London-based Bitcoin Miner Argo Blockchain Announces 1,000 ...

Round up of Cryptocurrency News #3 Week 20/07 - 26/07

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Speculation:
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First up, SORRY! This has been a late post, I have my reasons don't question them (if you must know I'll be posting in the discord - one time only haha). Secondly, I am sure you can agree with me when I say "Wow!" What an incredible week it has been. Last week I thought it was going to take a couple more weeks for more moving price action when it had only taken a few days which has seen Bitcoin reach and pass the $10,000 region. We have also seen the total Market cap for cryptocurrencies increase from about 280B to over 300B (308B at time of writing) within just a few days. A huge injection of liquidity, about 40B, into the market and just to name a few of the best rises in the top 20 (on Coinmarketcap.com), the price of ETH BTC ADA have given good performances/positive responses (With this I will start adding screenshots at the end of each week for timestamp purposes).
This may be a combination from Binance, Mastercard, Paypal, Grayscale investments, VISA AND the DEFI sector. Let me explain... Last week we read about Binance integrating with the company Swipe (SXP) to issue there own debit card expanding the use and reach of cryptocurrency to 31 countries within Europe. Binance's Q2 scheduled token burn of $60.5 Million, this figure correlates with its exchange, margin and futures trading platforms where approximately 20% of profits get burned to increase the price of BNB token (careful as the price has been steady after the burn).
This week we find out Mastercard's expansion into the Cryptosphere as they expand and integrate with the Wirex team to issue a Mastercard-backed Bitcoin debit card, thus further extending the reach of cryptocurrency availability internationally.
"The cryptocurrency market continues to mature and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today’s digital economy " "...Our work with Wirex and the wider crypto ecosystem is accelerating innovation and empowering consumers with more choice in the way they pay"
Mastercard is also reaching out to other emerging cryptocurrency firms to apply to become principal members [Partners] with Mastercard as they have relaxed their digital assets program and look to expand into the Digital Assets and Blockchain environment.
Paypals expression of interest in cryptocurrency facilitiation may bear fruits as it is said Paypal has partnered up with stablecoin operator Paxos (who is already in partnership with Revolut in the US) to facilitate trading through a cryptocurrency brokerage which will enable other firms to integrate cryptocurrency trading functionalities with them. In my opinion this looks much more promising than the Libra association they pulled out from last October as regulations.
Grayscale Investments clears regulatory hurdle as they have been given the green light for its Bitcoin Cash Trust (BCHG) and Litecoin Trust (LTCN) to be quoted in over-the-counter (OTC) markets by US Financial Industry Regulatory Authority (FINRA).
“The Trusts are open-ended trusts sponsored by Grayscale and are intended to enable exposure to the price movement of the Trusts’ underlying assets through a traditional investment vehicle, avoiding the challenges of buying, storing, and safekeeping digital Bitcoin Cash or Litecoin directly.”
More green lights for Cryptocurrency in the US as regulators allow banks to provide cryptocurrency custody services (which may go further than just custody services). A little bit strange as it seems unnecessary and undermines one of the key factors and uses of cryptocurrency which is to be in complete control of your own finances... On another outlook this may be bullish as it allows US banks to provide banking services directly to lawful cryptocurrency businesses and show support for Bitcoin.
Visa shows support stating they have a roadmap for their further expansion into the Crypto sphere. Already working with Crypto platform Coinbase and Fold they have stated they recognise the role of digital assets in the future of money. To be frank, it appears to be focused on stable coins, cost effectiveness and transaction speeds. However they are expanding their support for crypto assets.
AND MOST IMPORTANTLY, DeFI! Our very own growing section in crypto. Just like the 2017 ICO boom we are seeing exorbitant growth and FOMO into the Decentralised Finance sector (WBTC, Stablecoins, Yield farming, DEXs etc). The amount of active addresses on Ethereum has doubled but with the FOMO on their network have sky rocketed their fees! Large use-cases of stable coins such as USDT ($6B in circulation using ERC-20 standard), DAI, TUSD, and PAX. $114M Wrapped Bitcoin (WBTC) on their network acts as a fluid side chain for Bitcoin and DEX trade volume has touched $1.6B this month. With all this action happening on Ethereum I saw the 24HR volume surpass BTC briefly on Worldcoinindex.com
In other news, Bitcoin has been set as a new precedent in a US federal court in a case against Larry Dean Harmon, the operator of an underground trading platform Helix. Bitcoin has now legally been ruled as a form of money.
“After examination of the relevant statutes, case law, and other sources, the Court concludes that bitcoin is money under the MTA and that Helix, as described in the indictment, was an `unlicensed money transmitting business´ under applicable federal law.”
