Category: Cryptocurrencies

New Zealand adopts OECD cryptocurrency reporting framework in new tax bill

In a significant move towards cryptocurrency regulation and transparency, New Zealand has announced the incorporation of the Organisation for Economic Co-operation and Development's (OECD) cryptoasset reporting framework into its new tax bill. This decision positions the country as one of the pioneers in the implementation of international regulations for the oversight of digital assets.

The OECD framework, known as CARF (Crypto-Asset Reporting Framework), is designed to ensure that cryptocurrency transactions and holdings are properly reported to tax authorities. This system aims to reduce the potential for tax evasion and promote greater transparency in a sector that, until now, has been largely unregulated.

The New Zealand government has stressed the importance of adopting these international regulations to maintain the integrity of its tax system and prevent the country from becoming a haven for illicit activities related to cryptoassets. In addition, the implementation of the CARF is expected to facilitate international tax cooperation and the exchange of information between authorities in different countries.

This new tax bill also includes measures to improve oversight of cryptocurrency exchange platforms, ensuring that they comply with reporting standards set by the OECD. New Zealand tax authorities will be able to request detailed information on cryptocurrency transactions and holdings from New Zealand residents, as well as from foreign platforms operating in New Zealand.

With the implementation of these measures, New Zealand joins a select group of countries that are rapidly adopting regulatory frameworks for cryptocurrencies, which could set a precedent for other nations looking to strengthen their fiscal policies in the face of the growing popularity of digital assets.

The new tax bill is currently being debated in Parliament, and is expected to come into force from next year, following final approval. The cryptocurrency community in New Zealand, while expressing some concerns about the additional administrative burden, recognises the need for clear regulation that promotes stability and confidence in the market.

This development marks an important milestone in the evolution of cryptocurrency regulation globally, and could influence how other countries approach the oversight of digital assets in the near future.

Follow all the news on minandovoy.com and don't miss a thing!

El Salvador's Bitcoin City: A Step Towards a Financial Future

In the heart of Central America, El Salvador has captured the world's attention by being the first country to adopt Bitcoin as legal tender. But this small country is not stopping there; it is taking its commitment to cryptocurrency to another level with the creation of Bitcoin City, an ambitious project that promises to revolutionise the economy and technology in the region.

What is Bitcoin City?

Bitcoin City is a visionary project announced by the president of El Salvador, Nayib Bukele, in November 2021. The city is being built at the base of the Conchagua volcano on the east coast of the country and is designed to be a global technology and financial hub. Powered by geothermal energy, Bitcoin City aims to be a self-sustainable community, where Bitcoin is not only used as a currency, but is the cornerstone of economic and social development.

A Futuristic and Sustainable Design

Bitcoin City is planned with a futuristic urban design, inspired by the shape of a coin, symbolising the revolutionary nature of the project. According to the government's projections, the city will feature residential, commercial and recreational areas, as well as schools, hospitals and other public services necessary for a modern community.

What makes Bitcoin City unique is its focus on sustainability. Being located near an active volcano, the city will harness geothermal energy to power its infrastructure, including Bitcoin mining farms. This initiative not only seeks to make Bitcoin a green currency, but also aims to make El Salvador a leader in renewable energy and clean technologies.

Fiscal Incentives and Investment Attraction

One of the most significant attractions of Bitcoin City is its proposed tax incentives. Residents and businesses in the city will not be subject to income, property or capital gains taxes, making it a very attractive destination for investors and entrepreneurs from around the world. Only a small value added tax (VAT) will be levied to finance the development of the city and its maintenance.

This pro-entrepreneurial approach is part of El Salvador's strategy to attract foreign investment and foster economic growth through the adoption of cryptocurrencies. With Bitcoin City, El Salvador seeks to position itself as a pioneer in the digital economy and a point of reference for other countries considering following a similar path.

