The US has become the dominant country for crypto mining, but that dominance isn’t reflected in the crypto mining stocks, which continue to perform poorly as the market plunges, Barrons reported. The Cambridge Bitcoin Electricity Consumption Index (CBECI) had revealed that the US accounts for around 38% of the global Bitcoin hash rate in January…
On March 31, 2022, the People’s Bank of China held a symposium on the pilot work of digital RMB (digital yuan) research and development to summarize the preliminary research and development pilot work, and arrange the deployment of the next stage of work. Present at the symposium were Yi Gang, Governor of the People’s Bank…
Banking executive Hiromi Yamaoka believes that the conflict in Ukraine could influence central bank digital currencies (CBDCs) policy globally. The former head of payments and settlements department at the Bank of Japan sees countries such as China exploring CBDCs to counter the dominance of US dollars. China, others could explore CBDC to counter US Dollar…
China’s crackdown on Proof-of-Work mining last year tested the security of the Bitcoin network and showed that it was far more resilient than once thought. Analysts expected that it would take more than a year for Bitcoin’s hash rate to recover, but the network managed to rebound in less than a month. The mining ban…
Despite the total ban on cryptocurrencies in China, which makes it illegal for anyone to mine bitcoin within the country, several bitcoin miners still have their shops open under the radar. Recall that following the enforcement of a recent law against any crypto-related activity in the country, including mining, the country recorded a mass exodus…
Earlier in the year when China renewed its hostilities towards the crypto industry, one metric that saw a negative effect of the crackdown was the Bitcoin mining hashrate that plummeted by more than 50% during this period largely because crypto miners were being pushed out of the Asian country. Bitcoin mining hashrate recovers from China…
China has again demonstrated its anti-crypto position by relieving one of its officials from his position because he violated the country’s policies on digital assets. China sacks official for supporting “crypto mining” According to the South China Morning Post, Xiao Yi, who is a top government official in the Jiangxi Province, went against the government’s…
85% of DeFi users are riding the NFT wave, with US collectors leading the front Non-fungible tokens (NFTs) have gained popularity over the last two months, according to DappRadar, a data acquisition and analysis company that tracks decentralized applications (dapps) across multiple blockchains, which attracted more than 500,000 users during July 2021. 2 min read…
‘Rich Dad, Poor Dad’ Author Robert Kiyosaki Says Cryptocurrency Could Outlast Fiat This post was last updated on November 25th, 2019 at 04:24 amRobert Kiyosaki, the author of one of the top personal finance books of all time, stated that cryptocurrencies, gold, and silver, will triumph over an impending economic crash — the likes of…
It appears centralized exchanges are the most affected in China’s new ban on crypto trading as another exchange, KuCoin, has advised its China’s mainland users to move their digital assets to another platform before the end of the year. Kucoin tells Chinese users to use other platforms KuCoin, which is one of the world’s largest…