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Elon Musk Response After Tesla Sold $272 Million Worth of BTC: “I Never Sold Bitcoin I Own”

Jakkk
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Elon Musk Response After Tesla Sold $272 Million Worth of BTC: “I Never Sold Bitcoin I Own”

Tesla and SpaceX CEO Elon Musk said that he has never sold his personal Bitcoin. Elon Musk’s statement came after Tesla sold $272 million worth of Bitcoin.

Tesla announced in its first quarter report that the company earned $272 million from “selling digital assets”. In February, the company announced that it bought $1.5 billion of BTC from Coinbase, in a document submitted to the SEC.


Earlier Tesla and SpaceX CEO Elon Musk announced that Tesla-branded vehicles can be purchased directly with Bitcoin.

Elon Response To Pump and Dump Comment

Famous investor Dave Portnoy made a pump & dump comment on Elon Musk after learning that Tesla was selling Bitcoin.

Portnoy said:

Do I understand the situation correctly? First Elon Musk buy Bitcoin, pumps up the PRICE and then he dump Bicoin to makes a fortune.

Elon Replied:

No, you do not.  I’ve never sold my Bitcoin. Tesla sold 10% of it to prove that Bitcoin liquidity could be an alternative to holding cash on the company balance sheet.

 

Bitpay CCO Claims Dogecoin Is Eating Away Bitcoin Dominance In Crypto Payments

Mark Brennan
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Bitpay CCO Claims Dogecoin Is Eating Away Bitcoin Dominance In Crypto Payments

According to BitPay commercial director Sonny Singh, Dogecoin is eating Bitcoin dominance in cryptocurrency payments.

Sonny Singh claims that BitPay process more than a billion dollars a year, which proves that people are really willing to spend cryptocurrency.


As of last week, the Doge coin was responsible for 10 percent of all transactions processed by BitPay.

Believe it or not, we are now seeing a lot more purchases from Dogecoin.

Mark Cuban’s basketball team, Dallas Mavericks started accepting Dogecoin in early March. Last week, Newegg An Online Retail Giant Started Accepting Dogecoin As Payment Method.

WeWork and World’s Largest Electronic Music Store Beatport start accepting Bitcoin, Ethereum, and other cryptocurrencies earlier this month.

Singh told that Bitcoin total share of crypto payment on Bitpay fell to an all-time low of 50 percent. Singh says Bitcoin is mostly seen as an investment assets, while alternative cryptocurrencies are used for payments.

In addition to Dogecoin, stablecoins are also becoming extremely popular with BitPay merchants.

Cardano CEO: Cardano Is 1.6 Million Times More Energy Efficient Than Bitcoin

Albert Brown
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Cardano CEO: Cardano Is 1.6 Million Times More Energy Efficient Than Bitcoin

IOHK CEO Charles Hoskinson in a recent interview with Forbes spoke about Cardano’s eco-friendliness, claiming that the Cardano blockchain is 1.6 million times more energy efficient than Bitcoin. Hoskinson comment show the advantages of Proof of Stake over Proof of work.

The primary difference between proof of work and proof of stake is that first stage—the picking of somebody to be in charge. With a proof of work system, it’s a meritocratic MINING process; basically, you’re mining hashes, and those are like lottery tickets. You just keep going until you hit the lucky numbers. Then you say, “I have a golden ticket.” And that gives you the right to make a block. The higher the value of the asset, the more competition you get, the more energy expenditure.

He Added:

The advantage of proof of stake is that you dont need expensive equipment and lot of energy to decide who will mine the Block. Avoiding extreme mining competition can save lot of energy and help environment.

Hoskinson, is not the only personality that targets Bitcoin’s energy consumption. As reported by TheCryptoBasic Recently on Earth Day Ripple co-founder Chris Larsen urges Bitcoin miners, and core developers to consider abandoning the Proof-of-Work consensus mechanism. Chris Larsen urges to work people who create and contribute to the Bitcoin code, key miners, exchanges, and core developers-to consider opting out of PoW. He praised Ethereum for its decision to switch to Proof-of-Stake.

Bitcoin lovers were quick to dismiss comments about Bitcoin’s carbon emissions. A study conducted jointly by Square and Ark Invest shows that BTC can actually accelerate the adoption of green energy, and profit mining will make it affordable.

