Opinion

The Mechanicville NY plant operated by Albany Engineering Corp. has shifted to mining Bitcoin, saying that it brings more profit than selling electricity.  The company's operation started in 1897 as a hydroelectric plant, and it now plans to use some of its energy for Bitcoin mining. According to its CEO, Jim Besha, they expect that the new venture will earn them more money than providing electrical power to Nationwide Grid. Bitcoin Mining and Electricity  Bitcoin mining is an energy-intensive activity…

The bulls and bears are embroiled in an ongoing fight for domination of the cryptocurrency market. At the start of the week, top digital assets such as ETH and LTC attempted to make headwinds in what seemed like a bitcoin-led upswing. Instead, however, the crypto space mirrored the persistent weak trend in the traditional markets and shed nearly 7% off its combined market capitalization on July 8. Bitcoin fell 6% on the day as major global equity indices crashed, while…

A narrative has been making rounds that Strike preserves the LN properties because it is built on top of it. The information is, however,  incorrect. To this effect, many Bitcoiners do not know that the wallet is a custodial service. Strike, the largest digital wallet on the Bitcoin Lightning Network welcomed last month's law announcing its adoption by the U.S. currency of Bitcoin as a legal tender for El Salvador as the first sovereign nation in the world. This action…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,471 trillion. Bitcoin is up by more than 7% after a promising week. Ethereum has increased by over 25% over the past seven days. XRP records a nearly 13% increase in value over the week. Binance Coin, Polkadot, and Cardano have registered significant gains this week. The DeFi sector gained almost $6 billion in…

Jeremy Allaire, CEO of Circle, believes that there's plenty of room for bitcoin, volatile cryptos, and more stable versions like stablecoins in this burgeoning asset class. He said that a continued proliferation in the adoption and development of cryptos generally would be observed. He also noted there would be dramatic growth in fiat digital currency models – whether done via private companies, consortium models, or government-led initiatives. Cryptocurrency Price Check Cryptocurrency prices continued to fluctuate on June 30 as it…

Per a June 29 Reuters report, TP ICAP, the world's largest interdealer broker, has partnered with Standard Chartered and Fidelity Investments to launch a crypto-trading platform. The venture, which awaits approval from the U.K.'s Financial Conduct Authority, will integrate connectivity and a post-trade structure into a network of crypto-asset custodians. The TP ICAP-led consortium consists of StanChart's digital custody unit (Zodia), Fidelity Digital Assets, and Amsterdam-based Flow Traders. Zodia and Fidelity will act as crypto asset custodians, while Flow Traders…

A proposal published by Patrick Lodder on GitHub suggests that Dogecoin’s standard transaction costs should be reduced by 100x. The proposal starts by explaining the platform’s historical fee policy introduced in 2014 to eliminate on-chain spam.  The proposal indicates that in 2020, most transactions did not adhere to the default policy. In essence, almost 8% of the transactions employed a free tier model where no fees were paid, while 11% of transactions used a fee calculation model similar to Bitcoin. …

Pioneer crypto exchange Binance faces a minor setback after the Financial Conduct Authority banned its regulated market operations in the UK region. Although the ban falls under the regulated trading crypto activity category, buying and selling crypto assets remains unaffected. The FCA issued an ultimatum warning the exchange to comply with its rules or eradicate all its advertising by Wednesday. Futures, option, and tokenized stock trading are banned, but buying and selling crypto in the region continues as usual. Binance…

Billionaire Ricardo Salinas Pliego in an interview, aired his view on Bitcoin, stating that every investor should have Bitcoin in their portfolio. He added on to say that the dollar is a joke.  The third wealthiest billionaire in Mexico has been studying Bitcoin in-depth and compares it to other assets; he suggested 100 hours of study. He considers Bitcoin as a value store in the future as it offers unique features that guarantee its success. Bitcoin Inclusion in Portfolios Piliego…