2 key Ethereum price metrics prove pro traders are behind ETH’s new highs

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Beijing Is Collecting Data From Local Datacenters Involved in Cryptocurrency Mining Activities

Beijing Is Collecting Data From Local Datacenters Involved in Cryptocurrency Mining Activities

Authorities in Beijing have been conducting checks on cryptocurrency mining datacenters to assess and understand its energy consumption and thus the impact on the electric infrastructure. Although it was reported as a rumor by international media outlets, Chinese state media confirmed it.

Authorities Sent an ‘Emergency Note’ to Three Biggest Telecom Operators

As first reported by Reuters, the Beijing Municipal Bureau of Economy and Information Technology was the entity that ordered the checks on the city’s data centers.

In the first instance, they wanted to verify if these companies are involved in bitcoin (BTC) and other cryptocurrency mining businesses by sending an “Emergency Notice Concerning the Data Center Involving Bitcoin and Other Cryptocurrency Mining Businesses in Our City’s Data Centers.”

According to an unnamed source cited by Reuters, the notice also targeted three of the biggest telecommunications operators in China.

The measure took place on Tuesday, and then state media Pengpai confirmed the news on Thursday. Furthermore, the bureau wants to get reports on the amount of power consumed and share by crypto asset mining.

Although the information specifies that the notice was issued in Beijing, there is no official confirmation on whether the checks are being conducted across the country or not.

Was China’s Carbon Neutral Stance One of the Reasons Behind the Checks?

Also, there are not more details on the reasons that drove Beijing authorities to conduct such checks.

However, Reuters suggests the measure could come in the wake of the latest shut down of digital currency mining projects in the Chinese region of Inner Mongolia, as the country seeks to improve energy efficiency.

Moreover, as Bitcoin.com reported recently, China’s carbon-neutral stance adds weight to bitcoin miners’ backs. Following a recent hashrate drop in the province of Xinjiang, a regional report notes that people leveraging electricity in Sichuan may see an electrical cost increase.

In fact, a local financial columnist said that Sichuan electricity powered by carbon materials will increase by 150% this year adding to the demand for renewable hydro power.

What are your thoughts on the measure taken by the Beijing government? Let us know in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Premium crypto.ro domain – launched as a media platform in Romania

An important education platform has been born in Eastern Europe,  a new online resource that invites Romania to document daily on the digital currency Bitcoin, as well as other cryptocurrencies.

crypto.ro was launched in order to provide analysis, current news, legislative information about the new electronic payment system and about decentralized digital currencies that can be used from anywhere in the world.

Readers of the platform can already benefit from the documented technical analysis on the bidding area, Bitcoin consolidation and Ethereum performance.

Coins of this type appeared in 2009, when Satoshi Nakamoto created Bitcoin, now revolutionizing the financial industry.

It is worth mentioning that they circulate entirely only in the online environment, which is why they are also called virtual money, and currently, they are not accepted by any government as a national currency. What should be mentioned about Bitcoin at this time is that it can be sent from one user to another without the need for an intermediary (such as banks).

Transactions made through cryptocurrencies are secured, and their history is saved in a ledger, from where they can no longer be changed once they have been registered.

All this information, explained in detail, plus many others updates can be found in the News category. Here, readers will discover weekly publications and articles on the latest developments in the peer-to-peer electronic money market, the growth of this type of currency, but also about the possible entry of cryptocurrencies in the reserves of central banks.

The section called Legislation will include information on updated laws in Romania on how to legally buy and trade cryptocurrencies, so that each user can safely explore this new emerging market.

The Education section will serve both businesses and regular investors who need to understand what digital currencies are and how they can be used.

Digital payments promise to be more and more widespread in the future, and it is important that information about cryptocurrencies reaches as many people as possible and is available in most of the regions.

According to Agerpres.ro, Sweden is one of the first countries in the world to consider introducing a digital currency. The Central Bank of Sweden is already conducting a pilot project in partnership with Accenture Plc to introduce an electronic crown based on the same blockchain technology as that used by other digital currencies, such as Bitcoin.

The future of online transactions looks promising.

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Binance Smart Chain Partner Receives Funds From 16 Institutions

Built on top of Binance Smart Chain, CryptoTycoon (CTT) is a monopoly game based on Binance Coin (BNB), Binance USDC (BUSD), and stablecoin Tether (USDT). With it, users can play to construct in-game buildings by rolling the dice. The game operates with a deflationary and dividend model, according to an official post.

