We All Need to Stop Only Seeing the Dark Side of Crypto

Popular perception in the developed world remains that crypto is at best the domain of meme-conversant Wolf of Wall Street-like figures and at worst of drug dealers. Regulators and policymakers seem to partially share that belief, as crackdowns and strict regulations are announced across the globe from China to Turkey to the US. And yet in the Global South more and more people are choosing to use a technology designed to help them keep their wealth safe from confiscation, tyranny, or arbitrary restrictions. Whatever you think of crypto, its role as a force for good in some parts of the world should not be ignored.

US leads Bitcoin mining as China ban takes effect

Miners earn money by creating new Bitcoins, but the computing power needed to do it consumes large amounts of energy.

They audit Bitcoin transactions in exchange for an opportunity to acquire the digital currency.

Global mining requires enormous computing power, which in turn uses huge amounts of electricity, and consequently contributes significantly to global emissions.

The CBECI, which is produced by the Cambridge Centre for Alternative Finance, tracks the geographic distribution of computing power used for mining Bitcoin – receiving data from a number of commercial Bitcoin mining pools.

The latest data, which covers the four months to the end of August, suggests that most Bitcoin mining (35.4%) is now US based, with Kazakhstan (18.1%) second and Russia (11%) third.

Is Dogecoin Stabilising After the Latest Crash or Will It Drop Even Further?

Dogecoin has been the favourite cryptocurrency of the Internet in recent months, with wild rises in its price. But things changed after peaking around the start of this month, and it’s been in freefall since. However, although small drops continue (including fairly sharply in the last few hours) prices are starting to look a little more stable now, and are still high compared to the period before April this year.