Connect with us

Blockchain

Jack Dorsey Not Having It With Sen. Elizabeth Warren’s Negative Comment On Bitcoin

Iran Government Blames Bitcoin Miners For Power Outages, Bans Crypto Mining For 4 Months

The debate on Bitcoin’s mining energy consumption doesn’t seem to be ending any time soon. Elizabeth Warren, the Massachusetts US senator has joined the conversation, saying that one of the easiest and least disruptive things “we can do” to fight the Climate Crisis is to crack down on “environmentally wasteful” decentralized cryptocurrencies like Bitcoin. She says cryptocurrencies […]

Published

on

Iran Government Blames Bitcoin Miners For Power Outages, Bans Crypto Mining For 4 Months

Advertisement &  & 

The debate on Bitcoin’s mining energy consumption doesn’t seem to be ending any time soon.

Elizabeth Warren, the Massachusetts US senator has joined the conversation, saying that one of the easiest and least disruptive things “we can do” to fight the Climate Crisis is to crack down on “environmentally wasteful” decentralized cryptocurrencies like Bitcoin. She says cryptocurrencies like Bitcoin are “terrible for the environment” regardless of whether they generate any benefits or not, adding that the fact that we are not getting any benefits, “makes it even more scandalous.”

“One Bitcoin transaction, a single Bitcoin purchase, sale or transfer uses the same amount of electricity as the typical US household uses in more than a month,” said the senator.

Warren gave her remarks during a Senate Banking Subcommittee hearing which is exploring the possibility of establishing a central bank digital currency. According to her, a central bank digital currency can solve the growing problem of many people – about 33 million Americans being locked out of traditional banking institutions and the ever-expensive banking systems in the United States. 

She wondered whether the United States should continue to allow “more and more Bitcoin miners to continue to use useless complicated math problem that consumes a larger and larger share of the world’s energy for the next 100 years until the last coin is mined.”

Advertisement &  & 

Twitter CEO Jack Dorsey, has, however, defended Bitcoin saying if Warren and the Congress are serious about shifting power from banks and corporations back to the people globally, and help the 33 million who are unbanked in the country, then the mining “math is critical.”

It is much likely that a centralized digital currency will result in the same banking limitations and excessive banking costs to people as the fiat system.

Bitcoin Mining With Renewable Energy

Riot Blockchain CEO Jason Les has also backed Bitcoin mining, calling it a “noble use” of energy even as the Bitcoin Mining Council started this week. He said the story that needs to be told is that you find low-cost energy everywhere when there is an excessive surplus of it and that Bitcoin miners buy renewable energy from sources that do not have buyers, and this happens everywhere.

“Most Bitcoin miners are using more renewable energy than any other industry on average,” he said. “76% of Bitcoin miners utilize renewable energy in their mix-up. About 40% of global Bitcoin mining is powered strictly by renewable energy.”

According to Les, Bitcoin mining consumes less than a tenth percentage of the world’s energy, and in doing so, it creates an open and free financial system. It is a very noble use of that energy. He said it consumes “a lot less energy than gold mining.” Besides, many establishments are exploring the use of renewable energy. 

The discussion is a growing debate over the amount of energy used in Bitcoin and cryptocurrencies, especially after Elon Musk said that Bitcoin mining is energy destructive

The so-called “solving of complicated math” in mining is done to verify all Bitcoin transactions while securing the network. It involves the use of multiple computers that run the Bitcoin blockchain. These multiple nodes spread around the world have to keep a copy of the blockchain in their computer and connected, to mine Bitcoins. The result is the creation of a Bitcoin while securing the network from hacks, but also facilitating a decentralized economy in which everyone can participate. So many have been tempted to mine the cryptocurrency of late given its surge in price because a miner wins a Bitcoin or a share of it in a pool mining.

   

BTCUSD Charts By TradingView

A Growing Problem Of Unbanked Americans

It should be obvious that the case for a central bank digital currency should be built by comparing it with decentralized cryptocurrencies like Bitcoin. Warren’s comments are also no surprise as the committee already seems to support the establishment of a central digital currency.

Warren is in support of a central bank-backed currency to answer to the growing problem of the “unbanked” and banking fees in the United States while not exacerbating the climate crisis by using an excessive amount of energy.

“Nearly 33 million Americans have been locked out of the traditional banking system,” she said. “More has been gouged with unnecessary fees by the big banks. A central bank digital currency could bring more households into the banking system so everyone has access to the services they need.”

