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Grayscale To Move Billions In Bitcoin, Ripple’s XRP, Ethereum, And Litecoin To Coinbase In One Of The Largest Ever Crypto Transfers

Bitcoin and cryptocurrency asset manager Grayscale Investments is today planning to move billions of dollars worth of holdings to U.S. crypto wallet provider and trading platform Coinbase in what could be one of the largest single day transfers of bitcoin and crypto assets ever.

Grayscale, which claims to be the world’s largest bitcoin and digital currency asset manager, is today announcing Coinbase Custody will serve as custodian of the underlying assets for its products, and is expected to transfer nearly $3 billion of assets in fewer than 12 hours to Coinbase.

Coinbase Custody, which is operated as a standalone, independently-capitalized business to Coinbase, will now will oversee Grayscale’s cryptocurrency holdings, including bitcoin, bitcoin cash, ethereum, litecoin, and Ripple’s XRP, among other major tokens, as well as Grayscale’s publicly quoted cryptocurrency trusts and its Grayscale Digital Large Cap Fund, which provides exposure to bitcoin and crypto through a market cap-weighted portfolio.

“Grayscale and Coinbase have led the way in providing safe, secure, trustworthy, and regulated access to digital assets. Grayscale is an established, trusted, and valuable partner to its clients and its service providers should be the same,” said Sam McIngvale, Coinbase Custody chief executive.

“As a NY State-chartered trust company, Coinbase Custody is held to the same fiduciary standards as national banks. We also offer some of the broadest and deepest insurance coverage in the crypto industry.”

The move comes as bitcoin and cryptocurrency investors nervously look for signs of how global regulators will react to Facebook’s plans to launch its own cryptocurrency sometime next year, dubbed libra.

Expectations that some of Silicon Valley’s biggest companies, including iPhone-maker Apple and micro-blogging platform Twitter, are increasingly looking to bitcoin and cryptocurrencies as a potential source of revenue has been largely responsible for the rise in the bitcoin price so far this year.

Earlier this month, the New York-based Grayscale reported assets under management of $2.7 billion, an all-time high for the company and up three-fold on the previous quarter.

Last month, Coinbase, the largest U.S. cryptocurrency exchange and wallet service, boasted it has signed up 30 million users since launching in 2012, with eight million new users added over the last 12 months.

Meanwhile, Grayscale last week found that more than a third (36%) of U.S. investors would consider buying bitcoin, representing a potential market of more than 21 million investors.

“Since its introduction in 2009, bitcoin has steadily grown in popularity and today has expanded its reach to a broad mainstream audience,” Grayscale reported.

“Investors are constantly looking for new ways to diversify their portfolios as traditional assets and markets have begun to move more closely in sync with one another.”

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I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk I reported on how technology is changing business, political trends, and the latest culture and lifestyle. I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others. Follow me on Twitter @billybambrough or email me on billyATbillybambrough.com. Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.

Source: Grayscale To Move Billions In Bitcoin, Ripple’s XRP, Ethereum, And Litecoin To Coinbase In One Of The Largest Ever Crypto Transfers

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MegaMining The Next Generation To Home Crypto Business

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Mega Mining is an industry leading Bitcoin mining pool. All of the mining power is backed up by physical miners. Mining with the latest algorithms allows to make as much Bitcoin as possible. We aim to provide you with the easiest possible way to make money without having to do any of the hard stuff. With data centers around the globe, we aim to keep bills down and mining power high, meaning you can make more in a shorter amount of time than what it would take to mine from your home for instance. Our data centers are located in USA, Europe and China with dedicated Up-Links and 99% uptime!

We at Mega Mining aims to be the world’s leader in cloud mining by utilizing the most dynamic Mining Pools and focusing on the best paying cryptocurrencies. We believe that Cryptocurrencies are the future of financial system, which will transform the global payment system by providing faster, and safer transaction. Therefore we have set up Crypto Mining Facilities, which is the essential infrastructure for cryptocurrencies to function seamlessly.

You can also Upgrade Mega Mining to increase affiliate rate up to 100%.

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We are a group of experienced professionals in software development, industrial designing, server engineering, and data analysis with a passion for excellence that believes in the power of the team, integrity, and leadership.

