\n
\nhttps:\/\/twitter.com\/JoshGerben\/status\/1491449758967562240?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1491449758967562240%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fbeincrypto.com%2Fmcdonalds-filed-10-trademark-applications-for-the-metaverse%2F\n<\/div><\/figure>\n\n\n\n

McDonald\u2019s is additionally planning to create \u201cvirtual concerts and other virtual events\u201d and virtual restaurants \u201cfeaturing actual and virtual goods.\u201d <\/p>\n","post_title":"10 Trademarks Filed By McDonald's For The Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"10-trademarks-filed-by-mcdonalds-for-the-metaverse","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:02","post_modified_gmt":"2023-04-11 02:55:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3480","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/JoshGerben\/status\/1491449758967562240?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1491449758967562240%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fbeincrypto.com%2Fmcdonalds-filed-10-trademark-applications-for-the-metaverse%2F\n<\/div><\/figure>\n\n\n\n

McDonald\u2019s is additionally planning to create \u201cvirtual concerts and other virtual events\u201d and virtual restaurants \u201cfeaturing actual and virtual goods.\u201d <\/p>\n","post_title":"10 Trademarks Filed By McDonald's For The Metaverse","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"10-trademarks-filed-by-mcdonalds-for-the-metaverse","to_ping":"","pinged":"","post_modified":"2023-04-11 12:55:02","post_modified_gmt":"2023-04-11 02:55:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3480","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n
\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

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ADVERTISEMENT
\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Only Available To Existing Users, So Far<\/h2>\n\n\n\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Sling TV is another large corporation to accept Dogecoin, following Elon Musks' announcement <\/a>last week for Tesla to accept Dogecoin at charging stations.<\/p>\n\n\n\n

Only Available To Existing Users, So Far<\/h2>\n\n\n\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

\"Beginning this week, Sling TV subscribers can use cryptocurrency to pay for their monthly subscription. Through the payment provider Bitpay, users can now select and pay for their favorite digital streaming service with their preferred digital currency \u2013 whether it\u2019s bitcoin, ethereum or dogecoin.<\/em>\"<\/strong><\/p><\/blockquote>\n\n\n\n

Sling TV is another large corporation to accept Dogecoin, following Elon Musks' announcement <\/a>last week for Tesla to accept Dogecoin at charging stations.<\/p>\n\n\n\n

Only Available To Existing Users, So Far<\/h2>\n\n\n\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

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\n
\nhttps:\/\/twitter.com\/DISHNews\/status\/1494702599446036481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494702599446036481%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fau.finance.yahoo.com%2Fnews%2Fsling-tv-accept-dogecoin-other-165039935.html\n<\/div><\/figure>\n\n\n\n

\"Beginning this week, Sling TV subscribers can use cryptocurrency to pay for their monthly subscription. Through the payment provider Bitpay, users can now select and pay for their favorite digital streaming service with their preferred digital currency \u2013 whether it\u2019s bitcoin, ethereum or dogecoin.<\/em>\"<\/strong><\/p><\/blockquote>\n\n\n\n

Sling TV is another large corporation to accept Dogecoin, following Elon Musks' announcement <\/a>last week for Tesla to accept Dogecoin at charging stations.<\/p>\n\n\n\n

Only Available To Existing Users, So Far<\/h2>\n\n\n\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The addition of crypto payment as an option means that Litecoin<\/a>,\u00a0Bitcoin<\/a>,\u00a0Ethereum<\/a>,\u00a0Bitcoin Cash<\/a>,\u00a0Wrapped Bitcoin<\/a>, Dogecoin<\/a>, and\u00a0Shiba Inu<\/a> are all viable currencies. Also accepting USD-pegged stablecoins<\/a>, including\u00a0GUSD<\/a>,\u00a0USDP<\/a>,\u00a0BUSD<\/a>,\u00a0DAI<\/a>, and\u00a0USDC<\/a>.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/DISHNews\/status\/1494702599446036481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494702599446036481%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fau.finance.yahoo.com%2Fnews%2Fsling-tv-accept-dogecoin-other-165039935.html\n<\/div><\/figure>\n\n\n\n

\"Beginning this week, Sling TV subscribers can use cryptocurrency to pay for their monthly subscription. Through the payment provider Bitpay, users can now select and pay for their favorite digital streaming service with their preferred digital currency \u2013 whether it\u2019s bitcoin, ethereum or dogecoin.<\/em>\"<\/strong><\/p><\/blockquote>\n\n\n\n

Sling TV is another large corporation to accept Dogecoin, following Elon Musks' announcement <\/a>last week for Tesla to accept Dogecoin at charging stations.<\/p>\n\n\n\n

Only Available To Existing Users, So Far<\/h2>\n\n\n\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Sling TV is a US-based streaming service owned by Dish Network. With over 2 million current subscribers.<\/p>\n\n\n\n

The addition of crypto payment as an option means that Litecoin<\/a>,\u00a0Bitcoin<\/a>,\u00a0Ethereum<\/a>,\u00a0Bitcoin Cash<\/a>,\u00a0Wrapped Bitcoin<\/a>, Dogecoin<\/a>, and\u00a0Shiba Inu<\/a> are all viable currencies. Also accepting USD-pegged stablecoins<\/a>, including\u00a0GUSD<\/a>,\u00a0USDP<\/a>,\u00a0BUSD<\/a>,\u00a0DAI<\/a>, and\u00a0USDC<\/a>.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/DISHNews\/status\/1494702599446036481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494702599446036481%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fau.finance.yahoo.com%2Fnews%2Fsling-tv-accept-dogecoin-other-165039935.html\n<\/div><\/figure>\n\n\n\n

\"Beginning this week, Sling TV subscribers can use cryptocurrency to pay for their monthly subscription. Through the payment provider Bitpay, users can now select and pay for their favorite digital streaming service with their preferred digital currency \u2013 whether it\u2019s bitcoin, ethereum or dogecoin.<\/em>\"<\/strong><\/p><\/blockquote>\n\n\n\n

Sling TV is another large corporation to accept Dogecoin, following Elon Musks' announcement <\/a>last week for Tesla to accept Dogecoin at charging stations.<\/p>\n\n\n\n

Only Available To Existing Users, So Far<\/h2>\n\n\n\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

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ADVERTISEMENT
\n

Sling TV has announced<\/a> that they are partnering with BitPay to accept crypto payments for their subscriptions.<\/p>\n\n\n\n

Sling TV is a US-based streaming service owned by Dish Network. With over 2 million current subscribers.<\/p>\n\n\n\n

The addition of crypto payment as an option means that Litecoin<\/a>,\u00a0Bitcoin<\/a>,\u00a0Ethereum<\/a>,\u00a0Bitcoin Cash<\/a>,\u00a0Wrapped Bitcoin<\/a>, Dogecoin<\/a>, and\u00a0Shiba Inu<\/a> are all viable currencies. Also accepting USD-pegged stablecoins<\/a>, including\u00a0GUSD<\/a>,\u00a0USDP<\/a>,\u00a0BUSD<\/a>,\u00a0DAI<\/a>, and\u00a0USDC<\/a>.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/DISHNews\/status\/1494702599446036481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494702599446036481%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fau.finance.yahoo.com%2Fnews%2Fsling-tv-accept-dogecoin-other-165039935.html\n<\/div><\/figure>\n\n\n\n