Internal Testing Of Upcoming ASUS CMP 40HX Graphics Card Shows Higher Hashrate From 36 MH/s-Launching Price $699

Mark Brennan
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Internal Testing Of Upcoming ASUS CMP 40HX Graphics Card Shows Higher Hashrate From 36 MH/s-Launching Price $699

The second-best performance chip for mining Nvidia CMP 40HX demonstrated a high hashrate during internal testing, Reported by VideoCardz.

According to the screenshot the CMP 40HX graphics card from ASUS will offer up to 43.77 MH/s, up from 36 MH/s officially announced by NVIDIA.


A farm of eight video cards produced by Nvidia’s AIB partner ASUSTeK Computer. The maximum hashrate of a single device when mining Ethereum was 43.77 MH/s instead of the 36 MH/s claimed by the manufacturer.

The CMP 40HX is based on a stripped-down Nvidia TU106-100 GPU. The device is equipped with 8 GB of GDDR6 memory with a 256-bit bus. The rated TDP level is 185 watts.

For higher performance, the tester optimized the power consumption of the graphics cards and adjusted the memory clock frequency.

Internal testing of the upcoming ASUS CMP 40HX graphics card from NVIDIA.

According to the source, the Nvidia CMP 40HX chip will cost miners $699. Delivery of the device was originally planned for March, but it is still at the testing stage.

Nvidia crypto mining processor

Recall that Nvidia has released a line of CMP (Cryptocurrency Mining Processor) chips to meet the demand for GPUs from miners.

The first photos of the younger model from the Gigabyte CMP 30HX series were published in March. Its hashrate for mining Ethereum was 26 MH/s.

6 Exciting Altcoin News To Follow This Week

Mark Brennan
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6 Exciting Altcoin News To Follow This Week

The crypto market fell more than 10% last week, but entered this week with a positive momentum. According to CoinGecko, the total value of the crypto market has increased by 8.1% in 24 hours, and is over $2 trillion.

Bitcoin leads the market with a positive start, rising above $50,000 again. According to CoinGecko Bitcoin dominance has slightly increased to 51.49%.

The six altcoin with exciting news this week are: Cardano, Solana, Elrond Network, Chiliz, Qtum and My Neighbor Alice plus other major altcoin updates in Top 100.

Cardano (ADA)

News This week: Cardano Africa special on 29 April 2021, 16:30 UTC.

Why To Follow: Cardano will organize a Africa Special program on April 29th. Cardano founder Charles Hoskinson said that on Africa Special they will celebrate the great work they have done so far, and will continue to do. You can attend the Special Africa program, which IOHK Foundation announced to be a very special event, by registering on https://africa.cardano.org.

Solana (SOL)

News This Week: “Solana Season” coming on April 28th.

Why To Follow: Solana team announced Solana Seasons on April 22, without giving any kind of details that what Solana Season will be. That created a lot of interest about Solana Seasons as crypto community is anxiously waiting to know details about Solana Season.

For more Visit: https://solana.com/solanaszn

Elrond (EGLD)

News This Week: Automated market maker (AMM) called Maiar Exchange, built on Elrond infrastructure, will go live on 30 April.

Why To Follow: Maiar Exchange token called MEX will be given to EGLD holders. EGLD holders were able to stake EGDL coin since April 19 to receive MEX tokens. Distributions of MEX coin is expected to begin in the first half of May.

Read More: https://elrond.com/blog/maiar-exchange/

Elrond (EGLD)

  • 28 Apr 2021
  • Mainnet Upgrade
  • “Tokens have been deployed, Activation April 28 ~14:30 UTC Elrond Standard Digital Token model activates token minting.”

Source: https://github.com/ElrondNetwork/elrond-go/releases/tag/v1.1.50

Chiliz (CHZ)

News This Week: Socios.com will Introduce the latest football teams to be officially Tokenized this April.

Why To Follow: Chiliz holders will be able to purchase the fan token for Göztepe on April 27, and Universidad de Chile’s token On April 28.

Chiliz (CHZ)

  • 30 Apr 2021 (or earlier)
  • “Strategic Partnerships, New teams/sports, Gamification Launch, New countries, Fan Token Offerings (FTOs), NFT strategy deployed, during April”
  • “Strategic partnerships during April”.

