Blockchain technology is claimed to be according to blockchain proponents to be one of the most impactfull discoveries in the recent history. It is promised to have a massive potential to change how we handle online transactions. Despite some skeptics, the majority of experts agree that blockchain has the potential to disrupt the banking and financial industry, and many other ones! To put it simply, blockchain enables decentralized transactions across a P2P network. There are applications where those propertied can be very useful, but there are many cases where blockchain migh not be the best solution even though it is hyped to be solution for very many application (remember to ask Do you need a blockchain? often).
This 16 Blockchain Disruptions (Infographic) by bitfortune.net tries to help you understand how the blockchain technology can and will improve 16 different industries, from music to government.
Infographic by bitfortune.net
1,206 Comments
Tomi Engdahl says:
https://thehackernews.com/2022/02/justice-department-appoints-first.html?m=1
Tomi Engdahl says:
Intel designs new crypto mining chip that’s ‘1000 times better’ than current processors
https://www.independent.co.uk/tech/intel-crypto-mining-chip-blockchain-b2014694.html
Tomi Engdahl says:
NFTs: New Fraud Targets
https://www.forbes.com/sites/davidbirch/2022/02/20/nfts-new-fraud-targets/
The automation of fraud demands better defences, beginning with digital identity.
Also possible OpenSea smart contract hacking https://web3isgoinggreat.com/?id=2022-02-19-0
Tomi Engdahl says:
New OpenSea attack led to the theft of millions of dollars in NFT https://blog.checkpoint.com/2022/02/20/new-opensea-attack-led-to-theft-of-millions-of-dollars-in-nfts/
The idea behind the OpenSea migration is to address the existing inactive listings of old NFT’s, and in order to do that, they are planning to upgrade to a new contract. All users will be required to “migrate” their listings on Ethereum to the new smart contract.. [...] Some hackers took advantage of the upgrade process and decided to scam NFT users [...] Signing a transaction is similar to giving someone permission to access all your NFT’s and cryptocurrencies. This is why signing is very dangerous. Pay extra attention to where and when you sign a transaction.
Tomi Engdahl says:
Jaw-dropping Coinbase security bug allowed users to steal unlimited cryptocurrency https://portswigger.net/daily-swig/jaw-dropping-coinbase-security-bug-allowed-users-to-steal-unlimited-cryptocurrency
A security researcher has netted a $250, 000 bug bounty for disclosing a vulnerability in Coinbase that could have allowed a user to sell’
currency they did not own. [...] Alpha described on Twitter how they used 0.0243 ETH to sell 0.0243 BTC on the BTC-USD pair, “a pair I do not have access to, without holding any BTC”.
Tomi Engdahl says:
Could bitcoin be Putin’s economic savior? That’s unlikely, experts say
Virtual currencies such as bitcoin are sometimes associated with lawlessness, but the reality is they’ve become a regulated business with safeguards against money laundering.
https://www.nbcnews.com/tech/crypto/bitcoin-putins-economic-savior-s-unlikely-experts-say-rcna17724
Bitcoin and other cryptocurrencies have made it easier than ever to move money around the world without the help of traditional banks, but that doesn’t mean they’ll do much to help Russia sidestep international sanctions.
Experts in money laundering on Friday said that it would not be realistic for Russia to switch to cryptocurrencies on a large scale to move money across borders, even if it might work for smuggling small amounts into or out of the country.
Russia may still try to launder money that way, especially if the United States and European Union impose much stronger sanctions over the crisis in Ukraine, but a sharp turn toward cryptocurrency hasn’t been very successful for other outcast countries such as Venezuela that have tried it, experts said.
“The fact is, these sanctions are going to be potentially crippling and could become more crippling, and there’s nothing crypto can do about that,” said Ari Redbord, head of legal and government affairs at TRM Labs, a cryptocurrency compliance firm.
The reasons have to do with the severe potential consequences for people outside Russia who conduct transactions in violation of the sanctions, as well as the radical transparency that’s one of the hallmarks of virtual currency.
Online exchanges, though they may market themselves as challenging the establishment, have also developed modern compliance departments similar to those at banks, experts said.
“Oftentimes you hear that the crypto industry is this unregulated Wild West, and that’s just not true in the U.S.,” said Redbord, a former federal prosecutor and Treasury Department official.
Cryptocurrencies have had an air of mystery and lawlessness since the development of bitcoin as the first peer-to-peer electronic cash system more than a decade ago. Its proponents hail bitcoin as free from the control of any authority and a competitor to the U.S. dollar and other government-backed currencies. Some think it might help bring about world peace.
Moving and trading cryptocurrencies through online exchanges is fast, and there’s a record of each transaction stored on a blockchain, an ledger that anyone can read but no one can fake or destroy because it’s stored on a distributed system of computers.
But the same qualities that make cryptocurrencies attractive to some buyers could also make them a terrible choice for money laundering.
“When you look at crypto, it’s a market that at first glance looks like a great way to hide sources of funds and transfer funds across the globe,” said Salman Banaei, head of public policy for North America at Chainalysis, a cryptocurrency compliance firm.
“The issue, however, is that transfers of cryptocurrency can be followed in real time,” he said. “In the last few years there’s been a number of technological breakthroughs in terms of tracing crypto activity, both simple activity and through mechanisms that are intended to obscure the source of funds.”
