Posts in category: Reviews

2024 is starting where 2023 left off. Momentum keeps driving crypto forward, with certain pockets benefitting in particular. Let’s dive into these key narratives and what 2024 may have in store for them.

1- Bitcoin ETF Launch – More than 10 years after the first Bitcoin ETF spot application, it appears we are primed for it to launch this month. Multiple applications from some of the largest asset managers are expected to receive a response regarding their approval as soon as today, January 5.

Source: IntoTheBlock’s Bitcoin ETF Perspectives

Will the Bitcoin ETF Finally be Approved? The answer to this question can vary significantly based on the person answering

• In a Bitwise report surveying financial advisors in Q4 showed that only 39% of advisors expected a spot Bitcoin ETF to launch in 2024
• On the other hand, Bloomberg ETF analysts have consistently been point at 90% odds of approval for the ETF, while a senior crypto reporter at TechCrunch pointed to the approval for multiple firms, “expecting something tomorrow” (January 5)
• While traditional finance companies were still skeptical of the Bitcoin ETF approval, people familiar with the matter suggest the approval to be imminent

Is an Approval Priced In? Given the seemingly high odds of approval, is the market move from the ETF already factored in by market participants?

• Following a hypothetical approval announcement, a poll from crypto anon Hsaka suggests that 50% of respondents believe prices will be at least 5% higher within 48 hours, with just 22% voting it would drop by 5% and the remainder voting for it to remain rangebound. Though not extremely bullish, it does show a positive consensus, opening things up for a potential downside surprise
• In a recent interview, Jim Bianco also noted that traders have been front-running the potential inflows from an ETF by investing into Bitcoin proxies such as Coinbase’s stock, MicroStrategy and GBTC, all which outperformed Bitcoin in the last quarter

What’s Next? The next week should be interesting as the final decisions are announced

If the ETF is approved, then the market’s attention is likely to shift to whether it’s an initial “sell the news” event first
The next parameter to watch will be just how much volume these ETFs are able to attract within the first days of trading. If these disappoint, there is potential risk for the market, which has been overly optimistic
Regardless of the outcome, the Bitcoin ETFs are likely to continue being a major catalyst affecting crypto in Q1 of 2024

2- Ethereum’s Dencun Upgrade Impact on L2s – After being delayed a few months, Ethereum is on track to deploy its next major upgrade in late Q1 or early Q2. EIP-4844, also known as protodank sharding, is one of the most anticipated changes coming, bringing down transaction costs on layer 2s by 10x or more

Source: IntoTheBlock’s Arbitrum Incentives Program dashboard

Accelerating L2 Growth – The main layer 2s have been seeing sharp growth in prices and key metrics

• Optimism’s OP token is up 180% over the last 90 days, while Arbitrum’s ARB has increased by 130% within the same period
• As we discussed in 2023 On-Chain, the number of transactions on these Ethereum L2s has climbed by more than 90x in the last two years
• The reduction in transaction costs is expected to attract further economic activity into L2s due to reduced friction

Arbitrum’s Moment – Although OP has outperformed over the last three months, Arbitrum metrics are showing signs of progress in 2024

• The total amount of trading volume on Arbitrum surpassed that of Ethereum Mainnet on January 4 for the first time, per DeFi Llama data
• Arbitrum’s incentive program has increased TVL on the L2 by nearly 50%, as shown in ITB’s dashboard

Overall, Ethereum’s transition to L2s has been in motion already, and is set to accelerate following the implementation of the Dencun upgrade. As such, the L2 ecosystem and their tokens are a main area of focus going into 2024.

3- Restaking & Liquid Staking – In terms of new products, EigenLayer’s launch is set to be one of the most anticipated releases of 2024. EigenLayer is an infrastructure layer that will enable “restaking”, or using Ethereum’s existing staked funds in order to validate additional features for applications building on top of it. Its launch is set to bring forth new applications, while benefitting the existing liquid staking protocols.

