Wednesday 28 September 2022
Home / Mining Pools

Mining Pools

US dominates crypto ATMs installations and BTC hash rate worldwide

Despite the myriads of state and federal regulatory hurdles faced by crypto businesses in the region, the United States plays a major role in preserving the Bitcoin (BTC) and crypto ecosystem. With China moving out of the picture following a permaban on crypto, the United States maintains the top position in terms of hash rate contribution and ATM installations worldwide. Prior to cracking down on BTC mining, China historically represented over 50% of the total hash rate up until Feb 2021. With China out of the competition, the U.S. picked up the slack to become the highest BTC hash rate contributor — representing 37.84% of the total mining power by Jan 2022. Distribution of Bitcoin mining hash rate from September 2019 to January 2022, by country. Source: StatistaAs shown above, Chinese miners resumed operations in September 2021. However, the miners in the U.S. continued to dominate the space while increasing their hash rate contribution month-over-month. Crypto ATM distribution by ..

Read More »

Crypto, like railways, Part 2: Blockchain as the new internet planner

In my latest article “Crypto, like railways, is among the world’s top innovations of the millennium,” I compare the blockchain revolution to the railway boom. If we apply this analogy further, what’s going to happen next? Stuart Hylton in his book What the Railways Did for Us: The Making of Modern Britain cites this quote: “The direct effects of railway building are, after all, considerable enough in themselves to require no exaggeration. They profoundly influenced the internal flows of traffic, the choices of the site and the patterns of land use, the residential densities and development prospects of the central and inner districts of the Victorian city.” When one examines the development of blockchain technology, one can make a curious observation. First of all, nobody saw it coming: People neglected Bitcoin (BTC) and related applications; blockchain protocols were doomed as unnecessary, while Wall Street predicted the fall of crypto. Laugh or not, Bitcoin has “died” over 400 times..

Read More »

Investors lament potentially lost ‘millions’ on Voyager bankruptcy

Many investors are reeling from Voyager Digital’s recent bankruptcy filing, with some claiming to have either ‘millions’ worth of crypto assets or most of their life savings locked on the crypto exchange. As previously reported, Voyager paused withdrawals at the start of this month amid its liquidity issues as a result of Three Arrows Capital (3AC) defaulting on a $650 million loan from the firm. Despite Alameda supplying the firm with a $500 million loan in June, Voyager went on to file for bankruptcy on Wednesday. In a Saturday article, Fortune spoke to several Voyager users who are reeling from the recent bankruptcy filing. Some put nearly all of their life savings onto the platform, while others are said to have millions hanging in limbo. One user, referred to as Robert for anonymity purposes, stated he put roughly six figures on the platform, representing 70% of his life savings. “Every day, honestly, I cry,” Robert said, adding, “I don’t know what to tell my wife. As partners,..

Read More »

After Terra’s fall to Earth, get ready for the stablecoin era

Stablecoins were supposed to be the boring uncle of the crypto world — safe, sensible and dull. They’re probably not what Satoshi Nakamoto had in mind, but they’re supposed to be a reassuring haven of calm and utility away from the turbulence of pure-play cryptocurrencies. With values pegged to fiat currencies, stablecoins were intended to be useful rather than to offer get-rich-quick schemes. They play an important role in the cryptocurrency ecosystem by providing a safer place to store capital without having to cash out entirely, and allowing assets to be denominated in fiat currencies rather than volatile tokens. However, events in May demonstrated that crypto stability is still elusive. With governments slow to react, Terra’s LUNA token — which has since been renamed Luna Classic (LUNC) — dropped to close to zero in value, wiping out $60 billion along the way. The obvious conclusion would be that the stablecoin experiment has failed. But I believe Terra’s fall to Earth is the precu..

Read More »

VC Roundup: ‘Web5,’ Metaverse sports and Bitcoin monetization startups generate buzz

A lot has happened in the Bitcoin (BTC) and cryptocurrency markets since our last edition of VC Roundup. The monumental collapse of the Terra ecosystem spilled over into other segments of the digital asset market, exposing over-leveraged traders, lending platforms and venture capital funds. In the process, Bitcoin’s price plumbed new lows, falling below the previous cycle’s peak for the first time in its history. Despite macro headwinds inflicting pain on the crypto markets, venture capital firms are still investing in the industry’s most promising startups. The latest edition of VC Roundup highlights funding deals for digital asset infrastructure providers, noncustodial crypto protocols, payment solutions and decentralized identity management companies. Digital asset infrastructure provider closes $53M roundPolySign’s quest to bring institutional-level crypto custody solutions to investors has received backing from several venture capital firms. The firm recently raised $53 million i..

