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Whale From 2012 Transfers 740 Bitcoin Worth $26M After BTC Sat Idle for 9 Years – Featured Bitcoin News

On July 12, an previous whale from 2012 spent 740 bitcoin price roughly $26 million on the time of switch after 9 years of selecting to not transfer the cash. The whale acquired the bitcoin on May 31, 2012, when the stash of crypto was solely price $3,700. Old School Whale Moves 740 ‘Sleeping Bitcoins’ […]

The post Whale From 2012 Transfers 740 Bitcoin Worth $26M After BTC Sat Idle for 9 Years – Featured Bitcoin News appeared first on Bitcoin Upload.

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On July 12, an previous whale from 2012 spent 740 bitcoin price roughly $26 million on the time of switch after 9 years of selecting to not transfer the cash. The whale acquired the bitcoin on May 31, 2012, when the stash of crypto was solely price $3,700.

Old School Whale Moves 740 ‘Sleeping Bitcoins’

Bitcoiners noticed a whale transfer 740 bitcoin (BTC) on Monday after the cash sat idle for over 9 years. The bitcoin sat for roughly 3,330 days because the BTC was acquired on May 31, 2012. The address noticed life within the spring of 2012 and the wallet has been stacking small increments of BTC because the first giant deposit of 740 BTC 9 years in the past.

Whale From 2012 Transfers 740 Bitcoin Worth $26M After BTC Sat Idle for 9 Years

At the time of acquisition, bitcoin (BTC) was trading for $5 per coin so the 740 BTC was price $3,700. Today, nonetheless, the stash was price over $26 million when it transferred on Monday.

The whale motion was caught by whale-alert.io that acknowledged on Twitter {that a} “dormant address containing 791 BTC (26,147,621 USD) has just been activated after 9.1 years.” Roughly 640 BTC went to at least one address whereas 100 BTC went into one other address in keeping with blockchair.com’s transaction statistics.

Whale From 2012 Transfers 740 Bitcoin Worth $26M After BTC Sat Idle for 9 Years

The transaction hash and particulars present that the switch was despatched with a low privateness rating score (45 out of 100) in keeping with Blockchair’s Privacy-o-meter. After the switch despatched the bitcoins to 2 addresses, the cash had been then siphoned into a tree of BTC addresses.

Many Idle Whales From the Early Days Have Stirred in 2021

Whale sightings are a favourite pastime for bitcoiners and there’s been plenty of big moves this yr. For occasion, on June 9, Bitcoin.com News reported on the “mystery whale” from 2010, which has moved over 10,000 BTC that sat idle for over a decade.

Moreover, knowledge reveals that within the early days, a great number of people mined bitcoin alongside the crypto asset’s creator Satoshi Nakamoto. Last June, at block peak 687,847 an previous 2010 mining whale spent 100 BTC that sat idle for over ten years mined on July 15 after which the next day in 2010.

What do you concentrate on the 2012 whale that moved 740 bitcoin on Monday? Let us know what you concentrate on this topic within the feedback part under.

Tags on this story
2012 whale, 740 Bitcoin, Bitcoin (BTC), Blockchair’s Privacy-o-meter, BTC, mystery whale, Old Whales, Satoshi Nakamoto, sleeping bitcoins, Twitter, whale, Whale Alert, whale movement, whale sightings, whale-alert.io, Whales

Image Credits: Shutterstock, Pixabay, Wiki Commons, Twitter,

Disclaimer: This article is for informational functions solely. It shouldn’t be a direct provide or solicitation of a suggestion to purchase or promote, or a suggestion or endorsement of any merchandise, companies, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the writer is accountable, immediately or not directly, for any harm or loss precipitated or alleged to be attributable to or in reference to using or reliance on any content material, items or companies talked about on this article.

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Source: https://btcupload.com/latest-cryptocurrency-news/whale-from-2012-transfers-740-bitcoin-worth-26m-after-btc-sat-idle-for-9-years-featured-bitcoin-news

Blockchain

Crypto Mining Apps Features and Functions

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Are you curious about what crypto mining applications can do? Feel free to explore the many different features and functions of these apps to seize opportunities of gathering some heavy loot.

Multi-clicks support

So you are looking for decent crypto mining software that can help you get the job done in a short amount of time. Yes, you can find some software that is ready for use after several clicks. And you do not have to secure professional skills to be able to run the system. You can rely on automated crypto mining solutions that will do the rest of the work for you. That means most of the time, you can sit back and relax.

While most software would boast about the user-friendly interface, some would prefer complex functions such as those that offer customised features. This is common for veteran crypto miners who have already gained expertise along the process. Understandably, they would want to do more than the typical crypto mining procedure. Most of them intend to upgrade their skills by confronting new challenges to break the monotonous routine.

Multi-platform support

Whether you will be using a GPU or a CPU, rest assured that you can find the best software for your choice of hardware. Some could even go either way that you need not bother at all. Thanks to the advanced functionality of some crypto mining applications that makes this possible. Nonetheless, professional miners would prefer GPU mining for complex and complicated computations.