Source: IntoTheBlock’s Ethereum Liquid Staking Perspectives

Impact of Restaking on LSTs – Restaking on EigenlLayer will provide higher yields on top of the existing staking rate

• Users of EigenLayer can deposit liquid staking tokens, such as Lido’s stETH, and earn extra yield from the actively validated services (AVSs) they choose to validate
• Prior to their main launch, EigenLayer has already attracted over $1B in deposits, through their points program
• Over 70% of deposits into EigenLayer have come through liquid staking, pointing to large role these are likely to play as the launch approaches
• Building both restaking and data availability services, EigenLayer is also likely to offer one of the largest airdrops in crypto history, as evidenced by the funds they have managed to attract just off of their points system

Just a week into the year, chatter around restaking has grown as EigenLayer reached its cap of the amount of ETH staked into the product. Liquid staking projects governance tokens such as LDO have also been favored by the market, appreciating by over 10% year to date. Ultimately, the launch of this new primitive is expected to be one of the key narratives shaping crypto throughout the year.

The Google Play Store, a hub for millions of apps, has been recently targeted by malicious Telegram clones, jeopardizing the security of thousands. These mods, eerily similar to the original and laden with spyware capabilities, pose a substantial threat to individual and business users alike.

Telegram, an encrypted messaging application, allows and encourages the development of “mods” – modified versions of the original software to enhance user experience. While most mods are developed with user benefits in mind, this openness has inadvertently given cybercriminals an opportunity to exploit unsuspecting users.

Masquerading as “faster” alternatives to the conventional Telegram app, these malignant clones have successfully eluded Google Play’s security measures. They predominantly target Chinese-speaking users, with app descriptions available in traditional Chinese, simplified Chinese, and the Uyghur language. A particular subset of these deceptive apps goes by “Paper Airplane,” which entices users with the promise of faster performance, attributing it to a global network of data centers.

The malevolent clones are distinguished from the genuine Telegram app by an embedded module – a powerful spyware that tracks all messenger activities, from collecting contacts to intercepting messages.

The staggering number of downloads – more than 60,000 – highlights the severity of the issue. The Uyghur-targeted version is especially alarming, considering the past surveillance and persecution faced by this ethnic minority by government agencies.

These revelations raise concerns for businesses, especially in light of the growth of mobile spyware and the vast personal and corporate data housed in smartphones. With businesses now leaning heavily on messenger apps for day-to-day communication, such findings serve as a stark reminder of the omnipresent cyber threats.

In response to these findings, Google initiated the removal of these deceptive Telegram clones from its store. Some of these apps had accumulated up to 10,000 downloads before their eventual removal. Nonetheless, concerns persist as not all versions of the malicious apps have been eradicated from the Play store.

Counterfeit apps have long been a staple in the hacker’s toolkit. Recent revelations exposed another scheme where hackers circulated bogus versions of Signal and Telegram through legitimate app stores to implant information-stealing malware. Another spyware-infused version of Telegram, labeled “FlyGram,” was identified on both Google Play and the Samsung Galaxy Store, as was a trojanized version of the Signal app, named Signal Plus Messenger.

Businesses, to safeguard their interests, are being advised to caution employees about the risks of third-party apps, even when sourced from reputed app stores. Users are encouraged to be vigilant, paying attention to details like the developer and negative user reviews, not just the app’s name.

Grayscale Investments, a leading crypto investment firm, recently landed a huge victory in its legal tussle with the Securities and Exchange Commission (SEC) over its proposed Grayscale ETF. A federal appeals court ruled in favor of Grayscale and compelled the SEC to reevaluate its earlier denial of Grayscale’s proposal to convert its Bitcoin Trust, called GBTC, into an ETF. This judgement has sent ripples across the crypto industry, leading to an immediate surge in Bitcoin prices and offering hope for the approval of spot bitcoin ETFs in the U.S.

