China Fund News Taylor

The currency circle has ushered in a historic day.

Not only was the network cable unplugged, but the electricity was cut off directly for you!

Sichuan clears back cryptocurrency mining

The mines were powered off collectively and all mines were closed

It is reported that due to policy reasons, China and even Sichuan, the world’s most important gathering place for Bitcoin mining machines, will usher in a large area of ​​mining machines. According to calculations, the shutdown load is about 8 million. Following Inner Mongolia and Xinjiang, Sichuan, which is dominated by clean energy and hydropower, failed to become the last bastion of Bitcoin mining in China.

A document “Notice of the Sichuan Provincial Development and Reform Commission and the Sichuan Provincial Energy Bureau on the Cleanup and Shutdown of Virtual Currency “Mining” Projects” shows that for virtual currency “mining”, relevant power companies in Sichuan need to start on June 20 The screening, clean-up and shutdown work has been completed a few days ago.

The document shows that the people’s governments of various cities (prefectures), the State Grid Sichuan Electric Power Company, the Provincial Energy Investment Group, the central power generation enterprises in Sichuan, and the provincial state-owned power generation enterprises should follow the spirit of the 73rd executive meeting of the provincial government to implement the State Council’s financial The 51st meeting of the Stability and Development Committee on the requirements of “combating Bitcoin mining”, hereby notify the relevant matters as follows: 1. Complete the screening and shutdown of key objects. The Provincial Electric Power Company has reported 26 suspected “mining” projects, and the screening, cleaning and shutdown will be completed before June 20; 2. Carry out self-examination and self-correction by power generation companies, and immediately stop supplying power to virtual currency mining projects; 3. Do a thorough investigation and investigation. The municipal (prefecture) governments will immediately carry out a dragnet investigation, and the suspected projects will be shut down immediately and completed before June 25; 4. Earnestly fulfill the main responsibility, and must complete the cleanup and shutdown tasks with quality and quantity. Due to the abundant hydropower resources, a large amount of hydropower is abandoned in Sichuan during the wet season. In this regard, the Sichuan Provincial Government Office issued the “Sichuan Province Hydropower Consumption Industry Demonstration Zone Construction Implementation Plan” in August 2019, confirming Pilot projects for hydropower consumption industry demonstration zones will be carried out in 6 cities and prefectures, including Ganzi, Panzhihua, Ya’an, Leshan, Liangshan, and Aba. In 2020, Sichuan has successively approved two batches of hydropower consumption demonstration enterprises, and the list has covered many mining enterprises in the name of big data technology. On the evening of the 19th, a small video began to circulate in the circle of friends. The content was that the miners were cutting off the power of the Bitcoin mining machine, and the rows of beating green lights went out one by one. Many people at the scene said: Bye, See you. A miner A said, “An era is over, bye bye! Although the breeze is hard to blow me, how can the moon not shine. The ice can’t stop the water, and the dead wood will be in spring again.” Miner B also issued an article saying, “At this time last year, it was just in the domestic unblocking period. The first conference in the circle was the Sichuan-Chengdu Water-rich Mining Conference. Today’s time has passed. The mining boom at that time was integrated into the bright galaxy tonight. Later, industry practitioners You should also remember the glory here.” Practitioner C said, “Sichuan’s 8 million loads will be collectively shut down at 0:00 tonight. In the history of the blockchain, the most tragic and most spectacular scene of miners is about to happen. How far-reaching the impact is here will be known in the future. ” Practitioner D: “Today, we can officially announce the end of an era.” Of course, the happiest thing is that graphics cards can finally be reduced in price. Bitcoin’s entire network’s computing power plummeted overnight According to reports, Sichuan is the largest gathering of Bitcoin miners in China and even in the world, with approximately 8 million loads being used for cryptocurrency mining. According to data from btc.com, the current average computing power of the entire Bitcoin network is 126.83 EH/s, which is nearly 36% lower than the historical high of 197.61 EH/s (May 13). At the same time, Bitcoin mining pools with Chinese backgrounds such as Huobi Pool, Binance, AntPool and Poolin have fallen sharply in their computing power. The decline in computing power in the past 24 hours has been 36.64%, 25.58%, 22.17%, and 8.05%, respectively. Many places have already shot On May 21, the Financial Stability and Development Committee of the State Council (hereinafter referred to as the Financial Committee) held its 51st meeting to study and deploy key tasks in the financial sector in the next phase. The meeting was presided over by Liu He, member of the Political Bureau of the CPC Central Committee, Vice Premier of the State Council, and Director of the Financial Committee. Relevant responsible comrades from member units of the Financial Committee attended the meeting. Two points of this meeting were impressive: The first is to crack down on Bitcoin mining and trading activities, and resolutely prevent individual risks from being transmitted to the social field. The second is to maintain the smooth operation of the stock, debt, and foreign exchange markets, severely crack down on illegal securities activities, and severely punish financial illegal and criminal activities. In late May, Inner Mongolia, Sichuan and other places successively held seminars on virtual currency mining to strengthen the crackdown on related behaviors. On May 25, the Inner Mongolia Autonomous Region Development and Reform Commission issued the “Eight Measures on Resolutely Cracking Down on and Punishing Virtual Currency “Mining” (Draft for Comment). On June 9, the Qinghai Provincial Department of Industry and Information Technology issued the “Notice on the Comprehensive Shutdown of Virtual Currency “Mining” Projects”, requesting clean-up and rectification. It is strictly forbidden to initiate and approve various virtual currency “mining” projects in various regions, and to completely shut down all existing virtual currency “mining” projects. At the same time, resolutely investigate and rectify the project entities that set up projects in the name of big data, supercomputer centers, etc. but are engaged in virtual currency “mining”. On June 12, people from the Yunnan Provincial Energy Administration Office confirmed that according to the notice, various power-using departments will be organized to carry out joint inspections in a timely manner. At the end of June this year, Bitcoin mining companies will be cleaned up and rectified, and Bitcoin mining companies relying on power generation will be seriously investigated and punished. Enterprises, unauthorized private connection of electricity, evasion of national transmission and distribution fees, funds, and additional profit-making illegal activities, once discovered, immediately suspend power supply; severely investigate and punish power generation companies who use the generated electricity to privately transfer bitcoin without permission The illegal behavior of mining companies to obtain illegitimate benefits by supplying power; seriously investigate and deal with hidden dangers in the power use of Bitcoin mining companies, and immediately order them to shut down and make corrections once they are discovered

The People’s Bank of China issued a press release on Monday stating that it has recently interviewed the Industrial and Commercial Bank of China, Agricultural Bank of China, Construction Bank, Postal Savings Bank of China, Industrial Bank, and Alipay (China) with limited internet technology regarding banks and payment institutions providing services for virtual currency trading Companies and other banks and payment institutions. This move is aimed at combating Bitcoin and other virtual currency trading hype and maintaining financial security and stability.

According to people familiar with the matter, Ya’an City in Sichuan Province has assured relevant provincial departments that all Bitcoin and Ether mining companies will be cleaned up within one year.

After the Fed’s policy stance turned to hawks last week, the market’s interest in risky assets has diminished. “If, as I expected, the global trend of buying everything this week cools down further, then Bitcoin will feel the cold wind,” Oanda Asia Pacific Pte. Said Jeffrey Halley, senior market analyst at.

Some commentators said that with increasingly strict regulations, China’s computing power-the computing power used for mining and processing blockchain transactions-is waning

The People’s Bank of China issued a press release on Monday stating that it has recently interviewed the Industrial and Commercial Bank of China, Agricultural Bank of China, Construction Bank, Postal Savings Bank of China, Industrial Bank, and Alipay (China) with limited internet technology regarding banks and payment institutions providing services for virtual currency trading Companies and other banks and payment institutions. This move is aimed at combating Bitcoin and other virtual currency trading hype and maintaining financial security and stability.

According to people familiar with the matter, Ya’an City in Sichuan Province has assured relevant provincial departments that all Bitcoin and Ether mining companies will be cleaned up within one year.

After the Fed’s policy stance turned to hawks last week, the market’s interest in risky assets has diminished. “If, as I expected, the global trend of buying everything this week cools down further, then Bitcoin will feel the cold wind,” Oanda Asia Pacific Pte. Said Jeffrey Halley, senior market analyst at.

Some commentators said that with increasingly strict regulations, China’s computing power-the computing power used for mining and processing blockchain transactions-is waning

Fight against cryptocurrencies China closes data centers

As of: 06/22/2021 8:26 am

Virtual means of payment like Bitcoin are a thorn in the side of the Chinese government. That is why it is vehemently against it: Now data centers have been switched off in several parts of the country.

From Steffen Wurzel, ARD studio Shanghai

The Chinese government continues to vehemently oppose everything that has to do with Bitcoin. Banks and financial service providers were again asked not to offer any more services that have to do with crypto payment methods. One wants to preserve the stability and the security of the financial market and protect the assets and property of the population, said the state central bank of China.

China had banned trading in crypto-currency such as Bitcoin as early as 2017, as the first large country in the world. The so-called mining, however, i.e. the electronic generation of Bitcoins and Co with huge computer networks, was still tolerated by the Chinese authorities. The government has only been systematically taking action against decentralized and digital means of payment for around six weeks. Huge data centers were shut down in several parts of the country. Most recently, around two thirds of all new Bitcoins worldwide were generated with computers in China. This share will now decrease rapidly and significantly, say analysts.

Concept of bitcoin contradicts politics

Monetary and currency policy are centrally controlled in China. The central bank is directly under the communist leadership. The Chinese currency, renminbi or yuan, is not freely convertible. The decentralized and open concept of Bitcoin contradicts this policy and is therefore rejected by the Chinese government. At the same time, the government is working on its own digital currency, which, however, has almost nothing to do with Bitcoin.

The stricter action taken by the Chinese authorities against crypto-currency has helped Bitcoin to lose around half of its value in the past two months. The Bitcoin price is still a good three times as high as a year ago

May 11th of the Lunar Calendar

NowadaysLookSummer graduation song at station B

My colleague said it was taken at his alma mater

I miss my student days

While envious of colleagues

So there are so many stars in the school

In the end, he said he was used to it

I have seen many stars come to school in the four years of university

Here are the other big news today

# Sichuan Bitcoin mining farm collectively cuts off power netizens: Nice job

(China Fund News) It is reported that due to policy reasons, China and even Sichuan, the world’s most important gathering place for Bitcoin mining machines, will usher in a large area of ​​mining machines. According to calculations, the shutdown load is about 8 million kilowatts. Following Inner Mongolia and Xinjiang, Sichuan, which is dominated by clean energy and hydropower, also failed to become the last bastion of Bitcoin mining in China.

A document “Notice of the Sichuan Provincial Development and Reform Commission and the Sichuan Provincial Energy Bureau on the Cleanup and Shutdown of Virtual Currency “Mining” Projects” shows that for virtual currency “mining”, relevant power companies in Sichuan need to do so on June 20. The screening, clean-up and shutdown work was completed a few days ago.

According to data from btc.com, the current average computing power of the entire Bitcoin network is 126.83 EH/s, which is nearly 36% lower than the historical high of 197.61 EH/s (May 13). At the same time, Bitcoin mining pools with Chinese backgrounds such as Huobi Pool, Binance, AntPool and Poolin have fallen sharply in their computing power. The decline in computing power in the past 24 hours has been 36.64%, 25.58%, 22.17%, and 8.05%, respectively.

:plus! Big! force! degree!

# The supply chain has received the design proposal of Huawei Mate 50, and the delivery time is to be determined

(House of IT) According to China Securities Journal, Huawei Supply Chain Company stated that they have received Huawei Mate 50 mobile phone design. “Huawei did not say that it will cancel the release, but the time for mass production and supply has not yet been determined.”

At present, Huawei officials have not yet officially responded to the above news. However, some Huawei coefficient code bloggers said that they will not be cancelled, but will be postponed, and will do their best to launch this year.

According to the period of Huawei’s previous release of new products, the P50 series of mobile phones should have been released in March, and the Mate 50 series should be launched in September this year and equipped with a new generation of Huawei’s self-developed chips.

: Tears again.

# Xiaomi’s three new screens broke the news: MIX4 is FHD+ Huaxing screen, and there will be direct screens next year

(House of IT ) Digital blogger @ 数码闲聊站 recently broke a lot of information about new under-screen cameras and new folding screens from various manufacturers. Although some did not clearly indicate that they are Xiaomi, I believe there are still some small partners who can see it.

Although the news is complicated, there are actually three products about Xiaomi. Digital blogger @ ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​ release, Mi MIX4 and MIX FOLD will be released this year. , The latter supports 90/120Hz for both internal and external screens, while the third model is a direct-screen model with 1080p + 90Hz refresh rate and will be released next year.

Combined with the news of @数码闲聊站, the MIX FOLD under-screen version will be equipped with Qualcomm Snapdragon 888 chip, with 5000mah battery, and the rear main camera is still 108MP; while Xiaomi MIX4 will use the upgraded version of the Huaxing Optoelectronics under-screen solution shown last year , The hyperboloid AMOLED screen is expected to be around 6.67 inches, or it will support high refresh rates.

: There are so many people looking forward to MIX4.

# my country’s new crown vaccination has more than 1 billion doses, all regions continue to go all out to ensure vaccine supply

(CCTV )The National Health Commission announced today (June 20) that as of June 19, 31 provinces, autonomous regions, municipalities, and Xinjiang Production and Construction Corps had reported a total of 1.010.48 million doses of COVID-19 vaccine.

my country’s new crown vaccination has more than 1 billion doses, and all localities continue to make every effort to ensure the supply of vaccines, increase the organization and implementation of vaccination, and introduce a number of convenient measures to facilitate the people’s vaccination.

At present, all localities are taking effective measures to ensure the smooth progress of vaccination work.

: The second shot is over!

Tim Draper. “I think I would be right on this one,” Draper told CNBC Make It. Draper first made his bold price prediction in 2018, when Bitcoin was trading around $8,000, according to Coinbase. “I will be really right or really wrong [nhưng] I’m pretty sure it’s going in that direction,” Draper said. That’s because Draper believes that virtual currency will be “more used by then”. Draper predicts: “Wait about a year and a half and retailers will use Opennode [một bộ xử lý thanh toán Bitcoin], so people will accept Bitcoin.” Currently only a few major companies accept Bitcoin directly or indirectly through a third-party digital wallet app, including Microsoft, PayPal, Overstock, Whole Foods, Starbucks, and Home Depot. And many experts see Bitcoin as a store of value, like gold, rather than currency. Draper said: “I think [Bitcoin] will continue to increase because there are only 21 million in all. Thanks to its code, only 21 million Bitcoins can be “mined”. To date, over 18 million bitcoins have been in circulation. Draper, 63, who built his fortune by making early investments in Twitter, Skype, Tesla and SpaceX, did not share how many Bitcoins he currently holds or whether he invests in other cryptocurrencies. or not. Draper says most engineers are working on improving Bitcoin right now. Last week, Bitcoin had its first upgrade in four years, called Taproot. Going into effect in November, the reported change will mean greater security and transaction efficiency. It is also meant to unlock the potential for smart contracts on the Bitcoin blockchain, CNBC reported. Bitcoin “Like Microsoft” [trong] software world or Amazon in the world of e-commerce,” said Draper. He believes that Bitcoin will be at the center of all financial activity in the next two to three decades. However, the value of Bitcoin is highly volatile and there are concerns about its massive energy use. For this and other reasons, experts recommend only investing as much money in Bitcoin as you can afford. Hundreds of billions of dollars were wiped out after Elon Musk tweeted in May that he would be suspending Bitcoin purchases at Tesla due to environmental concerns. In 2014, Draper purchased nearly 30,000 Bitcoins seized by US Marshals Services from the Silk Road Online Black Market.

