We are often told that the verification of bitcoin transactions eats a lot of energy. The largely inaccurate comparison to a small country, the size of Ireland or Denmark, is evoked thanks to numerous clickbait headlines. What mainstream media fails to explain, however, is that bitcoin mining is actually helping electricity producers prevent energy waste. Hydropower plants, for example, can generate and sell much more electricity during rainy seasons in some regions or when snow melts in others. Wastage can be mitigated through a symbiosis with bitcoin farms, at no additional cost for the environment.
Warren Buffett Crypto Power Lunch Adds Circle CEO Jeremy Allaire
The highly-anticipated Crypto Power Lunch between billionaire bitcoin skeptic Warren Buffett and Tron CEO Justin Sun has expanded to include Circle CEO Jeremy Allaire. Sun invited Allaire to his July 25 lunch on Twitter, and Allaire cheerfully accepted. “Hi Justin, I would be honored to join you and Warren Buffett next week to discuss crypto!! […]
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Bitcoin’s Energy Use Isn’t Crazy, Rivals Switzerland’s Power Consumption
The Cambridge Centre for Alternative Finance has released an index of sorts devoted to macro data about Bitcoin, all of it relating to electricity consumption. Tree Huggers Take Solace Historically, one great objection to Bitcoin has been its perceived large-scale energy consumption. Some question the logic of building out an entirely new system when the […]
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Roll Wants to Take Power From YouTube With Cryptos for Content Creators
“Social money” startup Roll raised a $ 1.7 million seed round from BitMEX CEO Arthur Hayes, Gary Vaynerchuk and Techstars.
CoinDesk
John McAfee Trolls Winklevii on Bitcoin, Says Cameron Is ‘True Power’
By CCN Markets: You might think that Tyler Winklevoss has gotten ahead of himself by predicting the bitcoin price could cross $ 15,000 if it surpasses the $ 10,000 level. That is unless your name is John McAfee, in which case that forecast is absurdly low. McAfee is doubling down on his bullish price prediction, saying that BTC $ 100,000 will open the floodgates for the cryptocurrency to power higher to $ 1 million. Unfortunately for the Winklevii, that wasn’t the end of the trolling. McAfee took it a step further by tweeting an image of “Bitcoin Billionaires” with a personal message from the
Stock Market Is Booming but UBS Strategist Warns ‘Fed Put’ Lost Power
By CCN Markets: The stock market is close to record-setting highs, yet one Wall Street strategist says don’t believe the Fed hype. UBS Group’s head of equity strategy, Francois Trahan, has a warning for investors – the Fed doesn’t pack quite the same punch as it used to. According to Trahan cited in CNBC, the “Fed Put” on the stock market, which Haas School of Business at the University of California, Berkeley describes as “strong accommodation following poor stock returns,” is no longer a reliable gauge. “When it comes to U.S. stocks, the Fed put is dead. In the past
Zuckerberg Pal Doubles Down on Facebook CEO Having Too Much Power
By CCN Markets: Give Facebook Co-Founder Chris Hughes a lot of credit. He not only has made comments that could make him less wealthy, but he’s also doubled down on them. Specifically, Chris Hughes believes that his “friend” Mark Zuckerberg has too much control over speech. Zuckerberg Is a Scary Master of the Universe In a May op-ed in the New York Times, Chris Hughes wrote: “The most problematic aspect of Facebook’s power is Mark’s unilateral control over speech. There is no precedent for his ability to monitor, organize and even censor the conversations of two billion people.” Chris Hughes is
Litecoin’s Charlie Lee Joins Warren Buffett’s Crypto Power Lunch with Justin Sun
By CCN Markets: Tron CEO Justin Sun will be accompanied by Litecoin creator Charlie Lee on his $ 4.6 million crypto power lunch with billionaire bitcoin skeptic Warren Buffett. Sun revealed on Twitter that he’s thrilled to invite his “good friend Charlie” as his first guest at his July 25 lunch with Buffett. Sun says he’ll announce other friends who will join him soon. Crypto Twitter Approves of Justin’s Lunch Companion Sun was barraged with kudos on his selection. Many agree that the affable Lee is an excellent choice of crypto ambassador on this epic lunch. Twitter user “Tommy Mustache” reacted
Can Bitcoin’s Lightning Network Power Payments in a Japanese Bar?
A bar in Japan is teaming up with a locally-based lightning startup to let customers pay using the experimental payments network.
