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Hydro-Quebec Increases Electricity Prices by 300% for Bitcoin Miners

Even though Canada has become a very important country for cryptocurrency mining, it seems things are changing behind the scenes. The Quebec provincial regulator has decided to allow utility providers to hike electricity prices for Bitcoin miners. As such, the rates will be increased by up to 300%, which might make the mining process unprofitable. Big Changes Ahead for Hydro-Quebec It was announced last week that Quebec’s Régie de l’énergie was not too happy about the influx of cryptocurrency mining operations. Although the province has no shortage of renewable energy, there are growing concerns over how the growing number of mining operations are putting a lot of pressure on the power grid. This issue is not unique to Quebec by any means, though, as other regions around the world have voiced similar concerns over the past few months. As a result of this uneasy situation, the regulator will allow Hydro-Quebec to raise its electricity prices. More specifically, the company can now charge up to 15 cents per kilowatt hour to blockchain companies and mining operators. Everyone else is seemingly unaffected by this change, clearly indicating that there is a growing dislike for cryptocurrency mining in Quebec. That is not a positive development for the cryptocurrency industry by any means, but it may not necessarily cause any major issues in the short term. Although the company has been given permission to charge more money, Hydro-Quebec has not officially confirmed that it will do so in the immediate future. Blockchain and mining firms currently pay a maximum of 5 cents per kilowatt-hour in Quebec. Increasing electricity costs by up to 300% will make the mining of Bitcoin and various altcoins less profitable fairly quickly. The decision comes at a strange time, as it appears Hydro-Quebec has done everything possible to attract more mining firms over the past few months. That success eventually came to harm the company, as it cannot keep up with the increased demand for electricity. It appears this price hike may very well be a temporary measure. Hydro-Quebec is currently filing an application to the regulator in regards to a selection process for the blockchain and mining industries. A total of 500 megawatts would be reserved for these companies, and the limit could not be increased. That would make life a bit more competitive for mining firms in this region, which wouldn’t necessarily be a bad thing. At the end of the day, Hydro-Quebec is mainly interested in finding the correct price point for the electricity required to mine Bitcoin and other cryptocurrencies. That is much easier said than done, which is why this temporary price change seems more than warranted. Additionally, the provider is keeping close tabs on which jobs and investment opportunities these mining firms will bring to the region. A new tariff will be announced in the coming weeks, although no official ETA has been communicated at this time.
NullTX

