Musk changed his name on Twitter, and the cryptocurrency of the same name was born quickly, soaring 800% in 6 hours
Musk renamed Lorde Edge on Twitter The cryptocurrency of the same name was born quickly On Sunday, Eastern Time, Tesla CEO Elon Musk changed his Twitter People quickly used this name, and the cryptocurrency named "Lorde Edge" was born quickly and officially started trading last night, Beijing time. But some people think that this new name has nothing to do with cryptocurrency. Instead, according to Webster's Dictionary, some Twitter users said that Musk's new name might refer to "edge lord," an Internet slang term referring to a person who desires attention or acts boldly or unconventionally people. Although there is no indication that Musk himself has any connection with this digital currency, the price of this encrypted currency has been pushed up quickly.name to "Lorde Edge." It is worth noting that the market value of this newly born cryptocurrency is still minimal, so it is easy to skyrocket and plummet. 6 hours skyrocketing 842% Then it quickly plummeted by nearly 80% According to coinmarketcap data, at around 6:48 pm on Sunday, November 8th, Beijing time, the cryptocurrency named Loder Edge officially started trading, and the price was around US$0.00000313 at that time. The cryptocurrency skyrocketed the night before. In the early hours of yesterday, at around 0:48, the price of this cryptocurrency once touched $0.00002948, which was 842% higher than when it started trading. This means that in about 6 hours, this cryptocurrency has skyrocketed by more than eight times. However, the rising trend of this cryptocurrency could not be maintained. In the early hours of yesterday morning, the cryptocurrency plummeted after hitting an intraday high. At around 1:53 am on the 9th, this cryptocurrency quickly fell to $0.000006858, a 76.74% drop compared to the intraday high. At around 10:30 am yesterday, the cryptocurrency fell to 0.000006086 US dollars, a plunge of 79.35% from the intraday high. Dogecoin is also hitting hot spots Once soaring over 9% Musk did not explain the reason for the short name change of Twitter, and there are many kinds of speculation on the market. The founder of Dogecoin said on Twitter that "Lorde edge" is an anagram of "elder doge" (that is, words with the same letters but different alphabetical order). The founder of Dogecoin also pointed out that this does not mean that Musk changed his name on purpose, but "Lorde edge" is indeed an anagram of "elder doge." In the comments made by the founder of Dogecoin on Twitter, many believe that Musk is concealing Dogecoin again, and some netizens expect Dogecoin to rise accordingly. Dogecoin also succeeded in catching up with the hot spot. It broke through $0.29 on the 8th. Compared with the closing price of 0.2653 on the 7th, it rose by more than 9%. Musk has repeatedly expressed his support for the development of Dogecoin. Yesterday, Dogecoin announced the release of the Dogecoin Core 1.14.5 upgrade. Following the reduction of the relay fee in 1.14.4, 1.14.5 reduced the recommended fee and included bug fixes and performance improvements. In this regard, Tesla CEO and the world's richest man Elon Musk reposted and commented on Twitter: "This is important." In October, Musk also tweeted that he planned to build a university in Texas called Texas Institute of Technology. He also stated in a reply that the university's tuition fees would be paid in Dogecoin, adding that if you are a dog owner, you can also get a discount. Small market capitalization cryptocurrencies are prone to skyrocketing and plummeting Investors need to be aware of risks Like stocks with small market capitalizations, cryptocurrencies with small market capitalizations will also face liquidity, price volatility, and other issues. Investors must remember not to be dazzled by high yields because cryptocurrencies often plummet rapidly after they skyrocket. On October 26, the Squid Coin (SQUID), named after the hot drama "Squid Game" officially began trading. The cryptocurrency was issued for $0.01, and the price soared to $2,856.64 on November 1. But after the price peaked, it quickly plummeted to only $0.0008 within a few minutes, and the value was almost zero. Data shows that when the squid coin plummeted, the currency holders exceeded 46,000. CoinMarketCap also warned that Netflix did not officially launch the project but just used the same name. The price of the cryptocurrency Dogelon Mars named after Tesla CEO Musk has also skyrocketed and plummeted. In the early morning of October 31, the cryptocurrency's price once rose to 0.000002587 USD, an increase of more than 333% within 24 hours. But on November 5, the cryptocurrency price fell to $0.0000008889, a drop of more than 65%.
