Wednesday, October 28Your Daily Bitcoin & Altcoin News Portal

Author: Wealthy Miner

Awesome interactive NFT artwork shows effects of sponsoring kids

Awesome interactive NFT artwork shows effects of sponsoring kids

BITCOIN
Please share if you find this article interesting. Awesome interactive NFT artwork shows effects of sponsoring kids A former baseball player has created a non-fungible token, time-sensitive artwork piece that allows crypto holders to donate Bitcoin to enable two African American boys to fulfill their dreams. According to a representative for the artist, former Tampa Bay Rays player Micah Johnson, marketplace Async Art will be making NFT artwork available starting on Oct. 29. The NFT is programmed to show the effects that Bitcoin (BTC) donations will have on the two children, represented by a door opening wider with each passing year. Each year on the boys’ respective birthdays, a BTC QR code will appear directing all NFT holders to make a “Bitcoin birthday contribution” to help t
Marathon Buys Additional 10,000 Antminers to Become Largest US Bitcoin Miner | Mining Bitcoin News

Marathon Buys Additional 10,000 Antminers to Become Largest US Bitcoin Miner | Mining Bitcoin News

BITCOIN
Please share if you find this article interesting. Marathon Buys Additional 10,000 Antminers to Become Largest US Bitcoin Miner | Mining Bitcoin News Philippines Regulator Warns Investors to Steer Clear of Mining City's Bitcoin Vault Ponzi There’s a mining contract scheme people are discussing and making the rounds on the web called “Mining City” or “Bitcoin Vault.” The Philippines SEC recently put out a warning against the operation and the alleged masterminds behind the project. One ... read more. Shariah Compliance Expert Says Cryptocurrencies Are Legit Commodities A shariah compliance expert, the current chairman of the Shariah Advisory Council at Malaysia's central bank and a shariah board member at many financial companies, says that cryptocurrency is a legit commodity t
‘A Race Toward Zero’: With Hashrate in the Clouds, Bitcoin Mining Is Less Profitable Than Ever

‘A Race Toward Zero’: With Hashrate in the Clouds, Bitcoin Mining Is Less Profitable Than Ever

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. ‘A Race Toward Zero’: With Hashrate in the Clouds, Bitcoin Mining Is Less Profitable Than Ever Bitcoin mining profitability is in the basement, seeing all-time lows in 2020. Conversely, Bitcoin's hashrate has surged throughout 2020, propelled in part by mining farms financing new hardware to boost their operations. Bitcoin's hashrate has taken a dip as China's wet season comes to an end, but mining professionals predict this will only be temporary, and it has only improved profit margins so much. Bitcoin mining profits have been rock bottom in 2020. For much of the year, the cryptocurrency has been less profitable to mine than ever. And that’s because Bitcoin’s collective hashrate – or how much computing power is pulsing thro
MicroStrategy’s crypto holdings may be paying off more than its business

MicroStrategy’s crypto holdings may be paying off more than its business

BITCOIN
Please share if you find this article interesting. MicroStrategy's crypto holdings may be paying off more than its business Business intelligence firm MicroStrategy’s Bitcoin investment is paying off in a big way, with an estimated $100 million in profit.  According to data published Oct. 27 by independent crypto researcher Kevin Rooke, MicroStrategy has earned more from its Bitcoin (BTC) investment than it did through its actual business for the last three years, from Q1 2017 to Q2 2020. Rooke’s data shows that the business intelligence firm’s 38,250 BTC holdings — worth roughly $425 million at the time of purchase in August and September — were valued at more than $525 million during the recent price surge to $13,745. According to the researcher, Microstrategy only earned $78 m
Bitcoin becoming less-risky as an investment, Novogratz says

Bitcoin becoming less-risky as an investment, Novogratz says

BITCOIN
Please share if you find this article interesting. Bitcoin becoming less-risky as an investment, Novogratz says Bitcoin (BTC) has gained significant notoriety in the decade since its 2009 launch. Big mainstream players such as MicroStrategy have recently begun to invest large sums of money into the asset, normalizing its viability as an investment for some. Mike Novogratz, CEO of Galaxy Digital, said Bitcoin is now an obvious financial play. "On a risk-adjusted basis, BTC is an easier bet today than it has ever been," Novogratz said in an Oct. 27 tweet. "It’s being de-risked daily." Cointelegraph reached out to Novogratz for additional details, but received no response as of press time. This article will be updated accordingly should a response come in.  "Adjusted by its volatili
VC calls Ethereum killers ‘toothless’ based on token allocation to insiders

