Day: May 30, 2023

Nvidia CEO Says Generative AI Will Birth ‘New Computing Era’

Nvidia believes that generative AI might be the most important computing platform of this generation. Nvidia CEO Jensen Huang has shared some of the prospects of generative AI being a form of artificial intelligence technology that will greatly impact the world. He shared his thoughts on Monday while delivering a keynote speech at the Computex forum in Taiwan. According to Huang, it is the dawn of a “new computing era” where a layman can easily be a programmer. He claims that generative AI gives virtually anyone the capabilities of being…

Tether Ups Bitcoin Bet With BTC Mining In Uruguay

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Summary: Tether plans to tap into Uruguay’s renewable energy ecosystem and mine Bitcoin (BTC), crypto’s largest token by market cap. The digital payment company is looking to diversify its operations after solidifying USDT’s position as the top stablecoin with an 83 billion token supply. Tether recently started buying Bitcoin with 15% of net realized profits and holds over $1.5 billion in BTC. Tether, the company that issues crypto’s largest stablecoin USDT, announced plans to mine Bitcoin (BTC) in Uruguay using renewable and sustainable energy. The Company’s CTO Paolo Ardoino said…

What the ‘anti-mining bill’ means for the crypto industry in Texas

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In late April, over a hundred people gathered near the Texas Capitol building to protest.  Peaceful protests in the United States are not uncommon, but what made this one unique was that its participants were gathered to advocate for the right to own and use cryptocurrencies. The location is also puzzling, as the Lone Star State has been presenting itself as a potential hub for the crypto industry in the United States, with varying state and federal laws creating an uneven regulatory landscape. ‘Digital Freedom rally’ to oppose Senate Bill…

Laos Government Organizes Meeting on Blockchain 4.0 and Digital Economy Development

Laos has set up a committee to oversee legal compliance and draft appropriate legislation to prepare for the digital economy. A conference organized by the Laotian government on May 26, 2023, brought together national blockchain and Web3 experts. The meeting’s goal was to discuss the implementation of blockchain 4.0 in Laos’ economic sectors.  The conference examined the digital potential of the nation and ways to apply digital technology to various sectors of the economy. According to reports, MetaBank and the government of Laos are working on a system to aid…

Tether Invests in Sustainable Bitcoin BTC Mining in Uruguay

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Bitcoin is on a collision course with ‘Net Zero’ promises – Cointelegraph Magazine

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Each year at the annual UN Climate Change Conference (COP), individual countries are pressured to ramp up their emissions reductions promises and showcase evidence they are taking steps to meet them. With Bitcoin mining blamed for using as much power as an entire country, and politicians searching for easy targets to strike, the industry appears to be on a collision course with these global commitments to achieve net-zero emissions. While it’s not possible to ban Bitcoin completely, lawmakers and regulators can tank the price and make life very difficult in…

Bitcoin (BTC) Mining Difficulty to Set New All-Time High This Week

An increase in difficulty means a decline in profitability for miners because their chances to win any single block, and bring in revenue, becomes slimmer. Marathon Digital Holdings (MARA), one of the biggest miners, noted that its monthly mined bitcoin was lower, month-on-month, as difficulty rose in April. Similarly, Canadian miner Bitfarms (BITF)’s fourth quarter slid to a loss due to higher difficulty. Source

The future of DeFi is ReFi

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The TradFi mindset is holding crypto back  The constantly evolving ecosystem of decentralized finance (DeFi) has emerged as a groundbreaking and experimental alternative to traditional finance (TradFi), demonstrating immense potential while simultaneously facing a myriad of challenges.  Paradoxically, some of the very behaviors that have long characterized TradFi — the prioritization of short-term profits, and extractive practices that benefit a few at the expense of the majority — have seeped into the world of DeFi, hampering the progress of this revolutionary technology towards its initial goals.  The detrimental impacts of…

What is fair use? US Supreme Court weighs in on AI’s copyright dilemma

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Generative artificial intelligence models such as OpenAI’s ChatGPT are trained by being fed giant amounts of data, but what happens when this data is copyrighted? Well, the defendants in a variety of lawsuits currently making their way through the courts claim that the process infringes upon their copyright protections. For example, on Feb. 3, stock photo provider Getty Images sued artificial intelligence firm Stability AI, alleging that it copied over 12 million photos from its collections as part of an effort to build a competing business. It notes in the…

Ark Invest’s Cathie Wood Calls Nvidia Valuations Stretched, Justifies Exit

Cathie Wood stated that NVDA stock is priced ahead of the curve and trading at 25X expected revenue for this year. Ark Invest‘s Cathie Wood, known for taking bold bets on new-age tech companies, has justified their exit from Nvidia (NASDAQ: NVDA) earlier this year. Last Wednesday, May 24, NVDA stock jumped by more than 20% in a single day moving closer to the $400 level. In her tweets on Monday, May 29, the ARK Innovation ETF (ticker ARKK) manager justified the exit from the stock. Wood added that the…