The tweet that the Tesla CEO released Sunday was part of an exchange with twitter users that omitted to refer to a CoinTelegraph article accusing him of “bitcoin manipulation.” Musk said that the company kept $1.5 billion of its initial investment in bitcoin, but sold about 10% to “confirm it’s easy to pay off.” [bằng bitcoin] without distorting the market”. Elon Musk has become a prominent and influential figure in the crypto world. He tweeted in May that Tesla would no longer accept bitcoin as a means of payment for its vehicles, citing the large amount of carbon emissions in bitcoin mining. esla will continue to allow transactions in bitcoin at the car manufacturer’s stores, once it is confirmed that the “mining” energy source is clean energy. Photo: Getty. This action is believed to be the cause of the sell-off of the world’s No. 1 cryptocurrency. Musk’s comments on the sustainability of bitcoin “mining” continue to resonate in the crypto community. A commonly cited metric from the University of Cambridge pegged the annual electricity consumption of bitcoin mining at around 99 terawatt-hours. This consumption is more than that of the Philippines or Pakistan. Some of Musk’s recent tweets have also sparked a mix of excitement, confusion, apprehension, and sometimes even fear in the crypto community. Earlier this month, investors attempted to analyze a mysterious tweet from SpaceX that included a bitcoin symbol and a broken heart emoji. The information that Elon Musk transmits has had a great influence on the price of dogecoin and bitcoin. Musk is also partly blamed for the current drop in bitcoin and the broader cryptocurrency complex. The Wall Street Journal has described him as the biggest influence on bitcoin. By the end of June 13, the bitcoin price was up nearly 8%, changing hands at $38,808.09 on CoinDesk. As of now, Bitcoin is up over 28% for the year but is down about 40% from its mid-April peak at $64,829.14. The world’s No. 2 cryptocurrency, Ethereum, gained nearly 5%, changing hands at $2,521.81. Back in February, Tesla revealed that it had acquired about $1.5 billion in bitcoin in a filing with the Securities and Exchange Commission. At the time, Tesla paid about $38,000/bitcoin for each bitcoin. This is the average price at the time of Tesla’s Q4 conference on January 27. This conference did not mention any bitcoin holdings and the date of filing with the SEC. Overall, the prices of digital assets like bitcoin are outperforming traditional markets.

1. Musk said Tesla wants to resume buying cars with Bitcoin?

   According to Hexun.com, this year’s cryptocurrency market has become extremely chaotic because of Musk’s blending. The several rounds of Bitcoin’s ups and downs are all related to him. Previously, he posted that Bitcoin was not environmentally friendly, causing Bitcoin to plummet from more than $40,000. Now Musk has posted more Bitcoin, and in one sentence, Bitcoin has risen by 10%, rebounding to 39,000 US dollars.

   In the early morning of June 14, Tesla CEO Elon Musk stated on social media that once it is confirmed that more than 50% of Bitcoin miners use clean energy for mining, Tesla will resume accepting Bitcoin payments. After the news was released, the price of Bitcoin rose 8.54%, breaking through $39,000 for a short period of time, and re-approaching the $40,000 mark.

   However, not long ago, Musk was also updating his social platform and released the expression of Bitcoin’s heartbreak. The allotted graphic is still a text of a couple breaking up, which is considered to be parting with Bitcoin, and Bitcoin plummeted. It has not been able to rise for a week in a row, and Musk has also been vilified by many investors.

   However, Muskobi didn’t care, and was still making (manipulating) Bitcoin remarks. According to reports, Musk confirmed that he and Tesla did indeed sell about 10% of the bitcoin they held. This move was designed to help “confirm that bitcoin can be easily liquidated without affecting the market.”

   

2. Is Musk, who is jumping from side to side, really sitting on Bitcoin?

We see that almost every time the price of Bitcoin appears to fall on a large scale, Musk will jump out of various special circumstances to cause violent fluctuations in the price of Bitcoin. Everyone can’t help but ask if Musk is really in Sit on Bitcoin?

First of all, from the perspective of the long-term development and evolution of Bitcoin, it is not very likely that Musk will be in charge of Bitcoin in the early stage. This is because the early stage of Bitcoin is basically in the hands of most Internet hackers and Internet speculators. At that time, most of the situation in Musk was in Tesla’s automobile manufacturing and rocket manufacturing and other fields, so from a long-term perspective, we said that Musk was sitting on Bitcoin at the beginning. It seems unlikely.

Secondly, from the current point of view, Musk has very obvious characteristics of Bitcoin. The core reason is that in the process of large fluctuations in the price of Bitcoin, there seems to be more or less the shadow of Musk. Musk always seems to give you some unexpected results in some very special circumstances. This is the most likely special situation for Musk in Bitcoin. We can think that in the early stage, Musk was due to his hands. There are not too many chips, so he does not actually have much confidence in Zuozhuang Bitcoin, but with the increasing number of chips in his hand, in fact, he now has the possibility of Zuozhuang Bitcoin. Every time the price of Bitcoin fluctuates on a large scale, Musk will make some very special moves, which is why he takes the position of Bitcoin.

Third, from a long-term point of view, everyone has seen the shadow of Musk in these rounds of Bitcoin’s plunge. Therefore, in such a situation, we might as well consider carefully what Musk is doing. Everyone is doing Bitcoin. When trading coins, do you have to consider clearly that Bitcoin has become a very high-risk currency? If giants like Musk are all in it, do you have to think about whether you are an ordinary person or not? If you don’t have the possibility of confrontation by this kind of super boss, don’t easily participate in the Bitcoin market. This kind of market risk is no longer affordable for ordinary investors.

Accordingly, the display error shows that the entire cryptocurrency market is only 508.87 billion USD, equivalent to a decrease of 66.15% in value in 24 hours. Meanwhile, the cryptocurrency price tracking site Coingecko, the cryptocurrency market capitalization on June 14 reached 1.677 billion USD, and increased by 8% compared to 24 hours ago. Besides the market capitalization error, users also cannot track the price of each digital currency on CoinMarketCap. In some other cases, the growth percentage of the cryptocurrency is displayed incorrectly. Information that the entire coin market capitalization decreased by 66% made many investors bewildered. Typically, the case of codes such as USDT, ADA, DOGE, SOL… all lost 50-98% of their value compared to 24 hours ago. In fact, the price difference of these digital currencies is only a few percent. “I have been involved in the cryptocurrency market since 2017 and only tracked the price on CoinMarketCap. Today, when I checked, this page announced that the total market capitalization has decreased by more than half. Immediately, the cryptocurrency groups I joined Everyone is confused,” said Hung Thuan, a longtime cryptocurrency investor in Tan Phu, Ho Chi Minh City. Meanwhile, social media users like Twitter are constantly sharing the hashtags #CoinMarketCapdown and #heartattack. “CoinMarketCap gives me a heart attack. Hope this is just a bug”, Twitter account @ Lonardo Mirco Post an article. At 5:10 p.m., CoinMarketCap posted on the website’s official Twitter that they were experiencing some lag in the APIs and that the developers of this website were actively fixing the bugs. “I’m sure this is an error because even though it reported a total market cap of $507 billion, CoinMarketCap still shows a market value of Bitcoin at $735 billion. It’s impossible that a single coin’s capitalization is higher than the total market cap. market,” said Quoc Van, an analyst from the cryptocurrency forum. Many investors said they felt like having a “heart attack” when they saw CoinMarketCap’s announcement. CoinMarketCap is a website that tracks fluctuations in digital currencies launched in 2013, founded by Brandon Chez. This website has quickly grown to become the most trusted source by users, institutions and media to compare thousands of cryptocurrencies. CoinMarketCap is often quoted by major news outlets like CNBC, Bloomberg… Even the US government uses CoinMarketCap data for research and reporting. In April 2020, CoinMarketCap was acquired by Binance Capital Mgmt. Binance is the global blockchain company behind the world’s largest digital asset exchange, by trading volume and users. According to the SimilarWeb , CoinMarketCap has a very large monthly traffic, about 272.32 million, ranking 179th in the world and 338th in the US in terms of traffic. If only in the category of financial and investment websites, CoinMarketCap ranks 8th. According to the data of Coin Desk Bitcoin price on June 14 (Vietnam time) increased to close to the threshold of $ 40,000 / dong. As of 5:20 p.m., the world’s largest cryptocurrency was trading around $39,200/dong, up 11.17% from a day earlier. The increase brings Bitcoin’s market capitalization to $734.8 billion. Year-to-date, the Bitcoin price has increased by more than 35%. Bitcoin’s price increase also pulls other cryptocurrencies up. The price of Ether – the second largest cryptocurrency – is up more than 7% from a day earlier to $2,500 a coin. XRP and Cardano also saw price increases of 6.15% and 6.73%, respectively. Exchange with Zing , international experts said that the large increase in Bitcoin’s price once again shows the influence of billionaire Elon Musk on the cryptocurrency market. After the latest move of the CEO of Tesla, Bitcoin price may touch $44,000/dong this week.

The scammer asked the victim to allow remote computer access, then collected sensitive information to borrow large sums of money in his name. Victims are harassed and threatened hundreds of times to continue investing. Two men used to come to his house to get more money. A representative from Nottingham Police said it was investigating the incident. Bitcoin investment scams are happening more and more as the pandemic breaks out. Photo: Napoli Shkolnik. “Investment scams have increased dramatically since the outbreak of the pandemic. That’s not surprising because many people assume that most of life will take place on a computer or phone… More Internet usage means more scammers have a great opportunity to reach victims We recommend anyone who wants to invest to do their own research first, check every detail before transferring money or sharing personal information… Guys Scammers often put up ads that look professional and trustworthy, with pictures of celebrities that make people think it’s a legitimate investment,” Beach said. A Nottingham police representative advised people to double-check information if invited to invest via call, email or social media. The warning from Nottingham comes after British authorities launched a new campaign, urging people to be on the lookout for investment offers, to report immediately if there are signs of fraud. In May, a woman in the UK was scammed more than $12,000 after reading an article titled “Tesla buys $1.5 billion in Bitcoin, plans to give away $750 million worth of Bitcoin” on the BBC. fake. The article urges readers to send a Bitcoin to an e-wallet, after which “Mr. Musk” will double the amount. After sending over $12,000 worth of Bitcoins with no response, this woman realized she had been scammed. She said this is the money saved to buy a new house. How harmful is Bitcoin to the environment? To mine Bitcoin, one needs a lot of miners that work 24/7. The carbon footprint of Bitcoin mining is equivalent to Argentina’s entire carbon footprint.

Billionaire Elon Musk speaks at an event. Photo: AFP/VNA Tesla Inc CEO, billionaire Elon Musk, on June 13 posted on his personal Twitter page that the electric vehicle maker will accept bitcoin transactions when miners use a lot of energy. more renewable in the operation of “mining” this digital currency. The post of the head of Tesla states: “Once there is confirmation of a reasonable (about 50%) use of clean energy by miners with an upward trend in the future, Tesla will continue to allow bitcoin transactions”. Bitcoin jumped 5.1% to 37,360.63 USD/bitcoin on June 13 following the post of billionaire Elon Musk. The above post comes after the scientific journal Nature recently published a study that found China’s bitcoin “mines” pose a threat to the country’s climate goals. These mines account for nearly 80% of the world’s cryptocurrency transactions and partly use the energy of coal-fired power plants. Billionaire Tesla expressed his belief that digital currency has a promising future, but it cannot come at a hefty price for the environment. In addition, Mr. Musk also reacted to the article raising the possibility that billionaire Elon Musk regularly affects the value of bitcoin in one direction or another for his business benefit. The Tesla chief said that the company sold about 10% of its bitcoin holdings to confirm that the digital currency has easy liquidity without volatility to the market. Earlier in February 2021, Tesla revealed that it had purchased $1.5 billion in bitcoin and would accept it as a form of payment for cars. But in May, billionaire Musk reversed the decision, citing long-standing environmental concerns around mining this coin. Bitcoin dropped more than 10% in value shortly thereafter.

(Source: Reuters) The leading electric car manufacturer Tesla (USA) will again accept vehicles pay in bitcoin when the process of “mining” this cryptocurrency is certified to use clean energy. Tesla CEO, Billionaire Elon Musk announced the above information on June 13 and immediately caused bitcoin to increase 5.1% in value, to $ 37,360.60 at 1:10 am on June 14 (Vietnam time). Billionaire Musk said Tesla will restore use bitcoin coin in payment transactions when “miners” certify that 50% of the electricity used to “mine” cryptocurrencies is clean energy and identify this as a positive trend in the future. Bitcoin and other cryptocurrencies are the “rewards” obtained after the process of “mining” with specialized miners that solve computational problems that allow linking blocks of transactions (blockchains). This process consumes a large amount of energy. In May, billionaire Musk announced Tesla will no longer accept bitcoin as a means of payment in its purchases. The announcement reverses Tesla’s decision in late March to accept payments in bitcoin and invest $1.5 billion in the digital currency. According to the graph of Bitcoin Mining Power Consumption Index produced by the University of Cambridge (CBECI), the energy use for “mining” cryptocurrency has increased continuously since 2016, even skyrocketing in 2020 and up The current level is 149 terawatt-hours (TWh), an all-time high.

On June 13, Tesla CEO tweeted that he will accept Bitcoin electric vehicle payments again. However, this only happens when Bitcoin miners can prove that about 50% of the energy they use is clean energy. According to Reuters, Bitcoin price increased 5% to 37,360.63 USD at 1:10 am on June 14 (Vietnam time) after Mr. Musk’s tweet. Musk also said that Tesla will sell about 10% of its Bitcoin holdings to show that Bitcoin can be easily liquidated. During the first quarter of the year, Tesla sold about $272 million in “virtual assets,” which reduced its operating loss by $101 million. Tesla CEO comments about cryptocurrencies often cause price fluctuations. As a result, he was criticized by CEO Magda Wierzycka of asset management company Sygnia as a “market manipulator” and that the US Securities and Exchange Commission (SEC) should investigate. In February, Tesla revealed in an SEC filing that it had purchased $1.5 billion in Bitcoin and would accept Bitcoin as payment for its products. However, then the electric car company paused due to concerns about the method of mining virtual currency, which requires huge electricity consumption, affecting climate change. “We are concerned about the rapidly increasing use of fossil fuels to mine and trade Bitcoin, especially coal, which is the worst emitter,” Musk tweeted in May. Du Lam (According to Reuters)

A Bitcoin mining site in Sichuan. Photo: EPA. On the same day, the branch of the National Development and Reform Commission in Changji, an area in the far west of Xinjiang, ordered the closure of cryptocurrency mining workshops. Currently, Xinjiang is the world’s largest Bitcoin mining region based on hashrate – a measure of the total computing power of the blockchain. On the Internet, information related to cryptocurrencies has also been thoroughly removed by China. From June 10, search results related to Huobi, Binance and OKEx – the top three cryptocurrency exchanges – were blocked on Baidu and Weibo. However, keywords like “Huobi official website”, “download Huobi” or “Is Huobi legal” still appear. This is the second time in a year that Weibo has removed keywords and content related to cryptocurrency exchanges. In March, this social network suspended the accounts of all three exchanges mentioned above. In 2019, the account of Binance co-founder He Yi, along with crypto entrepreneur Justin Sun, was also locked. Last week, Weibo banned a series of crypto KOLs on its platform citing “violation of principles” and “relevant laws and regulations”. China’s recent “suppression” of crypto activities is cited as financial risk. However, the country is also concerned that mining problems will compromise its environmental goals. China has a goal of becoming a carbon neutral country by 2060. Bitcoin mining nowadays consumes a lot of energy. According to the latest estimates from the Cambridge University Bitcoin Electricity Consumption Index (CBECI), the amount of electricity used to “mine” Bitcoin amounts to 111.5 TWh per year, more than the total energy used by the Netherlands. The prevention of cryptocurrency mining will continue to be maintained by China in the future. On June 7, the Cyberspace Administration of China (CAC) held a meeting with the main content of strengthening supervision of blockchain-related service platforms, virtual private network (VPN) services. and cross-border Internet technologies. Earlier, the National Internet Finance Association, the Bankers Association, and the Payments Association jointly issued a statement on the ban on electronic money services, and the Inner Mongolia Development and Reform Commission also issued a regulation, banning electronic money services. Bitcoin mining operations. “It is possible that China will issue a permanent ban on Bitcoin and cryptocurrencies in general,” said Chen Weigang, general manager of the Financial Institutions Supervision Department of the China Banking and Insurance Regulatory Commission. talk to China News Weekly .

