Category Archives: Bitcoin

Googles latest crypto feature enables some Ethereum wallet addresses to have their Ether (ETH) balances tracked straight off of the Google search engine saving the need to make the trip to Etherscan.

The feature was first made public by the principal of Google Ventures, Han Hua, in an Oct. 11 tweet.

But Cointelegraphs attempt to search for a Bitcoin (BTC) address revealed a no-show on Google. Angel investor Stephen Cole was not impressed, tweeting Does Google not know about Bitcoin?

Cointelegraph also tried several different Ethereum addresses most of which didnt work. So, the functionality is very limited at present and may improve over time.

Nonetheless, recent efforts suggest Google is playing a key role in onboarding internet users to the world of blockchain-based services and Web3.

The new feature comes in addition to Googles partnership with crypto exchange Coinbase on Oct. 11 to allow its customers to pay for cloud services in crypto, which is expected to take effect in early 2023.

Google also got in on the Ethereum Merge hype by embedding a countdown ticker until the point at which Ethereum transitioned from proof-of-work (PoW) to proof-of-stake (PoS).

Related: Near Protocol partners with Google Cloud to support Web3 devs

Speaking to Cointelegraph, Markus Thielen, Head of Research at digital asset services platform Matrixport, said we shouldnt be surprised by Googles efforts in the Web3 space as both commercial banks and Web2 companies continue to do an enormous amount of work in the background, adding:

But while Googles efforts are welcome, Thielen believes a mass adoption event for Web3 could come when the iPhone can be used as a crypto wallet.

If and when this happens, the crypto industry will go from 100 miles an hour to 250 miles in a heartbeat, he added.

Vittorio Rivabella, developer relations manager of Web3 development platform Alchemy,said the news of Googles new Ethereum address search feature was bullish.

However, SadPanda.blockchain, the former editor-in-chief at Web3ArtBlog.NFT, wasnt so thrilled with the news, arguing that Google will sell our blockchain data to advertisers in order to target us via our wallets!

Link:
You can now search ETH addresses on Google But what about Bitcoin? - Cointelegraph

Bitcoin on Monday fell to its lowest level in over a week as investors continued to digest strong jobs data from Friday that pushed risk assets including cryptocurrencies even deeper into the red.

The largest cryptocurrency by market cap was down by about 1.3% to $19,213.00, according to Coin Metrics. Earlier in the day it fell as low as $19,116.43. Ether fell about 1%, to $1,307.58, after falling as low as $1,297.07.

"Today there seems to be some jitters and derisking across all markets as we approach Thursday's CPI release," saidRiyad Carey, a research analyst at Kaiko. "Bitcoin is moving closely with equities and I'd expect that to continue as there haven't been many crypto-specific catalysts in recent weeks. I also expect significant volatility on Thursday, with a move up or down depending on the inflation figure."

On Thursday the Bureau of Labor Statistics will release September's consumer price index. Economists surveyed by Dow Jones expect headline CPI to show a 0.3% monthly increase and an 8.1% annual gain. Investors watch these updates closely for clues about the Federal Reserve's next move in its fight to bring down inflation.

"We believe there is a building narrative that central banks are beginning to make policy errors," James Butterfill, head of research at CoinShares, told CNBC, citing Bank of England interventions, concerns about the Fed dot plot and timid interest rate rises by the European Central Bank.

"Several of our clients have made the point that they don't want to buy bitcoin right now, but as soon as the Fed pivots, they will add to positions," he added. "Key data points to watch out for this week will be the CPI data beat/miss on Wednesday and the FOMC minutes, a whiff of dovishness is likely to be supportive for crypto assets."

Despite the anxiety hanging over investors, cryptocurrencies' volatility has been uncharacteristically low in recent weeks, though its correlation with stocks remains positive.

Bitcoin ended Sunday within the $19,000 level for the fourth Sunday in a row, according to Kaiko. The high volatility regime that the crypto market has endured since its big crash in June could be coming to an end, based on hourly returns, the data provider said in a research note Monday.

Bitcoin and ether's hourly returns spiked 3% to 5% during the crypto credit crisis but have since reverted to around 1% to 2%, the note said.