Challenges and Opportunities

Although Bitcoin City is a bold and exciting project, it also faces several challenges. The volatility of the cryptocurrency market is one of the main risks, as fluctuations in the value of Bitcoin could impact the economic stability of the project. In addition, there are concerns about the country's capacity to handle a project of this magnitude, both in terms of infrastructure and governance.

However, the opportunities it offers are enormous. If successful, Bitcoin City could transform El Salvador into a global hub for technological and financial innovation. Moreover, it could serve as a model for other developing nations looking to use blockchain technology to drive their economic growth.

Conclusion

El Salvador Bitcoin City is more than just an economic experiment; it is a bold statement from a small but brave country that is willing to lead change in the global economy. While the risks are significant, the potential for innovation and progress that this project represents cannot be underestimated. As El Salvador moves forward in building this visionary city, the world will be watching closely, waiting to see if this dream becomes a transformative reality.

Don't miss the latest news from the crypto world at Minandovoy.

Generation Z and Millennials: The Pioneers of Cryptocurrency Investment.

Generation Z and Millennials are two groups that, despite their generational differences, share a growing interest in cryptocurrencies. While Generation X and Baby Boomers tend to be more cautious with traditional investments such as stocks and real estate, today's young adults are embracing the digital world with enthusiasm.

Why are these generations so interested in cryptocurrencies?

Native Technology: Both Millennials and Generation Z have grown up surrounded by technology. For them, the use of digital platforms is natural and they are more willing to adopt new technologies such as cryptocurrencies.
Distrust of traditional institutions: After experiencing global economic crises and seeing the limitations of the traditional financial system, many young people are looking for more decentralised and user-controlled alternatives.
Opportunity for growth: Cryptocurrencies represent a high-risk, high-reward opportunity. While volatile, they have also shown exponential growth potential that is attractive to those willing to take risks.
Accessibility: Unlike traditional investments, cryptocurrencies are available to anyone with an internet connection and a smartphone. They do not require large amounts of capital to get started, making them accessible to a younger audience.

In conclusion, Generation Z and Millennials are leading the way in cryptocurrency adoption. Their familiarity with technology, desire to find alternatives to traditional institutions and the accessibility of cryptocurrencies make them the generations most willing to explore and invest in this new digital world.

Don't miss any news in Minandovoy.com

Colombia: Joining Forces to Define the Legal Framework for Cryptocurrencies

At a crucial moment for the crypto ecosystem, Colombia is taking significant steps towards the regulation of cryptocurrencies. Recently, it was announced that several banks and regulators in the country are joining forces to work on the creation of a legal framework to regulate the use and operation of cryptocurrencies in the country. This initiative seeks to provide clarity and security to both users and financial institutions.

The Context of Crypto Regulation in Colombia

Over the last few years, the rise of cryptocurrencies has captured the attention of Colombians, becoming an interesting alternative for investment and transactions. However, the lack of a clear regulatory framework had generated uncertainty and risks for both investors and financial institutions. Against this backdrop, the government and regulators have understood the need to establish guidelines that favour a safe and regulated environment.

Collaboration between banks and regulators

The coming together of banks and regulatory institutions marks a milestone on the road to creating a sound legal framework. This joint effort includes entities such as the Superintendencia Financiera de Colombia (SFC), the Banco de la República and several major banking institutions. The aim is to develop regulations that not only regulate transactions and the use of cryptocurrencies, but also promote innovation in the financial sector.

Objectives of the New Legal Framework

The new legal framework that is in the making has several key objectives:

Consumer ProtectionEnsure that cryptocurrency users are protected against fraud and scams by establishing accountability mechanisms for cryptocurrency platforms.
Money Laundering PreventionImplement measures to track and regulate cryptocurrency transactions, helping to prevent illegal activities related to money laundering and terrorist financing.
Promoting InnovationTo create an environment that favours the development of innovative financial solutions based on blockchain and cryptocurrencies, enabling Colombia to position itself as a benchmark in the adoption of financial technology.
Regulatory ClarityEstablish a clear framework to enable businesses and citizens to understand their rights and obligations in relation to the use of cryptocurrencies.

