Daily: China State Media Targets ICOs (for the LAST TIME??!!)

Boxmining avatar Boxmining
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Description

China State Media Targets ICOs in an attempt to stop the underground private sales. 0:55 Market Analysis 2:28 China’s State Media Targets ICOs 3:33 Mining Malware Tsunami Continues: ‘5000’ High-Profi...

AI Analysis

This video dives into the current state of the cryptocurrency market, highlighting China's ongoing efforts to regulate Initial Coin Offerings (ICOs), the growing threat of mining malware, and a unique humanitarian initiative leveraging crypto mining. It offers insights into market behavior influenced by cultural events and the persistent challenges of controlling decentralized digital assets.

Here’s a breakdown of the key topics:

* Market Analysis
* The overall cryptocurrency market cap is holding steady at around $413 billion, showing minor daily fluctuations.
* There's a general sentiment of "lack of action" and "flatness" in the crypto market over the past few days, with Bitcoin struggling to push past the $9,000 mark. There seems to be some resistance and a period of waiting.
* This slow movement might be due to Chinese New Year, which is a major holiday in many Asian countries like China, Korea, and Japan. People might be taking a break from trading or even cashing out a bit to fund their holidays.
* The Korean premium, which indicates how much more expensive crypto is in South Korea compared to other markets, is currently around 3-4%, a decrease from the previous week. This reduction is likely due to new, increased regulations on cryptocurrency trading in South Korea.
* As a result of these regulations, South Korea's trade volume has significantly dropped, moving from being among the top one or two global markets to around eighth place.

* China’s State Media Targets ICOs (Again!)
* China's state media is once again targeting ICOs, specifically the private sales that have emerged since public ICOs were officially banned in the country.
* After the initial ban on public sales, projects in China shifted to raising funds through private groups and then listing directly on exchanges, bypassing public offerings.
* The Chinese government is unhappy with these underground activities and wants to completely stop all crypto trading and prevent Chinese citizens from participating in any crypto-related activities, even unofficial ones.
* This continuous targeting shows that despite official bans, there's a lot of unofficial crypto activity still happening in China.
* It also highlights that the cryptocurrency markets remain sensitive to news and actions from China, even though they've officially stepped out of the ICO business.
* It's incredibly difficult, if not impossible, to put the "crypto genie back in the bottle" once it's been opened, as the nature of cryptocurrency makes it very hard to fully suppress.

* Mining Malware Tsunami
* Mining malware, which injects scripts onto your computer to mine cryptocurrencies like Monero, is becoming increasingly popular.
* Monero is often targeted because it's CPU-mineable, meaning it can be mined using a regular computer's processor, unlike Bitcoin which requires specialized ASIC hardware.
* Recently, several high-profile UK government websites were affected, not directly by a government hack, but through a compromised third-party plugin called "BrowseAloud," which lacked strong security.
* These malicious scripts can be very short, sometimes just a link to a JavaScript file, which then runs on your computer and starts mining without your knowledge.
* You should watch out for signs like unusually high CPU usage, your computer heating up faster than usual (especially laptops), and faster battery depletion, as these could indicate that a website is secretly using your device to mine Monero.
* The general Monero difficulty chart shows a significant increase, almost four times in the past four months, indicating a massive surge in overall Monero mining, much of which is likely coming from these hijacked computers.

* UNICEF Game Chaingers
* UNICEF has launched an initiative called "Game Chaingers" that allows people to use their gaming-grade hardware to mine cryptocurrencies for charity.
* The goal is to use the processing power of gaming GPUs (graphics cards) to mine crypto, which is then donated to help children in Syria.
* To participate, you simply download their client and select your GPU. It supports both Nvidia and AMD graphics cards, with better performance on newer models.
* If you decide to participate, be aware that your graphics card will be working continuously, potentially leading to increased noise and heat from your computer. This is a unique way to leverage personal computing power for a humanitarian cause.

Transcript

Today on Box Mining Daily, we're going to start off with the market analysis followed by China. So the Chinese state media is targeting ICOs yet again. What does that mean? It means that there's still a lot of ICOs happening underground in China and they're trying to spread some fear over there. We also have mining malware. So there's a lot of new mining malware out there because people have found out it's so easy to attach these mining scripts onto ads or onto services and allow for a hostile ...