Altcoins Analysis Bitcoin Blockchain

Posschain: A Multi-Chain Ecosystem Connecting All Blockchains

Posschain: A Multi-Chain Ecosystem Connecting All Blockchains

Posschain, a next-generation blockchain protocol, allows seamless scaling and communication of legacy, current, and future blockchains. The protocol has attained an advanced scalability position through advanced sharding, pipelining resemblant sale processing, and chunking.  Notably, these technologies have helped Posschain pave the way for blockchain and its technologies by simplifying the use and development of blockchains […]

Bitcoin Crypto News

Mr. Wonderful-Backed Green Bitcoin Mining Venture To Build $500M HQ In N. Dakota

Who’s putting his money where his mouth is? Mr. Wonderful AKA Kevin O’Leary is. As one of the main proponents of the industry’s need for green bitcoin mining, Mr. Wonderful invested in Bitzero. And now they’re announcing that the company will build its North American headquarters in North Dakota. Why is this news? Because of the things they’ll do with the heat that the data center will produce. Heat is an unintended byproduct of bitcoin mining, and Bitzero Blockchain Inc. plans to use it to fuel the region’s food production throughout the year. The company will partner with MHA Nation’s greenhouse project to accomplish it. And they’ll use North Dakota’s abundant green energy resources to mine the bitcoin without even touching carbon. Mr. Wonderful is presenting us with a win-win situation right here.  In a governmental press release, Hidatsa and Arikara (MHA) Nation Chairman Mark Fox said, “Bitzero is working with us to use our Western Area Power Administration hydroelectric power to reflect the company’s zero carbon mandate. The additional heat produced from the data center facility will be used for our MHA Nation’s Greenhouse Project currently under construction.” Excited to announce that North Dakota emerged as the logical choice for @bitzerodotcom's headquarters due to alignment on the state’s goal of being carbon neutral by 2030, a robust energy industry, favorable tax and regulatory environment and access to top-tier talent. 1/ pic.twitter.com/GylnM1aNaO — Gov. Doug Burgum (@DougBurgum) June 1, 2022 Out of the $500M for the North American HQ, the company already raised $100M. At one point over the next two months, Bitzero will host an IPO in Canada to get the rest. The green bitcoin mining company is originally from Namsskogan, Norway, where their data centers already work with hydroelectric power. That means, their operations run on 100% renewable energy. Using the heat for food production is a benefit on top of that.  What Does Mr. Wonderful Have To Say About The Situation? The plan was to announce the North American headquarters before the IPO, and Bitzero delivered. In what seems like a private event with entrepreneurs, politicians, and media, the North Dakota part of the venture came to life. Local radio station KVRR provides video and quotes Mr. Wonderful saying: “Data is the new oil. This state has plenty of energy. Now, it has an opportunity to convert some of it and diversify into what every single sovereign wants. The value of having your data on your own soil. In a stable place because it’s the records of people, it’s the banking system. It’s all of the information that every single sector of the economy needs.” For his part, Governor Doug Burgum said in a tweet, “excited to announce that North Dakota emerged as the logical choice for Bitzero’s headquarters due to alignment on the state’s goal of being carbon neutral by 2030, a robust energy industry, favorable tax and regulatory environment and access to top-tier talent.” BTC price chart for 06/03/2022 on Cexio | Source: BTC/USD on TradingView.com Other Projects in North Dakota In the middle of April, just a couple of months ago, the government of North Dakota announced a visit by Mr. Wonderful and Bitzero CEO Akbar Shamji. The purpose of the visit was “to evaluate potential Bitcoin mining investment opportunities” in the state. Apparently, things went well.  There's so much opportunity in Bitcoin mining using 100% sustainable green energy like wind, solar, nuclear and hydro. — Kevin O'Leary aka Mr. Wonderful (@kevinolearytv) May 10, 2022 At the time, they announced two more things. First, “the bitcoin mining company has plans to build out 200 megawatts (MW) of power in data centers over the next two years.” So, this is just starting. Second, “in addition to the data centers, the company also plans to develop an assembly and distribution hub for graphene batteries technology.” So, there’s more coming.  “There’s so much opportunity in Bitcoin mining using 100% sustainable green energy like wind, solar, nuclear and hydro,” Mr. Wonderful said recently in a tweet. Plus, in a Cointelegraph interview, Mr. Wonderful said, “Private capital must be compliant with environmental, social and governance factors. ESG was once a marketing term, but now it’s a real thing.”  Even though not everyone in the bitcoin space agrees with him, it’s commendable that Mr. Wonderful is not just talking. He’s betting on a green future for bitcoin, and apparently, he’s betting big. Featured Image by Tim Mossholder on Unsplash | Charts by TradingView

