Darryn Pollock

Will November Be Another Big Bitcoin Rally?

November 2017 began a massive rally for Bitcoin, could 2018 see a similar situation?
Will November Be Another Big Bitcoin Rally?

Many will remember that around November last year Bitcoin began to blow up to a point where it reached near on $20,000 on Dec. 17. The rally took the cryptocurrency market to new heights in terms of price, and mass adoption.

Additionally, the rally also coincided with news of Bitcoin futures being offered up to institutionalized investors through the likes of CBOE and CME. It was this option for institutional investors to get into Bitcoin in a way they knew that help spur the price.

Now, in 2018, November could be shaping up in a similar manner as a few institutionalized occurrences peak their heads over the horizon. There is the perpetual ETF decision that looks like it could happen in and around November.

There are earlier applications, but many are putting their money on the Bitcoin ETF which will be rolled out by New York Stock Exchange's parent company, Intercontinental Exchange (ICE) on Nov. 5.

An ICEy ETF

There have already been a round of rejections from the SEC on Bitcoin ETFs. The Winklevoss twins have now been famously denied twice, having put in one of the first applications. There was also a band of nine ETFs that were recently denied by the SEC.

Of course, the SEC has not only denied ETFs, it has also said it will delay its decision on and ETF put forward by VanEck, called Solid X. Many have hope that this ETF will pass the SEC’s stringent requirements, however, a growing number are also eyeing ICE’s application.

ICE is looking to enter the cryptocurrency space in a big way, and with its traditional investing roots, could maneuver its way around the regulatory minefield that has been laid out.

In July, ICE revealed that it was launching a bitcoin and cryptocurrency platform called Bakkt in partnership with coffee chain Starbucks, software giant Microsoft, and Boston Consulting Group.  

The next big boom

The thinking is by a lot of cryptocurrency investors, that the ETF is the key to a new rally from Bitcoin. It was the case with futures in November last year from CME and CBOE, and the way things are playing out, it could be a repeat.

Two big name cryptocurrency thinkers have come forward and predicted Bitcoin to reach $10,000 in the near future.

Hermann Finnbjörnsson, founder and chief executive of bitcoin and cryptocurrency advisory firm Svandis has said:

“I believe that Bitcoin price will hit $10,000 by the first week of November. I think that there are a lot of reasons to be bullish on Bitcoin. There's Less than a one percent chance in my mind that Bitcoin won't succeed."

Michael Moro, the head of Genesis Capital VC company has also predicted Bitcoin to reach $10,000  but has said it is the hype around ETFs that has helped sink the price of Bitcoin currently as many people shorted Bitcoin on the fact that the SEC would deny so many applications.

A bad omen

While it is the traders and the investors who want to see a Bitcoin ETF, there are many different faces to the cryptocurrency ecosystem. Some do not want the ETFs to be approved, as they feel it will alter the technology and its adoption.

One such person who is against the ETFs is famed Bitcoin commentators and respected voice, Andreas Antonopoulos.

He said:

"I’m going to burst your bubble. I know a lot of people really want to see an ETF happen because 'to the moon, and Lambos,' but I think it is a terrible idea. I still think it is going to happen, I just think it is a terrible idea. I’m actually against ETFs. I think a Bitcoin ETF is going to be damaging to the ecosystem."

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Cryptotips George Shnurenko

5 Best GPUs For Mining Cryptocurrency in 2018

💡 Cryptotips
Which GPUs for cryptocurrency mining could help you save on costs
5 Best GPUs For Mining Cryptocurrency in 2018

Remember when cryptocurrency just came into the limelight and mining was seen as a thing for only a select few? Remember how they made it appear as though it is impossible for just anyone to become a cryptocurrency miner? Well, the rules have changed. Now, you just need to find out the best GPU for mining and the rest is history.

If you have a friend who keeps asking you for the best currency for GPU mining, you need to understand that Bitcoin or Ethereum mining is becoming a thing now and everyone wants a piece of the action. The meteoric growth has spurred a lot of people into action and now, the eventual decline is not enough to dissuade people. In fact, if you look at some of the best mining GPUs in 2017, you will notice a trend which many people adopted. You either go for the best or go home. 2018 won’t be an exception, let’s critically identify some of the best GPUs to mine.