Hughes’ family has a tradition of breeding for generations. Now, he uses the farm to mine cryptocurrencies with a set of “buffalo plows” that use renewable energy from cow dung. Mining coins with renewable energy With six cylinder engines at 500 rpm, Hughes’ anaerobic digestion system can turn the methane that produces cow dung into electricity. BBC said. Under hypoxic conditions, microorganisms will eat hydrogen and carbon dioxide in cow dung and release methane gas, which can be burned to generate heat. The residue left after the anaerobic stage will be used as fertilizer. Philip Hughes’ farm (left) uses cow dung to produce renewable energy, feed livestock, and mine Ethereum. Photo: Crypto Hunter. According to Hughes, about two-thirds of the electricity generated from the anaerobic digester powers the nearby cattle ranch and caravan park. The rest of the energy is used for “buffalo plow” platforms to mine Ethereum. Hughes said Ethereum mining returns are good, but “depends on the date the question is asked,” referring to the cryptocurrency’s unpredictable price movements. Since May, the value of Ethereum has dropped from more than $4,000 to around $2,500, according to data from . CoinDesk on the evening of 10/6. Is mining with green energy possible? Not only digging Ethereum at the farm, Hughes also came up with the idea of ​​​​renting a “buffalo plow”. Josh Riddett, a representative of Easy Crypto Hunter miner provider, said that the cost to pay is about $ 25,400 for each “buffalo plow” set consisting of many computer graphics cards with strong configuration. According to Riddett, Easy Crypto Hunter’s mining rigs have been installed in 42 different locations. They use energy forms such as solar, wind, hydroelectricity and stored methane from anaerobic digesters. The longevity of the “buffalo plow” platforms causes concern about e-waste. Photo: Getty Images. However, representatives of some small hydropower projects are concerned that cryptocurrency mining may have an adverse impact on the environment. Meanwhile, the hydroelectric power plant operator said that the unstable value of cryptocurrencies makes it difficult to recover capital for the project. Some people said that crooks broke in and stole the mining rig. Besides hydroelectric power, the initiative to use renewable energy (green energy) to mine cryptocurrencies is also controversial. According to the BBC , renewable energy to mine coins can be used for other purposes such as powering electric cars or heating. Financial economist Alex de Vries said that using green energy to mine coins is wasteful. “The benefits these systems offer are very limited. Bitcoin can only process up to 7 transactions per second, while payment services like Visa can process 65,000 transactions per second if needed.” Vries is also concerned that the longevity of the “buffalo plots” could make them quickly become e-waste. Using renewable energy to mine coins is considered wasteful. Photo: BTCManager. In the UK, the Association of Bioresources and Anaerobic Digestion of the country said that the number of energy plants mining cryptocurrencies is quite small. While the future of cryptocurrency is unclear, several people have expressed interest in Hughes’ mining project. This farmer is fully aware of the risks of investing in assets whose value fluctuates, sometimes with just a single tweet from Elon Musk. If the cryptocurrency market crashes, Hughes said he will use the computing power of the “buffalo” to serve other purposes, such as hiring filmmakers to render. The owner of the net shop removed the machine, digs coins and waits for the translation to end Due to the impact of the Covid-19 epidemic, Mr. Nguyen Minh Quan (Thu Duc City) had to close the net shop, remove the graphics card to dig coins, earn extra income waiting for the reopening date.

Accordingly, US investors have made a profit of up to $ 4.1 billion by investing in this world’s number 1 “virtual currency”. Right behind the US is China with 1.1 billion USD. The remaining positions in the top 5 include Japan ($0.9 billion), UK ($0.8 billion) and Russia ($0.6 billion). Notably, this list also includes the presence of Vietnam. According to Chainalysis estimates, Vietnamese investors have earned $0.4 billion in 2020 by investing in Bitcoin. On a global scale, Vietnam ranks 13th in the world in terms of Bitcoin-related profitability. Vietnam is also the 4th country in terms of cryptocurrency profits, just behind China, Japan, and South Korea. Ranking of the 25 most profitable countries from Bitcoin in 2020. According to Chainalysis, due to the decentralized nature of the technology, it is very difficult to find out where the parties are in a cryptocurrency transaction. The published results were estimated using transaction data from services that Chainalysis tracks. In its analysis, Chainalysis measures the total volume of Bitcoin transactions at each crypto exchange. They estimate the amount earned by the difference in the price of Bitcoin at 2 times of entering and leaving the exchange. Chainalysis then distributes this profit based on each country’s share of web traffic on each exchange. By doing this, Chainalysis has produced a report on how much return investors in each country will make with Bitcoin in 2020. Even so, Chainalysis’s methodology is approximate and not yet available. regardless of the profits from the digital assets still in the exchanges. Vietnam currently ranks 10th on the Global Cryptocurrency Acceptance Index. According to Chainalysis, Vietnam is a perfect example of a country where the level of participation in cryptocurrency transactions far exceeds the ranking of the economy. Although only ranked 53rd in GDP with about $262 billion and ranked as a low-middle-income country, Vietnam still has a fairly high level of acceptance for cryptocurrency transactions. Accordingly, Vietnam ranks 10th out of 154 countries in the Global Cryptocurrency Acceptance Index. This is one of the rare indexes where Vietnam has the same rank as developed countries such as the US, China or South Africa, even more than many other developed countries such as the UK, France, Germany, and Spain. , Japan, Korea,… With such popularity, Chainalysis is not surprised that Vietnamese investors ranked 13th in the world in terms of income earned from Bitcoin in 2020. Many Vietnamese Bitcoin investors have won big in 2020. Similar to Vietnam, this phenomenon also occurs in a number of other countries such as the Czech Republic (54th in GDP, 18th in income from Bitcoin), Turkey (25th in GDP, 16th in revenue). Bitcoin income) and Spain (19th in GDP, 9th in Bitcoin income). On the other hand, despite having the 4th largest economy with the 2nd largest population in the world, India is being left behind in the crypto economy. In 2020, the country’s investors only made 241 million USD from the increase in the price of Bitcoin, ranked 18th in the world. This is because the Indian government does not seem to be very friendly with cryptocurrencies. India used to ban all cryptocurrency transactions in the country, until the Supreme Court of India lifted the ban in March 2020. Although many Vietnamese investors are making big profits from cryptocurrencies. Having said that, investing in Bitcoin or other cryptocurrencies is a very risky investment. Therefore, investors need to be careful and learn carefully before deciding to enter this harsh market.

Plan from El Salvador Bitcoin mining with volcanic energy?

Status: 10.06.2021 12:45 p.m.

Completely clean, completely renewable: El Salvador’s President Nayib Bukele plans to mine Bitcoins with the help of energy from volcanoes. This is how the country wants to get its high energy consumption under control. El Salvador wants to use geothermal energy from volcanoes for the energy-intensive mining of the crypto currency Bitcoin. President Nayib Bukele tweeted that he had commissioned the state-run geothermal electricity company LaGeo to work out a corresponding plan. The President is convinced that this is very cheap, 100 percent clean and renewable, does not generate any emissions and will develop quickly. There are more than a dozen volcanoes in El Salvador, many of which are still active.

Huge energy requirements

The immensely high energy requirement of Bitcoin mining has been discussed critically in public for a long time. The Cambridge Center for Alternative Finance (CCAF) is working on this topic and has created an index on it . The Cambridge Bitcoin Electricity Consumption Index is supposed to estimate in real time how much electricity is currently being used for mining. The data is then extrapolated to the year. The calculated value is currently around 111 terawatt hours. This corresponds roughly to the annual electricity consumption in the Netherlands. According to the Federal Environment Agency, Germany consumed around 553 terawatt hours in 2020. According to a study by Bank of America, the global Bitcoin industry emits a total of 60 million tons of CO2 annually, which corresponds to the emissions of around nine million cars.

Bitcoin as a means of payment …

A few days ago, Bukele announced that El Salvador would be the first country to introduce Bitcoin as legal tender . He expects the move to create thousands of new jobs in the Central American country. Among other things, taxes should be able to be paid in Bitcoin. Bitcoin is the most popular digital currency. It is not issued by a central bank, but created using a decentralized computer process known as mining. It is by no means clear whether it is even suitable as a means of payment.

… or as an object of speculation?

Because so far, cryptocurrencies have mainly attracted attention as speculative objects, the value of which is subject to extreme fluctuations: Bitcoin was quoted at more than $ 55,000 around May 10, and is currently around $ 36,000. If the value of part of the income is exposed to such strong fluctuations within a very short period of time, this poses a number of problems for a state budget policy. The high volatility of cryptocurrencies is also an incalculable risk for companies. The US electric car maker Tesla, for example, started in March of this year To accept Bitcoin as a means of payment for its vehicles and reversed this step a little later . As a justification, Tesla boss Elon Musk referred to the “insane” energy consumption of prospecting. But it is likely that Musk, as a businessman, at least had these price fluctuations in mind.

Specifically, leaders in Qinghai province ordered the closure of Bitcoin mining pools on Wednesday (June 9) and banned related companies from operating in the province. On the same day, leaders in the city of Changji in the Xinjiang Autonomous Region ordered the closure of the mines here, which hold the largest Bitcoin mining capacity in the world. Inside a cryptocurrency mine in Sichuan. Meanwhile, searches for the keywords Huobi, Binance and OKEx have also been blocked on the search engine Baidu and on the social network Weibo. These are the three major virtual currency exchanges in the world and are used by the Chinese to trade cryptocurrencies. This is the second time Weibo has blocked cryptocurrency-related content in the past few months. In March, the social media accounts of the three exchanges were blocked by Weibo for unknown reasons. Earlier, Weibo also blocked the account of Binance co-founder and famous shark Justin Sun. A series of moves to crack down on virtual currencies from China has caused Bitcoin to plummet since the middle of last month, at times dropping more than 50% from its peak to $30,000. The reason given is because virtual currency mining goes against China’s goal of being carbon neutral by 2060. According to data from the University of Cambridge, Bitcoin miners consume about 111.5 Terawatts per hour in a year, equivalent to the total electricity consumed in the Netherlands. On Monday, the Chinese regulator held a meeting to emphasize the task of strengthening the supervision of blockchain platforms, VPN (virtual private network) services and cross-border technologies with gambling elements. . China is taking over the world’s largest Bitcoin mining capacity. (source: Cambridge University) China currently accounts for about 65% of global Bitcoin mining capacity, according to the University of Cambridge. Among them, the regions of Xinjiang, Sichuan and Inner Mongolia currently account for the largest capacity. Qinghai province ranked ninth, accounting for about 0.26% of total capacity. The Inner Mongolia region began cracking down on miners in February and shut down 35 mining companies at the end of April. Sichuan is currently the most neutral place when it comes to hydroelectricity instead of coal mines and no new policy has yet been introduced. Outside of China, miners are actively looking for new homes. The President of El Salvador has officially recognized Bitcoin as a legal currency and promoted the mining of this virtual currency using geothermal energy from volcanoes. Phuong Nguyen (according to SCMP)

According to the CryptoNews From mid-March until now, Elon Musk has directly mentioned Bitcoin 9 times on his personal page. Two of them, he made the market red, Bitcoin depreciated by 10%. Elon Musk has a big impact on the Bitcoin market? The last time Elon Musk posted an article about Bitcoin was an image of an angry couple, with the words “BTC” and a broken heart symbol. Many people think this is a signal that Elon Musk no longer believes in the most valuable cryptocurrency. Soon after, he posted a meme photo of a trader who had difficulty trading because of the price correction. Is Elon Musk Talking Too Much About Bitcoin? Photo: Nikkei. According to the CryptoNews Bitcoin price dropped 2% just an hour after Musk posted the above article. In the following 24 hours, the Bitcoin price dropped 6%. That’s not the biggest drop Musk has made with the crypto market. On May 12, when Elon Musk announced that Tesla stopped accepting Bitcoin, in just an hour, the price of Bitcoin dropped 10%. This number remains for the next 24 hours. Not every article by Elon Musk has had such a large market impact. Out of Elon Musk’s last 9 Bitcoin-related posts, as of March 12, the majority have generated less than 1% volatility in the Bitcoin price. Even many articles have a positive influence, like when Elon Musk posted the Bitcoin symbol and diamond hand, alluding to the term Diamond hands, which are people who hold coins for a long time to wait for the price to rise. Following the aforementioned post, Bitcoin price increased by 3.6%. Over the next 24 hours, the increase is 10%, but it is difficult to confirm that it is entirely due to Musk’s post. Musk’s latest post is understood by many in the sense that he wants to “break up” with Bitcoin. Screenshots. CryptoNews commented that except for the news that Tesla stopped accepting Bitcoin payments and broke his heart, Elon Musk’s articles did not have too much impact on the cryptocurrency market in general and Bitcoin in particular. The fluctuations after his post were mainly due to previous market movements, hard to say because of Musk. Reasons for the volatility of the crypto market can include traders’ excessive use of leverage, China’s crypto ban, signals of crypto restrictions in the US, or concerns about cryptocurrency markets. environment. Elon Musk is getting hate for talking too much It cannot be said that Elon Musk can single-handedly influence the cryptocurrency market. However, the fact that he shares too much about this field still has the opposite effect on the reputation of the CEO of TEsla. Recently, every time Musk writes a Bitcoin-related article, he often receives negative feedback. According to data from the company Awario, which measures the emotions of social network users, the rate of positive responses to Elon Musk’s tweets fell to the lowest level in May. Negative feedback peaked on May 12, when he announced Tesla would stop accepting Bitcoin electric vehicle payments. Talking too much about cryptocurrencies, especially negative articles about Bitcoin, is damaging Elon Musk’s reputation. Photo: Twitter. In January, the number of tweets for and against Elon Musk was about equal. However, by May, the number of tweets against the Tesla CEO was 25% higher. This is the highest negative rate since Awario started measuring it in October 2020. According to this company, the number of tweets with neutral views still accounts for the highest proportion, up to 66%. “Clearly he is teasing the community,” said Bobby Ong, co-founder of crypto data analytics firm CoinGecko. “When Musk speaks out about crypto, the market will wait for a reaction,” Nick Spanos, co-founder of the ZAP Protocol crypto project told Reuters. While data from Musk’s most recent statements shows that the market reaction is less dependent on his words, Musk could still have a negative impact on his reputation. More than just damage to the crypto market, this could directly affect his other companies like Tesla. “Elon is slowly entering an area where it’s best not to say much, because Bitcoin is the currency of the future. I think that’s the danger zone for Elon, because when he makes his dips. price makes a lot of people lose money, they will stop supporting him and then Tesla,” Ross Gerber, CEO of investment firm Gerber Kawasaki and Tesla investor shared with Yahoo Finance .