\"Beginning this week, Sling TV subscribers can use cryptocurrency to pay for their monthly subscription. Through the payment provider Bitpay, users can now select and pay for their favorite digital streaming service with their preferred digital currency \u2013 whether it\u2019s bitcoin, ethereum or dogecoin.<\/em>\"<\/strong><\/p><\/blockquote>\n\n\n\n

Sling TV is another large corporation to accept Dogecoin, following Elon Musks' announcement <\/a>last week for Tesla to accept Dogecoin at charging stations.<\/p>\n\n\n\n

Only Available To Existing Users, So Far<\/h2>\n\n\n\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3553,"post_author":"1","post_date":"2022-02-22 20:56:19","post_date_gmt":"2022-02-22 09:56:19","post_content":"\n

Sling TV has announced<\/a> that they are partnering with BitPay to accept crypto payments for their subscriptions.<\/p>\n\n\n\n

Sling TV is a US-based streaming service owned by Dish Network. With over 2 million current subscribers.<\/p>\n\n\n\n

The addition of crypto payment as an option means that Litecoin<\/a>,\u00a0Bitcoin<\/a>,\u00a0Ethereum<\/a>,\u00a0Bitcoin Cash<\/a>,\u00a0Wrapped Bitcoin<\/a>, Dogecoin<\/a>, and\u00a0Shiba Inu<\/a> are all viable currencies. Also accepting USD-pegged stablecoins<\/a>, including\u00a0GUSD<\/a>,\u00a0USDP<\/a>,\u00a0BUSD<\/a>,\u00a0DAI<\/a>, and\u00a0USDC<\/a>.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/DISHNews\/status\/1494702599446036481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494702599446036481%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fau.finance.yahoo.com%2Fnews%2Fsling-tv-accept-dogecoin-other-165039935.html\n<\/div><\/figure>\n\n\n\n

\"Beginning this week, Sling TV subscribers can use cryptocurrency to pay for their monthly subscription. Through the payment provider Bitpay, users can now select and pay for their favorite digital streaming service with their preferred digital currency \u2013 whether it\u2019s bitcoin, ethereum or dogecoin.<\/em>\"<\/strong><\/p><\/blockquote>\n\n\n\n

Sling TV is another large corporation to accept Dogecoin, following Elon Musks' announcement <\/a>last week for Tesla to accept Dogecoin at charging stations.<\/p>\n\n\n\n

Only Available To Existing Users, So Far<\/h2>\n\n\n\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3553,"post_author":"1","post_date":"2022-02-22 20:56:19","post_date_gmt":"2022-02-22 09:56:19","post_content":"\n

Sling TV has announced<\/a> that they are partnering with BitPay to accept crypto payments for their subscriptions.<\/p>\n\n\n\n

Sling TV is a US-based streaming service owned by Dish Network. With over 2 million current subscribers.<\/p>\n\n\n\n

The addition of crypto payment as an option means that Litecoin<\/a>,\u00a0Bitcoin<\/a>,\u00a0Ethereum<\/a>,\u00a0Bitcoin Cash<\/a>,\u00a0Wrapped Bitcoin<\/a>, Dogecoin<\/a>, and\u00a0Shiba Inu<\/a> are all viable currencies. Also accepting USD-pegged stablecoins<\/a>, including\u00a0GUSD<\/a>,\u00a0USDP<\/a>,\u00a0BUSD<\/a>,\u00a0DAI<\/a>, and\u00a0USDC<\/a>.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/DISHNews\/status\/1494702599446036481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494702599446036481%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fau.finance.yahoo.com%2Fnews%2Fsling-tv-accept-dogecoin-other-165039935.html\n<\/div><\/figure>\n\n\n\n

\"Beginning this week, Sling TV subscribers can use cryptocurrency to pay for their monthly subscription. Through the payment provider Bitpay, users can now select and pay for their favorite digital streaming service with their preferred digital currency \u2013 whether it\u2019s bitcoin, ethereum or dogecoin.<\/em>\"<\/strong><\/p><\/blockquote>\n\n\n\n

Sling TV is another large corporation to accept Dogecoin, following Elon Musks' announcement <\/a>last week for Tesla to accept Dogecoin at charging stations.<\/p>\n\n\n\n

Only Available To Existing Users, So Far<\/h2>\n\n\n\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

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ADVERTISEMENT
\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3553,"post_author":"1","post_date":"2022-02-22 20:56:19","post_date_gmt":"2022-02-22 09:56:19","post_content":"\n

Sling TV has announced<\/a> that they are partnering with BitPay to accept crypto payments for their subscriptions.<\/p>\n\n\n\n

Sling TV is a US-based streaming service owned by Dish Network. With over 2 million current subscribers.<\/p>\n\n\n\n

The addition of crypto payment as an option means that Litecoin<\/a>,\u00a0Bitcoin<\/a>,\u00a0Ethereum<\/a>,\u00a0Bitcoin Cash<\/a>,\u00a0Wrapped Bitcoin<\/a>, Dogecoin<\/a>, and\u00a0Shiba Inu<\/a> are all viable currencies. Also accepting USD-pegged stablecoins<\/a>, including\u00a0GUSD<\/a>,\u00a0USDP<\/a>,\u00a0BUSD<\/a>,\u00a0DAI<\/a>, and\u00a0USDC<\/a>.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/DISHNews\/status\/1494702599446036481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494702599446036481%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fau.finance.yahoo.com%2Fnews%2Fsling-tv-accept-dogecoin-other-165039935.html\n<\/div><\/figure>\n\n\n\n

\"Beginning this week, Sling TV subscribers can use cryptocurrency to pay for their monthly subscription. Through the payment provider Bitpay, users can now select and pay for their favorite digital streaming service with their preferred digital currency \u2013 whether it\u2019s bitcoin, ethereum or dogecoin.<\/em>\"<\/strong><\/p><\/blockquote>\n\n\n\n

Sling TV is another large corporation to accept Dogecoin, following Elon Musks' announcement <\/a>last week for Tesla to accept Dogecoin at charging stations.<\/p>\n\n\n\n

Only Available To Existing Users, So Far<\/h2>\n\n\n\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

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\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3553,"post_author":"1","post_date":"2022-02-22 20:56:19","post_date_gmt":"2022-02-22 09:56:19","post_content":"\n

Sling TV has announced<\/a> that they are partnering with BitPay to accept crypto payments for their subscriptions.<\/p>\n\n\n\n

Sling TV is a US-based streaming service owned by Dish Network. With over 2 million current subscribers.<\/p>\n\n\n\n