Features of the best GPUs for mining in 2017

We shall first study some of the elements of the best GPU mining packages in the previous year. This will help us properly understand what informed their decision and how the mining was improved upon.

1. VRAM

Having two GB of graphics memory is no longer enough to load Ethereum network’s Directed Acyclic Graph (DAG). Ethereum, when it first emerged in 2015, started at one GB and the size increases at a rate of 750 MB yearly. We’re in 2018 now, this means that the best GPU for Ethereum mining should have a minimum of four GB of dedicated VRAM. If you insist on using two GB graphics card, the mining software will fail to work.

2. Hash rate or speed

This is one of the most important factors to consider before any other factor. This is the rate at which a graphics card can solve algorithms which make a block. The best GPU for mining in 2017 had very high hashrates, and this caused faster mining times and increased coin rewards. This hashrate is measured in hashes per second and for extremely powerful GPUs, Mega-hashes per second is used (MH/s). This implies that at least, a million hashes are being completed per second. We can also have Giga-hashes and Tera-hashes.

3. Bus width of the best Bitcoin mining GPU in 2017

The bus width is the factor which states the amount of memory chips which can be used on a card. As you know, the performance of a card is determined by its memory, so you need a higher bus width. For instance, a GPU with a 256-bit bus can only accommodate a minimum of eight memory chips and one chip will have a width of 32-bit. If you want something more, chips with a double memory capacity boast 16 memory chips. It is shared between the front side and back end of your card.

4. Power consumed by cryptocurrency GPU mining card

Have you ever considered what the best GPU for mining Ethereum will be? Let me give you a hint- the right card will consume less power. If you want to be assured of a steady inflow of cash, your miner should be running constantly. This can make your running cost become exorbitantly high, especially if your card is not energy efficient. The best GPU for Scrypt mining in 2017 prioritized power consumption- you should consider doing the same.

5. Cooling

After power consumption, the last thing you want is for your GPU to be constantly hot. Apart from the fact that it’ll make the whole environment unbearable, it will hinder the optimal working of your graphics card. Go for GPUs which have an open frame design which allows it to become cool, or get cards which are designed with a plethora of fans for cooling.

Now, let’s get to it. What are the best GPUs for mining Ethereum and Bitcoin in 2018?

5 Best GPUs For Mining

AMD Radeon RX 470

This machine is powerful and it executes its duties perfectly. The best thing about this machine is that even if the conditions are not optimal, this GPU will still perform excellently. It is power efficient, with the latest AAA graphics, and is also compact. When it was being built, compatibility with certain PC was checked and this accounts for the sturdy, compact form. It is almost noiseless and the heat produced is reduced too.

Pros of AMD Radeon RX 470

  • It offers full HD performance

  • The power efficiency is excellent

  • It offers adequate memory- the best for its price

Cons of AMD Radeon RX 470

  • It is quite expensive

AMD Radeon RX 480

When the HTC and Oculus Rift specs were released, this was one of the first graphics cards to grace the market. It has rapidly evolved from a gaming graphics card to one used for cryptocurrency mining. AMD used this card to migrate from the erstwhile Graphics Core Next 3 to Graphics Core Next 4 (Polaris). They increased the number of transistors without increasing the amount of power consumed. It also boasts a single fan which spins under load. Even though the noise is on the high side, it is totally bearable.

Pros of AMD Radeon RX 480

  • It offers a great overall performance

  • It works at high speed

Cons of AMD Radeon RX 480

  • It is quite noisy

AMD Radeon RX 580

It is classified as a mid-range card. i.e., it allows you to mine coins without hitches with a clock speed which is slightly above average (1340 MHz). This is an amazing GPU for mining Ethereum. It also has dual fans which work or stop according to the load being supported. One thing to note, though, is that the cards are not as compact as the previous 480 version.

