News Updates 01/20

News Updates 01/20

Happy Friday, miners!

How 'bout them Cowboys? More importantly, how 'bout them crypto markets?!? Bitcoin has consistently been at pre-FTX prices for about the past week. In the same vein, inflation has continued to decline with a CPI of 6.5% for December 2022. We’ll say it again, vibes are up! Here are a few highlights in crypto news:

  • Over $5bill of FTX funds have been recovered. Hopefully, there will be some restitution for the 9 million FTX customers sooner rather than later, but no one is holding their breath in this case.
  • Lowe’s is using blockchain technology and RFID chips to counter retail theft. Basically, RDIF chips are activated when purchased and a transparent record is made on the Ethereum network, enabling the item to turn on, or not turn on if it was stolen. Retail theft was a $94.5 billion problem in 2021. Data from 2022 hasn’t been published yet, but our bet is it went up, just a shot in the dark…
  • The Lunar New Year starts this Sunday, January 22: experience it here on the Metaverse, courtesy of McDonald's and Karen X Cheng. This marks a celebration in China for nearly two weeks, which impacts ordering and shipping; keep this in mind when considering miners.
  • Lastly and not entirely pertinent, but entertaining nonetheless: Bear markets make for bull markets in swearing at meetings. Last year set a record on expletives used in transcribed meetings. Can you imagine if Zoom meetings were transcribed? More than a few of us would be SOL (straight out of luck; come on, guys).

Keep mining, rain, or shine!

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