CoinShark News http://thecoinshark.net/feed en 2020 CoinShark Fri, 14 Aug 2020 23:25:36 +0000 CoinShark News Two miners from Dagestan stole electricity for 2 million rubles http://thecoinshark.net/feed/two-miners-from-dagestan-stole-electricity-for-2-million-rubles http://thecoinshark.net/two-miners-from-dagestan-stole-electricity-for-2-million-rubles Thu, 13 Aug 2020 08:39:00 +0000 Employees of the state company "Rosseti" in the North Caucasus discovered several violators who illegally connected their mining farms to the facilities of the enterprise. Dagestan police security operation As a result of a state company's specialists and Russian police operation, one of the criminals was arrested, and theft of electricity was prevented. Damage done Rosseti North Caucasus specialists roughly estimated that the attacker caused damage of at least 1.7 million rubles (about $23 thousand). A "law-abiding" criminal Law enforcement agencies also found another attacker, who turned out to be a resident of Makhachkala. The man illegally installed mining equipment in his garage. The damage from his activities amounted to 247 thousand rubles, but as a matter of fact, he has already paid it in full Ethereum network fees increased by 140% in a week http://thecoinshark.net/feed/ethereum-network-fees-increased-by-140-in-a-week http://thecoinshark.net/ethereum-network-fees-increased-by-140-in-a-week Wed, 12 Aug 2020 14:06:00 +0000 Blockchain fees for the second most popular cryptocurrency Ethereum continue to rise. On August 11, this metric renewed its high since 2018, reaching an average of $1.57 per transaction. Ethereum's popularity continues to grow In just a week, the network's fees increased by 140%, and the monthly growth even exceeded 550%. According to the analytical service Glassnode, almost half of the income of Ethereum miners is just commissions from transactions. Along with the fees, the volume of ETH transactions is also growing: since the beginning of July, the indicator has grown by 35% and reaches 1.25 million in 24 hours. Demand is influenced by DeFi and pyramids Ethereum token supply is at its lowest level in a year, which is associated with the DeFi boom. According to the DeFi Pulse service, ETH is blocked in decentralized finance for an amount exceeding $4.5 billion. In addition, a part of Ethereum lies in the accounts of several financial pyramids. Disappointed Coinbase left the Blockchain Association http://thecoinshark.net/feed/disappointed-coinbase-left-the-blockchain-association http://thecoinshark.net/disappointed-coinbase-left-the-blockchain-association Wed, 12 Aug 2020 10:20:00 +0000 Yesterday, August 11, Coinbase announced an emergency exit from the American Blockchain Association, reports The Block, referring to an official letter from the cryptocurrency exchange. Coinbase Disappointed with Association Decisions It is with considerable disappointment that I am tendering my resignation from the Board of the Blockchain Association, effective immediately. My resignation also serves as notice of Coinbase’s withdrawal from the Blockchain Association, including all working groups and any ongoing initiatives."— wrote  Hermine Wong. The reason for the exit could be Binance US Experts associate such an early decision with the recent entry into the Association the Binance US, which became known on Monday, August 10. And although the official letter does not contain a word about the American division of the competing exchange and only criticizes the organization's decisions in recent weeks, The Block journalists associate this with Binance US. "And while we hope the Blockchain Association remains committed to those values, unfortunately, recent weeks have demonstrated to us that the Blockchain Association is not interested in the membership criteria we had worked to establish to underpin the mission of this organization," - wrote Coinbase.  According to Wong, these “decisions of recent weeks” threaten the reputation of the Blockchain Association. The organization itself commented on the departure of Coinbase, stating that they were disappointed with the decision, and Binance US refrained from making any statements.   Illegal mining farm in Kyrgyzstan disguised as a sewing workshop http://thecoinshark.net/feed/illegal-mining-farm-in-kyrgyzstan-disguised-as-a-sewing-workshop http://thecoinshark.net/illegal-mining-farm-in-kyrgyzstan-disguised-as-a-sewing-workshop Tue, 11 Aug 2020 15:15:44 +0000 According to local media reports, the Kyrgyz police, together with representatives of the energy company Severelectro, discovered another clandestine mining farm, which worked in one of the workshops of a garment enterprise.  Another illegal mining farm This time, a building with devices for mining cryptocurrencies was located in the capital of the Republic of Bishkek along Bayalinov Street. Since 2020, the owners of the premises have not allowed inspectors from the electricity supplier into the territory. Taking into account the many times increased energy consumption, Severelectro came to the conclusion about the possible location of mining farms in the building. Almost 200 unregistered miners As a result of an audit on August 7, law enforcement officers found 187 working devices for mining. On the fact of the theft of electricity and illegal business activity, an audit was started.   Grayscale Promote Crypto Investing On TV http://thecoinshark.net/feed/grayscale-promote-crypto-investing-on-tv http://thecoinshark.net/grayscale-promote-crypto-investing-on-tv Tue, 11 Aug 2020 12:21:45 +0000 One of the largest investment funds Grayscale, on whose accounts more than $5.6 billion bought advertising on American TV channels to popularize investments in cryptocurrency using its services. “Invest with Grayscale Investment fund” Grayscale Managing Director Michael Sonnenschein tweeted a half-minute video of the origin and evolution of money, from shells and coins to modern fiat money and digital assets. At the end of the video, Grayscale Trusts are mentioned, which include Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Horizen, Litecoin, Stellar, XRP and Zcash Go digital. #GoGrayscale. pic.twitter.com/dnE2bC3H7O — Michael Sonnenshein (@Sonnenshein) August 10, 2020 The second TV advertising experience of the company In 2019, the Grayscale ad campaign already encouraged investors to buy bitcoins instead of investing in gold. However, a company spokesman clarified that the ad promotes the Grayscale brand and digital currencies in general, not just Bitcoin or any other asset. The CEO of the investment fund Barry Silbert shared information that soon, in addition to CNBC, the promo video will be shown on MSNBC, FOX and FOX Business TV channels. Libra Co-Founder To Lead Facebook's New Payments Division http://thecoinshark.net/feed/libra-co-founder-to-lead-facebooks-new-payments-division http://thecoinshark.net/libra-co-founder-to-lead-facebooks-new-payments-division Tue, 11 Aug 2020 09:48:00 +0000 David Marcus, who is one of the founders of the Libra project, will become the head of a new department at Facebook, which will focus on payment services and solutions. Who is David Marcus Marcus is an experienced fintech specialist and has been working with Zuckerberg for several years. Joining Facebook in 2014 after a leading position at PayPal, David ran Facebook Messenger until 2018 and then began work on Libra. Integration of payments into company products Facebook Financial (F2) will design and develop fintech projects, including Facebook Pay, to further integrate payments into the company's various services. “We have a lot of commerce stuff going on across Facebook. It felt like it was the right thing to do to rationalize the strategy at a company level around all things payments.” - shared the head of the new division. Facebook executives hope that integrating payment services into Instagram, Messenger, and WhatsApp apps will increase ad revenue and improve the user experience. Hashrate, power consumption, temperature: how to track your statistics on GPU rigs and ASICs effectively http://thecoinshark.net/feed/hashrate-power-consumption-temperature-how-to-track-your-statistics-on-gpu-rigs-and-asics-effectively http://thecoinshark.net/hashrate-power-consumption-temperature-how-to-track-your-statistics-on-gpu-rigs-and-asics-effectively Mon, 10 Aug 2020 09:35:00 +0000 Why is it so important to monitor statistics on your farms and devices in real time? It's simple — hashrate, temperature, energy consumption, efficiency, and stability can tell a lot about your potential problems. However, if you have hundreds or even thousands of GPU rigs or ASICs, analyzing all of this data can be challenging. Fortunately, Hive OS collects statistics. Thanks to this feature, you are able to do the following: Figure out which devices generate income; Understand which workers consume too much energy; Monitor the workers’ problems (for instance, too frequent overheating) and find out how to solve them; Detect devices with too low hashrate; Fully understand the situation on the farm (or farms), even if you have a lot of devices. Hive OS statistics on account On the screenshots below you can see the examples of the Hive OS statistics. In the context of a farm, you can assess the overall situation and energy consumption: Statistics on the account also include hashrate by algorithms, so you can identify how effective specific algorithms are (and then increase your profits by choosing those of them that bring the most income).   In addition to farm statistics, Hive OS also provides the following data on workers: Temperature;  Hashrate by the algorithm (or algorithms); Energy consumption; Fan speed.   As you can see, on this screen the level of electricity consumption remains almost unchanged. This means that the devices work stably and do not consume too much power. The temperature is also within normal limits. But regarding the hashrate by algorithms, not all the workers are equally effective. Take a look at one more example with Hiveon ASIC S9:   Hive OS provides statistics on your workers so that you can always find and solve any problems related to the operation and efficiency of your equipment in time. Public statistics Hive OS also provides public statistics for all users of the system — the rating of the popularity of equipment, coins, and so on. You can track it on the official website in the Statistics section. Take a look at this data — it can help you choose the equipment. Coins Now the first place among coins is taken by ETH — 61% of users mine it. The second most popular coin is Nicehash-Ethash (8%), and the third one is ETC (7%). Please note that ETH is the most profitable coin, which explains its high rating.    Algorithms (GPUs) According to the Hive OS statistics, ethash leads by a large margin — 77%. In second place is sha256, 6%. The third most popular algorithm is kawpow (4%).   GPU brands Both AMD and Nvidia cards are popular. Most miners (57%) prefer AMD. Nvidia takes second place with 43%.   AMD models  The first place is taken by Radeon RX 580 8GB — 22%. The second one — by Radeon RX 570 4GB (21%). In third place is Radeon RX 470 4GB (14%), and in fourth and fifth — Radeon RX 580 4GB and Radeon RX 570 8GB, 12% each.  Previously, this rating included the RX 550 / 560 cards with 2GB of memory, but now these cards are practically not in demand due to their non-universality. Nvidia models The first place is occupied by P106-100 6GB (23%), the second one — by GeForce GTX 1070 8GB (13%), and the third one — by GeForce GTX 1060 6GB (11%). The fourth and the fifth places are taken by GeForce GTX 1080 Ti 11GB and GeForce GTX 1060 3GB, 11% and 7% respectively.  With a good value for money ratio, the GeForce GTX 1060 3GB was once Nvidia's leading card, with a 25% rating. But now its popularity has fallen by more than three times. Why? Due to the lack of memory, these cards cannot mine the most profitable coins (ETH and ETC). Analyzing modern algorithms and prospects, it can be assumed that cards with 4GB of memory are going to be the next to leave. This is relevant to both Nvidia and AMD cards, and means that you should already focus on options with a larger memory capacity (8GB or more). Miners (GPUs) At the moment, the most popular miner is phoenixminer — 37% . The second place is taken by claymore (36%), and the third one — by asicminer (6%).   ASIC models As for ASICs, the leader is Antminer S9 “upgraded” with the Hiveon ASIC firmware — 48%. The second place is occupied by Antminer L3+, also with the Hiveon ASIC firmware (22%). In third place is Antminer T17 Hiveon (5%).   This article describes only the most popular choices. If you want to fully familiarize yourself with the rating, you can do this on the official Hive OS website. And, obviously, do not forget to monitor the statistics on your account — in this way you will increase your profit and extend the life of your devices. Join the Hive OS community on Twitter and Facebook, watch video guides, overviews and tutorials on YouTube — stay up to date with all the news! Start mining with Hive OS for free for 1 rig. Mining: how to spend less and earn more How to choose the right ASIC in 2020 Top 6 problems of miners and their solutions 5 life hacks for owners of large ASIC farms The full review of the Hive OS operating system for mining Why does a miner need the Hive OS operating system? The authorities of Kazakhstan and Kyrgyzstan introduce additional taxes for miners http://thecoinshark.net/feed/the-authorities-of-kazakhstan-and-kyrgyzstan-introduce-additional-taxes-for-miners http://thecoinshark.net/the-authorities-of-kazakhstan-and-kyrgyzstan-introduce-additional-taxes-for-miners Sun, 09 Aug 2020 14:23:00 +0000 The government of Kazakhstan has canceled the preferential taxation program for cryptocurrency miners, which was designed to bring the country to the third place in terms of bitcoin mining.  In order to fight COVID-19 As a result, miners will face higher electricity tariffs and a mandatory tax of 15% of the value of mined BTC. The government explains this decision by the coronavirus pandemic, which requires large expenses for the maintenance of hospitals and the purchase of medical equipment and ventilators. The decision will negatively affect investors Nevertheless, the decision looks at least strange, because it was tax-free mining that was the key reason for the infusion of new investments into the country. Now, with a high probability, the mining industry in Kazakhstan will become underground. According to the latest data, the country's mining farms can mine about 6% of all bitcoins, but only half of the devices are officially registered in the state. In the neighboring republic the situation is the same. A similar situation can be observed in Kyrgyzstan, where the Tax Code has already been changed, but has not yet come up with a rate for cryptocurrency miners. According to official information, enterprises in Kyrgyzstan account for only 0.15% of the world's bitcoin production, but the police regularly find illegal mining farms that are registered under a different type of activity The bank in South Korea will launch a crypto custody service http://thecoinshark.net/feed/the-bank-in-south-korea-will-launch-a-crypto-custody-service http://thecoinshark.net/the-bank-in-south-korea-will-launch-a-crypto-custody-service Sat, 08 Aug 2020 14:04:00 +0000 One of the largest banks in South Korea, KB Kookmin Bank, has partnered with Hashed venture capital fund and Cumberland Korea cryptocurrency platform. It is reported that the bank needs new cooperatives to provide storage services for digital decentralized assets. Search for new business models New partners of the bank explain their desire to organize custody services by changes in legislation, which prompted them to search for new working business models in the blockchain sphere. "Combining our understanding of the blockchain industry and providing technical and commercial advice will inevitably open new doors for consumers as well as for the country, ushering in a new era of digital transformation."— said Simon Kim, CEO of Hashed. Keep up with the competition KB Kookmin Bank's announcement came in response to a message from NongHyup or NH Bank, the bank's main competitors, which talked about plans to launch crypto-custody services. True, the solution being developed from NH Bank will be aimed at institutional investors. Bitcoin-affiliated SEC Commissioner Hester Peirce elected for another 5 years http://thecoinshark.net/feed/bitcoin-affiliated-sec-commissioner-hester-peirce-elected-for-another-5-years http://thecoinshark.net/bitcoin-affiliated-sec-commissioner-hester-peirce-elected-for-another-5-years Sat, 08 Aug 2020 10:03:00 +0000 One of the representatives of the US Securities and Exchange Commission, who positively evaluates cryptocurrencies, will remain in the SEC for another 5 years, according to the official website of the American regulator. Hester Peirce Has a very good reputation among the cryptocurrency community and even received the nickname “crypto mom”. The Senate voted to renew Commissioner Peirce on August 5, 2020. This means that Hester will remain in office until July 5, 2025. An official with extensive experience For the first time, Hester Pearce was nominated for a leading position in the SEC during the Barack Obama administration in 2016, but only the administration of President Donald Trump approved the candidacy in 2017.However, Hester accepted the new powers only in January 2018. In addition to her position as SEC Commissioner, Hester Pearce was an advisor to Commissioner Paul Atkins and a staff attorney in the SEC's Investment Management Department. She also served on the Senate Banking, Housing, and Urban Affairs Committee. Opposed bans The official distinguished herself by a more accepting position in relation to cryptocurrencies, especially in comparison with other members of the US Securities and Exchange Commission. Hester regularly opposed various bans and restrictions on cryptocurrency and tried to find compromises between the regulator and the audience. This year, Commissioner Pearce's appeal regarding the closure of the Telegram Open Network project, with which she strongly disagreed, received great fame. The company “made good faith efforts to comply with the federal securities laws”, the official said. The initiator of help to crypto startups Note that it was Hester Peirce who initiated the Safe Harbor Law, according to which a new blockchain project should have some time to complete development, and only then bring the economic model of the token in line with the US SEC laws.   Bitcoin Whale Sent Over $ 1 Billion BTC With Less Than $ 4 Commission http://thecoinshark.net/feed/bitcoin-whale-sent-over-1-billion-btc-with-less-than-4-commission http://thecoinshark.net/bitcoin-whale-sent-over-1-billion-btc-with-less-than-4-commission Fri, 07 Aug 2020 16:29:00 +0000 The second largest bitcoin wallet made a transaction sending 92,857 BTC ($ 1.1 billion) to two wallets. Sending over $ 1 billion in BTC only cost $ 3.97 in fees, at 83.2 satoshi per byte. The Whale Alert monitoring service wrote about the transaction, identifying the wallet with the XAPO cold storage service. Presumably, over 92,000 BTC were sent for safe storage in a cold wallet. At the moment, 0.0019 BTC remains on the sender's wallet, and the recipient's wallet is now in the TOP-3 of the largest wallets in the bitcoin blockchain. These addresses are not the property of any large businessmen but are used by cryptocurrency exchanges to keep their clients' assets as safe as possible in cold storage in order to protect them from hackers. The exchanges use a network of underground bunkers on five continents in order to keep BTC safe and sound. In May 2018, it was reported that XAPO accounts contained 7% of Bitcoin reserves, which at that time was about $ 10 billion. DEX Uniswap raised $11 million investments http://thecoinshark.net/feed/dex-uniswap-raised-11-million-in-investments http://thecoinshark.net/dex-uniswap-raised-11-million-in-investments Fri, 07 Aug 2020 13:19:00 +0000 The reports of the US Securities and Exchange Commission contain information on the attraction of investments by the developer of the Uniswap decentralized exchange in the amount of $11 million.  Uniswap audience has grown 15 times The June 19 document refers to a deal with 12 investors to whom the securities were sold on June 5. Not so long ago, the developers launched the Uniswap v2 decentralized exchange, the traffic of which has grown 15 times over the past month. “Uniswap has climbed from 90,000 visits in June to 1.42 million in July. This is an absolutely outstanding growth, ” — says Eric Turner from Messari. DEX surpasses industry giants In addition, in the period from mid-June to July 20, the trading volume on the DEX increased from $6 to $43 million, and at the end of last month, the indicator reached a record of $120 million per day. Recall that according to recent information, the trading volume on the Uniswap decentralized exchange exceeded that on the popular cryptocurrency exchanges Gemini, Poloniex, and Binance US combined.   Bitcoin trading in Nigeria is up 60% amid falling dollar http://thecoinshark.net/feed/bitcoin-trading-in-nigeria-is-up-60-amid-falling-dollar http://thecoinshark.net/bitcoin-trading-in-nigeria-is-up-60-amid-falling-dollar Fri, 07 Aug 2020 09:59:00 +0000 According to Coinisider, Nigeria is one of the fastest-growing markets for cryptocurrency in the world and the first country in Africa in terms of bitcoin trading volume. The Blockchain.com study used internal platform data on trading activity in different countries. The results of the study showed that one of the most active "cryptocurrency countries" with a huge volume of transactions with bitcoin is Nigeria BTC is growing in popularity in Nigeria The report indicates that over the past three months, bitcoin trade in the country has grown by 60%: “Nigeria has been the most trending country in recent months. It has increased by 60% its usage of Blockchain.com web wallet since April 2020.” In addition to the growth of operations in cryptocurrency, the general interest in decentralized assets has also increased in the country. According to Google Trends, searches for cryptocurrencies in Nigeria are quite high, with the search phrase “Bitcoin” leading. Falling USD forces investors to look for alternatives The Blockchain.com report includes information on the correlation between cryptocurrencies and the US dollar. After the dollar fell by 4% in June, interest in cryptocurrencies among traders and investors increased. “For the month Bitcoin (BTC) and Ethereum (ETH) were up 24% and 57%, respectively. Other hard assets such as gold registered double digit percentage gains to set a new all-time high in USD terms (+11%). Equities (+6%) and long-dated US Treasuries (+4%) also performed well.” — the report says. Hackers attacked Ethereum Classic network for the second time in a week http://thecoinshark.net/feed/hackers-attacked-ethereum-classic-network-for-the-second-time-in-a-week http://thecoinshark.net/hackers-attacked-ethereum-classic-network-for-the-second-time-in-a-week Thu, 06 Aug 2020 16:46:00 +0000 The blockchain of the popular cryptocurrency Ethereum Classic has undergone a 51% Attack twice in the last week. As a result of the latest destabilization in the network, 4,000 mined blocks were reorganized.  