Will Bitcoin appear in GTA 6? (Photo: Gizchina) Tom Henderson, who has repeatedly published reliable information about the Call of Duty and Battlefield series, recently shared some interesting details about Grand Theft Auto 6. According to him, Bitcoin will appear in the game. Rockstar Games’ upcoming action play as in-game currency. Users will receive them as rewards for individual tasks. The post by Tom Henderson reads: “Recently, I heard that in GTA 6, some missions will reward you with Bitcoins instead of cash for completing some missions. The stock market feature will return, with the addition of a broker for different cryptocurrencies. Tom Henderson’s post talking about GTA 6 on Twitter (Image: Gizchina) In the second message, Tom Henderson clarified that high-ranking figures who need to transfer large amounts of money quickly and do not want to leave a trace would prefer to pay in Bitcoin. According to an insider, the information comes from a reliable source; but before official announcement it should be treated as rumor. “For no reason, I mean in-game payments in Bitcoin. These payments will come from missions that need to transfer large amounts of money.” Recall that earlier Tom Henderson talked about the main characters and life experiences in Grand Theft Auto 6. Details of the upcoming GTA 6 Tom Henderson has pre-shared Grand Theft Auto 6 details. He talked about the game’s surroundings and some other details. Tom Henderson responded to a user’s question on Twitter: “Background [của trò chơi] Not in the 1980s, but in modern times.” Meaning, we can expect that the sixth installment will be closer to Grand Theft Auto V in terms of its surroundings. Previously, Tom has revealed that this will be the first time in Grand Theft Auto game history that a female protagonist will appear in the game. He also revealed some impressive rumors about the project. The 6th part of the hit game GTA has not been officially announced yet.

For many people right now, the future belongs to electric cars and virtual currency. According to Canadian light-electric vehicle manufacturer Daymak, the future is also bright, and its essence is centered on the model. Spiritus . electric tricycle . Daymak is one of those electric vehicle startups that makes extremely bold promises with its upcoming models. In addition to the new 3-wheel electric scooter Spiritus introduced in March this year, Daymak is also developing everything from electric bicycles, electric motorcycles to flying cars. They all belong to a product line collectively called Avvenire. Daymak Spiritus 3-wheel electric scooter introduction image From this week, customers can make bookings buy Spiritus with virtual currency . The Canadian company accepts various cryptocurrencies such as Doge, Ethereum, Cardano, and Bitcoin. Most importantly, Daymak says, “the Spiritus you order today will earn you money when it’s parked tomorrow.” Specifically the year 2023. Daymak said that the 3-wheel electric car will be the first car that can mine virtual currency, so it dares to loudly claim it will make you money when you are not using it. Spiritus will feature a technology called Daymak Nebula, a “patent-pending, comprehensive virtual currency infrastructure,” that includes the hardware needed to mine the cryptocurrency and a virtual wallet to store and use. use virtual currency. This will happen when , but Daymak did not specify whether mining virtual currency will affect the charging time or not (highly likely yes). Daymak Spiritus 3-wheel electric scooter introduction image Because Spiritus is a zero-emission vehicle, turning it into a virtual currency mining machine is also anti-pollution. That will solve the problem of mining facilities emitting large amounts of energy. Daymak also plans to share this revolutionary technology with other electric vehicle manufacturers through licensing. Aldo Baiocchi, CEO of Daymak and the man behind the entire Avvenire product line, says that cryptocurrencies are the future and this is how Daymak rose to win customers. “People will pay with virtual currency by 2023, and we are building these cars with that in mind,” Baiocchi said. “Daymak Spiritus is more than just a car.” Daymak Spiritus 3-wheel electric scooter introduction image The above words sound appealing, but anyway, at the moment, Spiritus is just a model that exists in computer images and 3D models only. Time will tell if Daymak’s vision turns into reality.

Bitcoin suddenly surged in the past 24 hours. According to Coinmarketcap, the amount of Bitcoin traded in the last 24 hours is about 35.9 billion USD, the market capitalization recorded at 697.4 billion USD. Many large-cap cryptocurrencies skyrocketed with Bitcoin. Specifically, Ethereum is up 3.6% to $2,608, Binance Coin is up 6.8%, Cardano is up 3%, Ripple is up 2.6%, Uniswap is up 7.3%, Bitcoin Cash is up 6.1%, Litecoin is up 2.6% 6.8%, Chainlink up 5.6%… The strong momentum of Bitcoin and leading cryptocurrencies caused the total capitalization to increase by 6.5% to more than $1,630 billion. According to many professional traders, the driving force behind the growth of Bitcoin comes from the fact that El Salvador – the first country to consider Bitcoin digital currency as legal. Channel France24 quoted El Salvador President Nayib Bukele’s statement on Twitter, saying that the Bitcoin Law has just been approved with a majority vote. The bill proposed by Mr Bukele to parliament last weekend was approved by 62 out of 84 MPs. “It’s a historical mark,” Nayib Bukele shared on Twitter. Before the vote, Mr. Bukele affirmed that the adoption of digital currency will bring finance, investment, tourism, innovation and comprehensive economic development to this Central American country. According to him, Bitcoin is the fastest way to transfer billions of dollars of remittances to El Salvador without losing millions of dollars to intermediaries. Remittances from El Salvadorans working abroad make up a major part of the country’s economy, equivalent to about 22% of gross domestic product. According to official reports, in 2020, the amount of remittances to this country will reach 5.9 billion USD. “This is the law that will make El Salvador a place of international interest. We will be more attractive to foreign investment.” Romeo Auerbach, Vice President of the National Union of Solidarity Party in El Salvador, said. Bitcoin is a highly volatile virtual currency. After reaching an all-time high at 64,800 USD on April 14, this virtual currency has plummeted without brakes. The reason comes from Elon Musk’s announcement that Tesla will stop accepting Bitcoin because of controversial carbon emissions issues and China’s tightening ban on cryptocurrency trading and banning Bitcoin mining rigs. Many countries have also recently introduced new regulations to control activities related to cryptocurrencies.

As the creator of Bitcoin when he released the first white paper on this currency in 2008, Nakamoto suddenly disappeared in 2011. After 10 years, the true identity of the “father” of Bitcoin is still unknown. Sketch of Nakamoto’s statue to be placed in Hungary. Photo: Réka Gergely. According to the Coin Telegraph , a statue of Satoshi Nakamoto will be erected in Budapest (Hungary) with the size of an adult. The face on the statue is mysterious, showing his unclear identity. The statue of Nakamoto in Budapest is made of bronze, the face is plated with a reflective layer so that viewers can see their own faces, emphasizing the saying “we are all Nakamoto” that Bitcoin investors often use. The Nakamoto casting project was started by András Györfi, a cryptocurrency advocate, with funding from four organizations including Mr. Coin, Crypto Academy, Hungarian Blockchain Association and Blockchain Budapest. Share with Hungary Today , Györfi highlighted the benefits of Bitcoin and blockchain technology for different sectors of the world. “This is an efficient, fair and transparent database that eliminates suspicion between people, bringing positivity to the world in many areas, from food supply to hospital distribution. support,” said Györfi The Nakamoto statue is expected to be located at the Graphisoft park in the 3rd district of Budapest. This park is also home to a statue of the late Apple CEO Steve Jobs. The statue was erected by Graphisoft, a software company in Hungary that Jobs invested in in the mid-1980s. Nakamoto’s statue will be placed near the cast of Steve Jobs. Photo: Wikimedia. This is not the first time that statues related to cryptocurrency have appeared. In 2018, the city of Kraj (Slovenia) placed a Bitcoin statue at a roundabout near the city court, consisting of a 7 m wide steel ring, containing the Bitcoin symbol in the center. Cryptocurrency is a hot topic in Hungary. On May 11, the government of this country announced to cut the cryptocurrency transaction tax from 30.5% to 15% in 2022, part of the country’s economic recovery plan after the pandemic. Expensive price for Bitcoin mining Since the advent of cryptocurrencies, the amount of electricity required for mining has increased significantly. This leads experts to believe that cryptocurrency mining is not environmentally friendly.

Accordingly, the image shared by Elon Musk shows a couple having problems in love. (Photo: Reuters) The girl said that the love affair between the two would end if the boy continued to post the lyrics of the group Linkin Park. And the guy replied, “So in the end it didn’t even matter?” – are the lyrics to the band’s famous “In The End”. With the hashtag #Bitcoin and a broken heart, along with a photo of an angry couple and the song “In the End,” it seems like Elon Musk is hinting that his love of Bitcoin is over. (Screenshots) Bitcoin immediately dropped 2.8%, to $37,800. Prior to that, Bitcoin was on a rebound from multi-month lows, to climb to nearly $40,000. The cryptocurrency market was also affected and dropped heavily after Bitcoin unexpectedly plunged. Before that, Elon Musk has repeatedly made Bitcoin and other digital currencies go up and down like a “roller coaster” with his tweets. (Image: POOL/AFP via Getty Images) Most notably, last month, he took a 180-degree turn when he decided to stop allowing customers to buy Tesla cars with Bitcoin, citing concerns that Bitcoin mining would harm the environment. “Tesla has stopped accepting car purchases with Bitcoin. We are concerned about the rapidly increasing use of fossil fuels for Bitcoin mining and trading, especially coal. Cryptocurrency is a good idea on many levels and we believe it has a promising future, but that cannot come at a cost to the environment. (Photo: AFP) Tesla will not sell any Bitcoin and we plan to use it for transactions as soon as we transition mining to more sustainable energy,” Elon Musk said in an announcement posted on Twitter on the 13th. /5. Even so, Bitcoin supporters still argue that this drop will be a stepping stone for the currency to continue setting new records in the near future.

In a statement on May 31, JBS USA said it detected an organized cyberattack that affected several servers that support the corporation’s information technology systems at its North American facilities. and Australia. JBS is the world’s largest meat processing company, with operations in many countries such as the US, Australia, Canada, Europe, Mexico, New Zealand and the UK. The company said no customer, supplier or employee data was leaked or used for shady purposes following the cyberattack. However, the company said it will take a long time to resolve this issue and as a result, some transactions with customers and suppliers may be disrupted. All US beef processing plants under JBS have stopped production, affecting nearly a quarter of the total supply in the US market. The company’s other meat processing plants were also disrupted to a certain extent. Photo: Visual China Although the company has not publicly stated that it is threatened by ransomware, the White House said the attack was ransomware, possibly from a group based in Russia, although JBS has not made it public. confirm this. White House spokeswoman Karine Jean-Pierre told Reuters the FBI was investigating. Ransomware is malicious software that encrypts a target’s system, preventing users from accessing and using their computer system or document files (mainly detected on Windows operating systems). In some cases, hackers also gain access to the target’s data and demand a ransom if they want to get the data back. Since November last year, a series of ransomware attacks have targeted well-known companies such as the US factory Foxconn, Apple’s Macbook Quanta laptop assembly partner, and the Colonel Pipeline pipeline company. Among them, Quanta has stolen a large number of drawings of the new MacBook, which has a certain effect on Apple. The hacker group asked Apple to pay a ransom of $ 50 million to not publicly publish the data they have, Apple flatly refused. Leading US fuel pipeline operator Colonial Pipeline has shut down its entire network following a ransomware-related cyberattack. According to CNBC, the company Colonial paid $4.4 million in ransom in the form of Bitcoin cryptocurrency to the DarkSide hacker group. For these companies, there are two issues that need to be considered: First, why the security team can’t resist hacker attacks; second, what role does cryptocurrencies play in these transactions? The “fragility” of businesses before a cyber attack When you hear the word “cybersecurity,” you probably think of large companies or government organizations that invest tens of millions of dollars in firewalls, anti-virus software, and other security protocols to protect their systems from potentially malicious attacks or data leaks. Or you would think of the large internal cybersecurity teams who are knowledgeable and know how to deploy the latest technology to fight hackers and protect corporate information. The reality is that security issues affect every company – from the smallest store, fledgling startups to the largest multinationals. Any system is not immune to loopholes, and hackers who have the guts to attack large businesses are organized and premeditated. The security team of a large enterprise cannot avoid negligence, giving hackers the opportunity to take advantage. Hackers take advantage of cryptocurrency to make blackmail transactions Photo: QQ After successful attacks, many hacker groups now demand ransom in the form of cryptocurrencies, namely Bitcoin instead of real money. All transactions are assigned to Bitcoin addresses, but this address is not assigned to a specific person or organization. To increase anonymity, each transaction you can use a Bitcoin address to send and receive money, no one can know who you are. So Bitcoin is definitely the best choice when it comes to making illegal transactions. As the most valuable cryptocurrency today, Bitcoin has become a favorite object of hackers. The market value of cryptocurrencies skyrocketed around October of last year. Since mid-May of this year, this market price has been continuously falling, but it seems that the cryptocurrency still has a chance to explode again. In 2017, a type of malicious code called WannaCry opened a huge cyber attack in 150 countries, causing many users’ files to be locked. If they want the right to unlock, the victim has to pay the hackers 300 USD worth of Bitcoin. In 2019, hackers attacked the city of Baltimore (Maryland state, USA), froze thousands of computers, turned off emails … and demanded the city pay about 100,000 USD in Bitcoin. Ransomware attacks will get stronger and stronger Photo: QQ According to Ekram Ahmed, a spokesman for cybersecurity firm Check Point: “Hackers are pursuing larger and more advanced targets because they know they can succeed. Networks like Colonial paid $4.4 million in ransom, ransomware monetization will attract many new entrants. Things are getting worse, and I firmly believe that ransomware is now a national security threat.” . The consecutive attacks signal a worrying trend in ransomware attacks, especially those that can cause major disruption. Ransomware attacks are becoming more and more common, although hackers often find smaller and more vulnerable targets, less network security, and will pay a ransom to keep their systems normal. usually return as quickly as possible. Cryptocurrencies like Bitcoin have made it much easier for hackers to obtain ransoms. “Ransomware is now a lucrative business for hackers. Since the beginning of 2020, the number of organizations affected by ransomware has increased by 120%.” According to a recent report by cybersecurity firm Sophos, the average cost of recovering from a ransomware attack also appears to have doubled. Software company Chainalysis determined that $350 million was spent on ransomware ransoms in 2020. But it can be difficult to know the full scale of the attacks and the amount of ransom paid, because many the company did not report them in the first place. CNA Financial Corporation, one of the largest insurance companies in the US, paid $40 million in ransom last March, which was revealed only two months later. Law enforcement agencies advise businesses hit by ransomware not to pay the ransom, and say it will encourage hackers to continue demanding increasingly high amounts. However, not every company has the technological capabilities to deal with a group of hackers as sophisticated as Apple.

