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Norton Adds Ethereum Mining To Its Suite of Antivirus Software Services

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Antivirus software firm Norton has announced a surprising addition to its lineup of software – Ethereum mining functionality.

But with cryptocurrency mining becoming the subject of fierce debate lately, some are questioning the timing and substance behind this news.

Ethereum Mining Through Your Virus Checker

A select number of Norton 360 customers, who joined the early adopter program, received their invites to mine Ethereum today. The program is expected to expand to include all 13 million Norton customers in the coming months.

In explaining the odd pairing, the firm said cryptocurrency mining is fraught with risk and often involves disabling security and allowing “unvetted code”. This leaves miners vulnerable to skimmed earnings and ransomware.

Norton claims to address these issues by enabling users to safely and easily mine cryptocurrency through the user-friendly Norton 360 platform.

The CEO of NortonLifeLock, Vincent Pilette, said cryptocurrency is becoming a more significant part of our lives. From that perspective, it makes sense to offer users interested in mining the opportunity to do so on Norton.

“As the crypto economy continues to become a more important part of our customers’ lives, we want to empower them to mine cryptocurrency with Norton, a brand they trust.

Norton Crypto is yet another innovative example of how we are expanding our Cyber Safety platform to protect our customers’ ever-evolving digital lives.”

Earnings are channeled into a cloud-based cryptocurrency wallet. The company points out this eliminates the problem of lost funds through hard drive loss or failure.

In terms of “cashing-in,” a Norton spokesperson said the software would incorporate a button allowing users to transfer to a Coinbase wallet.

Does This Idea Have Legs?

Ethereum’s transition from a Proof-of-Work mining system to a Proof-of-Stake delegation system is perhaps a year or two away. As such, in the not too distant future, mining on Ethereum will cease to exist.

Speaking to CNN, Norton addressed this point by saying mining Ethereum is the initial cryptocurrency on offer. But they are thinking about adding other “reputable” cryptos in the future. At this point, there is no indication of which other cryptocurrencies are under consideration.

“While the company will start slow, with a focus on helping customers safely mine Ethereum, NortonLifeLock is considering adding reputable crypto currencies in the future.”

In the past three weeks or so, the environmental impact of cryptocurrency mining has been thrust firmly in the spotlight. Some would argue that offering home users a low barrier of entry to mine cryptocurrency will promote further environmental damage.

Add to that the inability for domestic energy users to select their energy source, and the likelihood of fossil fuel use is higher. There are also questions about users with lower-spec/older GPUs struggling for profitability after accounting for electricity costs.

In other words, fostering a “Norton pool” of inexperienced miners will likely see the majority lose money.

Source: https://bitcoinist.com/norton-adds-ethereum-mining-to-its-suite-of-antivirus-software-services/?utm_source=rss&utm_medium=rss&utm_campaign=norton-adds-ethereum-mining-to-its-suite-of-antivirus-software-services

Blockchain

Bitcoin Mining to Relocate from China to US Amid Crackdown

Bitcoin Mining China US

Rate this post Following the nationwide crackdown on miners, Bitcoin mining operations in China are gearing up to relocate three tons of crypto mining equipment to the US. The new reports emerged just a few weeks after authorities in several provinces ordered power companies to discontinue supply to mining firms. Bitcoin Mining Operations Are Transitioning From China to The US In light of China’s hardening stance on crypto mining, Bitcoin moguls in the country have started to look elsewhere for lucrative opportunities.  The world’s most populous nation banned crypto-related services in May and decided to monitor mining activities more stringently. Critics in China argue that mining operations consume inordinate energy and jeopardize the country’s climate goals in the process.  To date, Xinjiang, Qinghai, and Sichuan have openly prohibited power supply to mining companies. Not surprisingly, Bitcoin’s hash rate fell sharply in the aftermath of these decisions. The ban in Sichuan, in particular, took a toll on daily hash rates.  Some experts believe that China’s anti-mining climate could provide a breakthrough for the US. For years, crypto miners relied on China’s cheap electric supply to carry out their operations. In fact, in 2018, miners in China accounted for the world’s 74%  production of Bitcoin. Now, these ventures are eyeing Texas, South Dakota, or even Canada, triggering a mass transition. The recent relocation of a mining farm from Guangzhou to Maryland is the most visible instance of this mass transition. According to Eunice Yoon, a CNBC representative, the move will see nearly three tons of mining machinery being transported to the United States. Miami Opens Its Doors to Ousted Crypto Miners Meanwhile, Miami is welcoming ousted miners to establish operations in the city. Its current mayor, Francis Suarez, a vocal advocate for cryptocurrencies, has highlighted his support for digital assets on repeated occasions. Suarez has promised several incentives for miners, which include tax concessions, infrastructure incentives, and limited regulations to galvanize investments in the sector. Furthermore, he has guaranteed lower electricity bills for miners, with more than sufficient supply from Miami’s abundant nuclear power. As far as the BTC hash rate is concerned, the current gap between the US and China is significantly wide. However, this gap is expected to begin closing as more mining companies transition to the US.

