Despite significant variations in electricity rates and regulations, the Asian region as a whole has the lowest average cost of bitcoin mining for solo miners, new research shows. At the same time, the surge of energy prices due to Covid, heatwaves, and the war in Ukraine render bitcoin mining largely unprofitable throughout Europe. Mining 1…
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Bitcoin price strength continues into a weekly close that analysis says should stay above $30,000. Bitcoin (BTC) tapped $31,000 for a third time this year on June 25 as the weekly close promised volatility. BTC/USD 1-hour chart. Source: TradingView BTC price challenges $31,000 Data from Cointelegraph Markets Pro and TradingView showed BTC price movements focusing…
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Living in the chaos of a deep crisis, people in Lebanon have been turning to cryptocurrency, a new media report has confirmed. From earning much needed income through mining and work, to storing wealth and paying in stores, bitcoin, tether and other cryptos have started to push aside the hyperinflated Lebanese pound and the hard-to-get-hold-of…
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A Bitcoiner used his wedding day to share his love for his favorite digital currency, Bitcoin, by gifting 4,000 Satoshis to every guest and incorporating a volcano theme. A Bitcoin (BTC) evangelist in Lebanon took their love for Bitcoin to the next level. Said Nassar, an international business engineer, themed his wedding day around Satoshi…
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Lebanon’s central bank governor says the country, whose lira has been in freefall, is preparing to launch a digital currency in 2021. Lebanon’s central bank plans to launch a new digital currency in 2021 as part of a broader effort to combat a parallel economic and financial crisis that has engulfed the country. Central bank…
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Blockchain technology has the potential to bring transparency to the deployment of financial aid. Israeli blockchain startup Orbs has published an open letter to French President, Emmanuel Macron. This letter promotes the use of blockchain technology to manage foreign aid following the tragic explosion in Beirut on August 4. Blockchain’s transparency and accountability could help…
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A deepening monetary crisis has seen Lebanon’s national currency plummet a further 50% over the last ten days to reach parity with a single satoshi. Lebanon’s national currency continues to shed value amid the country’s deepening monetary crisis, with unofficial reports indicating that the Lebanese pound, or lira, has lost 50% of its purchasing power…
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A spiralling currency crisis in Lebanon sparked widespread protests targeting central banks an increasing embrace of digital assets. Protesters in Lebanon have set fire to the central bank in Tripoli in a show of anger with the country’s deepening economic crises and stagnant political orthodoxy. Joyce Karam of United Arab Emirates-based media outlet TheNational reported…
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An enormous disparity between the market value and the official peg of Lebanon’s lira has resulted in chaotic pricing on Localbitcoins. With Lebanon’s currency hitting new record lows of 4,000 Lebanese lira (LBP) per $1, chaotic prices are being listed by Lebanese Localbitcoins traders. As of this writing, spreads between listings on both sides of…
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Banks have already been closed for six working days due to civil unrest, with fresh information confirming they would stay that way for an unspecified time. Bitcoin (BTC) proponents are encouraging Lebanese citizens to swap fiat for crypto after it emerged the country’s banks would stay closed. Banks to open “once normalcy restored” In an…
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