9 Best Bitcoin Mining Pools: Legit Sites (2020 Companies)

2019 Crypto News Reviews

2019 Crypto News Reviews

As the end of 2019 draws closure, we are looking back at the most influential news items for the blockchain sector.

5–7 January

ETC 51% attack, a nightmare for small altcoins
As a top 20 crypto asset, Ethereum Classic is not seen as an easy target for a 51 percent attack, and yet in early January, its blockchain was successfully hijacked for several days with estimated losses of $1.1 million. This attack has caused many people to panic, as the small PoW consensus coins are vulnerable to 51 attacks. Luckily ETC has not been stunned by the 51 attack, after a short fall in prices, ETC quickly created a new record of the highest price.

16 January

The only not cool thing about Grin coin is its price
Grin, with the “three nada” label-no ICO, no pre-digging, and no investors, was officially launched on 16 January. “Bitcoin 2.0”, “super privacy coins”… the cryptocurrency community was willing to give it all the good crowns. After the launch of its main network, the price of Grin coin has jumped up and down as was expected. Although Grin has experienced some bad luck as the dropout of its core developer Gary, by launching of the Asic mining machine and the Grin foundation receiving 50 bitcoin donations, this unique project is still motivated to move forward.


Lightning Network passed the torch all around the world and it is only a beginning
On January 19, 2019, Bitcoinist Hodlonaut began a social experiment dubbed “Lightning Torch” to test the capabilities and UX experience of the Lightning Network. In total, the torch has been a great success. Many people believe that 2019 was the year, when the Lightning Network shined. However, its security and the ease of use were frequently challenged. Not long ago, the Bitfinex exchange announced support for Lightning Network deposits and withdrawals. This is a small step for the exchange but definitely a big step for the Lightning Network.


USDT is going to die? Nope, it is still safe and sound
New York’s top cop accused USDT’s issuer of participating in a cover-up to hide the loss of about $850 million in client and corporate funds. People have revived doubts about Tether’s claim that each of its so-called stable coins is backed by $1 of assets — a feature that gives the coins a central role in crypto markets around the world. This has made many investors switch their boats to PAX and TUSD. But up to now, dapptotal data shows that USDT still has about 81% market share.

4 June

Justin stood Warren Buffett out
Justin, Sun Yuchen, officially announced himself the winner of the charity lunch with Warren Buffett, chairman of the holding company Berkshire Hathaway, submitting a record $4.57 million on June, 4. This news has gone viral in China, making Sun a hot topic online. However, because of coming down with kidney stones, Sun decided to postponed this meal, which has made Sun again cover the headlines of the international news media.

18 June

Facebook unveils Libra White Paper
Libra was officially announced by Facebook and 27 global industry giants on June 18, 2019. With such a global attention, Libra has faced strict regulations all around the world and many global central banks have started working on digital currencies, countering Libra.
Over the past six months, after being abandoned by few of its core members of the association, Libra was forced to slow down its pace. However, worth mentioning, because of Libra, blockchain has become the focus of global attention in 2019.

1 July

PlusToken may be driving down the price of Bitcoin
In July, Chinese media reported that the PlusToken scam attracted over 3 billion worth of cryptocurrency. Six individuals connected to PlusToken were arrested in June. The stolen funds have continued to move through wallets and be cashed out through the independent OTC brokers operating mostly on the Huobi platform. It has been speculated that PlusToken sccammers didn’t just steal $2+ billion worth of cryptocurrency. They may also be driving down the price of bitcoin.

5 August

The second halving of Litecoin
Litecoin (LTC) has experienced an event that is designated to happen once in four years: the halving of the block rewards. On Aug. 5, 2019, Litecoin rewards for producing a block were halved from 25 LTC to 12.5 LTC. A co-founder of one of the largest mining pools, F2Pool, stated on Weibo that, given the electricity costs of 0.26 yuan ($0.037) per kilowatt per hour, some mining rigs like L3+ could close their business right away.

23 September

Bakkt isn’t the chosen one, but it is growing to be the one
On September 23, silver-spoon-born Bakkt was officially launched. Specialists believed that it is likely to allow more investors and funds to enter the cryptocurrency industry. However, the platform has faced a great failure and only 72 bitcoins were traded on the first day. In early December, its daily transaction volume has quietly climbed to $ 37 million from only 72 bitcoins. Although the data is still relatively small compared to the top exchanges, being a certified platform by the regulatory body helps a lot. Through the continues development, Bakkt may become the influential platform for the Bitcoin pricing power, which will empower the platform with the super power.

25 October

Xi Jinping Urges Accelerated Blockchain Technology Adoption in China
China’s President Xi Jinping has called for the country to accelerate its adoption of blockchain technologies as a core for innovation. President Xi made the comments at a Politburo Committee session on blockchain technology trends on Oct. 24, stressing that the implementation of integrated blockchain technologies is key in promoting technological innovation and transforming industries. The next day after Politburo meeting, the price of Bitcoin soared 42% to $10,500- hitting the biggest daily gain since 2011.

29 October

Chinese cryptomining giant Bitmain’s civil war breaks into open
On 29 October, the Bitmain co-founder Wu Jihan returned to the company after an absence and replaced Mr Zhan’s name on the company’s registration documents with his own. Mr Wu threatened employees with punishment if they continued to meet or communicate with Mr Zhan or carry out any of his instructions. In the past two months, Wu Jihan offered three tempting and determined mining axes: installment payments, option hedging, and joint mining.

21 November

The call of future-Canaan is listed on NASDAQ
On November 21, Canaan was listed in NASDAQ, commemorating the first share of the blockchain going public. The listing of Canaan was almost the biggest event in the blockchain industry in November. Unfortunately, CAN broke after a short rise of 40%, falling to $4.65 up to now, reaching half of its listed price. However, worth mentioning is that listing of Canaan represents that the traditional financial world has thrown an olive branch on blockchain concept stocks, marking the beginning of the long way to go.


For more information, please contact us via the following channels:
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submitted by nodepacific to u/nodepacific [link] [comments]

r/bitcoin recap - August 2017

Hi Bitcoiners!
I’m back with the eight monthly Bitcoin news recap. What an eventful month!
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in August 2017
submitted by SamWouters to Bitcoin [link] [comments]

[BCAC interview 26]From BOSCore node-stake.fish:How do PoS pools support to BOSCore eco-system and network security?

[BCAC interview 26]From BOSCore node-stake.fish:How do PoS pools support to BOSCore eco-system and network security?
BCAC is the BOSCore core governance community initiated by Node Pacific (Node name BOS Pacific).
BCAC does not have arbitration function, does not participate in governance implementation, and only does BOSCore governance training and education, aiming to build BOSCore community consensus.
In order to let the community users better understand BOSCore eco-system, we officially opened the exclusive interviews with BOSCore BPs.
[BCAC interview 26]from BOSCore node stake. Fish
On August 21, 2019, BCAC interviewed the CFO of |stake. Fish in an exclusive interview with the BCAC community.

The following is an excerpt of the highlights of the interview, compiled and published by the BCAC community:
01.Personal Introduction

The CFO in charge of marketing and brand operations.Stake. Fish is a globally famous PoS mining pool, which has supported a total of 7 high-quality public chains at present. Cosmos, with the trust from the community, is the first place, and thus the brand of stake.
02.Node Introduction

Stake. Fish was founded in the Autumn of 2018 and has grown to become a leading service provider in the Staking economy.They provide secure and reliable PoS verification services for global blockchain projects and investors.
03.Moderator Interview
Moderator: can you introduce yourself?
Now I am the CFO of stake. Fish, and I got in touch with digital currency in June 2017. In July of the same year, I took charge of brand operation and market in wallet sector.I started to be in charge of stake. fish is a semi-old chive. In 2015, I started to invest in stocks.Back into the currency circle, also just for a field to continue when the "leek."My micro blog introduction is [leek], you can follow my Weibo: Zi Yu blockchain.
I am same as many other people, who like to use "leek" ridicule themselves, this self-black way, can comfort a little of my loss of mood.And by the way, you might be wondering, isn't CFO for finance?How do you come out to market?In fact,here F for CFO is F for Fish, which translates to chief Fish officer.
Moderator: what is exactly stake. fish doing?Can you introduce the key members of your team?
Stake. Fish has about 20 members with teams distributed in 10 different time zones.Our founder Wang Chun previously co-founded f2pool, the largest bitcoin and ethereum mine pool.At present, wang chun is building validation nodes based on different PoS networks, hoping to continue to make similar important contributions to the industry in this way in new areas.
Jun Kim, operations manager, is a former economic consultant who specialises in analysing different industries and their evolution.Kris Lucera, director of infrastructure, has 18 years of experience in building and managing secure Internet infrastructure;Dasom Song, marketing director, is the little sister of blockchain web celebrity in South Korea and has rich experience in social media operation.
In general, our teams from all over the world and different fields of expertise have come together to form a multicultural technology company.

