GameCredits, the $100 million blockchain network targeting 2.6 billion gamers worldwide with a universal cryptocurrency and virtual wallet, has recently sponsored Blockemon 2017 held on August 26. The event was the largest blockchain conference ever held in Serbia, participated by speakers and executives from multi-billion dollar technology conglomerates and blockchain leaders including IBM, Microsoft, Lykke, … Continue reading GameCredits Sponsors Largest Blockchain Conference in Serbia With Industry Leaders
GameCredits, the $100 million blockchain network targeting 2.6 billion gamers worldwide with a universal cryptocurrency and virtual wallet, has recently sponsored Blockemon 2017 held on August 26. The event was the largest blockchain conference ever held in Serbia, participated by speakers and executives from multi-billion dollar technology conglomerates and blockchain leaders including IBM, Microsoft, Lykke, … Continue reading GameCredits Sponsors Largest Blockchain Conference in Serbia With Industry Leaders
Hello and welcome to News BTC’s Market Outlook September 5. DASH/USD DASH fell apart over the weekend and going into Monday, as China has announced a ban on ICOs. This is caused a ripple effect throughout the crypto currency world, and crypto currencies are getting absolutely pounded. At the close on Friday, the markets were looking … Continue reading DASH/USD and LTC/USD Technical Analysis September 5 2017
Hello and welcome to News BTC’s Market Outlook September 5. DASH/USD DASH fell apart over the weekend and going into Monday, as China has announced a ban on ICOs. This is caused a ripple effect throughout the crypto currency world, and crypto currencies are getting absolutely pounded. At the close on Friday, the markets were looking … Continue reading DASH/USD and LTC/USD Technical Analysis September 5 2017
Hello and welcome to News BTC’s Market Outlook September 5. ETH/USD Ethereum has been falling precipitously against the US dollar as China has outlawed ICOs. This is a major step in governments taking back the power from crypto currencies, and it course has caused a significant amount of concern. On Monday alone, Ethereum has lost 16% … Continue reading ETH/USD and ETH/BTC Technical Analysis September 5 2017
Hello and welcome to News BTC’s Market Outlook September 5. ETH/USD Ethereum has been falling precipitously against the US dollar as China has outlawed ICOs. This is a major step in governments taking back the power from crypto currencies, and it course has caused a significant amount of concern. On Monday alone, Ethereum has lost 16% … Continue reading ETH/USD and ETH/BTC Technical Analysis September 5 2017
Hello and welcome to News BTC’s Market Outlook September 5. BTC/USD Bitcoin fell again on Monday, as the markets have learned that China has outlawed ICOs. This is a significant attempt by a government to step into the crypto currency arena, and that of course frightens a lot of traders. As you can see, the entire … Continue reading BTC/USD and BTC/JPY Technical Analysis September 5 2017
Hello and welcome to News BTC’s Market Outlook September 5. BTC/USD Bitcoin fell again on Monday, as the markets have learned that China has outlawed ICOs. This is a significant attempt by a government to step into the crypto currency arena, and that of course frightens a lot of traders. As you can see, the entire … Continue reading BTC/USD and BTC/JPY Technical Analysis September 5 2017
According to a recent interview with the Deputy Prime Minister of Russia, Yury Trutnev, Russia’s central bank has approved the country’s first cryptocurrency exchange, called “Voskhod.” Also read: Bitcoin Is Becoming a Popular Investment for Middle-Class Americans Russian Bureaucrat Claims the Central Bank Has Approved a Cryptocurrency Exchange Russia seems to be getting extremely close to […]
According to a recent interview with the Deputy Prime Minister of Russia, Yury Trutnev, Russia’s central bank has approved the country’s first cryptocurrency exchange, called “Voskhod.”
Russian Bureaucrat Claims the Central Bank Has Approved a Cryptocurrency Exchange
The Deputy Prime Minister of Russia, Yury Trutnev.
Russia seems to be getting extremely close to legalizing and regulating cryptocurrencies within the region. Last week news.Bitcoin.com reported on the Russian Deputy Finance Minister, Alexei Moiseev’s proposed bitcoin regulation, and the possibility of digital assets being listed on Moscow’s stock exchange. Now the country’s Deputy Prime Minister, Yury Trutnev claims the Russian Federation Central Bank has approved the first cryptocurrency trading platform for private investors.
“We are considering the possibility of creating a platform for trading with cryptocurrencies. The central bank has supported us,” explains Trutnev’s interview and further details;
The system “Voskhod” was the first in the country to receive the right to work with cryptocurrencies.
