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 come onto the network, then the difficulty of solving each block needs to increase to...Continue Reading
Consensus Recap Day-3 & 4 Learn what we have for Consensus Recap 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...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
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 mining energy, White House’s Energy team is drafting a report on energy consumption....Continue Reading
Federal Reserve’s Impact on Cryptocurrency Markets Starting June 1, the Federal Reserve 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
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