A news website has figured out a novel, but controversial, way to cash in on the cryptocurrency craze and a country could run out of energy if the plans for several cryptocurrency mining centers materialize. Such concerns do not seem to bother cryptocurrency enthusiasts who remain optimistic regarding their outlook.
Here is a wrap up of the main news from the cryptocurrency market over the last 24 hours.
Salon Taps Readers’ Computers To Mine Cryptocurrency
Salon, an American news website, has started giving readers an option either to mine cryptocurrencies or turn-off their ad-blockers that are increasingly eating into media company revenues. Visitors to the website will be asked to either turn off their ad-blocker or “suppress ads” . The later option means users can block the ads, but Salon will use their computer processors to mine Monero, a cryptocurrency focused on transaction privacy, using a software known as Coinhive.
Iceland Could Run Out Of Energy This Year Due To Cryptocurrency Mining
Iceland may runs the risk of exhausting its energy sources this year if consumption for cryptocurrency mining exceeds household power use, the country’s energy company has warned. Officials from the energy company HS Orka told the BBC that they will not have sufficient energy to meet the demand from the several Bitcoin mining centers proposed.
Cryptocurrencies Not Going Away Anytime Soon, Ripple CEO Says
Cryptocurrencies as an asset class is unlikely to disappear anytime soon, Ripple CEO Brad Garlinghouse said Tuesday at an event in San Fransisco. Ripple, which develops blockchain-based payment networks for banks and financial institutions, is essentially “a payments company”, he said. The company has its own cryptocurrency called Ripple itself, which is among the top five cryptocurrencies by market capitalization, according to CoinMarketCap.
Kraken CEO Predicts $1 Trillion Market Valuation for Cryptocurrencies This Year
Market capitalization of all cryptocurrencies would hit $1 trillion this year, Jesse Powell, found and CEO of Kraken, a leading digital currency exchange, told CNBC. He expects continued acceleration of growth of the cryptocurrency market. The market capitalization of all cryptocurrencies was around $417 billion on February 13, according to CoinMarketCap.
Japan’s Hacked Coincheck Crypto Exchange Resumes Yen Withdrawals
Coincheck, the Japanese cryptocurrency exchange that was hacked in January which led to a loss of $530 million in NEM coins, resumed yen withdrawals as announced on February 9. The company said in a statement on its website that it has processed 40.1 billion yen withdrawals as of February 13.
As of 6.50 am ET on Wednesday, Bitcoin was up 3.69 percent at $8,876.00 and Ethereum was higher by 3.75 percent at $868.45 on Coinbase.