“Governments Feel Threatened by Decentralization” – Tim Draper

In a recent interview with the Economic Times India, billionaire investor Tim Draper shared his views on the future of the crypto industry and its regulatory journey. Amongst many things, the popular investor believes a decentralized currency offers more perks for society than many fiat currencies. Draper Shares Views on Crypto and Decentralization The interview initially focused mainly on India’s startup industry. Draper revealed his thoughts on the prospects of the space amidst the current economic downturn. However, he later…

Crypto Winter 2022: When Will Bitcoin Bottom?

During the November rally, crypto exchange CEOs and price analysts were confident that Bitcoin would soon reach $100,000. It didn’t come close. Today, it trades for under $23,000 – 67% down from its all-time high. Fear is in the air. Crypto companies are failing left and right. Theories of an extended “supercycle” bull market have expired and been replaced by acceptance of the “crypto winter.” The only question that remains is: when will it end? Read below to learn what…

How Much Bitcoin Does Satoshi Nakamoto Own?

Satoshi Nakamoto – Bitcoin’s anonymous founder – may be the single largest Bitcoin whale on the planet. However, there’s no evidence that Satoshi ever has or will spend his coins. In fact, the crypto community isn’t even certain about how many coins belong to the founder. Just how rich is the father of Bitcoin? And what implications could his ancient stash have for both the network and the asset? The Patoshi Pattern One of the most popular theories to date…

Man Turns to Robot Dogs to Recover Hard Drive with 7,500 BTC

Years after making the news for accidentally discarding a hard drive holding nearly 7500 BTC, James Howells has a plan to recover his cryptocurrency.                How Howells Lost BTC Worth 176M USD An IT engineer, Howells was one of the first people to come in contact with the world’s largest digital currency, Bitcoin. He mined about 7500 tokens in a week, stored them in a hard drive, and promptly forgot about it. However, sometime later in August 2013, Howells came across the…

Wall Street Believes BTC Could Yet Fall to 10K

A recent MLIV Pulse survey has shed light on the sentiments of Wall Street traders regarding the future of the world’s biggest crypto Bitcoin. Considering Bitcoin’s recent struggles, several Wall Street investors expect the leading crypto to rather sink to $10k support than rising soon. Few Expect a Recovery MLIV’s new study warns Bitcoin bulls and expects the bearish period to probably last longer than earlier predicted. Over the past few months, crypto prices have continued to fall, the bearish…

El Salvador Buys the Dip; Adds 80 BTC to Its Balance Sheet

El Salvador, the first country to make Bitcoin (BTC) legal tender, has purchased an additional 80 BTC. The country’s president, Nayib Bukele, announced via Twitter earlier today. According to him, the Salvadoran government bought the tokens at an average price of $19,000. This means the government spent around $1.52 million on this purchase. [embed]https://twitter.com/nayibbukele/status/1542672286490271744?s=21&t=tNewbes_XFcRtaHCIDnHdg[/embed] This news comes on the heels of Bukele announcing the purchase of another 500 BTC on May 9. This purchase brought El Salvador’s BTC holdings 2,301…

JP Morgan Says BTC Selloff Might Worsen if Miners Continue Offloading

The increasing pressure for Bitcoin (BTC) miners to sell their holdings could further exacerbate the bear market. American multinational investment bank JPMorgan Chase strategists said in a note on June 24. Led by Nikolaos Panigirtzoglou, the strategists believe miners are selling their BTC holdings to cover operations costs. According to the strategists: Offloading of Bitcoins by miners, in order to meet ongoing costs or to deliver, could continue into Q3 if their profitability fails to improve. Panigirtzoglou and his team…

Electricity Consumption in Bitcoin Mining Industry Plunges 36% Amid Bear Market

The electricity consumption of Bitcoin mining companies has plunged significantly in the wake of the intensifying crypto winter. Crypto analyst Digiconomist revealed this news in its Energy Consumption Indices for Bitcoin (BTC) and Ethereum (ETH). According to the BTC index, the electricity consumption of Proof-of-Work (PoW) miners has plunged nearly 36% in under two weeks. Specifically, BTC’s energy use fell from 204.50 TWh on June 11 to 131.68 TWh on June 23. Despite declining by over a third, BTC’s energy…

Bitcoin Consumes 55 Times Less Energy than Traditional Banking, New Studies Show

New findings reveal that Bitcoin usage may have a smaller carbon footprint than the classical banking system.   Bitcoin's popularity has skyrocketed within the last few years as more institutions turn to cryptocurrency and the solutions it provides. However, despite its numerous advantages, the king crypto has come under fire for its massive energy consumption rates. The digital coin reportedly uses 122 TWh of electricity per year, more than is used by some countries, such as Finland.  How BTC’s Power…

1 2 3 4 44