Tomi Engdahl says:
Matt Robinson / Bloomberg:
Sources: the SEC is probing the NFT market to determine if tokens are securities, focusing on fractional NFTs, in which a token is broken into units for sale — The U.S. Securities and Exchange Commission is scrutinizing creators of NFTs and the crypto exchanges where they trade to determine …
https://www.bloomberg.com/news/articles/2022-03-02/sec-scrutinizes-nft-market-over-illegal-crypto-token-offerings
Tomi Engdahl says:
David Yaffe-Bellany / New York Times:
A look at anonymity in crypto, as some VCs back founders without learning their names and pseudonymous entrepreneurs control hundreds of millions of dollars — Investors give money to pseudonymous developers. Venture capitalists back founders without learning their real names.
https://www.nytimes.com/2022/03/02/technology/cryptocurrency-anonymity-alarm.html
Tomi Engdahl says:
Olga Kharif / Bloomberg:
NonFungible: the average NFT selling price has declined to ~$2K, after an all-time high of ~$6.9K on January 2, with a ~40% drop since Russia attacked Ukraine — While anecdotal evidence that the NFT market is beginning to cool abounds, there are no bigger red flags that what’s going on with sales and prices.
https://www.bloomberg.com/news/articles/2022-03-03/nft-mania-show-signs-of-cooling-as-average-price-sales-decline
https://www.bloomberg.com/news/articles/2022-03-03/nft-mania-show-signs-of-cooling-as-average-price-sales-decline
Tomi Engdahl says:
Muyao Shen / Bloomberg:
Chainalysis: Ruble-denominated crypto activity was just $34.1M on March 3, down from $70.7M on February 24 and a record $158M on May 20 2021
https://www.bloomberg.com/news/articles/2022-03-03/russia-s-crypto-volumes-are-stalling-across-the-major-exchanges
Tomi Engdahl says:
Intel’s new mining chip should tempt miners away from gaming GPUs
By Katie Wickens published about 16 hours ago
https://www.pcgamer.com/intels-efficient-mining-chip-could-tempt-cryptocurrency-miners-away-from-gaming-gpus/
Intel’s Bonanza Mine Bitcoin miner will come at half the cost of current market leaders, and with 15% higher efficiency than it’s major competitor.
Tomi Engdahl says:
Bitcoin overtakes Russian Ruble
Crypto price rises 20 per cent since Russia invaded Ukraine, while Russia’s currency crashes 25 per cent
https://www.independent.co.uk/tech/bitcoin-price-russia-ruble-crash-b2025055.html#Echobox=1646066548
Bitcoin has overtaken the Russian Ruble after a crypto market surge coincided with Russia’s currency crashing.
The cryptocurrency reached above $41,000 on Monday afternoon, according to CoinMarketCap’s price index, having traded below $35,000 as recently as Thursday.
Tomi Engdahl says:
Generate Your Unique NFT Collection with High Resale Potential and Conquer the Digital Art Market
https://www.nftgeneratormachine.com/squeeze-page16349159927171634944778546?fbclid=IwAR2dqy48ZXwIQii3jq_RQwhjfVYz1_6ISOuu22Y6QfIBWmyRmrUgqFGiybQ
Tomi Engdahl says:
Intel blasts Bitcoin mining, unveils own mining kit
Gelsinger believes his chip won’t make quite a hash of the climate
https://www.theregister.com/2022/02/26/intel_bitcoin_chip/
Tomi Engdahl says:
https://duinocoin.com/
What is Duino-Coin?
Duino was founded in 2019 and is a for-fun, fully original crypto coin project developed by a team of young developers that focuses on energy efficient mining. It’s mostly, but not only, dedicated to people who are just starting out in the crypto world as it doesn’t require any expensive equipment.
Tomi Engdahl says:
Intel Details Its Bitcoin-Mining ‘Bonanza Mine’ Chips and 3,600-Watt Miner
By Paul Alcorn published 13 days ago
Intel’s 3,600-watt Bitcoin-mining powerhouse
https://www.tomshardware.com/uk/news/intel-details-its-bitcoin-mining-bonanza-mine-chips-and-systems
Tomi Engdahl says:
https://www.tomshardware.com/uk/news/intel-details-its-bitcoin-mining-bonanza-mine-chips-and-systems
Tomi Engdahl says:
Civilization’s Sid Meier blasts NFTs, game monetisation
https://lm.facebook.com/l.php?u=https%3A%2F%2Fwww.eurogamer.net%2Farticles%2F2022-02-28-civilizations-sid-meier-blasts-nfts-game-monetisation&h=AT1FXmO7bgIxbUfF_QP69E-MjATuioyBj5zgWywCCamjxsH8T-kaGzUdl4nH0mt8P5xTWXCaxdfgm52SHnhTw2Y-AtmNV-K4p4OhS_PW9-qwncPOZeYkIdbfHpZ_KemMQA
Speaking to BBC News on the 30th anniversary of the original Civilization’s release, Meier issued a stark warning that progress in game development was beginning to forget about gameplay itself.
And on NFTs, Meier warned that chasing this form of monetisation risked alienating players altogether.
