Day: March 2, 2021

You can now buy a used Hyundai, not just a Lambo, with Bitcoin

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HGreg, a Quebec-based vehicle superstore with 30 North American locations, will begin accepting cryptocurrency payments for new or preowned vehicles this month.  The auto dealer, which has locations in Quebec and Florida, is becoming one of the first large automotive groups to accept digital asset payments in its day-to-day operations. The company claims to have sold 500,000 vehicles over the past 25 years and maintains a warehouse in Miami that’s stocked with over 1,000 cars. “A portion of the revenue from sales made in cryptocurrency will be kept in this…

China’s Inner Mongolia Plans to Shut Down Bitcoin Mining Operations by April This Year – Mining Bitcoin News

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Inner Mongolia, an autonomous region in northern China, is planning to shut down all cryptocurrency mining activities in the area by April 2021, as part of efforts to improve energy efficiency. Regulating the Electrical Consumption in Inner Mongolia The government of Inner Mongolia will also stop approving new projects in energy-intensive industries such as steel and coke production, Reuters reported on Mar. 1, citing a draft policy to regulate energy consumption in the region. Chinese journalist “Wu Blockchain” tweeted that the decision might be due to China’s need to meet…

Sony Europe joins Theta blockchain validator program

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Sony’s European subsidiary is the latest company to join the validator program of the Theta Network, a decentralized blockchain-based video protocol. Sony Europe’s research and development group, the Center Europe Brussels Laboratory, has joined Theta’s enterprise validator and governance council program, the company announced Tuesday. As part of the development, Sony will operate an enterprise validator node located in Europe to validate network transactions on Theta’s proof-of-stake consensus protocol. Sony Europe will also act as a member of the governance council to participate in strategic technology planning and ensure the…

Blockchain is Finally Becoming What Was Promised

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Ten years ago, Bitcoin emerged as the first cryptocurrency. It brought with it the promise to resolve some of the major challenges that come with regular fiat currencies like the US dollar (USD) and Chinese yuan (CNY) — including rampant inflation, counterfeiting, and centralization. But despite this, it isn’t Bitcoin that is poised to reshape finance as we know it, but its underlying technology known as ‘blockchain’. This decentralized ledger technology has gone through several iterations in the past decade, and one of the most recent forms looks set to…

Learn Cryptocurrency Better and Closer | Crypto News | Cryptoknowmics

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Evolves files for Ether ETF with Canadian regulators

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Less than a month after becoming the second firm to secure approval from Canadian regulators to list a Bitcoin (BTC) exchange-traded fund, Evolve is looking to debut an Ether (ETH) ETF product in Canada. According to a Tuesday press release, the company has filed a preliminary prospectus with Canadian regulators for approval to begin trading an Ether ETF product. According to the communique, if the Ether ETF is approved, it will trade under the ticker “ETHR” and will track the Ether-Dollar Reference Rate (ETHUSD_RR) provided by CF Benchmarks. The CME ETH…

Crypto.com Is Now Sponsor of Aston Martin Formula One Team

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Aston Martin’s partnership with Crypto.com is a clear indication that the interest in cryptocurrency adoption is increasing. According to recent reports, one of the biggest trading sites Crypto.com has agreed to collaborate with the Aston Martin Formula One team and to sponsor the team. The multi-year sponsorship deal of the crypto trading platform and the motorsports team came amidst the incredible stance pulled by the crypto market from the beginning of the year. As per reports from the British-based luxury car manufacturer Aston Martin, this deal comes as part of…

Litecoin creator draws parallels between 2021’s NFT and 2017’s ICO mania

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Charlie Lee, the creator of major cryptocurrency Litecoin (LTC), believes that the ongoing spike in popularity of the nonfungible token, or NFT, industry has much in common with the 2017 initial coin offering, or ICO, mania. Lee provided at least five similarities between 2021’s NFT popularity and 2017’s ICO mania, also comparing both to the altcoin craze in 2013 in a tweet on Tuesday. According to the Litecoin creator, all three cryptocurrency phenomena look very similar, as they are easy to create “with no barriers” and simple to understand and…

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