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The Great Bitcoin Mining Migration

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3d illustration of bitcoin over circuit background with china flag

Beijing told China’s cryptocurrency miners that they have to go. The People’s Republic’s recent crypto ban is not surprising considering the decentral nature of crypto.

Qinhai and Xinjiang are two more provinces that added bitcoin mining to their hit list. 

This follows an especially harrowing announcement on May 21 by Liu He at the 51st meeting of the State Council on Financial Stability and Development Committee. This reads like it’s straight of a George Orwell novel. The document states:

Chinese Vice Premier Liu He attends the 2018 World Artificial Intelligence Conference (WAIC)

It is necessary to comprehensively use a variety of monetary policy tools to maintain reasonable and sufficient liquidity, effectively prevent and defuse financial risks, and promote a virtuous economic and financial cycle.

It continues… “(We must) Adhere to the bottom line thinking, strengthen the comprehensive scanning and early warning of financial risks, promote the reform of small and medium financial institutions, focus on reducing credit risks, strengthen the supervision of platform enterprises’ financial activities, crack down on Bitcoin mining and trading behavior, and resolutely prevent the transmission of individual risks to the social field. It is necessary to maintain the smooth operation of the stock, debt, and foreign exchange markets, severely crack down on illegal securities activities, and severely punish illegal and criminal financial activities. 

Banks, online payment channels, and financial companies cannot offer any crypto-related services to their clients – not even to sell off their assets!  We are already seeing Chinese crypto miners shutting down, and even today the data says that Bitcoin’s hashrate has dropped 8% in the past 24%. The same website can also deliver the truth about the top 100 richest Bitcoin addresses: At this time, 100 wallets own approximately 15.5% of all Bitcoin. This is another reason for the China Crypto Ban… Stifling whales. 

Did China’s Crypto ban have anything to do with their own inhouse national digital currency?


China already beat the US with its Yuan Digital Token


A digital Yuan deployed on a blockchain permitted by the People’s Bank is now live. Contractors are receiving the Chinese Digital token as payments for services in the country. 

Joe Biden had his financial regulatory body known as the IRS deliver an ultimatum…

That all crypto transactions over $10,000 must be reported.

Yet, in a surprising move, the US SEC seems to have left Bitcoin out of its regulatory agenda.  The US seems to be taking a more traditional approach. They cannot turn down such a massive tax revenue opportunity, but they also see the massive social benefit of Cryptocurrency. The varied attitudes between states toward crypto acceptance is one reason why displaced Chinese crypto miners are searching for new lands to call home. 

The great migration of Chinese crypto miners is going to one of the most unlikely places…

Chinese Bitcoin Mining is Moving to Texas

The exodus of Cryptomining from the People’s Republic will spread throughout the world. Still, one of the best and most ideal locations for them to go is like a ‘Garden of Eden for Crypto’ for all the right reasons. While the Chinese flag has five stars, the state where their crypto miners might be going is known for just one.: The Lone Star State.

It couldn’t be more poetic.

Texas is notoriously crypto-friendly. The state has some of the world’s lowest energy prices due to competition. Also, 20% of Texas’s power comes from wind!  

In a relatable move, Elon Musk moved a Tesla (NASDAQ:TSLA) gigafactory to Texas in response to California’s draconian back-to-work measures. This may entwine the influx of new crypto miners his desire to make Bitcoin mining sustainable. 

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SoftBank to Invest $75 Million in Crypto Exchange Bullish

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SoftBank has made enormous investments into the crypto space recently. For example, it has invested $200 million in a Brazilian company Mercado Brazil.

SB Northstar, an investment unit of Japanese corporation SoftBank, has agreed to invest $75 million in Block.one’s cryptocurrency exchange, Bullish. The filing done with the SEC on July 9, 2021, showed that SoftBank will buy $7.5 million units of shares at $10 each.

The Tokyo-based company had previously invested $300 million in a private offering as a sign of commitment. Currently, Bullish has a market valuation of $9 billion and is expected to undergo a SPAC merger with Far Peak Acquisitions. The merger is scheduled to take place before the end of 2021.

After the merger, co-founder of Paypal and former president of the New York Stock Exchange (NYSE) Thomas Farley, will become the CEO of Bullish. Block.one CEO Brendan Blumer, will on the other hand serve as chairman.

Also, SB Northstar LP will purchase 3 million warrants to buy shares of Far Peak when Bullish goes public. The warrants will be got from sponsors of the SPAC, or its core investors below regular cost. This will result in a $1.5 million loss. According to James Cassel, Chairman of Cassel Salpeter & Co., this is done by SPACs to attract high-profile investors.

At the time of writing, Bullish was yet to identify Sb Northstar as one of the buyers in any of its press statements.

While some critics have faulted the decision by the firm to go public so early on, others suggest the move will increase the value of Block.one blockchain. Yet another group led by Sam Bankman-Fried opines that the move will see Bullish become like MicroStrategy for cryptocurrencies.

Bullish and Other Crypto Investments of SoftBank

SoftBank has certainly made enormous investments into the crypto space recently. Earlier in the month, it had invested $200 million in a Brazilian company Mercado Brazil. It had also invested funds in a Brazilian money management firm Hashdex. Again, the bank is reportedly leading the $530 million funding round of the famous sports NFT platform Sorare.