Billionaire Elon Musk – Photo: Bloomberg Recently, Elon Musk’s tweet about the popular children’s song on YouTube “Baby Shark” helped the stock price of a related company increase sharply, according to Bloomberg. Specifically, on the morning of June 2 (Asia time), Musk tweeted: “Baby Shark crushes them all! Views are more than the population of the earth.” Immediately, the share price of Samsung Publishing Co., a shareholder of the “Baby Shark” manufacturer, increased by 10% to the highest level since May 7. Since 2018, when the song became popular, the stock price has quadrupled. The song “Baby Shark” (Doo Doo Doo Doo Doo Doo) started to hit the headlines in 2018, charting on the Billboard Hot 100 for weeks and now has nearly 8.7 billion views on YouTube. Even last month, a virtual currency named Baby Shark. The influence that turned the financial markets around from Elon Musk’s tweets made many investors concerned and called for authorities to step in. Many losers angrily urged him to stop using Twitter. Earlier this year, the move to change the personal description on Twitter to #bitcoin led many investors to speculate that the world’s richest billionaire bought into Bitcoin, pushing the price of this virtual currency up 20% to $ 38,566 – a record level. record that time. Less than 24 hours later, Elon Musk sent the stock price of CD Projekt, the company behind Cyberpunk 2077, up more than 12% after announcing on Twitter that Tesla’s new Model S Plaid electric car version would allow the guests play this game in the car. Not long after, the Tesla boss sparked a wild rally in GameStop stock after tweeting: “Gamestonk!!” with a link to WallStreetBets – a subpage of the Reddit information aggregator website. “Gamestonk” is a combination of GameStop and “stonks” – a slang word for stocks. “He knows he has great influence and has shown he enjoys playing with it, even if it hurts his followers,” said Heidi Chakos of Portugal, a Bitcoin investor. since 2014, told the Wall Street Journal. Meanwhile, Freetrade analyst Dan Lane said: “It’s ironic that Elon Musk has the ability to shake the market. Maybe it’s time to discuss the legality of this.” While waiting for the authorities to step in (if any), many investors still look to Musk’s tweets for investment direction, even considering him as a “hero”. Although later, when they lost, they turned to criticize him. However, it should be clear that, while the Tesla boss makes a point on everything from cryptocurrency Dogecoin to GameStop stock, he is actually an entrepreneur, not a portfolio manager. fourth. Musk isn’t the only one influencing the market through social media. Over the past year or so, many celebrities, from hedge fund managers to CEOs and entertainment stars, have taken advantage of platforms like Twitter, Reddit, Clubhouse, and more to express their views on everything from cryptocurrencies to stocks.

Meanwhile, Ether – the world’s second largest cryptocurrency – saw a 40% drop in price from a peak of $4,382 per coin to over $2,600 per coin. Bitcoin price plummeted after Tesla CEO Elon Musk announced that the company would stop accepting Bitcoin payments. Along with that are regulatory risks from the Chinese government. However, experts say that the fall of cryptocurrencies could be an opportunity for Ether to surpass Bitcoin. The explosion of decentralized finance and non-fungible tokens has pushed the price of Ether to skyrocket over the past 12 months. Photo: Coin Desk. “More Useful Than Bitcoin” “A sell-off will cause investors to reconsider and choose to buy the cryptocurrency they think can be most successful. And most importantly, that coin needs to survive the ‘regulatory storm’ ‘ is about to come,” said financial expert Edward Moya at consulting firm Oanda (USA) in an interview with Mr. Zing . According to the expert, Ether will benefit after this sell-off. “Ethereum’s blockchain is widely used. The coin may outperform other competitors after the storm is over,” he added. Yao Qian, director of the Science and Technology Supervision Bureau under the China Securities Regulatory Commission, said that central bank digital currencies (CBDCs) are set to become smarter. According to him, they could one day work on blockchains like Ethereum. Mr. Yao Qian said that CBDC should not try to be a form of digital currency, but incorporate smart contract functionality. Even after the decline, Ether price is still up 243.67% since the beginning of 2021. Meanwhile, Bitcoin has only increased in price by 25.93%. Todd Morley – co-founder and former CEO of investment firm Guggenheim Partners – thinks that Ethereum is “more useful than Bitcoin” and is “where it really works”. The increase since January 1, 2021 of the Bitcoin price has shrunk to nearly 26%. Photo: Coin Desk. “To me, Ethereum is much more useful than Bitcoin thanks to smart contracts,” he told Bloomberg . “Ethereum’s application developers are growing at 20x for 6 years in a row, much faster than Moore’s Law,” he added. Moore’s Law refers to the prediction by engineer Gordon E. Moore, co-founder of Intel, that the number of transistors on a chip would double every two years while the price of computers halved. Over the past 12 months, the popularity of DeFi (decentralized finance) has skyrocketed, pushing up the price of Ether. DeFi projects pay interest on Bitcoin or Ether deposits, mortgage loans or cryptocurrency swaps on decentralized exchanges. Soon to surpass The Ethereum network is therefore used for financial management, lending, and collateral. All without banks and brokers. Along with that is the hot development of non-fungible tokens (NFTs), a virtual item authenticated by blockchain technology, with the digital signature of the owner. NFT is an indivisible, indivisible, blockchain-based smart contract, indestructible, verifiable, and no-second duplicate asset. Everydays: The First 5000 Days by crypto artist Beeple sold for $69.4 million at a Christie’s auction. According to part of a report by Wall Street giant Goldman Sachs shared on Twitter back in May, Ether has many opportunities to “overtake Bitcoin as the dominant store of value” and the “Amazon of information.” . Ether has a high chance of surpassing Bitcoin as a store of value Golmand Sachs analysis team “Given the importance of its use in defining a store of value, Ether has a high chance of overtaking Bitcoin as the dominant store of value,” commented analysts at Goldman Sachs. According to the data of Coin Desk , Ether’s market cap currently stands at $305 billion, almost half of Bitcoin’s $691 billion capitalization. Some are also looking to upgrades to the Ethereum network, allowing Ethereum to scale and reduce costs. “Investors often see Ether as a growth investment. They bet on the growth of a decentralized ecosystem built on top of Ethereum,” said Phil Bonello, Research Director at Grayscale Investments. , comment. The Ethereum network is more used than Bitcoin and countless developers are still working. Bitcoin now accounts for about 42.3% of the total cryptocurrency market value, down from 70% at the beginning of the year. Ether’s rate is 18.65%.

“This group leaves cash in specific places – behind a bush or under a bus seat – for criminals to get. They send specific location instructions. This is a whole new profession.” Financial Times quoted Dr. Tom Robinson, founder of Elliptic organization specializing in analyzing cryptocurrency transactions. The dark web site Hydra (Russian) offers a variety of methods for criminals to exchange cryptocurrency for cash, for example exchanging Bitcoins for gift certificates, debit cards or iTunes vouchers. Special software is required to access the Hydra dark web. Photo: ZDNet. Anonymous but still leaving traces According to experts, the ability to store cryptocurrency without providing an identity makes this currency especially attractive to many criminal gangs, especially hackers specializing in breaking into networks of businesses. and demand ransom. Statistics from research firm Chainalysis show that in 2020, businesses and organizations paid at least $350 million in cryptocurrency ransoms to a number of hacker groups, including DarkSide, the group that attacked the pipeline system. Colonial Pipeline earlier this month. But while anonymous, cryptocurrency transactions are recorded on an immutable blockchain system, leaving a clear trail for anyone with any knowledge of the technology. A number of investigative firms have been established to assist national authorities in tracking various criminal gangs by analyzing the flow of cryptocurrency transactions. Chainalysis (headquartered in New York, USA) is one such company. Binance cryptocurrency exchange. In 2011-2019, cryptocurrency exchanges supported the conversion to cash of about 60-80% of Bitcoin transactions by criminal groups. Photo: Binance. Chainalysis raised $100 million in its initial public offering, reaching a valuation of over $2 billion. There are also Elliptic (headquartered in London, UK) and CipherTrace, a company supported by the US government. Chainalysis said that in 2020, some illegal organizations receive about 5 billion USD and transfer 5 billion USD to other organizations. This represents almost 1% of all global crypto flows. Initially, the criminals only withdrew funds through major cryptocurrency exchanges. Elliptic estimates that between 2011 and 2019, cryptocurrency exchanges supported the conversion of about 60-80% of Bitcoin transactions by illegal organizations into cash. Take advantage of crypto ATMs Since last year, exchanges have been concerned about the tightening of regulations by many governments, so they have begun to apply anti-money laundering (AML) and customer identity verification (KYC) processes. This change pushes criminals to unlicensed exchanges. Still, expert Michael Phillips of online insurance company Resilience said that unlicensed exchanges have low liquidity, making it difficult for criminals to convert crypto to fiat. “The goal is to make it more expensive for criminals to convert money,” he explained. However, criminals still have a way around. Research by Chainalysis shows that some intermediaries are quietly assisting gangs in conducting many illegal money conversion transactions. Meanwhile, small-scale transactions still flow through more than 11,600 crypto ATMs worldwide without any control, or through gambling sites that accept crypto payments. Criminals can use crypto ATMs to get cash. Photo: EPA. Faced with that situation, crypto security companies use the technology of analyzing blockchain transactions and intelligence to determine which crypto wallets belong to criminal gangs. At the same time, they provide an overview of the global crypto crime ecosystem. As a result, companies discovered that many hacker groups lease ransomware to criminal networks. Kimberly Grauer, director of research at Chainalysis, said hackers also pay support services to other criminal groups in cryptocurrency. Thus, a criminal cryptocurrency ecosystem has been formed on a global scale. “We were able to see the ransom transactions, how the gangs split the money and how that money went to groups in the system,” Grauer said. The tricks are getting more and more sophisticated However, cybercriminals are increasingly using a variety of high-tech tools to obscure the traces of cryptocurrency transactions. Some criminals use “chain-hopping” – repeatedly switching between different cryptocurrencies – to avoid the eyes of security companies. In addition, they use a “privacy cryptocurrency” like Monero, which has a high degree of anonymity. Another tool commonly used by criminals is a “mixer,” a third-party service that mixes illegal cryptocurrencies with clean money, before pushing them back onto the market. In April, the US Department of Justice arrested a Swedish citizen of Russian origin, who specialized in operating a “mixing” service called Bitcoin Fog. During the past 10 years, this guy has transferred a total of 335 million USD in Bitcoin. Governments need to modernize confiscation and asset freezing processes to make it easier to confiscate cryptocurrencies from exchanges. Tom Kellerman, director of cybersecurity strategy at VMware V “It is possible to untangle mixed cryptocurrencies. However, that requires high technology and a lot of processing and data power,” said Katherine Kirkpatrick, director of law firm King & Spalding. According to Elliptic, the popular 2020 coin mixers are highly anonymous “personal wallets”. They supported 12% of Bitcoin wash transactions last year. Tom Kellerman, director of cybersecurity strategy at VMware and a member of the US Secret Service’s advisory board, said that governments need to modernize the process of confiscating and freezing assets for law enforcement. easily confiscate cryptocurrencies from exchanges. In the past, blockchain security experts have floated the idea of ​​sharing a “blacklist” of crypto wallets used by criminals with exchanges, analytics firms, and governments. “Now is the right time to consider that initiative.” he Kemba Walden of Microsoft’s Digital Crimes Unit.

“Many large mining owners have contacted me to move their rigs to North America, Europe, Kazakhstan,” Edward Evenson, business development manager at mining firm Slush Pool, said on Twitter. Where does the owner of the Chinese coin farm move? According to Mr. Evenson, the large ASIC mining pools in Xinjiang are being moved to other regions in Central Asia. However, many new batches of miners from companies such as Bitmain, MicroBT are moving directly to North America. Bitcoin farm owners in China will have to find new locations to operate, after the country’s government announced a ban on mining. Photo: Bloomberg. This expert said that the coin farmers who contacted him to move out of China own a miner with a total power consumption of up to 400 MW. This is equivalent to the entire electricity consumption of all Bitcoin mining pools in Quebec, Canada. Meanwhile, Dovey Wan, founder of consulting firm Primitive Ventures, said that in addition to Pakistan and Kazakhstan, countries that are near and have policies to attract Chinese businesses, many companies can choose to move machines. dug into Africa because electricity here is very cheap. Michael Saylor, CEO of MicroStrategy, believes that major mining companies in China will gradually move to the US. “I think in the near future most of the mining capacity will be going to the US and some other parts of the world,” Saylor, a frequent crypto advocate, said in an interview with Cointelegraph. CNN . Many Chinese regions such as Inner Mongolia, Xinjiang, and Sichuan are home to large Bitcoin mining factories. Photo: Bloomberg. Before China strongly banned Bitcoin mining, mining in the country accounted for 65% of the global Bitcoin mining capacity. Immediately after the ban, BTC.TOP, which accounts for 2.5% of Bitcoin capacity, announced the cessation of operations in the Chinese territory. According to the Coin Telegraph In the past few years, the region of Quebec, Canada has also become an attractive area for coin ranchers because of cheap electricity and many hydroelectric plants. This is considered a green energy source, with less emissions than thermal power plants. “There are currently about 90 companies in this industry operating in Quebec,” said Jonathan Côté, representative of Hydro-Québec hydroelectric power company. Mr. Evenson assessed that the diversification of the location of coin farmers has taken place in the past, but China’s ban on mining will accelerate this process. China bans mining but still dominates the world coin market One of the most controversial topics of the past few years has been the dominance of mining pools in China over the rest of the world. Many cryptocurrency advocates fear this outperformance will make Bitcoin’s decentralization worthless. China’s ban on Bitcoin mining may create hope that mining capacity will be less concentrated in large Chinese companies. However, experts say that no matter where they move to operate, the mining camps still belong to the Chinese. “Whether registered and operated in another region such as the US, Kazakhstan or Africa, the truth is that the mining pools still belong to Chinese companies. This transition only makes centralized networks difficult. more monitoring,” said Mrs. Dovey Wan. Yusan Zheng, founder and director of fund management company Waterdrip Capital also believes that China’s ban on mining will make it difficult for small companies, and large companies to benefit. “To find new locations for mining camps, companies will have to spend a lot of money. Only large, experienced companies can go through this stage,” said Mr. Yusan Zheng during the meeting. chat of CoinDesk . According to many experts, even if China bans mining, the world’s largest coin farms still belong to the Chinese. Photo: Bloomberg. Centralization has always been a threat to Bitcoin in particular, and all cryptocurrencies operating on the blockchain in general. If all the newly created Bitcoins were in the control of a few large companies, the neutrality and accuracy of the blockchain would be at stake. Inner Mongolia, one of the regions with the most mining camps in China, has recently proposed multiple penalties for miners. According to the proposed bill, telecommunications, Internet, software parks, or even internet companies that mine or provide resources for mining could have their electricity cut off, withdrawn or even confiscated. license revocation. The bill also stipulates that violators will be blacklisted for their social credit scores, meaning they won’t be able to borrow money from banks or use public transportation. Previously, the Inner Mongolia government also announced a hotline for people to call and report cases of illegal mining. Coin Telegraph The ban on Bitcoin mining will bring many benefits to China. The country has both met its climate target and can boost circulation of the digital yuan as cryptocurrencies are banned from trading. Meanwhile, Chinese businesses operating coin farms abroad will still have to pay taxes.

