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Elon Musk: Tesla Would Resume Accepting Bitcoin, Most Likely

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Elon Musk and Jack Dorsey finally had their face-to-face talk about Bitcoin at “The B Word” event today. Joined by Cathie Wood and moderated by Steve Lee, their long-awaited talk was largely bullish all around – including on Bitcoins energy use, which Elon says he is now more optimistic about.

  • The three began by citing what got them interested in Bitcoin. Elon saw it as an improvement to the “information system” that supports the economy as a whole
  • On Scalability, Musk admits that while he would like to consider greater block sizes for Bitcoin, he believes that a well-implemented second layer, such as lightning, will allow it to scale so that it becomes the currency of the world.
  • Moving on to energy use, Elon re-explained the initial reason why Tesla stopped accepting purchases in Bitcoin, referencing an increasing use of fossil fuels.
  • However, he now says Bitcoin mining is moving towards majority renewable energy, due to many coal plants now shutting down in China. He’d like to do more diligence to confirm that energy use is at or above 50% renewable and establish that this trend is continued, but he says he will most likely resume Bitcoin purchases for Tesla now.

“I do believe that long term, renewable energy will actually be the cheapest form of energy, but it just doesn’t happen overnight. But as long as there is a long-term trend toward the use of renewable energy by the community, Tesla can support that.” according to Elon Musk.

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Source: https://cryptopotato.com/elon-musk-tesla-would-resume-accepting-bitcoin-most-likely/

Blockchain

Solana Announces Exclusive Hackathon for Indian Developers

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To support the Indian blockchain development ecosystem, Solana, a high-performance blockchain network, has revealed that it will be rolling out a new hackathon exclusively for Indian developers and entrepreneurs.

Solana Unveils Hackathon with Over $80k in Prizes 

In a tweet on Tuesday, Solana noted that the hackathon, dubbed “Building Out Loud,” will last for 3 weeks and registration for it is open to students, Web2 and Web 3 developers, engineers, and basically anyone who is looking to get into the crypto space.

The hackathon will be organized in collaboration with Superpumped and Devfolio, two tech firms that have helped host thousands of hackathons across the globe.

Participants will have the opportunity to win prizes from a pool containing more than $80,000, be able to launch a global product starting from the first day of the hackathon and raise capital from a list of prominent investors.

There are also several special prizes from the Solana Foundation, Lightspeed Ventures, Balaji Srinivasan, CRED, Kunal Kapoor, Superpumped, Serum, and many more.


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Envisioning One of India’s Largest Social Hackathons

In a statement, Solana disclosed that it is aiming to make the “Building Out Loud” event one of the largest social hackathons India has ever experienced.

The project intends to keep growing its ecosystem by using hackathons as a tool for growth, bringing the crypto industry to more mainstream users.

The “Building Out Loud” hackathon is aimed at becoming a social movement for the young generation of entrepreneurs that are searching for new opportunities to launch a global product and raise capital from prominent global investors.  

The three top winners of the hackathon will receive cash prizes of $10,000, $7,000, and $5,000, respectively, among other special incentives. Registration for the hackathon is currently ongoing and is set to last until August 12, 2021.

Not the First for Solana

Just last month, Solana announced the winners of its Solana Season Hackathon competition, a $1 million initiative that was established to support new projects on the Solana blockchain.

It selected about 39 winners out of the 13,000 participants and more than 350 projects that it received in the competition from across the globe. 

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Source: https://cryptopotato.com/solana-announces-exclusive-hackathon-for-indian-developers/

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Blockchain

iM Intelligent Mining Taps Roy Phillips as Advisor to Advance Green Mining Efficiency

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[PR – Las Vegas, Nevada, 27th July, 2021]

iM Intelligent Mining (iM), a provider of environmentally responsible energy solutions for powering cryptocurrency mining operations, is delighted to welcome energy veteran Roy Phillips to join its Board of Advisors.

Roy is the founder and CEO of REP Energy, a photovoltaic solar project developer that works with investors and private parties to maximize the opportunities available in the renewable energy business.

With over three decades of experience, Roy’s industry insights will be invaluable as iM continue to shape the landscape of large scale blockchain mining operations.

Roy’s experience has been focused on accelerating the clean energy transition. His previous roles include advising governments, utilities and others across North America in the areas of energy efficiency, renewable energy, and clean mobility.

With rising worries over huge electricity usage in blockchain, the mining sector has recently been facing increasing public scrutiny. iM has come up with a graceful solution that completely shifts the blockchain mining model by establishing autonomous, solar-powered rigs built in the desert and owned by a decentralized network of iM token holders.

iM Intelligent Mining solves the industry pain points around power consumption, environmental damage, centralized block-mining operations, blockchain network scaling, and high barriers to entry for individuals and developing countries.

Short term goals in iM’s roadmap are to establish the first mining farm and build a DApp. Ownership is represented by the iM token, whose holders retain fractional ownership of autonomous mining farms and take 60% of operations’ profit. The utility token also provides staking rewards to the holder over time and can be used to stake in exchanges and liquidity pools.

In addition to mining rewards distributed to the community members, 9% of iM’s profit goes towards community operations, 30% are reinvested, while 1% goes to the iM non-profit, dedicated to further developing hardware, software, and infrastructure efficiencies.

