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McDowell Commissioners to consider banning cryptocurrency mining

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McDowell Commissioners to consider banning cryptocurrency mining

The McDowell County Board of Commissioners will hold a public hearing next month about the banning of commercial cryptocurrency mining in McDowell.

On Monday, the commissioners held their first regular meeting of the month at the County Administrative Offices on North Main Street in Marion. During the meeting, they heard an update from Planning Director Ron Harmon about commercial cryptocurrency mining in McDowell.

Earlier this year, the commissioners implemented a moratorium on this activity. Cryptocurrency mining is defined as “the continuous process where computers work to solve algorithms to maintain and build algorithmic, or blockchain, and in exchange are granted cryptocurrency.” Cryptocurrency is a form of currency that exists digitally. It is a digital payment system that does not rely on banks to verify transactions. The cryptocurrency mining uses significant electricity and water resources as part of its operations to power special servers and maintain a cool climate, said local officials.

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“Cryptocurrency mining requires considerable amounts of electricity usage, noise, and other local impacts to communities living near the mining facilities,” reads a memo to the commissioners.

County Manager Ashley Wooten told The McDowell News earlier this year that there have been inquiries from companies interested in starting a cryptocurrency mining operation in McDowell.

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The commissioners voted earlier this year to enact a 12-month moratorium. They also directed the county Planning Board and staff to look at creating rules for cryptocurrency mining operations in McDowell County.

On Monday, Harmon presented a draft of the commercial cryptocurrency ordinance. It more or less bans the development of commercial cryptocurrency mining throughout the unincorporated areas of the McDowell County. The municipalities of Marion and Old Fort may elect to allow this ordinance to be effective within their corporate limits and extraterritorial jurisdictions. Harmon said it would not prohibit cryptocurrency mining by private individuals.

The commissioners agreed to hold this hearing at their Dec. 11 meeting.

In a related matter, the commissioners approved changing the county’s telecommunications tower ordinance to comply with new federal regulations.

Commissioners also heard a report from Health Director Karen Powell with the Foothills Health District.

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Powell presented a request to increase several environmental health fees. The higher fees are for evaluation of new and existing wastewater systems. Powell also asked the commissioners to endorse a policy of banning smoking and vaping at the Health Department building.

Under this policy, the Foothills Health District will prohibit the use of tobacco products in “any building of the Health Department and within 50 feet of the building, thus avoiding smoke being drawn into the ventilation system and circulated throughout the building(s).” The ban will cover Health Department buildings, vehicles, playground, outdoor grounds and walkways and parking lots. It will also ban the use of smokeless tobacco on the Health Department property.

“The goal of this policy is to protect the health and safety of all people using health department services; employed by the health department; and/or visiting health department grounds. Specifically, to reduce the exposure to secondhand smoke and tobacco product residual material,” reads a memo from health officials.

The commissioners did not act on these requests but asked for more information before taking action.

During Monday’s meeting, the commissioners indicated they will adopt a resolution in support of Israel in its brutal war with Hamas. The resolution will be brought before the board for consideration at a future meeting.

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In other business, the McDowell County Commission:

Heard a report from Kim Case from myFutureNC. She gave an overview of that organization and its goal of seeing an increase statewide of the number of post-high school education whether it’s college degrees, certificates, or other credentials. The goal for McDowell County is that 51% of the residents will have a postsecondary degree or credential. After hearing from Case, the commissioners adopted a resolution supporting the myFutureNC attainment goal.

Held a public hearing about renaming of roads. Property owners along two named roads off of Hankins Road have requested a road renaming. Emergency Services staff have ensured that the road names do not conflict with any existing road names. The roads were renamed as Drake Lee Drive and Jett Way.

Talked about the strategic planning process. The commissioners met at the end of August to start the strategic planning process. Since that time, county staff and the N.C. Commerce officials have worked to put together a working group comprised of the following departments/agencies: county manager, Sheriff’s Office, Emergency Services, Tourism Development Authority, planning, Parks and Recreation, the Senior Center, N.C. Cooperative Extension, the transit system, DSS, economic development, Foothills Health District, Foothills Regional Commission, McDowell County Public Schools and McDowell Technical Community College. The group held its first meeting on Nov. 1 to review the strengths, weaknesses, opportunities and threats that were identified by the commissioners. The next meeting will focus on the vision that has been laid out by the board. In addition, a public input survey has been developed.

