Bitcoin miners, who use 77% renewable power, are turning off machines
Bitcoin mining is regularly the target of enviro-skeptics who claim it's wasteful, and who rejoice when the price tanks--as it has again today, forcing more miners into unprofitability. But a new study by Coinshares suggests that most crypto-miners are taking advantage of renewable energy sources, many of them remotely-sourced and otherwise wasted. Instead of sitting idle, these remote generation sites can be used to create real economic value by producing bitcoins, which are free to transport--but this business only works if the market price allows.
Bitcoin difficulty drops 14.75% today. That will bring miners' operational breakevens down from $3700-$4900 to $3170-$4170.— Alex Krüger 🇦🇷 (@Crypto_Macro) December 3, 2018
That's according to my estimates, with electricity in the $0.055-$0.065 range - those with higher costs are toast, though some have cheaper electricity. pic.twitter.com/YSXqDloi1C
Report: At Least 77.6% of Bitcoin Mining Powered by Renewable Energy
"The latest version of Coinshares’s bi-annual bitcoin mining report is now available, and it includes some fascinating conclusions in terms of the types of energy sources involved in the bitcoin mining process. According to the report, at least 77.6% of bitcoin mining is powered by renewable energy, which is in direct contrast to the sorts of over-the-top claims often made in the media in regard to the Bitcoin network’s potentially harmful effect on the environment."
Coinbase Custody Receives Trust Charter From The New York Department of Financial Services
"Coinbase Custody is an institutional-grade service optimized for storing large amounts of cryptocurrency in a highly secure way. For our customers, operating under a New York State Trust Company is more than just a new license — it’s an important piece of regulatory clarity that will allow us to compliantly store more assets and add new features like staking."
🇨🇳 I often get questions around crypto/blockchain related developments in China, so I thought I would start doing periodic summaries of headlines or news that I come across that is not often covered by the media or discussion over here in the U.S.— Katherine Wu (@katherineykwu) November 30, 2018
Here is the first batch :)
according to https://t.co/ZnojCSazrI, yesterday had the highest average $BTC block times since Nov 12th 2017, w/fees increased slightly over the past few days— #BrotoshiMoku [TA Truther] (@CarpeNoctom) November 23, 2018
txns/day only ~30k less than one year ago
fees remain low b/c mempool isn't being spammed w/txns like it was a year ago pic.twitter.com/CPdnQc13Su
Ethereum Whales Accumulate Billions, But Growth Remains Stagnant
"Still, despite holdings across major whales being equal since July 2017, and total holdings plummeting in value from $21Bn at the end of January, now standing at only $2.3Bn, the net balance of additions and withdrawals throughout 2018 to date stands at a positive of $1Bn."
Crypto’s Biggest Legal Problems
"We’re not suggesting that everyone (lawyer & non-lawyer alike) should start developing expertise in CryptoLaw. Specialization has its place. Instead, we merely suggest that every crypto developer and investor who cares about the success of the broader Crypto/Blockchain/DLT enterprise should place legal risk awareness and legal risk mitigation much higher on their respective to-do lists than whatever place 'legal' occupies at present."
Making AI algorithms crazy fast using chips powered by light
"Light offers key advantages for AI, Shen explained. Photons are faster than electrons, and their movement through a chip’s circuitry won’t overheat it. But computing with light is also very challenging. Previous efforts to build optical computer chips have failed because it’s difficult to emulate a transistor optically and because light behaves in a less predictable way."
0/ Thread about The Great Cybercoin Bear Market of 2018: …— zooko (@zooko) December 3, 2018