2013 Bitcoin Wallet Transfer: $60.7 Million Worth of Cryptocurrency Moved

 

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A wallet that hasn't been touched since 2013 was awakened and transferred 2,071 Bitcoins worth a staggering $60 million on the 20th April 2023

These Bitcoin were bought when the price was at a mere $663 each meaning the buyer received a staggering profit of  4,258%, not only this but they still have another 4000BTC left in the wallet

I find it absolutely insane that someone manages to hold onto that kind of wealth for 9 years and decide to sell now and not when Bitcoin peaked at over $60k

Coinbase Obtains Bermuda License

 

You may have heard that Coinbase, one of the largest cryptocurrency exchanges in the world, has recently been granted a digital asset business license in Bermuda. This news is significant, as it marks a milestone for the company's global expansion efforts and for the cryptocurrency industry as a whole.

So, why did Coinbase decide to move to Bermuda? One factor is the island's more favorable regulations and tax policies. Bermuda has been positioning itself as a hub for the digital asset industry, and its Digital Asset Business Act, passed in 2018, provides a regulatory framework that is more accommodating to digital asset businesses. Additionally, Bermuda does not have any income tax or capital gains tax, making it an attractive location for businesses looking to operate in a more tax-friendly environment.

With this license, Coinbase can now offer its services to residents of Bermuda, as well as to international clients who are interested in trading digital assets in a regulated environment. This includes buying, selling, and storing digital assets such as Bitcoin, Ethereum, and other cryptocurrencies. Coinbase can also facilitate payments and provide other financial services related to digital assets.

But it's not just about favorable regulations and taxes. Coinbase's move to Bermuda also demonstrates its commitment to regulatory compliance and its willingness to work with regulators to establish clear and consistent rules for the industry. The license requires Coinbase to adhere to strict regulatory standards and to maintain robust anti-money laundering (AML) and know-your-customer (KYC) procedures. This aligns with the company's efforts to provide a safe and secure trading environment for its users.

Coinbase's expansion into Bermuda is just one example of the company's global reach. It currently serves more than 56 million users in over 100 countries and is constantly seeking new ways to provide better services to its customers. The Bermuda license is also an important step forward for the cryptocurrency industry, as it helps establish a more stable and secure environment for investors and businesses alike.

In conclusion, Coinbase's digital asset business license in Bermuda is a significant development for the company and the cryptocurrency industry. The move to Bermuda may have been motivated by the island's favorable regulatory and tax policies, but it also demonstrates Coinbase's commitment to regulatory compliance and to providing a safe and secure trading environment for its users. As the industry continues to evolve and grow, we can expect to see more developments like this that help establish a stable and sustainable future for digital assets.

Binance Earn No Longer Works in UK

 

Binance, one of the world's largest cryptocurrency exchanges, has announced that it will be stopping its Binance Earn program for UK customers. This move comes as a result of increasing regulatory scrutiny on crypto-related activities in the UK.

Binance Earn is a program that allows users to earn interest on their cryptocurrency holdings by staking or holding certain tokens on the exchange. However, as of 8th April 2023, UK customers will no longer be able to participate in the program.

According to a statement from Binance, the decision was made in response to the UK Financial Conduct Authority's (FCA) recent warning to consumers about the risks of investing in crypto assets. The FCA has also been cracking down on unregulated cryptocurrency exchanges, warning that some could be operating illegally.

This move by Binance is not entirely surprising, as the exchange has faced regulatory scrutiny in other countries as well. In 2021, both Japan and Germany issued warnings to the company for operating without proper licenses.

However, Binance has stated that it remains committed to working with regulators and ensuring that it is operating in compliance with all applicable laws and regulations. The company has also stated that it is working to introduce new products and services for UK customers that will comply with all regulatory requirements.

While the suspension of Binance Earn for UK customers is certainly disappointing for those who have been using the program to earn interest on their crypto holdings, it is important to remember that regulatory compliance is essential for the long-term sustainability of the crypto industry. As such, it is likely that other exchanges and crypto-related services will also face similar challenges as the regulatory landscape continues to evolve.

