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Roque Solis, president of the SoliSYSTEMS corp, never fictionalized that bitcoin mining equipment he credited in February would have already paid for itself and made money as well. SoliSYSTEMS Corp is a company which developed an EMV smart cards for electronic advantage transfer for the federal backing program.

Solis was powerless to ignore bitcoin by attending a number of conferences. So, he decided to do experiment new technology via mining. He wants to get the better handle on the technology, whether this technology has the ability to use in this company or not?

Then, Solis bought a Bitmain Antminer S9 for $2,400.

As a result, he mined 1.01BTC worth $2,584 in Bitcoin wallet, on this weekend. Solis said, “When I bought the miner, the price per bitcoin was around $1,200. I thought I’d break even in one year, but actually, it’s been about five months.”

This gain indicates that individual hobby mining is not profitable anymore. Distinct miners don’t have the capacity to compete with the companies in mining bitcoins. with the $600 below price, electricity and pool fees, a person needs 500 days to break even on miner investment.

Furthermore, the rise in awareness about the mining pool, the price is also getting higher. Solis’s experience shows that hobby miner can break even within few months.

According to the Solis, money’s amount is increased on daily basis with miner’s jump from $7 to $16 freshly.

Price Substances:

According to the Sean Walsh, rising price of the bitcoins motivates the investing behavior of the miners. It is a key process which supports the whole network by safeguarding its ledger. Walsh said, “There are a lot of metrics that actually matter, like the number of people that own at least one bitcoin, but nobody cares about that. It’s just price. It’s the one score that wakes people up, and when The Wall Street Journal and other financial publications write about bitcoin.”

While Google trend shows the similar stories of bitcoin and bitcoin mining. Price factor of the bitcoin is not only the reason of increasing interest hobby mining. According to the Walsh experience, bitcoin transaction fees were stable from last few years, those fees have seen an uptick.

Walsh said, “This has to do with the block size debate, because the network is a bit congested, and people are having to pay more to get their transactions confirmed.”

In past, 100 bitcoins were per day transaction fees. Then this fee reaches to 350 bitcoins a day.

And, by 1,800 bitcoins shaped daily, 350 bitcoins are near to 20% of that. This is a blunt difference, a year ago when 60 bitcoins were paid in fees and 3600 produced on daily basis.

Walsh said. “that’s a huge boot.”

He added, “I don’t know that [increasing transaction fees] are affecting people’s interest in getting into mining. People may not realize why it’s more lucrative to mine bitcoins now, but when they run the numbers, the payback period looks better than it used to.”

New Blood:

He added, “It’s very important for people entering bitcoin mining that they really understand how to calculate their revenue and expenses. They need to make sure their cost basis and operating costs are very low.”

Like, if a junior miner overspends on accommodating servers, then there’s a modification, they are over-leverage.

Bitcoin’s value was down about 20% over the last weeks of June. Walsh said, “normal respiration of an asset class.” So far, others are not experienced in investing process and might be unaware of these fluctuations in bitcoin’s price.

According to the Solis, “it’s all about learning through experience”.  The Antminer S9 is running in Solis’s company’s server room and in the presence of the groups of servers, he is unable to identify how much electricity is used by the miners. Solis says, “It is noisy, though,” and “Compared to the other servers, it’s very noisy.”

It is a machine with two particular boards with fans that rotate at 54,00 – 7000 per minute revolution.  Solis is not the only one person who interesting in bitcoin hobby mining.

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Best Place to Buy Bitcoins Online is Btcwonder.com

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Are you inspired by those amazing tales where someone bought bitcoin and turned millionaire in no time? Are you planning to start your own Bitcoin venture but don’t know about the best place to buy Bitcoin? Here are few exchanges which offer Bitcoin both in bulk and minority.

CoinBase:

Coinbase is one of the world’s biggest Bitcoin exchanges. Clients in the United States, Canada, the vast majority of Europe, and Singapore can purchase bitcoins with an associated bank account or SEPA exchange.

European clients can buy bitcoins with 3D secure credit/debit cards.

CoinMama:

CoinMama is a bitcoin exchange that offers bitcoins with credit or debit cards. The fee is around 10% with the limit of about $5,000/day and $20,000 every month. After verification, bitcoins are transferred inside a couple of minutes. CoinMama is accessible only in some US states.

BitPanda:

BitPanda is an Austrian Bitcoin exchange that offers bitcoins with credit and debit cards. Charges are low; around 3-4% but not shown separately.

Many individuals ask: is it conceivable to purchase bitcoins with PayPal? Since PayPal bans its dealers from accepting PayPal payments for bitcoins, it is impractical to purchase bitcoins with PayPal directly.

