The South Korean giant Kakao plans to launch cryptocurrency exchange

South Korean company Kakao announced its plans to launch cryptocurrency exchange. Bidding will be conducted through a mobile app for messaging KakaoTalk, which uses 93% of smartphone owners in the country.

The company already has an app for stock trading Kakao Stock. Service users can buy securities via messenger. The transaction fees they do not pay.

It is assumed that the future of cryptocurrency, the exchange will work in a similar way. It will support the currency such as Bitcoin, Ethereum and others. The work on the new site has been ongoing for several months.

At the moment, the new platform is not an official name. The launch date of the exchange the company has also not yet called.

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ICO-startup Taylor lost 2500 ETH as a result of hacking

Blockchain-Taylor project, developing a platform for beginners capturadora and recently completed ICO, been compromised. Hackers stole all the funds in the amount of 2578,98 ETH (about $1.5 million at the time), as well as private tokens of the project – TAY. It happened on may 21.

According to the team, the incident involved the same hacker (or group) who hacked another project CypheriumChain, stealing more than 17 thousand ETH.

According to Taylor, the hacker gathered all project funds in one wallet, and then translated them into a larger wallet, which had previously been transferred CypheriumChain. At the moment, this address is stored 48,440 ETH.

After the robbery, the project team found that the hacker is trying to sell their tokens on the exchange of IDEX. The startup has appealed to the courts with a request to delist TAY until then, until the situation becomes clearer.

The company also claims that tried to contact EtherDelta, but got no response. In the latest statement dated 23 may, the startup announced that during the attacks the hacker was able somehow to access one of their devices and thus to gain control over one of the files with passwords.

To offset funds to affected users, the company intends to issue a new token. It will be those who had a balance on the block 5663273 – with the exception of hacker.

«Our goal is to ensure that the hacker doesn’t get a new token. We analyzed all of the transaction and know exactly where the stolen tokens», – noted in the company.

Founder Taylor Fabio Seixas (Seixas Fabio) in comments to Brazilian publication Portal do Bitcoin said that the project team intends to hire a company to investigate the incident. He also promised to provide more information in the future.

«Soon we’ll announce the action plan in relation to the activities of the company and what happens with the token. At the moment I can’t provide more information,» said Seixas.

However, some users believe that this burglary was pre-planned staging.

We will remind that in April, users of Ethereum-wallet MyEtherWallet hacked, resulting in stolen 216 ETH of approximately $152 thousand

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Deloitte presented an overview of the regulation the ICO in 8 countries

Auditing company Deloitte has published a review of developments in state regulation of tokens and the holding of ICO in eight countries.

The document describes the recent decision of the regulators of China, Hong Kong, Canada, Singapore, USA, Isle of man, Malaysia and Israel.

At the conclusion of the review, the representative of Deloitte CIS says that in the world there are still jurisdictions that are willing to work with the ICO, and it is possible that many will look for «safe haven» for their projects in such countries.

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Home mining at the current price of bitcoin: heated space and grow tomatoes

To the chagrin of many enthusiasts, the notorious «here» in 2018 did not take place. The price of bitcoin and most other scriptaction much lower than at the end of last year. The market is still scrambling for a foothold, after a protracted correction, alternating stringy flat and deceptive «jumps of a dead cat».

However, in this situation there is nothing out of the ordinary. At least, so says a researcher Pension Partners Charlie Bilello, which results in a graph of maximum drawdowns of bitcoin since 2010:

Many believe that the market will eventually recover. Nevertheless, the ongoing deep recession right now has a serious impact on the profitability of mining. If in 2017 he was extremely profitable occupation in the home, but now the situation is clearly the opposite. Evidence of this are the fall of Harrachov due to power tens of thousands of mining devices, lower prices of farms and the unsatisfactory financial performance of Nvidia in the area.

Many have questions like «whether a profitable mine at home?», «are there innovative approaches to mining to energy intensive algorithm Proof-of-Work?» or «is it possible to use heat released by the equipment?». Journal ForkLog tried to understand the situation and answer these questions.

Mining is now very bad?

As you know, prices of most of cryptocurrencies since the beginning of the year fell by 70-80%. It is quite natural that in such conditions of miners becomes much smaller, since many types of equipment operate at a loss.

In particular, this thesis confirms the expert in mining and CEO of Acronym.Systems Matthew European Roller.

«We turned off all my equipment except that used for heating, and in addition farms on the NVIDIA» — he said.

