Putin Believes Russia Could Benefit From Bitcoin Mining

Vladimir Putin isn’t as hawkish on cryptocurrencies as his nation’s Central Bank authorities. The Russian president recently stated that Bitcoin mining could be “advantageous” to Russia, casting doubt on any ban-like approaches to the sector. Internal Division Putin aired his thoughts on the matter in a government meeting on Wednesday. He began the discussion by addressing the regulation of cryptocurrencies, which he called an “issue in the spotlight”. “We have certain competitive advantages here, especially in the so-called mining,” he…

China – Investors Think It Is Almost Time to Buy Bitcoin

It took Bitcoin price around three months to fall by 50%, and investors wonder how low it can go. While this is not the most profound decline in BTC price, it certainly caught the market attention.  As experts discuss the reasons behind the fall, traders are proposing a more practical approach. Today, in particular, we will take a look at the opinion of Chinese investors on the matter. As a first step, we will briefly analyze the recent price decline…

Bukele Mocks IMF’s Request To Remove Bitcoin As Legal Tender

The International Monetary Fund (IMF) has re-stated its disapproval of El Salvador’s Bitcoin Law.  President Nayib Bukele responded with mockery over social media – as with all of his nation's critics. Even Edward Snowden called out the institution.  IMF Wags its Finger on Bitcoin The institution made its grievances public in a statement from its website on Tuesday. Though it recognized El Salvador’s economic solid recovery after the pandemic, it doesn’t think the Bitcoin law is helping:  “The adoption of…

Turkey – the Lira Crisis Is Leading to a Bitcoin Boom

The Turkish lira crisis is leading many investors to look with interest to the world of cryptocurrencies. The data shows how the increase in people who convert the Turkish currency into Bitcoin (BTC) has never been higher. This article will provide more details regarding what is happening in the Turkish currency market. After this premise, it will be easier for readers to understand the success of BTC in the country. The Lira crisis – A sad tale of high inflation…

McDonald’s Trolls Crypto Twitter Influencers

Bitcoin crashed almost 50%, and McDonald's marketing department is just rubbing it in. "How are you doing, people who run crypto Twitter accounts," they asked on Twitter, as about $130 billion in crypto assets disappeared in 24 hours. Judging by the answers, things are not going that great. Billionaires and crypto exchanged responded with crypto memes and phrases, showing just how bad things are. Crypto exchange Binance perhaps summed up the sentiment best. They responded with an image of a…

Here’s Why Bitcoin Needs Proof-Of-Work and NOT Proof-Of-Stake

A prominent crypto figurehead thinks Bitcoin needs proof-of-stake to stay afloat. The precise opposite is true.     Ben Armstrong  – a crypto investor and YouTuber of over 1.45M subscribers – had a bold take for Bitcoiners this Sunday. As stated to his 792k Twitter followers, he predicted the premier blockchain would “have to change” from using proof-of-work (POW). The creator claimed that an ever-growing environmental lobby would eventually get “too loud” for the mining industry to persist. Meanwhile, he cited…

String Of Tiny Bitcoin Miners Win Hash Lottery Throughout January

Are you feeling lucky? It turns out you don’t need to join a giant hash pool to profit from crypto mining. Over the past month, three small Bitcoin miners have individually won the race to mine Bitcoin’s next block. That means it rewarded each with a whole 6.25 Bitcoin for providing their proof-of-work. Beating the Odds Solo CK pool administrator Dr Con Colivas reported the most recent small miner win earlier today. Using just 86TH/s of hash rate capacity over…

El Salvador Buys The Dip Netting 410 Bitcoin For $15M

While some market participants are panicking amid the recent crash, the most fervent HODLers buy the dip. For example, El Salvador’s president Nayib Bukele just announced a purchase of another 410 Bitcoin for $15 million. A Nation-State Buys The Dip Bukele announced his recent purchase in a tweet moments ago, faking out some of his followers. The president – known for trading the nation’s Bitcoin from his phone – last purchased Bitcoin in December. After bagging 21 Bitcoin for $1…

Bitcoin Drops To $38,000 – More Pain Ahead?

Crypto markets collapsed after a global sell-off in risk assets and as Russia's proposed a ban on all cryptos. Bitcoin fell 9% to $38,500, breaking key support at $40,000, as global markets saw a 1% decline. Other major cryptos fell as well. Ethereum dropped by almost 12% to $2,793. Binance's native coin BNB dropped 10%. Smart contract blockchain Cardano lost 13%, dropping to $1.19, while Solana dropped by 15%, to $117. Almost all the major cryptos were in the red,…

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