In recent mining news, it has been alleged that the CEO of Vietnam-based Sky Mining has fled the country with $35 million USD in investor funds in his possession. Meanwhile, in the US, Tmgcore has acquired a 100-megawatt data center in Dallas, Texas, and local media have reported that Bitmain will open a mining facility in a former aluminium smelter in Rockdale, Texas.
Investors Allege CEO of Vietnamese Mining Company Fled to U.S. With $35 Million
Investors and board members of Ho Chi Minh City-based Sky Mining have expressed fears that the company’s chief executive officer, Le Minh Tam, has fled the country and run away with approximately $35 million USD in investors funds.
According to local media, Mr. Tam has not been contactable since Monday, with the exception of an apology note posted to investors on Wednesday via Facebook. Investors reportedly visited the company’s main office in Phu Nhuan District to discover “the building closed and the company nameplate removed.” Additionally, “all 600 mining machines in the company’s factory in the neighboring Dong Nai Province’s Bien Hoa Town had been taken away by a group of people claiming to be maintenance workers.”
Le Minh Hieu, the deputy chairman of the company, is forming a temporary board to “support investors and calculate the remaining asset[s] of the company,” and has accused the CEO of fleeing to the United States. “[The board] has reported this to the police and showed evidence that we are not guilty,” said Mr. Hieu.
Bitmain to Open Mining Facility in Former Aluminum Smelter
According to local media, Bitmain will be opening a bitcoin mining facility in a former aluminum plant in Rockdale.
Jeff Mosier, an energy and environment reporter for Dallas News, states: “The new Bitcoin mining facility is going to be opening at the former Alcoa Aluminum smelter, and that’s next door to the coal plant that just closed. So now that that’s gone, they have a big industrial facility with lots of electricity infrastructure [capable of] Bitcoin mining, which is essentially a huge server farm.”
No indication has been made as to when the facility will launch operations, however Dallas News reports that a listing on job site Indeed.com indicates that Bitmain Technologies is seeking to employ a project manager for the Rockdale location. According to the publication, the facility is expected to create “300 to 500 jobs.”
Tmgcore Purchases $60 Million Data Center in Dallas
Mining company Tmgcore has acquired a “$60 million USD, 150,000-square-foot data center” in Plano, Dallas, according to local media.
The facility is reportedly capable of a 100-megawatt power load, with the Tmgcore chief executive officer, JD Enright, stating: “One of the things you need is a lot of power, and there’s not a lot of places with 100 MW lying around.”
Mr. Enright claims that the company has “developed a two-phase liquid cooling Immersion technology to dramatically decrease cooling costs by up to 90 percent, allowing us to mine anywhere — even in Plano in the middle of the summer.”
Do you think that Texas will continue to see investment from cryptocurrency mining companies? Share your thoughts in the comments section below!
Images courtesy of Shutterstock
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The post Zcash Mining Hardware for 2018 appeared first on 99 Bitcoins.nEspaol Zcash is a privacy coin thats been on the market for a few years now. It uses a mining algorithm called Equihash. With an active developer and community, shielded or private transactions, and an appropriate fund for the founders, Zcash has been steadily developing, innovating, and appreciating in price. Zcashs Equihash is currently …n
The post HashFlare Review Is This Cloud Mining Platform Legit appeared first on 99 Bitcoins.nEspaol July 2018 update HashFlare announced thatthat it is stopping mining services and shutting down hardware on currentSHA-256contracts due to difficulty generating revenue. This basically support my theory that there&8217s no way to make any substantial profit with HashFlare and that you&8217re basically putting your money at risk. I&8217ve said it before and I&8217ll …n
Today Chuck, Doug and Danny dive into some crypto basics. Doug as always being the proprietor of Phoenix Crypto an ATM and Blockchain training service in Phoenix Arizona comes to us from the studio in Phoenix. Chuck and Danny join in from Denver Co.In the coming weeks we’ll be adding a new show on the Bloomberg Business radio channels in Miami, Houston, Denver and San Francisco so stay tune for that.We are really looking forward to reaching outside of the microcosm of Crypto and reaching new users in the general public hopefully creating a new Cryptophiles.