The team behind the game recently announced the successful completion of their seed round of fundraising. Per their announcement, they have received support from 16 institutions from “different regions and backgrounds”.

In total, Binance Smart Chain’s partner was supported by HappyBlock, CryptoDiffer, R8 Capital, A195 Capital, 4SV, AKG Venture, PrimeBlock Ventures, Amplio Capital (BitMart Labs), T3E (MW partners), Infinity Labs, CatcherVC, BenMo Labs, BEST, Horizon Capital, Ternary Capital, and 7Star Capital. The team added:

In addition, we have recently received supports from many BSC community building participants, who provided a lot of valuable suggestions to CryptoTycoon and participated in CryptoTycoon’s seed round fundraising in a private form.

Binance Smart Chain’s Partner And Its Roadmap

The project will focus on “market building and user experience” for their next phase of development. They are currently taking feedback from the community. So far, they have divided their roadmap into two stages an initial stage and an early stage.

The former has been composed of game design, smart contract coding, legitimate subject and legal matters, participation from their American and European market partners, smart contract audit, official website (v0.1) launch, and other items related to community operations and media. Most of the first items have already been completed.

In their early stage, they will have a close beta of their game, a CTT release, an official website launch on their v0.5 launch, liquidity provider staking mining, game interactive contract audit, planning for their second iteration of the game, and much more.

CryptoTycoon’s native token CTT will have a burned mechanism, as two of the most important assets in the Binance Smart Chain ecosystem, BNB, and PancakeSwap’s CAKE.

BNB trades at $619 with a 5.7% profit in the daily chart. In the weekly and monthly chart, BNB has a 20.4% and 99.9% profit, respectively.

Binance Smart Chain BNB BNBUSDT
BNB with moderate gains in the daily chart. Source: BNBUSDT Tradingview

Staking giant Lido looks to bring services to Solana

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Bitcoin bulls attack $57,000 and altcoins rally as April comes to a close

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Crypto Regulation: US House of Representatives Passes Crypto Task Force Bill

Crypto Regulation: US House of Representatives Passes Crypto Task Force Bill

 The U.S. House of Representatives passed H.R. 1602, the “Eliminate Barriers to Innovation Act of 2021,” last week, sending it to the Senate. The senate subsequently referred it to the Senate Banking Committee. The Act has now been officially passed and is among the first bills of its kind.

U.S. authorities are searching for methods to structure and adapt their legal rules to the rapidly altering world of cryptocurrencies, and the Act is just but the start. It aims to clarify the difficult regulatory panorama which hinders the occurrence of cryptocurrency companies in the country.

Crypto Clarity Struggles

In recent years, world regulators have been discussing what form of legal structure should be developed with a more aggressive increase in the cryptocurrency industry. However, some countries have become more open-minded, and others like the U.S., according to Ripple’s Brad Garlinghouse, have fallen behind.

Several other proposals were previously introduced to determine how the U.S. legislation would or should handle cryptocurrencies, but little progress has been made. Amy Davine  Kim, chief policy officer at the Chamber of Digital Commerce, stated that this is the first law to discuss regulatory transparency connected with digital assets and digital asset markets and two-way terms.

Securities or Commodities?

For years, the SEC and CFTC have tried to determine the cryptocurrencies that are perceived as commodities and securities. The problem is at the heart of the SEC’s XRP token case against Ripple. Ripple argues that XRP is a product and, therefore, beyond the SEC’s jurisdiction, although the regulator says that Ripple ran an unsuccessful offer of securities.  Hopefully, the Task Force will clarify these concerns.

According to the Legal Text, we should expect a report from the working group in a year’s time. The report will entail various recommendations on market creation and protection, the protection of entities operating in financial cryptocurrencies, cybersecurity issues, and anti-money laundering measures and the financing of terrorist activities under the Bank Secrecy Act.

Crypto Users have Nothing to Fear

The initiative sheds light on the issue that the crypto ecosystem does not have legal certainty. According to Republican Senator Cynthia Lummis, the bill reflects a shift of vision in the United States government. Lummis further claimed that traders and enthusiasts had nothing to do with it because there is no obvious connection to the interest in regulating space in preventing its development.

Continuing, she stated that the country’s use or trade of cryptocurrencies will not be stopped or prevented. Lummis clarified that regulators do not generally have a full grasp of the crypto-verse, so they need expert assistance to understand the functioning and the proper regulation of these emerging technologies.

