Day: November 23, 2017

With the news of Bitcoin all-time high prices almost every week, it’s easy to forget that the world’s leading cryptocurrency is also setting new tops by other metrics almost as frequently. One of these is electricity consumption. According to an energy price comparison service in Britain, the environmental cost of mining Bitcoin might be far greater than most realise, or would prefer not to admit.

For Bitcoin to stay secure and immutable, processing units must solve and check complex algorithms. This is known as “mining” and those who use computer systems to provide this work are called “miners”. In Bitcoins beginning, mining occurred on a handful of laptop computers across the globe. As the price of Bitcoin has increased, so too has the profitability of performing the computational tasks required to ensure that the network runs smoothly. This has caused an effective arms race. Chip designers create ever-more complex machinery to perform the necessary “proof of work” and thus generate a greater proportion of the miner rewards that incentivise network participants. These specialised units also use a lot of electricity.

Today, not only has equipment become more expensive to run in terms of power, but greater numbers of miners than ever before are competing for rewards from the network. Miners whose equipment successfully solves the algorithm first earn themselves 12.5BTC, or around $100,625 at the time of writing. This has, of course, led to unprecedented increase in the amount of electricity used to mine new Bitcoins.

Power Compare, an energy price evaluation platform from the UK, recently published the total amount of electricity required by the Bitcoin network. As of Monday November 20th, 2017, Bitcoin was estimated to be consuming as much as 0.13% of the total global electricity consumption. To put that into perspective, it requires more electricity than the entire nation of Nigeria, or Ireland. In fact, the price watchdogs reckon the total burden of mining in terms of resources makes the Bitcoin network less energy efficient than 159 countries.

The UK company published various other statistics about Bitcoin’s power consumption too. They estimate that the amount of electricity that the network uses is equivalent to the usage of 2.4 million Americans, or 6.1 million Britons. It’s thought that all that juice costs over $1.5 billion annually. Meanwhile, mining is thought to rake in a total of $7.2 billion in the same period of time. Clearly, with such margins, it’s easy to see why so many are seeking to try their hands at Bitcoin mining. However, if increases in mining interest continue at the rate they are today, how long such power-hungry operations are permitted to continue remains to be seen.

Image: PixaBay

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Investing in cryptocurrencies is a high risk/high return activity. There is currently no other asset class that is this lawless yet has such high returns potential — as this year’s exuberant price rallies of bitcoin (BTC) and ether (ETH) illustrate. Bitcoin rallied by over 720 percent while ether has rallied by over 4,300 percent year-to-date. With high reward comes high risk, however, and crypto investors face a multitude of them in this largely unregulated and immature market.

The decentralized nature of digital currency networks is one of the main advantages that cryptocurrencies have over fiat currency, as it eliminates third-party risk. Instead of having to trust a financial intermediary with your finances, you can rely on an immutable transaction ledger that is constantly being audited through the use of cryptographic proofs.

Cryptocurrency and Blockchain advocacy in Kazakhstan is now aiming to get official legal status.

One term we hear all too often in the cryptocurrency world these days is “tulip mania”. Financial experts from all over the world have claimed Bitcoin to be a bubble far bigger than the tulip mania many centuries ago. In a way, it is not surprising someone would capitalize on this trend by creating an actual Tulip Mania ICO. This new ERC20 token purportedly provides a high ROI and “will go to the moon” pretty quickly.

Getting in on the Tulip Mania Action

Although such “joke ICOs” are nothing new in the world of cryptocurrency, one has to admire the tongue-in-cheek attitude of this project. Ever since JP Morgan Chase CEO Jamie Dimon called Bitcoin worse than tulip mania, people have been looking for ways to capitalize on this statement in one way or another. That has not been easy, even though Bitcoin has done well for itself by setting new all-time highs in the wake of these ridiculous comments.

This is where the new Tulip Mania ICO comes into the picture. The project itself is a brand-new ICO involving an ERC20 token known as Bulb. The ICO started yesterday and will run until December 21st. We do advise people not to invest in it, though, as there is nothing attributing value to this token whatsoever. Despite only 10 million coins being created and a certain amount of potential in such a name, it is doubtful Bulb will ever amount to much. That being said, if enough people buy into the Tulip mania ICO, the price per Bulb will have to go up exponentially to keep up with demand. We do know all tokens are to be distributed once the ICO ends, which may make Christmas very profitable indeed for certain investors.