ETC transactions are temporarily suspended Third-party interference became known from the twitter of the Ethermine mining pool, which temporarily suspended the withdrawal of ETC. Following Bitfly, the information was confirmed by the cryptocurrency exchange Binance, stopping operations with ETC. First time hackers stole $ 5.6 million The first attack on the Ethereum Classic network took place on the night of August 1. The hacker rented power from the NiceHash pool for $ 192,000 to using the double-spend principle and double his ETC balance. As a result of the fraudulent actions, the attacker withdrew 807 thousand ETC, which at the current exchange rate is equal to $ 5.6 million. The damage from today's 51% Attack remains unknown. Adam Back compared Ripple and Ethereum to a pyramid scheme http://thecoinshark.net/feed/adam-back-compared-ripple-and-ethereum-to-a-pyramid-scheme http://thecoinshark.net/adam-back-compared-ripple-and-ethereum-to-a-pyramid-scheme Thu, 06 Aug 2020 13:16:00 +0000 The head of the Canadian blockchain company Blockstream, Adam Back, drew attention to the similarity of some popular cryptocurrencies with the structure of classical financial pyramids. Inspired by the Ponzi scheme A well-known businessman in the cryptocurrency community compared Ethereum, Ripple, Stellar, Cardano, and EOS to scams in the form of cryptocurrency pyramids. Adam believes that the creators of these projects are similar to the creator of the first financial pyramid, Charles Ponzi.   The founders of the mentioned projects owned 70% of the emission The entrepreneur backed up his words with the fact that more than half of the entire emission was originally issued by the project owners, and belongs to them. Adam added that Ethereum and Ripple can compete for the title of the largest SCAM Scammers hacked a large YouTube channel to advertise a fake bitcoin giveaway http://thecoinshark.net/feed/scammers-hacked-a-large-youtube-channel-to-advertise-a-fake-bitcoin-giveaway http://thecoinshark.net/scammers-hacked-a-large-youtube-channel-to-advertise-a-fake-bitcoin-giveaway Thu, 06 Aug 2020 09:55:00 +0000  On August 5, Jon Prosser tweeted information about a hacker attack on his Front Page Tech channel with 262 thousand subscribers. Hackers received donations in BTC A tech insider reported that the scammers started streaming to 40,000 viewers and earned at least $ 4,000.  In addition, the hackers changed the name of the channel to “NASA [news]” and deleted an old video from seven years ago. Two hours after Jon Prosser learned of the loss of control of his channel, the YouTube administration blocked Front Page Tech. The channel remains inactive at the moment. Jon said in a tweet that he would have to wait several weeks to regain access.  Scammers managed to hack two-factor authentication Hackers have been active on YouTube for several months now, posing as Elon Musk, Ripple director Brad Garlinghouse and Steve Wozniak. The latter two have already filed lawsuits against the video hosting. However, the Front Page Tech hack is especially surprising as the scammers managed to swap a SIM card and go through two-factor authentication (2FA).  Interestingly, the attack took place the day after Scott Melker's call to  “never use SMS verification as a part of your 2FA”, but use an authenticator on your mobile phone. Young investors prefer Bitcoin while older ones choose gold http://thecoinshark.net/feed/young-investors-prefer-bitcoin-while-older-ones-choose-gold http://thecoinshark.net/young-investors-prefer-bitcoin-while-older-ones-choose-gold Wed, 05 Aug 2020 15:51:00 +0000 From the analysts of the American financial holding JPMorgan Chase & Co, it is clear that the behavior of investors during the COVID-19 pandemic can most likely be explained by their age group, Bloomberg reports. Young investors prefer to take risks despite the crisis Mature investors who are interested in alternative assets tend to have a preference for gold. At the same time, “millennials” are more likely to buy bitcoins and shares of technology companies, says analyst Nikolaos Panigirtzoglou. “The older cohorts continued to deploy their excess liquidity into bond funds, the buying of which remained strong during both June and July,”, noted in a JPMorgan report. The market is gradually awakening after a steep dive Retail investor activity this year has seen a 46% jump in stocks, up from March lows. And also, in the growth of capitalization of funds, stock exchanges backed by gold, and in the recent rise in the price of bitcoin and altcoins. Both gold and bitcoin have behaved in a similar way in recent weeks, triggered by the uncertainty in the global economy and a weakening USD. At the same time, there is still a correlation between BTC and GOLD, and the movement of these assets cannot be linked to each other.   Digital yuan to stop Alibaba's dominance in fintech http://thecoinshark.net/feed/digital-yuan-to-stop-alibabas-dominance-in-fintech http://thecoinshark.net/digital-yuan-to-stop-alibabas-dominance-in-fintech Wed, 05 Aug 2020 12:29:00 +0000 According to the yesterday’s Financial Times report, the digital yuan will play the same role in China's economy that Alibaba and Tencent now have. Digital yuan will strengthen the role of the National Bank Sources close to the People's Bank of China announced the financial institution's plans to simplify payments and interbank settlements in the country, while developing operations within the country. Alipay is currently the industry leader with 55% of China's $ 19 trillion mobile payments market in 2020. The challenge for China's future national cryptocurrency is to change this order of things. “They want a more level playing field for the banks. Alibaba and Tencent so dominate retail payments while banks are less active in electronic payments,” said a senior official at the Hong Kong Monetary Authority. China strives for excellence in the global economy But it turns out that fighting the influence of private companies is not the only goal of the crypto-yuan. The Chinese authorities plan in this way to oust the dominance of the dollar from the world financial markets. At the same time, the senior executive of the payments division at Alibaba said his company is involved in the digital yuan discussion. “In principle, we are supportive. But digital is still a small part of the payments [industry]. The speed of growth, though, is because of what Alipay and Tencent have done,” noted the director of Ant Finance. Digital currencies and blockchain are among the main directions of China's development for the next 5 years. The digital yuan is already being tested on Didi's passenger transportation platform. Sberbank plans to issue a stablecoin of the Russian ruble http://thecoinshark.net/feed/sberbank-plans-to-issue-a-stablecoin-of-the-russian-ruble http://thecoinshark.net/sberbank-plans-to-issue-a-stablecoin-of-the-russian-ruble Wed, 05 Aug 2020 10:03:00 +0000 One of the top managers of Sberbank, the largest bank in the Russian Federation, Sergey Popov, spoke about the possibility of issuing a digital token, which will be used to pay for digital financial assets. Stablecoin will become a digital exchange tool “Probably, we can issue on the basis of the law that has been adopted, a token that we can back up with a ruble, such a corresponding stablecoin, which can become the basis, an instrument for settlements for some other digital financial assets,” he said during an online discussion "Digital financial assets in practice" Law "On digital financial assets" Russian President Vladimir Putin signed the law on the DFA last week. According to the document, the use of cryptocurrencies as a means of payment will be prohibited, but transactions with “digital financial assets” will be legal. Accordingly, banks will have to create a certain infrastructure for such operations. Cryptocurrency settlement will be prohibited The new financial legislation defines DFA as “digital rights, the issue, accounting and circulation of which is possible only by making entries in an information system based on a distributed register”. Assets can be used as collateral, exchange, transactions. However, payment for goods and services using the DFA on the territory of Russia will be prohibited. The Law "On Digital Financial Assets" will take effect from the beginning of 2021. Based on the analysis of changes and the wishes of customers, a decision will be made on the possible release of a stablecoin, according to Sberbank. Mining: how to spend less and earn more http://thecoinshark.net/feed/mining-how-to-spend-less-and-earn-more http://thecoinshark.net/mining-how-to-spend-less-and-earn-more Wed, 05 Aug 2020 08:42:00 +0000 A pretty low level of income, frightening electricity bills, the risk of overheating and virus infection — these and other unpleasant problems are faced by almost all owners of ASICs on factory firmware. But fortunately, a proper custom firmware will help to deal with them. Hiveon ASIC powered by MSKMINER is the leader among many firmware. Check out its features and you will see why. Features of the Hiveon ASIC firmware By using overclocking, you can significantly increase the efficiency of your devices and, accordingly, your income. Take a look at the rates that you can achieve using the Hiveon ASIC firmware (the most popular ASIC models are used as examples): By using the downvolting function, you can reduce your energy consumption and thus reduce your electricity costs. For example, the factory firmware for ASIC S17E consumes 2700 kW of electricity (at 60 Th/s). With the same hashrate, custom Hiveon ASIC firmware consumes almost 2 times less — 1314 kW. Hiveon ASIC firmware provides reliable virus protection (99.9%). This is possible thanks to the constantly updated digital signature and tar vulnerability check. The temperature watchdog reboots the ASIC or stops the mining process if a critical temperature is reached. In addition, to protect your devices from overheating and ignition, the temperature sensor works even during the start. The Hiveon ASIC firmware is also “equipped” with a hashrate watchdog. If the hashrate drops below the norm, the watchdog reboots the device to protect you from losing income. Using Hiveon ASIC, you can adjust the required temperature of the chips — ASICs will maintain it, and their performance will increase. Manufacturing defects of ASICs can lead to short circuits. But not with Hiveon ASIC. Thanks to the short circuit protection function, the mining process automatically stops if there is a danger of fire. Autotune adjusts ASIC chip frequencies to increase hashrate (and your income) and maintain power consumption. Autotune results are “remembered” so profiles can be easily reapplied. For the 17th ASIC series, automatic profile change is provided. ASIC chips stop consuming power in case of loss of the Internet connection — this feature will save you money. The Hiveon ASIC firmware constantly monitors the condition of the equipment, so if any problem is detected, you will be immediately notified about it. Hiveon ASIC firmware users can use the best management and monitoring system Hive OS for free. With its help, you can manage thousands of ASICs at the same time, monitor the hashrate, power consumption, temperature and statuses of each miner, set up different access levels, and so on. Plus, you can count on 24/7 support from the largest mining community. Start mining with Hive OS for free for 1 rig. Hashrate, power consumption, temperature: how to track your statistics on GPU rigs and ASICs effectively How to choose the right ASIC in 2020 Top 6 problems of miners and their solutions 5 life hacks for owners of large ASIC farms The full review of the Hive OS operating system for mining Why does a miner need the Hive OS operating system? Ethereum 2.0 Medalla testnet was successfully launched http://thecoinshark.net/feed/ethereum-20-medalla-testnet-was-successfully-launched http://thecoinshark.net/ethereum-20-medalla-testnet-was-successfully-launched Tue, 04 Aug 2020 16:13:00 +0000 According to The Block Crypto, the Ethereum 2.0 testnet, scheduled for August 4 at 13:00 UTC, has been successfully launched. Preparing to launch Ethereum 2.0 The goal of the test blockchain, codenamed "Medalla", is to finalize the blockchain before the full launch of Ethereum 2.0 According to the Ethereum Foundation blog, there will be five clients running on Medalla's testnet: Teku, Prysm, Nimbus, Lodestar, and Lighthouse. It didn't work out so well According to Cointelegraph, the developers have already faced a problem: only 57% of the Ethereum share in the blockchain is used for validation. This is 23% less than the expected minimum. The developers explain this by the fact that some of those who contributed the obligatory 32 ETH to participate in the testnet simply did not start the validator program. In addition, from the first minutes of Medalla's operation, there were problems with Nimbus and Lodestar customers. If successful, we will see Ethereum 2.0 at the end of the year Earlier it was reported that the launch of Ethereum 2.0 may occur no earlier than early next year. However, depending on the success of Medalla's testing, an official release could also occur in November 2020 The release of weak ASICs from Canaan and Ebang affected the profits of mining giants http://thecoinshark.net/feed/the-release-of-weak-asics-from-canaan-and-ebang-affected-the-profits-of-mining-giants http://thecoinshark.net/the-release-of-weak-asics-from-canaan-and-ebang-affected-the-profits-of-mining-giants Tue, 04 Aug 2020 13:14:00 +0000 The presentation of devices from two major manufacturers of Bitcoin mining equipment surprised the public very much: experts called the new miners a “step backward” and predicted big losses. And they were right. At the end of spring, 2 large corporations that produce mining devices presented their new devices, which went on sale in June this year.  Avalonminer 1146 Pro from Cаnaan and its characteristics Ebang e12 + specifications It turned out that the devices are significantly inferior to the top models of competitors Bitmain and MicroBT, the power of which is almost two times higher than the new items. TOP devices for mining BTC at the time of Canaan and EBANG presentations Devices were not the best investment To better understand the difference, compare Bitmain's Artminer s19, which is only the fourth in the ranking, with the new Avalonminer 1146 Pro from Canaan. The former was able to provide the owner with a profit of $ 5 per day, while the minimum daily profit of the new Avalonminer was only 80 cents. In terms of profitability, MicroBT devices are approximately on a par with Bitmain miners, but they will not be available for sale until October this year. Yesterday's leaders are losing leadership It became clear to experts that Canaan and Ebang could not seriously compete with other industry leaders, since after the bitcoin halving on May 11, 2020, the expected “to the moon” did not happen. Users predicted big losses to companies, and from Canaan's reports for the first quarter of 2020, it became known that the company “went into the red” by more than $ 5.6 million. As for EBANG, the company's shares on the Nasdaq dropped from $ 5.23 to $ 4 after an extremely unprofitable 2019. Both companies cite the COVID-19 pandemic as the main cause of losses, although Internet users are confident that the release of non-competitive devices also played a role. Coronavirus Causes Decrease in Activity of Crypto Traders in Japan http://thecoinshark.net/feed/coronavirus-causes-decrease-in-activity-of-crypto-traders-in-japan http://thecoinshark.net/coronavirus-causes-decrease-in-activity-of-crypto-traders-in-japan Tue, 04 Aug 2020 09:49:00 +0000 The Japanese regulator JVCEA has published a report that says the number of active traders in the country has decreased since March 2020. Japanese trust traditional currencies more After the announcement of the state of emergency, activity on cryptocurrency exchanges decreased as people began to save more fiat money as a "safety cushion" for the future. According to the report, the number of active trading accounts for the month decreased by almost 4,000. Deposits on exchanges have grown Against the background of a decrease in the number of active traders, the average size of fiat deposits increased. This may be due to the fact that the country's government allocated financial assistance to households in the amount of about 940 dollars (100,000 yen), some of which remained in the Japanese accounts. After the country's Prime Minister Shinzo Abe declared a state of emergency on April 8, many crypto traders exchanged digital assets for fiat to insure themselves against worsening personal financial situation, job loss and other possible shocks. Trade hasn't stopped Despite this data, the general interest in cryptocurrencies in Japan has not decreased, according to local trader Yuya Hasegawa. At a minimum, the recent rise of Bitcoin to the level of $ 12,000 and the growth of the entire Altcoin market can show the popularity of the cryptocurrency.   Huobi Subsidiary Receives Important Licenses From Japanese Regulator http://thecoinshark.net/feed/huobi-subsidiary-receives-important-licenses-from-japanese-regulator http://thecoinshark.net/huobi-subsidiary-receives-important-licenses-from-japanese-regulator Mon, 03 Aug 2020 15:34:00 +0000 According to a report dated August 3, 2020, the SFC of Japan has granted valuable asset advisory and asset management licenses to the Huobi Asset Management company. Huobi continues its offensive in all directions Just 4 months after the internal token of the Huobi Token (HT) platform hit the history books as the first officially sanctioned by the Japan Financial Services Agency, but Huobi surprises with new achievements. Huobi Asset Management, a subsidiary of Huobi Global, has announced two approvals from the Japanese Securities and Futures Commission (SFC). The firm will now be able to provide advisory services to clients on issues related to securities, as well as provide asset management services to institutional investors. Business for the benefit of the entire industry Huobi Tech CEO Elaria San is confident that the new licenses will help the company bring the cryptocurrency space closer to the traditional financial system: “The Asset Management Arm is manned by a team of investment experts with extensive traditional securities investment experience and massive deep knowledge in blockchain and the crypto industry. As a fully compliant trusted platform, we are optimistic that the firm could further bridge the gap between traditional and digital asset class investments and provide our professional investors with integrated solutions.” Cryptocurrency exchange Huobi pays significant attention to the development of the entire cryptocurrency industry. This spring, the company partnered with the Cred platform to bring crypto lending to Huobi Wallet users.  Start trading on Huobi   How to choose the right ASIC in 2020 http://thecoinshark.net/feed/how-to-choose-the-right-asic-in-2020 http://thecoinshark.net/how-to-choose-the-right-asic-in-2020 Mon, 03 Aug 2020 13:26:00 +0000 How to choose an ASIC that will bring you stable income and, at the same time, won’t be too difficult to operate? Considering the situation with halving, this question is very relevant, so here is the description of the criteria which you should keep in mind when choosing a new device (or devices). How efficient is your potential ASIC? What do your profits and the ASIC’s payback speed directly depend on? Definitely, that’s the cost of energy and the hashrate that you can achieve on a specific device. This means that when choosing an ASIC you should carefully check the combination of consumed energy and overclocking profiles. Compare several models and choose the most profitable one.  Apart from this, after you buy an ASIC, it is recommended to equip it with Hiveon ASIC firmware. With its help, you will be able to follow one of these scenarios: Reducing the energy consumption and keeping the hashrate at the current level Increasing the hashrate and keeping the energy consumption at the current level Maximizing the hashrate and increasing the energy consumption Here is an example for you to prove the efficiency of the Hiveon ASIC firmware. So, the ASIC Antminer T17 stock firmware allows to reach only 40TH/s. At this rate the device consumes 2200W. At the same hashrate but with the Hiveon ASIC firmware, ASIC Antminer T17 consumes only 1816W, and the maximum hashrate is 56TH/s (on a standard PSU). Is an ASIC easy to manage? The simpler the device is to manage, the more attention you can pay to mining. Hive OS can significantly simplify the management process, so, first of all, pay attention to those ASIC models that can be combined with this system.  Numerous models are supported: Antminer, Innosilicon, Whatsminer and so on. You can check the full list here.  After installing Hive OS, you will be able to manage your ASICs remotely, to monitor the condition and performance of the devices, and so on. Find out more about features of Hive OS here.  Is it easy enough to get spare parts? The availability of spare parts is another factor that can affect the choice of ASIC. So, is it possible to buy spare parts in your city or at least the country? How much do they cost? It is highly recommended to choose those devices for which you can get spare parts in the shortest possible time. Thus, if one of the ASIC’s parts has to be replaced, you will be able to solve this issue quickly and, therefore, to prevent long pauses in mining on this particular ASIC and loss of profits.  