Cryptocurrency Congressional Hearing

Chief executives of six cryptocurrency companies testified before the House Financial Services Committee on Wednesday.  During the five hour session the committee asked questions about cryptocurrency, digital assets and the potential impact of regulations.  The fact finding mission included questions ranging from what is Web3 to what are stable coins, and what are the impacts of heavy handed regulations on the burgeoning industry.  When asked whether decentralized finance was just another form of the current financial system, Mr Allaire responded by saying “I really do believe we are building a new global economic infrastructure layer.”

The transparency and immutability of blockchain was discussed and its benefit to investors, with witnesses urging congress to consider cryptocurrency as a step change in the financial system that could be regulated using existing methods.  It was suggested that opportunities should be created to bring investors into the system safely, similarly to the development of ETF’s and Mutual funds that allow investors to diversify risk without the required knowledge to analyze equities.

Open source vs. closed loop systems like stable coins and DAO’s were recommended over a Central Bank currency and limited access to investment vehicles with accredited investor limitations.

The following Video by Cnet Highlights is a 12 minute summary of the hearing.  If you have the time, we highly recommend watching.

Abracadabra Trader Joe Drama

DeFi drama spilled out onto twitter this week when when @Danielesesta and @traderjoe_xyz started throwing insults at each other over pool subsidies on the Trader Joe platform.  Trader Joe the primary swap platform on Avalanche and @Daniel the creator behind Popcicle, Wonderland and Abracadabra traded blows over the pool rewards announced for AVAX/USDC being much higher than the AVAX/MIM pool (MIM is a stable coin backed by interest baring crypto assets).

$JOE incentives on AVAX/USDC are 3.5x higher than AVAX/MIM incentives, yet volume and liquidity is higher on $MIM . We keep giving free money to the suits and that’s how they keep winning. Together we can change this. pic.twitter.com/nuXZ4l7H7i

— Daniele 🧊🧙‍♂️ (🎩, 🎩) (@danielesesta) December 8, 2021

70% of the AVAX/MIM farm is currently owned by Wonderland, diluting yield for you, the people. We keep giving money to large mercenary funds and that’s how they keep winning. Together we can change this. https://t.co/eqGgOK6dKP

— Trader Joe (🎩,🔺) (@traderjoe_xyz) December 8, 2021

The issue I have here is that ohm-forks are focused on emotion and temper rather than sound decision-making and diplomacy. I get shit on for taking decisions for JOE holders but nobody talks about the fact that time devs choose how to spend their DAO money https://t.co/fwEm1Mnt2X

— Trader Joe (🎩,🔺) (@traderjoe_xyz) December 8, 2021

Both xJoe and wMemo have seen a drop since the spat broke out.  Here’s hoping that they can forgive forget and get back to business.

From all of us here at the Crypto Current, keep on HODLing on and we’ll see you on the moon!!

Pythia

cryptopythia.com

DeFi Kingdoms Quests Live

DeFi Kingdoms announced this week that quests have finally gone live.  As of November 29th 2021, you can now access quests via the professions area in the game.  Fishing and foraging quests are currently available with more to be released soon.  Up to 6 heroes at a time can take in a given quest, with XP and new in game items as the rewards.  Vendor Zada is also live, and you can start trading your quest items for gold or save them for future use.

Patch v1.11.0 has gone live with the following NEW FEATURES:

• It’s finally here! Let’s go questing! Visit Fisher Tom or Woodsman Aurum to get started.
• Standard questing cost is 7 stamina per run. Heroes with a main profession that matches the chosen quest will have a reduced cost of 5 stamina per run.
• Updated art for the Professions zone.
• New Professions music to get you in the questing mood.
• Dozens of new in-game items! (Some are still hidden.)
• In-game item tokens have been added to the token list for easy access.