Over the past few years, a few privacy-centric cryptocurrencies have gained both in popularity and value. Many of these coins like monero, dash, pivx, zcash, and more were at one time top ten digital asset contenders as far as market valuation is concerned. Now even though a few of these specific digital assets have dropped out of the top ten capitalizations, some of them are not too far behind the highest valued coins, but a great majority of them have significantly lower market caps.
It’s been close to a decade since the birth of the original Bitcoin protocol and there have been over 1600 cryptocurrencies with all types of features launched since then. One specific digital asset feature that’s always been popular among cryptocurrency fans is anonymity. Most people know bitcoin transactions are not anonymous unless a mixing application is used, and even that type of tool is not 100 percent as the method obfuscates transactions at best. Because of this issue, a myriad of privacy-centric cryptocurrencies have been introduced over the years and many of them held top ten positions among the most valued digital assets but all of them have been bumped off the list. Quite a few of the most popular privacy-focused coins have lost considerable value since last December and a few of these tokens are also approaching some new changes and protocol upgrades.
Where Are They Now?
Monero (XMR) is a privacy-focused cryptocurrency that claims to offer untraceable payments, unlinkable transactions, blockchain analysis resistance, and adaptive parameters. The cryptocurrency is different than most digital assets because it’s not based on the original Bitcoin protocol and its consensus is based on the Cryptonight protocol. Since Monero was launched in 2014, the currency has done well as far as market value is concerned. For instance, the first week of trading saw XMR prices reach .99 cents to $2 per coin and over the past couple years XMR has gained around 6,900 percent since launch.
However, this December monero touched a high of $390 per XMR and so far in 2018, with current spot prices on July 28, the coin has lost -64.10 percent of value. More recently, the XMR community found out that XMR was mineable by ASIC hardware and decided to hard fork the protocol which resulted in four different monero forks. Monero is in the midst of planning to add compatibility with a privacy method called Bulletproofs and the XMR development team has announced the first Bulletproofs audit (by Kudelski Security) was successful. Monero is currently priced at $140 per XMR and the cryptocurrency holds the 12th largest market cap position.
Another coin that offers privacy sending features and enjoyed a long stay in the top ten is the cryptocurrency dash (formally known as darkcoin). Back in 2014, the cryptocurrency was trading for $1.25 -1.50 per DASH and at today’s current prices the digital asset is up 16,100 percent in value which is a pretty extraordinary feat. Although, people who didn’t get in real early on dash and bought the 2017 high have seen a loss of -83.8 percent during dash’s ATH of $1,500 per coin on December 21.
People like dash for a few reasons which include its private send feature which uses the protocol’s masternode program to mix coins and obfuscate transactions. The masternode protocol is a favorite among dash proponents as it allows nodes to earn revenue and it’s also used with the dash governance voting system. Recently, on the dash-focused Three Amigos Podcast, it was revealed that the financial institution Fidelity owns a 15 percent stake in Neptune Dash which is a firm that offers chunks of masternode ownership. People also dislike dash for a few reasons like how it’s always been haunted by the instamine rumors back when the currency launched. Some people accuse dash of being a planned instamine, but the developers have addressed the topic many times denying the allegations. Many dash supporters believe the its features and the community’s marketing have bolstered the coin. Dash is now four spots behind the top ten cryptocurrency capitalizations sitting in the 14th position.
Another privacy-centric coin that has seen a lot of market action since it was launched is zcash (ZEC). In fact, ZEC markets have been pretty wild since it was introduced because if you invested in the currency during the first week of launch you might be seeing a big loss. During the first day of trading ZEC prices were around $2,044 per coin, $574 the next day, then a day later it was $1,624 a ZEC. In a few rare instances, some exchanges hit $12K per ZEC the first day. In order to make transactions private Zcash users send ‘shielded’ transactions which are protected by zero-knowledge cryptography. The zero-knowledge methods the ZEC protocol utilizes are called zk-SNARKs and zcash users can also send open and public transactions as well. However many skeptics believe the minting ceremony process of zero-knowledge proof coins (trusted setup) is not 100 percent foolproof.
