Archive for Juni 2021
Kazakhstan Introduces Surcharge for Electricity Used by Crypto Miners

Kazakhstan Introduces Surcharge for Electricity Used by Crypto Miners

23.05 Add Comment
Kazakhstan Introduces Surcharge for Electricity Used by Crypto Miners

Cryptocurrency miners in Kazakhstan will pay more than other consumers for the electricity they use to mint digital coins. The country’s president has signed a law that imposes an additional fee for the power utilized by the energy intensive industry.

Coin Miners in Kazakhstan to Pay Extra Fee per Kilowatt-hour of Electricity

Crypto mining entities in Kazakhstan are going to pay a surcharge for the electrical energy they burn. President Kassym-Jomart Tokayev has signed a new law this week amending the Central Asian republic’s legislation “on taxes and other obligatory payments to the budget.”

The bill, which was voted by the Senate earlier in June, introduces a new fee of 1 Kazakhstani tenge (approx. $0.0023) per kilowatt-hour used by cryptocurrency miners. The new electricity rate will be imposed starting from Jan. 1, 2022, Forklog reported.

Authorities in Nur-Sultan claim the additional charge will “bring out of the shadow” those cryptocurrency miners that currently operate in the gray economy. Albert Rau, the lawmaker named by local media as the author of the bill, said he couldn’t foresee any “critical consequences” from its adoption. Rau insists the parliament has approved a “government version” of the initially proposed amendments.

Crypto Industry Fears New Electricity Rate Will Turn Chinese Miners Away

Representatives of the crypto sector disagree with Rau’s position, warning that the move comes at a very inappropriate moment. Members of Kazakhstan’s National Association of Blockchain and Data Center Industry told the crypto news outlet that the decision “will have a very negative impact on the investment attractiveness of the industry.”

The main concern is that the fee could turn away Chinese companies that have been looking around for other jurisdictions amid the ongoing crackdown on cryptocurrency mining in the People’s Republic. Kazakhstan has been considered among other potential mining destinations, as over the past few years the country has gradually warmed towards the crypto industry.

In May, Shenzhen-based Bit Mining announced it’s planning to build a 100 MW mining data center in Kazakhstan in partnership with two local firms. In June, as Chinese authorities intensified the pressure on bitcoin mining operations, the company started shipping mining devices there. Earlier this month, the Hangzhou-headquartered mining hardware manufacturer Canaan established an after-sales service center in Kazakhstan as more Chinese miners are considering relocation to Central Asia.

What effect do you think the new fee will have on the crypto mining industry in Kazakhstan? Share your thoughts on the subject in the comments section below.



source https://news.bitcoin.com/kazakhstan-introduces-surcharge-for-electricity-used-by-crypto-miners/
Warning: Nearing daily limit of 24 Blogger posts

Warning: Nearing daily limit of 24 Blogger posts

22.08 Add Comment

Hi cookinjozz,

IFTTT has a daily limit of 24 Blogger posts. You have created 19 Blogger posts so far this day. When the daily limit is reached, everything that create Blogger posts will be paused until Thursday, July 01, 2021.

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Ventup, the IDO Launchpad by Vent, Connects Game-Changers With Investors

Ventup, the IDO Launchpad by Vent, Connects Game-Changers With Investors

22.08 Add Comment

Vent is excited to announce the launch of their IDO on the Ventup platform, nurtured by Vent Finance. This innovative community-driven platform promises to usher in a new era of decentralized funding for vetted projects and help empower entrepreneurs on their journey to success.

Vent – Welcome to the All-in-One Ecosystem

Vent has announced it is launching the Ventup IDO Launchpad on Polygon to provide startups that launch on the platform with scalability, modular security solutions and compatibility with Ethereum tools. Vent will also construct the first Polygon-Cardano bridge and plans to migrate Ventup to the Cardano blockchain upon the rollout of the Alonzo smart-contract mainnet.

Ventup offers easier access to DeFi investment opportunities for everyone, with powerful features such as a social community, vetted investment opportunities and low transaction fees. The launchpad is also a critical part of the larger Vent ecosystem that provides new projects with an all-in-one solution, from token launch all the way to swapping. The ecosystem also includes VentSwap – a decentralized exchange enabling token holders to trade tokens in an easy, cheap and fast way – and VentCommerce – a marketplace where project can engage with top service providers through the simplicity of a token.

