Two IT staffers at an Australian federal government agency are under scrutiny for allegedly running a “sneaky” cryptocurrency mining operation. The alleged incidents happened on a computer network belonging to Australia’s Bureau of Meteorology — however at press time, it’s unclear if the mining was deliberate or part of an ongoing crypto-jacking scheme. Also see: Dutch Finance… View Article
Archives for March 11, 2018
Bitcoin industry heavyweight Coinbase has announced the introduction of a new index fund which will allow investors to gain weighted exposure to all of the cryptocurrencies trading via their order-book exchange GDAX. The new index fund is initially only open to US accredited investors, but the company reportedly plan to establish a collection of funds… View Article
A crypto hedge fund co-founder argues that while crypto investors are going wild today, the markets will eventually return to real valuations.
Mining cryptocurrency is a huge business. Just last year, Beijing-based crypto-miner Bitmain made over $3 billion dollars in profits. In a novel approach, French startup Qarnot is helping everyday consumers get involved, and the company is doing so by utilizing something that’s usually regarded as a (big) problem for cryptocurrency miners: heat. By harnessing the heat graphics processing units (GPUs) generate while mining, Quarnot’s QC-1 crypto heater keeps users warm and mines cryptocurrency at the same time.
According to Qarnot, the QC-1 takes just ten minutes to set up. It connects online via an Ethernet cable, and owners can monitor its mining progress or activate a heating booster using a companion app. Also of note: the manufacturer doesn’t take a cut of the cryptocurrency the QC-1 mines.
“The heat of your QC-1 is generated by the two graphics cards embedded in the device and mining cryptocurrencies or blockchain transactions: While heating, you create money,” the QC-1 product description reads. “You can watch in real time how crypto markets are trending, on your mobile app and on your QC-1 LEDs.”
The QC-1 crypto heater is a wall-hanging unit that looks like a black radiator adorned with a grill and wooden top. Housed inside are two AMD NITRO+ RADEON RX 580 GPUs. By default, the unit mines Ethereum, but users can direct the device to mine other cryptocurrencies too.
The company estimates their crypto heater can mine an average of $120 worth of the coin per month. The problem is that the rig costs €2,900 ($3,570). Looking at the math, users will have to run the QC-1 all day every day for more than five years before it pays for itself (as per current Ethereum prices).
The QC-1 isn’t the first device of its kind. Russian startup Comino sells two similar mining rigs that double as heaters: the Comino N1, which mines Ethereum, and the Comino N4, which mines Zcash. Both sell for €4,999 ($6,150).
It’s worth remembering that devices like these can only mine cryptocurrencies — they doesn’t include a hard drive or an operating system, so no gaming or emails. And considering that the QC-1 costs almost $3,600, one could theoretically just buy a high-end gaming PC with two comparable cards inside and set them up for cryptocurrency mining.
That said, as a proof of concept the QC-1 is certainly notable. Using excess heat from cryptocurrency mining to provide heat for users is a great idea. Mining generates a tremendous amount of heat and putting it to good use could help make the idea of mining cryptocurrency more approachable to mainstream consumers.
The post Qarnot’s QC-1: Heat Your Home and Passively Mine Cryptocurrency appeared first on NewsBTC.
All crypto miners know that the heat produced by their mining equipment is one of the biggest challenges they need to overcome in order to have problem free mining. The heat is essentially not used for anything and becomes a waste product, though some people manage to find clever uses for heating in the winter for example or other interesting ideas. It has however been a problem for a commercial solution to be available to both mine and properly utilize the excessive heat produced, up until now it seems. A french company called Qarnot is releasing what hey call the first crypto heater, a mining device that also doubles as a heater, so you can make heating a source of revenue and not an expense.
The Qarnot QC-1 is essentially a specially designed mining computer with two video cards and a large passive cooling solution, so it is silent while operating and also doubles as a heater with up to 650W capacity. Not to mention that the whole device looks nothing like a mining computer, it comes with great looking design and even includes some extra useful features. The only problem is what to do when you do not need heating like in the summer for example, well you will need to figure this out as with mining it is not seasonal. Still the company apparently has previous experience with their QH-1 design that combines a heater and a high performance computing server, though a crypto miner makes much more sense.
