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China Shuts Down Over 90% BTC Capacity, Sichuan BTC Sites Massively Offline

China intensified law enforcement against domestic Bitcoin mining activities. Bitcoin mining sites in Sichuan Province were reportedly massively disconnected and lost their abilities for further mining operations, according to local media’s coverages. The disconnection was reportedly occurred since Sunday, citing local media’s coverages. Some firms even closed their facilities prior to the outage. According to … Continue reading China Shuts Down Over 90% BTC Capacity, Sichuan BTC Sites Massively Offline

Jackson City in Tennessee Plans to Accept Property Tax Payment in Bitcoin

Jackson City, the eighth-biggest city in the US state of Tennessee, intends to permit its residents to pay property tax in Bitcoin (BTC), according to Mayor Scott Conger. Mayor Conger announced his ambition on Twitter by stating that: “Our blockchain task force is looking into how the CityofJacksonTN can accept property tax payments in Bitcoin and allow … Continue reading Jackson City in Tennessee Plans to Accept Property Tax Payment in Bitcoin

Mayoral Candidate Curtis Sliwa Wants to Make NYC the Most Crypto-Friendly City in U.S.

The digital currency ecosystem is becoming a vital subject of political campaigns in the United States, signalling the gradual emergence of the industry as a non-negligible financial innovation. Revealing his plans if elected into office, Sliwa Curtis, a Mayoral Candidate for New York City, noted plans to make the city the most cryptocurrency-friendly in the … Continue reading Mayoral Candidate Curtis Sliwa Wants to Make NYC the Most Crypto-Friendly City in U.S.

Bitcoin Lightning Network Goes Parabolic after Hitting ATH Capacity of 2,738 BTC

The Bitcoin (BTC) lightning network has been experiencing an uptick, given that its capacity recently reached a record high. On-chain metrics provider Glassnode explained: “The Bitcoin Lightning Network is currently at an all-time-high (ATH) capacity of 2,738 BTC, equivalent to $116.3M in value.” Market analyst Will Clemente echoed these sentiments. He said: “The capacity of … Continue reading Bitcoin Lightning Network Goes Parabolic after Hitting ATH Capacity of 2,738 BTC

Kyrgyzstan Government Increases Electricity Tariff for Crypto Miners

The authorities in Kyrgyzstan recently revised their Medium-Term Tariff Policy (MTTP) for electricity and heating, leading to power tariffs in the nation for cryptocurrency mining increase by 12.5%. The authorities have made such decisions due to the huge energy consumption required in the cryptocurrency mining process. The administration announced the Medium-Term Tariff Policy for Electricity … Continue reading Kyrgyzstan Government Increases Electricity Tariff for Crypto Miners

Bitcoin Lightning Network Capacity Breaches 3,000 BTC for the First Time

Bitcoin (BTC) broke the $50K again after suffering a significant pullback, which prompted a $10K daily loss in September. The top cryptocurrency was up by 3.69% in the last 24 hours to hit $51,334 during intraday trading, according to CoinMarketCap. The Bitcoin Lightning Network has been following suit because it crossed the 3,000 BTC capacity … Continue reading Bitcoin Lightning Network Capacity Breaches 3,000 BTC for the First Time

Bitcoin Scarcity Scales the High as Illiquid Supply Hits 85% in the Last Three Months

Bitcoin (BTC) is back to winning ways because it continues to top the $55K level, a scenario last occurred in May. The leading cryptocurrency was up by 2.48% in the last 24 hours to hit $55,607 during intraday trading, according to CoinMarketCap. This price surge is partly being triggered by scarcity in the BTC market. … Continue reading Bitcoin Scarcity Scales the High as Illiquid Supply Hits 85% in the Last Three Months

Will NYC's Incoming Mayor Eric Adams Make the City the Crypto Hub to Watch?

Eric Adams, a former Police Captain and Democratic party candidate, has won the New York City Mayoral race, gaping his closest competitor Curtis Sliwa by garnering 67% of the total votes. With Adams now set to replace Bill De Blasio in January, the crypto community is beginning to keep a close watch on the incoming … Continue reading Will NYC's Incoming Mayor Eric Adams Make the City the Crypto Hub to Watch?

MAS Sees Potential in Retail-CBDC for the City-State

Despite its plans to float Project Orchid, the technology infrastructure, and the technical competencies necessary to issue a digital Singapore dollar, the Monetary Authority of Singapore (MAS) is not in a hurry to follow the bandwagon. According to Ravi Menon, the Managing Director of the MAS, the country has not found a compelling use case … Continue reading MAS Sees Potential in Retail-CBDC for the City-State

El Salvador to Build the World's First Bitcoin City, Funded by Bitcoin Bonds

In yet another move to showcase its love for Bitcoin, El Salvador’s President, Nayib Bukele, has unveiled the country’s plans to build the first fully functional Bitcoin city. This project is billed to be funded by a Bitcoin-backed, government-issued bond. A City Where Everything Works Speaking at the Bitcoin Week Conference, President Bukele revealed the details of the plans for building up … Continue reading El Salvador to Build the World's First Bitcoin City, Funded by Bitcoin Bonds