It's time for a short review of today's most important news from the crypto-world! π
π Tim Draper: "Cryptocurrencies and Libra are a bridge to the Bitcoin world"
In an interview with CNBC, Tim Draper, a well-known Bitcoin supporter, defended both Libra and Bitcoin against recent pressure from governments, particularly in the United States.
Asked if the world is now in a post-Bitcoin environment, he said that Bitcoin represents a real innovation from the crypto-world and in the end, will be a tool that will change the shape of borders, finance and governments authority.
Draper, wearing his already cult Bitcoin tie, added that the American regulators were too strict in dealing with innovations in Bitcoin, Blockchain and their related fields.
About Libra, he said there was no need to demand regulatory guarantees before launching a product.
π Coinbase is planning to go beyond trading
Brian Armstrong, CEO of America's largest exchange platform Coinbase, believes that in five years the company will be less involved in trade and more in adaptation.
During the AMA session, Armstrong told about his vision of the company, claiming that he sees Coinbase not only as a crypto-service provider but rather as a more universal provider of cryptographic adaptation.
Armstrong underlined Coinbase's mission to help develop a global cryptographic economy by connecting people in the market and developing a cryptographic community to help people use cryptocurrencies to do more than just buy and sell. In this context, Armstrong mentioned a few recent Coinbase projects, such as the Coinbase Earn, and the preparation for the fast launch of crypto-loans and trading on Coinbase.
π Iran sets energy rates for miners!
According to reports from the Iranian economic magazine Financial Tribune, Iran's Economic Commission has finalized a tariff plan for crypto-miners.
According to the publication, Energy Minister Homayoon Ha'eri announced that although the tariff system had been completed, it is waiting for the approval of the Iranian cabinet, a government agency made up of various ministers and other officials elected by the president.
While Hari did not develop a precise price chart, he said that the price depended on market factors, such as the price of fuel in the Persian Gulf.
The head of the Syndicate of the Electric Industry in Iran, Ali Bakhshi, had previously proposed a price of $0.07 per kilowatt-hour for miners. Electricity in Iran is currently very cheap due to government subsidies; one-kilowatt-hour of electricity is currently costing $0.05 and energy is cheaper in the agro-industrial sector.
To put these prices in context, Mostafa Rajabi Mashhadi, a spokesman for the Ministry of Energy in the Department of Energy, stated earlier that the production of a single Bitcoin consumes about $1,400 in state subsidies. The Financial Tribune reports that the extraction of one Bitcoin is consume as much energy as 24 buildings in Tehran in one year.
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We are currently witnessing small drops on the markets. Looking at the top ten, Bitcoin is down by 1.5%, Ethereum by 2.4%, XRP by 1.9%, Litecoin by 4.2% and Bitcoin Cash by 2.7%.
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