The post Bitcoin Mining to Relocate from China to US Amid Crackdown appeared first on Cryptoknowmics-Crypto News and Media Platform.

Republished by Plato

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Following the nationwide crackdown on miners, Bitcoin mining operations in China are gearing up to relocate three tons of crypto mining equipment to the US. The new reports emerged just a few weeks after authorities in several provinces ordered power companies to discontinue supply to mining firms.

Bitcoin Mining Operations Are Transitioning From China to The US

In light of China’s hardening stance on crypto mining, Bitcoin moguls in the country have started to look elsewhere for lucrative opportunities. 

The world’s most populous nation banned crypto-related services in May and decided to monitor mining activities more stringently. Critics in China argue that mining operations consume inordinate energy and jeopardize the country’s climate goals in the process. 

To date, Xinjiang, Qinghai, and Sichuan have openly prohibited power supply to mining companies. Not surprisingly, Bitcoin’s hash rate fell sharply in the aftermath of these decisions. The ban in Sichuan, in particular, took a toll on daily hash rates. 

Some experts believe that China’s anti-mining climate could provide a breakthrough for the US. For years, crypto miners relied on China’s cheap electric supply to carry out their operations. In fact, in 2018, miners in China accounted for the world’s 74%  production of Bitcoin. Now, these ventures are eyeing Texas, South Dakota, or even Canada, triggering a mass transition.

The recent relocation of a mining farm from Guangzhou to Maryland is the most visible instance of this mass transition. According to Eunice Yoon, a CNBC representative, the move will see nearly three tons of mining machinery being transported to the United States.

Miami Opens Its Doors to Ousted Crypto Miners

Meanwhile, Miami is welcoming ousted miners to establish operations in the city. Its current mayor, Francis Suarez, a vocal advocate for cryptocurrencies, has highlighted his support for digital assets on repeated occasions.

Suarez has promised several incentives for miners, which include tax concessions, infrastructure incentives, and limited regulations to galvanize investments in the sector. Furthermore, he has guaranteed lower electricity bills for miners, with more than sufficient supply from Miami’s abundant nuclear power.

As far as the BTC hash rate is concerned, the current gap between the US and China is significantly wide. However, this gap is expected to begin closing as more mining companies transition to the US.

READ  Blockpass Provides KYC Services for Trading Firm Blitz Network

#Bitcoin In China #China Crypto Mining #Francis Suarez #Miami

Source: https://www.cryptoknowmics.com/news/btc-mining-ops-to-relocate-from-guangzhou-to-maryland-amid-chinese-crackdown/

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Blockchain

MicroStrategy Acquires More Bitcoin, Holds More Than 105,000 BTC

MicroStrategy Bitcoin

Rate this post Business analytics firm MicroStrategy has added more Bitcoin to its balance sheet, taking the company’s collective holdings to a whopping 105,085 BTC. According to an announcement from the firm’s CEO Michael J. Saylor, MicroStrategy spent $489 million to add another 13,005 BTC to its treasury. Michael Saylor Announces New Bitcoin Purchase For MicroStrategy Saylor and his company have maintained their belief in Bitcoin’s potential despite the primary crypto’s ongoing price struggles in a volatile market. The company has been pumping the digital asset since last August following the pandemic-induced inflation, which forced investors to seek non-traditional options that safeguard their assets. In its most recent accumulation effort, MicroStrategy snagged 13,005 BTC for an average price of $37, 617 per token. However, the digital asset has declined sharply in the last few days, and one coin is currently trading for $32,500.  As part of its announcement, the firm revealed that its recently formed subsidiary MacroStrategy LLC holds 92,079 BTC of its total balance.  Altogether, the new investment takes MicroStrategy’s combined Bitcoin holdings to a staggering 105,085 coins. At the current spot price, this holding is worth $2.74 billion, with each token amounting to slightly more than $26,000.  MicroStrategy Raised $500M to Procure Its Current BTC Investment Earlier this month it was reported that MicroStrategy was offering senior secured notes due in 2028 to raise half a billion dollars in debt. These notes bore an annual interest rate of 6.125%. The company had originally capped the sale at $400 million, but shortly thereafter it boosted its offer by another $100 million.  Following the sale of its debt offering, the company revealed that it had amassed nearly $489 million, which would be invested in Bitcoin. At the same time, MicroStrategy also announced that it was planning to sell up to $1 billion in stocks and that part of those proceeds would be directed to buying more Bitcoin. Even before its recent purchase, MicroStrategy owned the largest reserve of the flagship crypto among all publicly traded companies. 

