Category Archives: Bitcoin

DogeMiyagi, Bitcoin and Cardano: The top cryptos exploring the NFT hype – Economic Times

Posted: May 18, 2023 at 12:57 am

The introduction of non-fungible tokens (NFTs) to the crypto world has been one of the most exciting developments for the market. This year, Bitcoin (BTC) came out with its own version of NFTs called Ordinals, while Cardano (ADA) has been making waves in the NFT market. The new meme coin DogeMiyagi (MIYAGI) will include NFTs as part of its plan for growth, and this highly anticipated project is expected to explode when it launches.Bitcoin Ordinals declineAs the original cryptocurrency, Bitcoin is known for innovating the financial market. In January this year, Bitcoin debuted its own version of NFTs known as Ordinals. Due to its reputation in the market, this was highly anticipated, and investors had high expectations. However, they have not performed as well as they were expected to.Bitcoin Ordinals have faced scrutiny from die-hard NFT fans, in particular, those who have criticised its sluggish transaction speeds and high fees. Recent data also shows a decline in its popularity, steadily dripping from a high of $18.13 million in trading volume on May 8. While their fate remains uncertain, loyal Bitcoin supporters are hopeful that major improvements could be on the horizon.Cardano captures the NFT marketCardano has recently been capturing a significant share of the NFT market, holding onto its position as sixth in terms of all-time NFT volume. In the first week of May, it amassed a staggering $8.9 million in NFT volume.

Cardanos users applaud its low transaction costs, sustainability, and speed, which also makes it an ideal match for the NFT market. Although its first project faced hurdles due to a lack of functional smart contracts, the developers found a solution allowing numerous successful projects to launch on the network. Its Vasil upgrade has played a pivotal role in enhancing speed and efficiency and igniting a surge in Unique Active Wallets. Additionally, Cardano's unique feature of creating NFTs without smart contracts minimises errors, making it a safer and more accessible choice compared to other chains.

DogeMiyagi also takes a community approach to crypto and has a fully-fledged DAO to give all users a say in the direction of the project. The platform will also feature daily rewards to keep the community engaged. Investors who refer new users will also receive a 10% reward, which will be added straight to their wallets.

Final thoughts

Disclaimer: The above content is non-editorial, and TIL hereby disclaims any and all warranties, expressed or implied, relating to the same. TIL does not guarantee, vouch for or necessarily endorse any of the above content, nor is it responsible for them in any manner whatsoever. The article does not constitute investment advice. Please take all steps necessary to ascertain that any information and content provided is correct, updated and verified. Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.

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DogeMiyagi, Bitcoin and Cardano: The top cryptos exploring the NFT hype - Economic Times

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Hackers hijack Bloomfield Township man’s SIM card, steal $200K in … – WXYZ 7 Action News Detroit

Posted: at 12:57 am

BLOOMFIELD TOWNSHIP, Mich. (WXYZ) A victim from Bloomfield Township was the target of hackers who stole six figures worth of Bitcoin cryptocurrency.

Police say the victim came forward May 9 and lost $204,000 worth of Bitcoin cryptocurrency. They say his Coinbase account was hacked through a cellphone SIM card swap.

Nowadays, cellphones are everywhere. But if you store a list of passwords on your device, police say you could be at risk of being targeted by hackers.

People got to be a little bit more protective of their things, especially in the world today, Randy Neveu, a cryptocurrency investor, said.

On the streets of Bloomfield Township, people who use the popular avenue for investing say theyre aware of the dangers and are actively taking steps to avoid them.

Password protection. I also use the facial recognition thats on (Apple) products, Neveu said.

The crime has police issuing an urgent warning to look out and not be an easy target for criminals.

The evidence that will come forward in this case is digital evidence, Bloomfield Township police officer Nick Soley said.

Soley says the specific theft known as a SIM card swap happened after an impostor tricked a cellphone retailer into believing he was a victim and was issued a phone. Then, that impostor downloaded passwords saved on the phone.