Quick news in China/Asia as floods threaten miners and the most dominant ASIC Bitcoin mining rig manufacturer Bitmain loses 10,000 Antminers worth millions alledgedly goes missing or "illegally transfered" with ongoing leadership dispute between cofounders.
Last but not least, Cardano (ADA) upgrade Shelley is ready to launch! Hardfork is initiated as final countdown clock is switched on. At time of writing the point of no return has been reached, stress tests done and confirmation Hardfork is coming 29/07 The Shelley Mainnet upgrade is a step toward fast, capable and decentralised crypto that can serve billions of people. With the Shelley Mainnet is ADA staking rewards and pools! Here is a chance for us Gravychainers to set up a small pool of our own. Small percentage of profits going into the development of the community, and you keep the rest!
If you read all of my ramblings thanks heaps! I appreciate it! I have added an extra piece of reading called speculation. Most you can speculate on by just reading the headline some others have more depth to them.
Another post next week for a weekly round up! Where do you think the market is going? What is in your portfolio? Let us know in the Gravychain Discord Channel
See you soon!
🍕 Bring some virtual pizza to share 🍕
Come have a chat, stimulate a discussion, ask a question or share some knowledge. We are all friendly crypto enthusiasts up for a chat, supportive and want to help each other with knowledge and investments!
Big thanks to our Telegram and My Crypto HQ for the constant news updates!
P.S.
Dr Seuss collectables on the blockchain HECK YEAH! and Bitcoin enters NASCAR, remember when Doge did this? it was like when Doge was trending on TikTok.
... Oh yeah did I also mention Steve Wozniak is suing Youtube, Google over rampant Bitcoin scams. Wait, what? Sydney based law firm JPB Liberty is suing Google, Facebook and Twitter for up to $300B. Just another day in the Cryptosphere.
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London-based bitcoin mining company Argo Blockchain announced a 1,000% revenue increase in 2019 to $10.7 million. According to a report by BDaily, the London Stock Exchange-listed bitcoin miner reported on Wednesday its full-year 2019 revenue, which rose from $948,000 to $10.7 million. Argo’s total earnings for the year came out to $1.74 million in 2019, compared to $4.56 million in losses ... Binance’s technology is used by more than 30 exchanges around the world today, including Binance Uganda. Binance Jersey brings a world-class trading experience. Binance – Exchange And Login For Trade. Here are a few reasons why Binance is the best place to start. Secure and Reliable State-of-the-art safe storage technology for maximum ... Welcome to SiaMining! We're the first public mining pool for Sia.. Pure Pay-Per-Share – Least possible variance and no penalty for orphaned blocks. 3% PPS fee.; Native Stratum Support – We designed the Stratum protocol that is now used by all Sia miners.; Variable Difficulty – Improves network efficiency and provides more accurate miner statistics. ... Binance Officially Launches Bitcoin Mining Pool. This post was originally shared on this site. Shared by CryptocoinStart The mining pool will support both PoW and PoS consensus mechanisms for mining. Facebook; Twitter; Google+; Pinterest; LinkedIn; Share this: Click to share on Twitter (Opens in new window) Click to share on Facebook (Opens in new window) Related. Tweet; What you can read next ... ZEUS MINING CRYPTO MINING PRO. Used Asic Miner Antminer Z9 Inquiry Now. Antminer Z9mini Inquiry Now ... the electricity price and the hash rate of the bitcoin miner machine. These three issues directly lead to whether we can get a profit in a short time. For example, we have a cryptocurrency mining farm the electricity price is $0.025. we prepare to purchase used Antminer s9 price is $75 or ... Binance. Binance’s New Platform Will Connect CeFi and DeFi With $100M Fund . Muyao Shen Sep 10 ... Bitcoin Miner ZeusHash Faces Cloud Service Shutdown. Jan 16, 2015 at 19:10 UTC Updated Jan 19 ... Team Red Miner 0.7.4 Addressing 4GB VRAM GPUs Support for Ethash; New XMRig 6.0.0-Beta Miner With KAWPOW Support for AMD and Nvidia GPUs; New SRBMiner-MULTI Miner 0.4.5 With Support for Epic Cash (EPIC) Bitmain Antminer T19 Bitcoin ASIC Now Up for Pre-Order; PhoenixMiner 5.0b Update Addressing Support for AMD Cards With 4GB VRAM To use ASIC miner for bitcoin mining, the first thing we need to consider is the price of electricity, because ASIC miners consume a lot of electricity. If mining is performed in an environment where electricity prices are expensive, there may be risks and losses. However, if we mining with cheap electricity we will get considerable profit. Many places can be mining with cheap electricity in ... BITCOIN MINER SOFTWARE Free Activation + Cracked 2020! Bitcoin Money Adder. Unknown This unknown component will guarantee that clients are secured so there is no danger of being followed by the security bitcoin adder 2020 free activation. The best thing about this Paypal Money Adder Online is, obviously, the way that it truly works with genuine outcomes. Notify me of follow-up comments by ... Binance’s Mining Pool Could Disrupt the Entire Mining Industry. Binance has launched its own mining pool. This could spell bad news for miners, but probably not for the reason you’re thinking of. We’re all aware that Binance is continuing to extend its reach across the industry.

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Binance CEO Says Bitcoin Mining May Move to Cheaper Places ...

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