What Makes Ventup Stand Out

There are a number of factors that make Ventup stand out from the cowed of current launchpads, such as its focus on simplicity, security, transparency, and inclusiveness. Above all else, is its unique centralized – decentralized finance (CeDeFi) model – aiming to combine the best of both worlds, the security of a centralized platform and the great investment opportunities of a DeFi platform.

To prevent the current situation going on other platforms – that are full of meaningless hype, scams and fraud – Ventup will only empower vetted and high quality projects. For example every new project launching on the launchpad will be security audited. And the majority of the vetting will be done by the community of investors.

Users can upvote, comment and be active in forums and the community will decide if a project is eligible for IDO or not. Only when a project reaches a threshold of upvotes it will be able to apply for its token launch. The project will then be analyzed by the Vent team to recognize whether or not the project matches the Vent Quality standards before it can launch its tokens and users can transact.

Providing additional safety, Bridge Mutual will provide insurance on smart contracts to protect investors from potential rug pulls. To be eligible to invest into a project, every user needs to pass KYC, but unlike current solutions, Ventup simply requires the process to be completed once.

To learn more information on Ventup visit the platform’s website, and join the community on Twitter and Telegram.

Vent Finance has announced that the registration for the Vent IDO on the VentUp Launchpad will open on Wednesday, July 7, 2021. See full details on how to apply for the whitelist here.

This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.



source https://news.bitcoin.com/ventup-the-ido-launchpad-by-vent-connects-game-changers-with-investors/
As the Top Coins Lag Behind, an Odd Bunch of Crypto Assets See Double-Digit Gains

As the Top Coins Lag Behind, an Odd Bunch of Crypto Assets See Double-Digit Gains

21.06 Add Comment

The market capitalization of all 10,722 cryptocurrencies in existence is around $1.42 trillion on Wednesday and during the last 24 hours, all of these crypto-assets combined lost 3.92%. Meanwhile, bitcoin captures 45.73% of the entire $1.42 trillion capitalization and ethereum commands 17.8%. As both of these leading assets have improved this week, seven-day changes against the U.S. dollar show a great number of other crypto-assets have seen much bigger double-digit gains.

Steemit Coins, 51% Attacked Tokens, and Forgotten Crypto Assets

An interesting assortment of crypto assets have seen double-digit gains as larger competitors like bitcoin (BTC) and ethereum (ETH) have seen weaker improvements. For instance, BTC has gained 2.74% against the U.S. dollar during the last seven days.

ETH has jumped close to 10%, but not quite, with an 8.89% rise over the last week. While they are at the very least weekly improvements against the dollar, a number of unconventional crypto assets have jumped much higher.

As the Top Coins Lag Behind, an Odd Bunch of Crypto Assets See Double-Digit Gains
STEEM/USD (left) and REP/USD (right) on June 30, 2021. Charts show a five-day span

Steem (STEEM) has gained 54% this week and the crypto asset’s cousin steem dollars (SBD) spiked over 31% during the last seven days. The two digital currencies are leveraged for upvoting and tips on the Steemit blogging platform.

Below, steem’s 54% rise, the prediction market crypto-asset augur (REP) jumped 51%. REP tokens are used in the Augur system to give users the ability to create a prediction market on any topic. Another unconventional rise this week was monero classic’s (XMC) 45% jump. XMC is a fork of the privacy coin monero (XMR).

As the Top Coins Lag Behind, an Odd Bunch of Crypto Assets See Double-Digit Gains
XMC/USD (left) and FTC/USD (right) on June 30, 2021. Charts show a five-day span.

Then crypto assets that have seen 51% attacks, also saw double-digit gains this week. For example, below XMC’s rise, the digital currency vertcoin (VTC) rose 40% during the last seven days. And the coin below VTC, which has also been 51% attacked, is bitcoin gold (BTG) rising 38% this week.

Seven-day changes against the U.S. dollar also show the 51% attacked ethereum classic (ETC) saw a 31% rise during the trailing seven-day week. Interestingly, a forgotten digital currency launched on April 16, 2013, feathercoin (FTC) has gained 29% this week.

