Monthly Archives: June 2022

Bitcoin’s Energy Use is a Feature Not a Bug

Bitcoin incentivizes energy innovations whereas proof-of-stake results in exacerbated inequality since the more money you have, the more money you get. Mickey Koss is a West Point graduate with a degree in economics. He spent four years in the Infantry before transitioning to the Finance Corps. In a recent article titled “Bitcoin Is Not a Store-of-Value,” an author going by the name of 0xStacker provided a seemingly well-reasoned critique of Bitcoin, equating its energy usage to a flaw in the system — a leak that precludes bitcoin […]

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AuroraFS DApps Development Capabilities to Be Enhanced

PRESS RELEASE. Recent news reveals that AuroraFS has progressed in its vision and direction concerning the development of the next generation of DApps which will be deployed on the decentralized P2P cloud storage and distribution network. AuroraFS announced intentions to begin building DApps which will run on the content storage and streaming network, in addition to Web3Tube. Web3Tube is the decentralized video storage and sharing application which has been in full test mode for over a month now. Web3Tube was the first decentralized application to display the […]

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Armstrong tweets in public airing of Coinbase’s internal discontent

The petition was quickly removed, and the number of signatures was not shown, but its list of objections to the Coinbase status quo got a big reaction from the CEO. A disgruntled Coinbase employee, identified only as 0x58E3, created a petition on Mirror.xyz on Thursday calling for the removal of three company executives. The petition, titled Operation Revive COIN, has been taken down, but it was captured by the Internet Archive and other websites. Coinbase CEO Brian Armstrong responded to it at length on Twitter.  Coinbase chief […]

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Here’s how blockchains are helping to advance the global energy grid

Governments and environmentalists are quick to criticize the amount of electricity Bitcoin mining uses, but investors’ growing interest in crypto is leading to positive steps in the energy sector. The blockchain industry’s impact on the energy sector has been a major source of controversy over the past five years. Governments and environmental protection advocates have routinely expressed concerns about the amount of energy required to keep the Bitcoin network secure. Data shows the network’s energy consumption now rivals the yearly energy consumed by some small countries. Historical […]

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Report: Luxury Fashion Retailer Farfetch to Accept Crypto Assets for Payments

The British-Portuguese luxury fashion retailer Farfetch said it will accept crypto assets soon thanks to a partnership with the German crypto platform Lunu. Farfetch will accept seven different crypto assets including bitcoin, ethereum, and binance coin, and the feature will be rolled out to select clients and then expanded to the general public. Luxury House Farfetch Partners With Lunu and Plans to Accept 7 Different Crypto Assets for Payments Luxury and high-end fashion houses are dipping their toes into the world of digital currencies and blockchain concepts […]

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Bitcoin Needs To Be More Private For Adoption

Certain characteristics of Bitcoin create a loss in fungibility. These must be addressed and solved in order for Bitcoin to gain widespread adoption. Aneta Karbowiak has been writing articles about Bitcoin and cryptocurrency since 2018. When Satoshi Nakamoto wrote the Bitcoin white paper, he thought of a permissionless system to exchange electronic cash trustlessly. Today, Bitcoin has become a symbol of freedom, and as Edward Snowden says, “Liberty is freedom from permission.” By building a transparent, verifiable ledger, Satoshi introduced trust into the system, though. Trust damages […]

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Crypto Biz: Stablecoins are paving the way for mass adoption of crypto, June 2-8

Checkout.com, FTX, PayPal and Crypto.com headline the latest business news from the world of cryptocurrency and blockchain. Stablecoins are a controversial subject in crypto. Questioning the legitimacy and backing of Tether (USDT) is a right of passage for many entering the crypto market for the first time. The meltdown of the Terra ecosystem left little doubt that algorithmic stablecoins don’t have a future beyond Do Kwon’s fantasies. Pesky regulators are constantly poking and prodding at dollar-pegged assets in order to carve out firmer rules on their usage.  […]

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Do Kwon’s alleged $80 million withdrawals before Terra fallout triggers mixed reactions

Analyst Michaël van de Poppe said that the Terra founder deserves jail, comparing Kwon to fraudster Bernie Madoff, who was jailed after running a Ponzi scheme. Reports that Terra (the new LUNA orLUNA2) founder Do Kwon allegedly withdrew $80 million monthly before the project crashed surfaced Friday, leading members of the community to voice their opinions on the matter. In a tweet, crypto trader and analyst Michaël van de Poppe said that Kwon deserves imprisonment. He compared the Terraform Labs CEO to the infamous fraudster Bernie Madoff. […]

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Jack Dorsey is building ‘Web5’ powered by Bitcoin

Block Inc. is looking to bypass Web3 entirely and focus on a new Bitcoin-centric model for identity management. Block subsidiary TBD has announced plans to build a new decentralized web centered around Bitcoin (BTC), underscoring founder Jack Dorsey’s belief that the largest blockchain network will play a major role in the internet’s evolution.  The new project, called “Web5,” represents the latest Bitcoin-centric endeavor to be pursued by Dorsey since stepping down as CEO of Twitter in November 2021. Whereas Web3 incorporates blockchain technology and tokenization to decentralize […]

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Finance Redefined: Number of DAOs surge, Solana launches $100M DeFi fund

The past week in DeFi saw the launch of another $100M fund by Solana and the number of DAOs surged over 8X with increased protocol activity. This past week, the decentralized finance (DeFi) ecosystem was ruled by decentralized autonomous organizations and new fund launches for the growth of the Web3 ecosystem. The total number of DAOs surged by eight times while Solana launched a $100 million DeFi fund. Optimism, an Ethereum layer-2 protocol that Vitalik Buterin recently praised for its governance model, lost 20 million tokens due […]

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