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📈 Price Predictions Thomas Hughes

Good News Keeps Rolling Out for Ripple. XRP Still Bearish?

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After a spike seen on Dec. 8, XRP/USD failed to follow through and remained below the resistance zone created between 0.33 and 0.35
Good News Keeps Rolling Out for Ripple. XRP Still Bearish?

Coinone Transfer, which is a subsidiary of crypto exchange Coinone, has launched a mobile payments platform that uses Ripple’s xCurrent cross-border payments system to expedite transfers and cut back on fees.

The new platform is called Cross and is one of the first to be released after a recent change in South Korean remittance laws, which allows non-banking companies to offer cross-border services.

Despite this new partnership and rumours about a possible Coinbase listing for XRP, the price of Ripple’s digital coin remains bearish, with close to zero buying pressure.

Chart Analysis – XRP/USD

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After a spike seen on Dec. 8, XRP/USD failed to follow through and remained below the resistance zone created between 0.33 and 0.35, also capped by a bearish trend line drawn from the minor top at 0.40 reached on Nov. 28.

XRP is down 2.50% for the last 24 hours and more than 15% over the last 7 days, with the two Exponential Moving Averages crossing bearishly and spread apart, not to mention that a key support level is now threatened: 0.30.

A break of said support level would serve as a warning for a bleak scenario in which the pair will likely reach 0.25 against the US Dollar during the coming days. As long as the pair remains below the trend line and the resistance zone (0.33 – 0.35), we cannot expect any substantial gains for Ripple’s XRP.

Support zone: 0.30

Resistance zone: bearish trend line and 0.33 – 0.35

Most likely scenario: break of support en route to 0.25

Alternate scenario: choppy movement in close vicinity of support; no clear direction  

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Cryptopia Hacked: What Awaits the Crypto Market?

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Tuesday morning, crypto exchange Cryptopia announced via Twitter that on Monday, Jan.14, it “suffered a security breach which resulted in significant losses”.
Cryptopia Hacked: What Awaits the Crypto Market?

Tuesday morning, crypto exchange Cryptopia announced via Twitter that on Monday, Jan.14, it “suffered a security breach which resulted in significant losses”. This is the first hack of 2019, but it will probably not be the last, considering that in 2018 several exchanges were attacked and the evildoers don’t seem to be slowing down.

Cryptopia also announced that once the attack was identified, the exchange was placed in maintenance mode and the appropriate Government Agencies were notified, including the New Zealand Police and High Tech Crimes Unit. All trading on Cryptopia is currently suspended, but their trading volumes are relatively low, so the impact on the market is relatively insignificant and Bitcoin doesn’t seem affected at all.

Chart Analysis – BTC/USD

BTC/USD chart

Bitcoin is down almost 9% over the last 7 days, but the last 24 hours have shown a 2.52% bounce up, with BTC/USD currently trading at 3,677 according to CoinMarketCap’s aggregate data.

Currently, the pair has found support at 3,500, which is both a psychological level and a technical one. We also have a bullish trend line, which can offer support in the future; however, the short to medium term outlook is bearish, at least as long as the price is trading below the bearish trend line seen on the chart and below the 200-period Exponential Moving Average on the 4-hour chart.

Support zone: 3500 (different exchanges may have different prices but charts look almost identical)

Resistance zone: 200 EMA (4-hour charts) and the bearish trend line

Most likely scenario: potential break of support – the market is choppy with a bearish bias

Alternate scenario: irregular volatility (sharp moves followed by flat price action); no clear breakout

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Ripple Flooded with Good News. Charts Don’t Show It

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Positive developments keep being announced by Ripple, yet somehow, they are not reflected in XRP’s charts.
Ripple Flooded with Good News. Charts Don’t Show It

Positive developments keep being announced by Ripple, yet somehow, they are not reflected in XRP’s charts. The latest announcement is that in a matter of weeks, Euro Exim Bank is set to begin using XRP-based xRapid for cross-border payments. The technology will be fully integrated and the bank plans to use XRP for payments across 80 countries.

