Category: Bitcoin

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Elon Musk Hints Tesla Will Accept BTC Again Soon

Elon Musk, the South African billionaire and businessman behind big companies like SpaceX and Tesla, has hinted that the latter company may once again accept bitcoin for payments in the future, given his confidence that the entire industry is moving towards renewable energy.

Elon Musk illuminates the use of BTC

Musk caused a lot of controversy in the first half of 2021 when he announced that his company would accept bitcoin for electric vehicles. The move caused a lot of speculation and joy among crypto traders, as Tesla was one of the largest companies in the world and Musk was one of the richest people in the world. The fact that he was a fan of cryptocurrencies was affecting many digital traders, and they were sure that Bitcoin would probably reach new heights.

At first, that is exactly what happened. Bitcoin surged to $57,000, which was its new all-time high at the time. Things were really looking up when suddenly, just a few weeks later, Musk announced that he was rescinding the decision because he was concerned about the prospects of bitcoin mining and what the environmental risks were.

This drove a lot of people crazy and reportedly triggered a new series of drops in the price of bitcoin. Explaining his reasoning in a recent interview with ARK Invest’s Cathie Wood, Musk stated:

Tesla's mission is to accelerate renewable energy. Tesla is interested in renewable energy, it works on solar energy and we interact with wind energy for our batteries. We knew that you can't generate that much power surge using renewable energy that quickly, but you can if you mine coal. The whole thing seemed incomplete to me.

He recalls that the announcement about using bitcoin to buy Tesla vehicles came after Musk made a $1.5 billion purchase of the world’s largest and most popular digital currency.

Musk is now confident that the bitcoin world is increasingly switching to renewable energy. In a follow-up to the previous interview, he commented that he believes the amount of clean energy used to mine BTC today is over 50%, and as long as that number continues to rise, he says that Tesla will easily accept BTC again without a problem.

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Plan ₿ Bitcoin Business Summer School opens in July

Plan₿ Summer School is an opportunity for those interested in bitcoin and business to learn the ins and outs of the ecosystem and develop real-world solutions.

The Plan₿ summer school begins July 3-16 and seeks to teach students the fundamentals of Bitcoin and business.

Classes taught by industry experts will be held in Lugano, Switzerland.

Students who attend will participate in a pitching competition with the winners taking home up to $5,000 for a winning pitch.

Plan₿ summer school, a cohort course that teaches students the challenges of business in relation to the regulatory and technological implications facing the Bitcoin ecosystem, is in session from July 3 to 16, according to an announcement.

The class will take place in Lugano, Switzerland. Students will learn about the Bitcoin protocol, the Lightning Network as a Layer 2 solution, stablecoins, the consensus mechanism used by cryptocurrencies, and the fundamentals of the space.

Experts will demonstrate the ins and outs of smart contracts and their operation on Bitcoin while discussing real-world applications and use cases. Students will also gain knowledge related to anti-money laundering (AML) compliance, on-chain analytics, and gain a deeper understanding of cybersecurity, among other subjects.

Course teachers will introduce students to real-world problems that need a solution. At the end of the two-week course, students will participate at a group level to present an idea for a problem presented by the teachers. A jury of space experts will preside over the results of the field competition and prizes will be awarded to the top three teams.

First place winners will receive $5,000, while second place will win $2,500 and third place will take home $1,500, with a total of $9,000 in prizes up for grabs.

The extensive list of speakers and speakers features many experts in the field. Adam Back, CEO of Blockstream, David Suleima, Assistant Professor of Finance at Franklin University of Switzerland, Zulfi Moledina, Training Specialist at Chainalysis, and Paolo Ardoino, CTO at Tether and Bitfinex, have signed on to provide high-level discussions on their respective specializations .

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Crypto Exchange Coinbase Reveals New DApp Wallet and Browser for Ethereum (ETH) Network

US-based cryptocurrency trading platform Coinbase is launching new ways for users to access decentralized applications (DApps) in the Ethereum (ETH) ecosystem.

The cryptocurrency exchange says it is launching a new DApp wallet and browser that will allow users to purchase digital collectibles, trade crypto assets on decentralized exchanges, and participate in decentralized finance (DeFi).

The new Ethereum-based wallet and DApp browser will be directly accessed from the Coinbase app and will initially be available to a limited number of US users. The DApp wallet and browser will also initially be available on the Android mobile operating system.

“We will launch the ability for a small set of Coinbase app users to access Ethereum-based DApps directly from the Coinbase app. This includes buying NFTs [non-fungible tokens] on marketplaces like Coinbase NFT and OpenSea, trading on decentralized exchanges like Uniswap and Sushiswap, and borrowing, lending or trading on DeFi platforms like Compound and Curve.”