Sid Meier warns the games industry about monetisation
https://www.bbc.com/news/entertainment-arts-60304123
Tomi Engdahl says:
Venäjän maabrändi on nyt katastrofaalisen huono ja se on johtanut kaikkien elämänalueiden boikotointiin – pelkkä maassa olo on mainehaitta
https://yle.fi/uutiset/3-12343640
Venäjällä toimiminen on nykytilanteessa brändeistään tarkoille yrityksille hirmuinen imagoriski, katsovat brändiasiantuntijat. Venäläisten tuotteiden poisto valikoimasta tai viennin keskeyttäminen eivät enää riitä.
Tomi Engdahl says:
Jamie Crawley / CoinDesk:
The EU Parliament will vote on crypto rules on March 14, after the removal of wording that would have banned proof-of-work cryptocurrencies over energy concerns
EU Parliament Monetary Committee to Vote on MiCA Next Week
Wording that would have banned proof-of-work cryptos like bitcoin has been removed.
https://www.coindesk.com/policy/2022/03/07/eu-parliament-monetary-committee-to-vote-on-mica-next-week/
After having previously been postponed thanks to an outcry over language amounting to a “de facto” ban on Bitcoin, a vote by the Monetary Committee of the European Union’s parliament on the EU’s Markets in Crypto Assets (MiCA) legislation will take place on March 14.
The news was tweeted out minutes ago by Dr. Stefan Berger, the member of parliament in charge of shepherding MiCA through parliament.
“An independent topic of proof-of-work is no longer provided in the MiCA,” Berger told CoinDesk, confirming his promise to remove language he had previously called a “de facto” ban on Bitcoin.
“My suggestion is to include crypto assets, like all other financial products, in the taxonomy area,” Berger today added. “In view of the controversial discussions surrounding the energy consumption of crypto assets, the taxonomy could provide clarity and ensure a better information basis for consumers.”
“Strong support for MiCA is a strong signal from the EU Parliament for a technology-neutral and innovation-friendly financial sector,” he concluded.
The Case for Taxing Proof-of-Work
https://www.coindesk.com/layer2/taxweek/2022/02/24/the-case-for-taxing-proof-of-work/
Most bitcoin owners aren’t cypherpunks and don’t require an energy-intensive consensus mechanism. A tax would shift them on to sensible alternatives. This post is part of CoinDesk’s Tax Week.
Tomi Engdahl says:
Ben Brody / Protocol:
Public Citizen: the number of US-based crypto lobbyists rose from 115 in 2018 to 320 in 2021 and lobbying spending quadrupled from $2.2M in 2018 to $9M in 2021 — Crypto lobbying may be K Street’s hottest new business, according to a new report from Public Citizen.
A crypto lobbying boom is sweeping Washington
Almost everybody in crypto is spending — and hiring — more, according to a new report.
https://www.protocol.com/bulletins/crypto-lobbying-boom
Crypto lobbying may be K Street’s hottest new business, according to a new report from Public Citizen.
The left-leaning consumer advocacy group said the number of lobbyists representing the industry reached 320 last year — up from 115 in 2018. Spending quadrupled too, reaching $9 million, from $2.2 million just three years earlier.
A lot of that money came from Coinbase, Ripple and the Blockchain Association: All three spent more than $2 million on lobbying during the years that the report examined, according to the group.
Washington powerhouses from outside the core of the crypto industry also got in, with the U.S. Chamber of Commerce and Meta each listing more than 30 lobbyists working on the issue (including four for Meta’s now-defunct Diem project).
The report also noted several former high-profile government officials — from both parties — who either became crypto lobbyists or went to work in the industry.
Tomi Engdahl says:
Sarah Emerson / BuzzFeed News:
How Denton, Texas, which is $140M in debt after a 2021 winter storm, agreed to a crypto mine at its natural gas power plant for millions in annual revenue — A 2021 winter storm overwhelmed Denton’s power grid, pushing the city into crushing debt. Then a faceless company arrived with a promise …
This Texas Town Was Deep In Debt From A Devastating Winter Storm. Then A Crypto Miner Came Knocking.
https://www.buzzfeednews.com/article/sarahemerson/denton-texas-crypto-miner-core-scientific?scrolla=5eb6d68b7fedc32c19ef33b4
A 2021 winter storm overwhelmed Denton’s power grid, pushing the city into crushing debt. Then a faceless company arrived with a promise to refill its coffers — and double its energy
Last February, a disastrous winter storm pummeled Texas with ice and snow, threatening to topple the Texan energy grid. In the city of Denton, neighborhoods blinked off and on as the local power provider tried to conserve electricity. Places like assisted living facilities were momentarily excluded from the blackouts, but those eventually went dark too. Then the gas pipelines froze, and the power plant stopped working. Over the next four days, the city bled more than $200 million purchasing energy on the open market. It would later sue the Electric Reliability Council of Texas, the grid operator also known as ERCOT, for saddling Denton with inflated energy prices that caused it to accrue $140 million in debt.
“While we were in an emergency, ERCOT allowed prices to go off the scale,” Denton City Council Member Paul Meltzer told BuzzFeed News. “We were forced to pay. We were approached Tony Soprano–like to empty our reserves.”