Commenting on Bitcoin recently, Chief Executive Officer of SoftBank, Masayoshi Son had stated that cryptocurrencies can no longer be ignored because of their rising popularity. Son previously held bitcoin but had sold it all in 2018.

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An experienced writer and Fintech enthusiast, passionate about helping people take charge of, scale and secure their finances. Has ample experience creating content across a host of niche. When not writing, he spends his time reading, researching or teaching.



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Vizsla Inu: Charity for Dog Shelters Created With Crypto Transactions

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Place/Date: Budapest, Hungary – July 16th, 2021 at 7:00 pm UTC · 3 min read
Contact: Peter Guelsen,
Source: Vizsla Inu

Hungarian Crypto platform Vizsla Inu achieved an increase of 151.43% in token value with a market cap increase of 144% and is set on a mission to help Dog Shelters. The exchange rate of the Vizsla Inu coin increased 950 times in a month of its launch. Hungarian Vizsla Inu is the first investment and charity-oriented cryptocurrency that has shown incredible performance and popularity among users. By bringing the same on the blockchain technology, this Hungarian crypto platform is creating benefits for the coin holders and organizations that take care of the dogs.

Accessible Crypto For Everyone

The motive of building Vizsla Inu is not just to help charitable organizations for dogs but to create a crypto world that is attainable and understandable for everyone. The purpose is to build a trustworthy platform that interacts with everyone in a transparent manner.

The development team of Vizsla Inu is optimistic about the impact it will create and about the collective impact the project can build across the globe. Their strategic growth decisions and marketing campaigns are targeted to create positive imagery of the platform and help every user become a part of a world where dogs are loved, cared for, and adored.

 $HVI Token

The $HVI token will transact on the platform to help the dog shelters with donations every time the Vizsla coin is traded on the platform. While the users interact with the platform to create more coins, it will benefit the users and the organizations meant for dogs.

The community-driven token will bring better value to the Vizsla holders. The leadership team is also highly passionate and positive about the impact Vizsla coin is destined to create in the world.

They concur that while continuously building on the unlimited potential of the Vizsla coin, the focus will be on creating a transparent and sustainable project.

Planned Marketplaces for Better Connectivity

Three different but interconnected marketplaces are planned to be built under the Vizsla Inu project. The Merchandise, NFT, and Charity Marketplace will have an integrated system for processing payments on all three channels.

Some portion of these proceeds will go towards the charitable missions effectuated by Vizsla Inu and let the community become a part of a better world.

About Vizsla Inu

In a short time after its launch, the Vizsla Inu coin has generated an impressive market cap and got listed on CoinHunt, Poocoin, BSCScan, CoinSniper, and several more platforms. It has seen an increase of 257% in the number of coin holders and has been recognized by the Hungarian media. It is a platform that is driven by an urge to build a community of crypto enthusiasts and access an understandable crypto platform while helping dog shelters with charities generated from the platform-based transactions.



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Polygon, Fireblocks Partner to Provide Secure Interface for Institutions

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The Polygon network supports faster and cheaper transactions. By integrating with this, institutions will have access not just to faster and cheaper means of transactions, but to a secure system only comparable to that of major chains.

Polygon (previously known as Matic) is collaborating with Fireblocks to bring more security to projects, individuals and institutional users on its platform. Fireblocks is known for delivering a secure interface through which digital assets can be issued, stored, or moved. In partnering with the Ethereum-based network, its extensive retinue of security infrastructure and tools will become available to users on the network.

There are a variety of such tools available on Fireblocks. All of them are built to facilitate mainstream cryptocurrency adoption. Some of those that will become available to Polygon users are Fireblocks Asset Transfer Network, MPC Wallet-as-a-Service, and Fireblocks’s Security platform.

The Asset Transfer Network is a secure gateway for buying and selling vast sums of cryptocurrencies between institutions. For the MPC Wallet-as-a-Service, it ensures a safe and efficient means of conducting transactions with multi-owner digital wallets. The Security platform provides secure hardware devices to safeguard highly valued wallets e.g. those used by centralized exchanges, etc.

Implications of the Polygon and Fireblocks Collaboration

The Polygon network supports faster and cheaper transactions. By integrating with this, institutions will have access not just to faster and cheaper means of transactions, but to a secure system only comparable to that of major chains.

Another implication of the integration will be that institutions will be able to access all secondary deployment of protocols, and native DeFi platforms on the Polygon network; there are quite a lot of them because of the high scalability of the Ethereum network.

Chief Executive Officer, and co-Founder of Polygon, Jaimti Kanani said, “I’m very excited to be working with Fireblocks to provide an institution-friendly way of accessing the Polygon Commit Chain.” He noted that Fireblocks’ extensive tools suite boasts capabilities comparable to that of major funds and institutions that interface with the blockchain. Particularly, he pointed out security and regulatory compliance that will be made possible because of Fireblocks.

“Now, accessing Polygon for institutions is as easy as any other major blockchain,” he concluded.

Fireblocks is an enterprise-grade multi-layer security platform that helps customers and investors secure their funds by providing a safe infrastructure that allows moving, storing, and issuing digital assets without cyber attacks, internal collusion, and human error. The franchise enables banks, Fintechs, exchanges, liquidity providers, OTCs and hedge funds to securely manage digital assets across a wide range of products and services.

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An experienced writer and Fintech enthusiast, passionate about helping people take charge of, scale and secure their finances. Has ample experience creating content across a host of niche. When not writing, he spends his time reading, researching or teaching.



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