(A part of team members of stake.fish)
Moderator: Recently, Staking**, which is the business model under the PoS mechanism, has become a common word.So is Staking the value investment under the tide of PoS mining?**
Categorizing staking as a form of investment is not the right way to view PoS networks.Staking is not an investment vehicle or product but a means to contribute to the safety of the Internet and to protect the general certificate from inflation.Staking is not the same as investing. The concept is different.
Moderator: Staking is generally rewarded because of the inflationary nature of tokens. During the last round of bull and bear trading, many projects have experienced the risk of collapse and depreciation.How to find the right project layout when the market upward channel opens, and exit before the possible downward trend in the future?
Staking is definitely validation, and the rewards of validation are definitely fascinating.Because PoS mine pool is not an investment company, but a professional verification service company.What we need to do is decide which network to set up the validation node on.The process of deciding what network to support depends on a number of factors, three of which are particularly important.
First, we need to make sure that the project does address important issues and will be used by developers and users over the next decade.
Second, its well-documented economics allow us to maintain costs and sustained inputs.
Third, the project team needs to have strong technical strength and good reputation.We don't offer investment advice.People should do their own research and make careful investment decisions when choosing projects.
Moderator: How did you learn about BOSCore and why did you run for BOSCore node?
I have a deep relationship with BOSCore. One of BOSCore's advisers, super jun, is my bole.We used to work together at shinxin, and he was my leader, and I knew some of the developers and community leaders who worked for BOSCore from a very early time, and they were very close friends, and they talked to me about BOSCore from a very early time.
We really began to know BOSCore and decided to run for office in April this year, when we held a meetup with BOSCore in Bangkok, we met up with BOSCore's strength this time!But it didn't go live until this month, and it's been a long time coming.We think BOSCore has a great future and will be widely used by developers and users in the next decade.We were EOS nodes, so deploying BOSCore was a natural progression.
Moderator: What do you think is the biggest advantage of stake.fish?
Our advantages can be summarized into three simple points as below:
The first is stable global services
Teams, verification nodes, and sentinel nodes are distributed around the world.Global round-the-clock monitoring operation, always properly maintain our various verification nodes.Our team members are located in ten time zones, including the United States, Europe, southeast Asia, South Korea and Russia.We are the global village, the real 24-hour online monitoring.
The second is the deep industry foundation
Founder wang chun co-founded F2Pool, the largest integrated mine pool.In PoS field, stake. Fish has always been widely praised in the community, taking the first place in Cosmos node with solid technology and community foundation.At present, BOSCore node is also the first place, thank you for your support.
The third is continuous security
Always putting safety first, Kris, the director of infrastructure, has been working on system architecture and infrastructure security for 18 years and can select the best solutions in the industry to put into practice.
Moderator: What are your current contributions to BOSCore?
We co-organized a community meeting with BOSCore in Bangkok in April at our Bangkok office. , we have been in deep cooperation with BOSCore's community activities. Even the 3s LIB upgraded meeting was hosted by me on behalf of stake. Fish, which you may remember happened several days ago.Of course, the most important thing is to become a stable running node to protect the stable running BOSCore network, which is the most important contribution.
Moderator: How do you plan to do for BOScore in the future?What's the plan?
The community leader of BOSCore has talked with me, and I hope we can continue to cooperate and promote the global activities of BOSCore in the future.What we're doing for BOSCore right now is building communities together.This is very important, because BOSCore is still a baby, it needs more people to protect it care about it.
We also try to put tools that we developed on other chains on BOSCore networks.It takes a little bit of time, but what you can do in the short term is build communities together.
Moderator: What are your Suggestions and expectations for BOSCore ecology?
It is suggested that BOS need be launched on the exchange as early as possible. Now it can only be bought on newdex, which is really inconvenient for ordinary investors and hard core investors are not many.Why we deployed the node for so long, because it was really impossible to buy the BOS.I really look forward to BOSCore bringing real prosperity to Dapp. BOSCore is very fast and hopefully brings revolutionary products, and 3-second irreversible is 50 times faster than EOS network.3 seconds is an understatement, and most of the time it is less than 2 seconds or even 1 second. This is an awesome thing, and I am looking forward to the development of BOSCore in the next ten years.
  1. Free Disscusion
Q1: what is staking?Can you explain it to the community in the simplest way?
Staking is just a means of PoS, Staking can form an economic ecology.In this ecosystem, everyone can become a participant, and the most important places to participate are nodes and currency holders.Let's make it easier. Let's call him staking.
Q2: What is the relation between Staking and PoS?
Profit is the means not the end, and Staking is the means not the end of PoS.
Q3:How will the rise of Staking economy affect the industry ecology?
As far as I am concerned, staking economy will become the first choice for most blockchain projects, and PoW needs higher cost to ensure safety.If the PoW algorithm used by the public chain is not unique, the potential risk of being attacked by 51 cannot be ignored.Of course, to exclude bitcoin, bitcoin is the most successful case of PoW.The new public chain adopts PoS, which is much simpler and more efficient.If the PoS network wants to carry out 51 attacks, it needs to buy 51% of the currency. This attack cost is very high, which guarantees the security of the PoS network.
Question 4: From which media platforms we could know more about stake. fish and the latest development of stake.fish?
Website: https://stake.fish/en/
Wechat Public account: stakefish
Twitter: stakefish info
Cable group: https://t.me/stakefish
Twitter: https://twitter.com/stakedotfish
Welcome BOSBP who wants to get the attention of the community, contact us.
What is BCAC
BCAC is the BOSCore core governance community which is initiated by Node Pacific (Node name BOS Pacific). It does not have arbitration function, does not participate in governance implementation, and only does BOSCore governance training and education, aiming to consolidate BOSCore community consensus.
BCAC vision
BCAC hopes to advance the community building, perfecting BOSCore governance, blocks attract global chain technology and governance lovers know, participate in BOSCore, build a rich variety of BOSCore community governance communication, gradually will BOSCore gradually transition to the community governance, expanding BOSCore cohesion, mechanism of forming strong and irreplaceable consensus.
The main purpose and function of BCAC
  1. Organize discussion on problems of BOSCore in community governance;
  2. Organize BOSCore knowledge training and communication;
3.BOSCore adopts a membership system and joins as an individual, which does not represent the node.
Bospacificbp welcomes your support and votes.
submitted by nodepacific to BOSCORE [link] [comments]

Don't buy into this rally. Just a warning. Explanation inside. (/Bitcoin/ banned me for posting this)

