Bitcoin
Jack Dorsey Muses On Social Media Takeover, Ethereum Weaknesses; Plus The Latest in Crypto Mining –
Former Twitter CEO Jack Dorsey ponders Ethereum’s “single points of failure” and whether one man should be able to control an entire social media network, while Bitcoin.com News gives you the latest scoop in the world of ETH and BTC mining rigs. One economist believes that the U.S. central banks’ response to the inflationary pressures could be beneficial for crypto prices. This is your digest of the week’s most important crypto news: The Bitcoin.com News Week in Review.
Jack Dorsey on Ethereum’s ‘Single Points of Failure’
Jack Dorsey is an internet entrepreneur who was the former CEO of Twitter. He claims that developers building on Ethereum have “at most one, if no more than many single points of failure .”
The statement was made in response to Vitalik Buterin’s comment about Elon Musk using Twitter.
Today’s Top ETH and BTC Mining Devices Continue to Rake in Profits
As the crypto economy is just below $2 trillion in value and making decent profits, application-specific integrated Circuit (ASIC) mining devices have been a boon.
While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51. 58 per day in profits.
Microbt Reveals Latest Bitcoin Mining Rigs
Microbt, a manufacturer of mining devices, has also announced the launch two new bitcoin miners.
Revealed during the Bitcoin 22 conference in Miami, Microbt showcased the company’s new Whatsminer M50 series, which offers hashrate speeds of up to 126 terahash per second (TH/s).
Economist: Fed’s Response to Inflation Will Push Crypto Higher
Allianz Chief Economics Advisor Mohamed El-Erian claims that the Federal Reserve’s reaction to inflation will cause cryptocurrencies like bitcoin to “go higher .”
He said: “That’s what happens when you wait too long to recognize inflation and take action .”
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