Please keep in mind the following two factors. First of all, Bitmain is the most popular manufacturer. Secondly, there are virtually no interchangeable parts on ASICs. Fans can be an exception, but everything depends on their size. For instance, Bitmain devices have fans of the same size, but the Innosilicon fans are bigger. The control boards for the 17th Bitmain series (S17 and T17) are also interchangeable.   What’s about the warranty? Carefully check all the conditions of the warranty service and find out the following:  What is the term of the warranty? The longer the warranty is valid, the better. Which cases are not warranties for your potential device? Does your city (or country) have a warranty service center? If no, look for the post-warranty one. Keep in mind that sometimes it is cheaper and easier to choose a post-warranty center. Warranty repairs sometimes require much more time, which means downtime of a device and loss of your profit. How much does an ASIC cost?  If you are going to buy a lot of ASICs, their price can be a decisive factor. Usually, the cost of an ASIC directly depends on its performance. Compare several suppliers — do not stop only at one of them. Some companies tend to increase the price purposely, so you can overpay if you don’t check what other sellers offer. It would be also wise not to buy new devices right after their release — their price is the highest during this period. Instead, wait for a while until their price will slightly decrease. Apart from this, if you wait, you will get an opportunity to check reviews about new ASICs.  Keep in mind that it is also important to find out how much energy the device consumes on the terahash. For instance, some ASICs consume only 1.6 kW, while others — 6 kW. After all, a device consuming 6 kW will be much more expensive, as you will spend a large part of your income on paying for electricity. Highly productive ASIC models in 2020  Take a look at the rating of highly productive ASICs: Bitmain Antminer Т17 (old generations) It is considered to be one of the most durable and reliable ASICs; This ASIC is easy to overclock; Control boards of the 17th series are interchangeable; Bitmain fans are interchangeable as well; It is compatible with Hiveon ASIC firmware (you will be able to reach 56TH/s with standard PSU). Besides, when using the Hiveon ASIC firmware and operating the ASIC properly, it is possible to increase the ASIC’s service life by 1 year. Bitmain Antminer S17 Pro This ASIC boasts high reliability and durability; It is also easy to overclock; Bitmain fans are interchangeable; This ASIC is compatible with Hiveon ASIC firmware — with standard PSU you will be able to reach 80.1TH/s. Innosilicon T3 This ASIC is highly reliable; It has enhanced cooling system; ASIC Boost is included; You will be able to reach 43TH/s. Whatsminer M20S This ASIC is efficient and highly reliable; It allows reaching 68TH/s. It would be wise to start exploring the market and choosing ASICs right now, as it is likely that within one year (or even 6 months) ASICs will increasingly displace GPU rigs. Apart from this, keep in mind that the stock features of ASICs are not the limit. Their performance and your profits can be increased with the help of the Hiveon ASIC firmware powered by MSKMINER. In turn, the energy consumption can be reduced. Start mining with Hive OS for free for 1 rig. Hashrate, power consumption, temperature: how to track your statistics on GPU rigs and ASICs effectively Mining: how to spend less and earn more Top 6 problems of miners and their solutions 5 life hacks for owners of large ASIC farms The full review of the Hive OS operating system for mining Why does a miner need the Hive OS operating system? Opinion: Bitcoin Will Not Meet Serious Resistance Under $28,000 http://thecoinshark.net/feed/opinion-bitcoin-will-not-meet-serious-resistance-under-28-000 http://thecoinshark.net/opinion-bitcoin-will-not-meet-serious-resistance-under-28-000 Mon, 03 Aug 2020 12:21:00 +0000 At the moment, the price of bitcoin is reaching $ 11,160 after the rate of the first cryptocurrency briefly exceeded the $ 12,000 mark, which has not been observed over the past 12 months. Bears have not set serious resistance levels On the way to Bitcoin reaching the $20,000 mark, there are only 2 serious resistance levels - the recent $12,300 and $14,000, set by the bears in August 2019. Cryptocurrency expert Max Keizer is sure that Bitcoin only awaits really serious resistance at the $28,000 level, and it is not so difficult to overcome all the levels preceding this indicator.   Not everyone agrees with the analyst's optimism Not everyone agrees with Max's opinion, since the only case of BTC reaching the price of $ 20,000 was provoked mainly by a strong fear of losing an investment opportunity (FOMO index). But it is worth noting that Bitcoin now has more serious reasons for growth, for example, the purchase of huge amounts of BTC by the large Grayscale trust fund. Decentralized energy will power the future of DeFi http://thecoinshark.net/feed/decentralized-energy-will-power-the-future-of-defi http://thecoinshark.net/decentralized-energy-will-power-the-future-of-defi Mon, 03 Aug 2020 09:25:00 +0000 Decentralized Energy DeEn should become a part of the decentralized finance industry as it uses DAPPs and Ethereum smart contracts. Independent electricity suppliers On July 31, Berlin-based blockchain startup Lition released a paper that highlighted the impact of DeEn applications on the future development of the decentralized finance industry (DeFi). DeEn Services operate on the same principle as DeFi Apps, allowing the consumer to choose their own electricity providers. DeEn will develop green power plants Similar to DeFi, decentralized energy services are a peer-to-peer P2P network where the consumer contacts the service provider directly, bypassing unnecessary intermediaries, as in the traditional energy industry. Thus, the consumer can control the type of electricity production and change the supplier at any time. As an example, Lition cited their own service: a peer-to-peer network without intermediaries, in which smart contracts and blockchain allow consumers to obtain affordable energy from renewable sources, caring for the environment. DeEn must provide a decentralized finance market The DeFi ecosystem continues to evolve, constantly expanding, and scaling the market. Accordingly, a large number of applications, blockchain networks, and services require a large amount of electricity, the sources of which cannot be tracked at the moment. For the further development of the industry, it is necessary to take DeEn out of state control, making them truly decentralized, according to Lition. Note that the European Union by 2050 is going to completely switch to renewable energy sources, primarily using solar and wind power plants.   US Police Believe Florida Teenager Hacked Elon Musk's Twitter http://thecoinshark.net/feed/us-police-believe-florida-teenager-hacked-elon-musks-twitter http://thecoinshark.net/us-police-believe-florida-teenager-hacked-elon-musks-twitter Sun, 02 Aug 2020 16:08:00 +0000 Law enforcement agencies of the United States of America arrested an underage guy Graham Clark. He is accused of the recent high-profile hacking of the social network Twitter. Where is it coming from? The information appeared on the local TV channel WFLA. What happened? Recall, the official Twitter pages of such eminent people as Elon Musk, Bill Gates, Changpeng Zhao, and many others were recently hacked. On behalf of the world`s largest businessmen and inventors, the attackers arranged a fake distribution of digital assets and received more than $120,000 from naive users. Accusations against Graham Clark The Florida State Attorney's Office has filed 30 charges against Clark, and the 17-year-old suspect is currently in jail awaiting trial. Decentralized Finance (DeFi) Capitalization Exceeded $4 Billion http://thecoinshark.net/feed/decentralized-finance-defi-capitalization-exceeded-4-billion http://thecoinshark.net/decentralized-finance-defi-capitalization-exceeded-4-billion Sat, 01 Aug 2020 15:04:00 +0000 The total amount of money frozen in Decentralized Finance (DeFi) has surpassed the $4 billion psychological mark. Maker - the undisputed leader As of August 1, 2020, the project Maker is a leader, it accounts for almost a third of the entire industry capitalization. Three leaders in numbers The capitalization of Maker is $1.23 billion. The Compound took second place with a huge margin with $707.5 million, and the bronze goes to Synthetix - $506.3 million. Synthetix innovation Recall, the Synthetix derivatives platform has moved to a decentralized management model. Coinbase Introduces New DAI Rewards Deposit Program http://thecoinshark.net/feed/coinbase-introduces-new-dai-rewards-deposit-program http://thecoinshark.net/coinbase-introduces-new-dai-rewards-deposit-program Fri, 31 Jul 2020 14:15:00 +0000 Representatives of the largest cryptocurrency exchange offered DAI stablecoin holders to earn 2% per year. Where is it coming from? The information appeared on the official Coinbase Twitter. https://twitter.com/coinbase/status/1288528011038461952 Who can use it? This offer is available not only for US residents but also for residents of Spain, UK, Australia, France, and the Netherlands. DAI Rewards Program Terms To receive a reward, clients need to make a deposit of 1 DAI. Interest will be calculated every five days first, later they will come every day.   Fidelity Investments Calls Bitcoin A Store Of Value And Insurance Against The Crisis http://thecoinshark.net/feed/fidelity-investments-calls-bitcoin-a-store-of-value-and-insurance-against-the-crisis http://thecoinshark.net/fidelity-investments-calls-bitcoin-a-store-of-value-and-insurance-against-the-crisis Fri, 31 Jul 2020 11:26:00 +0000 A report from the division of the digital assets of Fidelity Investments highlighted the relevance of bitcoin as an insurance policy that solves financial problems. Analysts called it an "an aspirational store of value". Bitcoin is a new store of value According to analysts at Fidelity Digital Assets, Bitcoin's potential is increasingly in line with the parameters of a store of value. FDAS experts positively assess the volatility of digital gold. In their opinion, it is a valuable property that draws attention to cryptocurrency, contributes to its development, and stimulates innovation. The report noted that Bitcoin has not yet been associated with digital gold. However, when the time comes, the value of Bitcoin will rise significantly. Impact of quantitative easing policy Part of the report is devoted to the analysis of the consequences of active emission, which leadership of Central Banks did in the conditions of COVID-19. Analysts at Fidelity Digital Assets predict that unprecedented low interest rates and record-breaking credit stimulus amid de-globalization provoke a further decline in confidence in fiat currencies. The consequence of this is the expected awareness of the real value of bitcoin. FDAS notes that the young generation is increasingly interested in bitcoin. The positive attitude of young people is a sign of a long-term positive outlook for Bitcoin. More about Fidelity Investments Fidelity Investments manages $7.3 trillion. Since October 2018, a division has been operating in the company structure, providing services to investors interested in buying and selling Bitcoin and Ethereum. Crypto Miners And Power Plants In Iran Received Permission To Cooperate http://thecoinshark.net/feed/crypto-miners-and-power-plants-in-iran-received-permission-to-cooperate http://thecoinshark.net/crypto-miners-and-power-plants-in-iran-received-permission-to-cooperate Fri, 31 Jul 2020 08:23:00 +0000 The Iranian government has given official permission for licensed mining centers to cooperate with power plants. Crypto miners will pay the full cost As a matter of fact, this kind of cooperation is allowed only in case of strict adherence to the established tariffs. That is, miners will not be able to use electricity subject to subsidies. Statement by top official Mostafa Rajabi Mashhadi "Now we’re in a situation where the supply of electricity is of great importance to the public. We will not allow anyone to misuse tariffs provided for the agricultural and industrial sectors” –  the energy spokesman said. Iranian authorities vs miners Recall in November last year, the Iranian authorities introduced a ban on the mining of cryptocurrencies during peak hours. Besides, the government even introduced a reward for information about the illegal mining of cryptocurrencies - 10 million riyals ($237.5). Expensive Transactions: Fees Significantly Increased On BTC And ETH Networks http://thecoinshark.net/feed/expensive-transactions-fees-significantly-increased-on-btc-and-eth-networks http://thecoinshark.net/expensive-transactions-fees-significantly-increased-on-btc-and-eth-networks Thu, 30 Jul 2020 14:27:00 +0000 In July, the fees in the Bitcoin network increased significantly, a similar picture is observed in the Ethereum network. Bitinfocharts data So, BTC fees grew 7.5 times over the month, and ETH - 2.8 times. The data appeared on the official website of the blockchain browser bitinfocharts.com. Bitcoin fees For example, at the end of June, the average fee on the Bitcoin network was 68 cents, and now it is $5.8. Although this figure has grown significantly, it is still very far from the historical maximum, recorded in December 2017, then fee for one transaction was $55. Ethereum fees The brainchild of Vitalik Buterin also became more expensive in service, but the numbers are much lower: the fee has grown from 50 cents to $1.9, which is only 280%. A Loophole In The Law: BTC Can Be Used In China http://thecoinshark.net/feed/a-loophole-in-the-law-btc-can-be-used-in-china http://thecoinshark.net/a-loophole-in-the-law-btc-can-be-used-in-china Thu, 30 Jul 2020 11:55:00 +0000 Bitcoin is not banned on the territory of China, but only if it is a digital commodity. Where is it coming from? The corresponding statement was published on the official website of the Beijing Arbitration Commission. A loophole in legislation The staff of this institution clarified the current legal status of the first cryptocurrency in China. If you carefully read the legislation of this country, you can see that BTC does not fall under the ban if it is not considered as fiat money. The attitude of the authorities towards BTC That is, in China, you cannot exchange Bitcoin for real money or sell it on crypto-exchanges. Recall that last week, the PRC government gave a definition of distributed ledger technology, including cryptocurrencies. Two Ukrainians Face 6 Years In Jail For Illegal Exchange Transactions http://thecoinshark.net/feed/two-ukrainians-face-6-years-in-jail-for-illegal-exchange-transactions http://thecoinshark.net/two-ukrainians-face-6-years-in-jail-for-illegal-exchange-transactions Thu, 30 Jul 2020 09:12:00 +0000 Cyber police officers in the Khmelnytsky region arrested two men who are suspected of creating a crypto-exchanger without a license. Police version From the information provided by law enforcement agencies, the suspects illegally converted digital and some electronic currencies prohibited on the territory of Ukraine. There were two men, citizens of Ukraine, 35 and 45 years old. Arrest and raid During the raid, cyber police officers found material evidence of the suspects' illegal activities: accounts in electronic payment systems; bank accounts; crypto addresses. What waits for the criminals? A criminal case was opened, if the guilt of the suspects is proven, they face punishment in the form of imprisonment for up to 6 years. Top 6 problems of miners and their solutions http://thecoinshark.net/feed/top-6-problems-of-miners-and-their-solutions http://thecoinshark.net/top-6-problems-of-miners-and-their-solutions Wed, 29 Jul 2020 14:00:00 +0000 Infection of the entire farm with a virus due to one infected ASIC, hashrate theft, and excessive energy consumption. Is these problems sound familiar, don't they? Sometimes it can be quite expensive to solve them, but it is possible to prevent them from happening. Take a look at a list of solutions to the most popular problems that miners have to face. Problem 1: the entire farm “catches” a virus because of one infected ASIC Imagine the following: you own a large farm, and one of your ASICs gets infected with a virus. As a result, the entire farm “gets sick”, which leads to the loss of profit. In addition, some viruses are very difficult or almost impossible to get rid of, and you will have to spend money and time to bring your farm back to its normal state. How to solve this problem? The best thing you can do is to prevent the infection. Your actions: Install on your ASICs the Hiveon ASIC firmware. Thanks to the tar vulnerability check and a regularly updated signature, it ensures reliable protection from viruses. The firmware can help even if you install it on the already infected ASIC — the digital signature will block the virus (but don’t forget that sometimes the only way to get rid of the virus is to replace the control board). Notifications are another useful feature of the Hiveon ASIC firmware. You will get notifications about the problems right on your dashboard. It is also recommended to install the monitoring and management system Hive OS. It will be constantly checking the condition of your ASICs, and if one of them is at risk, you will immediately get a message about this and be able to prevent the infection of the entire farm. Apart from this, Hive OS is free for Hiveon ASIC users. Problem 2: someone regularly steals the hashrate Imagine this situation: you own a large farm, and to ensure its normal operation, you hired an entire team. It includes administrators and technical experts. You trust these people, and everything seems to be okay, but at some point you notice that your income has decreased — someone steals your hashrate regularly. Fortunately, Hive OS can help in this case too. Your actions: Hive OS has two features that can help you to prevent this problem. First of all, you can set up different access levels for administrators and technicians. The following levels are available: Monitor Access and Full Access. The first of them can be provided to your technicians — thus, they will have no access to pools and other important settings. They will only be able to monitor statistics, statuses and so on — they simply will have no opportunity to steal your hashrate. In turn, Full Access means full access to the farm, and it can be granted to your administrators. When you set up access levels, the list of potential burglars will be significantly shorter — only those team members who have full access will be able to steal the hashrate. Another useful feature of Hive OS is activity logs. Using them, you can track the actions of your team and always be aware of what each participant is doing. So if your administrator steals a part of your hashrate, you will immediately notice this. Problem 3: ASICs consume too much energy Let’s suppose that your farm consists of hundreds or even thousands of ASICs. Since you have so many devices, you make good money, but you have to spend almost all of your income on electricity bills. Yes, ASICs need a lot of energy, especially during overclocking. But there is a way to reduce energy consumption. Your actions: Hiveon ASIC firmware has a lot of useful features, and one of them is called downvolting. Using it, you can decrease energy consumption even during overclocking, so you will pay less for electricity. Besides, downvolting will help your devices to avoid overheating.  Problem 4: ASIC’s manufacturing defects led to ignition Another situation: one of your ASICs suddenly ignites. Fire leads to serious damage, and you don’t even know if the device can be repaired. Looking for the cause of the fire, you determine that it happened due to manufacturing defects of the device that led to a short circuit. In turn, a short circuit caused a fire. Yes, the situation is very unpleasant, but it is possible to avoid it. Your actions: Again, Hiveon ASIC firmware will help you. It ensures the additional protection of ASICs’ boards and chips and, in this way, prevents short circuits caused by manufacturing defects. If there is a risk of ignition, the mining process stops automatically, and your device doesn’t get affected.  