TIMELINE:

• December 3rd – Item shop opens up. More inventory arriving soon.
• December 8th –  Meditation Circle should be fully charged up!
• December 15th – Gardening Quests.
• December 22nd –  Mining Quests.
• January: Land NFTs begin to roll out!

In more exciting news, a new realm, Crystalvale was also announced this week.  Read our guide all about how to get started in DeFi Kingdoms.

⚔ Really exciting news, Heroes! We’re introducing the upcoming launch of a new realm in the kingdoms…

❄🏰 DeFi Kingdoms: Crystalvale is coming to the #Avalanche blockchain!@avalancheavax #defikingdoms $JEWEL $CRYSTAL $AVAX pic.twitter.com/rwCOsymKwJ

— DeFi Kingdoms (@DefiKingdoms) December 2, 2021

Terra Luna  On the Rise

The Terra ecosystem is heating up.  Luna, Terra’s native staking and governance token has seen a 60% surge in value within the past week reaching new all time highs. With exciting projects like Astroport, Pylon, Whitewhale and Mars coming online, the Terra ecosystem is gaining some real traction.  The lock drop for Astroport begins December 6th for those who have staked on Terra.

Astroport is a new automated market maker(AMM) that will introduce multiple pool types to Terra – a traditional constant product AMM similar to Uniswap, a Stableswap Invariant pool type similar to curve finance, and liquidity bootstrapping pool type similar to Balancer style pools.  Astroport has a highly flexible architecture which will allow the protocol to continue to develop novel pool types.  One of the most anticipated aspects of Astroport is the Astro Generators, which will allow for dual farming opportunities using protocols like Anchor.

$UST, Terra’s USD pegged stable coin has seen an increase in acceptance with recent partnerships with Curve finance and Abracadabra on Ethereum mainnet.  As the $UST stable coin market cap grows and it is accepted across a wider variety of chains, Terra is sure to follow.  Terra ranks number 5 in smart-contract chains based on TVL with around 12.6 Billion.  It is also partnering with Metaverse games like Summoner’s War.  Keep an eye on Terra in the future, or get involved now with projects like Anchor and Mirror who offer some great returns on stable coins.

From all of us here at the Crypto Current, keep on HODLing on and we’ll see you on the moon!!

Pythia

cryptopythia.com

Talecraft.io

The creators of Talecraft, the newest crypto game releasing on the Avalanche network, have had a busy November.  This week Talecraft went live on the Fuji- C test net, giving users the first chance to try out the game.  The funding round on Avalaunch also closed this week on November 23rd and was the the Avalaunch’s biggest IDO offering to date.

Talecraft is a PvP, play-to earn online board game, that allows users to craft in-game NFT cards and use them to compete with other players.  $Craft, the in-game token is used to open chests and mint new cards.  Players then compete with others and earn AVAX rewards.

$CRAFT will available to the public on Trader Joe on November 26th.

India Banning Private Cryptocurrencies

In a move to create a framework for government sanctioned digital coins, India’s government will ban most cryptocurrencies.  A bill, planned to be introduced to parliament Monday, will prohibit all private cryptocurrencies in India.  Authorities have cited concerns that digital money may lead to illegal acts like money laundering, drug trafficking and terrorism as justification for the move.  In 2018 India banned the trading of digital currencies, but it was repealed in 2020.  India is one of the fastest growing crypto markets in the world and it’s growth has spurned concerns over control of the emerging market.  There is a growing anxiety by many governments about cryptocurrencies, with China banning all cryptocurrency in September, and regulations being introduced in many parts of the world. 2

The Metaverse  – A 1 Trillion Dollar Market?

According to the crypto investment firm Greyscale, the Metaverse could represent over a 1 trillion USD annual revenue market.  In a report released Thursday “The Metaverse, Web 3.0 Virtual Cloud Economies,” Greyscale explores the opportunities that could result using the blockchain as the backbone for gaming, social media and online spending.  They estimate that virtual gaming could grow to a 400 billion USD market by 2025, with much of the spending being in-game.3

NFT – The Word of The Year

Collins Dictionary has chosen the term non-fungible token (NFT) as the Word of the Year. Collins defines an NFT as a non-fungible token: a unique digital certificate, registered in a blockchain, that is used to record ownership of an asset such as an artwork or a collectible. 4  A small step for a dictionary, but a giant leap for a crypto kitten.

