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The Turkish Central Bank Is Concerned Over BTC Energy Consumption

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The Turkish central bank is concerned over the Bitcoin energy consumption according to a report submitted by the Turkish parliament by the bank as we read more in our latest bitcoin news today.

Turkey awaits new regulations on BTC and other cryptocurrencies from its policymakers and the reports by the bank outlined concerns that the regulations are considering. The bank outlined the environmental impact of BTC for the first time as the Turkish Central Bank is working with the other government agencies on the upcomign crypto regulations submitted a report to the parliament detailing the views on crypto. In a first for the Turkish government agency, the central bank is sounding the alarm regarding the impact of BTC echoing most of the same concerns expressed by the government of China.

some miners, defi, eth, ethereum

The report titled “May 2021” is not publicly available but was obtained by the local media Bloomberg HT and was addressed to the Parliamentary Commission on Online Environments as a body that is tasked with legislation around anything that has to do with the Internet including crypto. Turkey is now in the process of establishing regulations on crypto assets and crypto as a medium of payment is banned so the government ruled out banning assets entirely. The bank’s report offers a dive into the history and nature of crypto and lists a few risks associated with BTC and other cryptocurrencies. Notably, the report outlined the environmental concerns about crypto:

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“Crypto mining leads to high energy consumption, contributing to global warming.”

Mining is how the most actively traded crypto assets like BTC and ETH are created as it involves the use of a high-powered computer that solves complex mathematical problems via a process known as Proof of work and it underpins blockchain networks like BTC. Turkey isn’t known to have a lot of miners, unlike Iran which has banned mining a week ago. China as one of the hotbeds for mining is in the process of rolling out the restrictions on mining throughout the entire country.

Chinese BTC Miners Turn, huobi, exchange

The environmental concerns are a major driving force behind the market crash which started two weeks ago. Tesla’s CEO Elon Musk announced that his company purchased $1.5 billion in BTC and said that Tesla will not accept BTC as a form of payment anymore due to environmental concerns, three months after it announced that it will. This prompted the formation of the BTC mining council via the intervention of Microstrategy CEO and BTC evangelist Michael Saylor who aims to organize mining companies to promote green energy and sustainability.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Source: https://www.dcforecasts.com/bitcoin-news/the-turkish-central-bank-is-concerned-over-btc-energy-consumption/

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TFT Set 5 Nightbringer Cup: Standings, scores, and schedule

Sweating for that top four.

The post TFT Set 5 Nightbringer Cup: Standings, scores, and schedule appeared first on Dot Esports.

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A healthy mix of veteran and upcoming Teamfight Tactics stars are competing in the North American qualifier Nightbringer Cup with a goal of advancing to the Reckoning Midset Finale. 

A total of 128 players were invited to compete at the Set Five Nightbringer Cup from June 18 to 20. An official broadcast was scheduled for the day three finals, with players streaming days one and two. North American tacticians seeking to compete in the Midset Finale for a chance to play at Reckoning Worlds needed to qualify via the Challenger Series, Dawnbringer Cup, or Nightbringer Cup. 

Related: TFT Set 5 and 5.5 NA competitive roadmap: Full schedule and standings

Tacticians split into 16 lobbies during the first day of the competition at the Nightbringer Cup, with the top four in each lobby advancing to day two. Dividing up into eight lobbies on the second day, the top four in each lobby advanced to the Nightbringer Cup finals to compete for 16 seats at the Reckoning Midset Finale on July 15 to 18.

June 18 Nightbringer Cup standings

Day one of the TFT Nightbringer Cup was intense, with a number of veterans not making the cut for day two. From Team Liquid’s and North America’s Set Four champion Kurumx to Peeba and Souless, a number of well-known tacticians did not advance. 

Here were the top 64 TFT players advancing to the second day of competition at the Reckoning Nightbringer Cup:

Player NA Ladder rank Lobby Total score
Devlus 97 A 32
Shabriel 96 A 31
Buzzyboo 1 A 28
Xthefarmerx 32 A 27
Jirachy 2 B 36
mOOjo 95 B 28
Stategies 63 B 28
Simony 98 B 27
SimonMoon 99 C 37
Kings 35 C 34
Volc4884 3 C 32
e9ns 30 C 31
FECross 61 D 32
Nexthy 4 D 30
iiLucky 29 D 29
invecTiv 93 D 25
JiveNThrive 37 E 38
Robinsongz 5 E 34
RamKev 28 E 32
Kranos 60 E 30
Benva 59 F 36
Rokuyo 70 F 32
kci 27 F 29
Nitsuaa 38 F 29
Saibur 90 G 33
Auqaa 71 G 31
Soobydooo 58 G 31
Peeled Papaya 122 G 27
Gyalubaby 57 H 39
Noobowl 8 H 32
Azarin 40 H 30
Horsa 104 H 25
Ramblinnn 9 I 41
ChungMoney12 41 I 34
Jonich 73 I 27
PPHURA 88 I 25
Alex Guo 247 42 J 40
Cradin 87 J 29
Level1Raft 119 J 29
Sphinx 10 J 28
Casparwu 86 K 39
Live for the Day 22 K 36
ThisJX 118 K 28
Darth Nub 43 K 27
Kevyzhou 117 L 41
Chickenburrito1 44 L 28
aerOstOrm 108 L 28
Prine 21 L 27
Velayy 20 M 33
Father of Shalom 45 M 31
Takengirlsonly 116 M 31
Zugrug 84 M 30
Kyivix 19 N 40
Trll 83 N 30
IMissVoidSins 14 N 28
Dowsie Protector 46 N 28
Justnice 18 O 35
dohmoh 47 O 30
intc 82 O 30
Nixxy Kong 79 O 25
Staxl 81 P 37
Prose 113 P 33
TFT Ren 80 P 29
LuckyMan 49 P 27

This article will be updated following each day of TFT competition at the Nightbringer Cup.

