This morning, I read a lot of interesting news from the world of cryptocurrencies. While drinking coffee, I think and find out how miners are committed to the use of renewable energy sources.
Crypto-miners are saving Ukraine
Ukraine is struggling with several major problems. I do not mean the political crisis regarding the border with Russia. Namely, their nuclear power plants produce electricity but lose hundreds of millions of dollars due to inefficient use of surpluses.
There are few industries, such as bitcoin mining, that can actually take full advantage of fluctuations and sudden jumps in electricity production. Moreover, the ability of modern mining equipment to turn on almost immediately when a surplus appears on the grid helps not only to avoid losses, but also to protect other grid users, especially large consumers. Behind the proposal to include crypto-miners in the solution of the Ukrainian problem is their Minister Olha Buslavec, who advocates that large farms be opened near nuclear power plants. Similar operations exist in other parts of the world where surplus electricity can be used, such as mining plants in South America or around Chinese coal-fired power plants.
Crypto-miners promote renewable energy sources
Cryptocurrency mining can be a great stimulus in action to increase the use of renewable energy sources. One of the champions in eco-mining could be Gryphon Digital Mining.
They appeared almost out of nowhere, last year. In light of the rising price of bitcoin, interest in mining is increasing, and the use of renewable energy sources is especially in focus after increasingly frequent attacks on crypto-miners and accusations that they use too much electricity, pollute the planet and so on. Gryphon emerges from the shadows as the first mining company to be one hundred percent committed to renewable energy. Sure, many mining processes use part of their energy from renewable sources, but Gryphon agrees to all or nothing. That commitment turned out to be a good “selling point,” as the Gryphon team managed to raise $ 14 million in investments in environmentally friendly mining.
My favorite news is about NFT and artists
NFT helps artists from Nigeria
The most wonderful thing that came out of the craze for digital art is democracy and globalization. Artists from countries that would not otherwise be the focus of interest are given the opportunity to have their works noticed around the world.
Of course, for any art collector, the most important thing is to be noticed. NFT art benefits most those already known and sought after, such as the Beeple. But being lucky is often a prerequisite for success, but only after all other conditions have been met. That is how he noticed the drawing of the young Nigerian artist, no less and no more, than Charles Hoskinson. He helped her find her work on NFT and sell it at auction for $ 6,300. In March, Oyindamola Oyekemi Oyewumi, a 24-year-old Nigerian artist who creates portraits using ballpoint pens, tweeted her drawing of Ethereum co-founder Charles Hoskinson.
Hoskinson noticed the tweet and put it up for sale as a non-fungible token (NFT), or one-of-a-kind digital item with its own digital signature. By the end of the month, the tweet sold for $ 6,300 and now it’s Hoskinson’s Twitter profile picture.Nigeria, like many African countries, has a great need for cryptocurrencies, so the young population is aware of the trends. Nigerian artists are still adapting it, facing problems with the price of "forging", and a naive performance when it comes to inflating the prices of their works. Still, wonderful things happen…
One of the news that caused concern is the ban on cryptocurrencies in Turkey!
The Central Bank of Turkey has decided to ban the use of cryptocurrencies and crypto assets to buy goods and services, citing potentially "irreparable" damage and significant risks from such transactions, and the measure has "cooled" bitcoin prices in global markets.
In a decree published in Turkey's Official Gazette on Friday, the Central Bank said cryptocurrencies and other digital assets could not be used directly or indirectly as a payment instrument.
The decision will take effect on April 30, reports Tanjug, referring to Reuters.
Following the announcement of this decision, bitcoin weakened by almost 3.0 percent.The statement of the Central Bank points out that the security risks refer, among other things, to the "absence of any regulatory and control mechanisms, as well as the central regulatory body".The volume of crypto trading in Turkey reached 218 billion lira ($ 27 billion) in the period from the beginning of February to March 24 this year, compared to just over seven billion lira (725 million euros) in the same period a year earlier.
I believe that Turkey has made the wrong decision.Nowadays,cryptocurrencies are used as a means of payment almost in every country and with such decision they are,and will lose on sales,and thus on profits.