Paraguay will evaluate future state-run bitcoin mining after launching a pilot program using equipment seized from illegal operators.

The South American country’s initiative puts BTC mining back into focus after “years of tension surrounding the activity. For a time, the country established itself as an attractive destination for miners thanks to cheap electricity and a favorable regulatory environment.”+However, with the massive influx of “illegal installations,” energy theft occurred, and public pressure on the authorities increased. Hence the state’s response to control clandestine operations.

Currently, efforts are underway to repurpose 1,500 of the 30,000 ASIC machines seized, with support from the technology company Morphware and the state-owned electric utility, the National Electricity Administration (ANDE). These entities have established a memorandum of understanding that sets out a framework for cooperation to analyze the plan’s feasibility.

The machines “will be located in facilities controlled by ANDE, specifically near electrical substations to take advantage of the existing infrastructure.”

Although experts indicate that the hardware is very old, the idea is to leverage the country’s energy surplus, known for its low cost and abundance, to power the equipment recovered from illegal operations.

M.Pino

Source: cripto247

(Reference image source: Erling Løken Andersen on Unsplash)

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La entrada Paraguay tests state-run Bitcoin mining apareció primero en Bitfinance.

Although cryptocurrency adoption in Venezuela has declined in the last year, it continues to grow thanks to the opening of the national banking system to the purchase and sale of these assets, consolidating its position as the key channel for this sector.

This was reported on Wednesday, February 11, by Aníbal Garrido, director of the Blockchain, Trading, and Crypto (BT&C) Academy at Andrés Bello Catholic University.

The specialist indicated that “despite the recent foreign currency injections by the Central Bank of Venezuela (BCV) to stabilize the exchange rate, digital currencies maintain a strong presence in the economy.”

Regarding the role of banks before cryptocurrencies, he stated: “The banking sector is a crucial ally. It acts as a ‘railway’ or gateway for cash-in and cash-out transactions. Although banking institutions cannot perform direct exchanges, they allow exchange houses to carry out instant transactions.”

Garrido noted that in Venezuela, the trading of digital assets has a clear legal framework, recalling that the National Superintendency of Cryptoassets and Related Activities (Sunacrip in Spanish) has been the entity responsible for regulating the sector since 2023. “The legality of using cryptocurrencies is established in the 2019 Constituent Decree, and BA VEN-NIF 12 regulates the accounting records of digital assets,” he added.

M.Pino

Source: criptopasion

(Reference image source: Michael Förtsch on Unsplash)

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La entrada Venezuelan banking system is a key platform for cryptocurrencies apareció primero en Bitfinance.

The crypto ecosystem continues to feed on the projections of analysts on the possible value of bitcoin in the first months of 2025.

An expert has launched the idea that the price of BTC in the first months of next year would be $100,000, although he warned of the difficulty of maintaining it above such a figure.

For his part, the businessman, author and expert trader Robert Kiyosaki, has launched his prediction, placing the value of bitcoin at $250,000 next year, but not before indicating: “We have to try to forget what bitcoin was initially and promote it for what it has the potential to become.”

Kiyosaki sees bitcoin as an important resource to “combat the devaluation of fiat currency and navigate the turbulent seas of global economic uncertainty.”

His concern about the weakness of the dollar and financial instability around the world underpins his recommendation to invest in gold or silver and cryptocurrencies.

M.Pino

Source: cripto247

(Reference image source: Shutter Speed on Unsplash)

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La entrada Analysts speculate on the price of bitcoin for early 2025 apareció primero en Bitfinance.

The cryptographic market continues its downward trend, as evidenced by the loss of value of Bitcoin (BTC) this Monday, June 13, when it reached a value of 22,800 dollars, registering “a decline of 67 % from its historical maximum of November 2021, given the prospect of rising inflation and an imminent increase in interest rates by the Fed.”

With the fall in price, the main cryptocurrency registers a deterioration of 14 % in the last 24 hours, which exceeds the 55 % collapse registered last July 2021 when the currency went from 64,698 to 28,900 dollars.

The declining trend of bitcoin impacts the behavior of the market and the prices of other digital currencies, as well as the price of shares. Since the beginning of 2022, the cryptocurrency market capitalization decreased 50.66 % to stand at 963,768 million dollars.

