Crypto
Improving ‘legal tender status’ for cryptocurrency
[This article has been published in Restoring America to highlight how loosening regulations on various forms of currency could contribute to economic growth.]
Bitcoin is now authorized tender in each the Central African Republic and El Salvador, and there have been talks round a
variety of
different
international locations
that could be making ready to observe swimsuit.
Obed Namsio
, chief of workers for President Faustin‐Archange Touadera, instructed Reuters that the transfer was “a decisive step towards opening up new alternatives for our nation.” Might an identical transfer open new alternatives for america as effectively? Or is there a greater choice on the desk that would assist stage the taking part in area for all various currencies?
What Authorized Tender Is and Is Not
In america, the idea of “authorized tender” has been surrounded by confusion for much too lengthy. For instance, it has been generally argued that companies can’t deny money (technically U.S. cash and foreign money) due to “its authorized tender standing” and recently, a rising motion of activists has argued that authorized tender standing would clear up most of the authorized woes difficult Bitcoin in america. Neither argument is right.
The primary argument is an argument for what could be higher described as “pressured tender standing,” whereby the federal government forces companies to simply accept a sure technique of fee. Individuals will
cry foul
when a enterprise refuses, for instance, something bigger than a twenty‐greenback invoice. They attempt to argue that the money of their hand is authorized tender and thus the enterprise should settle for it. In reality, these arguments have gained a lot traction that lawmakers have repeatedly launched the, paradoxically titled,
Fee Alternative Act
to limit companies from selecting how they wish to be paid in an effort to drive the acceptance of money.
So how does the U.S. code outline authorized tender? The present statute titled “Authorized Tender” (
31 U.S.C. Part 5103
) says,
United States cash and foreign money (together with Federal reserve notes and circulating notes of Federal reserve banks and nationwide banks) are authorized tender for all money owed, public costs, taxes, and dues. International gold and silver cash will not be authorized tender for money owed.
As I defined
in a new briefing paper
, this statute does little greater than denote the acceptability of U.S. cash and foreign money. It could be inconvenient to take action, however People are free to pay for items and providers with bitcoins, euros, pesos, or the rest anyplace somebody agrees to simply accept them. An alternate foreign money won’t be authorized tender, however it’s neither unlawful nor invalid to supply it –– a minimum of, not based mostly on Title 31 of the U.S. Code.
This restricted nature of “authorized tender standing” in america brings us to the
second argument
––that authorized tender standing would clear up the authorized woes difficult Bitcoin. Not solely will authorized tender standing not drive companies to simply accept an alternate foreign money, but it surely additionally gained’t spare various currencies from issues like
capital good points taxes
. In reality, as
Jerry Brito
and
Jake Chervinsky
have identified, authorized tender standing would possible do little greater than function a symbolic endorsement. However even then, a symbolic gesture is unlikely to have a optimistic influence given all of the
urgent
points
at hand
. As an example, the
Infrastructure Act’s cryptocurrency provisions
created a de facto ban on authorized cryptocurrency mining in america in addition to an expanded stage of monetary surveillance that’s enforced by risk of felony costs––each of which is able to go into impact in lower than a yr.
However that’s to not say there can’t be enhancements –– enhancements that would assist forge a freer monetary system –– to how the regulation treats authorized tender standing for the greenback, cryptocurrencies, or any various foreign money for that matter.
What Authorized Tender Ought to Be
Because the Federal Reserve notes on its
FAQ web page
, “There is no such thing as a federal statute mandating {that a} personal enterprise, an individual, or a corporation should settle for foreign money or cash as fee for items or providers.” The Treasury Division’s
Bureau of Engraving and Printing
has a FAQ web page that makes the identical level. So, there’s a easy repair that would treatment a lot of the confusion between the U.S. authorized tender legal guidelines and the pressured tender legal guidelines in authoritarian regimes. Congress ought to make clear the prevailing authorized tender statute by explicitly stating the bounds of authorized tender in order that it’s clear that there isn’t any mandate. Doing so would make it clear that U.S. foreign money just isn’t pressured tender and extra so, it might make it clear that the usage of various currencies just isn’t prohibited in america.
This text initially appeared within the Cato at Liberty weblog and is reprinted with variety permission from the Cato Institute.
Crypto
Energy Plug Technologies Introduces Energy Tokenization with Cryptocurrency-Integrated Energy-as-a-Service (EaaS)
Vancouver, British Columbia–(Newsfile Corp. – November 26, 2024) – Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) (FSE: 6GQ) (“Energy Plug” or the “Company”) is pleased to announce its Energy-as-a-Service (EaaS) model, an integrated advanced battery storage system, blockchain technology, and cryptocurrency ecosystem. This transformative approach delivers energy reliability, cost efficiency, and financial optimization, marking the Company’s new development in decentralized energy solutions.
