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During the last week, the Bitcoin network’s hashrate has jumped to a record high of 185 exahash per second on March 14, 2021. The hashpower has relentlessly continued to rise, climbing a whopping 18,400% in five years since January 21, 2016. Bitcoin Price Jumps Over 1,500% in a Year, Hashrate Climbs 18,400% in Five Years The price of bitcoin (BTC) touched an all-time high (ATH) reaching $61,782 per BTC on March 13, 2021. It happened pretty much one year after the crypto asset’s most recent market bottom on March 12, 2020. The price had risen over 1,500% since that day, otherwise known as ‘Black Thursday,’ which saw BTC prices slide to $3,850 per unit. BTC prices are down over 6% since the recent ATH and the value of the leading crypto asset has driven mining profitability. A touch after BTC hit the ATH in value, BTC miners ramped up the hashrate to 185 exahash per second (EH/s) the day after on March 14, 2021. Bitcoin mining is extremely competitive and with the hashrate so high, the network’s mining difficulty is also at extreme heights as well. Currently, it’s never been more difficult to mine the leading crypto asset than it is today with charts currently measuring 21.7 trillion. There are 18 mining pools directing hashrate at the BTC blockchain and F2pool was the number one miner for the last few months on end. However, F2pool’s hashrate has slid some and Poolin now captures the number one bitcoin miner in terms of hashrate distribution. Poolin and F2pool have close to the same speeds as Poolin now commands 26 EH/s with 17% of the hashrate and F2pool captures 24 EH/s and 15.7% of the overall hashrate. The pool operated by crypto firm Binance holds the third-largest position with 12% of the BTC hashpower. 185 EH/s is a phenomenal speed and other sites like fork.lol recorded upwards of 189 EH/s on that day. To compare this with speeds five years ago data shows BTC’s hashrate has jumped 18,400% when it touched 1 EH/s that year. Since 2016 a Single Mining Rig Improved by 1,328%, Institutions Purchase Tens of Thousands of Next Generation Miners The price of bitcoin (BTC) has surely helped drive the hashrate to the number we are seeing today, however, other technological advances have fueled Bitcoin’s hashpower as well. At that time in 2016 when the hashrate was 1 EH/s, machines like Bitmain’s S9 series were the dominant miners in the industry. Yet at that time, mining rigs did anywhere between 7 to 15 terahash per second (TH/s). Today, machines manufactured by Bitmain and other competitors like Microbt, process hash at around 100 TH/s. That’s an improvement of 1,328% efficiency per application-specific integrated circuit (ASIC) mining machine in five years’ time. From 2015 through 2016, the 16nm semiconductor was the standard chip at the time for ASIC mining rigs. The company Bitfury had released what was called one of the “fastest” mining chips that could reach around 40 gigahash per second, while keeping the power efficiency around 0.06 joules per gigahash. In December 2016, Bitfury’s mining pool captured over 9% of the overall BTC hashrate but today Bitfury’s mining pool has zero hash. 16nm ASIC mining chips have been replaced by far more efficient 12, 10, and even 7nm semiconductors. Moreover, companies are preparing to build even faster models with better chipsets in the future. There’s also been a massive surge in institutional interest in bitcoin mining as large orders of mining rigs have been ordered in 2020 and into 2021. For instance, the company Marathon Group broke records when it purchased 70,000 next-generation bitcoin miners from Bitmain. The publicly listed Canadian bitcoin mining operation Bitfarms revealed the company purchased 48,000 Microbt Whatsminer mining rigs. Even with a high $0.12 per kilowatt-hour (kWh) the top mining rig the Microbt Whatsminer M30S++ (112TH/s) captures over $32 per day. The Bitmain S19 Pro (110TH/s) series machine gets $32 per day as well using current exchange rates. What do you think about Bitcoin’s hashrate reaching 185 EH/s and mining rig improvements? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. Toronto, Ontario, Canada, March 19th 2021 – Affinity Design – Rarify Apps just launched a new deFi application only possible on layer 2 tech. After only a week since the claiming app debut, the price of Rare Coin soared well over 1000 USD on the Honeyswap DEX after the app garnered over 3 thousand daily active claimers. This was all possible due to xDai chain’s speed and low fees that let users claim a small fraction of “Rare” for only ten cents per claim. As gas fees on Ethereum continue to rise, yield farming on the platform has begun to wreck yield and make it outright impossible for the little guys to earn a fair share. By building on the xDai chain (a stable coin layer 2 solution) the barriers of cost to entry are eliminated as fees are fractions of a penny and can transact in under 5 seconds. This makes it possible to distribute the total supply of “Rare Coin” to anyone who makes a daily claim on the rare.claims app (available now) or earn more for locking up your Rare & xDai in our Staking app (coming April 2021). What makes Rare Coin so rare is the fact that only 2 coins are released and distributed every day with the last coin due to hit the market in 2071. There is no presale or initial distribution. Instead, 2 coins are slowly dripped once a day from a smart contract on the xDai chain. One coin is equally divided to the daily Claimers and one coin is weighted distributed to the weekly Stakers. The distribution mechanics has been hardcoded into the smart contract since its initial release in February 2021. This makes Rare Coin extremely rare, super fair, and cheap to earn a share! All you need to claim is to have an xDai compatible wallet connected to the xDai chain, own a few xDai and you can start earning Rare today for virtually free! If you want more than a small share a day, then make sure to buy more while you still can! More info on https://rare.fyi Press Contact: paul@affinitydesign.ca This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

The United Kingdom’s Advertising Standards Authority (ASA) has banned Coinfloor’s bitcoin advert for “irresponsibly” promoting investments in the crypto asset. The watchdog claimed the crypto exchange’s marketing campaign had targeted pensioners who were “unlikely to know” much about the topic. ASA’s ruling comes after the regulator received two complaints concerning the advert. According to a report, the ASA said it is particularly concerned with the advert’s use of the phrase “there is no point in keeping your money in the bank”. While acknowledging Coinfloor’s effort to inform investors of the risks associated with cryptocurrency investment, ASA however, asserts that the exchange’s disclaimer, which is printed in small print, is “insufficient to counteract the overall message”. Meanwhile, ASA is also alleging that the advert is “misleading because it had failed to make clear the risks associated with bitcoin investments.” The watchdog also assails the advert for not being “socially irresponsible” because it suggested that purchasing bitcoin was “a good or secure way to invest one’s savings or pension.” In its defense, Coinfloor says the advert “represented the perspective of a customer rather than the company’s own view.” In addition to mentioning that investing in cryptocurrencies involved significant risk, the disclaimer had “been given sufficient prominence” argued Coinfloor. However, ASA disputes this and claims that the “small font size and low positioning of the text meant the details had not been displayed clearly enough.” In the meantime, the Northamptonshire Telegraph, in which the advert initially appeared, says “it would not publish the ad again unless it was suitably changed.” What are your thoughts about the advert ban? Tell us what you think in the comments section below. View the full article

