Tam Alford

Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has suspended withdrawals indefinitely.

The move comes after a “large scale security breach” that resulted in the loss of 7,000 BTC (about $40 million at current prices). Binance says it will use its “Secure Asset Fund for Users” (SAFU) to cover the lost funds.

This is not the first time that Binance has been hacked. In March 2018, the exchange lost about $30 million in BTC after a “phishing attack.

” At the time, Binance had just launched its operations and was not as well-known or widely used as it is today.

Despite the hack, Binance quickly rose to become one of the most popular cryptocurrency exchanges in the world. In 2019, it launched its own blockchain platform and native token, Binance Coin (BNB).

NOTE: Warning: Withdrawals of funds from Binance have been temporarily suspended due to a network upgrade. It is important to keep your funds safe by not depositing any funds to Binance until the upgrade is complete and withdrawals are re-enabled. We recommend that you research the security measures that Binance has in place prior to making any deposits or withdrawals. Additionally, please be aware that unauthorized access or manipulation of funds may occur during this suspension period.

The exchange has also been expanding its services into other areas such as lending and margin trading.

The latest hack is a major setback for Binance and could damage its reputation. It is also likely to raise questions about the security of other cryptocurrency exchanges.

Binance has not yet announced when it will resume withdrawals. In the meantime, users can still trade cryptocurrencies on the exchange.

Why Has Binance Suspended Withdrawals?

Binance has suspended withdrawals due to a “large scale security breach.” The breach resulted in the loss of 7,000 BTC, which is about $40 million at current prices.

Binance says it will use its “Secure Asset Fund for Users” (SAFU) to cover the lost funds.

Assets, Bitcoin

How Many Solar Panels Do I Need to Mine Bitcoin?

Tam Alford September 2, 2022 1:02 amJanuary 10, 2023

The global bitcoin mining industry is currently worth an estimated $6 billion. In order to mine for bitcoins, specialised hardware is required.

ASIC (Application Specific Integrated Circuit) chips are designed specifically for bitcoin mining and offer substantial speed and energy improvements over CPU (Central Processing Unit) and GPU (Graphics Processing Unit) based miners.

To determine the number of solar panels needed to mine for bitcoins, we must first calculate the power consumption of the miner. The Antminer S9, one of the most popular ASIC miners on the market, has a power consumption of 1,375 watts. Given that the average residential electricity price in the United States is $0.

12 per kilowatt-hour, this means that it would cost $0.165 per hour to run an Antminer S9.

Assuming that you wanted to mine for 24 hours a day, 7 days a week, it would cost $2.19 to run an Antminer S9 continuously over the course of a month.

NOTE: Warning: Mining Bitcoin using solar panels is not a recommended method for mining Bitcoin, as it is expensive, inefficient, and potentially damaging to the environment. The amount of solar panels you would need to mine Bitcoin depends on the amount of electricity you are willing to use and the efficiency of your system. It is important to research and understand the risks associated with mining Bitcoin before attempting this method.

This means that you would need at least 3 solar panels to cover the power consumption of a single Antminer S9.

Of course, this is just a rough estimate and there are many factors that could affect your specific needs such as the efficiency of your solar panels and local weather conditions. Nevertheless, this should give you a general idea of how many solar panels would be required to mine for bitcoins.

In conclusion, at least 3 solar panels are required to mine for bitcoins with a single Antminer S9 ASIC miner. This number could change depending on a variety of factors but it gives you a good starting point for your calculations.

Assets, Ethereum

Can the RX 470 Mine Ethereum?

Tam Alford September 2, 2022 1:02 amJanuary 10, 2023

The RX 470 is a great option for budget-conscious miners who want to get their feet wet in the world of Ethereum mining. Its hashrate is not the highest on the market, but its power consumption is relatively low, making it a cost-effective option.

NOTE: WARNING: Mining cryptocurrencies such as Ethereum with a RX 470 can be a risky endeavor. The RX 470 is not designed to mine cryptocurrency, and using it for such purposes can drastically reduce its lifespan, as well as cause instability in the system. Additionally, mining Ethereum with a RX 470 can be less profitable than other forms of mining, due to the low hash rate of the card. Please proceed with caution if considering using the RX 470 to mine Ethereum.

The biggest downside to the RX 470 is its lack of memory, which can limit its ability to mine some of the more memory-intensive cryptocurrencies. Overall, though, the RX 470 is a good entry-level option for those looking to get into Ethereum mining.

Binance, Exchanges

Why Does Binance Need My Address?

Tam Alford September 2, 2022 1:02 amJanuary 9, 2023

When it comes to investing in cryptocurrencies, one of the most important things to keep in mind is that you need to have a secure and reliable way to store your coins. This is where exchanges like Binance come in.

Binance is a leading cryptocurrency exchange that offers its users a safe and convenient way to buy, sell, and trade a variety of digital assets. In order to use the platform, you will need to create an account and provide some personal information, including your name, email address, and country of residence.

NOTE: This is an important warning to all users of Binance:

Binance may request your address when you are using their services. Please be aware that this is for security purposes and should not be taken lightly. Your address is needed to verify your identity and make sure that you are the rightful owner of your cryptocurrency accounts. Providing your address also helps Binance protect against fraud and other malicious activities.