90% of people are still 90% down.
This market is not going anywhere, anytime soon.
Before you downvote me.... just for angst or hope against getting your money back. Hear me out.
I made 500% gains in January. Got out. Warned everyone. Tether. Manipulation.
I'll buy when the stops are broken and Eth flash crashes to $0.10 again
You have to consider. It's now September. Last November 2017, Roger Ver was calling for BCH to replace BTC within 6 months. Everyone's prospect about this market has been blinding and extreme, and for the most part upside down/misguided.
When its 9 months into 2018, and were every bi-weekly up/down 30% its unjustified for the current centralized system, to invest in a speculative asset that is becoming increasingly more volatile every month. We should be seeing less volatility. The chances now, of ETF's ever happening become presumibly worse. It's dangerous for regulators to also at this point announce an ETF, just for the simple nature that it will create another positive feedback bubble loop.
I don't know where some of you guys find the extra money under the cushions and couches... to catch what is essentially a falling knife.
God speed to you if Eth is $1000 next year... but...
The technicals are so manipulated, flawed, incoherent.
RSI, MACD, Bolingers, near meaningless, and that's whats scaring away everyone.
We've only had 10 years of track history in crypto, so Im hesitant in treating the system with accurate technicals.
The stock market indices have a track history of 100+ years. After time and stability, measurements, certain indicators were introduced. Bollinger Bands, etc. Do these measurements aid in predicting where BTC or your favorite coin is going? In my opinion, no. Now, its MOMO, Social Media, and #Yacht.
Long term, sure... were still up... or anyone that bought in prior to 2017 basically. So, I guess the moving average, over 10 years - is an okay indicator, but wait....
When AMD announced earnings a few weeks ago - they made a bold statement stating their 3rd/4th quarter revenue on GPU's for crypto would be near zero. Which is a very very bearish stance.
These huge price swings are freaking everyone out. Im not gonna use the "T" word yet..... as is the political climate -- and most politicians simply won't come out and say.... Tulip Mania.
The Dutch East India Company was the largest company of its time, valued at $7.1 adjusted for inflation. All because of... spice... opium... and most of all a bubble in tulips.
I'm more inclinced to study a bubble right now, so much so than the individual coins. But, the system as a whole intrigues me. Regardless if it goes up or down.
It's already been concluded that Tether was behind December's bubble. Academics have already proven this. It's pretty settled, like climate science. Going forward, with that conclusion in mind, put yourself in SEC regulators shoes now. There are too many questions, with not enough answers. There is no transparency. The exchanges, and the transfer of USDT is causing havoc in the system. If Bitfinex is the biggest exhcange in the world by volume, and they've basically had zero banking/shady banking since April of 2017, until "the largest exchange in the world" is put in its place - I honestly just have a fatalistic viewpoint on crypto.
Coinbene pulled off the same trickery. Can you explain the BitForex volume on this picture? This is now. How would one explain this to SEC regulators? https://imgur.com/a/SsNQjFW
The majority of the members in this group are going to be long term bullish on cryptocurrency. I cant untangle that or the get quick rich mentality. The goal is to make money, but also to have discussion; on the flaws of the current marketplace. There are no assurances it will go up.
This isn't the stock market.
This isn't even OTC assets. Not saying Bitcoin or Crypto overall will go to zero. I'm only trying to ascertain my perspective, and pass it onto some of the more bullish investors. I have money in, but more or less sitting on sidelines with majority posted gains. I want to atleast share the other side of the mirror.
Unlike previous, crashes, corrections, there are certainly more variables. In the old days, you didn't have this number of alt coins. You didn't have the type of manipulation, social media advocates (Dennis Rodman; Potcoin; John McCafe). You didn't have Tether. You didn't have exchanges locked out by banks. Or government regulations, or China saying no. You definately had exchanges collapse. Back then, people still looked at Bitcoin as a growth opportunities and this futurisitic way of paying for goods. When China backed out, it changed my perception of the future. Also, everyone thought the transfer of Bitcoin would be free. Turned out, thats a big fat lie. That's why the system was basically built.
The banks and governments have crypto by the balls. And when MJ is legalized in the USA, all the PotCoin whales are just going to dump via Eth. (Joking). The only winners right now, are the exchanges (and circa this post Dogecoin). I still have not seen or heard of any winners in the decentralized era. AuraDao was supposed to be that. It's not.
Anyways, Vitalik B. was quoted the other day as saying we'll never see the 1000x folds again in our lifetime.
Meaning, if we invest today in 60 years we won't be Warren Buffet Jr. I think the overall sentiment is, (Im just speaking for the majority of people) is, people saw a technology. Then saw how the technology was exploited. In an unregulated environement. The sentinment is, unregulated currencies are fatally flawed. So, while they might stick around I think Dec 2017 was a one time only. Bitcoin rose to fame like Rhonda Rhousey. Then she lost. Sure, shes still around.. I guess. :P
~$6200'ish is the break even point for mining BTC profitably (across generational AntMiners). Just thought I'd throw that tidbit out there. You might see some strange 'floors' and 'supports' that look unnatural in the coming days.
At thats the bottom line, cause Stone Cold said so. *Glass breaks*
submitted by infectedmethod to CryptoMarkets [link] [comments]



A cryptocurrency wallet may be a secure digital wallet accustomed store, send, and receive digital currency like Bitcoin, Ethereum and other altcoins. Much the same as physical money clip stores currency, the principle reason cryptocurrency wallet is to store cryptocurrency. Since, the currency itself in digital sort, so the cryptocurrency wallet is programming meant to store them. A cryptocurrency wallet makes public key and spares the private key for each cryptocurrency and supply the equalization to the client. It might moreover talk over with customer PC code acclimated deal with those keys and to frame exchanges on blockchain. Here is the arrangement we will investigate a progressive cryptocurrency wallet platform where you can deal with your Bitcoin, Ethereum, XRP, Litecoin, XLM and more than 500 different coins and tokens in a solitary interface. Cobo Wallet was made in order to satisfy this needs and prerequisites in the blockchain ecosystem.
Cobo Wallet is the world’s leading crypto-purse company that offers Proof-of-Stake (PoS) rewards and custom workshops for custom properties, enabling users to easily increase their digital assets. COBO is definitely a pioneer in the development of similar products. It seeks to improve the current state of the market and is aimed at the rapid construction of the world-wide industrial industry. The team thinks its fans as the key to success.
As a company, Cobo emphasizes long-term security, reliability, and convenience. The key products and services reflect that vision. Altogether, Cobo offers a secure mobile billfold (Cobo Wallet), high-end cold storage wallet for advanced users (Cobo Vault), and custodial services for institutional investors. With support for over thirty totally different coins, 500 tokens, and an integrated DApp store along the way, Cobo aims to be a one-stop shop for everything crypto.


Cobo Wallet has raised $ 13 million Series A to enter the new widespread market. The round is driven by DHVC and Wu Capital, a family office arranged in China. Cobo plans to develop in the United States and Southeast Asia, especially Vietnam and Indonesia. Cobo is at present enduring pre-orders for Cobo Vault, a hardware wallet (displayed over) that he maintains to be the military assessment. Cobo's Series A passes on a total of up to 20 million USD to date.
Cobo money clip enables buyers to store each stock and verification stocks. One rousing power for people to pick applications on contenders is the ability to group confirmation assets with various customers so they can manufacture the chances of abusing and supporting new squares on the blockchain. Since its presentation not very far in the past, Cobo said its e-wallet has pulled more than 500,000 customers.
Some of the features of Cobo Wallets are described below:
All in one app: If the future user is looking for an application that offers safe storage, sales, purchases, exchanges of cryptocurrencies, and the most interesting, non-growth of the volumes of their cryptoactive assets through reliable storage.
Simple Integration: Cobo Wallet seamlessly support 30+ main chains and 700+ tokens in your apps with minimal development required. Integration can be as easy as changing one line of code.
Cobo Wallet improves the Welfare of its Users: The Cobo Company offers modern means of investing in cryptocurrency and this ensures that the welfare of users will increase which depends on the state and amount of savings in their accounts.
Reliability and Security of the Wallet: Cobo Wallet is counting on a permanent and loyal user. Therefore, she is interested in ensuring that users’ incomes grow safely and with minimal hassle. Cobo Wallet project offers on its site the most advanced management and entertainment products. These are tools for POS support, an app store, an SDK application, and more. The security of the hardware wallet itself provides for 360 degrees from any mechanical break-ins and damage. The protection of all internal and external transactions eliminates any external contact with the WiFi / Bandwith / NFC / Bluetooth network. In order to exclude any external attempts to intercept your data.
Security Next-Generation Wallet: Cobo Wallet made provision for atented banking-grade encryption chip with a specialized firmware that complies with many protocols such as the BIP 32, 39 and 44. This all ensures the permanent storage of the user’s personal key in the encryption chip. Cobo Wallet is equipped with the most powerful encryption chip used in banking adapted firmware and complies with all security protocols. The wallet possesses powerful web authentication, due to which it has the ability to almost instantly prevent hacker supply chains. The wallet will support secure data transfer. Hacker attacks on all types of networks will be completely blocked. The wallet supports many popular cryptocurrencies such as BTC, ETH, DASH, BCH, LTC, TRX, ETC, EOS, etc. Also, it ensures that the choice of design will be offered various types of enclosures.
Introducing The World’s First Military Grade Cryptocurrency: It will be a full-fledged device in safety class close to the devices intended for use in military field conditions. Cobo Wallet is a new generation of hardware wallets that meet all military standards and is also waterproof. The Cobo Wallet has a self-destruct function, after which the fraudster or the thief can no longer get any data to your digital assets.


