Skip to main content

Jack Dorsey Muses on Social Media ‘Takeover,’ Ethereum Weaknesses; Plus the Latest in Crypto Mining — Bitcoin.com News Week in Review

Former Twitter CEO Jack Dorsey ponders Ethereum’s “single points of failure” and whether one man should be able to control an entire social media network, while Bitcoin.com News gives you the latest scoop in the world of ETH and BTC mining rigs. To top it all off, one economist predicts that the U.S. central bank’s response to the nasty inflation being seen could actually be good for crypto prices. Here’s your bite-sized digest of this week’s hottest crypto news: The Bitcoin.com News Week in Review.

Jack Dorsey Claims if 'You’re Building on Ethereum You Have at Least One, if Not Many, Single Points of Failure'

Jack Dorsey on Ethereum’s ‘Single Points of Failure’

The internet entrepreneur and former CEO of Twitter, Jack Dorsey, claims if developers are building on Ethereum they have “at least one, if not many, single points of failure.”

The statement was in response to Vitalik Buterin’s commentary concerning Elon Musk running Twitter.

Read More

Today's Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits

Today’s Top ETH and BTC Mining Devices Continue to Rake in Profits

As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits.

While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per day in profits.

Read More

Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/S With Custom 5nm Chip Design

Microbt Reveals Latest Bitcoin Mining Rigs

Following Bitmain’s product introduction of two new application-specific integrated circuit (ASIC) bitcoin mining rigs, the mining devices manufacturer Microbt has announced the launch of two new miners as well.

Revealed during the Bitcoin 22 conference in Miami, Microbt showcased the company’s new Whatsminer M50 series, which offers hashrate speeds of up to 126 terahash per second (TH/s).

Read More

Economist Predicts the Fed's Response to Inflation Will Push Crypto Higher

Economist: Fed’s Response to Inflation Will Push Crypto Higher

Allianz Chief Economic Advisor Mohamed El-Erian says that the Federal Reserve’s response to inflation will cause the prices of cryptocurrencies, like bitcoin, to “go higher.”

He noted: “That’s what you get when you’ve waited too long to recognize what inflation is and to take action.”

Read More

What do you think about this week’s hottest stories from Bitcoin.com News? Be sure to let us know your thoughts in the comments section below.



from Bitcoin News https://ift.tt/LJyk1qc
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more