The goal of this project is to determine how far a coin can grow when its main “selling point” is marketing itself. In order to succeed, the coin’s visibility will need to be raised, which means we will see some advertising, promotions, and viral marketing. Secondly, the community will need to get more involved with this project in the coming weeks and months. It seems there will be some incentives and bounties issued in the form of Bulb tokens. That’s an interesting approach, although it remains to be seen whether or not this will yield any significant results.

On the Tulip Mania ICO roadmap, we see some interesting events planned for the future. The year 2018 will be all about creating a proper marketing attack plan and expanding into other markets. If these steps are successful, a value of at least US$5 per Bulb would not be out of the question. It will all heavily depend upon whether or not enough people get swept up in the Tulip Mania or not. It’s an aptly-chosen name; that much is evident.

In the end, there will always be people who have some very odd thoughts on Bitcoin and cryptocurrency. Most of the value in these markets is based on speculation and hype, rather than solid fundamentals. If it were the other way around, Bitcoin would not necessarily be the world’s leading cryptocurrency right now. Then again, only time will tell how all those rankings will work themselves out in the end. To be sure, there’s a lot more to cryptocurrency than mere speculation.

After a period of ups and downs since the previous peak of June 2017, Ethereum has now reached the mark of $421, a new all-time high.

Zug, Switzerland, November 22, 2017 – Today, Experty announced they are implementing Proof-of-Care during their pre contribution phase. Experty decided to use the concept developed by their advisor Richard Ma of Quantstamp. Richard Ma, CEO of Quantstamp, noticed there was a glaring problem with ICO’s token distribution. He developed the concept of proof of care to help alleviate some of these issues. Proof of Care ensures that those who truly care about the project get higher priority in the token allocation, along with a bonus for those that qualify. Proof of caring solves the distribution issue that many ICOs experience. Often times, whales scoop up tokens the moment the ICO begins, leaving nothing for smaller participants. This causes a disparity in the token distribution and defeats decentralization.

Experty believes that tokens should be distributed fairly, evenly, and to those that will actually use them. This prevents large market dumps of tokens post-ICO and gives tokens to people who are loyal to the product. And want it for its real utility. Experty has made it their mission to bring their platform to the mainstream.

Kamil Przeorski, CEO of Experty said, “Experty is a practical application designed for widespread use. Transactions on the network are done in EXY tokens, which means users must own EXY tokens. Even and fair distribution, especially to those that will be using the application is essential to our success.”

The proof of care concept allows the community to be involved in the project and receive valuable feedback from the supporters. It allows ICO’s to reward its loyal supporters.

About Experty

Experty is based in Zug, Switzerland. Experty is a platform that allows for paid consultation in cryptocurrencies. For additional information on Experty, visit us at Experty.io, follow us on Twitter @Experty_io, join our Telegram, or read our blog at Experty_io.

Media Contact

Contact Name: Sarah
Email: [email protected]

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A lot of people have started paying attention to Monero as of late. This also means people are looking for proper wallets to store their XMR. Keeping funds on an exchange is absolutely not done in the world of cryptocurrency, as there is zero reason to do so. Unfortunately, not all Monero-themed wallets are legitimate either. Wallet-Monero, for example, is a pure scam and should be avoided at all costs.

Wallet-Monero is not an Official Project

When people enter the phrase “Monero wallet” in any search engine, odds are they will come across the Wallet-Monero website sooner or later. While this website may seem genuine and somewhat professional, it is evident the service is not endorsed by the Monero community in any official capacity. There are a few working wallet solutions for Monero right now, with Ledger and TREZOR support to follow in the next few months.

The list of “approved” Monero wallets contains no mention of Wallet-Monero. This goes to show the company has no honest intentions whatsoever, and the service should be avoided at all costs. Although it may seem like a genuine web wallet solution, the only service people should trust is MyMonero, which is the only official web wallet and is run by the XMR developers themselves. Any other service claiming to provide similar functionality is not legitimate until proven otherwise.

