The association between blockchains and energy is usually a negative one. “The Bitcoin blockchain is so wasteful of electricity,” or so the argument goes, “that it would push global warming to dangerous levels if it were ever used on a massive scale.” Research published in the influential journal Nature backs up this warning. Yet, if we were to look beyond Bitcoin, it becomes apparent that blockchains in general are being increasingly put to good use by the energy industry. Read more …
Nvidia had more disappointing news for investors Monday, but for once the cryptocurrency mining slump was not directly to blame. In updated guidance released Monday, the graphics card manufacturer warned it now expects to report only $2.2 billion of revenue for its fiscal 2019 fourth quarter, which ends Jan. 31, down from a previous estimate of $2.7 billion. The earlier forecast had already factored in a drop in demand for graphics processing units (GPUs) used in crypto mining, Nvidia said, and sales Read more …
With a roughly 10% increase to its market capitalization, Tether (USDT) has shifted to the fourth slot in the crypto market cap rankings. The repositioning can be attributed more to the downfall of other cryptocurrencies than it can to increased demand for Tether or expansion of its market cap. At $2 billion, it is about 20% of third-place Ethereum. Combined, the top three (Bitcoin, Ripple/XRP, and Ethereum) make up $70 billion of the current $112 billion cryptocurrency market capitalization. Former Read more …
President Donald Trump took a victory lap on Twitter on Monday for his controversial trade war against China, claiming that steel tariffs have “totally revived” and “saved” the steel industry in the United States: Tariffs on the “dumping” of Steel in the United States have totally revived our Steel Industry. New and expanded plants are happening all over the U.S. We have not only saved this important industry, but created many jobs. Also, billions paid to our treasury. A BIG Read more …
The GDPR has lofty goals when it comes to protecting consumer privacy. But even if you’re opting out and blocking cookies, you’re still being tracked. According to a group of privacy advocates in Europe lead by Brave privacy browser, advertisers can even track victims of sexual abuse. GDPR Not Stopping Behavioral Ads Behavioral advertising has become a sort of trade-off between consumers and companies. With ad fraud costing companies more than $16 billion in 2017, non-human (or bot traffic) is Read more …
Economics Our current economic system can be compared to a merry-go-round that has us consuming, trapped in debt and spending as quickly as we earn. What is fiat currency? Why do we use it and who controls it? And how does it compare to gold and bitcoin? It is worth going back to basics, to better understand the fundamentals of what makes money money. Also Read: Why a Global Recession Would Be Good for Bitcoin What Is Money? The earliest coin, featuring Read more …
Following a long period of sideways trading, Bitcoin (BTC) has now broken down below its previously established support level around $3,500. Today’s drop appears to have allowed BTC to establish support in the $3,400 region, but further volatility could easily push it down towards $3,000, where the cryptocurrency has significant buying pressure. Analyst are conclusively bearish following BTC’s recent price move, but analysts are also quick to point out that the significant technical region that BTC must maintain above remains Read more …
Vinny Lingham, a general partner at crypto fund Multicoin Capital and the CEO at Civic, has said that if the Bitcoin price drops below $3,000, it will face serious problems. In an event in which the Bitcoin price plunges to the $2,000 region — breaking a major support level at $3,000 — the investor said that crypto winter would turn into “nuclear winter.” If we break below $3000 for Bitcoin, “crypto winter” will become “crypto nuclear winter”… https://t.co/sS83cl6Em1 — Vinny Read more …
Taiwan-based computer hardware producer Nvidia updated its financial estimates for Q4 for the fiscal year of 2019, according to a press release on Jan. 28. The company is reflecting weaker forecasted sales in its gaming and data center platforms, which comes from excess mid-range channel inventory following the slump in cryptocurrency markets. Q4 revenue is expected to be at $ 2.20 billion, opposed to the previous projection of $2.70 billion according to a statement released by Nvidia on Jan 28. Read more …
Saudi Arabia has reportedly slashed its exposure to Tesla. Part of the SEC’s complaint against Tesla and Elon Musk last year was related to Musk’s claims that Saudi Arabia was backing him in taking the company private. The SEC fined Tesla and Musk separately for $20 million each in the debacle. According to the Financial Times, the Saudi Public Investment Fund made a move on January 17th to hedge its investments against expected damage to TSLA stock. They retain their Read more …
Bitcoin price down 4.2 percent at the time of press Jan Van Eck says Bitcoin investors liquidating to Gold Transaction volumes low, bulls have a chance Prices are down 4.2 percent in the last 24 hours but even so, Bitcoin bulls have a chance. A combination of fundamentals and supportive candlestick arrangement mean buyers can still recoup today’s losses and print new highs in days ahead. Bitcoin Price Analysis Fundamentals It has been 11 years of unimaginable price movements, and Read more …
Multicoin Capital announced Monday that it has led a $2.5 million seed round in a company that makes it easier to gather data from public blockchains. There’s plenty of useful data accumulating on blockchains, but the database structure doesn’t make it simple for everyone to collect and utilize. A team called The Graph is building open source software that indexes all that information so it can be quickly accessed by anyone building decentralized applications. In an announcement post Monday, Multicoin says that Read more …