Samsung Starts Producing Chips For ASIC-miners

South Korean behemoth Samsung started producing their own  ASIC-chips for Bitcoin and other cryptocurrencies mining.

High-tech elements producer finished the development of their own ASIC-chip last year.This month they have launched high-volume output of the chip.

CNN reports with reference to local media about ASIC-chips’s shipments to a chinese company,majoring in the production of the Bitcoin mining equipment. The company’s target market is China.However, it is also planning to enter other asian markets in the future.

“We are in the middle of a foundry business that is being supplied to a virtual money mining company in China,” a Samsung spokesperson confirmed to a Seoul-based media outlet, adding that the company was unsure how profitable the venture would prove to be.

For now taiwan company TSMC is the only important competitor for Samsung, among other semiconductor producers. This company cooperates with Bitcoin mining equipment producer – Bitmain. According to DigiTimes report,  90% of TSMC capacities are used for producing chips for Bitmain during an off-peak season.

There are reports saying that in the coming months Samsung is planning to produce GPU-miners for some other altcoins.

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New Trend: Why Companies Replacing the Term “Blockchain” to “DLT”

Due to harmful hype to innovative chain of transaction blocks, some companies use “DLT” instead of “Blockchain”, which stands for Distributed Ledger Technology.

The term replacing begins with that some organisations, in their advertising and informational campaigns, decided to change the word “Blockchain” to “DLT”. Such a move connected with the hype about the blockchain technology. Therefore the companies, in order to take some of the negative from them,went on that kind of cunning. In this regard, an independent analytical company Forrester Research has made their own investigation.

Company analytics point out, that “Blockchain” is a trend-word of crypto industry, which many crypto projects abused. The word is used even when the technology isn’t used in the product. The usage of “Blockchain” for the hype invalidate the technology itself.  Since, the blockchain in general is associated with cryptocurrency, when the company which are not related to the world of cryptocurrency, decided to go away from the naming technology and started to use the word “DLT” , in order not to associate their activity with the digital money.

Meanwhile, the word “Blockchain” overtakes the word “Cryptocurrency” by frequency of requests in the world search, according to the Google Trends.

Source:Google Trends

We want to remind you:

The Number of Searches for “Bitcoin” in Google Has Skyrocketed

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Vinny Lingham is Clear About Bitcoin: “I don’t think we see $20k for a while”

Significant part of crypto community, still cannot recover from the fall of the cryptocurrency, the rate of which is still in a red zone. According to the CoinMarketCap, Bitcoin, at the moment of writing the article, is set on at $3 747 per coin and still falling.

But some representatives of crypto community have their own view about the situation on the market and predict their own price of Bitcoin.

Vinny Lingham, an Internet entrepreneur, Co-founder and CEO of Civic, has answered to a few question of The Coin Shark, to clarify the situation on the market:

Hello, Vinny. What do you think, will Bitcoin be able to overcome the $20 thousand mark next year?

I took a $20k bet with Ronnie Moas in Vegas, last month. He predicted $28k by EOY 2019. I disagreed. I don’t think we see $20k for a while, at the very least 2020, but possibly even 2021.

In your opinion, what is the problem with cryptocurrency at the moment?

There is too much hype, and not enough substance, as well as too much focus on the technology and not enough focus on the business or consumer value add.

Can Ethereum become the leader in 2019?

It is possible, but unlikely unless they can fix the scaling issues and deal with the lack of consensus within their community.

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Seven EU Member States United To Adopt Blockchain In Their Countries

Several European countries, namely France, Spain, Portugal, Italy, Cyprus, Greece and Malta, signed an agreement to promote and boost blockchain adoption in their regions. They argue the blockchain technology is able to strengthen their economics, as well as increase well-being of the population.

The declaration, signed on December 4, also anticipates collaboration on development of the technology, so that countries listed above become leading regions in this sector.

“We believe that Distributed Ledger Technologies could be one of the instruments that can help our countries [the Southern European Union countries] transform their economies and society into truly digital ones and become a leading region in this sector.”

From their point of view, blockchain may be used in different spheres, such as certifying product origin, education, transport, mobility, shipping, land registry, customs, company registry, and healthcare.