The ZEC protocol has some changes taking place on October 28, 2018, as the cryptocurrency will be upgrading to what’s called ‘Sapling.’ According to the developers, the upgrade will add increased efficiency to shielded addresses and transactions. As mentioned above, ZEC markets have fluctuated intensely since it was launched last October, and during the second week of December, it was roughly $500-675 per coin. Today, on July 28, ZEC is worth $220 per ZEC and investors who bought in December 2017 have lost -56 to -67.40 percent. Moreover, if you purchased during the first week you could have lost -89 to -80 percent.
The cryptocurrency PIVX (Private Instant Verified Transaction) is a privacy-centric Proof-of-Stake (PoS) coin that derives its codebase from the bitcoin protocol 0.10 and dash. The PIVX system also uses a masternode mechanism and the developers claim to have recently introduced Zerocoin (zero-knowledge proofs) technology. If an individual bought PIVX during the first week of launch, the person would have gained 230,900 percent. However, if the person purchased PIVX on January 10, 2018, they would have lost -83.38 percent today. PIVX is not very close to the top ten positions at all, as the currency holds the 80th position amongst the top valued coins within the crypto-economy. Furthermore, the PIVX community has a long history of feuding with the dash community which is likely due to the project’s similarities.
A Bunch of Different Cryptocurrencies Aim to Provide Anonymity — But As Far As Market Performance is Concerned, Many of these Coins Have Significantly Lower Valuations Than the Top Ten Cryptos
These four coins have all been top contenders within the cryptocurrency space and there are many other cryptocurrencies that have aimed to offer anonymity. Other cryptocurrencies that have done well within trading markets at one time and offer privacy-centric solutions include Zencash, Bitcoin Private, Komodo, Spectrecoin, Bitcoin Dark, Verge, Navcoin, Boolberry, Zcoin, Deeponion, and more. All of the methods these coins use consist of three similar ideas like zero-knowledge proofs, ring signatures, and masternode mixing services.
Now, most of these cryptocurrencies have some value but a great majority, minus the few mentioned above, are not very close to the top ten crypto-market valuations. The highest valued privacy coins that are somewhat close to the top ten positions include monero, dash, zcash, and verge. That’s only four digital assets, and the rest anon-coin’s market valuations are below the 40th position and don’t seem to be making it to the top-ten lineup anytime soon.
What do you think about privacy coins and how they have performed over the past year? Do you expect any of these cryptocurrencies to make it into the top ten highest valued digital assets? Let us know your thoughts in the comment section below.
Images via Shutterstock, Pixabay, and the various logos for each coin.
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Following several announcements of plans for global expansion, this week crypto exchange Huobi has reportedly informed Indian users of its intentions to present them with a P2P platform that allows trading in Indian rupee. The email notice published by local media promises zero transaction fees for exchanging BTC, ETH, and USDT.
Cryptocurrency exchange Huobi has announced in an email to Indian users its decision to offer peer-to-peer trading services in their country, local crypto media reported. The notice states that they will be entitled to zero transaction fees for trades in bitcoin core (BTC), ethereum (ETH), and tether (USDT). Users will be able to buy and sell these cryptocurrencies with support for transactions in Indian rupees (INR), according to a copy of the correspondence published by Crypto News, India.
The exchange says that “[…] we do think it’s time that we provide a solution of buying/selling digital assets with INR for all Indian users: Huobi OTC – a proprietary peer-to-peer (P2P) platform that allow[s] users and merchants to trade digital assets with your local currencies.” The crypto company also notes that “every registered Indian user of Huobi can log in to https://otc.huobi.com to trade digital assets with INR.” Customers are also advised to transfer to Huobi Global if they want to trade more cryptocurrencies with high liquidity.
The announcement was made after Huobi recently sent a questionnaire to its Indian users. In another email, the exchange also invited them to become “Global Merchants”. The message read, “After becoming a global merchant of Huobi OTC, you will be entitled to: post-fiat-to-token advertisements to gain more earnings during “Buy & Sell” processes; enjoy zero transaction fee and obtain 24/7 customer support.”
