Bitcoin Backed Dollar

Backing the U.S dollar with Bitcoin Argo Blockchain completes another funding Round Samsung developing gddr7 and bz Minor releases an update all of that and More on today's episode of blocks where I cover cryptocurrency news as quickly As possible from the perspective of a Cryptocurrency miner let's get into it [Music] Looks like Robert F Kennedy Jr is making Some bold moves in the world of Cryptocurrencies during a recent speech At the Heal The Divide pack event he Announced his plan to back the US dollar With Bitcoin if he wins the 2024 Election this move could have Significant implications for Cryptocurrency and a future of global Finances now what exactly does this mean Well Kennedy Jr believes that by backing The US dollar with Bitcoin it would Facilitate Innovation and make the US a Leader in the cryptocurrency and Blockchain Technology space this could Attract more Investments and open the Doors for new ventures in the world of Cryptocurrencies marking a new era for Global finances candy Jr also stated That investors making profits from Bitcoin would be Exempted from capital Gains tax oh my goodness vote this guy In this could further incentivize people To invest in cryptocurrencies and Stimulate the growth of the digital

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Asset Market it but that's not all Sons Robert F candy Jr is a strong advocate For Bitcoin and blockchain technology in A previous speech he emphasized the Importance of defending the right of Self-custody of Bitcoin allowing Everyone to have the freedom to run a Node at home he also believes that Bitcoin should not be considered a Security and should not be heavily Regulated by governments he criticized Past administrations for using Fiat Currencies to fund Wars pointing out That fiat currency was actually invented For that very purpose Kennedy Junior's Vision is clear he wants to promote Transparency in government by spending And accountability when it comes to Funding major expenses like Wars by Embracing base currencies like Bitcoin He aims to eliminate the hidden tax of Inflation and create a more open Dialogue with the public now of course This is all part of his political pitch And it will be subject to debates and Discussions only time will tell how the Public and other political leaders Respond to this ambitious proposal but One thing is certain Robert F Kennedy Jr's vision for a Bitcoin backed US Dollar is shaking up the political Landscape and sparking a much needed Conversation about the future of Cryptocurrencies the london-based

Cryptocurrency minor Argo blockchain has Successfully raised a total of 5.7 Million British pounds which is the Equivalent of about 7.5 million US Dollars this was done through a sale of New shares this fundraising comprised of Private placing that brought in 5.134 million pounds and a public sale That contributed 616 000 pounds the Company's announcement came out on Wednesday and it seems that they have Some specific plans for the funds According to Argo blockchain the Proceeds from the share sale will be Used to tackle the company's outstanding Debt which stood at a substantial 59.1 Million pounds prior to the the sale This move to pay down their debt could Have significant implications on the Company's Financial Health and future Projects however it's essential to note That the number of shares sold Represents about 12 percent of the Company's pre-sale market cap and they Were priced at 10 pence per share which Is roughly 14 percent less than the 30-day volume weighted average price of Argo stock this could be a possible Reason for the current slump in their Stock value now let's rewind a bit to April when Argo blockchain reported a Net loss of a whopping 194.2 million Pounds for the full year compared to the Previous year's net income of 30.8

Million pounds this significant drop in Profits was attributed to the sharp Decline in the value of Bitcoin over the Preceding 12 months which made it Challenging for many mining firms Including Argo to remain financially Stable however despite the tough times Argo managed to avoid the fate of Bankruptcy faced by some of its Competitors the they did so by making a Strategic move selling their Helios Mining facility in Dickens County Texas To Galaxy digital for a staggering 65 Million US dollars in addition they Secured a 35 million dollar loan from The crypto focused Financial Services Firm Michael novogratz using their Mining equipment as collateral now Here's the kicker folks despite the Recent share sale in their strategic Maneuvers ARB Shares are currently down More than 20 percent and are trading at 10.74 Pence as of the time of riding This could be a reflection of the Volatile nature of the crypto market and Investor sentiment towards argo's Financial performance bitcoin's recent Price action has been quite intriguing Despite a rally last week the price of Bitcoin has now reversed hovering around 29 700 on sluggish volume one noticeable Pattern is that whenever Bitcoin Approaches the thirty one thousand Dollar Mark we see Swift price reversals

Preventing a substantial breakout one Possible explanation for this phenomenon Could be the sales by Bitcoin miners During these price rallies according to On-chain analytics firm glass node Bitcoin miners have been decreasing Their overall net position for the past 20 consecutive days as Bitcoin prices Have pushed past the thirty thousand Dollar threshold for most of this month This indicates a potential shift in Sentiment among miners as they may be in Need of capital or might have a Short-term bearish outlook on bitcoin However it's essential to consider other Possibilities as well bitcoin's Remarkable eighty percent gain year to Date could be a driving force behind Miner's decision to take some profits Off the table but it's worth noting that Overall trading volume hasn't been Strong enough to indicate a mass Exodus Of miners from the asset Additionally The current balance of 1.83 million Coins held by miners versus 1.82 million On January 1st suggests that this Activity might simply be a rebalancing Of their overall positions rather than a Direct commentary on price levels Another technical indicator that's worth Exploring is the breach of the lower Range of bitcoin's Bollinger Bands these Bans are a valuable tool and technical Analysis tracking an asset's 20-day