So when a faceless company appeared three months later, auspiciously proposing to solve Denton’s money problems, the city listened. A deal was offered. In exchange for millions of dollars in annual city revenue, enough to balance its ledgers and then some, Denton would host a cryptocurrency mine at its natural gas power plant. And not just any mine — a massive data center that would double Denton’s energy footprint so that rows upon rows of sophisticated computers could mint stockpiles of bitcoin, ether, and other virtual currencies. To officials who had simply tried to keep the lights on when conditions became deadly, the unexpected infusion seemed a relief.
Tomi Engdahl says:
Cheyenne Ligon / CoinDesk:
The CFTC charges three Americans and one Indian for operating two alleged Ponzi schemes, Ecoinplus and JetCoin, that defrauded investors of $44M in bitcoin
CFTC Brings Charges Against 4 Alleged Operators of $44M Bitcoin Ponzi Scheme
Tuesday’s charges are just the latest in the regulator’s efforts to regulate the crypto industry.
https://www.coindesk.com/policy/2022/03/08/cftc-brings-charges-against-4-alleged-operators-of-44m-bitcoin-ponzi-scheme/
Tomi Engdahl says:
Bitcoin and cryptocurrency prices have soared following the premature publication of a U.S. Treasury statement on a long-awaited Biden administration executive order
Leak Reveals Biden’s Crypto Plans—Sending The Price Of Bitcoin, Ethereum, BNB, Solana, Cardano, XRP, Terra’s Luna And Avalanche Higher
https://www.forbes.com/sites/billybambrough/2022/03/09/leak-reveals-bidens-crypto-plans–sending-the-price-of-bitcoin-ethereum-bnb-solana-cardano-xrp-terras-luna-and-avalanche-higher/
The bitcoin price has leaped to over $40,000 per bitcoin, up 10% on the last 24 hours, after crashing under the psychological level in the aftermath of the Russian invasion of Ukraine.
Ethereum and other top ten coins BNB, solana, cardano, XRP and avalanche are all up between 5% and 8% while Terra’s luna payments coin has left bitcoin, ethereum and others in the dust, adding a blistering 20%
“A presidential executive order on cryptocurrencies would ‘support responsible innovation’ as it coordinates U.S. policy across agencies,” Treasury secretary Janet Yellen wrote in a statement that was briefly published on Tuesday evening before being removed but not before being spotted by Coindesk reporters. The webpage now reads: “Access denied—You are not authorized to access this page.”
Biden’s executive order is expected to instruct a clutch of federal agencies to investigate the need for crypto-related regulatory changes, as well as the national security and economic impact of bitcoin and other cryptocurrencies.
Tomi Engdahl says:
Parody:
https://www.theonion.com/priceless-nft-artwork-vandalized-with-spray-paint-tool-1846574103
Tomi Engdahl says:
Emily Nicolle / Bloomberg:
Two Austrian entrepreneurs acquire the assets of LimeWire, the music sharing service shuttered in 2010, and plan to relaunch it as an NFT marketplace for music
https://www.bloomberg.com/news/articles/2022-03-09/limewire-is-making-a-crypto-comeback-but-not-as-you-know-it
Tomi Engdahl says:
Gerrit De Vynck / Washington Post:
A look at the Islamic world’s debate over cryptocurrencies, seen as gambling by some, as millions of people in Indonesia and the Middle East invest in crypto — Mu’aawiyah Tucker is a religious man. Because the Koran forbids the practice of earning interest on loans, Tucker has for years tried to avoid traditional banks.
Islam has a rich tradition around finance. Crypto is prompting new questions.
https://www.washingtonpost.com/technology/2022/03/08/bitcoin-crypto-islam-haram/
Religious Muslims are debating over what their faith has to say about bitcoin, dogecoin and the rest of the crypto universe
Mu’aawiyah Tucker is a religious man. Because the Koran forbids the practice of earning interest on loans, Tucker has for years tried to avoid traditional banks. For a while, he became a self-described “gold bug,” putting savings into the precious metal. But then, Tucker, 40, discovered bitcoin.
Today, the London-based programmer and web designer runs a YouTube channel trying to dispel concerns other Muslims may have about cryptocurrency and arguing that they actually have benefits for those seeking to live faithfully. In his view, the traditional Islamic principle of delayed gratification lines up well with the “hodl” movement — a belief among crypto investors that ignoring naysayers and holding onto their investment will ultimately pay off.
“The whole ‘hodl’ mentality is actually in essence the same thing. We’re holding on to the thing and we’re waiting until the reward later on,” Tucker says.
Whether cryptocurrency is indeed permissible, however, is a matter of debate. In recent months, prominent religious authorities have issued fatwas warning followers to stay away from cryptocurrencies, arguing that their wild price fluctuations and shadowy origins make them more akin to gambling, which is also forbidden by the Koran.
“Cryptocurrencies as commodities or digital assets are unlawful for trading because they have elements of uncertainty, wagering and harm,” Asrorun Niam Sholeh, head of religious decrees for the Indonesian council of Islamic scholars, told reporters in November after issuing a fatwa against using crypto. “It’s like a gambling bet.”
Debates like this aren’t unusual for Islam. The religion has a rich history of scholarship on financial issues, and Islamic law, or sharia, has a robust financial component.
