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Crypto Energy Wars

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Elon shone a spotlight on bitcoin’s prodigious energy use. Is it possible to be a carbon conscious crypto investor?

Major market moves are always so painfully obvious in retrospect. The price of bitcoin surged almost 600% in six months. Alts did that and a whole lot more. Absolute dumpster pile meme coins were being valued in the tens of billions. And yet we were all out there screaming for US$100k bitcoin and one dollar DOGE. What were we thinking?

So, while Elon’s now infamous broadside on bitcoin’s energy usage felt like the cause of the collapse, it’s perhaps better understood as the catalyst for the Crash We Had to Have. (And hopefully just a brief rest before the bull run resumes in full force).

The bigger question though: is Elon right? Is bitcoin destroying the environment? Can cryptocurrency be justified in a carbon conscious age?

It ain’t easy being green

While nobody enjoys a 50% haircut to their crypto portfolio, a little more reflection on crypto’s energy usage isn’t the worst thing in the world. Few issues are more pressing than climate change and it’s not good enough to simply say that mining gold or traditional finance are worse when it comes to carbon emissions.

The truth is that there isn’t enough transparency around bitcoin’s energy mix right now. While previous analyses have suggested that over 70% of bitcoin mining uses at least some renewable energy, it’s hard to make any definitive statements about how much carbon bitcoin produces because the mining outfits themselves are famously opaque (read: based in China).

Fortunately, there are glimmers of change emerging. China’s recently announced crackdown on bitcoin mining is already pushing mining operations to locations with better oversight. Elon himself announced that he’d been meeting with North American miners to discuss making bitcoin more sustainable. Meanwhile, the Crypto Climate Accord is a worldwide consortium of crypto miners and blockchain companies looking to go carbon neutral by 2030. Research from payments provider Square has even shown how bitcoin mining could become a driver of renewable energy growth.

Is bitcoin worth saving?

But bitcoin undeniably does use, I believe the technical term is, a shitload of energy and there are plenty of cryptocurrencies that do what they do with a minuscule fraction of its electricity demands. Coins like Ripple (XRP), Stellar (XLM), Algorand (ALGO) and EOS – which you can invest in en masse with CoinJar’s new Green Bundle.

Does that mean there’s no place for bitcoin in a post-carbon world? Not entirely. Many of the things that make bitcoin so interesting, so revolutionary – its decentralisation, durability, censorship-resistance and permissionless nature – are inextricably bound up with the energy it takes to produce it. While other blockchains may use less energy, there’s always a sacrifice made along the way. Bitcoin is the original blockchain, the purest and most accessible expression of digital value we’re ever likely to see. And the price of admission is energy.

So, it’s on the crypto community – the investors, miners, entrepreneurs and traders – to start pushing for better practice and more transparency. Cryptocurrency has long wanted to be taken seriously by the rest of the world. Taking responsibility for and finding new ways of mitigating our carbon usage is one way we can prove that we’re actually the legitimate force for good we often claim to be.

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Source: https://blog.coinjar.com/crypto-energy-wars/

Blockchain

EGLD Technical Analysis: Breakout of Price Beyond $240.83 Seen, Bullish Day Ahead

EGLD Technical Analysis: Breakout of Price Beyond $240.83 Seen, Bullish Day Ahead