Hydro-Quebec Considers Halting Mining Operations During Winter

The migration of cryptocurrency miners to hydro-power abundant Quebec has been received cautiously lately, following an initial period over-exuberance on the part of local officials. The future for Quebec’s mining industry has since encountered a number of hurdles, from the province’s ability to supply power during the dry winter season to the often overlooked environmental tolls of producing hydropower. Also Read: The Number of Cryptocurrency Exchanges Has Exploded  Hydro-Quebec Considers Suspending Power Provision to Mining Companies During Dry Season In recent months, the Canadian province of Quebec has sought to attract cryptocurrency miners, offering up cheap and abundant hydropower. After initially boasting 5000 megawatts of surplus electricity, the province’s state-owned power company, Hydro-Quebec, has since taken a more cautious approach with regards to encouraging the proliferation of Quebec-based mining operations, after reconsidering its ability to satiate demand from both citizens and miners during the dry winter season. Marc-Antoine Pouliot, a spokesperson for Hydro-Quebec, has described the dry season as the principal barrier to Hydro-Quebec’s capacity to meet the constant energy draw produced by miners, recently proposing that sanctions are placed on mining companies during winter. “In Quebec, residential customers heat their homes with electricity. [As a] consequence, the demand can be very high when the temperature is below -20°C for a few days. We are now analyzing the effect of the [mining industry] on our winter peak. One of the solutions could be to oblige blockchain companies to suspend the activity during the winter.” Canadians Concerned About Ecological Toll of Increased Power Consumption The Massachusetts Institute of Technology (MIT) has published an article claiming that the purportedly modest ecological footprint generated through Quebec’s power production has come under increasing scrutiny. Jeff Wells, a conservation biologist and researcher at Cornell University, has also warned of the potential environmental consequences of increased miner activities, emphasizing the ecological strains incurred through the construction of dams. Mr. Wells asserts that the damage created by constructing the reservoirs required to hold a ready supply of water is too great to justify any industry. Mr. Wells asserts that said reservoirs are increasingly overtaking existing forests and leading to the large-scale rotting of tree roots, which results in the release of significant quantities of methane. “You’re putting hundreds of thousands and eventually millions of acres under water. You’re putting a greenhouse gas in the atmosphere and stopping the ability of that area to take any more carbon into the system. You’ve lost a whole ecosystem.” Mr. Pouliot has sought to assure that the company’s ability to meet demand during the peak of winter is the sole hurdle posed by the proliferation of industrial-scale mining operations. The spokesman has dismissed ecological concerns, asserting that full environmental impact assessments are completed before any dams are constructed by the Hydro-Quebec. Canadian Company Creates Modular Mining Apparatus Canadian startup company, K.E. Inc., has developed self-contained modular shells designed to accommodate up to 1,200 cryptocurrency miners. The company’s founder, Fooad Nejad, has asserted that a recirculation ventilation system reduces power consumption through eliminating heating and cooling requirements. The pods resemble shipping containers, however, and can be constructed virtually anywhere without requiring retrofitting and other costs associated with establishing mining operations in old buildings. The pods can also be adapted to channel heat production, with Mr. Nejad predicting that the pods may in future be used to grow warm-weather crops year round. Despite efforts to reduce the ecological footprint incurred through mining, Christian Catalini, associate professor of technological innovation at MIT and founder of MIT’s Crypto-economics lab, has argued that the energy-intensive nature of cryptocurrency mining is a consequence of the fundamental lack of trust between the participants of a transaction. “You’re essentially solving worthless puzzles that we cannot solve mathematically. You can only brute-force your way into it, Mr. Catalini said. “Basically, you’re placing an economic cost between a user and an attacker. If someone wants to subvert the system by faking a transaction, or revert a legitimate transaction, they would have to expend a tremendously high amount of energy and computation – to the point that no rational economic actor would do that, because the cost of doing an attack would be far greater than the benefit.” Do you think that the honeymoon period is over between Hydro-Quebec and cryptocurrency miners? Share your thoughts in the comments section below! Images courtesy of Shutterstock Need to calculate your bitcoin holdings? Check our tools section. The post Hydro-Quebec Considers Halting Mining Operations During Winter appeared first on Bitcoin News.
Bitcoin News

Hydro-Quebec Turns Down New Applications for Crypto Mining Operations

The premier of the Canadian province of Quebec, Philippe Couillard, has temporarily halted the approval of new mining operations partnering with the province’s state-owned power company, Hydro-Quebec. Also Read: Dutch Court Rules That Bitcoin Has “Properties of Wealth”  Hydro-Quebec Halts Approval of New Mining Operations From Offshore Applicants The company states that “Although [it has] a large volume of electricity to meet the different needs of customers in the territory,” it will not be able to accept all mining applicants, adding that “In recent months, we have received [proposals for] projects representing several thousand megawatts.” “Hydro-Quebec Distribution will not be able to supply the totality of the installations targeted by the projects which have been presented to it. currently being analyzed, in particular, because of their impact on demand during winter peaks.” The company states that it is currently “working to develop guidelines to determine which of the projects received in the blockchain sector can be accepted, as well as the tariffs and conditions applicable to this sector.” Sources State Government Intervention Spurred Hydro-Quebec’s Decision Quebec Premier, Philippe Couillard Hydro-Quebec’s decision to temporarily halt new partnerships with offshore mining companies has been met with surprise, as the company had recently made efforts to double its revenues to $30 billion by 2030 – with commercial strategies targeting the blockchain and cryptocurrency industries comprises a major source of the anticipated revenue. According to local media citing an anonymous source close to company, “Hydro-Québec had the management of the cryptocurrency market confiscated” and received “an order to wait quietly for new instructions from the government.” Quebec cabinet member, Pierre Moreau, addressed the clampdown on new large-scale mining operations, stating that “The objective of the government is to assure all Quebecers that during winter peaks, Hydro-Quebec does not say, ‘well, listen, I can not provide because we are in the process of mining cryptocurrency.‘” Domestic Mining Operations Proliferate The founder of a Montreal-based bitcoin consulting firm, Jonathan Hamel, has stated that the Couillard administration’s decision “is not surprising considering the government’s hostility to technological change.” Mr. Hamel states that the Couillard government previously “attempt[ed] to ban Uber,” and has pushed for stronger “taxation of the giants of the web,” adding “Mr. Couillard seems to be inspired by regulatory surges in the European Union, a strategy that has the effect of scare investors.” The number of local mining operations in the province appears to have rapidly proliferated, with Hydro-Quebec indicating that it has received supply requests from individuals consuming 5,000% more power than the average home. Do you think that Hydro-Quebec will again accept applications for new mining operations from offshore companies? Share your thoughts in the comments section below! Images courtesy of Shutterstock, Wikipedia Want to create your own secure cold storage paper wallet? Check our tools section. The post Hydro-Quebec Turns Down New Applications for Crypto Mining Operations appeared first on Bitcoin News.
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Ethereum HARD FORK 2019? Biggest Challenge in Crypto...