Bitcoin digital currency. (Photo: AFP/VNA) On May 28, British police said they had discovered a case stealing electricity large capacity to mine the digital currency bitcoin. Specifically, in a dismantling of a cannabis plant, the anti-narcotics police force in England suddenly discovered an organization Bitcoin “mining” using a large power source to steal from the national grid. The facility is located in an industrial area in Birmingham – the UK’s second largest city. Through inspection, the police discovered about 100 computers dedicated to “mining” bitcoin. At the time the police arrived, there was no one at the facility. The case is currently under investigation. The digital currency “mining” system consumes a large amount of electricity, so some lines specializing in “mining” cryptocurrency in the world often choose to steal electricity to reduce costs and increase profits. According to Deutsche Bank, “mining” bitcoin alone consumes the same amount of electricity as Switzerland consumes each year. On May 12, the world’s largest electric vehicle maker Tesla (USA) announced that it would stop using bitcoin in its car sales due to concerns about environmental issues. CEO (CEO) of Tesla, American billionaire Elon Musk states: “Tesla stopped using bitcoin car sales. We are concerned about the growing use of fossil fuels for bitcoin mining and trading, especially coal – the worst-emitting fuel.” Iranian President Hassan Rouhani has announced a four-month ban on all crypto-mining activities after many major cities suffered power cuts due to power shortages.

According to the Businesstoday , immediately after appearing on several exchanges, the price of this cryptocurrency increased by 1,000% in just 24 hours. From around 0.17 USD per coin, the price of DubaiCoin increased to 1.13 USD on May 27. The developer claims that DubaiCoin will soon be used in a series of product and service transactions both offline and online, replacing traditional fiat currencies. Currently, the value of DubaiCoin has reached 0 USD after the Dubai government announced that this digital currency has not been approved by any authority. DubaiCoin rapidly increased in price after its launch. Photo: Businesstoday. Not too long ago, an emerging coin that also caught the eye was Polygon from India. The famous “shark” billionaire on the show Shark Tank, Mark Cuban, has publicly supported and invested in this cryptocurrency. Currently, Polygon’s market capitalization is over 10 billion USD and is among the 20 largest cryptocurrencies in the world. On May 28, the cryptocurrency market showed signs of recovery. Bitcoin was trading at above $38,000/BTC at around 9am. This coin has still not been able to surpass the $ 40,000 mark in the context of China’s strict policies on mining and trading in coins. Since mid-April until now, the Bitcoin price has dropped by about 30% due to China’s policy and Elon Musk’s open tweets. The owner of the net shop unplugs the machine, digs coins and waits for the translation to end Due to the impact of the Covid-19 epidemic, Mr. Nguyen Minh Quan (Thu Duc City) had to close the net shop, remove the graphics card to dig coins, earn extra income waiting for the reopening of the shop. Businesstoday

The new digital currency Chia consumes a lot of hard drives. Photo: Guardian The Guardian (UK) reported that American businessman Bram Cohen created a digital currency called Chia. Accordingly, Chia aims to be more advanced than Bitcoin and Ethereum in reducing the energy consumed to mine. Cryptocurrency mining often depends on high power consuming computers to handle complex algorithms. However, Chia requires the user to spend a large amount of control to form and store any number of numbers. Given the fact that the price of cryptocurrencies has skyrocketed in recent times, the demand for hard drives specifically for Chia mining has also skyrocketed. A type of semiconductor drive (SSD) called NVMe, which is used to generate random numbers, is also highly sought after. Over the past week, the prices of hard drives and NVMe have been on an uphill trend. One point worth noting is that SSDs are inherently limited in number. Digital currency expert David Gerard told the Guardian: “Instead of consuming power, Chia gobbles up SSDs at a special rate.” According to CoinMarketCap on May 26, in the last 24 hours, there was 50 million USD worth of Chia traded, quite modest compared to 50 billion USD of Bitcoin. However, Chia’s potential keeps the demand for hard drives still on the rise. In the past, graphics cards, which have been an important element of video games and artificial intelligence research, have also fallen into sharp shortages due to demand from Ethereum miners. In another development, on May 26, Iran issued a ban on Bitcoin mining to prevent power shortages.

On May 18, ETC (Ethereum Classic) was trading for $89, while ETH (Ethereum) was up to $3,407. It can be seen that, with a cheaper price, ETC is a superior choice to own Ethereum that investors should consider switching. In terms of features and structure of the Ethereum Classic (ETC) coin, there are some differences compared to other cryptocurrencies, but the most important is still buying in large quantities and owning a lot of cryptocurrencies with low price less costly payments. In terms of arbitrage performance, as of May 2021, the price of Ethereum (ETH) has increased by 367%. Besides, the results of the tally on the floor Yahoo Finance The end of 2020 also shows the ETH price ending at $730.37. As of May 18, it was at $3,407. That shows that the value of ownership has increased 4.67 times compared to the end of December 2020, equivalent to an increase of 267%. According to the data of Yahoo Frinance, c We should look at the net worth of ETC at the end of 2020 at $5.70. This means that ETC has increased by 15.64 times (equivalent to a performance of 1,464%). It is clear that the above indicators have shown that Ethereum Classic has significantly outperformed Ethereum, equivalent to an increase of 1,464% compared to 367%. That’s 4x better performance. Ethereum Classic is up 1,464 percent compared to ETH’s 367%, which translates to four times the performance. Photo: Internet. Outstanding Features of Ethereum Classic Ethereum Classic (ETC) is a cryptocurrency created and developed from the Blockchain technology of Ethereum (ETH) after the DAO fund of Ethereum investors was hacked which stole more than 50 million USD. From the moment it was created, Ethereum transactions have been running on the Ethereum Classic Blockchain platform until it is done.” hard fork” then these two blockchains officially operate separately. The result of the split process due to the policy adjustment but the project development participants did not agree and a batch “fork” is the split among crypto developers that took place in 2016. Ethereum Classic still carries the same features as Ethereum such as the implementation of smart contracts and distributed applications. Ethereum Classic has similar specifications to Ethereum such as average block time, size, and block reward. Ethereum Classic has a circulation limit of 210 million tokens, which is different from Ethereum’s unlimited issuance. According to the Coinmarketcap , ETC was issued 116.3 million tokens, representing 55.4% of the total expected. The circulating supply of Ethereum Classic reaches 50% and is likely to be “squeezed” by the number of tokens like Bitcoin – as the double mining difficulty caused Bitcoin’s price to surge earlier this year. Photo: Coinmarketcap. As predicted by technology experts, ETC’s token is similar to a tight squeeze like Bitcoin (BTC) in the near future. Bitcoin had 18.7 million tokens issued out of a total of 21 million, or 89% of the total. Since less than 11% of all Bitcoins currently available can be mined, there is a marked increase in production rate pressure on investors once the price rises as with Bitcoin. At the end of 2020, Ethereum Classic Labs allowed ETC holders to gain access to the DeFi (decentralized finance) market. They introduced “Wrapped ETC” (WETC), which allows ETC holders to “stake” their tokens. This is where they agree not to trade tokens for a specific period of time and in return receive interest payments in “Wrapped ETC”. In fact, it’s the same way a certificate of deposit works at a bank. WBTC allows users to transfer their tokens from one Blockchain to another, extending the utility of the token to work across multiple networks. Easy migration brings greater liquidity to the Ethereum ecosystem including decentralized exchanges (DEXs) and financial applications. What to do with Ethereum Classic? Some see the Ethereum Classic (ETC) token as a way to make money faster on the Ethereum Blockchain platform. The current market cap is $10.3 billion and that of Ethereum (ETH) is $395 billion. So the value of ETC is only 2.6% of ETH. Assume that, ETC achieves a market cap of $39.5 billion (10% of ETH). At that point, ETH will be boosted by at least 50%, which equates to an ETC market cap of $60 billion (10% of $600 billion). Equivalent to the growth rate of ETC is 600% compared to 50% of ETH. Let’s say it’s going to take us three years for this to happen. That implies a gain of 482.5% over three years representing a very attractive return on investment (ROI) rate for investors. That’s 90x faster than ETH’s 50% gain. ETC-USD is likely to ‘catch up’ and grow 90 times faster than ETH-USD over the next three years. Photo: Tygia.vn Given the meteoric rise of Ethereum (ETH) this year and ETC’s ability to “catch up” seems possible. Therefore, many investors in Ethereum should think of diversifying crypto trading by buying more ETC as an alternative to ETH.

The move comes after Chinese Vice Premier Liu He said last week in a statement that it was necessary to “suppress the behavior of Bitcoin mining and trading” to prevent “the transmission of personal risk to social spheres”. Those comments are seen as Beijing’s intention to further block Bitcoin trading and other crypto-related activities. Inner Mongolia’s latest draft proposals are aimed at telecommunications and internet companies involved in cryptocurrency mining. The Inner Mongolia Development and Reform Commission said such companies could have their business licenses revoked if they are found to be involved in Bitcoin mining. In addition, cloud computing or data centers may have their government incentives revoked. In addition, there are severe penalties for individuals involved in money laundering through cryptocurrencies. Inner Mongolia’s tough stance on crypto mining began in March after it announced plans to ban new crypto mining projects and shut down existing operations to cut consumption. energy. China’s Northern Region failed to meet Beijing’s energy use targets in 2019 and subsequently set out a plan to reduce power consumption. In the case of Bitcoin, miners purposefully use computers to solve complex mathematical puzzles that allow a Bitcoin transaction to take place efficiently. These miners are rewarded with Bitcoins. But because the computer has a large capacity, it consumes a lot of energy. According to the Cambridge Bitcoin Electricity Consumption Index, Bitcoin mining consumes around 112.57 terrawatt-hours (TWh) per year, more than the consumption of countries like the Philippines and Chile. China accounts for about 65% of the world’s Bitcoin mining. Of that, Inner Mongolia accounts for about 8% globally due to cheap energy prices, a larger share of Bitcoin mining in the United States. China’s tough stance towards cryptocurrencies is not new. China previously shut down local cryptocurrency exchanges in 2017 and that same year also banned initial coin offerings (ICOs). But Bitcoin trading continues to operate in China even though exchanges have moved overseas. Inner Mongolia’s scrutiny of Bitcoin mining activity in particular comes as China tries to continue the move. Chinese President Xi Jinping said last year that China has set a goal of becoming carbon neutral by 2060. But according to a study published in Nature Communications in April 2021, Bitcoin mining could “undermine emissions reduction efforts” going on in the country. The energy consumption of Bitcoin mining operations came back into focus in early May after Tesla CEO Elon Musk said the electric carmaker would stop accepting the digital currency for the reason due to environmental concerns. On Monday (May 24), Musk said in a tweet that he has met Bitcoin miners in North America and that they are “committed to announcing current and planned uses of renewables.”

Many people are curious about the owner of the Dogecoin account worth 12 billion USD – Photo: iStock. The story behind the man who owns the world’s largest Dogecoin virtual currency account is probably not as attractive as the story of investors on social networks like Elon Musk or his fans. However, since the beginning of the year, with the price of Dogecoin increasing by more than 100%, the account value has reached 12 billion USD, making many people curious about its owner. According to Business Insider, this Dogecoin “shark” account has the address DH5yaieqoZN36fDVciNyRueRGvGLR3mr7L, owning a total of 36.7 billion Dogecoins since 2019, equivalent to 28% of the total number of Dogecoins in circulation. Many analysts and investors began to dissect who is behind this “huge” virtual currency account. Some people even send a small amount of Dogecoin to the above “shark” account to try to find out the identity of the owner. “The above account could be linked to a cryptocurrency exchange,” said Patrick Lodder, a core developer of Dogecoin. Working for the Dogecoin project since 2014, Lodder said that anyone can send Dogecoin coins to a public account, but the amount deposited into an account cannot be a “clue” for identification. account holder, unless it is an extremely large amount. Buying Dogecoin since 2019, the above “shark” account is rarely sold. The last sale was 100 million Dogecoin in April 2021 and is also the only sale this year. Based on this information, CoinDesk’s director of research suggested that the account must be owned by an individual, not a transaction. In response to this information, Lodder said it could be a cold wallet of an exchange. “An exchange that manages a lot of Dogecoin might not keep it on a server but store it offline – on a cold wallet, for example. This explains why there are not many sales from this account. With such a high value virtual currency account, it is safer to store it in a cold wallet,” Lodder analyzed. Lodder said the only way to determine for sure who the account owner is is for the person to speak up and present evidence, but this is a risky job if you look at the “terrible” account value. “above. On social networks, countless speculations about the owner of the above account. Following the data on the blockchain, an account on the news site Reddit hypothesized that this “shark” address could be one of the cold wallets of Robinhood – the famous free-to-use stock exchange. in U.S.A. This theory is agreed by more than 4,000 people in the Reddit community. However, many others believe that this account may belong to “Dogecoin father” Elon Musk. Like many other cryptocurrencies, Dogecoin is a decentralized currency, not managed by an authority or entity. This makes it more secure and less vulnerable to change by any entity. However, this also creates rumors of lack of control and endangers the coin. “Rumours of ‘sharks’ selling Dogecoins can scare investors into selling,” Lodder said. Dogecoin was born in 2013 as a satire to the crazy craze of virtual currency and was designed with the design concept from the famous “Doge” trend on the Internet. Dogecoin was not originally created as a means of payment but simply as a joke. However, this virtual currency is still bought and sold on virtual currency exchanges. Dogecoin often increases in price when it is promoted by famous individuals on social networks. In early 2021, Dogecoin was only $0.004, even when Bitcoin – the largest virtual currency on the market – skyrocketed to nearly $30,000. In early May, this virtual currency set a record of $0.718/Dogecoin.

Before this fluctuation, many users wait for the price of VGA to decrease, to buy a graphics card to install in their computer at a cheaper price. However, this is unlikely to happen. “Even when the coin price has plummeted, people who install buffalo plows are still profitable for many reasons. VGA is still sold out in the market, so there is no reason to reduce the price too deeply,” Nguyen Bao, manager at a major computer store in Ho Chi Minh City shared with Zing . Coin price falls, “plowers” are still profitable “Plowing” coins is actually the process of using machines to perform calculations to validate transactions on the blockchain network. This concept holds true for Bitcoin, Ethereum, and coins that use Proof of Work (PoW) consensus. Currently, the “buffalo” installations with computer graphics cards mainly plow Ethereum. Although the price of Ethereum has plummeted, the market for buying and selling “buffaloes” is still very active. Photo: Chi Kien. When a transaction is validated and a block is completed, the fastest finisher will be rewarded with a pre-specified amount of cryptocurrency. From the performance of the computer and the difficulty of the network, the plow system owner can estimate how many coins he will collect per day. Since the number of people participating in Ethereum mining fluctuates constantly, the difficulty of mining also changes. If mining during a period of low prices, but many people quit mining, the difficulty decreases, the “farmers” plow coins still earn more Ethereum per day. As a result, they are still profitable. “Participants in plowing coins are only interested in profit. Although the price has decreased, but every day they dig more, they are still profitable. Therefore, looking at the price of Ethereum falling and saying that VGA is going to be cheap is not baseless,” said Mr. Bao. Compared to the beginning of January, the price of Ethereum has increased by about 3 times. As a result, market participants “plowing” the coin were profitable. When using applications on the Ethereum blockchain, users pay a small fee called a gas fee. This fee is also charged in Ethereum. In addition to the reward for completing a block, the farmer who plows the coin is also entitled to a portion of the gas fee. According to Etherscan, the price of gas has increased over the past few days due to many participants trading on the Ethereum network. Screenshots. During the volatility of the market, the number of investors pouring money into trading also increased. According to statistics from Etherscan, gas fees increased sharply on May 19, which is also the day the entire cryptocurrency market plummeted. In other words, once participating in the mining network, mining rig owners have many opportunities to earn money. The profit from the rig is not entirely dependent on the price of the cryptocurrency. Don’t wait for VGA prices to drop in the near future VGA price in the market still depends on supply – demand factors. The demand of miners has increased sharply, while ordinary users still need to buy cards to play games and work, making the balance of “demand” always heavy. Meanwhile, the source with VGA is not guaranteed. The global chip crisis lasted for the past year, making it difficult for manufacturers to ensure output. Domestic distributors, even if they wanted to, could not import large quantities. “Every month we can only import a few hundred VGAs. This quantity is much lower compared to other components. It is very difficult to meet the needs of dealers,” said The Vuong, a product manager at a distributor based in Hanoi. Many “buffalo plow” owners have broken even, so there is no need to sell off the rig when the price drops. They profit from the reduced difficulty, even willing to shut down if necessary to wait for the price to rise. Photo: King Kai. According to information from some dealers, the price of VGA in Vietnam market is still cheaper than surrounding countries such as Thailand and China. Therefore, the amount of VGA imported has been less and sometimes has to be shared with other markets. On groups that share the experience of installing buffalo plowing machines, the market for mining rigs is still very active, the number of daily new buy and sell posts is still very much. Occasionally there are questions and answers about the situation when the price of Ethereum goes down, but many rig owners are still very optimistic. “Actually, many people buy the system and then give it to someone else to manage, and collect money every month. It’s very easy to do. Those who joined early have now broken even, just less profit. Those who have participated for a long time understand the market too well, they can’t easily sell their ‘fishing rods’,” said Mr. Bao. In June, a number of component manufacturers will launch a VGA line with poorer performance of “ploughing coins”, called lite hash rate. Due to inefficiency when plowing coins, this VGA line may be less attractive to plowmen and suitable for gamers. However, not excluding the possibility of price fluctuations, Ethereum’s difficulty makes mining rig owners also “empty” low performance when needed.