The addition of crypto payment as an option means that Litecoin<\/a>,\u00a0Bitcoin<\/a>,\u00a0Ethereum<\/a>,\u00a0Bitcoin Cash<\/a>,\u00a0Wrapped Bitcoin<\/a>, Dogecoin<\/a>, and\u00a0Shiba Inu<\/a> are all viable currencies. Also accepting USD-pegged stablecoins<\/a>, including\u00a0GUSD<\/a>,\u00a0USDP<\/a>,\u00a0BUSD<\/a>,\u00a0DAI<\/a>, and\u00a0USDC<\/a>.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/DISHNews\/status\/1494702599446036481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494702599446036481%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fau.finance.yahoo.com%2Fnews%2Fsling-tv-accept-dogecoin-other-165039935.html\n<\/div><\/figure>\n\n\n\n

\"Beginning this week, Sling TV subscribers can use cryptocurrency to pay for their monthly subscription. Through the payment provider Bitpay, users can now select and pay for their favorite digital streaming service with their preferred digital currency \u2013 whether it\u2019s bitcoin, ethereum or dogecoin.<\/em>\"<\/strong><\/p><\/blockquote>\n\n\n\n

Sling TV is another large corporation to accept Dogecoin, following Elon Musks' announcement <\/a>last week for Tesla to accept Dogecoin at charging stations.<\/p>\n\n\n\n

Only Available To Existing Users, So Far<\/h2>\n\n\n\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3553,"post_author":"1","post_date":"2022-02-22 20:56:19","post_date_gmt":"2022-02-22 09:56:19","post_content":"\n

Sling TV has announced<\/a> that they are partnering with BitPay to accept crypto payments for their subscriptions.<\/p>\n\n\n\n

Sling TV is a US-based streaming service owned by Dish Network. With over 2 million current subscribers.<\/p>\n\n\n\n

The addition of crypto payment as an option means that Litecoin<\/a>,\u00a0Bitcoin<\/a>,\u00a0Ethereum<\/a>,\u00a0Bitcoin Cash<\/a>,\u00a0Wrapped Bitcoin<\/a>, Dogecoin<\/a>, and\u00a0Shiba Inu<\/a> are all viable currencies. Also accepting USD-pegged stablecoins<\/a>, including\u00a0GUSD<\/a>,\u00a0USDP<\/a>,\u00a0BUSD<\/a>,\u00a0DAI<\/a>, and\u00a0USDC<\/a>.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/DISHNews\/status\/1494702599446036481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494702599446036481%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fau.finance.yahoo.com%2Fnews%2Fsling-tv-accept-dogecoin-other-165039935.html\n<\/div><\/figure>\n\n\n\n

\"Beginning this week, Sling TV subscribers can use cryptocurrency to pay for their monthly subscription. Through the payment provider Bitpay, users can now select and pay for their favorite digital streaming service with their preferred digital currency \u2013 whether it\u2019s bitcoin, ethereum or dogecoin.<\/em>\"<\/strong><\/p><\/blockquote>\n\n\n\n

Sling TV is another large corporation to accept Dogecoin, following Elon Musks' announcement <\/a>last week for Tesla to accept Dogecoin at charging stations.<\/p>\n\n\n\n

Only Available To Existing Users, So Far<\/h2>\n\n\n\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3553,"post_author":"1","post_date":"2022-02-22 20:56:19","post_date_gmt":"2022-02-22 09:56:19","post_content":"\n

Sling TV has announced<\/a> that they are partnering with BitPay to accept crypto payments for their subscriptions.<\/p>\n\n\n\n

Sling TV is a US-based streaming service owned by Dish Network. With over 2 million current subscribers.<\/p>\n\n\n\n

The addition of crypto payment as an option means that Litecoin<\/a>,\u00a0Bitcoin<\/a>,\u00a0Ethereum<\/a>,\u00a0Bitcoin Cash<\/a>,\u00a0Wrapped Bitcoin<\/a>, Dogecoin<\/a>, and\u00a0Shiba Inu<\/a> are all viable currencies. Also accepting USD-pegged stablecoins<\/a>, including\u00a0GUSD<\/a>,\u00a0USDP<\/a>,\u00a0BUSD<\/a>,\u00a0DAI<\/a>, and\u00a0USDC<\/a>.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/DISHNews\/status\/1494702599446036481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494702599446036481%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fau.finance.yahoo.com%2Fnews%2Fsling-tv-accept-dogecoin-other-165039935.html\n<\/div><\/figure>\n\n\n\n

\"Beginning this week, Sling TV subscribers can use cryptocurrency to pay for their monthly subscription. Through the payment provider Bitpay, users can now select and pay for their favorite digital streaming service with their preferred digital currency \u2013 whether it\u2019s bitcoin, ethereum or dogecoin.<\/em>\"<\/strong><\/p><\/blockquote>\n\n\n\n

Sling TV is another large corporation to accept Dogecoin, following Elon Musks' announcement <\/a>last week for Tesla to accept Dogecoin at charging stations.<\/p>\n\n\n\n

Only Available To Existing Users, So Far<\/h2>\n\n\n\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

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\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3553,"post_author":"1","post_date":"2022-02-22 20:56:19","post_date_gmt":"2022-02-22 09:56:19","post_content":"\n

Sling TV has announced<\/a> that they are partnering with BitPay to accept crypto payments for their subscriptions.<\/p>\n\n\n\n

Sling TV is a US-based streaming service owned by Dish Network. With over 2 million current subscribers.<\/p>\n\n\n\n

The addition of crypto payment as an option means that Litecoin<\/a>,\u00a0Bitcoin<\/a>,\u00a0Ethereum<\/a>,\u00a0Bitcoin Cash<\/a>,\u00a0Wrapped Bitcoin<\/a>, Dogecoin<\/a>, and\u00a0Shiba Inu<\/a> are all viable currencies. Also accepting USD-pegged stablecoins<\/a>, including\u00a0GUSD<\/a>,\u00a0USDP<\/a>,\u00a0BUSD<\/a>,\u00a0DAI<\/a>, and\u00a0USDC<\/a>.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/DISHNews\/status\/1494702599446036481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494702599446036481%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fau.finance.yahoo.com%2Fnews%2Fsling-tv-accept-dogecoin-other-165039935.html\n<\/div><\/figure>\n\n\n\n

\"Beginning this week, Sling TV subscribers can use cryptocurrency to pay for their monthly subscription. Through the payment provider Bitpay, users can now select and pay for their favorite digital streaming service with their preferred digital currency \u2013 whether it\u2019s bitcoin, ethereum or dogecoin.<\/em>\"<\/strong><\/p><\/blockquote>\n\n\n\n

Sling TV is another large corporation to accept Dogecoin, following Elon Musks' announcement <\/a>last week for Tesla to accept Dogecoin at charging stations.<\/p>\n\n\n\n

Only Available To Existing Users, So Far<\/h2>\n\n\n\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

