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Latest Crypto News: Asic Premium Digest #1

02 Sep 2022
Latest Crypto News: Asic Premium Digest #1

The latest crypto headlines and our thoughts on their industry impact! Welcome to the AsicPremium crypto news digest. Let's see what happened these last few days.

NVIDIA announced financial results for second quarter

According to this announcement, NVIDIA's revenue for the second quarter ending July this year was up 3% from a year ago. "Accelerated computing and AI, the pioneering work of our company, are transforming industries," said Jensen Huang, founder and CEO of NVIDIA.

The company also revealed that recently the number of GeForce RTX laptops was increased, including models with RTX 3080Ti. It is worth noting that 3080Ti for desktop PC are very popular between gamers and miners, since it's one of the most profitable GPU for mining.

The potential earnings for 3080Ti as well as for any other GPU can be checked in profitability calculator.

The total volume of transactions in the Bitcoin network reached $100 trillion

The Bitcoin network topped 100 trillion USD in total transacted value. This was pointed out by analyst David Puell.  It's worth noting that being the most popular cryptocurrency, Bitcoin also remains popular among miners.

Many choose We to sell their hashpower for Bitcoin as an alternative to mining other coins, and with 4 hour payouts this means AsicPremium contributes to over 6 million Bitcoin transactions per day! 

Argentina's Mendoza province has begun accepting cryptocurrencies to pay taxes

In Argentina, the Mendoza Tax Authority added a new option to pay taxes. As it stated in the announcement, taxpayers can now also pay local taxes and fees with cryptocurrencies. When a taxpayer makes a crypto payment, the company providing the online payment service converts cryptocurrency into pesos and the taxpayer receives proof of this payment.

Remember that customers from Argentina have the option to sell crypto directly to their bank account.  

Japanese authorities will discuss reducing the tax burden for crypto startups

Japanese politician Masaaki Taira, quoting the Yomiuri Shimbun, tweeted that the taxation of crypto assets should be revised to prevent the outflow of new companies abroad. Twitter users mostly reacted positively to the politician's tweet, noting also the importance of tax reform for individuals.

Quote

"Every smart person that I admire in the world, and those I semi-fear, is focused on this concept of crypto for a reason. They understand that this is the driving force of the fourth industrial revolution: steam engine, electricity, then the microchip - blockchain and crypto is the fourth." (Brock Pierce)
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