Bitfury Group has opened for institucionales the opportunity to mine bitcoin

One of the oldest miners and suppliers of technology solutions Bitfury Group has launched the program for international institutional investors for investment in infrastructure for mining bitcoin.

Family offices and the wealthiest investors can participate in the program, both directly and through private equity funds and other mechanisms. Operational issues, including finding locations, purchasing and deployment of equipment and operation and maintenance will be borne by Bitfury.

Data centers located in North America, Norway, Iceland and the countries of Central Asia can be further converted for other tasks that require serious computing power.

In Bitfury expects that launched the investment program will increase the maturity of the market, giving customers a convenient way of participating in the opportunities of digital assets. The company argued that not all investors fit the current mechanisms in the form of buying futures and options. Many stops higher volatility and risk of loss of funds due to incorrect work with keys and wallets.

«The proposal could get a response from family offices bet on the growth of cryptocurrencies without any operational/technical proficiency requirements by digital assets/infrastructure», — said in an interview the company’s CEO, Valery Vavilov.

In Bitfury believe that the proposal will contribute to greater acceptance of the cryptocurrency among those who took the time in the diversification of investment portfolios and digital assets, as it is required vast knowledge.

«The introduction of institutional proposals, such as the programme Bitfury introduces bitcoin with an influential audience, helping to strengthen it as an asset class and increase support for the further expansion of the network,» — said Vavilov.

We will remind, in April, located in the state of new York hybrid power Generation Greenidge concluded the first adjustable sales contract computing power for mining bitcoin.

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Samsung has introduced a new chip to protect bitcoin transactions on mobile devices

The South Korean company Samsung has introduced a ready stand-alone solution for security operations with cryptocurrency assets on mobile devices.

According to a press release, it includes SE-chip (S3FV9RR) and improved software.

The solution is designed to provide «protection for tasks such as isolated storage, mobile payments and others.»

«In the era of mobility and touchless interactions, we expect our devices for communication, such as smartphones or tablets, will be highly secure to protect personal data and to enable the financial technological operations, such as mobile banking, stock trading, and transactions with cryptocurrency», — said senior Vice-President, marketing division System LSI Corporation DongHo Tires.

The new chip supports a hardware root of trust (RoT), secure boot, and authentication devices. S3FV9RR certified according to the highest requirements for mobile gadgets CC EAL 6+.

The solution is meant primarily to ensure the safety of the most demanding features of the devices, including flagship smartphones, electronic passports and hardware cryptocurrency wallets.

It is expected that S3FV9RR be available in the third quarter of this year.

Earlier, Samsung introduced the world’s first 5G smartphone with integrated service authentication ID on the basis of the blockchain.


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Analysis of prices BTC, ETH, XRP (27.05.20)

BTC/USD

Yesterday the volume of purchases still remained small enough so that buyers could only get to level 9000.00 USD, and a two-hour test EMA55 was not strong enough. In the area of average prices the pair reversed and fell back below the POC (8855.01 USD). The decline stopped in the area week low.

Thus, the dynamics of the decline have been, for some time, translate sideways, along the line Of Control Point. Small consolidation range will be narrowed to the line of the indicator Volume Profile .

We believe that the exit from the consolidation will have to continue the local down-trend to the psychological level of 8000.00 USD. However, given the ability of market makers to manipulate prices, possible false bullish breakouts.

ETH/USD

Yesterday, on small volumes, the buyers failed to continue the rebound Ethereum . The pair fell back below the support of USD 200.00 by updating week low at point 196.60 USD.

In the Asian session, the price rebounded above the psychological mark of USD 200.00, and when the morning customers will be able to support the growth, the pair will test a two-hour moving average EMA55. As before, we believe that the decline may continue towards the support of the 78.6% Fibo (192.57 USD).

XRP/USD

Yesterday the low activity of market participants contributed to the consolidation of the pair XRP/USD in a sideways range, on the line Of Control Point (0.194 USD).

Continued consolidation will lead to re-test the upper boundary of the purple downside channel and pullback to the support area 0.188 USD.

* All prices shown are based on data exchange BitStamp



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First customer of the bitcoin pizza said the fate of the rest request BTC and Satoshi

Cryptomnesia Laszlo Heinitz who committed the first ever documented a purchase using bitcoin, admitted that they spent 10 000 BTC for two pizzas in 2010 – only a small fraction of total expenditure.