The legal conflict was initiated when the SEC blocked Grayscale’s attempt to convert its Bitcoin Trust into a Grayscale ETF. Grayscale retaliated by suing the SEC in June 2022, arguing that the SEC had acted arbitrarily in approving ETFs investing in bitcoin futures contracts while rejecting products that aimed to hold bitcoin directly. The three-judge panel of the DC Circuit Court of Appeals sided with Grayscale, ruling that the SEC must review its rejection of Grayscale’s proposal.

The court’s decision signals a monumental step forward for American investors and the wider bitcoin ecosystem. The ruling also raises the prospects of other asset managers winning approval for their products. Following the court’s decision, bitcoin prices rose by more than 5%, exceeding $27,000. This price surge underlines the market’s anticipation and the significant impact such a decision holds.

However, despite this victory for Grayscale, the crypto market isn’t tossing confetti just yet. While some tout this victory as the “next big thing” for the digital currency landscape, the market’s lukewarm response and a mere 7% uptick in Bitcoin’s price post-ruling paint a different story.

The SEC has long been skeptical about approving spot bitcoin ETFs, citing concerns over market manipulation. However, the court’s decision could compel the SEC to reassess its stance, potentially opening the doors for a spot bitcoin ETF in the U.S.

Web3 domains are decentralized domains that are registered and controlled by users on the blockchain. Unlike traditional domains, which are governed by centralized authorities and intermediaries, web 3.0 domains offer more security, privacy, and freedom for users. However, there may be situations where you want to transfer your web3 domain to another wallet or person. In this article, we will explain how and why you may want to do that.

How to transfer a web 3 domain

There are two main ways to transfer a web 3 domain: through the Unstoppable Domains website, secondary markets like OpenSea or Rarible or through your own crypto wallet.

Transfer a web3 domain through the Unstoppable Domains

Unstoppable Domains is a platform that allows users to buy, sell, and manage web 3 domains. If you have registered your domain on Unstoppable Domains, you can easily transfer it to another wallet or person through their website. Here are the steps to follow:

• Log in to your Unstoppable Domains account and go to “My Domains”.
• Select the domain that you want to transfer and click on “Manage”.
• Click on “Transfer Domain” and enter the ETH address of the recipient wallet. Make sure that the wallet is connected to a UD account in order to manage the domain. You can also check how to connect a wallet here.
• You will need to check the first three boxes in order to transfer the domain. Please read each of these carefully. If you check the “Clear records upon transfer” option, all data associated with the domain such as crypto addresses and websites will be removed. If you want to keep these records on the domain, do not check this box.
• Press “Transfer Domain”. You will be prompted to sign a transaction in your wallet. Changes will be published to the blockchain, which can take up to 10 minutes.

Transfer a web3.0 domain through secondary markets

Secondary markets are platforms that allow users to buy and sell NFTs (non-fungible tokens), which include web3 domains. Some of the popular secondary markets are OpenSea and Rarible. If you want to sell your domain on these platforms, you can list it for sale and wait for buyers to bid or buy it. If you want to buy a domain from these platforms, you can browse through the available domains and make an offer or purchase it directly.

If you want to transfer your domain directly to another person without listing it for sale, you can also do that through these platforms. Here are the steps to follow:

• Log in to your secondary market account and go to “My Collections”.
• Select the domain that you want to transfer and click on “Transfer”.
• Enter the ETH address of the recipient wallet and click on “Transfer”.
• You will be prompted to sign a transaction in your wallet. Once the transaction is complete, the platform will notify you.

Transfer an ENS domain

To transfer an ENS domain ownership to another user, you need to go to the ENS Domain Manager and log in with the wallet holding your ENS name. Here are the steps to follow:

• Go to app.ens.domains on your web browser.
• On the top left corner of the homepage, click on “CONNECT” to log in with your crypto wallet.
• Once you are logged in, you will see a list of your owned domains. Select the domain you want to transfer.
• Click on the “Transfer” button and enter the Ethereum address of the recipient wallet.
• Confirm the transaction in your wallet.