Pros of AMD Radeon RX 580

  • It offers an amazing HD quality

  • It can be customized to your taste

  • It offers quality for its price

Cons of AMD Radeon RX 580

  • It consumes power

  • The cards are not as compact

AMD Radeon R9 Fury X

Every single element of this GPU is turbo-charged and optimized for speed, quality of performance, and power efficiency. Rather than an air-based system, they employ a water-cooling technology and it seems to work well for them. It also allows you to mine for as long as you want.

Pros of AMD Radeon R9 Fury X

  • Water-based cooling technology ensures that it works perfectly well

  • It has a memory capacity which allows optimal performance

Cons of AMD Radeon R9 Fury X

  • It can be difficult to cool with water

Nvidia GeForce GTX 1050 Ti

This is the best GPF for mining Ethereum. It is efficient, offered at a great price, and it works well with any system in need of increased computing and mining performance. The design is based on its Pascal GPU design and not only does it support cryptocurrency mining, it is great for VR gameplay. Before we forget, it has a clock speed of 1760 MHz.

Pros of Nvidia GeForce GTX 1050 Ti

  • It has a very quiet operation

  • It is energy efficient

  • It is able to execute virtually every mining operation

  • The performance is excellent in its price range

Cons of Nvidia GeForce GTX 1050 Ti

  • The compatibility with every PC is not assured

Comparison of GPU for mining cryptocurrency

S/N

GPU

Hashrate ZEC

hashrate ETC/ETC

Power Consumption

Efficiency ZCash (Sol/w)

Efficiency Ethash (MHS/W)

1

GTX 1050 Ti

155 Sol

13 MH/s

75 W

2.06

0.173

2

RX 580

475 Sol

28 MH/s

180 W

2.63

0.153

3

RX 480

300 Sol

29 MH/s

150 W

2.00

0.190

4

RX 470

250 Sol

24 MH/s

120 W

2.08

0.200

5

R9

385 Sol

17 MH/s

190 W

2.02

0.200

Conclusion

We have assiduously covered the best GPU for mining cryptocurrency. As regards the best cryptocurrency to mine with GPU, it is important to note that some currencies are easier to mine than others, however, we should always consider the return on investment. Mine cryptocurrencies which are more widely accepted.

Cryptotips
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Joseph Young

Bitcoin, Cryptocurrencies Not a Threat, Rules G20, But Mark Carney Still Cautious

G20 Summit has agreed not to impose additional regulations on the global cryptocurrency market, as it does not view it as a threat to financial stability
Bitcoin, Cryptocurrencies Not a Threat, Rules G20, But Mark Carney Still Cautious

 

G20, an international forum for the governments and central bank governors from 20 major economies, has decided not to impose additional regulations or restrictions on the global cryptocurrency market.

The Financial Stability Board (FSB), a global financial watchdog led by chair Mark Carney, the Governor of Bank of England, released a statement citing the letter of Carney stating that cryptocurrencies like Bitcoin are not a threat to the global financial system, with an emphasis on the lack of necessity in adding strict regulations for the cryptocurrency market.

“The FSB’s initial assessment is that crypto-assets do not pose risks to global financial stability at this time. The market continues to evolve rapidly, however, and this initial assessment could change if crypto-assets were to become significantly more widely used or interconnected with the core of the regulated financial system. For example, wider use and greater interconnectedness could, if it occurred without material improvements in conduct, market integrity and cyber resilience, pose financial stability risks through confidence effects,” the report of FSB read.

Carney’s letter

But, the personal letter of Carney submitted to the G20 summit noted that cryptocurrencies could have a negative impact on the global financial system if the market grows without significant improvements in market integrity and cyber resilience.

Carney wrote:

“Wider use and greater interconnectedness could, if it occurred without material improvements in conduct, market integrity and cyber resilience, pose financial stability risks through confidence effects.”

Existing regulations sufficient

In essence, Carney, FSB, and participants of the G20 Summit believe that existing regulations on the cryptocurrency market, which are relatively strict in leading markets like the US and Japan, are sufficient to prevent money laundering and illicit operations given the Know Your Customer (KYC) and Anti-Money Laundering (AML) systems employed by licensed cryptocurrency exchanges.