Crypto News

5 Ways that Blockchain is Reshaping the Betting Business

If there’s one takeaway that society has gained from the betting industry, it’s that traditional casinos are not designed to favor the bettor—the house always ends up winning. At the end of the day, a casino is simply a business, and like any other business, it is designed to ensure profitability. The reality is, traditional casinos have a slew of built-in advantages to ensure that it always comes out on top, not their customers. This is known as the “house edge” and represents the average gross profit the casino expects to make from each game. The more users play, the greater the odds are that the result of their play will match up with the house edge—and that they will lose money. This house edge vastly varies among the different casino games, with blackjack being the lowest and keno the highest. In 2013, The Wall Street Journal gained access to a private casino database, discovering that only 13.5% of bettors end up winning. Bettors getting taken advantage of by casinos is a culture that unfortunately continues to be the reality for traditional betting. However, the emergence of blockchain technology aims to change this by giving the power back to the user. Players who bet on the blockchain can bet against one another in eSports, regular sports, and other games without going against the house. While emerging metaverse casinos hold a lot of similarities to traditional casinos, there are also some notable differences. More options One of the first advantages of metaverse casinos instead of traditional casinos is the range of games available. Bettors will not only be able to bet on blackjack, slots, and roulette. Take the new metaverse casino Planet Maya for example. Planet Maya has raised an undisclosed amount from some of the top players in web3 at a staggering valuation. The platform, which aims to become the world’s first collaborative and decentralized online casino metaverse, hosts over eight categories of games, including hundreds of sub-categories, from poker, binary sports, esports betting, racing, and many more. Endless experiences Not only will metaverse casinos have endless betting opportunities, but they’ll also have a limitless pool of live experiences to immerse themselves in. Planet Maya plans on giving users the option of experiencing live entertainment such as concerts and stand-ups, live sports, esports championships, and boxing matches via the immersive experience of virtual reality. Convenience Not only will the Metaverse make betting more diverse for users, but it will also make the activity simpler. From signing in to playing online games to sitting through betting sessions. The entire experience will be delivered via a virtual headset in an immersive, true-to-life experience where users can walk around without being bound to their chairs. Transparency It’s no secret that online poker allows users an advantage by not being able to display their poker faces. The metaverse allows for reality to set in here since users can move their avatars around and have real-life simulations of body language. This way, it’s much easier for players to gauge their opponents. The transparency of blockchain allows bettors to verify the odds prior to setting bets. Its immutability of it means the odds cannot be rigged or changed mid-bet, unlike most online casinos. Security Within the transparency of blockchain is the power of privacy. Through the anonymity blockchain offers, casino metaverses are able to offer the most privacy users can get. Finally, one of the key differentiators between traditional casinos and metaverse casinos is the payment method. Metaverse casinos mainly cater to cryptocurrency transactions, allowing for much faster, cheaper, and more secure payments to online casinos. No more running to the concierge to convert cash for tokens; betting in the metaverse makes transactions not only more secure but also decentralized and free from a single authority. Up until the dawn of the metaverse, casinos in both real-life and online traditionally have had one goal, to profit from players. The emergence of DeFi and blockchain technology is giving rise to a new form of betting where players can have not only more diverse experiences but also more security, transparency, and choice.

Altcoins Analysis Bitcoin Blockchain

Binance VC Arm Raises $500M To Drive Blockchain And Web3 Adoption

Changpeng Zhao Says Binance Is 10x Bigger Than Its Closest Competition, Speaks On Regulatory Challenges

Binance Labs, the venture capital and incubation unit of Binance has completed a $500 million investment funding round. According to a Wednesday, June 1 announcement, the funds were pooled from a list of leading global institutional investors including Breyer Capital, DST Global partners as well as private major equities, family offices, and corporations that contributed […]

Crypto News

Conferences, triangles and crosses: making sense of the BTC bear market with StormGain