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Peer-to-Peer Internet ThreeFold Goes Multichain to Accelerate Token Accessibility

Peer-to-Peer Internet ThreeFold Goes Multichain to Accelerate Token Accessibility

PRESS RELEASE. Peer-to-peer internet ThreeFold integrates with several popular blockchain ecosystems in an effort to increase adoption for the world’s largest such network

29th April 2021, Dubai, United Arab Emirates – ThreeFold plans to integrate its peer-to-peer internet platform with three of the leading blockchain ecosystems in the decentralized finance (DeFi) space; Binance Smart Chain (BSC), Ethereum, and Huobi’s ECO Chain.

ThreeFold is set to integrate BSC in the next couple of weeks, with Ethereum and Huobi’s ECO Chain following shortly later on in Q2. These integrations will provide the ThreeFold ecosystem access to a wide array of DeFi applications. In turn, this will allow ThreeFold to be more accessible to the DeFi world and provide ThreeFold Farmers and users with more platforms to exchange TFT.

ThreeFold’s bold move comes while the wider cryptocurrency market is booming. The total value of all cryptocurrency-related or blockchain-based projects has surpassed $2.1 trillion in recent weeks, as market leaders, such as Bitcoin and Ethereum, set new all-time highs. Accordingly, interest in blockchain technology is soaring as the number of active projects in the space nears 9,000.

Moreover, in an environment in which internet use for all aspects of life is soaring owing to COVID-19 restrictions, ThreeFold’s main value proposition – a truly peer-to-peer internet platform – is gaining traction. ThreeFold sees the sustainability of internet services in the long-run and its decentralization as inseparable.

Democratizing the Internet

But why is this needed? The internet today is hosted by a small group of well-resourced companies that are responsible for the maintenance of data centres which provide the server and storage space for the vast quantity of content on the internet. In addition, these same companies are finding a way to monopolize the network connections that allow data to flow around the globe.

As a result, decisions made by these companies have the power to entirely change the landscape of the internet unilaterally, without contest. Given the fact that the internet is now integral to much of the world’s industry, as well as many ways of life, the disproportionate power that these companies wield make them the de facto governors of the future of humanity’s development.

Just as Satoshi Nakamoto envisioned the democratization of the financial system through decentralization, ThreeFold is on a similar quest to democratize the internet with a unique combination of autonomous and blockchain technology. The benefits would be clear. More internet users would benefit from a neutral peer-to-peer platform on which to store their data and run their applications privately and securely.. Moreover, decentralization removes the internet’s singular potential points of failure which could seriously disrupt the global Internet and Cloud industry.

A Multichain Future

ThreeFold’s upcoming integration with BSC, Ethereum and Huobi’s ECO Chain is a critical part of continuing to grow and cultivate the world’s largest peer-to-peer internet platform. Ethereum is the number one platform for decentralized applications (dApps) in the cryptocurrency and blockchain space as of today.

Accordingly, ThreeFold’s platform will be put on the radar of the vast number of Ethereum users who could quite effortlessly become the much-needed nodes in its vision of a decentralized internet. Furthermore, there is a wealth of decentralized development expertise concentrated in the Ethereum-sphere, as well as in both Binance’s and Huobi’s blockchain ecosystems. In addition to improving compatibility with these platforms, ThreeFold will be able to tap into these development skills, inviting experienced dApp developers to build their applications on top of the ThreeFold Grid.

Comparatively, ThreeFold’s ambitious integration plans put it far ahead of similar projects in the decentralized internet space, who are traditionally Ethereum-based. However, with the increasing cost of Ethereum-based development and its slower than required scalability updates, ThreeFold’s peer-to-peer Internet will remain affordable, scaleable and simple for developers.

About ThreeFold

ThreeFold is developing a peer-to-peer internet platform that aims to liberalize what it labels as a centralized and unequally distributed internet. Its platform, called the ThreeFold Grid, comprises over +600 servers in 25+ different countries around the world, delivering approximately 80 PB in storage and over 16,000 CPU cores worldwide, making it the largest storage and compute peer-to-peer internet network in the world. See ThreeFold Grid’s statistics in more detail using their explorer here.

Each server runs ThreeFold’s stateless and lightweight open-source operating system, Zero-OS, and is set up and operated by independent individuals and organisations called Farmers. Farmers earn rewards in TFT – the platform’s native token – for their participation. TFT is the currency of the ThreeFold Grid, with each token representing a unit of storage and compute on the platform. Grid users can use these tokens to reserve the storage and compute they need to store, build and share on the platform’s internet network.

ThreeFold’s ultimate vision is to be part of the movement to fully democratize the internet worldwide.