Heard updates about building projects including the Recreation Center and the animal shelter. The commissioners recently rejected the bids for the Recreation Center project. The architect is now reworking the bid scope to focus on the pool, parking/driveway improvements, and whatever components can be completed on the sports field. The animal shelter architects will meet with staff this week to review and finalize the drawings for the shelter. A topographical survey of the proposed location on N.C. 226 South has been ordered. There have been several positive discussions with donors regarding assistance with the project, according to Wooten.

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Heard an update on water system upgrades. The Nebo IA and IB projects are being funded by the county’s $11 million state appropriation. The Universal water and sewer project is being funded by a combination of N.C. Commerce funds and American Rescue Plan Act funds for McDowell.

Talked about the HUD HOME Consortium. Several years ago, the commissioners agreed to allow the county to act as the lead agency for the Housing and Urban Development (HUD) HOME Consortium. This arrangement allows for funding to be distributed from HUD to participating local governments. While the county is the lead agency and the fiscal agent, the Foothills Regional Commission does the work behind the scenes. The commissioners approved the partnership agreement and the receipt of funds from HUD.

Approved leases with the American Red Cross and McDowell Technical Community College.

Appointed Jim Williams and David Patneaude to the Planning Board and Nancy Moore to the Transportation Advisory Board and Conner Tolley to the Juvenile Crime Prevention Council.

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Cryptocurrency Scams Cost Americans $5.6B In 2023, FBI Report Shows

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Cryptocurrency Scams Cost Americans .6B In 2023, FBI Report Shows

The Federal Bureau of Investigation’s Internet Crime Complaint Center (IC3) has disclosed that Americans lost a staggering $5.6 billion to cryptocurrency-related fraud in 2023.

What Happened: This figure, released in the FBI’s 2023 Cryptocurrency Fraud Report, marks a 45% increase from the previous year, highlighting the growing sophistication of cybercriminals in the digital asset space.

The report details that while cryptocurrency-related complaints accounted for only 10% of all financial fraud reports, they represented nearly half of the total financial losses, highlighting the high-stakes nature of cryptocurrency scams.

Investment fraud emerged as the dominant form of cryptocurrency-related crime, accounting for 71% of all losses.

The FBI noted a particular increase in “confidence-enabled cryptocurrency investment fraud,” where criminals build trust with victims through dating apps, social media, or professional networking sites before introducing fraudulent investment opportunities.

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Also Read: Metaplanet Acquires 38.6 Bitcoin for $2.2M, Expanding Total Holdings To 398.8 BTC

“Criminals exploit the decentralized nature of cryptocurrency, the speed of irreversible transactions, and the ability to transfer value around the globe,” said Michael D. Nordwall, Assistant Director of the FBI’s Criminal Investigative Division. “This creates significant challenges in recovering stolen funds.”

The report also highlighted an alarming trend of labor trafficking connected to cryptocurrency scams, with individuals lured overseas by false job advertisements and forced to participate in fraudulent operations.

Interestingly, the age group reporting the highest losses was those over 60, with more than $1.24 billion in reported losses, despite younger age groups filing more complaints overall.

What’s next: In light of these findings, the upcoming Benzinga Future of Digital Assets event on Nov. 19 takes on added significance as a platform to discuss the advantages and drawbacks of building a cryptocurrency-based financial system.

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VOOX Beta Launch: Leading the Future of AI-Driven Cryptocurrency Trading Platform #VOOX

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VOOX Beta Launch: Leading the Future of AI-Driven Cryptocurrency Trading Platform #VOOX

SINGAPORE –
Media OutReach Newswire – 10 September 2024 – In an exciting development for the cryptocurrency industry, VOOX is proud to announce the beta launch of its state-of-the-art cryptocurrency exchange platform. This launch, exclusively available to VIPs and invited members, is set to redefine the standards of digital asset trading, introducing a suite of advanced AI-driven tools designed to optimize user experience and enhance market interaction.

