Nvidia to Limit Mining Efficiency of GPUs 0 12

Ever since the cryptocurrency industry was launched, the industry that benefitted from crypto the most is GPU. When it comes to manufacturing high-end and best-performing graphics cards, there is no other company that can match Nvidia.

For a very long time, Nvidia has been the flag-bearer of the graphics card industry as it has launched some of the best graphics cards. For almost 2 decades, the only company that has managed to give it a hard time is Radeon. There was a time when Radeon had dethroned Nvidia for a short amount of time before Nvidia took back its spot.

Even now when Radeon is trying its best to launch graphics cards that not only target the gaming community but also the cryptocurrency mining community, Nvidia is still reigning over the industry.

The majority of the cryptocurrency mining communities are after some of the latest graphics cars that have been launched by Nvidia. The main reason behind this is because these cards offer a decent amount of bit rate that is responsible for increasing the hash rate for crypto-mining.

Moreover, Nvidia had also launched graphic cards that were without outputs and were dedicated to cryptocurrency mining.

While the majority of the cryptocurrency community around the world is waiting for Nvidia to launch the highest performance cards, Nvidia has dropped a bomb on the entire community with the latest announcement.

As per the latest reports, Nvidia has announced that it will be launching graphics cards that will have limited efficiency. The efficiency will reportedly be limited for mining Ethereum (ETH) as well as other cryptocurrencies.

The company has confirmed that all of the latest editions of the GPUs launched by Nvidia will have this feature integrated into them.

The announcement was made by Nvidia through a blog post posted on February 19, 2021. In the announcement, Nvidia revealed that the GeForce RTX 3060 card would be the first GPU to have the limiting featured integrated into it.

It has been confirmed that the GeForce RTX 3060 card is set to be launched on Thursday, February 25, 2021.

The firm has revealed that the new graphics cards will be designed in such a way that they will automatically detect certain attributes that are part of the algorithms responsible for mining Ethereum (ETH).

Once they detect that the algorithm belongs to Ethereum (ETH), they will optimize the hash rate. This would eventually limit the mining capacity for the cryptocurrencies down by 50%.

It has been confirmed the software responsible for the limitation of the hash rate will not be hindering the entire cryptocurrency mining activities. It has been confirmed that the limiter from the software will only activate once it detects the particular algorithms. For now, the algorithms the software has been designed to detect are Ethash-like algorithms and Hashimoto.

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Central Banks Will Not Allow Bitcoin to Go Mainstream, Says Harvard Professor 0 4

Since the beginning of the year 2020, Bitcoin (BTC) has been flying high with respect to its price and market capitalization. There have been many mainstream institutions such as PayPal, MicroStrategy, and MassMutual that have played a huge role in deciding the fate of Bitcoin (BTC).

Although Bitcoin (BTC) had mustered a lot of user-base from the private sector, all it required was input from the mainstream sector. This is when PayPal announced that it was going to integrate Bitcoin (BTC) into its platform.

This worked like a charm for Bitcoin (BTC), and the largest cryptocurrency in the entire world got even bigger. Since then, Bitcoin (BTC) has been constantly gaining mainstream adoption and several institutions from around the world have adopted it.

However, similar to the president of the ECB, there are still many who still do not support the idea of adopting cryptocurrencies and Bitcoin (BTC) altogether.

Bitcoin (BTC) has been facing a lot of resistance and hard times from traditional financial institutions. It is the banks that are currently opposing the idea of Bitcoin (BTC) being dealt with as an asset for savings and investments.

The above speculation has also been confirmed by one of the professors from one of the world-renowned universities “Harvard”. Kenneth Rogoff, who is currently a Professor of Economics at Harvard talked about how the central banks currently perceive Bitcoin (BTC).

Rogoff stated that if people think that Bitcoin (BTC) has started gaining mainstream popularity, then they are mistaken. Despite all the success and attention, Bitcoin (BTC) is still far from gaining real mainstream adoption.

However, Bitcoin (BTC) currently has a very harsh and difficult journey ahead as the central banks from around the world are going to give a very hard time.

He stated that the central banks will not let Bitcoin (BTC) gain mainstream success and adoption. The professor stated that other cryptocurrencies are likely to face the same kind of treatment from the central banks.

He stated that for the time being, the majority of the cryptocurrency industry is unregulated. Many cryptocurrency firms in the industry do not adhere to the regulations that include AML and KYC policies.

For now, it is not possible for cryptocurrencies to be given mainstream status in the economy. The first thing that the governments would do is regulate cryptocurrencies and ensure that the policies are being adhered to.

Once the cryptocurrency regulations are streamlined and adherence is above satisfactory levels, then the cryptocurrencies stand a chance of being given mainstream status.

The words coming from Rogoff hold very high significance as he was one of the former chiefs at the IMF.

Bittrex Exchange Allowed Bitcoin to be Stolen, Claimed by Spanish Customer 0 6

As per the latest reports, the police authorities of the city of Tenerife have been given permission to investigate a case regarding Bittrex. As per sources, permission to look into the matter has been given by the Spanish court. The investigation has been launched by the Spanish court in response to a complaint that was launched by a Spanish Bittrex customer.

In the complaint, the customer has alleged to Bittrex that it was due to the exchange that he ended up losing his Bitcoin (BTC) to a theft. The plaintiff held the exchange responsible for the theft that led him to lose Bitcoin (BTC) that was worth $62,000.

As per sources, the cybercrime unit of the Tenerife police authority is currently investigating the matter. The cybercrime unit has stated that it will soon be sharing its preliminary findings around the matter. Then the police will be able to determine whether the exchange is to be held responsible for any involvement in the matter or not.

However, the plaintiff is continuing to blame the exchange for letting his Bitcoin (BTC) be stolen and taken away by the cybercriminals. He has claimed that the hacker was deliberately granted access to his wallet account on the exchange. As a result, the anonymous hacker was able to make away with around 1.3 Bitcoin (BTC) in the process.

One of the local reporting networks has revealed that the plaintiff himself is a resident of Tenerife city. The person claimed that it was May of 2020 when he had opened up his wallet account on the exchange for Bitcoin (BTC).

The plaintiff claimed that after creating the wallet account, he added 1.3 BTC to the same wallet account. Soon after making the deposit, he realized that his wallet with 1.3 BTC had been emptied and there was no sign of it.

Soon after learning about the theft, the first thing he did was get in touch with Bittrex so he got in touch with their customer support. Although he expected the team to support him, he got told by the customer support team that his account had been victimized by cybercrime.

The claimant also added in the report that he had hired a personal security expert in order to investigate the case. He wanted to get to the bottom of the theft and wanted to find the cybercriminals himself as he received no support from Bittrex.

The security expert hired by the claimant also shared his findings with the Spanish court. According to the report, Bittrex on four different occasions allowed the BTC wallet account to be accessed before the theft was attempted. The investigating expert also confirmed that the breach was observed from four different IP addresses.

All of the IP addresses used to breach the wallet account included Granada, United States, France, and Madrid.

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