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Is Malawi gaining from Bitcoin mining? – Cryptopolitan

Malawi is now one of the few African countries where Bitcoin mining has become a full-fledged hype. The recent Bitcoin mining project, which taps unused hydro energy, is now picking up. According to the company in charge of the project, more than 1,500 families are using the mini-grid in the South of Malawi. The project is deploying more than 50 kilowatts of energy to test the new area as a good site for mining.

Malawi is enjoying the benefits of the project

In the statement released by the company’s CEO, the country is now feeling a positive impact of the project even though it is still in its early phase. He mentioned that the powerhouse project already took flight years ago, but the project could not be completed at the period. This was because it could not reach a larger part of the population, so funding was needed to purchase meters for connection.

However, this new project has overseen that area by providing funds to reach more people. Bitcoin miners thrive in a flexible environment but usually need a high degree of energy to pull off their business. Therefore, they typically locate their mining operations near areas with excessive power. Malawi provides this environment for them, allowing them to use the clean energy source available.

Gridless plans more projects in 2023

This is the second official project Gridless will embark on in Africa. The company flagged off a project in Kenya last year, allowing minor to use clean energy near hydropower in 2022. Asides from the economic impact of locating the mining rigs in Malawi, there are also other benefits that the country is enjoying, such as job opportunities and the like. The executive also said there had been no power issues since the project started, as Malawi is commonly known for load shedding during electricity crises.

The executive also pointed out that asides from the usefulness of the grids, it is also paving the way for efficient services in other aspects of the country. Another executive shared the same vision while stating that there are plans to continue this project across Africa. This trend started last year with El Salvador and has continued to grow in 2023. The companies in charge of the project team up with the companies providing power to subsidize the cost, and in turn, they can keep the whole country afloat by ensuring more job opportunities.




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Genesis Wants $20.9 Million From ‘Bitcoin Jesus’ for Expired Options

  • A unit of Genesis Global says a trader known as “Bitcoin Jesus” has yet to settle all his crypto options trades.
  • GGC International’s claim was part of a January 23 filing in New York State Supreme Court.
  • Genesis filed for bankruptcy this month after being impacted by the bankruptcies of FTX and Three Arrows. 

GGC International, a branch of Genesis Global, alleged that veteran trader Roger Ver, also know as “Bitcoin Jesus,” has yet to settle some of his cryptocurrency options trades, according to January 23 court filings first cited by CoinDesk.

The claims were noted in documents with the New York State Supreme Court in Manhattan shortly after Genesis’ chapter 11 bankruptcy filing earlier this month.

The Genesis subsidiary is a British Virgin Islands company that offers spot trading and derivatives for digital assets, and is owned by Genesis Bermuda Holdco Limited, the report noted. That’s one of the names included in Genesis’ bankruptcy filing. 

Court documents show GCG International seeks “money damages for defendant’s failure to settle cryptocurrency options transactions that expired on Dec. 30, 2022, in an amount to be determined at trial but no less than $20.9 million.”

So-called Bitcoin Jesus was an early advocate for the world’s most popular token, but has also been a polarizing figure within the crypto and blockchain communities. 

Meanwhile, crypto lender Genesis had been facing issues long before the recent collapse of FTX, as Insider previously reported. Months before Sam Bankman-Fried’s exchange imploded, Genesis was impacted by the fall of hedge fund Three Arrows Capital. A wave of executive departures ensued later in the year, and insiders say they felt like they were in the dark regarding the stability of the firm.

Here’s what Derar Islim, interim CEO of Genesis, said in a January 19 statement:

“While we have made significant progress refining our business plans to remedy liquidity issues caused by the recent extraordinary challenges in our industry, including the default of Three Arrows Capital and the bankruptcy of FTX, an in-court restructuring presents the most effective avenue through which to preserve assets and create the best possible outcome for all Genesis stakeholders.”


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Bitcoin, Ether Slip After Crypto Market Cap Regains $1 Trillion Level

  • Bitcoin and other cryptocurrencies lost ground Wednesday following a recent rally. 
  • Bitcoin in January has been in recovery mode after tumbling 64% in 2022. 
  • The broader crypto market this month regained a valuation of more than $1 trillion. 

