By CCN Markets: Facebook has too much power to engage with a cryptocurrency, a United States senator has warned, days after the social media giant launched Libra. Sherrod Brown, a Democratic senator from Ohio, told Bloomberg TV that the public has increasing concerns around the social network. Facebook is too big and too powerful. I don’t know that people would have said that two or three or five years ago, but the public increasingly believes they’re too big and too powerful, particularly to engage in a risky cryptocurrency. Running a cryptocurrency system out of a Swiss bank is a big
‘Too Early’ for Central Bank Digital Currency: India Shelves Plans for a Crypto Rupee
Plans to issue a state-backed cryptocurrency in India have stalled, months after the country’s central bank gave indications that it was considering the idea. According to The Hindu Business Line, the government is no longer interested in the state-backed digital rupee. Citing a source, the report by the publication indicated that the idea of a
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Bitcoin ‘Too Scammy, Volatile’ for Mainstream Adoption: Analyst Mark Dow
Analyst Mark Dow, the trader who closed his short position after bitcoin fell 80 percent last year, doubts whether Bitcoin will ever attain a broader adoption. Bitcoin-Short Trader Bearish on Future of Crypto Adoption Mark Dow, a former International Monetary Fund (IMF) economist, said in a tweet that the world’s leading digital currency “lacks a credible
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Wasteful? Iceland Farmers Says Bitcoin Mining is ‘Too Good to Be True’
A relatively small cryptocurrency mining operation in Iceland has come up with a simple, yet effective solution cryptocurrency mining’s electricity issues. It uses excessive geothermal energy from farmers’ machines to power up the mining equipment in a win-win situation.
Farmers to the Rescue
A relatively small cryptocurrency mining operation run by Icelandic math teacher Krista Hennesdottir uses a clever solution to stay competitive.
Ms. Hennesdottir has realized that farmers have excess geothermal energy which could be used for cryptocurrency mining. In turn, the mining rigs produce a lot of excess power which could be used for heating. She said: