Mining of the Most Promising Altcoin: What Do You Need to Know About Mining Ethereum? 2021

mining cow UFO

The Ethereum project with its technology of “smart contracts” opened up a completely different path for the cryptocurrency industry. The coin quickly occupied the second position in the global rating of Coinmarketcap, so many miners switched from Bitcoin to Ethereum. In this article we will explain how profitable Ethereum mining is, what it takes to start it and how promising the coin is.

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

  1. What do you need to start mining Ethereum?
  2. Cloud Ethereum mining
  3. Forecasts for Ethereum
  4. Conclusion

1. What do you need to start mining Ethereum?

Let’s go over the list of necessary things that are necessary for the miner:

– a powerful video card, but the optimal option will be 4-6 pieces within a single farm;

– a PC or a farm, which already has Windows x64 installed (it is very important that the 64-bit version is installed);

– a monitor or its emulator;

– uninterrupted access to the Internet (not necessarily high-speed, but preferably wired, not WiFi);

– a mining pool, as solo mining is a rather complicated process that requires very powerful equipment;

– a wallet that supports Ethereum.

2. Cloud Ethereum mining

If you are too lazy to get into the technical nuances of mining farms or pay a good commission to people who are engaged in their assembly, then there is a simpler and uncomplicated way for you to mine Ethereum. Cloud mining does not require any extra time from you. Specialized companies that own entire data centers will gladly sell (or lease) you their own computing power. How does it work? You just pay for a certain amount of a hashrate and look at the precious coins that appear on your account.

If we talk about the financial component of the issue, everything is not so unambiguous. On the one hand, buying physical mining equipment for the same money, you will get more power and will be able to get more coins. On the other hand, farms can break down sometimes, they will have to be repaired and serviced. And if you decide to supply a large amount of equipment, you will still need to take care of the electrical wiring and the ventilation system of the room. With cloud-based mining, all these related costs are incurred by the data center.

It would seem that this is an ideal investment solution, but there are pitfalls as well. Firstly, it is rather difficult to find a worthy company that can be trusted. Secondly, long-term earnings will be lower than in physical mining.

3. Forecasts for Ethereum

You need to evaluate the prospects for the most large-scale decentralized platform for creating blockchain-based applications should not be done from the point of view of standard criteria for cryptocurrencies, such as: transaction speed and commission size. The future fate of Ethereum directly depends on the development speed of competitive projects (Cardano, Tezos, etc.)

Ethereum is currently the most demanded coin. This is caused by the ICO boom, more than 95% of which are conducted on the Ethereum platform. Competitors are still very far from the stability that is provided by the “baby” of Vitalik Buterin.

4. Conclusion

Ethereum is currently the most promising altcoin for mining. You can start doing it even with a small farm at home. If you do not want to bother with the installation and maintenance of your own equipment, you can do cloud mining.

Mining such a promising coin as Ethereum should be seen as a long-term investment, since the project has fundamental reasons for growth in the coming years. Therefore, we would not recommend selling mined coins here and now

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Buterin, Winklevoss and Others: The Future of the Digital Currency World According to Major Crypto Personalities 621

experts opinions on crypto

The crypto world has entered the new stage of its development, it has always been volatile, but these couple of weeks have been absolutely crazy: coins are jumping up and down, Bitcoin ETF is on its way, blockchain is taking over the world.

No doubt, crypto specialists and financial experts have a lot to say. Today we came up with a compilation of sayings from the stars of the cryptocurrency universe that we found particularly interesting and important.

The CEO of the crypto exchange Gemini, Tyler Winklevoss believes that the acceptance of cryptocurrency in the world as a means of payment equal to fiat will not happen in the next couple of years:

The vast majority of Wall Street firms are still not participating in the cryptocurrency market, which remains primarily a retail-driven market. This will change over time, but it will take time.

Pantera Capital’s CEO is way more optimistic on this issue. He sees great potential in the blockchain technology, and digital coins, according to him, are “superior form of currency.

