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EasyMINE: Altcoin Mining for Everyone – Coin Idol (press release)

Jun 21, 2017 at 13:19 // News

Can mining cryptocurrencies be made as simple as operating a TV or a cell phone? A team of blockchain enthusiasts from Poland believe soand are determined to prove it with easyMINE, an advanced yet user-friendly altcoin mining platform.

Designed with both beginners and experienced miners in mind, easyMINE is a product of its creators strong belief that cryptocoin mining does not need toand in fact should notbe an arcane craft accessible only to the select few. The comprehensive, all-in-one package provides all the software components needed to build and operate a small- to medium-sized mine. Its real strength, however, lies in ensuring that every step of the processfrom initial setup, through routine management, optimization, and maintenance, to troubleshooting and emergency proceduresis not only streamlined, but also highly automated. The result is a mining platform robust and flexible enough to satisfy the needs of the adept, and accessible even to complete beginners.

The idea grew out of our own frustrations of running an altcoin mine, explains easyMINEs co-founder and CEO ukasz eligowski. He continued:

So much of it is just repetitive technical minutiae. The setup for every new rig. The trial and error for each new combination of hardware and firmware. The performance-tracking and record-keeping. After a while, we started asking ourselves, Isnt there a way to automate all this?

The team evaluated several available options, but found them lacking. Unfazed, they set out to develop their own solution. The product of their labors is a system built specifically to keep the mining equipment operating at peak efficiency and profitability while requiring noor minimumhuman oversight. EasyMINE will keep everything up and running, fix any problems it can, and alert you to the ones it cant, says co-founder and CFO Andrzej Belczak. Its like having full-time mine supervisor on your payroll.

The complete easyMINE suitethe Linux-based eMOS operating system, mining software, and a custom remote configuration and management dashboardwill be distributed as a downloadable package, ready for immediate use. In the autonomous mode, it will require no additional setup. The system will automatically configure the hardware and software, monitor the equipment, and optimize performance by dynamically adjusting the settings: from voltage and clock timings to currency and mine pool selection. In the manual mode, easyMINE will provide a wide range of configuration and management tools, including on-the-fly BIOS flashing, performance history and analysis, energy use metrics, and report generationto mention just a few.

Currently in the alpha stage, the eMOS operating system and the eM dashboard will enter beta testing in the fourth quarter of 2017. Full release is scheduled for 2018. To fund the project, the team will hold a 30-day crowdsale event. The initial coin offering is planned for this summer.

For more information, visit the project website at: https://easymine.io

Disclaimer. This article is provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company. CoinIdol shallnotberesponsibleor liable,directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services mentioned in this article

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How big is bitcoin, really? This chart puts it all in perspective … – MarketWatch

Not all money is created equal.

Bitcoin burst into our financial consciousness like a fiery comet, setting the internet ablaze with visions of upending the existing global money system. Yet, by its nature as a cybercurrency, whose legitimacy only exists in the ether, its credibility leaves much room for debate.

HowMuch.net on Wednesday put things into perspective and demonstrated that for all the buzz and excitement bitcoin has generated, it still has a long way to go to be even remotely relevant.

The current value of all the bitcoin in the world is worth about $41 billion, according to the cost-estimating website.

That is undoubtedly more money than most Americans will ever see in their lifetime. But when it comes to bragging rights, bitcoin really is the poor relation.

Also see: Teenage bitcoin millionaire can see the cryptocurrencys value shooting as high as $1 million

As the HowMuch chart shows, the fattest bubble is for all the money in the world including bank deposits which comes out to $83.6 trillion.

See larger chart

The second biggest is for all the stocks trading across the globe, totaling $66.8 trillion, and more than double all the physical money in the world.

A run towards or away from stocks would thoroughly deregulate the global economy, and nothing more dramatic than a minus sign in front of that amount would lead to the collapse of global civilization, said Raul Amoros at HowMuch.net.