A few months ago a trend started where well known businesses like Microstrategy, Square, and Tesla started adding bitcoin to their company balance sheets. Now a Canadian condominium company has decided to invest in bitcoin in order to replace some of the firm’s reserve fund with crypto. Thornton Place Condominium Corporation leveraged the cryptocurrency exchange Kraken to process the transaction. Canadian Condo Company Purchases Bitcoin for Reserves Crypto assets and the leading digital currency bitcoin (BTC) have been gathering steam in 2021 as assets like BTC have touched all new price highs. For instance, BTC reached an all-time high (ATH) touching $61,782 per BTC on March 14, 2021. In 2020 and into 2021, a great number of companies have been trading cash and stocks from their treasuries in order to replace them with bitcoin (BTC). In recent times, firms have also been adding ethereum (ETH) to their balance sheets as well. On March 17, the Canadian condo business called Thornton Place Condominium Corporation announced it has purchased bitcoin (BTC). Thornton Place is located in the capital city of the Canadian province of Saskatchewan and the organization explained it had purchased 0.4 BTC for $25,000. The Thornton Place board members voted on the purchase and “determined that a small investment of approximately 5% of the overall Reserve Fund and 6% of the monthly Operating Fund contributions into bitcoin will permit Thornton Place to gain a limited exposure to a high-performing asset class without jeopardizing any of the long-term goals of the corporation and its owners.” Before the vote on the purchase, the Thornton Place board created a governance policy to manage the BTC. The company believes in the long run, the BTC reserves will help make the condo organization self-sustainable. “It is the Board’s intent that the $700.00 monthly investment from the Operating Fund contributions is continued on a long-term and indefinite basis. We see a 10-year time horizon for the investment and will continue to evaluate the scope and performance of the investment in relation to the overall corporate finances as is appropriate,” the Thornton Place announcement explained. The Canadian company added: In making this investment, we believe that we have taken the first steps that may one day permit the elimination of condominium fee contributions from the owners and result in Thornton Place Condominium becoming entirely self-sustaining, valuable, and sought-after real estate. Thornton Place Treasurer: ‘Bitcoin Is a Bit More Stable’ According to one report, the Thornton Place Condominium Corporation treasurer Howard Ulmer detailed that the idea stemmed from a fellow board member. Ulmer said that the board was well aware of BTC’s price fluctuations and thinks the crypto asset has grown more stable. “It appears that this may be a more stable time for investment in bitcoin currency,” Ulmer said. “And the last number of years has been a considerable amount of fluctuation, and that doesn’t mean it can’t happen some more. But at least it appears to be a bit more stable.” Despite the enthusiasm from members of Thornton Place Condominium Corporation, other individuals are not so pleased with the condo association’s recent decision. “Under the [Saskatchewan] trustee act, there has to be consideration of the risk [in investing] … and so because of that the condo corporation did not take their entire reserve fund and invest it into bitcoin, even if this goes to zero, it will not make or break the reserve fund and the ability of the condominium corporation to meet its ongoing demands in the future,” the University of Toronto finance professor Lisa Kramer said in response to the recent Thornton Place move to purchase bitcoin. What do you think about the company Thornton Place Condominium Corporation purchasing bitcoin for reserves? Let us know what you think about this subject in the comments section below. View the full article

Crypto assets that are linked with non-fungible tokens (NFTs) marketplaces have risen sharply since the mania took off a few months ago. NFTs are selling at prices that many consider ridiculous for intangible artwork. Third-Largest Art Sale by a Living Artist Was Tokenized One piece of art created by the digital artist called Beeple – a collage of the artist’s work since 2007 – recently sold for a record $69.3 million at the auction house Christie’s. The JPG file became the third-largest art sale by a living artist after Jeff Koons and David Hockney. According to the latest data from blockchain research firm Kaiko, NFT-related tokens have soared in line with the record sales in digital art. Decentraland, a virtual world where players can purchase NFTs, has seen its MANA token surge 682% since Feb. 1. The token Flow, a product of Dapper Labs (partner of NFT marketplace NBA Top Shot), climbed 216% to a high of $37.73 on Mar. 13. Rarible (RARI) rose more than 825% from $4.11 on Feb. 1 to a peak of $38.02 on Mar. 15. Enjin (ENJ) is up over 640% to $2.61 over the same period. “The word ‘NFT’ has officially entered the pop-cultural lexicon following digital artist Beeple’s historic sale of a non-fungible token at Christie’s,” said Kaiko, in a blog post on Mar. 15. Millions of Dollars Worth of Blockchain-Backed NFTs Sold Non-fungible tokens serve functions such as governance, utility, and rewards. They also act as a barometer for sentiment within the NFT industry. According to The Tie, NFT mentions in the media were up more than 100 times over the last year. The NFT mania may indeed border on the insane. Keen to cash in on the craze, a Brooklyn man, Alex Ramírez-Mallis, 36, collected one year of his and friends’ farts which he compiled into a 52-minute “Master Collection” audio file, the New York Post reported. Now the top bid for the audio file is $183. Individual fart recordings are going for 0.05 ether, or $85. One single fart has already been bought by an anonymous buyer. More than $449 million worth of NFTs has been sold throughout the world since such sales started a few years ago, according to data from nonfungible.com. That’s from 5.41 million pieces sold at an average price of $82.97. What do you think about the NFT mania? Let us know in the comments section below. View the full article

The famed American actress, artist, singer, and entrepreneur is set to auction her exclusive collectibles on a Tron-based NFT auction platform, joining the chorus of celebrities promoting coins and projects in the blockchain ecosystem. Hollywood Star to Promote NFT Education & Adoption in Upcoming Clubhouse Session The recent non-fungible token (NFT) asset boom has seen no shortage of participation from both the crypto ecosystem and celebrities seeking to join the latest craze. Lindsay Lohan is the latest Hollywood personality to join the trend with her upcoming collectible sale, following several high-profile auctions which have illuminated the NFT space and its potential. With an event set for March 20th, Lohan will be auctioning her exclusive NFT on the Tron network. The move puts the spotlight on Tron’s capabilities, which is increasingly considered a viable alternative for NFT auctions given its lower transaction costs and higher performance relative to the events currently hosted on other networks. Highlighting her excitement to be working with Tron’s Founder, Justin Sun, Lohan will be joining an upcoming session on Clubhouse with Sun and T-Mobile’s former head John Legere. The session will cover her artwork’s launch, bring more information to the audience concerning NFTs, and focus on the ongoing adoption drive. Hollywood Crowds Into Crypto Promotion Lohan has slowly tiptoed into the NFT space after affirming her crypto support in a February 10th tweet aimed at her 8.4 million Twitter followers. Her four-word tweet and rocketship emoji, “Bitcoin to the moon,” quickly received widespread attention both in the crypto-sphere and pop culture circles, adding to the viral nature of pronouncement. No stranger to controversy, her tweets concerning defi has been on the receiving end of some sharply-worded critiques from within the community after she highlighted Tron’s advantages for defi applications compared to competing networks. Welcome to #TRON family! Show me your #TRX address 😊 I may send you something😉 — Justin Sun🌞 (@justinsuntron) February 11, 2021 Given her limited background in the space, the Twitterverse was quick to pounce on her inexperience, quipping that she and Sun seemed very chummy all of a sudden. The trend of Hollywood A-listers promoting tokens and projects is no new occurrence given the opportunity to monetize their celebrity cache. The latest pickup in interest has accompanied the steep climb in crypto prices, attracting serious entertainment names, including Gene Simmons, Maisie Williams from Game of Thrones, and even Soulja Boy. The Clubhouse session with Lohan and Sun, March 18th at 10:30 PM Pacific Standard Time. What do you think of the latest trend of celebrities auctioning self-made NFTs? Let us know in the comments section below. View the full article

