBULL Crypto shared a chart that showed that Ethereum would rise to $3,000 sometime in September. However, the analyst’s chart also showed that Ethereum will drop below $2,500 before it enjoys this move to the upside. CrediBULL Crypto did well to explain why…
In a speech today, Fed Member Michelle Bowman reiterated her cautious stance on US monetary policy and stated that inflationary risks continue. Bowman, speaking at a bankers’ conference in Alaska, said reacting too quickly to the latest economic data could jeopardize progress made in controlling inflation. Bowman, known as one of the Fed’s more hawkish policymakers, has refrained from endorsing further rate hikes, a position he has previously supported. However, he has given little indication that he is prepared to support an expected rate cut at the Fed’s Sept. 17-18 meeting. “If inflation continues to fall sustainably toward our 2%…
In an exciting development, BounceBit has announced its participation in “The Surge Volt 2” with LineaBuild, utilizing BBTC. This collaboration marks a significant step for BounceBit as it expands its reach and functionality within the crypto ecosystem. Users are encouraged to bridge their BBTC tokens using Protocol_Free’s bridge. This bridging process allows users to earn LXP-L points by adding liquidity to LayerBankFi. The initiative aims to incentivise liquidity provision, thereby enhancing the overall liquidity and usability of the BBTC token across platforms. BounceBit is joining the⚡️The Surge Volt 2 @LineaBuild with $BBTCBridge your $BBTC with @Protocol_Free’s bridge and start earning…
The scalability of financial technologies depends on legal system adaptability. India, with 93 million cryptocurrency owners, ranks first globally. However, India isn’t among the top 20 countries for favourable crypto regulations. Establishing a favourable legal regime is crucial for India’s financial market development, especially with the middle class projected to reach 90% of the population by 2039. Financial market regulation involves state control, which conflicts with the decentralized nature of blockchain technology (DLT). The challenge lies in finding a balance between transaction freedom with state oversight, as currency issuance is a sovereign function. Current uses of blockchain technology in the…
The publicly-listed Bitcoin (BTC) miner from Wall Street (NASDAQ: ARBK) and London Stock Exchange (LSE: ARB), Argo Blockchain, announced today (Wednesday) its interim results for the first half of 2024. The company reported an 18% increase in revenue to $29.3 million compared to the same period last year, achieving growth despite the Bitcoin halving event and a significant decrease in the number of Bitcoin mined. The London-based firm mined 507 Bitcoin during the first six months of 2024, a 46% decrease from the 947 Bitcoin mined in the first half of 2023. This reduction was primarily attributed to the increase…
Tezos, a well-known blockchain project, has just formed a partnership with the Tap & Pay app by Oobit with the aim of simplifying the world of crypto payments. From now on, anyone will be able to use any Visa and Mastercard terminal to make payments using the XTZ resource. The collaboration between the parties also includes the integration of the Tezos chain on Oobit and the launch of the payment app on iOs. Let’s see all the details below. Tezos announces partnership with Oobit: the Tap & Pay app simplifies crypto payments Oobit integrates support for Tezos Network and announces…
Bitcoin (BTC) price closely followed Asia’s Nikkei 225 in a bullish recovery on Tuesday. The flagship coin pumped over 3 percent in the past 24 hours to trade about $60.5k on Tuesday during the early Asian session. As a result, almost the entire crypto industry followed the same path, led by Binance Coin (BNB), Ripple-backed XRP, and Tron (TRX). The notable Bitcoin price recovery in the past 24 hours reduced the fear of further capitulation as more buyers doubled their investments. Bitcoin’s fear and greed index increased from 28 percent to 30 percent, denoting reduced fear of further crypto capitulation.…