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Iconiq Lab, based in Germany, is a global token sale accelerator and initial coin offering program. According to a recent announcement by Iconiq Lab, it has decided to launch two new branches in the US and Asia. This announcement was made public by Patrick Lowry, CEO of Iconiq Lab. The US branch is expected to be launched in New York in May, while the Singapore branch will be launched in July 2018.with the first batch scheduled to begin in Nov. 2018.

When asked about the reason for that launch, Patrick Lowry stated that due to the terrific success rate of German accelerator program and the unexpected feedback from the target community are the main reasons behind that launch.

accelerator program

Why was Iconic Lab launched?

Reason behind the launch of Iconiq Lab was to compensate the needs of both crypto investors and efforts leading to the completion of their own initial coin offerings. Iconiq Lab also launched a global ico accelerator program which was further made possible through the launch of their own token, the ICNQ Club Membership Token.

Basically the Iconiq Lab refers to a German based initial coin offering program which is also acting as a token sale accelerator program at the moment. Edge of that company is that it funds, develops and accelerates the most promising crypto-startups leading to their own token sale. Their speciality is that they help launch tokens supported by real-world business demands and sustainable solutions.

Financial cooperation with EOS and FinLab

FinLab AG is a public trade based German FinTech company builder. In Nov. 2017 it placed a an investment into Iconiq Lab which no doubt was a minor one but had strategic importance. This mutual cooperation led to the successful launch of an accelerator program on behalf of Iconiq Lab. the result and feedback was quiet amazing as Iconiq Lab received almost 200 applications for the first batch of that program  in late 2017. Due to several reason, it shortlisted the applications and eventually selected just five applicants to enter the program. That program was properly launched in Feb. 2018 in Germany.

These five selected companies are propelling towards their own initial coin offering and are at the moment in the middle of a digital roadshow. These companies are also giving rise to innovative Blockchain solutions.

Iconiq Lab’s mission behind all these efforts is to allow the flow of characterized creativity by using tokens as financial instruments. According to some crypto experts it will also facilitate crypto investors with dependable data in case they are trying to judge new token investment opportunities and their future impact.

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Will Bitcoin Casinos Continue to Grow in Popularity?

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Online Casinos and Cryptocurrency

There was a time when the word “cryptocurrency” raised a lot of questions and doubtful expressions. But with the impressive amount of attention bitcoin and other cryptocurrencies have gained through the media, digital currencies are one thing everyone is shuffling around to get their hands on.

With more and more outlets bitcoin games accepting Bitcoin as a payment option worldwide, including online casino operators. We’re aware that casinos have become a huge business in the industry and the competition there is very fierce. Thus, casinos have opted for a different attraction like offering deposits and withdrawals via bitcoin.

Now the question is will Bitcoin casinos really get somewhere or is this just a waste of time?

A setback that we’re aware of is that there aren’t many online casinos for bitcoin gambling. Unibet, a famous online casino might eventually add Bitcoin to its list of banking options however, that will take its own time since it depends on its demand. Due to this, there are lesser possibilities of bitcoin casinos to be on the rise, although there might be a possibility in the long run.

It’s only fair if we look at the positives and really, there are many. The major reason why customers would definitely opt for online bitcoin casinos is that they ensure 100% anonymity for the player and owner. Cryptocurrencies are completely independent which means that all your personal information is kept safe and never at risk. Another plus point is that with cryptocurrencies you never have to worry about chargeback issues which is a common problem for credit cards.

Also, with normal online casinos, you usually have to wait around for 2 to 3 days for the money to be withdrawn to your bank account. But that’s not the case with bitcoin, your withdrawals are almost instant each time.

When compared to a few minor setbacks, the advantages outweigh the disadvantages. The more the people become aware of these cryptocurrencies the more the demand. It is true though, we need to give cryptocurrencies their space to become mainstream so a number of people take notice and decide to acquire it.

