Project News & Updates
From CoinDesk:
First Mover: Bitcoin’s 2020 Rally Sends Message to Capitalists as Despair on Wall Street Grows
“Bitcoin’s rally last week as the Standard & Poor’s 500 Index of U.S. stocks floundered served to underscore just how different the conversations are right now in digital asset markets and traditional finance.”
Gabor Gubacs of VanEck presents this well-worded and data-based assessment of the still-emerging new investable digital asset class that bitcoin provides. Comparing bitcoin to markets and investment portfolio elements and supporting with graphs and tables, one can see the value bitcoin has yielded historically. Follow the link below for the online article, and full presentation:
Salcido Enterprises was featured in The Full Port Press as a data pioneer who “continues to grow and create opportunities for the region.”
“We’re attracting cutting edge companies from around the world and bringing opportunities to the region.”
While the company and industry grow together, Malachi Salcido is grateful to live and work in his hometown, and make an impact locally and globally while doing so. Click to read the rest of the article.
The law of supply & demand unfold quickly in the race for access to energy to power cryptocurrency operations. Across North America, we see it again and again—crypto-mining prospects discover a utility with low rates and excess power capacity. A rush then follows, with hundreds of requests for megawatts of power. But in this case, instead of a price hike in response to increased demand, we see a different outcome—a moratorium, while the suppliers work out a sustainable plan, and cost structure, for the future—then the moratorium lifts, to find that the demand has shifted.
In many cases, with the utilities hold responsibility for (and extend low rates to) their existing customers. If all the requests for crypto-currency power were granted, even at a higher rate, it would quickly exceed the production capacity of the utility.
Stephanie Tsao, Kelly Andrejasich and Andrew Coffman Smith report on how this is playing out across North America in the article “Utilities see risks, rewards in cryptocurrency power demand” for S&P Global Market Intelligence.
WIRED reports on Rockdale, TX’s dance with bitcoin mining as the industry swings through its love-and-leave ups and downs, in the article “The Hard-Luck Texas Town that Bet on Bitcoin—and Lost”. As the volatility of the market leaves some boasting profits and others going bankrupt, some hope it can revitalize their town. WIRED reached out to Salcido Enterprises president Malachi Salcido for comment, and quotes him in the article.
Flexa announced today that bitcoin and other digital currencies will be able to be used widely at prominent retailers (such as Whole Foods, Home Depot, Lowe’s, Nordstrom, Crate & Barrel, Regal Cinemas, Gamestop, Baskin Robbins, Petco, Lowe’s, Office Depot and Starbucks), through its new secure digital payment app.
Through integrating with services that support digital wallets such as Apple Pay, the service pays in real-time, current-value currency, making checkout a seamless process.
FORTUNE reports on the move – read the full article here.
“Appearing on the Joe Rogan Experience podcast, Twitter and Square CEO Jack Dorsey stated that the Internet will eventually have a currency, which he thinks will likely be Bitcoin,” Bitcoinist reports.
Citing the consistency of value independent of political borders and philosophies, among other attributes, Dorsey compares the internet to a country that would have its own universally-accepted currency.
Banks and investors continue to share differing opinions and reviews. For more, read the rest of the article.
As the bitcoin market dropped in November, hundreds of thousands of miners left the market and shut down their servers, in a logical reaction to the sharp decline in BTC value. But the change in value is just one change among many in the industry, the combination of which is leading to great opportunity for committed mining companies, and potential opportunities for even small-scale miners, as the story develops. Coin Central has more details:
“We are entering in the phase when there’s a flushing out of the market. There will be relatively few operations that come out the other side.”
As cryptocurrencies trend downward across the board this week, analysts and speculators weigh in with their opinions on what might happen with the cryptocurrency market. Despite the downturn, many remain optimistic about the industry. Canaan Creative announced deep discounts on their AvalonMiner 921 in a celebratory move to “reschedule ‘Black Friday.’”
Having weathered other market crashes, Salcido projects: “I expect where we are at to possibly get a little worse before it gets better … Like all market bottoms, smart money is watching for the turn, that doesn’t happen usually quickly. It wouldn’t surprise me if the bottom is finally in February.”
“One of the consequences of the recent rout in Bitcoin is well underway. And it’s likely to have a profound effect on the leading cryptocurrency.”
With 100,000+ individual miners, and an estimated 1.4M servers, shutting down, the market is experiencing significant consolidation. Malachi Salcido remarks, “We are entering in the phase when there’s a flushing out of the market … There will be relatively few operations that come out the other side.”
Read the full article to find out what this could mean – the good and the bad – for those who continue to trade in Bitcoin.
