Kategorie: Bitcoin News

• TBC and Riot Platforms sue EIA over Bitcoin data demands, alleging intrusion.
• Senator Warren’s involvement is seen as part of a broader political strategy.
• Bitcoin mining faces scrutiny for energy consumption, environmental impact.

In a bold move against the US Energy Information Administration (EIA), the Texas Blockchain Council (TBC) and crypto miner Riot Platforms have filed a lawsuit, alleging unlawful data collection demands targeting the Bitcoin mining sector.

EIA’s data collection plan 

Last month, the EIA announced plans to collect data on electricity consumption by certain US-based crypto miners, effective from early February. Commercial miners were mandated to disclose intricate details, including the types of machines used and the locations of their mining operations. The controversial move followed an emergency approval from the Office of Management and Budget on January 26.

We’re initiating collection of data regarding #electricity use by US #cryptocurrency miners.

We’ll ask about their electricity consumption so we can better understand their energy demands.

👉https://t.co/gYpZgtiD6J pic.twitter.com/pQ9ULoLAAU

— EIA (@EIAgov) January 31, 2024

TBC, a non-profit association, expressed concerns over the sensitive nature of the information requested, fearing potential public disclosure. The council sees this as a direct assault on private businesses, characterizing it as a political manoeuvre under the guise of an emergency.

The TBC points fingers at Senator Elizabeth Warren and the Biden administration, accusing them of orchestrating a targeted effort against the digital asset industry. The EIA’s push for oversight is viewed as an intrusion and a worrying escalation in monitoring and regulating the cryptocurrency sector.

As part of a broader strategy, Senator Warren and other Democratic lawmakers had previously urged major US crypto mining companies to disclose their energy usage. The current legal action represents a firm industry backlash against what is perceived as increased regulatory scrutiny.

Bitcoin Mining realities and environmental considerations

The EIA, in a report dated February 1, highlighted a significant jump in annual electricity consumption by crypto miners, from 0.6% to 2.3%. Despite the benefits of Bitcoin mining, such as network decentralization and profit opportunities, the industry faces growing scrutiny due to its environmental impact.

The Rocky Mountain Institute estimates global Bitcoin mining consumes around 127 terawatt-hours annually. This has sparked debates about the environmental sustainability of the industry. Proponents argue that compared to traditional sectors like banking, Bitcoin’s energy usage is relatively lower, but critics remain concerned about its contribution to global energy consumption.

As the legal battle unfolds, the cryptocurrency industry finds itself at the crossroads of regulatory pressures and environmental accountability, navigating the delicate balance between innovation and responsibility.

The post Riot Platforms and Texas Blockchain Council challenge EIA’s Bitcoin Mining data demands appeared first on CoinJournal.

MicroStrategy CEO Michael Saylor has been touting Bitcoin (BTC) as one of the best cryptocurrencies to invest in right now, even going as far as to predict prices will reach a million dollars in the coming years. BTC prices have increased by 24% in the past month, breaking the $52,000 resistance level for the first time since December 2021. 

Assets managers have now been cleared to launch spot ETFs by the US Securities and Exchanges Commission (SEC), and that’s expected to bring in a few trillion dollars into the cryptocurrency space. 

Investing in BTC ETFs is getting lots of hype right now, but InQubeta (QUBE) will probably outperform it this year, much like it did in 2023. The interesting emerging crypto takes on mainstream investment channels by providing a decentralized investment space that makes artificial intelligence (AI) investments accessible to all.

InQubeta (QUBE) expected to take off after presale

Over $9. 9 million has been raised so far as InQubeta’s presale prepares to enter the eighth stage. Early investors have already earned 220% returns on their capital and they’ll be up 440% by the time tokens are unleashed on exchanges. 

The services InQubeta plans to deliver give it the potential to be one of the best DeFi projects ever launched given the huge problem of investors not having access to traditional investment mediums. With InQubeta, anyone can now invest in AI and position themselves to earn generational wealth thanks to the secure investment space it offers. 

The AI industry is growing rapidly right now and so have investments in the technology, with over $120 billion currently backing the technology. Investments in AI are anticipated to exceed $1.5 trillion in the next several years, positioning AI-focused firms and cryptocurrencies that provide solutions to enjoy exponential growth. 