According to Warren, the benefits of decentralized cryptocurrencies do not outwear the costs, especially for countries like the United States where the benefits are largely illusory. She says Congress needed to act otherwise, otherwise, the growing group of people wanting to move to decentralized ledgers will lead to more wasted energy.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://zycrypto.com/jack-dorsey-not-having-it-with-sen-elizabeth-warrens-negative-comment-on-bitcoin/

Blockchain

CryptoHawk Provides Subscribers 2-month Returns of 44.5% on BTC and 22.1% on ETH

Published

on

WEALTHSIMPLE NOW LISTING DIGIMAX STOCK

TORONTO, ON / Plato Data Intelligence / August 2021 / DigiMax Global Inc. (the “Company” or “DigiMax”) (CSE:DIGI)(OTC:DBKSF), a company that provides artificial intelligence (“AI”) and cryptocurrency technology solutions, is pleased to share its performance over the first two months since the revamped Crypto Price Indicator tool was launched June 1, 2021.

In its first month of June, during a period when both Bitcoin and Ethereum dropped by 7% and 15% respectively, DigiMax provided subscribers who followed the indicators positive returns of 27% and 13%.

As of the end of July, even though both Bitcoin and Ethereum enjoyed a strong recovery in the latter part of July, CryptoHawk again “captured the volatility” and helped investors make strong gains when crypto prices went up, just like the gains captured the prior month when crypto prices went down.

For the combined June-July 2021 period, Bitcoin had a net change of +5.1% while Ethereum dropped -3.6% during the period.  CryptoHawk instead provided subscribers returns of +44.9% for Bitcoin and +22.1% for Ethereum.

CryptoHawk is continuing to prove that not only does it help “protect investors from crypto liability,” CryptoHawk actually helps “investors capture volatility for big gains.”

The CryptoHawk results provide a strong foundation to launch the CryptoHawk-based Crypto Fund domiciled in Cayman Island expected to be launched by the end of August 2021 as previously announced.   Pre-marketing of the fund is commencing and the stated goal of achieving $1 billion of Assets Under Management (“AUM”) within 24 months seems realistic at this time.

DigiMax is also pleased to note that WealthSimple has commenced listing DigiMax on their website.  According to Wikipedia, “WealthSimple Inc. is a Canadian online investment management service focused on millennials. The firm was founded in September 2014 by Michael Katchen and is based in Toronto. As of February 19, 2021, the firm holds over C$8.4 billion in assets under management.”

About Calculations

All of the calculations above assume a constant amount is invested for each trade and the returns reported are the sum of the performance of all individual trend indicators sent to subscribers during the period described.  These returns assume the investor is trading long and short based on these trend indicators and the returns do not include commission costs as these vary for each investor.  The rates of return of Bitcoin and Ethereum is calculated based on the change in price from the first day of the period described and the last day, divided by the first day price.

About CryptoHawk

CryptoHawk is an Artificial Intelligence-driven, price-trend prediction tool that can be profitably used by any investor interested in trading Bitcoin or Ethereum.  The tool is different as it uses AI and machine learning to capture profit from the volatility of crypto currencies rather than incur the risk of buy-and-hold investments.  In both up and down markets, CryptoHawk has the potential to deliver subscribers much higher returns when trading.  In sum, CryptoHawk is an AI Solution that protects traders from volatility, while at the same time allowing them to profit from it.

About DigiMax  

DigiMax is a technology company committed to unlocking the potential of disruptive technologies by providing advanced financial, predictive, and cryptocurrency solutions across various verticals. DigiMax is an official IBM Watson partner, and the Company’s engineering team has extensive experience in Machine Learning, Neural Language Processing, AI, Big Data and Cryptocurrency technology. 

To learn more, visit our websites: https://digimaxglobal.com/

https:/cryptohawk.ai

Contact: 

Martti Kangas

Investor Communications

647-521-9261

[email protected]

Chris Carl

President & CEO

416-312-9698

[email protected]

Cautionary Note Regarding Forward-looking Statements

This press release contains “forward-looking statements or information”. Forward-looking statements can be identified by words such as: anticipate, intend, plan, goal, seek, believe, project, estimate, expect, strategy, future, likely, may, should, will and similar references to future periods. Examples of forward-looking statements in this press release include, among others, statements about the Company and Kirobo Inc.’s future plans, expectations and objectives.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. The Company may not actually achieve its plans, projections, or expectations. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including expectations and assumptions concerning the future plans of Kirobo Inc. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the adequacy of our cash flow and earnings, the benefits and uses of our software, the pricing and availability of our software, the availability of future financing and/or credit, and other conditions which may affect our ability to expand the platforms and software described herein, the level of demand and financial performance of the cryptocurrency industry, developments and changes in laws and regulations, including increased regulation of the cryptocurrency industry through legislative action and revised rules and standards applied by the Canadian Securities Administrators, Ontario Securities Commission, and/or other similar regulatory bodies in other jurisdictions, disruptions to our technology network including computer systems, software and cloud data, or other disruptions of our operating systems, structures or equipment, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, consumer sentiment towards the Company’s products and services, failure of counterparties to perform their contractual obligations, government regulations, competition, loss of key employees and consultants, and general economic, market or business conditions, the impact of technology changes on the products and industry, the ability for Kirobo Inc. to complete its business objectives, as well as those risk factors discussed or referred to in disclosure documents filed by the Company with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements.

Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Source : Plato Data Intelligence

Continue Reading

Blockchain

Everything you should know about Coinbase

Published

on

We live in a technologically advanced world where, today, even the currency we use is crypto-safe. Although this word has been around for a while, this might be a new term for some.

If you don’t know about cryptocurrency and wish to understand it better, you can find many informative videos on various online streaming platforms such as YouTube. 

There are many YouTube channels dedicated to the subject of cryptocurrencies, from which one can learn what to keep in mind before investing, and many more related topics. The right Youtube thumbnail on a video will help you identify if it’s the type of crypto content you’re looking for. 

The bigger picture here is that investing in crypto can earn you high returns. To start investing, you will need a cryptocurrency exchange platform, and Coinbase, alongside Kraken, is one of those platforms. 

Here is some key information about Coinbase as a platform. 

Key points to know about Coinbase

  • Coinbase is a crypto exchange platform where you can deal with different currencies. 
  • You can use this platform to convert one currency to another. 
  • It is similar to stock trading applications that many people are already using.

How to get started on Coinbase?

Coinbase is a SaaS based platform for investors to trade cryptocurrencies. This platform is easy to use and set up. If you too want to start trading in crypto, here is how you can set up your account on Coinbase:

  • Download the application from the App store on your smartphone.
  • Install the app and click on the Get Started button.
  • Enter all the required information that the application prompts.
  • Submit all the information and allow the app to do a background check of all the information you have provided. 
  • Once everything looks fine, your account is ready to use. 

How to trade cryptocurrencies on Coinbase?

Once your account is set up on the Coinbase platform, you will have to link your bank account to the platform. After everything has been set up, you can withdraw some money from your account and transfer it to your Coinbase account. This will allow you to use the money to buy currencies of your choice. In this way, you can easily start trading coins on this platform. 

Additionally, you can even sell currency with the help of a single click. Trading on this app is super smooth and easy. Moreover, you can withdraw money from your Coinbase account in the same way that you deposited money into your Coinbase account. 

What are the pros to using Coinbase?

Here are the pros of using Coinbase:

  • You can trade numerous crypto coins whenever you wish to. 
  • The user interface is straightforward and easy to learn.
  • It has a huge range of liquidity.

Conclusion

Like any other kind of trading, it is crucial for you to know and understand the nature of the market. The crypto market is a very volatile market where you need to have complete knowledge and be very sure about your investments. If you wish to learn more, you can find Facebook influencers, Instagrammers and other channels to learn more about analysing these currencies.

Source: Plato Data Intelligence

Continue Reading

Blockchain

The GBA Annual Achievement Awards

Published

on

In April 2019, during the Guatemalan election, the people of Guatemala suspected that voting fraud had occurred. Since additional elections were scheduled for August 2019, citizens wanted assurance that there would be no fraud in the next election. That was the impetus for Fiscal Digital, a Guatemalan citizen volunteer organization, to utilize a public immutable blockchain for their elections. Against overwhelming opposition, the Organizer of Fiscal Digital, Carlos Toriello Herrerias, was successful in implementing a blockchain-based voting solution in Guatemala. Carlos was the winner of last year’s GBA Annual Achievement Award for Courage.

The Government Blockchain Association (GBA) is pleased to announce that the 2021 Annual Achievement Awards will be happening live in Washington DC, (9/30/2021) as part of Government Blockchain Week. Four awards will be presented in the areas of Leadership, Innovation, Social Impact and Courage. Nominations of individuals deploying exceptional blockchain use will come from around the globe. From securing land titling records, to self-sovereign medical records, to immutable and verifiable voting, blockchain is affecting every industry that transfers value. The winners of these awards are truly making a mark in history, and there is still time to nominate your colleague.

Winners will be awarded by MC Robert Levin of Emergingstar Capital, from a stage in Washington DC in front of a distinguished audience. Receiving a GBA Annual Achievement Award is a credential that can be listed on Linked In, resume’, and any other social media as a recognized global achievement. Do not miss this opportunity to promote the exceptional achievers in your circle. Nominate them for the GBA Annual Achievement Awards today.

