The popular meme crypto and second-largest dog-related digital coin, Shiba Inu (SHIB), has hit a record high after a massive price surge over the weekend. The coin, which was originally conceived as a meme following the popularity of the Elon Musk-backed Dogecoin, peaked at an all-time high of $0.000044 on Sunday, 50% higher than its price on Saturday.
The two billionaires rally the Dogecoin after calling it the “strongest” cryptocurrency in terms of being a medium of exchange. Voicing Their Opinions We all have a reason why we believe one cryptocurrency is better than the other. Some of them are logical and based on numbers and statistics while others tend to be triggered […]
Crypto critics have been making a lot of fuss over the years about the environmental impacts related to the mining of said cryptocurrencies, especially that of the world’s most prominent digital currency, Bitcoin. But new research shows that a large portion of the carbon emissions caused by Bitcoin mining has been reduced quite drastically in the last six months, and it seems the future of cryptocurrency seems a lot “greener” moving forward.
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, […]