Google Play Store Banned App For Mining Cryptocurrency

google play

The Google Play Store has made some updates to the Developer Policy Center in the Prohibited Content category. Now you can no longer place apps for mining cryptocurrency on devices in the Google Play Store.

The improvements include banned apps such as MinerGate, Crypto Miner, NeoNeonMiner, etc.. This spring, Google also banned the placement of extension for mining in the Chrome Web Store.

We would like to remind you that last month App Store also banned apps for mining tokens on mobile devices. But, as in the Google Play Store, cloud mining is still available for users.

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Google Is Removing Apps That Require User Info

It is already 2019, and this year cyber criminals and scammers are working on their evil plans for this year. Meanwhile, companies tend to pay more attention and allocate more funding for cyber security and strengthen the protection on the people’s information.

Google is also quite concerned with the privacy of its users. It is going to remove all applications from its Play Store that require the users to provide their personal information, like SMS and call log data.

According to the official blog post:

Our new policy is designed to ensure that apps asking for these permissions need full and ongoing access to the sensitive data in order to accomplish the app’s primary use case, and that users will understand why this data would be required for the app to function.”

This new policy was first announced in October of 2018, and all app developers were given 3 months to alter the applications or submit the Permissions Declaration Form.

The restriction will concern not only “foreign” apps, but also the applications developed by Google itself.

We remind you:

Google Play Store Banned App For Mining Cryptocurrency

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How to Get Bitcoin And How Profitable is Mining in 2019

Appearance of Bitcoin has marked the beginning of a new era in development and dissemination of money. 2018 became a crucial point for cryptocurrencies. In this article we will talk more about Bitcoin mining, find out what is needed and how to earn from it.

1. What is Bitcoin mining?

BTC mining is carried out with the help of specialized computer equipment, so-called Bitcoin farms. In order to open a new block, the miners resolve complex mathematical problems, for which the network rewards them with X number of coins.

Bitcoin algorithm is designed in such way, that every 210 thousand blocks the reward decreases exactly by twice. At the very beginning, miners received 50 coins for each new block, then this number was reduced to 25, and now this value is 12.5 BTC.

2. What are the ways to get Bitcoins?

Bitcoin is the most popular cryptocurrency in the world, many people would like to become its lucky owner. Here are some ways to do it:

– Bitcoin faucets. This is an absolutely free method to get coins. It lies in performing various simple tasks, such as decoding and entering captchas, clicks on advertising links, browsing advertisers` websites, etc. This work is absolutely simple, but it requires  patience. We want to remind you, that reward for such work is purely tokenistic and it is not possible to earn decent money from Bitcoin faucets.

– Mining. This method means investment into equipment. It can be completely different: you can organize home mining on graphics cards spending 2-3 thousand US dollars on it, or you can build a huge data center by investing hundreds of millions of US dollars into this enterprise. Thus the income should be directly proportional to the initial investment. Unfortunately, today cryptocurrency is so volatile that it is impossible to calculate how much profit Bitcoin mining will bring in 2019.

– Salary in crypto. Nowadays, the fact of getting salary in cryptocurrency is no longer supernatural. Yes, it is still uncommon, but it is far from single instance.

– Purchase. The most obvious way to get cryptocurrency is to purchase it. Nowadays, you can buy Bitcoin using a large number of services (exchanges, currency exchange offices, individuals, etc.).

3. What is needed in order to start BTC home mining ?

In general, this is rather a broad theme, but in this article we will only briefly run through the main points, without which home mining is impossible. So you need to:

  1. Buy equipment for mining (graphic cards or ASIC miners).
  2. Create a Bitcoin wallet. Without this it will be impossible to get coins.
  3. Select a mining pool. Nowadays the hash rate (total computing power of all the miners) of Bitcoin network is really huge, that is why the algorithm constantly increases its overall complexity. This is why it will be very difficult for one miner to open a new block even with sufficiently powerful equipment.
  4. Install a special software for mining.
  5. Follow the process and, if necessary, repair or replace the components.

