Crypto Guides, Knowledge & Insights

Microsoft Patented Brainwaves Crypto Mining In 2020: Will It Ever Become Real?

So you want to start mining but don‘t have enough money to buy an ASIC or the latest GPU to mine your favorite Proof-of-Work crypto？ Don’t worry, soon you will be able to mine cryptocurrencies with the power of your mind, thanks to Microsoft. And no, its not a late April Fools day joke.　　According to documents from the World Intellectual Property Organization, Microsoft has been working for at least one year to develop a system that harnesses the energy of the human body and uses it to mine cryptocurrencies.　　The Human Body Could be A Natural Crypto Mining Rig　　The patent, called Cryptocurrency System Using Body Activity Data, explains that the human body generates energy that is lost with each natural physical body function. Microsofts idea is to use precisely this energy and put it to productive use (Matrix-style)　　“Instead of massive computation work required by some conventional cryptocurrency systems, data generated based on the body activity of the user can be proof-of-work, and therefore, a user can solve the computationally difficult problem unconsciously.”　　As in the Wachowskis “The Matrix,” the mining process involves the user hooking up a number of sensors to different parts of the body to generate a reward when performing

2021-04-06Deep Dive

Anthony Scaramucci Bullish on Ethereum But Institutional Demand Goes to Bitcoin Only

After expressing a pro-Bitcoin opinion for several consecutive months, SkyBridge Capitals Anthony Scaramucci has outlined the merits of the second-largest cryptocurrency – ETH. Although he admitted that most institutions are still focused only on BTC, he hinted that his company could launch an Ethereum Fund in the future as well.　　Scaramucci Positive on Ethereum　　The former White House Director of Communications has been quite vocal regarding the cryptocurrency space since the end of 2020, when the company he founded in 2005 announced plans to launch a Bitcoin Fund.　　Since then, his public focus headed towards BTC, but during an appearance on the Squawk Box earlier today, Scaramucci received questions on Ethereum and its growing role as the underlying technology behind DeFi and NFTs.　　“I think theres a really big market for Ethereum, and I predict that Ethereum has good fundamentals and it will grow.”　　Furthermore, Scaramucci outlined his bullish stance on ETHs future price developments. He added that the technology around the popular blockchain project is “going to make it a sticky cryptocurrency and a store of value and something people will transact with.”　　Institutions (Still) Aim for Bitcoin　　While Scaramucci believes in ETHs potential to continue growing, he asserted that the demand from institutional investors keeps

2021-04-06Deep Dive

Is Blockchain Ready To Be Used For Defense?

Microsoft has recently signed a deal with the US Defense Department to provide them with 120,000 HoloLenses. The devices are an augmented reality concept, which Microsoft has developed specifically for the army. The contract signed by Microsoft was set at $21.9 billion and will last up to 10 years.　　Blockchain technology has not only disrupted financial systems and centralized entities but has also created new ways to protect information and increase security. Since 2016, blockchain has provided the Department of Homeland Security with heightened security levels. The potential to apply blockchain in defense has also been recognized globally as China and NATO have expressed their views concerning the use of the technology.　　What Problems Is Blockchain Solving？　　Governmental institutions such as the US Defense Department face issues with the trustworthiness of their contractors. Therefore, they demand that all contractors are held accountable for their partners and the supplies that they provide. That prevents bad actors from being directly involved with institutions that are critical for the countrys security. Blockchain technology can increase trustworthiness as it can verify and track the path of contractor components.　　The Defense Department has created protocols that contractors need to meet in order to provide services to the military. In