Source: http://www.megamining.website

 

 

 

Guide To Different Methods Of Cryptocurrency Mining | UseTheBitcoin

For years, mining cryptocurrencies has proven to be a fairly successful business venture, even with the large number of people who currently engage in some form of the mining activity. Many of them made a fortune, but experts and experienced miners warn us that those times are behind us, especially when it comes to the well-known crypto coins such as Bitcoin, Bitcoin Cash, Ethereum, etc.

In this guide, we will discuss the main aspects you need to keep in mind when deciding whether mining crypto coins should be your next business venture. We shall also go through the required steps and explore a couple of cool, mining-related facts.

What is Cryptocurrency Mining?

Unlike traditional, fiat currencies, most cryptocurrencies are not issued nor controlled by a central authority. Furthermore, there are no middleman checking and approving/rejecting crypto transactions.

By contrast, transactions are performed directly between two parties, the sender and receiver, on a blockchain-powered network. If you want to send your friend 1 Bitcoin, for example, all you need is her Bitcoin address, a Bitcoin wallet where your bitcoins are stored, and an internet connection.

As soon as you initiate the transfer, it will be registered on the bitcoin network. Before your friend can receive 1 Bitcoin, nodes on the network that run it need to verify your transaction.

After three verifications, your friend will be able to use Bitcoin that you sent her.

This process is known as crypto mining.

Is Mining Digital Currencies Still Worth It?

“Why would I want to participate in mining cryptocurrencies?” you might ask. If you opt to mine Bitcoin, and you are the first one to verify a block of data (block = bundle of transactions on the network), you will be rewarded with 12.5 bitcoins. As of the mid-May, 2019, that amounts to around $91,500.

Isn’t this amount more than worth it? The answer to this question is complex because there are numerous factors that play a role in determining the profitability of mining.

If you plan to mine as a hobby without investing in expensive hardware equipment or renting high-powered cloud mining services, then it could be a fun experience but with little to no profitability.

To put things better into perspective, you will need to consider the type of mining protocol your desired currency is using and type of mining machine to utilize. Not every currency can be mined with a specific type of mining machine.

Mining Machines

There are three main sorts of mining machines – CPU, GPU, and ASIC. We have sorted them according to their availability and price.

CPU Mining

CPU (Central Processing Unit) is basically a regular, home computer designed for ordinary use. Because of its weak processing power (compared to other machines we will discuss in this section), it is possible to successfully mine with it less known or new crypto coins where competition is not stiff.

If you wish to use this type of machine, check first whether the desired cryptocurrency uses CryptoNight or Scrypt mining algorithm. If it doesn’t, you are not going to be able to mine it.

Some of the top cryptocurrencies using these algorithms include Monero, Dogecoin, and Litecoin. Note, however, that you need to buy a serious CPU computer if you want to earn some profits when it comes to these currencies.

The thing is, you are competing against hundreds of thousands of other miners, most of which use exceptionally equipped machines, so you need to follow suit.

GPU Mining

Another way to join the mining business is to get a GPU-based mining machine. As you can probably guess, just like with the gaming, the best GPU options here are Nvidia and AMD Radeon cards.

So what can you mine with GPU? A lot of currencies that can be mined with CPU can also be mined with GPU. More precisely, you will earn more if you utilize the latter. But first, you need to ensure that cryptos you consider to mine use Scrypt, X11, or Dagger algorithm, among others.

Some of the most popular currencies you can mine with these devices are Ethereum and Ethereum Classic, both being among the top 20 cryptos.

ASIC Mining

In the beginning, you were able to mine Bitcoin with regular, CPU computer. It didn’t take long before Bitcoin community decided to switch to GPU, and then to special machines built for mining only (unlike GPUs that could be still utilized for gaming, for example).

Nowadays, if you want to mine Bitcoin, you will need to invest at least around $1,000 into buying the latest mining machine called ASIC (Application-Specific Integrated Circuit). Note, however, that even in this case, you cannot expect significant profits unless you join a mining pool.

Antminer S17 Pro-53 TH/s by Bitmain, currently one of the best ASIC miners in the world. It costs $2,030. Image Source: Bitmain

Simply said, a mining pool is a place where miners from all over the world join forces (mining machines) in order to stand a better chance at mining the next Bitcoin block, for example. If they are successful, they will split rewards in accordance with the contributed hash power (essentially, the mining power of a mining machine).