Qarnot QC-1 Technical Specifications:
– Computing 2 GPU: NITRO+ RADEON RX 580 8G, 60 MHS
– Dimensions: 65×62.5×15 cm
– Power: 650W in total (450W in mining mode + 200 in booster mode)
– Weight: 27 kg
– Materials: Wood, Anodized aluminium
– Noise: 0 dB
– Connections: 110/230V AC, RJ45 Ethernet
– Interfaces: Capacitive touch, Mobile app, Web app
– Communication: Ethernet
– Github: Temperature and LED management
Qarnot are currently taking pre-orders for their mining/heating device and if you book your QC-1 before March 20th it should be delivered before June 20th according to the company… right in time for the summer heat, not for the winter cold. The price of the Qarnot QC-1 is currently 2900 EURO without the shipping and you can pay only with either PayPal or a bank card, no crypto currencies are being accepted.
ShapeShift seems once again not to be mirroring creator Erik Voorhees when it comes to Bitcoin hard forks.
Over the past several days Bitcoin has experienced a large drop in value. The entire market has followed this trend, with Ethereum, Bitcoin Cash, and Ripple all declining by similar margins. Analysts have attributed the recent fall to a massive sell-off of almost 40,000 Bitcoin by a Mt. Gox trustee.
Mt. Gox Sell-off
Tokyo-based cryptocurrency exchange Mt. Gox was formed in 2010, and just four years later was responsible for over 70% of all Bitcoin transactions worldwide. Unfortunately, in 2014 the exchange closed down and filed for bankruptcy following the theft of approximately 850,000 Bitcoin.
The problem today is that creditors are still after the missing money. And it has been reported that Nobuaki Kobayashi, the lawyer and trustee of Mt. Gox, has sold 35,841 Bitcoin and 34,008 Bitcoin cash — worth more than $400 million — over the past few months, starting in September of last year.
Many in the industry have thrown shade at Kobayashi, claiming this influx of Bitcoin contributed to the intense volatility in the market in December and January, as well as more recent pricing downtrends. The Mt. Gox trustee holds still holds about 166,000 Bitcoin — worth more than $1.5 billion at the moment.
This has attracted a lot of attention, but there may be some good news: the next court proceeding for the Mt. Gox bankruptcy isn’t scheduled until September 18th, 2018. It is likely, then, that before that date Kobayashi won’t be able to dump the remaining 166,000 Bitcoin onto the open market. Traders have been watching this case closely, and if this turns out to be true, it could mean good things for Bitcoin’s price.
Details of Kobayashi’s transactions published earlier this week indicate that the mass sell-off was potentially a driving force behind the December 2017 and January 2018 Bitcoin pricing slump. Analysis of the transactions suggests a correlation between the sales and Bitcoin’s bearish price action in late December 2017 and early 2018. The sales seem to have further shaken a market already in a downward trend following regulatory crackdowns, hacked exchanges, and fraud.
When off-loading a large volume of cryptocurrencies, a seller is required to accept lower and lower bids, which in turn causes the price to drop rapidly. Some traders watching the market closely may see this as a signal of an oncoming crash and quickly sell their holdings before it drops even further — a snowball effect can occur and a market can quickly experience a crash.
As noted above, many are hopeful that with the next Mt. Got court date six months away, Kobayashi won’t be able to dump another load of coins on the market. That said, some are hesitant: this Twitter user, a Japanese investor, claims that, in fact, the September 18th court hearing is irrelevant because Kobayashi already has been authorized to sell-off — meaning he doesn’t have to wait to off-load more coins.
Regardless of what actions Kobayashi takes moving forward, hopefully, the future sales will be more transparent and not contribute to FUD and associated Bitcoin market downturns.
The post Bitcoin Price Will Likely Surge as Mt. Gox Sell Off Paused Until September appeared first on NewsBTC.
Ads can be annoying, it’s no secret.
Browsing your favorite corners of the internet can turn into a mildly infuriating experience when the pages are littered with boring, repetitive ads.
To make matters worse, many of these ads are completely irrelevant and even spammy. It’s one thing being bombarded with ads for products you want, quite another when they’re items you simply don’t care about.