Let's discuss the Constantinople hard fork that is now scheduled for January. Also, I want to discuss the biggest issue the crypto ecosystem faces in the coming years. https://toshitimes.com/trons-ceo-to-rescue-eth-and-eos-developers-as-their-platforms-collapse/ https://news.bitcoin.com/text-enabled-bch-payments-now-available-in-35-countries-with-cointext/ https://toshitimes.com/ethereum-developers-reach-new-agreement-to-launch-constantinople-hard-fork-in-mid-january/ https://blog.coinbase.com/coinbase-continues-to-explore-support-for-new-digital-assets-92ba4ab7f4653 GET FULL ACCESS TO THE ACADEMY: https://christmas.ivanontech.com LET’S MEET IN NEW YORK: https://www.facebook.com/events/452734075131412/ 💰 GET $10 TO BUY YOUR FIRST CRYPTO: https://www.coinbase.com/join/59d1738ff36136022bd9ee10 🏆 BUY PHYSICAL BULLION GOLD: http://www.bullionvaultaffiliate.com/ivanli/en 📈 BEST ALTCOIN EXCHANGE: https://www.binance.com/en?ref=35933746 🔐 BEST WALLET: https://www.ledger.com?r=5a56aa023b40&tracker=IOT Good Morning Crypto 🎓 LEARN SMART CONTRACT PROGRAMMING http://coding.ivanontech.com 🎓 Join my online academy https://academy.ivanontech.com 👬 Join the crypto discussion forum - https://forum.toshitimes.com 📣 Join Telegram channel https://t.me/joinchat/AAAAAE2xJE4l8xhC8MU4cg 🎤 If you would like me to speak at your conference, book me here: https://ivanontech.com #bitcoin #blockchain #ivanontech 👫👭👬Social: LinkedIn: http://linkedin.com/in/ivanliljeqvist/ Instagram: http://instagram.com/ivanontech/ Steemit: https://steemit.com/@ivanli Facebook: http://facebook.com/ivanontech/ Exclusive email list: http://eepurl.com/c0hyc9 DISCLAIMER: This is NOT financial advice. This is just my opinions. I am not responsible for any investment decisions that you choose to make. Ivan on Tech is all about cryptocurrencies and the technology behind Bitcoin, Ethereum, Litecoin, Ripple, IOTA. We also cover Bitcoin price, altcoin price, investing, analytics, different altcoins. Ivan on Tech by Ivan Liljeqvist
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Brave Browser Confirmed as HTC Exodus’ Default Web Browsing App

