Bitcoin network mined 19 million coins
Yesterday, April 1, miners mined the jubilee 19 millionth bitcoin. This event took place on block number 730.002.
This means that over 90 percent of the limited bitcoin issue of 21 million has already been mined.
Given that the reward for generating a block is gradually decreasing, hypothetically this situation should occur even before all the bitcoins have been issued. At some point, the cost of mining will exceed the reward for block discovery (if the bitcoin price does not rise in proportion to the increase in complexity).
Nevertheless, miners will still profit from the transaction fees they include in the blocks.
Yesterday, April 1, miners mined the jubilee 19 millionth bitcoin. This event took place on block number 730.002.
This means that over 90 percent of the limited bitcoin issue of 21 million has already been mined.
Given that the reward for generating a block is gradually decreasing, hypothetically this situation should occur even before all the bitcoins have been issued. At some point, the cost of mining will exceed the reward for block discovery (if the bitcoin price does not rise in proportion to the increase in complexity).
Nevertheless, miners will still profit from the transaction fees they include in the blocks.
Arthur Hayes predicts Solana to soar to $200
The altcoin reached a historic high at the beginning of November last year. At that time, the rate of SOL exceeded $260.
According to BitMEX founder Arthur Hayes, Solana can soar to $200. SOL activity is growing rapidly, and this factor is driving the growth of the altcoin's value.
He also predicts a surge in ether as well. Hayes expects the biggest altcoin to jump to $10,000 after the release of the updated ETH 2.0 network.
However, the BitMEX founder noted that his prediction may not come true because factors may emerge at any time that will trigger a drop in the value of both Solana and ether.
The altcoin reached a historic high at the beginning of November last year. At that time, the rate of SOL exceeded $260.
According to BitMEX founder Arthur Hayes, Solana can soar to $200. SOL activity is growing rapidly, and this factor is driving the growth of the altcoin's value.
He also predicts a surge in ether as well. Hayes expects the biggest altcoin to jump to $10,000 after the release of the updated ETH 2.0 network.
However, the BitMEX founder noted that his prediction may not come true because factors may emerge at any time that will trigger a drop in the value of both Solana and ether.
👍1
This media is not supported in your browser
VIEW IN TELEGRAM
Top 10 networks by TVL in 2022
Interestingly, this graph excludes Ethereum. The favorites in the "race" are Terra and BNB Chain.
*TVL (Total Value Locked) is the total amount of funds locked into a smart contract.
Interestingly, this graph excludes Ethereum. The favorites in the "race" are Terra and BNB Chain.
*TVL (Total Value Locked) is the total amount of funds locked into a smart contract.
🔥 The German prosecutor's office announced the liquidation of the darknet marketplace Hydra.
💸 Also German law enforcers confiscated Hydra servers and seized 543 BTC worth $25 million.
The site reads "platform and criminal content confiscated" in Russian.
💸 Also German law enforcers confiscated Hydra servers and seized 543 BTC worth $25 million.
The site reads "platform and criminal content confiscated" in Russian.
🇬🇧 The United Kingdom announced the development of a global cryptohub:
- Stablecoins will be recognized as an official form of payment
- The Mint will begin issuing NFTs in the summer
- A sandbox will be created for experimentation and innovation in blockchain and cryptocurrencies
- The tax system will be upgraded to digital assets
- A special group of cryptocurrency experts will be created to work closely with the industry.
- Stablecoins will be recognized as an official form of payment
- The Mint will begin issuing NFTs in the summer
- A sandbox will be created for experimentation and innovation in blockchain and cryptocurrencies
- The tax system will be upgraded to digital assets
- A special group of cryptocurrency experts will be created to work closely with the industry.
⚒ Intel Blockscale ASICs for BTC mining will be available in the third quarter of 2022 - each device will deliver hashing speeds of up to 580 GH/s with an energy efficiency of 26 J/TH.
Several major companies have already pre-ordered, including Argo Blockchain, Block Inc, Hive Blockchain Technologies and GRIID Infrastructure.
Several major companies have already pre-ordered, including Argo Blockchain, Block Inc, Hive Blockchain Technologies and GRIID Infrastructure.
