Crypto Guides, Knowledge & Insights

Future of Cryptocurrency Mining — Utopia’s Crypton Ecosystem

Bitcoin (BTC), ethereum (ETH), filecoin (FIL), chia (XCH). These are among the most popular cryptocurrencies that have caught the attention of miners around the world.　　Each has a relatively high barrier to entry, poor sustainability, and questionable utility. What if there were a cryptocurrency that solved all of these issues？ That is exactly the case for the exclusive and fully integrated privacy coin of the Utopia eer-to-peer ecosystem, Crypton (CRP).　　Barriers to entry　　Miners seeking to earn any tangible amount of BTC, ETH, FIL, or XCH are required to make significant investments in hardware, whether that equipment is in the form of application specific integrated circuits (ASICs) for BTC, graphics processing units (GPUs) for ETH, or hard disk drives 9 (HHDs) for FIL or XCH.　　This equipment can cost miners thousands or even millions of dollars to gain any significant foothold in the market. Some equipment, such as the ASICs, is exclusive to a coin or class of coins and has no other purpose or function besides the mining itself.　　Such barriers to entry represent a very high level of risk to prospective miners and with market saturation, may not provide a long-term expectation of profitability.　　Sustainability　　Having high equipment and energy requirements for mining in a

2021-06-17Deep Dive

Clean Bitcoin Mining Solutions Grow Thanks To Ongoing China Crackdown

Chinas crackdown on Bitcoin mining has led to an increase in clean bitcoin mining operations.　　Even though trading of cryptocurrencies has been banned in China since 2017, the country still leads the world in crypto mining rigs. Accounting for nearly 70 percent of mining operations in the world. A number that has always worried the Chinese government.　　With the government shutting down rigs due to environmental concerns, miners are now looking to clean energy solutions for their operations.　　Chinas Pollution Problem　　The pollution problem in China has been a growing one since the 1970s. With the rise of industries, the country has seen a significant increase in pollution over the years. It ranks number 2 in most polluted countries in the world.　　The air in Beijing was at one point being compared to smoking four packs of cigarettes a day. Although this has never been proven.　　China leads the world in terms of Bitcoin mining. With established technology supply chains and extremely cheap electricity, it makes it the perfect location for setting up Bitcoin mining rigs.　　Bitcoin mining involves sophisticated computers solving cryptographic problems to verify each transaction. This process requires a lot of computing power, which requires a lot of energy to run these computers.　　The major

2021-06-17Deep Dive

BoE Governor Advocates Stablecoins but Warns of Crime Risk

The Bank of England (BoE) Governor Andrew Bailey has elaborated on his views towards stablecoins and Central Bank Digital Currencies (CBDCs) at an annual City UK conference.　　While reinforcing supportive comments reported on June 12, when he called CBDCs “one of the most fundamental innovations in the history of central banking,” the governor also warned that digital money opened up avenues of risk.　　“We cannot ignore the risks that digital money is attractive for money launderers and cyber criminals,” he concluded in his speech on June 15.　　Apart from his ending warning, Gov. Bailey‘s speech was largely positive towards digital currency. As reports indicate, the BoE, alongside other central banks across the world, has been debating introducing a digital currency. In the UK’s case, a digital pound.　　That said, neither the BoE nor the British government have made any concrete decisions about having their own CBDC. Chancellor Rishi Sunak first announced the launch of an exploratory task force into the matter back in April.　　“New forms of digital money represent an important source of innovation” he said. “So we must evaluate whether and how they can meet our public interest objectives.”　　Sunak continued by saying “Rather than use commercial bank money as the basis for transactions,