In connection with the 10th Day of the bitcoin pizza, celebrated annually on 22 may, Heinitz in conversation with Cointeegraph reported that it produced about 100 000 BTC, half of which was spent on pizza.

«I naminal about 100,000 BTC and spent maybe half of the pizza, and the other half on other things or handed out these bitcoins. Maybe all I’ve earned a few thousand dollars. I got enough to build a new computer for bitcoins» – he said.

Heinitz recalls that once he didn’t have enough bitcoins to buy a pizza, so he agreed with the seller on one piece for 6000 BTC.

«I was generous and were willing to overpay,» he added.

Commenting on how he has managed with the assets that are at the peak of the cryptocurrency market was worth about $2 billion, Heinitz said:

«With 100 000 bitcoin I would be a billionaire. But then I would not get the pizza.»

Heinitz was also informed that because of his work, has managed to port the bitcoin from Windows to MacOS. According to him, such a request addressed to him himself Satoshi Nakamoto.

«I was doing the Assembly because he was not Macintosh. He didn’t know how to build it for Mac. So I did, and the network laid out my sources», he said.



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Binance Futures traders expect the rise of bitcoin

Despite the bearish manners of bitcoin in recent days, the best trader on Binance Futures hard put long positions on bitcoin, the airwaves and eight other cryptocurrencies.

At the time of writing this post, more than 50% of traders were waiting for the closure of their long positions in 10 assets, despite the decline in the prices of bitcoin.

Thus, the majority of traders Binance Futures remain convinced that in the short and medium term, bitcoin will resume its upward trend.

The reasons for bitcoin optimism

From March to April, bitcoin went over the assets of the US stock market.

May 26, the Dow Jones rose 2.6% in about three hours after the opening of the market, and the growth of optimism about the «restart» of the us economy was the main reason for the growth of bitcoin.

Since then, as at the end of March rates of assets of the U.S. stock market started to grow and has experienced a V-shaped recovery, investors hope the rally bitcoin has also increased.

According to trader Scott Melker, the declining sales of bitcoin on the back of the pullback is a sign of consolidation of the main cryptocurrency, and not a sign of entering the «bear» cycle.

«The volume decreases with price, since bitcoin surpassed $10 000. Should follow closely, as this is more a sign of the consolidation, the downtrend. You want the volume growing as when prices rise and fall?».

Positive mood on Binance Futures, apparently, also associated with expectations of a healthy consolidation rather than unilateral correction.

Another factor speaking in favor of longs, is the price trend last month, when the main cryptocurrency decreased by 13% after reaching a local peak above $10 000. Such setbacks are usually the reason for the re-entry of traders into the market.

The historic lows of altcoins against bitcoin

Top traders Binance Futures also actively buying TRX, ETC. and XLM, which declined from their historical highs of 93%, 85% and 92%, respectively.

Perhaps, some traders expect that after years of low prices altcoins have more of a chance of recovery compared to bitcoin.

At Bitfinex and BitMEX also noted the predominance of long over short – 77,4% and 68,4% respectively.



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Central Bank of India: banks have no restrictions in working with bitcoin companies

Reserve Bank of India (RBI) stated that banks may not refuse service to cryptocurrency firms. Thus the Central Bank has actually admitted that they would not insist on the revision of the verdict of the Supreme court, which repealed the prohibition of the regulator.

In response to the corresponding request, the regulator said that for banks there are no restrictions in opening of accounts of the cryptocurrency companies and traders.

Prior to this credit institution was in no hurry to meet such requests due to legal uncertainty.

Despite the Supreme court’s decision lifting the ban on cryptocurrency transactions in the country, the industry did not rule out the possibility that RBI will file a motion for reconsideration of the verdict. For this reason, the position of many banks, which either blocked the account or recommended to stop the activity with cryptocurrency, has not changed.

According to media reports, which refer to local legal advice in the FINTECH sector Muhammad Danisha, this situation was caused by lack of orders of the RBI requiring banks to implement the decision of the Supreme court.

To overcome this legal conflict has helped a request from the cryptocurrency of the company Harish BV on 25 April, which was granted a month later. RBI said that «for the current date does not have such limitations».

In Harish BV, I believe that such a clear response regulator removes the last obstacle for a thriving cryptocurrency industry in a country with a population of 1.35 billion people:

«After the response, the RBI has become clear that the blockchain and CryptoStream now no need to register outside India».