NFT tokens are taking over the investment scene these days, with unbelievable valuations and all kinds of brands and major artists rushing in. On the technology side SmartKey shows that NFT tokens can be used for more than just speculation, bringing real value and utility to the world. The project is now listed on KuCoin, with support for trading SKEY starting on March 19, 2021. SmartKey Brings Blockchain Technology to Real Life SmartKey is a platform that connects the DeFi revolution with real world objects. Unlike so many projects in the field that promise a lot but have nothing real to show for it, SmartKey has working blockchain technology that is already being used not only by companies but also by government emergency services to save lives. Last year it made headlines around the world when the city of Olsztyn in Poland used blockchain technology to streamline its fire, ambulance and police teams, reducing critical response times – using SmartKey. The advanced technologies powering SmartKey are critical to the sharing economy of the 21st century. The platform combines Oracle II generation technology with Blockchain Of Things (BoT) technology – creating digital contracts that give access to specific values such as office and home rental, parking and carsharing systems. The combination of these 3 technologies creates a unique smart contract in the form of an NFT token called SmartKey which defines the rules of access to a given value managed by an IoT sensor that grants access. The NFT – SmartKey contract is an IT record of the device and manages the locks, sensors, user verification, price, time and many others. For simple real world examples, think about a car that only unlocks with a specific NTF token or a hotel where visitors can unlock doors using a SmartKey device, so IoT sensors will log how long they have been in the room and charge them automatically. The system is so advanced it can give value to the contract in the form of determining the time of access to the room, price, determines the rules of user verification, can add a deposit or choose other elements that will affect the value, such as weather, seasonality, which are received from an Oracle. Why Should You Invest in SmartKey? SmartKey technology will create hundreds of new business models that were not imaginable before. But you don’t need to launch a smart city project yourself or something like that to benefit from it – you can already take part in the success today. The SmartKey token (SKEY) is now available on KuCoin cryptocurrency exchange, with support for the trading pair SKEY/USDT starting on March 19, 2021. The technology is trusted by impressive partners such as: Teltonika, Ferguson, Chainlink, Geodb and Ferrum. Teltonika is a company that has sold over 10 million IoT devices and actively supports the project, its devices are used by over 1,000 corporations around the world. Ferguson is the leader of Smart Home solutions in Europe, and the remaining projects provide support for blockchain processes, i.e. active deposits or the possibility of geolocating blockchain records. Many supporters of the SmartKey project believe it has what it takes to become one of the top 10 crypto assets by market valuation as it has many things going for it. The project has been operating since 2018 and was created by an experienced team of entrepreneurs from the IoT and Blockchain industries. The technology is actually useful in the real world today and the number of potential planned adaptations is in the tens of millions for IoT devices. The project also has little competition in the field: only 4 projects out of 4,000 listed on CMC or Coingecko are working on a similar technology. It has a wide product range (Cloud, Business and Rental Apps, Rescue Solution, Wallet and Key Manager), a fast growing community of over 50,000 users and shown stable growth since it started trading on a DEX. The leading project in the segment, Chainlink, now has a market cap of over $12 billion, so SmartKey investors still have a lot of opportunity to grow to similar sizes and beyond. To learn more about SmartKey go to the project’s website, and follow the latest developments on Twitter and Telegram. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

The Russian President held a meeting with the attorney general’s office where cryptocurrencies came to the discussion table. Vladimir Putin raised red flags toward taking measures to prevent illegal activities on cross-border transfers with cryptos. Putin Calls Other Offices to Join the Fight Against the Usage of Cryptos for Illicit Purposes According to a transcript made public on the Kremlin’s official site, Putin considered that the General Prosecutor’s Office should keep engaged in strengthening financial monitoring. That being said, the Russian President pointed directly to cryptocurrencies: There is one more point — quite new, but essential: to take additional measures to suppress the illegal cross-border movement of funds of digital financial assets. Criminal elements are increasingly using these digital financial assets, and this certainly needs to be paid close attention to with colleagues from other departments, including Financial Monitoring. Financial Monitoring, or Rosfinmonitoring, is the Russian government agency responsible for overseeing all anti-money laundering-related matters in the country. Per the Kremlin press office, Putin’s meeting held with the attorney general’s office was done to review the results of their work in 2020. Putin’s Latest Regulatory Moves on Cryptos In the last few months, the Russian President has been active within the crypto sphere regarding regulatory affairs. Putin signed into law on August 2020 the bill that regulates digital financial asset (DFA) transactions. One of the mandates stipulates that individuals and legal entities in Russia will only be able to challenge crypto transactions in court if they have declared these transactions and their possession of cryptos. It was approved by the State Duma, the lower house of the Russian parliament, on July 22 and by the Federation Council on July 24. The law came into force on Jan. 1, 2021. Also, in December 2020, Putin signed an order compelling the country’s government workers to disclose their cryptocurrency holdings. The decree stipulates that employees must submit details of where they bought the digital assets and the value thereof by June 30, 2021. What do you think about the warning raised by Vladimir Putin? Let us know in the comments section below. View the full article

Bank of America sees no good reason to own bitcoin other than “sheer price appreciation.” The firm’s strategists found that the cryptocurrency’s “inflation hedging benefits are not particularly apparent.” Bank of America also claims that bitcoin does not offer diversification benefits and is “impractical as a store of wealth or payments mechanism.” Bank of America Sees One Good Reason to Own Bitcoin A Bank of America team led by strategist Francisco Blanch said in a report published Wednesday that there is “no good reason to own bitcoin unless you see prices going up.” Blanch is head of Global Commodities, Equity Derivatives, and Cross-Asset Quantitative Investment Strategies at Bank of America Merrill Lynch Global Research. The strategists wrote that “Bitcoin has … become correlated to risk assets, it is not tied to inflation, and remains exceptionally volatile, making it impractical as a store of wealth or payments mechanism.” They continued: The main portfolio argument for holding bitcoin is not diversification, stable returns, or inflation protection, but rather sheer price appreciation, a factor that depends on bitcoin demand outpacing supply. Regarding using bitcoin as a hedge against inflation due to its fixed supply, the Bank of America strategists concluded that based on their data, bitcoin’s “inflation hedging benefits are not particularly apparent.” The strategists also downplayed the diversification benefits of the cryptocurrency. The Bank of America report states that bitcoin’s price is more positively correlated “with equities and commodities, while neutral/slightly correlated to haven assets such as the dollar and U.S. treasuries.” In addition, its “correlations with risk assets such as MSCI World tend to move in lock step even across asset classes.” The Bank of America strategists elaborated: “Looking year by year, we find that bitcoin has been positively correlated with CPI inflation in 5 out of the 9 past years, with the largest correlations in 2014 and 2018 … However, when looking at correlations with inflation surprises since 2011, we find that bitcoin has among the lowest co-movements, lagging most asset classes such as commodities, TIPS, and EM FX in particular.” Bitcoin’s price has repeatedly hit record highs over the past months. At the time of writing, its price stands at $57,201, up almost 78% since the beginning of the year and about 24% since the beginning of the month. Bank of America says the BTC price gains were largely driven by institutional buyers announcing big purchases, such as Elon Musk’s Tesla, Square, Paypal, and the Grayscale Bitcoin Trust. What do you think about Bank of America’s view on bitcoin? Let us know in the comments section below. View the full article