Almost also did the famous YouTube blogger Mister Xal. In his video he says that the farm uses three graphics cards basically just to warm up, not overpaying for electricity.

Three GPU-farm issue 321 MH/s and at rate of $0.06 per kW / h of electricity bring $1.86 net income per day. But, according to him, the room is not cold and not need, relatively speaking, to go «plant».

«Buy the video card now makes no sense» — emphasizes the blogger.

The question arises: is it possible to enter into mining, mining cryptocurrency for the future, that is, in the hope that the market will soon unfold and this activity will be profitable?

Matthew European roller is convinced that the mine «minus» makes no sense because it is faster and easier to just buy coins on the market. However, he notes, can be different strategies of mining:

«For example, if you have cheap electricity, then there is hardly a better market than this one. After all, almost any type of equipment can now be purchased for pennies in comparison with peaks on the market. If you have the Fiat and you expect the market recovery can, for example, to buy an Nvidia farm on the cards for very very modest prices.»

Useful mining

As you know, a large part of the energy consumed in the process equipment is converted into heat energy. At high power, mining-farms, many people wish to use the heat that they emit.

So, for example, received a Czech entrepreneur and co-founder of the crypto currency exchange NakamotoX Kamil of Bracha. He used heat mining farm for growing vegetables.

For heat storage and subsequent transfer it to the greenhouse, the project team created a so-called «containery» and put them in the basement. The crop grown thanks to the rational use of the received heat from the miners, dubbed cryptomate.

According to the businessman, the very mining equipment gets electricity produced thanks to the recycling of biowaste.

«In fact, we have a closed energy cycle» — said Kamil of Bracha.

A year ago ForkLog reported Irkutsk entrepreneurs who have tested the mobile home, heated and provided hot water only from cryptoquote on the basis of two mining farms.

«Cryptococal looks like a normal system unit, which summed up the silicone tube with pink liquid — coolant. The miners heat the liquid, which is then distributed through the house through pipes. This creates added value in the form of cryptocurrency. Of course, more profitable to be heated in this way», — said one of the authors of the idea of Ilya Frolov.

Thus, the unfavorable price situation on the stock market, even if the equipment operates at a loss, you can obtain tangible benefits from allocated miners heat.

The use of this heat can be many. For example:

  • heating of any body of water fisheries, swimming pool, etc.
  • heated air indoors — office, shop, private house, greenhouse, etc.
  • warm floors in the house.

Of course, all these methods are utilization of heat should be carefully considered.

Mining 2.0

The market increasingly began to appear companies that not only create hybrid solutions, but also engaged in the design and installation of sometimes quite complex and powerful systems.

For example, the Ukrainian company Hotmine working on this kind of decisions since 2013. Their products the company is classified as «mining 2.0».
Now the company creates a «miners-heaters» of various variants and configurations that can be used for small spaces and for large objects.

Thus, the device Hotmine WX12 on the basis of chips from company Bitfury can mine bitcoins at a speed hash 29 TH/s.

The unit has a capacity of 4 kW and provides for immersion cooling. The exhaust from miner’s heat can heat the water in the heating system up to 70°C.

In one of the videos demonstrates this miner-boiler in action on the example of a private house:

The company creates and mining system of high power. So, Hotmine Data Tank has a capacity 500-570 Th/s.

Also the blog notes that a system consumes from 60 to 72 kW, weighs 600 kg and is able to take more than 100 kW of thermal power.

In addition, Hotmine currently creates convector-miner, which, according to the developers, looks like a radiator and works quietly.

Such decisions, but focused on mining altcoins, creates a startup Comino.

According to the developers, the liquid subcooling increases by 20% the performance of the involved cards. The unit runs very quietly, giving 200 Mh/s when mining Ethereum.

Also, according to Comino, the unit can be used as a home heater.

Similar but slightly less powerful solution, offers French startup Qarnot. Cryptological QC-1 is equipped with two graphics cards — AMD Sapphire Radeon RX580 Nitro and 8G, a total capacity of 60 MH/s.

Cryptologically from Comino and Qarnot look quite elegant. However, the obvious disadvantages of these devices are their prices against the background of falling profitability of mining ETH cards seem to be extremely overpriced. So, the price of the first device is €4500, and the second is €2900. Thus, it is unlikely at the current price of Ethereum rely on the fact that such «cryptomancer» will pay off quickly.