From all of us here at the Crypto Current, keep on HODLing on and we’ll see you on the moon!!

Pythia

cryptopythia.com

Crypto Arena

Crypto.com just bought itself an early Christmas gift.  The Staples Center in downtown Los Angeles – home of the Lakers, Clippers, Kings and Sparks is to be renamed the Crypto.com Arena.  The new logos will be released Christmas day and signage is to be updated by June 2022.  Crypto.com paid 700M USD for the naming rights for 20 years, making it one of the biggest deals in sports history. Crypto.com’s Kris Marszalek, said “people will look back at this moment as the moment when crypto crossed the chasm into the mainstream.” Chief Executive Dan Beckerman said that “Crypto.com [was] looking for the most unique branding platform to make a statement and drive adoption, and we [were] looking for an innovative, forward-thinking company to help us chart a course for the future of sports and entertainment events.” 1

CRO, Crypto.com’s token has soared since the news broke, reaching a new all time high of 0.59 USD up over 180% this month and 800% since the beginning of the year.  The gains  have been attributed to the new deal with the Arena, and their increased marketing efforts.  They have brought on Matt Damon as a spokesperson.

US Infrastructure Law to be Modified?

The infrastructure bill signed by U.S. President Joe Biden on Monday, will require crypto miners and software developers to report customer information to the IRS.  This could be challenging, if not impossible, due to cryptocurrencies decentralized nature.  New legislation, the “Eliminate Barriers to Innovation Act of 2021,” was introduced to congress this week, with the goal of clarifying whether crypto coins/tokens are a security or commodity.  It proposes that a working group composed of industry experts, the SEC, and CFTC take a year evaluate the legal framework for cryptocurrencies.  It would also look at how private key management and cybersecurity are treated under the law and how risks can be mitigated for investors.

From all of us here at the Crypto Current, keep on HODLing on and we’ll see you on the moon!!

Pythia

cryptopythia.com

Decentralized Social Media?

Twitter Creating A Crypto Team

In late September, we reported that Twitter was adding NFT functinality and Bitcoin Tips.  Twitter’s founder Jack Dorsey, who’s Twitter Bio is literally “#bitcoin” seems to be jumping into crypto, and more specifically Bitcoin, with both feet.  Twitter has announced they are formally launching a crypto team, with the goal of becoming “a center of excellence for all things blockchain and web3.”1  According to the report by Tech Crunch, Twitter will focus on crypto payments and NFT galleries; but the long-term goal is a push towards decentralized social media.  The hope is to allow the social media platform to run independently on the blockchain versus through hosted servers like Amazon Web Services.  Ultimately this would give individuals more control of their personal data.

Discord and Metamask

Discord founder and CEO Jason Cirton, tweeted a screen shot this week, depicting Metamask wallet integrated with the platform.  After backlash from the Discord community and calls to boycott their paid service, Citron clarified that the screen shot was an an internal concept and that there were no current plans to implement the integration without further consideration.

So probably nothing = actually nothing pic.twitter.com/IlzIFSWnnL

— cobie (@CryptoCobain) November 11, 2021

Discord Official Statement

“We appreciate all the perspectives we’ve been hearing in response to the internal concept you may have seen in a tweet earlier this week and want to clarify we have no plans to ship it at this time. We’re excited about the potential for web3 technology and the positive ways these communities are coming together on Discord, especially those organized around environmentally friendly, creator-focused projects. However, we also recognize there are some problems we need to work through. For now we’re focused on protecting users from spams, scams and fraud.”

