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Cheating scandals hit worlds of chess, fishing, beauty – NewsNation Now

(NewsNation) Contestant 747 was voted the fattest bear of them all for the third time in a row in the Fat Bear Week competition at Alaskas Katmai National Park, but organizers of the online contest say hundreds of spam votes almost ruined the contest.

Contestant 747, affectionately known as Bear Force One by fans, won the competition, but Bear 543 Holly almost won thanks to the ballot stuffers. Holly received so many votes so quickly that vote organizers figured something was up, said Katmai National Park Ranger Keith Moore.

The thing to remember is that all the bears are ultimately winners here, Moore said. Its pretty exciting to see how fat these bears get, its really important for them to put on as much fat as possible before hibernation. So yeah, this was a very weird turn of events but ultimately all these bears are winners is our eyes.

Thankfully, the so-called ballot stuffing was caught in time for Fat Bear Week, which is more than can be said for the Lake Erie Walleye Trail Championship.

Jacob Runyan, 42, and 35-year-old Chase Cominsky made it to first place in the fishing tournament before judges noticed the weights in their catch.

Theyre now facing several charges, including cheating and attempted grand theft.

Meanwhile, in the world of chess, 19-year-old Hans Neimann was accused of cheating in a major competition last month. Some say Neimann used software that told him the best move. While Neimann has admitted to online cheating in the past, he says he did not cheat in the match that launched the investigation.

And producers of this years Miss USA competition were suspended as executives look into accusations the beauty pageant was rigged. RBonney Gabriel, a 28-year-old participant, was crowned earlier this month. But many contestants say she had an unfair advantage by working with pageant sponsors in the past and even knew one of the judges.

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First transgender woman plays on the Canadian Olympiad women’s chess team – The Globe and Mail

Morgen Mills of Newfoundland made history this summer when she became the first transgender woman to represent Canada at an international chess competition.

Mills, who transitioned two years ago, was invited to play on the Canadian womens team at the Olympiad in Chennai, India. She scored five wins, three losses and three draws to help her team to a successful finish.

It was absolutely a privilege and an honour to do it, said Mills, Newfoundlands top-rated chess player.

The Olympiad features an open section along with a separate womens group, and Mills admits to some trepidation about how her participation would be received. But the international chess federation leaves the selection process to national organizations, and the Chess Federation of Canada fully supported her placement on the team.

Mills began playing chess as a kid and eventually achieved an Expert rating. Living in Goose Bay, she says there arent many opportunities to compete in major events, and this was her first experience in a womens-only tournament.

While she isnt aware of other transgender chess players, she says: There are probably plenty of us, and LGBTQ chess players in general. She hopes to continue competing in womens events in the coming years.

White played 8.Nxe5, because Bxe5 then 9.Qh5+.

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Turkey triumphs at the FIDE World Youth U-16 Chess Olympiad 2022 – FIDE

FIDE World Youth U-16 Chess Olympiad 2022 finished in Nakhchivan, Azerbaijan, on October 10. The 9-round Swiss tournament with classical time control brought together 34 teams from 22 countries.

The fifth-rated Turkiye-Red swept the field, winning the event with one round to spare. The FM Eray Kilic (2428, board 1)won all the matches. Both FM Hasan Huseyin Celik (2323) and FM Taha Ozkan (2299) had a fantastic event, scoring 8 and 7,5 points, respectively, and showing the best result on Boards 2 and 3. WFM Gulenay Aydin (2109) and Hatice Asli Mustu (1896), on boards four and five, also contributed to the overall success.

Uzbekistan-1 claimed silver medals. Led by IM Mukhiddin Madaminov, they won 7 matches, including important victories overIndia and Kazakhstan, and made one draw with eventual bronze-medalists Azerbaijan-1. Board 2 of the Uzbekistan team, FM Khumoyun Begmuratov, scored an impressive 8 out of 9.

Azerbaijan-1 lost two matches and thus could only settle for third place. Apart from losing to Turkey-Red (like any other team), the host nation's teenagers were also defeated by Kazakhstan. All team members showed balanced performance, while Narmin Abdinova (1810, board 6) stood out with 7 out of 8 - the best performance on board 6.