Many of Ripple’s other partners are using the technology in some way, but so far none have opted to send international payments by exchanging their local currency in XRP. All in all, this is great news for XRP, but the impact will be best seen once Euro Exim Bank actually starts using it.

Chart Analysis – XRP/USD

Ripple’s XRP currently stands at 2nd place by market cap, behind Bitcoin and ahead of Ethereum, but has lost almost 12% over the last 7 days, trading at 0.326 (Bitfinex) against the US dollar.

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The pair broke the horizontal channel created between 0.40 and 0.35, and usually when the price exits such a pattern, it continues in the direction of the initial break. This makes us anticipate an extended period of downside price action, possibly headed towards the key support at 0.30. Even if that target is not reached, the bias remains negative as long as XRP is trading below 0.35.

Support zone: 0.30

Resistance zone: 0.35 and the EMAs to some extent

Most likely scenario: continued drop, minor upswings

Alternate scenario: RSI is moving up from oversold, so we may see stronger moves up

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Market Cap Shrinks, Ethereum Takes Another Blow Ahead of Constantinople Fork

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Since Jan. 10, the total market cap has shrunk from $138 billion to $118 billion and most cryptocurrencies have been sliding lower
Market Cap Shrinks, Ethereum Takes Another Blow Ahead of Constantinople Fork

Since Jan. 10, the total market cap has shrunk from $138 billion to $118 billion and most cryptocurrencies have been sliding lower, thus putting on hold all hopes of a Crypto Winter end.

Ethereum’s upcoming Constantinople hard fork is expected to bring substantial improvements to the network and is scheduled to occur at block 7080000, which is predicted to be confirmed on Wednesday, Jan. 16. Despite this good news, Ethereum has been dumping almost 24% over the last 7 days, with the majority of losses coming during the last 4 days.

Chart Analysis – ETH/USD

After reaching a high at 165 against the US dollar, ETH/USD tried several more times to break that barrier but failed to do so and tumbled into the support at $117, currently trading just 2 USD higher, at $119.

ETH/USD chart

There doesn’t seem to be any fundamental reason behind the drop (no piece of information that triggered it), so it appears this is a combination of Bitcoin correlation (BTC is also dropping and usually drags altcoins with it), technical reasons and maybe a pinch of the metaphorical FUD.

If the 117-barrier is broken, we can expect to see a further drop into the key psychological support at 100, but it must be noted that last time ETH hit 117, it jumped swiftly higher (albeit it was trading in a mini uptrend at the time). The Relative Strength Index is deep in oversold, but that alone is just an indication that a counter move will come later, not a buy signal.

Support zone: 117 followed by 100

Resistance zone: 127 and the 200 EMA (thick blue line on chart)

Most likely scenario: break of 117, potential move into 100

Alternate scenario: timid rally based on the oversold position of the RSI

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Every Ripple Price Prediction 2019 Says the Same Thing: XRP Price Might Reach 10$

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Ripple seems to be on the bright side, but will it reach $10? Read Ripple price prediction 2019 to find it out
Every Ripple Price Prediction 2019 Says the Same Thing: XRP Price Might Reach 10$
Contents

2018 was a truly successful year for Ripple: while other cryptocurrencies suffered in the never-ending bearish market fever, XRP managed to survive and even climb to the position of the world’s second cryptocurrency by the market cap. What will happen next? Here’s our Ripple forecast 2019.

Ripple background

Before we plunge into Ripple predictions, let’s refresh our knowledge of Ripple. This cryptocurrency is special: it has a different nature and destination, that’s why XRP has a higher potential than other tokens around.

Ripple was invented in 2012 by Arthur Britto, David Schwartz, and Ryan Fugger who founded the Ripple company. Initially, they used C++ project code and designed a network for real-time gross settlement and currency exchange. In 2013, Ripple Transaction Protocol (RTXP) was introduced: the new payment protocol allowed for instant money transfer between two parties.