In any case, the most popular use of ASIC is, unsurprisingly, SHA-256 algorithm that BItcoin and Bitcoin Cash are based on.

How Profitable is Cryptocurrency Mining Nowadays?

We will be honest here — significant profit only appears when a significant amount of money is invested in the business. Research has shown that an investment of roughly $5,000 in hardware equipment is required to break even and earn a daily profit.

Yet, as we already outlined, this alone isn’t guaranteed to help you earn a lot, since other factors apart from the competition, like electricity cost, hardware efficiency and quality, and taxes play an important role in determining the potential ROI.

Therefore, it is important to create reasonable expectations regarding what you want to do with your mining gig. Everyone has heard stories of Bitcoin miners becoming millionaires, but those people made the right investments at the right time.

Long gone are the days when Bitcoin was worth less than $100 and when the mining difficulty allowed earning more than 1 BTC on a daily basis.

Just like trading or holding digital currencies, mining is a venture that’s prone to volatility, expressed in the shifting value of coins, hardware equipment, and electricity. For many, taking the capital and investing it in trading or holding digital currencies is a much safer bet.

Choosing Your Mining Method

At this time, there are two most popular methods of mining cryptocurrencies.

Cloud Mining

This is certainly the easiest way to get started, granted that the process entails users to set-up an account with a cloud mining company in order to rent mining hardware. In exchange for the firm’s processing power, you’ll be paying for equipment maintenance, electricity, and a commission, yet all of the coins that have been mined using your portion of the hash power belong to you.

Cloud mining companies usually offer mining packages with a set amount of hash power, so look through the offers to figure out what you can afford.

This method is appreciated in the industry because it is not time-consuming, does not require users to be tech-savvy, and offers added flexibility bonuses. You’ll find that there are numerous cloud mining firms, so make sure to do your due diligence to learn as much as possible about each of them, their services, commissions, and terms.

We should warn you, however, that cloud mining could be tricky business. You need to be careful when picking a company and study its terms and condition, especially the part explaining funds withdrawal policy.

Note that there were incidents in the past when companies refused to pay their users when Bitcoin’s price suddenly collapsed. Therefore, you need to be aware of the general crypto market as well, and closely follow social media channels and posts by your chosen company.

Hardware Mining

Hardware mining means that you have purchased and maintain your own mining hardware at home. It’s for people who are rather tech-savvy or have access to cheap electricity.

Before anything else, it is important to mention that the investment needed to break even and earn a profit is significantly higher for hardware mining when compared to cloud mining. The time investment is also bound to be bigger, so keep this in mind. You also need access to cheap, reliable electricity, otherwise, the costs could skyrocket.

If you decide to go through with hardware mining and mine a crypto coin with clogged mining network, you will need to purchase an ASIC miner that we mentioned above, or at least a solid GPU device.

At this time, the market is filled with offers from different companies, so make sure you study each option carefully before buying any machines. ASICs, for example, are pretty much expensive, so you want to be sure you’ve made the right choice.

When carrying out your research, keep in mind the hash power you’ll be mining with, and use mining profitability calculators to get a better idea of your expected profits. Depending on your country of residence and electricity costs, with one ASIC miner, you could earn between $10-$30 daily should you opt for mining Bitcoin.

Once your machine has been ordered and set up, you’ll need to download the blockchain associated with the coin you’re mining and install the required software.

Just like with the cloud mining, you have the option of either mining for yourself or joining a mining pool. Solo mining is only bound to be profitable if your machine is powerful enough to mine blocks on its own (which is, as we already noted, quite a difficult feat for the well-known cryptocurrencies).

This is the primary reason why so many hardware miners eventually decide to join a pool to increase their ROI.

Transaction Fee Mining

We should mention another, less popular way of mining cryptocurrencies, which does not involve mining machines nor cloud leasing. In fact, it does not involve anything on your side.

Well established crypto exchanges take a small fee when you buy or sell cryptocurrencies on their platforms. This is how they make money. However, some exchanges will reimburse these fees by offering you their own tokens as a reward and invitation to continue doing your business on their services.

This practice is considered dubious, to say the least, and could even land you in hot water in some countries. Our advice is to stay away from such places, especially if you are not an experienced trader or miner.