Soley warns to keep password lists off your phone and use face ID or fingerprint scan as an alternative through official apps.

One of the things were really honing in right now is to not store those passwords on your phone no matter how secure you think they are, he said.

So far, its unknown how the thief managed to obtain enough of the victims personal information to convince a retailer to issue a new phone to them then gain access to Coinbase information.

Police say the case could involve out-of-state or out-of-country accomplices.

Its not like a crime scene where you can go out and start sweeping for fingerprints. It takes time and we have to get cooperation through search warrants, Neveu said.

Police are also investigating another similar theft of more than a million dollars last July. If you have any information, call the Bloomfield Township Police Department at 248-433-7755.

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Hackers hijack Bloomfield Township man's SIM card, steal $200K in ... - WXYZ 7 Action News Detroit

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Bitcoin Holds Steady as EUs MiCA Regulation Gets Another Green Light – ZyCrypto

Posted: at 12:57 am

Bitcoin continued to hold on strong Wednesday, albeit displaying minimal volatility in the past six days.

Earlier this week, the top cryptocurrency by market capitalization attempted to breach the $27,300 resistance only to slide lower amid heightened regulatory scrutiny by US agencies towards the crypto industry. However, prices have been moving lower with difficulty this week; signalling bulls are still fighting for control.

Bitcoins strength comes even as ministers of the European Union (EU) signed off on landmark crypto rules on Tuesday, marking a significant milestone for the cryptocurrency industry.

This significant development establishes the European bloc as the first major jurisdiction in the world to introduce a comprehensive crypto licensing regime. The approval encompasses not only the licensing framework but also incorporates new anti-money laundering measures that specifically target the transfer of crypto funds.

Elisabeth Svantesson, the minister of finance for Sweden, expressed her satisfaction, stating, I am very pleased that today we are delivering on our promise to start regulating the crypto-assets sector.

Recent events have confirmed the urgent need for imposing rules which will better protect Europeans who have invested in these assets, and prevent the misuse of the crypto industry for the purposes of money laundering and financing of terrorism, she added.

As ZyCrypto has previously reported, one of the primary objectives of MiCA has been to establish clear rules and requirements for cryptocurrency service providers, including exchanges, wallet providers, and custodian wallet providers. These entities will be subject to stringent regulations to ensure consumer protection, market stability, and financial transparency. The regulation also aims to implement anti-money laundering measures on crypto funds transfers in a bid to strengthen the blocs fight against financial crimes.

The latest step by the EU Council comes even as pressure mounts on the Biden Administration to publish a crypto regulatory framework. Despite the US president issuing an executive order in March 2022 aimed at kickstarting the process of drafting regulations for the crypto sector, the process has taken overly long, eroding investor confidence in the US crypto space.

Notably, the absence of a unified regulatory framework for crypto-assets markets hinders user confidence, innovation, and competition. It also poses potential challenges to financial stability and payment systems. EUs approval of the MiCA regulation thus marks a significant milestone in the global crypto-assets sector and sets an example for other regions.

That said, with Hester Pierce, a commissioner of the US Securities Exchange Commission (SEC), recently expressing confidence in MiCA being a model for crypto regulations in the US, it remains to be seen if it could influence the future of cryptocurrency regulation in the worlds largest economy.

At press time, the BTC price was trading at $26,684, down 1.20% in the past 24 hours, per CoinMarketCap data.

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Tech enthusiast converts Bitcoin miner into heater to grow cannabis – Finbold – Finance in Bold

Posted: at 12:57 am

With the rapid expansion of the cryptocurrency industry, many people see mining Bitcoin (BTC) as a great way to increase their income, but some of them use mining devices for less conventional ways including growing cannabis and vegetables.

One of these people is Twitter user Rev.Hodl, who said he had deployed a Bitcoin miner to support the growth of his cannabis and vegetable seedlings during cold months, and he seemed to be very happy with the results, as he shared in a tweet on May 17.