To learn more about how ThreeFold plans to democratize the internet, visit their website here. For more information on TFT and how it fits into ThreeFold’s overall plans, see this page.

Follow ThreeFold on Twitter: https://twitter.com/threefold_io

Read ThreeFold’s documentation on Github: https://github.com/threefoldfoundation

Like ThreeFold’s page on Facebook: https://www.facebook.com/threefold.io

 

Media Contact Details

Contact Name: Amazix Press Team

Contact Email: press@amazix.com

 

THREEFOLD is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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A $1 billion crypto fund could be on its way from Andreessen Horowitz

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Fed Chair Jerome Powell Says Dogecoin and Gamestop Hype Highlights ‘Froth in Equity Markets’

Fed Chair Jerome Powell Says Dogecoin and Gamestop Hype Highlights ‘Froth in Equity Markets’

Federal Reserve Chair, Jerome Powell, discussed a number of topics this week such as inflation and central bank digital currencies (CBDCs) following the multi-day Federal Open Market Committee (FOMC) meetings. The central bank’s lead executive was asked about feverish stocks like Gamestop shares and the crypto asset dogecoin. Powell said that the Federal Reserve aims to provide financial stability but notes there are some things in capital markets that are a bit frothy.

Fed Chair on Inflation: The committee Seeks Inflation Moderately Above 2%

This week the FOMC meetings have shown that the U.S. central bank plans to continue its monetary easing policies until it is satisfied the economic effects of the pandemic are dealt with. The FOMC meetings were also followed by press conferences where the Fed Chair Jerome Powell answered questions from a number of different news agencies. Powell discussed the benchmark interest rate and inflation, while he was also asked about digital currencies and things like Gamestop shares and the recent dogecoin (DOGE) rally.

At first, Powell was inundated with questions about inflation and one reporter stressed that some people believe “the Fed might let things get out of hand with the new policy stance.” The reporter asked the Fed Chair if the central bank will be able to get ahead of inflation before it gets well ahead of the 2% target. Powell noted that since the Fed has been able to maintain an inflation rate below 2% for “some time,” he highlighted that “the committee seeks inflation moderately above 2% for some time.”

Powell further remarked:

[The Fed is] strongly committed to achieving our objectives of maximum employment and price stability.

Despite China’s Lead Creating a Central Bank Digital Currency, Powell Says ‘USD Is Still ‘the World’s Reserve Currency’

The Fed Chair was also asked about the U.S. falling behind countries like China in the race to create a central bank digital currency (CBDC). “We feel an obligation to understand the technology and all of the policy issues very, very well,” Powell said in response to the CBDC questions.

“Central bank digital currencies are now possible, and we’re going to see some of them around the world,” Powell added. “And we need to understand whether that’s something that would be a good thing for the people that we serve. How would it work in our system? And there are some very, very difficult questions to answer, and we are engaged in a serious program to understand both the technology and the policy issues.”

The Federal Reserve’s Chair explained that the dollar is still very powerful in his eyes, and he emphasized that the USD is “the world’s reserve currency.”

“That means that the dollar is used in transactions all around the world, far more than any other currency. And that’s because of our rule of law, our democratic institutions, which are the best in the world, our economy, our industrious people, all the things that make the United States the United States,” Powell said.

Gamestop Shares and Dogecoin

One reporter noted the hype that has surrounded certain markets like dogecoin (DOGE) and Gamestop shares. The journalist said that people are searching for “yield in this market” and he wondered if the Fed felt responsible for the current financial stability in America. “Is there a financial stability concern from the Fed’s perspective at this time?” the reporter asked the Fed Chair. Powell responded and said that the financial stability the Fed provides is quite broad, and the central bank doesn’t jump on a certain issue and then move to the next.

“Financial stability for us is really, we have a broad framework. So we don’t just jump from one thing to another,” Powell replied. “I know many people just look at asset prices and they look at some of the things that are going on in the equity markets, which I think do reflect froth in the equity markets. But really, we try to stick to a framework for financial stability so we can talk about it the same way each time, and so we can be held accountable for it,” the Fed Chair added.

Just as Powell has protected the mega banks by alluding to the financial incumbents’ so-called “strength” in the past, he positioned the Wall Street banks once again as strong financiers this week.

“Leveraging the financial system is not an issue. We have very well capitalized, large banks,” Powell stressed at the press conference.

What do you think about Jerome Powell’s commentary about inflation, CBDCs, and capital markets being frothy? Let us know what you think about this subject in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.