According to Mr. Cong, during more than 2 months of mining Chia, the actual amount of copper received back only stopped at 3 units. Currently, on the Huobi exchange, Chia is being valued at $820. This means that after 2 months and 3 billion of capital, he earned about 56 million VND. Fear of missing out on green Bitcoin The reason given by Mr. Cong is that although Chia saves electricity, it is difficult to compete with the super mines in China. Besides, the dramatic drop in the price of cryptocurrencies in the past week also increased the payback time of Chia mines. The hard drive is what determines the success or failure of Chia mining. “I invest a lot of money but I am quite vague about my income. The reason is that I fear that I will miss the opportunity to get rich like the way Bitcoin created 4 years ago. There were very few Bitcoin miners back then, I was one of the first. That’s why I have faith in Chia. But things don’t seem to be as I thought,” Cong said. According to Mr. Cong, his Chia mining system uses a 6TB HDD. Each of these hard drives costs 6.5 million VND. The number of hard drives in Mr. Cong’s mine is close to 300. Previously, the price of HDDs was only about 2-4 million VND. However, the wave of Chia mining has made the hard drive double in price. To cope with the huge write rates of Chia miners, many memory manufacturers have designed SSDs specifically for this purpose, like TeamGroup’s T-Create Expert model with a write limit of up to 12,000 TB. Amazon Web Services also recently opened a Chia mining service for the Chinese market. Hard drives increase in price, are in short supply but still have to buy more “In the game of chia mining, whoever has the most large capacity hard drives, that person has a higher chance of winning. And the winners at this point are the mining pools in China. They buy large quantities of hard drives at very high prices to gain an advantage in the market,” said Mr. Reply Zing , a representative of GearVN store confirmed the shortage of goods with large capacity drive models. However, this company’s customers, mainly individual users, have not been affected much. Hard drive prices have doubled since April because of the green Bitcoin craze. “GearVN’s customers are mainly end users and gamers, with a demand for hard drive capacity from 1 TB to 4 TB. In this segment, the price and supply are still stable,” a GearVN representative shared. This is also considered the biggest risk when participating in the “Green Bitcoin” market. According to experts, the difficulty of Chia mining is many times faster than Bitcoin. This means that mining systems must be invested with as many hard drives as possible. Previously, Bitcoin could be mined at individual scale because of the slow increase in difficulty. In the Chinese market, many traders have gathered thousands of hard drives to redistribute to Chia miners. According to ADATA, thanks to Chia, the number of SSDs sold by this company has increased 5 times in the past month. The shortage of goods makes many manufacturers of hard drives and SSDs prioritize serving the Chinese market. Order time in other markets is 2, 3 times longer. “In the past, every time a new order was placed, the waiting time was about 4-6 weeks. Now, the waiting time must increase to 8-10 weeks, high-capacity lines can sometimes be up to 13-15 weeks. Calculated, the standby time increased 2, 3 times, “said a representative of a distributor of the Seagate hard drive brand. Despite having an advantage in power consumption, Chia has a problem with mining materials, here is the hard drive. “I have to constantly buy hard drives while the price is getting more and more expensive. Without a hard drive, we wouldn’t have a place to store the strings of codes that can form a Chia,” said Cong. Uncertain future Chia was created by Bram Cohen, the “father” of the BitTorrent peer-to-peer file transfer protocol. The company behind this currency is Chia Network, backed by investor Naval Ravikant, some well-known companies such as Andreessen Horowitz or Cypherpunk Holdings. From May 3, this currency will be publicly traded and exchanged. According to the Business Insider , Split based on PoST (proof of space and time) consensus algorithm. In it, PoS (proof of space) describes an allocated hard drive space for blockchain block storage. In other words, the “miner” Chia will reserve a certain amount of memory space on the hard drive to store blockchains. Mining is very little, but participants have to constantly buy more hard drives in order to have space to store the blockchain. They will be awarded based on the ratio of memory cells that “miners” have to store compared to the entire network, as verified by a VDF server (aka Timelord). Chia Network, the representative company, said that this currency has good security, consumes less energy than coins using the PoW (proof of work) consensus algorithm. Unlike Bitcoin, Chia has no limit on the amount of coins mined on the blockchain. Instead, the number of diggers that can be mined will change continuously depending on demand. Chia Network, the company responsible for this currency will hold 21 million Chia in order to control price fluctuations, reducing the possibility of problems. Although the future of Chia is envisioned as ideal, the coin has only been traded on a number of crypto exchanges since early May with the token XCH. At first, the price per dong has more than doubled from $700 on May 4 to $1,600. However, facing the decline of the entire cryptocurrency market, Chia also suffered a price drop. Besides, too much hard drive also makes the Chia project away from the original “green” purpose of the founders. The owner of the net shop unplugs the machine, digs coins and waits for the translation to end Due to the impact of the Covid-19 epidemic, Mr. Nguyen Minh Quan (Thu Duc City) had to close the net shop, remove the graphics card to dig coins, earn extra income waiting for the reopening of the shop.

Photo: Forbes In the past, Elon Musk has repeatedly compared bitcoin and fiat money. He also often shares about cryptocurrencies that make the value of coins like bitcoin or dogecoin fluctuate greatly. Photo: INC In February, the value of bitcoin skyrocketed after Tesla revealed it had bought $1.5 billion worth of the coin. Besides, the electric car company also confirmed that it will soon accept bitcoin as a means of payment when buying a car. Photo: Forbes Even so, the bitcoin price plummeted after the billionaire announced in May that Tesla would not accept bitcoin for car purchases due to environmental concerns. Earlier this month, he also called dogecoin “a rush” while appearing on “Saturday Night Live.” The price of the coin bearing this dog symbol then also plummeted. Photo: CBN However, a few days ago, Elon Musk made the market “crazy” when he emphasized that he had never and will not sell dogecoin.

Hermès Birkin handbags range from $8,500 to $2 million. Unlike traditional bags, the Baby Birkin does not exist in real life and is not manufactured by Hermès. Inside the bag contains a 40-week-old fetus, which is clearly seen from the outside due to the transparent bag. The Hermès bag is sold on the NFT for $23,500. Photo: InputMag. Buyers of Baby Birkin will immediately receive a 3D video of the bag with a resolution of 2,000 x 2,000 pixels, with a proof of ownership token. When admiring the bag, the fetus inside will move and “grow” up to 40 weeks old, to music inspired by space. According to the InputMag , which is also the next difference of Baby Birkin compared to the usual Hermès Birkin bags. Instead of having to go to the store to order and wait for months or years to receive, Baby Birkin buyers will own the product as soon as the auction ends. According to the Basic.Space , the owner of an NFT handbag with the account name Aki Hayashi. There were a total of 32 bids, of which Hayashi made 4 bids and won with the final figure of $23,500. The designers claim this bag is valuable because it is rarer than any other handbag on the market. NFT is a concept that has been in the spotlight recently, when virtual items are traded at sky-high prices. One of them includes painting Everydays: The First 5,000 Days priced at $69.3 million, or Jack Dorsey’s first tweet is owned by a businessman for $2.9 million. Many fashion products such as watches and clothes have been “digitized” and sold on NFT floors, meeting the needs of users to own unique but bogus items. According to the NonFungible , NFT transaction value tripled in 2020, reaching $250 million. In 2021, the NFT fever still shows no signs of cooling down. Like new trends on the Internet, NFT creates mixed opinions about the real value, besides the possibility of just a speculative bubble. Things to know about NFT – the new fever of the world NFT stands for Non-Fungible Token. This is a cryptographic token on the blockchain that represents a single asset class.

This hacker organization has received ransom from many victims. This shows that data ransom attacks have become a lucrative business for cybercriminals. Bitcoin is increasingly preferred by criminal organizations Earlier this month, Colonial Pipeline suffered a severe attack that forced the company to shut down nearly all of its fuel system supplying the southeastern states of the United States. The FBI confirmed the crime was DarkSide, a cybercrime organization believed to be located in Eastern Europe. Last week, it was reported that Colonial had agreed to pay $ 5 million to DarkSide (in bitcoin) for the data recovery password. Recently, the CEO of the company confirmed this information. DarkSide operates like a business. This group develops malicious code to crack and steal the target’s data, then trains partners, the partners continue to train the hackers. When hackers use this malicious code to carry out successful missions, DarkSide will receive a percentage of those successful attacks. In March 2021, when it announced a new software that can crack data faster than before, DarkSide even released a press release and invited reporters to interview. Hackers often demand ransom in virtual currency. London-based blockchain analytics firm Elliptic has identified a bitcoin wallet that DarkSide uses to receive ransoms from victims. On May 14, London-based blockchain analytics firm Elliptic said it had identified a bitcoin wallet used by DarkSide to collect ransoms from victims. That same day, Intel 471 security researchers said DarkSide closed after losing access to its servers and when the organization’s virtual currency wallets were empty. According to Elliptic, DarkSide and other affiliates of this organization have collected at least $90 million in bitcoin ransoms, and they receive funds through 47 different digital wallets. “To our knowledge, this analysis includes all payments to DarkSide,” said Tom Robinson, Elliptic co-founder and chief scientist. However, there may be other undetected transactions, so this $90 million figure should be considered the lowest limit.” Also according to Elliptic’s research, DarkSide’s bitcoin wallet was holding $5.3 million in cryptocurrency before it was all withdrawn last week. There are some rumors that these bitcoins have been seized by the US government. Of the $90 million ransom, $15.5 million went to the developers of DarkSide and $74.7 million to affiliates. Much of that is being sent to cryptocurrency exchanges and thereby converted into fiat. Bitcoin is increasingly preferred by criminal organizations as crypto traders do not reveal their identities. However, because the digital ledger that underpins bitcoin is public, researchers can keep track of where these funds are going.

Elon Musk declares allegiance to Dogecoin (Image: WCCFTech) Elon Musk declared his allegiance to Dogecoin causing its value to increase by 15% during this crypto volatility. The billionaire American businessman responded to a Twitter thread speculating about his Dogecoin holdings with the message: “I have not and will not sell any Dogecoins.” This move of Elon Musk immediately caused Dogecoin to increase in value after many days of falling. Earlier, the CEO of Tesla and SpaceX posted on Twitter a photo of a laptop with a $1 bill sticker on it with the caption: “How many Doge’s in the window.” If you look closely, you can see that this bill has a picture of a Shiba Inu dog, the symbol of Dogecoin, in place of President George Washington. Elon Musk’s post on Twitter (Image: Twitter) This is the second time this week that Elon Musk has publicly expressed support for cryptocurrencies, after making an announcement on Twitter that Tesla would hold onto its Bitcoins as the market shows signs of a market crash. Earlier, Elon Musk faced criticism from social media users when some suggested that he sold his Bitcoins when its price peaked in the market. Elon Musk responded by tweeting that the electric car company has a “Diamond Hand,” referring to traders who hold stocks when prices fall with the goal of making long-term profits. The drop in cryptocurrency value over the past few days is said to have started after Elon Musk posted an announcement saying that Tesla was temporarily suspending Bitcoin as payment for its car orders, due to concerns about the risk of loss of money. Bitcoin mining will have a bad effect on the environment. Since then, however, he has repeatedly said that the company will keep its Bitcoins and will allow the use of the cryptocurrency to trade again when mining becomes more stable. Elon Musk announced that he will not sell Tesla’s Bitcoin (Image: Twitter) According to the Cambridge Center for Alternative Finance, the Bitcoin industry’s annual energy consumption is on par with that of a country the size of Malaysia. And most of the mining is located in regions of China, where electricity is produced cheaply by coal-fired power plants. Tesla bought $1.5 billion worth of Bitcoin at the end of 2020 when the price of each Bitcoin was below $20,000 and sold 10% in early 2021 when the price of this virtual currency reached $50,000/Bitcoin, earning on a profit of 101 million USD.

The creator of Ethereum claims that the ‘Elon effect’ will gradually lose influence on cryptocurrencies Vitalik Buterin, the “father” of Ethereum recently gave an exclusive interview with CNN about the recent volatility of the cryptocurrency market. The 27-year-old billionaire said that “the crypto market is in a bubble” and “it is very difficult to predict” when this bubble will burst. According to him, the “golden age” of digital currencies has passed and this crisis can last for several months. Earlier, on the morning of May 19, Coinbase recorded that Ethereum, Buterin’s “pet”, fell more than 40%, to below $ 1,900. By the morning of May 20, this coin had recovered to $ 2,700, however, this is still a low number compared to the record milestone of $ 4,384 that Ether achieved on May 11. The ups and downs of the Ether coin have made Buterin “father” pay a significant price when he is holding an asset worth about $ 1.1 billion, now reduced to only about $ 870 million. At the age of 27, Vitalik Buterin, a Russian-Canadian programmer, is already considered a veteran founder in the tech world having seen multiple cryptocurrency boom cycles over the past few years. “We’ve seen at least three crypto bubbles burst. Usually the reason bubbles end is because something happened. This shows that the technology of cryptocurrencies is still there. not ready,” Buterin said. Since late 2013, when preparing for the launch of Ethereum two years later, Buterin has expressed his vision for cryptocurrencies. According to Buterin: “Cryptocurrency has become more than just a toy. It is almost ready to become mainstream.” In the process of developing “pet” Ethereum, Buterin is also not afraid to assert that there is a possibility that Ethereum will eventually catch up and surpass Bitcoin in market value. However, the programmer also said that the cryptocurrency market tends to be “vulnerable” to disruptive events, before they can “build an immune system over time”. Typical is the influence of some billionaires who are treating cryptocurrency as a toy. Mr. Buterin isn’t shy about mentioning Elon Musk’s name: “Mr Musk’s tweets are something the crypto space has only been getting into for the first time in recent months, literally. I think it’s appropriate. It’s reasonable to expect a bit of madness. Because the market will learn a lot from that and will be immune to the Elon Musk effect.” In addition, Mr. Buterin also asserted that governments cannot completely ban but have the ability to block or restrict access. Therefore, the development of cryptocurrencies also needs to listen to regulations from regulatory agencies to avoid getting into legal troubles. Faced with the crisis of digital currency, the “father” of Ethereum thinks that this is a “quiet” for digital currencies to renew themselves. On the Ether side, Mr. Buterin said the coin’s transaction costs will soon be cut. A major technical overhaul is underway that will allow Ether transactions to quickly scale, while cutting the amount of electricity consumed by mining by 1,000 to 10,000 times. “We’re going to go from consuming energy similar to a medium-sized country to just consuming energy like a village,” Buterin said confidently. According to Buterin, if Ether’s competitors don’t reform technically, Ether will soon outstrip them, such as Bitcoin.