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Bitcoin rose nearly 50% in October. Kraken Intelligence stated that Bitcoin holders insisted on holding positions rather than taking profits. This move triggered a "supply shock" and led to a bull market in the Bitcoin market.
Pete Humiston, manager of Kraken Intelligence, said: “Large entities and small participants who protect the network through mining pools seem to be hoarding bitcoin.” Although the price of bitcoin had reached a historical high of $67,000 before, it includes Riot Blockchain, Bitcoin holding entities such as Marathon Digital and Hut 8 Mining did not take the opportunity to sell Bitcoin. In addition, another indicator that may prove Bitcoin's upward trend is that the number of active addresses in October increased by 10.3%, which shows that people's interest in cryptocurrencies is growing. The average daily trading volume also increased in October. D.A. Davidson analyst Christopher Brendler is optimistic about Bitcoin and the miners who hold it, saying that its earnings will see "explosive" growth. In addition to Bitcoin, Ethereum, the world's second-largest cryptocurrency, also showed an upward trend. Ethereum hit a new high last Friday; with the outbreak of altcoins such as SHIB, it has triggered a new upsurge in the market, and it has also brought an increase in the amount of Ethereum burned: the amount of Ethereum burned has reached a record high for two consecutive days. This creates a deflationary effect, which expands the increase in the economic value of ETH, thereby promoting a breakthrough in the price of Ethereum. On October 21st, BTC hit a record high after a trough period of nearly half a year, reaching a maximum of 66,999 US dollars; ETH also rushed to a maximum of 4,375 US dollars. A few hours later, Tesla founder Elon Musk revisited the topic of encryption on Twitter. He posted a connotative picture showing the towering quotations of BTC and ETH. On the same day, Tesla released the third quarter financial report of this year, and its revenue and profitability data increased significantly. What is interesting is that the financial report shows that Tesla still holds Bitcoin, which means that Musk has complied with the promise represented by the "diamond hand" expression that was made when the market crashed on May 19th. In the crypto circle, this expression often means not afraid of market fluctuations, holding positions until the target.
According to estimates, Tesla currently holds more than 40,000 BTC, and the cost of a single currency is about 30,000 US dollars. At the current market price, its profit has exceeded 1 billion US dollars. Musk is happy here, but investors who bought DOGE at high positions are still losing money. On October 22, DOGE quoted a price of US$0.248, which was still a 66.5% drop from the high of US$0.74 in early May. Because Musk has repeatedly called for DOGE to promote its sharp rise, many people blame Musk for investment losses. In fact, during the skyrocketing of DOGE and other animal currencies, Musk reminded in a street interview that "no one should invest all of his wealth in cryptocurrency." Tesla's holdings of BTC make more than 1 billion U.S. dollars in profit No matter what Musk wants to express, this tweet sends a signal that the man who once stirred the market is back. Looking at Musk’s Twitter, in the past two or three months, his personal dynamics have almost revolved around Tesla and the exploration of space. Crypto assets are rarely mentioned. This is the same as the frequent comments on the crypto market in the first half of the year and caused significant fluctuations. He is totally different. Looking back, Musk’s most impressive recent speech on crypto assets is "Tesla has diamond hands." That tweet was published on May 19, when BTC plummeted to $29,000 on that day, and the "diamond hand" usually means defying market fluctuations and holding positions until the target. Musk returned to the public opinion field of the crypto world with BTC to a new high. What is striking is that Tesla also announced its third-quarter financial report on the same