2021-06-17Deep Dive

Money Creation and the Potential Impact on the Value of JAX Coins

At its core, inflation is caused by too much money in circulation compared to aggregate demand in any given economy. A rise in the amount of money in circulation is only necessary when there is an increase in productivity gains at par with the new amount injected into the economy. Similarly, the value of the fiat currency decreases if the aforementioned conditions are not met. For example, if a nation owes its creditors lots of money, it can simply print more money. The original debt is paid off, but the currency received has less value.　　If there is inflation of a fiat currency, it costs more to purchase the same goods and services that could have been bought with less money before inflation. Why？ Before inflation, a fiat currency had more value. In some countries where populations suffer from hyperinflation (e.g. Venezuela, Argentina), people tend to invest in cryptocurrencies such as Bitcoin. However, most well-known cryptocurrencies are highly volatile and are not really fit for day-to-day payments.　　Users then turn to what is known as stablecoins. These cryptocurrencies are pegged, mostly, to the USD. However, most of them are centralized. Worse, people suffering from high inflation still have problems using them since

2021-06-17Deep Dive

Cryptos and the fiat currencies

Cryptos and the fiat currencies　　Cryptocurrencies (which weve commonly come to call Cryptos) are digital currencies which were pioneered by the launch of Bitcoin back in 2009. It was a time when the preceding year 2008 had seen a financial crisis and the world economy had taken a hit. Peoples trust in governments and banks was greatly diminished and that lack of confidence in the established financial systems drove the first cryptocurrency to find its foothold. It still remains a mystery however who the mastermind behind Bitcoin is, as only the pseudonym Satoshi Nakamoto is tied to its birth, unknown to be either an individual or a group.　　The development of the cryptocurrencies was directly tied to the sentiments by the general public that they wanted control over their their own finances and Cryptos offered just that. Without centralised control, people with cryptos are able to make transactions without having to rely on banks since most of them are peer-to-peer currencies. This user autonomy is what makes cryptos an appealing option since there is no need to go through intermediary authorities.　　On the other hand we have the more traditional currencies that can be tangible like the Euro or US dollar and these

2021-06-17Deep Dive

Trading Cryptos or Forex?

Trading Cryptos or Forex？　　Its hard nowadays to look at the news or read an article without coming across something about cryptocurrencies. Despite it being a relatively new market it has drawn a lot of members and attention due to its value growing at an astonishing rate over the last decade. The general sentiment is that cryptos is the future of currencies, just as fiat currencies became digitalised and put into bank cards and enabled online transactions. We may just call it the evolution of finance.　　Since cryptos have gained a lot of value and with Bitcoin leading the front of this crypto revolution organisations have begun to accept it as a method of payment for goods and services. Therefore there has also been an increase in the number of investors and traders. Investors basically buy a cryptocurrency with the outlook that it will increase in value over a period of time regardless of factors acting upon the crypto. Traders on the other hand make money through buying and selling in the fluctuations of the crypto since the one universal characteristic of any currency is that it can never increases or decreases in value indefinitely without a single fluctuation even for a

2021-06-17Deep Dive

Bila Masa Terbaik ‘Top-Up’ Kripto? Ini Jawapan CEO Pantera!

Menurutnya dalam twit terbaru, masa terbaik untuk membeli kripto adalah ketika pasaran di bawah trend　　Ini dibuktikan melalui rekod Bitcoin yang murah, berbanding trendnya pada kadar 20.3% bagi 11 tahun yang lalu.　　Malah, Morehead memberi jaminan yang pulangan bagi tahun ke tahun tidak menunjukkan Bitcoin ‘overvalued’: “Ketika ini ia didagangkan pada 281% tahun ke tahun, yang mana masuk akan kerana pencetakan wang berlaku dalam tempoh tersebut.”　　Tiga faktor yang menyumbang kepada keruntuhan pasaran kripto:　　1/ Sekatan industri kripto di China memainkan peranan sebagai punca utama. Bagaimanapun, ini bukan kali pertama, malah berkali-kali.　　2/ Tax Day di Amerika Syarikat (AS) mendorong pelabur mencairkan pegangan mereka untuk kadar cukai mereka.　　3/ Tidak lain tidak bukan Elon Musk yang secara tiba-tiba mengumumkan keputusan Tesla untuk menangguhkan penggunaan Bitcoin (BTC) pada Mei lalu.　　Bagaimanapun, ini sekadar pandangan CEO Pantera yang melihat situasi ini sebagai satu peluang kepada pelabur untuk menambah portfolio.　　Digalakkan pembaca Intraday untuk membuat kajian terlebih dahulu, DYOR bagi mengelakkan sebarang perkara tidak diingini berlaku yang akhirnya mengundang penyesalan.　　Pasaran kripto menyaksikan keruntuhan nilai pasaran sebanyak 42% daripada ketinggian sepanjang masa (ATH), $2.5 trilion pada pertengahan Mei. Ketika penulisan, rekod menunjukkan nilai pasaran berada di paras $1.6 trilion.