Facebook Meta Platforms – Metaverse

Crypto confidence got a jolt last week when Mark Zuckerburg announced that Facebook has renamed itself Meta Platforms.  The name change signals that Facebook has embraced the concept of the Metaverse — a vision of the internet as immersive virtual worlds where people can work, play games, conduct e-commerce, and socially interact.  NFT’s and, crypto gaming companies are expected to be big winners from this announcement as play-to-earn virtual economies  are sure to benefit from the added momentum.

Vitalik Buterin Weighs in

Buterin, widely recognized inventor of the world’s most-used blockchain, weighed in on Twitter and Facebook’s upcoming changes.  He Suggested that Ethereum would be the best platform for both Twitter and Facebook’s plans.  In order for Twitter to become the center for everything Web3 “Jack is basically going to have to essentially create his own system that enforces those rules.”  “On Ethereum there’s native functionality that allows you to essentially directly put ETH or Ethereum-based assets into these smart contracts, into these lock boxes, where there’s then arbitrary conditions that can govern how those assets get released,” said Buterin.  As for Facebook’s plan to reinvent the internet, he recommended that Zuckerburg consider building his vision on an already existing blockchain. When asked where Etherum will be in 5 to 10 years, Buterin was quoted as saying “Hopefully running the metaverse.”2

From all of us here at the Crypto Current, keep on HODLing on and we’ll see you on the moon!!

Pythia

cryptopythia.com

De-Fi

SQUID Rug Pull

The play-to-earn cryptocurrency game based on the wildly popular Netflix series Squid Game, appears to have been a hoax.  The site which was widely circulated in the news, including in our weekly report last Friday, has since shut down.  Investors who purchased the SQUID coin in anticipation, saw the tokens price surge by thousands of percent, but were unable to sell their coins.  According to the tech website Gizmodo, developers made off with an estimated $3.38M.  The token peaked above $2,800 when the creators sold all their tokens draining liquidity from the pool and pulling the rug on the project.

Hindsight is always 20/20 as they say, but here are some red flags that appeared with SQUID.

1. Typos on the Site & in the Documentation

   If you went through the squid game website in detail and reviewed their white paper you would have noticed the poor English and odd typos. When we quickly reviewed the site we chocked this up to a language translation issue.

2. Couldn’t Sell SQUID

   There were reports quite early that SQUID purchasers were unable to sell or swap their coins. Initially this was reported as a required vesting date for the SQUID coins.

3. Website Age

   The online squid game website was launched only 5 days before the initial offering of the SQUID coin.

4. Wasn’t Affiliated with the Show

   It was a challenge to find the squid game website and there was no mention of Netflix at all.  This was a big red flag, as there are copyright issues with a third party using the show name and characters without authorization.

The online squid game was audited, but an audit does not guarantee the intentions of developers.  Audits do not fix issues, they only identify shortcomings in smart contracts.  Before investing in any project be sure to do your own research.  Rug Doc is an excellent resource.

 Crypto Mining

U.S. Picking up China’s Slack

With China’s crackdown on cryptocurrency and expulsion of miners, the hub of Bitcoin mining has changed.  As reported by Forbes, models estimate that the United States has captured 35% of the Bitcoin networks hash rate power, and has emerged as the new Bitcoin mining powerhouse.  Future mining machine orders and projects indicate that this will not change any time soon.  North America’s top six publicly traded BTC mining companies, have all seen significant increases in mining outputs in Q3 and have continued to expand their capacity.

Crypto Markets

After reaching a new all time high above 4,600 USD Ethereum has had a correction testing 4,425USD before moving back up towards 4,550.  BTC declined below 62,000USD, with initial support near the 61,500USD level and the next key support near 61,200USD.  SHIB is down 19% trading below 0.0000490USD.  The price of SHIB is now down more than 4o% from its all-time high. SHIB is the the worst performer among the top 100 crypto assets by market cap for the week.

From all of us here at the Crypto Current, keep on HODLing on and we’ll see you on the moon!!