Other financial innovations like currencies that aren’t backed up with gold reserves, credit cards and commodity options trading have all sparked debates in the past.
The stakes are high. As prices for bitcoin and other cryptocurrencies rose rapidly last year, millions of people in the Islamic world began investing in them, especially in Indonesia and the Persian Gulf states, which have large populations of digitally connected young people.
A single bitcoin bought in 2013 for $30 or $40 is worth around $40,000 today.
According to a November report from Pew Research, one in six Americans have invested in or transacted with cryptocurrencies, although there are few practical uses for them beyond speculation and investment at the moment. A handful of companies, including Microsoft and Whole Foods, do accept cryptocurrency as payment, but usage is extremely limited.
Crypto is so different from other financial products because transactions are recorded using technology known as blockchain software that runs on many different computers around the world. Instead of a bank or government being the arbiter of who owns what, the blockchain allows transactions to be recorded without a central authority.
“But for cryptocurrencies, they are all unknowns. Who issues it?” Amatayakul says. The crypto world is littered with scams known as “rug pulls,” whereby a proponent of a new currency will collect real dollars from investors and then disappear.
Whether the Islamic world dives into crypto or avoids it could have an impact on the price of cryptocurrencies and the future of the technology. Four of the 10 biggest sovereign wealth funds are run by majority-Muslim countries in the Persian Gulf, together holding hundreds of billions of dollars, according to the Sovereign Wealth Fund Institute. Although those funds are not required to invest only in sharia-compliant assets, large portions of them are.
“The governments are looking at how they can diversify their economies away from hydrocarbons. Part of that is looking at fintech and part of fintech is digital assets,” Khan says. Young people in Muslim countries are also increasingly interested in crypto as a way to increase their opportunities.
But for now, many Islamic scholars aren’t convinced. The raft of scams, the highly speculative nature of crypto, the connection with money laundering and crime, and the difficulty in understanding who exactly is behind certain projects all add up to a situation where most people should avoid cryptocurrencies, says Amatayakul.
“Cryptocurrencies and bitcoin is in the age of childhood,” he says. “We must allow it to grow up and become an adult.”
Tomi Engdahl says:
Lohkoketjutekniikalla digitaalista taidetta – jopa metaversiumissa
https://www.uusiteknologia.fi/2022/03/11/lohkoketjutekniikalla-digitaalista-taidetta-tulevaisuudessa-jopa-metaversiumissa/
Uudenlainen LFT-lohkoketjutekniikka näyttää mullistavan digitaalisten taideteosten välittämisen. välityksessä digitaalinen teos voidaan myydä uudelle omistajalle omistusoikeuksineen verkon kautta. Nuorempi sukupolvi ainakin uskoo NFT-ilmiön kasvuun, kertoo Samsung kyselyssään. Tulevaisuudessa digitaalinen taide nivoutuu myös uuteen metauniversiumin tulemiseen.
NFT-ilmiössä (A non-fungible token) on kyse digitaalisesta sertifikaatista, jossa digitaalisten luomusten omistusoikeuksien ja kauppahistorian todistamisesta salattujen lohkoketjujen avulla. NFT-tekniikka on noussut maailmanlaajuiseksi puheenaiheeksi juuri välitettyjen taideteosten valtavien myyntihintojen ansiosta: tähän asti suurin NFT-teoksesta maksettu hinta huitelee lähes 100 miljoonassa dollarissa.
Tämän hetken suurin NFT-sektori on digitaalinen taide, joka käsittää muun muassa taideteosten, videoiden ja äänitiedostojen digitaalisen kaupanteon.
Digitaalinen NFT-teos voi tosin olla mikä tahansa muukin digitaalinen esine, kuten kauppakortti tai pelin kaltaisessa digitaalisessa maailmassa sijaitseva maa-alue, talo tai vaate. Aivan kuten fyysisen alkuperäisteoksen hankkiessa, myös NFT-teokseen käsiksi pääsee ainoastaan sen ostaja.
”Taiteen luomisen digitalisaatio on jo pitkällä, mutta tähän asti alkuperäistaiteen ostaminen, omistaminen ja kuluttaminen on ollut vahvasti ei-digitaalista. NFT on esimerkki tämän kehityksen edistymisestä, kun alkuperäistaidetta on mahdollista tuoda reaalimaailmaan digitaalisenakin”, sanoo Mika Engblom, Samsung Suomen mobiililiiketoiminnan johtaja.
Samsung on tutkinut NFT-kaupan trendiä innovoidakseen siitä uusia myytäviä tuotteita. Yritys on panostanut kännyköihin ja tabletteihin, joissa on mukana piirtokynä ja tarvittavat ohjelmistot. Lisäksi yhtiö järjesti viime torstaina Glasshouse Helsingin galleriatilassa NFT-tapahtuman, jossa kokemuksiaan luovasta NFT.työskentelystä esitteli tapahtumassa muassa valokuvaaja Reka Nyari.
Tomi Engdahl says:
AT-HOME BITCOIN MINING TO SECURE THE NETWORK
CAPTAIN SIDDMAR 4, 2022
https://bitcoinmagazine.com/business/how-this-home-miner-secures-bitcoin
An at-home bitcoin miner describes his setup, offsetting heat costs, tax incentives and his role in securing the Bitcoin network.