Since February 2021, it is the first time that the value of digital currencies has fallen below a trillion dollars, while the Nasdaq index fell 2.4 % in the last 24 hours.

Bitcoin RSI decreases

The fall in the price of Bitcoin is impacting the indicator of relative strength of Bitcoin (RSI) which is at minimum values. Said indicator “compares the magnitude of profit days against loss days, with the objective of determining if the asset is oversold or overbought.”

Currently, the RSI of Bitcoin is the lowest in the history of the cryptocurrency at 43.7; while the market capitalization of the cryptocurrency decreased 11 % in 24 hours and stood at 450,000 million dollars.

When the value of Bitcoin is analyzed together with the other cryptocurrencies, it is observed that the marked depreciation “has produced a rebound in the dominance of that cryptocurrency, which has increased from 40 % to 47 % so far this year”, which indicates that despite the crisis in the Bitcoin market, it is strengthening against the other altcoins.

Bitcoin has lost 50.7 % of market capitalization in 2022 but the rest of the altcoins have retreated 60 %, according to figures from CoinMarketCap.

M. Rodríguez

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Source: criptonoticias.com

La entrada Bitcoin fell 67% and reached its lowest point in 18 months apareció primero en Bitfinance.

The Telegram bot Lnp2pBot, which allows you to buy and sell satoshis, the smallest measure of Bitcoin, (BTC) immediately, without identification and using the Lightning network, is growing in use and has managed to exchange more than 3 BTC in 20 days.

The lnp2pBot software, developed by the Venezuelan programmer Francisco Calderón, makes it easy to acquire bitcoins or exchange them for fiat money and has allowed the platform to obtain a new commercial record.

The developer announced through the social network Twitter “302,127,905 sats have been exchanged through lnp2pBot, a project inspired by the Bitcoin Lightning Network. (…) More than 3 BTC have changed hands without custody and without KYC from the comfort of Telegram”.

In 20 days, the platform achieved the 3BTC mark. that is, “it took a little over three weeks for 100 million satellites to move in lnp2pBot and add to the 2 BTC that was registered at the beginning of May”, while the first BTC was achieved in the month of March 214 days after the launch of the lnp2pBot.

The bot mobilizes millions of satellites

Francisco Calderón indicated that since the telegram bot was launched “the number of users and orders completed by the system has been increasing”. However, he acknowledges that the bot is currently at “a peak” or high adoption by of the users.

 According to Calderón, the number of people, as well as the large numbers, “play a determining role”, because he demonstrates the “bot’s ability to move millions of satellites”.

It is also important to take into consideration that the Bitcoin Lightning network has increased by 200 % in the last year, facilitating “fast, automatic, cheap exchanges without major limitations.”

M. Rodríguez

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Source: criptoides.com

La entrada The use of the Telegram bot to exchange Bitcoins grows apareció primero en Bitfinance.

The neo-brokerage group Public.com, based in New York, announced that, in the coming days, it will be launching a feature on its platform that will allow its clients to transact with different cryptocurrencies.

The brokerage revealed that through the new function “users will have the possibility of trading and storing crypto assets in the same application used to manage their portfolios of stocks.”

Public.com’s new crypto asset trading service will provide support, in principle, for 10 digital currencies, among which are: Bitcoin (BTC), Ether (ETH) and Dogecoin (DOGE), Cardano (ADA), Litecoin (LTC) and Bitcoin Cash (BCH), Stellar (XLM), Zcash (ZEC), Ethereum Classic (ETC) and Dash (DASH).

The digital company will be offering the digital currency trading service in partnership with Apex Crypto, but since Apex Crypto does not have the business license or BitLicense to operate in New York, the product will not be available to residents of that state.

Apex Crypto would be responsible for providing users with the “execution and custody service for the new cryptocurrency trading product” from Public.com.”

Conquering new markets

The diversification of the products and services of the company Public.Com and its irruption in the crypto sector could be part of the business strategy to compete with the Robinhood stock trading platform.

Public like Robinhood would be offering commission-free stock trading. However Public.com’s strength is “an additional social media component that could take advantage of the emerging retail investment frenzy boosted by meme stocks.”

M.Rodríguez

Source: cointelegraph

La entrada Public.com to launch function to trade in cryptocurrencies apareció primero en Bitfinance.

