Autor Cointelegraph By Ornella Hernandez

Twitter debates the role of renewable energy in Bitcoin mining

Twitter debates the role of renewable energy in Bitcoin mining

Uverejnil používateľ | apr 5, 2022 |

It all started with a tweet by Dennis Porter, podcast host and self-described Bitcoin advocate, that led to a heady discussion about renewable energy and the role of Bitcoin miners. Porter asserted that Bitcoin (BTC) creates incentives to build out renewables, but environmental scientist Peter Gleick rebuffed the statement as a “self-serving lie.” The comments section got heated when Nic Carter, Castle Island Ventures general partner and Coin Metrics co-founder, entered the chat and called out Gleick for allegedly not knowing anything about energy. Tell me you don’t know anything about energy without telling me— nic no credentials carter (@nic__carter) April 4, 2022Carter proceeded to explain how energy markets work and defend cryptocurrency use in a thread of tweets. He first refuted Porter’s claim that every kilowatt-hour, or KWh, of renewable energy is “already being put to use productively, and bitcoin diverts that use.” He argued that Porter is wrong in saying that every unit of energy is being used, citing market reports that show negative energy prices or curtailed energy that has “no economically productive use.”He pointed readers to initiatives led by the Electric Reliability Council of Texas, or ERCOT, organization that operates most of Texas’ electrical grid with an excess supply. In a presentation he gave at the Texas Blockchain Summit last year, he said that Bitcoin mining can improve the economics of renewable energy projects.  Related: Texas should use Bitcoin mining to capture wasted natural gas: Sen. Ted CruzAccording to Carter, bitcoin mining has provided wind and solar installations the ability to soak up any excess supply that cannot be sold. Any energy that tends to be wasted when the generator stops exporting to the grid or even temporarily shuts down can be offset to mine Bitcoin. He added that there is already a movement of miners plugging in to grids at wind farms who can buy energy during off-peak periods or when prices are high, and give households better access during times of heavy demand. He called for his critics to appreciate these miners who are currently evaluating just how economically viable the infrastructure can be.Is it a requirement that “climate scientists” be completely ignorant of how energy markets work? https://t.co/oGg3XcARjQ— nic no credentials carter (@nic__carter) April 4, 2022

With over 400 comments, the thread was full of commenters siding with both Carter and Gleick, or asking for clarifications and additional reading material from them. One user, “@SGBarbour” who builds bitcoin mines agreed with Porter that bitcoin miners “do not incentivize renewables,” but rather “they help un-sink capital in unreliable generation.” So while Barbour agreed that mining is good, he doesn’t think that it fixes the fact that “so much capital has been wasted installing unreliable energy generation like wind and solar,” he stated in a Substack article. Conversely, another user “@jyn_urso,” a climate change physicist and recently converted Bitcoin advocate, applauded Carter for “laying out yet another great thread on how energy markets work.” According to her previous tweets, she believes that solutions at the community and individual level such as Bitcoin mining can help accelerate the transition to renewables, and lessen reliance on political structures to do so.Overall, this debate shows how Bitcoin and energy use is widely misunderstood. The disagreement over whether Bitcoin represents a good use of the unused energy is still to be proven. An increasing number of scientists and climate change advocates are open to considering that Bitcoin’s energy consumption could unlock renewable energy gains.Carter ended up changing his Twitter name to ‘nic no credentials carter’ after Gleick pointed out their differing academic degrees and expertise on energy. Another supporter of Carter chimed in to poke fun at Gleick for using his authority status as his evidence for claiming truth.Hi, I’m an editor of wikipedia. Could we use this tweet as our example for “argument from authority” cognitive bias and fallacy page?I have very similar qualifications to yours so maybe that will help— suddenactually (@suddenactually) April 5, 2022

One country that is setting the example for Bitcoin miners is Norway. A recent government report shows that Norway’s electricity mix is 100% renewable, giving miners there access to completely green and cheap electricity, especially hydropower.

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Visa launches immersion program to help creators build their business with NFTs