Bitcoin and other cryptocurrencies moved lower Wednesday, after recent gains propelled the broader cryptocurrency market’s valuation back above $1 trillion. 

Bitcoin fell 1.3% to $22,699, and ether declined 2.1% to $1,565.60. Among other altcoins, Solana gave up 1.5% to trade at $24.16, and dogecoin lost 1.8%.  

Bitcoin so far in 2023 has flown up about 37%, rebounding after a bleak 2022 “crypto winter” performance that left the digital asset down by 64%. 

Its January advance contributed to the cryptocurrency market recapturing a valuation of more than $1 trillion. The market lost grip of that valuation after the November collapse of FTX which has since led founder Sam Bankman-Fried to face eight criminal charges. He has pleaded not guilty to the charges. 

“Bitcoin is consolidating after making a five-month high. The recent rally couldn’t break above the $23,500 level, which could pave the way for a minor dip towards the $22,000 region,” Edward Moya, senior market analyst at Oanda, said in a note late Tuesday. 

He said bitcoin faces major macro events that could lead the world’s largest cryptocurrency to tread water in the short term.

“When all the dust settles from Q4 GDP, the Fed’s preferred inflation gauge, and the Federal Open Market Committee decision, strong resistance should come from the $25,000 level,” he said.

Meanwhile, stablecoin USDC slipped 0.2%. Its parent company Circle has blamed the US Securities & Exchange Commission for the failure of its $9 billion plan to go public through a SPAC, according to the Financial Times.


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Business News | Let’s Discuss Bitcoin Vs Ethereum And How Newcomer Big Eyes Coin is Breaking Big

New Delhi [India], January 25 (ANI/ATK): Crypto lovers and investors are getting excited all around as both Bitcoin (BTC) and Ethereum (ETH) have been on the rise recently! This could indeed be an early sign of the bull market popping off soon.

In the last bull run, Ethereum shocked the market as it performed outstandingly – reaching a peak of over USD 4000 dollars! This left many to question whether new and faster technology such as Ethereum, could flip its predecessor Bitcoin – if such an event ever occurs as many theorise, it would be termed “The Flippening”.

Also Read | Lonza to Buy Back $2.17 Bln Worth of Shares, Backs Mid-term Growth – Latest Tweet by Reuters.

In this article, we will be diving into the differences between Bitcoin and Ethereum. However, as we tend to spend a lot of time debating these two giants and often forget about the small gems which could get you huge gains, we’re going to be exploring Big Eyes Coin, an exciting new cryptocurrency that could attract a lot of investors!

Bitcoin – A Store Of Value

Also Read | Barcelona vs Real Sociedad, Live Streaming Online, Copa del Rey 2022-23: How to Watch Free Live Telecast of Football Match in Indian Time?.

In 2009, the anonymous programmer Satoshi Nakamoto gave birth to cryptocurrency by inventing the first peer-to-peer electronic cash system – Bitcoin (BTC).

The coin was first launched to enable people to make encrypted and secure transactions through the internet, which would eliminate the need for banks or centralized authorities.

Although Bitcoin sparked an entire revolution and paved the way for many cryptocurrencies to come, in recent years, some have begun to argue that Bitcoin is unsustainable. According to the data on the website Digiconomist, a single Bitcoin transaction uses the same amount of power that an average American household consumes in a month.

Whilst work is being done on Bitcoin to improve these issues, one may wonder if it is worth investing in. However, as the Bitcoin supply is limited, it should at least continue to act as a store of value – as it is seen by many as the digital gold of cryptocurrency. Especially as Bitcoin halving comes into play, making BTC supply more difficult to earn, the coin will continue to increase in value.

Ethereum – Layer Up With ETH Before Layer Two Drops

Conceived by Vitalik Buterin in 2015, Ethereum (ETH) went on to be the second most popular cryptocurrency to Bitcoin – it has often been termed as the ‘digital silver of cryptocurrency’.

Anyone can use Ethereum to develop any secure digital technology. It has a token created (ETH) to pay users for work done in favour of the blockchain, but if accepted, users may also use it to pay for material products and services. It also supports smart contracts.

Ethereum is currently working on a layer two solution which will allow the lowering of gas fees used on each transaction, which many would argue is currently too high. Although its clear the team at Ethereum are constantly working on improving its technology.