Pythia

cryptopythia.com

De-Fi

“Squid Game” – Launches SQUID Crypto

Squid Game, the hugely popular Netflix show has launched SQUID a new cryptocurrency.  The coin was launched on October 20 and sold out within seconds.  Since its launch the price of the coin has rocketed from 1 cent to $2.34 a %2340 increase.  In November, a play-to-earn online tournament that follows the Squid Game show plot line will be launched.  The virtual Squid Game will offer prizes in the newly created SQUID coin.  Winners will earn 90% of the game’s entry fees which will be deposited in a reward pool. The remaining 10% will go to the developers.

**Edit: The website, liquidity pool and twitter page of this project are no-longer operation.  The developers have appeard to pull the rug on the project.  Do your own research before investing in any cryptocurrency project.

Crypto Mining

NBMiner 39.6 – Best LHR Hashrates

NBMiner 39.6 was released earlier this week.  The updated version of the software increases Eth mining rates on LHR cards from 71% to 74%.  The update also adds more controls for LHR auto-tuning.  NBMiner seems to be at the head of the class in regards to overcoming the limitations on the Nvidia LHR cards with other miners usually following suit shortly afterwards.  To download the updated miner head to Github, or update HiveOS and make sure to select newest version when configuring your flight sheets.   If you have LHR cards, be sure to check out our article about dual mining with T-Rex miner.

Crypto Markets

Eth Reaches New All Time High

Eth’s wild ride seems to be an ongoing theme in our weekly news article, and it has done it again.  This time Eth has it a new all time high, crossing the 4,400 USD barrier to hit 4,416.05 USD.  The rise in price has been attributed to the Altair upgrade to the Beacon Chain, that brings Eth 2.0 one step closer to realization.  Altair is the first upgrade to the Beacon Chain since it went live December 2020, and it is also likely the last upgrade before the merge with mainnet.

Paul Hauner, the lead developer of the Altair code told Cointelegraph:

“Altair introduced two primary changes. Firstly, it added support for light clients, which are low-resourced nodes that follow the chain with fewer features and slightly weaker security assumptions. Think of a lightweight node on your phone or in your browser. Secondly, it increased the penalties for being offline and for slashing. These penalties were set low from genesis, so we didn’t penalize users who were just learning the ropes. The merge will increase these penalties even more. Apart from these two primary changes, there was a handful of efficiency and tidiness.”

Japanese Crypto Exchange Licensed as a Derivatives Paltform

Liquid, one of the world’s largest crypto-fiat exchanges has announced that they have acquired a type 1 license in Japan, allowing them to trade derivatives on their platform. Liquid has over 800,000 customers with a reported daily trade volume of $1.1 Billion across 2021.  A launch date for derivatives trading has not yet been announced.

From all of us here at the Crypto Current, keep on HODLing on and we’ll see you on the moon!!

Pythia

cryptopythia.com

Crypto Mining

EIP 4345: Difficulty Bomb Delay to June 2022

Early in October EIP4345 was created.  The EIP delays the planned December 2021 difficulty bomb to Jun of 2022, extending the Ethereum 2.0 Delay.  This is great for miners looking to ge the most out of their rigs before Ethereum no longer supports Proof of Work.

What is the Difficulty Bomb?

The difficulty bomb was created to force developers to implement proof of stake.  The bomb significantly increases mining difficulty which would decreasing transaction speed and negatively impact on the end user experience.  Delaying the difficulty bomb has become a bit of a running joke and has been going on for over the past 5 years, as developers have continuously kicked the Proof of Stake can down the road.

Significance of This Delay

EIP4345 is a different from past delays.  This delay is shorter than previous ones and is directly linked the proof of stake transition.  Tim Beiko the author of EIP 4345 posted the following tweet in regards to the Delay.

All that being said, we’re going to push the bomb back to June 2022, which is 4 months after February 💣 To be clear, if the merge was ready before, we could do it prior to that. Also, we can push the bomb back again if we’re not ready. We’ll need to make a call around Feb!