The rest is here:
Bitcoin falls to start the week as investors look ahead to inflation data - CNBC

The Bitcoin price has been moving sideways as October marches on, and the cryptocurrency experiences downside volatility. On low timeframes, the sentiment in the market is neutral with upticks towards the bullish side, but on higher timeframes, BTC has been stuck in the same range for months.

At the time of writing, the Bitcoin price trades at $19,150 with a 2% loss in the last 24 hours and sideways movement in the last 7 days. BTCs price remains rangebound in its current levels and with occasional re-test of resistance at $20,500 due to macroeconomic conditions.

The Bitcoin price was recently rejected from the $20,500 area as the U.S. economy records higher-than-expected levels of employment and resilience to the Federal Reserve (Fed) monetary policy. The financial institution took over the attention of the financial sector.

The current economic narrative gravitates around the same topics, how far is the Fed willing to go to mitigate inflation, taking markets down with it? And how much pain can the U.S. allies take before the financial institution pivots?

From this main narrative, there are different sub-plots with a potential economic recession taking center stage. In the crypto sector, there are actors already expecting the Bitcoin price to rally as central banks maintain their aggressive approach increasing the chances of breaking key components of the global economy.

In that sense, the upcoming Fed Federal Open Market Committee (FOMC) meeting this Wednesday might provide more insight into the institutions strategy. This event is probably driven by the Bitcoin prices increase in volatility.

In the past, the cryptocurrency has seen similar price action ahead of the event, and bullish price action in the days after. This time the U.S. Dollar, as measured by the DXY Index, might operate as a short-term headwind against the cryptocurrency.

On daily timeframes, the DXY was able to score a new monthly high for October as the currency continues its uptrend. At the time of writing, the dollar seems poised to revisit the area around 115, which could limit the upside potential for the Bitcoin price, and three key global currencies: the Japanese Yen, the Euro, and the British pound.

In the short term, the Bitcoin price needs to see a retrace in the U.S. dollar to mitigate the downside pressure. As long as the dollar remains strong, risk-on assets and global currencies are likely to trade in the red.

Pressure is already mounting on the Fed to halt their monetary policy and interest rate hike program. From international bodies to hedge funds, the global market is asking for mercy, but the Fed and its Chairman Jerome Powell seem adamant.

On Wednesday, if the Fed reiterates its position, the Bitcoin price might continue to see downside volatility. In this scenario, traders should watch key support levels at $18,600 and $17,600 to prevent a larger drawdown.

See more here:
Bitcoin Price Kicks Off the Week In Red, What Fueled The Crash? - NewsBTC

This is an opinion editorial by Trent Dudenhoeffer, a certified financial planner at Watchdog Capital.

Believe it or not, bitcoin is money.

This may be a hard sell to many of us in the Western world, specifically here in the United States. I get it; the dollar is the reserve currency of the world. Yes, there is inflation, but its not that bad, despite todays inflation being the highest its been in more than 40 years.

I dont know about you, but the ever-decreasing value of my dollars is one of the reasons I learned about bitcoin in the first place. Whoever said we needed to have inflation? John Maynard Keynes did, by the way, and its the economic theory taught in schools throughout the nation.

My point is it can be difficult for Western civilization to understand why bitcoin is important. Many are blinded by the strength of the dollar and are unable to appreciate bitcoins utility.

To jog your memory, lets go through five examples of what bitcoin can do that the dollar, other fiat currencies and gold cannot.

The theme of censorship has been in the spotlight over the last decade, and especially relevant in the last handful of years.

Twitter deplatformed a sitting president of the United States.

COVID-19 origination theories once viewed as heresy are now largely accepted as valid. Believing in this theory earlier led to the deplatforming of many prominent people, including legitimate, respected doctors.

And this is just whats happening on social media. What happens when your money is censored?

Look no further than the Canadian trucker protest that took place in early 2022. The Canadian government sought to require vaccination of every trucker that entered its country. At the sight of this obvious intrusion of human rights, the truckers decided to protest the mandate by essentially closing the capital city of Ottawa by blockading the streets.