CoinDesk
Bitcoin Miner Recounts Struggle to Obtain Cheap Iranian Power
Over the last six months, reports of Chinese miners crossing the border to obtain cheap electricity from regions like Vietnam, Cambodia, Thailand, and Iran have abounded. According to a recent interview, Chinese miners have found extremely affordable electric prices ($ 0.006 per kilowatt-hour) in the oil-rich nation of Iran. However, managing to get thousands of machines over the Iranian border has proven to be far more difficult.
Also read: Last Will Platform Allows Your Loved Ones to Inherit Your BCH
Chinese Bitcoin Miners Suffer in Iran Despite Cheap Power
This article was originally published by 8btc and written by Lylian Teng.
Many Chinese cryptominers have migrated to places with cheap electricity and favorable policies as a result of the escalated government crackdown on cryptocurrency and its production process.
With the rapid downfall of bitcoin prices in late 2018 and increasing electricity bills, Chinese mining investors are looking for alternative places to sustain their businesses. The tightened regulations on cryptomining in the country, for the risk of crypto speculation and concerns about energy usage, urge them to speed up their relocation.
Understanding Bitcoin, the Demos: How to Become a Bitcoin Power User
The Understanding Bitcoin conference held in Malta from April 5 to April 7, 2019, was all about turning regular Bitcoin users into power users.
Bitcoin hardware and software is often more configurable than people realize (or they do realize this but are unable to take advantage of it). Spread throughout the conference were 18 demos by leading Bitcoin developers and experts illustrating how to make the most out of available Bitcoin tools.
For your convenience, here is an overview of all of the demos:
Bloq Labs Reveals Software Suite That Aims to Increase Hash Power by Double Digits
The blockchain organization Bloq Labs has introduced a beta version of a new software suite for cryptocurrency miners called Titan. Bloq co-founder Jeff Garzik announced the project at the recent Binance conference in Singapore and claims the protocol can maximize a mining machine’s hashrate by double digits with thoughtful configuration and dynamic adjustment.
Also read: An In-Depth Look at the Trezor Model T Hardware Wallet
BetterHash Protocol Lets Pool Miners Regain Control Over Their Hash Power
One problem that concerns many is the centralization of mining within the Bitcoin ecosystem. Fortunately, there are talented developers working to solve this problem and Matt Corallo, full-time Bitcoin developer at Chaincode Labs, is one of them. His BetterHash Mining Protocol is intended to significantly decrease the problems associated with mining pool centralization.
What Are Mining Pools?
First, it is important to understand there are different types of miners on the network. For the purpose of this article, we’ll refer to a “solo miner” as someone who mines alone, a “hasher” is someone who mines in a mining pool, and a “pool operator” controls the mining pool.
Giga Watt: Bitcoin Mining Company Finally Shutting Down Amid Unpaid Power Bills and Bankruptcy Hearings: Token To Be Worthless
A user contacted CCN with information related to Giga Watt, a Bitcoin mining company finally going out of business after declaring bankruptcy in November 2018. The firm lasted a little over a year, launching with an ICO model in September 2017. The business model of Giga Watt was slightly different than other hosted mining solutions.
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Australia: Crypto Startup Power Ledger Takes Flak for Rewarding Rogue Bounty Hunters
An Australian blockchain-based peer-to-peer electricity trading startup is on the receiving end of criticism for rewarding bounty hunters who used unscrupulous means to drive interest in its crypto token. According to the Financial Review, Power Ledger has been criticized for allocating free tokens to bounty hunters who made exaggerated or false claims regarding the startup
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Exclusive: Aelf’s Zhuling Chen on The Power of Multi-Blockchain Architecture
Aelf is a project which could ultimately change the way we view blockchain infrastructure. CCN spoke to Zhuling Chen, MIT graduate and co-founder of Aelf, who sincerely wants to create a developer and consumer friendly blockchain operating system with high reliability. A privately offered ICO has funded its development thus far in order to remain
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Abkhazia Eyes Crypto Mining Regulations amid Fears of Winter Power Shortages
A state-run energy company in Abkhazia is calling for the regulation of cryptocurrency mining activities to avoid the partially recognized republic being plunged into darkness this winter. According to Eurasianet, the cryptocurrency mining farms in Abkhazia, which are mostly located in abandoned Soviet factories, are guzzling a significant amount of electricity. As a result, it
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How Givv Is Using AI, Blockchain and the Power of 1.5 Billion Computers to Save the World
This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned
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BitDeer Partners with BTC.com and AntPool to Provide World-Class Computing Power Sharing Service
This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned
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