For all its glitter, the total value of gold is a distant fourth, at only about $8.2 trillion, while U.S. dollars in circulation add up to $1.5 trillion.

The next bubble is for Apple Inc. AAPL, +0.59% valued at about $730 billion, followed by Amazon.com Inc. AMZN, +0.97% at $402 billion.

Meanwhile, the value of all the cryptocurrencies in existence, such as Litecoin and Monero, checks in at $100 billion, slightly ahead of Bill Gates MSFT, +0.51% who claims a net worth of $86 billion as the richest man in the world.

Larry Page, co-founder of tech giant Google GOOGL, +0.99% and the 12th-richest on Forbes billionaires list, alone is worth all the bitcoin floating around in cyberspace, with a net worth of $41 billion.

Money is about trust. Hence, the U.S. dollar DXY, -0.05% as the monetary representation of the biggest economy in the world is also the reserve currency of choice for many foreign governments.

As of yet, bitcoin does not enjoy that level of respect given its wild swings recently. Nonetheless, the rise of cryptocurrencies in of itself suggests that people may be slowly losing faith in money and other traditional measures of wealth, according to Amoros.

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Bitcoin Looks a Lot Like an Early Amazon – Investopedia

Investopedia does not provide tax, investment, or financial services. The information available through Investopedias Advisor Insights service is provided by third parties and solely for informational purposes on an as is basis at users sole risk. The information is not meant to be, and should not be construed as advice or used for investment purposes. Investopedia makes no guarantees as to the accurateness, quality, or completeness of the information and Investopedia shall not be responsible or liable for any errors, omissions, inaccuracies in the information or for any users reliance on the information. User is solely responsible for verifying the information as being appropriate for users personal use, including without limitation, seeking the advice of a qualified professional regarding any specific financial questions a user may have. While Investopedia may edit questions provided by users for grammar, punctuation, profanity, and question title length, Investopedia is not involved in the questions and answers between advisors and users, does not endorse any particular financial advisor that provides answers via the service, and is not responsible for any claims made by any advisor. Investopedia is not endorsed by or affiliated with FINRA or any other financial regulatory authority, agency, or association.

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Bitcoin And Ethereum Crash: For A Few Minutes – Seeking Alpha

Source

Many investors are wondering why Bitcoin (Pending:COIN) and Ethereum are down after such a string of good news. Bitcoin’s scaling issues look like they will be resolved amicably through Segwit2x, and this was expected to be a significant boost to the entire cryptocurrency space.

However, things did not go as expected. While Bitcoin’s consensus-driven rally did materialize – taking the asset to almost $2800 – Bitcoin’s rise came with a brief decoupling with Ethereum. The two assets are normally hugely correlated. But at around 4:30-6:20 pm EST on the 20th of June, they briefly moved in opposite directions.

Ethereum, along with Bitcoin, then proceeded into a sharp downward correction. The Ethereum market, in particular, seems to have fallen victim to a flash crash that took it almost to the single digits before shooting back to around $330. This article will analyze what occurred on the 21st to figure out how this development affects the long-term investment thesis for both digital assets.

The Problem

Ethereum’s problems started with the Status ICO. I briefly mentioned how this event was a fundamentally bullish catalyst for Ethereum. This expectation was predicated on the fact that investors are required to buy Ethereum to invest in status – thus driving up demand for Ethereum.

As expected, the Status ICO was hugely popular. In fact, it was so popular that it seems to have congested the system leading to extremely long transaction wait times and exposing what many believe are potential scaling issues in the Ethereum network.

The problems with the Status ICO seem to have started a chain reaction of negative market sentiment that affected the entire “cryptoverse,” including Bitcoin. High transaction volume for the Status ICO as well as what looks like panic selling briefly crashed the popular Coinbase exchange.

To make matters worse, there was a “flash crash” – the price of Ethereum briefly dipped to unimaginable lows, liquidating margin positions and filling buy orders for as low as $13 according to anecdotal reports.