HTC is resolved to win the race for the best blockchain phone on the market. Its commitment to the community seems to be genuine and not only have they bet on accepting payment exclusively in cryptocurrencies to promote their use but also decided to include third-party software that makes use of these technologies. In a tweet published a few hours ago by Mr. Brendan Eich, CEO of Brave Software, he expressed his satisfaction after confirming HTC’s decision to include Brave as the Exodus’ default web browser. We are very happy to have @Brave as default browser & to be working with HTC on their Exodus phone: https://t.co/J5WQrqODKa — BrendanEich (@BrendanEich) December 8, 2018 Brave Browser: Using Basic Attention Token (BAT) To Create a Better Internet Brave Browser uses blockchain technologies to improve the user experience and change the way content providers relate to consumers. The idea is to make browsing faster and more convenient by rewarding not only users for consuming content but also giving them the ability to benefit content creators. “Once you enable Brave Rewards, the Brave browser automatically and anonymously keeps track of sites each user visits. The more times that a user visits a site, the larger the proportion of the user’s monthly contribution is “ear-marked” for that content creator. When contributions for a content creator exceed $100.00 USD, an email is sent to both the webmaster of the site and the registered domain owner from your WHOIS information. The email explains how to verify the ownership of your website with Brave Software.” The token used by Brave Browser is the Basic Attention Token (BAT), a cryptocurrency that has recently gained considerable popularity, especially after the announcement that it has been supported by Coinbase to be traded on its platform. #brave the new browser from @BrendanEich @brave wants to reward users with #cryptocurrencies to see ads and make browsing cleaner and safer #DMT18 pic.twitter.com/eUnPFBjW6W — ralfscharnhorst (@RalfScharnhorst) December 6, 2018 Blockchain-Phones: The New Trend For its part, the HTC Exodus 1 Phone is a phone created by HTC with blockchain technology focused on those users who want to manage their crypto coins from their mobile phone without additional hardware. To do this, HTC developed its own hardware wallet with multi-asset support. The wallet is named Zion and runs on independent hardware embedded into the phone. The main competition of the HTC Exodus, is the Sirin Labs’ Finney Phone, a device that has similar features but runs under a proprietary Operating System developed as an Android fork. The post Brave Browser Confirmed as HTC Exodus’ Default Web Browsing App appeared first on Ethereum World News.
Ethereum World News

Bitcoin Cash on Gemini, Robinhood Hints at TRON - Today's Crypto News

Visit our website: https://altcoinbuzz.io In this video, Mattie talks about Bitcoin Cash being listed on the Gemini exchange and rumours about Robinhood listing Tron. He also gives you the latest from our Community Speaks segment and the eos hackathon winner. This is a daily segment! ----------------------------------------------------------------------------------- CHECK OUT OUR PODCAST: https://bit.ly/2sZCAiF New episode every Monday and Friday! ----------------------------------------------------------------------------------- Check out Altcoin Buzz Ladies! https://www.youtube.com/channel/UCxulvI2C9wUvvDDNS7S35fA/videos ---------------------------------------------------------------------------------- Connect with us on Social Media: Twitter: https://bit.ly/2GDAoCp Facebook: https://bit.ly/2wYksLB Telegram: https://bit.ly/2IAqDuI ---------------------------------------------------------------------------------- Looking for the best cryptocurrency wallets? Check these out: BitLox: https://bit.ly/2rWQnHa CoolWallet S: https://bit.ly/2Liy5bv Trezor: https://bit.ly/2IXrZic Ledger Nano S: https://bit.ly/2IyE3al KeepKey: https://bit.ly/2x5TlhM Read about them here: https://bit.ly/2rTdthZ --------------------------------------------------------------------------------- References: Crypto Exchange Gemini Adds Support for Bitcoin Cash (BCH) Trading and Custody https://altcoinbuzz.io/crypto-exchange-gemini-adds-support-for-bitcoin-cash-bch-trading-and-custody/ Bitcoin Cash Is Now Available on Gemini! https://medium.com/gemini/bitcoin-cash-is-now-available-on-gemini-cc75299d892f Robinhood Hints That It might List TRON https://altcoinbuzz.io/robinhood-hints-that-it-might-list-tron/ Robinhood Tweet https://twitter.com/AskRobinhood/status/1070793190490472448?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1070793190490472448&ref_url=https%3A%2F%2Faltcoinbuzz.io%2Frobinhood-hints-that-it-might-list-tron%2F DERO Introduction – Community Speaks https://altcoinbuzz.io/dero-introduction-community-speaks/ DERO https://dero.io/ EOS Global Hackathon Winner Announced https://altcoinbuzz.io/eos-global-hackathon-winner-announced/ EOS VC Rewards GeneOS with 500,000$ https://coinhooked.com/eos-vc-rewards-geneos-with-500000/ Genomic Project GeneOS Wins Grand Prize of US$500,000 at Block.one EOS Global Hackathon Grand Finale in Cape Town https://block.one/news/geneos-wins-grand-prize-at-eos-global-hackathon-grand-finale/ -------------------------------------------------------------------------------- DISCLAIMER The information discussed on the Altcoin Buzz YouTube, Altcoin Buzz Ladies YouTube, Altcoin Buzz Podcast or other social media channels including but not limited to Twitter, Telegram chats, Instagram, facebook, website etc is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the writer, reviewer or narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
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Mining Company Sues Roger Ver & Group for BCH Hard Fork Price Manipulation