The launch of the Indian P2P platform has yet to be officially announced by Huobi with a release expected on its social media channels. However, the authenticity of the emailed message has been confirmed already by a spokesperson reached by Crypto News: “For OTC supports INR currency. Yes. It’s legit,” the representative is quoted as saying.
Peer-To-Peer Trading Expands After Ban, Before Regulation
Huobi’s announcement comes in difficult times for the Indian crypto community. In recent months, Indian companies and individuals working with cryptocurrencies had to deal with a bank crackdown that followed a ban imposed by the Reserve Bank of India, the country’s central bank. The measure came into force on July 5, after the Supreme Court upheld it in a hearing on July 3, when it did not grant a stay before the compliance deadline, and then in another one on the 20th, when it did not overturn the ban. The final hearing on the matter was scheduled for September 11.
In April, the RBI ordered regulated financial institutions to quit providing services to entities and citizens dealing in cryptocurrency. The restrictions have since forced Indian crypto exchanges to suspend fiat transactions and offer crypto-to-crypto trading options. Comprehensive regulatory guidelines are expected in September, as news.Bitcoin.com reported earlier this week. A draft has been prepared already and consultations are underway to finalize the framework.
Until the important decisions are made this fall, P2P platforms are offering a viable option for Indian traders who want to exchange cryptos with rupees. Cryptocurrency exchanges, Koinex and Wazirx, are already offering peer-to-peer trading services.
If Huobi fulfills its promise to Indian users, the launch of its P2P platform will become the latest in a series of moves aimed at expanding its global reach. Huobi’s plans include Europe, Asia, America, and Australia. In June, the Singapore-based exchange confirmed its intentions to open an office in London. In early July, the third largest crypto trading platform launched a platform in Australia with 10 pairs against the AUD. Huobi is also eyeing opportunities in Toronto, San Francisco, and São Paulo.
Do you trade cryptocurrencies on P2P exchanges? Share your thoughts on the subject in the comments section below.
Images courtesy of Shutterstock.
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‘œThat’s why the founders wrote the 6th ammendment, to protect the accused from judges, just on their own, deciding that something is true without the ruling of 12 jury members.’
‘” Lyn Ulbricht
Interview location: Skype
Interview date: Tue 23rd July 2018
Campaign: Free Ross
I first met Lyn Ulbricht in Austin in March earlier this year to discuss the case of her son, Ross Ulbricht, the founder of the online marketplace: The Silk Road. Our interview was before the decision of the Supreme Court to decline their petition to have the case reviewed.
Ross and the family are now left with very few options and are focused on raising awareness in political circles in search of clemency from the President.
If you are interested in the case and did not hear my first interview with Lyn, I would recommend listening to it or watching the interview on YouTube.
The petition to the Supreme Court focused on alleged violations of both the 4th and 6th amendments, yet the Supreme Court denied Ross a retrial and provided no comment. The case is widely misunderstood, often with those not aware of the full facts of the case raising the charge of murder for hire as justification for the sentence, a charge which has been dropped.
Ross is facing the rest of his life in prison for what was a non-violent crime, and for which the Drug Policy Alliance said:
In a world operating on the modus operandi of prohibition, users are often left in the dark and all sorts of other precarious situations; purchasing at music festivals is one glaring example. ‘œThe overwhelming consensus among users of the Silk Road,’ Bartlett realized, ‘œwas that the quality of the product was far higher and its purity far more reliable than anything you’d find on a street corner.’ Goodbye stranger-danger, dark alleyways, and unknown/unlabeled substances. The Global Drug Survey of 2015 confirmed this, stating ‘œreduced rates of exposure to violence, less adulterated drugs, more confidence in product quality and removal from street dealing were clear benefits.’ Will this access lead some to experimenting with other drugs? Sure, maybe. What’s clear however, is within this system, people are able to better regulate and reduce harm associated with their drug use.
In this interview, I talk to Lyn about the denial of the Supreme Court, the support of the Libertarian Party, the petition for clemency and life for Ross inside the prison.