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\n

Jordan Birnholtz, CMO and co-founder of Neon states that \u201cwhile only 2% of Americans have digital wallets, 80% have a credit card or debit card,\u201d adding that \u201cNeon started with fiat because our mission is unique, to bring digital art and collecting to the largest possible audience,\u201d<\/p>\n","post_title":"World's First NFT Vending Machine Launched In NYC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"worlds-first-nft-vending-machine-launched-in-nyc","to_ping":"","pinged":"","post_modified":"2022-02-23 19:11:57","post_modified_gmt":"2022-02-23 08:11:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3564","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3553,"post_author":"1","post_date":"2022-02-22 20:56:19","post_date_gmt":"2022-02-22 09:56:19","post_content":"\n

Sling TV has announced<\/a> that they are partnering with BitPay to accept crypto payments for their subscriptions.<\/p>\n\n\n\n

Sling TV is a US-based streaming service owned by Dish Network. With over 2 million current subscribers.<\/p>\n\n\n\n

The addition of crypto payment as an option means that Litecoin<\/a>,\u00a0Bitcoin<\/a>,\u00a0Ethereum<\/a>,\u00a0Bitcoin Cash<\/a>,\u00a0Wrapped Bitcoin<\/a>, Dogecoin<\/a>, and\u00a0Shiba Inu<\/a> are all viable currencies. Also accepting USD-pegged stablecoins<\/a>, including\u00a0GUSD<\/a>,\u00a0USDP<\/a>,\u00a0BUSD<\/a>,\u00a0DAI<\/a>, and\u00a0USDC<\/a>.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/DISHNews\/status\/1494702599446036481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494702599446036481%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fau.finance.yahoo.com%2Fnews%2Fsling-tv-accept-dogecoin-other-165039935.html\n<\/div><\/figure>\n\n\n\n

\"Beginning this week, Sling TV subscribers can use cryptocurrency to pay for their monthly subscription. Through the payment provider Bitpay, users can now select and pay for their favorite digital streaming service with their preferred digital currency \u2013 whether it\u2019s bitcoin, ethereum or dogecoin.<\/em>\"<\/strong><\/p><\/blockquote>\n\n\n\n

Sling TV is another large corporation to accept Dogecoin, following Elon Musks' announcement <\/a>last week for Tesla to accept Dogecoin at charging stations.<\/p>\n\n\n\n

Only Available To Existing Users, So Far<\/h2>\n\n\n\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

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\n

Purchasing an NFT can be a daunting task to those not familiar with Web 3 and Blockchain. Neon hopes to \"bring digital art and collecting to the largest possible audience\". An NFT vending machine is surely one way to attract a lot of attention.<\/p>\n\n\n\n

Jordan Birnholtz, CMO and co-founder of Neon states that \u201cwhile only 2% of Americans have digital wallets, 80% have a credit card or debit card,\u201d adding that \u201cNeon started with fiat because our mission is unique, to bring digital art and collecting to the largest possible audience,\u201d<\/p>\n","post_title":"World's First NFT Vending Machine Launched In NYC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"worlds-first-nft-vending-machine-launched-in-nyc","to_ping":"","pinged":"","post_modified":"2022-02-23 19:11:57","post_modified_gmt":"2022-02-23 08:11:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3564","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3553,"post_author":"1","post_date":"2022-02-22 20:56:19","post_date_gmt":"2022-02-22 09:56:19","post_content":"\n

Sling TV has announced<\/a> that they are partnering with BitPay to accept crypto payments for their subscriptions.<\/p>\n\n\n\n

Sling TV is a US-based streaming service owned by Dish Network. With over 2 million current subscribers.<\/p>\n\n\n\n

The addition of crypto payment as an option means that Litecoin<\/a>,\u00a0Bitcoin<\/a>,\u00a0Ethereum<\/a>,\u00a0Bitcoin Cash<\/a>,\u00a0Wrapped Bitcoin<\/a>, Dogecoin<\/a>, and\u00a0Shiba Inu<\/a> are all viable currencies. Also accepting USD-pegged stablecoins<\/a>, including\u00a0GUSD<\/a>,\u00a0USDP<\/a>,\u00a0BUSD<\/a>,\u00a0DAI<\/a>, and\u00a0USDC<\/a>.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/DISHNews\/status\/1494702599446036481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494702599446036481%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fau.finance.yahoo.com%2Fnews%2Fsling-tv-accept-dogecoin-other-165039935.html\n<\/div><\/figure>\n\n\n\n

\"Beginning this week, Sling TV subscribers can use cryptocurrency to pay for their monthly subscription. Through the payment provider Bitpay, users can now select and pay for their favorite digital streaming service with their preferred digital currency \u2013 whether it\u2019s bitcoin, ethereum or dogecoin.<\/em>\"<\/strong><\/p><\/blockquote>\n\n\n\n

Sling TV is another large corporation to accept Dogecoin, following Elon Musks' announcement <\/a>last week for Tesla to accept Dogecoin at charging stations.<\/p>\n\n\n\n

Only Available To Existing Users, So Far<\/h2>\n\n\n\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

In order to make NFTs more accessible to the public Neon\u2019s machine doesn\u2019t require any cryptocurrency. This allows for the public to buy an NFT without having to sign up prior to doing so. <\/p>\n\n\n\n

Purchasing an NFT can be a daunting task to those not familiar with Web 3 and Blockchain. Neon hopes to \"bring digital art and collecting to the largest possible audience\". An NFT vending machine is surely one way to attract a lot of attention.<\/p>\n\n\n\n

Jordan Birnholtz, CMO and co-founder of Neon states that \u201cwhile only 2% of Americans have digital wallets, 80% have a credit card or debit card,\u201d adding that \u201cNeon started with fiat because our mission is unique, to bring digital art and collecting to the largest possible audience,\u201d<\/p>\n","post_title":"World's First NFT Vending Machine Launched In NYC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"worlds-first-nft-vending-machine-launched-in-nyc","to_ping":"","pinged":"","post_modified":"2022-02-23 19:11:57","post_modified_gmt":"2022-02-23 08:11:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3564","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3553,"post_author":"1","post_date":"2022-02-22 20:56:19","post_date_gmt":"2022-02-22 09:56:19","post_content":"\n

Sling TV has announced<\/a> that they are partnering with BitPay to accept crypto payments for their subscriptions.<\/p>\n\n\n\n

Sling TV is a US-based streaming service owned by Dish Network. With over 2 million current subscribers.<\/p>\n\n\n\n

The addition of crypto payment as an option means that Litecoin<\/a>,\u00a0Bitcoin<\/a>,\u00a0Ethereum<\/a>,\u00a0Bitcoin Cash<\/a>,\u00a0Wrapped Bitcoin<\/a>, Dogecoin<\/a>, and\u00a0Shiba Inu<\/a> are all viable currencies. Also accepting USD-pegged stablecoins<\/a>, including\u00a0GUSD<\/a>,\u00a0USDP<\/a>,\u00a0BUSD<\/a>,\u00a0DAI<\/a>, and\u00a0USDC<\/a>.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/DISHNews\/status\/1494702599446036481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494702599446036481%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fau.finance.yahoo.com%2Fnews%2Fsling-tv-accept-dogecoin-other-165039935.html\n<\/div><\/figure>\n\n\n\n