An Opportunity for the Future

This joint effort is not only vital for the security of the crypto ecosystem in Colombia, but also represents an opportunity for economic growth and financial inclusion. With proper regulation, it is likely that more Colombians will be attracted to the use of cryptocurrencies, which could result in increased investment and innovation in the country.

As these efforts develop, it is important that both market players and citizens maintain an active dialogue with regulators. The participation of the crypto community in this process will be essential to ensure that the legal framework is not only effective, but also aligns with the needs and expectations of users.

Conclusion

Colombia is on a path that promises to take the country into a new era of interaction with cryptocurrencies. The coming together of banks and regulators is a positive sign that the country is ready to face the challenges and opportunities presented by cryptocurrencies. As regulations are defined, staying informed and participating in the dialogue will be key for all stakeholders in this emerging space.

Stay tuned for our next publications at Minandovoy to follow the development of this important initiative!

IceRiver launches new AL0 miner for Alephium, what about KS0 for Kaspa?

The renowned brand Ice River is proud to announce the launch of its latest product, the AL0. This new device is an adapted version of their successful KS0 model, designed specifically for the mining of Alephium (ALPH). The AL0 promises to revolutionise cryptocurrency mining with its impressive capabilities and efficiency.

AL0 miner characteristics

The AL0 retains the same technical specifications as the AL0. KS0The power consumption is 100W, with a mining power of 400 GH/s. However, its Alephium-optimised design allows it to generate significantly higher revenues. With a daily mining capacity of approximately $22 in Alephium, the AL0 can generate up to $600 per month, compared to the $1.20 per day or $35 per month that the KS0 generates mining KaspaThe same amount of energy is consumed and the same Gigahertz power is delivered.

What is Alephium (ALPH)?

Alephium is a fully functioning layer one blockchain with sharding, designed to address the scalability, accessibility and security challenges faced by today's blockchains. It is an ideal platform for both developers looking to build scalable decentralised applications (DApps) and individuals interested in decentralisation and security.

Alephium's innovative technologies

ScalabilityBlockFlow: Uses the BlockFlow fragmentation algorithm to improve scalability, allowing parallel transactions and achieving around 10,000 transactions per second.
Energy efficiencyProof-of-Less-Work (PoLW) consensus mechanism that adjusts the mining difficulty in real time, significantly reducing energy consumption compared to other Proof-of-Work (PoW) algorithms.
Programmability and securityUnspent Transaction Output (UTXO): By applying the Unspent Transaction Output (UTXO) model, Alephium improves the security and efficiency of transactions.
Virtual machine and programming languageIt has its own virtual machine and a programming language optimised for smart contracts, providing superior security and performance.

More about the Alephium project

Alephium is designed to solve some of the most pressing problems of traditional blockchains, such as scalability and security. The blockchain uses an innovative model that combines UTXO with sharding, enabling efficient and fast transaction processing. This structure facilitates the creation of decentralised applications and smart contracts that are both scalable and secure.

Proof-of-Less-Work (PoLW) is a significant advancement in the field of cryptocurrency mining, as it adjusts the mining difficulty based on real-time network conditions, resulting in much lower power consumption without sacrificing security or performance. This makes Alephium an attractive option not only for DApp developers but also for miners looking for a more sustainable and efficient solution.

Alephium also stands out for its commitment to energy efficiency and sustainability. The use of PoLW and the sharding structure make Alephium more efficient than many other blockchains that rely on traditional Proof-of-Work. In addition, the combination of UTXO with sharding allows Alephium to handle a high volume of transactions efficiently, ensuring both speed and security of transactions.

With these innovative features, Alephium provides a blockchain platform that is not only scalable and secure, but also energy efficient, opening up new possibilities for the development of robust and reliable decentralised applications.