 

Qtum (QTUM)

News This Week: Hard Fork Launch

Why to follow: There is currently an average of 128 seconds of gap between blocks in Qtum. This number will be reduced to 32 seconds after the hard fork. In addition, the algorithm used for difficulty adjustment and block rewards will be updated.

Qtum (QTUM)

  • 30 Apr 2021
  • New Version Fork
  • “New version massive upgrade to Qtum node, 32 second blocks better for DeFi and small stakers, EVM update, much more, hard fork April 30th.”

 

My Neighbor Alice (ALICE)

News This Week: The very first My Neighbor Alice land sale.

Why to follow: The first plots to go on sale will be on the beautiful island of Nature’s Rest on April 27th. You need to stake your ALICE tokens to be one of the lucky few to be the first land owners on Nature’s Rest as their is very high community interest in My Neighbor Alice land sale. The plots in My Neighbor Alice function as NFTs so it is possible to buy and sell them both in the game and on NFT exchanges.

Read More: https://myneighboralice.medium.com/announcing-the-very-first-my-neighbor-alice-land-sale-6550c8a4a3a2

Other Altcoin Updates (Top 100)

Fei Protocol (FEI)

  • 26 Apr 2021
  • On-chain Voting Proposal
  • “The DAO proposal for on-chain voting will be submitted at 12 PT on Monday, April 26”

Source:

IOTA (MIOTA)

  • 28 Apr 2021
  • Network Update
  • “The network upgrade itself will officially happen on Wednesday, April 28th, 2021.”

Source: https://blog.iota.org/chrysalis-network-migration-release-date/

Helium (HNT)

  • 29 Apr 2021
  • Datacake Integration
  • “The Uplink: Announcing the Datacake Integration on Helium Console, See the Helium Console integration live in action”

Source:

Flow (FLOW)

  • 29 Apr 2021
  • Versus Auction
  • “We’re excited to welcome Flow Versus to our ecosystem”

Source: https://www.onflow.org/post/partner-spotlight-versus

Hedera Hashgraph (HBAR)

  • 29 Apr 2021
  • V0.13.1 Release

  • “Scheduled (Apr 29, 2021, 18:00 UTC): Hedera will be upgrading the Testnet to v0.13.1 to enable Schedule Transactions.”

Source:

 

 

The Graph (GRT)

  • 30 Apr 2021 (or earlier)
  • Subgraphs Migration
  • “The 1st subgraphs will begin migrating to mainnet next month!”

Source:

ICON (ICX)

  • 30 Apr 2021 (or earlier)
  • ICON 2.0 Alphanet
  • “Although the timeline and details could be subject to change, we are trying to push it out to launch the alphanet in mid-April.”

Source:

 

Avalanche (AVAX)

  • 30 Apr 2021 (or earlier)
  • OIN Finance Integration
  • “OIN Finance, a stablecoin and staking derivatives issuance platform, is integrating its OINDAO platform with Avalanche.”

Source: https://medium.com/avalancheavax/oin-finance-to-enable-defi-users-to-mint-stablecoins-using-avax-b4f9570c6b49

Dash (DASH)

  • 30 Apr 2021 (or earlier)
  • Platform Release
  • “Observers can expect the next platform release to occur roughly 6 weeks from now around mid to late April.”

Source: https://blog.dash.org/release-announcement-dash-platform-v0-18-on-testnet-45f421a6bc98

 

Paypal CEO Dan Schulman: Demand For Crypto Is Greater Than What We Expected

Albert Brown
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Paypal CEO Dan Schulman: Demand For Crypto Is Greater Than What We Expected

PayPal CEO Dan Schulman said the demand for cryptocurrencies is several times greater than what we expected. The CEO believes the use of cash will be significantly reduced in the future.


Dan Schulman said in an interview with Time magazine that ten years from now, cash usage would see a tremendous decline, Stating that all payment tools such as credit cards will be eliminated.

The CEO thinks that there will be a much decrease in the use of paper money. Central banks will understand that, and they will not issue paper money as digital currencies will replace the current payment system.

Referring to the difference between cryptocurrencies and CBDCs, Dan Schulman thinks that CBDCs are just digitalized versions of fiat currencies such as the US dollar.

