Daily Crypto NewsEDITION #245, 23 June 2021

Next stop? Kazakhstan!

Hey #Moni Maker 🛴

Today, in 1998, for the first time in the world, a human brain cell was transplanted. Of course, the brain is a very important thing for everyone. But, as practice shows, not all individuals of the human race need it. For some, a pair of neural connections is enough to spread FUD, and that's all.

Well, in order to read the Digest, this organ is still needed. Let’s go!

BTC.com — a major crypto mining pool that is operated by BIT Mining and owned by the NYSE-listed Chinese lottery service provider 500.com — has announced the successful relocation of its first batch of mining machines to Kazakhstan.

BTC.com was founded by Jihan Wu and was operated by Bitmain and Bitdeer until its acquisition by 500.com this February. As of the time of writing, the pool is the world’s fifth-largest, validating 10.4% of blocks on the Bitcoin blockchain.

The relocation comes after the company was notified by the state grid in western Sichuan province that the power supply serving one of its local data centers would be suspended imminently. In its announcement yesterday, BIT Mining stated:

“On June 19, 2021, the Company’s indirectly held subsidiary, Ganzi Changhe Hydropower Consumption Service Co. Ltd [...] received notice [...] from State Grid Sichuan Ganzi Electric Power Co., Ltd. [...] informing Ganzi Changhe Data Center, that its power supply would be suspended, effective 9:00pm Beijing time, June 19, 2021. Ganzi Changhe Data Center has since suspended its operations. Data centers in Sichuan, including the Ganzi Changhe Data Center, contributed approximately 3% of the Company’s total revenues in the month of May 2021.”

So what?

It’s strange. Do the communists from China generally understand where they are shooting? After all, the communists usually shoot in the backs of other people, but not themselves ...

We're joking. Well, about the communists. Don't cry if you keep Stalin's portrait under your pillow. But here it is impossible to put it bluntly and otherwise ...

Tether manages more than $ 60 billion. But there are only 13 officially listed employees (according to their linkedin). According to simple calculations, it turns out about $ 5 billion per person.

At the moment, this is a record. The previous record holder was Bernie Madoff's Ponzi scheme with $ 50 billion under management and 25 employees.

So what?

Well, the guys still have everything ahead ... :)

Bitcoin fell sharply after the People's Bank of China issued an official statement on its position on Bitcoin .. in December 2013. Bitcoin then fell from $ 1200 to $ 800.

Information for those who are new to the market: if it seems to you that the ban on Bitcoin in China is something new and very scary, just look at the infographic and find out that China has been banning Bitcoin since 2013. The old sure way to crash the course.

Falling Knife — is a trading term for a rapid drop in the price of an asset. Often used in the phrase “Trying to catch a falling knife,” which means the trader is trying to catch the bottom after a sharp drop. Very often speculators get a second bottom as a gift to the first one.

And more you can find in our Glossary!

And you...buy Bitcoin! 😉 (it's a good time!)