Eijah joins us in studio today to talk about the latest on Promether. We are also joined by my cohost Doug owner of PhoenixCrypto who offers a wide range of services to the Phoenix area, such as ATM’s and training classes. Alex the owner of Classic Crust Pizza which seems to be Phoenix’s mecca for Crypto also has a very interesting project that he’s working on that incorporates ring signatures into Ethereum.
Hardware wallets, like the cryptocurrency stored within them, can provoke strong emotions in their owners. Hodlers like what they like, and that’s the end of the matter. If the first hardware wallet you bought was a Ledger, you’re probably Ledger for life. Likewise if you’re in Team Trezor. Keepkey, which completes the holy trifecta of hardware wallets, is less famous than its siblings, but the sleek black plastic device still packs a punch.
At Consensus New York, my budget wouldn’t stretch to the €49,000 diamond-encrusted Nano on display, but there was space in my bag and my heart for a Keepkey. At $129, it’s a little pricier than the Ledger Nano or Trezor One, but cheaper than the swish new Trezor Model T. I should probably add a warning at this stage, incidentally: the review you’re about to read is painfully long, which is a reflection of how long it took to get this damn wallet working. But we’ll get to all that in due course. First, let’s start at the start…
Ever since last year, Keepkey has been the property of Shapeshift, who bought up the company, enabling Keepkey users to exchange between cryptos without exposing their private keys online. Keepkey promises “bank-grade security,” whatever that means, and a system so easy that “even your grandmother can protect her bitcoin wealth,” which seems a little patronizing. If gran was smart enough to buy bitcoin, she’s surely got the perspicacity to work a paper wallet.
Beauty Is in the Eye of the Behodler
It’s funny how much form, rather than function, influences our purchasing decisions – even when we’re purchasing a cryptocurrency wallet that’s destined to be consigned to the dark recesses of a safe. Beauty is in the eye of the behodler, but there’s a strong case for asserting that Keepkey’s hardware wallet (they only make one) is more fetching than a Trezor, and arguably smarter than the Nano too, even if it lacks the latter’s brushed metal exterior.
Visit the Keepkey store and you’ll find just two products to choose from: a single, regular Keepkey and a box of 50 which retails for $6,450. Perfect for the security conscious trader who likes to keep their shitcoins on separate sticks in separate vaults. The lightweight and plasticy feel of the device is somewhat tempered by the quality of the USB cable that comes bundled with it. It feels luxurious to the touch, but it’s here, after installing the Keepkey Chrome browser app, that I encounter my first problem: it has a standard USB connection but my Macbook Pro does not. That’s Apple’s fault, not Keepkey’s, but it’s a bummer when you’re on the road, as I found myself at the time of writing this review, and thus without access to a USB-thunderbolt adapter.
Third Time’s a Charm
At home, 24 hours later, I plug the hardware wallet into my laptop via the thunderbolt adapter, but there’s no sign of life. I’d expected a USB drive to show up on my Macbook Pro, or for the Chrome app to display a notification and the Keepkey to light up, but nope. Not a peep. Figuring it might just be the thunderbolt adapter, I try connecting the device to my old Macbook Pro, which has a USB port, but still nothing. Then I try my Chromebook, and once again, nothing. In a moment of inspiration I google “keepkey setup” and salvation arrives.
According to Keepkey’s Get Started page, you need to first open the app by “navigating Chrome to chrome://apps/”. This is less than intuitive, but is partly Chrome’s fault for having a crappy UI that conceals extensions and apps behind submenus. This does mean, however, that every time you go to use your Keepkey (if you’re as disorganized as I am) you’ll need to google “keepkey setup” to remind yourself of how you get into the damn thing.
Wait, Not So Fast…
Having successfully gotten my Chromebook to update the Keepkey, I decide to reconnect it to my Mac and see if the laptop can now detect it. It can, and am prompted to set up my PIN and then write down my 12-word recovery phrase. I’ve written it down once, and am just preparing to jot down a second copy when the device inexplicably disconnects and I’m forced to start the whole process all over again. After re-entering my PIN twice, I begin jotting down the new recovery phrase, when the same thing happens. Keepkey and my thunderbolt adapter can’t seem to get along, so I resignedly reconnect it to the Chromebook.