Initially among top-3 rated teams, Iran and India did not have the best event, finishing 6th and 5th, respectively. Nevertheless, the leader of the Indian team, IM Pranav V, showed the best performance on board 1, with a performance rating of 2615. Iran's board 4, FM Sina Movahed, also won his board's competition, but this was not enough for the overall team's success. Kazakhstan, which narrowly missed the podium, can boast of the best Board 5 performance accomplished by CM Sauat Nurgaliyev.

Final Standings, top 10 teams:

Photos: Turkish Chess Federation (Twitter@TurkishChess), and Youth Olympiad Instagram @wyco2022nakhchivan

Official website:youtholympiad.fide.com

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Bitcoin recovers above $19,000 after finding a new low for the month – CNBC

Golden Bitcoin coins.

Tsokur | Getty Images

Cryptocurrency prices rebounded Thursday after sliding to new October lows following the release of a key U.S. inflation reading that came in hotter than expected.

The price of bitcoin was last higher by 1.3% at $19,388.89and ether lost 0.7% to trade at $1,289.20, according to Coin Metrics. Earlier in the day they fell as low as $18,201.00 and $1,192.80, respectively.

Bitcoin dropped below $19,000 early on Thursday as investors anxiously awaited the latest read on the consumer price index. It fell more sharply after the report came in, showing a slightly larger-than-expected increase in inflation, despite the aggressive rate hikes the Federal Reserve has brought into play to combat rising prices.

Cryptocurrencies have been trading mostly sideways since the end of August, with bitcoin hovering within $19,000. That's been a key level to watch for analysts, who say a break below it could lead to new lows below those hit in June, when bitcoin fell below $17,800 and ether fell under $900.

"Crypto markets are still overwhelmingly driven by macro. Bitcoin continues to trade within a tight range since June," said Michael Rinko, venture associate at AscendEx. "However, today's CPI print may threaten to break this range to the downside."

By noon crypto recovered with the stock market. Still, Steve McClurg, chief investment officer at Valkyrie investments, said the market's initial reaction was to be expected with high inflation suggesting to investors that the Fed will continue with its planned rate hikes.

"Given what we know about Powell's stated goal right now, and the fact that we are in what appears to be a deep recession, it makes sense that we'd be down today," he said. "We firmly believe that markets still have not yet reached a bottom, and that there's still likely another 10% to 15% leg down for digital assets, and even more for equities," he added.

Elsewhere in the market, bond yields moved higher following the inflation report, which put initially put pressure on crypto equities. Rising rates make future profits, like those promised by growth companies, less attractive.

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Bitcoin Mining Reserves Are at a 12-Year LowHeres Why – Decrypt

The amount of Bitcoin held in reserve by mining companies has fallen to lows not seen since February 2010, according to blockchain analytics firm IntoTheBlock. And thats been true for most of this year.

As of Wednesday afternoon, Bitcoin miners have 1.91 million BTC in their wallets, according to IntoTheBlock. Bitcoin miner reserves have been above the 2 million BTC markfirst surpassed on February 19, 2010for only 46 days since the start of 2022. This illustrates the impact of miners selling their Bitcoin throughout the year, at times selling more in a month than they mined, to compensate for profits that have dwindled as the market has suffered.

IntoTheBlock uses a machine learning algorithm to identify miner wallet addresses and tracks their holdings, including wallets linked to miners or mining pools that accumulate BTC but dont actively mine it. The aggregate of the BTC held in those wallets makes up the analytics firms miner reserve metric.

For reserves to have stayed below the 2 million BTC mark as often as they have this year underscores how dire things have been for the industry. Bitcoin miner reserves initially took a dive below 2 million in July last year on news of the mining crackdown in China, but that figure later bounced back.

The pain this year has been more drawn out.

Companies that borrowed millions against their mining equipment, like CleanSpark and Argo, have seen month after month of losses.

Last month alone, Compute North filed for bankruptcy, Iris Energy sold $100 million in equity to generate some cash, Compass Mining shut down its Georgia operations and one of the largest Bitcoin mining pools, Poolin, froze withdrawals.

The last time that miner reserves were this low was a very different time for Bitcoin. In 2010, the cryptocurrency had only been released as open-source software a year prior, a few months after creator Satoshi Nakamoto published a white paper describing how the peer-to-peer electronic cash worked.

