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News on Medial
Bitcoin mining used more water than New York city last year
Livemint
·
1y ago
Medial
Bitcoin-mining operations globally consume billions of gallons of water annually, with estimates projecting a footprint surpassing 591 billion gallons this year. This surpasses the water consumption of New York City residents and businesses, causing concern over environmental impacts, especially in regions with water shortages. The use of water is attributed to both cooling computer servers directly and indirectly through gas- and coal-fired power plants that require cooling water. Some efforts have been made to reduce the industry's dependence on fossil fuel-generated electricity. Changes to bitcoin's mining software may help reduce water and energy demands, but it requires consensus among stakeholders.
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Bitcoin mining has 'very worrying' impacts on land & water: UN study
Economic Times
·
1y ago
Medial
A recent study by UN scientists highlights the significant environmental impacts of Bitcoin mining activities worldwide. The study found that Bitcoin mining contributes to a heavy carbon footprint and consumes substantial amounts of water and land. The global Bitcoin mining network consumed 173.42 Terawatt hours of electricity in 2020-2021, resulting in a carbon footprint equivalent to burning 84 billion pounds of coal. The water footprint was comparable to filling over 660,000 Olympic-sized swimming pools, while the land footprint was 1.4 times the area of Los Angeles. The study emphasizes the need for regulatory interventions and technological advancements to improve the efficiency of the global financial system without harming the environment.
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Police Seize Bitcoin Mining Machines in Venezuelan Prison Bust
Startup News FYI
·
1y ago
Medial
Bitcoin mining machines were seized during a prison raid in Venezuela. The operation, which targeted the country's most powerful organized crime group, resulted in the confiscation of weapons as well as the discovery of a building full of Bitcoin miners. This is the first time Venezuelan authorities have targeted the criminal group known as Tren de Aragua, which is involved in various illegal activities. The mining machines are used to mint new coins and require a significant amount of electricity. Similarly, just two weeks prior, Chilean police uncovered a drug trafficking ring with a Bitcoin mining operation.
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New York is in, San Francisco is very much out for tech workers relocating
Business Insider
·
1y ago
Medial
The greater New York City area attracted the highest number of relocating tech workers last year, surpassing San Francisco, according to a SignalFire report. Despite some workers leaving the city, New York experienced a net gain in talent. The most common destination for tech workers leaving San Francisco was New York. Additionally, the report highlighted Austin and Los Angeles as popular cities for tech workers to relocate to. Meanwhile, the San Francisco Bay area saw its tech pool shrink the most, followed by Seattle and Boston. The cost of living was cited as a factor, but NYC's burgeoning tech scene was also a major driver.
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Bitcoin hits all-time high above 69k
TechCrunch
·
1y ago
Medial
Bitcoin has reached a new all-time high, surpassing $69,000, driven by increased demand following the approval of spot bitcoin ETFs in the US and the upcoming bitcoin halving in April. The cryptocurrency has gained over 60% this month and 205% this year. Bitcoin halving occurs approximately every four years and leads to a decrease in mining rates. This process aims to control the supply of bitcoin, and the upcoming halving is expected to further boost demand for the asset. Additionally, the approval of spot bitcoin ETFs has attracted new institutional and retail investors.
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The US Has Failed to Pass AI Regulation. New York City Is Stepping Up
Wired
·
1y ago
Medial
New York City is taking the lead in AI regulation with the introduction of an AI Action Plan, aiming to protect residents from biases and discrimination caused by AI. The plan includes the development of standards for AI purchased by city agencies and mechanisms to assess the risk of AI used by city departments. Additionally, legislation has been proposed to create an Office of Algorithmic Data Integrity that would oversee AI in New York City, addressing citizen complaints and assessing AI systems for bias and discrimination. This move comes as the federal government struggles to pass AI regulation.
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Litecoin vs Bitcoin — Common Grounds and Distinct Differences
Finsmes
·
1y ago
Medial
Bitcoin and Litecoin, both major cryptocurrencies, share similarities due to Litecoin being a fork of Bitcoin. These include their decentralized nature, Proof-of-Work consensus mechanism, limited supply, and open-source development. However, there are differences between them as well. Litecoin uses a different mining algorithm (Scrypt) and has a shorter block generation time, making it more attractive for merchants. Its faster transaction confirmation speed also makes it more suitable for payments. Additionally, Bitcoin holds a dominant market position while Litecoin has seen a decline in rankings and price in recent months.
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MicroStrategy’s $2 Billion Bitcoin Buy Is Largest Since 2020
Livemint
·
8m ago
Medial
MicroStrategy Inc., the software maker turned crypto hedge-fund proxy, recently purchased 27,200 Bitcoin for approximately $2.03 billion. This marks the largest Bitcoin purchase by the company since it began acquiring the digital asset more than four years ago. MicroStrategy's co-founder and Chairman, Michael Saylor, initiated the investment in Bitcoin as a hedge against inflation in 2020. The company initially used cash for purchases but has since shifted to using proceeds from stock issuance and sales, as well as convertible debt sales. The latest purchase brings MicroStrategy's Bitcoin holdings to around $23 billion.
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Airbnb asks New York City to reconsider regulations on short-term rentals
Economic Times
·
11m ago
Medial
Airbnb has asked New York City to reconsider its regulations on short-term rentals, claiming that they have resulted in higher prices for travelers without making any impact on the housing market. The company argues that local law LL18, requiring hosts to be permanent occupants of the units they rent out and register with the city, has failed to address the housing crisis effectively. Airbnb states that the number of listings allowing stays under 30 nights has dropped by 83% since the law's implementation, but the vacancy rates for apartments in the city remain unchanged. The company also points out that hotel rates in New York City have increased more compared to the rest of the U.S. By rolling back parts of the law, Airbnb believes the city can boost accommodation supply, support hosts, and benefit local businesses reliant on tourism revenue.
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New York's mayor Eric Adams can now speak Mandarin, Yiddish using AI
Economic Times
·
1y ago
Medial
New York City mayor, Eric Adams, has used artificial intelligence to create robocalls in multiple languages, including Mandarin and Yiddish, to promote city hiring events. However, the calls did not disclose that the mayor only speaks English or that AI was used to generate the voice translations. The use of AI and deepfakes in politics has raised ethical concerns, with watchdog groups criticizing Adams' robocalls as misleading and unethical. The growing use of AI and deepfakes has prompted calls for greater regulation from government and major media companies.
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New York City bans TikTok on government-owned devices over security concerns
Reuters
·
1y ago
Medial
New York City has banned TikTok on government-owned devices due to security concerns, following other U.S. cities and states. The decision is based on worries about possible Chinese government influence through the popular app, owned by ByteDance. New York City agencies must remove the app within 30 days, affecting access on city-owned devices and networks. TikTok has denied sharing U.S. user data with China and emphasized its privacy measures. U.S. security officials, including FBI and CIA directors, have expressed concerns about TikTok's potential security threat.
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