Energy Plug’s EaaS model combines energy savings, blackout/brownout protection, and a cryptocurrency-driven treasury system to create a seamless, scalable, and transparent energy platform. This innovation can help customers to benefit from a reliable power supply while unlocking new monetization opportunities for commercial, industrial and residential customers through blockchain-enabled efficiency.
Energy Plug’s ground-mounted battery systems are designed to store surplus energy from renewable and non-renewable sources, enabling its use during peak demand periods and can reduce reliance on traditional power grids and lowers energy costs for users. Complementing this is the Company’s Energy Management System (EMS), which can balance supply and demand in real-time, optimizing energy distribution and enhancing overall efficiency. Additionally, Energy Plug’s battery systems can provide critical outage resilience ensuring uninterrupted power for commercial and industrial clients during blackouts and brownouts, thereby minimizing costly operational disruptions.
The EaaS model offers subscription-based pricing, making energy solutions affordable by reducing upfront capital costs. Backed by Service Level Agreements (SLAs) with performance metrics, customers gain a consistent, high-quality energy service tailored to their needs.
Energy Plug’s integration of cryptocurrency is poised to redefine energy finance by introducing efficiency, flexibility, and transparency. Fast transactions enable near-instantaneous settlements, reducing friction in energy trading and management. Furthermore, blockchain-based treasury systems may be able to ensure traceable and transparent financial operations, ensuring trust and accountability for all stakeholders.
Brodie Gunning, President and CEO of Energy Plug Technologies Corp., highlighted the model’s impact, “Our EaaS model embodies the future of energy innovation, combining cutting-edge technology with financial empowerment. By integrating blockchain and cryptocurrency, we are creating a platform that can democratize energy access, drive sustainability, and deliver value to our customers.”
Crypto
ZT Mining Introduces User-Friendly Cloud Mining Services for Global Cryptocurrency Investors | Bitcoinist.com
ZT Mining is revolutionizing cryptocurrency investment by offering accessible and secure cloud mining solutions to a worldwide clientele.
Since its inception in 2020, ZT Mining has emerged as a reputable entity in the cryptocurrency sector, serving over 200,000 clients across more than 150 countries. The platform enables users to mine various cryptocurrencies without expensive hardware or specialized technical knowledge.
Simplified Mining Experience
ZT Mining’s platform is designed to be intuitive, allowing users to:
- Register an Account: Quickly set up a profile to access the platform’s features.
- Select a Mining Plan: Choose from various plans for different investment levels.
- Receive Earnings: Profits are deposited directly into the user’s designated wallet, and each plan’s performance is transparently tracked.
- Automatic Deposit and Withdraw: ZT Mining offers an automatic deposit and withdrawal feature, which is one of the most unique features. Users do not have to worry about deposits and withdrawals once they fix it.
Diverse Investment Plans
The platform offers several investment options to accommodate various investor profiles:
Mining Plan | Contract Price | Duration | Daily Profit | Total Net Profit | Capital Back |
Free Bitcoin Miner | $35 | 1 Day | $1.00 | $36.00 | Yes |
Bitcoin S21+ | $159 | 2 Days | $3.18 | $165.36 | Yes |
Bitcoin S21+ Hyd | $500 | 5 Days | $7.60 | $538.00 | Yes |
Litecoin L7 (8.8Gh) | $1,500 | 7 Days | $24.00 | $1,668.00 | Yes |
Dogecoin L7 (9.05Gh) | $2,999 | 10 Days | $50.38 | $3,502.80 | Yes |
Dogecoin L7 (9.3Gh) | $6,500 | 15 Days | $113.10 | $8,196.50 | Yes |
Bitcoin S21e XP Hyd | $15,000 | 20 Days | $270.00 | $20,400.00 | Yes |
These plans are structured to provide daily profits and return on capital, catering to both novice and experienced investors.
What Makes ZT Mining Stand Out in the Market
ZT Mining has the best crypto mining software in the cryptocurrency mining industry. It offers unique features that cater to a broad audience.
Here are the key factors that make it a preferred choice:
Innovative and Accessible Technology
ZT Mining uses cutting-edge cloud-based technology to simplify cryptocurrency mining. Users can participate without investing in expensive hardware or acquiring technical expertise. It makes mining accessible to investors, breaking down traditional barriers and making cryptocurrency mining available to a global audience.