Problem 5: it’s essential to monitor the temperature all the time  Now imagine the following: your farm consists of several thousand ASICs, and you, as a responsible miner, constantly monitor their temperature in order to avoid overheating. But this process takes you too much time, and keeping track of all the devices at the same time is not easy — when there are several thousand of them, you may simply not notice the problem. As a result, one or more of your ASICs will overheat, and, in turn, the downtime will affect your income. But, fortunately, there is a much more efficient way to monitor the temperature of the devices. Your actions: Hive OS will come in handy one more time. First of all, it will provide you with a heatmap of your workers — on it, you will see the temperature of all the devices at once. If one of the workers reaches a critical temperature, you will easily notice this — such a device will be red on the map. In addition, Hive OS has an autofan function. You only need to set the target temperature — the fan speed will be controlled automatically, so that your workers will maintain the required temperature. Also, use Hiveon ASIC firmware. It is “equipped” with a special controller that monitors the temperature of chips and printed circuit boards. If the critical temperature is reached, the controller automatically restarts the ASIC or stops the mining process to prevent damage to the device. And one more thing — Hiveon ASIC firmware does not have the quiet start feature. The thing is that with a quiet start, the temperature sensor doesn’t work, so if the ASIC reaches the critical temperature, you won’t notice this. As a result, the device may get damaged. Problem 6: ASICs work unstably And the last situation: you purchased equipment and organized your mining farm. Everything seems to be fine, but after the start of mining, you constantly encounter disconnections and reboots of ASICs. Moreover, this happens massively and leads to equipment downtime and a serious loss of profit. Fortunately, this unpleasant problem can be avoided. Your actions: And again, use Hive OS — this system guarantees reliable stability of your equipment. Using it, you can even easily launch various builds. Your devices will work stably, without sudden reboots and shutdowns. Hiveon ASIC firmware and Hive OS can help you prevent and solve many problems. The team is also constantly adding new useful features, so be sure to follow them on Facebook to keep up to date. Start mining with Hive OS for free for 1 rig Hashrate, power consumption, temperature: how to track your statistics on GPU rigs and ASICs effectively Mining: how to spend less and earn more How to choose the right ASIC in 2020 5 life hacks for owners of large ASIC farms The full review of the Hive OS operating system for mining Why does a miner need the Hive OS operating system? Kyiv Detonators And Bitcoin Blackmailers Arrested http://thecoinshark.net/feed/kyiv-detonators-and-bitcoin-blackmailers-arrested http://thecoinshark.net/kyiv-detonators-and-bitcoin-blackmailers-arrested Wed, 29 Jul 2020 14:00:00 +0000 Ukrainian law enforcement agencies have arrested two men who are suspected of organizing several explosions in the Ukrainian capital and extortion of 50 BTC. Where is it coming from? The information appeared on the official Facebook of the Security Service of Ukraine. https://www.facebook.com/SecurSerUkraine/posts/2765253240371330 What is known? Investigators believe that the suspects are responsible for two explosions: one near the Shulyavskaya metro station, and the second in a residential building. The criminals got in touch with the SBU officers after the first explosion and demanded 50 BTC. Also, they posted relevant announcements near the entrances of residential buildings and threatened local residents. “Your house or another will be blown up within 24 hours.The President, the police and the media have been warned many times.As proof of his intentions he gave explosive devices on the Minskaya metro station. I blew up explosives on the Shulyavka metro station. Do not believe, then receive. You have 12 hours to transfer 50 bitcoins to my wallet. Later, the price will double. After the first explosion, I will continue in 12 hours.” Police actions Deputy Minister of Internal Affairs of Ukraine Anton Gerashchenko said that the Security Service officers managed to defuse two more explosive devices. During the arrest, they found physical evidence, indicating their involvement in these incidents. If their guilt is proven, they will face 7 - 12 years in prison.   The Number Of Active Bitcoin Addresses Exceeded 1 Million http://thecoinshark.net/feed/the-number-of-active-bitcoin-addresses-exceeded-1-million http://thecoinshark.net/the-number-of-active-bitcoin-addresses-exceeded-1-million Wed, 29 Jul 2020 12:28:00 +0000 Amid the crypto rally, the number of active wallets on the Bitcoin network has sharply increased. To date, there are 1,081,981 wallets. Where is it coming from? The information appeared on the official website of the analytical company Arcane Research. Historical record As a matter of fact, a larger number of active addresses in the network of the first cryptocurrency was fixed only in the period between December 2017 and January 2018. At the time, the cryptocurrency market was on the biggest rise in history. What is an active BTC address? Active addresses are those wallets that either accept at least one incoming transaction or carry out one outgoing transaction a day. Grayscale Crypto Trusts Receive Over $1 Billion In 11 Days http://thecoinshark.net/feed/grayscale-crypto-trusts-receive-over-1-billion-in-11-days http://thecoinshark.net/grayscale-crypto-trusts-receive-over-1-billion-in-11-days Wed, 29 Jul 2020 09:15:26 +0000 Grayscale has shown an absolute record in fundraising: between July 17 and July 28, they received more than $1 billion in investments. Where is this coming from? The information appeared on the official page of the Grayscale company on Twitter. https://twitter.com/GrayscaleInvest/status/1288220530382954496 Investment in numbers As expected, BTC trust was the most replenished, it got $782 million, followed by ETH trust with $174 million, the ETC fund received $12.7 million, and LTC - $6,7 million The general situation in the company The total investment capital of all of the company has exceeded $5.1 billion and Grayscale is only picking up the pace. The previous record for raising capital was $900 million in the second quarter. Buterin Wants To Speed Up Work On Ethereum 2.0 http://thecoinshark.net/feed/buterin-wants-to-speed-up-work-on-ethereum-20 http://thecoinshark.net/buterin-wants-to-speed-up-work-on-ethereum-20 Tue, 28 Jul 2020 15:53:00 +0000 Vitalik Buterin, creator and mastermind of the second-largest cryptocurrency by capitalization and popularity, asked the development team to speed up work on Ethereum 2.0. Pick up the pace Buterin believes that it is necessary to prepare Ethereum 2.0 clients as soon as possible and test them in real conditions. He wrote about this on the Reddit website. https://www.reddit.com/r/ethereum/comments/hy4we9/beyond_phase_0 No need to write from scratch He added that many of the specifications that make up the first phase have already been made in the zero phase, therefore, developers only need to optimize, not re-create them. What problems can arise? Buterin is concerned about peer-to-peer sharding, which has never been used in such scenarios before. He wants to launch an ETH 2.0 client on the existing ETH 1 network at the same time as the first phase. Thus, he can test a new network, as well as achieve a throughput of 100 thousand transactions per second.   Russian Became A Victim Of Crypto Scammers http://thecoinshark.net/feed/russian-became-a-victim-of-crypto-scammers http://thecoinshark.net/russian-became-a-victim-of-crypto-scammers Tue, 28 Jul 2020 12:15:00 +0000 The St. Petersburg police got a statement from a local resident, he claimed that he was deceived by unknown cryptocurrency traders and lost 800 thousand rubles (about $11,200). Desire to get rich The man wanted to make money trading digital assets and decided to invest in this industry. Meet scammers Last month, the victim met a woman who convinced him to transfer his hard-earned money to a platform called “BTC GENERATION”. Transfer of funds Once a doctor from St. Petersburg agreed to invest the above amount to the indicated address, the mysterious woman stopped responding to his messages. Bitcoin`s Strong Growth Acceleration Up To $11,400 http://thecoinshark.net/feed/bitcoins-strong-growth-acceleration-up-to-11-400 http://thecoinshark.net/bitcoins-strong-growth-acceleration-up-to-11-400 Tue, 28 Jul 2020 09:04:00 +0000 The rate of the first cryptocurrency continued to grow at a rapid pace, on the night of July 28, it reached $11,400. Elimination of short positions The reason for this rapid boost was the massive closure of bitcoin derivatives shorts totaling almost half a billion US dollars. https://twitter.com/CL207/status/1287888468954120192 Bakkt breaks records Another historic high in daily trading volume was hit yesterday on the regulated BTC futures trading platform Bakkt - 8,619 new contracts were opened in 24 hours, worth more than $97 million. https://twitter.com/BakktBot/status/1287998191212920834 Reaching an annual high Yesterday Bitcoin rose 11.1% and set an annual high. The last time such a rate was recorded was September 6, 2019. As of the time of this writing, the BTC rate is $10,900.   5 life hacks for owners of large ASIC farms http://thecoinshark.net/feed/5-life-hacks-for-owners-of-large-asic-farms http://thecoinshark.net/5-life-hacks-for-owners-of-large-asic-farms Mon, 27 Jul 2020 15:19:00 +0000 How to make the process of managing a farm as simple and convenient as possible? Those who own large ASIC farms or mining hotels often ask this question, and the answer is here. This article covers five useful features of the Hive OS, the most effective and convenient to use monitoring and management system that will help to simplify the farm management process. Organising workers into farms Owners of mining hotels (or administrators of several clients) often categorise their user base in Hive OS by farms. In the context of mining, a farm is a group of devices (so-called workers). Workers of one farm are isolated from all other workers. This means that every farm has its specific general statistic (energy consumption, hashrate, the quantity of workers with problems, and so on). It is very convenient and easy to “accommodate” individual clients or separate premises in this way. In addition, on the farm you can apply any actions in bulk (for instance, changing a pool). In Hive OS you can also set up different levels of access for other accounts. For example, an administrator can have full access to all the farms that he manages, and he can give the right to monitor any farm to another account (managing the farm will be impossible for this account in this case). In addition, the client can get notifications (in Discord or Telegram) in case there are any issues with the devices or in order to discover their statistical data. Using tags in order to distinguish workers or clients Using tags can help in many situations, and here are some of them: Describing problems with the equipment. For example, you can use such tags as “Replace a fan”, “Replace a board”, and so on. Thus, it will be very easy for you to keep a record of workers with problems and to maintain them. Using tags for sorting problematic devices Marking the devices that have certain nuances. For instance, you can use the following tags: “Not to overclock”, “A problem with a flash drive”, and so on. Distinguishing the clients. This can be done not only with the help of farms, but also using tags. Let’s suppose that a mining hotel has several dozen clients, and each of them has 20 ASICs. Creating dozens of farms may not be the best solution, since you will have to go into each of them separately to perform various actions in bulk. Let’s say, in case someone needs to change the overclocking profile on all the ASICs because of a potentially dangerous temperature change, this person will have to do this for each farm separately, because Hive OS does not allow performing actions in bulk for farms (for all workers on the farm — yes, but not for all the farms at once). However, using tags, you can easily distinguish different clients in one farm, and at the same time, if necessary, perform the required actions massively. Statistics At the moment, Hive OS offers statistics for each individual worker and for the entire farm at once. Checking the statistics of the device, you can see the graphs of energy consumption, fan speed, hashrate and temperature. In turn, statistics of the farm show the number of active workers and hashrate. It is possible to export the statistics to a .csv file. In this way, you can easily and quickly calculate the exact or average value for any period or even create your own graphs. Statistics on power consumption, hashrate, fan speed and temperature Bulk installation There are several ways to install Hive OS on your ASIC: To install from another ASIC (with access via SSH). To search for all the ASICs in the local network by the given address ranges. The result of the search is a list of IP addresses to which Hive OS will be installed. You can also create this list manually or simply copy it from BTC Tools. In case the workers’ names are added to the list, they’ll have the provided names in the web interface of Hive OS. To install the firmware in bulk. To install the Hive OS client on any ASIC Antminer massively (via SSH). To apply farm_hash massively. All the essentials guides and instructions can be found on our Github or Youtube channel.  Bulk installation of firmware via web interface Bulk actions You can massively apply various actions to ASICs: overclocking, changing a wallet or pool, etc. In the web interface of Hive OS, you can select all the workers of your farm with one click, or select only a specific device at a time. Apart from this, it is possible to select all the workers on a particular page. After that, you can perform these actions massively: Changing an overclocking profile. Flashing the workers. Applying the flight sheets (using them you can switch between wallets and pools on your workers). Turning off or rebooting the workers. Sending a command using Shell (remote access to the devices). Applying a watchdog. Bulk application of flight sheets All the features described above will be very useful to all owners of large ASIC farms, because they give users with freedom of action in almost any case. Therefore, use them when managing your mining farms — they will simplify your life. Start mining with Hive OS for free for 1 rig. Hashrate, power consumption, temperature: how to track your statistics on GPU rigs and ASICs effectively Mining: how to spend less and earn more How to choose the right ASIC in 2020 Top 6 problems of miners and their solutions The full review of the Hive OS operating system for mining Why does a miner need the Hive OS operating system? The market is recovering: the capitalization of digital currencies exceeded $300 billion http://thecoinshark.net/feed/the-market-is-recovering-the-capitalization-of-digital-currencies-exceeded-300-billion http://thecoinshark.net/the-market-is-recovering-the-capitalization-of-digital-currencies-exceeded-300-billion Mon, 27 Jul 2020 14:36:16 +0000 The total crypto market capitalization exceeded $300 billion last night. For the first time in five months As a matter of fact, similar figures appeared at the end of this winter, more precisely, in mid-February. Rising cryptocurrency rates  All quotes are growing, the bitcoin rate has exceeded the psychological mark of 10 thousand US dollars, and ethereum - $325.     BTC dominance index Important to note that the level of dominance of bitcoin began to fall. Now it has fallen below 60%. To date, the total crypto market capitalization is $305 billion. Coinbase CEO explains why there is still no Monero on the exchange http://thecoinshark.net/feed/coinbase-ceo-explains-why-there-is-still-no-monero-on-the-exchange http://thecoinshark.net/coinbase-ceo-explains-why-there-is-still-no-monero-on-the-exchange Mon, 27 Jul 2020 12:26:00 +0000 Brian Armstrong, CEO of Coinbase, the largest crypto marketplace in the United States, expressed sympathy for the Monero coin, but explained why it would most likely not be listed with his company. Why won't Monero be on Coinbase? The head of the crypto exchange said that he personally would very much like to see Monero on the list of coins on Coinbase, but due to the increased regulatory risks, this is not likely to happen. Unspoken prohibition Armstrong said that although the authorities don't directly prohibit listing Monero, they truly don't like increased privacy. To come to this conclusion, Brian Armstrong carried out an internal risk assessment and personally met with regulators. “There were backstage discussions where they said, "We don't think you need to do this at all." We tried to clarify: "Are you saying that you don't like this or that you will sue us for this?"  - the CEO of Coinbase explained. Sometimes it's better to give in Coinbase CEO said that legal disputes with regulators are part of his job and the company is ready for them. But there are disputes that better to avoid. Bitcoin rate crossed $10K again http://thecoinshark.net/feed/bitcoin-rate-crossed-10k-again http://thecoinshark.net/bitcoin-rate-crossed-10k-again Mon, 27 Jul 2020 08:59:00 +0000 Yesterday, July 26, the rate of the first cryptocurrency crossed the psychological mark of 10 thousand US dollars. Sharp pump On Sunday, there was a sharp boost in the cryptocurrency market, as a result, Bitcoin rose to $10,200 and Ethereum to $325. Daily and weekly growth Important to note is that the last time such a rate was fixed on the first day of summer. As a matter of fact, in 24 hours the growth of BTC was 3.9%, and in a week - 7.5%. Ethereum Following BTC, the rest of the market began to grow. For example, ETH added 33% to its capitalization during the week.   Mikri Zhang Accuses Jihan Wu Of A Very Serious Crime http://thecoinshark.net/feed/mikri-zhang-accuses-jihan-wu-of-a-very-serious-crime http://thecoinshark.net/mikri-zhang-accuses-jihan-wu-of-a-very-serious-crime Sun, 26 Jul 2020 13:41:31 +0000 Mikri Zhang, the co-founder of Bitmain, China's largest mining equipment manufacturer, accused his former business partner of stealing 10,000 ASICs. Where is this coming from? The information appeared on the official Bitmain channel in the WeChat messenger. As a matter of fact, this channel is fully controlled by Mikri Zhang. What happened? From the information provided by WeChat, on the night of July 15-16 of this year, about 10 thousand devices were removed from one of the company's enterprises located in Mongolia in an unknown direction. Where are the miners? Mikri Zhang accuses Jihan Wu of this crime, he claims that the latter caused significant damage to the company. Today the location of a large batch of mining equipment is still unknown. Law enforcement agencies started an investigation. American Faces 30 Years In Jail For Laundering $25 Million http://thecoinshark.net/feed/american-faces-30-years-in-jail-for-laundering-25-million http://thecoinshark.net/american-faces-30-years-in-jail-for-laundering-25-million Sun, 26 Jul 2020 09:57:00 +0000 A US citizen Qais Mohammed, known in narrow circles under the nickname Superman29, has pleaded guilty to money laundering in the amount of about $25 million. Herocoin He said that from the end of 2014 to the end of 2019, he ran the company Herocoin, engaged in the exchange of cryptocurrencies without a license. How did it work? He exchanged bitcoins for cash and charged a huge fee of up to 25%. He understood perfectly well that these funds were obtained illegally, still, continued to engage in this activity. Failure to comply with FinCEN requirements Recall, two years ago the state regulator FinCEN strongly recommended the suspect to officially register the company. But even after that, Muhammad did not give the regulator data on suspicious clients. Thus 36-year-old suspect faces a 30-year jail sentence. Bitcoin Is Legally Recognized As Money In The USA http://thecoinshark.net/feed/bitcoin-is-legally-recognized-as-money-in-the-usa http://thecoinshark.net/bitcoin-is-legally-recognized-as-money-in-the-usa Sun, 26 Jul 2020 09:18:00 +0000 A court in the District of Columbia recognized the first cryptocurrency as money, which is therefore subject to money laundering legislation. What is the case? This interpretation of Bitcoin provides a legal basis for the court not to release the ex-head of Coin Ninja Larry Dean Harmon, who is accused of several financial crimes at once. Articles of charge Illegal activities focused on the transfer of funds; laundering more than $300 million; organization and management of a money transfer business without an appropriate license. Judge's statement The judge said: "Money usually means a mean of exchange, method of payment or store of value, and bitcoin fits these descriptions." Equipment For Mining Began To Be Actively Imported To Abkhazia http://thecoinshark.net/feed/equipment-for-mining-began-to-be-actively-imported-to-abkhazia http://thecoinshark.net/equipment-for-mining-began-to-be-actively-imported-to-abkhazia Sat, 25 Jul 2020 15:09:00 +0000 In the first half of this year, network equipment worth 84 million rubles was imported to the territory of a partially recognized Republic of Abkhazia. Data for the first six months of 2020 According to the border service, 10 bulks totaling 42 million rubles were imported as temporary imports, and another 73 bulks for the same amount were imported. Data for 2019 Important to note is that for the entire 2019, only 23 bulks of network equipment were imported into the territory of Abkhazia, which was estimated at 37.4 million rubles. Legislative absurdity As a matter of fact, the mining of digital currencies has been prohibited in Abkhazia since December 2018, but the import of mining equipment is not prohibited by law. That is, you can enter, but not use it. Coinbase Has Increased Its User Base By 5 Million In Six Months http://thecoinshark.net/feed/coinbase-has-increased-its-user-base-by-5-million-in-six-months http://thecoinshark.net/coinbase-has-increased-its-user-base-by-5-million-in-six-months Sat, 25 Jul 2020 13:40:00 +0000 The user base of the largest US crypto marketplace Coinbase has surpassed 35 million. Where is this coming from? The information appeared on the official page of Coinbase on Twitter. This data was obtained by the site staff during the preparation of the semi-annual report for institutional investors. https://twitter.com/coinbase/status/1286713257433214976 Data for six months As a matter of fact, the site had only 30 million users seven months ago. That is, the company managed to increase the number of clients by 5 million people in six months. 2020 is an important year Representatives of the company said that it was in 2020 that institutionalists became massively interested in the site. “We saw notable growth in our institutional business in the first half of the year and continued to add top university funds, traditional hedge funds, venture capital firms, and large family offices to our list of direct digital asset buyers.” Coinbase intends to further expand its range of services for institutional investors. For example, trading through several pools of liquidity will soon be available on the site.   