Moving average against price levels to Standard deviations above and below that Average normally prices are expected to Remain Within These two standard Deviations about 95 percent of the time Making breaches above or below Statistically significant events on June 14th we saw a bullish example of prices Moving higher shortly following an Upside breach however today's action Seems potentially bearish with the Current price of 29 750 dollars Representing a minor downside breach of The 29 000 an 800 low end of the Bollinger band range interestingly Significant price agreement exists at The thirty thousand dollar level as Indicated by bitcoin's volume at Price Profile this substantial activity at Thirty thousand five hundred dollars Since May often referred to as high Volume nodes signals a strong consensus Between Traders and could be a reason Why prices tend to stabilize around this Area Samsung Electronics has done it Again building on its success with the 24 gigabits per second gddr6 ram last Year the company has now developed the World's first gddr7 Ram this impressive 16 gigabit gddr7 offering is expected to Be installed in Next Generation systems Of key customers for verification later This year Paving the way for the future Growth of the graphics market so what

Makes this new gddr7 Ram so special well First of all it boasts the highest speed In the industry to date with a Staggering bandwidth of 1.5 terabytes Per second it outperforms gddr6s at 1.1 Terabytes per second by a remarkable 1.4 Times this extraordinary speed is made Possible by Innovations in integrated Circuit design and packaging which Ensure added stability even during High-speed operations Executive Vice President of memory product planning Team at Samsung Electronics expressed His excitement about the possibilities Gddr7 brings he stated quote our gddr7 Ram will help Elevate user experiences In areas that require outstanding Graphics performance such as Workstations PCS and game consoles don't Forget about the miners it is expected To expand into future applications such As AI high performance Computing and Automotive Vehicles end quote clearly Samsung envisions a wide range of Applications for this Cutting Edge Tech Technology one of the key advancements That enables the impressive performance Of gddr7 is the adoption of the pulse Amplitude modulation Pam 3 signaling Method which is an improvement over the Non-return to zero used in previous Generations Pam 3 also allows 50 percent More data to be transmitted than nrz Within the same signaling cycle further

Enhancing the efficiency and speed of Gddr7 moreover Samsung's gddr7 Ram Showcases exceptional Energy Efficiency The latest design is 20 percent more Power efficient than gddr6 thanks to Power saving Design Technology optimized For high speed operations for Applications that prioritize power usage Such as laptops Samsung offers a low Operating voltage option to cater to Those specific needs to address thermal Concerns Samsung has utilized an epoxy Molding compound with high thermal Conductive activity for the packaging Material in addition to IC architecture Optimization these improvements have Dramatically reduced thermal resistance By a remarkable 70 percent when compared To gddr6 the result a stable product Performance even in conditions demanding High speed operations finally bz minor Version 15.4.2 is here and it's packed with Optimizations and fixes to enhance your Mining experience and this hot fix the Developers have further optimized the CPU usage ensuring that your system runs Even more smoothly during mining Operations one of the notable fixes is Related to the Zill overclocking switch With the latest release bz Miner Addresses a possible crash issue making The mining process more stable and Reliable for those mining silica a new

Option called zil gpus has been added Now you can specify a list of GPU Indexes to mine zylon if not specified All gpus will mine Zill by default Moreover the developers have been hard At work fixing various dag generation Issues in this release they've tackled Problems with Raven coins XNA or Clore Meowcoin and nyoksa ensuring that Crashes and out of memory errors are now A thing of the past when it comes to Specific mining pools bz minor version 15.4.2 has also addressed some issues Now you can mine on two minor K1 pool And F2 pool for ethereum classic OCTA And ethereum proof of work without any Hiccups now as with any software release There are some known issues that bz Minor developers are actively working on If you're using Nvidia cards and Encounter issues allocating larger necks A lot make sure you update your NVIDIA Drivers for a seamless experience for Those mining compel coins on AMD cards a Fix is on the web okay so stay tuned for Updates on that front additionally there Was a bug in NVIDIA drivers 530-535 which reported incorrect clock Frequencies the good news is that Nvidia Has fixed this bug in the latest driver Version of 535 or higher so make sure to Update your drivers to enjoy the fix Thanks everybody for watching this Episode of blocks be sure to hit the

Like comment subscribe and notification Bells down below please check out my Crypto mining e-course at son of a Tech.com to help support the channel and If you're curious on my daily moves and Additional supported documentation for Any how to use please check out son of a Tech.locals.com I will see you next Tuesday

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