The startup of Cobo Wallet was founded in the year 2018 by CEO Shixing Mao, who is known as Discus Fish in the cryptic community, and CTO Changhao Jiang, a former platform engineer at Facebook and Google, co-founder of Bihang, a wallet Discus Fish was acquired by OKCoin in 2013. Discus Fish, meanwhile, is known for launching F2Pool, China’s first mining tank.
So far so good, Cobo Wallet is a game changer in history of cryptocurrency…

Useful Links:
Website = https://cobo.com
Facebook = https://www.facebook.com/coboOfficial
Twitter = https://twitter.com/Cobo_Wallet
Medium = https://medium.com/cobowallet

Bitcointalk Username: doglasslim
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2265600;sa=summary
submitted by doglasslim to ICOAnalysis [link] [comments]

History Lesson for new VIA Viacoin Investors

Viacoin is an open source cryptocurrency project, based on the Bitcoin blockchain. Publicly introduced on the crypto market in mid 2014, Viacoin integrates decentralized asset transaction on the blockchain, reaching speeds that have never seen before on cryptocurrencies. This Scrypt based, Proof of Work coin was created to try contrast Bitcoin’s structural problems, mainly the congested blockchain delays that inhibit microtransaction as this currency transitions from digital money to a gold-like, mean of solid value storage. Bitcoin Core developers Peter Todd and Btc have been working on this currency and ameliorated it until they was able to reach a lightning fast speed of 24 second per block. These incredible speeds are just one of the features that come with the implementation of Lightning Network, and and make Bitcoin slow transactions a thing of the past. To achieve such a dramatic improvement in performance, the developers modified Viacoin so that its OP_RETURN has been extended to 80 bytes, reducing tx and bloat sizes, overcoming multi signature hacks; the integration of ECDSA optimized C library allowed this coin to reach significant speedup for raw signature validation, making it perform up to 5 times better. This will mean easy adoption by merchants and vendors, which won’t have to worry anymore with long times between the payment and its approval. Todd role as Chief Scientist and Advisor has been proven the right choice for this coin, thanks to his focus on Tree Chains, a ground breaking feature that will fix the main problems revolving around Bitcoin, such as scalability issues and the troubles for the Viacoin miners to keep a reputation on the blockchain in a decentralized mining environment. Thanks to Todd’s expertise in sidechains, the future of this crypto currency will see the implementation of an alternative blockchain that is not linear. According to the developer, the chains are too unregulated when it comes to trying to establish a strong connection between the operations happening on one chain and what happens elsewhere. Merged mining, scalability and safety are at risk and tackling these problems is mandatory in order to create a new, disruptive crypto technology. Tree Chains are going to be the basis for a broader use and a series of protocols that are going to allow users and developers to use Viacoin’s blockchain not just to mine and store coins, but just like other new crypto currencies to allow the creation of secure, decentralized consensus systems living on the blockchain The commander role on this BIP9 compatible coin’s development team has now been taken by a programmer from the Netherlands called Romano, which has a great fan base in the cryptocurrency community thanks to his progressive views on the future of the world of cryptos. He’s in strong favor of SegWit, and considers soft forks on the chain not to be a problem but an opportunity: according to him it will provide an easy method to enable scripting upgrades and the implementation of other features that the market has been looking for, such as peer to peer layers for compact block relay. Segregation Witness allows increased capacity, ends transactions malleability, makes scripting upgradeable, and reduces UTXO set. Because of these reasons, Viacoin Core 0.13 is already SegWit ready and is awaiting for signaling.
Together with implementation of SegWit, Romano has recently been working on finalizing the implementation of merged mining, something that has never been done with altcoins. Merged mining allows users to mine more than one block chain at the same time, this means that every hash the miner does contributes to the total hash rate of all currencies, and as a result they are all more secure. This release pre-announcement resulted in a market spike, showing how interested the market is in the inclusion of these features in the coin core and blockchain. The developer has been introducing several of these features, ranging from a Hierarchical Deterministic key (HD key) generation that allows all Viacoin users to backup their wallets, to a compact block relay, which decreases block propagation times on the peer to peer network; this creates a healthier network and a better baseline relay security margin. Viacoin’s support for relative locktime allows users and miners to time-lock a transaction, this means that a new transaction will be prevented until a relative time change is achieved with a new OP code, OP_CHECKSEQUENCEVERITY, which allows the execution of a script based on the age of the amount that is being spent. Support for Child-Pays-For-Parent procedures in Viacoin has been successfully enabled, CPFP will alleviate the problem of transactions that stuck for a long period in the unconfirmed limbo, either because of network bottlenecks or lack of funds to pay the fee. Thanks to this method, an algorithm will selects transactions based on federate inclusive unconfirmed ancestor transaction; this means that a low fee transaction will be more likely to get picked up by miners if another transaction with an higher fee that speeds its output gets relayed. Several optimizations have been implemented in the blockchain to allow its scaling to proceed freely, ranging from pruning of the chain itsel to save disk space, to optimizing memory use thanks to mempool transaction filtering. UTXO cache has also been optimization, further allowing for significant faster transaction times. Anonymity of transaction has been ameliorated, thanks to increased TOR support by the development team. This feature will help keep this crypto currency secure and the identity of who works on it safe; this has been proven essential, especially considering how Viacoin’s future is right now focused on segwit and lightning network . Onion technology used in TOR has also been included in the routing of transactions, rapid payments and instant transaction on bi directional payment channels in total anonymity. Payments Viacoin’s anonymity is one of the main items of this year’s roadmap, and by the end of 2017 we’ll be able to see Viacoin’s latest secure payment technology, called Styx, implemented on its blockchain. This unlinkable anonymous atomic payment hub combines off-the-blockchain cryptographic computations, thanks to Viacoin’s scriptin functionalities, and makes use of security RSA assumptions, ROM and Elliptic Curve digital signature Algorithm; this will allow participants to make fast, anonymous transfer funds with zero knowledge contingent payment proof. Wallets already offer strong privacy, thanks to transactions being broadcasted once only; this increases anonymity, since it can’t be used to link IPs and TXs. In the future of this coin we’ll also see hardware wallets support reaching 100%, with Trezor and Nano ledger support. These small, key-chain devices connect to the user’s computer to store their private keys and sign transactions in a safe environment. Including Viacoin in these wallets is a smart move, because they are targeted towards people that are outside of hardcore cryptocurrency users circle and guarantees exposure to this currency. The more casual users hear of this coin, the faster they’re going to adopt it, being sure of it’s safety and reliability. In last October, Viacoin price has seen a strong decline, probably linked to one big online retailer building a decentralized crypto stock exchange based on the Counterparty protocol. As usual with crypto currencties, it’s easy to misunderstand the market fluctuations and assume that a temporary underperforming coin is a sign of lack of strength. The change in the development team certainly helped with Viacoin losing value, but by watching the coin graphs it’s easy to see how this momentary change in price is turning out to be just one of those gentle chart dips that precede a sky rocketing surge in price. Romano is working hard on features and focusing on their implementation, keeping his head low rather than pushing on strong marketing like other alt coins are doing. All this investment on ground breaking properties, most of which are unique to this coin, means that Viacoin is one of those well kept secret in the market. Minimal order books and lack of large investors offering liquidity also help keep this coin in a low-key position, something that is changing as support for larger books is growing. As soon as the market notices this coin and investments go up, we are going to see a rapid surge in the market price, around the 10000 mark by the beginning of January 2018 or late February. Instead of focusing on a public ICO like every altcoin, which means a sudden spike in price followed by inclusion on new exchanges that will dry up volume, this crypto coin is growing slowly under the radar while it’s being well tested and boxes on the roadmap get checked off, one after the other. Romano is constantly working on it and the community around this coin knows, such a strong pack of followers is a feature that no other alt currency has and it’s what will bring it back to the top of the coin market in the near future. His attitude towards miners that are opposed to SegWit is another strong feature to add to Viacoin, especially because of what he thinks of F2Pool and Bitmain’s politics towards soft forks. The Chinese mining groups seem scared that once alternative crypto coins switch to it they’re going to lose leveraging power for what concerns Bitcoin’s future and won’t be able to speculate on the mining and trading market as much as they have been doing in the past, especially for what concerns the marketing market.
It’s refreshing to see such dedication and releases being pushed at a constant manner, the only way to have structural changes in how crypto currencies work can only happen when the accent is put on development and not on just trying to convince the market. This strategy is less flashy and makes sure the road is ready for the inevitable increase in the userbase. It’s always difficult to forecast the future, especially when it concerns alternative coins when Bitcoin is raising so fast. A long term strategy suggestion would be to get around 1BTC worth of this cryptocoin as soon as possible and just hold on it: thanks to the features that are being rolled in as within 6 months there is going to be an easy gain to be made in the order of 5 to 10 times the initial investment. Using the recent market dip will make sure that the returns are maximized. What makes Viacoin an excellent opportunity right now is that the price is low and designed to rise fast, as its Lightning Network features become more mainstream. Lightning Network is secure, instant payment that aren’t going to be held back by confirmation bottlenecks, a blockchain capable to scale to the billions of transactions mark, extremely low fees that do not inhibit micropayments and cross-chain atomic swap that allow transaction across blockchain without the need of a third party custodians. These features mean that the future of this coin is going to be bright, and the the dip in price that started just a while ago is going to end soon as the market prepares for the first of August, when when the SegWit drama will affect all crypto markets. The overall trend of viacoin is bullish with a constant uptrend more media attention is expected , when news about the soft fork will spread beyond the inner circle of crypto aficionados and leak in the mainstream finance news networks. Solid coins like Viacoin, with a clear policy towards SegWit, will offer the guarantees that the market will be looking for in times of doubt. INVESTMENT REVIEW Investment Rating :- A+
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The number of searches for the keyword “bitcoin” in Google reached a peak since April 2018. Stay in touch with the latest news