It is foreseeable that when Ethereum layer two drops, ETH is likely to attract a flood of investors, driving the price up! With this in mind, perhaps its best to get ahead of the crowd early!

Big Eyes Coin – Out With The Old, In With The New

Big Eyes Coin (BIG) is a new innovative meme coin with real-world use cases, driven by its passionate cat-loving community.

Designed with a cute cat mascot on the face of the coin, Big Eyes Coin stands out from its dog-themed competitors such as Dogecoin (DOGE) and Shiba Inu (SHIB). Yes, this is really turning into a battle of cats vs dogs, and Big Eyes could be a strong contender considering it has already smashed a whopping USD 17.5 million in its presale!

As well as shifting wealth into DeFi (Decentralised Finance), the team will also donate 5 per cent of its tokens from each transaction to preserve our marine life in the oceans by placing it into a visible charity wallet. After all, a cat’s gotta eat right?

With the coin already announcing its own NFT collection, news of an early launch and their plans to host big events – this gem has a lot of exciting potential to explode!

Final ThoughtsWhether you feel one cryptocurrency is a better investment than the other; it appears there is room for all at the good table of crypto.

All of these investments clearly have unique perks, features and store value – so perhaps it’s best to split your eggs into each basket and watch your stacks pile up!

For All Things Big Eyes CoinWebsite: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

Twitter: https://twitter.com/BigEyesCoin

This story has been provided by ATK. ANI will not be responsible in any way for the content of this article. (ANI/ATK)

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)




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Ransomware hackers responsible for Bitcoin pump – Cryptopolitan

Yet again! Fox News TV host, Tucker Carlson, put forth a fascinating conspiracy theory that attempts to connect the rising price of Bitcoin with the recent flight delays across the United States, Philippines, and Canada.

Carlson speculated that ransomware attackers were to blame for the Federal Aviation Administration (FAA) system outage that led to the cancellation of 1300+ flights and the delay of a further 10,000+ flights on January 11. Tucker added that the US government purchased a significant amount of Bitcoin (BTC) to pay the ransom. However, the lack of any evidence whatsoever from Tucker to back these claims is something the crypto community finds curious.

Watch the video here:

https://www.foxnews.com/video/6318780618112

On his Fox News show the night of January 17th, Tucker Carlson claimed that the price of Bitcoin (BTC) rose by over 20% after the airport chaos.

Carlson added that the same scenario played out in Canada the day after it happened in the United States. When asked about the coincidence, he remarked, “What are the odds of that?” both nations use their own separate software to route flights.

In a statement regarding the matter, Canadian officials said that the “Canadian NOTAM entry system also experienced a service disruption,” but that it was completely unconnected to the prior malfunction of the United States’ NOTAM system.

Further explaining the extent of the problem, the Fox News host mentioned that thousands of flights had to be rerouted because of a grounding in the Philippines on New Year’s Day.

“Is it possible that somebody is hacking into aviation systems and holding various governments around the world hostage until they pay a ransom?”

Tucker Carlson

Although Tucker’s fanbase found this latest conspiracy theory plausible, the crypto community was not as enthusiastic. Nick Almond, the founder of FactoryDAO, responded to Tucker’s wild claim about the Bitcoin price surge, ransome attackers, and flight delays by tweeting, “maximum tin foil.”

In addition, Almond expressed profound skepticism that the United States government would “secretly” procure billions of dollars worth of Bitcoin on the open market for ransom payments.

In another response to Tucker, Origin Protocol classified the theory as a rather convoluted mathematical problem.

The United States Federal Aviation Administration Standpoint

The FAA grounded all flights on January 11 due to a “computer outage,” causing delays for thousands of passengers. The transportation department claims that this was caused by a glitch in the Notice to Air Missions system (NOTAM), which is used to communicate important information about the airspace to pilots, such as the location and severity of any abnormal conditions.

“Initial investigations led us to conclude that a corrupt database file was the source of the outage. There is currently no evidence to suggest that there has been a cyber attack.”

US FAA

Normalcy has since been restored to the aviation sector in the United States as the FAA swiftly sprang into action to resolve the hiccup.

Bitcoin on the Move

The most popular cryptocurrency is up 38% in value since January 1, 2023. The macroeconomic environment’s current state heightens the BTC pump’s unexpectedness.