Between 2014-2017, Ripple started putting a heavy focus on the banking market: RippleLabs experimented with an App for iPhone that allowed users to send and receive transfers. Since 2013, the Ripple protocol has been implemented by numerous financial institutions to offer an alternative remittance method for people.

German bank Fidor was the first to use the Ripple network to drive cross-border payments in part of 2014. Prominent banks followed its suite: Cross River Bank, CBW Bank, Earthport, HSBC and Bank of America were the next to reap benefits from Ripple.

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What makes it superb?

So, what makes Ripple stand out from the crowd of altcoins? First, it uses the consensus protocol instead of the proof-of-work system (used by Bitcoin and many altcoins alike). The protocol validates account balances and transactions in the network, improves the integrity and avoids the risk of double spending. Thanks to this protocol, a transaction is processed within 5 seconds, which is quite speedy.

Although transactions are made in the consensus ledger, there is still anonymity preserved because transactions aren’t linked to any account or ID. Other unbeatable advantages of Ripple include:

  1. Versatility: Ripple is easy to adopt, that’s why banks and financial organizations prefer it for performing their business operations.

  2. Exceptional transaction speed. Within 5 seconds, a transaction is settled, registered and verified. This is a significant improvement – Bitcoin takes 10 seconds to finish an operation, while a traditional wire transfer can take several days or even weeks.

  3. Low transaction fee: 0.00001 XRP is nothing compared to the cost of a cross-border payment.

The list of Ripple’s advantages is endless, but they all boil down to one simple fact: Ripple is the most efficient cryptocurrency for cross-border bank transfers.

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Factors defining Ripple price prediction

Although Ripple price prediction 2018 didn’t come true, and the coin hasn’t reached $1 yet, the vast majority of crypto experts are still very optimistic: some are sure the coin can reach the $5 threshold this year. Wonder if it’s possible? There’s a myriad of aspects that dispel doubts. So, what will trigger the growth of Ripple down the road?

Massive adoption by banking institutions

Ripple addresses the major banks’ problems: slow transaction processing speeds, high transaction costs, and lack of safety. Besides, it makes cross-border payments way more efficient than traditional payment providers.

Thanks to these facts, many financial institutions are eager to implement Ripple: the number of current partners has already exceeded 100 institutions. With so many influential supporters around, how can it fail? XRP price prediction is positive mostly due to the hype around corporations.  

What about individual traders? Will they get a piece of the pie? The rumor goes that XRP could be added to Coinbase, one of the largest and most popular trading platforms. XRP community is anticipating this even, and such announcement will be very bullish for the coin.

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Future partnerships

Since Ripple positions itself as the preferred distributed ledger technology for cross-border financial transactions, it’s being adopted by financial organizations around the world. Unfortunately, XRP price doesn’t rise correspondingly with the number of partners. Why so? Some crypto experts suggest that some companies do not utilize Ripple’s native XRP coin.

However, the future partnerships can make the most optimistic Ripple price 2019 forecasts true:

  1. The Flutterwave company. Flutterwave is an African firm that strives to bridge the gap between Africa and the global economy. If wants to utilize Ripple to create a payment infrastructure for completing this task. This partnership will open the gates to Africa for Ripple that’s used in other parts of the world. The xCurrent technology will enable instant payments in real time and is said to impact XRP price positively.

  2. Moneynetint, a UK e-money company specializes in international payments between corporate clients. It will process a huge amount of XRP, which is also great for XRP predictions. Here’s what Yishay Trif, the CEO of Moneynetint said:
    “Once we realized how professional the Ripple team was and supports the process, we decided to choose them. We expect that together we will be able to lead significant development and simplify processes in the area of cross-border money transfers. The processes of interfacing and approval between financial institutions, previously taking months or even years are now significantly reduced to a matter of days to a few weeks.”

  3. Changelly, a virtual currency exchange, will allow users to buy XRP using debit or credit cards. It’s possible thanks to SimplexCC credit card processor. The platform is encouraging people to invest in XRP, and many users will surely follow this advice now when buying crypto is made cheap and easy.