In one of the largest bitcoin exchanges in the country CoinDCX noted that after the verdict of the Supreme Court in the cryptocurrency industry in India there was a real boom. In the first quarter of a bitcoin exchange has recorded 47% growth in trading volume, a tenfold increase in registered users and 150% increase in daily active users.


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In Kyrgyzstan proposed to introduce a contract system for miners cryptocurrency

The mechanism of taxation of mining cryptocurrencies in Kyrgyzstan needs to be simplified. This was stated by the MP Azamat arapbaev in the debate on amendments to the Tax code, writes the local edition Tazabek.

The current version of the document stipulates the tax rate on mining in the amount of 15%, which is calculated from energy costs. Arapbaev said that the loss of Kyrgyzstan in the energy sector make up 14%:

«This is essentially theft of electricity. If a mining-farm on 1 million kW/h wind, how you will collect sales tax? Isn’t it better to assign a tax on one computer on my contract? Why control energy, how much they cheat or how much was stolen?»

The Deputy Minister of economy Bekbolat Aliyev believes that control of the account spent on mining power will help smart meters.

«Now [rates] at the level of 2.14 catfish (2.04 ruble) per kWh, but for mining will be the multiplying factor. Then, the average rate of 2.90 catfish (2.76 rubles)», – he said.

Despite the fact that electricity bills do not come for a full month, from miners require a report for this period is fraught with differences between receipts and payments, warned the Deputy Dastan Bekeshev.

«If I were President, I would tax agents made of notaries and the same distribution network. They have contracts, take 1% and 14% transfer to the budget. They are simpler – they know where sits the miner. You will not find where he sits, only through electricity consumption, and data on them, «Severelektro» and other energy companies», – he said.

If taxes on mining tied to the energy sector, there will be another loophole for corruption, agrees the Deputy Aisuluu Mamashov.

«Today all that is written in the law, is a crime and we are all businessmen-miners are left with nothing. We need to find out what happened to the confiscated equipment for mining and who is now it works because it is in any case work», – said Mamashov.

According to her, many big businessmen have converted their plants under datacenters for mining.

«Using the released limits of power, [they] already bottom, and no to them no taxes. Need taxation to revise for them, but energy drinks give the possibility cannot be because they wrapped it in the corruption scheme», — said the Deputy.

The draft law «On amendments to the Tax code of the Kyrgyz Republic» was approved by decree of government of Kyrgyzstan on 15 April 2020.

We will remind, in the end of 2019, due to the lack of a policy framework for regulating mining and large energy consumption in Kyrgyzstan have stopped the activities of more than 40 companies involved in the mining of cryptocurrencies.


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Core network project launched Polkadot

Organization Web3 Foundation on Tuesday announced the launch of the first phase of core network project Polkadot.

At this stage, Web3 will be to keep control of the network, responsible for working nod and validation blocks. Investors are unable to access their accounts with tokens DOT to declare itself as a potential validators or vote for others. The possibility of moving the DOT is not currently envisaged. Gradually Web3 will be to limit its own powers, making sure the stable operation of the network.

«From the time of issue of the documentation three years ago, we researched and created a Protocol Polkadot. It helped greatly to deepen our collective understanding of such systems since earlier work on Ethereum, – said the co-founder of Web3 Peter Czaban. In particular, we believe that an open management system Polkadot allow the chain to grow and develop much faster than older networks, accelerating the development of decentralized applications for the masses».

The Polkadot development was opened by the Ethereum founder Gavin wood in 2016. In 2017 Web3 held private tocancel by implementing a 5 million DOT for $144 million, and in the end of 2019, sold 500 000 DOT. According to the Wall Street Journal, as of the beginning of 2019, the project was estimated at $1.2 billion.

Selling tokens were conducted on a simple model agreements for future tokens (SAFT), which is the promise to provide assets with the launch of the network. Over the next months the community will vote for activation of translation tokens, after which they can be freely traded.

Shortly before today’s announcement Web3 organized the vote for change DOT denomination to increase the nominal amount of tokens 100 times. The community supported the proposal, but the developers have decided to hold another vote after starting.



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The journalist told about the hacking of Coinbase exchange, which went unnoticed

Cryptocurrency exchange Coinbase has a higher reputation among traders. For all history of existence no one hacker managed to steal cryptocurrency from this exchange — at least so say the representatives of the platform. However, not all agree with this positioning. An alternative story is told by journalist Jeff Roberts in a recent live podcast Unchained.

