Archive for the ‘bitcoin’ category

May 9, 2020

Bitcoin Acceptance Skyrockets in Venezuela Amid Hyperinflation Crisis

Posted by in categories: bitcoin, business, economics

As Venezuela’s economy continues to endure hyperinflation, more businesses start accepting crypto.

May 8, 2020

Google Algorithm Update: Did Google Just Censor Bitcoin?

Posted by in categories: bitcoin, information science

Welcome to Shadow banning.

Have a look.

Reports come in that Google has just released a new core algorithm update and that Google is allegedly censoring bitcoin. This is an auspicious time for censorship.

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May 7, 2020

Patterns, Choices & Consequences

Posted by in categories: biotech/medical, bitcoin, economics, finance

The choices we make today, and it’s consequences will shape up this decade. Can we break the current pattern, engage with this new financial system and adapt to new realities? #blockchain

As human beings, we are defined by patterns. Our collective pattern defines society. We are empowered with choices – furthering the patterns, or breaking them or creating new ones. In the physical world, these choices could be social, economic, technological, or ecological. Based on the choices we make – good, bad, or ugly, we enjoy or suffer consequences. COVID-19 escalated the macroeconomic situation leading to liquidity, demand, and supply shocks. Can we break the current pattern and embrace digitization, decentralization and sound money? In turn, making choices that will create affirmative consequences for humanity.

Patterns, Choices & Consequences

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May 7, 2020

Chinese Kennel Owner Caught Stealing Electricity to Power Underground Bitcoin Mining Farm

Posted by in categories: bitcoin, business, food, sustainability

The largest oil field in the People’s Republic of China has been a target for individuals and organizations attempting to mine bitcoins with free electricity. After a bunch of mining farm operators allegedly got caught last summer, a dog kennel owner was recently busted for running cable lines in order to siphon free electricity from China’s Daqing Oil Field. The mining farm owner was arrested, as police found 54 ASIC miners stored in an underground bunker with dog kennels on top making it seem like a legitimate operation.

Electrical costs in China are cheaper than most places around the world, and that is why there is a high concentration of China-based bitcoin mining operations. To this day, it is estimated that more than 60% of today’s bitcoin miners operate in China. On April 26, the regional publication dbw.cn/heilongjiang published a report that explained a bitcoin miner was just arrested for allegedly stealing free electricity from the Daqing Oil Field. The report notes that the mining farm operator got away with the free electricity for months in order to power 54 mining rigs underground.

Further investigation shows that the mining farm owner also operated a K-9 kennel housed with dogs above the bunker. The cover made it seem like he was operating a legitimate business, while he had long cables running into China’s largest oil field. The oil field in Daqing is located between the Songhua river and Nen River. Estimates show that Daqing Oil Field has produced well over 10 billion barrels since the operation started. The man who was busted running cable lines into the oil field is not the only entrepreneur who has tried that specific method. Daqing Oil Field has been a target for many bitcoin mining operators who have attempted to run cables into the plant.

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May 7, 2020

Chinese Court Declares Ethereum Legal Property With Economic Value

Posted by in categories: bitcoin, cryptocurrencies, economics, law

There is an interesting case of a blockchain engineer and a crime in the article.

A district court in China has reportedly ruled that Ethereum’s cryptocurrency is legal property with economic value. This ruling follows a couple of other verdicts on the legality of cryptocurrency, including bitcoin, by various Chinese courts. While cryptocurrency is not legal tender in China, people can hold and transfer them like property.

The Shenzhen Futian District People’s Court in Guangdong Province, China, has ruled that ether is legal property, protected by Chinese law, local media reported last week. This means that the Chinese are not barred from owning or transferring the cryptocurrency, local publication 8btc explained, adding that according to the court ruling:

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May 4, 2020

Using Deep Learning AI to Predict the Stock Market

Posted by in categories: bitcoin, finance, robotics/AI

Imagine being able to know when a stock is heading up or going down in the next week and then with the remaining cash you have, you would put all of your money to invest or short that stock. After playing the stock market with the knowledge of whether or not the stock will increase or decrease in value, you might end up a millionaire!

Unfortunately, this is impossible because no one can know the future. However, we can make estimated guesses and informed forecasts based on the information we have in the present and the past regarding any stock. An estimated guess from past movements and patterns in stock price is called Technical Analysis. We can use Technical Analysis (TA)to predict a stock’s price direction, however, this is not 100% accurate. In fact, some traders criticize TA and have said that it is just as effective in predicting the future as Astrology. But there are other traders out there who swear by it and have established long successful trading careers.

In our case, the Neural Network we will be using will utilize TA to help it make informed predictions. The specific Neural Network we will implement is called a Recurrent Neural Network — LSTM. Previously we utilized an RNN to predict Bitcoin prices (see article below):

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May 2, 2020

US Bitcoin Holders Worry About Chinese Control of the Mining Network

Posted by in category: bitcoin

China has consolidated more than half of the world’s Bitcoin mining operations. What threats could the situation create?

Apr 29, 2020

Binance Sees Record High Trading Volume as Investors Flood into Crypto

Posted by in categories: bitcoin, cryptocurrencies

The crypto market has been able to add on over $20 billion to its total capitalization, with the upswing seen today by Bitcoin and many of its smaller counterparts marking a full erasure of the losses incurred during the mid-March meltdown.

The significance of today’s price action extends far beyond just boosting the market’s technical strength, as it has also revitalized investors – an occurrence indicated by trading volume on crypto exchange Binance hitting a fresh all-time high today.

This comes as the benchmark cryptocurrency’s fundamental undercurrent grows stronger, with the influx of new retail investors into BTC suggesting that there may be a shifting market dynamic that ultimately allows it to continue climbing higher.

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Apr 29, 2020

Bitcoin surges above $8,000 for the first time in 2 months ahead of a key halving in Currency News | Financial and Business News Insider

Posted by in categories: bitcoin, business, finance

Bitcoin crossed the $8,000 mark for the first time on Wednesday since March ahead of ‘bitcoin halving’ that will take place on May 12. Som…

Apr 19, 2020

Institutional Investors Pour $498,900,000 Into Bitcoin (BTC) and Ethereum (ETH) As Crypto Fund Executive Declares ‘Cats Out of the Bag’

Posted by in categories: bitcoin, cryptocurrencies

New numbers from the digital asset management giant Grayscale show investors are collectively throwing big money into Ethereum for the first time, on top of record investment numbers for Bitcoin.

According to Grayscale’s Q1 2020 report, institutions are taking a serious interest in ETH, enough to print a record quarterly inflow into the Grayscale Ethereum Trust.

Spencer Noon, the head of crypto investments at DTC Capital, says the numbers show Ethereum has reached a turning point with high-net worth investors.

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