Connect with us

Bitcoin

“The United States Is Already Mining” Bitcoin… “Maybe,” Says Compass Mining CEO

Published

on

Compass Mining, U.S. flag and helicopter

Does the Compass Mining CEO know something we don’t? Is The United States mining Bitcoin? Whit Gibbs was a guest in a recent episode of Anthony Pompliano’s “The Best Business Show” and spilled the beans… or did he? The host cleverly disguised his question by talking about other countries following El Salvador’s footsteps and starting mining Bitcoin. He also mentioned Venezuela and other not-friendly to the U.S. countries already doing it. Then, he asked point-blank, what would it take for their country to start mining?

Related Reading | Will Bitcoin Mining Backed Volcano Bonds Be Enough To Ward Off The IMF?

“The United States is already mining,” Gibbs answered. And then softened the blow with a “Maybe.” If true, this is huge. And the implications are even greater. “They might have like 10 or 20 watts running somewhere in the midwest to test it out. Maybe. It’s hypothetically speaking. But, it’s a matter of national security.” Was that hypothetical? Or was the Compass Mining CEO giving us inside information? That’s what we’ll try to figure out.

But first, here’s the video: 

What Does The Compass Mining CEO Know?

Well, for starters, he knows Bitcoin is the hardest asset ever created. “When it comes to mining, when you’re talking about what Bitcoin is, whether it’s a store of value, it’s a medium of exchange. It’s the future financial instrument that many, many things are going to be built on top of. Nations would have to be absolutely out of their mind to not be getting some exposure to the underlying infrastructure which supports it.” 

So, it’s safe to say that the Compass Mining CEO is bullish on Bitcoin. Why do we think he might know something the rest of the world doesn’t, though? Gibbs continues, “So, the US I think is on the front foot. We’ve had a lot of conversations with the government in DC, state governments, to help educate them, but they are very forward-thinking when it comes to supporting this.”

So, does the Compass Mining CEO know something we don’t? Is The United States mining Bitcoin already?

Gibbs completes the idea by saying that El Salvador is showing the way to countries that are not at the forefront and, historically, have been hurt by the current system. They now know that being early to Bitcoin can make a huge impact and “get them there.”

BTC price chart for 12/03/2021 on FTX | Source: BTC/USD on TradingView.com

Other Countries That Are Already Mining Bitcoin

Story Time With Pomp And Gibbs. The host senses that the guest knows something and tries to get it out of him. Pompliano shares a story with him: he knows that in 2012-2013 a Federal law enforcement agency was mining Bitcoin. The rationale was that they couldn’t get a budget approved to buy Bitcoin at exchanges to fund black/ undercover operations. So, they filled papers to get computers instead and started mining. The Bitcoin they got was untraceable, it had no history. And they used it to run operations.

Then, it was Gibbs turn. “So, this is how you get in trouble,” the Compass Mining CEO answered. Cleverly, he shifted the focus from the U.S. to other countries. According to Gibbs, a North African that’s a hotspot for the United States is getting into Bitcoin Mining. This is happening at the presidential level.

Related Reading | Bitcoin Mining In The U.S.: 4 States Attract The Most Miners

Also, he lives in Latvia. A very close neighbor of Latvia, “that may have stopped a plane no too long ago, to remove a journalist,” is already mining Bitcoin with nuclear power. The Compass Mining CEO closes his stellar presentation with, “I don’t believe that they’re mining Bitcoin to skirt sanctions. I believe that they’re mining Bitcoin because they see it as the future, and they want to boost their economy, they want to grow.”

You read it here first, Bitcoin is the future and many world leaders know it.  

 Featured Image by Christopher Skor on Unsplash - Charts by TradingView
google news
Advertisement

Bitcoin

Opera’s new launch Web3 Crypto Broswer Is All Set For Your Device

Published

on

Opera's new launch Web3 Crypto Broswer Is All Set For Your Device

Opera, the famous email browser, has introduced a beta version of its web3 crypto browser. The new beta version is more than just your average internet surfer. Along with features such as a built-in cryptocurrency wallet and shortcut for quickly switching between different crypto exchanges. They have also added decentralized apps support.

Web3 Crypto Browser

Opera Web3 crypto browser supports both cryptocurrency and blockchain technology. It can function in an environment where digital currencies are accepted and store your funds securely for use on the web or when making transactions through NFC templates (Sony).

