cryptocurrency

Bitcoin, Ethereum, Dogecoin price drops with China power chops

Bitcoin, Ethereum, Dogecoin price drops with China power chops

Chinese government officials cut power to cryptocurrency mining operations on Monday morning, resulting to an immediate drop in price for the coin and related cryptocurrency. This is the latest in a line of similar targeted operations in China aimed at cutting down on mining operations throughout the country here in the year 2021. Officials suggested this year that cracking down on crypto mining is aimed at bringing the country closer to environmental goals as a significant amount of the energy used was (and continues to be) generated by coal power stations.

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Crucial SSDs used for Chia cryptomining no longer void warranty

Crucial SSDs used for Chia cryptomining no longer void warranty

Cryptocurrencies have not only changed the way some see and exchange money, it has also changed how some companies make and sell computer components. By moving money to the purely digital realm, cryptocurrencies have also shifted the burden of "making" to computer hardware. CPUs and GPUs are the prime targets, but now even SSDs are also fair game. The latter, however, might be on the losing end of the wear and tear battle, forcing SSD makers to make changes to their warranty policies, sometimes in questionable and bewildering ways like what Micron's Crucial consumer SSD brand almost did.

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El Salvador’s audacious volcanic Bitcoin mining has the IMF on alert

El Salvador’s audacious volcanic Bitcoin mining has the IMF on alert

El Salvador plans to use volcanic power to mine Bitcoin, the latest unexpected twist as the country makes the cryptocurrency a parallel legal tender. While El Salvador will continue to use the US dollar, as it has since 2001, it will also accept Bitcoin at the same time, a move which had frustrated environmentalists concerned about the energy requirements to mine the virtual coins.

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Justice Department recovers 63 bitcoins paid in Colonial Pipeline ransom

Justice Department recovers 63 bitcoins paid in Colonial Pipeline ransom

The US Department of Justice has announced that it recovered more than 63 bitcoins that Colonial Pipeline had paid as part of a ransomware attack. The bitcoins are currently worth around $2.3 million, though they don't represent the full sum the pipeline company paid to the hackers behind the cyberattack.

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Square Bitcoin hardware wallet floated by Jack Dorsey

Square Bitcoin hardware wallet floated by Jack Dorsey

Jack Dorsey revealed that Square was considering creating a Bitcoin hardware wallet this week. He suggested that "if we do it", they'll build it "in the open, from software to hardware design, and in collaboration with the community." Jack suggested that if they do it, they'll do it with principals like "bitcoin is for everyone" and "no keys, no cheese."

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PayPal and Venmo are getting third-party crypto wallet support

PayPal and Venmo are getting third-party crypto wallet support

PayPal and Venmo, two popular financial apps, will soon allow users to send their cryptocurrency assets to a third-party wallet, eliminating the need to hold the digital coins on either platform. This is a more secure option for people who may have a considerable amount of cryptocurrencies, though others who prefer the convenience can leave the coins on their PayPal or Venmo accounts.

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Cryptocurrency had a dire weekend: Here’s why

Cryptocurrency had a dire weekend: Here’s why

Cryptocurrency saw increased volatility this past weekend, with big tumbles for bitcoin and others as China threatens a heavy-handed approach to digital coins. The warnings came shortly after the US Treasury Department said it was pushing for new regulations that would force new IRS disclosures around crypto transactions.

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Warhol NFT auction opens Pandora’s Box on “original art”

Warhol NFT auction opens Pandora’s Box on “original art”

Christies is set to auction several Andy Warhol digital works of art on the NFT blockchain. This would at first seem like the perfect opportunity to demonstrate how an NFT could be used to buy and sell art that would otherwise seem ephemeral. There's just one problem: The files described by the auction are not the originals they profess to be - they couldn't be.

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Crypto clampdown sees US Treasury demand tougher IRS reporting rules

Crypto clampdown sees US Treasury demand tougher IRS reporting rules

The US Treasury is clamping down on cryptocurrency, proposing new rules meaning transfers of $10,000 or more of bitcoin, Ethereum, or other virtual currencies would need to be reported to the IRS. The extra regulation comes as the Treasury Department highlighted crypto's potential use in illegal activity, such as tax evasion, which it predicts could increase in coming years.

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Bitcoin briefly dropped to $30k as crypto market chaos continues

Bitcoin briefly dropped to $30k as crypto market chaos continues

The cryptocurrency market has been in a freefall in the days following Elon Musk's announcement that Tesla would no longer accept Bitcoin as a payment option for cars. Bitcoin, still the most valuable and popular cryptocurrency, briefly dropped to a low of just over $30,000 today before rebounding to around $39,000/coin.

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Coinbase outages hit as crypto plummets: BTC, ETH & DOGE down

Coinbase outages hit as crypto plummets: BTC, ETH & DOGE down

Bitcoin, Ethereum, DOGE, and other cryptocurrencies are plummeting today, which means it's not a great time for popular trading platform Coinbase to be encountering issues. The company - which bills itself as "the easiest place to buy and sell crypto" - is experiencing problems today, which appear to be limiting users' ability to trade.

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Sotheby’s first NFT auction revealed

Sotheby’s first NFT auction revealed

An art auction is set to take place in June of 2021 called "Natively Digital: A Curated NFT Sale." This sale will be hosted by Sotheby's, and it'll take place entirely online. Sotheby's started their description of this sale with the following: "NFTs will be considered one of the groundbreaking artistic breakthroughs of the century."

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