day. The financial report shows that Tesla’s third-quarter revenue was US$13.76 billion, a year-on-year increase of 57%, and its operating profit was US$2 billion, a year-on-year increase of 148%. According to its third-quarter balance sheet, Tesla currently holds $1.26 billion in crypto assets, which is $51 million less than in the second quarter. According to industry estimates, Tesla did not conduct any new bitcoin selling or buying operations in the third quarter. In other words, Musk and Tesla did not violate the attitude of "diamond hand" during Bitcoin's decline and turmoil. Although the third-quarter financial report showed that Tesla's crypto assets were impaired, with the recent return of BTC to above $60,000, Tesla's investment has actually reaped huge returns. According to estimates, Tesla currently holds more than 40,000 BTC, and the cost of a single currency is about 30,000 US dollars. Now its investment has doubled and the profit exceeds 1 billion US dollars. Judging from the results, Bitcoin did not live up to Musk's "diamond hand". DOGE still hasn't recovered Tesla's financial report is eye-catching, and the price of Bitcoin is back. Musk once again talked about the crypto market. Everything seems to be back on the eve of the "5·19" plunge. However, many crypto-asset investors have found that the money they lost has not come back because the prices of many altcoins are still far from their highs during the year, such as DOGE. On October 22, DOGE quoted a price of US$0.248, which was still a 66.5% drop from the high of US$0.74 in early May. And if it wants to return to highs, DOGE needs to rise by 198%. Because Musk played a vital role in the earlier DOGE skyrocketing process, many investors blame Musk for their losses. Under many of his tweets, there are comments similar to "I lost all my savings by investing in DOGE." Some people denounce Musk for profiting through market manipulation, and others beg Musk for assistance. Never responded to a similar topic. Looking back now, Musk actually hinted at risk. In a video of a roadside interview, he reminded that no one should invest all of his wealth in cryptocurrency, "but if you want to speculate and entertain on a small scale, you can still do it." Although he did it during the frenzy of the market. A reminder, but apparently many people did not listen to these words and suffered heavy losses. Whether it is from Tesla's main business operation or investment return, Musk's life and career are still climbing to a peak, and his life has not changed much due to the collapse of the crypto asset market in the previous stage. But for many investors who have lost most of their net worth, their lives and mentality are no longer what they used to be. In this contrast, if you look back at the picture Musk posted on Twitter, you may understand why there are different conjectures in the comment area. Optimists and pessimists are facing the same thing. At times, they tend to taste different flavors. There was a well-known former Soviet film called "Moscow Does Not Believe in Tears." The same is true in the turbulent crypto market. Musk did not believe in tears. When the market plunged and caused panic, he put out a "diamond hand"; and relatively fragile and drifting investors eventually became disadvantaged in the market game. One side. For investors who have lost money from investing in DOGE, this painful lesson should be an important lesson. Ironically, as Musk once again returned to the vision of the crypto world, many people again placed their expectations on him. In the Twitter comment area, many people hope that Musk will continue to shout for Dogecoin to promote the price increase; of course, there are also investors who are tired of his influence on the market, and what is still in their ears is the investor's complaint. -Please stop manipulating the market. The US Bitcoin futures ETF has been approved, will it be a long time away from the spot ETF?10/19/2021 On Tuesday, October 19th, US local time, the ProShares Bitcoin futures ETF will be launched on the New York Stock Exchange trading platform NYSE Arca under the code BITO.