Celsius Network raised $18.8 million http://thecoinshark.net/feed/celsius-network-raised-188-million http://thecoinshark.net/celsius-network-raised-188-million Sat, 25 Jul 2020 12:58:43 +0000 Representatives of the Celsius Network startup, engaged into the provision of loans in cryptocurrency, said that another round of funding would close on Monday. Funding Round Results They managed to raise USD 18.8 million. Only qualified investors could buy shares. As a matter of fact, the Celsius Network has set a small minimum entry threshold - only $1000. Expectation vs reality The shares were listed on the BnkToTheFuture platform. Important to note is that the fundraising plan was overdone by almost $2 million. A bit of history The Celsius Network's official press release states, they've already raised $10 million from a Tether issue in the past. At that time, the company was valued at $120 million. Monitoring of cryptocurrencies to start in Ukraine soon http://thecoinshark.net/feed/monitoring-of-cryptocurrencies-to-start-in-ukraine-soon http://thecoinshark.net/monitoring-of-cryptocurrencies-to-start-in-ukraine-soon Fri, 24 Jul 2020 16:05:00 +0000 As a matter of fact, the Ministry of Digital Transformation of Ukraine, headed by Mikhail Fedorov, has entered into a partnership with a large analytical service Crystal Blockchain. Ministry staff training The official statement published on the website of the Ministry of Digital Transformation of Ukraine, states, it appears that this agreement implies the training the ministry employees to  monitor crypto transactions. Statement of the "Ministry of Digital Science" “As part of the memorandum, members of the Crystal Blockchain team will carry out a series of training on combating money laundering in cryptocurrency for ministry employees.  We hope that such cooperation will allow us to quickly form a legal market for virtual assets in Ukraine,” Kirill Chikhradze, Product Director for Crystal Blockchain said. Perspectives This memorandum will help employees of the Ministry of Finance to independently monitor and verify suspicious transactions with digital assets in the future. Warning! The new botnet Prometei has already hit 5,000 computers http://thecoinshark.net/feed/warning-the-new-botnet-prometei-has-already-hit-5-000-computers http://thecoinshark.net/warning-the-new-botnet-prometei-has-already-hit-5-000-computers Fri, 24 Jul 2020 11:22:00 +0000 Employees of the corporation Cisco Talos warned of the danger of a new botnet called Prometei. More about the virus It can use computer resources and mine the anonymous cryptocurrency Monero. Prometei malware can disable security controls, enter the system, and change its settings. The scale of the attack Cisco Talos workers found out that Prometei is able to steal administrator passwords. This virus has been walking around the Internet for five months. During this time, it affected about 5,000 computers around the world. Who's behind this? Analysts believe the virus was created by a highly skilled developer from Eastern Europe, but he is currently unknown. Tether Is Becoming Increasingly Popular: $10 Billion Line Crossed http://thecoinshark.net/feed/tether-is-becoming-increasingly-popular-10-billion-line-crossed http://thecoinshark.net/tether-is-becoming-increasingly-popular-10-billion-line-crossed Fri, 24 Jul 2020 09:06:00 +0000 The total capitalization of the most popular stable coin Tether (USDT) has finally broken the $10 billion line. Increased demand Just recently, thank to demand, they released an additional 120 million coins, each pegged to $1. Total number of tokens To date, the total market capitalization of USDT is $10.07 billion. More than 60% of the total supply of tokens is in the Ethereum registry. The final breaking of the $10 billion line Recall, at the beginning of this month, the Messari platform already reported breaking the $10 billion mark, but other services did not confirm this. According to Coingecko, this psychological bar was only crossed on July 22 Multi-currency Crypto Wallet: Freewallet Review http://thecoinshark.net/feed/multi-currency-crypto-wallet-freewallet-review http://thecoinshark.net/multi-currency-crypto-wallet-freewallet-review Fri, 24 Jul 2020 06:10:00 +0000 Choosing the right crypto wallet can be a challenging task. With many options out there, it’s difficult to make a decision before trying the wallet service for yourself. However, some qualities can make good indicators that a wallet is a good fit for your needs. Important factors include available currencies, security measures and customer support to provide assistance if any questions arise. Service overview Freewallet is one of the most prominent crypto wallet options out there with over 3M users around the globe. Their mobile multi-coin wallet application has been available for both iOS and Android since 2016. Freewallet has made over a 100 assets available for its users on mobile and web applications including major coins such as BTC, ETH, LTC, USDT, and XRP. In addition, it also offers 33 single-currency applications. Registration It is fairly easy to sign up for Freewallet and the process only takes several steps. Users can register with an email address, Gmail or Facebook account, or just a phone number. Afterwards, users are asked to choose a strong password and 4-digit PIN. It’s important to memorize the PIN as it will be requested as an additional security step for important actions on the account. Services Freewallet provides a variety of crypto services for its users. Some currencies can be purchased with a bank card which is great for beginners entering the crypto space. Currently, coins available for purchase with this method are BCH, BNB, BTC, DASH, ETH, EOS, LTC, TRX, XLM and XRP. Sending and receiving peer-to-peer transactions with Frewallet can be done in a couple of clicks. Users are able to choose their fee structure from four of the available BTC fees. Within the Freewallet ecosystem, all transactions are made feeless. Another important feature that Freewallet offers is a built-in exchange. Not every crypto wallet can support this many assets within one application. Currently, Freewallet users can convert more than 100 assets. In addition, 54 of those coins and ERC20 tokens are supported by new exchange technology that allows them to be transferred within a couple of minutes. This type of exchange is also characterized by better rates and enhanced anonymity. Security To ensure users have enough information regarding the security of their wallet, Freewallet rates account security from “weak” to “strong.” In addition to a strong password and 4-digit PIN, users are encouraged to enable 2-factor authentication on logins and when initiating a transaction. In this case, a one-time password will need to be received and confirmed via mobile application like Google Authenticator. Users can also enable multisig email protection. More than one email address will be used to confirm transactions, providing users with an extra layer of protection. Available security measures can also include Touch ID, withdrawal limitation and active session control. Additional Information Besides the features listed above, Freewallet also offers some add-on features. One of them is convenient top-ups for your mobile phone with BTC. BTC coins can also be exported and imported to and from another wallet or another Freewallet account. With all of these options, some users may need a little guidance. For this reason, Freewallet has 24/7 customer support. If any questions or issues arise, responses can be received in as quick as a few minutes. The Freewallet team is also active on social media, interacting with their community, conducting various activities and even rewarding their most active users. Overall, Freewallet is definitely one of the best options amongst crypto wallets. The built-in exchange, high security standards and customer care together make it a convenient tool for any crypto enthusiast, whether they’re experienced or just a beginner. Three Latvians Are Accused Of Personal Data Theft: Suspects In Jail http://thecoinshark.net/feed/three-latvians-are-accused-of-personal-data-theft-suspects-in-jail http://thecoinshark.net/three-latvians-are-accused-of-personal-data-theft-suspects-in-jail Thu, 23 Jul 2020 15:54:00 +0000 Latvian law enforcement agencies have arrested three suspects in the case of buying confidential user data on the darknet. Criminal scheme From the information provided by the local police, the suspects gained access to user accounts on various crypto-exchanges and withdrew all funds from there. During the arrest, digital assets totaling 110 thousand euros were seized. Money laundering The cybercriminals laundered the stolen funds through the acquisition of real estate, cryptocurrencies, gold, and luxury goods. The scale of the crime The criminals have worked for five years, more than 1,000 people have become their victims. If their guilt is proven, they face imprisonment for between 3 and 12 years. The full review of the Hive OS operating system for mining http://thecoinshark.net/feed/the-full-review-of-the-hive-os-operating-system-for-mining http://thecoinshark.net/the-full-review-of-the-hive-os-operating-system-for-mining Thu, 23 Jul 2020 15:11:00 +0000 Looking for an effective solution for managing the mining processes and monitoring your ASICs and GPU rigs? Then check Hive OS to you. It’s the most efficient and convenient operating system that will meet all your needs. Take a closer look: You can control everything from a single dashboard Everything can be tracked at one place: hashrate, energy consumption, the activity of your team, etc. Hive OS can be used even with very large farms  Do you have thousands of workers to manage? For Hive OS that’s not a problem — it allows managing up to 200,000 devices at the same time. It is also possible to apply changes to all of them at once. You can set up multi-user access If you have a team working with your farm, you can set up different access rights for them. For instance, you can provide your admin with full access to the farm, while the technicians — only with the monitor level of access. In this way, you will protect your income. The autotagging feature You can provide Hive OS with the specific criteria, and the system will break your workers into groups. This is done automatically and ensures easier management. Hive OS helps to prevent the infection of the entire farm If one device gets infected with a virus, it can quickly infect the entire farm. The result is the downtime and, therefore, loss of profits. Hive OS helps to avoid such a situation. The system constantly monitors the condition of your devices, and immediately informs you in case one of them is in danger. In this way, you can protect your farm from the virus and avoid all the unpleasant consequences. Hive OS ensures automatic fan control This feature is called autofan, and it helps to protect your ASICs and GPU rigs from overheating — it keeps the devices close to the target temperature. Apart from this, you can monitor the temperature of all your workers at once, even in case you have a large number of devices. In Hive OS, you have a heatmap, and if one of the workers gets overheated, it becomes red.  A temperature watchdog If one of your devices somehow reaches the critical temperature, a special watchdog automatically reboots the worker or stops the mining process. In this way, it is possible to prevent the damage of the equipment. GPU overclocking Using Hive OS, you can make your GPU rigs reach the most optimal performance, so that they will bring your higher profits. Hive OS statistics The Hive OS operating system provides you with the statistics on the performance of your devices on different algorithms, temperatures, miners, and so on. Therefore, in case something goes wrong, you can quickly figure out what happened and why. The data is collected for the period of 1 year. Referral rewards system With Hive OS you can earn even if you do not mine — this is possible thanks to the referral rewards system.    If you attract new users, they become your referrals. Then, in case your referral makes a deposit and adds miners, you receive 10% of their daily payment for Hive OS. Notifications delivered to Telegram or Discord You are always aware of what’s going on with your workers — the notifications inform you about increased fan speed, overheating, changes in statuses, etc. They can be delivered to Telegram or Discord (or to both of these messengers). A mobile app With the Hive OS app, you can easily monitor the condition of your devices from anywhere in the world.  24/7 support  The multilingual support team of Hive OS is always ready to help you. Apart from this, you can check guides, step-by-step tutorials, and various mining life hacks on their Medium blog and knowledge base. You can also get help from the community on Telegram. Hiveon ASIC users get Hive OS for free Hiveon ASIC is a custom firmware for ASICs with numerous useful features: overclocking, downvolting, antivirus, protection from short circuits caused by manufacturing defects, and so on. If you use it, Hive OS is free for you. Hiveon Pool  Hiveon Pool is a pool from Hive OS with the PPS+ payout model. All the transactions are covered. The servers of the pool are located around the world: in North America, Europe, Asia and Russia. As you can see, Hive OS has a lot of useful features, and its team adds the new ones on a regular basis. This operating system is a great solution for managing and monitoring a mining farm. Start mining with Hive OS for free for 1 rig. Hashrate, power consumption, temperature: how to track your statistics on GPU rigs and ASICs effectively Mining: how to spend less and earn more How to choose the right ASIC in 2020 Top 6 problems of miners and their solutions 5 life hacks for owners of large ASIC farms Why does a miner need the Hive OS operating system? Visa Will Support Cryptocurrencies http://thecoinshark.net/feed/visa-will-support-cryptocurrencies http://thecoinshark.net/visa-will-support-cryptocurrencies Thu, 23 Jul 2020 11:59:00 +0000 Payment giant Visa has expressed support for cryptocurrencies and said they can be valuable for the development of digital payments. Visa support Visa noted the role of bitcoin in this direction, and also stated that they were ready to support the development of the cryptocurrency industry. «The concept of digital currency — or a digital version of cash controlled by a private key — was created more than a decade ago, with the launch of Bitcoin. Today, fiat-backed digital currencies, commonly referred to as stablecoins» – wrote on the Visa’s blog.   The value of stablecoins Visa noted that stable cryptocurrencies are popular not only in the field of fintech, but they are also actively used in various financial institutions, including central banks of states. Visa partnerships Visa representatives added they are already actively collaborating with some of the major crypto platforms, such as Coinbase and Fold. To date, Visa has already entered into an agreement with 25 crypto wallet providers. «We know that policy leaders and regulators continue to have questions and concerns about digital currencies on a range of issues, from consumer protection to payments resilience. We believe the best way to address these concerns is by working closely with leading companies and the public sector» – said in Visa. The Famous Mekotio Virus Now Steals Cryptocurrencies http://thecoinshark.net/feed/the-famous-mekotio-virus-now-steals-cryptocurrencies http://thecoinshark.net/the-famous-mekotio-virus-now-steals-cryptocurrencies Thu, 23 Jul 2020 09:13:00 +0000 Employees of ESET corporation believe that a sharp outbreak of the Mekotio virus, which steals digital coins, will soon occur. About the virus This Trojan has attacked bank accounts in the past. The principle of the virus is extremely simple: when it gets on the victim's device, it starts tracking browser activity. When trying to log in to any Internet banking, the malware substitutes a fake authorization window and sends the victim's confidential data to a remote server. How does it steal cryptocurrencies? Hackers have improved this Trojan and now it can replace crypto wallet addresses. That is, when the user wants to make a transfer and copies the desired address to the clipboard, the virus replaces it with the wallet number belonging to the hacker. How to protect yourself? The virus spreads through email newsletters, so experts advise not to click on suspicious links or download files from unknown sources. BitMEX has become a business angel for the VALR crypto exchange http://thecoinshark.net/feed/bitmex-has-become-a-business-angel-for-the-valr-crypto-exchange http://thecoinshark.net/bitmex-has-become-a-business-angel-for-the-valr-crypto-exchange Wed, 22 Jul 2020 16:15:00 +0000 The start-up crypto-exchange VALR, operating under the jurisdiction of the Republic of South Africa, managed to raise $3.4 million. The main investor was a subsidiary of the major operator BitMEX. Where is this coming from? The information appeared on the official page of the VALR crypto exchange on Twitter. https://twitter.com/VALRdotcom/status/1285453726078164994 Who invested? In addition to BitMEX, the ex-CEO of a fairly large crypto-platform in South Africa First National Bank, Michael Jordan, as well as Bittrex company took part in financing. VALR plans and achievements The funds raised will be used to increase the number of employees and expand the geography of the company's influence. VALR representatives say, to date, their user base includes 40 thousand clients. MonolithosDAO: a platform for decentralized finance with a built-in stablecoin http://thecoinshark.net/feed/monolithosdao-a-platform-for-decentralized-finance-with-a-built-in-stablecoin http://thecoinshark.net/monolithosdao-a-platform-for-decentralized-finance-with-a-built-in-stablecoin Wed, 22 Jul 2020 14:29:57 +0000 Stablecoins and DeFi projects have become symbols of the year 2020, which once again gave hope for the resumption of growth of the cryptocurrency market. The fall in oil prices, the COVID-19 pandemic, and the us-China standoff have all increased investors ' concerns about overly active actions to stimulate the economy by global regulators and Central banks, who are ready to fill the fire of the coming crisis with quantitative easing programs. In the last financial crisis of 2008-2009, this led to the birth of bitcoin. The current crisis can bring decentralized financial services and assets to a new level, where they will occupy a more significant niche. The demand for decentralized financial services and stablecoins, which differ from true cryptocurrencies in less volatility, is confirmed by statistics. The adjusted volume of transactions using stablecoins in June reached a new historical record, falling slightly short of $50 billion. According to the analytical service Messari, the market capitalization of the dollar-linked stablecoin Tether (USDT) reached $10.3 billion, although a year ago it did not exceed $3 billion. The demand for stablecoins is explained by the simplicity and ease with which transactions are conducted in these digital coins, and the lack of high volatility inherent in other cryptocurrencies. Decentralized Finance is developing at an even faster pace. By rating debank.com, DeFi has already blocked assets of more than $2 billion. Most DeFi projects offer users the opportunity to earn passive income using various credit products, that is, they enter into direct competition with banking services that are less and less in line with the expectations and requests of customers. Decentralized stablecoin The synthesis of these two directions - stable coins and decentralized Finance - can have a synergistic effect on the cryptocurrency market. So far, there are not many examples of such a synthesis of the two spheres of the crypto market. One of them is MonolithosDAO. This is a hybrid platform that combines the advantages of stablecoins and offers to use built-in DeFi services. Unit network MonolithosDAO is scriptural MCR, digital coin, the rate is softly pegged to the Russian ruble at a ratio of 1:1. But unlike his piatogo prototype MCR are not subject to centralized management and controllers do not handle any power structure. The uniqueness of the cryptorubble from Monolithos is that it is the first digital coin linked to Fiat, which fully meets the criteria of the DAO community. Unlike the same Tether, the Issuer of one of the most popular and controversial stablecoins in the world, the MCR cryptorub is managed through a decentralized Autonomous organization, whose decisions are made collectively, taking into account the opinions of all network participants who have the right to vote. MCR is resistant to inflation, since it has virtually no volatility as a stable coin, which makes it ideal for daily calculations and business operations as a measure of value and a means of deferred payment. MonolithosDAO is based on the MakerDAO Protocol and runs on the Ethereum blockchain. This is a full-fledged DAO project-coordinated, scalable, and open source. The DAO is managed using two mechanisms — self-executing smart contracts and voting. Mechanism for issuing DeFi-stablecoin The integration of the architecture of decentralized Autonomous organizations into the DeFi project led to the birth of a completely new mechanism for issuing stablecoins. If in centralized digital projects, stablecoins are issued by a certain issuing organization, a company responsible for the Fiat provision of issued coins, then this principle of operation is not applicable for the DAO community, since it does not meet the philosophy of a decentralized project-collegiality. The developers of MonolithosDAO have found an elegant solution to this problem - the generation of MCR stablecoins is performed on the software that the user himself places on the platform. The Land platform was created for this purpose. Land is a DeFi platform that exists in the MonolithosDAO ecosystem, created for trading, lending, depositing, and generating MCR. The user selects the type of collateral (for example, a pledge in the form of Ethereum tokens). The collateral is blocked, and MCR stablecoins are generated on this security. The security coefficient, i.e. the value of blocked ETH tokens to the value of issued cryptorubbles, must not be less than 125%. Any digital coin based on Ethereum can become a collateral asset on the Land platform.participants of a decentralized organization with voting rights (i.e. holders of MDT tokens) have voted to accept It as collateral on the MonolithosDAO platform. MCR holders can earn on their savings automatically. To do this, they need to place their own stablecoins on the DSR smart contract. The savings interest rate that is charged to the user is a variable parameter that can be changed by the decision of MonolithosDAO members with voting rights. This mechanism allows you to keep the MCR at the target price and prevent radical deviations from the ruble exchange rate. A security Deposit that has been blocked can be refunded at any time. To recover the Deposit, in part or in full, the storage owner must pay part or all of the mCRs generated by them, as well as pay a stability fee that is constantly charged on outstanding mCRs (about 4%). The most important thing is that Land is not a centralized platform where users are asked to entrust their digital assets for storage. Land is a decentralized platform that is accessible via the wallet that are supported by Ethereum. Users - and only they - have access to their assets. Land is built on the basis of verified and formally verified smart contracts created by Maker, the industry leader in secure decentralized Finance. Managing MonolithosDAO As a decentralized Autonomous organization, MonolithosDAO is managed by its voting members. This right is available to those investors who are holders of MDT tokens. At the same time, all participants, not only holders of MDT tokens, can make proposals regarding voting. But only those who own MDT will be able to vote for acceptance. They decide which coins to accept as collateral, what are the risk parameters for certain collateral assets (what determines the collateral ratio to the generated stablecoins), how to change the savings interest rate on DSR contracts, what updates to launch, and many other issues related to the operation of the DAO. Voting is also used to make decisions on non-technical aspects of the Protocol, such as asset priority lists, management processes, role mandates, and even electing individuals to perform specific duties. The system is designed in such a way that each of these actions brings direct or indirect profit to the community members, so MDT holders are interested in reasonable network management. When voting, the number of votes is proportional to the number of MDTs that the voting participant sends to the address of the specific voting contract. The more MDT tokens a voter secures in the contract, the more influence they have on the decision-making process. In total, there are 1 million MDT tokens in the MonolithosDAO system. 