You should also remember that mining equipment (especially ASIC-miners) make a noise and heat up while working, therefore installment of farms in a residential house is not a good idea.

4. What is cloud mining?

There is another way to start mining Bitcoins. This is a cloud mining. It does not involve physical contact of person with equipment. A user buys a certain amount of computing power at a large data center and immediately starts to get income from it. So, how is it better to mine Bitcoin, on your own or using cloud? Everyone will find his own answer. Definitely, profit of home mining will be higher, but cloud mining will ease your pain associated with farm maintenance. Someone is willing to pay for his or her comfort, but another one would prefer to do everything by independently, therefore, everyone decides on one’s own.

5. Which video adapters work best for Bitcoin mining?

Each particular video adapter has its own payback period, which directly depends on what is happening on the cryptocurrency market. 2019 has just started, so here is the list of the most cost-effective video adapters for BTC mining in 2018:

  • NVIDIA GTX 1080 TI.
  • NVIDIA GTX 1070 TI.
  • NVIDIA GTX 1070.
  • RADEON VEGA FRONTIER EDITION.
  • RADEON RX VEGA 56.
  • RADEON MINING RX 470.
  • NVIDIA P106-100 (GEFORCE GTX 1060).

6. How to calculate Bitcoin mining correctly?

Bitcoin rate is very volatile, network hash rate is also unstable, so, it is almost impossible to calculate exactly the mining profit. But there are convenient calculators which will help you to find out at least approximate numbers.

7. What does BTC rate depend on and what will happen next?

Bitcoin price varies in the trading range of USD 4000.00. Bitcoin emission is limited and it amounts to 21 million coins. Over 17 million ones have already been mined. But it is necessary to recall a double decrease in the remuneration for a found block, which occurs every 4 years. It is easy to calculate that over the next 30 years, more than 99% of all coins will be mined, and the remaining 1% will be mined over the next 100 years.

According to the laws of economics, this feature makes Bitcoin a very valuable and, most importantly, a limited resource. Now Bitcoin capitalization is about 70 billion US dollars, and it is absolutely a wasted number from the world scale perspective. Many market experts predict a great future for this coin, for example, John McAfee believes that 1 Bitcoin by December 2020 will be USD 1,000,000.00.

If to take a look at Bitcoin chart for the entire history, one can see approximately the same picture of what is happening: rapid growth, prolonged correction, stagnation after which the cycle repeats. Moreover, every time during the correction, the media “buries” Bitcoin, and the coin after some time again renews its previous records.

8. Conclusion

Bitcoin mining, as of the beginning of 2019, is not a very profit-making enterprise without major initial investment. Bitcoin mining should be considered more like an investment for the future, when BTC becomes a very scarce asset and its value can literally skyrocket. Well, we cannot do anything but wait and actively monitor the developments.

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GMO Will Keep On Mining Bitcoins at a Different Location

One of the world’s largest IT companies, Japan-based GMO has published its monthly report regarding its mining activities and the profits coming from them.

We remind you:

Japanese GMO Releases a Monthly Update: What Has Changed As For Mining?

Based on the December’s document, the revenue from mining cryptocurrency has dropped down  significantly which implies that immediate measures must be taken.

One of the biggest pitfalls of mining is the amount of electricity consumed and its high price. Thus, GMO made a decision to relocate its main mining center into a different area, where electricity will cost way less.

We will relocate the mining center to a region that will allow us to secure less expensive power supply,” reads the report.

Moreover, the company refuted all the rumors regarding its alleged plans of giving up mining completely. Since 2017, when GMO first engaged into mining, it has earned massive profits and still sees potential in crypto.

As we may see in the statistical data, the mining reward for Bitcoin increased a lot in the last month of December, whereas Bitcoin Cash suffered a hard fall. But the crash of the crypto market and Bitcoin in particular could not be controlled by GMO and affected its business quite badly, making it “move houses”.

