You made it! :) First up, SORRY! This has been a late post, I have my reasons don't question them (if you must know I'll be posting in the discord - one time only haha). Secondly, I am sure you can agree with me when I say "Wow!" What an incredible week it has been. Last week I thought it was going to take a couple more weeks for more moving price action when it had only taken a few days which has seen Bitcoin reach and pass the $10,000 region. We have also seen the total Market cap for cryptocurrencies increase from about 280B to over 300B (308B at time of writing) within just a few days. A huge injection of liquidity, about 40B, into the market and just to name a few of the best rises in the top 20 (on Coinmarketcap.com), the price of ETH BTC ADA have given good performances/positive responses (With this I will start adding screenshots at the end of each week for timestamp purposes). This may be a combination from Binance, Mastercard, Paypal, Grayscale investments, VISA AND the DEFI sector. Let me explain... Last week we read about Binance integrating with the company Swipe (SXP) to issue there own debit card expanding the use and reach of cryptocurrency to 31 countries within Europe. Binance's Q2 scheduled token burn of $60.5 Million, this figure correlates with its exchange, margin and futures trading platforms where approximately 20% of profits get burned to increase the price of BNB token (careful as the price has been steady after the burn). This week we find out Mastercard's expansion into the Cryptosphere as they expand and integrate with the Wirex team to issue a Mastercard-backed Bitcoin debit card, thus further extending the reach of cryptocurrency availability internationally. "The cryptocurrency market continues to mature and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today’s digital economy " "...Our work with Wirex and the wider crypto ecosystem is accelerating innovation and empowering consumers with more choice in the way they pay" Mastercard is also reaching out to other emerging cryptocurrency firms to apply to become principal members [Partners] with Mastercard as they have relaxed their digital assets program and look to expand into the Digital Assets and Blockchain environment. Paypals expression of interest in cryptocurrency facilitiation may bear fruits as it is said Paypal has partnered up with stablecoin operator Paxos (who is already in partnership with Revolut in the US) to facilitate trading through a cryptocurrency brokerage which will enable other firms to integrate cryptocurrency trading functionalities with them. In my opinion this looks much more promising than the Libra association they pulled out from last October as regulations. Grayscale Investments clears regulatory hurdle as they have been given the green light for its Bitcoin Cash Trust (BCHG) and Litecoin Trust (LTCN) to be quoted in over-the-counter (OTC) markets by US Financial Industry Regulatory Authority (FINRA). “The Trusts are open-ended trusts sponsored by Grayscale and are intended to enable exposure to the price movement of the Trusts’ underlying assets through a traditional investment vehicle, avoiding the challenges of buying, storing, and safekeeping digital Bitcoin Cash or Litecoin directly.” More green lights for Cryptocurrency in the US as regulators allow banks to provide cryptocurrency custody services (which may go further than just custody services). A little bit strange as it seems unnecessary and undermines one of the key factors and uses of cryptocurrency which is to be in complete control of your own finances... On another outlook this may be bullish as it allows US banks to provide banking services directly to lawful cryptocurrency businesses and show support for Bitcoin. Visa shows support stating they have a roadmap for their further expansion into the Crypto sphere. Already working with Crypto platform Coinbase and Fold they have stated they recognise the role of digital assets in the future of money. To be frank, it appears to be focused on stable coins, cost effectiveness and transaction speeds. However they are expanding their support for crypto assets. AND MOST IMPORTANTLY, DeFI! Our very own growing section in crypto. Just like the 2017 ICO boom we are seeing exorbitant growth and FOMO into the Decentralised Finance sector (WBTC, Stablecoins, Yield farming, DEXs etc). The amount of active addresses on Ethereum has doubled but with the FOMO on their network have sky rocketed their fees! Large use-cases of stable coins such as USDT ($6B in circulation using ERC-20 standard), DAI, TUSD, and PAX. $114M Wrapped Bitcoin (WBTC) on their network acts as a fluid side chain for Bitcoin and DEX trade volume has touched $1.6B this month. With all this action happening on Ethereum I saw the 24HR volume surpass BTC briefly on Worldcoinindex.com In other news, Bitcoin has been set as a new precedent in a US federal court in a case against Larry Dean Harmon, the operator of an underground trading platform Helix. Bitcoin has now legally been ruled as a form of money. “After examination of the relevant statutes, case law, and other sources, the Court concludes that bitcoin is money under the MTA and that Helix, as described in the indictment, was an `unlicensed money transmitting business´ under applicable federal law.” Quick news in China/Asia as floods threaten miners and the most dominant ASIC Bitcoin mining rig manufacturer Bitmain loses 10,000 Antminers worth millions alledgedly goes missing or "illegally transfered" with ongoing leadership dispute between cofounders. Last but not least, Cardano (ADA) upgrade Shelley is ready to launch! Hardfork is initiated as final countdown clock is switched on. At time of writing the point of no return has been reached, stress tests done and confirmation Hardfork is coming 29/07 The Shelley Mainnet upgrade is a step toward fast, capable and decentralised crypto that can serve billions of people. With the Shelley Mainnet is ADA staking rewards and pools! Here is a chance for us Gravychainers to set up a small pool of our own. Small percentage of profits going into the development of the community, and you keep the rest! If you read all of my ramblings thanks heaps! I appreciate it! I have added an extra piece of reading called speculation. Most you can speculate on by just reading the headline some others have more depth to them. Another post next week for a weekly round up! Where do you think the market is going? What is in your portfolio? Let us know in the Gravychain Discord Channel See you soon!