The latest market information shows BTC/USD continuing to hover around $29,000 after failing to hold the crucial $30,000 support. BTC price movements, 15-25 May 2022. / Source: StormGain As the original cryptocurrency stalls, traders and analysts are chiming in with observations about what the next price movement could be. Some are looking for positive signs from the ongoing World Economic Forum (WEF) Annual Meeting at Davos, while others are pointing to historical chart patterns or highlighting cryptocurrency’s correlations with the wider stock market. Whether Bitcoin is set to plunge below pre-2020 levels or not, there are useful strategies that traders can employ to stay profitable even during a crypto winter. BTC at the world economic forum Cryptocurrency was a significant topic at the WEF summit, with multiple panels concerning crypto, DeFi, and CBDCs featuring a mix of thought leaders from the traditional finance, fintech and crypto sectors. Miami mayor Francis Suarez spoke in support of crypto’s innovative uses amidst the bear market: “We live in a world where investors only look at things from a return perspective, but Bitcoin should be seen from an innovative and technology perspective”. Jeremy Allaire, chairman and CEO at Circle Pay, and Brad Garlinghouse, CEO of Ripple, were also present, exploring crypto’s potential for cross-border payments and national stablecoins. Despite crypto being a hot topic, however, Bitcoin’s market price does not appear to have been meaningfully affected by discussions at the conference this week. Nonetheless, it is a sign that cryptocurrency’s outsider status in the global economic system is a thing of the past. For the moment, if crypto is still being treated mainly as an investment asset, could the wider stock market hold a clue to the next move? Relation with US stocks Bitcoin’s market behaviour recently has been closely correlated with US stocks, especially tech stocks. The latter sector, in particular, is struggling to cope with the post-pandemic market adjustment, but the stock market is showing positive signs of life. The S&P 500, Dow and Nasdaq have all started to rise up after a heavy rout, which is a positive indicator for crypto, too. One indicator being watched is the CME futures gap. BTC futures are not traded 24/7 on the CME, so the price there will often move to fill the gap between CME trading close and open. BTC/USD did manage to close the CME futures gap on the downside, so the expectation is that it will rebound to fill it. However, it does not always do so swiftly. Crypto is still seen as more of a risk asset than a safe haven, and even the current weakness of the US dollar is not enough to send investors flocking to Bitcoin. One factor is surely the US Federal Reserve, which is raising dollar interest rates in an attempt to stave off inflation. Given crypto’s famous volatility compared to the stock market, a breakout for Bitcoin and Co. could be more sudden and dramatic than anything occurring on Wall Street. Looking at the BTC charts, we can see a few interesting patterns that serve as a basis for price analysis. The triangle: where will we see the breakout? Over the last two weeks, Bitcoin’s price chart has formed a symmetrical triangle in the narrow range of $28,900 to $30,900. It is likely that this pattern will continue for another fortnight before breaking out in either direction. BTC/USD chart showing symmetrical triangle pattern. / Source: TradingView The symmetrical triangle represents a pattern of lower peaks and higher lows as the triangle narrows. Typically, the pattern ends in a bullish or bearish breakout when the price moves beyond the support or resistance threshold. The current investor mood is bearish, with most betting on a downturn, but this increases the potential rewards for a bullish position if developing economic trends catch bears by surprise. This can happen if geopolitical events give an unexpected boost to the economy. The Crypto Fear & Greed Index has been locked into “extreme fear” all month, with a small recovery this week that suggests that the bearish offensive may be relaxing slightly, especially if BTC recovers above $30,000. As we near the triangle’s breakout point, the adage of being brave when all others are fearful may encourage bulls to take a risk for a correspondingly high reward.  The death cross prediction Analysts have been discussing the so-called “death cross” patterns on the Bitcoin chart. This phenomenon occurs when the declining 50-period moving average (50MA) crosses under the 200MA. Historically, the death cross signifies a significant price downturn, and the current situation with BTC/USD indicates that a death cross is imminent. 1hr BTC/USD chart showing MA cross indicator / Source: StormGain Based on historical precedent, BTC will drop following a death cross, usually by a percentage matching the pre-cross drop. The current pre-cross drop was 43%, so we could expect a price drop down to around $22K if this pattern holds. However, during previous death crosses in 2020 and 2021, the cross itself marked the bottom of the price action and the beginning of an extraordinary rebound. Traders should watch the action around the cross closely. If it appears to follow the previous two years, then it would be a good time to buy before the recovery. If it behaves like pre-2020 crosses, then we could roughly predict the price will drop further. A two-year trough? What to know before buying the dip Crypto market crashes have historically proven to be good opportunities to buy up coins for cheap before selling them for profit in the next bull run. For example, buying Bitcoin for around $6K in 2020 and selling for $60K before 2022. Bitcoin is currently expected to pull below $24K, and altcoins will follow the first mover’s pattern. So, if anyone is picking up discount BTC, when should they expect new highs? The long-term outlook for Bitcoin will certainly test the patience of some traders. Popular crypto Twitter commentator, Il Capo of Crypto (@CryptoCapo), set a credible target: hodlers should only expect BTC to breach new all-time highs in 2024. Why? Bitcoin’s next block halving is scheduled for that year, and the reward given to miners will drop from 6.25 BTC to 3.125 BTC per block, slowing the supply and making buying more attractive. At that point, Bitcoin has the potential to surpass $70K and reach new heights. Historically, the bear market periods for Bitcoin have been where retail traders buy into the crypto market, and on-chain data shows that things are no different now. But new traders must be patient and also prepare strategies to survive the winter. Fortunately, the best crypto exchanges offer a range of options to profit in both rising and falling markets. Trading strategies to weather the winter StormGain is an all-in-one crypto platform designed to enable profitable trading strategies regardless of market conditions. Not only does it feature built-in crypto wallets with bonuses for trading and holding in the long term, but also low, low fees to help you seize those exciting market opportunities as soon as they arise. This allows new traders to buy the dip, enter the market at a discount price, and accumulate crypto until the next bull run. For traders concerned with risk management, StormGain also offers crypto indices. They are asset bundles of different tokens to diversify your portfolio to avoid being too exposed to the performance of any one asset while being positioned to benefit from the market recovery overall. In addition, traders can purchase call and put options to short the price. If you believe the consensus that the market is likely to fall in the short term, then shorting the price of crypto is a viable strategy for profit in the bear market. Whatever strategy you choose, StormGain rewards all traders with free BTC simply for actively trading on the platform, thanks to its built-in Bitcoin cloud miner. All of these features are available on StormGain’s easy-to-use mobile app or web platform. Not a StormGain member yet? To sweeten the pot, new StormGain clients who register by 31 May 2022 will receive a 20% bonus for their first deposit of 10 USDT or more. Register in just a few seconds to join the crypto platform with the best perks in the business!