Why is Bitcoin Still Not Adopted on a Large Scale?
Bitcoin has been around for about8 years now. Introduced in the year 2008 by Satoshi Nakamoto, Bitcoin is a decentralized peer-to-peer digital currency that can be transferred from one person to another without involving any banks or financial institutions. In order to transact with bitcoins all you need is a basic phone. This has made Bitcoin an attractive option for providing mobile banking services to the unbanked in developing and third-world countries where the number of unbanked adults exceeds 2.5 billion. Even though Bitcoin has numerous advantages over conventional fiat currencies....
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The U.S. Department of the Treasury does not see that cryptocurrency could be used in a large-scale way to evade sanctions. “Its share as a medium for illicit finance is not anywhere as large as just using cash,” a senior Treasury official noted.
Treasury Department’s View on Crypto Use to Evade Sanctions
Nellie Liang, Treasury undersecretary for domestic finance, talked about the potential use of cryptocurrency as a tool to evade sanctions for Russia Friday in an interview with Reuters.
The senior Treasury official explained that the crypto....
Genesis Mining, one of the largest bitcoin mining companies around, recently updated its web interface to give bitcoin miners better control over their digital currencies. The company is now offering Genesis Hive, which was previously intended for internal use, to large-scale bitcoin miners. The price at which this service is offered depends on the number of mining units connected to the service each month. This service is also expected to be made available to smaller scale bitcoin miners later on. Bitcoin Miners Operations. "While this has improved efficiency it has also lead to new....
As a project in Northern Sweden shows, Bitcoin’s reliance on energy consumption could bring a more sustainable future. The post How Large-Scale Bitcoin Mining Is Driving Clean Energy Innovation appeared first on Bitcoin Magazine.
PRESS RELEASE. Curtis Sword, a 3D NFT ARPG mobile game on the blockchain, is excited to announce that it has fully launched on both Android and iOS. The project is the first GameFi-built game designed by the original “The Rise of Dragon” mobile game team. The game is the first large-scale 3D ARPG on the blockchain.
Players can now explore fun blockchain games, interactive social networks, and a wide range of products and services with complete autonomy. Curtis Sword also offers union members a brand new opportunity to discover their self-worth and dedicate....
The Iron Titanium token (TITAN) value has quaked a great deal after the project suffered from what the team called “the world’s first large-scale crypto bank run.” After touching a high of $64 per token on Wednesday, the project slid to near zero and remained worthless on Thursday afternoon. Iron Finance Claims Project Suffered from a ‘Bank Run’ The world of decentralized finance (defi) is exciting but it also comes with major risks stemming from smart contract exploits, flash loans, and alleged bank runs. That was the case for the Iron Finance project, as the....