For example, if you believe the calculator from Nicehash, even at $0.06 per kWh is popular among miners the AMD RX 580 8 GB brings the monthly $3,42.

Data as of 26.11.2018 with weighted average prices Ethereum at $110.

In addition, it is unlikely generated by these devices heat is enough to consider them full-fledged heaters. Apparently, the practical use of such convector-miners can only be in the offseason, or when used as a supplementary heat source.

However, in the opinion of the head of the Acronym.Systems, the term «mining 2.0» may include not only useful application of heat, but entirely different things:

«On the one hand by «mining 2.0″ can mean alternative ways of achieving consensus, such as Proof-of-Stake. On the other hand is a movement in the direction of Fog Computing (fog computing), when we use the power mining equipment for useful calculations (e.g. SONM)».

Overall, he said, decentralization is not limited to «estimates and calculations». For example, there are significant prospects for the sphere distributed storage of data, ensuring privacy of information and its inaccessibility to the state and corporations.

Stylish miners

Despite not the best situation in the market, companies and their marketers do not lose heart, resorting to various tricks. So, for coinmine firm has presented device for cryptocurrency mining, in appearance resembling a Xbox.

One for coinmine offers several options for mining bitcoins: Ethereum and Ethereum Classic with speed of computation 29 MH/s, Monero with 800 H/s, with zcash for 290 sols/s. On the website States that the AMD Radeon RX 570 4 GB

The device consumes 120 watts, low noise level — 40 dB — allows you to install it in the living room or office. The user can operate the extraction using an intuitive app for Android or iOS.

«We want to democratize the market for mining equipment and to reduce the entry barriers to the business of the cryptocurrency mining», — said General Director for coinmine of Farbood Nivi.

The start of sales for coinmine One is tentatively scheduled for mid-December. The price of the miner will be $799.

Calculate payback device for coinmine from the same relatively small $0.06 per kW / h the Calculator gives us that in a month such a device brings in $3.40 in profit, and in the day — only 14 cents.

Data as of 30.11.2018

Now divide the price of the miner on earnings per month: 799 : 3,40 = 235 months.

It’s almost 20 years! In addition, when calculating not taken into account the very likely growth of Ethereum, and reducing the rewards for the block in the context of the ongoing transition on the algorithm of consensus Proof-of-Stake.

Thus, it is unlikely, given current market conditions for coinmine One can be considered as an investment. Given the fact that the device uses only one video card, it is unlikely that it will generate significant amount of heat. Apparently, the device is designed for those who want to «feel» what is mining, does not want to bother the technical details.

***

Thus, despite the seemingly sorry state of Affairs in mining industry, there are opportunities to adapt to the current situation and in the warmth to wait out the proverbial «cryptobia». In all likelihood, the decisions on rationalization of mining will develop in the future. This, in turn, will help stabilize Hasrat and sustainability of kryptonyte in General.

Alexander Kondratyuk


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Unknown player during the day, moved 12.3 million Litecoin

30 November, the Litecoin system has handled transactions totaling nearly $1.1 billion, which significantly exceeded the average daily figures ($100 million). Total for the day was transferred 35.4 million LTC, which is about 60% of the market offer. One player allegedly transferred 12.3 million LTC.

So, in the TOP 100 richest Litecoin wallets included just 41 new addresses with a balance of 300 000 LTC. Unknown at this time, standing there over the transactions, bitcoin exchange or OTC platform. Nevertheless a new player, if it is one subject, now owns nearly 15% of all Litecoin coins that will ever exist.

Some users also suggested that Bakkt or Fidelity Digital Assets therefore are prepared to launch, however no evidence of this yet.

At the moment, these wallets hold all the lines of the list of the richest holders of coins from 10 to 51.

We will remind, on 3 and 4 December three purse carried out a transaction on 199 thousand bitcoins, and several times separating them, including between the address format bech32 combined accounts for 8000 BTC.


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Goldman Sachs thinks to start trading bitcoin

Goldman Sachs Group Inc. may be first major company on wall Street, which will conduct operations with cryptocurrencies, reports citing its own sources, The Wall Street Journal.

Investment Bank makes its first steps, considering this possibility, and may give up their intentions. According to insiders, Goldman Sachs interested in the opportunity to be a key provider of bitcoin trading for institutional investors.