Comment – Roy Phillips

In addition to leading his firm, Roy Phillips contributes to public policy through his involvement on several volunteer boards and committees. He will leverage his energy technology expertise and industry knowledge to provide guidance and direction to iM’s executive team through its continued growth and development as a blockchain mining optimization leader.

iM’s sustainable decentralized solution, the IM Green Protocol, provides an investment structure that begins with solar energy production. It aims to power the blockchain future while protecting the environment and maintaining the economic viability of the industry.

iM’s adoption of green energy will eventually provide the blockchain activity with free electricity and allow all miners/investors to have a hand in energy production.

Crypto-mining activity takes up an enormous amount of energy as permissionless blockchains rely on proof of work to process transactions and ensure network security. Aside from its environmental impact, energy is the main operational cost for miners, and there is fierce competition to come across the cheapest sources of power.

iM’s highly efficient and streamlined operation is built at scale, making its low-cost renewable electricity solution a more attractive option than personalized rigs.

About iM Intelligent Mining

iM Intelligent Mining is a decentralized blockchain mining operation that employs the use of autonomous, solar-powered mining rigs to provide free electricity to the blockchain. iM token holders enjoy the benefits of owning both a solar panel farm and a mining rig without the complications of building it themselves. Advanced cooling technology, bulk purchase of equipment, and streamlined operations maximize profits and provide revenue for maintaining equipment and reinvesting in growth.

Contact/Socials

iM Intelligent Mining Website: https://im.farm/

iM Intelligent Mining on Twitter

iM Intelligent Mining on YouTube

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Source: https://cryptopotato.com/im-intelligent-mining-taps-roy-phillips-as-advisor-to-advance-green-mining-efficiency/

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Blockchain

iM Intelligent Mining Taps Roy Phillips as Advisor to Advance Green Mining Efficiency

Published

on

[PR – Las Vegas, Nevada, 27th July, 2021]

iM Intelligent Mining (iM), a provider of environmentally responsible energy solutions for powering cryptocurrency mining operations, is delighted to welcome energy veteran Roy Phillips to join its Board of Advisors.

Roy is the founder and CEO of REP Energy, a photovoltaic solar project developer that works with investors and private parties to maximize the opportunities available in the renewable energy business.

With over three decades of experience, Roy’s industry insights will be invaluable as iM continue to shape the landscape of large scale blockchain mining operations.

Roy’s experience has been focused on accelerating the clean energy transition. His previous roles include advising governments, utilities and others across North America in the areas of energy efficiency, renewable energy, and clean mobility.

With rising worries over huge electricity usage in blockchain, the mining sector has recently been facing increasing public scrutiny. iM has come up with a graceful solution that completely shifts the blockchain mining model by establishing autonomous, solar-powered rigs built in the desert and owned by a decentralized network of iM token holders.

iM Intelligent Mining solves the industry pain points around power consumption, environmental damage, centralized block-mining operations, blockchain network scaling, and high barriers to entry for individuals and developing countries.

Short term goals in iM’s roadmap are to establish the first mining farm and build a DApp. Ownership is represented by the iM token, whose holders retain fractional ownership of autonomous mining farms and take 60% of operations’ profit. The utility token also provides staking rewards to the holder over time and can be used to stake in exchanges and liquidity pools.

In addition to mining rewards distributed to the community members, 9% of iM’s profit goes towards community operations, 30% are reinvested, while 1% goes to the iM non-profit, dedicated to further developing hardware, software, and infrastructure efficiencies.

Comment – Roy Phillips

In addition to leading his firm, Roy Phillips contributes to public policy through his involvement on several volunteer boards and committees. He will leverage his energy technology expertise and industry knowledge to provide guidance and direction to iM’s executive team through its continued growth and development as a blockchain mining optimization leader.

iM’s sustainable decentralized solution, the IM Green Protocol, provides an investment structure that begins with solar energy production. It aims to power the blockchain future while protecting the environment and maintaining the economic viability of the industry.

iM’s adoption of green energy will eventually provide the blockchain activity with free electricity and allow all miners/investors to have a hand in energy production.

Crypto-mining activity takes up an enormous amount of energy as permissionless blockchains rely on proof of work to process transactions and ensure network security. Aside from its environmental impact, energy is the main operational cost for miners, and there is fierce competition to come across the cheapest sources of power.

iM’s highly efficient and streamlined operation is built at scale, making its low-cost renewable electricity solution a more attractive option than personalized rigs.

About iM Intelligent Mining

iM Intelligent Mining is a decentralized blockchain mining operation that employs the use of autonomous, solar-powered mining rigs to provide free electricity to the blockchain. iM token holders enjoy the benefits of owning both a solar panel farm and a mining rig without the complications of building it themselves. Advanced cooling technology, bulk purchase of equipment, and streamlined operations maximize profits and provide revenue for maintaining equipment and reinvesting in growth.

Contact/Socials

iM Intelligent Mining Website: https://im.farm/

iM Intelligent Mining on Twitter

iM Intelligent Mining on YouTube

SPECIAL OFFER (Sponsored)

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PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.


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Click here to access.

Source: https://cryptopotato.com/im-intelligent-mining-taps-roy-phillips-as-advisor-to-advance-green-mining-efficiency/

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