 

Story Credits: livebitcoinnews.com

Image Credits: bitcoingamblingsites.net

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A Brief Guide on How to Mine Monero

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This article focuses on how Monero cryptocurrency is mined and what sort of hardware and software is required to mine this cryptocurrency lucratively.

What is Monero?

Monero (XMR) is a privacy-oriented digital currency which was initially released in 2014. By market cap, it lies in the top 15 cryptocurrencies and amid the top 15 cryptos, it is the only privacy-focused cryptocurrency. Monero still uses a Proof-of-Work consensus mechanism which means it can still be mined by using regular CPU and GPU computational power.

monero mining

  • Monero — based on the CryptoNight hash algorithm.
  • CryptoNight — a Proof-of Work consensus mechanism depends on the CryptoNote protocol.
  • CryptoNote —an application layer protocol that aims to be an evolution of the ideas behind Bitcoin.
  • Monero blockchain mines blocks in two-minute intervals – quicker than Bitcoin.

Monero can be mined by using regular consumer hardware, which makes it quite easy for almost everyone to get involved in Monero mining. Casual miners benefit from it because it lessens the ‘payoff’ from using specific hardware, which makes GPUs less effective from a cost perspective. So, as it’s already mentioned above that Monero can be mined by both using both CPUs and GPUs, this makes mining rigs more lucrative.

Hardware for Monero Mining

Casual miners can mine Monero by using consumer grade CPU hardware like GPU’s, ARM, x86, and x86-64.  Compared to others, AMD graphic cards are best for Monero mining however, you will need some hardware components for setting up your own rig. Few of them are given below:

  • CPU with at least 8GB RAM.
  • Reliable internet connection and an open-air rig.
  • A reliable power supply — depends on the CPU and GPU you pick.
  • DDR3 or DDR4 SDRAM — depends on the CPU you choose.
  • Motherboard — compatible with the selected CPU, with enough PCIE
  • SSD or HDD.

Software for Monero Mining

Different software has been made for different hardware and software used for mining Monero is also quite important. Using the right mining software and enhancing your CPU/GPU is imperative to get the most profits. The procedure is usually the same.

  • You will have to download the software and extract the .zip file.
  • After extracting the folder, you can run the application.
  • After running the application, choose Monero mining. It prompts you to enter a pool address.
  • One of the best ways to mine is to be part of a pool. — solo mining can produce little to no results, as compared to pooled mining, which means it is essential for you to find a good mining pool.
  • Pools often have a small fee; however, the fee is acceptable – considering the reliability and consistency of rewards and less alteration.
  • Also, make sure that you have a Monero wallet setup so that you can receive your rewards.

monero cryptocurrency

Difficulty and Profitability Factor

Over the past few months, the over-all global hash rate for Monero has declined –so with the new Monero fork, however, it is still a lucrative crypto to mine, according to its price potential. The hashrate is linked to the price of the coin, and trouble thoroughly tracks the hashrate.

The level of difficulty automatically alters the computational difficulty of solving the subsequent block to sustain the two-minute block interval.

Many people are trying to mine Monero, which has made it even harder to mine. Here, difficulty means how hard the mining of Monero has become. Well, it depends on the miner as well and how powerful the miner is. To keep Monero’s supply in check, this information gets updated from time to time. For successful mining, the pool takes a certain fee from the profits.

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Bitcoin Mining Calculator 2017 – Interesting Information About Mining Calculator

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Easy bitcoin mining calculator

It’s really simple to use a Bitcoin mining calculator. There are only two main instructions that you need to follow:

  1. Enter the hash rate
  2. Click to mining revenue

Do these and you will have your desired calculations with an accurate result while using a Bitcoin calculator. However, there is one important thing to remember while performing calculations: The revenue will be in USD, based on current exchange rate. The exchange rate varies from time to time and so does the revenue difficulty.

Some other points to remember are:

You Have to Calculate Profitability:

Bitcoin mining has secured the bitcoin world. Without miners, you would not be able to do any transaction happily. In that sense, miners pay for their services and mine the blocks. If miner successfully mined a block, there is a reward on each block in the form of Bitcoin.