However, Carney explained that if market integrity and cyber resilience are damaged in the long-term through large-scale hacking attacks as seen in the case of Coincheck, cryptocurrencies could pose a threat to the global financial system and the industry will need to be regulated in a more strict manner.

As of current, the global cryptocurrency market has not had a profoundly negative impact on the global financial system, given that large-scale security breaches have been resolved through corporate funds and the liquidity of cryptocurrencies has continued to increase over the past few years.

The letter released by Carney demonstrated a rather conservative and cautious tone, in comparison to the statements Carney had made in the past.

Earlier this year Carney requested governments to strengthen regulations on cryptocurrency trading to terminate the era of “cryptocurrency anarchy.”

New restrictions

Strong efforts to restrict the cryptocurrency market, which has already evolved into a $300 bln industry, would lead to global financial instability, which defies the interest of Carney, the Bank of England, FSB and G20.

It would be more beneficial for leading economies and governments to embrace the cryptocurrency market and utilize existing regulations to better facilitate the increasing demand for cryptocurrencies, which have evolved into a newly emerging asset class.

Already, in the US and Japan, two of the largest cryptocurrency markets, cryptocurrency exchanges have received licenses to operate as financial institutions.

In Japan, the government has introduced a licensing program for local trading platforms to ensure that each exchange is compliant with KYC, AML, and other financial policies.

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Cryptotips George Shnurenko

How to Hack Bitcoin: All Possible Ways

💡 Cryptotips
From phishing to Trojan transfers, here are all major ways to hack your Bitcoin
How to Hack Bitcoin: All Possible Ways

Bitcoin and other cryptocurrencies took the world by storm in the recent Blockchain boom. It was all over the news and everywhere people talked and traded Bitcoin.

However, when it comes to the security aspect, Bitcoin users don’t have a second thought before pointing out that the cryptocoin can’t be hacked. But, quite unfortunately, that’s not exactly the case as the hackers have been able to steal away Bitcoins worth millions of US dollars over the years.

And, if you are also interested in finding out how to hack Bitcoin or how to hack someone's Bitcoin wallet, here we have listed all the possible options that you can try. Let’s find out.

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1.       Stealing the private keys

Before getting into the details of how to hack Bitcoin wallet, you should first understand that Bitcoin is nobody’s property.

Blockchain, the Bitcoin public ledger, maintains a record of all the addresses and a certain value is then attached to the particular key that identifies each record.

So, when someone owns Bitcoin, what they actually have is the private key for unlocking a particular address on the Blockchain.

These keys are stored both online and offline in so many different ways and each of them has a certain security level. Nevertheless, they all are vulnerable because, as you want to know how to hack a Bitcoin wallet, all you have to do is to somehow access that characters string which forms the private key.

Most of the times, it’s the online services being responsible for storing private keys that get attacked. Sheep Marketplace is a perfect example of such service providers. Mostly, it’s the insiders who carry out such attacks as they don’t even need to know the hacking thing at all. All they need to do is to copy the entire database containing private keys to own the Bitcoins located on all the addresses stored in the database.

You can also do the same if you’re an insider and know how to break into the database. And, once you do, you’ll be able to spend all the Bitcoins anywhere you like.

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2.       Keyloggers

It’s the malware that records the keystrokes of the users and sends it all to the hacker. It is almost impossible to detect these programs and you might even have it running on your smartphone or computer right now without noticing it at all.

They copy every seed, password and pin that you type and can turn out to be an effective answer to the question how to hack a Bitcoin faucet. They can really provide hackers an easy gateway to all the bitcoins they want to hack.

Usually, there are three different options available for installing keyloggers. They include:

·         Send it as an email attachment that could be anything like an exe file or a pdf

·         Create a malicious site for installing the software

·   Distribute it by loading onto a USB and then dropping them off at some Blockchain/Bitcoin conference. The malware will simply be downloaded to one’s computer as they insert the USB for checking out what’s in there.

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3.       Fake wallets

Another cool option you have to answer how to hack Bitcoin wallets, this one gives you a more sophisticated way of achieving your goal. It also needs you to do some work on your part as these fake wallets are simply the apps which resemble genuine wallets but are meant to steal the Bitcoins away.