Fundstrat founder Tom Lee said on Monday that the arrival of the first Bitcoin futures ETF should improve the already bullish environment for cryptocurrencies. He believes that the new Bitcoin futures ETF can push Bitcoin to more than $100,000. Bloomberg analyst Eric Balchunas predicts that the Valkyrie Bitcoin futures ETF may be launched later this week. The ETF was certified for listing on the Nasdaq exchange last week. If this is true, this milestone will make Valkyrie's fund the second Bitcoin ETF issued in the United States. The approval of the first Bitcoin ETF led to a rise in bullish sentiment in the cryptocurrency market, with an inflow of US$80 million in digital asset investment products last week. Michael Sonnenshein, CEO of Grayscale, a cryptocurrency fund management company, published his views on Bitcoin ETFs in CNBC’s Squawk Box column. He expressed his excitement to see that the regulatory authorities will finally allow Bitcoin ETFs to be launched on the national securities exchange platform. At the same time He said that the product structure of the Bitcoin futures ETF can have an impact on investors. The approval of the first Bitcoin futures ETF is likely to attract more funds and more investors into the ecosystem. Michael Sonnenshein also believes that after approving the first Bitcoin futures ETF, the U.S. Securities and Exchange Commission (SEC) is likely to bring an Ethereum-based ETF to the market. At the same time, Grayscale has officially confirmed that it plans to submit an application to the U.S. Securities and Exchange Commission (SEC) to convert its Bitcoin trust into a Bitcoin spot ETF. The company stated that once the SEC issues "clear" and "official" instructions, Grayscale will apply for approval. So can the Bitcoin spot ETF be approved? This question depends on the US Securities and Exchange Commission, and possibly the success of the upcoming Bitcoin futures ETF. So far, the US Securities and Exchange Commission has not indicated any positive signs that it will approve one item. According to TheBlcok report, there will be about 5 Bitcoin futures ETFs ready to be launched in the near future, and 2 may be launched this week. The launch of the Bitcoin futures ETF may not harm the application of a spot ETF. However, if these futures ETFs are going well, are fairly large, and can meet investor demand for Bitcoin through the ETF channel, the US Securities and Exchange Commission may argue that the demand has been met and there is no need to authorize a spot ETF. The success of the Bitcoin futures ETF depends on whether large investment companies such as Charles Schwab and TD Ameritrade will provide ETFs to their customers. If these institutions do not provide all customers with only "certain Customers" visit, then the performance of the BTC futures ETF may be affected. Since the beginning of this year, the term NFT has frequently appeared in the public eye. Why is NFT so popular? What types of NFT are there? Is NFT hype or consensus? Let’s talk about the hottest NFTs this year. The full name of NFT is "Non Fungible Token", that is, non-homogeneous token, which is a digital asset on the blockchain. Different from homogenized tokens, NFT is essentially a blockchain-on-chain token with uniqueness, indivisibility, and difference. It maps offline data content to data through links on the chain. The asset-based carrier of content realizes the value circulation of data content, so that it can mark the ownership of native digital assets to anchor real-world commodities. Through its characteristics, NFT provides a feasible way to virtualize real assets, which is of great significance in today's accelerating digitalization. Since the encryption technology enthusiast Hal Finney put forward the concept of encrypted trading card in his community Cypherpunks group in 1993, NFT has a history of about 28 years. The NFT application field is gradually expanding, expanding from the original niche circle to the art circle, cultural consumption circle and other major circles, involving art, copyright, sports events, meta universe, etc., and the industrial ecology is gradually taking shape. With the continuous emergence of art collection projects, traditional companies such as Christie's, LV, Gucci, Visa, etc. have also begun to deploy in the NFT field. In terms of market size, in general, the NFT market is still in its infancy at this stage, and the market penetration rate is still relatively low. Compared with Bitcoin, which is popular all over the world, the overall market value of NFT in 2020 is only 0.17% of BTC, and the market is relatively small. Crowd. However, due to its huge imagination and clear asset transaction attributes, the scale of the NFT market has shown rapid growth in recent years. According to the data of NonFungible.com, from 2018 to 2020, the total market value of NFT rapidly increased from 41 million US dollars to 338 million US dollars, an increase of more than 8 times, with an average growth rate of more than 400%, an amazing growth rate. According to CoinGecko data, 2021H1, the NFT industry The overall market value reached US$12.7 billion, an increase of nearly 310 times compared to 2018. In 2021, the NFT market will usher in explosive development. According to statistics, as of September 1, the total market transaction volume of NFT has reached approximately 5.9 billion U.S. dollars, of which the Q2NFT market transaction volume reached 754 million U.S. dollars, a year-on-year increase of 3453%. The month-on-month growth is 48%, and it is predicted that under the influence of its continuous expansion, it will explode even more amazing growth potential. In terms of subdivisions, the virtual world, artwork and games are the most important application areas of NFT in 2020, and the three together account for 72% of the NFT application areas. After that is the sports field, occupying the fourth place in the application distribution with a proportion of 13%, and virtual assets at the end, occupying only 4% of the total application share. It is worth noting that in the Q2 quarter, the proportion of applications is obviously inclined. Driven by phenomenon-level products such as CrytoPunks, Bored Ape YC, etc., the transaction volume of the collectibles field ushered in a bright moment, the proportion of applications has increased significantly, and the proportion of applications has increased rapidly. Increased to 66%, the application gradient is highlighted. The previous strong artworks and games have fallen to 14% and 5% of application shares respectively.
