Bitcoin

In a recent interview with the Economic Times India, billionaire investor Tim Draper shared his views on the future of the crypto industry and its regulatory journey. Amongst many things, the popular investor believes a decentralized currency offers more perks for society than many fiat currencies. Draper Shares Views on Crypto and Decentralization The interview initially focused mainly on India’s startup industry. Draper revealed his thoughts on the prospects of the space amidst the current economic downturn. However, he later…

Can investing in cryptocurrency boost your dating profile? A recent survey from CryptoVantage suggests that investing in the novel asset class – especially Bitcoin – can boost your attractiveness.  Bitcoin: Popular With the Ladies? According to the survey published on Wednesday, those who invest in crypto are perceived as wealthier, smarter, and more attractive than no-coiners.  Specifically, about 50% of women think crypto investors are more attractive than noninvestors. Meanwhile, 40% of men believe crypto investors are smarter than their…

Years after making the news for accidentally discarding a hard drive holding nearly 7500 BTC, James Howells has a plan to recover his cryptocurrency.                How Howells Lost BTC Worth 176M USD An IT engineer, Howells was one of the first people to come in contact with the world’s largest digital currency, Bitcoin. He mined about 7500 tokens in a week, stored them in a hard drive, and promptly forgot about it. However, sometime later in August 2013, Howells came across the…

Both Ripple co-founder Chris Larsen and Strike CEO Jack Mallers spoke extensively about proof of work (POW) at Bloomberg’s Crypto Summit on Tuesday. While the former believes the consensus mechanism is an existential threat to the planet, the latter sees no way that Bitcoin could function without it. Larsen: POW Has Poor Incentives During his interview, Larsen described Bitcoin mining as a “problem” responsible for contributing to the worldwide climate crisis. Rather than castigating miners themselves, he blames Bitcoin’s programming…

A Q2 2022 survey from the Bitcoin Mining Council (BMC) has estimated that Bitcoin’s energy mix is 59.5% sustainable. That’s the fifth consecutive quarter for which the global Bitcoin mining industry has been recognized as over 50% green. The Report As detailed in a press release on Tuesday, BMC’s data includes voluntary survey results from 45 mining companies across 5 continents. Together, they represent 107.7 exahash (EH) – roughly 50.5% of Bitcoin's total hash rate. ‘Hash rate’ refers to the…

Bitcoin and fintech company NYDIG has partnered with the New York Yankees to provide its Bitcoin Savings Plan to employees. The multi-year partnership cements NYDIG as the organization’s official Bitcoin payroll platform. According to a press release from NYDIG, the Bitcoin Savings Plan (BSP) lets employees convert a portion of their salaries into Bitcoin. Employees will not have to pay any transaction or storage fees for the service. “We’re proud to partner with our hometown team and an iconic sports…

It is unlikely that a crackdown on fossil fuel cars will exclude Bitcoin mining, says ECB Research.    The European Central Bank recently released a new research paper suggesting that Bitcoin could be restricted along with fossil fuel vehicles. The article, posted on Tuesday, refers back to reports that emphasize the high rate of energy consumption in the crypto industry. These reports, as often repeated, indicate that PoW mechanisms like Bitcoin consume enough electricity to conveniently power mid-sized countries like…

The US Consumer Price Index (CPI) increased by 1.3% in June, ramping up speed from May’s 1.0% increase. This brings annual CPI up from 8.6% to 9.1%, breaking yet another 40-year high. As the Bureau of Labor Statistics reported on Wednesday, June experienced a “broad-based” price increase across gasoline, shelter, and food alike. Specifically, the energy index rose by 7.5% – up from 3.9% in May. This alone accounted for half of the all items index increase. Meanwhile, the food…

Peter Wall – CEO of the publicly traded miner Argo Blockchain – recently broke down how Bitcoin mining is supporting the Texas power grid. He argued that miners are a form of “flexible load” that can give their power back to the grid when it’s put under stress. In an interview with Yahoo Finance, the CEO explained why Argo suspended its operation in Texas on Monday. The firm was responding to a call from the Electric Reliability Council of Texas…