Weekly Capsule

Capsule 34: From Determining the Mining Electricity Tariff to US Representatives’ Request for a National Digital Currency


After nearly two weeks, we are at your service with the new number of weekly capsules. The weekly capsule provides users with a summary of the events and important news of the past week. In the weekly capsule, we take a look at the market situation in recent weeks, and each week we will accompany you with an episode of the “21 Lessons I Learned from Bitcoin” series. From now on, wait for the new capsule number every Friday.

Important news of the week

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The electricity tariff for extracting digital currencies will be at the export rate!

Probably the most important news last week was the announcement of electricity tariffs for mining farms. As whispers were heard about the export electricity rate for the miners this summer, with the announcement of this news by Haji Reza Teymouri, CEO of the Tehran Electricity Company, the accuracy of the previous hearings was confirmed. Haji Reza Teymouri said that the electricity tariff of digital currency extraction centers will be calculated with the average price of export electricity in Rials and with the exchange rate of the Nima system. Teymouri also said about determining the task of the recorded devices that we have calculated the difference between their electricity consumption and 9 billion tomans have been received from the owners of these devices.

US delegates request to create a national digital currency

News of China’s digital currency supply made a lot of noise last month. Now it seems that it is the turn of the United States. Two members of Congress from both the Democratic and Republican parties, while expressing concern about the danger of the dollar losing ground, proposed the creation of a national digital currency. Interestingly, in the letter sent by these representatives, the details of the Federal Reserve’s authority, which plays the role of the central bank in the United States, are mentioned, according to which this institution can have the power to supply a national digital currency. Rumors of a weakening role of the dollar on the world stage have led even McCarney, the governor of the Bank of England, to point to national digital currencies and liberas as tools to break out of the dollar.

German Bank forecast: Bitcoin will reach $ 90,000 by 2020!

It may come as a surprise to hear that a bank has predicted a sharp rise in the price of bitcoin. The German state-owned bank Bayern Al-Ubi, in a report comparing bitcoin to gold, noted that the price of bitcoin will jump significantly next year and has estimated the figure at $ 90,000, taking into account the relevant calculations. The report discusses a parameter called the current accumulation rate, which has been high for gold for a very long time, and it seems that bitcoin has taken a similar path.

Beckett platform disappointing start in the first week

If you have been following the Bitcoin news, you must have heard of Beckett and his future contracts. Launched in early October, the platform performed disappointingly in its first week of operation. Beckett’s futures traded up $ 5.8 million in the first week. However, if we compare this figure for the early weeks of the Bitcoin futures market, we come to the strange figure of $ 460 million in CME futures. Of course, it is worth noting that Beckett started while Bitcoin seems to be at the beginning of a long-term uptrend, as well as Beckett’s different mechanism from other futures contracts in which only the dollar equivalent is settled at the maturity of the contracts. It has caused us not to see a strong beginning. The steady growth in the trading volume of this platform is the most important factor that can benefit the price of Bitcoin more than anything else.

Telegram digital currency will be available until mid-November

The network is set to launch in October (mid-November), according to an email sent by Telegram to Gram Digital Currency Investors. The message also states that investors have until October 16 to receive the public key to Telegram by receiving special software to receive the tokens they have purchased. The message states that Telegram and the TON Foundation will have no role in governing the Blockchain.

Winners and losers of the week

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After falling sharply in the digital currency market, Bitcoin stabilized last week at $ 7,700 to $ 8,500. Ethereum and Ripple, which are in second and third place in the market, respectively, followed last week in a relatively upward trend, unlike the King of Quinn. The total value of the digital currency market did not change much last week, adding only $ 4 billion. Bitcoin, Ethereum and Ripple are currently trading at $ 8,140, ​​$ 174 and $ 0.25, respectively.

Digital currencies that Most profitable Had this week:

  • Centrality digital currency: about 278%
  • Dentacoin digital currency: about 175%
  • Nasdacoin digital currency: about 111%

Digital currencies that The most loss Had this week:

  • DUO Network Token: About 78%
  • DEX digital currency: about 66%
  • QuickX Protocol digital currency: about 62%

Selected Quotes of the Week

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Ted Livingstone, CEO of Cake

We must continue on our way. Until all our money runs out and no one else is left in the company. We keep going this way, no matter how hard it is.

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Justin Sun, founder of Theron

Mr President! You have been misled by the wrong news. Bitcoin and the Blockchain would be the best thing that could happen to the United States. – Addressing Trump on Twitter

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Peter Schiff, Gold Investor

The risk of a sharp fall to the level of $ 4,000 or lower [برای بیت کوین] There is.

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Mark Zuckerberg, Facebook CEO

When we do things that are sensitive to the community, we want to talk to them, get advice from them, and get feedback so that the problems are fixed before they are done.

