China Shuts Down Software Maker Over Suspected Crypto-Related Activity, Issues Industry-Wide Warning – Regulation Bitcoin News


Bitcoin News 06 July, 2021 - 10:07pm 17 views

When is London hard fork?

Ethereum's long-awaited London hard fork is likely to launch on Aug. 4 between 13:00 UTC (9 a.m. ET) and 17:00 UTC, with block 12,965,000. Many Ethereum enthusiasts are excited for the delayed release, while some are watching on with “cautious optimism.” Yahoo FinanceEthereum’s London Hard Fork Expected to Launch on Aug. 4

Ethereum Has Already Surpassed Bitcoin Based On Dollar Holdings: Celsius CEO Alex Mashinsky - Benzinga

Benzinga 07 July, 2021 - 11:37am

Alex Mashinsky, CEO of crypto lending platform Celsius Network, believes that the scenario the crypto community referes to as “the flippening,” where Ethereum (CRYPTO: ETH) surpasses Bitcoin (CRYPTO: BTC) to become the leading cryptocurrency, is already taking place.

What Happened: In an interview with Kitco News, Mashinsky said that Ethereum has already overtaken Bitcoin based on the dollar value of holdings in Celsius’s network of over a million users.

“So, Ethereum just surpassed Bitcoin in the last month or two, the first time ever our million users have [Ethereum than Bitcoin]. We manage about $17 billion in deposits or customer coins, and the number one coin held in dollar terms is Ethereum," said Mashinsky.

Why It Matters: The Celsius CEO noted that while Ethereum already surpassed Bitcoin in dollar terms based on the total holding of the Celsius community, this trend might extend to the broader market in the next year or two.

“I take a look at the Celsius figures and listen to what the Hodler community at Celsius is telling me every day,” he said.

Read also: 'Elon Musk Is A Tourist In Crypto,' Says Celsius CEO Alex Mashinsky Who Predicts $160K BTC By Year End

Last week, Mashinsky commented on how Tesla Inc (NASDAQ:TSLA) CEO Elon Musk’s tweets adversely affected cryptocurrency prices, calling him “a tourist in the crypto space.”

Price Action: At press time, Bitcoin was trading at $34,237, down 0.24% over the past 24-hours.

Ethereum, the leading altcoin, was up by just 0.07% overnight, trading at $2,279 at the time of writing.

Click here, or sign up for our newsletter to explore more of Benzinga's Cryptocurrency market coverage, in-depth coin analysis, data, and reporting.

© 2021 Benzinga does not provide investment advice. All rights reserved.

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How do you mine Bitcoin?

Yahoo Finance Australia 07 July, 2021 - 11:37am

And depending on the day, it could be a lot more lucrative: at the time of writing (6 July 2021) one Bitcoin was worth $45,149. One ounce of gold is worth around $2,387.

While Bitcoin might be worth more than gold, it’s also a lot more expensive to mine - about four times more.

According to the chief operating officer of Mawson Infrastructure Group - Australia’s largest Bitcoin mining operation, which is actually situated in the US - Liam Wilson, crypto mining involves using supercomputers to provide security to the crypto network.

“By providing security to the network, we are rewarded with Bitcoin,” Wilson told Yahoo Finance correspondent Jason Dundas. “That’s how Bitcoin comes into circulation.”

For reference, there are only 21 million Bitcoins in the world. Nearly 19 of them are in circulation, meaning there are less than three million of them yet to be ‘mined’.

You can think of Bitcoin mining like auditing.

When verified, every Bitcoin transaction, or block, is grouped together to form a chain: a blockchain.

So, the blockchain is like a full transaction history of Bitcoin that dates all the way back to when the first Bitcoin was mined in 2009.

In return for verifying the transaction, miners are rewarded with Bitcoin.

You can’t use your everyday Apple Mac to have a successful Bitcoin mining operation.

“The first thing you need is power, so you need access to an abundance of power,” Wilson said.

“We then go and purchase the miners… chock the container full of miners, turn the power on and begin solving something called the SHA-256, which is the algorithm and then we’re rewarded in Bitcoin.”

