Cryptocurrency 

What Powers China’s Crypto Mining Industry, and Is It Sustainable?

The cryptocurrency mining industry continues to grow daily, supported by a continuous stream of new and more efficient hardware. China is at the forefront of the industry, but as environmental concerns loom, the sustainability of their success is coming into question. Mining chip manufacturers, the most prolific of which are based in China, work tirelessly to develop ever-more-powerful processors. With each new iteration, these high-capacity chips require more and more energy to operate. Newer mining machines render old ones obsolete, resulting in an increasing flow of electrical waste, the majority…

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Ethereum 

Hopefully We Can Interoperate With China’s Crypto

Ethereum co-founder and founder of Consensys, Joseph Lubin, said that he hopes China’s Central Bank Digital Currency (CBDC) will allow for interoperability with public permissionless blockchains, including Ethereum. Ethereum is “a very positive virus” Lubin made his remarks during an interview with Forbes published on Nov. 9. He explained: “I assume it is going to be exactly what Chinese leadership thinks is most beneficial to Chinese leadership. Hopefully that’s also open and we can interoperate with it, but I don’t know.” Furthermore, Lubin added that he would like to see…

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Bitcoin 

China’s Gold-Backed Crypto Would Be Bearish for Bitcoin

China launching a digital counterpart of the yuan backed by gold puts Bitcoin (BTC) at a disadvantage, veteran gold bug Peter Schiff claims. In a tweet on Nov. 2, Schiff, notorious for his cynicism when it comes to Bitcoin, attempted to counter criticism of his stance by Keiser report host, Max Keiser.  Schiff tells Keiser: gold backing beats BTC “According to @maxkeiser I’m an idiot because I think #gold is better money than #Bitcoin,” he wrote.  Schiff also repeated his oft-quoted idea that Bitcoin has no intrinsic value:  “He also…

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Bitcoin 

EOS Holds Top Spot, Bitcoin 11th in China’s Latest Crypto Rankings

China’s state-backed tech workgroup has released its fourteenth crypto rankings report, with Bitcoin (BTC) ranked 11th and EOS (EOS) retaining the top spot as of the end of September 2019. The listings rank 35 assets in total, as reported on Sep. 29 by the Center for Information and Industry Development (CCID)’s online information portal.  Reshuffles Compared with the last instalment of the rankings this July, Bitcoin has held its position while altcoin Tron has dislodged Ether (ETH) from the second spot. XRP is up from 30th to 20th-ranked asset. CCID…

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Bitcoin 

Bitcoin Madness, Zuckerberg in Congress, China’s Blockchain Plans: Hodler’s Digest, Oct 21–27

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Bitcoin price back over $10,000 following 36% gains on the day The world’s largest cryptocurrency has had us all in for a white-knuckle ride this week. Wednesday saw Bitcoin (BTC) crash $500 in a matter of minutes and sink to $7,500 — a five-month low.…

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