Bitcoin was first exchanged for U.S. dollars in 2009 on the New Liberty Standard Exchange, when $5.21 could buy 5,050 BTC. At today's prices, that amount of BTC would be worth almost $97 million.

The Bitcoin mining industry was in its infancy, too. Computer programmer Hal Finney received the worlds first Bitcoin mining reward of 10 BTC for mining block-70 on January 12, 2009. And for a while, miner reserves represented a sizable share of the Bitcoin that was in circulation.

On the day when miner reserves first surpassed 2 million in February 2010, for example, miners held one in every five Bitcoin that had ever been created. Bitcoin miners' share of coins in circulation has now dipped below 10%.

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Bitcoin firm NYDIG lays off about a third of employees – WSJ – Reuters

Oct 13 (Reuters) - Bitcoin company NYDIG laid off about a third of its workforce last month to cut costs, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

NYDIG, a unit of Stone Ridge Holdings, operates a full-stack bitcoin platform which delivers the cryptocurrency across industries including financial technology, insurance and banking.

The company laid off around 110 people on Sept. 22, weeks before replacing its top two executives, the WSJ reported.

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NYDIG did not immediately respond to a Reuters request for comment.

Earlier this month, NYDIG appointed Tejas Shah as its chief executive officer and Nate Conrad as president. The company said its bitcoin balances almost doubled from a year earlier to hit all-time highs in the third quarter.

Last year, NYDIG raised $1 billion in a funding round led by venture firm WestCap with participation from existing investor Bessemer Venture Partners, valuing the bitcoin company at more than $7 billion. read more

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Reporting by Rittik Biswas in Bengaluru; Editing by Subhranshu Sahu

Our Standards: The Thomson Reuters Trust Principles.

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NFTs will be ‘as disruptive’ as Bitcoin was 10 years ago Kraken exec – Cointelegraph

Nonfungible token (NFT) trading volumes may have dropped nearly 98% since January, but several industry executives tell Cointelegraph that its nothing to fear as the technology continues to develop and mature.

Jonathon Miller, managing director of cryptocurrency exchange Kraken in Australia, said despite NFT market activity and sales volume having slowed down in September, we are still seeing positive adoption signals at an institutional level and continued growth in use cases.

He told Cointelegraph that the company remains bullish on the NFT space and believes it will be just as disruptive and innovative as Bitcoin was 10 years ago. Moreover, he said he was particularly intrigued by JPMorgan signing a lease using the technology as well as hearing the news that the Vatican has opened an NFT gallery.

He, however, acknowledged that the NFT industry is still in its infancy and that the biggest barrier to mass adoption is nightmare user experiences, saying that it is very hard to say to someone who wants digital art, that you have to install a wallet and you have to onboard with that exchange.

The Kraken executive said it has been a priority for them to make that process smoother.

John Stefanidis, CEO and founder of NFT gaming platform Balthazar DAO, told Cointelegraph that the trading downfall is not significant in the grand scheme of NFTs as people need to understand that NFTs are more than just photos.

Stefanidis said its natural for this decline to happen after something has experienced extreme growth under one application.

He believes this has the potential to stabilize the market more, saying that whenever there is horizontal growth, people diversify and pull back, and were going to see a more gradual growth in NFTs.

Related Reading: Web3 gaming still a long way from mainstream adoption: Survey

Mason Edwards, chief commercial officer of Tezos Foundation an organization focused on promoting and developing the Tezos blockchain and related technologies told Cointelegraph that its beneficial the market has shaken out a bit, people will buy things they care about, rather than speculation, noting:

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Bitcoin (BTC) Trader Who Called 2022 Market Crash Says Now Is Not the Time To Be Bearish – The Daily Hodl

The widely followed Bitcoin (BTC) analyst who predicted the king cryptos current fall from all-time highs says today is not the day for a bearish outlook.

Pseudonymous trader Capotellstheir 550,600 followers that they are bullish on Bitcoin in the near future.

Im still bullish short-term. This is not the time to be bearish in my opinion.

Caposeessimilarities between the largest crypto by market caps current price behavior and that of 2018, the last major BTC bear market.

BTC in 2018 vs. BTC now.

With Bitcoin currently dumping 4% in the last 24 hours, Capo now foresees an imminent short squeeze, which occurs when a sudden price spike causes BTC short sellers to buy more to avoid greater losses.

Short squeeze is gonna be glorious.