These apps typically use official logos and everything else of existing Bitcoin wallets for tricking the users and stealing the Bitcoins away. These fake wallets are a routine thing both on Apple and Android App Stores.

4.    Bitcoin miner malware

For those looking to find out how to hack Bitcoin faucet, another option is to rely on some Bitcoin miner malware.

Every Bitcoin that gets mined makes creation of the new Bitcoins harder. You need electricity for running and cooling down those ‘miner’ computers. And with electricity being a major operational cost for Bitcoin miners, many of them borrow resources for mining Bitcoins. They usually do so by spreading the Bitcoin mining malware.

Today, Bitcoin is simply mined through the biggest Bitcoin malware botnets. Though they don’t have any negative intentions, still the use of a computer this way is not authorized as they tend to hijack the online video equipment and the victim bears all the cost. As a result, the hijacked computers are also slowed down as well.

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5.       Bitcoin phishing

Want to know how to hack Bitcoin accounts, why not try Bitcoin phishing? It’s a popularly known method for information theft which relies on fake websites or emails for tricking users into providing their private keys.

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6.       Impersonating as Bitcoin recipients

Another option for you is to impersonate as a Bitcoin recipient. Lately, most Bitcoin hacking happened when the companies held fundraising events in the form of ‘initial coin offerings’ asking investors to send bitcoins to them. Now, that’s where you get the answer to the question how to hack a Bitcoin address.

Clever hackers can impersonate as companies looking to receive the Bitcoin by setting up fake websites and persuading investors to send them Bitcoins worth millions of US dollars in their own Bitcoin wallets rather than the ones being used by the actual companies. And, once the Bitcoins are transferred to their wallets, there’s no coming back.

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7.       Stolen value stores

The value of cryptocurrencies is usually stored in the file stores called wallets. However, these wallets can sometimes be manipulated, compromised, transferred and stolen similar to any other value store we have on our computers.

What’s even worse is that people tend to forget the protective passwords or their hard drives keeping the store get stolen which renders these value stores to become inaccessible forever. The same sort of issues can be caused by Ransomware. And, once this happens, it’s not possible to access the wallet using another computer.

Now, that’s what hackers usually take advantage of. In fact, a popular question among hackers last year was how to hack Bitcoin wallet 2017. Even today, hacking attempts are made on the online wallets and many even get successful. So, if you’re also trying to achieve the same, you can also give it a try.

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8.       Transfer Trojans

Another option available to those looking to find out how to hack a Bitcoin address is to transfer Trojans and simply get Bitcoins transferred to their personal wallets. The cryptocurrency Trojans are meant to monitor computers and wait for anything that looks like a crypto account number.

And, as soon as they spot one, they take action and replace user’s intended account from that of the hacker and as soon as the user hits that ‘Send’ button, all the funds are transferred to the account of the hacker. Again, there’s no recovering from this either.

So, these are all the possible ways to hack Bitcoin. In fact, more of them can be discovered as hackers continue their attempts to steal away Bitcoins from their owners.

Cryptotips
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David Dinkins

What Lightning Network Means for Bitcoin Scalability

Bitcoin’s developers are pinning their scalability hopes on an off-chain solution called Lightning Network.
What Lightning Network Means for Bitcoin Scalability

Bitcoin’s developers have been investigating scaling solutions for several years, and when they finally settled on a combination of SegWit and Lightning Network, the community was bitterly divided. With the fork of Bitcoin Cash and the death of the potential SegWit2x fork, it seems like the majority of “big blockers” have left the community, leaving the path open to implementing Lightning Network (LN).

Payment channels

LN uses a concept called “payment channels” which enable transactions to be made outside of the Bitcoin Blockchain. All these “off-chain” transactions are eventually aggregated, and the net changes are posted to the Blockchain. To make this easier to understand, consider what happens if you are trading on an exchange.