One thing led to another, and before you knew it, the Canadian banking system began to turn off the money of every person involved in these protests. Thats right. Whether you were a trucker yourself, donated some money to the efforts or passed out food, you were on the hit list and you had your money turned off. Frozen. It was there, but you couldnt do anything with it.

Today, its a trucker protest. What if its a womens rights protest next? A protest against abuses by a country youre allied with? Who decides?

Bitcoin sure as heck doesnt. Bitcoin doesnt care about the color of your skin, your political affiliation, the country youre in, what videos you watch on YouTube, etc. If you play by the same rules that everyone else plays by, you can use bitcoin.

This is one reason why thousands of people donated bitcoin to the Canadian truckers cause. It was money that no one, not even the government or banking system, could stop. More than 21 bitcoin was raised in the effort by 5,000 donors, at the time totaling nearly $1 million in support.

Bitcoin is censorship-resistant money.

Jurisdictional arbitrage will become more prevalent with political parties leaning further to the extremes here in the United States, as well as across the world. You see polarization, capital controls and capital flight taking place every day:

As a citizen, sometimes you must act fast or risk being too late to flee, but how do you move an entire household of trinkets and things with you as you leave? How do you cross borders with wads of cash falling out of your pocket or gold ingots weighing you down?

The answer is simple: you dont. Good luck getting anything of value across borders without it being confiscated. But you can move your bitcoin and if you do it correctly, you can move it with no one else knowing and without any evidence.

All you need to do is maintain 12 (or in some cases 24) words. These words can represent your entire livelihood and are known as a seed phrase. By having these words, you can bring your wealth anywhere in the world.

Thats what Laleh Farzan did. After receiving threats from the Taliban in 2016, she fled to Germany. Most of the time, when you flee a hostile area such as Afghanistan amid chaos, youre bound to run into thieves and/or unrelenting governments. The emigrants typically leave with nearly zero possessions.

But for Laleh, she was able to store her wealth via her seed phrase. It was contained on a tiny piece of paper which thieves and others disregarded. Once she arrived in Germany, she was able to sell a portion of her bitcoin for fiat to pay for everyday expenses.

Bitcoin mining requires a great deal of energy. Talking heads on the news have parroted this line plenty of times. Its supposed to consume all the worlds energy by 2020 (howd that work out?).

One might argue, the more energy bitcoin consumes, the better.

Hear me out.

Bitcoin miners act as an energy consumer of first and last resort. Essentially, they will always buy (use) energy if its available to them. What most dont know about our modern energy grids is that this type of reliability and consistency is extremely helpful. Rather than having to plan for energy demand peaks and troughs, energy producers can simply provide energy without worrying that no one will use it.

Long story short: Bitcoin miners stabilize entire energy grids. If youd like a deeper dive, read more here.

Not only do miners stabilize grids, but bitcoin mining encourages using the most efficient energy sources available. As a miner, your profit and loss statement is very easy to decipher: your revenue is the bitcoin you mine, your expenses (for the most part) are the energy required to mine it.

As a business owner, you ideally want to increase revenue and decrease expenses to beef profits. Besides mining more bitcoin, whats the easiest way to increase profit? Lower your expenses, aka your cost of energy. Whats the cheapest energy available to us? Energy that comes naturally: solar, wind, hydro, etc.

Bitcoin is ushering in new developments and innovation in green energy, and even more importantly, wasted energy.

Bitcoin miners attempt, as best as they can, to mine with energy that would otherwise be wasted. Its a win-win for both parties. The miner gets cheap energy and the energy producer sells energy that otherwise would have not produced any revenue. A great example of this is flared gas mining. When I first saw a video of miners using flared gas, I knew it was a game changer. It makes sense for every single producer on earth to plug in a bitcoin miner to earn more revenue and decrease emissions. Its a no-brainer.

Did you know that an estimated 60% of energy produced is lost before reaching the consumer? Bitcoin miners will happily buy the otherwise wasted energy from producers, thus allowing the producers to earn more revenue as well as provide reliable expectations for supply and demand.

Its only a matter of time before miners fully integrate themselves with energy markets.

Ever needed banking services after 5:00 p.m. or on a weekend? Pretty inconvenient, right? In a world of globally connected markets and on-demand everything else, why havent our financial services been held to the same availability standards?