Blockchain is a decentralized solution that reduces the need for third-party verification by providing trust in transactions through digital signatures. Furthermore, the blocks of this network are spread all over the internet, so it’s tough to hack.

Related Reading | TA: Bitcoin Dives Below $40K, Why Bulls Could Struggle In Near Term

Blockchain is the future. It’s been implemented and tested against major corporations that have seen its potential for revolutionizing their industry.

The blockchain is like a security system to store and transmit data. It’s challenging for anyone else to view what you’re doing on this decentralized platform because all copies are identical, making it super safe.

Nowadays, blockchain technology finds itself being used not only by those seeking anonymity but also transparency. Whether you’re an artist wanting domestic creatives’ rights protected.

Web3 Browser Features

The new Opera Web3 Crypto Browser allows you to explore the emerging world of decentralized web apps. Right now, it’s mostly an online home for crypto enthusiasts and strange blockchain applications with sometimes interesting tokens on them.

The future of Web3 is here! With the Opera browser, you can now enjoy a decentralized internet where everything you do will be rewarded with tokens.

This foundation for mass adoption has been developed by an innovative company that understands how important security and privacy are in today’s world-a place without those two essentials would surely lead us into chaos.”

In an official announcement, Opera stated:

Too few of the web browsing experiences offered today have been built with the intention of putting Web3 centerstage and making blockchain technologies understandable and easy to use. With the Crypto Browser Project, we have set out to change this and starting today, we are inviting the blockchain community to join this mission. If we are to take Web3 beyond great ideas, we need to craft products that embrace both crypto enthusiasts who understand the space and those who are only starting and want to explore it. Our belief is that the world of blockchain needs a fully dedicated browsing experience.”

The crypto browser is a new way to make trading cryptocurrency easy and seamless. It allows users who don’t want the hassle of third-party solutions like Coinbase or Bitstamp to trade their coins right from within opera without worrying about losing private keys on babysitting Platforms that are known for security holes.

Total crypto market cap shows a decrease of 3% on daily chart | Source: TradingView.com

Crypto Corner is a unique browser extension in the Web3 crypto browser that contains the most topical and essential crypto news.So you never miss an update on new decentralized applications again.

Blockchain Technology Future

The Web3 project is not new. Do you remember The HTC Exodus 1 phone? It was an ambitious collaboration between many companies, including the well-known crypto wallet and Opera browser, but never saw completion.

The future seems bright for blockchain and cryptocurrency. Some people think it will be one of the most critical networks in our digital world.

Related Reading | TA: Ethereum Nosedives, Indicators Show Signs Of Larger Downtrend

In contrast, others worry about its environmental impact or how quickly these technologies grow saturated with data storage capacity as they are currently doing now due to their popularity among users worldwide.

It is too early to say that blockchain will never succeed. Technology still has many developing stages. We need time for its full potential to unfold before making any conclusions about whether or not this new invention can revolutionize the way we live our lives entirely.

Web3 Crypto Browser Available Versions

Try out this new browser that is so far available for Mac, Android, and Windows. The iOS version will be released soon.

Featured image from Pixabay, chart from TradingView.com
google news
Continue Reading

Bitcoin

Cardano Backed Metaverse Project Pavia’s Land Price Skyrockets

Published

on

Cardano

Last week, Cardano network launched Pavia, a gaming application on the Metaverse. This stands as the first metaverse project operated on the Cardano blockchain.

The use of non-fungible tokens (NFTs), which operate with the same blockchain technology as cryptocurrencies, is increasing. They enable investors to get tokenized assets of their favorite art items, idols, places, etc. NFTs create representations of both tangible and non-tangible items.

According to its design, Pavia has about 100,000 land parcels issued. Each land parcel’s minting is a non-fungible token, NFT, that possesses individual coordinates.

Related Reading | Bitcoin Millionaires Are Flocking To This North American Tax Haven. But What Do The Locals Think?

The pre-selling of the parcels kick-off since 2021 with more than 60% done between October and November. Also, there is a rush for the remaining portions which will be on sale within the first quarter of 2022.

The functionality of Pavia’s native token is as an in-game asset. An airdrop of Pavia’s native token was made to NFT landholders. This was after the blockchain’s snapshot in December 2021.