So, these three are the top three exchanges which sell bitcoins. Next time someone asks about the best place to buy bitcoins, you know what to tell them.

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Future of Crypto – State of DEXs, ICOs And Blockchain Technology

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Blockchain Predictions For 2018

Due to the abrupt increase of ICOs, Ethereum and the whole cryptosphere also went high in price exponentially last year. In 2017, there were several projects that got hacked because they had bugs in the code of their smart contract, numerous scams also came out, as well as few startups also showed up, which failed to deliver on their roadmaps.

Telegram is a popular social messaging app and is considering to launch a token sale. It is said that this token sale would become one of the biggest ICO token sales.

  • The leaked whitepaper of Telegram explains that it seeks to add a crypto micro-payment functionality to its chat platform.
  • Also, it is going to present an innovative and new scalable multi-blockchain network under the name “TON” (Telegram Open Network).
  • For accomplishing this, the project will try to raise $1.2 billion through an ICO.

Telegram Whitepaper

  • The Telegram’s whitepaper is potential to resolve all the important issues that Bitcoin and Ethereum are facing at this moment including, scalability and interoperability, and present a network that will handle millions of transactions each-second.
  • However, the problem is that the company doesn’t tell precisely how it is going to make this work.
  • In the 132 pages of text, specifications regarding how TON will overcome challenges related to building a huge and scalable architecture cannot be found anywhere.
  • Although developers are not too much overwhelmed, unprofessional investors might find the notable potentials of TON appealing.

 

Generally, reasonable regulations are going to serve well for the blockchain space in this long run and lastly, startups will halt taking money recklessly – only because they can and will instead concentrate on developing advanced technology.

Decentralized Exchanges and Scalability Issues

  • The adoption and implementation of decentralized exchanges haven’t been elevated until now, though it seems like they’ll turn out to be fairly mainstream in 2018.
  • With SEC regulations approaching, this probably also has centralized exchanges rattling.
  • To find token liquidity somewhere else, people will have to consult DEXs (Decentralized Exchanges).
  • It is expected that projects like EtherDelta will become popular this year as people are slowly repelling from Bittrex, Coinbase, etc.
  • At the same time, this doesn’t mean that centralized exchanges will be forgotten instantly – they are still world’s more expedient than any other operating or soon-to-be-launched DEX. However, they are probably going to mislay a huge amount of their market share this year.

 ico token sales

Lightning Network

It’s believed that payment channels including Lightning Network will also become a trend soon.

  • This promising technology allows people to open a bidirectional payment channel and transact through it without paying any fee.
  • Fees are required but only for opening or closing a channel and appears to be a potential solution to the scalability problem of Bitcoin.
  • It can assist other blockchains, as well.
  • Projects like Raiden Network already exist since they seek to achieve chain payment channel functionality to Ethereum.

 

If we talk about Ethereum and the future of crypto – its future switch to ‘proof of stake’ and after it happens, the user base network will perhaps get divided again. Anyone who owns loads of mining hardware might dislike the idea to drop ‘proof of work’ for clear reasons. On the other hand, there are cryptocurrency enthusiasts who think hard forks have to be avoided, in general. According to them, altering the blockchain in such way is contrary to the main principle of blockchain immutability. Consequently, there’s a chance that we might get a third network by the end of this year – on top of Ethereum and Ethereum Classic.

 

Adoption of Blockchain Technology

  • The blockchain technology can reconsider the supply chains industry.
  • One of the largest retail corporations in the world, Walmart, is utilizing a decentralized ledger to improve the traceability of the product.
  • Nestlé is intensely using blockchain technology to lessen food contamination, as well.
  • Microsoft and IBM are enthusiastically spreading private blockchains for individual and exclusive business use cases.
  • Last year, 57% of big corporations were either considering or utilizing blockchain technology.

This year, large organizations and big financial institutions including payment providers and pension funds will also embrace the blockchain technology.

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Burger King Russia to Accept Bitcoin as a Payment Method

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Russia has been one of the reasons behind Bitcoin’s drastic increase the past few months since it announced that Bitcoin is “not illegal” anymore in the country. The acceptance towards bitcoin shown by the Russians has boosted the bitcoin value, which is a major advantage to the cryptocurrency.

Burger King is one of the largest fast-food franchise in the world and to hear that it is leaning towards Bitcoin as a payment method is interesting. Although, it is yet to decide the software they’d be using to accept bitcoins.

Let’s not forget, this isn’t the first region to accept bitcoins as a payment option at Burger King. Arnhem Bitcoinstad welcomed Burger King to their list of Bitcoin merchants, by the name of Burger King Arnhem. It was the first Burger King restaurant to experiment with Bitcoin.

