Top news of the week
Memecoin hype pushes Bitcoin transaction fees to multi-year highs
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The exuberant trading of memecoins like Pepe has had unfavorable consequences for Bitcoin (BTC), pushing transaction costs to a two-year high. On May 3, total fees paid on the Bitcoin blockchain reached his $3.5 million, up nearly 400% since late April. His BRC-20 token standard for Bitcoin has become the latest trend in the crypto ecosystem amid the rise of memecoins. A total of 8,500 different tokens were created using the BRC-20 standard. Ethereum blockchain gas prices have also recently surged to multi-month highs.
Bitcoin miners have earned $50 billion from BTC block rewards and fees since 2010
Amid an ongoing debate about miner costs and Bitcoin’s vulnerability to price declines, the new numbers suggest that miners will certainly be profitable in the long run. Fees and block reward subsidies have earned miners billions of dollars since 2010, according to calculations by on-chain analytics firm Glassnode. Miner’s total revenue for the entire period is nearly 40% higher than the estimated cost, at $50.2 billion and $36.6 billion for him respectively.
‘Godfather of AI’ resigns from Google, warns of AI dangers
Dr. Geoffrey Hinton, an artificial intelligence pioneer and former Google employee, shared his concerns about the technology he has helped develop over the past few years. Neural network experts say AI could pose a threat to humanity in the future because it learns unexpected behavior from the large amounts of data it analyzes. He is also concerned about his continuing AI arms race to develop deadly autonomous weapon systems and the growing number of fake photos, videos and texts flooding the internet. is holding
Balaji Pays Crazy $1 Million Bitcoin Bet, Falling 97% Below Price Target
A wild Bitcoin price bet between former Coinbase Chief Technology Officer Balaji Srinivasan and pseudonymous Twitter user James Medlock settled for $1.5 million 45 days ago. proposed betting $1 million that the United States would not experience hyperinflation on March 17. A former Coinbase executive has accepted the bet, predicting that inflation will deflate the US dollar and, as a result, BTC will reach $1 million within 90 years. day to day. The deal saw Medlock win his $500,000 plus his $1 million going to his two organizations.
Microsoft Ends Bing Waitlist, Gives Users Free Access to GPT-4
Microsoft recently announced a number of new AI-powered features for its Bing chatbot and Edge web browser. This includes full access to his GPT-4 model, the same underlying engine that powers the ChatGPT Plus subscription service. No purchases or subscriptions for new features are required, but the user will need his free Microsoft account to take advantage of all the features of his Bing chatbot. In contrast, OpenAI’s ChatGPT Plus service costs $20 a month to access the same GPT-4 model of his.
winner and loser
Bitcoin for the weekend (Bitcoin) is $29,618,ether (ethereum) and $1,991 and XRP and $0.46The total market capitalization is $1.22 trillion, according to Go to Coin Market Cap.
Among the 100 biggest cryptocurrencies, this week’s top 3 altcoin earners are Pepe (Pepe) 961.32%, Floki (Floki) 35.36% and Rocket Pool (RPL) at 10.15%.
This Week’s Top 3 Altcoin Losers Are Sui (Sui) -70.87%, unchanged (IMX) -10.68% and Chronos (CRO) -10.06%.
For more information on crypto prices, be sure to read Cointelegraph’s market analysis.
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most memorable quotes
“Even in such America [CDBC] It’s been a topic of little interest for quite some time, but now it’s engaging and for good reason. ”
Kristalina GeorgievaManaging Director of the International Monetary Fund
“I used my own money to send an obviously costly signal that something was wrong with the economy and that it wouldn’t be the ‘soft landing’ that Chairman Powell promised.
Balaji SrinivasanFormer CTO of Coinbase
“In the next ten years there will be very few people who will not be involved in this issue. [crypto] sector. “
Lisa Cameronmember of the British Parliament
“It’s this uncertainty that permeates everything. You just don’t know what’s going to happen next, where it’s coming from, why, how it’s going to happen in America.”
Oliver LynchCEO of Bittrex Global
“I console myself with the usual excuse: if I hadn’t done it [co-developed modern artificial intelligence]someone else would have.
Jeffrey Hintonan artificial intelligence pioneer known as the “Godfather of AI”
“Well, I think we have both. [banking crisis] Limited to First Republic.
Bob MicheleChief Investment Officer, JP Morgan Asset Management
Forecast for the week
Bitcoin price sets May high above $29.5K as breakout in traders’ eyes
Bitcoin set its sights on regaining more lost ground on May 5 with $30,000 left. The BTC/USD pair fell to U.S. equities at the previous day’s Wall Street opening, but the bearishness was short-lived as support returned at $29,000.
Alan, a popular pseudonymous trader also known as Trader Tardigrade, was optimistic about the upward continuation that could mimic a breakout from late 2020. He added that the moment was preparation for “the incoming bull run.”
FUD of the week
Argentina’s Central Bank Bans Use Of Cryptocurrencies From Payment Apps
FBI, Ukraine Seize 9 Exchange Domains Over Money Laundering Suspicion
Nine digital currency exchanges allegedly aiding and abetting cybercriminals have their domains seized by the US Federal Bureau of Investigation and Ukrainian law enforcement. Domains seized included 24xbtc.com, 100btc.pro, pridechange.com, trust-exchange.org, and bitcoin24.exchange. The websites reportedly offered anonymous cryptocurrency exchange services and circumvented many of the rules and regulations required of licensed companies.
Darknet hackers sell cryptocurrency accounts for as low as $30
Cybercriminals from the dark side of the internet are reportedly selling hacked and verified crypto accounts on the darknet for as little as $30 each. Hacked accounts can be used to illegally circumvent Know Your Customer measures on popular cryptocurrency exchanges. But it’s not just cryptocurrency accounts that are on the list. Credit card account information with up to $5,000 balance sells for just $110, and online bank account login credentials with up to $2,000 balance sells for $60.
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