The good thing about most crypto mining software is that you can use them in any operating system. You can run them in Windows, Mac, Android, IOS, Web and the like. But if you do not have an array of gadgets, you can always settle for the basic software compatible with Windows. Besides, some miners would prefer using their high-end computers instead of mobile devices, considering the demanding power requirements. You would not want to get your android phone’s battery frequently drained due to intensive crypto mining activities.

Multi-functions support

Although dubbed as crypto mining software, it is a delight to hear that most of these programs offer more services. Some would also be useful in trading those mined coins once you have them in your wallet. Yes, you can go straight to trading after paying some transaction fees. The only consolation is that you can do it all on one platform. Plus, it will save you some time and effort after all.

Since you can access some crypto exchange functions, you can expect the perks that go with the typical trading platform. Rest assured that you will have those useful statistics such as price history track so that you can be guided accordingly. Trading platforms are being developed, giving traders other options to invest their money. These would teach you more than the basic skill of buying when prices are low and selling when prices are high.

Multi-cryptocurrency support

Cryptocurrency mining is no longer exclusive to a single type of coin. Some programs allow users to mine several currencies in the likes of Bitcoin, Ethereum, and other crypto players. It is an opportunity to build a good portfolio of virtual coins for any investor. The only catch is to find the best ones from the flock to ensure profitability at the end of the day. You can always go for the market leaders as fair and reasonable choices.

The diversity of digital coins available for mining helps spread the risk. It provides enough buffers to compensate for some record-lows involving one or two coins in your portfolio. As much as possible, you would be better off mining more than one kind of cryptocurrency. You cannot simply put all your eggs in one basket, especially in a market that is known for its volatility.

Conclusion

There are many interesting features and functions of crypto mining apps. You can make use of them to seize your crypto mining opportunities—no need to hold back in taking your chances of mining more and more coins.

Source: Plato Data Intelligence

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Blockchain

Iran To Lift Cryptocurrency Mining Ban In September

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In 2019, the Iranian government announced it would regulate mining activities in the country. Interested miners were required to get a permit from the Ministry of Industries. Semnan province leads with six mining farms out of the 30 licensed companies. After legalizing bitcoin mining, the government licenced over 1000 companies in January 2022.

Ban on Crypto Mining Activities

The Iranian government banned bitcoin mining in the country in May 2021. The ban announced by the former president Hassan Rouhani was due to a strain on electricity power majorly caused by illegal mining. While authorised bitcoin miners consume modest 30 megawatts, illegal mining activities use up to 2000 megawatts putting a strain on the electricity grid. 

Since April, the ministry of Energy has also increased power tariffs for miners. The companies buy power at export rates of $0.34 per kilowatt-hours. This cost is fourfold the standard rate before April. Besides prohibiting bitcoin mining, the government has confiscated 200 000 illegal mining rigs in 12 months. 

A Reason To Smile 

The good news is that miners have a reason to smile. The Iranian Ministry of Industries, Mining and Trade will lift the Bitcoin mining restriction on September 22. The announcement was made by the Iran Power Generation, Distribution and Transmission Company, Tavanir. According to the Utility spokesman, Mostafa Rajabi Mashhadi, they expected electric power usage to fall by the end of summer. This will create perfect conditions for resuming bitcoin mining. After announcing this news, the price of Bitcoin slightly jumped and is now according to CoinCheckup.com traded at $43,626, similar growth has also been according to coincheckup.com recorded for a relatively new coin called Solana, which now hovers around the 150 USD mark.

Power demand in the country goes up during hot weather. Initially, the government had planned to shut down mining activities during peak hours. However, they decided to impose a nationwide ban until the end of the summer season. Besides using massive power, the Utility claims the miners damage the power grid, with losses amounting to $4 million. 

Government Control on CryptoCurrencies 

The Iran government has gone a notch higher to control and centralise the use of cryptocurrencies in the country. The parliament has proposed a bill that will prohibit using foreigner mined cryptocurrencies for local transactions. This move seems like a plan to localize crypto mining. Recently, the tax agency in the country also called for the establishment of a legal framework for crypto trading activities. This regulation will boost the scope of the crypto acceptance policy.

Positive Effect on Economy 

Bitcoin has become a significant source of income for the country. Elliptics guide’s projection shows that mining activities in Iran will rake in $1 billion in annual revenue.  However, the ban has affected this goal significantly. However, the resumption of mining will solve this problem.

Miners who had dispersed will resume operations, a factor that could inject more revenue into the economy. With the crackdown of bitcoin mining in China, lifting the ban in Iran could propel the country to the top spot in crypto mining. 

Iran is also facing sanctions from the US government. This means that MasterCard, PayPal and other international payment technology can’t operate in the country. This has made it very difficult for Iranians to conduct online international transactions such as online purchases and money transfers. The bitcoin mining ban exacerbated the situation. Therefore resumption of mining activities is welcome good news. Iranians consider cryptocurrency as an investment and payment method.