Ethereum’s founder Vitalik Buterin wants cryptocurrencies to become more user-friendly and common in the everyday life. He also thinks it may become possible only in case the proper regulatory framework for crypto is developed by the state governments.

I want to be able to walk into a convenience store, get a card and pay a small fee to start using Bitcoin Cash,” he said.

The last, but certainly not least, is the CEO of BitMEX, Arthur Hayes, who has some serious doubts concerning Ethereum. According to his calculations, the price of the world’s #2 coin will drop lower than $100.

It is this moment,” he added, “that Ether goes from a 3-digit to a 2-digit shitcoin.

Although we are sure that experts know what they are talking about, the crypto world is way too unpredictable. We can only wait and see whether the abovementioned predictions turn out to be true or not.

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Vitalik Buterin Published 75 Tweets About Ethereum Casper 591

buterin talks about casper

This morning the founder of Ethereum blew up Twitter. To everybody’s surprise, he posted 75 messages about the Ethereum Casper, its features, the history of creation etc. In case you are unfamiliar with the term, Casper is a proof-of-stake protocol which Ethereum operates on.

Buterin didn’t forget to mention Vlad Zamfir, “the Face of Casper”.

We remind you that Vitalik Buterin has recently criticized Bitcoin ETF, calling it not as important as other pressing issues.

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A Review of the Odyssey Project or How to Transfer the Sharing Economy into Blockchain? 910

According to many experts, in the next couple of decades humanity will switch to the economy of general use (or sharing). This will concern many things that are accepted today (car, real estate, etc.). Within the framework of this article, we will tell you how this, not yet implemented common-use economy can be transferred to the blockchain. So, the review of the Odyssey cryptocurrency.

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

  1. What is the Odyssey cryptocurrency?
  2. Odyssey in figures
  3. Forecasts
  4. Conclusion

1. What is the Odyssey cryptocurrency?

The main mission of the project is to combat the centralized sharing economy. In the near future, as the developers themselves assure, joint use will be quite ordinary, and personal possession, on the contrary, will become an unacceptable luxury. That is, within the framework of this economic model, You will not personally have anything, but You will be able to use what you want. Such an approach should lead mankind away from the consumer society and substantially raise the overall level of well-being.

This project comes from Singapore; its main idea is the creation of a decentralized version of the economy of the future, which will be oriented towards the common use of various things. The developers want to significantly reduce costs and increase the efficiency of marketplace applications, as well as create their own Odyssey system.

The main consultant of the project is the general director of TRON Justin Sun. Major Odyssey investors are:

  • Eddie Wu, Alibaba’s co-founder;
  • investment trust Vision Plus Capital;
  • TRON Foundation, etc.

The main principles of Odyssey:

  • everything can be combined and shared;
  • everyone has the right to possess information;
  • all participants in the system can count on income, which will depend on their initial contribution;
  • there should not be a monopoly in the sharing economy;
  • the new economic model will be effective only if it becomes autonomous.

Summarizing, we can say that the Odyssey system is a kind of marketplace for sharing, based on blockchain technology.

2. Odyssey in figures

This coin appeared relatively recently, only in early 2018. If you look at the chart, you can see that Odyssey’s currency exchange rate has significantly decreased from $0.09 to today’s $0.003.

The total issue is 10 billion tokens, now 4.75 billion are issued. Market capitalization as of mid-August 2018 is slightly more than $17 million. The coin takes the 244th place in the global rating of CoinMarketCap.

3. Forecasts

The Odyssey (ocn) cryptocurrency is now showing a negative yield, it is, to a large extent, related to the general trend in the market. It is rather difficult to predict the price of cryptocurrency in such conditions. Nevertheless, this project is potentially promising for the following reasons:

  • developers follow the schedule written in the project road map;
  • in the future, it is planned to create its own stock exchange;
  • the team actively works on the project, periodically consults the community through polls, voting, etc .;
  • the Odyssey project is closely connected with TRON, which ranks 12th in the rating of all cryptocoins;
  • economy of common use is the vector where the movement of mankind has already begun.