PayPal CEO stated that they have been looking at digital money and distributed ledger technology (DLT) for about six years.

At that time, I thought CRYPTOCURRENCIES were an asset rather than a currency. What we wanted to do was make sure CRYPTO became a little more mainstream. So we could work with regulators before we put anything on the market. 

PayPal users can buy/sell cryptocurrencies since October 2020.

PayPal also allow its US users to pay with Bitcoin, Ethereum, Bitcoin Cash, and Litecoin on millions of businesses connected with Paypal. PayPal users can shop using their cryptocurrency at payment points where PayPal is accepted. 

Read More: Paypal Launches Crypto Checkout Service For BTC, ETH, BCH, And LTC

New Stock Tokens Microstrategy (MSTR), Apple (AAPL) and Microsoft (MSFT) on Binance

Mark Brennan
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New Stock Tokens Microstrategy (MSTR), Apple (AAPL) and Microsoft (MSFT) on Binance

Cryptocurrency exchange Binance has announced the listing of tokens backed by a real shares of Microstrategy, Apple and Microsoft.


Users can access these investment products paired with the BUSD stablecoin in a traditional trading session.

The exchange will launch Microstrategy (MSTR) trading on April 26, and Apple (AAPL) and Microsoft (MSFT) on April 28 and 30, respectively.

The new products are not available to residents of mainland China, the United States, Turkey, and some other jurisdictions.

Previously Binance launched a listing of tokenized shares (Stock tokens) of Tesla and Coinbase.

Microstrategy (MSTR), Apple (AAPL) and Microsoft (MSFT) Stock Tokens will be made available on Binance.com, with listing schedule as below:
  • Microstrategy (MSTR/BUSD) at 2021-04-26 1:30 PM (UTC)
  • Apple (AAPL/BUSD) at 2021-04-28 1:30 PM (UTC)
  • Microsoft (MSFT/BUSD) at 2021-04-30 1:30 PM (UTC)

Source

 

According To ETH Developer Tim Beiko London Aim For A Mid-July Mainnet Deployment Of 1559, 3198, 3238

Mark Brennan
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According To ETH Developer Tim Beiko London Aim For A Mid-July Mainnet Deployment Of 1559, 3198, 3238

Ethereum developers announced that Ethereum Improvement Proposal 1559 could be implemented with a fork on July 14th.

Ethereum performed Berlin fork last week, now turn its eyes to London. 14 July was pointed out for Mainnet.

Ethereum developers held a meeting yesterday to discuss the London fork. According to Tim Beiko, update could go live on July 14.


He Explained:

“There were four specific EIPs we were considering alongside the already included ones (1559, 3198, 3238) for London: EIP-2537, EIP-2677, EIP-3403, and EIP-3074.

EIP-2677 was the simplest: small change, but no one strongly in favor and, given it would add testing overhead, we’re not adding it to London.

Then, we discussed EIP-3403. The EIP proposes to remove refunds from SSTORE and SELFDESTRUCT, except in a handful of cases. Because refunds can increase block gas consumption, and 1559 does too, limiting them in London was brought up as a security concern previously.

The challenge with 3403 lies in the except in a handful of cases: adding such logic to clients increases code complexity and is prone to bugs. OTOH, completely disabling refunds would be a very large breaking change, and was already rejected (EIP-3298).

So, VitalikButerin and MHswende have been working on a new proposal, which would lower gas refunds from SSTORE from 15k to 4.8k gas, remove SELFDESTRUCT refunds and lower the maximum extra execution from refunds from 1/2 to 1/5th of the block.

This proposal would achieve the goal of reducing block elasticity, disincentivizing things like gas token, and reduce implementation complexity relative to 3403. The EIP was discussed in more detail on the call, but should be formally created early next week.

Everyone on the call seemed favorable to the idea, but given there is no actual EIP to look at yet, clients will review it over the next week and we will make a decision about this on next Friday’s call.

Next up, we discussed EIP-2537, the BLS precompile. The champion asked what clients would like to see to include it in London, and there were two potential concerns: first, the desire to move to a new library, which would require more testing, and second, some gas price changes.

Keep London lean, and aim for a mid-July mainnet deployment. Only 1559, 3198, 3238 and the to-be-created refund EIP.

Keep working on the Merge in parallel to London and aim to ship it ASAP. When London is done, start working on another small feature fork, Shanghai.