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The “Fatal 2018” or The Most Important Events Of The Year

The digital coins market shows a negative trend throughout the year 2018. Compared to the historical maximum, the total cryptocurrency market cap has decreased by almost 8 times. The cryptocurrency market shows a negative trend throughout 2018. During the year, news of the cryptocurrency market that are actively discussed in media, have a negative meaning. Let us recall the most important events that occurred on the cryptocurrency market.

Content:
(please, click the topic to scroll down to it)

  1. Banking system against digital coins
  2. Internet restrictions
  3. Bitcoin ETF
  4. Formation of legislation
  5. Attracting of institutional investors
  6. Active development of the OTC market
  7. ICO Market Growth
  8. Cryptocurrency companies entering the IPO market
  9. Integration of financial conglomerates
  10. Integration with Internet companies
  11. Conclusion

1. Banking system against digital coins

At the very beginning of 2018, traditional financial institutions began to limit the capabilities of participants in the cryptocurrency market. A large number of fairly large banks around the world began to close the accounts of companies whose activities are related to cryptocurrency. We may also recall the decision of Visa to terminate cooperation with major European companies. All this adversely affected cryptocurrency companies. But it is worth noting that the restrictions of banks affected not only legal entities, along with this ordinary customers also lost an opportunity to buy cryptocurrency through their credit and debit cards.

A similar policy of the Reserve Bank of India led to the fact that local cryptocurrency platforms closed crypto-fiat trade. In the middle of autumn, Zebpay cryptocurrency exchange was forced to close the cryptocurrency exchange service. A similar situation happened in Zimbabwe, but cryptocurrency companies were able to challenge this decision with the help of the Supreme Court of the country.

Such policy of traditional financial sector representatives speaks only of their concern and desire to get rid of a potential competitor. If to analyze the cryptocurrency market, it becomes obvious that this industry is developing too fast. This makes the financial giants to tremble with fear and uncertainty about the future. This event played a big role in crypto market cap lowering.

2. Internet restrictions

Another damage to the cryptocurrency industry in 2018 was caused by the largest Internet companies: Google, Twitter, Facebook, Baidu, Alibaba, WeChat, Yandex, etc. All of the above mentioned information giants banned the promotion of cryptocurrency and ICO on their sites. This decision caused corresponding consequences, namely, undermined confidence towards the industry, and also cryptocurrency market capitalization decrease. Mining applications were blocked in App Store.

The Internet giant’s representatives explained their decision by the fact that there is a huge number of scammers in the cryptocurrency industry, which trusting users should be protected from. However, just a few months later, Facebook and Google reconsidered their decision and partially canceled it.

3. Bitcoin ETF

One of the most discussed topics in the industry since mid-summer of 2018 is the possible launch of Bitcoin ETF. The fact is that the situation in the cryptocurrency market strongly depends on the SEC decision. We remind you that cryptocurrency market value growth, which occurred in November-December, was caused by the launch of futures at CBOE and CME. Many experts believe that the launch of ETF will be a much more powerful event than the last year’s futures.

But the situation that has developed around this issue is quite controversial. On the one hand, the SEC does not deny the possibility of giving permission to launch Bitcoin ETF. But on the other hand, The United States Securities and Exchange Commission rejects all applicants (or postpones the date of consideration) who submitted the application during the year. The staff of the SEC explain their reasons quite uncertainty.

It is worth mentioning that during 2018 a lot of funds and exchanges have submitted their applications: ITS, Direxion, VanEck, Winklevoss Bitcoin Trust, ProShares, SolidX, etc.

Based on the latest data, the Securities Commission must make a final decision on the ETF before February 27, 2019.

We want to remind you:

SEC Will Release the Decision on Bitcoin ETF in February

4. Formation of legislation

The cryptocurrency market`s fall, which began in early 2018, was caused by many reasons, one of them is the lack of a legislative base. In other words, at the moment the cryptocurrency market is not regulated at all. Just this year, a large number of changes were to occur in this matter. But, unfortunately, everything happened not the way it was expected.