Tomi Engdahl says:
Gas heater broke down? I’ll just heat my caravan with a Bitcoin miner
https://cointelegraph.com/news/gas-heater-broke-down-i-ll-just-heat-my-caravan-with-a-bitcoin-miner
When a propane gas heater stopped working, Bitcoin mining came to the rescue of a cold caravan in Colorado.
“It makes much more sense to replace a resistive heater (like a space heater) with a Bitcoin miner, as both of them will turn electricity into heat, while the Bitcoin miner also generates Bitcoin.”
“So I came up with the idea to keep it in a box outside and route the warm air into the airstream.”
The caravan was kept warm while mining Bitcoin, powered by solar panels on the roof and free campsite electricity — negating the need for burning propane gas. Schmid adds that “we have a quite small airstream (only 22ft), bigger RVs have much bigger propane heater systems and would pay much more for the propane (they could also run more S9 of course).”
But why go to all the effort equipping an RV with a Bitcoin miner? Why not try to fix the propane heater issue?
“saves around 50% of the propane costs, which is around $2.7 per day,” and at current estimates, he generates “0.00006259 BTC per day.”
Tomi Engdahl says:
All UK crypto-currency cash machines (ATMs) are operating illegally and must be shut down, the Financial Conduct Authority has announced.
https://www.bbc.co.uk/news/technology-60709209
Tomi Engdahl says:
Just Say No to CBDCs
A Central Bank Digital Currency would enable a totalitarian nightmare
https://theupheaval.substack.com/p/just-say-no-to-cbdcs?s=r
Tomi Engdahl says:
https://www.iflscience.com/technology/nft-collector-accidentally-sells-1-million-drawing-of-rock-for-less-than-a-cent/
Tomi Engdahl says:
Ex-Meta employees raise $200M from a16z, Tiger, Multicoin to realize Facebook’s crypto dreams
https://techcrunch.com/2022/03/15/aptos-labs-a16z-multicoin-facebook-diem-blockchain/?tpcc=tcplusfacebook
Tomi Engdahl says:
Karissa Bell / Engadget:
Mark Zuckerberg says NFT support will be coming to Instagram over the next several months and that users will “be able to mint things within that environment” — Love them or hate them, NFTs will soon be coming to Instagram. Speaking at SXSW, Mark Zuckerberg confirmed …
Mark Zuckerberg confirms NFTs are coming to Instagram
He suggested that Instagram users would be able “to mint things within that environment.”
https://www.engadget.com/mark-zuckerberg-confirms-nf-ts-are-coming-to-instagram-204435805.html
Love them or hate them, NFTs will soon be coming to Instagram. Speaking at SXSW, Mark Zuckerberg confirmed that digital collectibles would be arriving on Instagram “in the near term.”
“We’re working on bringing NFTs to Instagram in the near term,” he said. He didn’t detail exactly how that would take shape, but suggested people would be able to show off their existing NFTs and potentially mint new ones. “I’m not ready to kind of announce exactly what that’s going to be today. But over the next several months, the ability to bring some of your NFTs in, hopefully over time be able to mint things within that environment.”
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Zuckerberg and other execs have previously expressed an interest in NFTs, with Instagram’s top executive Adam Mosseri saying the company was “actively exploring” the technology. The Financial Times reported in January that the company was hoping to add NFTs into its crypto wallet Novi.
Tomi Engdahl says:
Rest of World:
Six months after El Salvador adopted Bitcoin as legal tender, citizens, economists, and tech developers reflect on the country’s glitch-plagued initiative — As El Salvador prepares to launch its ‘Bitcoin bond’, interviews with citizens, economists and technologists reveal cracks in the country’s crypto revolution.
Six months in, El Salvador’s bitcoin gamble is crumbling
https://restofworld.org/2022/el-salvador-bitcoin/
As El Salvador prepares to launch its ‘Bitcoin bond’, interviews with citizens, economists and technologists reveal cracks in the country’s crypto revolution.
When El Salvador officially made Bitcoin legal tender in September 2021, José Bonilla was one of the first citizens to sign up for a government-backed digital wallet that lets anyone use the cryptocurrency. The 23-year-old Salvadoran, who runs a shoe store with his family in the tourist town of Concepción de Ataco, was looking forward to trying out the technology. He’d heard that it would reduce costs and speed up payments.
After a few days of overcoming technical glitches, Bonilla was up and running and accepting payments in Bitcoin from customers.
But the shine soon wore off. By February 2022, Bonilla’s list of complaints about Bitcoin was long: the only available Bitcoin ATM was too far away, the government helpline was slow, and the price was too volatile. One day, he lost a $25 transaction from a customer to technical issues and never heard back from the digital wallet’s customer service team. “I decided not to use it any more,” he said.
He’s not the only one. Six months since El Salvador’s Bitcoin Law came into effect, adoption of the cryptocurrency remains patchy.
Tomi Engdahl says:
Zachary Warmbrodt / Politico:
Congress is unlikely to pass major legislation to regulate crypto, as Senator Warren emerges as a vocal critic while some progressives embrace the industry — Democratic lawmakers are entering a crypto collision course. — Questions around how to police digital currency and whether …
Elizabeth Warren’s anti-crypto crusade splits the left
https://www.politico.com/news/2022/03/15/democrats-divided-crypto-future-00015804
The lack of consensus among Democrats means it’s unlikely Congress will act anytime soon to pass major legislation on the direction of regulation of the new market.