According to data from MuesliSwap, a Cardano-based exchange, Pavia tokens are selling around 20 cents per coin at the press time. Also, it has a market cap of more than $107 million.

ADA shows a 6% decline on daily chart | Source: ADA/USD on TradingView.com

Furthermore, Pavia landowners are more than 8,300. The data has it that the users were unable to deploy assets over their land on Monday. Caution documents from Pavia have warned customers that they can neither visit nor deploy content to the plots. This was due to the development stage of the land parcels.

More Craving For Metaverse Projects On Cardano

The emergence of Pavia on Cardano is during the period of incredible carvings for virtual parcels of land. Presently, the sale of virtual plots of land runs into millions of dollars on several blockchains such as Ethereum.

The value for land plats on Pavia runs as huge as 30,000 Cardano on CNFT, the Cardano NFT marketplace. This amount is equivalent to about $45,600 at the press time.

The Metaverse is recently getting more attention. It is a virtual world that provides people with unrestricted interactions like the real world.

This distinguishing factor is its digitalization of operations. The functionality of the Metaverse is attracting several firms as they intend to create their appearance on the platform.

One of the companies interested in the Metaverse includes Binance.US, developing on Portals, an office. Portals is a Solana-based metaverse project.

Related Reading | Bitcoin Implied Volatility Plummets To Pre-Bull Market Levels: What This Means

Also, Samsung, a global electronics maker, launched a metaverse brand of its New York City flagship store. This launching took place this January on Decentraland.

Featured Image From Britannica and chart from TradingView.Com
google news
Continue Reading

Bitcoin

Bitcoin Diamond Hands: Despite Recent Fear, Coins Aged 12-18 Months Rise To 2-Year High

Published

on

Bitcoin Diamond Hands: Despite Recent Fear, Coins Aged 12-18 Months Rise To 2-Year High

Despite the recent fearful market, Bitcoin hodlers show diamond hands as coins aged 12-18 months touch a 2-year high.

Coins Matured To 12-18 Months Revisit A High Not Seen Since 2 Years

As pointed out by an analyst in a CryptoQuant post, BTC hodlers have held strong recently as coins aged 12-18 months have seen a sharp spike recently.

The relevant on-chain indicator here is the Bitcoin Sum Coin Age (SCA) Distribution that shows the distribution of coins among the different holders in the market.

The metric works by looking at each coin on the chain and measuring how many days it has been since it was last moved. Based on the age, these coins are put into different categories.

For instance, if a coin has been sitting still since 12-18 months ago, it is included in the 12-18 months holder group.

When the distribution of the long-term holders goes up, it means accumulation has been strong recently. Such a trend has usually been bullish for the price of Bitcoin as it shows a large number of holders refuse to sell at the current levels.

On the other hand, when coins belonging to short-term holders move up, it means some long-term holders have decided to sell. This trend may be bearish for the price of the crypto.

Related Reading | Bitcoin Millionaires Are Flocking To This North American Tax Haven. But What Do The Locals Think?

Now, here is a chart that shows the trend in the supply of coins that have matured to 12-18 months (one of the long-term holder groups):

Looks like the value of the indicator has shot up recently | Source: CryptoQuant

As you can see in the above graph, the coins aged 12-18 months have sharply rose recently, reaching a 2-year high. The highlighted region in the chart is around when these holders bought these coins.

This means that these Bitcoin holders have now held strong through multiple all-time highs, the mini-bear period between May-July, as well as the recent fearful market.

Related Reading | Bitcoin Implied Volatility Plummets To Pre-Bull Market Levels: What This Means

Hodlers showing such diamond hands behavior can prove to be quite bullish for the price of the coin in the long term.

Bitcoin Price

Earlier today, Bitcoin’s price crashed below $40k, touching as low as $38k. Since then, the coin hasn’t recovered much yet.

At the time of writing the crypto’s price floats around $38.8k, down 7% in the last seven days. Over the past month, the coin has lost 17% in value.

The below chart shows the trend in the price of BTC over the last five days.

Bitcoin Price Chart

After weeks of consolidation, BTC's price seems to have finally crashed below the $40k level | Source: BTCUSD on TradingView
Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com
google news
Continue Reading

Trending