Monthly Archives: January 2022

The Hate Against Bitcoin Is Nothing New

New ideas have often found resistance, something that certainly isn’t new to bitcoin and its entrance into the mainstream. “Nitimur in vetitum” (We are ever striving after what is forbidden) You must have the devil in your body to suggest that there is something evil about a computer algorithm. Surely this would have to be counted as one of the fundamental characteristics of Bitcoin’s evolution: it has been called evil more times than the devil, there has been talk of banning it in hundreds of places, and […]

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Bitcoin falls to $36K, traders say bulls need a ‘Hail Mary’ to avoid a bear market

BTC price dropped to new lows at $36,000, leading analysts to call for a “Hail Mary close above $39,600” to stave off a bearish shift in Bitcoin’s market structure. Bitcoin (BTC) price continues to sell-off and the knock-on effect is an even sharper correction in altcoins and DeFi tokens. At the time of writing, BTC price has sank to its lowest level in 6 months and most analysts are not optimistic about an immediate turn around.  Data from Cointelegraph Markets Pro and TradingView shows that a wave of selling […]

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SEC rejects MicroStrategy’s Bitcoin accounting practices: report

The business intelligence firm has reported it used non-GAAP methods of calculating figures for its BTC buys excluding the “impact of share-based compensation expense and impairment losses and gains on sale from intangible assets.” Business intelligence firm MicroStrategy reportedly acted contrary to the Securities and Exchange Commission’s accounting practices for its crypto purchases. According to a Bloomberg report, a comment letter from the SEC released Thursday showed the regulatory body objected to MicroStrategy reporting information related to its Bitcoin (BTC) purchases based on non-GAAP, or Generally Accepted […]

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Indonesian Religious Organization Issues Decree Forbidding Use of Crypto by Country’s Muslim Population

Indonesia’s Tarjih Council and the Central Executive Tajdid of Muhammadiyah have issued a fatwa (decree) stipulating the illegality of cryptocurrency use or investment by the country’s Muslims. The fatwa points to the volatility as well as the lack of state backing as reasons why Muslims must avoid investing or using cryptocurrencies. Cryptocurrencies Thought to Be Too Volatile The Indonesian Islamic organization Tarjih Council and the Central Executive Tajdid of Muhammadiyah has issued a fatwa against the use of cryptocurrency in the Asian country. The fatwa, which comes […]

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Sustainable Bitcoin Miner, Merkle Standard Buys 13,500 BITMAIN Mining Rigs for Eastern Washington Flagship Site

PRESS RELEASE. Irvine, California, January 21, 2022: Merkle Standard, a sustainable digital asset mining platform, announced a new miner purchase order from Bitmain Technologies Limited. The executed purchase agreement is for 13,500 mining rigs from the leading ASIC mining manufacturer and aligns with Merkle Standard’s goal of becoming the industry’s most efficient and sustainable miner. The acquisition of the miners consists of 6,000 latest generation BITMAIN S19 XP machines which boast a hash rate of 140 TH/s and 21.5J/TH power efficiency that significantly improves its operating capability. […]

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Redditors share their thoughts on buying Bitcoin at all-time highs

General consensus seems to be that it’s been all downhill both before and after Bitcoin’s recent 13th birthday. Many crypto enthusiasts turned to social media on Friday to voice their frustrations with the state of the crypto market. One Reddit user named imyourkingg allegedly invested 30% of his net worth into Bitcoin (BTC) a few months ago, saying: “I don’t need this money for the next 5 to 10 years, but I have to admit sometimes I get so afraid of Bitcoin’s future; I mean it crashes or […]

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MetisDAO TVL surges by 99,800% as the layer-2 race heats up

The total value locked on METIS rose by 99,881% in a month after the layer-2 project integrated with numerous DeFi protocols and cross-chain bridges. Attracting liquidity has become a de facto arms race in the growing decentralized finance (DeFi) landscape. Projects constantly battle to attract investors funds by offering enticing yields for crypto holders willing to take a risk and lock up their assets and protocols use this funds to build out their products and attract attention from larger investors.  One protocol that has been gaining traction […]

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Report: A16z to Raise $4.5 Billion for Crypto Investments

A16z, a leading VC company in crypto, is reportedly ramping up its investments in the field this year. The company is said to be looking for $4.5 billion to invest in different cryptocurrency-related funds. This amount more than doubles the entire amount the company invested in crypto last year. A16z to Double Down on Crypto A16z will continue to put funds behind cryptocurrency-related projects this year, according to reports. The VC company, which focuses its investments on tech-related companies and has more than $28 billion in assets, […]

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On The Ground In El Salvador With Samson Mow And The Volcano Bitcoin Bond

Bitcoin Magazine got an exclusive interview with Blockstream’s Samson Mow to discuss El Salvador’s new Volcano Bitcoin Bond. South America is alive and well today with the sound of new bitcoin initiatives: Rio de Janeiro taking taxes in bitcoin, Paraguay introducing new enabling legislation, Strike launching in Argentina, and El Salvador pioneering with bitcoin as its legal tender. Someone had to go first in adopting bitcoin as legal tender and introducing Bitcoin takes a special kind of courage — the kind shown by El Salvador President Nayib Bukele, Strike’s […]

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Bulgaria’s finance minister says country is exploring crypto payment options: report

The government official added that he thought Bulgaria was unlikely to become a major hub for crypto miners, many of whom many are reportedly considering leaving Kazakhstan. Assen Vassilev, Bulgaria’s Deputy Prime Minister for EU Funds and Minister of Finance, said the EU member nation is exploring options for rolling out a crypto payment mechanism. According to a Friday Bloomberg report, Vassilev said the government was in discussion with the Bulgarian National Bank as well as industry players to explore crypto payments “in the short to medium […]

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