Malta’s parliamentary secretary for digital economy, Silvio Schembri, was extremely excited by this news, tweeting that he is “proud” to see Malta being a “leading role” on blockchain cooperation.

We remind you:

A New Blockchain Association To Be Launched By The European Commission

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Is Bitmain Really Dying, or How Much Money Was Lost in 2018?

The year 2018, especially its second part, has not been particularly simple for the crypto giant Bitmain. After the unsuccessful IPO, there came Bitcoin Cash hash wars which also negatively influenced the earnings of Bitmain.

According to the data provided by a crypto enthusiast on Twitter, the company might have suffered around $740 million losses in Q3 of 2018, making it the worst quarter in the history of Bitmain.

Other specialists are quite sure that the numbers could be even higher. The epic with Bitcoin Cash, low amount of customers, the crypto market price collapse exhausted Bitmain. Will it be able to recover? We’ll have to wait and see.

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BTC, BCH and BSV: Which Coin Is the Most Profitable for Miners?

Here comes the biggest irony of the last couple of months. As we all know by now, Bitcoin Cash hardforked, forming two new coins: Bitcoin Cash ABC (BCH) and Bitcoin Cash SV (BSV). The developers of BSV claimed very loudly that their coin would be so miner-friendly, that its competitors would not be able to survive. What happened in reality?


Source: Coin Dance

As we can see from the research made by Coin Dance, if BTC is taken as a cryptocurrency to compare the profitability of mining, BSV falls behind drastically. Meanwhile, among the three Bitcoin variations, the world’s first cryptocurrency remains the most beneficial for miners.

We remind you:

Bitcoin Cash Hash Wars: Who Really Won?

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How to Explain to Your Grandparents in 10 Minutes What is Bitcoin?

The older generation often perceive innovations as something supernatural and incredulous refer about them. But, what should you do, if you need to explain to your grandparents what is bitcoin, despite the fact they are afraid of picking up a mobile phone? 🙂
Of course we exaggerate! But since, the cryptocurrency little by little captures the world finance market, bursting into the life of those, who aren’t interested in it – your grandparents should be prepared.

For this The Coin Shark had developed a strategy, which will help you to explain what is Bitcoin in 10 minutes. During the experiment, none of the grandparents didn’t refuse to descend the legacy to their grandchildren 🙂

Stage #1: “Bitcoin – is like a paper money, but not made of paper”

Remember, never try to explain to older generation about the innovations on the developers slang. We recommend you to draw an analogy with the things which are more understandable for them.

It is better to compare Bitcoin with the ordinary money. Explain them, that it has the same value as the paper money, in which they receive the allowance. You can also buy goods and pay for services by using Bitcoin.

Do not forget to specify that the cryptocurrency are not made of paper, but encrypted by computer code. The ordinary money which we receive we can touch but the digital – not. Because they are stored on the computer, while the ordinary money in the wallet.

As far back as you can go that cryptocurrency is based on cryptographic methods, its management is decentralized and it works on the blockchain technology – your grandparents may think that you are possessed by a demon. All this stuff are clear only to our crypto space.

Stage #2: “Miners – are gold miners”

After the first stage is complete, it is logically that your grandparents will ask you – “how to get them?”

The old and proven method of the analogy also works here. We all know that we earn Bitcoin by mining. We associate it with a gold mining. And we clarify that while mining the cryptocurrency hoes,picks are not used, but a computer.

If you see understanding in the eyes of your beloved grandparents, than you can add, that Bitcoin can be bought on the internet. Specify, where and how is not necessary.

Stage #3: “Spend Bitcoin in the specialized store”

Before telling to your grandparents, where they can buy products by bitcoin, they need to know, that it has its own rate as well as the dollar. Except the rate depends on demand. Prepare sedative, because once they know the price for one BTC they will be very surprised. Only we are complaining here, that “Bitcoin is dying” , and it will be shock for them, that only one coin can cost 4 thousand dollars. I guess you realise that you should keep silence about the rate of 20 thousand dollars.

Now you can tell them : “Since Bitcoin – is unusual money, they are spent only in the special stores”.
Good job, the grandparents are ready! Now they can tell to their friends about Bitcoin. And if they are not afraid of computer, and they were interested in your story, than in the “For Beginners” section, they may find more about the cryptocurrency #1.   

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