After the transaction is confirmed, the ownership of the domain will be transferred to the recipient’s wallet. Please note that any records or settings associated with the domain, such as linked cryptocurrency addresses or website content, would need to be updated separately by the new owner of the domain. Additionally, depending on the specific blockchain and wallet software being used, there may be transaction fees associated with transferring the domain between wallets.

Transferring a web3.0 domain as an NFT

Web3 domains are decentralized domains that are registered and controlled by users on the blockchain. Once a user has minted a domain to their wallet, they have complete control over that domain. This means that Web3 domains can be transferred, updated, and linked to other services without the involvement of Unstoppable Domains or any other centralized authority.

To transfer a Web3 domain from your own crypto wallet to another person’s wallet without using Unstoppable Domains, you would need to initiate a transfer of the domain’s non-fungible token (NFT) from your wallet to the recipient’s wallet. The exact steps for doing this would depend on the specific blockchain and wallet software you are using. You may need to consult the documentation for your wallet or seek assistance from the wallet’s support team to learn how to transfer NFTs between wallets.

It is important to note that transferring a Web3 domain in this manner would only transfer ownership of the domain itself. Any records or settings associated with the domain, such as linked cryptocurrency addresses or website content, would need to be updated separately by the new owner of the domain. Additionally, depending on the specific blockchain and wallet software being used, there may be transaction fees associated with transferring the domain’s NFT between wallets.

Why you may want to transfer a web3 domain

There are various reasons why you may want to transfer a web 3 domain. Here are some of them:

• Gifting to family and friends: You may want to secure web 3 domains for your loved ones as a gift or as a way of introducing them to the world of web3. You can then transfer the domains to them whenever you want.
• Selling for profit: You may want to sell your web 3 domains for profit if they have increased in value or demand over time. You can list them for sale on secondary markets or arrange a private sale with someone who wants to buy them from you.
• Changing ownership for business reasons: You may want to change the ownership of your web3 domains for business reasons if they are related to your company or brand. For example, if an employee who registered a domain under their personal account leaves the company, you may want to transfer the domain to another employee or to the company’s account.

Conclusion

Web3.0 domains are a new and exciting way of owning and managing your online identity and presence. However, there may be situations where you want or need to transfer them to another wallet or person. In this article, we have explained how and why you may want to do that using two main methods: through the Unstoppable Domains website or through secondary markets, through ENS and owner’s wallet. We hope that this article has been helpful and informative for you.

In writing texts and copies in WordPress and with the help of Elantor’s page builder, you can click on the multi-star button above or next to the text box and get help from artificial intelligence to write your copy or text.

In the first use of this possibility, you will be directed to the Elementor site to create a user account in Elementor and connect your WordPress site to Elementor.

The simple meaning of the word “Copy” = a piece/text sample from a book or other publication or issue

The AI Elementor Addons are powerful tools that enhance the functionality and capabilities of the Elementor page builder plugin. These AI add-ons utilize artificial intelligence algorithms to provide advanced features, automation, and intelligent recommendations for creating stunning websites. These add-ons save time, enhance user experience, and provide valuable insights for optimizing your website’s performance.

OPENAI GPT INTEGRATION

From personalized website-making to smart automation, our AI-powered add-ons revolutionize the way you interact with technology. Open AI GPT is an advanced machine learning model that can generate human-like text, making it ideal for applications such as content creation and chatbots. Integrating Open AI GPT technology in AI addons for Elementor can bring a new level of sophistication and personalization to your website-building experience. Open AI GPT integration can enhance the features of AI add-ons and provide more advanced capabilities for building high-performing, user-friendly websites.

Generate Images
Use Elementor AI’s text-to-image generator to add unique images and fine-tune them to get the look you want.

