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Bitcoin mining pools Poolin and BTC.com compete for the position of dominant mining pool

Founded in 2015, BTC.com, a mining pool owned by Bitmain is one of the largest in the world. BTC.com has dominated the mining pool and had retained its dominance through the first and second quarter of 2019. The mining pool was holding a 15.42% share of the total hash rate in Q1 and a 19.86% […] The post Bitcoin mining pools Poolin and BTC.com compete for the position of dominant mining pool appeared first on AMBCrypto.
AMBCrypto

High Performance Cryptocurrency Mining Rigs Released by BitHarp

A distinguished manufacturer of cryptocurrencies, BitHarp Group Limited www.BitHarp.com is delighted to announce the launch of two new high-performance liquid mining rigs capable of delivering excellent usage capabilities and unprecedented profit making potential. With high hash rate and low power consumption, the two rigs named Lyre Miner and Harp Miner are designed to provide ROI within just one month. A powerful and compact mining rig, Lyre Miner can fit in a limited space and offers useful features such as a touch screen interface for easy operation and monitoring. On the other hand, Harp Miner is a direct liquid Cooling (DLC) rig that prioritizes ...Full story available on Benzinga.com
Benzinga

Will Bitcoin Mining Confidence Cause A BTC Price Spike To $28k?

Data from blockchain.com shows Bitcoin’s hash rate is at all-time-high. Last week, it peaked at 98.5 quintillion hashes per second. In addition, according to the mining pool, BTC.com, mining difficulty is also at its highest ever level at 11.9 T. All in all, miner’s confidence, in Bitcoin, has never been higher, which is indicative of a project here for the long term. And, some might say, a bullish indicator. Confidence In Bitcoin Has Never Been Higher Hash rate refers to the computing power supporting the network by way of transactional processing. The higher the hash rate, the more secure the network. And Bitcoin’s hash rate has never been higher, having a steady upward ascent since December 2018. Indeed, as pointed out by industry observers, Bitcoin’s hash rate is eight times what it was in December 2017, the height of the last bull run, demonstrating a growing belief in the original cryptocurrency. Bitcoin's hashrate is now 8 times larger than it was during price's all-time high of $20,000 in 2017. — Rhythm (@Rhythmtrader) September 12, 2019 This belief not only takes the form of more miners joining the network, but existing miners are also convinced enough to invest in more up to date equipment. This comes off the back of Bitmain announcing the release of the new Antminer 17 series. The Antminer S17e and T17e models offer improvements to hash rate by way of upgrades to heat dissipation technology. And, as claimed by Binance CEO, Changpeng Zhao, as hashing power increases from growing mining confidence, so does price. In a recent tweet, he said: “Hashrate increase means more miners are investing in BTC, they are bullish. You know what follows?” Game Theory And Price This is a belief echoed by the financial reporter, Max Keiser, who, at the start of the month, made a prediction that Game Theory would play out to result in a $28k Bitcoin price. #Bitcoin hash approaches 90 Quintillion. Per protocol’s hard-coded Game Theory, hash precedes price. $28,000 in play. — Max Keiser, tweet poet. (@maxkeiser) September 1, 2019 In essence, Game Theory refers to the psychology of how and why people make decisions within a competitive environment. In other words, when applied to cryptocurrency, this relates to how to become the most profitable. Founder of alternative investment firm, Otis, Michael Karnjanaprakorn put it like this: “Miners are incentivized to be good actors on the network. If miners want to earn rewards, they have to abide by the rules. Otherwise, miners lose time, electricity, and processing power (costs). This is because mining has a recursive punishment system.” And so, Game Theory and Bitcoin’s proof of work consensus mechanism, not forgetting the homeostatic mining difficulty algorithm, work in tandem to coordinate the efforts of people to ensure the best possible outcomes for all involved. Keiser’s reference to Game Theory merely attributes the cumulative combined cooperation of miners to provide a secure network, adding to Bitcoin’s inherent value. And as more miners, and potential miners, take the stance of Bitcoin being a viable alternative to the legacy system, the more we can all benefit. Photo by Dominik Vanyi on Unsplash Will Bitcoin Mining Confidence Cause A BTC Price Spike To $28k? was last modified: September 16th, 2019 by Samuel WanThe post Will Bitcoin Mining Confidence Cause A BTC Price Spike To $28k? appeared first on NewsBTC.
NewsBTC/analysis