Source

No one is sure what caused this flash crash – but it appears to be limited to the Coinbase/GDAX exchanges and there has been little impact on trading in other regions – especially Asia where the prices for both Bitcoin and Ethereum continue to trade for a significant premium over the west.

The most interesting thing about this event is that many investors are claiming that “unrealistically low” buy orders – for prices often around 90% less than the real price – were filled during this event. Needless to say, many people made a lot of money.

Looking to the future

The Civic ICO is currently underway, and investors who are interested in participating will need to do so through Ethereum, thus providing further support for prices going forward.

On top of this, as the dust from the Status ICO settles, transaction volume should calm down on the exchanges and bolster the usability of the network. The flash crash was an anomaly and should not be seen as an indictment against Ethereum. Instead, investors should avoid unstable exchanges and strongly avoid trading digital assets on margin until the online infrastructure is more sophisticated.

I expect the Asian market to boost Ethereum prices over the next twelve hours because this region is probably not as affected by the events on U.S exchanges.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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Bitcoin millionaire Erik Finman says going to college isn’t worth it – CNBC

Finman began investing in bitcoin in May 2011 at the age of 12, thanks to a $1,000 gift from his grandmother and a tip from his brother Scott.

Though he’s close with his family which he calls the “Elon Musk version of the Kardashians” growing up in “small town” Idaho outside of Coeur d’Alene wasn’t easy. Finman was especially frustrated with his high school teachers, and begged his parents to let him drop out at 15.

“(High school) was pretty low quality,” he said. “I had these teachers that were all kind of negative. One teacher told me to drop out and work at McDonald’s because that was all I would amount to for the rest of my life. I guess I did the dropout part.”

Surprisingly, his parents who met pursuing their Ph.D.s at Stanford agreed. Finman sold his first bitcoin investments at the end of 2013, when they were valued at $1,200 a piece.

With the $100,000 Finman launched an online education company called Botangle in early 2014 that would allow frustrated students like him to find teachers over video chat. He also used the funds to move to Silicon Valley, did some fun things like meet Reddit co-founder Alexis Ohanian and traveled.

“I really liked Colombia,” he said. “It was fun, but a little sketchy. Some interesting stuff happened. I was held up at gunpoint there, which is pretty scary, but I have this emergency button I programmed in Android that puts you on speaker but turns off audio automatically and dials [a local emergency number].”

“Maybe I’ll turn that into an app,” he added. “It’s handy.”

It was hard getting people to take a 15-year-old tech entrepreneur seriously, Finman admitted. He recalled being called in to interview with a “really, really high-up” unnamed Uber executive, who instead of listening to his Botangle pitch discouraged him and told him he would never win the bet with his parents.

Eventually he found a buyer for Botangle’s technology in January 2015. The investor offered either $100,000 or 300 bitcoin, which had dropped in value at that time to a little more than $200 a coin. He took the lower cash value bitcoin deal because he believed it was “the next big thing.”

“My parents asked ‘Why don’t you take the more cash?”‘ Finman explained. “But I thought of it more of an investment.”

Since then, Finman has been managing his family and his own bitcoin investments. He’s also kept busy on other projects, including working with NASA to launch a rocket through the ELaNa project. One thing he won’t do is go back to school.

“I never got my GED, and I don’t see the value in it,” Finman said. “The purpose of that would be to get another education level and get a job. I had to learn through running a business. Instead of writing essays for English class, I had to write emails to important people.”

Although the rest of his family has degrees his brother Scott went to Johns Hopkins at 16 and now has an enterprise software company, while his other brother Ross went to Carnegie Melon at 16 for robotics and is now pursuing his Ph.D. at MIT he’s happy learning about the real world from experience.

“The way the education system is structured now, I wouldn’t recommend it,” Finman said. “It doesn’t work for anyone. I would recommend the internet, which is all free. You can learn a million times more off YouTube and Wikipedia.”