\"Beginning this week, Sling TV subscribers can use cryptocurrency to pay for their monthly subscription. Through the payment provider Bitpay, users can now select and pay for their favorite digital streaming service with their preferred digital currency \u2013 whether it\u2019s bitcoin, ethereum or dogecoin.<\/em>\"<\/strong><\/p><\/blockquote>\n\n\n\n

Sling TV is another large corporation to accept Dogecoin, following Elon Musks' announcement <\/a>last week for Tesla to accept Dogecoin at charging stations.<\/p>\n\n\n\n

Only Available To Existing Users, So Far<\/h2>\n\n\n\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Why A Vending Machine?<\/h2>\n\n\n\n

In order to make NFTs more accessible to the public Neon\u2019s machine doesn\u2019t require any cryptocurrency. This allows for the public to buy an NFT without having to sign up prior to doing so. <\/p>\n\n\n\n

Purchasing an NFT can be a daunting task to those not familiar with Web 3 and Blockchain. Neon hopes to \"bring digital art and collecting to the largest possible audience\". An NFT vending machine is surely one way to attract a lot of attention.<\/p>\n\n\n\n

Jordan Birnholtz, CMO and co-founder of Neon states that \u201cwhile only 2% of Americans have digital wallets, 80% have a credit card or debit card,\u201d adding that \u201cNeon started with fiat because our mission is unique, to bring digital art and collecting to the largest possible audience,\u201d<\/p>\n","post_title":"World's First NFT Vending Machine Launched In NYC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"worlds-first-nft-vending-machine-launched-in-nyc","to_ping":"","pinged":"","post_modified":"2022-02-23 19:11:57","post_modified_gmt":"2022-02-23 08:11:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3564","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3553,"post_author":"1","post_date":"2022-02-22 20:56:19","post_date_gmt":"2022-02-22 09:56:19","post_content":"\n

Sling TV has announced<\/a> that they are partnering with BitPay to accept crypto payments for their subscriptions.<\/p>\n\n\n\n

Sling TV is a US-based streaming service owned by Dish Network. With over 2 million current subscribers.<\/p>\n\n\n\n

The addition of crypto payment as an option means that Litecoin<\/a>,\u00a0Bitcoin<\/a>,\u00a0Ethereum<\/a>,\u00a0Bitcoin Cash<\/a>,\u00a0Wrapped Bitcoin<\/a>, Dogecoin<\/a>, and\u00a0Shiba Inu<\/a> are all viable currencies. Also accepting USD-pegged stablecoins<\/a>, including\u00a0GUSD<\/a>,\u00a0USDP<\/a>,\u00a0BUSD<\/a>,\u00a0DAI<\/a>, and\u00a0USDC<\/a>.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/DISHNews\/status\/1494702599446036481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494702599446036481%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fau.finance.yahoo.com%2Fnews%2Fsling-tv-accept-dogecoin-other-165039935.html\n<\/div><\/figure>\n\n\n\n

\"Beginning this week, Sling TV subscribers can use cryptocurrency to pay for their monthly subscription. Through the payment provider Bitpay, users can now select and pay for their favorite digital streaming service with their preferred digital currency \u2013 whether it\u2019s bitcoin, ethereum or dogecoin.<\/em>\"<\/strong><\/p><\/blockquote>\n\n\n\n

Sling TV is another large corporation to accept Dogecoin, following Elon Musks' announcement <\/a>last week for Tesla to accept Dogecoin at charging stations.<\/p>\n\n\n\n

Only Available To Existing Users, So Far<\/h2>\n\n\n\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

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\n
\"\"
Credit: Neon<\/figcaption><\/figure>\n\n\n\n

Why A Vending Machine?<\/h2>\n\n\n\n

In order to make NFTs more accessible to the public Neon\u2019s machine doesn\u2019t require any cryptocurrency. This allows for the public to buy an NFT without having to sign up prior to doing so. <\/p>\n\n\n\n

Purchasing an NFT can be a daunting task to those not familiar with Web 3 and Blockchain. Neon hopes to \"bring digital art and collecting to the largest possible audience\". An NFT vending machine is surely one way to attract a lot of attention.<\/p>\n\n\n\n

Jordan Birnholtz, CMO and co-founder of Neon states that \u201cwhile only 2% of Americans have digital wallets, 80% have a credit card or debit card,\u201d adding that \u201cNeon started with fiat because our mission is unique, to bring digital art and collecting to the largest possible audience,\u201d<\/p>\n","post_title":"World's First NFT Vending Machine Launched In NYC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"worlds-first-nft-vending-machine-launched-in-nyc","to_ping":"","pinged":"","post_modified":"2022-02-23 19:11:57","post_modified_gmt":"2022-02-23 08:11:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3564","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3553,"post_author":"1","post_date":"2022-02-22 20:56:19","post_date_gmt":"2022-02-22 09:56:19","post_content":"\n

Sling TV has announced<\/a> that they are partnering with BitPay to accept crypto payments for their subscriptions.<\/p>\n\n\n\n

Sling TV is a US-based streaming service owned by Dish Network. With over 2 million current subscribers.<\/p>\n\n\n\n

The addition of crypto payment as an option means that Litecoin<\/a>,\u00a0Bitcoin<\/a>,\u00a0Ethereum<\/a>,\u00a0Bitcoin Cash<\/a>,\u00a0Wrapped Bitcoin<\/a>, Dogecoin<\/a>, and\u00a0Shiba Inu<\/a> are all viable currencies. Also accepting USD-pegged stablecoins<\/a>, including\u00a0GUSD<\/a>,\u00a0USDP<\/a>,\u00a0BUSD<\/a>,\u00a0DAI<\/a>, and\u00a0USDC<\/a>.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/DISHNews\/status\/1494702599446036481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494702599446036481%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fau.finance.yahoo.com%2Fnews%2Fsling-tv-accept-dogecoin-other-165039935.html\n<\/div><\/figure>\n\n\n\n

\"Beginning this week, Sling TV subscribers can use cryptocurrency to pay for their monthly subscription. Through the payment provider Bitpay, users can now select and pay for their favorite digital streaming service with their preferred digital currency \u2013 whether it\u2019s bitcoin, ethereum or dogecoin.<\/em>\"<\/strong><\/p><\/blockquote>\n\n\n\n

Sling TV is another large corporation to accept Dogecoin, following Elon Musks' announcement <\/a>last week for Tesla to accept Dogecoin at charging stations.<\/p>\n\n\n\n

Only Available To Existing Users, So Far<\/h2>\n\n\n\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

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\n

The machine accepts both debit and credit cards, before dispensing a box with a QR code inside. This QR code is technically your NFT, all you have to do is scan it through Neon's App. Once scanned the NFT will show up in your digital wallet, although the wallet is not required to purchase.<\/p>\n\n\n\n

\"\"
Credit: Neon<\/figcaption><\/figure>\n\n\n\n

Why A Vending Machine?<\/h2>\n\n\n\n

In order to make NFTs more accessible to the public Neon\u2019s machine doesn\u2019t require any cryptocurrency. This allows for the public to buy an NFT without having to sign up prior to doing so. <\/p>\n\n\n\n