It is worth noting that this year many countries of the world drafted bills, that in one way or another dealt with cryptocurrencies. Some states limited the presence of digital coins on their territory due to the complexity of regulation. Others, on the contrary, encouraged and developed this direction in every way. For example, on July 4, 2018, blockchain technology was officially legalized in Malta for the first time in the world.

At the end of the winter, the German authorities signed a law under which Bitcoin equated to legal means of payment and was thus released from taxation.

This year was the first time in the history of the industry, when the regulation of cryptocurrency was discussed at the highest international level. For example, the mechanisms for regulating the industry became an agenda at the G20 meeting. It was decided to postpone this topic till October, but no one has returned to it thoroughly so far. This also had a negative effect on the cryptocurrency ranking.

5. Attracting of institutional investors

This year, for the first time the entry of large players into the market was seriously discussed. The interest of institutional investors in cryptocurrency assets is confirmed by a survey of an independent consulting company Capgemini:

  • 44% of the surveyed large capital owners are interested in cryptocurrency investments;
  • 29% of the surveyed large capital owners showed high interest;
  • 27% of the surveyed large capital owners expressed moderate interest.

Another interview, which was conducted by an independent consulting company DeVere Group, says that almost 40% of large business owners want to see a list of cryptocurrencies by market cap in their investment portfolios.

6. Active development of the OTC market

The situation on the cryptocurrency market today is as follows (according to CoinMarketCap):

  • market capitalization of 130 billion dollars;
  • 24h trading volume is about 16 billion dollars.

The situation is not the best, to say the least of it. But it is worth noting that the second mark is not entirely correct. The fact is that we see only turnovers that relate to stock trading. According to the company TABB Group, the UTS trading market is approximately 2-3 times higher than the stock index. It should be noted that such transactions cannot be traced when dealing with blockchain, since private keys from wallets are transferred more often than coins.

There is a sufficient number of large players in the cryptocurrency market (large miners, investors, ICO organizers, etc.), who cannot satisfy their demand with the help of exchanges. More and more OTC platforms began to appear due to the growing demand in the industry.

7. ICO Market Growth

Even regardless of depressing mood on the cryptocurrency market, the number of ICO held in 2018 is much more than in 2017: more precisely, 741 vs 514. The amount of raised funds also grew: $18.16 billion vs $6.89 billion.

The most discussed project of this year was undoubtedly TON from Pavel Durov, who managed to attract $1.7 billion. These funds were obtained even without public ICO, and Durov had to refuse from the overwhelming majority of those who wanted to invest in his brainchild.

But if to consider the amount of collected money, the undoubted leader is the EOS project, which managed to raise about 4.2 billion dollars. This mark is the best not only in this year, but also in the entire history of the industry as a whole.

But even such major events as EOS or TON could not help a fading interest of people to invest in cryptocurrency at the stage of the initial coin offering. The situation is caused by a general decrease in the capitalization of the cryptocurrency market in 2018. Because of the downtrend on the market, the vast majority of coins now cost less than at the ICO stage.

8. Cryptocurrency companies entering the IPO market

ICO is certainly a rather convenient way to raise capital, but despite this, many cryptocurrency companies expressed their interest in entering the more traditional IPO market. The initial public offering or IPO is regulated by the SEC. Investors are more protected there and this fact attracts people with large capital.

As of the beginning of December 2018, only one company successfully conducted its own IPO, all the others did not go further than applications or plans announcement for the future so far. In August of this year, there was an initial public offering of Argo Mining Company. It works in a cloud mining field. The company’s results are quite good, it managed to raise $32.5 million during IPO.

9. Integration of financial conglomerates

As we wrote above, some large financial institutions have limited the cryptocurrency industry development by their policies. But it does not concern absolutely all financial conglomerates of the planet. In parallel with the collapse of the cryptocurrency market (financially), we can observe the world’s largest banks integration into the industry (Goldman Sachs, HSBC, Barklays, etc.).