Interestingly, answering commenters questions, Rev.Hodl said he used a Bitcoin miner for other purposes, including warming his house, as a dehydrator, using the surplus solar power at his office grid yurt, and more:

Its better than any plain old electric heater. Since Ive got it, any reason could use electric heat, Im using a Bitcoin miner. Made a dehydrator, heated my house in the winter, use the extra solar power at my office grid yurt, etc. Since I have it, I need to find good reasons.

Furthermore, he explained that he had set the miner between 500-700w to keep temps in 70s while outdoor temps got as low as 20s, stating that it was amazing what the little asic computer is capable of.

Earlier in January, crypto YouTuber Drew Vosk examined the various existing methods to mine cryptocurrencies, including hard drive mining, 5G mining, ASIC mining, and Equihash mining, as alternatives to graphics processing units (GPUs), which he considers no longer viable, as there are only four graphics cards today that he believes earn more money than they burn electricity.

At the same time, people have also turned to other, more ecologically acceptable ways to mine digital assets, such as using solar panels and hydro-electricity, the latter of which was witnessed in the example of Virunga National Park in eastern Congo that has used hydroelectric power to mine Bitcoin in a bid to secure funding for the protection of its forests and wildlife.

On top of that, a study has shown that incorporating Bitcoin mining into solar energy systems could improve the grids stability and scalability, while simultaneously keeping them cost-effective, thus helping them meet 99% of the end-user demand, as Finbold reported in February.

Featured image via Rev.Hodl Twitter

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Tech enthusiast converts Bitcoin miner into heater to grow cannabis - Finbold - Finance in Bold

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If You Bought Your Mom $100 In Bitcoin, Dogecoin And Ethereum … – Benzinga

Posted: at 12:57 am

Roses are red, violets are blue, flowers are overrated, does Mom want crypto from you?

If youre struggling with what to get your mom for Mothers Day, a gift of cryptocurrency is anoption. Heres a look at whether a gift of crypto on Mothers Day last year would have beena good investment.

What Happened: Mothers Dayis being celebrated today. While many will get their moms flowers and a card, another optionis buying shares of some of the most valuable and most well-known public companies.Others might consider gifting their momscryptocurrency as a long-term bet on a rebound over the coming years.

Mothers Day was designated an official holiday by then President Woodrow Wilson in 1914 and is celebrated on the second Sunday of May. Last year, Mothers Day was celebrated on May 8, 2022. Heres a look at how an investment and gift in three leading cryptocurrencies at thattime would be worth now.

Related Link: Here's How Much $100 In Dogecoin Today Could Be Worth If DOGE Returns To All-Time Highs

Investing $100 in Bitcoin, Dogecoin, Ethereum:Heres how muchBitcoin, Dogecoin and Ethereum a $100 investment in each couldhave boughton May 8, 2022.

Bitcoin: .0028 BTC

Dogecoin: 781.25 DOGE

Ethereum: .0379 ETH

Investing $100 in each cryptocurrency last Mothers Day would be worth the following based on prices at the time of writing:

Bitcoin: $75.15

Dogecoin: $56.25

Ethereum: $68.39

A $300 gift consistingof thethree top cryptocurrencies would be worth $199.79 today, a decline of 33.4%.

While the decline is steep, it is actually an improvement over the 51% decline seen in the same three cryptocurrencies between Mothers Day 2020 andMothers Day 2021.

Those who bought their moms cryptocurrency for Mothers Day in 2020 would have a different story to tell.

A $100 investment each in Bitcoin, Dogecoin and Ethereum on Mothers Day 2020 would have been able to buy the following amounts and now be worth the following:

Bitcoin: 0.0104 BTC, $279.14

Dogecoin: 38,270.19 DOGE, $2,755.45

Ethereum: 0.4727 ETH, $852.99

Read Next: 2021 Was The Year Of Dogecoin, A Month By Month Retrospective With Top Stories

Photo: Shutterstock

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