Purchasing an NFT can be a daunting task to those not familiar with Web 3 and Blockchain. Neon hopes to \"bring digital art and collecting to the largest possible audience\". An NFT vending machine is surely one way to attract a lot of attention.<\/p>\n\n\n\n

Jordan Birnholtz, CMO and co-founder of Neon states that \u201cwhile only 2% of Americans have digital wallets, 80% have a credit card or debit card,\u201d adding that \u201cNeon started with fiat because our mission is unique, to bring digital art and collecting to the largest possible audience,\u201d<\/p>\n","post_title":"World's First NFT Vending Machine Launched In NYC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"worlds-first-nft-vending-machine-launched-in-nyc","to_ping":"","pinged":"","post_modified":"2022-02-23 19:11:57","post_modified_gmt":"2022-02-23 08:11:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3564","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3553,"post_author":"1","post_date":"2022-02-22 20:56:19","post_date_gmt":"2022-02-22 09:56:19","post_content":"\n

Sling TV has announced<\/a> that they are partnering with BitPay to accept crypto payments for their subscriptions.<\/p>\n\n\n\n

Sling TV is a US-based streaming service owned by Dish Network. With over 2 million current subscribers.<\/p>\n\n\n\n

The addition of crypto payment as an option means that Litecoin<\/a>,\u00a0Bitcoin<\/a>,\u00a0Ethereum<\/a>,\u00a0Bitcoin Cash<\/a>,\u00a0Wrapped Bitcoin<\/a>, Dogecoin<\/a>, and\u00a0Shiba Inu<\/a> are all viable currencies. Also accepting USD-pegged stablecoins<\/a>, including\u00a0GUSD<\/a>,\u00a0USDP<\/a>,\u00a0BUSD<\/a>,\u00a0DAI<\/a>, and\u00a0USDC<\/a>.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/DISHNews\/status\/1494702599446036481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494702599446036481%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fau.finance.yahoo.com%2Fnews%2Fsling-tv-accept-dogecoin-other-165039935.html\n<\/div><\/figure>\n\n\n\n

\"Beginning this week, Sling TV subscribers can use cryptocurrency to pay for their monthly subscription. Through the payment provider Bitpay, users can now select and pay for their favorite digital streaming service with their preferred digital currency \u2013 whether it\u2019s bitcoin, ethereum or dogecoin.<\/em>\"<\/strong><\/p><\/blockquote>\n\n\n\n

Sling TV is another large corporation to accept Dogecoin, following Elon Musks' announcement <\/a>last week for Tesla to accept Dogecoin at charging stations.<\/p>\n\n\n\n

Only Available To Existing Users, So Far<\/h2>\n\n\n\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

1 35 36 37 38 39 41

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\n

NFT Platform, Neon<\/a>, has launched the first NFT vending machine in the world in New York City's Financial District.<\/p>\n\n\n\n

The machine accepts both debit and credit cards, before dispensing a box with a QR code inside. This QR code is technically your NFT, all you have to do is scan it through Neon's App. Once scanned the NFT will show up in your digital wallet, although the wallet is not required to purchase.<\/p>\n\n\n\n

\"\"
Credit: Neon<\/figcaption><\/figure>\n\n\n\n

Why A Vending Machine?<\/h2>\n\n\n\n

In order to make NFTs more accessible to the public Neon\u2019s machine doesn\u2019t require any cryptocurrency. This allows for the public to buy an NFT without having to sign up prior to doing so. <\/p>\n\n\n\n

Purchasing an NFT can be a daunting task to those not familiar with Web 3 and Blockchain. Neon hopes to \"bring digital art and collecting to the largest possible audience\". An NFT vending machine is surely one way to attract a lot of attention.<\/p>\n\n\n\n

Jordan Birnholtz, CMO and co-founder of Neon states that \u201cwhile only 2% of Americans have digital wallets, 80% have a credit card or debit card,\u201d adding that \u201cNeon started with fiat because our mission is unique, to bring digital art and collecting to the largest possible audience,\u201d<\/p>\n","post_title":"World's First NFT Vending Machine Launched In NYC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"worlds-first-nft-vending-machine-launched-in-nyc","to_ping":"","pinged":"","post_modified":"2022-02-23 19:11:57","post_modified_gmt":"2022-02-23 08:11:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3564","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3553,"post_author":"1","post_date":"2022-02-22 20:56:19","post_date_gmt":"2022-02-22 09:56:19","post_content":"\n

Sling TV has announced<\/a> that they are partnering with BitPay to accept crypto payments for their subscriptions.<\/p>\n\n\n\n

Sling TV is a US-based streaming service owned by Dish Network. With over 2 million current subscribers.<\/p>\n\n\n\n

The addition of crypto payment as an option means that Litecoin<\/a>,\u00a0Bitcoin<\/a>,\u00a0Ethereum<\/a>,\u00a0Bitcoin Cash<\/a>,\u00a0Wrapped Bitcoin<\/a>, Dogecoin<\/a>, and\u00a0Shiba Inu<\/a> are all viable currencies. Also accepting USD-pegged stablecoins<\/a>, including\u00a0GUSD<\/a>,\u00a0USDP<\/a>,\u00a0BUSD<\/a>,\u00a0DAI<\/a>, and\u00a0USDC<\/a>.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/DISHNews\/status\/1494702599446036481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494702599446036481%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fau.finance.yahoo.com%2Fnews%2Fsling-tv-accept-dogecoin-other-165039935.html\n<\/div><\/figure>\n\n\n\n

\"Beginning this week, Sling TV subscribers can use cryptocurrency to pay for their monthly subscription. Through the payment provider Bitpay, users can now select and pay for their favorite digital streaming service with their preferred digital currency \u2013 whether it\u2019s bitcoin, ethereum or dogecoin.<\/em>\"<\/strong><\/p><\/blockquote>\n\n\n\n

Sling TV is another large corporation to accept Dogecoin, following Elon Musks' announcement <\/a>last week for Tesla to accept Dogecoin at charging stations.<\/p>\n\n\n\n

Only Available To Existing Users, So Far<\/h2>\n\n\n\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

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\n

A vending machine in New York has launched and it sells nothing?<\/p>\n\n\n\n

NFT Platform, Neon<\/a>, has launched the first NFT vending machine in the world in New York City's Financial District.<\/p>\n\n\n\n

The machine accepts both debit and credit cards, before dispensing a box with a QR code inside. This QR code is technically your NFT, all you have to do is scan it through Neon's App. Once scanned the NFT will show up in your digital wallet, although the wallet is not required to purchase.<\/p>\n\n\n\n

\"\"
Credit: Neon<\/figcaption><\/figure>\n\n\n\n

Why A Vending Machine?<\/h2>\n\n\n\n

In order to make NFTs more accessible to the public Neon\u2019s machine doesn\u2019t require any cryptocurrency. This allows for the public to buy an NFT without having to sign up prior to doing so. <\/p>\n\n\n\n

