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Bitcoin miners have had a challenging year as the network’s mining difficulty reached an all-time high and the spot market price of bitcoin dropped below the cost of production. Currently, with electricity costs at $0.07 per kilowatt-hour (kWh), only 18 application-specific integrated circuit (ASIC) bitcoin mining rigs are able to turn a profit at current prices. Current SHA256 ASIC Models Unprofitable at $0.12 per kWh, Only Two Devices Profitable at $0.10 per kWh On December 31, 2022, statistics show that bitcoin’s hash rate is hovering above the 300 exahash per second (EH/s) range after reaching a low on December 30 at 235 EH/s. Additionally, data from macromicro.me indicates that the current cost of production ($16,577) is nearly equal to bitcoin’s current spot market value ($16,572). Currently, the cost of BTC production according to macromicro.me data shows the current spot market value is near-equal. Macromicro.me calculates the cost of production by ...

Disclaimer: The Industry Talk section Features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com C+Charge is a new blockchain-based protocol that seeks to reward electric vehicle owners for charging and using their cars. Its native token, CCHG, is available on presale, and this article explains how to purchase it.   Revolutionizing the EV Space Over the past few years, there has been a significant surge in the use of electric vehicles worldwide. The EV industry has emerged as the eco-friendly alternative to the traditional automotive space, which has been yearning for a change. Thanks to companies like Tesla, Rivian, and more, people can purchase EVs and be a part of the green revolution.  However, even with the growth of EVs worldwide, the space remains ripe for disruption. C+Charge is looking to bring the benefits of blockchain technology to the EV space, incorporating the concept of carbon credits into...

LUNC, the native token to the original Terra blockchain, which is called Terra Classic, is an underperformer on Thursday, nursing losses of about 5.5% in the last 24 hours. LUNC/USD was last changing hands in the mid-$0.00014s, down about 20% from its earlier weekly highs above $0.00018, but still up about 15% from monthly lows in the $0.000127 area. LUNC pulls back sharply from 200DMA. Source: TradingView LUNC’s abrupt turnaround in recent days comes after the cryptocurrency failed to sustain an attempted push to the north of its 200-Day Moving Average. The fact that the cryptocurrency has now dipped under its 21 and 50DMAs as well suggests the near-term technical outlook might not look too great. But there is some reason to be optimistic and, as a result, near-term price predictions shouldn’t be too pessimistic. Price Prediction – Can LUNC Rally in the Short Term? LUNC’s latest pullback has seen it fall back to come close to testing a downwa...

MicroStrategy’s Lightning Network solutions include Satoshi-powered incentives for marketing and website cybersecurity. MicroStrategy executive chairman Michael Saylor has shared his firm’s plans to release Bitcoin Lightning Network-powered software and solutions in 2023. In a recent Twitter Spaces on Dec. 28, Saylor shared that the company is exploring software and solutions that utilize the Lightning Network, such as solutions that “support” enterprise marketing as well as a cybersecurity solution aimed at corporate websites. The Lightning Network is a layer-2 payment protocol layered on top of Bitcoin’s Blockchain that allows for off-chain transactions, raising payment throughput and lowering transaction fees. The business intelligence and tech company, known for its massive Bitcoin holdings, has been looking to beef up its Lightning Network-versed team, most recently announcing it was looking to hire a Bitcoin Lightning Software Engineer to build a Lightning Network-based software...

Disclaimer : The Industry Talk section Features insights from crypto industry players and is not a part of the editorial content of Cryptonews.com. Bitcoin’s climb since its emergence in 2009 has turned cryptocurrency from an internet niche into a global sensation. One unit of Bitcoin is currently valued at over $16,000. Naturally, it makes everyone yearn for the days when it could be obtained easily through mining or trading. But can you earn Bitcoin for free? This article will look at some of the most inventive ways to earn free rewards in 2022 and beyond.  10 Top Methods to Earn Free Bitcoin At present, there are still numerous strategies for investors to earn free Bitcoin -  here are the ten most effective methods to consider: Participate in Bitcoin Games at the Lucky Block Casino Participate in Bitcoin Mining Take Part in Bitcoin Trading Join Bitcoin Lending Platforms Participate in Bitcoin Staking Take Part in Crypto Airdrops Participate in Bit...

When evaluating the crypto market, Bitcoin Jack looks at multiple components from a self-made list, basing his analysis more on timing than specific price levels. Well-known Twitter personality Bitcoin Jack, who tweets as @BTC_JackSparrow, joined Cointelegraph’s Crypto Trading Secrets Podcast for an interview, which was recorded on Dec. 19. Jack covers many topics in the episode, including how he looks at the crypto space and prioritizes timing over price levels — “when” over “where.” Jack analyzes the crypto market based on a self-made list of possible risk factors.  “When I look at ‘when,’ I’m trying to figure out what’s going on and what I want to see in the market to happen before I kind of think that the list of risks dissipate out of the market enough,” he explained when answering a question about Bitcoin’s (BTC) price at the time of recording. Jack mentioned that he maintains a personal list that includes crypto industry entities, global economic factors and other component...