CryptoPunk 7804 was sold for 4200 ETH, valued at USD 7.57 million, Visa bought CryptoPunk 7610 for USD 150,000, and Curry bought Bored Ape YC for USD 180,000. Since 2021, avatar projects have shown strong growth momentum. Ushered in its bright moment in the market. According to Messari data, avatar NFT projects have become the top 3 market share players in the NFT digital art market. In the second quarter of 2021, avatar NFT projects generated nearly US$350 million in secondary sales, an increase of 40% from the first quarter. , And as of 2021, according to incomplete statistics, avatar projects have generated more than 1 billion U.S. dollars in sales. In terms of specific applications, the market demand for avatars is relatively concentrated, and the head effect is becoming more prominent. Estimated and calculated based on rarity data, and estimated market value based on 7-day average transaction ETH prices. CrytoPunks maintains an absolute lead with nearly 50% of the market share, followed by Bored Ape YC and Meebits, which together account for 76 of the avatar market share. %about. Waist avatar projects such as Cool Cats and Hashmarks continue to fluctuate according to different market shares, but the overall performance is relatively stable. At the same time, as the avatar market is getting hot, emerging projects such as CyberKongz VX and 0N1 Force are also emerging. Although from the overall market perspective, the NFT avatar market is still niche, and most of its project market holders fluctuate at around 2-5 thousand, its demand is still showing a steady growth trend. Taking the representative CrytoPunks as an example, OpenSea data shows that as of August 31, the transaction volume of CryptoPunks in the past 7 days has increased by 143.59%, and the monthly average transaction price has increased by 116.26% compared with the previous month. Its total transaction volume has broken down on August 23 800 million US dollars, a record high. The 0N1 Force, which was launched on August 20, currently has a transaction volume of more than 38,305.33 ETH, with a total number of transaction holders of 3,900, and the floor price has risen to 3.4 ETH. The popularity of avatar apps can also be seen from the Ethereum burning data. According to the Ethereum burning tracker Ultrasound.money data, the NFT avatar project CyberKongz VX after its launch on August 15 exceeded OpenSea and Uniswap with 1437.13 ETH burning. V2, Axie Infinity and other projects quickly jumped to the first place on the 24h burning list of the day, and once again saw the fiery feedback from the market on avatars. On the evening of September 27, Alibaba International Station officially released the "Announcement on Prohibition of the Sale of Virtual Currency Miner Products".