Write Copy and Code
Craft original text, modify or translate it right within the editor. Plus, let AI generate custom code – all at the touch of a prompt.

Natively Integrated
Accelerate your productivity and instantly generate spot-on content & code without having to switch between different tools.

Other cool features of Elementor AI in WordPress

• Use the Create with AI button in any image area to generate original images for your website. Describe the images you envision and have Elementor AI create them using the text-to-image generator.
• Refine your image, add elements, or extend it beyond its original dimensions to get to the perfect aspect ratio.
• Instantly generate original text, or enhance existing copy for any part of your website and ensure your messaging is always aligned with your brand.
• Translate your website into any language to increase engagement and connect with larger audiences all across the globe.
• Generate Custom CSS to gain complete control over your website styling while maintaining a lightweight and flexible design.
• Add Custom Code such as Google Analytics or Facebook Pixel snippets so you can make data-driven decisions that will help your business grow.
• Use Elementor AI’s Code Assistant to generate HTML snippets for your website. For example, add a slider, a Spotify playlist, and so much more.Instantly generate text and adjust ‘tone of voice’ according to your audience.Easily translate your website’s content into any language, right within the Editor.
• Let AI fix your spelling or grammar mistakes and make your copy fit, yet still keep your message sharp.
• Create images anywhere that’s relevant in the Editor, including the image widget, CTA widget, image box, background images and more.
• Edit images by describing what you want to add to it, or extend an image beyond its original size to fit other aspect ratios.
• Use any image as a reference to generate similar variations, so you can constantly refresh your website with new images that fit your look & feel.
• Create Custom CSS code for your website’s special designs or styling effects. *Pro only.
• Insert Custom Code for site-wide uses like Google Analytics or FB Pixel tracking. *Pro only.
• Generate HTML code with AI assistance for any purpose, such adding a slider for your website.

With the recent launch of GHO on the Aave v3, we’re happy to announce the release of the GHO Risk analytics in the alpha version of the DeFi Risk Radar.

IntoTheBlock Risk Radar Expands to Stablecoins

A cornerstone to the decentralized finance (DeFi) ecosystem, stablecoins are a crucial tool to help users manage risk and returns in their strategies. However, economic risks such as de-pegging events and liquidations can cause substantial setbacks to a DeFi user’s strategy if not carefully monitored.

IntoTheBlock’s (ITB) newly released Risk Radar Dashboard for the highly anticipated GHO stablecoin is our first step in bringing advanced monitoring for economic risks related to stablecoins. The risk indicators in the dashboard are derived from the metrics used in our quant strategies that manage capital for many of the largest institutions and treasuries in the DeFi ecosystem. For more info on the Risk Radar vision feel free to read our CEO’s announcement of the initial alpha release.

GHO Risk Indicator Overview

Aave is one of the most well-known protocols in DeFi and the largest lending platform in the space with over $7 billion in TVL across 8 different blockchains. Aave’s design is to facilitate a permissionless method for users to lend and borrow assets through overcollateralized loans. As one of the most battle tested protocols in the space, the protocol decided to launch a collateralized debt position (CDP) stablecoin, GHO, as a new product for users.

Stablecoins can be notoriously difficult to manage as the crypto space has seen in the past with major de-pegging events and the infamous crash of Terra’s UST. These larger events are in addition to the daily economic risks a user can face such as liquidations of loans in lending markets or high slippage fees when attempting to withdraw assets from a liquidity pool on a decentralized exchange (DEX)

The 20 new metrics released in the GHO Risk Radar aim to provide a transparent way for users to navigate the risks that can be associated with stablecoins and help users make informed decisions about their strategies. Below, we will highlight a few of the indicators in the GHO Risk Radar release and how they can be used to navigate the market.