Eventually I succeed in finding the apps section of Chrome by pasting the URL into my browser, whereupon I’m prompted to hold down the button on the Keepkey and plug it in to update the firmware. When that’s done, I’m presented with a screen showing a BTC wallet set up by default and nothing else. I hit the plus sign to add a BCH address and then scan the QR code from my Bitcoin.com wallet. I select $5 of bitcoin cash and send it to my Keepkey address. The fee is 3 cents. While I’m waiting for the transaction to clear, the Keepkey logo lurches across the screen in instalments. It reminds me of the handheld monochrome soccer game I played as a kid. Anachronistic, but comfortingly nostalgic.
Nice Device, Now How About Some Altcoin Support?
I like the design of Keepkey, and I like the cable, if it’s possible to have affection for a USB cable, while the software is passable. Is the device capable of challenging Trezor and Ledger? Sure…provided you’re happy to hodl namecoin, doge, and dash. 2016 just called and it wants its altcoins back. In fairness to Keepkey, there is at least BTC, BCH, ETH, and LTC support and native ERC20 token support is currently in beta so should eventually arrive. Given some of the ERC20s I’m embarrassed to own, it’s probably for the best I didn’t get a chance to screenshot them in this review.
Keepkey’s biggest weakness right now, as its team are undoubtedly aware, is the shortage of coins that can be stored on it. While the market leaders are pressing ahead with monero support, Keepkey is still way behind the curve. It would be great to have EOS, cardano, zencash and maybe some ripple for the ladies. It’s odd that there’s support for the 295th coin by market cap (namecoin), but room for just six out of the top 20 cryptocurrencies – or top 100 if you wanna make that statistic even more damning.
I’ll certainly keep using the hardware wallet, using it to store any spare BCT, BCH, and ETH I amass, but a device so easy that “even grandmother” could use it? Please. My grandmother could have mined the genesis block and she’d still struggle to connect this thing to her Chrome web app. I’ll keep my Keepkey, but in my heart I’ll be lusting after one of those diamond encrusted Nanos I saw at Consensus. Hell, I’d even settle for a regular one.
Have you tried the Keepkey wallet and if so how do you like it? Let us know in the comments section below.
Images courtesy of Shutterstock, and Keepkey.
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This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
FCoin, a digital assets trading platform, has gained investments from top-notch investment institutions including Danhua Capital, Node Capital, Singer Capital, Timestamp Capital, 8 Decimal Capital, Zipper Fund and other investors.
FCoin was founded by Zhang Jian, former Huobi CTO and author of the book “Blockchain: Defining The Future Finance and Economic Landscape”.
“We are delighted to receive investments from such trusted partners and look forward to progressing our plans to become a leading player in the crypto currency trading market,” Zhang Jian said.
FCoin is innovative and unique in its form of organization in that it is not simply a trading platform or a company but a new community that its users, namely the community members, can use to execute their rights and interests by holding FCoin Tokens (FTs), issued by FCoin.
FCoin has three features. First, it is the world’s first fully transparent trading platform, with disclosure of real-time assets and transaction data on the platform. Second, the world’s first platform adopts a “transaction fee mining” model and more than half of the FTs are rewarded to community users by returning the transaction fee. Third, beyond the self-organizing ecology of the community, 80% of the exchange’s revenue will go to the holders of FT, while FT holders also have the right to participate in the major decisions of the community.
There are two ways of accepting listings of crypto currencies, Zhang Jian explained. The first is by recommendation. Crypto currency which is highly recommended by a majority of the community members and meets the criteria can be listed on the mainboard, while others can go to the innovation board after scrutiny.
FCoin promises that the audit results will be given within 3 working days after the submission of the application, and, if the audit results are positive, the approval will be given immediately.
This is only the starting point of the evolution of FCoin, Zhang noted. Next, FCoin will advance a clearing and settlement system based on the cross-chain technology. The ultimate goal is to transform the exchange into a structure of Token+Blockchain, and practise the token economy.
FCoin is developed by a top-notch international team independently. The core team of the FCoin community consists of people from world-recognized companies who have considerable experience in both Wall Street and crypto finance companies.
This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.