2021-04-06Deep Dive

Oversupplied NFT Market Sees Interest and Sales Plunge

According to NFTs marketplace tracker Nonfungible.com, there is a noticeable drop in sales over the past 10 days. The number of sales fell from 179,004 on March 27 to 156,055 on April 5. In US dollar terms, there is a 6.9% drop in this same period, from USD 223.5m to 208.2m.　　Other data in the 10-day period shows the following drops:　　active market wallets: -4.45% (49,432 to 47,232)　　unique buyers: -5.64% (39,158 to 36,952)　　unique sellers: -5.14% (20,601 to 19,542)　　primary sales: -4.37% (97,008 to 92,766) and -3.5% in USD terms (USD 64.5m to USD 62.2m)　　secondary sales: -22.8% (81,996 to 63,289) and -8.2% in USD terms (USD 159m to USD 145.9m).　　Per this data, secondary sales suffered the strongest hit.　　Looking at the 30-day data, we see 156,050 sales with USD 208.25m in total and USD 62.22 in primary sales. NBA Top Shot saw a nearly 75% decline in sales over the past month, according to evaluate.market.　　“Theres less volume on the [USD] 500 - [USD] 2000 moments than there was in Jan, which is crazy, considering the user base is probably 5-10x,” argued one TopShot user. “Gives you an idea of the type of ”collector“ currently on the site.”　　Also, per Bloomberg data, average prices for NFTs fell

2021-04-06Deep Dive

JP Morgan: Bitcoin’s Declining Volatility Makes it More Attractive to Institutions

Bitcoin recovered above $57,500 on Monday after it remained well bid above the $56,500 support zone.　　The king coin is now trading well above $58,500 after it surmounted the resistance near $58,250. If BTCUSD falls below $58,250, there could be a downward correction, with the next support on the downside sitting at $57.5K.　　BTCUSD Chart By TradingView　　JP Morgan Sets a $130K Long-Term Price Target for BTC　　In their latest research note, analysts from banking giant JP Morgan argued that BTC‘s declining volatility could boost institutional investors’ adoption.　　Nikolaos Panigirtzoglou, a researcher at JPMorgan, had earlier highlighted volatility in the BTC market as a deterrent for many institutions.　　The bank now says that lower BTC volatility could attract more investment from large organizations but clarified that the $130K theoretical BTC price target should be considered a long-term target. At this price, the flagship crypto would match the total private sector investment in gold.　　“Considering how big the financial investment into gold is, any such crowding out of gold as an alternative currency implies big upside for Bitcoin over the long term,” JPMorgan mentioned in the note.　　Big corporations worldwide have started considering BTC, which boasts a market cap of over $1.08 trillion, as an interesting gold-like asset that

2021-04-06Deep Dive

How Blockchain Can Boost Film Industry As Content Demand Soars

More people are watching films globally than ever before – a trend that has been enunciated by Covid-19 lockdowns but that was in the works well before the pandemic. Despite the increasing demand for content, chances for creators to pitch their films to industry gatekeepers are few and far between. This means there are fewer opportunities for creators, and more talent goes to waste.　　There is a billion-dollar opportunity for businesses to meet growing consumer demand for great and interesting content. Blockchain technology could very well be the key to seizing that chance.　　Demand for content is sky-high　　Especially in the wake of the limitations Covid-19 has imposed on us, content streaming has never been higher. With a current market size of about $50 billion, video streaming is expected to grow an estimated 21% each year for the next seven years. There have also been outsized viewership spikes during lockdowns, with every major streaming platform recording surges in viewership worldwide.　　The tidal wave in streaming was building well before Covid-19, in concert with declining theater attendance. Though this shift is depressing to many film professionals who grew up imagining their ideas playing out on the big screen, the entertainment industry may need to accept

2021-04-06Deep Dive

Is Grayscale Bitcoin Trust’s Demise Inevitable? GBTC Premium Negative for a Consecutive Month

Since February, Grayscale Bitcoin Trust (GBTC) has continued to trade at a negative premium. The Bitcoin fund, available to institutional investors on the traditional stock market, has traded below the price of Bitcoin since February 22, 2021 — a telling sign that its demand was drying up.　　Just four months ago, GBTCs premium was at a whopping 33.12%. Since then, its premium has fallen into a downward spiral, hitting an all-time low of -14.34% on March 25 and currently trading at -9.32%. What‘s surprising is that, in the exact same time period, Bitcoin’s price has appreciated 57% — from $36,850 to $57,891. So what exactly happened？　　ANALYZING WHY PREMIUM CONTINUES TO TRADE AT A DISCOUNT　　Institutional buyers were always the biggest proponent to the fund‘s past success. According to GrayScale’s third quarter report in 2020, 80% of investments in the trust were from institutions. Institutions often leverage their investments, taking out massive loans in the process. For some firms, the goal was for GBTC‘s rising premium to mitigate the loan’s interest rate — which clearly hasnt worked out since late February.　　Its also important to note that Grayscale Bitcoin Trust charges a 2% management fee, requires a 6-month redemption period, and has major price