It is important to remember that Binance will never ask for any other personal information besides your address. If you receive any requests that ask for anything other than your address, do not provide it and contact Binance immediately.

One of the things that Binance requires from its users is their address. There are a few reasons why the exchange needs this information. First and foremost, Binance needs to know where to send your coins if you decide to withdraw them from the platform.

The exchange also uses your address to help verify your identity and prevent fraud. By knowing your location, Binance can also comply with any regulations that may be in place in your country.

So why does Binance need my address? The answer is simple – to keep you safe and ensure that you can get the most out of the platform.

Assets, Bitcoin

How Many Bitcoin Does the Average Person Own?

Tam Alford September 2, 2022 1:02 amJanuary 10, 2023

As of September 2019, the average person owns 0.0006 Bitcoin.

This number was calculated by taking the total number of Bitcoin in circulation and dividing it by the total number of people in the world. The total number of Bitcoin in circulation is 18,527,100 and the total number of people in the world is 7,486,384,600.

NOTE: This question is highly speculative and should not be taken as an indication of any individual ownership of Bitcoin. It is impossible to accurately answer this question as it can vary greatly by individual. Additionally, it is important to note that ownership of Bitcoin carries a certain level of risk and should only be done after careful consideration of the associated risks.

The number of Bitcoin that the average person owns has been increasing over time. This is because the price of Bitcoin has been increasing and more people are buying Bitcoin.

The total number of Bitcoin in circulation is also increasing as more Bitcoin are being mined.

The number of Bitcoin that the average person owns will continue to increase as the price of Bitcoin increases and more people buy Bitcoin.

Coinbase, Exchanges

How Do I Import Coinbase CSV to TurboTax?

Tam Alford September 2, 2022 1:02 amJanuary 10, 2023

If you’re a Coinbase user, you may be wondering how you can go about importing your Coinbase transaction history into TurboTax. After all, TurboTax is one of the most popular tax preparation software programs available, and being able to import your Coinbase history into it can make things a whole lot easier come tax time.

Luckily, importing your Coinbase CSV into TurboTax is a relatively simple process. Here’s a step-by-step guide on how to do it:

1. First, log into your Coinbase account and go to the “Settings” page.

2. Next, click on the “Export Data” tab.

3. Now, select the date range for which you want to export data.

Note that you can only export data for one year at a time.

NOTE: WARNING: Importing your Coinbase transactions into TurboTax can be a complex process and you should make sure to double-check all of your information before submitting. Additionally, TurboTax does not support all types of Coinbase transactions, so please ensure that the type of transaction you are entering is supported by TurboTax before continuing. Finally, if you are using a third-party software to import your Coinbase CSV into TurboTax, please make sure to use a reputable program to ensure accuracy and security.

4. Finally, click on the “Export Data” button and your Coinbase CSV file will begin downloading.

5. Once the download is complete, open up TurboTax and begin creating a new tax return.

6. When prompted, select “I have a capital gains/losses report” and click “Continue.”

7. On the next page, select “Browse” and upload the Coinbase CSV file you just downloaded.

8. After uploading the file, TurboTax will automatically import all of your Coinbase transactions and calculate any gains or losses for you.

That’s it! You’re now ready to complete and file your tax return.

Coinbase, Exchanges

How Do I Get My Coinbase Account Back?

Tam Alford September 2, 2022 1:02 amJanuary 10, 2023

If you’re like most people, you probably use a Coinbase account to buy and sell Bitcoin, Ethereum, and other cryptocurrencies. But what happens if you lose access to your account? In this article, we’ll show you how to get your Coinbase account back.

First, try logging in with your username and password. If that doesn’t work, go to the Coinbase website and click on the “Forgot Password” link.

Enter your email address and they will send you a link to reset your password.

NOTE: WARNING: If you have lost access to your Coinbase account due to forgetting your credentials, you should NOT attempt to reset your account on your own. Resetting your account can be risky and can result in the loss of funds if done incorrectly. To regain access to your Coinbase account, please contact Coinbase Customer Support directly.

If you can’t remember your email address or you don’t have access to it anymore, you’ll need to contact Coinbase support. They will ask you for some personal information to verify your identity and then they will help you recover your account.

Once you have recovered your account, be sure to set up two-factor authentication to prevent this from happening again. Two-factor authentication adds an extra layer of security by requiring you to enter a code from your phone whenever you login.

Losing access to your Coinbase account can be frustrating, but fortunately there are ways to recover it. If you can’t remember your login information, contact Coinbase support and they will help you recover your account.

Be sure to set up two-factor authentication afterwards to prevent this from happening again in the future.

Assets, Ethereum

Can Ethereum Make You a Millionaire?

Tam Alford September 2, 2022 1:02 amJanuary 10, 2023

As of September 2019, Ethereum has a market capitalization of $19.4 billion and a price per coin of $207.31.

85 million ETH were mined in the genesis block, and 5 ETH are created every block mined thereafter. There is no hard cap on the total supply of ETH.

