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Fast Crypto News | Bit Digital Migration From China | Bitcoin Taproot Upgrade - YouTube
Channel: 馃拵 Crypto Gems 馃拵
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new york-based bitcoin mining company bitdigital聽
says the exit of its mining fleet from china聽聽
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is now complete a q a with the ceo and founder聽
of amber group singapore-based metabol has set聽聽
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its sights on becoming the world's largest nft聽
marketplace these stores and more here on crypto聽聽
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hi i'm jaden from cryptogems and here are the聽
latest news on crypto new york-based bitcoin聽聽
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mining company bitdigital says the exit of its聽
mining fleet from china is now complete with all聽聽
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of its miners having arrived in north america the聽
company started the migration back in october 2020聽聽
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but accelerated the move after china's聽
clampdown on the sector began earlier this year聽聽
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by the way bit digital was established in 2015聽
it was formerly known as golden bull with a focus聽聽
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on p2p car rentals in china but after a clampdown聽
on p2p landing in 2018 it struggled eventually聽聽
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making a pivot into crypto mining in 2020. seems聽
like they're kind of used to being bigfooted by聽聽
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chinese regulators and over in south korea the聽
national attack service or nts seem to be courting聽聽
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controversy by changing the way crypto related聽
businesses are categorized now at the moment these聽聽
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unregistered firms are categorized as software's聽
developers but the nts has told local tax offices聽聽
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to reclassify these south korea businesses as聽
virtual asset operators and the reason this has聽聽
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upset the industry there is that many of these聽
firms are struggling to comply with the latest聽聽
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crypto regulations in south korea and can't聽
even get accredited by the government there as聽聽
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licensed crypto businesses and that could make聽
the road ahead for them essentially untenable聽聽
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putting them all out of business up next is a q a聽
with michael wu the ceo and founder of amber group聽聽
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the question is bitcoin's taproot update聽
has finally gone live what exactly does聽聽
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the update do for the coin and its users here is聽
michael's response taproot is very exciting for聽聽
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the bitcoin community and broadly for the聽
cryptocurrency industry uh to simplify you聽聽
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know essentially is a major upgrade that will聽
allow better transaction privacy and efficiency聽聽
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on the bitcoin network and more importantly it聽
will then unlock more power for smart contracts聽聽
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on bitcoin which means you know developers can聽
start to build what we call layer 2 applications聽聽
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the next question is how will this update聽
change the way bitcoin is used in real life then聽聽
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do you see this dramatically increasing the uptake聽
on bitcoin giving its impact on smart contracts聽聽
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here is michael's response bitcoin as of right now聽
is recognized both within the crypto community and聽聽
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for the broader uh investment community as mostly聽
a storage of value you know digital gold is is the聽聽
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easiest way to put it properly however with that聽
said we are already entering a multi-chain world聽聽
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you know i think there are a lot of protocols that聽
are going to be specialized in different areas聽聽
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of the decentralized economy or the what we call聽
the web 3.0 economy in bitcoin's case you know聽聽
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i think the top route will enable and unlock聽
some further utility on the network meanwhile聽聽
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singapore based midable has set its sights on聽
becoming the world's largest nft marketplace聽聽
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in a major platform upgrade it will catalog聽
all nfts ever minted on ethereum as well as聽聽
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introducing a new rarity meter feature mintable's聽
new rarity meter puts nfts in categories ranging聽聽
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from common to holy grail according to how unique聽
their attributes make them users will also be able聽聽
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to see information on an nft transaction history聽
as well as cell reviews the platform's founder聽聽
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and ceo stated that such information is vital聽
for appraising an nft's value you need to be聽聽
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empowered when you're on the page so that you聽
can make an informed decision i'm like look聽聽
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you're selfish in some cases you're spending聽
more money than it costs to buy a car聽聽
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but you don't get any information right and so we聽
want to provide every bit of information we can聽聽
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because you're doing a 20 50 100 000 purchase you聽
need to know everything buck says the new features聽聽
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will cut down on the hours of research that both聽
regular traders and new users would have needed聽聽
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to do in the past and with 20 to 30 percent聽
of mintable users being brand new to crypto聽聽
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he hopes it will be a game changer but while聽
mintable currently has 300 000 users openc聽聽
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dominates the nft marketplace sector at present聽
holding a market share of over 90 percent聽聽
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if you've enjoyed this video leave us a thumbs聽
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cryptogymsofficial.com with new content every day聽聽
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so you don't miss a review news update or聽
the clearest information about bitcoin and聽聽
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cryptocurrencies anywhere and those are the latest聽
news on crypto and i'll see you on the next one
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