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A Dutch entrepreneur is helping to fight climate change rather unexpectedly — by using cryptocurrency mining to grow tulips!

In a modern twist, the Dutch are using bitcoin mining to reap an age-old bounty — tulips! Known for centuries as one of their most iconic cash crops, these beloved flowers now have another purpose in Holland: powering cryptocurrency.

The idea is so promising that even philosopher Nassim Nicholas Taleb has compared bitcoin mining in greenhouses to his concept of the “black swan” event. Despite the comparisons to Tulipmania, Koning believes that Dutch agriculturalists could benefit greatly from bitcoin mining in the years ahead.

Continue reading “A Dutch startup uses Bitcoin mining to grow tulips in the Netherlands” »

Bankman-Fried was due to testify about the collapse of his cryptocurrency platform FTX before the US Congress on Tuesday.

Sam Bankman-Fried, the former CEO of the collapsed cryptocurrency exchange platform FTX, was arrested by Bahamian authorities on December 12 after US prosecutors filed criminal charges, the US Attorney’s Office Southern District of New York confirmed on Twitter.

Bankman-Fried was arrested at his apartment complex, in Nassau, Bahamas, and is scheduled to appear on Tuesday in a magistrates court in Nassau. The US prosecutors also added that an indictment would be unsealed on the day.

FTX founder Sam Bankman-Fried was arrested in the Bahamas at the behest of US prosecutors on Monday, the day before he was due to testify before Congress about the abrupt failure last month of one of the world’s largest cryptocurrency exchanges.

#FTX #SamBankmanFried #Bahamas.

Continue reading “Former FTX founder Sam Bankman-Fried arrested in Bahamas after US files charges | Latest World News” »

Federal prosecutors are reportedly investigating Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX.com, for possible market manipulation that led to the Terra-LUNA crash in May, according to the New York Times.

See related article: Could FTX woes bring on another crypto freeze resembling Terra-Luna?

The success of The Merge concept may now serve as a roadmap to enable a switch from Proof of Work to Proof of Stake in Bitcoin.

Ethereum, the world’s second-largest crypto asset by market cap, has drastically changed its energy usage, saving a country-size proportion of power consumption.

This radical update most likely reduced the power consumption of the crypto network by 99.84 percent to 9.99 percent, according to a paper published by peer-reviewed data-science journal Patterns on Tuesday.

Stephen Wolfram is at his jovial peak in this technical interview regarding the Wolfram Physics project (theory of everything).
Sponsors: https://brilliant.org/TOE for 20% off. http://algo.com for supply chain AI.

Link to the Wolfram project: https://www.wolframphysics.org/

Continue reading “Stephen Wolfram on the Wolfram Physics TOE, Blackholes, Infinity, and Consciousness” »

The recent price stabilization was the last gasp, according to experts.

The world’s most popular cryptocurrency, Bitcoin, is on its way to irrelevance, according to the Director General of the European Central Bank and his adviser. In a recent blog post, the duo questioned the utility of Bitcoin as a form of alternate currency and the value it has created for society thus far.

The comments come at a time when the cryptocurrency industry is reeling under a shock from the collapse of FTX, one of the largest crypto exchanges in the world.

Continue reading “European Central Bank warns that Bitcoin’s days might be over soon” »

He does not know what happened to his Twitter stake either.

Former FTX CEO, Sam Bankman-Fried (SBF) was living the living billionaire dream until earlier this month. Then FTX collapsed in a matter of days and the man who held a personal fortune of $26 billion at one time is now down to his last $100,000, Axios.

The rise of SBF was a textbook case of a young entrepreneur who struck gold in a field that was still in its infancy, and most knew little about it. Even today, very few really understand how the world of cryptocurrency works, and where it is headed. But one thing is for certain, SBF won’t be a name that will be featured in successful crypto stories henceforth. He was at the helm of affairs when FTX collapsed and so did billions of dollars’ worth of investor wealth.

Bitcoin is trending sideways in its current range, the cryptocurrency managed to prevent a fresh assault from the bears, but uncertainty remains strong in the market. This status quo supports the price action, and it could operate as the dominant trend for the remaining of the year.

As of this writing, Bitcoin trades at $16,400. The cryptocurrency has been stuck at these levels for today’s trading session after re-testing its yearly lows yesterday. In the wake of FTX’s collapse, crypto users have lost confidence. This could have a long-lasting impact on the nascent asset class.

Data from crypto exchange Bitfinex indicates that users are withdrawing their Bitcoin from exchanges en masse. The FTX’s collapse triggered a massive BTC outflow from trading venues; investors fear losing their funds in the contagion.