SHIBA Inu coin is up on Coinbase on Tuesday, as is Bitcoin after Square CEO Jack Dorsey revealed the company is looking to get into crypto mining with that currency.

“Square is considering building a bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide,” CEO Dorsey said in a tweet on Friday.

“If we do this, we’d follow our hardware wallet model: build in the open in collaboration with the community.”

Bitcoin’s price hit a six-month-high of $62,000 after the tweet, Business Insider reported.

Both Bitcoin and Shiba Inu remain up on Tuesday, according to Coinbase.

Plus, crypto prices saw some changes after President Biden’s statement drawing attention to potential pitfalls of the currency, such as ransomware and other cyber threats.

The statement from Joe Biden read: “Cyber threats can affect every American, every business regardless of size, and every community. That’s why my administration is marshaling a whole-of-nation effort to confront cyber threats.”

Read our cryptocurrency live blog for the latest news and updates…

  • DECISION TUNNELS

    The amount to be traded is determined when Goxx runs through one of two “decision tunnels”.

    Depending on which tunnel he runs through, the amount he will buy or sell the cryptocurrency changes in 20 euro increments.

    All of the data is rigged to a computer that makes the transactions in real-time on Goxx’s behalf.

  • CRYPTO-TRADING HAMSTER, CONTINUED

    The four-legged financial fiend is not completing transactions himself, of course.

    Instead, Goxx’s trading decisions are made inside a camera-rigged “office” attached to his regular cage.

    Every day, when he enters the office, a stream is started on Twitch and a tweet is sent out to his followers notifying them that trading has begun.

    The hamster then runs on an “intention wheel” that chooses one of 30 different cryptocurrencies to trade.

  • A CRYPTO-TRADING HAMSTER OUTPERFORMS MARKET

    hamster in Germany is trading in cryptocurrencies and has consistently been outperforming the S&P 500.

    The furry animal, called Mr Goxx, has been busy working since June, thanks to a specially adapted cage.

    He determines which currencies to buy or sell by running on his wheel or walking through one of two tunnels.

    Mr Goxx started trading on June 12 this year.

    The site states that the page is just for fun and does not offer financial advice.

  • WHAT IS NUCYPHER? CONTINUED

    This allows users to share private data with a number of others in a secure way.

    Holders of its token NU can stake their tokens through the network to run a node, which is responsible for creating and sending information.  

    Interestingly, NuCypher token is an ERC-20, which means it is built on Ethereum.

  • WHAT IS NUCYPHER?

    NuCypher was founded by Michael Egorov MacLane Wilkison in 2015, but it wasn’t until 2019 when the public testnet for NuCypher’s network launched.

    NuCypher specifically operates as a decentralized key management system that uses blockchain technology.

  • NUCYPHER

    On Friday, NuCypher at one point exploded more than 1,100% to hit a new all-time high of $3.5819.

    The gains cooled off a bit as of Friday morning, but the cryptocurrency was still up 400% at $1.52, according to CoinMarketCap.

  • WHAT IS HBAR CRYPTO?

    Hashgraph is similar to a blockchain and was created in 2017 by American computer scientist Leemon Baird.

    The Hedera Hashgraph system is a distributed ledger built on Hashgraph and was created by Baird along with Mance Harmon.

    HBAR is the cryptocurrency of the Hedera Hashgraph.

    The company itself expalins: “HBAR is the native, energy-efficient cryptocurrency of the Hedera public network.”

  • SCANT REGULATIONS

    In other words, don’t invest more than you can afford to lose or into something you don’t understand.

    Cryptocurrencies are also especially volatile, and their values can make large swings at no notice.

    There’s scant regulation for crypto firms, so you’ll find yourself without protection if and when things go wrong.

  • PUSH FOR MEXICO TO FOLLOW EL SALVADOR

    In early October, Grupo Elektra, a leading banking and retail company in Mexico, threw its support behind Bitcoin by introducing the Bitcoin Lightning Network as a payment method.

    But Mexico’s central bank quickly shot down the plans, warning: “The country’s financial institutions are not authorized to carry out and offer to the public operations with virtual assets, such as Bitcoin, Ether, XRP.”

    Many of the country’s lawmakers remain opposed to Bitcoin, despite grappling with high inflation rates due to the continued devaluation of its currency.

  • EXPERT COMMENTS ON TETHER’S VALUE

    Despite its claim to be a stablecoin, Tether has still witnessed spikes and sharp falls in price, Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, noted in May.

    She told The Sun: “It has also been criticised for a lack of transparency, has had to settle US lawsuits and trading in the currency is banned in the state of New York.”

  • WHAT IS TETHER?

    The Tether cryptocurrency, which is also known as USDT, was officially launched as Realcoin in 2014, but has since changed its name.

    It’s described as a “stablecoin”, which is a type of cryptocurrency that aims to keep crypto values stable.

    Tether aims to do this by pegging the price to a regular “fiat” currency, like US dollars, Euros or the Chinese yuan.

    Tether claims to keep values steady by holding reserves in that currency in a bank.

  • CRYPTO CASTLE? PART TWO

    The therapist says Bitcoin addicts are often addicted to drugs and booze.

    He said: “Commonly, people start because they want to buy stuff off the dark web. And the only way to do that is with cryptocurrency.

    “The biggest problem is this cross addiction [with crypto] starting—through drugs and alcohol.”

    Since 2017, Tony has treated 15 people who have been addicted to crypto.

    Users travel from the likes of the United States, Dubai, Malta and the Netherlands to get treatment at the clinic.

    Tony says that too many stories about Bitcoin are about people who have made fortunes – and not the traders who have gambled their lives away.