4. Conclusion

If you plan to invest in Odyssey, you should count on a long time, because the project is still too young and for its development there is still a lot to do. The sharing economy is also not tomorrow and not even in a year will become the norm, so that the global Xs in the near future should not be waited for. Also do not forget about diversification of your investment portfolio, this will significantly reduce the risks of a complete loss of capital. The Coin Shark continues to monitor the news of the cryptocurrencies and look for new promising projects.

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Algorithm of Action for Victims of Scam ICO 1226

scam ico

The market for initial placement of coins is saturated with fraudulent projects, which initially promise to “change the world”, but after receiving funding, they stop being in touch. There are, of course, those which simply are not able to fulfill their obligations, and the product for which the investors’ money was spent is not necessary for anyone. Some particularly brazen scammers removing their site, leave on it not quite censorship messages, as it was with the Lithuanian startup, which wanted to “bring the blockchain” into the vegetable and fruit industry.

In this article, we’ll talk about what you need to do in order to get your money back if you have already invested it in a fraudulent ICO.

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

  1. Is it real to return your money if you’ve invested in a scam ICO?
  2. What to do in the beginning? Collect evidence
  3. Who to sue?
  4. What do you need to know about the court?
  5. Conclusion

1. Is it real to return your money if you’ve invested in a scam ICO?

As practice shows, surely, there have been similar precedents in history, but to a greater extent they concern only the United States and Canada. For example, in 2017 on the initiative of the SEC, the founders of the scam project Munchen returned 15 million dollars to their depositors. Another example, the organizer of the cryptostart PlexCoin Dominic Lacroix was arrested, sentenced to 8 weeks of imprisonment, and fined personally for 10 thousand, and his company for 100 thousand dollars.

The Securities Commission is actively working in this field, but, unfortunately, outside of North America it is not yet particularly developed. For example, in the CIS countries no ICO scammers have been caught yet. But, despite this, there is still a chance to get your money back. Please read this material to know what to do in such an unpleasant situation.

2. What to do in the beginning? Collect evidence

So, unfortunately, you have already realized that you gave your money to criminals, what should you do? To begin with, you need to collect as much evidence as possible:

  • screenshots of correspondence in Telegram or other messengers;
  • copies of e-mails;
  • white paper and road map of the project.

If you personally talked on the phone with the organizers of the ICO, then you need to contact the provider to give you a printout of your calls. If you have a personal contact in offline, you must specify the place, date and time of the meeting. If this happened in a public place, it is likely that the fraudster’s face has got into the surveillance cameras.

3. Who to sue?

The overwhelming number of ICO projects has a similar structure. Often, in order to start the production and sale of digital tokens, the organizers register a special issuing company. As a rule, they are created in the Seychelles or the Cayman Islands or in Estonia and Singapore. Unfortunately, finding out data about an issuing company is a rather difficult task. The only place where you can find out which legal body is in charge of this project is an agreement to sell tokens or Token Sale Agreement.

But, it is worth noting that a registered issuing company cannot conduct operational activities, and it is even more complicated to find any information about who conducts it than about an issuing company. Of course, you can try to look for tracks through the project team, but if the organizers of the ICO have created a scam from the very beginning, then they hardly indicated their real names there. Most likely, charges will have to be raised against the issuing company.

4. What do you need to know about the court?

The good news for victims of fraudulent ICO is that there are virtually no “loopholes” in the world where financial criminals can remain in the shadows. Banks from different countries of the world cooperate with each other and transmit information about the movement of money; therefore, to hide a large amount of stolen money every year becomes more difficult.

The bad news is that defrauded investors can demand financial compensation only through local courts of the countries in which the issuing company is registered. Litigation is not a cheap pleasure:

  • Estonia – 7-8 thousand euros;
  • The Cayman Islands – 30-50 thousand dollars;
  • Singapore – 80-130 thousand dollars.