Visa launches immersion program to help creators build their business with NFTs

Uverejnil používateľ | mar 30, 2022 |

Visa announced the official launch of the Visa Creator Program, a one-year product strategy and mentorship program for entrepreneurs working in art, music, fashion and film who seek to accelerate their small business through nonfungible tokens, or NFTs. According to Visa, the goal of the Creator Program is to bring together a global cohort of digital creators and empower them via education of blockchain technology and NFT commerce. Originally announced in October, 2021, the program’s first Visa Creator is Micah Johnson, creator of the Aku World NFT community. Johnson is a former professional baseball player who retired after multiple injuries to become a visual artist in 2018. The NFT character Aku is a young Black astronaut who has grown to ink his own film and TV deal and is considered the the first NFT art piece to digitally travel to the International Space Station.Johnson’s art has sold for a total value of 6,178 ETH, or approximately $20.9 million, according to CryptoArt at the time of publication. He joins the global payments giant’s inaugural class of content creators and gig economy workers who are already engaging with NFTs. Prospective candidates must apply and be selected to partake. Creators like @Micah_Johnson3 are at the forefront of NFTs. His work with Visa is an exciting introduction to the Visa Creator Program, a global opportunity for digital creators & artists looking to deepen their understanding of NFT commerce. Learn more: https://t.co/oAQknwPdB4 pic.twitter.com/E6B9QVTyDl— Visa (@Visa) March 30, 2022Cuy Sheffield, Visa’s head of crypto, said in a statement that “NFTs have the potential to become a powerful accelerator for the creator economy.” He added that the Visa Creator Program is their way of helping “this new breed of small and micro businesses tap into new mediums for digital commerce.” Besides mentorship and the community aspect of the program, other perks according to Visa are the opportunities to engage with Visa’s network of clients and partners, as well as the access to thought leaders in the Web3 space. Participants will also receive a one-time stipend to help kick-start the next phase of the company’s business plan.Related: Visa seeks new college grads for Crypto Development ProgramThe Visa Creator Program demonstrates the company’s commitment to Credit card giant following its $150,000 acquisition of a CryptoPunk in August, 2021 the launch of its Universal Payment Channel interoperability project and the success of its crypto-enabled cards.

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MetaMask rolls out Apple Pay integration and other iOS updates

MetaMask rolls out Apple Pay integration and other iOS updates

Uverejnil používateľ | mar 30, 2022 |

ConsenSys-owned MetaMask tweeted a thread of updates on Tuesday for iPhone and Apple Pay users. The main feature is the ability to buy cryptocurrency using a debit or credit card through the mobile application, eliminating the need to transfer Ethereum (ETH) from a centralized exchange like Coinbase into the app.  MetaMask Mobile v4.3.1 is LIVE with some exciting updates:Buy crypto on iOS with Apple Pay (@sendwyre), more transparency when interacting with sites, & support for gasless transactions where relevant.Does it get any better? Yes it does! We now have dark mode! 1/— MetaMask (@MetaMask) March 28, 2022MetaMask uses two payment gateways, Wyre and Transak, to support debit card and credit card transactions. Users can now use their Visas and Mastercards stored in Apple Pay to buy ETH and deposit a daily maximum of $400 into their wallets, thanks to the Wyre API. Gas fees are reportedly lower, and according to MetaMask’s tweets, some transactions may even be gasless if done on a private blockchain or if a project pays for the gas on the user’s behalf. When completing an ETH purchase, MetaMask discloses that it does not profit from gas fess.Via Transak, it’s been possible to buy the stablecoins USDT, USDC and DAI on the Ethereum mainnet in MetaMask for some time now. The latest update allows users to make bank transfers and use credit/debit cards to buy crypto using over 60 global currencies. U.S. users can also buy Fantom and Avalanche native tokens now, according to the comapany. Exact payment methods and fees vary depending on the location. James Beck, Director of Communications and Content at ConsenSys, told Cointelegraph that the purpose of the updates is to increase accessibility and reduce friction. “We wanted to expand the way in which users can convert crypto within the app itself and not have to leave it,” he said. He also revealed that more integrations that “maximize” options and “streamline” buying crypto are coming soon.MetaMask tweeted about another “important” security update when it comes to sending tokens. Unlike sending ETH simply to a recipient address, tokens are sent to a contract address and instructions are included to send a specified amount of tokens to the recipient address. Users can now “clearly see which contract is requesting” permission and to label and save that contract. An earlier Twitter thread warned MetaMask users “to be careful when interacting with contracts” and approving a certain address to move those tokens. They claimed that the token approving action could result in assets being stolen and that the only way to be protected is to revoke token allowances. The same applies when you swap/mint/sell/stake/farm on all the fancy stuff built by amazing devs the past few years.When tokens need to be moved by a contract to facilitate an action, you must first *approve* that address to access/move those tokens. This is important.7/ pic.twitter.com/FNZH8Xdl3C— MetaMask (@MetaMask) March 4, 2022

Additionally, MetaMask has introduced the Apple Dark Mode feature as per popular demand.  Beck claimed that “wen dark mode?” and “wen token” have been the most anticipated requests by their users. Dark mode will automatically enable in the app if a user’s iPhone Operating System has dark mode enabled system-wide. The company tweeted that dark mode for the MetaMask Extension “is coming soon.”Related: ConsenSys raises $450M in Series D funding, doubles valuation in four monthsRecently, MetaMask acquired the Ethereum wallet interface provider MyCrypto with the intent of combining technologies and eventually merging MyCrypto with the MetaMask wallet to improve the security of all their products.

