These are the the latest news and updates about Bitcoin during the past week.
Mexican billionaire Ricardo Salinas Pliego spoke about the future of cryptocurrencies in his country. The researchers behind the Cambridge Bitcoin Electricity Consumption Index (CBECI) have revised their methodology. David Marcus, former CEO of PayPal and current head of Lightspark, spoke about his proposal to transform Bitcoin into a global payments network. Samson Mow, a prominent figure in the world of Bitcoin, introduced Liquid Network through the Telegram platform. Finally, F2Pool miners earn more than $500,000 for block 807,057, a rare event that was priced 481,299 times higher.
These are the five top news of the week regarding Bitcoin.
Mexican Billionaire Ricardo Salinas Pliego Revealed Why He Bets on Bitcoin
Ricardo Salinas Pliego explained his crypto investments, revealing that in his investment portfolio he has Bitcoin, MicroStrategy shares, as well as gold mining and oil companies shares.
He also claimed that he has owned Bitcoin since it cost $200, recalling that said purchase led him to carry out one of the most profitable operations when he sold it for $17,000. He explained that a “Bitcoin standard” is a bad idea, since that would go against its fundamentals, that is, it sees the cryptocurrency “superior” to fiat money.
Bitcoin Mining: Cambridge Acknowledges It Exaggerated in Measuring Consumption
The researchers behind the Cambridge Bitcoin Electricity Consumption Index (CBECI) have revised their methodology to improve the accuracy and reliability of the Index’s estimates for the first time since its creation in July 2019.
The CBECI was launched to provide reliable, data-driven insights to questions about the energy-intensive nature of Bitcoin mining and the associated environmental impact.
In 2023, Cambridge estimates that the Bitcoin network has consumed 70.4 TWh of energy so far. Now, experts say that there is still room for improvement, but that the new Cambridge model is a great advance.
Former PayPal President Hopes to Turn Bitcoin into a “Global Payment Network”
On the CNBC television program Squawk Box, David Marcus, former CEO of PayPal and current head of Lightspark, pointed out that he wants to transform Bitcoin into a global payments network hand in hand with the Lightning Network.
Specifically, Marcus explained that global payments should be as simple as asking for a person’s email or phone number and being able to use that information to send fast, secure global payments.
Samson Mow Reveals the Essence of Liquid Network in the Bitcoin Landscape
Samson Mow, a prominent figure in the world of Bitcoin, has shared information about Liquid Network in a recent video on Telegram.
Acting as a Bitcoin sidechain, the Liquid Network complements the Bitcoin Blockchain and fees are paid with BTC. This approach highlights the importance of user-centric innovation and transparency in cryptocurrencies.
F2Pool Miners Earn More Than $500,000 for a Bitcoin Block
On September 10, 2023, Paxos made a Bitcoin transaction that became famous overnight for its disproportionately large network fee. The transaction involved just 0.07 BTC, roughly valued at less than $2,000 at the time, but had a staggering fee of almost 20 BTC, which translates to over $515,000.
Initially, speculative eyes turned to PayPal, largely due to the identified behavior of the wallet involved. However, Paxos clarified things on September 13 with a statement. Meanwhile, F2Pool, a prominent Bitcoin mining pool, has opted to return the inadvertently overpaid network fee of 19.82108632 BTC to Paxos.
By Audy Castaneda