Updating his followersthis morning, Capo is sticking to his guns, calling a possible shot to $21,000.

I didnt expect this move to go this low. In fact I expected the bounce to come earlier.

With this being said, SPX [Standard & Poors 500 Index] is pumping and DXY [US Dollar Index] dumping. BTC still at support. This could be a massive bear trap.

Bounce to $21,000 is still in play. Invalidation on chart.

Finally, Capodraws his bull line in the sand.

A reclaim of $19,000 would be very bullish.

Bitcoin is trading for $19,018 at time of writing.

Featured Image: Shutterstock/happyframe/Sol Invictus

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Billionaire Mike Novogratz Forecasts How Long the Bitcoin and Crypto Bear Market Will Last – The Daily Hodl

Galaxy Digital CEO Mike Novogratz is updating his outlook on the future of the current bear market and the crypto markets as a whole.

Novogratz says in a Yahoo Finance interview that Bitcoin (BTC) and other crypto assets are likely to rally once the Federal Reserve pauses its monetary tightening measures.

According to the Galaxy Digital CEO, the crypto market selloff was caused by the Federal Reserve hiking interest rates.

Since the Fed has decided to try to smash inflation by raising rates aggressively, the most aggressive rate-raising in our lifetime, Bitcoin sold off with other assets. Its actually done better than most.

I think if you finally get the pause, you will start seeing Bitcoin pick back up. Bitcoin and all cryptocurrencies.

Are we going to get the pause? At one point, yes.

On when the crypto downturn could end, Novogratz says that the prevailing bear market could last up to six more months.

You know the bear case is weve got two to six months left of this pain. The bull case is the market starts breaking. And were seeing a lot of breakage. Not necessarily in crypto but in the rest of the world.

According to the Galaxy Digital CEO, sellers in the crypto market are largely exhausted.

Cryptos interesting in that three months ago, after the big selloff and the deleveraging, most people that needed to sell sold.

And so youve seen price is much more muted. Things take off when theres a good story and they sell right back off when the story goes away.

And so a lot less activity in crypto, a lot less for sellers. But also a lot less new buyers.

I

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Bitcoin: Before you make your next trade in October, read this – AMBCrypto News

The last four months have been marked by a boring price action from the leading coin, Bitcoin [BTC], data from on-chain intelligence platform Santiment revealed. In the past few weeks, BTCs price oscillated strangely between the $19,000 price region and the psychological $20,000 price region.

Noticeably, the king coin has been increasingly less volatile in the past few weeks. Glassnode, in a recently published report, compared BTCs performance with that of the broader financial markets. It found that,

Recent weeks have seen an uncharacteristically low degree of volatility in Bitcoin prices, in stark contrast to equity, credit, and forex markets, where central bank rate hikes, inflation, and a strong US dollar continue to wreak havoc.

According to Santiment, this decline in volatility could be attributed to the lack of whale presence in the BTC market. The count of BTC whale transactions that exceed $100,000 and $1 million also declined nearly to a two-year low, data from Santiment revealed.

A persistent fall in BTCs volatility has been partly induced by the lack of whale presence in the BTC market. This aimed to signify attempts by investors to establish a bear market floor. A look at the assets supply on exchanges supported this position.

According to data from Santiment, BTCs supply on exchanges dropped by 13% in the past four months. The percentage of the coins total supply on exchanges fell from 10.10% to 8.72% between June and October.

The decline in BTCs supply on exchanges was an indication that buying pressure for the asset rallied in the period under consideration.

While this ordinarily should aid a price uptick, the downtrodden nature of the broader financial markets made it impossible for the price of BTC to rise significantly.

While the fall in BTCs supply on exchanges might have indicated a rally in buying pressure in the past four months, a look at the assets Mean Dollar Invested Age (MDIA) revealed that the BTC network was plagued by an increasing repository of dormant coins.

Data from Santiment also showed that BTCs MDIA has been on a long stretch upward in the past four months showing stagnancy on the network.

However, for the king coin to see any significant price action, a fall in MDIA is required. This will mean that previously dormant coins have started to change hands.

According to Bloomberg, October, historically, has been a good month for BTC.

The virtual currency tends to rise roughly 25% in October and has, since 2015, advanced more than 85% of the time during it.

Investors hoping for a respite may thus have something to rejoice about.

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