Purchasing an NFT can be a daunting task to those not familiar with Web 3 and Blockchain. Neon hopes to \"bring digital art and collecting to the largest possible audience\". An NFT vending machine is surely one way to attract a lot of attention.<\/p>\n\n\n\n

Jordan Birnholtz, CMO and co-founder of Neon states that \u201cwhile only 2% of Americans have digital wallets, 80% have a credit card or debit card,\u201d adding that \u201cNeon started with fiat because our mission is unique, to bring digital art and collecting to the largest possible audience,\u201d<\/p>\n","post_title":"World's First NFT Vending Machine Launched In NYC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"worlds-first-nft-vending-machine-launched-in-nyc","to_ping":"","pinged":"","post_modified":"2022-02-23 19:11:57","post_modified_gmt":"2022-02-23 08:11:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3564","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3553,"post_author":"1","post_date":"2022-02-22 20:56:19","post_date_gmt":"2022-02-22 09:56:19","post_content":"\n

Sling TV has announced<\/a> that they are partnering with BitPay to accept crypto payments for their subscriptions.<\/p>\n\n\n\n

Sling TV is a US-based streaming service owned by Dish Network. With over 2 million current subscribers.<\/p>\n\n\n\n

The addition of crypto payment as an option means that Litecoin<\/a>,\u00a0Bitcoin<\/a>,\u00a0Ethereum<\/a>,\u00a0Bitcoin Cash<\/a>,\u00a0Wrapped Bitcoin<\/a>, Dogecoin<\/a>, and\u00a0Shiba Inu<\/a> are all viable currencies. Also accepting USD-pegged stablecoins<\/a>, including\u00a0GUSD<\/a>,\u00a0USDP<\/a>,\u00a0BUSD<\/a>,\u00a0DAI<\/a>, and\u00a0USDC<\/a>.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/DISHNews\/status\/1494702599446036481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494702599446036481%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fau.finance.yahoo.com%2Fnews%2Fsling-tv-accept-dogecoin-other-165039935.html\n<\/div><\/figure>\n\n\n\n

\"Beginning this week, Sling TV subscribers can use cryptocurrency to pay for their monthly subscription. Through the payment provider Bitpay, users can now select and pay for their favorite digital streaming service with their preferred digital currency \u2013 whether it\u2019s bitcoin, ethereum or dogecoin.<\/em>\"<\/strong><\/p><\/blockquote>\n\n\n\n

Sling TV is another large corporation to accept Dogecoin, following Elon Musks' announcement <\/a>last week for Tesla to accept Dogecoin at charging stations.<\/p>\n\n\n\n

Only Available To Existing Users, So Far<\/h2>\n\n\n\n

Sling TV customers with an existing monthly subscription can pay with cryptocurrencies. New users will have to pay with a traditional payment method. The next month the crypto payment option will be made available to the monthly subscriber. <\/p>\n\n\n\n

\u201cSling customers can only make one monthly, manual payment with Bitpay, but will have the choice to prepay for one to six months at a time,\u201d Sling\u2019s summary of the crypto payment system concludes.<\/p>\n\n\n\n

The decision comes after Sling TV's desire to support cryptocurrency payments to give users more flexibility with ease of use.<\/p>\n","post_title":"SlingTV Partners With BitPay To Accept Crypto For Subscriptions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"slingtv-partners-with-bitpay-to-accept-crypto-for-subscriptions","to_ping":"","pinged":"","post_modified":"2022-04-24 23:26:28","post_modified_gmt":"2022-04-24 13:26:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3553","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3550,"post_author":"1","post_date":"2022-02-21 21:41:57","post_date_gmt":"2022-02-21 10:41:57","post_content":"\n

Local media in India reported that 11 have been arrested, in links to a 5-year scam that cheated investors out of almost US$5.4M.<\/p>\n\n\n\n

Four<\/a> of the accused were apprehended on Saturday after being on the run since March last year. Seven<\/a> others were caught on Sunday.\u00a0<\/p>\n\n\n\n

Nishid Wasnik, the operations leader, manipulated his firm\u2019s website to display an upwards trajectory in investments to lure victims. He then siphoned the funds to his accounts from 2017 to 2021.\u00a0Wasnik and two others from the arrest are also accused of kidnapping and shooting a person.\u00a0<\/p>\n\n\n\n

Crypto scams in India are on the rise, the government has been trying to regulate cryptocurrencies because they believe it is a very speculative and dangerous investment.<\/p>\n\n\n\n

No regulation has been put into place yet besides a 30% tax increase<\/a> to lure investors away. Although the citizens of India, are against<\/a> these calls for regulation.<\/p>\n\n\n\n

Would regulations make the crypto ecosystem a safer place for the public to invest in?<\/p>\n","post_title":"11 Arrested In India Over A $5.4M Dollar Scam","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"11-arrested-in-india-over-a-5-4m-dollar-scam","to_ping":"","pinged":"","post_modified":"2022-02-21 21:42:00","post_modified_gmt":"2022-02-21 10:42:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3550","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3531,"post_author":"1","post_date":"2022-02-21 17:45:06","post_date_gmt":"2022-02-21 06:45:06","post_content":"\n

Jared Polis, the Governor of Colorado, stated in an ETHDenver<\/a> talk that Colorado will accept state taxes and fees in cryptocurrency by the summer of 2022. <\/p>\n\n\n\n

Polis stated the reason for utilizing crypto payments was for faster payment speed and user convenience. The state is still looking for companies to handle the actual transactions.<\/p>\n\n\n\n

\u201cWe won\u2019t be holding those assets in that form, but we will have a layer that accepts payment in those forms and then conversion into the units that we use, which is dollars, for budgeting and payments...but as a matter of convenience for the public, we will be accepting first for taxes and then for many different fees and services by this summer.\u201d <\/strong><\/em><\/p>Jared Polis, ETHDenver<\/cite><\/blockquote>\n\n\n\n

As a Colorado congressman in 2014, Polis was one of the first U.S. politicians<\/a> to accept campaign donations in bitcoin.<\/p>\n\n\n\n

Although Colorado isn't the first state to accept taxes through crypto, pilot programs in states such as Ohio were unsuccessful. Polis states that Ethereum and blockchain are a \u201ccritical part of Colorado\u2019s overall innovation ecosystem,\u201d being a crypto-forward state.<\/p>\n","post_title":"Colorado To Accept Crypto For Taxes By Summer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"colorado-to-accept-crypto-for-taxes-by-summer","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:25","post_modified_gmt":"2023-04-30 11:39:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3531","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3527,"post_author":"1","post_date":"2022-02-21 15:15:35","post_date_gmt":"2022-02-21 04:15:35","post_content":"\n

What Is Cryptocurrency Mining?<\/h2>\n\n\n\n

Cryptocurrency mining is how new transactions are validated on a blockchain's public ledger<\/a>. Validating transactions results in a reward of the cryptocurrency on the blockchain - adding new coins into circulation.<\/p>\n\n\n\n