Georgia intends to legalize digital currencies
Back in mid-2019, the law on taxation of miners and traders started to work in the country.
Back then there were plans to create an infrastructure for companies mining cryptocurrencies in Georgia. Tbilisi promised that the country would become one of the centers of development of the mining industry in Europe. However, the Ministry of Finance then rejected the proposal to allow the use of cryptocurrencies as a means of payment.
This week it became known about the Georgian Central Bank's plans to introduce a regulatory framework for the cryptosphere.
As Financial portal specifies with reference to the head of Central Bank Koba Gvenetadze, legalization is necessary, as the monthly volume of trading such assets in the country exceeds 5 million GEL ($1.6 million).
Gvenetadze says that all cryptocompanies will have to register in a special register as service providers and pay taxes.
Back in mid-2019, the law on taxation of miners and traders started to work in the country.
Back then there were plans to create an infrastructure for companies mining cryptocurrencies in Georgia. Tbilisi promised that the country would become one of the centers of development of the mining industry in Europe. However, the Ministry of Finance then rejected the proposal to allow the use of cryptocurrencies as a means of payment.
This week it became known about the Georgian Central Bank's plans to introduce a regulatory framework for the cryptosphere.
As Financial portal specifies with reference to the head of Central Bank Koba Gvenetadze, legalization is necessary, as the monthly volume of trading such assets in the country exceeds 5 million GEL ($1.6 million).
Gvenetadze says that all cryptocompanies will have to register in a special register as service providers and pay taxes.
❤1
Intel announced a new chip for mining
The new Blockscale ASIC is a specialized chip for mining bitcoin and other similar cryptocurrencies using SHA-256 cryptographic algorithm.
The processor has a hashing speed of up to 580 GH/s and energy efficiency of up to 26 J/TH - the leader in efficiency on the current market. There are built-in temperature and voltage sensors, as well as the ability to support up to 256 integrated circuits in a bundle.
Argo Blockchain, Block Inc., Hive Blockchain Technologies and GRIID Infrastructure have already signed up to buy the new product.
The new Blockscale ASIC is a specialized chip for mining bitcoin and other similar cryptocurrencies using SHA-256 cryptographic algorithm.
The processor has a hashing speed of up to 580 GH/s and energy efficiency of up to 26 J/TH - the leader in efficiency on the current market. There are built-in temperature and voltage sensors, as well as the ability to support up to 256 integrated circuits in a bundle.
Argo Blockchain, Block Inc., Hive Blockchain Technologies and GRIID Infrastructure have already signed up to buy the new product.
💸 Binance US raised more than $200 million in an initial funding round, valuing the company at $4.5 billion.
The investors were Circle Ventures, VanEck,RRE Ventures, Foundation Capital, Original Capital and others.
Earlier, Changpeng Zhao said that not only Binance US, but also the main exchange Binance can hold an IPO - it will require much more serious preparation because of the scale of the company.
The investors were Circle Ventures, VanEck,RRE Ventures, Foundation Capital, Original Capital and others.
Earlier, Changpeng Zhao said that not only Binance US, but also the main exchange Binance can hold an IPO - it will require much more serious preparation because of the scale of the company.
STEPN token rises in value after investment announcement from Binance Labs
The venture capital arm of the cryptocurrency exchange announced a strategic investment in a Move-to-Earn project called STEPN from Find Satoshi Lab. The GMT project's token rose significantly in value after the announcement by Binance Labs, up 20%. The amount of funding was not disclosed.
STEPN gives you the opportunity to earn gaming tokens (GST), through walking or running outdoors. For now, the app is only available in beta.
The venture capital arm of the cryptocurrency exchange announced a strategic investment in a Move-to-Earn project called STEPN from Find Satoshi Lab. The GMT project's token rose significantly in value after the announcement by Binance Labs, up 20%. The amount of funding was not disclosed.
STEPN gives you the opportunity to earn gaming tokens (GST), through walking or running outdoors. For now, the app is only available in beta.
An investor in TON tried to sue Telegram for $280,000
As a result of the trial, he owed Pasha Durov $700,000.