The number of searches for the keyword “bitcoin” in Google reached a peak since April 2018. Stay in touch with the latest news
We present to you the report filed by the analysts of our private club for November 26 — December 2, 2018.
Key market events in the period for November 26 — December 2, 2018
  1. The number of searches for the keyword “bitcoin” in Google reached a peak since April 2018.
  2. China is building a “prison on the blockchain.” Untrustworthy people (12 million people) will face restrictions related to the use of air travel and trains and the admission of their children to good kindergartens and schools. They were even denied love. No love for people with low social rating. This is going to stay for good.
  3. The German Ministry of Economics and Energy aims to use blockchains to pay taxes in order to combat fraud.
  4. In Ohio, the authorities allowed companies under the jurisdiction of the state to pay taxes and fees with bitcoins.
  5. Due to the fall in Bitcoin prices and hash rate, roughly 800,000 F2pool bitcoin miners stopped mining cryptocurrency.
  6. The Bitcoin SV team abandoned the claims on the original Bitcoin Cash chain and announced plans to focus on creating its own applications in the roadmap.
  7. NASDAQ exchange will start issuing bitcoin futures in the first half of 2019.
  8. 8.Vitalik Buterin said that the blockchain only makes sense when it comes to cross-border payments and cryptocurrencies. Other applications are a waste of time and technology potential.
  9. Vitalik Buterin was awarded an honorary doctorate of the University of Basel for achievements in the field of cryptocurrency and smart contracts.
  10. SEC Chairman Jay Clayton stated that the SEC does not consider digital currencies, including Bitcoin, as securities, but many ICOs fall under this definition.
  11. Al Hilal Bank in Abu Dhabi made a deal in the secondary market worth $500 million using Islamic sukuk blockchain bonds.
  12. SEC Chairman Jay Clayton said that before approving the launch of Bitcoin-ETF, the crypto industry should eliminate the main obstacle — market manipulation.
  13. Coinbase will launch its own OTC platform and expand its range of services in 2019.
  14. Amazon created the Amazon Managed Blockchain platform to facilitate the development of decentralized networks.
  15. An entrepreneur who installed Bitcoin ATMs in several cities of Russia was accused by the Irkutsk prosecutor’s office of money laundering and faced a fine in the amount of 50,000 rubles.
  16. On November 27, the Head of Digital Currency Group Barry Silbert said on CNBC that the ICO market is dead due to the lack of demand for the coins. He considers institutional investors’ interest in cryptocurrency a good sign.
  17. Sberbank and a company from the Interros group made the first electronic OTC repo transaction on a blockchain platform developed by Sberbank.
  18. The CEO of the Intercontinental Exchange (ICE) and Chairman of the New York Stock Exchange (NYSE) Jeffrey Sprecher is confident that cryptocurrency has a great future in regulated markets.
  19. JP Morgan and Citigroup became the first users of the payment system for mutual settlements on the blockchain CLSNet, with the support of CLS and IBM.
  20. CNBC analyst Brian Kelly: “The number of transactions is growing. If the number of transactions on the Bitcoin network was dropping, then I would have a reason to be concerned.”
2. Market analytics from club experts for November 26 — December 2, 2018
The last week restored confidence within some of the crypto traders and investors who were starting to get frustrated. BTC price bounced back to $4,200. At the beginning of the week, the total capitalization of the crypto market lost almost $10bn: it dropped from $130 billion to $120 billion, but then it steadily climbed back to $140 billion. Trading volumes amounted to $18–20 billion a day, dropping to $15 billion by the end of the week. The dominance of BTC during the last week varied from 58% to 48% and again to 58%. The price for 1 BTC dropped from $4,058 on Monday to $3,700 and bounced back to $4,150 by the end of the week. Many prophesized the fall to $3,700, reoccurrence of events of 2014 and so on.
Altcoins also dropped in price in the first half of the week, although to a much lesser extent due to being already very close to the lowest possible prices. After the BTC price started rising, the altcoins and coins from the TOP10 followed with a rapid growth. Over the next week, given a relatively stable price of the BTC, the events started to repeat themselves: some of the altcoins showed rapid growth with correction, some, together with the USDT, returned to the position before the last dump, and some grew even more.
The cryptocommunity is polarized: most forecast continued falling to $3,000 or even $1,200–1,500, and very few believe BTC would return to $5,000 or grow higher. Media personas urgently adjusted their forecasts for the end of the year in favor of the downtrend.
Most of those who bought BTC in January have already abandoned the hopes of returning their money. However, we still claim that the market reversal is inevitable. Even states have recognized the existence of cryptocurrencies and are only trying to start regulating them! Not so long ago they threatened to ban them completely! Patience and adding promising coins to the portfolio will bring you huge dividends in the future! Despite the increasingly gloomy sentiments in the community, there is no doubt about it!
3. Changes in the cost and capitalization of the TOP-10 cryptocurrencies in the period from November 26 — December 2, 2018

4. TOP-3 growing coins from the long-term portfolio for November 26 — December 2, 2018 (including portfolio updates)
Many coins have shown good growth during the specified period. The best-performing coins are Waves +52% (major development updates), Aragon ANT +47% (scheduled releases), AdEx +45% (pump?)
Want to be the first to receive news, updates from analysts and trade signals? Join @gitsupport channel and start earning with us!
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Bitcoin Mining & The Beauty Of Capitalism

Authored by Valentin Schmid via The Epoch Times,
While the price of bitcoin drops, miners get more creative... and some flourish.
The bitcoin price is crashing; naysayers and doomsayers are having a field day. The demise of the dominant cryptocurrency is finally happening — or is it?
Bitcoin has been buried hundreds of times, most notably during the brutal 90 percent decline from 2013 to 2015. And yet it has always made a comeback.
Where the skeptics are correct: The second bitcoin bubble burst in December of last year and the price is down roughly 80 percent from its high of $20,000. Nobody knows whether and when it will see these lofty heights again.
As a result, millions of speculators have been burned, and big institutions haven’t showed up to bridge the gap.
This also happened on a smaller scale in 2013 after a similar 100x run-up, and it was necessary.