Here’s how InQubeta’s investment space works:

• AI startups make non-fungible tokens that signify reward or equity-based investment opportunities. An NFT is an asset tokenized on a blockchain. On the InQubeta network, these represent investment opportunities, just like stocks
• Investors obtain equity in AI firms by purchasing their NFTs, entitling them to all the rewards pledged on their tokens
• Investors can resell their tokens whenever they choose or hold on to them for as long as they want

Buying and holding QUBE could end up being just as rewarding as investing in AI. QUBE is underpriced at its current price of $0.0224, but prices could reach a few dollars in a couple of years as its market cap expands. 

Michael Saylor’s interesting way of viewing Bitcoin (BTC) prices

Michael Saylor recently tweeted “Bitcoin price is still less than $0.05 million,” encouraging his followers to invest in the popular cryptocurrency because of its massive upside potential. He’s certain that it’s only a matter of time before BTC prices reach a million dollars, which would make its current $52,000 prices extremely cheap. 

Bitcoin’s price movements have been trending upward for the past month, increasing by 24%. BTC’s halving event, which is scheduled for April, should help to sustain its current bull run as has historically been the case with its halving events. 

Many analysts expect BTC prices to go as high as $160,000 this year, making it one of the best coins to invest in. Slayer views Bitcoin as an institutional asset and expects prices to set new highs this year. 

Conclusion

BTC is expected to enjoy as much as 400% gains, and QUBE prices are projected to also surge once released on exchanges. 

The solutions InQubeta provides to investors and emerging AI firms position it for considerable long-term growth.  For more information about the InQubeta presale, visit InQubeta Presale or join the InQubeta Communities.

The post Saylor’s $1M Bitcoin vision vs. today’s sub-$60k reality; emerging AI low-cap gem ready for takeoff appeared first on CoinJournal.

Former BitMEX Chief Arthur Hayes recently made waves in the crypto world with his bold prediction that Bitcoin is set to reach $70,000 in the near future. This optimistic forecast comes amidst a flurry of excitement surrounding the world’s most popular cryptocurrency. 

With Bitcoin already gaining significant momentum in recent years, Hayes’ projection suggests that the digital asset is poised for even greater growth. For investors seeking the top crypto coins and the best cryptocurrency investments, this news may signal an opportune moment to dive into the market.

Bitcoin bullish outlook

Hayes outlined several factors contributing to his bullish outlook on Bitcoin. He anticipates that the cryptocurrency will experience a surge in value, driven by various catalysts including potential financial crises and the impact of the Bitcoin halving event. 

Moreover, the potential introduction of spot BTC exchange-traded funds (ETFs) by major asset managers in key markets like the US, Europe, and China could further propel Bitcoin’s ascent. With Bitcoin emerging as the king of cryptocurrency, investors are keeping a close eye on its trajectory.

The rise of BONK

In addition to the excitement surrounding Bitcoin, it’s worth mentioning the emergence of BONK, the first dog-themed coin on Solana. With its launch on December 25, 2022, BONK quickly gained attention within the crypto community. 

Similar to memecoins like Shiba Inu and Dogecoin, BONK aims to bring liquidity back to Solana-based decentralized exchanges. As investors continue to explore the best cryptocurrency investments, BONK presents a unique opportunity to be part of an innovative project in the ever-evolving world of crypto.

The rise of Rebel Satoshi

While Bitcoin continues to dominate the headlines, another cryptocurrency has been quietly gaining traction in the market. Rebel Satoshi, a new player in the crypto space, is positioning itself as a formidable competitor to the likes of Bitcoin. With over 200% growth forecasted, Rebel Satoshi offers investors an alternative avenue for potential returns. As interest in memecoins and altcoins continues to soar, Rebel Satoshi stands out as one of the best memecoins to watch.

Rebel Satoshi ($RBLZ) distinguishes itself by offering users the chance to explore 9,999 unique NFTs, showcasing exclusive digital art and collectibles. The project aims to create a vibrant marketplace where users can trade unique assets and embrace the rebellious spirit of Rebel Satoshi and The Recusants. With each asset representing distinct features and roles, investors have the opportunity to be part of a groundbreaking project that is reshaping the crypto landscape.

The Rebel Satoshi presale

As the Rebel Satoshi presale enters its final phase, investors have a limited opportunity to secure their stake in this groundbreaking project. With only 25 million $RBLZ remaining for this round, the clock is ticking for those looking to be part of the Rebel Satoshi ecosystem. 