Easily run a profitable mining farm.

Mining Hardware:

While going to purchase bitcoin mining hardware you must look the at metrics called hash rate. If a hash rate is high, it means your miner is more powerful. To calculate the amount of hash power per month, you can use the mining calculator. However, it may be costly for a new mining farm.

Just like you want to earn more, the hardware will become more expensive. Antminer S7 mines $200 bitcoins per month and costs $629. And this is just the hardware cost. The costs of electricity and equipment are not included.

For profitable mining operation with low W/GH with good hash, power is the better option for your profitability. Antminer S7 is also considered the most efficient miner with 0.25 W/GH.

During the mining process, the miners emit large amounts of heat, so you will need cooling fans and power supplies to keep the temperature under control.

Other Expenses:

Mining operation completely depends on electricity. 60% of Bitcoin network’s hashing power is located in China because of cheap electricity.

Miners in cold areas are more profitable because there is no extra need for cooling fans. It removes the heating cost and keeps the houses warm during winter.

Hash Power and Difficulties:

It is difficult to know about the difficulty months in advance. Network and hash power are external factors and vary from time to time.

Instead of stressing out, concentrate and give complete attention to understanding the more efficient idea of mining technology and the hash rate.

Block Reward and Price:

Bitcoin price is a factor you can’t control. Price fluctuation is important so keep yourself up to date and prepared for these fluctuations.

On the other hand, the reward is a predictable factor. It started from 50 bitcoins per block, then 25 BTC per block, and in July 2016, it was halved to 12.5 bitcoins per block. The reward takes place every four years. This means the halving will be taking place in 2020.

Calculators:

Use of bitcoin profit calculator keeps you updated with hardware and electricity costs. This will give you the better idea how to decrease the possibilities of mining difficulty and Bitcoin price.

Wishing you good luck!

 

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Initial Coin Offering – How to Avoid ICO Scams?

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You can find lots of advertisements and links related to ICO startup companies, but do you know what ICO really is? If you don’t, we’re here to help you out. In this blog, we are going to enlighten you about what ICO means, what it involves, and how you can avoid Initial Coin Offering scams.

initial coin offering

What is ICO?

ICO stands for “Initial Coin Offering.” ICO wasn’t known to many people until cryptocurrencies we created and became a trend. The word “ICO” is borrowed from IPO (Initial Public Offering). Now, you must be wondering, what’s IPO? IPO is the event in which a company goes public in the finance world. But, what happens when a company goes public? Well, it means that the company is going to launch stock options publicly, for each and every one out there to purchase its share, with this hope that these purchased-shares would have more worth one day. You can also say that an IPO is one of the possible exoduses of a venture-capital-investment.

 

What Makes It Different?

An ICO is usually used as a crowdfunding project by cryptocurrency startup ventures to fund a startup company. Funds are provided through well-recognized cryptocurrencies like; Bitcoin or Ethereum or in the form of traditional currency and in exchange, they are given a quantity of the cryptocurrency, which they’re funding with, which means, in the form of “tokens!” After the ICO project gets successfully completed, tokens are exchanged into the functional units of a cryptocurrency that is newly created.

 

No Regulations

Many companies find ICOs attractive since they are not under any regulations, and the startup ventures can collect funding without any exertion and cost for the regulatory acquiescence. On the other side, risks for investors also get increased as countries like South Korea and China have banned the ICOs.

 

For ICO crowdfunding ventures, the marketing heavily depends on social media platforms which also include paid-ads. Similarly, there are many ICO ads now, which are being shown on different websites. The social media giant, Facebook has already banned ICO-related advertisements; however, from June 2018, Google is also going to put a ban on advertisements related to ICO.

 

Is ICO a Scam?

No, ICOs are not always a scam. However, the way they work is the main thing that allows scammers to gain a lot of money from those investors who believed in the startup. Just because of this, few top-investors recommend “real businesses” to avoid these ICOs and continue their business in the same way they were doing before. The year, 2017 has shown that almost 46% of all-known ICO ventures have been proven to be unsuccessful and after the payments were made, the websites, as well as social media profiles were left abandoned or were quickly vanished.

