2023-11-20

🚀 Bitcoin Hash Rate Skyrockets!

November 20, 2023

Howdy Folks,So, I'm interested... what do you do when you're not watching the crypto charts?

Let's dive in!

🤝 Mastercard Partners with Feedzai
💪 Record Hash Rate Achieved
🚪 Crisis in SocialFi Platform

🔒 Mastercard's AI Fight Against Crypto Fraud

Like a tech-savvy guardian, Mastercard is teaming up with AI firm Feedzai to bolster defenses against crypto fraud. 🚨

Today (Monday 20th Nov), they have unveiled their strategy to merge technologies, aiming to preemptively thwart bank-to-crypto scams.

This alliance integrates Mastercard’s CipherTrace Armada, a tool scrutinizing over 6,000 crypto exchanges, directly into Feedzai’s system, enabling quicker detection of shady transactions. 🕵️‍♂️💻When Web2 giants come into Web3, they bring the experience needed for mass adoption.Ajay Bhalla of Mastercard highlights their goal to shield customers from scams before they strike, enhancing trust and security in the crypto landscape.

Leveraging Feedzai’s RiskOps platform, which monitors a staggering $1.7 trillion in transactions, Mastercard is poised to make crypto dealings as safe as a fortress, discerning friend from foe in the digital finance realm. 🏰💵With tools like this behind us, the next bull run will hopefully be a safer place to be.

📈 Bitcoin Network's Unprecedented Strength

Like a digital Hercules flexing its muscles, the Bitcoin network has smashed records, achieving a monumental hash rate of 551 exahashes per second (EH/s). 🚀

This surge in computational power, a testament to the network's growing popularity and security, is setting the stage for its sixth straight difficulty increase.

Midway through the current epoch, with a difficulty adjustment due on November 26, the Bitcoin network is like a marathon runner setting a world record pace.Take that Kelvin Kiptum!!The expected 3.77% uptick in difficulty level isn't just a number; it's a beacon of the network's resilience and expansion. 🏃‍♂️📊

This interplay between soaring hash rates and positive difficulty adjustments is akin to a symphony where each element harmonizes to bolster the network's stability.In this digital orchestra, the increasing computational power is the melody, and the difficulty adjustments are the rhythm keeping the network in sync. 🎶🖥️

As Bitcoin gears up for this potential sixth consecutive rise in difficulty, it's not just hitting milestones; it's blazing a trail of sustained growth, showcasing its unwavering strength in the ever-evolving world of cryptocurrency. 🔥🌐I don't think Bitcoin is going away anytime soon, do you?

📉 Friend.tech Faces User Exodus

Friend.tech, a SocialFi platform, is witnessing an exodus, not a sign of growth but of escape.

Over the weekend, trading volumes spiked to over $10 million, hinting at users withdrawing en masse. Analyst Colin Wu suggests this could be typical "exit behavior."

The platform saw over 5,000 ETH withdrawn in two days, marking a significant outflow since October. Its Total Value Locked (TVL) also plummeted 21% to 17,100 ETH. 📊I wonder who was withdrawing... rug pull or just lack of confidence?

Amidst phishing and SIM-swap scams, friend.tech removed 600,000 bot accounts, but genuine users were reportedly caught in the net.Influencers like “SalsaTekila” and analyst Alex Krüger voiced frustrations over being locked out and unsupported. 🗣️🔐Oooh, that's not a good look for the platform! 🤦

As discontent grows, friend.tech’s decline from a thriving SocialFi space to a platform in turmoil is stark, underscoring the volatile nature of digital finance platforms. 💻📉