Another province in China has taken a stand against Bitcoin mining operations in the region as the Chinese government intensifies efforts to wean the nation of cryptocurrency activities. Over the weekend, Yunnan provincial authorities disbursed a memo ordering an investigation into the illegal use of electricity by individuals and companies in Bitcoin mining. The China […]
The long-awaited Bitcoin Mining Council (BMC) announced on June 12 that it is now live. The BMC launched its website detailing its members and its mission statement. The organization also detailed its plans on how it would tackle the ever-growing worries of Bitcoin energy consumption. To achieve this, individual members of the organization have to […]
Bitcoin is on the verge of making history with its impending Taproot update, an event as highly-anticipated as SegWit or the last halving. Arguably the benchmark cryptocurrency’s most ambitious update since 2017, Taproot has gained approval by miners and was locked in for implementation later in November. Due to its heavily decentralized nature, any update […]
President of El Salvador Nayib Bukele recently revealed that the country is exploring ways to mine Bitcoin using energy from its volcanoes. The charismatic leader announced via Twitter on Wednesday, noting that: “I’ve just instructed the president of La Geo (our state-owned geothermal electric company) to put up a plan to offer facilities for bitcoin […]
The Chinese government’s efforts to crack down on Bitcoin and cryptocurrency mining across its provinces appear to be at full force. This crackdown began with Inner Mongolia, following the revelation of new rules against the operation of Bitcoin mining facilities in the region. Reports on the government’s plans to shut down mining operations in Inner […]
The El Salvadoran Congress has just approved a bill to make Bitcoin a legal tender in the country. Reports show that the Bill got a “supermajority” vote, indicating how excited most of the country is regarding the new development. The Bill noted that: “The purpose of this law is to regulate bitcoin as unrestricted legal […]
According to a recent report by Bloomberg, Chief Investment Officer of Skybridge Capital Troy Gayeski noted that Bitcoin (BTC) still has more upside potential than gold. He added that while he expects both assets to rally over the long term despite the Fed’s move to taper asset purchases, his hedge fund will stick with Bitcoin. […]
The President of El Salvador, Nayib Bukele, has announced his administration’s plans to make Bitcoin (BTC) a legal tender in the country. President Bukele announced at the ongoing Bitcoin 2021 Conference in Miami. The president noted that he would forward a bill to this effect to Congress next week. That said, if approved, El Salvador […]
To tackle the ever-growing problem of ransomware attacks in the US, the Biden administration plans to enhance cryptocurrency tracking measures, according to Deputy Press Secretary Karine Jean-Pierre. This announcement comes amid several hacks on US-based companies. Ransomware attacks involve the infiltration of individuals or organizations to encrypt sensitive information. With that, these attackers render the […]