Cryptocurrency Mining Conclusion

Based on everything that has been outlined so far, it is safe to say that mining cryptocurrencies could still be a great way to earn some profit if you can overcome the initial high costs.

Getting involved in this industry represents a great service to the market of whichever coin you’re mining, granted that mining is essential for verifying and bundling up transactions in blocks, but also for minting new coins.

Lastly, a higher number of miners results in larger decentralization, which is an essential feature of modern cryptocurrencies.

That said, not only will you potentially earn a passive income, but you would also contribute to the overall cryptocurrency ecosystem.

Many thanks for the good people at SaaSicorn for helping with this post.
Image Source: Avesta.io

Source: Guide To Different Methods Of Cryptocurrency Mining | UseTheBitcoin

The Technology That Brings BitBase To Its Booming Grade of Mining In United Kingdom

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The Internet of Things, robotics and plasma are transforming mining into a safer and more productive industry. BitBase Mining-technology.com picks ten technologies with the potential to transform mining.

Mining is painstaking, expensive, and only sporadically rewarding. Nonetheless, mining has a magnetic draw for many investors interested in cryptocurrency. This may be because entrepreneurial types see mining as pennies from heaven, like California gold prospectors in 1849. And if you are technologically inclined, why not do it?

In addition to lining the pockets of BitBase miners, mining serves a second and vital purpose: It is the only way to release new cryptocurrency into circulation. In other words, BitBase miners are basically “minting” currency. For example, in February of 2019, there were a little over 17.5 million Bitcoin in circulation. Aside from the coins minted via the genesis block (the very first block created by Bitcoin founder Satoshi Nakamoto himself), every single one of those Bitcoin came into being because of miners. In the absence of miners, Bitcoin would still exist and be usable, but there would never be any additional Bitcoin.

Aside from the short-term Bitcoin payoff, being a BitBase miner can give you “voting” power when changes are proposed in the Bitcoin protocol. In other words, a successful miner has an influence on the decision-making process on such matters.

BitBase does cloud mining through its mining farms with advance technology and hashing algorithms and also allows free mining with the earning rate of 0.00000100BTC/min. There are premium plans for faster and better mining. Starting with BitBase requires a bitcoin address where we can send your earned btc. By adding your BTC address in the start mining box & you automatically start mining with free GHS.Withdrawing is easy just you need to have 0.00500000BTC to qualify. Yes, there is maintenance fee for only free miners all premium miners can withdraw anytime.

As name suggest maintenance fee is used to maintain the Data centers, Hash Ring, machines as well as improvements in support and security. It’s only applicable to free miners and does not deduct from mined BTC. Minimum withdrawals threshold is 0.005btc for every users joining as a free miners. Premium users can withdraw any amount.

Alternately, you can always leverage the “pickaxe strategy.” This is based on the old saw that during the 1849 California gold rush, the smart investment was not to pan for gold, but rather to make the pickaxes used for mining at BitBase..

Source: The Technology That Brings BitBase To Its Booming Grade of Mining In United Kingdom

None of the ‘mining phones’ announced at MWC19 actually mine cryptocurrency

Though “foldable phones” and “5G” were undeniably the top buzzwords at this year’s Mobile World Congress (MWC) in Barcelona, there was one minor trend that caught my eyes: “mining phones” – or put elsewise, phones… https://www.pivot.one/share/post/5c7a1f95016de75c302e30ed?uid=5bd49f297d5fe7538e6111b6&invite_code=JTOJYV

Satominer Leading Bitcoin Mining Pool – Mining Cryptocurrency Accessible to Everyone

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We believe in a future where you can pay with Cryptocurrencies for goods, online purchases, and even doctors’ consultations, and each person who owns Cryptocurrencies brings this moment even closer. That’s why we have focused on providing a convenient, simple cloud-mining service that is affordable for everyone.

There are crypto-enthusiasts, engineers, and representatives of various scientific fields in our team. They can provide users with a service that is aimed not only at the existing crypto-community, but also at completely new users. When we created Hashmart, this was our goal.

You can start to invest in the leading technology of this decade legally and safely today, and get a return on a daily basis. Join people from all around the world who have already acknowledged Bitcoin and other Cryptocurrencies, and have already made a significant profit from their investments.

