An Ethereum and Web3-Compatible Sidechain Is Coming to Bitcoin Cash – Technology Bitcoin News

On March 2, 2021, the average fee on the Ethereum network costs around 0.0083 ETH in gas or around $12.89 per transaction. Transaction fees of this caliber have dampened Ethereum-based decentralized finance (defi) applications and Web3 platforms. On February 23, however, crypto proponents were introduced to an alternative solution called Moeing chain. The Moeing chain project aims to provide the same benefits as Ethereum 2.0 scaling solutions but with help from the Bitcoin Cash network. Moeing chain to Introduce an Read more …

Gensler sticks up for Bitcoin before Congress, but doesn’t say much new

Today, the Senate Banking Committee held its first hearing on the nomination of Gary Gensler to chair the Securities and Exchange Commission. The role will have major influence on the future of crypto regulation, as the SEC has been a chokepoint for major areas like the status of initial coin offerings, approval of new exchange-traded funds, and crypto firms going public.  In his appearance before the committee, however, Gensler was evasive about any specific changes he would make to the Read more …

Litecoin is trading at a 1,800% premium via Grayscale’s LTC trust — But why?

Shares in Grayscale Investments’ Grayscale Litecoin Trust, or LTCN, have been trading at a whopping 1,800% premium over the market rate of their underlying asset, Litecoin (LTC). $319 per Litecoin?  This difference is primarily due to retail investors’ inability to purchase shares directly from Grayscale Investments, whose funds are aimed exclusively at accredited investors. LTC holdings per LTCN share (orange) and premium (blue). Source: Bybt.com It costs $319 to buy a share in Grayscale Litecoin Trust. However, its LTC holdings Read more …

‘Shark Tank’ star changes tune on Bitcoin, will allocate 3% of his portfolio

Businessman Kevin O’Leary, who appears on the reality TV show Shark Tank and once called Bitcoin a “giant nothing burger,” has now joined the laser eye community. In a tweet yesterday, O’Leary said he would be allocating 3% of his portfolio to Bitcoin (BTC) and looking into investing in sustainable crypto mining. He said his investment in the latter would be aimed to avoid “blood coins” — a reference to unethically mined diamonds — and “under a mandate of 0 Read more …

Why do we keep making new coins when Bitcoin exists?

When it comes to cryptocurrency, not everyone knows the exact meaning, but when you mention Bitcoin, everyone has heard about it. Reactions might be different but the fact is that Bitcoin is the most famous cryptocurrency in the world. Bitcoin, which is a member of the blue ocean coins with Ethereum, means that they have already reached their maximum value. Three or four months ago, if you were actively involved in the financial market, you would hear that bitcoin had Read more …

Aavegotchis sell out in under one minute as NFT euphoria continues

After a string of delays related to congestion on the Ethereum blockchain, the Aavegotchi nonfungible tokens have hit the open market — where they stayed for not even a full minute, the team reported to Cointelegraph. The Aavegotchi project attempts to create digital collectibles with real value backing them through an integration with Aave and its aTokens, interest-bearing representations of funds supplied to the DeFi protocol. While the Aavegotchis are designed to incorporate some gaming and collection elements to them, Read more …

You can now buy a used Hyundai with Bitcoin, not just a Lambo

HGreg, a Quebec-based vehicle superstore with 30 North American locations, will begin accepting cryptocurrency payments for new or pre-owned vehicles this month.  The auto dealer, which has locations in Quebec and Florida, is becoming one of the first large automotive groups to accept digital asset payments in its day-to-day operations. The company claims to have sold 500,000 vehicles over the past 25 years and maintains a warehouse in Miami that’s stocked with over 1,000 cars. “A portion of the revenue Read more …

China’s Inner Mongolia Plans to Shut Down Bitcoin Mining Operations by April This Year – Mining Bitcoin News

Inner Mongolia, an autonomous region in northern China, is planning to shut down all cryptocurrency mining activities in the area by April 2021, as part of efforts to improve energy efficiency. Regulating the Electrical Consumption in Inner Mongolia The government of Inner Mongolia will also stop approving new projects in energy-intensive industries such as steel and coke production, Reuters reported on Mar. 1, citing a draft policy to regulate energy consumption in the region. Chinese journalist “Wu Blockchain” tweeted that Read more …

Sony Europe joins Theta blockchain validator program

Sony’s European subsidiary is the latest company to join the validator program of the Theta Network, a decentralized blockchain-based video protocol. Sony Europe’s research and development group, the Center Europe Brussels Laboratory, has joined Theta’s enterprise validator and governance council program, the company announced Tuesday. As part of the development, Sony will operate an enterprise validator node located in Europe to validate network transactions on Theta’s proof-of-stake consensus protocol. Sony Europe will also act as a member of the governance Read more …

Blockchain is Finally Becoming What Was Promised

Ten years ago, Bitcoin emerged as the first cryptocurrency. It brought with it the promise to resolve some of the major challenges that come with regular fiat currencies like the US dollar (USD) and Chinese yuan (CNY) — including rampant inflation, counterfeiting, and centralization. But despite this, it isn’t Bitcoin that is poised to reshape finance as we know it, but its underlying technology known as ‘blockchain’. This decentralized ledger technology has gone through several iterations in the past decade, Read more …

Unchained Capital Raises $5.5 Million – Bitcoin Magazine

Today, Unchained Capital announced that it has closed a $5.5 million equity seed round led by New York Digital Investments Group (NYDIG). Also participating in the equity round were existing investors Ecliptic Capital, Starting Line, Platform Ventures, Stronghold Resource Partners, Trammell Venture Partners’ Bitcoin Venture Fund and Capital Factory. NYDIG is a leading institutional bitcoin technology and financial services firm that recently filed for a U.S.-based bitcoin ETF product.  “The teams at NYDIG and Unchained Capital share a mission built Read more …

Evolves files for Ether ETF with Canadian regulators

Less than a month after becoming the second firm to secure approval from Canadian regulators to list a Bitcoin (BTC) exchange-traded fund, Evolve is looking to debut an Ether (ETH) ETF product in Canada. According to a Tuesday press release, the company has filed a preliminary prospectus with Canadian regulators for approval to begin trading an Ether ETF product. According to the communique, if the Ether ETF is approved, it will trade under the ticker “ETHR” and will track the Ether-Dollar Read more …