80% (800,000 MDT) of them will be distributed among community members during a two-stage tokesale. On June 20, the first closed stage of the tokensale started, which will last until August 10. During the private round, 300,000 MDT will be sold at a price starting from $0.4. The second stage of the tokensale, which is scheduled for August 3, 2020, will begin with the listing of coins on Uniswap. In total, it is planned to sell 800,000 MDT, which is 80% of the total issue of stablecoins. At this time, the MonolithosDAO team will contribute 500,000 MDT and about $210,000 in ETH cryptocurrency to the created pool on the Uniswap platform.   Thus, at the heart of the MonolithosDAO economy is a transparent and thoughtful management system that maintains the stability of the MCR coin through certain incentives that encourage participants to make decisions that are beneficial to the entire system. And stablecoin MCR is suitable for hedging risks as a means of accumulating value and can be used as a means of circulation for decentralized applications. Follow us on Twitter and join the telegram channel chat to stay up to date with the latest updates.. The documentation, white paper, and code base of Monolithos are publicly available on Github. You can also find more information about the project on the monolith.money website.   Huobi Global Launches the New FastTrack (Phase 11) on July 28 http://thecoinshark.net/feed/huobi-global-launches-the-new-fasttrack-phase-11-on-july-28 http://thecoinshark.net/huobi-global-launches-the-new-fasttrack-phase-11-on-july-28 Wed, 22 Jul 2020 11:41:40 +0000 Dear users, Huobi FastTrack will soon make a comeback with upgraded event rules! Under this upgraded FastTrack (Phase 11) rules, there will be two (2) voting event stages: •  “Deposit to Vote”, and •  “Use HT to Vote”. Users who participate in the “Deposit to Vote” event can enjoy airdrop rewards from the respective projects. On the other hand, participant users in the “Use HT to Vote” event can purchase the project’s token at half price. Find out more: https://support.huobiservice.com/hc/en-us/articles/900001847286  For any questions, feel free to reach out to your account manager Opinion: Trump's desire to save the stock market will lead to a pump of cryptocurrencies http://thecoinshark.net/feed/opinion-trumps-desire-to-save-the-stock-market-will-lead-to-a-pump-of-cryptocurrencies http://thecoinshark.net/opinion-trumps-desire-to-save-the-stock-market-will-lead-to-a-pump-of-cryptocurrencies Wed, 22 Jul 2020 11:28:00 +0000 The upcoming presidential elections in the United States and the eagerness of the current president to go to the second cadence may cause the Bitcoin rate boost. Where does the information come from? This opinion was expressed by the famous crypto analyst from Capriole Investments, Charles EdwUSAards. He published it on Twitter. https://twitter.com/caprioleio/status/1285461472622129155 How does Trump affect the cryptocurrency market? He believes that Trump will do his best to restore the fall of the US stock market and strengthen the policy of quantitative easing (by printing more fiat money), which will eventually lead to the depreciation of the US dollar. Charles Edwards statement 1. Trump wants to win the election 2. The stock market is his measure of success 3. He believes he can influence market price through policy and UBI 4. Money supply will continue to grow How can you be bearish Bitcoin? - Edwards wrote.   The Finish Line: The Draft Law http://thecoinshark.net/feed/the-finish-line-the-draft-law-on-digital-financial-assets-adopted-in-the-second-reading http://thecoinshark.net/the-finish-line-the-draft-law-on-digital-financial-assets-adopted-in-the-second-reading Wed, 22 Jul 2020 08:34:00 +0000 Deputies of the State Duma of the Russian Federation voted for the draft law "On digital financial assets" in the second reading. Purchase of digital rights The deputies mean business, as the third reading is already scheduled for today, July 22. From the document, digital assets are digital rights, the owners of which can be acquired in specialized and accredited credit institutions, as well as exclusively within the framework of the legislation of the Russian Federation. Registration of Russian and purchase of foreign digital assets Russian citizens will have the opportunity to buy digital assets issued outside the Russian Federation, on foreign services. The issue and circulation of digital assets on the territory of the Russian Federation will be regulated by the relevant legislation. To have a crypto business in Russia, you will need to include your digital assets in the appropriate register of the Central Bank of the Russian Federation. Turnover in the Russian Federation The law "On CFA" describes in detail the process of ownership and exchange of cryptocurrencies. According to this document, legal entities and individuals (residents of the Russian Federation) don`t have the right to accept crypto-assets "as a counter-provision for transferred goods, services rendered, or any other method that allows them to assume payment in digital currency for goods or services." Once the deputies pass the draft law, it will come into force on the first day of the next year Kazakhstan Aimed To Defeat Corruption Using National Cryptocurrency http://thecoinshark.net/feed/kazakhstan-aimed-to-defeat-corruption-using-national-cryptocurrency http://thecoinshark.net/kazakhstan-aimed-to-defeat-corruption-using-national-cryptocurrency Tue, 21 Jul 2020 20:25:00 +0000 The Kazakh authorities are planning to release their own national cryptocurrency. With its help, the country wants to fight corruption. Statement by top official Alik Shpekbayev “First, it will speed up the decline in cash so bribe-friendly. Secondly, it will ensure full transparency of the movement of budgetary funds in public procurement,” Shpekbayev said. The authorities of Kazakhstan vs cryptocurrencies Recall in early summer, the President of the country approved a new regulation of the cryptocurrency industry in Kazakhstan. The Safest Crypto Vault: Standard Chartered Announces New Service For Institutional Investors http://thecoinshark.net/feed/the-safest-crypto-vault-standard-chartered-announces-new-service-for-institutional-investors http://thecoinshark.net/the-safest-crypto-vault-standard-chartered-announces-new-service-for-institutional-investors Tue, 21 Jul 2020 12:06:00 +0000 Representatives of a large UK banking company Standard Chartered have announced their intention to launch a new digital currency storage solution that will be used by institutional investors. Beta testing in 2020 So far we know that pilot testing may begin before the end of this year and this solution will be launched by SC Ventures, which is based in Singapore.  Important to note that the management of the future storage service will be carried out directly from England. Focus on safety The company claims that its solution will be the most secure and reliable in the industry and it will be available for investors around the world. Interest in Standard Chartered service Besides, the CEO of Standard Chartered said that their yet to be released product is already popular among institutional investors. The company will provide storage services not only for bitcoin but also for security tokens. Why does a miner need the Hive OS operating system? http://thecoinshark.net/feed/why-does-a-miner-need-the-hive-os-operating-system http://thecoinshark.net/why-does-a-miner-need-the-hive-os-operating-system Tue, 21 Jul 2020 11:12:00 +0000 Why does a miner need an operating system? Everything is simple — it greatly simplifies the mining process itself and the management of ASICs and GPU rigs (which is especially important if you have a large farm), helps to increase the efficiency of devices and solves many different problems like accidental hardware reboots. Sounds interesting? Sure. Considering your mining needs, the Hive OS operating system was created. Take a look at its main characteristics:  With Hive OS you can monitor the hashrate, temperature of your devices, power consumption, statuses of each device, and so on. You can also apply various functions in bulk, and send commands to thousands of devices at once. Hive OS allows you to create a schedule to automatically execute commands, change wallets or pools, and so on. Hive OS can be launched with a few clicks. Devices can be sorted, grouped and filtered. And now take a look at the most useful features of Hive OS in a little more detail. Overclocking of devices In simple words, overclocking is "pushing" the hardware out of the factory settings for better productivity and increased revenue. Overclocking can also be used to reduce power consumption. Using Hive OS, you can create overclocking profiles and, in this way, improve your devices. RX Boost With the help of the RX Boost function, you can achieve maximum speed when mining with memory intensive algorithms on AMD RX 400/500 video cards (the Polaris family). Integration of miners Hive OS supports the most popular miners, but if the option you want is still not on the list, you can integrate it yourself. Hashrate watchdog Hive OS will independently track the performance of your ASICs or GPU rigs — you won’t have to spend your time on this. If the efficiency of one of the devices drops, the watchdog is triggered. The device restarts and returns to the desired performance level. Temperature control With Hive OS you can easily control the temperature of your devices. First of all, even if you have hundreds of devices, you can easily monitor all of them at the same time — this is possible thanks to the heatmap. If one of the workers gets close to the critical temperature, you will immediately notice this. Secondly, in Hive OS, apart from the hashrate watchdog, there is also a temperature watchdog. If the hardware reaches a critical temperature, this watchdog reboots the system or stops the mining process. Thirdly, to prevent critical temperatures, Hive OS ensures automatic fan control so that your workers' temperatures are always kept at the right level. Process automation With the Scheduler function you can create various events (for example, command execution, application of an overclocking profile, and so on). Then, by selecting an event and setting up the time and frequency of repetition, you can automate some of the mining processes. Statistics With the help of the Hive OS statistics you can easily monitor your hardware and track the performance of your devices at different algorithms, temperatures, and so on. In addition, Hive OS will provide you with statistics on electricity consumption both for the entire farm and for each individual device. Notifications in Telegram and Discord With Hive OS you'll always know what's going on with your devices — this is possible thanks to the notifications that you can receive both in Telegram and Discord. What events can you receive notifications about? Critical errors, poor performance, and so on — you will be aware of all important events. But, of course, these are not all the useful functions of Hive OS — in this article were described the most important and popular ones. You can find out more here. Start mining with Hive OS for free for 1 rig. Hashrate, power consumption, temperature: how to track your statistics on GPU rigs and ASICs effectively Mining: how to spend less and earn more How to choose the right ASIC in 2020 Top 6 problems of miners and their solutions 5 life hacks for owners of large ASIC farms The full review of the Hive OS operating system for mining Bitcoins From Space: Historical BTC Transaction http://thecoinshark.net/feed/bitcoins-from-space-historical-btc-transaction http://thecoinshark.net/bitcoins-from-space-historical-btc-transaction Tue, 21 Jul 2020 08:48:00 +0000 An astronaut from Canada Chris Hadfield became the world's first owner of BTC through a satellite orbiting our planet. What happened? This transaction was carried out during the Asia Blockchain Summit 2020. CEO Pixelmatic Samson Moe sent $100 in bitcoins to the astronaut via the satellite, located at a distance of 35 thousand km from the Earth's surface. Where is this coming from Such information appeared on the official page of Pixelmatic on Twitter. https://twitter.com/Pixelmatic/status/1285108591972638720 Crypto transaction in space The Blockstream Satellite service was behind the technical side of the issue. This time, the platform was configured in such a way that the transaction was carried out outside the planet, more precisely, from the transmitting communication center to the three satellites of the company, which are in the geosynchronous orbit of the planet. Once the crypto assets were credited to the astronaut's wallet, he could not keep his emotions, he called it real magic and said that blockchain technology has huge prospects in this industry.   Now Binance Users From Ukraine Can Deposit/Withdraw UAH Directly http://thecoinshark.net/feed/now-binance-users-from-ukraine-can-deposit-withdraw-uah-directly http://thecoinshark.net/now-binance-users-from-ukraine-can-deposit-withdraw-uah-directly Mon, 20 Jul 2020 16:02:00 +0000 Representatives of Binance, the largest crypto-exchanges, announced the new opportunity for Ukraine residents, who will be able to replenish their accounts and draw conclusions straight in hryvnia. Technical details This innovation became available thanks to the inclusion of another fiat gateway SettlePay. This function can be used by Ukrainians who have Visa or Mastercard. Binance Top Manager Commentary The director of Binance in Ukraine Gleb Kostarev believes these transactions will be carried out within a couple of seconds, providing a fee of 1% in any direction Start trading on Binance Mikri Zhang To Turn Bitmain Into A Public Company http://thecoinshark.net/feed/mikri-zhang-to-turn-bitmain-into-a-public-company http://thecoinshark.net/mikri-zhang-to-turn-bitmain-into-a-public-company Mon, 20 Jul 2020 12:35:00 +0000 One of the founders of Bitmain, the largest Chinese manufacturer of networking equipment, Mikri Zhang, said he would bring the company to the stock market within the next year. Letter to Beijing Branch Staff On Friday, July 17, the Beijing branch, managed by Jihan Wu, sent letters to its employees. The text of the letter says that the leadership has lost hope of resolving the conflict with Mikri Zhang. Mikri Zhang's reaction In response, the Bitmain co-founder expressed the hope that the conflict would be resolved by the end of this year. He added that the first court hearing will take place in the Cayman Islands in October this year. After that, he plans to bring the company to the stock market, and its total capitalization will be at least 10 billion US dollars. Bitmain problems Recall that Bitmain is now experiencing financial difficulties and is under pressure from banks and partners. Many experts believe this conflict can lead to a split in the company Telecom S.A Was Hacked: Criminals Demand A Ransom Of $7.5 Million http://thecoinshark.net/feed/telecom-sa-was-hacked-criminals-demand-a-ransom-of-75-million http://thecoinshark.net/telecom-sa-was-hacked-criminals-demand-a-ransom-of-75-million Mon, 20 Jul 2020 09:36:00 +0000 Unknown cybercriminals hacked Telecom S.A, the largest telecommunications company in Argentina. They are asking for a ransom of $7.5 million in private cryptocurrency Monero. Where is this coming from? The information was published on the official page of the famous crypto-trader Alex Krüger. https://twitter.com/krugermacro/status/1284642410258214914 What was compromised? This hack did not affect the company's clients and it will not affect the services in any way. The company lost access to Office365 and OneDrive files, as well as some of its internal documents. Hacker requirements The cybercriminals set a deadline: if the management of Telecom S.A does not pay by tomorrow night (July 21, 2020), then the ransom amount will be doubled. To date, company representatives did not comment on their plan to resolve the incident.   Grayscale Investment Director Expects Bitcoin ETF http://thecoinshark.net/feed/grayscale-investment-director-expects-bitcoin-etf http://thecoinshark.net/grayscale-investment-director-expects-bitcoin-etf Sun, 19 Jul 2020 16:04:45 +0000 Grayscale investment fund director Michael Sonnenshein called the emergence of traded exchange-traded funds on the Bitcoin platform only a matter of time. Is Bitcoin ETF worth waiting for? “We think the launch of a Bitcoin ETF is just a matter of time. Regulators have done an excellent job, they are trying to stay at the forefront of the development of digital assets as a class ", – Michael answered Anthony Pompliano's question. The Grayscale manager believes that even in the current legal environment, there is an opportunity to work with assets, but the regulator is simply in no hurry to authorize the creation of Bitcoin ETFs. Regulators are waiting for the "maturing" of the market However, the attitude of financial regulators to this issue does not stand still. “I think the actions of the regulators show that they want to see the market more mature. Maybe they want to see a more global order book for Bitcoin, maybe they want to create joint oversight agreements, or maybe they are waiting for clearer regulation and oversight of the various platforms and markets where digital assets are traded. ", – stated Michael Sonnenshein. Indian government will define cryptocurrencies as exchange commodities http://thecoinshark.net/feed/indian-government-will-define-cryptocurrencies-as-exchange-commodities http://thecoinshark.net/indian-government-will-define-cryptocurrencies-as-exchange-commodities Sun, 19 Jul 2020 13:08:38 +0000 During a conference with a representative of the Indian cryptocurrency exchange WazirX, the former secretary of the Indian Economic Department, Subhash Chandra Garg, spoke about the need to regulate cryptocurrencies as exchange commodities. Cryptocurrency Ban Law in India Last year, Subhash Chandra Garg was working on a bill to ban the use of cryptocurrencies in the country. Violators faced a prison sentence of up to 10 years and a fine of up to US $ 3.3 million. Local crypto enthusiasts were very worried about the work on this law, so the official decided to talk to the crypto community. As Garg explained, the planned law did not imply a complete ban on the use of cryptocurrencies. Cryptocurrencies are commodities According to the official, cryptocurrencies can be used as exchange commodities, but not as currencies. Consequently, a digital asset in the form of a computer code, in which money is invested, should be regulated on a par with exchange commodities. But all anonymous cryptocurrencies are still planned to be banned. Official acknowledged the benefits of blockchain Subhash Chandra Garg considers cryptocurrencies to be a hopeless technology that has little chance of becoming truly popular among all segments of the population. However, the former secretary noted that blockchain technology itself has great potential for use in the financial industry Elon Musk's tweet increased Dogecoin price by 17% http://thecoinshark.net/feed/elon-musks-tweet-increased-dogecoin-price-by-17 http://thecoinshark.net/elon-musks-tweet-increased-dogecoin-price-by-17 Sun, 19 Jul 2020 10:47:03 +0000 Elon Musk tweeted about the possible prospect of using Dogecoin as an alternative to the global financial system. It’s inevitable pic.twitter.com/eBKnQm6QyF — Elon Musk (@elonmusk) July 18, 2020 The joke led to the growth of cryptocurrency After the publication, the value of DOGE coins increased from 0.003 to 0.0035 USD. A little time later, the rate corrected at 0.0034 USD per 1 DOGE, and the capitalization of the Dogecoin project at the time of writing the news is 430 million US dollars. Musk previously confessed his love for Dogecoin In 2019, Elon Musk already spoke about his sympathy for Dogecoin. On April 1, Musk won a comic vote for the position of head of this project. Ethereum creator Vitalik Buterin and Charlie Lee, the author of the Litecoin project, also took part as candidates. “Dogecoin may be my favorite cryptocurrency. It's pretty cool, ”the entrepreneur wrote on his twitter.   