At the very beginning of the year, Goldman Sachs, with the help of a startup Circle, bought one of the largest cryptocurrency exchanges Poloniex. The official sum of this transaction was not disclosed, but according to analysts’ estimates, such a purchase costed them about $400 million. It is worth noting that, Goldman Sachs invested $136 million in a startup Circle before acquiring Poloniex.

In early autumn the largest financial conglomerate of the land of the rising sun (Japan) Mitsubishi UFJ Financial Group started its own MUFG coin in a test mode. If the test is successful, then the representatives of MUFG promise to introduce it into their own payment system.

The Bank of America and other major financial institutions owners in the world got curious in Technology Ripple (xCurrent), which helps banks to save about $3 on each transaction. This year, a number of major banks and the Ripple company signed cooperation agreement. It was highly expected, because xCurrent technology allows banks to save tens of millions dollar a year.

10. Integration with Internet companies

Along with the negative news background that accompanies the cryptocurrency industry throughout the year, an increasing number of Internet companies are trying to integrate digital coins into their product. For example, a few months ago, the Opera browser for Android released support for a built-in cryptocurrency wallet. At the moment, this wallet supports only ERC-20 and ERC-271 tokens, but the developers promise to add support for new types of digital coins in the near future. If to follow the news, it is easy to notice how the above mentioned  event is connected with Bitmain Company`s purchase of 3% of Opera Ltd in the amount of about $50 million (Bitmain Company is the largest manufacturer of network equipment for mining).

The cryptocurrency browser Brave shows good download dynamics: more than 5 million installations over the past six months. This number can be explained by a good program to attract new users, which was launched by the Brave developers. The browser charges 25 BAT for every 2 months of use. That is, for 1 year, you can accumulate 150 BAT, and for 2 years, 300 BAT. At today’s prices, it costs approximately $25 a year, but BAT is rated as one of the most promising coins of the next bull market. According to various estimates, it will enterTOP-10 and grow by from 30 to 50 times. That means, by using this browser it is possible to get from 1,000 to 2,000 dollars in a couple of years.

11. Conclusion

The cryptocurrency market today is experiencing a downtrend. Market capitalization has decreased by almost 8 times, compared with the peak values ​​of this year. As you can see, the general news background is negative this year. But it is worth noting that along with this, the infrastructure in the industry is actively developing, and new institutional investors are coming to the market. The forecast of the cryptocurrency market is not quite clear, but major experts believe that there are still many ups and falls ahead of us.

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The UN Will Use Blockchain to Develop Healthcare in Africa

The United Nations division, the Office on Drugs and Crime is going to cooperate with the blockchain company doc.com in order to provide free and accessible healthcare and medical services in the Eastern regions of Africa.

Doc.com is a company that specializes In telemedicine and telepsychology. It uses blockchain to let the customers exchange their personal data for tokens, which will open access to various healthcare services.

The company is functioning in over 20 countries with around 130 thousand customers. The United Nations has been researching the ways to use blockchain for humanitarian causes, thus, this collaboration might become the salvation for poor African countries.

We remind you:

The UN Will Cooperate With the IOTA to Increase the Productivity of its Work

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Bithumb Won the Trial in the Case of a Major Crypto Attack

As reported by the Korean subdivision of CoinDesk, a customer of the South Korea-based cryptocurrency exchange Bithumb suffered a tremendous money loss at the end of 2017 due to a hacker attack.

Back in November of 2017, the hacked victim placed 478 million Korean won (426,600 dollars) to his account at Bithumb. Only a couple hours later, an unknown hacker broke into his account, exchanged the money to Ethereum and stole it. As a result, the poor Bithumb user was left only with 11 cents at his account.

In the attempt to bring his funds back, the victim tried to sue Bithumb. However, the exchange management used the Electronic Financial Transactions Act, according to which the exchange is not a financial company, thus, it is not responsible for the hacker attack and money loss. The court found Bithumb innocent.

We remind you:

Bithumb Outruns BitMEX in the Crypto Exchange Battle

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