The remaining workforce is also expected to take 20% pay cuts, the project's founder said. Octopus Network, a decentralized app chain network natively built on NEAR Protocol, has announced that it will be “refactoring” to adapt to current market conditions.  As part of its refactoring process, Octopus network will let go of roughly 40% of its team, which accounts for 12 out of 30 members. The remaining staff will also be subjected to a 20% salary cut, while its team token incentive will be suspended indefinitely. According to Louis Liu, the founder of the Octopus Network, although he has lived through previous crypto winter s, “this winter is very different from the others.” Liu said he anticipates that this current “ crypto winter will last at least another year, perhaps much longer,” adding that “most Web3 startups will not survive.” To survive the crypto winter , the founder also shared that in addition to layoffs and pay cuts, the network will have to undergo a strategy...

Pokémon Company International has taken an Australian company to court over advertising an unlicensed NFT-based Pokémon game and HSBC has filed for a host of NFT and Metaverse trademarks. NFT-friendly Japanese gaming giant Square Enix has invested 7 billion yen ($52.7 million) into game developer Gumi to create “high-quality” mobile games, blockchain games and a Metaverse initiative, among other things. Gumi mobile games: Gumi According to a translation of the press release, the partnership will help Gumi tap certain intellectual property from Square Enix, while it has also teased that the duo could be teaming up for a game-NFT-focused marketplace. “We are already considering the establishment of a platform dedicated to blockchain games and an NFT marketplace, etc. Through collaboration between the two companies, we will provide a one-stop service from the development and distribution of blockchain games to the sale and distribution of tokens and NFTs.” The company also outlined plan...

The last 12 months have been tough on digital currency investors as the crypto winter has caused a large sum of value to leave the once-bustling economy. The privacy coin economy, for instance, shed more than 55% against the U.S. dollar as it dropped from $11.7 billion in Jan. 2022 to the current $5.22 billion. Privacy Economy Loses 55% Against the Greenback, European Union Looks to Ban Anonymizing Cryptos Privacy coins are not talked about like they used to be. These days, the hype and discussions surrounding decentralized finance (defi) and non-fungible tokens (NFTs) have eclipsed privacy coin conversations. Furthermore, during the last 12 months, the privacy coin economy has dropped from $11.7 billion to today’s $5.22 billion. Last January, the top two privacy tokens included monero (XMR) and zcash (ZEC). At the time, monero was the largest privacy coin by market cap and still is today. In Jan. 2022, XMR’s price was around $202.97 per unit and it had a market valua...

According to the FEC, DataVault will receive “reasonable compensation” for each NFT issued to contributors, as well as track all tokens issued for its own records. The United States Federal Election Commission (FEC) has issued an advisory opinion stating DataVault Holdings may use nonfungible tokens for fundraising efforts. In a Dec. 15 notice, the FEC said it was “permissible” for DataVault holdings to send nonfungible tokens, or NFTs, to political campaign contributors without violating rules on corporate contributions. According to the election agency, DataVault will receive “reasonable compensation” for each NFT issued to contributors, as well as track all tokens issued for its own records. “The Commission concludes that DataVault’s proposals to provide political committees with NFTs on the same terms that it regularly offers its non-political clients would be a permissible extension of credit by DataVault in the ordinary course of business,” said FEC chair Allen Dickerson. “Unde...

While some governments continue bashing crypto, some industry executives argue that crypto could be beneficial for CBDCs. Cryptocurrencies like Bitcoin (BTC) could potentially find some mutually beneficial interactions with Central Bank digital currencies (CBDCs), according to one industry executive. While crypto is often associated with financial freedom, the concept of CBDC is frequently seen as the exact opposite. But this doesn’t mean that there cannot be a balance between the two, according to Itai Avneri, chief operating officer and deputy CEO at the crypto trading platform INX. CBDCs and regulated crypto currencies could potentially complement each other in the future as the two types of digital currencies have their own benefits, Avneri said in an interview with Cointelegraph on Dec. 22. Comparing CBDCs to regulated primary offerings, Avneri suggested that allowing or enabling crypto funds to participate in such offerings would be beneficial for both sides. That would specific...

Analysts expect the bear market to loosen its grip in 2023. Here are five cryptocurrencies to keep an eye on. It has been a tumultuous year for the crypto investors who have witnessed the total crypto market capitalization tumble from about $2.2 trillion at the beginning of 2022 to about $850 billion in December. The sharp erosion in valuation was caused due to several high-profile bankruptcies in 2022. The entire Terra ecosystem imploded with the collapse of its LUNA token and TerraUSD (UST) stablecoin. The failure of Three Arrows Capital followed this black swan event, and the final blow came as FTX underwent a bank run and imploded. These back-to-back events triggered a liquidity and credit crunch and appear to have caused the most damage to the crypto industry. A prolonged bear market tends to test investors’ patience, but it offers one of the best opportunities to buy fundamentally sound cryptocurrencies at lower levels. Smart investors who can go against the herd and invest duri...