Tomi Engdahl says:
Eliza Gkritsi / CoinDesk:
Ukrainian President Volodymyr Zelenskyy signs a law legalizing cryptocurrencies in the country, after parliament passed the virtual asset bill on February 17 — Ukraine has received $100 million in crypto donations during its war with Russia. — Ukrainian President Volodymyr Zelenskyy legalized crypto …
Ukraine’s Zelenskyy Signs Virtual Assets Bill Into Law, Legalizing Crypto
Ukraine has received $100 million in crypto donations during its war with Russia.
https://www.coindesk.com/policy/2022/03/16/ukraines-zelensky-signs-virtual-assets-bill-into-law-legalizing-crypto/
Ukrainian President Volodymyr Zelenskyy legalized crypto in the country, signing into law a bill on virtual assets, amid a frenzy of digital asset donations to support the country’s defense against a Russian invasion.
Tomi Engdahl says:
https://www.techradar.com/uk/news/intels-new-bitcoin-mining-chip-is-already-gaining-serious-traction
Tomi Engdahl says:
Mark Zuckerberg confirms NFTs are coming to Instagram
https://lm.facebook.com/l.php?u=https%3A%2F%2Fwww.engadget.com%2Fmark-zuckerberg-confirms-nf-ts-are-coming-to-instagram-204435805.html%3Fguccounter%3D1&h=AT3cXGc1oQjkI-MVec82dJILBcL1t-69C6J6UzU74V53JeOGb9USlpoOsPPJacWZysLZzthIDfClGjECXYC8Q5ngyXke1tEySz9-rBrFNpNRyXLxnH0HDNF6BHZUbwfPqg
He suggested that Instagram users would be able “to mint things within that environment.”
Tomi Engdahl says:
Bored Apes NFT project gets official ‘ApeCoin’ token
https://techcrunch.com/2022/03/16/bored-apes-nft-project-gets-official-apecoin-token/
Even among the fastest-growing crypto startups, Yuga Labs has had a particularly explosive year.
The startup is behind the NFT project Bored Apes Yacht Club (BAYC), which only launched in April of last year but has quickly grown to become the most valuable NFT project by market cap. The price of admission to purchase the cheapest of the 10,000 images currently sits at around $240,000 worth of the Ethereum cryptocurrency. As the startup reportedly looks to bank funding at a $5 billion valuation (a spokesperson for the company declined to comment on that figure), Yuga Labs is looking toward the future, detailing a new partnership for a play-to-earn gaming title built around a much-hyped token called ApeCoin.
Tomi Engdahl says:
The EU has maintained a relatively cynical view on the emergence of crypto
Cryptocurrency Investors May “Lose All Their Invested Money”, Warn EU Regulators
https://www.iflscience.com/technology/cryptocurrency-investors-may-lose-all-their-invested-money-warn-eu-regulators/
European Union (EU) financial regulators have released a warning over the lack of regulation and protections afforded to cryptocurrency wallets, stating investors “face the very real possibility of losing all their invested money if they buy these assets”.
The statement explains that cryptocurrencies are “highly risky and speculative” and “not suited for most retail consumers” as many people turn to digital currencies as a way to invest.
Consumers “face the very real possibility of losing all their invested money if they buy these assets; should be alert to the risks of misleading advertisements, including via social media and influencers; and should be particularly wary of promised fast or high returns, especially those that look too good to be true,” the European Securities and Markets Authority writes in a statement.
Tomi Engdahl says:
The Man Behind Ethereum Is Worried About Crypto’s Future
https://time.com/6158182/vitalik-buterin-ethereum-profile/
Tomi Engdahl says:
Kevin Williams / Washington Post:
Limestone, Tennessee residents were promised economic benefits from a bitcoin mine, but now face constant noise pollution from its computers and cooling fans
https://www.washingtonpost.com/business/2022/03/18/bitcoin-mining-noise-pollution-appalachia/
Tomi Engdahl says:
Edward Ongweso Jr / VICE:
SXSW shows crypto and the metaverse are underwhelming, mundane, and pathetic; the biggest boosters are rich enough to generate interest but not social utility — The first SXSW in three years was taken over by crypto-mania fueled by marketing hype. — It did not really hit …
At SXSW, A Pathetic Tech Future Struggles to Be Born
The first SXSW in three years was taken over by crypto-mania fueled by marketing hype.
https://www.vice.com/en/article/88gb75/at-sxsw-a-pathetic-tech-future-struggles-to-be-born
Tomi Engdahl says:
Why web3’s wealthy are donating crypto instead of cash
https://techcrunch.com/2022/03/20/web3-charity-donate-crypto-cryptocurrency-nonprofit-cash/
As the Russia-Ukraine war rages on, crypto has become an integral tool for donors abroad to support Ukraine. The success of crypto-native fundraising campaigns in this context is reflective of a broader trend that’s taken off in a big way this year of crypto holders giving away their coins to support charitable causes.