The announcement stated that in accordance with relevant laws and regulations, as well as the instability of laws and regulations on virtual currencies and virtual currency-related products in various international markets, the platform will ban the sale of Bitcoin, Litecoin, Biocoin, and Quark after evaluation by the platform. Based on virtual currencies such as currency and ether, merchants are prohibited from selling virtual currency miner products. Products that are currently on the shelves can still be traded, but new products cannot be released anymore and will be completely banned on October 8. Encryption platform collectively bid farewell to mainland China According to the control rules issued by Alibaba International Station, the stock orders on the platform will continue to be fulfilled, and follow-up after-sales related issues will be resolved. The agreed delivery time for new orders from September 27 to October 8 must be before January 8, 2022. From October 8th, no new orders and payments for products under the category will be accepted. Please strictly abide by the laws and regulations of various countries and platform rules for the fulfilled stock orders. If the merchant returns the payment made by the buyer, the platform will bear the related costs (such as handling fees) incurred by the refund. The platform requires that merchants who release virtual currency miner products and related products starting from 10.15 will be punished in accordance with relevant rules. For malicious bypassing of rules or product categories, the platform will take penalties including but not limited to increasing deductions, blocking shops, restricting members' use of website product functions, freezing accounts, and closing accounts according to relevant platform rules. Since September 24, the People’s Bank of China and other ten departments jointly issued the "Notice on Further Preventing and Disposing of the Risks of Virtual Currency Trading Speculation" clearly stated that virtual currency does not have the same legal status as legal tender, and its related business activities are illegal After the financial activities, many virtual currency-related companies such as Spark Pool, Huobi, Loopring Technology, and AEX Security Exchange have issued announcements to suspend business in the mainland or restrict the registration of mainland users. At present, the IP address in mainland China can no longer open the market information websites such as CoinGecko, TradingView, and CoinMarketCap. On September 25, the official website of the cryptocurrency wallet TokenPocket issued an announcement stating that TokenPocket wallet actively embraces relevant regulatory provisions, and will terminate certain functions and services for inland users in China. “At present, there are many problems with crypto assets. From top-level design to bottom-level transactions, from market mechanisms to regulatory compliance, there are serious legal issues, and some aspects even involve the legislative level, which is extremely difficult to solve. In fact, the global currency regulatory level It is not the role of crypto-assets as emerging investment products, but the attack on crypto-assets' tactics to position themselves as cryptocurrencies and challenge the sovereignty of centralized currencies of global central banks." Unlike traditional precious metal currencies and paper money, cryptocurrency has no value in itself. In addition, its so-called mining method has not created any value for society, but consumes huge electric power and consumes huge computer resources. Many countries tighten the regulation of the encryption industry The attitude of the international market towards cryptocurrencies has become increasingly tough. Recently, U.S. regulators issued a strong warning to the encryption industry, saying that it is in danger of repeating the toxic cultural mistakes before the 2008 financial crisis. According to reports, on September 17, officials from the U.S. Treasury Department have concluded on the most urgent risks posed by Tether and other stable currencies, and are preparing to make recommendations for strengthening cryptocurrency supervision. The policy framework will be in the future. Announced in a few weeks. According to reports, on September 27, Indonesian Trade Minister Muhammad Luthfi stated that although Indonesia will not completely ban cryptocurrencies, it will tighten supervision. On the same day, the Swiss Financial Market Supervisory Authority (FINMA) stated that it will closely monitor local cryptocurrency providers, and that platforms and brokers dealing with digital assets in Switzerland must strengthen monitoring and will observe whether unscrupulous participants use cryptocurrencies. Previously South Korea’s revised "Specific Financial Transaction Information Reporting and Use Law (Special Law)" stipulated that cryptocurrency exchanges operating in South Korea must obtain information security management system (ISMS) certification and report to South Korea’s financial intelligence before September 24 Agency (FIU) registration. According to our previous report, as of September 24, more than half of South Korea's cryptocurrency exchanges have completely shut down operations. In recent years, in order to maintain social stability, regulatory agencies in various countries have increased their supervision of the virtual currency market. In the virtual currency market, there are more speculative behaviors rather than investment behaviors, which will cause the entire market to be greatly "off the real