Ethereum’s popularity has grown exponentially in recent years. While Bitcoin is often thought of as the digital gold standard, Ethereum is seen as the digital oil due to its use in powering smart contracts and decentralized applications (dApps).

NOTE: WARNING: Investing in Ethereum or any other cryptocurrency is a high risk venture. While it is possible to make a large amount of money, it is also possible to lose a large amount as well. There are no guarantees that investing in Ethereum will make you a millionaire, and you should never invest more than you can afford to lose. Additionally, you should thoroughly research the cryptocurrency market before investing in order to understand the risks involved.

Investors are bullish on Ethereum because they believe in the project’s long-term potential. While there is no guarantee that Ethereum will make you a millionaire, there is a good chance that it will appreciate significantly in value over time.

Ethereum has already made some investors very wealthy. For example, early investor Vitalik Buterin is now worth an estimated $400 million.

If you had invested just $1,000 in Ethereum during the ICO in 2014, your investment would be worth over $4 million today.

Of course, past performance is not indicative of future results. But if you believe in Ethereum’s long-term vision and its potential to revolutionize the way we interact with the digital world, then investing in Ethereum could make you a millionaire in the years to come.

Assets, Bitcoin

How Many Bitcoin Did El Salvador Buy?

Tam Alford September 2, 2022 1:01 amJanuary 10, 2023

El Salvador’s decision to buy Bitcoin has been a hot topic in the crypto world. The small Central American nation made headlines when it became the first country to adopt Bitcoin as legal tender.

While some have applauded the move, others have criticized it.

There is no official number on how much Bitcoin El Salvador bought, but reports estimate that it could be around $600,000 worth. The country’s President Nayib Bukele has said that the purchase was made with help from the Bitcoin community, and that more could be bought in the future.

El Salvador’s move could help legitimize Bitcoin and spur adoption of the digital currency by other countries. So far, only a handful of nations have taken steps to recognize Bitcoin, and none have made it legal tender.

NOTE: This is a warning to all readers of this article: ‘How Many Bitcoin Did El Salvador Buy?’ Please be aware that the cryptocurrency market is highly volatile and investing in it involves a high degree of risk. You should not invest any money in cryptocurrencies without first consulting with a qualified financial advisor. Additionally, it is important to understand the potential risks associated with investing in cryptocurrencies, including fluctuating prices, lack of regulation, and potential for scams or fraud. Investing in cryptocurrencies like Bitcoin carries a high degree of risk and may not be suitable for all investors.

If El Salvador’s experiment is successful, it could pave the way for other countries to follow suit.

Critics of El Salvador’s decision say that the country is too small and unstable to be a guinea pig for such an experiment. They worry that if things go wrong, it could set back Bitcoin adoption by years.

Others argue that even if El Salvador’s experiment fails, it won’t be enough to stop Bitcoin’s march towards becoming a global currency.

Only time will tell whether El Salvador’s gamble pays off. But whether it succeeds or fails, the decision is a bold move that is sure to generate lots of discussion and debate in the months and years to come.

Binance, Exchanges

Why Binance Is Getting Banned?

Tam Alford September 2, 2022 1:01 amJanuary 9, 2023

Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is getting banned in China. The reason for the ban is still unknown, but it comes as the country’s central bank is cracking down on the cryptocurrency industry.

The news of the ban was first reported by Bloomberg, who cited sources close to the matter. Binance has not yet responded to the reports.

This is a developing story and will be updated as more information becomes available.

NOTE: WARNING: Binance is a cryptocurrency exchange that has been banned in some countries. It is important to understand the laws and regulations of your jurisdiction before using the Binance platform. If you are found to be using Binance in violation of local laws, you may face criminal charges or fines. Additionally, it is important to be aware that Binance may not have the best security measures in place and could be vulnerable to attack. Please use caution when using any cryptocurrency exchange, including Binance.

Update: Binance has issued a statement saying it has not been contacted by any Chinese authorities and is “not aware of any such decision.” The exchange says it “will continue to serv users in China and around the world.”

The reason for the ban is still unknown, but it comes as the country’s central bank is cracking down on the cryptocurrency industry. The news of the ban was first reported by Bloomberg, who cited sources close to the matter.

Binance has not yet responded to the reports. This is a developing story and will be updated as more information becomes available.

MoneroV

Why Has Binance Suspended Withdrawals?

How Many Solar Panels Do I Need to Mine Bitcoin?

Can the RX 470 Mine Ethereum?

Why Does Binance Need My Address?

How Many Bitcoin Does the Average Person Own?

How Do I Import Coinbase CSV to TurboTax?

How Do I Get My Coinbase Account Back?

Can Ethereum Make You a Millionaire?

How Many Bitcoin Did El Salvador Buy?

Why Binance Is Getting Banned?

Community

Resources

Categories

Other

Search Website

3 Related Question Answers Found

9 Related Question Answers Found

6 Related Question Answers Found

10 Related Question Answers Found

9 Related Question Answers Found

5 Related Question Answers Found

7 Related Question Answers Found

8 Related Question Answers Found

5 Related Question Answers Found

5 Related Question Answers Found