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#NewsFridayDigiFinex 2020 Week 19

Bitcoin Mining

May 8, 2020

  1. Bitcoin Mining
  2. Bitcoin Mining Possibly Powered Nuclear plants in Ukraine? 
  3. Paul Tudor Jones Bought Bitcoin as a Hedge Against Inflation
  4. Scam Alert: FBI Warns a Surge In Online Cryptocurrency Scams During Global Pandemic
  5. China Launches Its First Bachelor’s Program in Blockchain 
  6. Bitcoin back at 10K!

Header Image source: Martin Sanchez, Unsplash

Paul Tudor Jones Bought Bitcoin as a Hedge Against Inflation, Says it Reminded Him of Gold Back In The 70s

Photo by: Michael Nagle, Bloomberg

Paul Tudor Jones, with a current net worth of $5.1b is famous for being one of Wall Street’s most-successful hedge fund managers. It is revealed that one of his funds currently holds a single-digit percentage in bitcoin futures. While central banks around the globe are busy printing money to relieve its economy during its battle with coronavirus, Jones is reportedly buying bitcoin as an inflation hedge.

The  founder and chief executive of Tudor Investment, said that; “The best profit-maximizing strategy is to own the fastest horse,” in a market outlook note he entitled ‘The Great Monetary Inflation.’ “If I am forced to forecast, my bet is it will be Bitcoin.”

Source: Blommberg 

Bitcoin Mining Possibly Powered Nuclear plants in Ukraine?

Photo by: Pixabay, Pexels

On Wednesday May 6 Ukraine published a statement on Facebook that they have begun utilising nuclear plants as a solution for crypto mining due to the COVID-19 lockdown. The country is now looking forward to starting to apply solutions to avoid the wasting of energy to increase digital assets as part of its course toward digitalization led by its president, Volodymyr Zelensky. 

The Ukrainian government believes that usage of power plants for Bitcoin mining could combat the excess electricity produced which could be beneficial to save the country’s resources due to COVID-19 lockdown.

The Ukrainian Ministry of Energy is facing a surplus uprise of power usage  produced by the nation’s nuclear power plants due to the lockdown. As many are forced to stay at home, additional consumption of energy became inevitable. The nation is now trying to utilize the power from nuclear plants to conduct cryptocurrency mining as it requires a huge amount of power usage.

Source: DigiFinex Blog

Scam Alert: FBI Warns a Surge In Online Cryptocurrency Scams During Global Pandemic

Photo by: Dmitry Demidko, Pexel

As people spend more time at home, many have fallen in the hands of cyber attacks. On wednesday May 6, The Federal Bureau of Investigation warned countries, and people of all age groups of an expected increase in the number of cryptocurrency related scams during covid-19.  

The following scams are the possible case scenarios of a cryptocurrency fraud:

  • Blackmails: Threatening emails requesting for payment in bitcoin or they will reveal personal information about you, or threats to infect you and your family with the coronavirus
  • Work from home scams: Scammers posing as employers asking for donations of funds into your own bank account and putting them into a crypto kiosk
  • Payment for non-existent treatments or equipment: Scammers may try to take people off trusted website by offering products that claim to prevent the coronavirus and then asking for payment in cryptocurrency for products or treatments that don’t exist

In order to avoid these types of scams, do verify your vendors or payment accounts before sending money or digital assets. Also always do your research and clarify with your exchange.

Source: KTUL.com

China Launches Its First Bachelor’s Program in Blockchain as Part of Its Efforts For a Emerging technology

Photo by: Pixabay, Pexels

Blockchain technology has slowly emerged as a core for China’s national strategy. Political leaders, including the president, have been taking initiative to grow its digital market through its preparation of the digital yuan

But the country is currently facing a severe shortage of blockchain knowledge and talents, due to a lack of blockchain education. In order to seed and nurture more blockchain human capital, China’s public and private sectors are now looking into providing classes, building research institutions and creating new universities to groom its younger generation. 

China’s will be launching its first blockchain bachelor’s degree program at Chengdu University of Information Technology (CUIT) in fall. 

Source: forkast.news

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