Bitcoin has an up-time of 99.99%. Spanning more than 12 years, the Bitcoin network has only experienced a cumulative 14 hours of downtime.

I can be anywhere in the world at any time of the day and interact with the Bitcoin network as long as I have internet connectivity. If internet connectivity is an issue, some geniuses much smarter than me are working on ways to account for it.

24/7, 365. No holiday closures. No circuit breakers during volatile times. Tick tock, next block.

Commerce occurs on the internet rather than meat space more and more as the years go by.

Im not going to focus on commerce that requires a product to be physically shipped to your house in this post, but what I want to talk about instead are products and content that you consume directly on your computer.

Why do I have to divulge my credit card information and address to the Wall Street Journal if I want to read an article? Why do I have to do the same with Spotify to listen to a podcast?

Bitcoin, and its scaling layers, such as the Lightning Network, are going to disrupt e-commerce with internet-native micropayments.

There is a growing trend in the space known as value-for-value. Lets look at Fountain as an example. Fountain is a podcast app that is built directly above Bitcoins base layer on the Lightning Network. While using Fountain, podcast listeners can load up a Lightning wallet and stream tiny portions of a bitcoin known as satoshis, or sats directly to the content creator. These streams may be as small as five sats per minute, which today has a value of $0.0011.

Content creators can now rely exclusively on their audience to fund their venture if they prefer. Many podcasters appreciate this idea to align their own incentives with their listeners: zero product shilling, zero false advertising, etc. This also allows for a more engaging experience between the two parties.

Another fantastic use case for bitcoin in internet commerce is those pesky paywalls. Lets use the Wall Street Journal again as an example. I rarely ever read the Wall Street Journal, but lets say one article catches my eye that I desperately want to read. Then I encounter a paywall. 99 out of 100 times, Im going to exit the window and forget about the article.

The odds of me getting my wallet, typing in my credit card info, all my other personal information and likely having to sign up for a monthly subscription are next to zero.

With the Lightning Network, the Wall Street Journal may put up a paywall using BTCPay Server. In this instance, I can whip out my Lightning wallet, scan the QR code, pay the invoice and begin reading the article. The whole process may take less than 30 seconds without the publication having any clue who I am or where I live. This avenue of billing could expand the Wall Street Journals reach considerably, keep the one-time readings affordable and respect their viewers privacy.

Although these types of transactions arent nearly as world-changing as some of the other points mentioned above, its another arrow in Bitcoins quiver. Another real-world use case that bitcoin does worlds better than our current system.

No, bitcoin isnt dead. This isnt the first bear market and it certainly wont be the last.

Too many are fixated on bitcoins fiat price. What most dont realize is that bitcoin continues to work just as advertised. Its reliable, open to all and there are no rulers only rules.

Bitcoin is objectively better money. I look forward to everyone else coming to this realization.

This is a guest post by Trent Dudenhoeffer. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.

Continued here:
Five Examples Of Bitcoins Real-World Utility - Bitcoin Magazine

You have been lied to. Dont worry, though, you are not alone. Its one of those cases where if a factoid is repeated enough times by enough people, our mammalian brains will take the cognitive shortcut of just believing the factoid given that seemingly many others have accepted it as truth as well.

But today, one of the biggest assumed truths of digital currency has finally been dispelled: Bitcoin is nowrecoverable.

Wait, what? Yes, you heard it correctly, lost or stolen bitcoins can now be recovered through a legal process, and this dashes one of the most fundamental tenets that crypto advocates everywhere have been shouting from the tops of their soapboxes for the last 12 years.

But how is this possible?

Well, truth be told, it always HAS been technically possible. The problem was practically getting all the block producers to enforce the rules and do it in a way that is compatible with existing legal systems. Just doing the technical part without legal backing wouldnt be different from theft.

Last week the Bitcoin Association for BSV, an open, non-profit organization for Bitcoin advocacy,released softwarenamed Blacklist Manager, which can manage the coordination between miners (those that produce blocks) to enable coins to be frozen by court orders issued by authorities and digitized by a registered notary service.