Ripple can boast a long list of current and future partners: dozens of financial institutions will be using the XRP token in 2019, so it’s logical to assume that Ripple 2019 value will soar.

It’s the fastest transaction processing platform

Until recently, Visa was the fastest company in terms of transaction processing speed. However, Ripple has overtaken the top position. After the latest upgrades, its system is able to process up to 50,000 transactions per second (Visa can process up to 24,000 TPS only).

Now Ripple offers the xRapid package: corporations subscribing for it can enjoy faster and safer transactions. Besides, it reduces the cost of currency exchange, which can save companies millions of dollars.

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There’s still much potential to realize. The Ripple team is also working on its Xpring solution:

At Ripple, we will continue to use XRP to make it perfect for entrepreneurs looking to solve problems across identity, trade finance, gaming and virtual goods, provenance, real estate, insurance, digital media, and many other industries. Xpring’s entrepreneurs and companies will leverage XRP for use cases like these, among others.”

Ripple price prediction 2019: Can XRP reach $10?

Judging by the above-mentioned facts, Ripple has no chances to short sell. The cryptocurrency should definitely undergo significant growth in this year. But how high can Ripple XRP go? Here’re a few Ripple 2019 forecasts from different sources:

  1. According to investinghaven.com, Ripple prediction is $20. This conclusion is based on fundamental and chart analysis combined. The forecast will be justified, if institutional money continues flowing to XRP, Ripple’s tech solutions promote using XRP, and the company continues growing its revenue.  

  2. Such websites as fxstreet and express.co.uk give moderate Ripple price predictions: they believe that XRP has enough potential to triple its value and reach around $3-$5 by the end of the year. This assumption is based on the fact that Ripple is the best investment opportunity of this year.

  3. Ripple coin news, one of the largest news websites, states that 2019 will be a smooth period for the currency, and new technologies together with new partnerships might help it to reach the price of $8-10 dollars.

  4. UsLifted, a crypto prediction website gives the following Ripple XRP price prediction: its specialists believe that by 2020, XRP can reach $22.79 with a circulating supply of 38,739,145,924 XRP.

  5. According to Coinswitch, XRP will reach about $1,20 in 2019.

  6. The Economic Forecast Agency claims that Ripple would fall further to $0.32 in 2019. This scenario might be real if the product will no longer be used.

  7. Metro, the Uk’s biggest newspaper publication states that Ripple would fall to $0.22-0.28. Why so? They suppose that Bitcoin will continue dominating the market and even reach $20,000.

Thus, the vast majority of companies are sure that Ripple won’t reach the $10 threshold, but $5 is a realistic sum. Even the value of $5 will represent 15x ROI, which is great.

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A fly in the ointment: Why Ripple price forecast can be false?

Are there any factors to hinder Ripple’s growth? Surely, the crypto community has a few concerns over the future of XRP.  

First, some claim that XRP has no real value because it’s not a security, e.g. it doesn’t represent the real company shares. But is it so bad? If Ripple shuts down, the XRP ledger will continue working the same way as before. Here’s what Brad Garlinghouse, the CEO of Ripple, commented upon it:

I think it’s very clear XRP is not a security. There is a whole number of reasons for that. If Ripple the company shuts down, XRP trades on over a hundred exchanges around the world and XRP would continue to trade. Ripple is one important participant in the XRP ecosystem but there are a whole bunch of participants.

Secondly, some crypto enthusiasts blame Ripple for going against the principles of cryptocurrency. While crypto is meant to be decentralized (which means no company can have control over it), Ripple Labs hold 50% of overall XRP supply. That hurts liquidity of the coin and can have a negative impact on its price.

Another sign of centralization is the consensus ledger approach that differs from Bitcoin standards. Ripple uses validated participants to verify operations – only pre-approved participants can verify transactions. This is another form of authority Ripple Labs have.