Let’s say you start with 10 BTC, then you earn 2 BTC by trading, then you earn 4 more BTC from another profitable trade, and finally you lose 1 BTC in a bad trade. The exchange doesn’t actually make three Blockchain entries; instead, the exchange waits until you decide to withdraw your funds and then creates only one transaction on the Blockchain. Instead of making three entries on the Blockchain for +4 BTC, +3 BTC and -1 BTC, the exchange would send you +6 BTC in a single transaction.

This is also similar to what happens when you use your credit card. Banks don’t actually send each other millions of small transactions each day. Rather, at the end of the day, banks aggregate the total debits and credits and settle their accounts with each other in a single transaction.

Criticisms

Lightning Network has its critics, though. Some have argued that the use of LN defeats the purpose of the Blockchain. By taking most transactions off-chain, you no longer have a universal, auditable ledger. Supporters argue that LN is an optional feature, so nobody will ever be required to use it. People who want to send Bitcoin to each other in the same way as before, directly on the Blockchain, can still do it.

Other critics think the idea won’t really allow Bitcoin to scale that much, because payment channels won’t save that much space on the Blockchain. They contend that most people don’t regularly transfer value back and forth between the same parties multiple times. If Bob sends Alice 1 BTC, and the two parties never transact with each other again, then the use of LN would not have saved any space on the Blockchain. LN only really shines when two or more parties transact with each other repeatedly.

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Cutting Supermarkets Won’t Be Easy: Past-ICO Review

👁 ICO Watch
A future world without grocery stores? Probably not, but one company wants to challenge the paradigm
Cutting Supermarkets Won’t Be Easy: Past-ICO Review

INS Ecosystem is attempting to reinvent the grocery business by selling directly to the consumer and cutting out the middleman, who in this case is the supermarket that all consumers have come to shop at.

Blockchain technology is already being tested by major retailers such as Walmart partnering with IBM to use Hyper Ledger to track products all the way through the logistical supply chain.

Financials

INS Ecosystem raised $41 mln between Dec. 4 and 24 during the ICO in 2017. The token entered the market at $8.16 on Jan. 12, 2018 and has fallen to $.50 at the time of writing. This is, in part, due to the fact that it is a utility token and debuted when the market was on a major bull run.

During that time any ICO or crypto was being bought up because all prices were increasing no matter what they were. After the run ended, prices began to level out, even if it meant that the fell through the floor.

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Almost ready to launch

According to the roadmap, the testnet launch is only a few months away in Q4 2018. Once the testnet is up and the bugs are worked out, the company plans to deploy further geographically. Reading through the company’s blog, there seems to be a lot of partnerships forming with companies that are producing food for consumers. One example is Soulfresh, Australia’s organic and natural food and beverages company, which has signed up with INS Ecosystem’s direct-to-consumer movement. Another, Drink me Chai, a family-run UK company with a love for chai latte, has also partnered with INS Ecosystem. These are just a few of the examples of the growing number of partnerships.

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Team

Peter Fedchenkov- Founder

Previously with Goldman Sachs and IBM.

Dmitry Zhulin- Founder

Experienced venture capital and private equity professional with a focus on retail and e-commerce. Five years of investing experience in Bitcoin and crypto-assets. Previously with VTB Capital Private Equity, Rothschild and PwC.

Pavel Scherbinin- CTO

Architect and engineer with specialization in security and cryptography and more than 10 years’ experience in development of large-scale highload systems. Previously was a Chief Technology Officer at Mail.Ru Group.

Dmitry Khovratovich- Blockchain Developer

Khovratovich has more than four years experience in blockchain technology and smart contracts. He is a recognized expert in cryptography and security (12 years, 2,000+ citations). Designer of Argon2 (the winner of the Password Hashing Competition) and Equihash.

Known advisors

  • Sebastian Stupurac - Wings
  • Eyal Hertzog - Bancor
  • George Li - We Trust
  • Ilya Perekopsky - Telegram
  • Milo Sprague - Silicon Valley Bank
  • Dr. Rawi Abdelal - Harvard Business School

Potential remains

While the token price has crashed hard since it debuted at the start of the year, that is not holding back the company by any means. There is a strong team and an even stronger advisory board backing them. The service that the company wants to provide is also very interesting because it has the potential to upset the grocery store business by selling direct to consumers at lower prices. 

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