Tucker Carlson: Ransomware hackers responsible for Bitcoin pump 3

Bitcoin’s value has increased by 31% since the FAA’s announcement, and the upward trend has prompted a shift to a bullish outlook. Some have interpreted the market as potentially bullish. Keep tuned in for this developing story on FAA system attackers being paid through Bitcoin.

You may read our Bitcoin Price Predictions and Investing Guides to keep on top of crypto events and steer clear of baseless rumors.




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Why Snowden Thinks Bitcoin Feels Most Powerful On Nostr

Former U.S. intelligence contractor Edward Snowden said he has been dealing with Bitcoin BTC/USD since pre-2013, and he has “never seen it feel as powerful as it does now on Nostr.”

What Happened:  “Most people’s experience with Bitcoin payments — if they even have it — is a 30-60 minute wait for mining + two-plus block confirmations, and a fee that made it feel dumb to send less than $20,” he wrote on Nostr, as shared by a Twitter user.

Snowden said when ordinary people and businesses understand that international money transfers can be nearly instantaneous, virtually free, and only require two clicks, things will start to get very exciting. 

“Still need to cover a lot of road on the privacy problem, but this already feels better than everything naked on-chain,” he said.

See More: Best Crypto Day Trading Strategies

Snowden said the hardest problem has always been making it easy for people who don’t care about Bitcoin to accept it, without requiring them to start caring about it.

“The way you do that is by making it ‘better than money.’ We’re not there yet for everybody, but for the first time in many years, I caught a glimpse of how it might be possible,” he added.

Snowden on Tuesday hailed Nostr as a replacement for Elon Musk‘s Twitter and Meta Platforms Inc.‘s META Instagram

Nostr’s official website describes the platform as a decentralized network based on cryptographic key pairs. The platform was created anonymously and no company has yet been revealed to be behind this new social media site. 

Price Action: Bitcoin was trading at $22,556 down 2.24 in the last 24 hours, according to Benzinga Pro.

Read Next: Bitcoin, Ethereum, Dogecoin Slide: Analyst Says Apex Crypto In For ‘Very Interesting’ Rally Or Short-Term Pullback

Photo via Cory Doctorow on Flickr

 


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Bitcoin Jan. 24 daily chart alert – The uptrend is the bulls’ friend

Welcome to Kitco News’ 2023 Outlook Series. Uncertainty continues to dominate financial markets as central bank monetary policies push the global economy into a recession to cool down inflation. Stay tuned to Kitco News to learn from the experts on how to navigate turbulent financial markets in 2023.

(Kitco News)Bitcoin-U.S. dollar prices are a bit higher in early U.S. trading Tuesday and near this week’s four-month high. The BC bulls have the solid overall near-term technical advantage amid a steep price uptrend in place on the daily bar chart. That suggests more price upside is likely in the near term. Stay tuned!


Bitcoin trades near $23k as the crypto market rally extends into a third week



Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.




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Mid-Market Update: Stocks waver, US PMIs improve but cost pressures return, Unnecessary NYSE chaos, 3M’s warning, Oil drops, Gold hovers near highs, Bitcoin softens

US stocks edged lower after a mixed bag of economic data still keeps the inflation risk on the table. Earnings season is about to heat up soon and if Microsoft and Texas Instruments are too cautious with the outlook, that might kill risk appetite.

PMIs

The US flash PMIs showed a steady improvement across both the manufacturing and service sectors, but also ended a seven-month sequence of moderating input price rises.  The PMIs are positive for the growth outlook, but raises some concern that inflation may prove to be harder to bring down as faster increases in costs burdens are weighing on private sector firms. 

The impressive US PMIs matched the eurozone’s strong prints, which could support the argument that both the Fed and the ECB can keep delivering their respective rate hikes. The UK PMIs were disappointing as services deteriorated further. 

NYSE Halts

A lot of major stocks on the NYSE had some wild moves as low volumes were accompanied with prices that didn’t match up to the fundamentals.  Erroneous prices will lead to some chaos for some traders that were taking on positions at the open.  An apparent technical issue will disrupt what the opening price will be for many traders.  This mess will take some time to clean up and some traders that tried to take advantage of the wrong price might find their orders blown up.  