Source: https://dotesports.com/tft/news/tft-set-5-nightbringer-cup-standings-scores-and-schedule

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Saylor Compares BTC to Early Apple: ‘No One Can Stop, and Few Understand’

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MicroStrategy CEO Michael Saylor has compared his early backing of Apple to that of bitcoin, calling the crypto “a dominant monetary network that everyone needs.”

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The bitcoin maximalist recently tweeted about an old video that surfaced. The video features Saylor talking about Apple and how bullish he was on the company back during the iPhone 5. Saylor commented in the video, saying “I would be very long on that company, whoever is selling that stock must be a moron.”

Saylor commented on the old video, this time relating his opinion to BTC. The founder of MicroStrategy, a company that provides business intelligence, mobile software, and cloud-based services, made references to early Apple growth and bitcoin. 

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In a tweet, he said “Apple was a dominant mobile network that everyone needed, no one could stop, and few understood. Bitcoin is a dominant monetary network that everyone needs, no one can stop, and few understand.”

MicroStrategy bullish on BTC 

Saylor and his company have been extremely bullish on BTC in recent months. Earlier this week, MicroStrategy announced that it would be selling $1 billion in stock to purchase more bitcoin. Saylor also joined the newly launched Bitcoin Mining Council which will look at how to make bitcoin mining more energy efficient in the future. 

The company has also recently sold $500 million in secured notes to raise funds to purchase more bitcoin. The company currently holds well over 90,000 BTC in its reserves, totaling more than $3 billion with no plans on slowing down anytime soon. However Saylor has previously stated that the entities he controls hold 111,000 bitcoin. 

The bitcoin maximalist has no plans on selling any bitcoin anytime soon. 

Speaking at the Parallel Summit 2021 earlier this week, Saylor also commented further on bitcoin, saying “I don’t think there’s any other asset where every intelligent person who understands it, decides to do everything they can to make it more valuable.” 

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All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Ryan is a Fintech specialist with a passion for cryptocurrencies and blockchain adoption. A keen trader and investor in the market since 2016, he enjoys keeping up to date with the latest developments within the industry while finding the next 100x altcoin.

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Source: https://beincrypto.com/saylor-compares-btc-to-early-apple-no-one-can-stop-and-few-understand/

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Bitcoin Price Showing Bearish Downtrend Despite On-chain Metrics Indicating Favorable Network Conditions

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The price of Bitcoin (BTC) has continued to drop as the premier cryptocurrency stays afloat a price well below its 7-day high of $41,295.27. At present, BTC is down 5.21% to $35,952.61 according to CoinMarketCap, a bearish positioning that negates the current favorable conditions of the Bitcoin blockchain. Since the price of Bitcoin began retracing from its All-Time High price above $64,000, the market trend has witnessed a more passive engagement from retail investors across the board.

This low activity rate is made more evident as Glassnode data showed that the cumulative or total fees paid on transactions in the network have attained their lowest level of 1.390 BTC in the past one year per a 7-Day Moving Average estimate. Based on a similar trend, the lower fees indicate a lack of congestion by users in the blockchain. 

This trend has its inherent impacts which are both negative and positive. On the negative end, the overall price of Bitcoin is kept low as inconsistent transactions and lack of buy-ups that stir a bullish run is absent. The positivity is best targeted at users as sending funds is now relatively cheaper, and more attractive.

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Investors Back US Traditional Markets: Impact on Bitcoin

Traditional market investors have pumped more than $756 billion in the daily reverse repurchase operation, a move that came after the Federal Reserve boosted interest rates for the traditional market offering. 

Following the meeting of the Financial Open Market Committee (FOMC) held last Wednesday, the interest rate for overnight repurchase agreement was adjusted to 0.05%, better than the 0% it has been, and the interest rate it pays banks on reserves held at the U.S. central bank was also boosted to 0.15%. These increments influenced the recorded inflows.

In tandem, the United States Dollar appreciated against other currencies on Friday, rising 92.70 against top fiat currencies. This may also account for the unrelenting sell-offs in the Bitcoin markets, as an appreciated Dollar is a cogent advantage for the market bears.

Economic policies from market watchdogs have an overbearing impact on Bitcoin and the cryptocurrency ecosystem as a whole. While many market proponents and bulls anticipate a resurgence in price amidst growing fundamentals, the current performance of Bitcoin does not discount the favorable nature of the network at present.

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

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