FTC is an ancient coin that used to be a top ten crypto market cap contender, but today feathercoin holds the 100th position. Market aggregators also show that Vinny Lingham’s civic (CVC) token has jumped 26% over seven days.

The newer meme-based ERC20 token, that shares the concept of dogecoin (DOGE), shiba inu (SHIB) rose 22% during the course of the week. While seven-day gains have been higher for these crypto coins, 24-hour statistics have been different. For example, ETC is down -1.57% on Monday, VTC -4.12%, and FTC is down -8.29%.

What do you think about the double-digit gains seen by this unique bunch of crypto assets? Let us know what you think about this subject in the comments section below.



source https://news.bitcoin.com/as-the-top-coins-lag-behind-an-odd-bunch-of-crypto-assets-see-double-digit-gains/
Fed Vice Chair Quarles Says Digital Dollar Could Pose Significant Risks to US Banking System

Fed Vice Chair Quarles Says Digital Dollar Could Pose Significant Risks to US Banking System

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Fed Vice Chair Quarles Says Digital Dollar Could Pose Significant Risks to US Banking System

The Federal Reserve’s vice chairman of supervision and the chair of the Financial Stability Board (FSB), Randal K. Quarles, doubts the benefits of the digital dollar but says it “could pose significant and concrete risks” to the U.S. banking system.

Fed Vice Chair Speptical About Digital Dollar

Federal Reserve Vice Chair of Supervision Randal Quarles talked about bitcoin and the Fed’s work on a central bank digital currency (CBDC), the digital dollar, in a speech at the Utah Bankers Association Monday. Quarles is also the chairman of the Financial Stability Board (FSB). He said:

The potential benefits of a Federal Reserve CBDC are unclear. Conversely, a Federal Reserve CBDC could pose significant and concrete risks.

He then outlined the risks. “First, a Federal Reserve CBDC could create considerable challenges for the structure of our banking system … An arrangement where the Federal Reserve replaces commercial banks as the dominant provider of money to the general public could constrict the availability of credit, fundamentally alter the economy, and expose the public to a host of unanticipated, and undesirable, consequences.”

Quarles further added that “a dominant CBDC could undermine the consumer and other economic benefits that accrue when commercial banks compete to attract customers” and “A Federal Reserve CBDC could also present an appealing target for cyberattacks and other security threats.”

Quarles doesn’t believe there is any real threat against the U.S. dollar. Talking about threats, he said, “Gold will always glitter, but novelty, by definition, fades.” Noting that he sees little threat from cryptocurrencies like bitcoin, the Federal Reserve’s vice chairman of supervision described:

Bitcoin and its ilk will, accordingly, almost certainly remain a risky and speculative investment rather than a revolutionary means of payment, and they are therefore highly unlikely to affect the role of the U.S. dollar or require a response with a CBDC.

In conclusion, Quarles said “the U.S. dollar payment system is very good, and it is getting better,” emphasizing that “the potential benefits of a Federal Reserve CBDC are unclear” and “developing a CBDC could, I believe, pose considerable risks.”

What do you think about the comments by Quarles? Let us know in the comments section below.



source https://news.bitcoin.com/fed-vice-chair-quarles-digital-dollar-significant-risks-to-us-banking-system/
US Congressman Calls for Law Allowing Government to Reverse Cryptocurrency Transactions

US Congressman Calls for Law Allowing Government to Reverse Cryptocurrency Transactions

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US Lawmaker Calls for Law Allowing Government to Reverse Cryptocurrency Transactions

A U.S. congressman has called for a law that allows the government to identify cryptocurrency users and reverse crypto transactions. “There’s a significant sentiment, increasing sentiment, in Congress that if you’re participating in an anonymous crypto transaction that you’re a de-facto participant in a criminal conspiracy,” he said.

Rep. Bill Foster Stresses the Need for Law to Allow the Government to Reverse Crypto Transactions

Democratic Rep. Bill Foster of Illinois, who is also co-chair of the Congressional Blockchain Caucus, talked about cryptocurrency regulation during an Axios virtual event Tuesday. Addressing the problem of ransomware attacks and how criminals are asking for bitcoin and not cash, the congressman stressed that “there is a fundamental difference between crypto assets and real-world assets. That’s an important distinction that we must make ultimately in the law.”