This means that if one has been a victim of digital currency theft, a legal process to lay claim on the stolen coins can be pursued, ending with the coins frozen on the blockchain and unable to be moved. This is similar to features available to centralized ledgers such asTetheror XRP, which often freeze accounts based on a reported hack.

Up to this point, virtual currency advocates have always believed the ability to freeze native tokens of a public blockchain is impossible due to the decentralized nature of the system, but today that has shown to be untrue. The issue was never aboutdecentralization making it impossible for coins to be recovered or frozen. It was really just a matter of coordination among those that create blocks. This software allows for the coordination to be done simply and automatically by the miners.

When faced with the fact that this type of supervisory oversight is possible by some technical advocates in the past, the response from the greater digital currency community has always been that the running of non-mining nodesby thousands of independent parties on the Internet would prevent miners from attempting to coordinate a task of freezing coins. This is simply because the passive nodes would self-censor themselves off the legal chain and refuse to relay any transactions altered by the miners in this fashion.

This threat has never been followed through on in practice, and additionally, the premise has always seemed a bit weak in theory, akin to the idle threats by someone standing on a ledge threatening to jump.

In the end, a threat to jump and remove oneself from a system is just a form of boycott, something that every good capitalist understands as a valid way to protest a particular behavior. And like a boycott, it only works when enough of an economic majority moves in tandem to exercise the boycott.

Thus we can see why such idle threats in the past by BTC movements like the UASF group have put so much time and energy into publicizing and influencing the public mind to draw more people to their cause. They even went as far as twisting Bitcoin from a system maintained by the miners who support the network to one where theusers were now in control. (Very Marxist-like thinking).

In the end, the only threat they pose is the threat of public backlash in social media channels, affecting miners bottom line by blemishing their online reputation among their potential customers. This threat only works on miners because they are in such tight competition with each other that none could risk losing any ground to their competitors.

ITS A TRAAAP!!! Some space fish, in some space movie, about some space wizards.

In the end, it was basically all a psyop, constructed by those who stood to gain the most from the belief that Bitcoin transactions, and even THEFT, are irreversible, untraceable, and thereforea free-for-all money free from meddling by the state.

Like many stories involving utopias, this utopian dream was a dystopia in disguise, as anyone who has read Orwell can recognize. While we were being told not to trust the authorities ability to freeze coins, we were told not to question a company thatdoesnt even have a registered officeto freeze an entire blockchain because of what they arbitrarily deemed a hack.

Source: Twitter October 7, 2022: Binance account on losing control of 400mUSD of funds on their BSC chain

So while some exchanges and projects have no problemtaking the law into their own hands(which they presume the public believes are safer hands than those of the authorities), they are fast to criticize the authorities and courts for having the same power to stop the movement of stolen coins. Hypocrisy? Indeed, but why?

If we all believe that theft and crime should not be rewarded, then we should all be able to agree that the proceeds of crime cannot be allowed to be moved freely. In fact, if there was a magic button to pull back proceeds from crime and return the stolen coins to the rightful owners, it should be hailed by all to be the best thing to happen to the digital currency economy.

Indeed, that is precisely what this innovation spearheaded by the Bitcoin Association isthat magic button.

It is a wonder why there is so much pushback from certain parties claiming that this is a massive hit to decentralization1. One is forced to ponder whether those who push back against something that would impede the use of digital currency for criminal activity are perhaps the beneficiaries of such activity themselves. I am reminded again of the story of the Wisdom of King Solomon, who had to decide which of the mothers was the babys true mother.

It was the one who was willing to give it up in order for it to live. True motives always come out when there is something to lose

Jerry Chan

NOTES:[1] Is decentralization even a real thing? Or just another buzzword? To be explored in a future article.

Watch: The BSV Global Blockchain Convention panel, Blockchain Venture Investments: Driving Utility for a Better World

New to Bitcoin? Check out CoinGeeksBitcoin for Beginnerssection, the ultimate resource guide to learn more about Bitcoinas originally envisioned by Satoshi Nakamotoand blockchain.

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Bitcoin Recovery: Yes, it can be doneand legally too - CoinGeek

Bitcoin price is witnessing a sell-off after long-anticipated bullish news hits the market.

