Tag: News

Central Bank Gold Demand Rose at the Fastest Pace in 55 Years, Analyst Says Silver Could Outperform Gold in 2023 – Bitcoin News

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According to a myriad of reports, the People’s Republic of China has been buying hoards of gold during the last year. Consequently, World Gold Council (WGC) statistics show the demand for gold by central banks has risen at the fastest pace in 55 years. Meanwhile, Wells Fargo’s head of real asset strategy, John LaForge, contends that when silver starts outperforming gold, it usually signals it is “closer to a bull market in precious metals versus the other way.” The World’s Central Banks Are Hoarding Large Sums of Gold, China Recently…

Venezuelan Banking Watchdog to Oversee Crypto Transactions to Preserve Currency Stability – Economics Bitcoin News

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Sudeban, the Venezuelan banking watchdog, is currently working on a mechanism to review crypto-related transactions in real-time to control the influence these have on the stability of the exchange market. Analysts have recently linked the situation in peer-to-peer (P2P) crypto markets to the recent drop in the value of the bolivar. Venezuelan Government to Monitor Crypto Transactions The Venezuelan government is aiming to monitor the the movements of crypto-based P2P exchanges to protect the value of the bolivar. On Dec. 20, the Venezuelan banking watchdog Sudeban explained that it is…

Dollar Loses to Digital Currencies in 2023, Former Russian President Medvedev Says – Bitcoin News

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Digital fiat currencies will spread next year while the U.S. dollar will be losing its status of global reserve currency, according to Russia’s former head of state. In a string of tweets, Dmitry Medvedev gave his two cents on what the future holds for the world, a “humble contribution,” as he put it, to the “wildest predictions” ahead of New Year’s Eve. Medvedev Sees World Bank Crashing, Musk in the White House and Expensive Oil The Bretton Woods monetary system will collapse next year causing the International Monetary Fund and…

Nigerian Central Bank Spent Over $1.8 Billion Managing Local Currency – Economics Bitcoin News

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During her appearance before Nigerian lawmakers, Aisha Ahmad, the deputy governor of the Central Bank of Nigeria (CBN), told lawmakers that out of the nearly $1.8 billion used to manage the local currency, over 90% of this total was reportedly used to fund expenses associated with the production of banknotes. The Growing Cost of Maintaining the Naira According to Aisha Ahmad, the deputy governor of the Central Bank of Nigeria (CBN), between the years 2017 and 2021, the apex bank spent an equivalent of nearly $1.8 billion, or 800 billion…

Nobel Prize Laureate Paul Krugman Compares Tesla to Bitcoin — They ‘Have More in Common Than You Think’ – Featured Bitcoin News

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Nobel Prize-winning economist Paul Krugman says Tesla may have more in common with bitcoin than you think. He explained that Tesla sales have depended in part on the perception that CEO Elon Musk “is a cool guy” while the price of bitcoin is “being sustained by a hard-core group of true believers.” Paul Krugman Compares Tesla to Bitcoin Paul Krugman, who won the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in 2008 for his analysis of trade patterns and location of economic activity, published an opinion…

While His Digital Trading Cards Tumble in Value, Trump Says His ‘Cute’ NFTs Were About the Art – Bitcoin News

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After climbing to a high of 0.79 ether on Dec. 17, 2022, Donald Trump’s non-fungible tokens (NFTs) have dropped considerably in value over the last 12 days. On Dec. 29, 2022, Trump’s NFT collection has a floor value of 0.15 ether, which is around 81% lower than the floor value highs recorded last week. Trump Digital Collectibles Slide Significantly in Value Since the Launch, After Looking at the Art Trump Was Pleased With His 30-Inch Waistline The 45th president of the United States, Donald Trump, recently released 45,000 non-fungible tokens…

BTC, ETH, ADA, BNB Ranked the Most Watched Crypto Assets in 2022 – Featured Bitcoin News

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Today’s top ten crypto assets make up a large portion of the crypto economy’s current $797.95 billion value on Dec. 29, 2022, and many of them are some of the most popular digital currencies today. While coin market capitalization aggregation sites allow patrons to add their favorite coins to a watchlist, between coingecko.com and coinmarketcap.com, bitcoin is the most watched top ten crypto coin in 2022 as it’s on approximately 4,848,865 watchlists today. The Top Ten Crypto Market Cap Coins in Terms of Watchlist Numbers As 2022 comes to an…

‘Ultra Sound’ Money — Simulation Shows Ethereum’s Inflation Rate Is Significantly Lower Using Proof-of-Stake – Bitcoin News

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Its been 105 days since Ethereum transitioned from a proof-of-work (PoW) blockchain to a proof-of-stake (PoS) network and the number of Ethereum validators is set to surpass 500,000 in 2023. According to metrics, Ethereum’s issuance rate of new coins has dropped considerably and only 4,790.45 ether has been minted since The Merge took place on Sept. 15, 2022. Ethereum’s Issuance Rate Is 0.014% per Annum in Contrast to the Simulated PoW Inflation Rate of 3.58% per Year The Ethereum (ETH) network has been operating under its proof-of-stake (PoS) consensus algorithm…

2 Bitcoin Mining Pools Command More Than 53% of BTC’s Total Hashrate – Mining Bitcoin News

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Bitcoin’s hashrate has jumped from the low 170 exahash per second (EH/s) recorded this week, to above the 300 exahash range after a number of bitcoin mining operations from Texas temporarily went offline on Dec. 25, 2022. Furthermore, three-day hashrate distribution statistics recorded on Dec. 29, 2022 indicate that two mining pools command more than 50% of the global hashrate. 2 Mining Entities Currently Produce More Than 50% of the Global Hashrate, Bitcoin Mining Difficulty Expected to Decline Significantly in 5 Days The computational processing power behind the Bitcoin (BTC)…