3M

3M Co delivered rather disappointing guidance that shook up some of the optimism that was brewing about this economy.  The maker of a lot of stuff will cut 2,500 manufacturing jobs as demand weakens.  They are facing rapid declines in consumer facing markets and that is a big red flag for a lot of investors. 

Oil

Crude prices tumbled after a steady dose of bad news from the economy: both manufacturing and service sectors remained in contraction territory and on many downbeat earnings.  The headlines were mostly not supportive of an improving outlook.  Traders digested another weak Fed manufacturing report and disappointing earnings guidance from 3M and Union Pacific. It seems that China’s reopening momentum has taken WTI crude back to the $80 level but that might be as far as it goes over the short-term. 

Energy traders will wait to see how the supply side of the market evolves. If the US keeps posting massive builds as demand softens that could put some pressure on oil.  Expectations are growing for OPEC+ to keep output steady, but if demand fears grow, they could easily reduce output.

Gold

Gold prices remain elevated but are wavering after yields decline on growth fears and after better-than-expected PMI data. Gold appears poised to consolidate here until we get beyond Q4 GDP and the FOMC decision.  Earnings have been coming in soft and a weakening economy should keep safe-haven flows stable for gold. 

Crypto

Bitcoin is consolidating after making a five-month high.  The recent rally couldn’t break above the $23,500 level, which could pave the way for a minor dip towards the $22,000 region.  There are too many big macro events ahead that Bitcoin won’t do much of anything.  When all the dust settles from Q4 GDP, the Fed’s preferred inflation gauge, and the FOMC decision, strong resistance should come from the $25,000 level. Bitcoin’s rally is about to get very interesting or it could be ripe for a short-term pullback.         

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Ed Moya

With more than 20 years’ trading experience, Ed Moya is a senior market analyst with OANDA, producing up-to-the-minute intermarket analysis, coverage of geopolitical events, central bank policies and market reaction to corporate news. His particular expertise lies across a wide range of asset classes including FX, commodities, fixed income, stocks and cryptocurrencies.

Over the course of his career, Ed has worked with some of the leading forex brokerages, research teams and news departments on Wall Street including Global Forex Trading, FX Solutions and Trading Advantage. Most recently he worked with TradeTheNews.com, where he provided market analysis on economic data and corporate news.

Based in New York, Ed is a regular guest on several major financial television networks including CNBC, Bloomberg TV, Yahoo! Finance Live, Fox Business and Sky TV. His views are trusted by the world’s most renowned global newswires including Reuters, Bloomberg and the Associated Press, and he is regularly quoted in leading publications such as MSN, MarketWatch, Forbes, Breitbart, The New York Times and The Wall Street Journal.

Ed holds a BA in Economics from Rutgers University.

Ed Moya




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Bitcoin Nears This Key Level; Threshold Emerges As Top Gainer

Bitcoin BTC/USD traded higher this morning, with the cryptocurrency prices approaching the key $23,000 level on Tuesday.

Ethereum ETH/USD, meanwhile, edged lower, but remained above the key $1,600 mark on Tuesday.

Threshold (CRYPTO: T) was the top gainer over the prior 24 hours, while Axie Infinity AXS/USD turned out to be the biggest loser.

At the time of writing, the global crypto market cap rose to $1.05 trillion, recording a 24-hour gain of 0.6%. BTC was trading higher by 0.5% at $22,977, while ETH fell by around 0.1% to $1,628 on Tuesday.

Here are the top ten crypto gainers and losers over the past 24 hours:

Gainers

Price: $0.05571

24-hour gain: 128.6%

Price: $0.3193

24-hour gain: 11.1%

Price: $2.70

24-hour gain: 10.3%

Price: $39.19

24-hour gain: 8.4%

Price: $154.87

24-hour gain: 8.4%

Losers

Price: $11.95

24-hour drop: 3.7%

Price: $51.70

24-hour drop: 3.5%

Price: $51.02

24-hour drop: 3.2%

Price: $0.9667

24-hour drop: 2.6%

Price: $4.06

24-hour drop: 2.4%

Read This Next: Amazon To Rally Over 28%? Here Are 10 Other Analyst Forecasts For Tuesday


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