Project News & Updates
Bitcoin value rose nearly 9% following Biden’s Executive Order, The Wall Street Journal reports.
The order directs agencies to research and assess crypto, and to consider new regulations. While BTC’s value rose, reactions were mixed. Some saw the order as governmental embrace of the industry. Some were hoping for more specific direction that would encourage broader adoption and investment.
For more on the development, read the full article:
“CoinDesk’s first ever year-end survey of crypto miners reveals a competitive but mature business with potential for merger activity to accelerate.”
With chip shortages, China’s crackdowns, consolidation, increasing hashrates, immersion cooling, and more … there are a lot of variables at play with the potential to significantly impact the industry.
CoinDesk dives in to explore these factors and how they could shape the field in the year to come.
El Salvador is making steps to set up bitcoin as legal tender, announced President Nayib Bukele. With numerous potential benefits for its citizens, including ease of money transfer, eliminating exchange fees, and more, the impact on the small country could be significant, leading to a higher economic output for the country.
But what would the impact of one small country’s decision be on the global economy? As the ramifications of taxation, international currency, investment opportunities and more compound, it becomes apparent the overall results could be huge for the rest of the world.
Avik Roy of Forbes reports with more detail.
Investor Bill Miller writes about bitcoin for CNBC in regards to its recent gains, volatility and performance. Fundamentally, demand is exceeding supply. With larger organizations choosing to invest heavily in it, its value soars. Comparing it to gold, Miller says, “it’s easily transportable and can be sent anywhere in the world if you have a smart phone so it’s a much better version, as a store of value, than gold.”
As bitcoin value topped $41,000 Friday,¹ public utility districts in Central Washington make plans for increased power inquiries, The Seattle Times reports. Depending on the equipment, a single server can pull 1,800 watts; it can take nearly 7,000 servers to mine one bitcoin in a day – meaning each bitcoin mined can use over 300,000kwh (roughly 3,000X the energy the average US household uses per month). Clearly using that much power gets expensive – and with power costs in Central Washington roughly 1/6 the national average, Central Washington is an attractive area to set up a mine. But using that much power can upset the balance of a utility’s power supply, and tax the infrastructure. So engaging in business at this scale must be approached carefully. This Seattle Times article covers more of the details.
In Cashmere, WA, a bitcoin mine will help boost productivity and decrease costs for sustainable farming. The massive power consumption in bitcoin mining produces significant heat. This heat will be directed to a neighboring startup mealworm farm, which need a warm, humid environment for healthy growth. This mealworm farm, Beta Hatch, will then provide worms for nearby agricultural use.
“The mealworms are dried and sold as a sustainable food source for poultry, fish and other livestock.”
For the full story, check out The Wenatchee World’s full article here.
In a major step forward, The Federal Reserve is actively investigating digital currencies, their function, and impacts around the world. Federal Reserve Governor Lael Brainard said the central bank is partnering with Massachusetts Institute of Technology researchers to build and test a digital currency. For more on this development, read the full article here.
From CoinDesk:
First Mover: Bitcoin’s 2020 Rally Sends Message to Capitalists as Despair on Wall Street Grows
“Bitcoin’s rally last week as the Standard & Poor’s 500 Index of U.S. stocks floundered served to underscore just how different the conversations are right now in digital asset markets and traditional finance.”
Gabor Gubacs of VanEck presents this well-worded and data-based assessment of the still-emerging new investable digital asset class that bitcoin provides. Comparing bitcoin to markets and investment portfolio elements and supporting with graphs and tables, one can see the value bitcoin has yielded historically. Follow the link below for the online article, and full presentation:
Salcido Enterprises was featured in The Full Port Press as a data pioneer who “continues to grow and create opportunities for the region.”
“We’re attracting cutting edge companies from around the world and bringing opportunities to the region.”
While the company and industry grow together, Malachi Salcido is grateful to live and work in his hometown, and make an impact locally and globally while doing so. Click to read the rest of the article.