Charities around the globe are soliciting donations in crypto to aid Ukraine. Endaoment, a popular crypto giving platform, says it has raised over $2 million for charities supporting Ukraine since the onset of the war in late February. Another crypto nonprofit platform, The Giving Block, has also already taken in $1.5 million in crypto donations and announced a campaign yesterday to raise $20 million in cryptocurrency for its Ukraine Emergency Response Fund supporting a variety of accredited nonprofit groups including United Way Worldwide and Save the Children, according to a webpage for the campaign.
Tomi Engdahl says:
Bored Apes NFT startup Yuga Labs raises seed round at monster $4B valuation
https://techcrunch.com/2022/03/22/bored-apes-nft-startup-yuga-labs-raises-at-monster-4-billion-valuation/?tpcc=tcplusfacebook
Yuga Labs, maker of the multimillion monkey JPEGs that plenty of NFT skeptics love to hate, just raised a $450 million round from Andreessen Horowitz at a $4 billion valuation, the company announced Tuesday.
The Miami-based NFT firm behind Bored Apes Yacht Club has not previously raised funding though the startup has long been courting attention from VCs eager to back a major player in the NFT craze. Other investors in the round include Animoca Brands, LionTree, Sound Ventures, Thrive Capital, FTX and MoonPay.
Yuga Labs is increasingly doubling down on its position. Earlier this month, the startup announced it had acquired the assets of popular NFT projects CryptoPunks and Meebits from Larva Labs. The startup is also fresh off the launch of ApeCoin, which the startup’s founders and executives have a substantial stake in. The token gathered a multibillion dollar market cap on its first day of trading.
Tomi Engdahl says:
From Rapper To Tech CoFounder: Lil Durk Is Disrupting NFT Fashion With New Company NXTG3NZ
https://lm.facebook.com/l.php?u=https%3A%2F%2Ftrib.al%2F1IGbB8u&h=AT008ryjUtZRGByXQD7MQdUE_UDRTZJ7wly_ZwyshE7Z84DOqyfjkKlPwi-jwkwBFA4MP4YZ8gDLuKONCVZEmkbCMvIkdNXBDFUVDTubnlfZono6_TgX2TwP6mpwvM1qdQ
NFTs or non-fungible tokens launched into popularity in the third quarter of 2021, with trading reaching $11.7 billion by the fourth quarter. The largest NFT marketplace, Opensea, broke records in January of this year with $4.8 billion worth of NFTs sold. Despite volatile patterns in prices, NFTs shows no sign of slowing down. With the Metaverse in its infancy, NFTs are central in providing a way to own virtual assets such as fashion, art, businesses, and homes.
In 2019 Fortnite generated $1 billion in-game skins on the avatar marketplace, validating the demand for collectible fashion within the Metaverse, opening the door for fashion brands and designers to capitalize on the NFT market. Currently, gaming skins for avatars are a $40 billion market and are expected to rise to $265.4 billion by 2026.
Tomi Engdahl says:
Miles Kruppa / Financial Times:
In a report, International Organization of Securities Commissions compares DeFi to dotcom bubble, says most DeFi protocols are centralized in one or more areas
DeFi projects rife with hidden risks, global regulatory body warns
Iosco report highlights conflicts and other red flags in fast-growing corner of crypto markets
https://www.ft.com/content/b0c581c8-96b2-4c34-abcc-5189d7283891
The global umbrella organisation for securities regulators has warned that decentralised finance contains myriad hidden conflicts and risks, as authorities begin circling one of the fastest growing corners of cryptocurrency markets.
Iosco on Thursday plans to publish a 43-page report on DeFi listing more than a dozen “key risks” it has identified in the market. Moloney said the group would gather feedback from market participants and consider drafting guidelines for regulating DeFi.
“Most DeFi protocols rely on centralisation in one or more areas, and there are protocols that have a hidden centralised authority and are decentralised in name only,” the board of Iosco wrote in the report, which was reviewed by the Financial Times.
“What we’re seeing is a lot of conflicts of interest are emerging in this space, and a lot of them are not transparent,” Moloney told the FT in an interview. “A lot of the participants in this space are claiming to be doing one thing and actually doing another thing, or actually doing multiple things at the same time.”
Moloney said the financial and material interests between development teams and DeFi projects are “highly conflicted, in many cases”. Development teams often play a role in distributing cryptocurrency tokens that help to govern the projects, while giving themselves large allocations.
Cryptocurrency owners have committed more than $210bn in capital to DeFi projects, according to the analytics website DeFiLlama, with much of it used to finance overcollateralised loans and peer-to-peer trading. Venture capitalists have also poured money into development teams and cryptocurrency tokens issued by the projects.
Tomi Engdahl says:
https://www.facebook.com/6250307292/posts/10161629470392293/
It started as a low hum one day last spring. Then it got louder, and soon some residents said the noise was like a jet engine idling on a nearby tarmac.
The noise came in April last year when the Tennessee-based firm Red Dog Technologies opened a plant in Limestone, Tenn. to mine (or create) new bitcoin, the original and still-largest cryptocurrency.
“We couldn’t have people over to gather in our front yard because we could hardly hear one another talking,” said Preston Holley, whose home sits across the street from the mine.
While supporters tout economic benefits such as an expanded tax base and job creation, residents in areas that initially welcomed crypto mining are now experiencing buyer’s remorse. https://wapo.st/3txGIY1