Cryptocurrency exchange Binance called for “global regulatory frameworks for crypto markets”. They did this with a publication of “10 Fundamental Rights for Crypto Users” and several crypto ads in major newspapers.
The 10 Fundamental Rights for Crypto Users “can serve as a guiding hand. This is true in regulatory discussions and development of global frameworks for crypto markets,” the company explained. The exchange believes that they “will serve as a guiding point to launch more productive conversations with the larger industry, including other exchanges, blockchain innovators, policymakers and world leaders.” Noting that “The future of crypto needs to be user-focused,” Binance detailed:
“The customer rights, as described in a series of advertisements published today globally, are meant to ensure safe access to emerging technologies, liquidity, and secure platforms among other steps to ‘protect users without limiting growth and innovation.”
A portion of the ad reads: “When it comes to crypto, don’t let the headlines fool you. There’s a world beyond bitcoin and dogecoin, one where financial opportunity is accessible to everyone, not just the privileged few. Crypto belongs to all of us.”
So what does this entail?
But you have to read between the lines. Then you can spot many things which are being implied with the ad campaign. First, it is a very good message for people not to blindly trust headlines. Headlines more often than not are there to serve a different goal than to simply inform. The mainstream media has already stopped being an information source a long time ago. Instead they became a tool for disseminating propaganda and serving certain goals of the big spending elites.
Secondly, the banning and pushing of regulations all over the world when it comes to crypto is a clear sign of the old structure or order refusing to give up the power that they have accumulated until now. Imagine if from tomorrow we no longer needed banks. Imagine we all could manage our money privately in our virtual wallets. Some may lament the loss of cold, hard cash but be it by choice or design we were getting there nevertheless.
The question remains will these regulations help? Do they mean to give these “fundamental rights” to crypto users in honest? Or are they just a smoke screen? We will have to wait and see what the future entails.
China Targets Crypto Mining at State-Owned Enterprises, Threatens Punitive Measures
China’s National Development and Reform Commission (NDRC) announced Tuesday it plans to concentrate on the “comprehensive rectification” of state-run industrial enterprises involved in the extraction of digital currencies. The initiative is part of an ongoing crackdown on crypto-related operations that are banned in the People’s Republic.
It comes to no surprise that an authoritarian regime used to have total control over a country including everything economic related will have had enough with the freedom granted by cryptocurrencies.
The excuse offered was of course related to energy waste associated with crypto mining as well as financial activities linked to cryptocurrencies, reiterating that they are illegal in China. The economic commission further stated that these virtual currencies do not have the same status as a legal currency and that they are destabilizing China’s industrial structure.
For people who fear this will impact the crypto market, don’t worry too much. It will surely have an impact but only until the Chinese government finds a reliable way to profit off of crypto and regulate the industry so that they can use it under their control. This of course means less freedom for crypto users in China but the global market will see a boom when China eventually and officially fully accepts crypto.
Bitcoin Hashrate Nears All-Time High — Mining Rigs Produced in 2016 Still Profitable
While bitcoin’s value measures well above the $60K range, the network’s hashrate has surged to over 184 exahash per second (EH/s) as mining devices are far more profitable at these prices. The price has made it so that older generation mining devices manufactured over four years ago, with processing power of more than 8 terahash per second (TH/s), can make a daily profit mining the leading crypto asset.
On November 15, 2021, Bitcoin’s hashrate climbed to 184 EH/s gathering 17.19% more hashpower than the network saw a mere two days ago on November 13. Bitcoin’s (BTC) hashrate is getting close to nearing its all-time high (ATH). This is a record from May 9, 2021, at 191 EH/s. Today’s Bitcoin hashrate metrics show that the hashpower is only 3.8% away from surpassing its ATH, according to coinwarz.com data.
In addition to BTC’s hashrate nearing ATH, the second-largest crypto asset in terms of market valuation, ethereum’s (ETH) higher prices are also propelling its network hashrate. At 932 TH/s, Ethereum’s hashrate is awfully close to a single petahash per second or 0.001 EH/s. Ethereum’s hashrate has already reached an ATH and has continued to soar higher, capturing new records.
Cryptoway is also a place that is making people happy with mining rigs which have been operational for almost 5 years. Long term reliability and profitability! These are goals set in stone when it comes to the team at Cryptoway. To make sure the the mining rigs have the largest life spam possible Cryptoway is also implementing a plan for software upgrades, performance monitoring and mining rigs fixing at a discounted price starting with the 1st of January next year.