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Haruhiko Kuroda, Governor of the Bank of Japan

If Libera is introduced, it can have a great impact on society.

Negative news of the week

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Bainance stopped trading a number of its currency pairs

Bainance announced in a statement to its users that it was suspending trading in a number of currency pairs due to the low volume of trades, some of which sometimes reached less than $ 50,000 a day. According to the exchange, related projects have received this request from Bainance to improve the liquidity of these currencies. It should be noted that the removal of currency pairs does not mean the removal of these digital currencies from exchange offices.

It is unlikely that the dollar will dominate digital currencies

The negative remarks of a former US Federal Reserve official made headlines last week. Simon Potter, who now manages the New York Mercantile Exchange, has said there is no rationale for justifying the use of something as complex as digital currencies. According to Potter, central banks should be wary of private sector action on currency and economic issues.

The mining farm fire set the miner on fire for $ 10 million

Last week, a video was released in cyberspace showing a mining farm that was said to house a $ 10 million mine and owned by Inosilicon had caught fire. After this incident, some users expressed concern about the possibility of reducing the bitcoin network hash rate due to this incident.

Positive news of the week

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Lightning at its peak; The number of network nodes reached 10,000

According to statistics from the 1ML site, for the first time in the history of the Lightning network, the number of nodes exceeded 10,000. Lightning Network is a second layer bitcoin protocol that can be used for faster and more peer-to-peer transactions. Unlike the Bitcoin blockchain, there is no such thing as a wallet address on the Lightning network, and you can not see the balance of different people.

Mark Yusko: Bitcoin is like Amazon stock!

Mark Yusko, a senior investment executive, compared Bitcoin to Amazon shares in a recent comment, citing the steady rise in value of Bitcoin over time. “All network indicators and related values ​​are growing,” Yusco said with an optimistic view of Bitcoin price changes.

McAfee: Bitcoin scarcity raises its price to $ 1 million by 2020!

The controversial face of the world of digital currencies and their number one supporter once again insisted on your prediction. In an interview with Forbes, John McAfee defended the $ 1 million bitcoin forecast for 2020, citing the scarcity of bitcoins. McAfee estimates that more than 7 million bitcoin coins have been lost, and given that its creator does not have access to its bitcoins, a few million more must be added to the previous number, which reduces the total bitcoin supply to less than Is.

21 lessons I learned from Bitcoin

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Collection “21 lessons I learned from BitcoinThe personal experience of a Bitcoin lover is that he has prepared it in 21 fascinating sections. Every week in the weekly capsule, we will be with you with one of the sections of this collection. In issue 34 of the weekly capsule, we have gone to the fifth part of this series. To read the previous parts of this series, refer to the previous issues of the capsule.

A perfect concept

We all love fascinating stories about Genesis. The story of the birth of Bitcoin is a unique story whose details are more important than it seems at first glance. Who was Satoshi Nakamoto? Was it an individual or a group? Was she a woman? An advanced AI or space creature that travels in time? Aside from science fiction hypotheses, we will probably never get an answer to this question. And this is very important!

Satoshi chose to remain anonymous. He sowed the seeds of bitcoin and was present at the beginning of the project long enough to make sure that the network would not be destroyed in the first place. Until he suddenly disappeared.

What seems to be happening is that the masterpiece of anonymity was necessary to create a truly decentralized system. There is no central control and no centralized institution. No inventor, no one to be persecuted, tortured, silenced or threatened. What we have is a unique masterpiece of the perfect concept of technology.

One of the biggest things Satoshi did was make him disappear – Jimmy Song

Since the advent of bitcoin, thousands of other digital currencies have emerged. But none of them have their own story. If you want to get past bitcoin, you have to tell a better story than its origin. In war, it is ideas, stories, and narratives that signify survival.

Gold first entered the jewelry industry and was used in trade for more than 7,000 years. Its captivating radiance led to it being considered a gift from the gods. – The book “Gold: Extraordinary Metal”

Like gold in ancient times, bitcoin may be considered a gift from the gods. Unlike gold, the story of the origin of bitcoin is made entirely of humans. But this time we know who the gods of development and maintenance are: people from all over the world, whether they are anonymous or not.

Bitcoin taught me that stories and stories are important.

Featured Articles of the Week

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What is phishing and how to prevent it?

Entering any post and link can have unpleasant consequences for you. Scammers use phishing scams to gain access to victims’ information and assets. In this article, we will introduce phishing in full, along with the tricks that scammers use to mislead users, and we will also teach you how to prevent it.

Extraction with graphics card; The experiences of a minor

Do you want to extract digital currency with your graphics card? This article reflects on the experiences of a minor and the challenges they face and answers your questions.

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