#CryptoCorner: Libra (Nasdaq: $FB) May Consider Fiat-Based Stablecoins, Bitmain Announces World’s Largest #Bitcoin Mine in Texas with DMG #Blockchain (TSXV: $DMGI.V)
#CryptoCorner: Libra (Nasdaq: $FB) May Consider Fiat-Based
Stablecoins, Bitmain Announces World’s Largest #Bitcoin Mine in Texas with DMG #Blockchain (TSXV: $DMGI.V)
Point Roberts, WA, Delta BC October 21,
2019 - Investorideas.com, a leader in
crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on
what’s driving the cryptocurrency market .
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Stocks discussed: (NasdaqGS:FB) (TSXV:DMGI) (NYSE:AA)
A report from Reuters indicates that
Facebook (NasdaqGS:FB) may change its Libra strategy
following considerable scrutiny from regulators and policymakers. Head of Libra
David Marcus told a panel at a recent banking seminar that the firm was open to
different approaches than the originally-intended basket of fiat currencies.
“We could do it differently. Instead of having a
synthetic unit ... we could have a series of stablecoins, a dollar stablecoin,
a euro stablecoin, a sterling pound stable coin, etc…
We could definitely approach this with having a multitude
of stablecoins that represent national currencies in a tokenized digital form.
That is one of the options that should be considered.”
Taiwanese
electronics giant HTC (TWSE:2498) has launched the
Exodus 1S, a blockchain phone that includes a crypto hardware wallet and a
bitcoin node. The fully-running Bitcoin (BTC) node allows users
to be a part of and grow the Bitcoin network. HTC’s Chief Decentralized Officer
Phil Chen spoke to CNBC, explaining that
running the node made it possible to “calculate the user’s balance and ensure
that future transactions are verified, further ensuring that the balance is
actually owned by the spender”. He went on to say:
“Initially considered a gimmick by some, crypto
technology is the next frontier of smartphone innovation. For the smartphone
category to grow again, we need more adoption of cryptophones.”
DMG Blockchain
Solutions Inc. (TSXV:DMGI) has entered into a preliminary
agreement with crypto hardware manufacturer Bitmain to manage the latter’s
newly-announced mining facility in Rockdale, Texas. DMG’s CEO, Dan Reitzik,
commented:
“Being chosen by the world’s leading bitcoin mining
company is a great testament to the capabilities of DMG’s mining team. Over the
past several months, Bitmain visited many large facilities throughout North
America including DMG’s flagship facility in British Columbia, Canada. We look
forward to working together to build and manage North America’s largest and
most efficient mining facility, running the world’s most advanced crypto mining
technologies.”
Bitmain’s mine
currently boasts a 25MW capacity, with another 50MW under construction. The
mine can potentially expand to a capacity of 300MW, which would make it the
largest Bitcoin mine in the world. The mine’s land comprises 33,000 acres which
is owned by the Aluminum Company of America, Alcoa (NYSE:AA). Clinton Brown,
Rockdale Lead Project Manager for Bitmain, commented:
"We are excited to launch this facility, which is
significant to Bitmain's global expansion plans. The stable and efficient
energy resources in Texas are fundamental to the inevitable scale of growth for
the cryptocurrency mining industry.”
Sam
Mowers, Investorideas
For
investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain
and Digital Currency Stocks Directory
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