Recent reports that Amazon Inc. might start accepting crypto payments have stemmed from a vacant job posting listed by the company last week, seeking a “Digital Currency and Blockchain Product Lead.” The financial publication City AM reported on Monday that according to an “insider”, Amazon is planning to accept crypto payments, specifically Bitcoin, by the end of the year, and is also planning to introduce its own digital coin by next year. But Amazon has denied these allegations.
Bitcoin, the world’s most popular digital currency, is due for its first upgrade in over four years, and miners across the globe have given it the thumbs up. The new “Taproot” upgrade is due to take effect in November this year and will see the currency providing a new level of transactional privacy and efficiency, according to industry experts.
The California-based cybersecurity company NortonLifeLock, has announced last week that it will be adding a cryptocurrency mining function to its already existing Norton 360 antivirus software. Norton Crypto, as it has been named, will be an additional feature added to Norton 360 Antivirus, and will allow its users to mine cryptocurrencies while their computers are idle.
The crypto community was left in shock after the announcement of China’s latest crackdown on cryptocurrencies, which included not only the ban of financial services related to cryptos and the trading of digital currencies but also the mining of said currencies. China has been the global bitcoin mining hub throughout the years and is responsible for around 65% of all bitcoin mining worldwide, even after the recent ban. But the effects of local regulations are pushing large mining operations out of the country. Several big mining firms have ceased operations in China and are looking to move their operations to regions such as Central Asia and North America.
A meeting between Elon Musk, a few top Bitcoin miners, and CEO of Microstrategy Michael Saylor took place over the weekend in hopes of forming a Bitcoin Mining Council. The meeting had focused on forming an organization to initiate reporting standards and ESG goals on Bitcoin mining to promote sustainability. The forming of a Bitcoin Mining Council would “standardize energy reporting, pursue industry ESG goals, and educate and grow the marketplace” according to Saylor.
The online social networking platform Facebook has announced its plans for launching its new Diem digital currency project in early 2021, which will eventually be launched in two sets consisting of a multi-currency coin and the other in the form of stablecoins pegged to the U.S. Dollar and the Euro. The Diem digital currency is intended to revolutionize the fintech space and allow money transfers to be performed as easily and as seamlessly as sharing photos and other media on the web. It has also been said that the transfer fee for Diem will be very cheap, which will surely attract a great number of new users and see the currency experiencing high trade volumes.
Citing concerns about the environmental effects from mining and transactions lead to Elon Musk pulling the plug on crypto. Times Have Changed It wasn’t that long ago when Elon Musk sent out his breaking news tweet about how Tesla was opening up the gates for crypto and would begin accepting Bitcoin as payment. In fact, […]
The self-proclaimed “Dogefather” and CEO of Tesla inc. Elon Musk, had tweeted in April that he will be putting a “literal Dogecoin on the literal moon”. Musk himself has stated that not everything he says should be taken too seriously, but this tweet was clearly no joke. The “DOGE-1 Mission to the Moon” will be launched in the first quarter of 2022, with SpaceX, Musk’s commercial rocket company, accepting Dogecoin as payment to fund the mission.
The host of a popular Youtube channel posts a video committing to a gigantic order of Tesla Model 3’s, if Elon Musk opens up business to another crypto currency. It wasn’t that long ago that Elon Musk announced that Tesla would begin to accept BTC as payment for their popular cars and the crypto world […]
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