Bitcoin price is currently down 2% since the weekend, which brings the total decline for the month of October to 5% in lost market value. The bears have been flexed and persistent in pushing the price lower, although a ricocheting-rebound effect can be seen within the price action, which suggests the downtrend may be weakening.

Bitcoin price currently auctions at $19,190. The bears have successfully breached the 8-day exponential and 21-day simple moving averages. The bears are producing steep engulfing candles like the initial Monday morning candle that breached support from the Relative Strength Index,

BTC-USDT 30 Min Chart

Bitcoins bearish market conditions come at an interesting time in the market. Over the weekend, FTX Exchange announced they would release a Bitcoin Visa card. According to FTX, the crypto-backed debit card would be rolled out globally in over 40 countries, including many in Latin America.

As the news solidifies the worldwide adoption nuances for crypto enthusiasts, the technicals surprisingly do not match. If Market conditions persist, a fall into $18,900 support levels will be a likely occurrence.

Investors with a long-term outlook should consider a dollar cost average approach near the current levels as Bitcoin is known for notoriously producing V-shaped recovery after sharp-sell-offs. The macro-outlook maintains Bitcoin's bullish interpretation so long as $13,880 does not get tagged.

For more information on the macro interpretation, please consider reading:

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple: Who will catch the falling knife?

In the following video, our analysts deep dive into the price action of Bitcoin, analyzing key levels of interest in the market. -FXStreet Team

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Are the new Bitcoin Visa debit cards a sell-the-news event? - FXStreet

This is an opinion editorial by John Quigley, a Bitcoin mining researcher and digital nomad from Ireland. A version of this article was originally published on Adaptive Analysis.

Source: Mark Morton

For years, a growing divide has been forming between Bitcoin miners and BTC-concerned communities worldwide. A line has been drawn not only in the hash-rate-humming mining facilities around the globe but also in the social media arenas where anyone with two cents to share on Bitcoin advocates for one side or the other.

On the one hand, there has been a loud push toward renewables that extends far beyond the Bitcoin mining industry and is a pertinent issue in energy-intensive industries worldwide. However, Bitcoin miners have been firmly placed in the crosshairs of this push given the large amounts of energy that are consumed to power the globally-distributed mining network that is responsible for ensuring that blocks are steadily added on the growing Bitcoin ledger at a rate of roughly 10 minutes per block. Many Bitcoin miners have gotten onboard with this transition and have explored making use of hydroelectric, wind and solar power.

On the other hand, a small share of miners have adhered to and even advocated for fossil fuels, pointing out the intermittency issues that most renewable power sources pose to mining operations and the carbon-intensive manufacturing process and questionable longevity associated with these renewable power sources.

In the upper righthand corner of Ireland lies a small mining operation that may satisfy the values of both communities. On a picturesque farm in the County of Armagh, 35 latest-gen mining machines are being powered off grid by a largely unknown power source. These machines are being powered from the excess energy which this power source cannot sell to the grid, making the cost associated with the power virtually zero. On top of this, the power source is entirely self-sustaining and only requires a little on-site labor to keep it operating smoothly, meaning that the machines can benefit from 100% uptime, an important attribute that wind, solar and oftentimes hydroelectric fail to offer.

Importantly, this power source is entirely powered by organic waste, not only producing clean energy but turning waste products into fuel that can be sold to the grid or power onsite Bitcoin mines. This energy source may be the consistent and clean source of energy that Bitcoin miners have been searching for anaerobic digesters and to date, they remain largely untapped as a power source for bitcoin miners.

Mark Morton, a young, Cork-based professional whose enthusiasm for Bitcoin exudes in his every word, was one of the main drivers behind the anaerobic-digester-powered mining operation in Armagh. Morton is one of the key decision makers at Scilling Mining, one of Irelands pioneering Bitcoin- and mining-focused companies. His work to educate the Irish community on Bitcoin and mining has led him to operate a small, office-based mining operation, host regular in-person meetups, and manage one of Irelands biggest online community groups for Bitcoiners where matters such as political developments, market movements and general industry trends are discussed.