And these containers are really hot - and loud.

“They run it between 70 and 85 degrees celsius, and they push out the hot air.”

Just like every human has a unique fingerprint, digital blocks have the same thing: the SHA-256 algorithm.

To solve the algorithm, miners need to cycle through every single possible combination until they find a result that matches the hash.

That code is then used as an identifier for the block, which stops it from being tampered with in the future.

But to do this, these computers need a ton of energy. Literally.

Studies have found crypto mining can produce 3 to 15 million tons of global carbon emissions per year.

And this isn’t good news for the environment.

Not every Bitcoin miner gets Bitcoin in return for verifying transactions. In fact, you need to be the first miner to arrive at the right - or the closest - answer to be rewarded with Bitcoins.

World Health Organization emergencies head Michael Ryan urged countries on Wednesday to use extreme caution when lifting COVID-19 restrictions so as "not to lose the gains you've made". Ryan's comments come as England, hosting Europe's soccer championships, prepares to end many COVID-19 restrictions on July 19, European countries ease travel curbs and Indian states relax their lockdowns, despite accelerating infections with the Delta variant worldwide. "The idea that everyone is protected, and it's 'Kumbaya' and everything goes back to normal, I think right now is a very dangerous assumption anywhere in the world, and it's still a dangerous assumption in the European environment," he told reporters during a meeting from Geneva.

MINNEAPOLIS, July 07, 2021--Piper Sandler’s Special District Group Grows Utah Team With Addition of Benj Becker

Don't read too much into the monthly gain, the stock is now stuck in a downtrend. But that's just par for the course lately.

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Novak Djokovic brought up his century of wins on grass on tour to book his place in a 10thWimbledon semi-final on Wednesday. In a career already laden with numbers, it is his 41st time in the last four of a Grand Slam, his 315th win at a Slam and, most crucially, ensured he remains on for that record-equalling 20th Slam. It was not quite vintage Djokovic against Marton Fucsovics – he racked up 30 unforced errors – nor did it need to be for a 6-3 6-4 6-4 victory.

Iranian President Hassan Rouhani apologised Wednesday for sweeping blackouts, blaming a searing drought he said had sharply driven up demand and virtually halted hydroelectric power generation.

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Abstract: - Global Premium Deodorants Market to Reach $14. 6 Billion by 2027. - Amid the COVID-19 crisis, the global market for Premium Deodorants estimated at US$11. 3 Billion in the year 2020, is projected to reach a revised size of US$14.New York, July 07, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Global Premium Deodorants Industry" - 6 Billion by 2027, growing at a CAGR of 3.8% over the period 2020-20

SEATTLE, July 07, 2021--Vouched today announced the achievement of two key ISO/IEC certifications that extend its leadership in the rapidly emerging digital identity verification industry by demonstrating globally accepted best practices for data security and privacy management.

RESTON, Va., July 07, 2021--Intact Technology, an IT Software Consulting and Managed Services firm, announced today that CRN®, a brand of The Channel Company, has named Intact, for the eighth time, to its 2021 Solution Provider 500 list. CRN announces its top 500 solution providers list each year, ranking the leading IT channel partner organizations across North America by revenue.

(Bloomberg) -- Gold headed for a sixth straight gain as Treasury yields fell ahead of the release of Federal Reserve meeting minutes that may bring fresh insight on U.S. monetary policy.The yield on 10-year Treasuries slipped to a more than four-month low, aiding non-interest-bearing bullion.Gold has had a volatile year, notching its steepest drop last month since 2016 amid signs of a hawkish shift by the Fed. Since then, there have been tentative signs of a rebound, aided by softer inflation-ad

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Former U.S. President Donald Trump on Wednesday said he was filing lawsuits against Twitter Inc, Facebook Inc, and Alphabet Inc's Google , as well as their chief executives, alleging they silence conservative viewpoints. Trump said he filed the lawsuits in federal court in Florida. Trump lost his social media megaphone earlier this year after repeatedly falsely claiming that his election defeat was the result of widespread fraud -- an assertion that was rejected by multiple courts, state election officials and members of his own administration.

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