Moreover, it appears a scam called Wallet Monero has existed before. That site claimed to let users convert other cryptocurrencies to and from Monero and store them online. It is unclear whether the same administrator has revived the old scam with a new twist. Wallet-Monero’s layout and advertised features are very similar to those of the other site going by almost the same name.

While it is commendable to see Wallet-Monero refer to XMR as the “best cryptocurrency in the world”, it is doubtful this scam will attract a lot of attention. That can only be considered a good thing; otherwise, people might lose a lot of hard-earned money this way. This is neither the first nor the last Monero scam web wallet we will come across in the months to come. With the popularity of this private and fungible cryptocurrency on the rise, it is to be expected that certain individuals will attempt to capitalize on this momentum.

The Wallet-Monero website also claims that all rights are reserved by Monero. That is a very big red flag, considering that the Monero team has not officially endorsed this wallet nor are they involved in its development or maintenance. While the contact address listed on the website is the same as that found in the WHOIS information, it is doubtful there is anything legitimate about this project. Moreover, the website mentions there is 24/7 support, but the site’s template references opening hours of Monday to Saturday between 9 AM and 7 PM. All of this is very odd, to say the least.

Last but not least, the domain name was registered about a week ago, which further indicates this platform should not be trusted. People looking for a proper Monero wallet will need to do their homework and avoid the multiple scams floating around on the Internet. Cryptocurrency is all about taking full control over one’s funds at all times and sacrificing a bit of convenience. That generally means that using exchanges or even web wallets should be out of the question from the start.

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We present USERVICE – a new global decentralized transparent system built on the platform of UREMONT.com  

Moscow, Russia: USERVICE BLOCKCHAIN PLATFORM – new global decentralized transparent system that is built on the platform of one of the leading auto service aggregator UREMONT.com which has assembled more than 10,000 auto repair centers across Eastern Europe on its platform. The goal of this new project is to join on one platform all processes related to the auto industry, starting from its manufacturer to utilizing with simultaneous scaling of the new system globally (with starting points: North America, Asia, Europe and the Middle East).

Uservice Blockchain Technology – is an Ethereum blockchain platform where smart contract system will be used not only for processing requests for auto service and maintenance but also for storing the history of every car on a single blockchain for further optimization by industry players.

Uservice is a new approach in the industry where Uremont.com will become the base blockchain platform.

The platform unites all the players of the industry: repair shops, manufacturers, insurance companies, dealers to increase profits, customer flow and efficiency of services provided. Blockchain technology allows us to register any deal or operation in the ecosystem within seconds. In a matter of 3 minutes, you will be able to choose, approve and pay for repair shop and insurance company services worldwide.

By saving the history of all operations, USERVICE will become the largest information aggregator in the industry.

Using USERVICE:

• As a customer, you get the best value for money,
• As a repair shop, you get constant customer flow,
• As a dealer, you can promptly adjust your production process,
• As an insurance company, you get to form a more accurate price policy.

USERVICE platform is being developed as a continuation of active and developing project Uremont.com that was launched in 2016. Recently, the project UREMONT has become the leader amongst the aggregators of auto services in Eastern Europe and is constantly gaining popularity. We are confident with the introduction of the new USERVICE platform, which will result in an increase of a number of users by thousands of times.

Anytime, anywhere – the USERVICE platform is at your service!

Media Contact

Company Name : LIGHT AVENTURA LIMITED
Company Address : 737, Two Exchange Square, Connaught Place 8, Central, Hong Kong
Representative Name : Konul Iskenderova
Representative Position : Community Manager
Representative Email : [email protected]

The post We Are Creating a New Economic Model for the Auto Industry Using Blockchain Technology! appeared first on NEWSBTC.

Governments around the world are actively looking for ways to regulate Bitcoin and other cryptocurrencies. That is much easier said than done, as there is no real way to control Bitcoin and altcoins. Governments do not control the issuance, creation, or flow of money in this industry. Over in Malaysia, we may see a firm form of cryptocurrency regulation in place as early as next year. It is unclear what exactly that will entail, though.