Shanghai should really be “only the things that we wanted in London but couldn’t make it”. If it is ready before the Merge, we ship it first. If the Merge is ready before, everyone is OK delaying Shanghai (and doing the extra technical work to adapt it) to after the merge.

So, to summarize, we’re looking at mid-July for London, and the fork will contain EIPs 1559, 3198 (BASEFEE opcode), 3238 (Ice Age pushback), and very likely a to-be-created EIP addressing the refunds issue which we’ll discuss next call.”

Source: https://twitter.com/TimBeiko/status/1385614558883041284

This Guy Became A Dogecoin Millionaire 

Jakkk
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This Guy Became A Dogecoin Millionaire 

Glauber Contessoto says that on April 15, he became a dogecoin millionaire.

“I stayed up all night time taking a look at my display,” Contessoto, 33, tells CNBC.


After watching Dogecoin on Reddit, Contessoto says that on February 5, he invested greater than $180,000 in dogecoin, when dogecoin was about 4.5 cents.

Contessoto was intrigued by dogecoin for a number of reasons.

First, Reddit community surrounding Doge has grown considerably over years, and it is most royal community any coin can have.

And like many dogecoin holders:

“I put my financial savings into dogecoin is due to Elon Musk,”

Who has repeatedly tweeted concerning Doge Contessoto says.

 

Contessoto is very optimistic about Dogecoin and think it may assist him create wealth.

“I grew up very poor,” he says, ” so this is essential to me.”

Contessoto (who works for a music firm in Los Angeles) says he did not have the disposable earnings to purchase dogecoin, so he took an enormous risk.

His mates criticized about Dogecoin and warned him to watch out.

Dude, this is a pump-and-Dump scheme, Ultimately, it will drop to zero.

But Contessoto never doubted DOgecoin and as a result his funding in dogcoin had grown to greater than $1 million.

“I was thrilled. I was new to Reddit, so I was excited to made a post ” he says.

The following day, Contessoto posted a message on the r/dogecoin subreddit below his username iUsedToCallDogeDodge. He texted:

“Hello guys, I became a dogecoin millionaire,”

and posted a screenshot of his dogecoin assets on Robinhood showing a balance of $1,081,441. 29.

Hey guys I just became a Dogecoin millionaire ???? from dogecoin

The post went viral getting above 70k upvotes.

“It went viral,” he says.

“My plan is as soon as I make $ 10 million, I will withdraw 10%, and keep the rest in Doge as In my opinion, Dogecoin will keep on growing.”

Grayscale Bitcoin Trust (GBTC) Premium Fell To -18.92% For The First Time Ever

Albert Brown
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Grayscale Bitcoin Trust (GBTC) Premium Fell To -18.92% For The First Time Ever

Grayscale Bitcoin Trust (GBTC), which is trading at a negative premium for two months, hits a record low.

That means the market price of GBTC shares is about 19% lower than its net asset value or NAV.

A negative premium means the investor expects nothing in return for investing in that product.

Grayscale Bitcoin Trust (GBTC) Premium Fell To -18.92%


The reasons behind negative Grayscale Bitcoin Trust were to temporarily suspend deposits in GBTC, other competitive products like Canadian Bitcoin ETFs, and large investors selling their BTC holdings.

In April, one of the holders of shares in the Grayscale Bitcoin Trust, the investment firm Marlton, wrote an open letter to the management of Grayscale, calling to open the opportunity to invest in GBTC.

Arcane Research pointed the emergence of alternative instruments like launch of Bitcoin ETF’s, and the purchase of the BTC directly by individual companies as reasons for the discount.

Recently, the Canadian regulator approved a exchange-traded fund (ETF) based on the BTC available to investors in US dollars. A similar instrument was also listed in Brazil.

In the spring of 2021, the U.S. Securities and Exchange Commission (SEC) began reviewing two applications to launch ETFs from WisdomTree and VanEck.

Recall that Grayscale plans to convert GBTC into an exchange-traded fund (ETF). In March, the company posted nine vacancies related to this initiative.

Market experts believe that converting GBTC into a Bitcoin ETF is the best alternative for Grayscale.

Grayscale recently announced that it is fully committed in changing GBTC into a Bitcoin ETF.

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