The bitcoin exchange Buybitcoinworldwide reported that they process approximately 300,000 transactions daily, not including those made in the different exchange platforms or centralized services and that “there are between 400,000 and 800,000 thousand active addresses per day, most likely that 400,000 to 500,000 people use their virtual currencies every 24 hours to carry out daily tasks.”

According to analyst Kevin Rooke, the blockchain in 69 opportunities has made more than a million transactions in 24 hours.

The bitcoin network was created with a decentralized system that makes it impossible to know with certainty the number of users that has the cryptocurrency. However, an estimated 200 million digital wallets are distributed among 100 million owners.

Chainalysis conducted a study to determine the impact of the cryptocurrency on the world economy and in order to measure users it considered the amount of BTC per bitcoin address. This allowed to know the existence of 460 million wallets “that once had a larger balance. at 0.0 BTC, although 288 million are empty and 93 % only used it once.”

While “172 million addresses” execute movements on a regular basis, of which “25 million accounts belong to decentralized groups or people participating in the network” and the rest, 147 million, correspond to the different buying and selling platforms or other participating players in the crypto market.

Bitcoin, like fiat money, can be used to acquire any product or service that accepts this means of payment and in the world market, BTC users can get anything, from a car to a medicine and even a home.

M. Rodríguez

Source: tecnologia.press

La entrada Daily transactions with Bitcoin continue to grow apareció primero en Bitfinance.

Real estate companies in Argentina are accepting cryptocurrencies on their platforms when buying and selling real estate. The first to take the initiative was MercadoLibre and its ads related to housing have the option of filtering the means of payment and includes Bitcoin among the different options.

MercadoLibre makes clear that it does not assume responsibility for the process or the way in which the purchase is executed. In this connection, it should be noted that BTC is not an official currency and does not have any type of recognition in Argentina, thus the platform is prohibited from participating in the operation.

There are at least seven real estate companies in the nation which are willing to accept Bitcoin on their platforms for buying and selling real estate. If you require the services, you only have to contact them or create the listing personally.

The real estate company Predial also considers cryptocurrencies within its means of payment. Its Executive Director, Gabriel Brodsky, reported that they began to accept “virtual currencies, but leaving Bitcoin aside” and that are replacing it with stable currencies, that is “crypto linked to the price of the dollar as Usdt, Busd, Theter”, among others.

The legal aspect, in this area, registers many gaps. However, they point out that the best way to execute the exchange is “in front of a notary with the buyer and seller accounts on the table, under the commitment to make the transfer after the signing.”

The financial reality is changing in the world, particularly for young people who have been venturing into the crypto market for years. The real estate industry, aware of this financial reality, began to tokenize properties and have included Bitcoin as a form of payment.

M. Rodríguez

Source: tecnologia.press

La entrada Argentine real estate companies accept BTC as a means of payment apareció primero en Bitfinance.

Grayscale, the world’s largest crypto fund manager, is preparing to convert the Bitcoin Trust into an ETF as soon as possible. Meanwhile, the United States Securities and Exchange Commission (SEC) continues to postpone the approvals of the applications of the different financiers for their Bitcoin funds (ETF) traded on the stock market.

Michael Sonnenshein, CEO of the financial company, pointed out that their biggest concern is when the SEC will approve the proposal. Like other market benchmarks, Sonnenshein is confident that the arrival of these financial instruments is imminent, and said that the growing adoption of large long-term investors will be helpful.

At the moment, the most similar to an ETF are the BTC funds, being the Grayscale Bitcoin Trust, the most important in the market. The executives of the firm have already assured that it will become an ETF as soon as it is feasible.

Grayscale recently partnered with BYN Mellon bank to obtain banking services on its Bitcoin Trust and eventual ETF. The CEO of the financial company considers that with the alliance they are “100 % committed to converting the GBTC into an ETF when the regulatory approvals are ready.”

Other financial companies like VanEck, SkyBridge Capital or Goldman Sachs,  as well as Grayscale, have also presented the corresponding documentation for their ETFs and are waiting for a favorable resolution from the US body.

M. Rodriguez

Source: criptomonedaseico

La entrada Grayscale will convert Bitcoin Trust into ETF apareció primero en Bitfinance.