The post MicroStrategy Acquires More Bitcoin, Holds More Than 105,000 BTC appeared first on Cryptoknowmics-Crypto News and Media Platform.

Republished by Plato

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Business analytics firm MicroStrategy has added more Bitcoin to its balance sheet, taking the company’s collective holdings to a whopping 105,085 BTC. According to an announcement from the firm’s CEO Michael J. Saylor, MicroStrategy spent $489 million to add another 13,005 BTC to its treasury.

Michael Saylor Announces New Bitcoin Purchase For MicroStrategy

Saylor and his company have maintained their belief in Bitcoin’s potential despite the primary crypto’s ongoing price struggles in a volatile market. The company has been pumping the digital asset since last August following the pandemic-induced inflation, which forced investors to seek non-traditional options that safeguard their assets.

In its most recent accumulation effort, MicroStrategy snagged 13,005 BTC for an average price of $37, 617 per token. However, the digital asset has declined sharply in the last few days, and one coin is currently trading for $32,500. 

As part of its announcement, the firm revealed that its recently formed subsidiary MacroStrategy LLC holds 92,079 BTC of its total balance. 

Altogether, the new investment takes MicroStrategy’s combined Bitcoin holdings to a staggering 105,085 coins. At the current spot price, this holding is worth $2.74 billion, with each token amounting to slightly more than $26,000. 

MicroStrategy Raised $500M to Procure Its Current BTC Investment

Earlier this month it was reported that MicroStrategy was offering senior secured notes due in 2028 to raise half a billion dollars in debt. These notes bore an annual interest rate of 6.125%. The company had originally capped the sale at $400 million, but shortly thereafter it boosted its offer by another $100 million. 

Following the sale of its debt offering, the company revealed that it had amassed nearly $489 million, which would be invested in Bitcoin. At the same time, MicroStrategy also announced that it was planning to sell up to $1 billion in stocks and that part of those proceeds would be directed to buying more Bitcoin.

Even before its recent purchase, MicroStrategy owned the largest reserve of the flagship crypto among all publicly traded companies. 

READ  MicroStrategy’s Bitcoin Stack Up: Brilliant Moves or Risk?

#Bitcoin #CEO Michael Saylor #MicroStrategy #MicroStrategy BTC Investment

Source: https://www.cryptoknowmics.com/news/microstrategy-acquires-more-bitcoin-holds-more-than-105000-btc/

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Thailand SEC Bans Meme Coins, Fan Tokens, NFTs

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Local exchanges in Thailand had been given a deadline until July 11 to submit their new rules for listing tokens that complies with the new guidelines from the Thailand Securities and Exchange Commission (SEC).

“The Securities and Exchange Commission (SEC) Board has approved the new rules that prohibit digital asset exchanges from providing services in relation to utility tokens and certain types of cryptocurrencies. The rules also specify that the exchanges set a requirement to be imposed in the event that digital tokens issued by their own exchange or related persons are listed on the exchange. In this regard, the token issuer who fails to comply with the white paper and relevant rules in substance could risk having such tokens delisted from the exchange. This new regulatory guideline aims to enhance protection of digital asset traders’ interest.”

The Thai SEC also added that listing rules prohibits local exchanges from providing services that have these following characteristics:

(1) Meme Token – having or no clear objective or substance or underlying, and whose price runs on social media trends.

(2) Fan token: tokenized by the fame of influencers.

(3) Non-Fungible Token (NFT): a digital creation to declare ownership or grant of right in an object or specific right. It is unique and not interchangeable with digital tokens of the same category and type at the equal amount.

(4) Digital tokens which are utilized in blockchain transactions and issued by digital asset exchanges or related persons.

Along with this move is their previous announcement of regulating Decentralize Finance (DeFi) projects in the country, including the issuance of digital tokens.

In the previous announcement, liquidity provider tokens, governance tokens, or tokens issued to those transacting in DeFi projects “must be licensed and must abide by the specified rules”.

The new regulation stipulates crypto exchanges, digital-asset brokerages, digital asset-dealers, private fund managers and investment advisors must be licensed by the Ministry of Finance.

Thai SEC states that, “For traders, it is best to study the DeFi project before getting involved in both technical and security aspects.” They also added that traders “should check whether the service provider is a digital-asset business that is licensed and regulated by the SEC or other regulatory agencies under law.”

This article is published on BitPinas: Thailand SEC Bans Meme Coins, Fan Tokens, NFTs

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Source: https://bitpinas.com/regulation/thailand-sec-ban-meme-tokens/

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