to the virtual", and in the long run, it is easy to cause systemic financial risks. In addition, many people buy miners for Bitcoin mining, which is a great consumption of energy, electricity, etc. In China, cryptocurrency has been defined as "illegal." For investors of cryptocurrency, they need to be cautious and protect their own safety. It is not suitable to conduct virtual currency transactions. Improper transactions involving virtual currency are included in the criminal law. Staying away from virtual currency transactions is a good protection for your own financial safety or personal safety. Although the regulations of various countries have become more strict with regard to the development of Bitcoin and other cryptocurrencies, there are still more and more giant companies participating in it. On September 24, Twitter announced that it would allow users to use Bitcoin on social networks to tip creators they like. On September 15, AMC Entertainment Holdings, the largest theater chain in the United States, stated that it plans to start accepting bitcoin for online ticket purchases and licensed products before the end of this year, as well as other cryptocurrencies. On August 23, the US payment giant PayPal announced the launch of a cryptocurrency service in the UK, allowing UK customers to buy, hold and sell digital currencies. In addition, since Bitcoin officially became the legal tender of El Salvador on September 7, some Central and South American countries have expressed their views to legalize cryptocurrencies. The global investment market is currently turbulent. The Fed’s attitude towards inflation and interest rate hikes has disappointed Wall Street. Today, when inflation expectations are rising, it is normal for some Wall Street venture investors to invest in assets in the currency circle. Background. El Salvador and Venezuela, they use cryptocurrency to replace their national currency with the purpose of eliminating national concerns about the uncertainty of their currency. Therefore, the stance on cryptocurrency stems from whether the currency itself is strong or not. The better the close correlation between the currency and monetary policy, the stronger the country's ability to implement it, and the stronger the resistance to cryptocurrency. Encrypted assets are indeed favored by some giant companies and investment institutions, but it is the Internet emerging companies that are more worthy of attention. These companies themselves are digital companies, and they will definitely look for their own value and expression of value in the digital ecosystem. Risks exist in any market. High risks and high returns are matched. Investors should not just look at one of them. Therefore, investors need to be cautious. Bitcoin adoption is on the rise, and major industries are beginning to realize that Crypto is something they cannot ignore.
After El Salvador adopted Bitcoin as legal tender, New York City began to adopt Bitcoin, which caused a storm in the real estate sector. A large real estate company in New York City announced that it would sell some of its major real estate to buy Bitcoin and opened the transaction to buyers from all over the country, including mainland China and Hong Kong. Magnum Real Estate Group is a company headquartered in New York City, USA. The company announced that it will accept Bitcoin as a payment method for this property. This is the first commercial real estate transaction in New York City. The company has opened the transaction to buyers from all over the world. If these properties are sold in Bitcoin, they will be the most valuable properties ever purchased with Bitcoin. This transaction will be processed by BitPay, and a 1% handling fee will be charged, and the amount will be paid in the corresponding Bitcoin at the time of purchase. Magnum explained that, given that these properties are already generating income, buyers of these properties will immediately see cash flow. The company considers itself a pioneer in Bitcoin transactions in the industry. Ben Shaoul, managing partner of Magnum, said, "We are pioneers in Bitcoin transactions, and we see the possibility of using blockchain technology for more transactions." Despite the slow pace, the real estate market has not been completely left behind by Bitcoin. Some real estate transactions have already adopted Crypto. The most notable of these is the $22.5 million beach house in Miami that was sold through Crypto, which is currently the highest value real estate sold through Crypto. At the same time, 1 Hyde Park, the most expensive penthouse in London, recently opened with a value of US$244 million. Users can choose to buy it with Crypto. Obviously, if sold in this way, it will make it the largest Crypto real estate transaction in the world. All these developments have had a significant impact on Crypto. The Times reported that 40-year-old Vineet Budki used Bitcoin to buy a house in Dubai. The Crypto miner bought this $1 million villa. Ben Shaoul stated that this will not be the company's only Bitcoin transaction this year. The managing partner of Magnum Real Estate Group expects that the company will conduct two or three BTC transactions this year. For a long time, real estate has been the best performing investment in modern history. Now, with the blessing of Crypto assets, its ability to increase value seems even stronger. According to reports, stablecoin issuer Tether Ltd. refuted speculation that its USDT stablecoin was backed by commercial paper issued by the Chinese real estate giant Evergrande Group.