Now in a Corporation considering engaging in work with cryptocurrencies units of foreign exchange transactions and strategic investment group of the Bank. This leads some experts to think that here and see the future of bitcoin as a means of payment, and as a means of accumulation, such as gold.

Recall that in the first half of August, Goldman Sachs released an article in the format of questions and answers on the topic of cryptocurrencies, in which it advised customers to closely monitor the market. A few days later the investment Bank predicted growth of bitcoin prices up to $4800, and by the beginning of September the exchange rate reached $5000.

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Google Play has banned applications for mining cryptocurrency on devices

Google Play has updated the policy Center for developers, adding new categories of prohibited content. Now the store is no longer possible to host the application for the mining of cryptocurrencies on the devices. In this application, «regulating mining in remotely», is allowed.

Under the new rules, it is prohibited now include apps like MinerGate, Crypto Miner, NeoNeonMiner and the like. In April Google also forbidden to post the extension for mining of cryptocurrencies in the Chrome Web Store.

Recall that last month owned by the Apple App store banned apps which mine cryptocurrency directly on the device. While cloud mining is allowed – as in Google Play.

Also we will add that earlier this year, Facebook and Instagram, Google and Twitter have imposed a ban on the advertising of crypto-currencies and ICO. In addition, popular in cryptosuite the social journalism site Medium introduced new requirements to cryptocurrency projects. To promote cryptocurrency and ICO in your service also banned mail marketing service Mailchimp.

Facebook later eased the ban and allowed to publish an ad of cryptocurrencies and related content, as if the advertiser had the procedure prior approval. Advertising binary options and the ICO remains under the ban.

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Huawei launches platform «blockchain as a service»

Chinese telecommunications giant Huawei has announced that it is preparing to launch a platform like “blockchain as a service” based solutions Hyperledger Fabric 1.0. On the new platform companies and developers will be able to create smart contracts, and then quickly and inexpensively deploy them in the Cloud Huawei for use in the data tracking of the supply chain in licenzirovanie securities and public services, ID verification and financial audit.

Recall that in January an open platform type, BaaS launched the Internet giant Baidu, which owns the largest search engine in China. The service received the name Baidu Trust. And last month, a whitepaper on the launch of the new platform “blockchain as a service” published by the Chinese giant e-Commerce JD.com.

Huawei is part of the consortium Hyperledger in 2016, and in March of this year as a result of their joint project appeared service Caliper, which you can use to verify the performance of large blockchains.

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The Monero client will support the functions of multipurpose

Developers anonymous cryptocurrency Monero announced that in the next update of the client network will be implemented with the full support of multipoles.

When will the new release is still unknown. Thus in the message Monero it is noted that multisig wallets and transactions being sent through them will look the same as other addresses and transactions in the network.

The Bitcoin network, address common wallets start with a “1” and multisig-wallets – C “3”. In the case of Monero this distinction will not. Experts believe that the cryptocurrency focused on privacy and anonymity, this is an important step. Moreover, the introduction of technology support multipolicy can facilitate exchanges and other service integration Monero in the future. It is also assumed that this innovation will be appreciated by the representatives of the darknet.

We will remind that on 22 November, the price of Monero after two months of decline, has made a breakthrough and for the first time exceeded $155. However, this was only the beginning: 6 December, the bitcoin has crossed $300, and on December 17 at $350. At the time of writing XMR was trading at $355,60 per unit and occupied 10-e a place in the Coinmarketcap list.

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Metropolitan Bank suspended the holding of cryptocurrencies international transfers

American Metropolitan Bank Holding whose services are actively used by cryptocurrency companies and investment funds, cease all international Bank transfers related to cryptocurrency.

According to one of the Bank’s clients, the reason for this step is that Metropolitan could not verify compliance with international wire transfers for cryptocurrency accounts. The solution is assumed to be a response to a case of international fraud involving one of the Bank’s customers.

Among the clients included Metropolitan cryptocurrency wallet Coinbase, which uses the Bank for transfers, deposits and support bitcoin debit card Shift.

Metropolitan has not provided information whether restored service. It is also unclear what will happen to the money that have existing overseas customers. Probably they will be frozen indefinitely.

After the IPO in November last year, the Metropolitan grew rapidly, which was associated, including, with a friendly stance toward the cryptocurrency market. Some have even called Metropolitan “bitcoin Bank”.

We will remind that earlier the South Korean authorities banned the use of cryptocurrency traders anonymous virtual accounts and conducted their inspections in the largest banks of the country.

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