— Tim Beiko | timbeiko.eth (@TimBeiko) October 15, 2021

Ethereum 2.0 Delay Timeline

Based on Tim Beiko’s tweets it seems reasonable to assume that developers will not meet the current December deadline and June 2022 will give developers a 4 month window to implement proof of stake once the programming for it is complete.  If we count back 4 months from June, that would suggest that the Ethereum 2.0 delay will be until February 2022.

Crypto Markets

Ethereum  Breaks 4300 USD

On October 21st 2021, Ethereum reached a peak 4,366USD, just shy of it’s all-time-high of 4,385 USD.  Eth has since pulled back to mid 4,100’s, but many expect it to continue on its upward trend.  ETH’s latest jump has boosted its year-to-date profits almost 450%, compared to  Bitcoins 130% returns over the same time span. This has raised the possibility that Eth may post better returns than Bitcoin in the coming sessions.

De-Fi

Visa Working On Cross-Chain Payments

Imagine going out for dinner, splitting the check, and everyone at the table paying with a different type of digital currency.  This is the future that Visa is proposing with their Universal Payment Channel (UPC). The UPC would work across chains by creating a hub that interconnects multiple blockchains and networks allowing users to securely transfer funds without having to worry about interoperability.  As a Hub between the block chains it would allow banks, businesses and consumers to seamlessly work together no matter what the currency being used.  As a trusted brand Visa could provide the security needed for widespread adoption of cryptocurrency use.

From all of us here at the Crypto Current, keep on HODLing on and we’ll see you on the moon!!

Pythia

cryptopythia.com

Crypto Mining

Dual Mining, did they finally crack LHR?

T-rex miner released 0.24.0 version of their crypto mining software last week.  In an attempt to beat the low hash rate limits set on Nvidia’s RTX 3000 series cards, T-Rex has created a miner that will allow you to mine 2 different coins at the same time.  The new software allows you to mine Ethereum with either Ergo, Raven Coin or Conflux simultaneously.  The miner downloads two DAG files onto your GPU and let’s you mine two coins at once.  T-Rex has already released an update 0.24.2 which fixes a Kapow hash rate degradation bug and adds additional functionality to both dual mining modes and LHR auto-tune modes.  For Nvidia 3000 series card miners this allows a much better ROI on the cards.  Read our article for details on how to set up T-Rex dual mining in HiveOS.

Crypto Markets

Ethereum Cracks 3800 USD

Ethereum has been on a tear with a 35% gain since the start of the month.  Despite the turbulence in the market as governments look to assert control over the crypto market, Ethereum has been making serious moves to re-test the $4,000 level of resistance.  If Ethereum can break the $4,000 psychological barrier it may be the stepping stone to a new all time high above $4,400 before the end of year.  Daily volumes for Ethereum has increased by over 20% to $19 Billion dollars.  Bitcoin and Ethreum prices usually correlate relatively well with ETH following BTC trends.  Keep an eye on BTC to see if the upward swing will continue.

De-Fi

Coinbase NFT Market

Coinbase announced this week that it plans to launch an NFT marketplace.  Users will be able to mint, collect and trade non-fungible tokens NFT’s.  You can join the wait list at Coinbase to get first access when the marketplace goes live.

NFT tokens are similar to digital coins, except that each NFT is unique.  They are a one-of a kind digital assets that represent the ownership of items like rare art or collectible trading cards.  This means that each NFT has its own value and attributes making it different from every other NFT.  Coinbase will offer a peer-to-peer platform, making NFT’s more accessible to everyone.

From all of us here at the Crypto Current, keep on HODLing on and we’ll see you on the moon!!

Pythia

cryptopythia.com

De-Fi

Tether Missing Funds?