GHO Peg Performance

A key indicator to monitor for stablecoins is its ability to keep its peg. The GHO Peg Performance indicator tracks GHO peg performance against other stablecoins in a liquidity pool.  Above we can see that GHO has struggled slightly to keep the peg with other stablecoins such as crvUSD, FRAX, and USDC. This is often the case for a newly launched stablecoin as it expands its total supply and liquidity begins to deepen in the liquidity pools.

IntoTheBlock DeFi Risk Radar users will be able to monitor potential de-pegging events in near real-time, download the data to analyze previous instances and soon be able to receive alerts to be notified as they happen.

Collateral Distribution Behind Borrows

To monitor economic risks to GHO from a global perspective, users can use the Collateral Distribution Behind Borrows metric. The chart highlights the types and amounts of collateral used over time to mint GHO.

As can be seen in the chart, The most used collateral to mint GHO is wstETH with the second asset being WETH. This means that users would want to pay attention if there was a sharp decrease in the price of ETH as it could result in a substantial reduction in the supply of GHO. As GHO minters repay debts or get liquidated, the supply of the stablecoin could shrink in liquidity pools which could cause high slippage for users wanting to exit.

Whales Credit History

The behavior of whales in a market can have a significant impact on other users and the protocol’s overall health. If there are whales in the market that are known to have risky behavior, this information can help other users model their own risk profiles in the market accordingly.

The Whales Credit History indicator helps users identify GHO whales and understand how they have behaved in the past through their borrow, repayment, and liquidation history. Users can explore the whale address further by clicking the hyperlink that will take them to the etherscan page for that address.

From the current snapshot of GHO whales, we can see that the borrow share is well distributed with known addresses having minted more than 10% of the total GHO supply. Furthermore, we can see that no liquidations have happened on these addresses in the past, but some repayment. This can indicate that the current whales in the market are actively managing their risks.

Discover the GHO Risk Radar and Join the Conversation on Stablecoins
The launch of the GHO Risk Radar by IntoTheBlock represents a significant advancement in the monitoring and management of economic risks associated with stablecoins. With the inclusion of 20 comprehensive indicators, users can now navigate the DeFi space with a more informed and confident strategy.

Here are some movies about cryptocurrency and blockchain technology that you might find interesting:

Crypto (2019)

This film is about a young Wall Street banker who is demoted back to his hometown and is drawn into investigating a tangled web of corruption and fraud in Upstate New York

Bitcoin: The End of Money as We Know It (2015)

This documentary traces the history of money from the bartering societies of the ancient world to the trading floors of Wall St. It exposes the practices of central banks and the dubious financial actors who brought the world to its knees in the last crisis

The Blockchain and Us (2017)

A documentary about the blockchain, the underlying technology of bitcoin. Featuring interviews with experts in the finance and technology industries and the outlook of financial technology in the future.

Trust Machine: The Story of Blockchain (2018)

This documentary provides a comprehensive overview of how bitcoin works, as part of the blockchain technology, resulting in cryptocurrency and its possibilities: both good and evil.

Banking on Bitcoin (2016)

This documentary discusses the opposing thoughts and ideologies of individuals in the market regarding the growing usage of cryptocurrency, which, due to being decentralized, is considered to be a significant source of illegal activities like money laundering, buy/sell drugs, illegal weaponry, etc.

Bitcoin: Beyond The Bubble

This documentary explores what Bitcoin is. With the advent of Bitcoin, for the first time in history money is no longer controlled by banks or governments, but by the people who use it.

Earaser reborn 2022

Earaser reborn is an American action thriller film centers around a secret agency that specializes in engineering the fake deaths of witnesses that need to leave no trace of their existence.

Trust No One: The Hunt for the Crypto King

A group of investors-turned-sleuths try to unlock the suspicious death of cryptocurrency multimillionaire Gerry Cotten and the missing $250 million they believe he stole from them.

Come back here for more…

GPT (Generative Pre-trained Transformer) is a type of artificial intelligence (AI) that can be used to develop natural-sounding text. It can understand the context and generate coherent sentences and paragraphs, making it a helpful tool for content writing in search engine optimization (SEO).