Malaysia Prepares for Active Cryptocurrency Regulation

It was to be expected that Bank Negara Malaysia would introduce cryptocurrency regulation. After all, the institution has been actively discussing this topic for quite some time now. It was expected it would introduce regulation this year, but this time frame has been pushed back to early 2018. That can only be considered a good thing, mind you, as we need governments to take their time before making any decisions when it comes to cryptocurrencies.

A representative of Bank Negara Malaysia has indicated this regulation will go into effect very soon. It appears people who convert cryptocurrency into fiat currencies will be considered reporting institutions. This means these individuals will be subject to the country’s Anti-Money Laundering, Anti-Terrorism Financing, and Proceeds of Unlawful Activities Act of 2001. It is quite the mouthful, but it basically means that converting Bitcoin or altcoins to fiat will put individuals and companies on par with regular banks.

This doesn’t mean cryptocurrencies are suddenly considered legal tender in Malaysia, though. Anyone using crypto will need to adhere to the strict guidelines affecting banks and other financial institutions. This should help prevent criminals from abusing the cryptocurrency ecosystem and deter people from committing unlawful activities involving Bitcoin. Furthermore, it protects the stability and integrity of Malaysia’s financial system as we know it today. That’s an ambitious goal, to say the very least.

It is certainly true that Bank Negara Malaysia believes the era of cryptocurrencies has arrived. That in itself is a positive sign, as they will bring a lot of innovation to the financial sector as a whole. Ignoring this new wave of innovative technology in the financial sector would be a grave mistake. It is good to see the Malaysian government keeping a somewhat open mind to this particular form of money. Whether or not its regulatory framework will please local exchanges remains to be seen, though.

So far, there is still no evidence of Bitcoin or other cryptocurrencies playing a role of importance when it comes to financing terrorism. While a total of 346 suspicious transaction reports have been reported throughout 2017 so far, none of them appear related to cryptocurrency in any capacity. This shouldn’t really surprise anyone at this point, though, as Bitcoin is far too transparent when it comes to financing illegal activities. The currencies which do hide all traces can’t be effectively tracked either.

It will be interesting to see if other countries follow Malaysia’s example in the coming years. Regulating cryptocurrency is, by default, impossible. All that can be regulated are the companies and service providers facilitating conversion services to and from fiat currency. This new framework will apply to them first and foremost, with most regular consumers remaining safe from harm in this regard. An interesting future awaits Bitcoin in Malaysia; that much is evident.

DALLAS, TX – The next 100 people who register for the Bitcoin, Ethereum, and Blockchain Super Conference will get not only a $170 discount on their tickets but also a complimentary “Thanksgiving Bonus Box”. Inside each box is: a Super Conference t-shirt; a physical bitcoin, a printed copy of Satoshi Nakamoto’s original white paper; a signed copy of Bitcoin, Ethereum, and Blockchain: Surprising Insights from 200+ Podcast Interviews of Industry Insiders; and a Bitcoin coffee mug.

The Bitcoin, Ethereum, and Blockchain Super Conference, organized by Richard Jacobs, brings together more than fifty of the most respected players in the blockchain industry. Confirmed speakers include John McAfee, creator of McAfee (the world’s first commercial antivirus software), Tim Draper, the Billionaire venture capitalist, Erik Voorhees, who was featured in the Netflix documentary Banking on Bitcoin, Charlie Shrem, founder of the Bitcoin Foundation, and dozens of other developers, entrepreneurs, venture capitalists, and respected thought leaders in the cryptocurrency space.

“You think Bitcoin going from $1,000 to more than $8,000 in just one year is crazy?”, asked Mr. Jacobs. “Just you wait until you see what’s coming in 2018. You haven’t seen anything yet. We’re standing on the threshold of the most exciting technological revolution in living memory. This three-day conference is going to show private investors and crypto enthusiasts where the smart money is, so they get in now before these opportunities “go public” and explode the way Bitcoin did this year.”

The Super Conference covers three days. In addition to the main conference itself, there is also an additional “beginners track” for those who are new to cryptocurrency to get up to speed quickly on how the industry works. There will also be a complimentary hackathon for kids, teens, and young adults, providing them with the perfect opportunity to get their hands dirty with blockchain technology.