2021-06-17Deep Dive

Michael Saylor Clarifies His Company’s Bitcoin Strategy On US’s National TV

The dedication MicroStrategy‘s CEO puts into Bitcoin raises questions even in the crypto sphere. Imagine how people in the traditional financial world feel. Michael Saylor joined CNBC’s “Fast Money” talk show to discuss his controversial game plan. The hosts asked though questions and the CEO answered them with ease.　　Of course, Saylor started by defining the intangible asset, “The world is waking up to the fact that Bitcoin is digital property on an open monetary network. And that‘s pretty profound because it’s going to spread to billions of people around the planet. Its digital gold on a big tech network.”　　Some people wonder if MicroStrategy abandoned its software business. If the company is now its some kind of Bitcoin ETF. According to the CEO, they have two strategies and one of those is to buy Bitcoin. “MicroStrategy is the first company to do a convertible debt offering to buy Bitcoin. Last week, we became the first company to do a senior secured debt offering to buy Bitcoin.”　　NewsBTC already covered their latest play, and Saylor clarified that they will use the new funds, “either to buy Bitcoin, or to retire debt, or for general corporate purposes.” MicroStrategy wants to have all of its

2021-06-17Deep Dive

Head of South Korean Opposition Party Admits Crypto Trading Experience

Another major political leader has come out as a crypto enthusiast – as the new leader of the biggest South Korean opposition party has admitted to trading tokens “for fun.”　　Lee Jun-seok, aged just 36, stunned the political world last week when he won the leadership election for the post of chair of the People Power Party, becoming the youngest ever leader of the right-wing party. A Harvard graduate in Economics and Computer Science, he is also a tech entrepreneur and the founder of the Edushare startup.　　Known as the “voice of the Millennials” within a party usually dominated by older males, Lee unexpectedly shed light on his crypto trading past.　　Per Edaily, Lee told the host of a news podcast that he had “tried” crypto trading – although he stopped short of revealing the names of the tokens he had traded and how much money he had made from the endeavor.　　Regardless, he was quoted as stating:　　“I made enough money to fund three or four election campaigns by investing in cryptocurrency. But these days [crypto prices] have fallen a lot.”　　And it look likes Lees interest in crypto was not purely recreational, despite his protests that his trading was “for fun.”　　“I used to be

2021-06-17Deep Dive

Billionaire Paul Tudor Compares Bitcoin to Math and Says It’s Great

Paul Tudor has drawn similarities between bitcoin and mathematics as he expressed his confidence in the crypto.　　 The billionaire hedge fund manager made his opinion known in a recent interview with CNBC.　　 He reiterated his confidence in the asset by describing it as a store of wealth and a means to diversify his portfolio.　　 He also commented on the key role that the Federal Reserve will play in the future decisions of investors.　　Bitcoin has gained yet another enthusiast in the form of Paul Tudor after he extolled the virtues of Bitcoin in an interview with CNBC. The American, billionaire hedge fund manager described Bitcoin as being similar to math and further portrayed the asset as being a great mechanism for the store of wealth.　　The interview which was held on Monday, June 14th, saw Tudor hail Bitcoin as a “portfolio diversifier,” amongst other things, and stated that he does not mind allotting 5% of his fortune to bitcoin. The billionaire also spoke of the vital role the Federal Reserve will play in determining the manner he will invest the other 80% of his wealth.　　 Bitcoin and Math: An Uncanny Comparison　　In an interview with CNBC on Monday, June 14th, Paul Tudor

2021-06-17Deep Dive

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