Rate this post Elrond is described as a part of the technology ecosystem for the new internet, including, fintech, decentralized finance, and even the Internet of Things. Elrond platform is capable of performing 15,000 transactions per second, with a latency of six seconds. Let us look at the technical analysis of EGLD. Past Performance On September 16, 2021, EGLD started trading at $241.89. As of September 22, 2021, the closing price of EGLD was $230.51. Thus, in the past week, the EGLD price has decreased by roughly 4.90%. And, in the last 24 hours, EGLD has traded between $202.34-$241.99. https://www.tradingview.com/x/iqVxlFYS/ EGLD Technical Analysis The EGLD price is in a regression trend, which is trading in an upward direction. The price takes support from the support line of the trend and bounces back to the mid-range level. Currently, the price is trading near the mid-range and its long-term resistance level. As per the Elrond market behavior, we can expect it to give a breakout from this range.  Let us see what the indicators are indicating: Currently, EGLD is trading at $240.83. The price has increased from the opening price. Thus, we can witness some bullish momentum in the EGLD token. However, on the chart, we can see that the price is trading in an upward direction. A breakout can be on the horizon. On the daily chart, the MACD and Signal lines are in the positive zone. Moreover, by forming a bearish crossover by the MACD line over the Signal line. Thus, the overall market momentum is bearish, and we can expect the EGLD price to fall. However, both the lines are close to the zero lines and may change signs soon. Thus, there may be a trend reversal on the horizon. The RSI indicator is at 57%. It is currently resisting itself to move upward. Thus, the buying pressure can be seen mounting slowly. Hence, we can expect the price to rise again after a few hours. Day-Ahead and Tomorrow The EGLD price has fallen below the Fibonacci pivot point of $250. As some of the oscillators have shown bullish signals, we can expect the price to rise above the Fibonacci pivot level of $249.35 soon. A breakout from this level will highlight the next resistance at $273. The price has tested and fallen below the 23.6% FIB retracement level of $249.37. If the price falls below the 23.6% FIB extension level after some time, this implies that the price downtrend is strong. In that case, the price downswing is likely to continue tomorrow as well. Furthermore, the price can retest the support level at $202.87.

The post EGLD Technical Analysis: Breakout of Price Beyond $240.83 Seen, Bullish Day Ahead appeared first on Cryptoknowmics-Crypto News and Media Platform.

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Elrond is described as a part of the technology ecosystem for the new internet, including, fintech, decentralized finance, and even the Internet of Things. Elrond platform is capable of performing 15,000 transactions per second, with a latency of six seconds. Let us look at the technical analysis of EGLD.

Past Performance

On September 16, 2021, EGLD started trading at $241.89. As of September 22, 2021, the closing price of EGLD was $230.51. Thus, in the past week, the EGLD price has decreased by roughly 4.90%. And, in the last 24 hours, EGLD has traded between $202.34-$241.99.

TradingView Chart

EGLD Technical Analysis

The EGLD price is in a regression trend, which is trading in an upward direction. The price takes support from the support line of the trend and bounces back to the mid-range level. Currently, the price is trading near the mid-range and its long-term resistance level. As per the Elrond market behavior, we can expect it to give a breakout from this range.  Let us see what the indicators are indicating:

Currently, EGLD is trading at $240.83. The price has increased from the opening price. Thus, we can witness some bullish momentum in the EGLD token. However, on the chart, we can see that the price is trading in an upward direction. A breakout can be on the horizon.

On the daily chart, the MACD and Signal lines are in the positive zone. Moreover, by forming a bearish crossover by the MACD line over the Signal line. Thus, the overall market momentum is bearish, and we can expect the EGLD price to fall.

However, both the lines are close to the zero lines and may change signs soon. Thus, there may be a trend reversal on the horizon.

The RSI indicator is at 57%. It is currently resisting itself to move upward. Thus, the buying pressure can be seen mounting slowly. Hence, we can expect the price to rise again after a few hours.

Day-Ahead and Tomorrow

The EGLD price has fallen below the Fibonacci pivot point of $250. As some of the oscillators have shown bullish signals, we can expect the price to rise above the Fibonacci pivot level of $249.35 soon. A breakout from this level will highlight the next resistance at $273.

The price has tested and fallen below the 23.6% FIB retracement level of $249.37. If the price falls below the 23.6% FIB extension level after some time, this implies that the price downtrend is strong. In that case, the price downswing is likely to continue tomorrow as well. Furthermore, the price can retest the support level at $202.87.

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Source: https://www.cryptoknowmics.com/news/egld-technical-analysis-breakout-of-price-beyond-240-83-seen-bullish-day-ahead/

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Bitcoin.org Hacked, Showing Sign of “Double Return Bitcoin” in Gift Scam


Bitcoin.org, an open-source and peer-to-peer platform focused on bitcoin development, was hacked this Thursday morning by showing bitcoin’s giveaway activities. (Read More)

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Bitcoin.org, a peer-to-peer (P2P) and open-source platform focused on bitcoin development was hacked this Thursday morning by showing bitcoin’s giveaway activities.