2021-04-06Deep Dive

Why India’s Proposed Bitcoin Ban Will Be Downright Ineffective

Its been a season of legal ambiguity for the Indian cryptocurrency community, but the road ahead is looking less hazy as the latest development from the Indian Crypto trading scenes implies that the proposed Crypto-ban has done little to dissuade trading and investment interest in independent digital currencies like Bitcoin and Ethereum. Hence, a building possibility that the ban is likely to fail.　　Recently, the largest cryptocurrency exchange in India recorded the highest trading volume the country had ever seen; a whopping $270 million in just 24hours.　　“WazirX crossed $270M in 24 hour trading volume. Thats the highest trading volume by any crypto exchange in India, ever.” The CEO, Nischal Shetty shared on Twitter.　　This is coming not long after the Indian government updated its cryptocurrency rules, to include mandatory disclosure of cryptocurrency holdings from every exchange operating in the country.　　As part of their financial statement, the exchanges involved in trading and other forms of crypto-activities must reveal their entire holdings to the government.　　For investors, this validates their expectations that the ban may not pull through, or be as extreme as insider sources had previously said it would be.　　The CEO of Bitex, another leading crypto-exchange in India noted that the update is a

2021-04-06Deep Dive

Why The Return Of The Kimchi Premium Doesn’t Bode Well For Bitcoin

Bitcoin price is currently trading at a substantial premium on South Korean crypto exchanges – more than $6,000 per coin in USD equivalent. However, in the past this so-called “Kimchi Premium” has signaled the end of the bull trend.　　Is this a sign that things across the crypto market could soon turn bearish？ Or is there something else afoot going on with the US dollar and the South Korean won that is causing the discrepancy？　　Bitcoin FOMO Comes To A Boiling Point In South Korea, According To Price Premium　　Bitcoin is an asset unlike anything else in the world before it. Theres no company involved like stocks; no country like fiat currencies; nor does it have a physical form like a commodity.　　Because the decentralized cryptocurrency technology is controlled by no state actor, the underlying asset could some day become the first non-sovereign global reserve currency.　　The crypto market like these other assets, however, also trades globally, and is subject to deviations in price data depending on how aggressive one regions currency is being exchange to buy up BTC.　　Once again, crypto FOMO has taken hold in the country of South Korea, resulting in the return of something called the “Kimchi Premium.”　　The Kimchi Premium has Bitcoin

2021-04-06Deep Dive

Non-Fungible Token Sales Begin to Dive, NFT Interest Declines, Finance Author Highlights NFT Oversup

Non-fungible token (NFT) assets and collectibles are starting to see sales decline and interest in NFTs is dropping as well. Additionally, its being said that an “oversupply of NFTs” may hurt the market, according to James Surowiecki the author of “The Wisdom of Crowds.”　　In 2021, non-fungible tokens have been all the rage and the industry has grown very popular during the last few months. Throughout March 7 through the 13th, 2021, the term “NFT” searched on Google in the U.S. touched an all-time high reaching 100 on Google Trends (GT). Since then, queries for NFTs have slid in the United States to 92 the week after and 95 during the last week, according to todays GT data.　　Worldwide queries for the term “NFT” on Google went from a score of 100 to 95. The biggest subregion in the world searching for “NFT” on Google stems from China. Uganda, Canada, Singapore, and the U.S. follow respectively.　　Nonfungible.com data for 30-day stats on April 3, 2021.　　The entire term “non-fungible token” according to GT data, shows the score recently dropped from a 100 to an 89.　　The NFT marketplace NBA Top Shot saw a decline in sales and dropped to its lowest percentages so far, according

2021-04-05Deep Dive

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