The Russian Energy Sector and Bitcoin Mining
In Trutnev’s latest interview, the Russian Deputy Prime Minister also spoke about bitcoin mining and the possibility of partnerships with the country’s energy sector. This follows the recent news of two of the nation’s energy companies, Evrosibenergo and Gazprom, possibly partnering with local bitcoin miners. Trutnev details there is an abundance of electricity in particular regions within the nation that could help the mining industry a great deal. Trutnev explains currently, energy companies have a hard time distributing the excess electricity.
“There are regions where there is an overabundance of energy — both here and in Siberia,” Trutnev details.
There is no way to redistribute this surplus to other regions, so you can create companies that will thus dispose of unconnected volumes of electricity, and people will be able to earn on this.
With the latest developments in the country, bitcoin just might be a legal form of payment in Russia after all the years of politicians being against cryptocurrencies. Senior government officials are clearly drawing up some sort of framework for the technology; it’s just a matter of when they decide to announce some formal legislation officially.
What do you think about the Russian central bank approving a cryptocurrency trading platform for private investors? Let us know in the comments below.
Images viaNikkei Asia and the Kremlin.
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Key Highlights ETH price fell hard and traded below the $300 handle against the US Dollar. There are two bearish trend lines forming with resistance near $320 on the hourly chart of ETH/USD (data feed via SimpleFX). The price might correct higher, but likely to face sellers near $300, $320 and $330. Ethereum price made … Continue reading Ethereum Price Technical Analysis – ETH/USD Under Pressure
Key Highlights ETH price fell hard and traded below the $300 handle against the US Dollar. There are two bearish trend lines forming with resistance near $320 on the hourly chart of ETH/USD (data feed via SimpleFX). The price might correct higher, but likely to face sellers near $300, $320 and $330. Ethereum price made … Continue reading Ethereum Price Technical Analysis – ETH/USD Under Pressure
The stock price of chipmaker Nvidia and the value of Bitcoin continue to skyrocket almost in sync. These two technology disruptors, in their respective fields, are propelling amazing technological and economic changes. Their significance is being clearly reflected in the financial markets, as the values of both NVDA and BTC reach all-time highs. Also read: […]
The stock price of chipmaker Nvidia and the value of Bitcoin continue to skyrocket almost in sync. These two technology disruptors, in their respective fields, are propelling amazing technological and economic changes. Their significance is being clearly reflected in the financial markets, as the values of both NVDA and BTC reach all-time highs.
Bitcoin and Nvidia’s Impressive Price Trajectories
Nvidia products and Bitcoin seem to be interrelated. Both are key elements that are powering the world’s transition to the 4th Industrial Revolution.
“Technology is changing the nature of relationships between industries and creating a new range of challenges. For example, technology is now interconnected with retail, healthcare, and banking,” according to a PWC report.
In this connection, then, is there some degree of correlation between the price trajectories of Nvidia stock and Bitcoin?
Nvidia stock is hovering at its highest-ever stock value. As of writing, a share of Nvidia is over US$170, up from less than US$20 in 2014. As shown in the chart below, Nvidia’s stock price climbed significantly when Bitcoin miners started to order graphics cards specifically tailored for cryptocurrency mining, causing Nvidia shares to jump in value.
Figure 1 – NVDA Price – Courtesy of Google Finance
No less impressive is Bitcoin’s price trajectory, which has been consistently and spectacularly ascending for the last eight months. And, on 1 September, Bitcoin’s value reached yet another all-time high, piercing the US$5,000 mark in the Asian markets.
Figure 2 Bitcoin Price- Courtesy of Google Finance
The paths of Silicon Valley’s Nvidia and Bitcoin intersected when Nvidia launched graphic cards specifically dedicated to cryptocurrency mining.
ASUS, the Taiwanese computer hardware and electronics consumer company announced launching the Nvidia based technology, such as ASUS Mining P106, recently. The advertisement reads, “ASUS Mining P106 is designed for coin mining with high-efficiency components – delivering maximum hash-rate production at minimum cost.”
Specifically, the demand for cryptocurrency mining products has caused Nvidia sales to rise 52%, representing $1.2 billion, Fortune reported on August 10, 2017.
The demand for mining cryptocurrencies has been so extraordinary that some Wall Street experts have started to fear that Nvidia’s price is now becoming too dependent on Bitcoin.
Bitcoin and Nvidia’s Role are Intertwined
Nvidia’s graphic processing units (GPUs) play a key role in developing artificial intelligence, driverless cars, drones, and robotics. These innovations, along with Bitcoin and the Internet of Things, are emblematic of the 4th Industrial Revolution.