If you have been playing in the De-Fi space for any amount of time, you will be a long-time veteran of stable coins.  Dai, USDc, and of course USDT (Tether), these coins are pegged to real-world assets and are the De-Fi equivalent of a USD.  Seen as a stable alternative to more speculative cryptocurrencies and usually relatively safe, they have varying methods to maintain their peg to the U.S. Dollar.  According to the Tether website, USDT maintains its peg “because they are anchored or ‘tethered’ to real-world currencies on a 1-to-1 basis and backed by [their] reserves.” The question is though, where are those reserves?  There has long been speculation in De-Fi circles that Tether is only partially backed by the real-world assets that they claim to own.  This week Bloomberg posted an op-ed piece about their attempts to find the elusive 69Billion USD backing the currency.

If Tether actually has the 69 BIllion in reserves that would make it one of the top 50 Largest Banks in the U.S.  This year alone Tether has issued more than 48 Billion in new funds piquing the interest of the U.S. Treasury.  Janet Yellen, the head of the U.S. treasury called a meeting in July to discuss the risks Tether poses to the U.S. economy.  A reserve of that magnitude could have serious implications for the whole of the U.S. economy.  During its investigation into the Tether’s history, Zeke Faux of Bloomberg was able to confirm only 15 Billion (about 1/4) of the required funds were being held in a bank in the Bahamas.  Tether has claimed that billions in short-term loans have been issued to large Chinese companies as well as billions of dollars to other crypto companies.  Much of which is backed by Bitcoin assets.  Let us know what you think about Tether in the comments.

Definitely take a look at the Bloomberg article it’s a very interesting read!

Crypto Markets

Bitcoin Surges to 55,000 USD

Bitcoin surged to a 5 month high this week of 55,735.52 USD according to Coindesk on the news from Treasury Secretary Janet Yellen and Securities and Exchange Commission chair Gary Gensler that they don’t have any plans to restrict cryptocurrency trading.  The comments run counter to several bills currently in consideration that would implement restrictions on the trading of cryptocurrencies.  The comments served to relieve the fears of cryptocurrency investors and drive the price of Bitcoin, Etherium and

Floki Frunkpuppy pic.twitter.com/xAr8T0Jfdf

— Elon Musk (@elonmusk) October 4, 2021

Did Elon Musk’s Dog Cause SHIB Coin to Surge?

Shiba was up over 47% in the past week well above its cryptocurrency counterparts.  Part of the increase could be due to overall market sentiment, but there are those that believe that it might all be due to Elon Musk and his very cute Shiba puppy. Who wouldn’t buy SHIB after one look at that guy?  To be clear there have also been rumors of Robinhood listing SHIB and news of whales bumping prices but let’s be honest, this is crypto and that dog is damn cute.

Crypto Mining

AMD RX6600 – The most efficient GPU yet?

The RX6600 rumor mill is rife with speculation and leaks have suggested AMD’s newest mid-level card will be released in mid-October.  The new card, a less powerful version of the RX6600 XT that was released in August of this year is meant to compete with Nvidia’s RTX 3060.  While the RX 6600’s specs don’t quite match the RTX 3060, benchmarks are indicating that the GPU may be able to compete.  For crypto miners though the question is all about hash rate efficiency.  For miners looking to get away from Nvidia’s low hash rate cards, AMD’s new mid-tier line offers Etherium mining with low power consumption.  The RX 6600 XT is one of the most efficient mining cards to date, achieving 32 MH/s at an amazing power consumption of 80 Watts.  Youtuber Son of a Tech is predicting similar hash rates for the RX6600 with an even lower wattage due to the lower number of cores, fewer stream processors, and compute units.  MSRP for the new card is expected to be 299 – 329 USD, but be prepared to see much higher market prices.

Are you mining with an RX6600 TX? are you going to be buying any of the new RX6600 cards? Let us know in the comments

From all of us here at the Crypto Current, keep next week, keep on HODLing on and we’ll see you on the moon!!

Pythia

cryptopythia.com