Could anyone have expected a different outcome?
Igor Chuprin, the founder of Zotobi Manaement Limited, demanded that Telegram return 100% of his investment in TON. He appealed to the London court, but the judge sided with Durov. As a result, Chuprin, who sued for $280,000, must cover Telegram's $700,000 costs.
During the trial, he recounted that he "made the decision to invest in TON in a hurry and didn't read the investor documents listing the risks."
Unsurprisingly, this prosecution stance led to a harsh rout in court.
Pavel Durov himself even managed to comment on the event in the Durov Code channel. Interestingly, in order to leave comments on this channel, subscribers must pay 1 TON.
At 1 TON he got rich, $700,000 raised.
As a result of the trial, he owed Pasha Durov $700,000.
Could anyone have expected a different outcome?
Igor Chuprin, the founder of Zotobi Manaement Limited, demanded that Telegram return 100% of his investment in TON. He appealed to the London court, but the judge sided with Durov. As a result, Chuprin, who sued for $280,000, must cover Telegram's $700,000 costs.
During the trial, he recounted that he "made the decision to invest in TON in a hurry and didn't read the investor documents listing the risks."
Unsurprisingly, this prosecution stance led to a harsh rout in court.
Pavel Durov himself even managed to comment on the event in the Durov Code channel. Interestingly, in order to leave comments on this channel, subscribers must pay 1 TON.
At 1 TON he got rich, $700,000 raised.
This media is not supported in your browser
VIEW IN TELEGRAM
At the Bitcoin 2022 conference in Miami, a new version of the "Attacking Bull" statue from Wall Street was shown. The appearance of the monument refers to bitcoin as the future of global finance. That's why the bull looks so "futuristic."
Beautiful! 😍🔥
Beautiful! 😍🔥
The analyst who predicted the correction of BTC 2018 told when bitcoin returns to growth
The expert drew attention to the cyclical movement of the cryptocurrency.
According to his calculations, each outbreak, which contributed to the significant growth of bitcoin, was preceded by a phase of 33 months.
In his opinion, that much time should pass before BTC can once again enter a positive movement that will lead to the renewal of the highs.
After analyzing bitcoin's movement history, the analyst came to the conclusion that the next outbreak of BTC growth may be recorded only in May 2024.
The expert drew attention to the cyclical movement of the cryptocurrency.
According to his calculations, each outbreak, which contributed to the significant growth of bitcoin, was preceded by a phase of 33 months.
In his opinion, that much time should pass before BTC can once again enter a positive movement that will lead to the renewal of the highs.
After analyzing bitcoin's movement history, the analyst came to the conclusion that the next outbreak of BTC growth may be recorded only in May 2024.
Meta has plans to release "Zuck Bucks" cryptocurrency
Due to regulatory pressure, Meta has abandoned its Diem cryptocurrency, but the company is still exploring "next-generation financial products." Some reputable media outlets claim that Facebook and Instagram's parent company has several cryptocurrencies in the pipeline, including a cryptocurrency called "Zuck Bucks" (it's not yet clear if this is the real name or just a joke).
Most likely, the new digital asset will be off the blockchain and centrally controlled by the company.
Meta is also exploring the launch of "social tokens" or "reputation tokens," which would be paid as rewards to content creators on Facebook.
Previously, the company has repeatedly announced the launch of its own meta universe, as well as the future integration of NFT into Facebook and Instagram.
Due to regulatory pressure, Meta has abandoned its Diem cryptocurrency, but the company is still exploring "next-generation financial products." Some reputable media outlets claim that Facebook and Instagram's parent company has several cryptocurrencies in the pipeline, including a cryptocurrency called "Zuck Bucks" (it's not yet clear if this is the real name or just a joke).
Most likely, the new digital asset will be off the blockchain and centrally controlled by the company.
Meta is also exploring the launch of "social tokens" or "reputation tokens," which would be paid as rewards to content creators on Facebook.
Previously, the company has repeatedly announced the launch of its own meta universe, as well as the future integration of NFT into Facebook and Instagram.
30% tax on crypto is not enough
Despite the fact that India already has two taxes - 30% on profits and 1% on all operations with cryptocurrencies - the local government is still short of money.