Time to Catch Up

What most speculators and even some serious proponents of the independent and decentralized monetary system don’t understand: Bitcoin needs these pauses to make improvements in its infrastructure.
Exchanges, which could not handle the trading volumes at the height of the frenzy and did not return customer service inquiries, can take a breather and upgrade their systems and hire capable people.
The technology itself needs to make progress and this needs time. Projects like the lightning network, a system which delivers instant bitcoin payments at very little cost and at virtually unlimited scale is now only available to expert programmers.
A higher valuation is only justified if these improvements reach the mass market.
And since we live in a world where everything financial is tightly regulated, for better or worse, this area also needs to catch up, since regulators are chronically behind the curve of technological progress.
And of course, there is bitcoin mining. The vital infrastructure behind securing the bitcoin network and processing its transactions has been concentrated in too few hands and in too few places, most notably China, which still hosts about 70 percent of the mining capacity.

The Case For Mining

Critics have always complained that bitcoin mining consumes “too much” electricity, right now about as much as the Czech Republic. In energy terms this is around 65 terawatt hours or 230,000,000 gigajoules, costing $3.3 billion dollars according to estimates by Digiconomist.
For the non-physicists among us, this is around as much as consumed by six million energy-guzzling U.S. households per year.
All those estimates are imprecise because the aggregate cannot know how much energy each of the different bitcoin miners consumes and how much that electricity costs. But they are a reasonable rough estimate.
So it’s worth exploring why mining is necessary to begin with and whether the electricity consumption is justified.
Anything and everything humans do consumes resources. The question then is always: Is it worth it? And: Who decides?
This question then leads to the next question: Is it worth having and using money? Most people would argue yes, because using money instead of barter in fact makes economic transactions faster and cheaper and thus saves resources, natural and human.

_Merchants exchange goods with the inhabitants of Tidore, Indonesia, circa 1550. Barter was supplanted by using money because it is more efficient. (Archive/Getty Images)_If we are generously inclined, we will grant bitcoin the status of a type of money or at least currency as it meets the general requirements of being recognizable, divisible, portable, durable, is accepted in exchange for other goods and services, and in this case it is even limited in supply.
So having any type of money has a price, whether it’s gold, dollar bills, or numbers on the screen of your online banking system. In the case of bitcoin, it’s the electricity and the capital for the computing equipment, as well as the human resources to run these operations.
If we think having money in general is a good idea and some people value the decentralized and independent nature of bitcoin then it would be worth paying for verifying transactions on the bitcoin network as well as keeping the network secure and sound: Up until the point where the resources consumed would outweigh the efficiency benefits. Just like most people don’t think it’s a bad idea to use credit cards and banks, which consume electricity too.
However, bitcoin is a newcomer and this is why it’s being scrutinized even more so than the old established players.

Different Money, Different Costs

How many people know how much electricity, human lives, and other resources gold mining consumes or has consumed in the course of history? What about the banking system? Branches, servers, air-conditioning, staff? What about printing dollar notes and driving them around in armored trucks?
What about the social effects of monetary mismanagement of bank and government money like inflation as well as credit deflations? Gold gets a pass here.
Most people haven’t asked that question, which is why it’s worth pointing out the only comprehensive study done on the topic in 2014. In “An Order of Magnitude” the engineer Hass McCook analyzes the different money systems and reaches mind-boggling conclusions.
The study is a bit dated and of course the aggregations are also very rough estimates, but the ball park numbers are reasonable and the methodology sound.
In fact, according to the study, bitcoin is the most economic of all the different forms of money.
Gold mining in 2014 used 475 million GJ, compared to bitcoin’s 230 million in 2018. The banking system in 2014 used 2.3 billion gigajoules.
Over 100 people per year die trying to mine gold. But mining costs more than electricity. It consumes around 300,000 liters of water per kilogram of gold mined as well as 150 kilogram (330 pounds) of cyanide and 1500 tons of waste and rubble.
The international banking system has been used in all kinds of fraudulent activity throughout history: terrorist financing, money laundering, and every other criminal activity under the sun at a cost of trillions of dollars and at an order of magnitude higher than the same transactions done with cryptocurrency and bitcoin.
And of course, while gold has a relatively stable value over time, our bank and government issued money lost about 90 percent of its purchasing power over the last century, because it can be created out of thin air. This leads to inflation and a waste of physical and human resources because it distorts the process of capital allocation.

_The dollar has lost more than 90 percent of its value since the creation of the Federal Reserve in 1913. (Source: St. Louis Fed)_This is on top of the hundreds of thousands of bank branches, millions of ATMs and employees which all consume electricity and other resources, 10 times as much electricity alone as the bitcoin network.
According to monetary philosopher Saifedean Ammous, author of “The Bitcoin Standard,” the social benefit of hard money, i.e. money that can’t be printed by government decree, cannot even be fathomed; conversely, the true costs of easy money—created by government fiat and bank credit—are difficult to calculate.
According to Ammous, bitcoin is the hardest money around, even harder than gold because its total supply is capped, whereas the gold supply keeps increasing at about 1-2 percent every year.
“Look at the era of the classical gold standard, from 1871, the end of the Franco–Prussian War, until the beginning of World War I. There’s a reason why this is known as the Golden Era, the Gilded Age, and La Belle Epoque. It was a time of unrivaled human flourishing all over the world. Economic growth was everywhere. Technology was being spread all over the world. Peace and prosperity were increasing everywhere around the world. Technological innovations were advancing.
“I think this is no coincidence. What the gold standard allowed people to do is to have a store of value that would maintain its value in the future. And that gave people a low time preference, that gave people the incentive to think of the long term, and that made people want to invest in things that would pay off over the long term … bitcoin is far closer to gold. It is a digital equivalent of gold,” he said in an interview with The Epoch Times.
Of course, contrary to the gold standard that Ammous talks about, bitcoin doesn’t have a track record of being sound money in practice. In theory it meets all the criteria, but in the real world it hasn’t been adopted widely and has been so volatile as to be unusable as a reliable store of value or as the underlying currency of a productive lending market.
The proponents argue that over time, these problems will be solved the same way gold spread itself throughout the monetary sphere replacing copper and seashells, but even Ammous concedes the process may take decades and the outcome is far from certain. Gold is the safe bet for sound money, bitcoin has potential.
There is another measure where bitcoin loses out, according to a recent study by researchers from the Oak Ridge Institute in Cincinnati, Ohio.
It is the amount of energy expended per dollar for different monetary instruments. One dollar worth of bitcoin costs 17 megajoules to mine versus five for gold and seven for platinum. But the study omits the use of cyanide, water, and other physical resources in mining physical metals.
In general, the comparisons in dollar terms go against bitcoin because it is worth relatively less, only $73 billion in total at the time of writing. An issue that could be easily fixed at a higher price, but a higher price is only justified if the infrastructure improves, adoption increases, volatility declines, and the network proves its resilience to attacks over time.
In the meantime, market participants still value the fact they can own a currency independent of the government, completely digital, easily fungible, and limited in supply, and relatively decentralized. And the market as a whole is willing to pay a premium for these factors reflected in the higher per dollar prices for mining bitcoin.

The Creativity of Bitcoin Mining

But where bitcoin mining lacks in scale, it makes up for it in creativity.
In theory—and in practice—bitcoin mining can be done anywhere where there is cheap electricity. So bitcoin mining operations can be conducted not where people are (banking) or where government is (fiat cash) or where gold is (gold mining)—it can be done everywhere where there is cheap electricity
Some miners are flocking to the heat of the Texan desert where gas is virtually available for free, thanks to another oil revolution.
Other miners go to places where there is cheap wind, water, or other renewable energy.
This is because they don’t have to build bank branches, printing presses, and government buildings, or need to put up excavators and conveyor belts to dig gold out of the ground.
All they need is internet access and a home for the computers that look like a shipping container, each one of which has around 200 specialized bitcoin mining computers in them.
“The good thing about bitcoin mining is that it doesn’t matter where on earth a transaction happens, we can verify it in our data center here. The miners are part of the decentralized philosophy of bitcoin, it’s completely independent of your location as well,” said Moritz Jäger, chief technology officer at bitcoin Mining company Northern Bitcoin AG.

