Wednesday 28 September 2022
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Texas a Bitcoin ‘hot spot’ even as heat waves affect crypto miners

Record-breaking heat waves are being documented across the world as extreme weather is worsening due to climate change. States throughout America are continuing to see temperatures rise above 100 degrees Fahrenheit (38 degrees Celsius), while the United Kingdom recently saw temperatures reach 104 degrees Fahrenheit (40 degrees Celsius). While hot climates may be unusual for many of these regions, Texas — a state notorious for its boiling summers — is experiencing hotter-than-usual temperatures. The Electric Reliability Council of Texas (ERCOT) recently stated that Texas’ power load demand has been breaking records consistently this month. Unsurprisingly, Texas’ continuous heat wave is having a major impact on crypto miners located throughout the Lone Star State. As Cointelegraph recently reported, a number of miners in Texas had to cease operations entirely earlier this month in order to accommodate Texas’ energy grid load. Lee Bratcher, president of the Texas Blockchain Council, to..

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TikTok data policy debacle: Is user’s crypto at risk?

TikTok continues to gather a head of steam, with the popular social media application surpassing one billion users in 2022. While daily users blissfully swipe through the latest videos from their favorite content creators, data security concerns continue to ask questions of the Chinese social media behemoth. The company has faced criticism over the past couple years relating to security concerns over data collection policies despite the popularity and prolific onboarding of users around the world. Cryptocurrency users have also questioned whether critical data like private keys to wallets could be scraped by the alleged data practices of TikTok. United States Federal Communications Commissioner Brendan Carr called for Apple and Google to remove TikTok from their app stores in June 2022, claiming the app “harvests swaths of sensitive data that new reports show are being accessed in Beijing.” Two years prior to this, cyber intelligence firm Check Point Research released a report highlig..

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Bitcoin mining to harness onsite natural gas emissions: Ark Invest

Data from a recent Ark Invest report highlights another utility for Bitcoin (BTC) mining in the realm of sustainability and energy. According to the findings, there is enormous potential to transform methane emissions into energy for Bitcoin mining, which, in turn, will turbocharge solar and wind-generated electricity at onsite wells. Annual gas flaring emissions equal 140 billion cubic meters, along with an additional 125 billion cubic meters in annual methane emissions. Therefore, left untouched, this means 265 billion cubic meters of natural gas emissions are wasted yearly. However, an analysis of the methane needed for the current Bitcoin hashrate stands at only 25 billion. While harnessing the entirety of the emissions is impossible due to the oil industry’s preexisting flaring operations investments, capturing methane is a viable and early solution. Ark Invest’s Sam Korus tweeted that over half of all vented methane occurs onsite at wells. This makes the location a prime spot..

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Official explains why China CBDC should not be as anonymous as cash

China’s central bank digital currency (CBDC) should not be as anonymous as cash, the head of the People’s Bank of China (PBoC) digital currency institute declared. Digital yuan project lead Mu Changchun spoke of China’s CBDC project at the 5th Digital China Construction Summit on Monday, local financial publication Sina Finance reported. Since debuting the digital yuan in 2020, the Chinese central bank has never targeted complete anonymity for the project, Mu said at the event. Instead, PBoC has been working to enable only limited anonymity in compliance with global Anti-Money Laundering (AML) regulations, the official stated. The Chinese authorities should be able to access CBDC data on people suspected of crimes, Mu noted. According to the official, partial anonymity is an important feature of the digital yuan project though, as it guarantees transaction privacy and personal information protection. However, a completely anonymous CBDC would interfere with the prevention of crimes li..

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SEC Philippines to investigate Binance over alleged illegal operations

Philippines’ think tank Infrawatch PH continues efforts to ban Binance in the country by asking more regulators to investigate the cryptocurrency exchange over alleged illegal operations. Infrawatch PH on Monday filed a twelve-page complaint calling on the Philippines’ Securities and Exchange Commission (SEC) to crack down on Binance’s activities in the Philippines. According to the think tank, Binance has been operating in the Philippines for several years without approval by appropriate authorities. Terry Ridon, the convenor for Infrawatch PH, claimed that Binance has no office in Manila and only uses “third-party companies that employ Filipinos for its technical and customer support services.” He also referred to former finance secretary Carlos Dominguez who publicly declared last month that Binance had no records with either the SEC or the Bangko Sentral ng Pilipinas (BSP). “The SEC has served the public well by banning unscrupulous online lending services. It should similarly do t..

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