In conclusion, while the suspension of Binance Earn for UK customers may be a setback for some, it is ultimately a necessary step to ensure compliance with regulatory requirements. As the crypto industry continues to grow and mature, it is likely that we will see more such measures being taken by companies to ensure that they are operating within the bounds of the law.

Cheapest Places to Buy Bitcoin

 With Bitcoin at a huge low, currently $20000 at the time of writing this from its all time high of $69000 I get the usual questions being asked. Where can I buy Bitcoin! I will provide some links below on some of the cheapest places to buy Bitcoin with the lowest fees.

The other question I get asked "is Bitcoin dead?" I refer people to a few years ago when the price dropped from an all time high from $20000 down to $2000 adding its on sale 

1, Coinbase

Coinbase has to be one of the easiest and most simple platforms to buy crypto on, very fast to setup and very very easy to add your bank details and buy crypto. Not only can you buy Bitcoin but they have a long list of other crypto available for people to buy. 

Only downside is Coinbase fees can be higher than most other places, but this is an offset for ease and speed of use. 

Sign up to Coinbase here or click the image

2, Binance

Binance has become a huge player within the crypto industry, with its main focus being on trading and futures it has now become another place to buy crypto. They have a quick buy system similar to Coinbase which also has similar fees. Although you can get crypto for cheaper if you put some time in, bank deposits are charged a small fee and once the deposit has been recieved you can put it into your trading account and buy BTC or whatever crypto you want directly with lower fees. I would suggest having some knowledge on knowing how the platform works to do this, otherwise just use the simple buy option from the top tab

Sign up to Binance here

2070 Super Mining Setting Nicehash

 

Finally after tweaking I manged to get my settings to hit the sweet spot with Nicehash and drop my power consumption by 50W which is awesome when we are all about cost.

Here are my MSI afterburner settings which you should be able to straight copy 

Core Voltage 0

Power Limit 60

Temp limit 66

Core clock -50

Memory Clock +1000

Fan speed either auto or I set mine at 80

This may vary from card to card but bringing down the power usage and upping my MH/s is exactly what I was looking for. Remember you are responsable for your GPU, if you blow it up its your fault :D

Ethereum surges past all time high GPU's Moon In Price

 

GPU prices are currently insane, 3060ti's selling for over £1k here in the UK when the recommended retail is only £400. This is all down to the current surge in Ethereum which has smash all time high after all time high and honestly I dont know where its going to stop. Vitalik Buterin has now become one of the youngest billionaires ever with a staggering 330,000 Ethereum. 

Going by whattomine.com it seems pretty much every GPU is now back in the green, and even over here with our high electricity costs it is not profitable to get our GPU's mining again. It sucks that I sold all my GPU rigs and now its even impossible to even consider buying any due to the huge over pricing because of the demand. Getting a 30 series if your a gamer is damn impossible, and until Ethereum comes down in price which it does not look likely to do anytime soon GPU's are going to still be selling like mad

If you have a gaming PC with a fairly good GPU in it might be worth looking at setting it to mine while your PC is idle. If you head over to whattomine.com you can see excatly how much it will cost and how much you will make as long as you know your KWH cost. Then I highly recommend just using Nicehash for its ease of use, their miner can be found here

Tesla Pumps BTC

 

If you havent heard by now where have your been? BTC is current sitting at $47k and this is all down to Tesla buying a whopping $1.5billion in BTC, this drove use from $37k to $47k and also gave us the largest one day candle ever seen for BTC

Also as always ETH is following BTC hitting all time highs of $1700 which is giving huge hope to the GPU miners who are now returning a nice profit on their rigs. I have even booted two of mine back up and with my expensive exlectricity cost even I am returning a profit.

Where can we go from here? Well rumours are we arent going to stop with Tesla, a recent report has found that Apple yes Apple are looking into the posibility of a crypto exchange. I mean if there is even the slightest rumour to this then it is absolutely huge news, crypto coming to the hands of 1.4billion Apple devices?

We will have to wait and see! Trying to get the blog going again seeing as I have been back into the crypto space for the last few months and my rigs are back on, we might even see if we can get our .com address back! In the mean time dont miss the BTC run and buy some now via Binance