This coin is developed based on the Binance Smart Chain platform and is tradable similar to Bitcoin or Dogecoin. Currently, STOPELON is priced at about 0.0000537493 USD/VND. However, buying and selling this coin is quite complicated. The issuer only allows users to trade on the PancakeSwapv2 exchange. The symbol of the coin STOPELON. Photo: ManOfMany. Even so, the developers have some policies to make STOPELON attractive to investors such as 6% refund of transaction fees. The destruction rate of this coin is 40% of the total 1 trillion coins to fight inflation. STOPELON shows the anger of investors with billionaire Tesla when this coin once had a strong growth of more than 4,000% in just 1 day. In addition to STOPELON, the market also has available cryptocurrencies created to oppose Elon Musk such as FuckMusk, FElon… According to the InputMag , Elon Musk has made a lot of profit after the crypto craze. However, investors believe that the market volatility created by Musk will soon come to an end.

“BlockFi has always had provisions for loss in accordance with its accounting policy. This is part of the provision so it doesn’t have a big impact on the equity or operation of the platform,” Prince said that the mis-transfer problem has been fixed dress. BlockFi also developed additional measures to prevent a similar situation from happening in the future. A BlockFi user received 701 Bitcoins due to the crash. Screenshots. BlockFi’s Twitter page states that some participants in the promotion may “see incorrect bonuses in transaction history”. Those withdrawing to cold wallets were emailed by BlockFi asking to send their funds back. Share with CoinDesk , a BlockFi user said he withdrew a large amount of Bitcoin received from BlockFi to a cold wallet, claiming that this was a reward of a promotion. After realizing the problem amount, he requested to cancel the withdrawal. However, it is not clear why the Bitcoins are still withdrawn to cold wallets. The next day, this user received emails and calls from BlockFi, threatening to get legal intervention if the money was not returned. On the Internet, many BlockFi users have shared images of receiving large Bitcoins from “falling from the sky”. “I thought BlockFi was going to transfer 701 USD but mistaken it for 701 Bitcoin”, Twitter user Ric Burton share. Another said that he received 5 Bitcoins but was also asked to return it by BlockFi. “I got to be a millionaire in 3 hours”, account nebrijo comment, with a picture of an account balance of more than $1.5 million before transferring the mistakenly sent Bitcoin to BlockFi. According to the Bloomberg , BlockFi is a platform that provides lending and trading services for cryptocurrencies. Despite having just experienced a sharp price crash, the world’s most valuable cryptocurrency is trading at around $40,000, as of May 21. BlockFi’s large Bitcoin transfer by mistake is reminiscent of last year’s incident, when Citibank mistakenly transferred $900 million to several creditors of cosmetics firm Revlon, instead of just paying $8 million in interest. Expensive price for Bitcoin mining Since the advent of cryptocurrencies, the amount of electricity required for mining has increased significantly. This leads experts to believe that cryptocurrency mining is not environmentally friendly.

The price of Dogecoin plummeted right after the show featuring Elon Musk started. Photo: Coindesk. However, when Musk didn’t show up, the price of Dogecoin plummeted. According to the data of Coinmarketcap , from nearly 0.7 USD, Dogecoin dropped to more than 0.5 USD after more than 30 minutes of the program. The market capitalization of this coin dropped from $90 billion to just $68 billion after 1 hour, more than $150 million of leveraged investors was blown away. As expected by many, Elon Musk mentioned Dogecoin in the middle of the show. “Recently, the prices of many cryptocurrencies have increased, such as Bitcoin, Ethereum, and especially Dogecoin,” replied Elon Musk when asked “what is cryptocurrency”. Elon Musk’s mention of Dogecoin only made the coin rise slightly from the bottom. By 12 o’clock, the price of Dogecoin was still at $ 0.55, a sharp decrease compared to before Saturday Night Live aired. “People seem to be starting to realize that you shouldn’t invest based on a guest on a comedy show mentioning that asset,” said Wall Street Journal financial writer Paul Vigna. Elon Musk appeared on Saturday Night Live, mentioning Dogecoin. Earlier, the news that Elon Musk led Saturday Night Live caused the price of Dogecoin to increase sharply. According to the data of Coinmarketcap , the value of each Dogecoin has increased from $0.34 on May 1 to $0.69 as of the morning of May 8. Many fans of Musk and Dogecoin even plan to invite friends over to watch and celebrate if the coin’s price skyrockets. On the morning of May 8, Elon Musk posted on his personal Twitter a picture of him and two other guests of Saturday Night Live. Musk also inserted a picture of the dog Shibu, the symbol of Dogecoin, into the frame. Soon after, the Dogecoin price increased rapidly and reached an all-time high of $0.72 before cooling off.

According to analysts, Bitcoin is too expensive, causing investors to rush to find new digital currencies to profit. As a result, Ethereum has increased by more than 40% in value in the past April. Ethereum cryptocurrency was launched in 2013 with the purpose of being used to transact for an intranet of the same name. Now it is turning these crypto holders into billionaires with skyrocketing prices. The Ethereum cryptocurrency is also benefiting from the rise of NFTs, aka non-fungible tokens. This is a digital asset designed to represent ownership of unique virtual items such as art and sports memorabilia. Many NFTs like CryptoKitties and CryptoPunks are all running on Ethereum. However, this outburst of activity has resulted in congestion on the Ethereum network. Ethereum is currently being upgraded with the ambition of enabling faster transaction times and reducing the amount of power required to process transactions.

DOGE-1 will send a 40 kg Geometric Energy Corporation satellite to the Moon. This satellite will collect information about the planet Earth. Representatives of the two companies have not announced the contract value paid in Dogecoin. The DOGE-1 program will send a satellite to the Moon on a Falcon 9 rocket. Fees are paid in Dogecoin. Photo: SpaceX. SpaceX vice president Tom Ochinero said the DOGE-1 program “will demonstrate the application of extraterrestrial cryptocurrencies and lay the groundwork for transplanetary commerce.” Earlier, Elon Musk said that SpaceX will “actually put a Dogecoin on the Moon”. However, he made his statement on April 1, so no one is sure if he was joking or telling the truth. SpaceX is not the first company run by Elon Musk to accept cryptocurrency payments. In February, Tesla announced it was buying $1.5 billion in Bitcoin and accepting payments for cars in the currency. The move caused Bitcoin price to surge. In the crypto world, the term “to the moon” is often used to refer to a coin’s value skyrocketing. According to Coinmarketcap, on the morning of May 10 (Vietnam time) Dogecoin is priced at about 0.55 USD, with a market capitalization of 72 billion USD, ranking 4th after Bitcoin, Ethereum and Binance coin. Before that, Dogecoin had 2 strong volatile weekends. On May 8, the news that Elon Musk hosted Saturday Night Live caused the price of Dogecoin to increase sharply. According to Coinmarketcap data, the value of each Dogecoin coin has increased from $0.34 on May 1 to $0.69 as of the morning of May 8. Many fans of Musk and Dogecoin even plan to invite friends over to watch and celebrate if the coin’s price skyrockets. On the morning of May 8, Elon Musk posted on his personal Twitter a picture of him and two other guests of Saturday Night Live. Musk also inserted a picture of the dog Shiba, the symbol of Dogecoin, into the frame. Soon after, the Dogecoin price increased rapidly and reached an all-time high of $0.72 before cooling off. The price of Dogecoin dropped dramatically on the morning of May 9, before Elon Musk hosted Saturday Night Live. Photo: Coindesk. However, before the time of Elon Musk’s broadcast, the price of Dogecoin dropped dramatically. According to the data of Coinmarketcap , from nearly 0.7 USD, Dogecoin dropped to more than 0.5 USD after more than 30 minutes of the program. The market capitalization of this coin dropped from $90 billion to just $68 billion after 1 hour, more than $150 million of leveraged investors was blown away. As expected by many, Elon Musk mentioned Dogecoin in the middle of the show. “Recently, the prices of many cryptocurrencies have increased, such as Bitcoin, Ethereum, and especially Dogecoin,” replied Elon Musk when asked “what is cryptocurrency”.

Ethereum has skyrocketed in recent times. (Source: CNBC) Price hits all-time high According to Coin Metrics, Ethereum (also known as Ether) reached an all-time high of $4,196.3 at 12:15 p.m. on May 10. The value of Ether is up nearly 7% in the past 24 hours and is currently at $4,141.99. The total market capitalization of this coin is $476.3 billion, almost half the market capitalization of the world’s largest digital currency – Bitcoin ($1.1 trillion). With the new milestone just set, the price of Ether has increased 5 times from the price of $ 800 at the beginning of 2021. Compared to the same period last year, the price of Ethereum has increased about 20 times in just 1 year. . Ether was founded in 2013 by Russian-Canadian programmer Vitalik Buterin and several other crypto entrepreneurs. Similar to Bitcoin, Ether operates on the Blockchain technology platform. The biggest difference between Ether and Bitcoin is the intended use and core technology. Ether was created with the goal of becoming a platform for smart contract development. Ether serves as a means of paying for the network’s operating costs. Meanwhile, Bitcoin was born with the sole purpose of becoming a means of payment and a store of value. For programmer Buterin, Bitcoin is too limited in functionality. In an interview with Business Insider , founder Ether compared Bitcoin to a pocket computer that “does one thing well,” while Ether is like a smartphone with many apps. Ethereum is not perfect yet However, according to the page CNBC , Ether is not perfect yet. In 2017, the popularity of the game CryptoKitties caused Ether’s network to become severely congested, slowing transactions and causing game developers to raise fees. Scalability is one of the biggest problems with the Ether network today. This cryptocurrency currently works using a proof-of-work protocol (a mechanism that prevents double-spending), similar to Bitcoin. This means that cryptocurrency miners with purpose-built computers must compete to solve complex mathematical puzzles to validate transactions and get the miners’ networks to “mine”. Electrons must consume huge amounts of energy. But Ether is currently “running” an ambitious upgrade called Ethereum 2.0. Specifically, the cryptocurrency moves to a proof-of-stake model and relies on investors holding Ether to process new transactions. Cryptocurrency investors say the upgrade will help the Ether network run at scale, process more transactions at faster speeds, and support applications with millions of users. This can also lead to short-term price increases. However, some experts are still skeptical and refuse to trade digital currencies like Bitcoin and Ether. The latest volatility of the world’s top two cryptocurrencies reminded them of the 2017 crypto bubble, during which Bitcoin surged to a peak of $20,000. But a year later, it “sloped” down to $3,122. Some cautious investors say that the cryptocurrency is in a bubble waiting to burst. What do experts think about Ethereum and Bitcoin? Ed Egilinsky, CEO – Head of Alternative Investments at Direxion said: “Ethereum’s blockchain technology has more uses and functionality than Bitcoin, making it a potentially lucrative game in the long run. Also, at the present time, the price difference between Bitcoin and Ethereum could make Ethereum an ‘affordable’ investment for investors.” “Ether is a blockchain platform that acts like the Apple and Android app stores,” said Pat LaVecchia, CEO of trading platform Oasis Pro Markets. Meanwhile, Bitcoin is a commodity like gold, or a store of value. Unlike Bitcoin, where many properties (such as supply) have been fixed since its inception, the Ethereum platform is still evolving with new updates that promise to improve the system. It’s even entirely possible that regulations change and cause the supply to drop, which will cause the price of Ethereum to continue to rise.” (according to CNBC, Business Insider)

The new digital currency is called Internet Computer. Currently, this coin has entered the top one of the largest cryptocurrencies in the world at number 8, according to CoinMarketCap rankings. The introduction of Internet Computer and its ledger will help users create whatever they want on the Internet without going through digital giants like Amazon or Facebook. Users can also use commercial cloud services. According to Mr. Dominic Williams – the project’s founder – Internet Computer was founded with the idea of ​​avoiding the barriers of companies and helping to reduce costs. Users can build social media and other services to compete with the internet giants of the world. Internet Computer raises $45 billion in one day amid crypto craze. Photo: Bloomberg. The network that powers the cryptocurrency uses smart contracts and task execution software, helping it compete with larger players like Ethereum. Internet Computer is also involved in many other coins and related networks such as Polkadot and Binance Coin. The launch of the Internet Computer is taking place in the context of the cryptocurrency revolution that is exploding around the world. Prices for many cryptocurrencies, from Bitcoin to Dogecoin, are up sharply from a year earlier. According to the Bloomberg , the total market value of cryptocurrencies currently stands at $2,480 billion, up sharply from less than $1 trillion at the start of the year. Bitcoin is still the most valuable cryptocurrency in the world. According to the Coindesk , one Bitcoin is currently priced at $57,214, up 4.67% from yesterday. Other coins also had positive momentum, in which Ether rose 11.89% compared to yesterday, surpassing $4,269 per coin. Dogecoin also increased to 0.49 USD/coin.

Internet Computer coin traded at 370.3 USD – Photo: Bloomberg Just launched on May 10, virtual currency called Internet Computer has immediately entered the top 10 largest virtual currencies in the world with a market capitalization of about 45 billion USD, according to the ranking on CoinMarketCap.com. Internet Computer was created to help anyone – from software developers to content creators – upload whatever they want to the internet without having to go through tech giants like Amazon. , Facebook or through servers, commercial cloud services. According to Dominic Williams, founder of the Internet Computer project, this virtual currency helps users avoid closed ecosystems of businesses and reduce costs. Users can build their own social networks as well as many other services to compete with giant internet companies. Internet Computer coin price movement after one day of launch – Source: Coinmarketcap.com The Internet Computer’s network uses smart contracts or task execution software to compete with larger cryptocurrencies like Ether (currently the second largest cryptocurrency by market capitalization). Internet Computer is also “shaking hands” with many other cryptocurrencies and related networks – such as Polkadot, Binance Coin – to bypass Ether. The Internet Computer coin was born in the context of virtual currencies from Bitcoin to Dogecoin being mentioned everywhere, at dinners to Saturday Night Live on national television in the US. Top 10 largest cryptocurrency market capitalization, updated price at 9:00 am on May 12 (Vietnam time) – Source: Coinmarketcap.com Dong Internet Computer traded at 370.3 USD at 9:00 am on May 12 (Vietnam time), up more than 1% compared to the previous 24 hours. This virtual currency transaction value reached 1.5 billion USD, an increase of nearly 90% in 24 hours. The market capitalization of the entire cryptocurrency market is now $2,480 billion, up from less than $1 trillion earlier this year.