NFT marketplace

Bitcoin's Hash Rate Nears All-Time High

By Allen Taylor | Cryptocracy | 11 Dec 2021


The Bitcoin hash rate is nearing an all-time high of 172 million terahashes. That’s good considering that bitcoin fell below $50,000 this week. The biggest fool in finance wants to tell you why. Despite the fall, Bloomberg Intelligence is calling for bitcoin to hit $100,000. One analyst, however, says bitcoin could fall another 20 percent in the next few weeks. Billy Bambrough is optimistic. He says the U.S could adopt bitcoin in 2022. What’s he know that I don’t?

Despite such bullish sentiments on the granddaddy of crypto, professional traders are more favorable toward Ethereum. Yet, Ethereum gas fees are through the roof, which benefits smaller blockchains like Solana and Avalanche. Also, one Ethereum transaction produces enough energy to power a house all day. Still, one prominent Ethereum developer would rather talk about NFTs and the metaverse. See Dick jump through hoops?

Binance is in talks with Indonesia’s wealthiest family regarding a new crypto trading exchange. In Australia, Binance is the first crypto exchange to begin ESG reporting.

Meta’s new wallet Novi has launched allowing users to send crypto through WhatsApp.

BitMart was hacked and the ne’er-do-wells behind it got away with $200 million worth of Shiba Inu (and other tokens). There’s no use crying over spilled SHIB. Meanwhile, Google search data reveals that searches for “delete BitMart” rose 317 percent in one day. Data reported by Case Monkey.

Polygon is investing up to 250 MATIC into zero-knowledge technology. On another front, the rising blockchain star is buying Mir, an Ethereum scaling startup, for $400 million.

Budweiser launched almost 2,000 NFT beer cans, but the marketplace got bogged down by traffic. I guess it was suds hour in St. Louis, Missouri. Of course, when it comes to NFTs, it matters how you invest. Want to know how to be a successful NFT traderRead the full report here.

In India, a new bill could ban crypto as a form of payment. The bill stipulates that those who run afoul of the law would give authorities the power to arrest them without a warrant and hold them without bail.

Reserve Bank of Australia governor says support for central bank digital currencies and smartphone tokens could be on the way for retailers. BUT, he predicts they’ll be centralized.

UK politicians do not consider cryptocurrency an investment.

Did cryptocurrency fuel a revolution for white supremacists?

Self-proclaimed bitcoin inventor Craig Wright ordered to pay $100 million to W&K Info Defense Research as court clears him of fraud charges.

The CIA is getting in on the crypto game.

Tron has built the first ever ecological complex in Cryptovoxels. Now, I have a metaverse complex.

Hong Kong real estate tycoon builds a virtual land empire in The Sandbox’s metaverse.

Speaking of metaverses, Uphold is hosting a live webinar about the metaverse. And here’s a list of metaverse tokens to keep an eye on.

Kickstarter is trying to stay relevant by migrating toward blockchain technology and users are kicking bald tires mad over it.

Congress’s Financial Service Committee held a hearing on stablecoins and left Tether out. And Foreign Policy says the legislative body should regulate cryptocurrencies now.

CNBC says investors of all ages should have crypto in their portfolios. I couldn’t agree more. The latest report says one-third of professional investors have recently invested in crypto. Looks like we’re a ways off.

For informational and educational purposes only. Not financial advice. First published in Cryptocracy.

