#Crypto Mining

[mostlysignssomeportents]

“Carbon neutral” Bitcoin operation founded by coal plant operator wasn’t actually carbon neutral

I'm at DEFCON! TODAY (Aug 9), I'm emceeing the EFF POKER TOURNAMENT (noon at the Horseshoe Poker Room), and appearing on the BRICKED AND ABANDONED panel (5PM, LVCC - L1 - HW1–11–01). TOMORROW (Aug 10), I'm giving a keynote called "DISENSHITTIFY OR DIE! How hackers can seize the means of computation and build a new, good internet that is hardened against our asshole bosses' insatiable horniness for enshittification" (noon, LVCC - L1 - HW1–11–01).

Water is wet, and a Bitcoin thing turned out to be a scam. Why am I writing about a Bitcoin scam? Two reasons:

I. It's also a climate scam; and

II. The journalists who uncovered it have a unique business-model.

Here's the scam. Terawulf is a publicly traded company that purports to do "green" Bitcoin mining. Now, cryptocurrency mining is one of the most gratuitously climate-wrecking activities we have. Mining Bitcoin is an environmental crime on par with opening a brunch place that only serves Spotted Owl omelets.

Despite Terawulf's claim to be carbon-neutral, it is not. It plugs into the NY power grid and sucks up farcical quantities of energy produced from fossil fuel sources. The company doesn't buy even buy carbon credits (carbon credits are a scam, but buying carbon credits would at least make its crimes nonfraudulent):

https://pluralistic.net/2023/10/31/carbon-upsets/#big-tradeoff

Terawulf is a scam from top to bottom. Its NY state permit application promises not to pursue cryptocurrency mining, a thing it was actively trumpeting its plan to do even as it filed that application.

The company has its roots in the very dirtiest kinds of Bitcoin mining. Its top execs (including CEO Paul Prager) were involved with Beowulf Energy LLC, a company that convinced struggling coal plant operators to keep operating in order to fuel Bitcoin mining rigs. There's evidence that top execs at Terawulf, the "carbon neutral" Bitcoin mining op, are also running Beowulf, the coal Bitcoin mining op.

This is a very profitable scam. Prager owns a "small village" in Maryland, with more that 20 structures, including a private gas station for his Ferrari collection (he also has a five bedroom place on Fifth Ave). More than a third of Terawulf's earnings were funneled to Beowulf. Terawulf also leases its facilities from a company that Prager owns 99.9% of, and Terawulf has *showered * that company in its stock.

So here we are, a typical Bitcoin story: scammers lying like hell, wrecking the planet, and getting indecently rich. The guy's even spending his money like an asshole. So far, so normal.

But what's interesting about this story is where it came from: Hunterbrook Media, an investigative news outlet that's funded by a short seller – an investment firm that makes bets that companies' share prices are likely to decline. They stand to make a ton of money if the journalists they hire find fraud in the companies they investigate:

https://hntrbrk.com/terawulf/

It's an amazing source of class disunity among the investment class:

https://pluralistic.net/2024/04/08/money-talks/#bullshit-walks

As the icing on the cake, Prager and Terawulf are pivoting to AI training. Because of course they are.

If you'd like an essay-formatted version of this post to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2024/08/09/terawulf/#hunterbrook

[gainercryptocom]

Caw Crypto Price Prediction: Unveiling Future Market Trends

[mommatakescareofthebills]

i love being told everything btw. if i love you and youre talking to me not a single detail is too much. youll never overestimate how much of the fabric of your day to day i want to hold in my hands and know the model and make of. im Everything Matters girl and everything matters to me

[kinksmog]

i was desperate for money in 2020-2021 so i did mine crypto for a little bit and did make some money from it, but ultimately decided to just look for jobs and not get super fucked by the irs on accident later. Anyway, if you’re like me and you tried it out and you used a website called NiceHash, they’re apparently going to try to charge inactive accounts.

I got this email:

I did look on Reddit and apparently some people were able to cancel their accounts and some were not, as if the option had been taken away from their website. I haven’t had the opportunity to look into this, but I was able to still login to my account to look around. These are what they’re saying they will charge for whatever infractions that occurred against your account:

0.00010000 BTC per month, which as of right now’s price for bitcoin translates to about $5 a month from my very lazy estimate because I accidentally left some bitcoin in my wallet and never cashed it out the last time I logged in 3 years ago.

I’m not sure how legal this is, I’m not sure if it’ll get squashed by backlash, I’m not really sure what to do except maybe start mining again? That’s what it seems like they want anyway.

Regardless I hope this information helps anyone else that might be affected by it.

[deennes]

the 2021 COVID cripto mining experiece.

I'm a computer technician, so at the time i thought "ok, it will be easy". god damn how much i suffer with bugs, crashes, freezing... and as you can see... a bended motherboard. havent found the burned power supply photo. lol.

altought, all the terrible moments, it was fun, made me come back to studing computers, software and hardware. noneless, made me "survive" the economy and the lack of work as a lawyer in the pandemic.