Coinbase have really high trust of users — this including evidenced by the huge reserves of bitcoins on the exchange. According to the information at the beginning of December, the platform was a record for the number of BTC available. Then it was about 966 thousand coins, the exchange rate was equivalent to 7.19 billion dollars. While the nearest competitor — BitMEX was 265 thousand BTC, that is 3.6 times less.

However, it is not without drawbacks. Despite the advantages Coinbase, the exchange often goes offline, that is refuses to work. This most often occurs at sharp jumps of the exchange rate of Bitcoin and other cryptocurrencies.

Who is trying to crack Coinbase?

Back to the interview of Jeff Roberts. According to him, in 2013 still occurred a little-known incident in which the attackers allegedly illegally brought to the crypt with Coinbase.

Roberts said that a year after the founding Coinbase in 2012 hot wallet of the exchange was hacked. Then the hackers allegedly managed to steal at least $ 250 thousand in bitcoin. Here is a quote which the journalist spoke about the situation.

One of their suppliers stole 250 thousand dollars in Bitcoins from the hot wallet. I don’t remember the exact number of coins, but there were many. Coinbase is a very safe trading site with a good reputation, but it is not «impenetrable».

Recall that a hot wallet is the storage of cryptocurrency, which is often used for transactions and is constantly connected to the Internet. Accordingly, hackers easier to hack hot wallet than getting to cold storage, which are usually not in contact with the outside world.

The article reviews Roberts was published on the news online Decrypt. A little later the representatives of the Coinbase contacted the staff of the site and explained the history of the Roberts. Actually the question here is not about the hacking of exchanges, and an unsuccessful phishing attack on one of its employees.

It turns out that the support agent of the exchange has revealed details to log in to your account in the course of a phishing attack. That is unintentionally shared information to log in your account with the scammers. The attackers tried to make some conclusions cryptocurrency to your wallet. Fortunately, they managed to make in just one transaction. As stated in Coinbase, bitcoins were withdrawn «a little».

As reported by Coinbase, then they spent working on the platform security and added protection against phishing attacks. Accordingly, as a result the incident has allowed the exchange to become more reliable.

And so it’s quite strange that on this incident we learn only now. Anyway, to draw conclusions from the situation even today. Even the most popular cryptocurrency platforms may present a security problem, which in theory can lead to loss of user’s money. It’s another reminder to use that to store their coins better on their own hardware wallet. Of course, the popular large platform usually reimburse losses — but happen unusual exception. In any case, that’s no reason to tempt fate, and therefore it is better to be responsible for keeping the money for themselves.



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More than 50% of all bitcoins have not moved for about a year

More than half of all outstanding bitcoins have a year in the hibernation mode. This may indicate a high interest in hodling currency.

Loyal Hodler bitcoin continue to hold in a static condition an impressive number of total circulating coin BTC. Twitter user Benjamin Celermajer (@CelermajerB) shared with his readers the latest statistics on this topic. According to the cryptanalytic Coin resource Metrics, the rate at which new bitcoins are not coming in motion one year (1-year HODL Factor) for the first time exceeded the threshold of 50%, updating the historical maximum.

Benjamin Celermajer interpreted this as a bullish indication of the fundamental health of bitcoin. In his view, the indicator has reflected a growing interest in PTS with long-term investors.

Faithful Hodler believe in the bright future of bitcoin

Indeed, the growth rate of hodling for a significant time period may constitute evidence that the owners of coins do not tend to spend their coin. Instead, they prefer to keep them for the future, waiting – as it would be logical to assume – the growth rate of the asset.

Earlier it became known, as the bitcoin whales derive their funds from kryptomere wallets for long term storage. Such transactions are traditionally considered to be a vote of confidence and inspire cryptologist.

Many experts also repeatedly stated that in relation to bitcoin hodling continues to be the optimal strategy. This view is echoed by participants of Cryptoprotected. Statistics show that cholerae are not only whales. This spring, the number of bitcoin addresses, the balance of which is not less than one VTS, has updated the historical maximum. In addition, the rate of wallets with a non-zero balance is also steadily growing over the past two years.

Not without a spoon of tar

Thus, it is possible to make an optimistic conclusion that Hodler «the bitcoin vote» for the cryptocurrency, continuing to consider it a safe asset, no matter what.

However, in comments to the aforementioned post Benjamin Celermajer, skeptics were not slow to wonder how many of these bitcoins «dormant» just because their owners have lost or lost access to their wallets. For example, one user stated that the number lost about 20% of all mined bitcoins.



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