Following the recently published survey by Mizuho Securities that estimates roughly $24 billion from the $380 billion in direct stimulus checks will go toward bitcoin, a Harris Poll was released that estimates around 1 in 10 Americans have used stimulus checks to invest in cryptocurrencies like bitcoin and ethereum. Recently Published Harris Poll Says 7% of the Americans Surveyed Intend to Spend Stimulus on Bitcoin and Ethereum Three days ago, Bitcoin.com reported on a poll that was published by the Japanese banking firm Mizuho Securities. The study polled 235 individuals who make less than $150,000 annually. The survey’s responses had shown that $40 billion out of the $380 billion in direct stimulus would go toward bitcoin and stocks. $24 billion out of the aggregate or 60% would possibly flow into bitcoin (BTC), Mizuho’s survey noted. Now a new survey has been published by the Harris Poll, otherwise known as Harris Insights, which claims 1 in 10 U.S. citizens have used their stimulus checks to invest in cryptocurrencies. The Harris Poll American market research and analytics company is a reputable pollster that was created back in 1963. The company has monitored the sentiment, behaviors, and motivations of U.S.-based adults for 56 years. The survey that shows a tenth of Americans who are eligible for stimulus will buy bitcoin (BTC) or ethereum (ETH) was recorded on March 12-15, 2021. Yahoo Finance also participated in the poll which is also 4x times larger than the Mizuho survey as the Harris Poll surveyed 1,052 Americans ages 18 and older. The survey results say: A recent study finds that about 15% of Americans who received the last two stimulus checks invested part or all of the money from those checks, and about half of this group invested specifically in cryptocurrencies like bitcoin and ethereum. Non-Essential Spending Increases After Each Stimulus Check There’s been an uptick of those willing to invest in cryptocurrencies since the last two stimulus checks. More are willing to toss the money at “experimental investing” and it coincides with the increasing number of Americans spending stimulus on non-essentials, the Harris Poll survey notes. Three significant trends were noticed, the increasing of Americans hoarding the funds in savings for a rainy day, investing funds in cryptos like BTC and ETH, and non-essential spending habits such as purchasing entertainment and electronics. 52% of the Americans surveyed said that compared to before the Covid-19 pandemic, household finances have not changed. One in five participants said that their economic situation has improved in comparison to before the pandemic hit. 29% detail that their financial situations have worsened since the initial Covid-19 outbreak. The biggest spending trends included necessities like rent, mortgages, and groceries (43%), while 36% put the money aside for savings. A grand total of 15% used the money to invest in things like stocks and crypto-assets. Crypto asset investments with stimulus money accounted for 7% of the survey responses. “It’s clear, though, that right now, getting back to spending is not the sole focus for Americans,” the Harris Poll author details. “Although most of those who expect to receive the next stimulus payment do see themselves in need, a large plurality plan to put at least some of the money into their savings (40%) or invest the funds (17%). Of those who plan to invest money from the new stimulus check, 41% plan to invest in cryptocurrencies,” the Harris Insights survey emphasizes. The survey says a “small uptick in the willingness” to spend on non-essentials is clear and this has increased since the first two rounds of stimulus checks. For instance, 10% spent their first stimulus on non-essentials like investing, entertainment, and electronics devices. The second stimulus checks saw a rise to 13% and the latest Harris Poll shows 16% of those eligible for the third round of stimulus payments, “plan to spend part or all of the money on non-essentials. What do you think about the recent Harris Poll numbers and the 1 in 10 Americans spending stimulus checks on bitcoin and ethereum? Let us know what you think about this subject in the comments section below. View the full article

Nearly ten years into failed fiscal and monetary policy experiments, when trust in institutions is ebbing near an all-time low, the rationale for holding bitcoin has never been stronger. Yet, many people are neutral and non-reactive on the matter, giving credence to the current state of affairs instead of challenging the very narrative that is gambling everyones’ future for small gains today. With Inflation Historically Behind the Collapse of Economic Empires, Bitcoin Offers A Way Out Many people point to the last financial crisis of 2008-2009 as the juncture where moral hazard reached a tipping point. For those unfamiliar with the phrase, moral hazard represents the idea that when an entity knows it will be protected against the risks it takes, it will take outsized risks with the full knowledge that any failure will result in no meaningful consequences. Instead of punishing the instigators and culprits behind the last crash, too-big-to-fail organizations and governments were propped up and bailed out by taxpayers. Unfortunately, redrawing the boundaries of moral hazard didn’t create fewer risks but rather more. In the time since, interest rates around the globe have plunged to near or below 0%, resulting in an ideology whereby money printing can solve any and every problem. Now, with global debt totals hitting fresh new highs, the printing press turning at full speed, and inflation starting to run rampant, it begs the question as to why the fiat-faithful and undecided remain just that instead of embracing bitcoin. The Repercussions of Inflationary Neutrality Not embracing bitcoin or choosing not to take a position on the matter is indeed a vote of confidence in the current system. With an inflationary architecture in place and no plans to replace it, the value of money declines with each passing day. Printing more money just accelerates this reality, and zero interest rates are punishing savers like never before. Leaving money in the bank might as well be telegraphing to the world that confidence in its antiquated artifices is merited and deserved. Mortgaging people’s future to support failed policies in the present is a long-term losing strategy, and history tells us that. Eventually, the piper will be paid, and the current debt supercycle will not last indefinitely. There are countless current and past examples of these very events that underline how quickly a country can transition from a prosperous nation to a failed state. Whether looking back at the Weimar Republic or current-day Venezuela, failed governmental and monetary policies eventually lead to hyperinflation. Rampant fiat currency devaluation combined with high debt levels are nearly insurmountable challenges that ultimately result in government and institutional failure, cultivating a perfect foundation for autocracy and tyranny to flourish. Challenging The Fiat Narrative Bitcoin has already proven that another meaningful approach to this problem exists for today’s crumbling status quo. As the best performing global asset over the last ten years by no less than a factor of ten, the belief in decentralization continues to grow as institutional mistrust rises in parallel. Although there is no clear consensus on the total number of bitcoin holders given the difficulty in measuring participation, some studies suggest that over 100 million people currently own Bitcoin, reflecting a share of around 1% of the total global population. The exciting thing is that the momentum of this belief in bitcoin isn’t relegated to just one country or region but reflects a growing global community of people who believe that something better is both possible, and realistic. Many people are voting with their feet, and bitcoin wallet data reflects this accelerating trend into deflationary alternatives. Younger generations are overrepresented in this respect, which is hardly surprising given their first-hand experience witnessing the boom-bust bubble economy. Millennials, for instance, are three times more likely to own and hold bitcoin as long-term investments relative to any other generation. Generation Z is also joining the wave of participation at a feverish pace. Bitcoin as A Reflection of Waning Institutional Trust Whether or not you believe in bitcoin or the promise that cryptocurrencies hold, an insurance policy against bad governance and worse policies should not be underestimated and undervalued. The main point of having bitcoin centers on where you stand on government and your remaining faith in these very institutions’ monetary systems. Ultimately, ignorance of the institutional stranglehold on inflation and the consequences it transfers to ordinary people is very perilous. This isn’t just a local notion either, but a global reality. Accordingly, not taking a stance on bitcoin is just as bad as avoiding it, given it reflects unfettered belief and trust in the very systems that have wrought nothing but deterioration for most of society over the last decade. Trust is ultimately earned, not deserved. By design, trust isn’t needed to realize the benefits of bitcoin, but faith in its abilities is undeniably rising, putting the status quo on its back foot as new paradigms gain the confidence that people lack in government. Whether governments can rein in moral hazard is questionable, but bitcoin holds the untold promise of faith in a system that requires absolutely none to exist and grow. So where does your faith lie? – with current governmental monetary systems or with the promise of a decentralized one? Let us know in the comments section below. View the full article