The Antminer DR7 adventure: a risky gamble or a golden opportunity?

In the dynamic world of cryptocurrency mining, Bitmainthe renowned technology company, has launched a new miner on the market. ASICthe Antminer DR7. This miner, designed to extract the cryptocurrency SC Primehas generated a lot of excitement among mining enthusiasts. However, before embarking on this adventure, it is crucial to take an in-depth look at the features, risks and potential benefits offered by the Antminer DR7.

A change of direction: SC Prime and its new algorithm

A key defining aspect of the Antminer DR7 is its focus on mining SC Prime, a cryptocurrency that has undergone a recent change in its mining algorithm from Blake2b to Blake256 R14. This modification has generated some confusion among potential buyers, as the miner was initially associated with mining Siacoin (SC). It is important to note that this information is erroneous and the Antminer DR7 is not designed to mine SC.

Risk and speculation: Is it worth the gamble?

The SC Prime market, while showing growth potential, is still relatively small and liquidity is limited. This means that selling mined cryptocurrencies could be complex and their value could fluctuate significantly.

Uncertain returns: A difficult calculation

The profitability of Antminer DR7 is a complex aspect to determine accurately. The recent change in the mining algorithm, coupled with the lack of historical data and market volatility, make it difficult to make accurate calculations of long-term profitability.

Attractive price, but with caution

The starting price of the Antminer DR7, is €2200. While this figure may seem attractive, it is crucial to remember that this is a significant initial investment. It is essential to carefully assess the risks and potential returns before making such an investment.

Potential opportunities for the Antminer DR7

Despite the above risks, the Antminer DR7 also presents some potential opportunities:

Potential growth of SC Prime: If the SC Prime ecosystem experiences significant growth in the future, mining demand could increase, which could benefit Antminer DR7 owners.
Low initial competence: As a relatively new miner specialising in a specific algorithm, the Antminer DR7 may face less initial competition compared to other ASIC miners.
Possibility of revaluation: If the value of SC Prime increases significantly in the future, the value of the Antminer DR7 could also increase, even if its mining profitability decreases.

Is Kaspa's price predictable? Power Law

In the vast and dynamic universe of cryptocurrencies, Kaspa is emerging as a significant contender. Unlike many alternative currencies, Kaspa has a distinguishing feature: its price follows a power law, similar to Bitcoin. Launched in late 2021, Kaspa shares many similarities with Bitcoin, including its Proof-of-Work mechanism and a fair launch. However, its unique advantage lies in its ability to handle a much higher transaction speed, achieved by using a blockDAG (directed acyclic graph) instead of a traditional blockchain.

The academic paper "Phantom GhostDAG: a scalable generalisation of the Nakamoto Consensus" explores the innovations behind Kaspa. This system allows for a transaction speed limit that will ultimately be approximately three orders of magnitude higher than that of Bitcoin. In essence, Kaspa is an evolution of the Bitcoin model, maintaining the principles of security and decentralisation, but with significant improvements in scalability.

One of the most intriguing features of Kaspa is its price, which follows a power law. Figure 4 of the article shows Kaspa's price with its power-law trend lines on various charts, including linear, log-linear and log-log. This behaviour is remarkably rare in the crypto world, where most altcoins do not exhibit such clear and consistent growth patterns. Based on current trends, Kaspa's price could reach $1 between mid-2026 and late 2027, and $10 between 2034 and 2036. At the time of writing, Kaspa is trading at $0.13, underlining its significant growth potential.

Kaspa is also distinguished by its focus on storage efficiency and traceability. Kaspa's normal nodes keep the transaction history for only three days, although the complete UTXO database is retained. To ensure traceability and proof of fairness, there is a collection of archive nodes that maintain the complete blockDAG and transaction history back to its genesis.