Now, i'm using the video cards for games and waiting to come back, but.... i don't think i will have time to.

brain aneurysm sucks.

love, Dennis.

[mhbayzid]

Is it Legal to Buy Crypto in Bangladesh?

Cryptocurrencies have gained global traction in recent years, but their legal status varies significantly from one country to another. In Bangladesh, the question of legality regarding cryptocurrency is a topic of considerable debate and interest among enthusiasts and potential investors. This article will dive into the current legal framework for cryptocurrencies in Bangladesh, discuss the risks and benefits, and explore the future outlook for crypto in the country.

1. Understanding Cryptocurrency: A Brief Overview

Cryptocurrencies, such as Bitcoin and Ethereum, are digital or virtual forms of money that operate on blockchain technology. Unlike traditional currencies, cryptocurrencies are decentralized, meaning they are not controlled by any central authority, such as a government or bank. They offer various advantages, including lower transaction fees, faster transfers, and the potential for investment growth. However, the decentralized nature of cryptocurrencies also presents challenges regarding regulation and legal oversight.

Read More :

What is Staking in Cryptocurrency? A Beginner’s Guide

Top 10 Upcoming Cryptocurrency Trends in 2024

How to Avoid Common Cryptocurrency Scams

2. The Legal Status of Cryptocurrency Globally

Across the globe, cryptocurrency laws differ significantly, with countries adopting a range of approaches. For instance:

The United States has taken a generally positive stance, allowing crypto trading and taxation on profits.

Japan was one of the first countries to recognize Bitcoin as legal tender and has a well-developed regulatory framework for cryptocurrencies.

China, on the other hand, has implemented a complete ban on all crypto-related activities, including mining and trading.

The global stance on cryptocurrency often influences other countries, as governments assess both the risks and potential benefits associated with digital assets.

3. History of Cryptocurrency in Bangladesh

Government Stance and Regulations

In Bangladesh, the regulatory environment around cryptocurrency has historically been restrictive. The Bangladeshi government and the Bangladesh Bank have issued warnings and statements advising citizens against using or trading cryptocurrencies. As early as 2014, Bangladesh Bank declared that using Bitcoin or any other cryptocurrency was not only discouraged but could result in criminal prosecution.

Key Events and Milestones

Several events have shaped Bangladesh’s crypto landscape:

In 2014, the Bangladesh Bank issued a statement clarifying its position against Bitcoin, mentioning that using crypto could lead to fines or imprisonment.

Over the years, Bangladesh’s government has taken action against crypto traders, emphasizing the risks of money laundering and financing of terrorism.

Despite these restrictions, there remains a growing interest in crypto among Bangladeshis, many of whom continue to invest in and trade cryptocurrencies through various means.

4. Current Legal Framework in Bangladesh

Central Bank’s Role and Statements

The Bangladesh Bank is the primary financial regulatory authority in Bangladesh and has taken a strong stance against cryptocurrencies. According to the bank, cryptocurrencies are not recognized as legal tender, and the trading of these digital assets may violate existing anti-money laundering laws.

The Bank has cited concerns such as:

Risk of Fraud: The unregulated nature of crypto makes it susceptible to scams.

Money Laundering: Due to its anonymity, cryptocurrency transactions may facilitate illegal activities.

Anti-Money Laundering Laws

Bangladesh has stringent anti-money laundering (AML) and anti-terrorism financing (ATF) laws, which apply to all forms of financial transactions. The government has pointed out that cryptocurrency’s anonymous and decentralized nature poses risks in terms of enforcing these regulations.

5. Risks of Buying Cryptocurrency in Bangladesh

Legal Risks

Given the current legal framework, buying cryptocurrency in Bangladesh carries significant legal risks. Individuals caught trading or holding crypto could face penalties, including fines or jail time, as the government views it as a violation of foreign exchange laws and AML regulations.

Financial Risks

Even if legal risks are set aside, cryptocurrency trading comes with financial risks. The crypto market is highly volatile, meaning that values can fluctuate wildly. This unpredictability, coupled with the legal environment in Bangladesh, makes crypto investments particularly precarious for Bangladeshi citizens.

6. Potential Benefits of Cryptocurrency for Bangladesh

While the government has taken a cautious approach, there are several potential benefits that cryptocurrencies could bring to Bangladesh:

Financial Inclusion: With a large portion of Bangladesh’s population unbanked, crypto could provide an alternative means for people to store and transfer value.

Remittances: Crypto could make remittances faster and cheaper, benefiting the many Bangladeshi citizens who work abroad.

Blockchain Innovation: Embracing blockchain technology could foster innovation in various sectors, including supply chain management and digital identity verification.

7. How to Buy Cryptocurrency in Bangladesh (If It’s Legal)

For those interested in exploring cryptocurrency, it is crucial to stay informed about the legal context. However, if one were to proceed, the following steps outline how to do so:

Steps to Safely Purchase Crypto

Research Local Regulations: Before proceeding, consult the latest information on cryptocurrency laws in Bangladesh.

Choose a Reliable Exchange: International platforms like Binance or Coinbase are generally reputable, though accessibility may vary in Bangladesh.