Built on the Ethereum network, one of the most secure blockchains in the crypto space, Rebel Satoshi is among the best crypto investments to consider at this moment in time.

Conclusion

The cryptocurrency market is abuzz with excitement as Bitcoin aims for new heights and Rebel Satoshi emerges as a formidable competitor. With the Rebel Satoshi presale offering a limited opportunity for investors, now is the time to consider joining the ranks of cryptocurrency enthusiasts and exploring the best crypto investments available. 

Whether it’s Bitcoin, BONK, or other emerging players like Rebel Satoshi, the world of cryptocurrency offers endless possibilities for those willing to take the plunge into this exciting new frontier.

For the latest updates and more information on the Rebel Satoshi presale, visit the official Rebel Satoshi Presale Website or contact Rebel Red via Telegram.

The post Bitcoin to reach $70,000, says former BitMEX chief; growth forecasted for Bonk competitor appeared first on CoinJournal.

Key takeaways

• Fundstrat’s Tom Lee believes that BTC’s price could hit $150k this year.

• Bitbot’s presale is now in the fourth stage and has already raised more than $650k.

Bitcoin could reach $150k in 2024: Tom Lee

The cryptocurrency market has been bullish since the start of the year, with Bitcoin touching the $50k level for the first time since 2021. With the bulls currently in control, many believe that BTC’s price could soar higher in the coming months.

FundStrat head of research Tom Lee is one of those bullish analysts and he predicted that the leading cryptocurrency could touch $150,000 before the end year. If BTC’s price could triple in the coming months, this could be an excellent opportunity for investors to acquire more assets.

One of the gems that could record massive gains in the coming months and years is Bitbot. This project will leverage the growing trading volume in the market to gain massive adoption.

What is Bitbot?

Before investing in the project, it is best to know what it is and understand how it works. Bitbot is a Web3 project that is set to provide excellent services to cryptocurrency traders.

It is a Telegram trading bot that grants users access to some exciting features, easing their crypto trading journey. Bitbot is a self-custodial trading bot that enables users to trade via their cold wallets on Telegram.

The project offers a unique value proposition to users and investors. It will take advantage of Telegram’s position as a leading social media platform for crypto users.

According to the whitepaper, Bitbot will provide users with high-end features to help them grow their trading portfolios. These features are institutional-grade and will grant traders access to world-class trading functions.

Bitbot will also leverage the rising trading volume in the cryptocurrency market to gain massive adoption in the coming months and years. More retail and institutional investors are coming into the market and Bitbot could provide exciting services to them.

Bitbot’s tech-savvy approach to trading

As a tool, Bitbot will be offering tech-savvy tools to ease the trading process for its users. The team is working on some tools that would ease the trading process for its users.

Per their whitepaper, security is the primary focus of the Bitbot tool. The tool will use Knightsafe to offer a self-custody solution, mitigating the typical risks associated with Telegram trading.

In addition to that, some of the funds raised from the presale rounds would be deployed towards developing anti-MEV and anti-rug solutions for users to protect their assets. With these features, traders can protect themselves from bots artificially pumping transaction costs and block scam projects.

Furthermore, Bitbot will utilize ultra-flexible wallet management powered by non-custodial API technology to provide an added layer of security to the users.

To help the new traders, Bitbot will also launch a copy trading feature. With this feature, novice traders can copy the trades of the strongest-performing wallets based on on-chain activities.

Bitbot’s presale surpasses $650k

The Bitbot presale is now officially in the fourth stage and has already raised more than $650k. At the moment, the project has raised $667k of the required $862k for this stage.

Bitbot continues to gain adoption by investors as its presale is moving fast. Currently, the $BITBOT token is going for $0.0116 but is set to increase to $0.0122 once the fifth round commences.

Per its tokenomics, the development team will hold 20% of the total token supply and will use it to fund ongoing development. Furthermore, 14% of the total token supply is allocated to marketing & CEX listings while 3% is allocated to exchange liquidity provision.

Click here to read more about Bitbot’s upcoming presale.

Could Bitbot’s token be a winner this year?

The crypto market is expected to rally higher this year and gems could be the biggest winners. With the right level of adoption, Bitbot could be one of the biggest winners in this bull cycle. The Bitcoin halving and other external factors could also help push Bitbot’s price higher

The post Tom Lee predicts Bitcoin’s price to hit $150k this year: Is this the time to buy more? appeared first on CoinJournal.