Centralized Mining

But so far, this decentralization hasn’t worked out as well as it sounds in theory.
Because Chinese local governments had access to subsidized electricity, it was profitable for officials to cut deals with bitcoin mining companies and supply them with cheap electricity in exchange for jobs and cutbacks. Sometimes the prices were as low as 2 dollar cents to 4 dollar cents per kilowatt hour.
This is why the majority of bitcoin mining is still concentrated in China (around 70 percent) where it was the most profitable, but only because the Chinese central planners subsidized the price of electricity.
This set up led to the by and large unwanted result that the biggest miner of bitcoin, a company called Bitmain, is also the biggest manufacturer of specialized computing equipment for bitcoin mining. The company reported revenues of $2.8 billion for the first half of 2018.

Tourists walk on the dunes near a power plant in Xiangshawan Desert in Ordos of Inner Mongolia, in this file photo. bitcoin miners have enjoyed favorable electricity rates in places like Ordos for a long time. (Feng Li/Getty Images)Centralized mining is a problem because whenever there is one player or a conglomerate of players who control more than 50 percent of the network computing power, they could theoretically crash the network by spending the same bitcoin twice, the so called “double spending problem.“
They don’t have an incentive to do so because it would probably ruin the bitcoin price and their business, but it’s better not to have to rely on one group of people controlling an entire money system. After all, we have that exact same system with central banking and bitcoin was set up as a decentralized alternative.
So far, no player or conglomerate ever reached that 51 percent threshold, at least not since bitcoin’s very early days, but many market participants always thought Bitmain’s corner of the market is a bit too close for comfort.
This favorable environment for Chinese bitcoin mining has been changing with a crack down on local government electricity largess as well as a crackdown on cryptocurrency.
Bitcoin itself and mining bitcoin remain legal in China but cryptocurrency exchanges have been banned since late 2017.
But more needs to be done for bitcoin to become independent of the caprice of a centralized oppressive regime and local government bureaucrats.

Northern Bitcoin Case Study

Enter Northern Bitcoin AG. The company isn’t the only one which is exploring mining opportunities with renewable energies in locations other than China.
But it is special because of the extraordinary set up it has for its operations, the fact that it is listed on the stock exchange in Germany, and the opportunities for scaling it discovered.
The operations of Northern Bitcoin combine the beauties of bitcoin and capitalism in one.
Like Texas has a lot of oil and free gas and it makes sense to use the gas rather than burn it, Norway has a lot of water, especially water moving down the mountains due to rainfall and melting snow.
And it makes sense to use the power of the movement of the water, channel it through pipes into generators to create very cheap and almost unlimited electricity. Norway generates north of 95 percent of its total electricity from hydropower.

A waterfall next to a hydropowerplant near Sandane, Norway, Oct. 25, 2018. (Valentin Schmid/The Epoch Times)Capitalism does not distinguish between renewable and fossil. It uses what is the most expedient. In this case, it is clearly water in Norway, and gas in Texas.
As a side note on the beauties of real capital and the fact that capital and the environment need not be enemies, the water in one of the hydropowerplants close to the Northern Bitcoin facility is piped through a generator made in 1920 by J.M. Voith AG, a company from Heidenheim Germany.
The company was established in 1867 and is still around today. The generator was produced in 1920 and is still producing electricity today.

Excess Power

In the remote regions of Northern Norway, there aren’t that many people or industry who would use the electricity. And rather than transport it over hundreds of miles to the industrial centers of Europe, the industries of the future are moving to Norway to the source of the cheap electricity.
Of course, it is not just bitcoin mining, but other data and computing heavy operations like server farms for cloud computing that can be neatly packaged into one of those containers and shipped up north.
“The containers are beautiful. They are produced in the middle of Germany where the hardware is enabled and tested. Then we put it on a truck and send it up here. When the truck arrives on the outside we lift it on the container vehicle. Two hours after the container arrives, it’s in the container rack. And 40 hours later we enable the cooling, network, power, other systems, and it’s online,” said Mats Andersson, a spokesman for the Lefdal Mine data center in Måløy, Norway, where Northern Bitcoin has its operations. Plug and play.

A Northern Bitcoin data container inside the Lefdal Mine data center, in Måløy, Norway. (Northern Bitcoin)If the cheap electricity wasn’t enough—around 5 cents per kilowatt hour compared to 17 cents in Germany—Norway also provides the perfect storage for these data containers, which are normally racked up in open air parks above the ground.
Also here, the resource allocation is beautiful. Instead of occupying otherwise useful and beautiful parcels of land and nature, the Northern Bitcoin containers and others are stored in the old Lefdal olivine mine.
Olivine is a mineral used for steel production and looks green. Very fitting. Hence also the name of the data center: Lefdal Mine.
“We take the green mineral out and we take the green IT in,” said Andersson.

Efficiency, Efficiency

Using the old mine as storage for the data center makes the whole process even more resource efficient.
Why? So far, we’ve only been talking about bitcoin mining using a lot of energy. But what for? Before you have actually seen the process in action—and it is similar for other computing operations—you cannot imagine how bizarre it is.
Most of the electricity is used to prevent the computers from overheating. So it’s not even the processors themselves; it’s the fans which cool the computer that use the most juice.
This is where the mine helps, because it’s rather cool 160 meters (525 feet) below sea level; certainly cooler than in the Texas desert.
But it gets even better. On top of the air blow-cooling the computer, the Lefdal data center uses a fresh water system to pump through the containers in pipes.
The fans can then circulate air over the cool pipes which transfer the heat to the water. One can feel the difference when touching the different pipes.
The fresh water closed circle loop then completes the “green” or resource efficiency cycle by transferring its heat to ice cold water from the nearby Fjord.
The water is sucked in through a pipe from the Fjord, the heat gets transferred without the water being mixed, and the water flows back to the Fjord, without any impact on the environment.
To top it all off, the mine has natural physical security far better than open air data centers and is even protected from an electromagnetic pulse blast because it’s underground.

_The Nordfjord near Måløy, Norway. The Lefdal data center takes the cold water from the fjord and uses it to cool the computer inside the mine. (Valentin Schmid/The Epoch Times)_Company Dynamics

Given this superlative set up, Northern Bitcoin wants to ramp up production as fast as possible at the Lefdal mine and other similar places in Norway, which have more mountains where data centers can be housed.
At the moment, Northern Bitcoin has 15 containers with 210 mining machines each. The 15 containers produce around 5 bitcoin per day at a total cost of around $2,500 dollars at the end of November 2018 and after the difficulty of solving the math problems went down by ~17 percent.
Most of it is for electricity; the rest is for leasing the containers, renting the mine space, buying and writing off the mining computers, personnel, overhead, etc.
Even at the current relatively depressed prices of around $4000, that’s a profit of $1500 per bitcoin or $7,500 per day.
But the goal is to ramp it up to 280 containers until 2019, producing 100 bitcoin per day. Again, the company is in the sweet spot to do this.
As opposed to the beginning of the year when one could not procure a mining computer from Bitmain even if one’s life depended on it, the current bear market has made them cheap and relatively available both new and second had from miners who had to cease operations because they can’t produce at low bitcoin prices.

Northern Bitcoin containers inside the Lefdal Mine data center in Måløy, Norway. (Northern Bitcoin)What about the data shipping containers? They are manufactured by a company called Rittal who is the world market leader. So it helps that the owner of Rittal also owns 30 percent of the Lefdal mine, providing preferential access to the containers.
Northern Bitcoin said it has enough capital available for the intermediate goal of ramping up to 50 containers until the end of year but may tap the capital markets again for the next step.
The company can also take advantage of the lower German corporate tax rate because revenue is only recorded when the bitcoin are sold in Germany, not when they are mined in Norway.
Of course, every small-cap stock—especially bitcoin companies—have their peculiarities and very high risks. As an example, Northern Bitcoin’s financial statements, although public, aren’t audited.
The equipment in the Lefdal mine in Norway is real and the operations are controlled by the Lefdal personnel, but one has to rely on exclusive information from the company for financials and cost figures, so buyer beware.

Norway Powerhouse?

Northern Bitcoin wants to have 280 containers, representing around 5 percent of the network’s computing power.
But the Lefdal mine alone has a capacity to power and cool 1,500 containers in a 200 megawatt facility, once it is fully built out.
“Here you have all the space, power, and cooling that you need. … Here you can grow,” said Lefdal’s Andersson.