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Nifty News: Luxury brands join Decentraland‘s Metaverse Fashion Week

Nifty News: Luxury brands join Decentraland‘s Metaverse Fashion Week

Uverejnil používateľ | mar 29, 2022 |

This past weekend, Decentraland hosted the Metaverse Fashion Week, or MVFW, a four-day digital fashion event that staged wearables on virtual runways, organized discussion panels and housed shopping experiences. A lineup of both legacy luxury labels and digital brands participated including Dolce & Gabbana, Etro, Tommy Hilfiger, Estée Lauder and Elie Saab. Meanwhile, digital-native fashion houses Auroboros, DressX and republiqe hosted immersive spaces and stores within specific fashion districts designated by coordinates on a map. Just like New York Fashion Week where events may take place across different city boroughs, so did Decentraland‘s MVFW, which materialized across different districts. Main venue for runway shows. Source: UNXDDolce & Gabbana puts on a literal catwalk Dolce & Gabanna unveiled 20 full looks of Metaverse wearables that they specifically designed for the Metaverse Fashion Week. Playing on the term catwalk, they used cat-faced avatar models to showcase the collection. After the show, the full collection became viewable in an exclusive Dolce & Gabbana pop-up in Decentraland’s Luxury Fashion District, curated by luxury-focused marketplace UNXD. UNXD, as well as Vogue Arabia, were core partners of Decentraland in curating the traditional fashion brands at MVFW.Recently, Dolce & Gabbana sold a series of nonfungible tokens (NFTs) for about $6 million as part of another collection co-created with UNXD. D&G‘s next step into the Metaverse is the launch of the DGFamily NFT Community, which intends to give members exclusive access to physical and digital drops and wearables. DGFamily holders will receive airdrops from this MVFW collection. #DolceGabbana showcases at the First Metaverse Virtual Fashion Week hosted by @decentraland in partnership with @unxd_nft. Enter the metaverse and explore the Dolce&Gabbana pop-up at https://t.co/intOw2lxfy pic.twitter.com/pjo7rn4BMQ— Dolce & Gabbana (@dolcegabbana) March 25, 2022Etro debuts upcoming collection on the runwayEtro, on the other hand, decided to preview a real-world collection for their first fashion show in the Metaverse. Called Liquid Paisley, the collection consists of women‘s and men‘s ready-to-wear looks worn by 20 avatar models and celebrates one of the fashion house‘s iconic prints and color palettes. It also includes a range of must-have accessories, bags, hats and shoes. In partnership with UNXD, Etro also set up a pop-up boutique in the UNXD Luxury District full of other designer brand names.@EtroOfficial revealed the Liquid Paisley collection at the Metaverse Fashion Week, in partnership with @UNXD_NFT. Be sure to visit the boutique in the Luxury District!These wearables will be airdropped to Decentraland users. Submit your wallet address below by March 31! pic.twitter.com/hHqicwZh1i— Decentraland (@decentraland) March 26, 2022

Cointelegraph spoke to Shashi Menon, Dubai-based publisher of Vogue Arabia and co-founder and CEO of UNXD, about why so many luxury brands are jumping onto the Metaverse bandwagon. Menon said the idea to launch a proper fashion week “was the best starting point because it resembled something familiar.” According to him, “the best way to get people into a space they are unfamiliar with is to use something that they are familiar with.”Italian shoe brands enter DecentralandTwo other Italian brands, Hogan and Giuseppe Zanotti, debuted NFT collections. In collaboration with Exclusible, a platform for luxury NFTs and metaverse activations, TOD‘S Group-owned Hogan dropped the “Untraditional” NFT collection of the brand’s first-ever sneaker. They set up a pop-up store residency in Decentraland within Boson Protocol‘s metaverse marketplace in order to sell its physical products as redeemable NFTs within the Boson Portal. The creative studio Braw Haus chose the five NFT artists that designed the collection.Hogan’s virtual pop-up store. Source: Exclusible.Similarly, Italian footwear designer Giuseppe Zanotti released a series of sneaker NFTs for MVFW in partnership with the blue-chip NFT community DeadFellaz and the neuno NFT marketplace. This collaboration offers limited-edition digital-only Giuseppe Zanotti COBRAS sneakers. Zanotti originally released the physical version of these bright green shoes with the snake detail in 2021. While Deadfellaz is also offering physical garments through Boson Protocol, neuno is giving its neuCard VIP members a green bucket hat, two shirts and a bomber jacket to go with the COBRAS.COBRAS sneakers. Source: Giuseppe Zanotti.Republique sells luxury accessories Metaverse-ready fashion house republiqe partnered with a Paris-based e-commerce platform called Monnier to launch a virtual accessories store within Decentraland’s Luxury Fashion District. American brand COACH was among the brands in the store to convert an existing physical item into an NFT wearable. Republiqe helped to create COACH’s first-ever NFT of its “Pillow Tabby Shoulder” handbag.Known as a clothing brand, republiqe showcased five bespoke outfits for its store and worked with other brands including Axel Arigato, Ester Manas, Wandler and Osoi. This virtual shop allows Decentraland users to walk in, view and purchase any of the designer apparel.Metaverse Fashion Week has finally arrived!!!Our store in Decentraland with MONNIER Paris goes live at 4pm today!!We have a number of NFT wearables available from top brands, this is not to be missed!!!to come and experience for yourself head to https://t.co/AIcEGb3hGt pic.twitter.com/NZsNPpZq5U— republiqe clothing (@RepubliqeC) March 24, 2022