  • CRYPTO CASTLE?

    A rehab clinic in Scotland claims to be the first in the world to treat cryptocurrency addiction.

    Castle Craig, a private hospital in Peeblesshire near Edinburgh, has seen admissions for Bitcoin addicts increase by a factor of 10 in the past year.

    The clinic is overseen by therapist Tony Marini who claims to be the first physician to recognise that crypto trading is very similar to gambling.

    He says most addicts start by occasionally trading before frequent wins feed dopamine cravings and dreams of earning millions.

    Tony told Decrypt: “If you say to somebody doing crypto, ‘so you’re occasionally gambling,’ they’re gonna go ‘no, I’m not.’

    “So take out the word gambling and say ‘occasionally trading.'”

  • LITECOIN VS. BITCOIN, CONTINUED

    Like most cryptocurrencies, Litecoin uses blockchain technology for processing and recording transactions.

    While Litecoin is smaller, it is a quicker and cheaper alternative when compared to Bitcoin.

  • LITECOIN VS. BITCOIN

    Litecoin, which was established in 2011 by Google engineer Charlie Lee, operates similarly to Bitcoin.

    Mr Lee on occasions refers to Litecoin as the “silver to Bitcoin’s gold.”

    The two cryptocurrencies act similarly in how their global payment operations are set up. Both are not controlled by financial institutions.

  • JAILED BITCOIN MINER WAS ‘ACTING OUT OF GREED’

    Singh was sentenced to 13 months and two weeks in prison in a UK first.

    Andrew Baxter of the CPS said: “This is a highly unusual case.”

    “The overwhelming majority of times we see offenses of abstracting electricity, they are to support other criminal activities such as growing cannabis.”

    Bitcoin mining is a legitimate legal enterprise. Sanjay Singh was simply acting out of greed.”

  • BITCOIN MINER JAILED, CONTINUED

    The Crown Prosecution Service explained Singh’s activities were first detected when a power provider investigated a fault at a substation caused by the cryptocurrency mining overloading the system.

    The CPS released details of the case and said an inspection of Singh’s premises showed he had tampered with the wiring to run over 200 devices.

    Investigations suggested he had cheated the power provider out of tens out thousands of pounds of electricity.

    Singh went on to commit the same offence at the nightclub in Loughborough while the first offense was still under investigation.

    Singh was charged with two counts of abstracting electricity and pleaded guilty to both offences.

  • BITCOIN MINER JAILED

    bitcoin miner has been jailed after he was caught stealing electricity in a sketchy cryptocurrency scam in the United Kingdom.

    Sanjay Singh, 40, admitted “abstracting” electricity worth up to £32,000 at two locations where he operated bitcoin mining machines, Leicester Crown Court heard.

    The first loaction was in an industrial unit in Coalville and the other was in Firefly nightclub in Loughborough.

    The second had been closed for the summer holidays.

  • BITCOIN SCORES NEW HIGH AFTER DORSEY TWEET

    Bitcoin’s price hit a six-month-high of $62,000 after Dorsey tweeted about the possible Square development on Friday, according to CoinDesk and Business Insider.

    That surge launched its year-to-date gains to 114 percent.

    It was last trading around $64,200 on Tuesday afternoon.

  • SQUARE MAY BUILD BITCOIN MINING HARDWARE

    Square CEO Jack Dorsey said the company may create a bitcoin mining rig in a tweet on Friday, according to Business Insider.

    “Square is considering building a bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide,” CEO Dorsey said in a tweet late that day.

    “If we do this, we’d follow our hardware wallet model: build in the open in collaboration with the community.”

  • SOLANA SCALABILITY, CONTINUED

    Myron Jobson, personal finance campaigner at Interactive Investor, told The Sun: “The collection of 10,000 artworks reported sold out in under 10 minutes. Each piece was ‘minted’ using the SOL token.”

    He added that “there’s a sentiment among crypto evangelist that Solana has strengthened its status as credible challenger to Ethereum as the blockchain of choice for building decentralized applications.”

  • ‘MILESTONE SCABILITY TEST’

    Solana is on the rise following a “milestone scalability test” last month.

    It hosted the “Degenerate Ape Academy”, a collection of digital artworks (NFT) on Solanart, a marketplace on the Solana network.

  • EXPERT COMMENTS ON ALCHEMY PAY AND BINANCE

    Shaun Heng, vice president of growth and operations at CoinMarketCap told The Sun that it’s challenging to assess the risk of many crypto projects like Alchemy Pay.

    And while he isn’t a fan of Alchemy Pay’s crypto-linked cards, he did tout one its partners Binance, which is the largest crypto exchange by trading volume globally.

    Heng said: “The partnership with Binance is most definitely a good sign of validation for the project.”

  • PUSH FOR MEXICO TO FOLLOW EL SALVADOR

    In early October, Grupo Elektra, a leading banking and retail company in Mexico, threw its support behind Bitcoin by introducing the Bitcoin Lightning Network as a payment method.

    But Mexico’s central bank quickly shot down the plans, warning: “The country’s financial institutions are not authorized to carry out and offer to the public operations with virtual assets, such as Bitcoin, Ether, XRP.”

    Many of the country’s lawmakers remain opposed to Bitcoin, despite grappling with high inflation rates due to the continued devaluation of its currency.

  • AMC CEO TALKS ABOUT ACCEPTING CRYPTO

    “AMC CEO Adam Aron says company will accept Bitcoin, Litecoin and Ethereum ‘before year end,’ with Dogecoin expected in Q1,” someone captioned this video on Twitter.

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