On March 17, a report detailed that the digital exchange being developed by Switzerland’s principal stock exchange SIX is preparing to launch by the summer of 2021. The exchange called SIX Digital Exchange (SDX) reportedly will also offer bitcoin, alongside the possibility of non-fungible token (NFT) assets like tokenized works of art. SIX to Launch SDX by the Summer, Bitcoin to be Listed on the SIX Digital Exchange The exchange SIX based in Zurich is Switzerland’s most popular stock exchange that allows people to trade stock options, derivatives, Swiss government bonds, and other types of securities. Not only has SIX offered exchange-traded products focused on digital currencies like bitcoin (BTC) and ethereum (ETH), the stock exchange is launching a crypto asset exchange called SIX Digital Exchange (SDX) in the near future. A report written by Finews author Samuel Gerber notes in a recently published report that SDX is planning to launch soon and in addition to securitized crypto assets, the leading cryptocurrency bitcoin (BTC) will also be listed. Gerber says that SDX is “relying on an ecosystem of partners and SIX investments.” One partnership Gerber mentioned was SDX’s collaboration with the Daura consortium, a project that aims to launch Swiss cryptocurrency shares. The well known bank that also deals with cryptocurrencies, Sygnum, is also a member of the Daura consortium. During the first week of December 2020, SDX also announced partnering with SBI Digital Asset Holdings. The joint venture between SDX and SBI aims to build a regional liquidity hub for institutional digital assets in Singapore. Tokenized Works of Art and Traditional Banks Getting Into Cryptocurrencies Gerber’s report says that SDX’s launch has been delayed because of the coronavirus and also a search for external sponsors. SDX was supposed to launch during the last quarter of 2020, but it is still looking for additional shareholders in addition to the partners and Swiss banks who have already collaborated with SIX. Additionally, the Finews report highlights that SDX may also list non-fungible token (NFT) assets like blockchain collectibles and tokenized works of art. Eric Schmalzbauer, Head of U.S. Clients and Product Management at SDX thinks a lot of innovative blockchain products and crypto-related announcements will continue to happen in 2021. Schmalzbauer said that he thinks the biggest announcements this year so far, stemmed from the likes of Microstrategy and Tesla purchasing bitcoin (BTC). The SDX executive believes that big banks will follow along with these large corporations soon. The recent interview with Schmalzbauer follows the announcement from the bank Morgan Stanley, which is making three bitcoin funds available to clientele. “I believe that traditional banks, especially the bigger banks, will get involved in the later future, as they are highly regulated, and the crypto space is not mature enough yet,” Schmalzbauer detailed during his interview. “Many people may question the viability of crypto or bitcoin as a safe haven asset,” Schmalzbauer insisted. “Still, I think that over time, cryptocurrencies will help to facilitate the management of cash operations and balance sheets,” he added. What do you think about SIX’s SDX trading platform launching this summer? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. Bitcoin of America, a popular virtual currency exchange, has announced its partnership with Jambos. Jambos is a non-profit organization that helps bring comfort to thousands of children in the foster care system. Even though Jambos and Bitcoin of America differ in their services, it is their passion for working together for a greater cause that unites them. About Bitcoin of America: Bitcoin of America is a digital currency exchange, registered as a money services business with the United States Department of Treasury. Apart from ensuring a fast and hassle-free transaction, their customer support makes them the best in the industry. Their mission is to provide their customers with a fast and easy transaction process, while ensuring the best rate in the market. To date, Bitcoin of America has over 900 Bitcoin ATM locations. They are located in major cities across the USA. About Jambos: Jambos is an amazing nonprofit organization that helps bring comfort to children as they journey through the foster care system. Their hope is that every child in the foster care system experiences comfort and peace. Jambos has recognized that often times children enter foster care with few of their own belongings, which is why they find it so important that the children they serve find comfort in receiving brand new pajamas. Rebekah Black, Founder & CEO of Jambos adds, “At Jambos we are ecstatic about the impact we will be able to make thanks to Bitcoin of America! Our organization is now able to take on more territory and serve thousands more children in foster care because of their generosity and their belief in our mission!” When Bitcoin of America heard about the opportunity to bring comfort to kids in a community, they already had such a big ATM presence in, they felt they had to get involved. Jambos plans to expand their territory to Chicago and all of Georgia with the help of Bitcoin of America. They even plan to develop a new program called Jambos Teen. Visit Jambos’s website to find out ways you can help bring comfort to foster children in your community. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

One of the largest U.S. investment banks, Morgan Stanley, will be offering its wealth management clients access to bitcoin funds. Goldman Sachs, JPMorgan Chase, and Bank of America’s wealth management divisions do not currently allow their advisors to offer direct investment in bitcoin funds. Morgan Stanley to Offer Wealth Clients Access to Bitcoin Funds Investment bank Morgan Stanley, with $4 trillion in client assets, has become the “first big U.S. bank to offer its wealth management clients access to bitcoin funds,” CNBC reported Wednesday. The firm reportedly told its financial advisors in an internal memo that it is launching access to three funds that allow exposure to bitcoin, the publication conveyed, citing people with direct knowledge of the matter. According to the people, clients have been demanding exposure to the cryptocurrency, adding: Clients can likely make investments as early as next month, after the bank’s financial advisors complete training courses tied to the new offerings. Two of the bitcoin funds on offer are from Galaxy Digital: the Galaxy Bitcoin Fund LP and the Galaxy Institutional Bitcoin Fund LP. The third is FS NYDIG Select Fund, a joint effort from asset manager FS Investments and New York Digital Investments Group (NYDIG). The latter is the bitcoin investment arm of Stone Ridge Asset Management. Two of the funds have minimum investments of $25,000, but Galaxy Institutional Bitcoin Fund has a $5 million minimum. The funds are only available to clients of Morgan Stanley’s wealth management division and investments are restricted to 2.5% of the client’s total net worth, the sources revealed. Clients must have at least $2 million in assets held by the firm with “an aggressive risk tolerance” to qualify, whereas investment firms need at least $5 million at the bank. The wealth management divisions of other major U.S. investment banks — Goldman Sachs, JPMorgan Chase, and Bank of America — do not currently allow their advisors to offer direct investment in bitcoin funds, the news outlet noted. Galaxy Digital CEO Mike Novogratz and NYDIG both tweeted that they are thrilled “to partner with Morgan Stanley, the first US bank to offer access to bitcoin for their wealth management clients.” Bitcoiners welcome this move by Morgan Stanley, praising the investment bank for its contribution in making bitcoin more mainstream. Microstrategy CEO Michael Saylor wrote, “Morgan Stanley is the first bank to offer bitcoin, they won’t be the last.” Economist Saifedean Ammous, the author of The Bitcoin Standard, commented: “Today is the day the big banks entered bitcoin.” Morgan Creek Digital partner Anthony Pompliano opined: Galaxy Digital and NYDIG will both be onboarding millions of people to bitcoin via the largest US brokerage. Morgan Stanley is in the game. Bitcoin is inevitable. What do you think about Morgan Stanley offering bitcoin funds to clients? Let us know in the comments section below. View the full article

A South African crypto exchange, Ice3x, suspended trading on its platform on March 16 after noting discrepancies in balances of bitcoin and litecoin held on the platform. At the time of writing, the exchange had not revealed the cause of the mismatches in balances or when it expects trading to resume. In the meantime, a report that quotes the exchange’s CEO, Gareth Grobler, adds that BTC and LTC withdrawals have similarly been suspended. However, in his statement following the suspension of trading, Grobler reveals that subsequent consultations and deliberations on the issue with its partner, Merkeleon.com, did not yield “a satisfactory conclusion.” According to Grobler, this ultimately forced the exchange to take action that is intended to protect users. Meanwhile, as investigations into the cause of the discrepancies continue, the exchange is also urging holders of other coins to immediately withdraw. The statement reads: Currently, clients who hold any other currency (excluding bitcoin & litecoin) on the platform will be still able to withdraw their funds. We urge you to do so as soon as possible. Furthermore, the statement is warning that the exchange’s “domain/email/service desk” maybe become “unavailable as a result of 3rd party actions.” If that happens, Ice3x says users can still engage the exchange “via our Facebook page.” While it is not clear when normal service is resuming, Grobler, however, is quick to reassure users that he will not be fleeing the country. The CEO also pledges that “he will be as transparent as possible with the public.” What are your thoughts on the suspension of services by Ice3x? You can share your views in the comments section below. View the full article