Since the cryptocurrency hasn’t exactly been announced as a legal tender, it causes some taxation issues. We are yet to see how Burger King will handle this problem as they move along with their decision.

It is possible that after seeing Russia’s initiative, other countries may begin to implement such payment options as well, which is what every Bitcoin enthusiast is waiting for. This will only open new doors for Bitcoin, especially in Eastern Europe.

 

News Credits: newsbtc.com

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Goldman Sachs – “Most Cryptocurrencies Will End Up Hitting Zero”

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According to Goldman Sachs, the cryptocurrency markets will not recover from their present correction. On 5th February, Steve Strongin (Goldman Sachs head of investment research) said, the high correlation between several cryptocurrencies makes him really anxious. Some currencies that do not survive are expected to trade to zero due to the lack of intrinsic value.

Strongin is worried about the possibility that maybe one or a few of the existing cryptocurrencies could ascend from the speculative bubbles, just like the crypto equivalents of Google or Amazon. However, he said that he doesn’t think that most of the coins will ever recuperate to their all-time highs.

There have been many questions arising like, is there any cryptocurrency that’ll be like Google or Amazon? Or are they going to end up just like the other now-defunct search engines? Strongin said that this doesn’t mean that the prices of cryptocurrency cannot increase at all because they are in a speculative bubble at this time. But at the same time he said, that most of the cryptocurrencies might bounce back to their all-time highs, but some of them are never going see their current peaks ever again.

most cryptocurrencies will end up hitting zero

This clearly shows that the speculative bubble is coming to its end and rather than as a collective asset class, investors are going to start judging the cryptocurrencies from their individual merits as a lot of casual retail investors are already familiar with it. It also seems like the ICO (initial coin offering) success will suddenly come to its end.

Strongin said that the winners-take-most sight of the market is not very unique to Goldman Sachs. On Wednesday, the founder of DCG (Digital Currency Group) Barry Silbert, offered the same remarks at “Yahoo Finance All Markets Summit: Crypto” with explicably more positive stance on the entire industry.

According to Silbert, a huge majority of crypto-assets are facing a binary outcome. They are either going to become extremely valuable or they are going to become worthless. He added, this is why Grayscale Investments (a DCG portfolio company) launched its newest product, a fund related to crypto-asset investment and it holds the market cap (weighted positions) in the most major five cryptocurrencies and balances it again quarterly to imitate market movements.

Many other experts have also warned the investors on cryptocurrencies. Nouriel Roubini, who’s a well- known economist said on Tuesday, that the price of bitcoin would also crash to zero. Warren Buffett also said in a recent interview that cryptocurrencies are definitely going to have a bad ending.

 

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Intel Blockchain Technology: Can Blockchain Technology Overpower Next Generation Media Rights?

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Intel is a multinational corporation and technology company, which is considered as a giant tech, and the company is finally joining the rising list of initiative firms that perceive blockchain tech as a way to reinterpret digital rights management.

Intel’s Patent 

On 8th March, U.S. Patent and Trademark Office released a patent application. In that patent, a method was described by the Silicon Valley tech company to use blockchain for downloading the rights to digital images. Intel’s patent proceeds to referenced videos and various other types of content, apart from images and offers a more inclusive rights system with further extra characters.

intel blockchain technology

Let’s take an example! Intel’s system allows its users to uphold everything in progress, which includes unstructured bits like; literature with many editors. This would be the only way in which content can be solely altered according to the copyright policy settings.However, Intel is somehow far away from pursuing the idea all alone.

On the other hand, in addition to the exertion of blockchain industry, such as Berklee’s Open Music Initiative companies, including two of the Chinese companies, in order to make headlines for the same ideas in recent weeks are;

  • ZhongAn
  • WENN Digital

Patent’s Statement

In the patent application it is stated as;

“Blockchain technology is used to document and verify attributes of digital content that are relevant to copyright protection. Such attributes may include, for instance, an identifier for the author of the content, a timestamp to indicate when the content was created, and a measurement that can subsequently be used to detect copying or modification of the content.”

As it is already defined, multiple types of software are being used by this proposed platform to evaluate copyright policy settings automatically for every image, it doesn’t matter if the picture has been taken from external sources. After that, a unique identity is formed for both the original content and altered versions (if there are any). The patent has labelled these two identities as shadow-images.

The company also filed a patent, back in 2016, for blockchain-powered software in order to benefit research DNA, genetic sequencing, particularly. The patent is updated as well which makes Intel to go on a hunt to secure its intellectual conceptions, which are related to the industry.

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