Now, cryptocurrency miners are benefitting from Nvidia’s GPU technology.
Nvidia is celebrating the anniversary of the first GPU, GeForce 256, which was launched on August 31, 1999. This GPU transformed forever the way humans interact with computers. Nvidia defines a GPU as “a single-chip processor with integrated transform, lighting, triangle setup/clipping, and rendering engines that are capable of processing a minimum of 10 million polygons per second.” This technology enables the acceleration of deep learning, analytics, and engineering applications.
The market for driverless cars, artificial intelligence, virtual reality devices, drones, and robots is in its infancy and taking hold of the world fast. Similarly, the transformation of the monetary and banking system initiated by Bitcoin technology is also young and still being tested.
The ultimate impact of the dramatic changes that these new technologies bring is unknown. However, one thing we can be sure of is that the market for these innovations is not going to shrink in the near future. On the contrary, it will expand unimaginably. The skyrocketing prices of BTC and Nvidia are showing us just a tiny glimpse of a new economic model.
What are your thoughts about the relationship of Nvidia’s products and Bitcoin? Let us know in the comments below!
After the long-awaited activation of the Bitcoin network’s upgrade SegWit many questions quickly arose about when and how bitcoin users would start to enjoy its benefits.
Once wallets and users employ the new SegWit format, blocks can theoretically grow as large as four megabytes each. In practice, however, developers have stated that they’ll be more likely to see 1.7 to 2.1 megabytes blocks. 80 wallet developers, exchanges, pools, and other Bitcoin projects indicated that they were ready for Segwit prior to activation, out of a of 137 entities listed on bitcoincore.org.
After the long-awaited activation of the Bitcoin network’s upgrade SegWit many questions quickly arose about when and how bitcoin users would start to enjoy its benefits.
Once wallets and users employ the new SegWit format, blocks can theoretically grow as large as four megabytes each. In practice, however, developers have stated that they’ll be more likely to see 1.7 to 2.1 megabytes blocks. 80 wallet developers, exchanges, pools, and other Bitcoin projects indicated that they were ready for Segwit prior to activation, out of a of 137 entities listed on bitcoincore.org.
Key Points Bitcoin cash price declined sharply and broke a major support near $560 against the US Dollar. Yesterday’s highlighted a contracting triangle pattern with support at $580 on the hourly chart of BCH/USD (data feed from Kraken) was broken. The pair is now looking to settle below the $500 level, which would be a … Continue reading Bitcoin Cash Price Technical Analysis – BCH/USD To Break $500?
Key Points Bitcoin cash price declined sharply and broke a major support near $560 against the US Dollar. Yesterday’s highlighted a contracting triangle pattern with support at $580 on the hourly chart of BCH/USD (data feed from Kraken) was broken. The pair is now looking to settle below the $500 level, which would be a … Continue reading Bitcoin Cash Price Technical Analysis – BCH/USD To Break $500?
Latin American Site with Bitcoin Tipping Hacked – 28 Mln User Accounts Compromised CoinTelegraph Latin American social site Taringa, often called ‘Latin America’s Reddit’, has suffered a massive breach of user data. Login details for nearly all of the site’s users were compromised. The social site had instituted a system in 2015 to pay users for …
Latin American Site with Bitcoin Tipping Hacked - 28 Mln User Accounts Compromised CoinTelegraph Latin American social site Taringa, often called 'Latin America's Reddit', has suffered a massive breach of user data. Login details for nearly all of the site's users were compromised. The social site had instituted a system in 2015 to pay users for ...
According to a recent interview with the Deputy Prime Minister of Russia, Yury Trutnev, Russia’s central bank has approved the country’s first cryptocurrency exchange, called “Voskhod.” Also read: Bitcoin Is Becoming a Popular Investment for Middle-Class Americans Russian Bureaucrat Claims the Central Bank Has Approved a Cryptocurrency Exchange Russia seems to be getting extremely close to […]
The stock price of chipmaker Nvidia and the value of Bitcoin continue to skyrocket almost in sync. These two technology disruptors, in their respective fields, are propelling amazing technological and economic changes. Their significance is being clearly reflected in the financial markets, as the values of both NVDA and BTC reach all-time highs. Also read: […]
Nvidia products and Bitcoin seem to be interrelated. Both are key elements that are powering the world’s transition to the 
Nvidia’s graphic processing units (GPUs) play a key role in developing 