PRESS RELEASE. To bring the crypto area one step forward, a dedicated team developed one of the most intriguing utility tokens that will forever change the way you see crypto – the STC token, available on its dedicated ICO since February 1st. What is an STC token? STC is the core utility token of the Student Coin blockchain project – that makes possible the creation of personalized tokens without strong technical knowledge. Having an account on the platform allows you to create: Personal tokens – unique assets tied to a single account; Startup tokens – assets that help you take a step forward to your dreams; Corporate tokens – unique assets dedicated to a single company; DeFi tokens – assets that allow you to perform various bank activities without the intervention of third parties; NFT Tokens – transferable tokens that make possible the switch between platforms. All these tokens are valued based on the STC Token, and they can be used for exchanges, trades, even crowdfunds. Why is the STC token special? The thing that makes the STC token superior to other tokens is its focus on the most important people in the world’s economy – students. They are the next generation of employees, which will mark the success of current and future companies. To give people the chance to better education, there’s a need to make university programs more accessible. But it’s not that easy. Reducing tuition fees will lead to a lower budget to afford qualitative researchers, teachers, programs, international collaborations, and so on. Until now, the solution was bank loans. However, with the unpredictable economy, people lost trust in bank services. And who can blame them? Therefore, Student Coin’s team came with a solution that decentralizes student loans – crowdfunding with personal tokens. How does it work? The future student creates their personal token. This token is put on the Student Coin market. The STC holders purchase the tokens until the student receives the money needed for tuition. After the student graduates and finds a job, a part of his salary will be locked to pay the loan. The STC holders receive a cyclical profit payment for their involvement. This project is sustained by over 500 top universities worldwide, including Harvard University, the University of Manchester, and the University of Copenhagen. A simple way for students to get the funds they need to achieve their dreams. At least, that’s the main focus, but this process can also be done for visionary entrepreneurs. And that’s not the only reason why Student Coin studs out. Holding STC tokens give users the chance to vote in the project’s development and even sign petitions if they’re needed. It’s an entire ecosystem created to give people what they need and raise the utility of cryptocurrencies. How can you buy STC tokens? To get your STC tokens as soon as possible, make sure you don’t miss the Student Coin Launchpad ICO, available until April 30th. Although it started just 45 days ago, the team already raised over $8.7 million worth of STC tokens and completed over 80 phases. Every phase finished till now had a hard cap of 150K USD, and the price increased by 1% with every reloads. Joining the ICO doesn’t just give you access to these tokens in advance, but it also gives you additional assets. If you recommend the ICO to your friends and send them a unique referral link, you can earn 20% of ETH invested by every friend of yours, alongside 30% of their STC purchases. Your friends also get an additional 5% of STC purchased. Who is behind Student Coin? Student coin is backed by a dedicated team of 44 people from 12 different countries, ready to expand crypto usability and create solutions for the world’s needs. Among them, you can find the former CTO of IBM for Europe, for example, or the president of the Harvard University Club of Poland. By the end of 2021, the team plans to develop and implement STC Exchange, STC Terminal, and even an STC App, alongside listing the token on major crypto exchanges. So, if these innovative ideas caught your attention, join the ICO and make sure to follow them on social media to be up to date with their features. Instagram: https://www.instagram.com/student.coin.world/ LinkedIn: https://www.linkedin.com/company/student-coin-worldwide/ Twitter: https://twitter.com/studentcoinorg Facebook: https://www.facebook.com/studentcoin.org Telegram: https://t.me/studentcoin Reddit: https://www.reddit.com/r/Studentcoin/ Discord: https://discord.gg/Nx65dMZcMt This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Following the $69 million non-fungible token (NFT) digital art auction at the world-famous auction house Christie’s, the British-founded American multinational corporation Sotheby’s is joining the NFT hype. Sotheby’s is partnering with a popular digital artist dubbed “Pak” for the NFT sale as the brokerage house believes it is important to work with established NFT artists. Sotheby’s Partners With Digital Artist Pak to Introduce the Company’s First NFT Auction Sotheby’s is one of the world’s largest brokers of fine and decorative art, jewelry, and collectibles since 1744. It is also the world’s fourth oldest auction house and now the company says it is entering the non-fungible token (NFT) ecosystem. The company is likely eying the money being made after Beeple sold an NFT at the auction house Christie’s last week raking in $69 million. The Beeple sale was the fourth-largest art sale in 2021, and Sotheby’s plans to get in on the action with an anonymous NFT artist called Pak. (Pictured left) Pak, Metanoia, no date. (Pictured right) Pak, Cards of Entropy, no date. Art photos courtesy of Sotheby’s. Sotheby’s announcement is rather cryptic and the company says it can’t reveal all the details concerning the upcoming NFT sale. There’s not much information about the anonymous artist Pak either, Sotheby’s announcement emphasized that this is “just the first step for us.” “We wanted to partner with Pak because we are entering a whole new world with digital art, and we felt it was important to work with an artist who has been active in the community for many years,” Sotheby’s explains. “While we can’t yet reveal full details of what’s to come, we want to be true to the democratic spirit of crypto and will be working together to attract as many people as possible to take part in this next adventure, so prepare for some surprises.” Sotheby’s Plans to Introduce Popular Contemporary Artists Into the Digital Art Space Sotheby’s further added it is also looking for the means to “how we can not only enter the digital art sphere, but create a bridge from digital art to our auction business.” The NFT announcement from the auction house and its collaboration with Pak, will follow with “introducing well-known contemporary artists into the digital art space.” Alongside this, Sotheby’s plans to accept crypto assets for the artwork being sold by the auction house. Stats from the web portal art.io, shows Pak has raised more than $350 million in NFT art sales and in 2020, the artist was the first to earn a million for an NFT. However, after Beeple’s “Everydays” collection launch, Pak was outperformed by Beeple’s massive sales. Max Moore, Sotheby’s head of contemporary afternoon sales explained in a recent interview that of course, high profile NFT art sales will bring about a number of criticisms in the art world. “This brings on some remarks about a bubble, speculation, and an unhealthy marketplace,” Moore detailed. “But digital art is not a new concept. It’s intersected with art before, in artists like Nam June Paik and Bill Viola,” the Sotheby’s executive insisted. Sotheby’s head of contemporary afternoon sales further added: The real difference here is, it’s linked to the value of cryptocurrency and some of the blockchain capability that artists have been using to push the boundaries of the framework it can provide for the artist as a creator. What do you think about Sotheby’s getting into the NFT art space with a partnership with the digital artist Pak? Let us know what you think about this subject in the comments section below. View the full article

The Texas securities commissioner has entered emergency cease and desist orders to stop three cryptocurrency investment platforms from duping investors in the state. One scheme operates under the name “Binance Assets.” The regulator has found that all three platforms are fraudulent. Texas Seeks to Stop 3 Crypto Platforms Operating in the State Texas Securities Commissioner Travis J. Iles entered a pair of emergency cease and desist orders Monday targeting three unregistered online cryptocurrency investment platforms. They are Delta Crypt Ltd. (also known as Binance Assets), Fxsmart Robots, and Digitaly Invest. The latter is not the same company as Digital Invest or Digitally Invest. The commissioner’s order emphasizes that none of the platforms is registered to sell securities in Texas and their investment plans are not registered or permitted for sale in the state. The Philippine Securities and Exchange Commission previously issued a public advisory order against Delta Crypt, which claims to be a legit U.K.-registered business. The Southeast Asian regulator warned that the company “was illegally offering securities paying ‘ridiculous’ returns,” urging the public “not to invest or stop investing in any scheme offered” by Delta Crypt, the Texas order describes, elaborating: Following the issuance of the prior warning, Delta Crypt allegedly removed its website and instead of shutting down operations began a new online investment scheme – this time acting under the names Binance Assets, Binanceassets Ltd. and Bit Kind Ltd. The company now advertises a variety of cryptocurrency investment plans. For example, the Gold Plan pays a guaranteed 30% return and the Diamond Plan pays a guaranteed 40% return. The Texas commissioner’s order found the crypto offering by Delta Crypt to be “fraudulent and deceptive.” It accuses the company of “concealing important information about its principals, the warning from the Philippines government, and the risks associated with cryptocurrencies.” In addition, “Delta Crypt has been illegally soliciting sales agents, promising to pay commissions regardless of registration or licensure,” the order states. The second order names Digitaly Invest and Fxsmart Robots, two investment schemes whose websites are almost identical. The two platforms similarly offer investment plans with guaranteed returns, including the Gold Plan, which pays a guaranteed 30% return, and the Diamond Plan, which pays a guaranteed 40% return. Both websites claim to offer cryptocurrency trading. Noting that the claims made by the two platforms are found to be fraudulent, the Texas securities commissioner explained: The parties are allegedly concealing important information – including the identity and qualifications of principals, material financial information, and the significant risks associated with the underlying products. What do you think about Texas issuing orders to stop these fraudulent crypto schemes? Let us know in the comments section below. View the full article

