Bitcoin

Iran’s smog, blackouts made worse by power-sapping crypto mining

Outages have been compounded by cryptocurrency mining, which uses banks of high-powered computers. Cities across Iran have been cloaked in thick layers of toxic smog and darkened by blackouts, as the alleged use of low-quality fuel and power-sucking cryptocurrency mining deepen the country’s hardships. Tehran’s Hamshahri newspaper, the country’s most-read daily, ran the headline, “20 Days Living in Smoke,” on Wednesday over a photo of the capital covered in smog. Power plants have been forced to switch to burning low-grade fuel oils to generate electricity because high levels of domestic consumption have led to natural-gas shortages, the semi-official Iranian Students’ News Agency reported. Oil Minister Bijan Namdar Zanganeh denied earlier this week that any of Iran’s power stations are us...

The Role Of Artificial Intelligence In Enhancing Cybersecurity

The Cold War period fostered all sorts of technological advancements, whereas in contemporary times the more technologically advanced the world we have the more cybersecurity is at risk. Combining the quality of artificial intelligence (AI) with cybersecurity, security experts have extra assets to guard helpless systems and information against cyber assailants. After applying this innovation, it brought moment bits of knowledge, coming about in diminished reaction times. Artificial Intelligence And Bitcoins. We can barely avoid the role of artificial intelligence which is more beneficial in bitcoins trading. Bitcoin trader in the cryptocurrency market uses the exchange framework which is automatic in nature in order to earn confined wages. Valuable metals such as silver and gold are compar...

Rollercoaster: Bitcoiners who missed rally feel relief and regret

Arianna O’Dell, a 30-year-old entrepreneur and songwriter based in New York City, had a tumultuous four-year journey in cryptocurrency before selling her investments in February. During her rollercoaster ride, bitcoin prices swung from less than $1,000 to nearly $20,000. O’Dell may not have made optimal decisions about when to buy or sell, and missed out on the recent rally – but said she does not regret that. Investing $2,705 worth of proceeds into her business was better than enduring the stress of daily fluctuations, even though the price has since doubled, she said. “Honestly, I’ve had more luck in Vegas than I’ve had with cryptocurrencies,” O’Dell said in an interview. She is part of a relatively new class of retail investors who joined the cryptocurrency market years ago, helping pro...

The Future of Bitcoin in Africa

Bitcoin is a popular cryptocurrency across the world today and even African countries are already picking up the pace. So far, Africa looks promising for cryptocurrency, and the Arcane Research Report on the State of Crypto in Africa further buttresses this point. This is due to several common factors in these countries, such as failing currencies, costly payments, lack of banking infrastructure, and more. These factors are enough reasons to make anyone move towards any other option that provides something better. For Africans, that might be Bitcoin. Bitcoin is a decentralized currency with no third-party institution like a bank, which makes transactions seamless across countries anytime and anywhere.  Political Instability Although political instability can be seen in many countries,...

More Women In Africa are Turning To Cryptos, Research Shows

Sourced from Hacker Noon. The COVID-19 pandemic has brought the global economy to a standstill and put millions of people under financial stress. Understandably, people from all walks of life started looking for alternative income streams. Not only are these side jobs providing women with additional income, but they are also giving individuals an opportunity to develop new skills in the bitcoin and blockchain space. Blockchain skills are in high demand internationally and may unlock new career opportunities or set the ground for running a successful business in the future.  Beyond speculative activities, bitcoin already drives a whole range of entrepreneurial ventures including arbitrage, remittance, e-commerce and educational projects, to name a few. /* custom css */ .tdi_3_b38.td-a-...

Bitcoin could Rank as the 8th Largest Bank Globally, Research Says

If Bitcoin were a bank, it would rank as the eighth largest bank globally with a market cap of $169.01 billion, according to data gathered by Buy Shares. Bitcoin continues to lead the cryptocurrency sector towards mainstream adoption on a global scale by directly competing with traditional players like banks. The asset’s high cap correlates with its impressive 27.18% ROI on a Year-to-Date basis. Bitcoin beats traditional markets in ROI From the data, JP Morgan Chase’s cap of $433.5 billion, makes it the biggest bank in the world. Bitcoin would also rank lower than the Bank of America with a market cap of $306 billion. /* custom css */ .tdi_3_52f.td-a-rec-img{ text-align: left; }.tdi_3_52f.td-a-rec-img img{ margin: 0 auto 0 0; } ICBC ranks third with a capitalization of $290.9 billion follo...