Annual Achievement Awards nominations are open until August 15. Winners will be announced from stage in Washington DC on September 30th. All uses of blockchain technology are eligible.

Source: Plato Data Intelligence

Continue Reading

Blockchain

Happy birthday Ethereum!

Published

on

Today marks the sixth birthday of the Ethereum network and Ether – the world’s second-largest digital asset.

Ethereum was created by the crypto innovator Vitalik Buterin when the project was officially proposed in a white paper in late 2013.

The following January, a 20-year-old Buterin, headed down to the annual North American Bitcoin conference in Miami, Florida, clutching that white paper.

It’s there he met his Ethereum co-founders – a group of Canadian crypto evangelists who immediately saw the huge potential of Buterin’s idea.

Crammed into a little beach house, they invited Buterin to stay and turn his vision into reality.

Within six months, Vitalik had dropped out of the computer science program at the University of Waterloo, and moved out to Zug, Switzerland (now known as crypto valley) along with the rest of the group-turned-team.

The founding members of the Ethereum network included Gavin Wood (Solidity smart contract language creator), Anthony di Lorio (DeCentral founder), Joseph Lubin (ConsenSys founder), and Charles Hoskinson (Cardano founder).

After the completion of an $18m funding round in 2014, development begun and Ethereum slowly materialised as a viable decentralised network.

However, tensions between members set in and the team begun to unravel.

Charles Hoskinson was the first to go, many others would follow.

Today, only Buterin still works on the project.

After a period of successful testing on July 30, 2015 – the first block of Ethereum was mined and the Ethereum mainnet was launched.

The network has rapidly grown to become one of the most prominent components of DeFi and the crypto industry at large. However, a victim of its own success, gas and transaction fees have begun to slow.

This is why Ethereum is now preparing for an imminent scalability update to Ethereum 2.0.

Watch this space.

More crypto news and information

If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started.

As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice

 

 

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://coinrivet.com/happy-birthday-ethereum/

Continue Reading
Blockchain8 hours ago

CryptoHawk Provides Subscribers 2-month Returns of 44.5% on BTC and 22.1% on ETH

Blockchain18 hours ago

Everything you should know about Coinbase

Gaming1 day ago

How to win the war on betting

Gaming2 days ago

How to master poker

Gaming2 days ago

SCCG Management and Data Sports Group Partner to Deliver Sports Content and Analytics to the Media Industry

Ecommerce3 days ago

How professional videos can help e-commerce brands attract more customers

Cyber Security4 days ago

How to Sell Cybersecurity

Cyber Security4 days ago

Android Banking Trojan Relies on Screen Recording and Keylogging Instead of HTML

Blockchain4 days ago

The GBA Annual Achievement Awards

Energy4 days ago

CEMIG Geracão e Transmissão S.A. Announces Early Tender Date Results of its Cash Tender Offer for its 9.250% Senior Notes due 2024

Esports4 days ago

Tribes of Midgard Berserker: How to Unlock

Esports4 days ago

Tribes of Midgard Berserker: How to Unlock

Esports4 days ago

Can You Play King’s Bounty 2 on PlayStation?

Esports4 days ago

Can You Play King’s Bounty 2 on PlayStation?

Energy4 days ago

Coding And Marking Equipment Market in Industrial Machinery Industry to grow by USD 1.45 billion | Technavio

Esports4 days ago

Is King’s Bounty 2 on Xbox Game Pass?

Esports4 days ago

Is King’s Bounty 2 on Xbox Game Pass?

Energy4 days ago

CATL dévoile sa dernière technologie de pointe en lançant sa première génération de batteries sodium-ion

Energy4 days ago

CATL anuncia a sua tecnologia inovadora mais recente ao lançar a sua primeira geração de baterias de íons de sódio

Esports4 days ago

Can You Preorder King’s Bounty 2?

Esports4 days ago

Can You Preorder King’s Bounty 2?

Esports4 days ago

League of Legends’ Champion Vex: Everything You Need to Know

Esports4 days ago

League of Legends’ Champion Vex: Everything You Need to Know

Fintech4 days ago

Chilean Fintechs Secure Millions; EBANX and Amazon Forge Payments Partnership

IOT4 days ago

Edge ML on the Raspberry Pi: Remote Birding and Traffic Monitoring

Fintech4 days ago

Movers and Shakers: Finastra hires new payments lead, Credit Suisse onboards tech chief

AR/VR4 days ago

Competition: Win A Township Tale for Oculus Quest

Fintech4 days ago

Listen: How the FDIC and Duke University drive bank innovation

Fintech4 days ago

State Street to offer crypto services to private-fund clients

AR/VR4 days ago

The VR Drop: Brutal Parkour Golf

Trending