Ep. 165 Bitcoin is "easy"
On this episode of the Unhashed Podcast, learn about Chinese Bitcoin mining continuing in secret, Ledn launching the world’s first Bitcoin Mortgage, Gwyneth Paltrow selling BTC to the Goop group, Russia (maybe sorta) banning Bitcoin, and NFTs just keep NFTing.
Although Beijing exiled its crypto miners in May and then doubled down on its mining ban in September and again in November, multiple sources tell CNBC that as much as 20% of all the world’s bitcoin miners remain in China. This is well off its peak of around 65% to 75% of the global market, but it is substantially more than an official estimate from Cambridge University that puts China’s current share at 0%. Data from Chinese cybersecurity company Qihoo 360 shows that underground crypto mining appears to be alive and well in China. In a November report, the research group estimated that there are an average of 109,000 active crypto mining IP addresses in China on a daily basis. Most of those addresses, according to the report, are in the provinces of Guangdong, Jiangsu, Zhejiang, and Shandong. Crypto mining has survived in China, in part, because lot of miners weren’t sure whether Beijing was actually serious about the ban. China has repeatedly lashed out against digital currencies, but each time, the sting wore off, and the rules eventually softened. The country’s announcement this spring that it would be cracking down on crypto mining dovetailed with the centennial of the founding of the Chinese Communist Party, a time when there was pressure on lawmakers to show strength. Some miners – especially smaller-scale operators who didn’t have the resources or the connections to migrate abroad – figured a lot of the crypto talk by the government was bravado, so they powered down, laid low for a few weeks, and then came back online, taking a few extra precautions when they did. – https://www.cnbc.com/2021/12/18/chinas-underground-bitcoin-miners-.html
Ledn announced Series B round and the world’s first Bitcoin Mortgage. “By combining the appreciation potential of Bitcoin with the price stability of real estate, this first-of-its-kind loan offers a balanced blend of wealth-building collateral. With the Bitcoin Mortgage, you can use your holdings to buy a new property, or finance the home you already own. Get a loan equal to your Bitcoin holdings, without selling a satoshi.” – https://mortgage.ledn.io/
Actress Gwyneth Paltrow has come out to support Bitcoin, saying she wants people to “understand how easy it is.” Shortly after making that statement, Paltrow announced she is teaming up with payment provider Cash App to giveaway $500,000 in BTC to her social media followers. Although Paltrow is a somewhat established crypto advocate, having been involved with Abra Wallet since 2017 and more recently investing in Bitcoin mining firm TeraWulf, she is better known as a promoter of her snakeoil health and wellbeing brand, goop, where they sell vagina scented candles. – https://twitter.com/BitcoinMagazine/status/1473008579816919051
From Bloomberg, The Russian central bank wants to ban investments in cryptocurrencies in Russia, seeing risks to financial stability in the rising number of crypto transactions, two financial market sources close to the bank said….The central bank is now in talks with market players and experts about a possible ban. If approved by lawmakers, it could apply to new purchases of crypto assets but not to those bought in the past, said one of the financial market sources, who requested anonymity due to the sensitivity of the matter. – https://www.reuters.com/markets/currencies/russian-cenbank-seek-ban-investment-cryptocurrencies-sources-say-2021-12-16/
The company behind four major Washington, D.C.-based professional sports teams has announced FTX US will be its official crypto exchange and nonfungible token partner. In a Monday announcement, Monumental Sports and Entertainment, or MSE, said FTX US would be the official crypto partner of the Washington Capitals hockey team, the Washington Wizards men’s basketball team, the Washington Mystics women’s basketball team and the Capital City Go-Go basketball team as part of a multi-year deal. According to MSE, FTX US’ NFT platform will have exclusive rights to future token drops by the four teams and the exchange will be a partner for an in-game highlight series, dubbed “Big Block-Chain.” – https://cointelegraph.com/news/crypto-exchange-ftx-us-partners-with-four-washington-dc-sports-teams
https://twitter.com/BitMEXResearch/status/1473301683245662208
https://twitter.com/BitMEXResearch/status/1473302804672487426
https://twitter.com/BitMEXResearch/status/1473302155520094210