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Is the Bitcoin Hashrate Becoming Vulnerable to Geopolitical Risks?
According to MiningPoolStats, hash power commanded by the largest mining pools – a reasonable proxy for overall Bitcoin hashrate – shrank by a hefty 12.7% this week. The leading cause was a political event in Kazakhstan. “All About Bitcoin” fill-in host Galen Moore explains the data in Chart of the Day.
What to Expect From Federal Reserve's Confirmation Hearings, Bitcoin's Next Support Levels
After suffering the worst first week of the year since 2017, where will bitcoin go from here? CoinDesk Managing Editor of Markets Brad Keoun discusses bitcoin's next support levels, how far it could fall, and what to expect from Jerome Powell and Lael Brainard's confirmation hearings next week. Will crypto be on the agenda? Plus, Managing Editor of Technology Christie Harkin discusses the future of bitcoin's hashrate after a big disruption this week in Kazakhstan.
Civil Unrest Disrupts Bitcoin Mining in Kazakhstan
Intense protests in Kazakhstan over rising energy prices have led to a three-day-long internet shutdown, disturbing the global crypto mining industry as Chinese miners fled to the former Soviet state following the mining ban.
Norton Antivirus Criticized for Installing Crypto Mining Software on Computers
Last June, Norton launched a new feature called “Norton Crypto,” which enabled cryptocurrency mining on its LifeLock security software. Consumers are now concerned about energy consumption and difficulty disabling this function, while Norton claims it is opt-in. “The Hash” discusses Norton’s intentions with this feature as the software company will collect a 15% fee for all ETH mined and the broader issues of antivirus software.
Why GameStop Is Entering the NFT and Crypto Markets
In its continued effort to turn around the videogame retail chain, GameStop has announced its plans to launch a marketplace for NFTs while pursuing cryptocurrency partnerships.
India’s Crypto Exchanges ‘Inspected’ by Tax Agencies
CoinDesk Managing Editor for Global Policy & Regulation Nikhilesh De discusses an article by CoinDesk’s India-based Amitoj Singh, explaining why Indian tax agencies are pursuing five crypto exchanges for over Rs 84 crore ($11 million) in additional taxes. Plus, De draws comparisons between Indian and American tax policy.
Is 2022 the Year of Ethereum?
Global Innovation Leader at Ernst & Young Paul Brody discusses his CoinDesk article titled “2022 Is the Year of Ethereum,” offering insights into why Ethereum will become the dominant blockchain ecosystem. Brody explains how layer 2 solutions like Polygon resolve the issue of Ethereum’s gas fees and gives his perspective on competing projects like Solana and Cosmos.
How Soon Can Investors Get Out of Crypto’s ‘Sea of Red?’
IDX Digital Assets Chief Investment Officer Ben McMillan speaks on the current state of the crypto market as cryptocurrency prices seem to be more dependent on inflation rates and Fed policy.
Can Blockchain and NFTs Help Fight Climate Change?
Martin Wainstein, executive director of the Open Earth Foundation, discusses their #CARBONDROP NFT art auction that raised $6.6 million for environmental causes. Wainstein also discusses how blockchain can help create accountability for the Paris Climate Agreement and how layer 2 solutions like Polygon address the sustainability concerns regarding proof of work protocols.
ETH Price More Strongly Linked to BTC Than Ever
A chart featured in the 2021 CoinDesk Annual Review illustrates the 90-day return for bitcoin, ether, and macro assets. In this Chart of the Day report, Galen Moore reflects on bitcoin’s relationship with broader financial markets and ether’s dependence on the BTC price.