Main Takeaways:

  • VOOX Beta Launch: Exclusive to VIPs and invited members.
  • Advanced AI Integration: Utilizing sophisticated AI to provide predictive analytics, automated trading, and personalized insights.
  • Enhanced Security Measures: Featuring state-of-the-art security protocols to ensure user safety and compliance.
  • User-Centric Features: Offering a streamlined, intuitive interface designed to simplify the trading process for all users.

From its inception, VOOX has aimed to democratize cryptocurrency trading. “Our platform incorporates AI technologies that not only predict market trends but also enhance risk management and trading strategies, making sophisticated trading accessible to everyone,” said Vince, founder of VOOX. “By opening our beta exclusively to VIPs and select invitees, we aim to gather detailed feedback to fine-tune the platform before a full public launch.”

The VOOX platform distinguishes itself by focusing on user experience and security. It combines an easy-to-navigate interface with powerful analytical tools powered by AI. These tools analyze vast amounts of data to provide real-time insights and trend predictions, which help traders make more informed decisions quickly and efficiently.

Moreover, security is paramount at VOOX. The platform is built with the highest security standards, incorporating features such as end-to-end encryption, two-factor authentication, and cold storage solutions to protect user assets. Regular security audits and adherence to stringent compliance regulations ensure that VOOX operates reliably and transparently.

As the crypto market continues to evolve, VOOX is committed to continuous improvement and innovation. The beta launch allows early adopters to experience firsthand the capabilities of the platform and contribute to its refinement. “We are keen to engage with our VIP users and incorporate their feedback to enhance the platform further,” added Vince.

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Hashtag: #VOOX

The issuer is solely responsible for the content of this announcement.

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Biden And Trump Debate Had 0 Mention Of Bitcoin, What Are The Odds Kamala Harris And Ex-President Will End Up Discussing Crypto? – Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC)

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Biden And Trump Debate Had 0 Mention Of Bitcoin, What Are The Odds Kamala Harris And Ex-President Will End Up Discussing Crypto? – Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC)

Bettors on the decentralized prediction platform Polymarket expected few mentions of cryptocurrencies and Bitcoin BTC/USD in the hotly anticipated presidential debate between Donald Trump and Kamala Harris.

What happened: The odds of Republican hopeful Trump uttering the words stood at 14% as of this writing, significantly down from 23% seen on Sunday. 

Wagers worth more than $129,000 were placed on the probability of the occurrence, higher than some of the other burning topics like abortion and border security.

The odds of Harris mentioning cryptocurrency and Bitcoin was at 10%, a decline from 14% seen during the weekend.

Trump continued to lead Harris in presidency betting odds, with bettors expecting a 52% chance of the Republican winning the race for the White House.

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Polymarket, built atop Ethereum’s ETH/USD Layer-2 chain, Polygon MATIC/USD, has emerged as one of the world’s top prediction markets for U.S. elections in the last few months. The novel initiative allows users to bet on major global events using cryptocurrencies.

See Also: Peter Schiff Will Accept He Was Wrong About Bitcoin If Restaurants Begin To Show Prices In Satoshis Among Other Things

Why It Matters: The upcoming debate will be the second of this election cycle and the first between Trump and Harris, who replaced incumbent Joe Biden following his withdrawal from the race after the first presidential debate.

Notably, the last debate between Biden and Trump saw no mentions of cryptocurrency or Bitcoin.

The outcome of the election was expected to have serious implications for Bitcoin’s price, according to a Bernstein report.

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A Trump victory could propel Bitcoin to new heights, potentially reaching $80,000 to $90,000 by the end of Q4, the report said, citing the former president’s vocal support for the asset class.

On the contrary, a Harris presidency could witness the leading cryptocurrency dropping to the  $30,000 to $40,000 range. The analysis identified the absence of cryptocurrency mentions in the Vice President’s speeches and policy pronouncements as a contributing cause to the uncertainty.

While Harris has not shown her stance on cryptocurrencies, her campaign team has tried to engage with top industry names like Coinbase and also earned the support of Ripple co-founder Chris Larsen.

Photo Courtesy: Shutterstock.com

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