Other Nifty NewsFashion NFTs are clearly a big trend as more and more mainstream designers debut NFT collections in the Metaverse this year. And, as fashionistas increasingly use NFTs to express their style on Web3 platforms and in the real world, the future of digital fashion will be likely favorable to those with the first-mover advantage. In addition to runway shows in Decentraland, DressX worked with Fendi to design digital garments used in an interview spread for fashion magazineHaute Living in January. It was the first fashion magazine cover in the United States to display digital luxury designer garments on a human, and the designs could then be purchased directly on the Fendi website.

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Nexo and Amber Group executives claim 'exponential' growth in crypto institutional investment

Nexo and Amber Group executives claim 'exponential' growth in crypto institutional investment

Uverejnil používateľ | mar 25, 2022 |

During the 8th edition of the Blockchain Africa Conference 2022, Cointelegraph’s editor-in-chief Kristina Lucrezia Cornèr moderated a virtual panel titled “Cryptocurrency Institutional Investment: Increasing Returns and Improving Diversification.” Panelists Kalin Metodiev, co-founder and managing partner at Nexo, and Dimitrios Kavvathas, chief strategy officer at Amber Group, focused on the opportunities that institutional investors perceive in the blockchain and crypto space, both in Africa and globally.[embedded content]Nexo is a crypto borrowing and exchange platform that recently began offering crypto custodial services, products and lending services to institutional investors, in partnership with the crypto wing of Fidelity Investments, which is called Fidelity Digital Assets. Crypto trading firm Amber Group recently secured a $200 million investment, which increased its valuation three-fold to $3 billion after a big investment from Singaporean Temasek Holdings.Both panelists spoke about the current dynamics of institutional investing within the blockchain and crypto space, acknowledging its “exponential” growth in institutional onboarding. Metodiev stated that institutional investors, however, may claim that the crypto market is “still too volatile,” meaning determining the overall effect of crypto in relation to other assets in a portfolio is too challenging.Kavvathas expressed that “we can do more” than just adding crypto as one more asset class for large liquidity provision institutions. He added that even though participation is increasing, it is “nowhere close to being meaningful” yet. Metodiev also highlighted the importance of the African market and the “number of potential users that is growing on a daily basis” due to the “extremely” quick adoption of blockchain technology on the continent. Related: Crypto users in Africa grew by 2,500% in 2021: ReportWith mass adoption, however, may come regulation. Metodiev said that even though a free market should not mix with politics, some regulation is to be expected: “It’s a pipe-dream if we believe we live in a rose-colored bubble” and expect millions of dollars to flow in without any policies or procedures. Kavvathas agreed that it’s inevitable that crypto be folded into the standard regulatory structure despite the community’s hesitation towards it. Cornèr then asked what can be done to accelerate the responsible use of cryptocurrency in accordance with the environmental, social and governance, or ESG, agenda set by the United Nations. Metodiev expressed that the more vocal institutions are about their commitment to ESG goals, the more that service providers may support these initiatives, but that it starts with a larger investment in blockchain technology. Kavvathas spoke about Amber Group’s partnership with climate tech company Moss Earth and its program to tokenize carbon offsets of Bitcoin transactions. He added that “blockchain companies are extremely well placed to deliver climate change solutions” but that there needs to be a “tailwind” from governments and regulators following their lead.Another topic of conversation included what institutions may be seeking in terms of returns. Nexo’s Metodiev pointed out that institutions perceive returns and risk differently than do retail investors, emphasizing that institutional interest is based on how opportunities are perceived. He said that for institutional investors, it may be more important to enter a space where they can deploy billions of dollars and receive returns of 7%–12% consistently year-over-year as opposed to chasing 70%–80% returns. The discussion wrapped with Kavvathas expressing his excitement toward tokenomics and the incentives associated with permissionless blockchains, which can enable the crypto community to bridge and overcome obstacles to sustainability investing. 

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