A mine shaft in the Lefdal Mine data center in Måløy, Norway. The whole mine will have a capacity for 1500 containers once fully built out. (Valentin Schmid/The Epoch Times)The Norwegian government was behind an initiative to bring computing power to Norway and make it one of the prime destinations for data centers at the beginning of this decade.
To that effect, the local governments own part of the utility companies which operate the power plants and own part of the Lefdal Mine and other locations. But even without notable subsidies (i.e. cash payments to companies), market players were able to figure it out, for everybody’s benefit.
The utilities win because they can sell their cheap electricity close to home. The computing companies like IBM and Northern Bitcoin win because they can get cheap electricity, storage, and security. Data center operators like Lefdal win because they can charge rent for otherwise unused and unneeded space.
However, in a recent about face, the central government in Oslo has decided to remove cryptocurrency miners from the list of companies which pay a preferential tax rate on electricity consumption.
Normally, energy intensive companies, including data centers, pay a preferential tax on electricity consumed of 0.48 øre ($0.00056 ). According to a report by Norwegian media Aftenposten, this tax will rise to 16.58 øre ($0.019) in 2019 for cryptocurrency miners exclusively.
The argument by left wing politician Lars Haltbrekken who sponsored the initiative: “Norway cannot continue to provide huge tax incentives for the most dirty form of cryptocurrency output […] [bitcoin] requires a lot of energy and generates large greenhouse gas emissions globally.”
Since Norway generates its electricity using hydro, precisely the opposite is true: No greenhouse gas emissions, or any emissions for that matter would be produced, if all cryptomining was done in Norway. As opposed to China, where mining is done with coal and with emissions.
But not only in Norway is the share of renewable and emission free energy high. According to research by Coinshares, Bitcoin’s consumes about 77.6 percent of its energy in the form of renewables globally.
However self-defeating the arguments against bitcoin mining in Norway, the political initiative is moving forward. What it means for Northern Bitcoin is not clear, as they house their containers in Lefdal’s mixed data center, which also has other clients, like IBM.
“It’s not really decided yet; there are still big efforts from IT sectors and parties who are trying to change it. If the decision is taken it might apply for pure crypto sites rather than mixed data centers, like ours,” said Lefdal’s Andersson.
Even in the worst-case scenario, it would mean an increase from ~5 cents to ~6.9 cents per kilowatt hour, or 30 percent more paid on the electricity by Northern Bitcoin, which at ~$3250 would still rank it among the most competitive producers in the world.
Coinshares estimates the average production price at $6,800 per Bitcoin at $0,05 per kilowatt hour of electricity and an 18-months depreciation schedule, but concedes that a profitable miner could “[depreciate] mining gear over 24-30 months, or [pay] less for mining gear than our estimates.”
Jäger says Northern Bitcoin depreciates the equipment over three years and has obtained very favorable prices from Bitmain, making its production much more competitive than the average despite the same cost of electricity. In addition, the natural cooling in the mine also reduces electricity costs overall.

Cheap Producer Advantage

At the moment, however, the tax could be the least of any miners worry, as the bitcoin price is in free-fall.
But what happens when the price crashes further? Suffice it to say that there was bitcoin mining when the dollar price was less than 1 cent and there will be bitcoin mining at lower prices thanks to the design of the network.
Mao Shixing, the founder of mining pool F2pool estimated 600,000 miners have shut down since the November crash in price, according to a report by Coindesk.
As it should be in a competitive system, the most energy intensive and obsolete machines are shut down first.
As with every other commodity, when the price drops, some miners will leave the market, leaving space for cheaper competitors to capture a bigger share. But with bitcoin this is a bit simpler than with copper or gold for example.
When a big copper player goes bankrupt, its competitors have to ramp up production and increase cost to increase their market share. With bitcoin, if 3,000 computers get taken off the total mining pool, they won’t be able to mine the approximately 5 bitcoin any longer.
However, because the difficulty of solving the computationally intensive cryptographic tasks of bitcoin decreases automatically when there are fewer computers engaged in the task, the other players just have to leave their machines running at the same rate for the same cost and they will split the 5 bitcoin among them.
“The moment the price goes down, our production price will go down as well,” said Jäger, a process that already happened from November to December when the difficulty decreased twice in November and the beginning of December.
This naturally favors players like Northern Bitcoin, which are producing at the lower end of the cost spectrum. They will be the ones who shut down last.
And this is a good thing. The more companies like Northern Bitcoin, and countries like Norway—even with the extra tax—the more decentralized the bitcoin system.
The more computers there are in different hands mining bitcoin, the more secure the system becomes, because it will be ever more difficult for one player to reach the 50 percent threshold to crash the system. It is this decentralized philosophy which has kept the bitcoin system running for 10 years. Whether at $1 or $20,000.
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What is the Best Litecoin Mining Pool ? F2Pool - Prohashing - Antminer L3+ Bitcoin mining facility in Reykjanesbær, Iceland (F2Pool) (r/Bitcoin #471) The Bitcoin Group #157 - SEC again - Bitcoin $5000 - Lightning vs. Nothing - F2Pool joins #NO2X Litecoin Miners A4-135 performance in the F2POOL mine pool Bitcoin Investment - YouTube

F2Pool was originally launched in 2013 in Beijing. Due to its popularity, it soon expanded to other continents. The service is now available in Russia, Canada, and the United States, among other countries. Today, with 17.5% of the market in its control, F2Pool is the second-largest Bitcoin mining pool on the market. That makes PoolIn the second largest bitcoin mining pool, close behind F2Pool with around 19 EH/s of hashing power. “[A] mining pool is a traffic business and it is getting more and more ... F2Pool Predicts Bitcoin Mining “Shutdown Price” But Hash Rate Steady. 10/02/2019 - 18:45. Bitcoin Block Size, Explained. 07/24/2019 - 09:21 . Miner Goes Bankrupt, Manufacturers Stuck With Inventory, Rigs ‘Sold By Kilo’ as Scrap. 11/22/2018 - 22:00. Major Mining Pool F2Pool Publishes List of Minimum Prices for Profitable Crypto Mining. 09/07/2018 - 23:09 ; Page 1 ›› Submit a guest ... May 13, 2020 at 20:32 UTCUpdated May 13, 2020 at 21:12 UTC‘History Has Repeated’: F2Pool Explains Message in Last Block Before Bitcoin HalvingUshering in bitcoin's third "halving," by far the most highly awaited cryptocurrency event of the year, mining pool F2Pool rooted a mysterious message into the blockchain that will now reside there forever.Preceded by… For the Bitcoin community in both the East and West, the halving was also a moment to celebrate the meaning of Bitcoin and why we are all here: f2pool celebrated the final block of the 12.5 epoch by recording The New York Times headline: “NYTimes 09/Apr/2020 With $2.3T Injection, Fed’s Plan Far Exceeds 2008 Rescue.” into the block, paying tribute to the message of Satoshi Nakomoto in the ...

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What is the Best Litecoin Mining Pool ? F2Pool - Prohashing - Antminer L3+

Chamath Palihapitiya interview: Bitcoin Halving, Tesla Stock, BTC 2020, Crisis Chamath Palihapitiya 175,139 watching Live now SEC Considering ETHEREUM 2.0 a SECURITY Due To STAKING! Mad Bitcoins [NO2X] on Twitter: "@DJ_Erock23 @moonkin48 @jgarzik @ToneVays @TechBalt @adam3us @eric_lombrozo @TraceMayer @fluffypony @jimmysong sure. you can say whatever you want. But in the real ... How is the Stock Price Determined? Stock Market for Beginners (Part 1) ... How to mine bitcoin F2Pool with antminer - F2Pool worker tutorial - Duration: 7:17. DudeTV 6,730 views. 7:17 ... #Stock #Chart #Analysis #BTC #ETH Bitcoin Investment uploaded a video 10 months ago 30:41 😱 10 ... #F2Pool #Lets #Bitcoin #Miners #Vote #on #Classic Bitcoin Investment uploaded a video 11 ... What is the best or most profitable mining pool? Specifically Litecoin mining pool or a scrypt based multi-coin mining pool that the bitmain antminer L3+ can mine on. I showcase my results with ...