The American company Unitedcorp has filed a lawsuit against "bitcoin cash ABC" supporters. The company accuses the supporters of hiring mining power in order to control the bitcoin cash network. The Bitcoin Cash hard fork that took place several weeks ago resulted in two version of Bitcoin Cash, supported by two opposing parties: the Bitcoin ABC version, which uses the ‘BCH’ ticker symbol; and Bitcoin Cash Satoshi’s Version, which uses the ticker symbol ‘BCHSV.’ The lawsuit claimed that Roger Ver, bitcoin.com, Bitmain, and co-founder Jihan Wu, crypto exchange Kraken and founder Jesse Powell, and Bitcoin ABC developers Amaury Sechet, Shammah Chancellor and Jason Cox centralized bitcoin cash and manipulated the price during its contentious hard fork. Especially by dedicating mining power in theory assigned to mining the bitcoin blockchain to mining what was then referred to as the Bitcoin ABC chain.  After the split, supporters of both sides of bitcoin cash have been “fighting” against each other in order to become the biggest “bitcoin cash”.
BitZamp

Basic Attention Token [BAT]: Brave is now available as the default browser on HTC Exodus phone

In a recent tweet by Brendan Eich, the CEO and Co-Founder of Basic Attention Token [BAT] and Brave, announced that Brave has been made as the default browser on HTC Exodus phones. Tweet by Brendan Eich: “We are very happy to have @Brave as default browser & to be working with HTC on their Exodus phone” In October 2018, Brave introduced the newer version of the browser which is compatible with all Chrome extensions. This version was named as Brave 1.0, which is a desktop browser with 22% faster browsing speed compared to older versions of Brave. During this announcement, the team also mentioned that they were working on multi-core capacity on the browser speed, the performance of the browser on mobile devices etc. Recently, HTC announced Exodus 1 as their first cryptocurrency enabled smartphone. The phone provides a storage solution for cryptocurrencies and gives accessibility to blockchain-based applications. An Android application named Zion, which is separated from the operating system of the phone has the ability to store all the private keys of the users. A Redditor named jajarz says: “HTC is a dying company, but they are going all in on hardware the incorporates future developments like VR, and Crypto. If they pull this off theyll be the next Apple.” Another Redditor named Gromerando says: “HTC phones run on Android, having Brave as default browser will only prevent Google from getting ur browsing habits, only if Google is not the default search engine on the browser So don’t really see the excitement as Google will still be able to track your every move” Brendan Eich, who is also the Founder of JavaScript and the Co-Founder of Mozilla project created both the Brave browser and Basic Attention Token [BAT]. The cryptocurrency BAT is an ERC-20 utility token which is used for all the advertising purchases and revenue on the browser. The post Basic Attention Token [BAT]: Brave is now available as the default browser on HTC Exodus phone appeared first on AMBCrypto.
AMBCrypto
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