Well, all of this data shows that all ICOs aren’t always a scam, however, like other crowdfunding ventures, especially investing in general, you have to very careful where you invest. While assessing Initial Coin Offering scams, make sure to do your research about the individuals behind it. A robust ICO will offer potential investors every single detail about the developers, security experts, advisors, and others linked with the project. A legitimate ICO will offer a variety of places and social media links where investors can communicate with developers. They’ll also provide their Facebook page of the project so that you could assess its engagement levels.

How to Avoid ICO Scams

If we look at the recent lists of Initial Coin Offering campaigns, it’s quite hard to come up with a reasonable filter, and there’s no doubt that experienced investors wouldn’t consider how sceptical it is, but as with any investment, nothing can be predicted related to ICO or about its certainty. Even in some cases, basic managerial accounting data isn’t available; however, many ICO trackers still try to combine lists of seemingly pertinent parameters.

Initial Coin Offering scams show that fraudsters are going to extraordinary-extents to scam gullible investors. Also, when it comes to taking decisions related to investment, it focuses on the needs of investors. According to the founder of Skill Incubator, Chris Dunn, the cryptocurrency community must have to become extra incisive towards new ICOs; otherwise, governments around the world are expected to take stricter stances into cryptocurrencies at a whole new level.

Also, an ICO whitepaper is the initial document for the project, which describes the aim, background, strategy, and concerns for the implementation of all blockchain-related projects. Whitepapers can be extremely skimpy like; companies that have an ostentatious website may unveil that they lack a basic-sound concept. Then again, a company with a website that contains spelling errors might have a whitepaper that shows a rigid concept and a prudently created implementation strategy.

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Bitcoin Criminals Are Using Bitcoin & Other Cryptocurrencies for Ransomware Payments

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As we already know that Bitcoin is the most popular cryptocurrency, complaints about Bitcoin are also growing rapidly. It’s been reported by many people that bitcoin’s transaction takes too long to get processed and it’s also very much expensive. Bitcoin Criminal use new hacking resources.

There are many indications that the currency is not going so well in favour of the underworld and the stories about culprits looking for bitcoin alternatives are not so new. The latest report by the forensic firm Chainalysis shows that the amount of bitcoin transactions that are related to the dark websites, where people frequently participate in criminal activities, has reduced by 30%.

The reason behind this huge drop is that many people are using bitcoin, and they’re only choosing to keep it, rather than spending it. However, Chainalysis counts multiple law enforcement agencies among its clients and also mentions the growing use of other cryptocurrencies like Zcash, Monero, and Dash.

bitcoin criminal

Fast and cheap transactions are not the only things that are offered by the new currencies, but they also include additional layers of anonymity that make them hard to track than bitcoin. Rob Wainwright (Executive Director of Europol), has also warned that this trend is already in progress. He also added that we’ll definitely see a progressive change in 2018 towards the criminal use of cryptocurrencies other than bitcoin, making it even more challenging for the law enforcement to counter.

A report by tech site ZDNet also shows that many researchers have claimed that slow transactions and high fees are causing culprits to move to Monero. ZDNet writes that it’s expected that soon, culprits will be also providing instructions to their ransomware victims on how to buy and exchange Monero. It’s been also reported that many companies have started to buy amounts of bitcoins so they’d be ready to pay up if they’re hit with ransomware.

While criminals are trying to turn away from the bitcoin for regular transactions, there’d be still very less chance of finding out if they’ve actually lost their interest in it or not. According to a report by Chainalysis, culprits might not want to use bitcoin, but they’d definitely want to steal it.

According to Chainalysis, theft of bitcoin has increased from at least $3 million to $95 million from 2013 to 2016, adding almost $172 million worth of bitcoin between the 2013-2017.

Image Credit: thehackteam

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