How Does Cryptocurrency Mining Work?<\/h2>\n\n\n\n

A miner is a node<\/a> in the given blockchain network that collects transactions and organizes them into blocks. Whenever a new transaction occurs miners receive and verify the data of the transaction before sorting it into a memory pool<\/a>, mempool for short.<\/p>\n\n\n\n

Once in the memory pool, transactions are put into a candidate block<\/a>. If the miner is successful with the following steps the candidate block is added to the blockchain, giving this miner a reward for their efforts.<\/p>\n\n\n\n

Step 1 - Hashing Transactions<\/h3>\n\n\n\n

A miner will take transactions from their memory pool, and put them through a hash function. A hash function turns any piece of data, no matter how big into a fixed size, called a hash. In this context, all of the data of the transaction is turned into a 'transaction hash'.<\/p>\n\n\n\n

Along with this, the miner will create a separate block with a transaction called the coinbase<\/em>. This separate block will give them their mining reward if their candidate block is successful, although it can contain any arbitrary data.((https:\/\/en.bitcoin.it\/wiki\/Coinbase))<\/p>\n\n\n\n

Step 2 - Create A Merkle Tree<\/h3>\n\n\n\n

After transactions are hashed they're organized into a Merkle Tree or Hash Tree. <\/p>\n\n\n\n

This process links two transactions together, hashes them, and repeats the process over and over until all data is encoded under one singular hash, called the Merkle Root or Root Hash.<\/p>\n\n\n\n

\"Merkle
Credit: bitcoininsider.com<\/figcaption><\/figure>\n\n\n\n

Step 3 - Find A Valid Block Hash<\/h3>\n\n\n\n

To create a valid block hash, a miner has to combine the hash of the previous block, with their root hash, and an arbitrary number called Nonce<\/a> (number used only once).<\/p>\n\n\n\n

The nonce number is changed until a valid hash is found, as the hash of the previous block and the root hash cannot be changed.<\/p>\n\n\n\n

In order to be considered valid, the block hash must be less than a certain target value determined in the protocol<\/a>. In Bitcoin mining, the block hash must start with a certain number of zeros. This is what we call mining difficulty.<\/p>\n\n\n\n

What Is Mining Difficulty?<\/h4>\n\n\n\n

The cryptocurrency mining difficulty is adjusted by the protocol regularly. This ensures that the rate at which new blocks are mined remains constant. <\/p>\n\n\n\n

This is what makes the issuance of new coins steady and predictable. The difficulty adjusts in proportion to the amount of computational power or mining hash rate<\/a> on to the network.<\/p>\n\n\n\n

This means as more miners join the network the hashing difficulty gets harder. Likewise, if miners leave the hashing difficulty is easier. Allowing for a steady flow of blocks being mined.<\/p>\n\n\n\n

Step 4 - Broadcast The Block<\/h3>\n\n\n\n

Once a miner finds a valid block hash, the miner who found it will broadcast it to the entire network of other miners\/nodes. The nodes will confirm that the block and its hash are valid. If they find it is valid, the block is added to their copy of the blockchain. <\/p>\n\n\n\n

The previous candidate block has now become a confirmed block. The miners now move on to the next block. The miners whose candidate blocks weren't successful discard it and repeat the process in hopes of having the next confirmed block.<\/p>\n","post_title":"Cryptocurrency Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocurrency-mining","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-a-cryptographic-nonce-a-number-only-used-once\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mining-hashrate\/\nhttps:\/\/www.thedistributed.co\/what-is-a-mempool-cryptocurrency-memory-pool\/\nhttps:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-07-25 00:47:38","post_modified_gmt":"2022-07-24 14:47:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3527","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3521,"post_author":"1","post_date":"2022-02-20 12:27:30","post_date_gmt":"2022-02-20 01:27:30","post_content":"\n

Tesla will begin accepting Dogecoin<\/a> as a payment method at Tesla Supercharging Stations as per a tweet<\/a> from Elon Musk, CEO of Tesla.<\/p>\n\n\n\n

Rayan Zohoury, the founder of Tesla Console<\/a>, an app store for Tesla's tweeted<\/a> how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.<\/p>\n\n\n\n

This comes after the recent news that Tesla would begin accepting Dogecoin as payment<\/a> for their merchandise. \u201cTesla will make some merch buyable with Doge and see how it goes,\" Musk said in a tweet \u2013 a good decision looking back now.<\/p>\n\n\n\n

Why Dogecoin?<\/h2>\n\n\n\n

Elon Musk is an avid supporter of Dogecoin, although it was started as a \"joke\"<\/a>. It has gained a lot of traction over the years.<\/p>\n\n\n\n

You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here's a statement Elon made after an interview with Time Magazine:<\/p>\n\n\n\n

The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.<\/em><\/strong><\/p><\/blockquote>\n","post_title":"Dogecoin To Be Accepted As Payment At Tesla Superchargers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"dogecoin-to-be-accepted-as-payment-at-tesla-superchargers","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:31","post_modified_gmt":"2023-04-11 02:54:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3521","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3518,"post_author":"1","post_date":"2022-02-19 23:27:34","post_date_gmt":"2022-02-19 12:27:34","post_content":"\n

ConocoPhillips, the world's largest independent oil and natural gas production company will start selling their excess gas to Bitcoin miners.<\/p>\n\n\n\n

A CNBC report<\/a> states the company has started a pilot project in Bakken, North Dakota where oil reserves are rich. <\/p>\n\n\n\n

Instead of burning off their excess gas, they've sold it to a Bitcoin processor for use. Although the company has not disclosed the bitcoin miner behind the business deal or terms of the project yet. The decision supports the companies objective of eliminating routine flaring by 2030.<\/p>\n\n\n\n

Oil and gas production companies have often been forced to burn excess gas when problems occur to the transmission pipelines, in turn revenue drops along with the fact this poses a danger to wildlife.<\/p>\n\n\n\n

ConocoPhillips is predicted to save a lot of revenue from such limiting where things can go wrong, while increasing revenue. <\/p>\n\n\n\n

Most importantly, rescue its carbon footprint in partnership with the Bitcoin miner. Bitcoin mining has been seen as a way many oil and gas companies are able to escape from the negatives of carbon emissions.<\/p>\n","post_title":"Oil And Gas Giant ConocoPhillips To Power Bitcoin Mining","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"oil-and-gas-giant-conocophillips-to-power-bitcoin-mining","to_ping":"","pinged":"","post_modified":"2023-04-11 12:54:42","post_modified_gmt":"2023-04-11 02:54:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3480,"post_author":"1","post_date":"2022-02-16 21:20:15","post_date_gmt":"2022-02-16 10:20:15","post_content":"\n

McDonald's is the latest company to join the metaverse.<\/p>\n\n\n\n

Josh Gerben, a trademark lawyer, has announced the news that McDonald's had filed 10 trademarks<\/a>. The applications include \u201cvirtual food and beverage products; downloadable multimedia files containing artwork, text, audio and video files and\u00a0non-fungible tokens<\/a> (NFTs).\u201d\u00a0<\/p>\n\n\n\n

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