Why Is The Bitcoin Hash Rate So High During This Downturn In Price? Why is The BTC network hash rate still so High? Firstly, an increase in the BTC hash rate means more mining power is being added to the Bitcoin network. Whenever new miners join the network, the mining difficulty increases. This is due to a mechanism implemented on the Bitcoin network which ensures 1 block is mined every 10 minutes. Essentially, if more miners...Continue Reading
Consensus: DAY 3/DAY 4 Day 3 and day 4 was jam packed with some incredible speakers. Jimmy Song & Todd Share We firstly got to see the ultimate Bitcoin Maxi in Jimmy Song discuss all things Bitcoin. He spoke at length on the technical upgrades to Bitcoin, the most recent being the Taproot upgrade, in his infamous cowboy hat! Jimmy Song is a Bitcoin developer, educator and entrepreneur. He’s a programmer with over 20...Continue Reading
Consensus: DAY 1/DAY 2 We arrived in beautiful Austin, Texas, to 40 degree weather, dryness, and a whole heap of flavoursome individuals! We were in Austin to attend Consensus by CoinDesk, since 2015, Consensus has been the central meeting point for those committed to decentralising the world. Curated and produced by CoinDesk, the most powerful and trusted name in crypto journalism, Consensus is the only event showcasing and celebrating all sides of the blockchain. Upon arrival...Continue Reading
U.S. Federal Reserve Begins Serious Quantitative Tightening Starting June 1, the Fed will begin draining that plus $3.3 trillion of bank reserves from its nearly $9 trillion balance sheet to put all of this money in motion — a process it called “quantitative tightening”. Quantitative tightening, also known as balance sheet normalisation, is a type of monetary policy followed by central banks. It simply means that a central bank reduces the pace of reinvestment of proceeds...Continue Reading
The Australian Prudential Regulation Authority Released Roadmap For Digital Assets Policy The Australian Prudential Regulation Authority (APRA) has published a letter to Australian regulatory bodies on Thursday setting out its expectations of risk management, as well as a policy roadmap for the regulation of digital assets through 2025. Chairman Waynes Byres detailed in the letter “while activities associated with crypto assets are still relatively limited in Australia, the potential scale and risks of such activities could...Continue Reading
PART 4: 2022: The Future of Cryptocurrency What we have seen so far in 2022 Entering 2022 and the month of January saw a highly volatile market, continuing the negative trend line, with many of the top cryptocurrencies losing a lot of value. BTC began the year with a $900 billion market capitalisation and a price of $47,600, having been down 5.4% in the week, ETH was at $448 billion market cap with a price of...Continue Reading
White House Seek To Reduce Cryptocurrency Mining Energy Principal Assistant Director for energy for the White House office of science and technology policy, Costa Samara, has detailed that the White House is seeking to introduce policies to lower cryptocurrency mining energy consumption, according to a report from Bloomberg Law. Following President Joe Biden’s executive order in March pressing federal agencies to ensure the “responsible” mining of digital assets such as cryptocurrency, White House’s Energy team is...Continue Reading
Calls For Urgent Regulation In Australia’s Cryptocurrency Markets In a bid to protect Australian consumers from cryptocurrency scams, Choice, an Australian based consumer advocacy group has called on the Labor government to provide action on regulating the cryptocurrency industry. They are specifically calling for centralised exchanges to be subject to the consumer protection obligations as in the financial services sector. Cryptocurrency is growing exponentially in Australia. According to a survey from Choice, the findings found...Continue Reading
Commonwealth Bank Brings Cryptocurrency Trading In-App To A Halt After Serious Market Volatility Australia’s largest bank has decided it will pause its rollout of its app-based trading of digital currencies such as Bitcoin and Ethereum pending further regulation. The multinational corporation has also sought to pause all testing features, preventing any cryptocurrency sales on its app amid the current cryptocurrency market downturn and uncertainty. Following strong demand, Commonwealth Bank in November, 2021, announced that it...Continue Reading
ATO Takes Aim At Cryptocurrency Gains For Tax Time 2022 The Australian Tax Office (ATO) has released its four priorities come tax time at the end of this financial year, honing in on four key focus areas, including record-keeping, work-related expenses, rental property income and deductions, but most importantly, capital gains from cryptocurrency assets, property, and shares. An entire publication on these four priorities for the ATO this tax time can be read here. It has...Continue Reading
LUNA Spectacularly Tanks As UST Fails to Re-Peg TerraUSD (UST), a digital token with a once $16 billion market capitalisation that is designed to maintain a 1:1 peg with the dollar, known as a stablecoin, nosedived over the past 36 hours. Its price fell below $0.65, before somewhat recovering to $0.93 as yesterday before tumbling to as low as $0.59 as of writing. In other words, UST failed dramatically at the one thing that it was supposed...Continue Reading
Trustable, fast response and very kind staff. They helped me a lot to set small farm at home. Highly recommend to everyone wants to get into crypto market. They have big community that spread out news as well.read more
The guys at the mining store where super helpful with all my crazy questions, Ive since bought 4 miners from them and have really enjoyed getting involved in the informative discussions that are on the mining store Discord channel. If your thinking about getting involved in mining this is where its all happening. Keep it up Will and Cal.read more
Will was very helpful and informative. He was patient with the myriad of questions I had and at no point did he apply any pressure on me to purchase the mining rigs they were offering. I wouldn't hesitate to recommend mining store to anyone interested in mining cryptocurrency. Well done guys?read more
For my research on Human-Machine-Network (HMN) I had a general hypotheses to architect and build a machine that is able to interact with me and the next web, Web3. This is when I discovered Mining Store (MS). Will was very prompt and followed up on all the questions for him. I had specific requirements which were a bit advanced for that time, and that is when I was introduced to Cal, who was very generous with his time and did the necessary research and we agreed with a baseline specifications. The duo Will and Cal are truly one of the best gentlemen founders I discovered recently and I would highly recommend anyone who is curious to enter this space to reach out and have a conversation with them. Australia is really lucky to have them and yes the rest of the World is also benefiting heaps from their professionalism and craftsmanship.read more
Great service I would highly recommend to others. The team look after my crypto portfolio/mining rig whilst keeping me updated on a daily basis. Both Cal and Will came to fit my rig and the service was perfect! The team are very knowledgeable and keep me up to date on investment opportunities.read more
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