It’s hard to get around. Big platforms like Google and Facebook have a lot of power when it comes to ads, and their revenue is growing all the time.
Using these services comes with a price, and the price is that endless stream of ads one comes across on the internet.
But what if it didn’t have to be that way? What if advertisers could work more closely with users and content publishers to make the experience more pleasant for customers and more profitable for themselves?
It could be possible, but it would require a big overhaul of the current system and a new way of sharing data.
First, let’s check out why ads are so annoying now.
Why are ads so annoying?
Digital advertising is all about data. In the U.S. alone, spending on data is forecast to reach $11.4 billion in 2018, with advertising a big driver for this.
Advertising companies are supposed to use your personal data to target you with the ads. In effect, this would result in you seeing ads for products you actually want to buy. Unfortunately, data sharing is a messy area and it doesn’t always go according to plan.
Many companies buy and sell user data, in the form of email lists for example, and the result is users are mixed up and incorrectly targeted. Hence the heaps of irrelevant ads.
Advertisers also find it hard to directly target their customers. Publishers, who produce the content that generates traffic, rarely have a close relationship with advertisers as there aren’t enough platforms that allow this.
The result is that advertisers are unable to rely on genuinely effective types of advertising that involve real dialogue with customers. Instead, they’re forced to just pump out banner ads and hope for the best. The result is annoyed subscribers and poorly performing ads.
The problem stems from centralization. Big companies like Facebook, Google, and YouTube dominate the advertising industry, making it near impossible for advertisers to build relationships with publishers or their subscribers. In fact, 93% of marketers use Facebook advertising regularly.
This makes it much harder to tailor ads for customers and share data effectively. The solution is to move to a more decentralized model — but how?
Using blockchain to decentralize advertising
Blockchain technology is frequently hailed for its ability to build decentralized networks with no central point and no middlemen. This would be a perfect solution to the problems with ads — it allows us to cut out third-party platforms and focus on real relationships.
One Blockchain project is working to disrupt the online advertising world and it’s called Kind Ads.
Kind Ads raised $20 Million in a private round and has recently finished a long process of onboarding publishers and advertisers and want to change the way online advertising works by building a decentralized blockchain platform using its own tokens as currency.
This way, advertisers can transact with content publishers to gain access to their subscriber base. It allows advertisers to communicate more effectively with their potential customers, and target ads in a way that is less annoying and more profitable.
For example, advertisers will be able to shift from randomly generated banner ads to things like push notifications and chatbots, which have been shown to be far more effective at converting leads into customers. They’re also less annoying and much effective.
Customers, meanwhile, will be able to decide who they want to share data with, by selling their data in exchange for Kind Ads tokens. This gives them more control over the advertisers they interact with. They’ll also be able to decide how much activity they want to see and even opt out of lists they don’t want to be in anymore.
This kind of new, smarter system could change digital marketing forever. It’s a more democratic way of advertising, one where advertisers and their targets have more of a relationship. It’ll make the experience of being online more pleasant for users while taking the power from big third parties and returning it to advertisers and content producers.
The people who generate traffic will be rewarded more fairly, and advertisers will be able to pay less to get their message out.
The goal of Kind Ads is to have better suitable and relevant ads for users, more revenue (no middlemen) for the publisher, and zero fees for advertisers.
The post Online Advertising Can Be More Effective and Less Irritating — Here’s How appeared first on NewsBTC.
Bitcoin Cash is gradually trying to maintain its position above $1,000 – at the time of writing, it is valued at 1,068.87. Along with Litecoin and Dash, it is the only cryptocurrency in green in the top 10 list. One certain event can be linked to its increasing price: the Gemini exchange. Winklevoss Twins Considering BCH
The post Bitcoin Cash is Up 5% on the Day in Contrast to Market Retreat appeared first on CCN
The cryptocurrency market has been highly volatile throughout this week, as major cryptocurrencies including bitcoin, Ethereum, Ripple, and Bitcoin Cash have continued to move in between $340 billion and $380 billion. Is Bitcoin Ready to Move? Today, on March 11, the cryptocurrency market recorded a minor recovery after dipping below the $350 billion mark. Briefly,
The post Cryptocurrency Market Stalls at $380 Billion, is Bitcoin Ready to Climb Up? appeared first on CCN