VC calls Ethereum killers ‘toothless’ based on token allocation to insiders

BITCOIN
Please share if you find this article interesting. VC calls Ethereum killers 'toothless' based on token allocation to insiders Mythos Capital founder Ryan Sean Adams called Ethereum killers “toothless” based on initial token allocation schemes that often prioritize insiders: Source: Twitter.Adams was referring to a recent Messari report, which summarized the token distribution for some of the most popular Ethereum (ETH) alternatives launched in the last couple of years. There are four main distribution categories: public presale, community allocations, insiders, and each project's respective foundations. Source: Messari.The report's authors suggest that the proportion of tokens allocated to insiders (which includes team, company and VCs) is crucial when assessing projects, “proje
New Siberian Bitcoin mining center set to provide 100 jobs to locals

New Siberian Bitcoin mining center set to provide 100 jobs to locals

BITCOIN
Please share if you find this article interesting. New Siberian Bitcoin mining center set to provide 100 jobs to locals The governor of the Republic of Buryatia, Russia signed a decree allowing for the construction of a 13.6 acre data center in Southeastern Siberia. The facility will become home to a number of hi-tech activities, including a Bitcoin (BTC) mining operation. The facility will be built by BitRiver and is expected to create up to 100 local jobs. It will be equipped with the latest generation of ASIC miners and will take about a year to complete. In addition to cryptocurrency mining, the facility will be used for Big Data and the Internet of Things. The required investment is estimated at 691 million rubles or $0.9 million, to be provided by investors from the U.S.A.,
BoE hasn’t ‘made any decision’ regarding a CBDC, says fintech director

BoE hasn’t ‘made any decision’ regarding a CBDC, says fintech director

BITCOIN
Please share if you find this article interesting. BoE hasn't 'made any decision' regarding a CBDC, says fintech director At the 2nd Bund Summit held on Oct. 25, Bank of England fintech director Tom Mutton stated that while a central bank digital currency, or CBDC, was “a focus” for the Bank of England, the position the bank had taken this past March hadn’t changed.  “We haven’t made any decision on whether or not to launch a retail CBDC,” said Mutton. “But we are exploring the pros and cons with interest.” Specifically, the BoE exec stated the central bank was looking into payment options for people in the U.K. who were affected by the COVID crisis “to deliver safe, efficient and convenient payments to shoppers and merchants” — a role that a CBDC could potentially fill. He added
Bitcoin investing interest up 19% compared to 2019, Grayscale report says

Bitcoin investing interest up 19% compared to 2019, Grayscale report says

BITCOIN
Please share if you find this article interesting. Bitcoin investing interest up 19% compared to 2019, Grayscale report says Crypto investing firm Grayscale recently released its 2020 Bitcoin Investor Study. The report used data from a survey which digitally polled a sizable number of individuals in the U.S. between June and July. Grayscale found the majority of the surveyed people were keen on buying Bitcoin (BTC). "In 2020, more than half (55%) of survey respondents expressed interest in Bitcoin investment products," Grayscale wrote in its October 2020 report. "This marks a significant increase from the 36% of investors who said they were interested in 2019." The numbers in Grayscale's report come from data compiled by research company 8 Acre Perspective. The firm asked 1,000 U
Cuban freedom fighters launch underground Bitcoin remittance network

Cuban freedom fighters launch underground Bitcoin remittance network

BITCOIN
Please share if you find this article interesting. Cuban freedom fighters launch underground Bitcoin remittance network Cubans are finding new ways to circumvent the embargo sanctions imposed by the U.S. government back in 1962. According to an October 26 report by Cuba's AFP news agency, remittances sent from the U.S. to Cuba often pass through a clandestine network of "crypto enthusiasts" before being converted into Cuban pesos. Erich García, a 33-year-old programmer and local YouTuber, told AFP that anyone who wants to send remittances to the island must buy Bitcoin and send it through a Cuban crypto exchange called BitRemesas. Crypto users on the island then bid to offer recipients the best price for their coins via WhatsApp or Telegram. On average, a middleman from the netwo