Bitcoin mining is quite an essential activity in the circulation, development and maintenance of its blockchain ledger. In other words, mining more bitcoin boosts its circulation. Although bitcoin price is pretty much unpredictable, the resumption of mining activities in Iran will increase competitiveness and encourage crypto enthusiasts to invest more in bitcoin. Despite the high volatility and restriction by the international banking system, bitcoin has immense growth potential. 

Source: Plato Data Intelligence

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Investors Flock to the DEX dYdx with its Token with Rising by 50% after the Clampdown from China

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Since last Friday, the People’s Bank of China began to crack down on cryptocurrency trading, a large number of Chinese traders seem to have turned their trading venues to dYdX – a decentralized leveraged trading exchange.

The trading activity of the centralized derivatives exchange dYdX has surged. According to cryptocurrency data provider CoinGecko, the trading volume of DYDX reached $1,217,300,925 within 24 hours, surpassing Coinbase’s spot market for the first time.

The token of Defi exchange dYdX also hit a record high of 21.80 today, rising by nearly 50% in 24 hours.

According to Coinmarketcap data, DYDX’s 24-hour trading volume increased by 196.28%. At the time of writing, dydx is trading at $21.43.

In yesterday’s Twitter, WuBlockchain Chinese cryptocurrency reporter Colin Wu pointed out that the demand of Chinese users for decentralized exchanges and other DeFi products has surged recently. He explained:

“A large number of Chinese users will flood into the DeFi world, and the number of users of MetaMask and dYdX will greatly increase. All Chinese communities are discussing how to learn defi.”

As Chinese investors are worried about the stricter regulatory measures of the Chinese government, such as an announcement issued by the Central Bank of China last Friday mentioned that all cryptocurrency-related transactions are illegal.

Virtual currencies such as Bitcoin, Ether, Tether, and other virtual currencies do not enjoy the same legal status as legal tender, are not legally repayable, thus should not be traded as circulating currencies in the market, which has caused investors’ FUD anxiety.

Investors have moved from centralized exchanges such as Huobi to decentralized exchanges dYdX and FutureSwap for continuing cryptocurrency leveraged trading.

As reported by Blockchain.News today, Huobi Global, one of the world’s largest digital currency trading platforms, has announced it will gradually unwind its services in mainland China as the People’s Bank of China (PBoC) and other state regulators seek to intensify their clampdown on all activities bordering digital currencies in the country.

Huobi officials stated that it has stopped using mobile phone numbers from mainland China in new account registrations and will phase out existing accounts in mainland China before the end of the year “to comply with local laws and regulations.”

Huobi token has fallen by 42.61% in 7 days and is valued at around $7.63, according to the current price.

Image source: dYdx.com
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Source: https://Blockchain.News/news/investors-flock-the-dex-dydx-its-token-rising-50-the-clampdown-china

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Blockchain

Investors Flock to the DEX dYdx with its Token with Rising by 50% after the Clampdown from China

Published

on

Since last Friday, the People’s Bank of China began to crack down on cryptocurrency trading, a large number of Chinese traders seem to have turned their trading venues to dYdX – a decentralized leveraged trading exchange.

The trading activity of the centralized derivatives exchange dYdX has surged. According to cryptocurrency data provider CoinGecko, the trading volume of DYDX reached $1,217,300,925 within 24 hours, surpassing Coinbase’s spot market for the first time.

The token of Defi exchange dYdX also hit a record high of 21.80 today, rising by nearly 50% in 24 hours.

According to Coinmarketcap data, DYDX’s 24-hour trading volume increased by 196.28%. At the time of writing, dydx is trading at $21.43.

In yesterday’s Twitter, WuBlockchain Chinese cryptocurrency reporter Colin Wu pointed out that the demand of Chinese users for decentralized exchanges and other DeFi products has surged recently. He explained:

“A large number of Chinese users will flood into the DeFi world, and the number of users of MetaMask and dYdX will greatly increase. All Chinese communities are discussing how to learn defi.”

As Chinese investors are worried about the stricter regulatory measures of the Chinese government, such as an announcement issued by the Central Bank of China last Friday mentioned that all cryptocurrency-related transactions are illegal.

Virtual currencies such as Bitcoin, Ether, Tether, and other virtual currencies do not enjoy the same legal status as legal tender, are not legally repayable, thus should not be traded as circulating currencies in the market, which has caused investors’ FUD anxiety.

Investors have moved from centralized exchanges such as Huobi to decentralized exchanges dYdX and FutureSwap for continuing cryptocurrency leveraged trading.

As reported by Blockchain.News today, Huobi Global, one of the world’s largest digital currency trading platforms, has announced it will gradually unwind its services in mainland China as the People’s Bank of China (PBoC) and other state regulators seek to intensify their clampdown on all activities bordering digital currencies in the country.

Huobi officials stated that it has stopped using mobile phone numbers from mainland China in new account registrations and will phase out existing accounts in mainland China before the end of the year “to comply with local laws and regulations.”

Huobi token has fallen by 42.61% in 7 days and is valued at around $7.63, according to the current price.

Image source: dYdx.com
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Source: https://Blockchain.News/news/investors-flock-the-dex-dydx-its-token-rising-50-the-clampdown-china

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