Use a Secure Wallet: After purchasing crypto, transfer it to a secure wallet, such as a hardware wallet, for safekeeping.

Monitor Your Investments: Keep an eye on your portfolio and make informed decisions based on market trends.

Recommended Platforms

Since local exchanges are not available, Bangladeshi users typically access international platforms. These platforms often require additional steps for compliance, such as VPN usage or third-party wallets. However, it’s important to proceed with caution, as legal risks still apply.

8. The Future of Cryptocurrency in Bangladesh

While the current regulatory stance is restrictive, there is a possibility for change as global adoption of cryptocurrency continues. The government may consider the following trends:

Exploring Central Bank Digital Currencies (CBDCs): Some countries have explored CBDCs as a regulated alternative to cryptocurrencies, which could influence Bangladesh's approach.

Adopting Clearer Regulations: As more countries establish frameworks for crypto, Bangladesh may revisit its stance to accommodate blockchain technology’s benefits while minimizing risks.

9. Frequently Asked Questions (FAQs)

Q1: Is it illegal to own cryptocurrency in Bangladesh?

A: Yes, owning or trading cryptocurrency is currently considered illegal in Bangladesh, according to Bangladesh Bank regulations.

Q2: Can I use a VPN to access crypto exchanges?

A: While some users may use VPNs to access international exchanges, this is still legally risky, as it may violate Bangladeshi regulations.

Q3: Will Bangladesh legalize crypto in the future?

A: It’s uncertain. As crypto adoption grows globally, the Bangladeshi government may consider new regulatory approaches, but no official changes have been announced

[freeecryptobank]

TAPSWAP

[reasonsforhope]

“New York will instate a two-year moratorium on new fossil fuel-powered cryptocurrency mining operations as the state works to balance its economic development and climate goals.

Gov. Kathy Hochul on Tuesday signed the controversial measure into law that would create the first-in-the-nation temporary pause on new permits for fossil fuel power plants that house proof-of-work cryptocurrency mining, which is a process used in the transaction of digital money. Hochul, who had punted on the issue for months after the Legislature passed the bill in June, was elected to a full term Nov. 8.

Upstate New York has become attractive to companies that “mine” digital currencies, including Bitcoin, because of the availability of former power plants and manufacturing sites with unused electrical infrastructure. But Hochul said that the moratorium is an important step to avoid increased emissions from the industry restarting old power plants as she guides the state toward ambitious climate goals...

“I am signing this legislation into law to build on New York’s nation-leading Climate Leadership and Community Protection Act, the most aggressive climate and clean energy law in the nation, while also continuing our steadfast efforts to support economic development and job creation in upstate New York.” [said Governor Hochul.]

The new law will also trigger a study by state Department of Environmental Conservation to study the impacts of the cryptocurrency mining industry on the environment.” -via Politico, 11/22/22

[cruptodrop]

How to make money in cryptocurrency without investment?

There are many ways to earn cryptocurrency without any investment. We can participate in projects that will give us their project coins.

But now we will consider earnings in Telegram. I analyzed and selected 3 projects in Telegram that will distribute airdrops by the end of 2024.

All these projects have been officially confirmed by Telegram.

1. Blum is another popular Telegram clicker that also offers a wide range of earning tasks. Its main feature is the opportunity to earn not only on the completion of tasks, but also on the referral program. By inviting friends and acquaintances, users can receive additional bonuses. Blum is also known for its stable operation and high level of safety. Binance labs also supported the project.

2. Tapswap is one of the most popular clickers on Telegram that offers users the opportunity to earn money for completing simple tasks. It has a convenient interface and a large number of available tasks. Users can earn money for viewing messages, subscribing to channels or groups, and other activities. The official Telegram channel of the project wrote that the listing is planned for the 3rd quarter of 2024.

3. MemeFi is a clicker that is aimed at a youth audience and combines the elements of entertainment and earning. Users can receive rewards for interacting with memes, subscribing to channels with entertaining content, and participating in various contests. MemeFi stands out from other clickers with its unique concept and a large number of fun tasks, which makes it popular among young people.

Thank you for attention!!!

[voiceofurm]

WHITE BUNNY game, a Telegram tap-and-earn game | SOLANA

[diffinmarsh]

Buy virtual card with bitcoin and get #discount

Unlimited transition and Buy virtual credit card with cryptocurrency

[gainercryptocom]

New Crypto Coins: Exploring the Latest Digital Investments

[menericard]

Buy virtual card with bitcoin and get #discount

Unlimited transition and Buy virtual credit card with cryptocurrency

[health-2021]

About Company

With rich experience, team members have been working in the cryptocurrency mining industry, software industry, and information security industry for over 6 years.

Cloud mining is a new type of mining that has the characteristics of low cost, low risk, and high profit. Users do not need to understand the principles of mining and various software and hardware, nor do not need to buy expensive mining machines and pay expensive electricity bills. And also do not need to maintain it. Its only need to purchase a computing power contract to start mining.

link

video

[freeecryptobank]

FREE TELEGRAM CRYPTO MINING BOTS