🍕 Bring some virtual pizza to share 🍕 Come have a chat, stimulate a discussion, ask a question or share some knowledge. We are all friendly crypto enthusiasts up for a chat, supportive and want to help each other with knowledge and investments! Big thanks to our Telegram and My Crypto HQ for the constant news updates!
P.S. Dr Seuss collectables on the blockchain HECK YEAH! and Bitcoin enters NASCAR, remember when Doge did this? it was like when Doge was trending on TikTok. ... Oh yeah did I also mention Steve Wozniak is suing Youtube, Google over rampant Bitcoin scams. Wait, what? Sydney based law firm JPB Liberty is suing Google, Facebook and Twitter for up to $300B. Just another day in the Cryptosphere.
Thinking of investing in Bitcoin mining? This article will outline some things you need to know about this industry. We categorize all assets that produce hashpower in exchange for cryptocurrency… Much higher than most small to medium size GPU mining farms would be running. Price & Profitability. The Antminer Z9 is currently in stock and priced at a moderate $3319 with an estimated shipping date of September 1-10. Making it the most profitable ASIC. The estimated daily earnings stand at $78/day (depending future cryptocurrency pricing, difficulty change). Whilst the electricity cost is ... Bitcoin (BTC) is up more than 25% from the August local low around US$5,800, but remains down 63% from the record high in December. The market cap stands at US$126.86 billion, with US$2.43 billion ... Overview of the world of Bitcoin mining 1.1 Bitcoin’s ASIC dominance. Since its genesis block, Bitcoin mining activities have first pivoted from CPUs to GPUs; since 2014, BTC has been mostly mined by Application-Specific Integrated Circuits (ASICs). Chart 1 - Mining difficulty of Bitcoin (BTC) (log scale) Sources: Binance Research, Coin Metrics. As illustrated by chart 1, the mining ... The December 2019 report on the Bitcoin mining network from CoinShares Research, a division of the digital asset management firm, presented an industry in good health at the end of the year, with a hash rate that had almost doubled in the previous six months, a new generation of more powerful and efficient technology on the market and the continued use of sustainable, renewable energy. Currently, the largest mining manufacturers in China are actively improving production capacity and introducing new ASIC hardware, with better energy efficiency ratios. Miners are also looking for new mining farms, and old and new companies within the Bitcoin mining space are looking for new opportunities. Bitmain have announced that they are now taking preorders for their new miner – the Antminer V9. It is a small SHA256 miner that should output 4TH/s with a power consumption of 1000W. What to Expect from the New Antminer V9 – Profitability and Trustworthiness Review
The ugly truth about owning a Bitcoin mining farm!
In this episode of crypto clout our friend faze crypto talks about Binance is a cryptocurrency exchange and the possibility of seeing #Binance the cryptocurrency exchange adding the Mobil Mining ... Today we investigate some simple economics of blockchain regarding mining difficulty and hashrate and the profitability of mining using various ASICs on three blockchains. Im heutigen Video erkläre ich euch, warum ein ASIC Miner wie der Antminer S9 von Bitmain nur eingeschränkt profitabel ist und sich nur mit sehr niedrigen Stromkosten lohnen würde. Vorher gehe ... *update: I've started trading crypto on Binance(http://bit.ly/BiNANCE) and it's amazing! It's opened up a whole new world. Two weeks ago I deposited $1k and ... Cryptocurrency Weekly Mining Profitability June 2019 - Winner Announced Subscribe for more awesome videos and a chance at Free Bitcoin! http://bit.ly/subscri... mining profitability 2019, gpu mining 2019, bitcoin mining 2019, profitability, mining 2019, crypto, gpu mining farm, best mining rig, btc, proof of work, 1660 mining, eth mining, ethereum mining ... #bitcoin #bitcoinmining #bitcoinmininghome Is Bitcoin (BTC) mining worth it Dec. 2018? BTC mining ASICs from China profitability in 2018....Bitcoin mining at... Cryptocurrency Mining Profitability Feb. 2019- Bitcoin Fridays Winner So, in today's video I go over what my mining rigs did over the last week as far as cryptocurrency profitability in February ... #cryptocurrency #BAKKT #Bitcoin #altcoin #binance #kucoin #coinbase #ripple #cryptocurrencynews,#xrp #bnb #neo #bakkt #fidelitydigitalassets #bitcoinprice #bitcoinnews,#bitcoinpump #bitcoindump # ...