Affiliate Program for Additional Earnings
ZT Mining also offers an affiliate program, allowing users to earn commissions by referring new clients. Affiliates receive a 3.2% commission on each referred client’s investment, with additional bonuses ranging from 1.8% to 3.2% for subsequent referrals made by those clients.
The affiliate program allows you to generate passive income by sharing a unique referral link on various social media platforms.
Transparency and Trustworthiness
Transparency is at the core of ZT Mining’s operations. The platform provides clear tracking of earnings, with users able to monitor their mining outputs in real time.
Coupled with reliable daily payouts and a proven history of secure transactions, ZT Mining has earned the trust of over 200,000 clients worldwide.
Diverse Plans for Varied Investors
The mining platform offers a variety of investment plans, catering to different budgets and risk appetites. From low-cost entry-level options to high-value, short-term contracts with significant returns, the platform ensures flexibility for every investor type. Adding features like guaranteed capital return enhances its appeal to those seeking secure, high-reward opportunities in the cryptocurrency space.
These differentiators solidify ZT Mining’s position as a go-to platform for cryptocurrency enthusiasts, combining accessibility, reliability, and profitability in one comprehensive solution.
Advanced Security Measures
The platform employs robust security protocols to protect user investments and personal information. Utilizing EV SSL encryption ensures that all data transmitted between users and the platform is securely encrypted, safeguarding against potential cyber threats. Dedicated servers are fortified against DDoS attacks, providing uninterrupted service access.
Summary
ZT Mining is a trusted and user-friendly platform that simplifies cryptocurrency mining for all types of investors. With advanced technology, diverse investment plans, and a focus on security and transparency, it has gained the confidence of over 200,000 users worldwide.
FAQs
- How does ZT Mining ensure the safety of user investments?
ZT Mining employs advanced security measures, including EV SSL encryption and DDoS protection, to safeguard user data and transactions. The platform also provides transparent earnings tracking, ensuring users fully see their investments.
- Do I need technical knowledge or mining equipment to start with ZT Mining?
No, ZT Mining’s cloud-based system eliminates the need for expensive hardware or specialized technical skills. It offers a simple setup and a user-friendly interface.
- How can I earn additional income with ZT Mining?
ZT Mining’s affiliate program allows users to earn commissions by referring new clients. Affiliates receive a 3.2% commission on referred investments and bonus rates for indirect referrals. Sharing your unique referral link on social media platforms can help you generate passive income.
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
Crypto
Crypto miners must register with state and reveal power usage under new Texas rule
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Texas’ utility regulator on Thursday adopted a rule requiring cryptocurrency mining facilities connected to the state’s main electric grid to register with the state’s grid operator.
The rule, which was mandated by lawmakers in a 2023 bill, requires crypto mining facilities that consume more than 75 megawatts of power to tell the Public Utility Commission and the Electric Reliability Council of Texas, which oversees the state’s power grid, the facility’s location, ownership and electricity demand.
Crypto mining, which consumes vast amounts of power to run and cool its computers, has been growing in Texas, contributing to a surge in electricity demand across the state. The rule was designed to help the state see how much electricity crypto facilities will consume and protect the grid’s reliability.
“This is another example of the PUCT and ERCOT adapting to support a rapidly changing industrial landscape,” PUC Chairman Thomas Gleeson said in a statement. “Most importantly, we will always take the steps necessary to ensure reliable, affordable power for all Texans.”
Existing facilities must register by Feb. 1 and renew their registration annually. Companies must also provide each facility’s anticipated peak load for the next five years, in addition to the actual power the facility consumed in the prior year.
Failure to register could result in up to a $25,000 penalty per violation per day.
Crypto facilities are considered “large flexible loads” by state regulators, meaning they can adjust their power consumption quickly — such as powering off their computers when the grid is strained.
As of July, ERCOT estimated that crypto facilities on the main grid could use up to 2,600 megawatts of power — about the same amount of power used by the city of Austin. The state recently approved crypto mining facilities that are expected to use another 2,600 MW of electricity, and more are expected to locate in Texas soon.
The most important Texas news,
sent weekday mornings.
That growth, in addition to increasing interest in Texas from data centers, hydrogen production facilities and oil and gas companies that are electrifying their drilling operations largely concentrated in the Permian Basin, has driven ERCOT’s prediction that electricity demand in Texas could nearly double within six years.
Demand on the power grid hit a record of 85 gigawatts last year, which was the hottest ever recorded in the state. ERCOT experts now say demand could reach around 150 gigawatts by 2030.
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