Chinese Regulators Demand a Clean-Up of Crypto Mining in Inner Mongolia

China’s Inner Mongolia Autonomous Region has recently issued a notice demanding to clean up cryptocurrency mining operations within the region where bitcoin mining is concentrated. As local crypto outlet ChainNews reported on September 14, five departments under the Inner Mongolia government have issued a notice to rectify the mining industry within the province, claiming “The ‘mining’ industry of virtual currency belongs to the pseudo-financial innovation unrelated to the real economy, and should not be supported. The Development and Reform Commission, the Public Security Department, the Department of Industry and Information Technology, the Financial Office and the Big Data Bureau decided to carry out a clean-up and rectification of such enterprises and have them orderly exit from the region.” Inner Mongolia, together with Xinjiang and Sichuan, are the big three bitcoin mining bases in China producing almost 60% of global hashrate. Among them, bitcoin mining in Inner Mongolia and Xinjiang are mostly fueled by non-renewable energy coal, and Sichuan is making good use of its abundant hydropower for bitcoin mining. A Morgan Stanley research showed that Sichuan generated 90% of all electricity with renewable energy, by contrast, Xinjiang generated 23% of its electricity with renewables, and Inner Mongolia generated only 16% of its electricity with renewables in 2017. Noticing the surging energy consumption of bitcoin mining, Xinjiang has taken the lead demanding a phase-out of illegal bitcoin mining operations last July; this May, authorities in Sichuan also said they had been investigating illegal crypto mining farms. But it seemed to have little actual impact on Chinese miners who already operated in a legal grey area. This time, regulators in Inner Mongolia seem to take it more seriously by investigating not just crypto mining operations, but also “legit” businesses under the name of “cloud computing, big data, blockchain and IDC (internet data center)” which are mostly crypto mining in disguise. If this order from local government was strictly followed through in Inner Mongolia, costs for bitcoin mining in China may increase and bitcoin hashrate may be influenced in the upcoming dry season. As miners used to opportunistically relocate their mining device in Sichuan to Inner Mongolia/Xinjiang once the wet season (from May to September) in Sichuan comes to an end. Back in April, China’s state planner said it wanted to eliminate crypto mining throughout the country for the concern about energy usage and environmental pollution, but no such ban has entered into law so far. In such a context, most large-scaled bitcoin mining farms in the country have early sought solutions by moving abroad. Some people also propose to use clean energy such as overabundant hydropower in southwestern China (Sichuan/Yunan/Guizhou), and wind/solar energy (most wasted) in the northwest like Xinjiang and Inner Mongolia as electricity supply for bitcoin mining. But it failed to gain support given the regulator’s unamicable attitude towards cryptocurrency.
8BTC

Pool-X: The Next Generation PoS Mining Pool By KuCoin

Technology has become an integral part of everyday life. It is ever-evolving and is responsible for changing lifestyles for people worldwide. Newer technological inventions are taking the market by storm and people hardly take any time to get accustomed to these. One such advancement today is cryptocurrencies. These are a revolutionary new form of money that are being used to buy products and services. This money isn't tied to a bank, or controlled by a government. This idea is being adapted by KuCoin, as one of the many cryptocurrency exchanges in the crypto world. This is available for those in search of a modern and secure platform to trade between cryptocurrencies. KuCoin is considered as one of the top dogs in crypto exchange. It was founded by a group with a passion for the blockchain who had already built up strong reputations at industry giants, such as GF Securities, Ant Financial, Youling, Jianbang Communication, and iBOX PAY. Kucoin always aims to provide users with a safe and straightforward method of converting their currencies on a state-of-the-art platform. With that vision in mind, KuCoin launched Pool-X. Pool-Xis a trading platform where users can take part in staking pools and operate nodes. Unlike other staking platforms, users on Pool-X are free to unstake their tokens at any time, providing an opportunity to adapt to the changing market conditions, similar to KuCoin’s own Soft Staking program. This is possible through the use of liquidity certificates, which essentially represent ownership of a certain amount of staked tokens and can be traded with others in order to receive the tokens. As said in this article <KuCoin Blog, Pool-X is an independently operated pool that is co-incubated by KuCoin and its partners. It is the next generation PoS mining pool supporting lockup crypto transactions. With the aim to stimulate the future development of the PoS ecosystem, Pool-X offers services including but not limited to: liquidity trading market, node integration, and operational solutions. This is not only an advancement for KuCoin Exchange but also a progress on the emerging market of cryptocurrency. This innovation will help in the growth and development of the the technology as a whole.
/r/CryptoMarkets
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DIGEST