Thus, Ripple doesn’t play by typical rules – it has a centralized structure. Besides, the company puts a heavy focus on the payment tech rather than its cryptocurrency. However, if financial institutions don’t get discouraged by those facts, there’ll be nothing to stop Ripple from further growth. Just look at the list of supporters: it’s enormous!

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Bottom Line

How high can Ripple go? Considering the current Ripple achievements and the major companies it partners with, the predictions are mostly positive! Ripple Labs has already found a lot of supporters, they’re gradually implementing their tech all over the world and are working hard to live up to investors’ promises.

Our prediction is that Ripple can reach $3 in 2019: this assumption is based on the current Ripple developments. But please remember that no one can give you a 100% warranty: the world of cryptocurrency is very unstable and unpredictable, and things can change in a matter of a few days.

Do NOT invest more than you’re ready to lose. If you want to bet on Ripple, use the money you can allow living without.

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Best Bitcoin Mining Hardware in 2019: Prepare For Super-Powerful ASIC Miners

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In lieu of parroting about the death of crypto mining, U.Today takes an optimistic approach by reviewing the best Bitcoin mining hardware of 2019
Best Bitcoin Mining Hardware in 2019: Prepare For Super-Powerful ASIC Miners
Contents

The demand for Bitcoin mining hardware substantially dwindled in 2018 due to market woes but doesn’t mean that the multi-billion dollar industry is dead. Hence, U.Today takes a closer look at the most popular ASIC miners on the market as of January 2018.  

Top Bitcoin hardware manufacturers

Bitmain remains the biggest mining manufacturer with a market share of over 75 percent. However, its controversial IPO coupled with dwindling cryptocurrency prices put a damper on the chances of this juggernaut to remain at the top of its game.
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Halong Mining is a relatively new mining company that is also based in China. Notably, Halong is one of the most secretive mining companies in the crypto space given there is no information about their CEO, location or earnings, which eventually led to speculations that the company is a scam.   

Canaan Inc, which also expects to rake in more than $1 bln during its IPO, is yet another Chinese mining giant on the block.

Moving away from the armada of Chinese mining giants, it’s also worth mentioning BitFury (mining hardware and chips) that is based in the US.  

Picking the best Bitcoin mining hardware: beginner-level 

Avalon6


Canaan’s Avalon6 is a good entry point for those who are only making baby steps in the cryptocurrency industry. Here, we are dealing with one of the cheapest ASIC miners out there, which is rather simple to use on top of that. However, keep in mind that it only offers 3.5 TH/s of hash rate.  

In the US, the average cost of electricity currently stands at 12 cents. Considering this, you would get a $1.68 daily loss.
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Antminer S9

Antminer S9 is yet another Bitcoin miner that belongs in the ‘O.G’ crowd – this miner has long remained Bitmain’s flagship product that became ubiquitous in the crypto space. With a hash rate of about 12.93 TH/s, it also remains one of the most powerful miners out there, and one can say that S9 is truly the gold standard in today’s crypto space without any flowery.     
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When money is not an issue
Dragonmint 16T


Dragonmint 16T is the ambitious project that is supposed to disrupt Bitmain’s hegemony. At one point, that was one of the most powerful miners out there, boasting a staggering 16 TH/s hashing power. Halong Mining reportedly forked out $30 mln in order to produce this miner.
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Innosilicon Terminator3

Prepare for a monstrous hashrate with Innosilicon T3, the miner that definitely lives up to its ‘Terminator’ name. Apart from wowing miners with 43 TH/s, this ASIC, developed by Bitmain’s competitor Innosilicon, also strives to become the most efficient and, subsequently, the most profitable miner out there.
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Innosilicon Terminator3 is currently available for pre-order, which kicked off on Nov. Nov 11 with the minimum order quantity standing at three units (you will have to fork out $2279 for each). The first release of Innosilicon T3 is scheduled for January 2019.

In addition, you can also check out Innosilicon A9 ZMaster, which rivals Antminer Z9, one of the latest ASIC miners from Bitmain that is designed for Equihash-based currencies.  

