The Crypto Energy Conundrum
Archives of “BITCOIN” category
rssThursday US news – Cryptocurrency exchange Binance is under investigation
At this stage its an investigation only, the exchange has not been accused of wrongdoing:
- money laundering
- tax offences
An Achilles heel for the acceptance of crypto generally is its role in facilitating criminal activity payments. Indeed, it appears Colonial Pipeline paid hackers circa $5m in crypto re the network failure this week. Crypto defenders point out that plenty of fiat currency is used in criminal activities also. Which is true.
BTC update:
Here’s the full statement from Musk on Tesla and Bitcoin
Elon Musk kicked of the rout in the price of BTC and other cryptos earlier in the session:
- Musk says Tesla has suspended taking Bitcoin for vehicle purchases
If you hadn’t seen the full tweet 9there is not much more) posting it here now:
The recent #Bitcoin hash rate drop already looks like only a small variance, or blip, on the chart.
That’s awkward.
The capitalization of cryptocurrencies exceeds the amount of US dollars in circulation.
ICYMI – Goldman Sachs offers bitcoin derivatives to investors
Bitcoin price dependent derivatives according to Reuters with the news (citing Bloomberg)
- A bitcoin price-linked non-deliverable forward (ie. cash settled)
GS to hedge/trade the exposures it has with its customers for the product with Bitcoin futures in block trades. BTC futures trading on the CME.
BTC update:
How it started: How it’s going:
The first house in the Netherlands 🇳🇱 to be bought entirely with #bitcoin was just sold for 21₿.
Miners are accumulating more #bitcoin during this dip in price, likely expecting higher returns from HODLING.