Bitfinex introduces a new system, BTCC launches in South Korea, the Bitcoin Unlimited upgrades features, the Maldives denies giving permits, IAMAI attracts big players, Huobi lists stablecoins, Binance opens in Uganda

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HIGHLIGHT

Golem Unlimited Demo Out

Golem publishes a video demonstration of Unlimited, a feature that allows nodes to create an internal trusted network for sharing computing power under their own policy

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ESSENTIAL

Dash aims to be an on-chain scaling and private digital cryptocurrency. Powered by a two-tier network, Dash boasts functionalities such as PrivateSend and InstantSend as well a decentralized governance model called Decentralized Governance by Blockchain

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Token Swap: Tether Announces Token Burn Of Over 400 Million USDT

Tether has shared a piece of information about a forthcoming token burn which according to announcement would take place shortly. According to a tweet from their official Twitter handle, Tether plans to shortly move 400 million Tether USDt as part of its Omni authorized but not issue pool to the issuance address in order to burn/revoke them. Tether will shortly move 400m Tether USDt as part of its Omni authorized but not issue pool to the issuance address in order to burn/revoke them. — Tether (@Tether_to) September 16, 2019 Tether Minted 300 million USDT Few Days Ago Few days ago, Tether took to Twitter to inform its users that it was coordinating with a third party to perform a chain swap. This was planned in order to convert some tokens from their original Omni to an Erc 20 protocol. At the time of the initial announcement, 300 million Tether USDt was announced to have been minted for the swap. However, these conversions took place few days ago as Tether promised the token swap wouldn’t disrupt the total supply. In few hours Tether will coordinate with a 3rd party to perform a chain swap (conversion from Omni to ERC20 protocol) for 300M USDt. Tether total supply will not change during this process. — Tether (@Tether_to) September 12, 2019 Whale Alert, a twitter account dedicated to alerting the community of big cryptocurrency transactions, noted the coinage described above in a tweet published on Sept. 12. As per a second tweet submitted as an answer to the first one, Whale Alert offered an explanation of the type of transaction: “This USDT mint is part of a swap. The corresponding burn on Omni has not taken place yet.” And finally, Tether is burning the Omni Tether that was already converted to ERC20. Until now, no token burn has taken place on Omni blockchain. In July, it was reported that Tether accidentally minted and burned 5 million USDT tokens. However, Tether long-standing controversy about issues relating to transparency and market manipulation. The post Token Swap: Tether Announces Token Burn Of Over 400 Million USDT appeared first on Coingape.
CoinGape

Zero-Knowledge Proof Solution from QEDIT Implemented Into Kaleido Blockchain For Transaction Privacy

Kaleido, a startup blockchain solution from ConsenSys Venture Studio has gone on record to become the first blockchain platform to implement the zero-knowledge proof solution from QEDIT—the crypto private company. A Non-compulsory Feature On September 13th, 2019 QEDIT shared a paress released with Cointelegraph where it stated that the partnership it had developed with Kaleido […]
Bitcoin Exchange Guide

Cryptocurrency Exchange OKEx Korea Removes Privacy Altcoins

According to an official announcement made by the South Korean branch of OKEx, the popular exchange will delist five privacy coins as early as October 10, 2019. Complications for Privacy Coins Trading of Monero (XMR), Dash (DASH), ZCash (ZEC), Horizen (ZEN) and Super Bitcoin (SBTC) on OKEx Korea will be suspended on October 10, 2019,Read MoreRead More. The post by Edoardo Vecchio appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager
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