Image credit: Chainalysis

Resources

  1. https://beincrypto.com/bitcoin-hash-rate-nears-all-time-high-as-mining-resettles/
  2. https://www.coindesk.com/markets/2021/12/09/bitcoin-drops-below-50k-support-between-43k-45k/
  3. https://www.fool.com/investing/2021/12/09/cathie-wood-bitcoin-price-target-updated-to-550000/
  4. https://cointelegraph.com/news/bitcoin-could-hit-100k-gold-2k-in-2022-thanks-to-deflationary-forces-bloomberg-analyst
  5. https://www.marketwatch.com/story/why-bitcoin-may-face-another-20-plunge-in-coming-weeks-as-risk-is-heightened-says-prominent-technical-analyst-were-watching-37-000-11639081370
  6. https://www.forbes.com/sites/billybambrough/2021/12/09/us-could-embrace-crypto-in-2022-huge-bitcoin-and-ethereum-price-prediction-revealed/
  7. https://cointelegraph.com/news/data-shows-pro-traders-are-currently-more-bullish-on-ethereum-than-bitcoin
  8. https://markets.businessinsider.com/news/currencies/ethereum-transaction-gas-fees-high-solana-avalanche-cardano-crypto-blockchain-2021-12
  9. https://cointelegraph.com/news/ethereum-transaction-energy-use-equals-to-2-5-miles-in-a-tesla-model-3-report
  10. https://news.yahoo.com/ethereum-developer-sounds-off-on-nf-ts-metaverse-and-dystopian-facebook-153021379.html
  11. https://www.bloomberg.com/news/articles/2021-12-10/binance-weighs-crypto-venture-with-indonesia-s-richest-family
  12. https://coingape.com/breaking-binance-australia-becomes-first-ever-crypto-exchange-to-start-esg-reportage/
  13. https://markets.businessinsider.com/news/currencies/meta-novi-crypto-wallet-pilot-program-whatsapp-facebook-cryptocurrency-2021-12
  14. https://u.today/200-million-worth-shiba-inu-and-other-tokens-stolen-from-bitmart-exchange
  15. https://cointelegraph.com/news/polygon-to-invest-up-to-250m-matic-into-zero-knowledge-tech
  16. https://www.coindesk.com/business/2021/12/09/polygon-acquires-ethereum-scaling-startup-mir-for-400m-in-matic/
  17. https://ambcrypto.com/here-are-the-traits-of-a-successful-nft-trader/
  18. https://go.chainalysis.com/rs/503-FAP-074/images/Chainalysis%20NFT%20Market%20Report.pdf
  19. https://www.digit.in/news/crypto/crypto-bill-could-propose-arrest-without-warrant-for-violation-of-new-laws-report-62167.html
  20. https://www.channelnews.com.au/rba-supports-central-bank-digital-currency/
  21. https://cointelegraph.com/news/uk-politicians-say-cryptocurrency-is-not-an-investment
  22. https://www.splcenter.org/hatewatch/2021/12/09/how-cryptocurrency-revolutionized-white-supremacist-movement
  23. https://blockchain.news/news/self-acclaimed-bitcoin-inventor-craig-wright-vindicated-in-kleiman-lawsuit
  24. https://markets.businessinsider.com/news/currencies/cia-cryptocurrency-projects-in-works-confirming-rumors-director-says-2021-12
  25. https://www.forbes.com/sites/zinnialee/2021/12/08/hong-kong-property-tycoon-adrian-cheng-builds-virtual-land-in-the-sandboxs-metaverse/
  26. https://event.webinarjam.com/register/112/n6879h8o
  27. https://markets.businessinsider.com/news/currencies/best-performing-cryptocurrencies-metaverse-tokens-of-the-year-2021-12
  28. https://futurism.com/kickstarter-creators-furious-blockchain
  29. https://tokenist.com/tether-didnt-even-show-up-to-cryptos-biggest-regulatory-hearing-yet/
  30. https://foreignpolicy.com/2021/12/07/cryptocurrency-regulation-congress-hearing-stablecoin-digital-currency/
  31. https://www.cnbc.com/2021/12/09/you-should-have-crypto-in-your-portfolio-no-matter-your-age.html
  32. https://www.p2pfinancenews.co.uk/2021/12/09/third-of-professional-investors-have-recently-invested-in-crypto/

How do you rate this article?


134

0

Allen Taylor
Allen Taylor

Writer, editor, publisher. Content strategist for fintech, blockchain, and crypto firms.


Cryptocracy
Cryptocracy

Hot news and analysis from the world of cryptocurrencies. No hype, just the facts plus a little snark. Delivered from an award-winning journalist, former newspaper editor, and world-class content strategist.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.