Mortons work paid off when the owner of the farm in Armagh paid him a visit to learn more about Bitcoin mining, to potentially make use of the excess energy his anaerobic digester was producing at his plant. A couple of meetings later and Morton was sourcing the mining machines and infrastructure setup to turn this idea into a reality.

As it stands, the mining operation is powering 35 latest-gen mining machines with capacity for another 33. At the time of this writing, the difficulty conditions mean that such an operation generates roughly 0.42 BTC monthly, a $8,133 monthly income at current prices.

This anaerobic-digester-powered mining operation is not just likely to be the first-of-its-kind in Ireland, but it may be the only such operation in the world. Anaerobic digestion is the process of utilizing the internal energy in waste matter to produce biogas, a fuel source which is 40% to 50% methane and 30% to 40% CO2, on average. Through use of an engine, this process can create on-site energy which can also be connected and sold to the grid with the proper infrastructure.

Source: Mark Morton

In contrast to renewable power sources such as wind and solar, anaerobic digestion provides 100% uptime if it is fed a constant supply of waste. This makes it an attractive supply load for grids which are working toward meeting demands for a higher share of renewable energy sources. As a result, some governments have incentivized the deployment of these generators. For instance, the United Kingdom government established a 10 million fund to assist in the development of such infrastructure. Incentives in the U.K. led to a proliferation in anaerobic digesters in Northern Ireland, a small segment of the country which is under U.K. jurisdiction.

Morton noted that in many cases, however, grid connections have failed to materialize, leaving farmers who invested heavily in such schemes with excess energy and a lack of revenue streams to pay off the costly infrastructure. Investments in anaerobic digesters can range upwards from 200,000 to 1,000,000 depending on the energy capacity with expected ROI timeframes of four to seven years. However, such ROI figures depend on reliable grid connections and the costs can radically increase when it comes to larger-scale projects with estimates for costs going up to $5,000,000.

Morton has estimated the ROIs for an investment in an onsite mining facility for anaerobic digester owners under a wide variety of price and difficulty conditions. He noted that under most conditions, the payback period is roughly two years, after which, the owner of the facility would be generating pure profit which would be accelerating the ROI of their anaerobic digester. Under favorable conditions, Morton estimates that the payback period could be as short as ten months for the onsite mining facility.

The genius of Scilling Mining is in utilizing Bitcoin mining infrastructure to fill the gap between the energy produced by these anaerobic digesters and the lack of a demand-side outlet such as an onsite demand load or grid connection. Bitcoin mining fills that role of an onsite demand load and monetizes the excess energy by powering the fundamental role of validating, bundling and appending transactions to the Bitcoin blockchain.

Morton and Scilling Mining initially researched container options to both house and connect the rigs to the power source but determined that the best solution would be to work with the right professionals to build their own custom solution. The result was the Power Vault 68, a container solution that houses up to 68 mining machines and is carefully designed for airflow, electricity infrastructure and to meet fire hazard standards.

With over 20,000 anaerobic digesters operating worldwide and roughly 1,000 new plants being deployed each year, the natural question that emerges is how much scope there is for partnerships between the owners of such infrastructure and those with expertise on the Bitcoin end. The efforts of Morton and Scilling Mining have certainly alleviated the pain points of one owner of this costly infrastructure. But Morton doesnt see it stopping there. Scilling Mining has ambitions for more sites operating by the end of the year and aims to educate anaerobic digester owners across the continent on the potential for monetizing their excess energy with onsite Bitcoin mining facilities.

This model is not new. For years, North American Bitcoin professionals have been partnering with and assisting oil and gas producers to help them tap into their excess energy production which is oftentimes flared directly into the atmosphere. But now it looks like a relatively new, Bitcoin-focused company has discovered Europes equivalent. Throughout Europe, there may be vast amounts of untapped, clean energy with 100% uptime that are ideally positioned to be monetized through on-site Bitcoin mining machines.

Thanks to Scilling Mining and a forward-thinking farm owner in the Northeast of Ireland, there is now a successful proof of concept operating in a remote farmland in Ireland which highlights the potential for further partnerships between the owners of anaerobic digesters and Bitcoin professionals in the years to come.