Visa CEO Al Kelly anticipates that cryptocurrency could become “extremely mainstream” within five years. He is working to position Visa in the middle of it should cryptocurrency take off. He further confirmed that Visa is working to allow bitcoin purchases, in addition to enabling the cryptocurrency to be used at 70 million stores where Visa is accepted. Visa Anticipates Crypto Going ‘Extremely Mainstream’ In the Leadership Next podcast with Alan Murray and Ellen McGirt published Tuesday, Visa CEO Al Kelly talked about bitcoin and his company’s cryptocurrency strategy. Given the recent rise in the price of bitcoin, he was asked what it means for his credit card business. “I would like to divide crypto into two buckets,” Kelly began. “One is the more speculative asset” or “digital gold,” he explained, adding that he put bitcoin in this category. The CEO elaborated: In that category, we are trying to do two things. One is enable the purchase of bitcoin on Visa credentials. Secondly, Visa is “working with some bitcoin wallets to allow bitcoin to be translated into a fiat currency and therefore immediately be able to be used at any of the 70 million places around the world where Visa is accepted,” Kelly added. “The other category of crypto is digital currencies,” he continued, adding: There, we see a strong potential for those to become a new payment vehicle. In fact, it could be an accelerant in some of the emerging markets as we look around the world. He proceeded to reveal that Visa is “working with lots of players” in this category. “There are about 35 different players we are working with,” he specified, clarifying that “These are currencies that are fiat-backed [stablecoins].” His statement echoes what Visa explained in its Q1 2021 earnings call. “Our strategy here is to work with wallets and exchanges to enable users to purchase these currencies using their Visa credentials or to cash out onto our Visa credentials to make a fiat purchase at any of the 70 million merchants where Visa is accepted globally,” the company informed its shareholders. During Tuesday’s podcast, Kelly was also asked where Visa stands given that cryptocurrency is used to lower the cost of transactions, so users do not have to pay as much to Visa and Mastercard as they do today. “The thing about our business that I actually like is that we don’t pick winners and losers,” he described. “As you and I sit here and talk today, I don’t know to what degree cryptocurrencies are going to take off. Are we going to say in five years that it was a fad and it was not a big deal? Or is it going to be extremely mainstream? I’m not smart enough to know but what I am smart enough to do is make sure that our company is in the middle of it today so that if it takes off, we are in the middle of helping move that money.” He then compared Visa’s business model today to how it was previously, clarifying that Visa used to be all about people using its products to buy and sell goods and services. “Today we made the company a company all about money movement globally so any kind of funds that are going to flow, we want to be in the middle of that,” he affirmed, emphasizing: If it takes off and we can get our fair share or more of the volume because we anticipate this possibly could take off and become a big deal, we certainly want to be prepared for that, and I think we are off to a very good start. What do you think about Visa’s bitcoin strategies? Let us know in the comments section below. View the full article

The crypto economy is on the cutting edge of both finance and technology, which means that you need to be ever vigilant in protecting your digital assets. A critical component of doing so is using a hardware wallet from a company you can trust, like Ledger, to securely store your private keys. Not Your Keys, Not Your Coins Anyone who has been following the cryptocurrency industry even a little bit has heard way too many stories about exchanges getting hacked, or simply disappearing overnight, leaving investors without any of the assets they thought they owned. This can happen because when you have a balance at an exchange you don’t really control the coins you think you do. Only by keeping the private keys yourself you can truly own a digital asset. Storing your private keys yourself might sound daunting to a newcomer to crypto, but luckily there are powerful yet user-friendly solutions. A hardware wallet is a physical device that stores your private keys in a secure chip. With a hardware wallet, your private keys always remain offline and thus safe from any cyber attacks. Many experienced users believe this is the best way to secure your crypto over other solutions like paper wallets and software wallets. When selecting your hardware wallet you will notice that not all hardware wallets offer the same level of security and control. And when it comes to your money you have to pick a solution you can trust from a brand everyone knows to be safe for many years. Founded in 2014, Ledger is a global leader in security and infrastructure solutions for critical digital assets and blockchain applications. Ledger sold over 2 million hardware wallets in more than 165 countries. Choose the Best Ledger Wallet for You Using a Ledger hardware wallet, combined with an app, you can easily and securely store your crypto we well as access key services. You can manage more than 1800 crypto assets with a single Ledger device. The Ledger Nano series uses the most secure type of chips to store your private keys – a secure element. It is designed to withstand sophisticated attacks, and with this certified chip, your private keys never leave the device – which means no one can access them but you. The Ledger hardware wallet is also the first and only certified hardware wallet available on the market. And Ledger wallets are the only hardware wallet to have their own custom OS (BOLOS) to protect the device against malicious attacks and isolate applications from each other. Ledger currently offers two types of Nano hardware wallets. Both offer the same level of protection for your crypto assets so you can feel safe to pick the one that fits you the most. The Ledger Nano S is considered to be the best way to securely buy and hodl your favorite crypto. It is the world’s most popular hardware wallet and world-renowned for its robustness. With about 3 to 6 crypto applications installed you can use it to secure and manage your favorite crypto such as Bitcoin or Ethereum. The Ledger Nano X is considered to be the best way to easily and securely manage all your crypto assets everywhere. It is the most advanced hardware wallet in the world and offer powerful features such as Bluetooth to trade on-the-go, at anytime with your smartphone. You can secure a large number of assets with up to 100 coin applications installed on the Ledger Nano X. The device also features a bigger screen and better ergonomic design for extra convenience. Once you buy your first Ledger hardware wallet you will see that it can do much more than just than storing and securing coins – it opens up a whole world of key crypto services. The next story in this two-part series about Ledger will explain all you can do with the full Ledger solution, a hardware wallet combined with the Ledger Live application – stay tuned! This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

The nonprofit foundation behind the privacy-driven messaging app Signal is officially joining the cryptocurrency venture. In this case, the Signal Foundation announced it has started accepting crypto donations. Signal Foundation Also Takes Donations in Privacy Coins According to an announcement via Twitter, the organization encouraged people to arrange donations via cryptocurrencies, but it’s not limited to bitcoin (BTC) or ethereum (ETH). Per their landing page, the foundation also supports litecoin (LTC), chainlink (LINK), zcash (ZEC), amp (AMP), Basic Attention Token (BAT), dai (DAI), gemini dollar (GUSD), storj (STORJ), and 0x (ZRX). The addition of privacy coins comes in response to a number of social media users asking Signal to add such cryptos to “comply” with their privacy-driven philosophy. A tweet from Signal reads: As a nonprofit organization, we depend on your support. If you’ve been patiently waiting for Signal to accept cryptocurrency donations, you no longer need to hodl back your generosity. Regarding the crypto payment processor used, the Signal Foundation stated it will handle all payments via The Giving Block, a company specialized in processing crypto donations for nonprofit organizations. Moreover, the team behind the Signal app pointed out that those who want to claim U.S. tax deduction can optionally “provide an email address to receive a tax receipt.” The foundation further clarified that The Giving Block supports anonymous donations. App Endorsed by Crypto-Friendly Personalities Signal, created in 2018 by Moxie Marlinspike and Brian Acton, is a well-known privacy messaging app with more than strong encryption features. In fact, the app has received mainstream endorsement globally from crypto-friendly personalities, such as American whistleblower Edward Snowden, Twitter co-founder Jack Dorsey, and Tesla Technoking Elon Musk, who recently encouraged his Twitter followers to start using it. Recently, due to the controversy sparked by Whatsapp changing its terms and conditions, Signal’s user base skyrocketed in a matter of hours. What do you think about Signal accepting crypto donations? Let us know in the comments section below. View the full article