Member of Parliament Sushil Kumar Modi thinks the rate should be raised to 50% and an additional 28% tax on goods and services, which will have to be paid by providers of trading services. He stated:
"The authorities have made it clear to people that cryptocurrency trading is a game of chance like lottery, casino and horse racing. These types of activities are subject to very high taxes."
Obviously, such laws will force local crypto companies and traders to either cease operations or leave the country.
Perhaps that’s the reason for such high tax rates (besides money)\. The Indian government has repeatedly stated that cryptocurrencies can disrupt the stability of the local financial system.
Despite the fact that India already has two taxes - 30% on profits and 1% on all operations with cryptocurrencies - the local government is still short of money.
Member of Parliament Sushil Kumar Modi thinks the rate should be raised to 50% and an additional 28% tax on goods and services, which will have to be paid by providers of trading services. He stated:
"The authorities have made it clear to people that cryptocurrency trading is a game of chance like lottery, casino and horse racing. These types of activities are subject to very high taxes."
Obviously, such laws will force local crypto companies and traders to either cease operations or leave the country.
Perhaps that’s the reason for such high tax rates (besides money)\. The Indian government has repeatedly stated that cryptocurrencies can disrupt the stability of the local financial system.
Jack Dorsey's NFT first tweet sells for $48 million
The current owner of the token has apparently made the most of the opportunities this purchase offers and has decided to share the incredible experience with the next lucky winner.
For only $48 million.
While this nft was purchased for $2.9 million.
That's a pretty good markup. If the token is bought for that kind of money, it will be one of the top 10 most expensive.
No willing buyers yet 🙈
Interestingly, last year Jack Dorsey gave all the profits from the initial sale of NFT to the charity GiveDirectly. He urged the new owner of the token to do the same - to give at least 99% of the proceeds, but so far he agrees to give only 50%.
The current owner of the token has apparently made the most of the opportunities this purchase offers and has decided to share the incredible experience with the next lucky winner.
For only $48 million.
While this nft was purchased for $2.9 million.
That's a pretty good markup. If the token is bought for that kind of money, it will be one of the top 10 most expensive.
No willing buyers yet 🙈
Interestingly, last year Jack Dorsey gave all the profits from the initial sale of NFT to the charity GiveDirectly. He urged the new owner of the token to do the same - to give at least 99% of the proceeds, but so far he agrees to give only 50%.
🇭🇳 Bitcoin became legal tender in the special economic zone of Honduras, located on the island of Roatan. Apart from cryptopayments within the jurisdiction, the new law will allow issuing Bitcoin bonds.
The media had previously claimed that Honduras could declare Bitcoin a legal tender as soon as possible, but the country's central bank denied the rumors.
That's right, you need to test it first, and then implement it...in a few months
The media had previously claimed that Honduras could declare Bitcoin a legal tender as soon as possible, but the country's central bank denied the rumors.
That's right, you need to test it first, and then implement it...in a few months
Canaan unveiled new bitcoin miner
Mining equipment manufacturer Canaan presented its Avalon 1266 model at a conference in Miami.
The mining power and efficiency of the new model puts it between the competing Bitmain S19 and S19 Pro machines.
The Avalon 1266 will have a mining capacity of 100 terahashes per second (TH/s) and an energy efficiency of 35 joules per terahash (J/T).
Canaan Vice President Edward Lu said the value of the new mining machine lies in its durability.
"If you buy our machines, you can use them for a lifetime...You don't have to change your machine or replace it every year."
Prices for the new asic have not yet been disclosed.
Mining equipment manufacturer Canaan presented its Avalon 1266 model at a conference in Miami.
The mining power and efficiency of the new model puts it between the competing Bitmain S19 and S19 Pro machines.
The Avalon 1266 will have a mining capacity of 100 terahashes per second (TH/s) and an energy efficiency of 35 joules per terahash (J/T).
Canaan Vice President Edward Lu said the value of the new mining machine lies in its durability.
"If you buy our machines, you can use them for a lifetime...You don't have to change your machine or replace it every year."
Prices for the new asic have not yet been disclosed.