Starting at about 05:44 UTC on Thursday, a sign of “This website cannot be accessed” displayed on the Bitcoin.org website.

After that, an aside window popped up on the Bitcoin.org homepage, asking users to deliver Bitcoins to a dedicated address with an attached QR code and address, and claimed that it would be returned in double in the future.

The news stated that the campaign was targeted at the bitcoin foundation to give back to the user community that it has always supported and was limited to the first 10,000 users.

Bitcoin.org is not affiliated with the Bitcoin Foundation, but the site often appears when users search for bitcoin on search engines.

At present, the direct URL of the website cannot be accessed, and other subpages cannot operate normally.

The user is promised a doubled false promise through false gift fraud after transferring encrypted assets to this wallet address, causing the user to lose the transferred bitcoin.

According to the data on the chain, the receiving address has received 0.4 BTC in the past few hours, with a total value of more than $17,700.

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Source: https://Blockchain.News/news/bitcoin.org-hackedshowing-sign-double-return-bitcoin-gift-scam

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Bitcoin, Ether, or XRP – The crypto of choice for terror funding is…

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It has been a tense time for Coinbase. The crypto-exchange recently felt the regulatory squeeze when the United States SEC reportedly threatened to sue if Coinbase launched its high-interest crypto product – Lend.

These developments, however, haven’t stopped the exchange from highlighting its efforts towards compliance. A recently-released Twitter thread is a case in point.

The crypto-exchange yesterday shared statistics about cryptocurrencies’ link to global terrorism, and what it is doing to combat the threat.

Coinbase investigates

Cryptocurrency’s “links” to terrorism are a major reason behind the FUD among international policymakers and regulators.

And yet, a report by Coinbase’s Special Investigations Team found that “illicit activity” made up less than 1% of all activities in the crypto-space in 2020. This was an observation arrived at after looking at the BTC, ETH, LTC, BCH, and XRP blockchains or ledgers.

About terrorism, the report stated,

“Further breaking down illicit activity, we find that transactions associated with terrorist financing (TF) in 2020 made up less than 0.05% of all illicit volume. As such, terror funding in cryptocurrencies remains extremely low in overall terms.”

It’s worth noting, however, that the report identified the Palestinian militant group Hamas as having raised the most funds among terrorist organizations.

Do terrorists have any preferences?

According to the said report, Hamas has collected more than $750,000 in Bitcoin since 2018. After Hamas, the Saudi-led jihadi activist movement has raised more than $250,000 in Bitcoin and altcoins. In third place, came an Al Qaeda-related exchange service.

Source: Coinbase Blog

Bitcoin was the most prominent crypto in terrorism financing, but the report also identified the growing popularity of altcoins such as XRP and Ether.

Bitcoin’s popularity could be due to its status as the biggest crypto and the coin’s relative stability. Meanwhile, XRP’s use case is similar to the cross-border hawala remittance practice common in Middle Eastern and South Asian cultures.

In order to stop terror funding campaigns, Coinbase claimed it would “blocklist” crypto-addresses related to such institutions, use its analytics, and work with agencies like the FBI.

Analyzing Hamas

Put simply, the Palestinian organization aims to destroy Israel. It has two main components – A military force and a social welfare arm.

In 2020, Chainalysis reported how the organization’s Izz ad-Din al-Qassam Brigades (AQB) launched multiple campaigns to raise Bitcoin donations. Their tactics included instructional videos for both basic and experienced tech users, as well as unique payment addresses for every donor.

While crypto-terror funding is a small part of the vast DeFi sector, traders can expect to see more exchanges and companies keeping a watch on organizations classified as terror groups.

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Source: https://ambcrypto.com/bitcoin-ether-or-xrp-the-crypto-of-choice-for-terror-funding-is

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