Some of the best use cases of ChatGPT for SEO include constructing regex, creating automations, and helping with technical SEO tasks like URL optimization, multilanguage support, page speed optimization, and code analysis.

Regular expressions construction by ChatGPT

ChatGPT can be used to construct regular expressions (regex) which are sequences of characters used to find patterns within text. For example, if you want to remove all the numbers from a sentence, you can type “removes all the numbers from the sentence,” and ChatGPT will generate the RegEx code `/ [^0-9]/g` for you. There are even courses available that teach you how to build a RegEx generating dashboard using the OpenAI API and a low code solution called Retool.

Content creation using ChatGPT

ChatGPT has a wide range of use cases. Some of the most common use cases include content creation, where ChatGPT can be used to generate high-quality content for websites, blogs, or social media platforms in a few seconds. It can also be used for translation services, where it can automatically translate text from one language to another. ChatGPT can also be used to create intelligent chatbots that can converse with users in natural language. Additionally, ChatGPT can be used for coding applications such as writing code for simple or repetitive tasks, debugging code by proposing possible causes of errors and presenting solutions to resolve them, code completion by anticipating the following lines or segments of code based on the context and current code, and code refactoring by recommending methods to enhance and refine the code structure, readability, and performance.

ChatGPT Translation services

ChatGPT can be used for translation services, where it can automatically translate text from one language to another. Unlike traditional translation tools like Google Translate, ChatGPT’s interactive nature makes it a standout translation tool. With other translation tools, you provide a text, you get a translation, and that’s it. With ChatGPT, you can customize translations to suit your specific needs and provide feedback on adjustments you’d love to see². For example, you can adjust the tone and style and take into account some cultural connotations and regional differences in the meaning of words.

The bottom line

GPT can be used to develop natural-sounding text and can help with tasks such as constructing regex, creating automations, and helping with technical SEO tasks. ChatGPT can be used to construct regular expressions (regex) which are sequences of characters used to find patterns within text. ChatGPT has a wide range of use cases including content creation, translation services, creating intelligent chatbots, and coding applications such as writing code for simple or repetitive tasks, debugging code by proposing possible causes of errors and presenting solutions to resolve them, code completion by anticipating the following lines or segments of code based on the context and current code, and code refactoring by recommending methods to enhance and refine the code structure, readability, and performance. Finally, ChatGPT can be used for translation services where it can automatically translate text from one language to another and that unlike traditional translation tools like Google Translate, ChatGPT’s interactive nature makes it a standout translation tool because you can customize translations to suit your specific needs and provide feedback on adjustments you’d love to see.

Heatbit is the world’s first personal heater that mines Bitcoin. It enables anyone to support the decentralized money revolution while being rewarded for heating in bitcoin². The device looks like a high-end space heater but uses integrated circuitry to process bitcoin transactions³.

Heatbit provides a green and energy-efficient solution to cryptocurrency mining, as emitted heat is recycled to replace other heating devices in homes. Heatbit was designed to require the same energy as a regular heater, at 1,400 W, and is suitable to heat spaces of up to 170 square feet².

How Heatbit works

Heatbit is a device that combines a heater, air purifier, and Bitcoin miner in one. The powerful processors at Heatbit’s core perform trillions of complex calculations per second, earning you Bitcoin. Similar to how your computer generates heat during intense tasks, mining creates warmth that is used to heat your indoor space. All the while, advanced HEPA and carbon filters eliminate dust, smoke, pet fur, and allergens for clean, fresh air.

At full mining capacity, Heatbit Mini uses 300 watts. The energy consumed for mining turns into heat to keep you cozy on cool days (about 1023 BTU/h). For extra warmth on colder days, Heatbit offers a heating boost up to 1,300 watts (about 4433 BTU/h). During summer, when using Heatbit Mini solely for air purification, it consumes less than 50 watts.