According to Coinbase, interest in DApps and the third generation of the internet, or Web 3.0, skyrocketed with the total value locked in Ethereum-based DeFi protocols exceeding $110 billion, while token sales did not. Fungibles (NFTs) topped the US$30 billion. in the last 12 months.

One of the features of the new Coinbase DApps is an improved recovery process in case of loss of access to a device.

“With today’s release, users can explore DApps without having to manage a recovery phrase.

This innovative DApp wallet experience is powered by Multi-Party Computation (MPC) technology that allows you to have a dedicated on-chain wallet that Coinbase helps keep secure. This is due to the way this wallet is set up, which allows the ‘key’ to be split between you and Coinbase.

Ultimately, this means that if you lose access to your device, your DApp wallet key will still be safe and Coinbase can help you with recovery through our live support.”

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One-Click Bitcoin Payments Are Now Available In 30 Countries

Primer, an automated payments infrastructure platform servicing over 30 countries, partnered with OpenNode to enable one-click payments with bitcoin.

  • Primer, a global payment infrastructure automation platform, now allows one-click checkout functions for bitcoin.
  • Primer partnered with a leading bitcoin payments infrastructure company, OpenNode, to bring this optionality worldwide.
  • Primer currently operates in 30 countries with a wide-range of supported payment features and OpenNode services 126 countries.

Primer, a global payment infrastructure provider, now allows merchants worldwide to accept bitcoin as payment through a 1-click checkout function through a partnership with OpenNode according to a press release.

OpenNode is a bitcoin payments infrastructure provider and with Primer’s leading commerce automation platform, users across the world will be able to access seamless payments using bitcoin.

“OpenNode and Primer share the mission of reinventing payments and providing unmatched value to merchants and businesses everywhere,” said Josh Held, Head of Strategy at OpenNode.

Held continued to say “OpenNode has believed in the promise of Bitcoin and Lightning-powered payments for a long time, and demand is now growing exponentially.”

Gabriel Le Roux, co-founder at Primer, explained the enthusiasm behind Pimer’s partnership with OpenNode noting how merchants will be able to take advantage of this functionality, not through the tedious process of coding with barriers of entry, but through a simple organic process that only requires a few clicks to set up.

“Primer and OpenNode are passionate about making Bitcoin an easily accessible payment option for merchants, through the best-in-class checkout experience available on the market,” Le Roux said.

Primer was the world’s first automator of payment infrastructure and commerce with a goal of removing barriers customers face with using specific forms of payment. With a collection of one-click integrations in over 30 supported countries, Primer was a natural partner for OpenNode as one of the leading payment gateways for bitcoin and the Lightning Network.

OpenNode operates in 126 countries, removes the technical complexities of the Lightning Network for users across the globe, and is compatible with every bitcoin wallet. 

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Brazilian Stock Exchange To Begin Trading Bitcoin Futures This Year

B3, the Brazilian stock exchange, will begin trading bitcoin futures contracts within the next three to six months and hopes to offer crypto-based services.

  • B3, the Brazilian stock exchange, will begin trading BTC futures in three to six months.
  • This past January, the CFO of B3 announced plans to trade futures based on bitcoin and other cryptocurrencies.
  • The CFO also mentioned becoming a service provider of custodial solutions, as well as a settlement provider for the growing ecosystem during January.

The Brazilian stock exchange known as B3 (Brasil, Bolsa, Balcão) will begin trading futures contracts for bitcoin within the next three to six months, according to a report from Valor.

“We plan to launch bitcoin futures in the next three to six months,” CFO André Milanez reportedly said on a conference call.

No details were offered on whether or not B3 had partnerships lined up to offer the products or if another company would be providing infrastructure. This past January, Valor reported that Jochen Mielke de Lima, director of information technology at B3 stated the exchange’s intentions of releasing BTC futures.

During the January interview, Mielke noted that B3 had been looking into bitcoin and other cryptocurrencies since 2016, but that the issue of valuing the assets against either the dollar or the Brazilian real played a confusing role in B3’s determination.

“We are identifying points of friction that we can help solve to face it, such as helping our customers provide the best access to their end customers,” he said.

B3 noted that similarities between the equities market including: trade, settlement and custody, are all issues that the exchange believes it can offer services for.

“We have around 30 national crypto brokers, apart from the international ones that operate here. We could offer a service to facilitate and standardize their operations. I believe you have something to explore in providing custody services and the settlement process,” Mielke told Valor in the January interview.