These figures do not include government fees and other related costs. In order for “battle to worth the blood,” the amount of lost funds must significantly exceed the costs associated with the court. An alternative way to save money in this matter is to file a collective claim. For this it is necessary to collect in one place a certain number of the same deceived investors and to divide the costs equally.

5. Conclusion

There are a lot of scam projects on the ICO market, so it’s quite difficult for an investor who is starting not to get bogged down by criminals. But even if you have become a victim of swindlers, albeit low, but still there are the chances of getting your investments back. It is necessary to adjust to a lengthy lawsuit, which will also require financial injections from your side.

How to Spot a SCAM?

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How to Remove Scammers from the ICO Market? Review of ILP Funding 1020

ilp as a solution of scamming

The ICO market is developing by leaps and bounds. If for the whole of 2017 all start-ups attracted a little more than $3 billion, then just for 5 months of 2018 this figure reached 13.7 billion. This method of collecting investment is fairly simple and very convenient for all parties. But it has a downside: the fact is that along with honest teams in the market there are a lot of scammers who simply take money from trusting investors. An unprofessional investor has a much higher probability of getting trapped than getting a profit. The ICO market does not have any administrative control, regulatory rules and verification. In this article we will talk about one of the options for solving this problem, namely ILP funding.

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

  1. What is ILP?
  2. The main advantages of ILP
  3. Forecasts for ILP
  4. Conclusion

1. What is ILP?

This alternative to IPO in the crypto world (and not only) was first proposed by the international company Tokenote. The abbreviation ILP stands for Initial Loan Procurement. To eradicate fraudulent schemes, all participants (both borrowers and creditors) undergo a procedure for verifying the identity through a digital ID. Only after this the borrower can create smart contracts, and creditors (investors) make investments. Directly crowdfunding takes place on the Blockhive platform, where internal currency is the HIVE token. The main idea of ​​the developers is the modernization of the ICO market and the elimination of its main shortcomings.

2. The main advantages of ILP

  • Combining the simplicity of the ICO and the legal responsibility of the parties. Clever contracts in this concept are signed by means of a digital signature, so they have legal force, and then they are stored in the blockchain.
  • All procedures meet the necessary requirements of international law, therefore ILP provides for prevention of money laundering schemes. This is achieved through verification and authentication of all participants in the process.
  • One of the main differences between ILP and ICO is the lack of funding based on tokens. The fact is that within the ICO, start-ups, in pursuit of initial investments, can release an unlimited number of tokens, creating a glut in the market. In ILP, there are loans, not tokens, so the problem of inflation is solved by itself.
  • Due to the fact that investments are fixed in the legal field under the guise of loans, they cannot be taxed. This is a huge plus, as in our time in many countries there are quite impressive taxes on the cryptocurrency.
  • Within ILP, investments are protected from speculative schemes, as investors derive their profits from the company’s real revenues, rather than from the artificial increase in the price of tokens.
  • ILP funding need not necessarily be related to cryptocurrencies, this method of attracting investments is much more universal than ICO (private companies, government structures, etc.).

3. Forecasts for the development of ILP

This method of issuing digital credits can potentially have a great future, since ILP is as simple as ICO, but it has a much greater range of functions, and is also in the legal field. For this reason, ILP is unlikely to be prohibited even in such countries as China, where the ICO is banned.

4. Conclusion

The ICO market is certainly one of the most highly profitable investment instruments in our time, but due to the lack of regulation, there are a lot of scammers here. A novice investor has virtually no chance of succeeding in this field. ILP is one of the solutions to the problem of fraudulent schemes in this area.

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Top Books About Blockchain and Cryptocurrency Which Are Worth Reading 2964

top crypto books

Cryptocurrency and blockchain became so popular that people started writing books about them, and if more than 1,000 books on this topic have already been written in the West, then in the CIS countries people came to this only in early 2017. Such literature makes it possible to more clearly understand all the nuances, positive and negative aspects of the blockchain technology. Below we compiled a selection of the best books about digital currency that will help you get all the knowledge you need about the crypto world.

