Bitcoin Hash Rate Recovers from Historic Drop

As of today, bitcoin’s hash values have fully recovered from last weekend’s historic plunge.

It’s pretty close to the top level.

As of this morning, the blocking time is back to normal, and the transaction fees, which peaked at $62.78, also appear to be back to normal.

Moreover, bitcoin and the rest of the crypto-currency market have put together a great rally after last week’s deep plunge, which has provided a good bottom for the price, at least in the short term, if not the long term.

While the price increase may be short-lived, what we’ve learned about the origins of this so-called hashish is very disturbing. …

Although analysts like to point out bitcoin’s penchant for green energy when mining, a recent University of Cambridge study estimates that on average only 39% of proven mining operations are powered by renewable energy.

Moreover, in the very region where coal mining has ceased, the province of Xinjiang, there are notorious reports of genocide against Uighur Muslims by the Chinese authorities.

And as for the miners stuck in plain sight, guess what their nationality is.

The idea that my business over the past few weeks could have been used to fund slavery is a truly horrifying thought. But is bitcoin responsible for this situation?

In the United States, something as simple as paying taxes is used to fund wars halfway around the world, in addition to funding local police and fire departments. The tool should not be confused with the different applications of the tool.

The hammer is inherently good, even if some use it to destroy. Overall, the internet is also a force for good.

While there are scammers and nefarious people, it is already clear how much freedom and equality it has brought to hundreds of millions of people.

Negative Danske

A Scandinavian bank that probably doesn’t own bitcoins has been going through a lot of turbulence lately. The CEO was forced to resign two weeks ago and the financial institution discovered that an investigation was underway against her by the U.S. Securities and Exchange Commission.

However, the bank has found a way to regularly withdraw money directly from its customers’ accounts.

Bitcoin Hash Rate Recovers from Historic Drop

Danske charges negative interest rates to a small proportion of its customers, but from next year all retail accounts of DKK 250,000 (about $40,000) or more will have to pay interest to the bank.

Clearly, their share price has not responded positively.

On the other side of the fence, DeFi contributors can receive between 6% and 8% if they own a barn.

It is therefore certain that many dinosaurs will disappear, although it is preferable that this happens gradually in order to avoid disruption and to give an emerging market time to mature.

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