The name "Kaspa" comes from an ancient Aramaic word for silver, reflecting its intended purpose as a medium of exchange, similar to the historical role of silver, rather than in direct competition with Bitcoin as a digital store of value. This positions Kaspa not only as a technical innovation, but also as a practical proposition for everyday use in transactions.

The Bitcoin Power Law

The concept that Bitcoin's price follows a power law was initially observed by a user under the pseudonym Trololololo. Giovanni Santostasi was the one who actually identified this law, and HCburger helped popularise it, although it never received the attention of other models such as PlanB's famous stock-to-flow. Recently, the power law model has resurfaced on popular YouTube channels such as those of Andrei Jikh and Peter McCormack.

The power law is a mathematical function that maps input (x) values to output (y) values in the form y=x^k, where k is a constant. This formula can be represented in linear, log-linear and log-log graphs, the latter being particularly useful for visualising data that follows a power law. In the case of the Bitcoin price, log-log graphs show that it follows a linear trajectory, indicating that it is following a power law.

The Convergence of Price Trends

A fascinating aspect of the power law applied to Bitcoin is the convergence of its upper and lower trend lines. These trend lines indicate that, in the long term, Bitcoin's price could stabilise as the time approaches when the last Bitcoin will be mined, around the year 2140. This phenomenon suggests a decrease in Bitcoin's volatility as it matures as a financial asset.

Kaspa and Bitcoin: A Comparison of Volatility and Adoption

While Bitcoin has established its place as the leading cryptocurrency, Kaspa is proving to be a viable alternative with its own growth path. Bitcoin's adoption is influenced by its halving cycle, which reduces the mining reward every four years, affecting supply and, consequently, price. Kaspa, on the other hand, reduces its supply more gradually, which could result in lower volatility in the long run.

Bitcoin's price channel width remains wide due to its high volatility, mainly driven by its halving cycle. In comparison, Kaspa shows a narrower price channel width, indicating lower volatility and more stable growth.

Conclusion

Kaspa and Bitcoin represent two distinct approaches in the world of cryptocurrencies, both following a power law but with different trajectories and characteristics. While Bitcoin remains a digital store of value with high volatility cycles, Kaspa is positioned as a medium of exchange with greater transaction capacity and more predictable growth. As the cryptocurrency market evolves, it will be interesting to observe how these two adoption and growth models influence the future of digital finance.

New release! Meet the DragonBall Miner: Power and Efficiency for Kaspa mining!

The world of cryptocurrency mining is constantly evolving, and each new piece of equipment that comes to market promises to revolutionise the way we mine cryptocurrencies. Today, we are pleased to announce an exciting addition to this industry on DragonBall Minera miner specifically designed to Kaspa (KAS) that combines power and efficiency in an impressive way.

DragonBall Miner Technical Specifications:

The DragonBall Miner stands out for its impressive technical specifications, which position it as an attractive option for serious miners. Here are the key details:

– Hash rate: 10.5 TH/s

– Power consumption: 3400W

– Energy efficiency: Approximately 0.324 J/GH

These figures are indicative of a highly efficient device, capable of delivering robust performance without compromising on power consumption.

What is Kaspa?

For those unfamiliar, Kaspa is a cryptocurrency based on a Proof-of-Work (PoW) consensus protocol, known for its high performance and scalability. Kaspa uses a directed acyclic graph (DAG) instead of the traditional blockchain, which allows for higher transaction speed and lower latency.

Advantages of DragonBall Miner:

1. High hash rate: At 10.5 TH/s, the DragonBall Miner is among the most powerful devices for mining Kaspa, allowing miners to maximise their rewards.

2. Energy efficiency: With a power consumption of 3400W, the DragonBall Miner is surprisingly efficient for its performance level. This translates into lower operating costs and a reduced carbon footprint, crucial in modern mining.

3. Robust and durable design: Constructed with high quality materials, the DragonBall Miner is designed to operate continuously and stably, minimising downtime and maintenance costs.