Bitmain S15/ T15

Forget about Antiminer S9 – there are already more powerful miners in the Bitmain town. Give that a lot of competitors are already breathing down Bitmain’s neck, it didn’t take this mining giant too long to come up with its own next-generation 7nm miner - Bitmain S15, yet another gem in Bitmain’s crown.
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Earlier, Jihan Wu, the co-founder of Bitmain, gave a lecture in September where he claimed that the brand-new ASIC chip would be able to integrate more than a billion transistors with a ‘special circuit structure’ that could help the miner to reach the maximum level of efficiency.

Ebit E11+

Ebang’s E11+ is a more advanced successor of E10. With the hash rate of around 37 TH/s, Ebit E11+ stands out as one of the most powerful ASIC-miners out there, only lagging behind Innosilicon. It is worth mentioning that major currencies (Bitcoin, Bitcoin Cash), as well as some little-known altcoins (ACOIN, DEM), can be mined with this hardware.

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WhatsMiner M10

WhatsMiner M10 is an upstart on the block that became known to the world on Dec. 20. The plug-and-play Bitcoin miner offers a seamless mining experience with a 33 TH/s hashrate. The miner will set you back $1,475.
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However, Pangolin, a brand-new mining producer, also has a true beast up its sleeve – Whatsminer DCR. The behemoth of a miner, which you can currently buy for eye-popping $4,490, offers 48 TH/s, easily making Whatsminer DCR the most powerful miner on the market. Batch 2 ship date is scheduled for Jan. 10.  

GMO miner B3

GMO miner B3 is one more representative of the batch of future ASIC miners. It lags behind Innosilicon T3 in terms of maximum hashing power (B3 supplies you with 33 TH/s). Still, these miners are pretty much on par in terms of mining efficiency given that B3 has a lower level of power consumption.

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However, the Japanese mining behemoth recently made an announcement about shutting down its cryptocurrency sector due to falling cryptocurrency prices. GMO will continue its in-house mining business but it will stop selling its mining hardware. All miners are currently sold-out.

Additional accessories  


Apart from the miner itself, you have to buy additional devices:

  1. A power supply unit (PSU).

  2. A mining rig if you want to buy a couple of ASIC miners.

  3. A cooling system (although, some miners, such as Bitmain’s new water-cooled Antminer S9 Hydro, already have inbuilt cooling solutions).

  4. Internet bandwidth. It is commonly known that Bitcoin doesn’t require much bandwidth but mining rigs with a higher hash-rate will require a faster Internet connection.  

  5. Your computer. Just like in case with Internet supply, your computer is not of great importance given that your ASIC is used for computer power. Even Opteron won’t outperform a batch of S7 miners.

Is GPU mining dead?

GPU mining remains in the doldrums as of now, giving gamers a major cause for celebration. The ASIC monopoly has taken over GPU mining, putting an end to a democratized mining space. That explains why Nvidia and AMD have already left the market. Speaking of popular GPU choices, we still have to point out Nvidia GeForce GTX 1070 and AMD Radeon RX580 as the most profitable graphic mining cards. Moreover, you can currently purchase these at a super-cheap price as the mining difficulty continues to drop.
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CPU mining hasn’t been a thing since 2010. To put this into perspective, Antminer S9 has 1800 processing chips while high-end PCs only have eight corers.

Generally speaking, there have been three generations of Bitcoin miners:

  • CPUs;

  • GPUs;

  • ASICs.

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Mining hardware of the future

Having covered the mining hardware of the past, we are now getting down to the mining hardware of the future. Back in May, it was revealed that a lot of secret ASIC were built for Monero, making up almost half of the coin’s total hash rate. There are still superpowerful ASIC miners in the likes of ASICminer Zeon 180K that generate huge profits.
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While there are miners with monstrous hashrate (and most probably many ‘secret’ ASIC chips in the offing), there is one thing that becomes clear – crypto mining of future will be getting more and more centralized, but the expansion ASIC equipment could democratize this market.  

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