The main conference will feature more than 50 headline speakers, whose talks will all converge around the following theme: how can regular, Average-Joe investors get in on this once-in-a-lifetime opportunity and reap outlandish profits when blockchain technology enters the mainstream in 2018?

Registration for the Bitcoin, Ethereum, and Blockchain Super Conference is still open. Tickets normally cost $797. However, those who secure their spot before Saturday November 25th get a $170 discount, as well as a complimentary Thanksgiving Bonus Box – but only while stocks last.

Ready to reserve your spot? Purchase your tickets over here:

https://www.bitcoinsuperconference.com/attendee-registration-page/?utm_source=Merkle-PR8

Want to learn more about the conference? Join the free notification list over here:

https://www.bitcoinsuperconference.com/notification-list/?utm_source=Merkle-PR8

###

Press contact:

Richard Jacobs

[email protected]

(888) 984-0070

About the Bitcoin, Ethereum, and Blockchain Super Conference:

This three-day conference will be held at Dallas/Fort Worth International Airport from Friday February 16th to Sunday February 18th, 2018. We are expecting more than 800 attendees, at least 50 headline speakers, and upward of 50 exhibitors – with talks from founders, developers, and early-stage investors of blockchain startups, including many that are planning ICOs throughout 2018.

This is a sponsored post and does not necessarily reflect the opinions held by any of The Merkle’s employees. This is not trading or investment advice; always conduct your own independent research.

The plot continues to thicken when it comes to JPMorgan Chase and Bitcoin. After its CEO denounced Bitcoin as a fraud, customers started buying Bitcoin in large quantities. It now appears the financial institution will actually offer Bitcoin futures trading in the very near future. That in itself is intriguing, although nothing has been set in stone just yet. It will be interesting to see how Jamie Dimon responds to all of this.

JPMorgan may Offer Bitcoin Futures Soon

Over the past few years, we have witnessed a growing demand from institutional investors for Bitcoin and cryptocurrency. More specifically, these investors would love to be exposed to Bitcoin price volatility without having to go through the process of buying BTC first and foremost. Futures markets are growing in popularity all over the world as we speak. In most cases, banks do not get involved in this particular space, but that may come to change in the near future.

More specifically, JPMorgan Chase – of all financial institutions – is currently contemplating providing investors with Bitcoin futures trading services. Assuming the company decides to go ahead with the idea, its futures-brokerage unit will give customers access to CME Group’s proposed futures contracts. It is a pretty intriguing development, as the CME Bitcoin futures are considered to be the proverbial floodgates for institutional money entering the world of cryptocurrency.

Although a decision on the matter has not been made, the fact that it is being even remotely considered paints an interesting picture. Most people will recall how JPMorgan CEO Jamie Dimon called Bitcoin a fraud a few weeks ago. Ever since that time, we have seen the Bitcoin price set multiple new all-time highs in quick succession. While cryptocurrency may be a bubble for all we know, it is not about to burst anytime soon. That will heavily depend on whether or not there is any major risk associated with Tether right now, which remains a big question.

As for JPMorgan potentially offering Bitcoin futures, that depends on whether or not CME gets regulatory approval to launch its Bitcoin futures product. Right now, that seems highly likely, although things always work out a bit unexpectedly when it comes to cryptocurrency-related products. Assuming CME gets the green light, the new product should come to market before the year is over, although no official date or timeline has been communicated at this point.

Seeing JPMorgan do a complete 180 regarding Bitcoin and cryptocurrency is rather significant. Although it remains to be seen if the company will actually go ahead with this futures offering in the coming weeks, the concept is actively being considered. It is doubtful that Jamie Dimon will be all too pleased with this development, although he must be involved in the decision-making process somehow. Things are certainly evolving in a very different direction from what most of us had expected a few months ago.

The big question is whether or not other banks and financial institutions will jump on the Bitcoin futures bandwagon as well. It would be in their best interest not to ignore cryptocurrency any longer, yet they can’t openly endorse it either. Providing access to futures trading would be an interesting intermediary solution, as it also would help gauge the general interest in Bitcoin from a consumer point of view. How all of this will affect the Bitcoin price across the exchanges remains to be seen, though.

Russian bank head calls for Bitcoin acceptance.