Considerations for miners:

When considering the purchase of a new miner, it is essential to evaluate both the initial cost of the equipment and the long-term operating costs. The DragonBall Miner, with its high efficiency and powerful hash rate, can offer a quick return on investment, especially in the context of a rising cryptocurrency market.

In addition, it is critical to consider the configuration of the mining environment, including proper ventilation and thermal management, given the considerable power consumption of the device.

The launch of the DragonBall Miner marks a milestone in Kaspa mining, offering miners a powerful and efficient tool to maximise their operations. With its advanced technology and durability-focused design, the DragonBall Miner is poised to become a favourite among the cryptocurrency community.

If you're looking to take your mining operation to the next level, the DragonBall Miner could be the perfect addition to your arsenal. Stay tuned for more updates and reviews on Minandovoy!

1037 per day? New Antminer AL3 from Alephium.

Imagine stepping into an ultra-modern operating theatre, where technology merges with power to create an awe-inspiring machine. That's where the Antminer AL3 from Bitmainthe latest and greatest breakthrough in cryptocurrency mining.

With an impressive appearance and robust construction, the Antminer AL3 stands as a masterpiece of engineering. This is not just a device, it is a tool designed to make Alephium mining history.

Compared to its closest competitors, such as Goldshell's AL-BOX, the Antminer AL3 shines with 22 times the performance, setting a new industry standard!

What makes the Antminer AL3 even more amazing is its incredible profitability in mining Alephium. Thanks to the ease with which Alephium can be mined, this powerful device can generate an impressive $1037.93 per day as of today. That's a figure that far exceeds expectations and makes the Antminer AL3 a highly lucrative option for cryptocurrency miners.

But the real magic of the Antminer AL3 lies within. With a specialised hashing algorithm for Alephium (ALPH), this device has the power to achieve an impressive hashrate of 8 TH/s. Imagine millions of calculations per second, all contained within this compact but formidable machine. But that's not all, what's more exciting is its intuitive user interface, which provides complete control over mining operations. From monitoring the hash rate to controlling temperature and energy efficiency in real time, the Antminer AL3 ensures that your operation is optimised for the best results. What's amazing is that this phenomenal performance doesn't come at the expense of efficiency. Despite its incredible power, the Antminer AL3 is surprisingly efficient in terms of

power consumption, using only 3200W to power its mining engine.

In short, the Antminer AL3 is not just a mining machine; it is a masterpiece of modern engineering. With its unrivalled power, flawless efficiency and robust design, it represents the future of cryptocurrency mining and sets a new standard for excellence in the field.

MinandoVoy Presents its Cutting-Edge Electric Hosting and Exclusive Interviews in Collaboration with Adrian Sáez

In an exciting event that fuses technological innovation with practical experience, MinandoVoy is proud to present its electric hosting in Dubaialong with a special collaboration with the well-known Youtuber Adrian Sáez.

Our electrical hosting represents the culmination of excellence in cryptocurrency mining in Spain. We offer a complete solution with competitive rates for $0.075 kWh, affordable installation and maintenance, and unrivalled security thanks to our 24/7 alarm and video surveillance system. With a flexible 12-month contract and no additional fees, we provide transparency and reliability to our customers.

So that all of the above does not end up in a void Adrian Sáez will guide us through every part of our farm, highlighting the benefits and features that make it a leading option for cryptocurrency mining in Spain. From installation to energy efficiency and mining profitability.

In addition, our CEO will present a detailed description of the different types of machines that our hosting can host, aimed at all types of investors, from the most novice to the most experienced. On the other hand, one of our most experienced customers in the field will share his medium and long-term impressions on the benefits of electric hosting for mining, offering a unique perspective on this type of investment.

Save the Date!

The video will be launched on 7 May at 19:00 UK time. Join us as we explore the exciting possibilities offered by our electric hosting and discover why it is the number one choice for cryptocurrency miners in Spain.

Get ready for an informative and inspiring experience with MinandoVoy and Adrian Sáez!