This is a guest post by John Lee Quigley. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

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In Remote Northeast Ireland, This Bitcoin Miner Is Turning Biogas Into Sats - Bitcoin Magazine

JP Morgan CEO Jamie Dimon predicts another easy 20% fall for S&P 500 from current levels, considering global macroeconomics. How will Bitcoin react?

In an interview with CNBC, Jamie Dimon said that the US and the world is likely to be pushed into a recession six to nine months from now. He predicted S&P 500 could fall another easy 20% from current levels. He added, the next 20% would be much more painful than the first.

The community believes that Jamie Dimon is known to predict Fear, Uncertainty and Doubt (FUD). He is wrong in most of the predictions. Earlier in April 2020, he predicted a bad recession in his annual letter to shareholders. They stopped the buyback of JP Morgan shares. The stock then rallied 52% from April 2020 to April 2021.

In his April 2021s annual letter to shareholders, he said that the pandemic will end with a US economy rebound, the US economy will likely boom, he added, This boom could easily run into 2023. The reverse happened. The current economy is in a worse state than in April 2021.

The markets will get the answer in 6 to 9 months whether the index will fall by another 20%.

Is there any similarity between the 2008 chart of the S&P 500 and the 2022 chart? In 2008, when the index was down by almost 10% from its all-time highs, it retested 200-day Simple Moving Average (SMA). There was a head-and-shoulder type formation, and the index breached the neckline in June 2008.

After that, the market saw a steep drop of nearly 50% before hitting bottom.

In 2022 as well, when the S&P 500 retested 200-day SMA, it was down approximately 10-12% from its all-time highs. The index formed a similar head-and-shoulder type pattern after getting a rejection from 200-day SMA. The neckline was breached in September 2022. Is the market on the verge of a steep move downside?

If Dimons prediction of another 20% downfall turns out to be accurate, the community fears there will be an impact on cryptos. There is a high correlation between S&P 500 and BTC. The effect multiplies when it comes to Bitcoin. From February to March 2020, when S&P fell by 35%, Bitcoins price fell to more than 60%. Presently S&P is down nearly 25% from its ATHs, and Bitcoin is down more than 70%

If S&P 500 falls by 20%, Bitcoin can see more than a 50% downside from the current levels. Some traders feel that this could be a buying opportunity.

Is the JP Morgan CEO on the money this time?

For Be[In]Cryptos latest Bitcoin (BTC) analysis, click here

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Originally posted here:
JP Morgan CEO: Stocks Could Fall Another 20%. And BTC? - BeInCrypto

A popular crypto strategist and trader is predicting more rallies to come for two low-cap altcoins that have recently shown strength.

The pseudonymous analyst known in the industry as Altcoin Sherpa tells his 184,400 Twitter followers that decentralized derivatives exchange Injective Protocol (INJ) is the gift that keeps on giving.

This entire area ($2.00) is a big supply zone. With that said, its been tapped several times the last few weeks, and I think a lot of sellers are gone around $2. Im riding this one until $2.50, entry around $1.80

At time of writing, INJ is trading at $1.93, up over 8% in the last seven days. A move to Altcoin Sherpas target suggests an upside potential of nearly 30% for INJ.

Another altcoin on the traders radar is SushiSwap (SUSHI), also a decentralized exchange protocol. According to Altcoin Sherpa, SUSHI is facing some resistance at current levels but he believes that the altcoin will continues to rally toward his target.

SUSHI: Current area is scary bit I still think it probably goes to $1.60 eventually.

At time of writing, SUSHI is swapping hands for $1.38, an over 22% increase in the past seven days.

As for Bitcoin (BTC), the popular analyst predicts a move down to the $18,000 level if the king crypto fails to hold the equilibrium of its range at around $19,500.

Two scenarios that Im eyeing. This is an unclear area for now. Conflicting signals and the exponential moving averages are all right near price; theoretically should provide some support, but when price is flipping between EMAs so consistently, its less likely to be strong support or resistance, in my opinion.

At time of writing, Bitcoin is valued at $19,412, flat on the day and below Altcoin Sherpas range equilibrium.

Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia

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Crypto Analyst Predicts Further Rallies for Two Explosive Altcoins, Updates Bitcoin Forecast - The Daily Hodl

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