Tether’s external spokesperson Alex Welch said in an email on Wednesday: “Tether does not hold any commercial papers or other debts or securities issued by Evergrande, and has never done so... As we have issued in the statement and recently As stated in the guarantee certificate, the report date is June 30, 2021, and most of the commercial papers held by Tether are issuers rated A-2 and above." Tether revealed in May 2021 that the USDT stablecoin is backed by a combination of cash, U.S. Treasury bonds and other assets, and nearly half of its reserves are backed by commercial paper. However, the company declined to disclose the issuer of the commercial paper, only announcing the rating. Iran will lift the mining ban but electricity prices may rise. Are the miners happy or worried?9/8/2021 Iran issued a four-month temporary ban on cryptocurrency mining in May of this year. However, according to foreign media, the CEO of Iran’s power generation, distribution and transmission company Tavanir confirmed that the temporary ban will be lifted on September 22 , All miners who have obtained mining permission can resume mining.
It is understood that Iran recognized cryptocurrency mining as a legal industrial activity as early as July 2019, but mining companies must obtain relevant permits from the Ministry of Industry. The Ministry of Industry has also issued licenses to 30 mining companies, which has attracted a large number of miners from all over the world to Iran for mining. However, since January this year, more than ten provinces and cities in Iran have experienced large-scale power outages. In order to cope with the power shortage caused by the peak summer power consumption, the then Iranian President Hassan Rouhani announced the ban on encryption on May 26 this year. Currency mining. The main reason for aligning licensed miners with illegal mining miners is the surge in electricity consumption in mining. The daily electricity consumption of illegal mining miners is about 3000 megawatts of electricity, which is ten times that of licensed miners. Power outages in some areas have affected the daily lives of local people, causing many citizens to protest on the streets. The government had no choice but to issue a four-month ban to alleviate the current power shortage. Iran is located in West Asia and belongs to a Middle Eastern country. It has a land area of about 1.635 million square kilometers, about the size of Xinjiang. According to the 2019 population statistics, the total population of Iran is about 81.65 million, which is not as large as a Sichuan province in China, but the country is in the Middle East. Naturally, oil and natural gas resources are very abundant, and the economy is also dominated by oil exploration. Earlier, the price of electricity in the electricity market was very low and the supply was stable, which is also one of the reasons why it can attract miners everywhere. In September 2017, US President Donald Trump signed and promulgated the latest travel ban, and Iran was on his list. The economic sanctions imposed by the United States and other countries on Iran have always existed, which has caused its economic development to face difficulties in recent years, and it has been plagued by problems such as inflation and currency devaluation. According to reports, Iran’s inflation rates in 2018 and 2019 were 34.6% and 36.5%, respectively. Therefore, alternatives to fiat currencies such as the U.S. dollar are very attractive to Iran's authority, and the Iranian people also hope that there will be another store of value to fight inflation. According to the Cambridge Computing Power Map, before Iran’s ban, Iran accounted for 4.64% of the global Bitcoin mining power, which allowed the Iranian government to earn hundreds of millions of dollars from cryptocurrencies, which could be used to ease the US economy. The impact of sanctions. According to people familiar with the matter, even if the ban is over, it will not be easy for mines to restore their previous profitability, because Iran has put forward harsh new regulations: not only the electricity price will be increased sharply, but also all legal mining companies are required to deposit a one-time deposit. Electricity bill for 6 months. In addition, the electric power department requires that the mines must pre-store the electricity bills before September 7, otherwise the electricity will not be able to be normally powered on on September 22. It is estimated that the electricity price after mining resumes will reach 0.55 yuan per kilowatt-hour. If the relevant policies on electricity tariff regulation are officially promulgated, plus the recovery of mining but the total amount of power generation has not increased, it is still unclear whether the electricity consumption is stable, plus tax and mine operating costs, it is for those who are fancy low electricity prices and loose For miners who want to move to Iran, Iran may no longer be the best choice. |
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