Emphasizing that laws must be passed to allow federal courts to identify crypto users and reverse transactions in bitcoin or other cryptocurrencies, he said:

You have to be able to go to a court to unmask participants under some circumstances.

He discussed “The condition under which we can reclaim” cryptocurrencies, such as ransoms paid to criminals, noting that it is one of the fundamental decisions which has to be made about crypto assets.

The congressman pointed out that the law needs to address whether cryptocurrency is “truly anonymous or is there a court you can go to, to unmask the participants.” In addition, “is there a court, a third-party, that you can go to, to reverse fraudulent or mistaken transactions.”

Foster gave an example. “If someone dragged you into an alley and put a gun to your head and say get out your cell phone and transfer all your bitcoin to my wallet. Are you just out of luck or can you go to court, have them unmask the participant.” Furthermore, “can the court — if they decide that the transaction was fraudulent, criminal, or mistaken … use its access to very heavily guarded key, cryptographic back door, in a sense, that allows them to cryptographically reverse transactions on a blockchain.”

The lawmaker claims that such tools are necessary for the government to protect itself, the people and companies from ransomware attacks, like the one suffered by Colonial Pipeline.

Rep. Foster opined:

I’ve just said about three things there that will drive the crypto purists berserk, like the trusted third party and so on.

He believes that “For most people, if they are going to have a big part of their net worth tied up in crypto assets, they are going to want to have that security blanket of a trusted third-party that can solve the problem when they get hacked, when they get stolen or even just a mistaken assumption.”

Foster further said that cryptocurrencies must become compliant with federal regulations and laws for them to ever become mainstream instruments for conducting transactions. Replying to a question about how the U.S. would regulate cryptocurrencies given their global and borderless nature, he affirmed, “We’re going to have to establish a law between the legal and illegal regimes here,” elaborating:

There’s a significant sentiment, increasing sentiment, in Congress that if you’re participating in an anonymous crypto transaction that you’re a de-facto participant in a criminal conspiracy.

Many people took to social media to ridicule the congressman and his attempt to reverse bitcoin transactions, stating that he does not understand how bitcoin works. Some responded to Foster’s criminal allegation, stating that they are “not de-facto criminals.”

What do you think about Rep. Foster calling for legislation to give the government power to reverse cryptocurrency transactions? Let us know in the comments section below.



source https://news.bitcoin.com/us-congressman-law-allowing-government-to-reverse-cryptocurrency-transactions/
Coinbase to Launch Apple-Like Crypto App Store

Coinbase to Launch Apple-Like Crypto App Store

15.05 Add Comment
Coinbase to Launch Apple-Like Crypto App Store

Cryptocurrency exchange Coinbase has unveiled its plan to build “the crypto app store,” inspired by how Apple Inc. built its app store. CEO Brian Armstrong said: “Apple didn’t attempt to build every app for the iPhone, it empowered developers and gave mobile users an easy way to access new innovative apps.”

  • In a blog post published on Tuesday, Coinbase CEO Brian Armstrong detailed several opportunities in the crypto space the Nasdaq-listed company is pursuing. One of them was to “Build the crypto app store.”
  • The CEO detailed, “Like the internet, or the mobile app stores, we’re seeing developers rush into the space to use these new tools to develop innovative use cases that we couldn’t have imagined before,” adding:

Apple didn’t attempt to build every app for the iPhone, it empowered developers and gave mobile users an easy way to access new innovative apps … We’ll work to give our users easy access to all of this from the main Coinbase product.

  • Armstrong stressed: “We need to do the same [as Apple] in crypto. There is now 10s of billions of dollars of economic activity running on Dapps, and a new trend coming out every three months.”
  • He further shared:

Soon any app built on decentralized crypto rails will be accessible to users of the Coinbase app … In the future you will have the option to do self-custody of your crypto, right in the main Coinbase app.

What do you think about Coinbase launching an Apple-like app store? Let us know in the comments section below.



source https://news.bitcoin.com/coinbase-launch-apple-like-crypto-app-store/
HousingWire acquires Reverse Mortgage Daily

HousingWire acquires Reverse Mortgage Daily

14.14 Add Comment
Yesterday, the CFPB released a 200-page final rule outlining their guidance to servicers on how they should treat borrowers in forbearance.
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