1. “Bitcoin for Dummies” – Williams, 2017.

This book will tell you in detail about all the subtleties of working with digital currency, the authors touch absolutely all vital aspects of the blockchain. Having studied the stated information, you will get knowledge about the nature and formation of bitcoin. One of the main advantages is that it describes all the risks that keep up with the cryptocurrency. The author focuses attention on cyber security. Having studied the stated information, you will master the system of blockchain’s work, you will be able to protect yourself from cyber scammers and correctly implement the cryptocurrency at the exchange.

2. “Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money”- Nathaniel Popper, Williams, 2016.

Nathaniel Popper, together with Williams, wrote an amazing and most truthful story about the emergence and implementation of bitcoin in the general turnover, as well as those individuals in its history who hindered and helped it. The story goes on behalf of different people: Satoshi Nakamoto, the brothers Winklevoss, various millionaires and bankers. An important component of the book is the analysis of the reasons for which the blockchain entered the general circulation.

3. “Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World”- Don Tapscott, Alex Tapscott, 2017.

The book narrates about the cryptocurrency as a means of business breakthrough. It can be divided into two parts: in the first there is a story about the system of work of the blockchain, its strengths and weaknesses, and also there is an analysis of all those pressing financial problems that can be solved with the help of blockchain. In the second part there is interesting information that sheds light on the causes of the blockchain’s impact on the global and the involvement of more and more investments in digital currencies.

4. “Bitcoin – the people’s money” – Adam Tepper, 2016.

The author of the book is Adam Tepper, a general director of several companies, a successful programmer in the past. In his book he described the importance of bitcoin as a universal financial means. Bitcoin in this book is described as an object of universal attention, as the engine of the financial market. The book pays much attention to investments in crypto assets. The author claims that it is necessary now to invest in digital currencies, since in the near future their price will grow, and all thanks to their introduction into the overall turnover.

5. “Mastering Bitcoin” – Andreas Antonopoulos, 2017.

The author of the book is Andreas Antonopoulos – the founder of bitcoin business in London and the director of several start-ups, a former software engineer. The book describes all the details of digital coins, predicts the development of cryptocurrencies, their introduction into the global financial market and regulation by different countries. The book is divided into 2 parts: the first is aimed at inexperienced people in the crypto world, the second – at investors and people who want to start their business using the cryptocurrency. It should be noted that this book is perfect for students of economic universities that study

digital currencies.

6. “Blockchain: Blueprint for a New Economy” – Melanie Swan, 2017.

The book tells about the nature of blockchain technology. The first part is devoted to beginners and will help them familiarize themselves with the principles of the registry, according to the author this is the main stage before studying bitcoin. The second part is devoted to the indivisibility of the blockchain and bitcoin. The author claims that today’s work of the blockchain will be transformed into something else in the future.

 

7. “The Internet of money” – Andreas Antonopoulos, 2018.

This book was written by Andreas Antonopoulos after the publication of her previous book “Mastering Bitcoin”. In general, these books are similar in content, but if in the first book the main question was “How?”, then in the second it is “Why?”. The process of the formation of the cryptocurrency as a financial engine and the potential for its development are described in detail. The main idea of the book: “The Internet is not a phone, bitcoin is not money.”

8. “The Age of Cryptocurrency: How Bitcoin and the Blockchain Are Challenging the Global Economic Order” – Paul Vigna, Michael Casey, Mann, Ivanov and Ferber, 2017.

The book is telling about the influence of news and imaginary panics on the course of digital currencies, about their influence upon international economic market. The book also contains research of the blockchain’s importance in modern realities: how it was created, its functions and what to do in order to join the new world of economy.

Conclusion

So, we’ve finished our list of top-10 literature about bitcoin. Having read at least a half of these books, you will come to know all the particulars of cryptocurrencies and blockchain technology. The information, stated in these books, is an invaluable source of knowledge for any beginner in the crypto world, however even an experienced user will find here something new and unusual.

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