Social Alpha Foundation is set to auction works from top NFT artists on the Nifty Gateway to support Open Earth Foundation’s efforts to bring open digital solutions designed to address climate-related issues. Auction Sponsor Render Network To Donate Carbon Credits To Offset NFT Impact Excitement over NFTs has hit a fever pitch as auctions break new sales records almost weekly. The latest collection sold by artist Beeple, titled “Everydays: The First 5000 Days”, saw 5000 original works compiled in a single JPEG image fetch an astounding $69 million during an auction hosted by Christie’s. Beeple, who addresses climate issues by framing the environment as fighting against mankind in its work, now ranks as one of the most valuable living artists alive after becoming the most commercially successful NFT artist. As interest in these works expands, the NFT space’s champions are harnessing this growing public interest to back environmental causes through a charity auction. Social Alpha Foundation(SAF), the brainchild of co-founders Jehan Chu and Nydia Zhang, will be hosting a charity auction in collaboration with Nifty Gateway to bring more attention to the environmental impact of NFTs and the larger blockchain ecosystem. Raising Awareness Through Art The auction, slated to commence March 20th and run for 48 hours, will feature original climate-oriented pieces donated by top artists in the NFT space, including Beeple, Sara Ludy, FVCKRENDER, Andres Reisinger, Refik Anadol, Joanie Lemercier, GMUNK, and Kyle Gordon. Render Network (RNDR), the auction’s sponsor, will donate carbon credits designed to offset the 500-ton carbon footprint that underpins the auction’s production. Moreover, the artists have committed to reducing and offsetting their footprints to show stewardship in the global battle against climate change. 100% of the auction’s proceeds will be donated to Open Earth Foundation, a non-profit blockchain initiative developing open-source technologies designed to address the environment’s most pressing issues and account for the human impact. Proof-of-work (PoW) blockchains, such as Ethereum and Bitcoin, have long been the environmental activists’ target due to the immense volumes of energy needed to run these networks. NFTs have also come under fire for similar reasons. Accordingly, this auction will showcase the artists’ efforts to take inventory of their artworks’ environmental impact. Bitcoin.com’s newsdesk reached out to the organizers of this auction with the following question: Don’t you feel there is an inherent paradox in environmentally unfriendly NFTs being auctioned for environmental causes? Instead of crediting back the 500-ton carbon footprint, wouldn’t it have made more sense to just not create these NFTs? Martin Wainstein, Executive Director at Open Earth Foundation, replied: What is environmentally unfriendly is not the NFTs, it’s the PoW algo of Ethereum and Bitcoin. With that said, Ethereum and Bitcoin have ushered in very important disruptive innovations, but they need time to evolve. Climate action requires a transition. When we negotiate on climate, we gather at the UN and everyone has to take a flight – which emits a lot more than NFT Art. If we don’t start pushing the boundaries and showcase the merits of NFT Art on the existing platforms, then where do we start? What do you think of the environmental cost of NFT – worth it or not? Let us know in the comments section below. View the full article

South Korean authorities seem to be focusing on strengthening measures to combat tax evasion across the nation. The country’s tax watchdog profiled thousands of evaders that relied on cryptocurrencies to hide assets worth billions of Korean won. Evaders Hid a Total of $32.24 Million in Assets Per the Korea Herald, the National Tax Service of South Korea (NTS) identified 2,416 individuals who reportedly hid their assets in cryptos to bypass taxation. The agency stated that evaders used bitcoin (BTC), ethereum (ETH), ripple (XRP), among other cryptos, to avoid being scrutinized by the tax authorities. According to the officials, assets involved in the tax evasion account for a total of 36.6 billion won ($32.24 million). Also, the NTS clarified they mainly targeted people owing over 10 million won ($8,800) in taxes. Still, the tax authorities managed to recover hidden assets in cash and bonds. At the same time, they launched an investigation against 222 of those who allegedly evaded tax payments. The agency issued the following statement: The recent probe was a part of our ongoing efforts to strengthen a crackdown on anti-social tax dodging. We will capture highly intellectualized (tax-evading) cases and quickly redeem their concealed properties. Domestic Crypto Exchanges Collaborated With the NTS The NTS stated they relied on domestic crypto exchanges to gather personal data from the alleged tax evaders. It included individuals’ trading reports and banking information, which fully complies with the strict regulations that currently rule the crypto sphere in South Korea. Under the law, South Korean crypto exchanges must use the real-name system by partnering with a financial institution to provide this service. Banks will be obligated to conduct customer due diligence on the crypto businesses they deal with, ensuring proper reporting to the Korea Financial Intelligence Unit (KOFIU). Bitcoin.com’s newsdesk reported that the South Korean government issued an amendment to introduce a 20% tax on cryptocurrency trading profits. Although it was enacted in February, the legislative clarified early this year that the new rule will start applying in 2022. What do you think about the recent crackdown on tax evaders in South Korea? Let us know in the comments section below. View the full article

PRESS RELEASE. TNC Group, the global blockchain entity responsible for massive projects in the blockchain and crypto space, recently launched the Aladdin Exchange — a UAE-based cryptocurrency exchange. The TNC team moves closer to realizing their vision of pushing forward more blockchain technology adoption in the world as the exchange garnered much support even before its launch. Before the launch of the Aladdin Exchange, the team conducted a pre-registration event. In this event, the platform amassed 1.5 million users, which is already a massive success according to the group. “We are expecting more users as they have many rewards in store for those who register,” the team announced. By the end of March, qualified users can participate in Aladdin Exchange’s 1 million USD event. In this event, users have a chance to win various prizes that the team prepared to celebrate the launch. TNC also integrated the Aladdin Exchange with their existing project, the Aladdin Pro wallet. Aside from the registration and SMS verification requirements, users who want to participate in the event must also complete the level 3 verification in the Aladdin Pro wallet. For those who want to see more details on how to be eligible to join this event, they can check information in the Aladdin Exchange official website. The Aladdin Exchange is one of the major projects powered by the TNC Group. It will be an integral part of the TNC ecosystem along with the other TNC projects such as the TNC Crypto M&A, Real Research, and more. According to the team, they are very excited for the launching of the Aladdin Exchange platform. The TNC Team mentions that the Aladdin Exchange is a byproduct of years of research and hard work. Their team dived into the most cutting-edge exchange technologies and latest blockchain developments in order to create and develop the Aladdin Exchange. With this, the exchange can support the massive amount of users and the top crypto pairings with the most demand such as BTC, ETH, USDT, LTC, TNC, ABBC, and many others. Aside from the advanced technological aspects, the exchange also boasts of three core values which they highlighted in their website. These values are security, convenience, and transparency. The team aims to keep aiming to apply these values as they provide their exchange services to their users. Media contact: social@aladdin25.com This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Hedge fund manager Bob Prince has warned that the recent sell-off in the U.S. government bond market could accelerate and this could “threaten high-flying assets” like cryptocurrencies and blank cheque companies. Prince, who is the co-CIO at Bridgewater Associates, links this looming downturn in the $21 trillion Treasury market to the improving economy as well, as growing inflation pressurizes. These two factors according to Prince could “push the Federal Reserve to consider reeling back its stimulus measures.” Still, as one report explains, the Federal Reserve policymakers are “brushing off the Treasury sell-off as a healthy reaction to the budding U.S. economic recovery.” However, Prince asserts that this “surge in cryptocurrencies like bitcoin is a manifestation of that environment created by the loose monetary policy of the US central bank and stimulus provided by the U.S. Congress.” Meanwhile, the report says U.S. inflation expectations have picked up this year, hitting the price of government bonds and pumping up their yields. This in turn has already “hit fast-growing technology companies such as Netflix, Amazon, and Tesla since their elevated valuations have been underpinned by low rates.” In the meantime, the same report also explains that foreign investors, one of the biggest buyers of Treasuries after the Fed, have already shown less appetite for U.S. sovereign debt as their losses have piled up. The yield on the 10-year Treasury recently climbed above 1.6 percent from 0.9 percent at the end of last year. This according to Ice Data Services, “has resulted in the worst quarter for Treasury investors in more than four years.” Do you agree with Prince’s classification of cryptocurrencies as high-flying assets? You can share your views in the comments section below. View the full article