Ripple CEO: China leads the way in cryptocurrency regulation http://thecoinshark.net/feed/ripple-ceo-china-leads-the-way-in-cryptocurrency-regulation http://thecoinshark.net/ripple-ceo-china-leads-the-way-in-cryptocurrency-regulation Sat, 18 Jul 2020 15:25:00 +0000 Brad Garlinghouse, CEO and member of the board of directors of cryptocurrency company Ripple, shared his opinion on the superiority of Chinese policy on regulating cryptocurrencies over the United States. China sees potential in cryptocurrencies During the Chamber of Digital Commerce event yesterday, July 17, Brad spoke about the extremely positive impression of the Chinese government's actions on cryptocurrencies, because China, above all, recognizes the great potential of decentralized finance.   “I think that they understand that some of these technologies will serve as a basis for the future functioning of financial systems, and they want to be the first to cover them,” said the CEO of Ripple. The right attitude drives the industry  Garlinghouse used the example of 2018-2019, when the US SEC recognized Bitcoin and Ethereum as commodities, not securities. Such decisions, according to the head of the cryptocurrency company, do not contribute to the development of the industry, unlike the decisions of the Chinese government.     Binance is not allowed to operate in the Malaysian jurisdiction http://thecoinshark.net/feed/binance-is-not-allowed-to-operate-in-the-malaysian-jurisdiction http://thecoinshark.net/binance-is-not-allowed-to-operate-in-the-malaysian-jurisdiction Sat, 18 Jul 2020 13:00:00 +0000 The SEC of Malaysia announced that the largest cryptocurrency exchange Binance did not have official authorization in the country. Binance did not pass the authorization procedure According to the laws of this country, cryptocurrency exchanges must register with the local SC as exchanges for trading digital assets. After filing the relevant application, companies have a nine-month period to comply with the requirements of the financial regulator. To date, only three cryptocurrency exchanges have managed to obtain official approval from SC Malaysia, among them Luno, Sinegy and Tokenize. Binance has big plans for Malaysia Earlier it was reported that for testing the new payment card Binance before the official release in European countries, the company's management chose Malaysia and Vietnam. And the action of the local SC has not yet received any reaction from the crypto-exchange. Not the first time in the last year This is not the first time for Binance in some countries. In June 2020, it turned out that the exchange did not have a work permit in Brazil, and in February of this year, a similar statement came from the Malta financial regulator. Start trading on Binance The volume of Bitcoins in circulation fell to a minimum in 19 months http://thecoinshark.net/feed/the-volume-of-bitcoins-in-circulation-fell-to-a-minimum-in-19-months http://thecoinshark.net/the-volume-of-bitcoins-in-circulation-fell-to-a-minimum-in-19-months Sat, 18 Jul 2020 10:03:00 +0000 The volume of the most famous cryptocurrency Bitcoin, which are in free circulation, fell to the lowest level in the last 19 months.  Bitcoin supply in the market continues to fall At the beginning of the year, this indicator rose by 16%, and then fell by the same value. In the past, this phenomenon has happened to Bitcoin only twice, and in both cases preceded the future rise in the price of BTC. The current situation means that cryptocurrency holders prefer to keep their coins in their wallets than to take part in active trading. The same can be said for miners who keep mined Bitcoins in their wallets instead of selling. Fewer active wallets The same dynamics is observed in the number of active bitcoin wallets. If at the beginning of the year one could observe an upward trend, now this indicator is decreasing. This already happened in 2017, before reaching the historical high of the bitcoin price, which is 20 085 USD per coin, as well as in 2019, before the start of bullish dominance in the market.  Will there be future growth in BTC? Experts see the prerequisites for the rapid growth of the first cryptocurrency this time too.  "If the demand for Bitcoin continues to grow, and there is no way to increase the supply of this asset, then this means that its price will rise very strongly.", — stated cryptanalyst Lin Elden.   DeFi: What You Need to Know About Decentralized Finance http://thecoinshark.net/feed/defi-what-you-need-to-know-about-decentralized-finance http://thecoinshark.net/defi-what-you-need-to-know-about-decentralized-finance Sat, 18 Jul 2020 06:49:00 +0000 Decentralized finance DeFi (decentralization finance) is an economic and financial paradigm that has breathed new life into the cryptocurrency industry. DeFi blockchain technologies are financial ecosystems devoid of central control and intermediaries, in which users interact through peer-to-peer networks and DAPPs. The main role of decentralized finance is to enable absolutely everyone to use payment systems and financial products, like those of classical banks, regardless of citizenship or financial situation. In addition, a significant advantage of DeFi is their modular structure and interoperability between blockchains, which will allow the creation of entire financial services markets. Schematic representation of how banks and DeFi work In this material, we will examine in detail the advantages and disadvantages of the most ambitious direction of blockchain technology development, which seeks to become a full-fledged alternative to classical banking systems. What is the difference between cryptocurrencies and DeFi? From the classic description of DeFi, which defines them as financial instruments based on decentralized systems, the question may follow: how are they different from conventional cryptocurrencies? And this will be logical, because Bitcoin and Ethereum are also assets that represent a certain financial value and are built on an exclusively decentralized blockchain technology. The popularity of blockchain platforms for launching decentralized applications Despite this, there is a fundamental difference between the classic cryptocurrency and DeFi. The fact is that, although a cryptocurrency is a token written on a blockchain, its purpose, often, has to be invented independently, if this is not provided in advance by the developer. And in this case, most crypto-coins become just a speculative instrument for traders, or a high-risk investment for investors. In turn, decentralized finance offers full-fledged banking products and is being developed to replace the traditional financial system, fully implementing its capabilities on the blockchain. Of course, the first cryptocurrencies are not capable of this, and this is the main difference. DeFi Benefits Over Traditional Finance Given the fact that most modern DeFi runs on the Ethereum blockchain, their technological advantages also come from Ethereum's capabilities, including Smart Contracts. There are three main advantages of decentralized finance: Programmability. The use of smart contracts working on the Ethereum blockchain allows you to program the fulfillment of any transaction conditions, creating new financial instruments and valuable assets. Security. The decentralized structure of the application, in which data is stored on hundreds and thousands of different nodes, makes it technically impossible for a hacker attack or hacking in order to take control or change data on the network. No node on its own can harm the entire network, which evenly distributes the storage and confirmation of information across all nodes. Compatibility. The shared use of Ethereum protocols allows different DeFi to interact with each other, creating opportunities for the existence of a full-fledged financial ecosystem. But the main and fundamental difference from traditional financial systems is the complete absence of intermediaries. Each dispute is automatically resolved by code, ensuring that the original terms of the contract are met and absolutely unbiased. This significantly reduces the cost of any transactions that no longer require the mandatory involvement of third parties. DeFi also has a significant social advantage over the classic banking system. Since the latter function only thanks to commissions, fees and interest, respectively, they do not enter potentially disadvantageous markets. Decentralized financial systems, on the other hand, are available to people from any country and social class, since they do not need large commissions and additional fees Application of decentralized finance According to the information service DeFi Pulse, the market for decentralized applications is constantly growing. In the last year alone, the capitalization of assets blocked in Defi has increased 5 times, and currently exceeds 2.5 billion US dollars. The value of assets locked in DeFi applications All existing decentralized applications can be divided into 3 broad categories: DeFi lending Open and transparent lending services are very popular due to their clear advantages over traditional lending institutions. DeFi does not require mandatory checks, and the use of blockchain and smart contracts solves the issue of trust when concluding a contract. Decentralized lending is more profitable due to the absence of intermediaries, has a high speed of decision-making and is available to almost everyone. Decentralized financial services DeFi allows the creation of stablecoins - digital tokens backed by a real physical asset. This is a new type of cryptocurrency, which is devoid of their main drawback - high volatility. Indeed, a more logical use of a volatile asset would be trading and investing, but definitely not monetary settlements on an ongoing basis. Unlike classic cryptocurrencies, the value of stablecoins is tightly tied to fiat currencies, precious metals, or other assets that are locked into DeFi accounts. Thus, to issue one dollar stablecoin USDT, you need to block 1 USD, backing the coin with the value of a real asset. Thanks to this, stablecoins are an alternative payment instrument that is not controlled by government agencies. Decentralized Exchanges DEX One of the most significant technologies that came out of DeFi. Decentralized exchanges are gaining popularity every year and this is easy to explain. The fact is that trading on DEX is conducted without the participation of a broker, as on classical exchanges. The transaction takes place directly between the wallets of the two parties using smart contracts. Thus, it is possible to avoid unnecessary trading commissions, and the exchanges themselves do not require complex maintenance, unlike their centralized counterparts. In addition, DeFi can be used to issue security tokens, create derivatives, forecast, track transactions (KYT), launch asset management funds, mortgages, and insurance. The most famous DeFi projects Capitalization statistics of the most popular DeFi according to Defi.review Compound. A project on the Ethereum blockchain that allows you to invest in lending and take out loans. Each Compound member can transfer their assets to a liquidity pool and earn interest by issuing these funds as loans. Compound was launched in September 2018 and updated to v2 in May 2019. The protocol supports BAT, DAI, SAI, ETH, REP, USDC, WBTC, and ZRX. Compound is managed by the project community. The owners of the COMP token and their delegates vote on all decisions and changes within the project. MarerDAO. Operating since 2017 and the most famous decentralized financial system, which for a long time held the leading position in terms of capitalization among other DeFi. The DAO blockchain platform also works on the Ethereum protocol, and allows you to issue loans in DAI stablecoins after collateral in ETH or BTC. In addition to lending, backed by other assets, DAI can be used for gambling, financial markets, international trade and for accounting. Lightning Network - One of the few DeFi projects to use the Bitcoin blockchain. The goal of the LN protocol is to increase the scalability of the bitcoin network. The Lightning Network consists of a network of interconnected payment channels. A channel opens when two or more participants enter a transaction on the public blockchain. While the channel is open, participants can conduct any number of transactions between themselves. Curve Finance. Decentralized exchange for trading stablecoins, which has been operating since January 2020. This DEX does not yet have its own token, but allows traders to trade using special algorithms with a reduced commission, which are designed specifically for stable tokens. DeFi Perspective Of course, like any technology, decentralized financial systems are not without some disadvantages. The main one is the low performance of the blockchain. According to one of the famous financiers of our time, “The Ethereum blockchain is slower than a calculator thirty years ago,” which is partly true. The low bandwidth of many blockchain networks significantly limits the use of DeFi. Until this problem is resolved, it is too early to talk about superiority over traditional financial systems, which are dozens of times faster. But it should be borne in mind that the DeFi sector is currently the most active direction in the development of blockchain technologies, which gives hope for the resolution of the "childhood diseases" of decentralized networks in the near future. The main thing is that we have the opportunity to observe and take part in the development of a real alternative financial sector, which will not be controlled by states and will be able to provide services to all segments of the world's population. Beijing And Suzhou To Lead The Blockchain Industry http://thecoinshark.net/feed/beijing-and-suzhou-to-lead-the-blockchain-industry http://thecoinshark.net/beijing-and-suzhou-to-lead-the-blockchain-industry Fri, 17 Jul 2020 14:28:00 +0000 The authorities of the capital of the PRC, the city of Beijing, as well as one of the largest metropolitan areas of the state Suzhou, have decided to release a list of measures to stimulate the development of blockchain technology. Manifesto The authorities of the capital have prepared a document of 145 pages, which detailed all the steps necessary for the development of the blockchain industry in the region in the next two years. https://twitter.com/btcinchina/status/1283949958199046144 Technological platform The authorities are going to create a technology platform based on blockchain technology. Its source code will be open and all other public and private infrastructure will develop within it. World-class institute In addition, the Chinese Communist Party plans to open a research institute to promote public services. It already has 140 use cases Startup Zap Raised $3.5 Million http://thecoinshark.net/feed/startup-zap-raised-35-million http://thecoinshark.net/startup-zap-raised-35-million Fri, 17 Jul 2020 12:34:00 +0000 Representatives of Zap said they raised $3.5 million in their first round of funding. Where is this coming from? This information was published on Zap Twitter. https://twitter.com/JackMallers/status/1283872661324455937 Who invested? The main investors were Morgan Creek Digital and a large fund Green Oaks Capital. Representatives of the crypto startup said they would spend this money on scaling the business. More about Zap Recall, the crypto startup Zap is developing wallets based on the Lightning Network protocol, which in turn significantly reduces the transaction confirmation time and reduces fees. Asset Manager Lost Investor Funds at a Casino http://thecoinshark.net/feed/asset-manager-lost-investor-funds-at-a-casino http://thecoinshark.net/asset-manager-lost-investor-funds-at-a-casino Fri, 17 Jul 2020 09:01:00 +0000 A resident of New York, Douglas Jae Woo Kim, has tricked out three investors. He fraudulently took $4.5 million and spent it on gambling. What happened? The accused took a large amount of money from three people and promised that he would invest them in low-risk operations with cryptocurrencies, and instead, wasted them in the casino. The information appeared on the official website of the New York State Attorney's Office. The fraud's legend Based on the complaint and the testimony of the victim, given under oath, the accused introduced himself as a crypto-trader. He asked his acquaintances and friends for funds to scale up his low-risk operations. He also stated that he was already operating with an amount of $300 - $400 thousand. He promised his investors high-interest rates, but to date has paid only one of them. Crime and Punishment His scheme ran from October 2017 to May 2020. In total, he raised over $4.5 million. Instead of the promised cryptocurrency trading, he gambled at casinos. A criminal case was opened on the fact of the crime, under article fraud with electronic currencies.   Industrialists for the industry: new exchange service from the experienced cryptoplayers http://thecoinshark.net/feed/industrialists-for-the-industry-new-exchange-service-from-the-experienced-cryptoplayers http://thecoinshark.net/industrialists-for-the-industry-new-exchange-service-from-the-experienced-cryptoplayers Fri, 17 Jul 2020 07:47:44 +0000 The recent revival of the crypto market overrides the negative forecasts describing the death of crypto. Moreover, COVID-19 pandemic and the related economic downturn increases the investor’s attention to the coins. Many market players consider cryptocurrencies as an alternative investment asset, similar to gold or commodities. For those who operate on the cryptomarket and change one type of coin to another or fiat currency, Godex.io offers the exchange service. Brief history and ideology of Godex.io The owners of Godex.io call themselves “industrialists,” meaning their significant weight and experience in the crypto industry. The in-depth knowledge of the market and the communication with the major players helped to shape the main principles of service and make it useful and attractive for the clients. The owners say they just created the service they want to use themselves: simple, fast, and reliable. In fact, they became a “buyer persona”, the personalization of an ideal service customer. The development of Godex.io started from the business requirements gathering. Numerous surveys show that there are three main criteria that cryptotraders check choosing the exchange service: rates, transaction speed, and service reliability. Every client of the cryptoexchange wants to get the money quickly and safely without overpaying. So, the service owners invested in the facility to make it meet the best client’s expectations.  Taking in attention the nature of the cryptomarket, Godex.io rejected the idea of collecting and keeping the clients' personal information. In this way, the service pays respect to information subject to financial secrecy. Moreover, this policy decreases the risks related to hacker attacks and information leak: no sensitive information can be obtained from the website.  What is Godex.io now? Now Godex.io is one of the fastest exchange services on the market – order execution time varies from 5 to 30 minutes. The time depends on the confirmation speed in a decentralized network: it takes longer for amounts of more than 1 BTC. The service reliability is based on the modern security protocols and physical protection for the servers. At last, Godex.io tracks, accumulates, and analyses the exchange rates from Bitfinex, HITBtc, Binance, and many other partners to form the best possible price for its clients.  For the sophisticated cryptoplayers, Godex.io offers more than 200 coins to exchange and no exchange limits. These options are for cryptotraders who make money on the rate difference and use the extensive number of altcoins. Usually, the exchange services limit their business with the most accessible coins - Bitcoin, Ethereum, Ripple. Godex.io moves forward and works with many altcoins, check the full list on the website. No limit means that a client can exchange any amount per transaction, and the daily number of transactions is not limited.  How does it work? The exchange process is as simple as pie: the client chooses the exchange pair, then deposits the first coin, waits for a short time, and gets the second coin. Godex.io requires no registration, but the client should have the cryptowallet. There are many online services for cryptowallets, so it is not a problem. No registration is required: as it is said above, the service values anonymity and does not collect personal data.   Without wasting money on advertising, Godex.io developed the partner program. The service owners believe this is a win-win scheme: a partner can earn extra money, and the service reaches the right target audience in the shortest possible way. There is nothing new in such cooperation outside the cryptoworld, so why not use the same scheme for the cryptoexchange service. The owners of the popular crypto accounts – platforms, blogs, websites, etc. – can sign a partnership agreement and get the additional profit.  Currently, Godex.io provides its service for thousands of clients every day, completing more than 10,000 transactions daily. So, if you want to change one coin to another, try Godex.io and enjoy the fast transactions and the pleasant rates.  About Godex.io  Godex.io - cryptocurrency exchange service that offers access to more than 200 coins. With no obligatory registration, optimal rates, fast business processes, and no exchange limits, Godex.io won the reputation of the reliable exchange services among cryptotraders and other players on the market.  