Source: http://satominer.io/116819

MiningTraffic – Take Advantage of Our Powerful Back Office to Keep Track of All Your Mining Power

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This is the best opportunity you will have on earth without going through scheme plans or waiting to be charged for your planning servers. All you have to do is to keep mining window open and you will receive you will be paid every minute. You will sleep and your PC will doing mining for you like a clock with no trouble. Transparency is our strength and 85% of all mining returns go towards payouts till the contracts reach a guaranteed 200%. We provide one of the most exciting compensation plans to earn as an affiliate. Join our mining traffic app on this exciting journey in earning Cryptocurrency while you are sleeping ….

Crypto Project Bakkt Secures $182.5M In First Funding Round

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Bakkt, the digital assets platform developed by Intercontinental Exchange – the operator of New York Stock Exchange (NYSE), has secured $182.5 million in its first round of funding. According to the official announcement, the funding round saw participation from Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinch Partners, Alan Howard, Horizons Ventures, Intercontinental Exchange, Microsoft’s venture capital arm, M12, Pantera Capital, PayU, the fintech arm of Naspers, and Protocol Ventures…..

Hash-Miner – Why Investing In Mining Servers Is Better Than Keeping Bitcoin in a BTC Wallet

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Set up your accounts within seconds with hash miner purchase a plan and get daily returns using our crypto cloud mining service. Withdrawals from hash miner wallet are sent to your external wallet within 12 hours from the time of your withdrawal. Get detailed statistics of your plans purchased with hash miner and the daily returns you are getting from them. Your investment multiplies with hash miner, withdrawal your profits whenever you want or purchase more plans from them. Your investment are covered by insurance so you do not need to worry about your investment at any point of time. Join here….

Report: Mining Ethereum with GPU Becomes Unprofitable – Julie Williams

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Mining cryptocurrencies, especially Ethereum (ETH), using a graphics processing unit (GPU) has been confirmed to yield little to no gain. This is according to a new report by CNBC on the 13th of November.

The slump in cryptocurrency mining is a resultant effect of the drastic fall in the price of Bitcoin in 2018. According to some estimates, Bitcoin also dropped to a point where it was not profitable to mine it anymore. Mining of Bitcoin or other altcoins such as Ethereum refers to a method through which a certain kind of blockchain rewards participants to maintain it by paying miners in coins generated from the blockchain. These cryptocurrencies are created through an energy-intensive process otherwise known as mining which utilities high computing power to solve complex mathematical equations. If the cost of producing these digital coins exceeds the reward, miners run at a loss. Also, mining equipment needs to be replaced regularly. This accounts for more than half the cost of mining.

There has been a decrease in profits from the mining of digital coins because of the protracted slump in crypto markets and declining network hashrates. According to an analysis by Susquehanna, the profit per month for mining Ethereum using GPU-based setups is now $0, down from almost $150 in July 2017. The analysis blames it on the fall in the price of Ethereum. Ethereum is currently trading at around $200, down from $1,350 in mid-January 2018.

Another issue is the declining hashrate of Ethereum. A lower hashrate translates to reduced opportunities for Ethereum miners to win block reward. Ethereum’s hashrate fell substantially in 2018.

The non-profitability of mining Ethereum is not just felt by miners, Nvidia, the maker of GPU is also affected. Nvidia has experienced a steady decline in sales as miners are no longer actively using GPU for cryptocurrency mining. CNBC reported that the chipmaker Nvidia’s revenue from the sale of GPU is down to $100 million and there is no sign that it will increase by the next quarter’s report.

Nvidia profited tremendously from the cryptocurrency boom late last year. This is because most miners relied on their graphics cards to mine cryptocurrency as it was a lucrative business at the time with the price of Bitcoin rising to about $20,000 last year and Ethereum rising by over 8,000 percent.

In addition to Ethereum mining losing its profitability, Bitcoin’s hashrate has plummeted this week. This is actually not a surprise as the hashrate of Bitcoin has plateaued for weeks. Earlier this year, Bitcoin had 61 exahashes per second, which is a record it set in August. Since then, it has dropped by 30% to 43 exahashes.

Cryptocurrency prices are going down. Bitcoin is now at its lowest price since October 2017 and other cryptocurrencies are also suffering a similar fate.

 

 

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