Read More »

Cardano ‘sharks’ scoop up 79.1 million ADA ahead of Vasil hard fork

The decline in Cardano (ADA) price this year has prompted some of its richest investors to accumulate the token. Cardano sharks in buying spreeNotably, addresses holding between 10,000 and 100,000 ADA, also called sharks, have added 79.1 million tokens, $37.7 million as of July 9, to their reserves since June 9, according to data from Santiment. Cardano shark addresses. Source: SantimentMeanwhile, Cardano whales that hold between 100,000 and 1 million ADA have stopped selling. Holding a larger amount of ADA makes sharks and whales powerful enough to determine the token's upcoming trends via increased volatility or decreased liquidity. Additionally, they can force fishes, or investors holding fewer ADA tokens, to copy their trades. The recent buying spree among the Cardano sharks hints that they have been positioning themselves for a sharp price rebound, especially as ADA trades nearly 85% below its September 2021 record high of $3.16. ADA/USD daily price chart. Source: TradingVi..

Read More »

Not all investments lose value equally: A recovery period for digital assets

When investing in financial markets, people often underestimate the possibility that, over a period of time, the investment may lose its value, and it will take time to recover temporary losses. The deeper the loss becomes, the more energy required to recover the losses increases out of proportion. If I invest $100 and lose 10%, I end up with $90 (whether I keep the investment or liquidate it). So, to get back to $100, which returns do I have to make? I have to make 11% because, with a base of $90, if I make 10%, I end up with $99. This effect is amplified if I lose 20% — to get back from $80 to $100, I will have to make 25%. So, the losses are not exactly symmetrical to the gains you must make to recover them. If I find myself having lost 50% of my investment, to get back to $100 from $50, I must double it, so it should be intuitive to the reader that the more the loss is amplified, the more energy required to recover. The bad news is that Bitcoin (BTC) has lost more than 90% of its v..

Read More »

Play-to-Earn vs. Move-to-Earn explained

Play-to-earn (P2E) crypto games are giving users the opportunity to earn in-game assets that can be exchanged for cryptocurrencies. P2E is a new component of the GameFi ecosystem. Normally, users are gaming online while using apps or websites like Minecraft and Roblox. But, the P2E trend takes it all a little bit further.  By using blockchain technology, it’s possible to combine gaming with the benefits of crypto. Traditional gaming allowed participants to relax, enjoy the graphics and spend some time off with friends. From now on, you can enjoy gaming with another important aspect of life: earning money.  It’s essential to play on a blockchain to earn crypto tokens or nonfungible tokens (NFTs). Additionally, you don’t necessarily have to invest in expensive NFTs to earn crypto and be part of the in-game economies and business models.  Related: How will GameFi and P2E blockchain gaming evolve in 2022? Report Axie Infinity, Aavegotchi and The Sandbo..

Read More »

NFTs become physical experiences as brands offer in-store minting

Nonfungible tokens (NFTs) have taken the world by storm over the last year. Digital collectibles that were characterized solely as CryptoKitties in 2017 have since evolved into famous pieces of art, digitized music, high-end fashion for the Metaverse and a way for communities to connect with others across the globe. Even with the current crypto bear market, recent findings from the research firm Security.org found that NFT ownership has doubled over the last year, rising from an estimated 4.6 million people to 9.3 million people. The report also discovered that while the vast majority of Americans are not ready to purchase NFTs, about 16.3 million potential customers are likely to buy nonfungible tokens in the next 12 months. Consumers experience NFTs with IRL mintsGiven the potential of NFTs, it shouldn’t come as a surprise that a handful of retailers and brands are beginning to incorporate nonfungible tokens into their product offerings. While this has been proven by brands bridgin..

Read More »

Bitcoin ‘cheap’ at $20K as BTC price to wallet ratio mimics 2013

Bitcoin (BTC) has not been this good value since it cost $1,130, one analyst argues as BTC offers a “compelling” risk/reward ratio. In a Twitter thread on July 7, Jurrien Timmer, director of global macro at asset manager Fidelity Investments, simply described $20,000 Bitcoin as “cheap.” Timmer: “In other words, Bitcoin is cheap”While fears that crypto markets could suffer further drawdowns this year remain, some believe that current Bitcoin price levels offer the kind of value for money not seen in years. Analyzing the BTC price versus the number of non-zero addresses — wallets with a positive balance — Timmer concluded that BTC/USD is now back at where it was at the peak of the 2013 bull market. At the time, BTC/USD managed to hit around $1,130 before spending several years consolidating thanks to the demise of exchange Mt. Gox. “I use the price per millions of non-zero addresses as an estimate for Bitcoin’s valuation, and the chart below shows that valuation is all the way back to 20..

Read More »