Godex Website - https://godex.io/ Godex Affiliate Program - https://godex.io/affiliate-program Twitter - https://twitter.com/Godex_io Medium - https://medium.com/@account_94523 Reddit - https://www.reddit.com/user/Godex_io/ American Sues The IRS http://thecoinshark.net/feed/american-sues-the-irs http://thecoinshark.net/american-sues-the-irs Thu, 16 Jul 2020 14:50:59 +0000 One of the former users of the Coinbase crypto exchange, Jim Harper, has filed a lawsuit against the United States Internal Revenue Service (IRS). Reason for lawsuit Harper's complaint lies in disagreement with a letter that was sent by the aforementioned federal agency last year. The fact is that in the summer of 2019, tax officials sent a letter to more than 10 thousand traders of the Coinbase crypto platform. Content of the letter In this letter, they insisted on the need to pay taxes, and also stated that Harper paid less than he should. Harper's position The plaintiff stated that he regularly pays taxes in full. He accuses the tax office, personally the chairman of the department, as well as 10 specific employees, of violating the 4th and 5th amendments to the US Constitution which guarantee the privacy of people One Stop Exchange: Swapping One Crypto for Another Is Easier Than You Think http://thecoinshark.net/feed/one-stop-exchange-swapping-one-crypto-for-another-is-easier-than-you-think http://thecoinshark.net/one-stop-exchange-swapping-one-crypto-for-another-is-easier-than-you-think Thu, 16 Jul 2020 13:44:00 +0000 Recent reports suggesting Coinbase will become the first major U.S. crypto exchange to go public on the stock market tell us one thing: the plexiglass that once separated the world of traditional finance from its digital cousin is starting to crack. There are other signs pointing to this conclusion, of course – the mountains of institutional capital that have flooded into the digital asset market in the past few years, to name but one. Trading and speculation have undoubtedly been the main use cases of cryptocurrency in its formative years, with professional and amateur investors weighing up new blockchains and tradable tokens the same way Wall Street brokers analyze and transact bonds and shares. Until relatively recently, though, life wasn’t easy for those seeking to swap between the thousands of different cryptocurrencies in the market.  Thousands of Cryptos Make Swapping a Nightmare With new coins and tokens emerging on a seemingly daily basis, a service was needed for users who wanted to swap between cryptocurrencies quickly and easily – to trade XRP for NXT, DASH for XMR, ETH for USDT, whatever the case may be. At the time of writing, there are over 2,000 different cryptocurrencies in existence, meaning busy traders must open accounts with numerous exchanges if they want to swap one crypto for another. After all, no one exchange lists every possible asset, and rates can differ dramatically between platforms. Step forward Swapy, a service that utilizes unique algorithms to parse the results from various crypto exchanges in real time, and find users the most profitable rate of exchange. Swapy executes customer orders on multiple trading platforms simultaneously, saving them the time and hassle of analyzing volume (which is often fake, anyway), registering for and switching between exchange accounts, and constantly scouring for the best rate. What’s more, Swapy gives users access to low-cap and low-liquidity tokens at spot price.  At present, Swapy can be used to swap BTC, ETH, USDT, REM, USDC or PAX into a wide range of altcoins with just a few clicks. Over 15 exchanges are integrated, including major players like Binance, Bittrex, Kraken and Huobi. Transaction times vary from five to 20 minutes, but uniquely, commission is only ever applied to the % users save by using Swapy rather than an exchange. Broadening Users’ Horizons With over 50 million blockchain wallet users worldwide, and a large percentage of them custodied by centralized exchanges, many crypto-holders feel locked into one platform, with said platform doing everything they can to reinforce this notion. What services like Swapy do is broaden users’ horizons, letting them benefit from better rates elsewhere while providing them with detailed information about the exchange process. Swapy also uses a liquidity pool for some tokens and coins, meaning less time spent waiting for exchanges and much faster swaps. Swapping into Stablecoins When the Market Dips It’s easy to see why professional traders and full-time investors might appreciate what Swapy offers. After all, they seem like the most likely beneficiaries of such a service, given that they seek to continually capitalize on market movements. But what about the everyday user who might have started a rainy day bitcoin fund, or who occasionally buys the native tokens of projects that catch their eye? Does such a user have a specific need to swap between cryptocurrencies? If they want to preserve their crypto wealth, then yes, such a need exists. Surges in market volatility highlight this point best, as individuals tend to want to hold stablecoins during turbulent periods rather than watch the value of their digital assets plummet. Liquid, price-stable and trusted, stablecoins represent useful hedges when the market dips, with dollar-pegged iterations such as Tether (USDT), USD Coin (USDC), Dai (DAI) and TrueUSD (TUSD) all having experienced growing demand. According to research by The Block, stablecoin transaction volume rose by 8% in the first three months of the year, and surpassed $90 billion for the first time ever. Some stablecoins are even pegged to a basket of fiat currencies, as is the case with the Saga Foundation’s SGA. This particular cryptocurrency is pegged to the collective worth of the IMF’s Special Drawing Rights, an international reserve asset. You don’t have to be a seasoned trader to recognize the value in swapping from, say, XRP into USDC when the crypto market takes a hit. Or of then swapping back when it recovers. Of course, there are other scenarios which might tempt everyday users to swap one crypto for another: an unpopular protocol upgrade, for instance, might force you to reconsider your faith in a certain coin. Sure, you can sell it peer to peer or via an exchange; but swapping it for a better cryptocurrency via Swapy is the best option. After all, you’ll get the best rate and pay a modest commission only on money saved. The process is entirely transparent and there is an extensive list of supported coins, from esoteric altcoins to recognized stablecoins. You don’t even need to register for an account. If the crypto market is ever to attain mainstream status, ease of use will be a key battleground. Swapy addresses a common pain point, letting users to get out of one token and into another with low fees and zero friction. Crypto Funds Grayscale Reported For The Second Quarter Of 2020: The Numbers Are Striking http://thecoinshark.net/feed/crypto-funds-grayscale-reported-for-the-second-quarter-of-2020-the-numbers-are-striking http://thecoinshark.net/crypto-funds-grayscale-reported-for-the-second-quarter-of-2020-the-numbers-are-striking Thu, 16 Jul 2020 12:01:00 +0000 For Grayscale Investments, the second quarter was the most successful in history. Their cryptocurrency funds attractув record investments of $905.8 million. Where is this coming from? Such information appeared on the official page of Grayscale Investments on Twitter. https://twitter.com/GrayscaleInvest/status/1283386342148386816 The second quarter in numbers This figure was almost twice the previous maximum. Last time, the record was $503 million. The weekly capital gains averaged $69.7 million, of which $57.8 million came from the Grayscale Bitcoin Trust. The growing popularity of the Grayscale Ethereum Trust Also, company representatives confirmed the growing interest in their crypto fund associated with Ethereum accounted for about 15% of the total investment. Widget Gemini is now available in the new version of Brave http://thecoinshark.net/feed/widget-gemini-is-now-available-in-the-new-version-of-brave http://thecoinshark.net/widget-gemini-is-now-available-in-the-new-version-of-brave Thu, 16 Jul 2020 08:35:00 +0000 The developers of the new private browser Brave have added a new Gemini crypto exchange widget. What is it for? With its help, users will be able to store their digital assets and trade them on the popular Winklevoss Brothers exchange. https://twitter.com/brave/status/1283433320844386304 Where is it available? This widget is available in the new version of the Nightly browser, designed for developers and beta testers. How to open it? To access the widget, you need to open a new tab and the Gemini widget will appear in the right upper corner, where you can quickly and conveniently manage your crypto assets. Custodian Metaco Raised $17 Million http://thecoinshark.net/feed/custodian-metaco-raised-17-million http://thecoinshark.net/custodian-metaco-raised-17-million Wed, 15 Jul 2020 15:21:00 +0000 A custodial crypto service intended for institutional investors Metaco was able to raise $17 million during the first round of financing. Where does the information come from? The information appeared on the official Metaco page on Twitter. https://twitter.com/metaco_sa/status/1283012247942569984 Waiting vs Reality The main investors were Giesecke + Devrient. Representatives of Metaco noted that this figure exceeded their expectations twice. What makes the Metaco crypto service so special? Recall, Metaco launched its main product for institutional investors in 2018. The company's specialists have developed an operating system for digital assets called SILO. With its help, traditional financial institutions can quickly integrate digital currencies into their infrastructure.   50 BTC Was Moved After 10 Years http://thecoinshark.net/feed/50-btc-was-moved-after-10-years http://thecoinshark.net/50-btc-was-moved-after-10-years Wed, 15 Jul 2020 12:55:00 +0000 Yesterday, July 14, 50 BTC mined more than ten years ago, was moved. From the information provided, they were accrued on May 24, 2010. Coin Location As of the time of this writing, these coins were not sent to services for mixing bitcoins, they simply stayed on the recipient's wallet. The reason for the transaction Some crypto experts believe that this transaction may indicate the transfer of “white” coins, others think that the owner just wanted to check at the public’s reaction. Block reward Recall, initially, the reward for the found block was 50 BTC. Every four years (once every 210 thousand blocks), this amount is halved. At the moment, it is 6.25 BTC.   Double Murder In Mexico: Two Promoters Of The Pyramid OneCoin Are Dead http://thecoinshark.net/feed/double-murder-in-mexico-two-promoters-of-the-pyramid-onecoin-are-dead http://thecoinshark.net/double-murder-in-mexico-two-promoters-of-the-pyramid-onecoin-are-dead Wed, 15 Jul 2020 08:51:00 +0000 Mexican bitcoin news informs, two people who were promoting the OneCoin crypto pyramid were found dead. Oscar Brito Ibarra At the end of 2017, when the cryptocurrency market was at its peak, Oscar Brito Ibarra joined the promising OneCoin project. He became the promoter of the project, he traveled around the country and searched for new investors. Ignacio Ibarra After a while, Oscar invited Ignacio Ibarra to the project, and he entered the Latin American Automotive Marketing Company (CLA). They promised investors a discount on the purchase of the car, subject to the use of the OneCoin system. The last trip At the end of last month, they went to the Mexican city Mazatlan. And just recently, the police found their bodies. Investigators suspect that the killings may be connected with local drug cartels. The fact is that criminals in Mexico very often use digital currencies for the purpose of money laundering Opinion: Bitcoin Traders From South Korea Will Pay Tax Of 20% http://thecoinshark.net/feed/opinion-bitcoin-traders-from-south-korea-will-pay-tax-of-20 http://thecoinshark.net/opinion-bitcoin-traders-from-south-korea-will-pay-tax-of-20 Tue, 14 Jul 2020 15:02:00 +0000 According to local South Korean crypto-media, the country's authorities are thinking about to increase in capital gains tax on operations with digital currencies up to 20%. Where does this information come from? This conclusion was made by representatives of the private sector, who discussed legislative initiatives of the government of South Korea. What's this all about? These possible legislative changes may be connected with a new interpretation of cryptocurrencies: as a commodity, not a currency. That is, digital assets can be considered as electronic certificates of economic value, but during operations, it is regarded as an asset. “Until now, virtual assets have been recognized only as a function of currency and have not been subject to income tax, but recently, virtual assets (like Bitcoin) are increasingly being traded as goods with property value. Considering various conditions, such as the recognition of intangible assets with property value, the necessity of taxation, and the recognition of the property value of virtual assets are being raised at the same time.” – wrote in the statement.  Who's it really for? Representatives of the private sector believe that the new rules will apply only to residents of South Korea, while everyone else will be exempt from this tax The Bank of England Sort of Took Cryptocurrencies In The Long Run http://thecoinshark.net/feed/the-bank-of-england-sort-of-took-cryptocurrencies-in-the-long-run http://thecoinshark.net/the-bank-of-england-sort-of-took-cryptocurrencies-in-the-long-run Tue, 14 Jul 2020 12:26:00 +0000 Representatives of the Central Bank of Great Britain are thinking about issuing their own digital currency. Where does the information come from? Although the Governor of the Bank of England, Andrew Bailey confirmed the possibility of the emergence of a state cryptocurrency, he said that this would not happen in the near future. Andrew Bailey`s Statement “We are looking at the question of, should we create a Bank of England digital currency. We’ll go on looking at it, as it does have huge implications on the nature of payments and society. I think in a few years time, we will be heading toward some sort of digital currency,” – Andrew Bailey said. Long term plans Apparently, the release of its own cryptocurrency is not on the agenda. “The digital currency issue will be a very big issue,” Bailey said, “I hope it is, because that means Covid will be behind us.”   Conflict between SEC and Abra http://thecoinshark.net/feed/conflict-between-sec-and-abra http://thecoinshark.net/conflict-between-sec-and-abra Tue, 14 Jul 2020 08:37:00 +0000 The U.S. Chief Financial Regulator (SEC), together with the Commodity Futures Trading Commission (CFTC), announced the agreement with representatives of the Abra crypto platform. What happened? Recall, employees of the U.S. federal departments accused the Abra platform of illegally spreading swaps on securities, which they held between December 2017 and October 2019. Government officials said Abra did not have the right to do this, as they did not have a license. SEC press release “The Securities and Exchange Commission today charged California-based Abra and a related firm in the Philippines for offering and selling security-based swaps to retail investors without registration and for failing to transact those swaps on a registered national exchange”. – said in the press release.   Penalties As a result, the Abra bitcoin platform will be required to pay a fine of $300 thousand - $150 thousand to each of these two Federal departments.   G20 Wants To Keep Up With http://thecoinshark.net/feed/g20-wants-to-keep-up-with-crypto-china http://thecoinshark.net/g20-wants-to-keep-up-with-crypto-china Mon, 13 Jul 2020 15:24:00 +0000 The G20 countries are going to change the legal field regarding crypto payments. Legalization of crypto payments In other words, the G20 wants to introduce payments in cryptocurrencies officially. China’s successes in this field, as well as the potential launch of the sensational Libra project by Facebook probably played a role in such a decision. When? This will be discussed at the level of finance ministers on October 15-16, 2020. Ministers will need to think about the negative aspects of using digital currencies (money laundering, terrorist financing, etc.).   Coinbase Made A Deal With The US Secret Service http://thecoinshark.net/feed/coinbase-made-a-deal-with-the-us-secret-service http://thecoinshark.net/coinbase-made-a-deal-with-the-us-secret-service Mon, 13 Jul 2020 11:36:00 +0000 US authorities have officially confirmed the information that they will use the software developed by specialists of the Coinbase crypto exchange for monitoring transactions on the blockchain of the US Secret Service. US Government Contract The US Secret Service has signed an agreement with the cryptocurrency exchange Coinbase for a period of four years. Out of on this contract, government representatives will have to pay $183,750 for using Coinbase Analytics. Data on the contract at the state portal. Source: usaspending.gov The interest of other federal departments Not so long ago, other federal agencies of the United States were interested in this software. Coinbase is far from the only crypto exchange that has similar software. Coinbase Analytics Development Recall that Coinbase Analytics is not the author’s development of the company's specialists, the creation of this software became possible only after the acquisition of Neutrino $3.1 Million Stolen From Cashaa Bitcoin Exchange http://thecoinshark.net/feed/31-million-stolen-from-cashaa-bitcoin-exchange http://thecoinshark.net/31-million-stolen-from-cashaa-bitcoin-exchange Mon, 13 Jul 2020 08:31:00 +0000 Officials from a major UK fintech company, Cashaa, have confirmed a hacker attack on one of their BTC wallets. Hacking Cashaa Wallet An unknown attacker gained access to the company's wallet and emptied it. According to official information, he managed to withdraw 336 BTC, which at the current rate is more than 3.1 million US dollars. https://twitter.com/yourCashaa/status/1281995351864430593 Malware The company believes, the Trojan software was installed on the computer that was used for operations with customers' coins. Using this software, a hacker received a notification when a Cashaa employee logged in. After that, the unknown made several transfers to the address 14RYUUaMW1shoxCav4znEh64xnTtL3a2Ek. Consequences The company assured that the user’s funds are safe, and an investigation was started. Due to these events, the Cashaa cryptocurrency rate fell by almost 40%, but after a large dump, it slightly recovered. Changpeng Zhao Showed The Binance Map Interface http://thecoinshark.net/feed/changpeng-zhao-showed-the-binance-map-interface http://thecoinshark.net/changpeng-zhao-showed-the-binance-map-interface Sun, 12 Jul 2020 11:16:19 +0000 Changpeng Zhao, CEO of one of the largest crypto exchanges in the world, shared his first impression of using the Binance debit card. Zhao's first impression He wrote about his experience on Twitter: https://twitter.com/cz_binance/status/1281593589982621696 “All real transactions. Audible/Amzn, Grab (Uber replacement), Lazada (Amzn replacement). Merchants accepts fiat, I paid with BNB direct from my Binance account.” Binance New Product Interface He attached a screenshot of the interface of their new payment service. There you can see the history of payments, current cryptocurrencies, as well as the general balance of the card (both in BTC and euros) “Binance Card - I think I can finally go from 99% to 100% crypto” Acquisition of Swipe Recall, this week Binance officially confirmed the purchase of Swipe, which allowed the crypto exchange to launch its personal debit card. Start trading on Binance   Vitalik Buterin: It Will Not Take Long To Launch Ethereum 2.0 http://thecoinshark.net/feed/vitalik-buterin-it-will-not-take-long-to-launch-ethereum-20 http://thecoinshark.net/vitalik-buterin-it-will-not-take-long-to-launch-ethereum-20 Sat, 11 Jul 2020 11:14:00 +0000 The creator and ideological inspirer of one of the most popular Ethereum cryptocurrency projects, Vitalik Buterin, strongly disagrees with the point of view of the well-known developer Justin Drake regarding the launch dates for ETH 2.0. Drake's opinion Recently, Drake wrote that the Ethereum team had a number of tasks that need to be done before the genesis block. He also added that the test network should work without a single bug for about three months and therefore Ethereum 2.0 is unlikely to be launched in 2020. Buterin's answer “I personally quite disagree with this and I would favor launching phase 0 significantly before that date regardless of level of readiness” Eth 2.0 is simpler than 1.0 Buterin thinks launching phase 0 of Ethereum 2.0 is even simpler than Ethereum 1.0 because there neither a complex PoW-oriented GPU, nor a complex virtual machine no longer. “I'm inclined to say eth2 phase 0 is a little simpler on-net. Also, eth2 is not going to have any critical applications depending on it until phase 1” Rumors: Coinbase Is About To Enter The Stock Market http://thecoinshark.net/feed/rumors-coinbase-is-about-to-enter-the-stock-market http://thecoinshark.net/rumors-coinbase-is-about-to-enter-the-stock-market Fri, 10 Jul 2020 14:38:41 +0000 It became known recently, that Coinbase, the largest crypto company in the United States, is beginning to prepare to issue its own shares in the traditional market. IPO or direct listing? As authoritative crypto news reports, this event may well take place before the end of this year. Although according to some sources, Coinbase is not going to carry out a classic IPO but wants to enter the market using the direct listing. What is direct listing? In simple words, direct listing implies that stockholders will be able to immediately trade their assets, without a period of blocking as with an IPO. But it is important to understand that this method does not involve raising new funds. Estimated Coinbase Capitalization Recall that in the fall of 2018, at the end of the extreme round of financing, Coinbase was estimated at $8 billion.   Opinion: XRP For 20 Cents - That's Fair http://thecoinshark.net/feed/opinion-xrp-for-20-cents-thats-fair http://thecoinshark.net/opinion-xrp-for-20-cents-thats-fair Fri, 10 Jul 2020 11:25:00 +0000 One of the top managers of Ripple.lab, the technical director David Schwartz, expressed the opinion that the current rate of XRP tokens is fair. XRP price is fair In his opinion, the market price of XRP cryptocurrency is a consequence of trust in the project, and not the manipulation of large holders, as many believe. If the price was too high or vice versa too low, then traders would quickly correct it. David Schwartz answers He expressed this point of view on Twitter. One user asked Schwartz if he considers the price of 20 cents per XRP fair, to which CTO Ripple replied: «I honestly believe (crazy as it sounds) that cryptocurrency prices generally do reflect the wisdom of crowds and a fair assessment of the expected future. I am way in the minority on this view and of course I could well be wrong. But that's what I truly believe». Whales influence is overestimated He is convinced that whales don`t have the power to manipulate the crypto market, although the vast majority of experts believe the opposite. Follow Us in Social Media: LinkedIn | Twitter | Telegram | Facebook