Paraguayan Bitcoin Mining Companies Hit Hard by 50% Fee Hikes

• Paraguayan bitcoin mining companies are experiencing a significant decrease in profitability due to the government’s power fee hikes of over 50%.
• Business developer Nano Grijalba of Braiins Mining has expressed concern over the discriminatory nature of the fee hikes and its impact on the hosting activity in the country.
• The Paraguayan Congress passed a legal framework to regulate cryptocurrency mining and exchange activities in the country, however the law was vetoed by the current president of Paraguay.

Paraguay has long been seen as an attractive destination for cryptocurrency miners, however the country’s government has recently implemented power fee hikes of over 50% for cryptocurrency mining activities, creating an unfavorable environment for miners and significantly reducing their profitability. Nano Grijalba, business developer of Braiins Mining, has spoken out about the discriminatory nature of the fee hikes and its impact on the hosting activity in the country. He noted that the costs and margins of the international market have made offering this service impossible due to the high fees.

Grijalba also raised concerns about the environmental logic of these measures, stating that “Paraguay’s decision to increase fees for bitcoin mining, a clean industry, while attracting high-emissions industries with low fees, is questionable. We must prioritize support for clean industries for a sustainable future.”

In July of last year, the Paraguayan Congress passed a legal framework to regulate cryptocurrency mining and exchange activities in the country, establishing limits to the power fees for mining. However, this law was vetoed in August by the current president of Paraguay, further cementing the unfavorable environment for miners.

The power fee hikes have caused significant losses for Paraguayan mining companies and have put the future of the hosting activity in the country into doubt. As a result, many miners are looking to other countries to pursue their activities, as the high costs make mining in Paraguay unprofitable. This has led to a decrease in the number of miners, and a decrease in the number of jobs the industry is creating.

It remains to be seen how the government will respond to the negative impacts of the power fee hikes, and if they will reconsider their decision to veto the legal framework that was proposed to regulate cryptocurrency mining and exchange activities. Until then, Paraguayan miners will continue to struggle to make a profit in the country.

WEF Launches Metaverse Platform For Global Leaders: Global Collaboration Village

• The World Economic Forum (WEF) has announced the rollout of its own metaverse platform, the Global Collaboration Village.
• This virtual world will allow for more efficient collaboration between world leaders, as well as extending Davos meetings throughout the year.
• The technology that will power this metaverse platform is provided by Microsoft through its Mesh suite.

The World Economic Forum (WEF) has announced the rollout of the Global Collaboration Village, its own metaverse platform. This virtual world is designed to look like the actual town of Davos in which the organization meets once every year. The platform will allow for more efficient collaboration between world leaders, as well as extending Davos meetings throughout the year.

Klaus Schwab, chairman of the organization, believes that meeting through avatars and digital representations might empower the creativity behind these meetings, compared to the video meetings that commonly occur during these events. He is optimistic that this could revolutionize global collaboration and hopes that the effect of the policies discussed at Davos might be amplified through constant feedback.

The technology that will power this metaverse representation of Davos will be provided by Microsoft and its Mesh suite, which extends the functionality of Teams, the popular business meeting software, to allow users to appear as 3D avatars. Mesh also has a specially designed app for VR headsets that allows for more interactivity with digital worlds.

The Global Collaboration Village will be accessible to users with a Microsoft account and VR headsets. The WEF is hoping that the platform will bring together people from all around the world and enable them to engage in meaningful conversations. It is also hoping that this level of collaboration will allow for more informed decisions to be made.

The WEF is planning to launch the Global Collaboration Village in early 2022 and will be inviting people to join the platform as soon as it is available. The potential of this platform is immense and it could be the first step in a new era of collaboration between world leaders.

Trump Launches NFT Collection, Generates $53K in 24 Hours

• Donald Trump recently launched a non-fungible token (NFT) card collection which sold out on the first day.
• Winners of the Trump-themed prizes are selling prize NFTs on secondary NFT marketplaces such as Opensea.
• In the past 24 hours, the “Win Trump Prizes” collection has seen 38 ether, or roughly $53,000 in sales.

Donald Trump recently launched a non-fungible token (NFT) card collection, offering lucky winners the chance to have a one-on-one Zoom meeting with the 45th president of the United States and a gala dinner with the former president in Florida. The NFT collection was met with mixed reactions by pundits on the left side of the political spectrum, but still sold out on the first day of its launch.

Now, winners of the Trump-themed prizes are selling prize NFTs on secondary NFT marketplaces such as Opensea. The NFTs act as passes for the Zoom meeting and dinner with Trump, and were minted on the Polygon blockchain, just like the trading card set. During the past 24 hours, the “Win Trump Prizes” collection has seen 38 ether, or roughly $53,000 in sales, on Thursday, Jan. 12, 2023.

The collection does not represent a large portion of non-fungible token sales, however, as it only represents 0.18% of the total NFT sales recorded on Jan. 12th. Nevertheless, it still shows the power of NFTs and their ability to generate real-world value for their owners.

It remains to be seen if the “Win Trump Prizes” collection will continue to generate sales, or if it will eventually become just a footnote in NFT history. For now, however, it appears to be a success, with the sale of 38 ether in just 24 hours, and it’s a great example of how NFTs can be used to generate real-world value.

Bitcoin Difficulty Increase to Reach All-Time High on Jan. 15, 2023

• On Jan. 15, 2023, Bitcoin’s mining difficulty is expected to increase by 10% to an all-time high of 37.57 trillion.
• The network’s hash rate is currently at 268.79 exahash per second (EH/s) and its computational power reached an all-time high on Jan. 6, 2023.
• Foundry USA and Antpool command nearly half of Bitcoin’s global hashrate.

The leading cryptocurrency network, Bitcoin (BTC), is set to experience a notable difficulty increase in just three days, on or around Jan. 15, 2023. This increase will be the largest in Bitcoin’s history, and is estimated to raise the network’s difficulty by 10%, from 34.09 trillion to an all-time high of 37.57 trillion.

At the time of writing, the Bitcoin network’s hash rate is at 268.79 exahash per second (EH/s), and was recently recorded at an all-time high of 361.20 EH/s on Jan. 6, 2023. This impressive hash rate has enabled the network to remain secure and reliable, however, the increasing hash rate has also caused the block time to decrease from 10 minutes per block to an average of 8 minutes, 52 seconds, and 9 minutes, 6 seconds. As a result, the upcoming difficulty retarget on Jan. 15 is expected to boost hashrate requirements, and this increase has not been seen since October 2022.

Foundry USA and Antpool are two of the largest mining pools on the Bitcoin network, and they currently command nearly half of the network’s global hashrate. Foundry USA has been particularly active on the network, and currently holds 26.6% of the network’s hashrate. Antpool has also been successful, and currently holds 16.7% of the network’s hashrate.

It is expected that the upcoming difficulty increase will further strengthen the security of the Bitcoin network, and also help to ensure that block times remain stable. This will benefit miners, investors, and users of the network, and marks a significant milestone for Bitcoin.