Grand jury indicts Woodberry for ‘wire fraud’

Olalekan Ponle, a Nigerian held in the United States for alleged multi-million-dollar fraud, has been indicted by the grand jury, a group of lawyers empowered to conduct legal proceedings and investigate potential criminal conduct. Ponle, popularly known as Woodberry, alongside Ramoni Abbas, also known as Hushpuppi, was arrested in the United Arab Emirate on June 10 for multiple fraud charges after a raid by operatives of the Dubai crime unit. According to the complaint, an unnamed Chicago company was defrauded into sending wire transfers totalling $15.2 million. Companies based in Iowa, Kansas, Michigan, New York and California also were victims of the fraud, prosecutors say. Newsmen reported how the Federal Bureau of Investigation (FBI) nabbed Ponle through details accessed from his What...

Will Crypto Enter The Mainstream In Africa?

Cryptocurrencies are garnering interest across the globe, and have been for the last decade, but it is in Africa in which many are starting to think that these new digital currencies will take off with vigour. The reason for this could well be that Africa finds itself in a rather unique monetary situation, along with an equally unique technological one.  Mobile and crypto, the perfect combination Whereas in Europe and North America Internet connectivity took off mainly through fixed-line broadband, Africa has been at the forefront of truly mobile-first Internet infrastructure. While cities are indeed rolling out fixed-line broadband, the vast majority of Africans get online through their data connection solely on their mobile phone. This has lead to a situation where 5G is expected to...

Bitcoin Arbitrage: The Story of Free Money

Bitcoin arbitrage opportunity in South Africa. You might be thinking, “What on earth is arbitrage trading?” or “I’ve heard of this before and always wondered what it is”. Whichever one you thought of, we’re going to make the understanding of what it is and how to take advantage of it as simple as possible.  OVEX – one of South Africa’s top cryptocurrency exchange and brokerage firms offers a fully managed arbitrage service, register now, sit back and make money.  What Is Arbitrage? In a nutshell, arbitrage is purchasing an asset in one market and simultaneously selling it in another market at a higher price and thus profiting on the temporary difference in price. So what is the holy grail of outperforming the market? Taking advantage of inefficiencies in the market is considered ...

Bitcoin is Part of Mainstream Finance, says deVere CEO

Sourced from Ethereum World News. Bitcoin’s historic halving event on Monday underscores that the “long-term future of cryptocurrencies is secure”, says the CEO and founder of one of the world’s largest independent financial advisory organisations. The comments from deVere Group’s Nigel Green come as the world’s supply of Bitcoin was forever slashed. The highly anticipated halving event, occurring only every four years, means that less and less Bitcoin – which is limited to 21 million units – will now be mined. Monday’s was only the third ever halving. In 2012, the number of new Bitcoins issued every 10 minutes fell from 50 to 25. In 2016, it went down from 25 to 12.5. Now, in the 2020 halving, it will drop from 12.5 to 6.25. Nigel Green says that the “Bitcoin halving event has demonstrate...

What to Expect from the 2020 Bitcoin Halving

The Bitcoin halving is a planned reduction in rewards miners receive. Halvings happen once every four years or so. And the next one will take place in the early hours of Tuesday, 12 May 2020. What exactly is a halving and why does it happen? Bitcoin is generated by miners. They have computers performing complex calculations which validate the transactions on a public digital ledger, called the blockchain. The miners compete with each other to earn newly-issued tokens known as a block reward. A halving is a 50% reduction in the value of rewards to Bitcoin miners. There is a finite number of Bitcoin that will ever be in circulation (21 million) and there is no way of producing more. Halvings are a unique protocol which controls the supply of Bitcoin. /* custom css */ .tdi_3_98b.td-a-rec-img{...

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