Jack Dorsey Muses on Social Media “Takeover”, Ethereum Weaknesses; Plus the Latest in Crypto Mining – Bitcoin.com News Week in Review – The Weekly Bitcoin News
Former Twitter CEO Jack Dorsey questions Ethereum’s ‘single points of failure’ and whether one man should be able to control an entire social media network, while Bitcoin.com News gives you the latest scoop in the world of ETH and BTC mining platforms. To top it off, an economist predicts that the US central bank’s response to the poor inflation seen could actually be good for crypto prices. Here’s your succinct summary of this week’s hottest crypto news: Bitcoin.com News Week in Review.
Jack Dorsey on Ethereum’s “single points of failure”
Internet entrepreneur and former Twitter CEO Jack Dorsey says that if developers rely on Ethereum, they have “at least one, if not multiple, single points of failure.”
The statement was in response to Vitalik Buterin’s comment regarding Elon Musk running Twitter.
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The top of the day ETH and BTC Mining devices continue to generate profits
While the crypto economy sits at just under $2 trillion, application-specific integrated circuit (ASIC) mining devices are making decent profits.
While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can net $51.58 per day in profit.
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Microbt Reveals Latest Bitcoin Mining Rigs
Following Bitmain’s introduction of two new application-specific integrated circuit (ASIC) bitcoin mining rigs, mining device maker Microbt has also announced the launch of two new miners.
Revealed at the Bitcoin 22 conference in Miami, Microbt showcased the company’s new Whatsminer M50 series, which offers hashing speeds of up to 126 terahash per second (TH/s).
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Economist: Fed’s Inflation Response Will Push Crypto Higher
Allianz chief economic adviser Mohamed El-Erian said the Federal Reserve’s response to inflation will cause the prices of cryptocurrencies, like bitcoin, to “rise”.
He noted, “It’s what you get when you’ve waited too long to recognize what inflation is and take action.”
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What do you think of this week’s hottest stories from Bitcoin.com News? Be sure to let us know your thoughts in the comments section below.
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