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Nvidia Bear Now Bullish on Cryptocurrency Mining | Investopedia – Investopedia

Chipmaker Nvidia Corp. (NVDA), which has had a good run in the stock market this year, just added another Wall Street bull to its corner thanks to the rise of cryptocurrency and the need for high-end graphic cards to mine the digital currency.

Pacific Crest Securities, which downgraded Nvidias shares a couple of months ago, reversed itself Tuesday, raising its rating to sector weight from underweight all because of cryptocurrency such as Bitcoin. “Meetings with desktop graphics card manufacturers indicated a sharp reversal in sales trends expected for the seasonally weaker 2Q, with surging demand from cryptocurrency miners in China and Eastern Europe,” analyst Michael McConnell wrote in a research note to clients Tuesday that was covered by CNBC. “The sharp increase in demand from cryptocurrency miners has rapidly depleted excess channel inventory carried into the quarter.”

The analyst also pulled his $99 price target on shares which closed at $157.09. NVDA stock is up more than 55% since the start of the year and, as CNBC pointed out, is about 45% higher since Pacific Crest Securities downgrade it in early April. (See also: Why AMD and Nvidia Are Poised For Their Biggest Drops.)

Pacific Crest isnt the only Wall Street firm that is bullish on Nvidias prospects. People mining for the coins use high-end graphic cards, with Nvidia and Advanced Micro Devices Inc. (AMD) seeing the most demand. The computer-created coins can either be held or sold for a profit. (See also: What is Bitcoin Mining?)

Earlier this month, RBC Capital analyst Mitch Steves was prompted to reiterate his outperform rating on shares of the chipmaker after running a “thought test” to see how its graphic processor compared with AMD’s. Using the GTX 1070, a graphic processor Nvidia introduced last year, and putting it up against AMDs Radeon 580 semiconductor, the analyst set out to see how the chips would perform while mining for Bitcoin and Ethereum, two popular cryptocurrencies. Based on his experiment, Steves found there isnt much difference between the two while mining for Ethereum, but while building a data center environment for Bitcoin, where the cost of electricity becomes more important, the older Nvidia chip performed better than the AMD processor over the course of a year.

With the price of the two currencies skyrocketing in recent weeks, it is not surprising analysts are getting more bullish. Pacific Crest warned in the research note the euphoria could be short lived. “In terms of demand sustainability from the cryptocurrency market, desktop graphics card manufacturers are skeptical, referring to the one-quarter demand surge in 2013, which was followed by an inventory correction,” McConnell wrote. “Most desktop graphics card manufacturers surveyed expect strong demand to last until late-July or August, but visibility is extremely low given the volatility in cryptocurrency prices.”

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Ether is King of Cryptocurrency For Now – Futurism

Ethers Rise

Bitcoinhas achieved record highs this year: currently, its worth almost three times as much as it was for most of January. Even so, Ethers success this year is eclipsing Bitcoins, given that Ether has risen an unbelievable 4,500 percent in 2017. When we rang in the new year, Ether was worth only around 5 percent as much as Bitcoin, but as of this week, The New York Times reports that outstanding units of the Ether currency were worth around $34 billion. . .82 percent as much as all the Bitcoin in existence.Click to View Full Infographic

Ether is now backed by not only the usual tekkies, but major corporations such as Accenture, Microsoft, Toyota, Intel, and JPMorgan Chase. These companies are becoming part ofEthereums planned global computing network(which will require Ether to use) on the ground floor. Furthermore, Ethereum is gaining traction among cryptocurrency users, with 94 percent feeling positive about the Bitcoin alternative. Only 49 percent report feeling positive about Bitcoin, according to CoinDesks report on a recent survey. Recent trends seem to indicateEthereums value will surpassBitcoins soon an event cryptocurrency enthusiasts have termed the flippening.

Ethereum and Bitcoin share many important qualities. Both are maintained and hosted by volunteers all over the world, and tracked by a network of computers, rather than acompany or government. Private exchanges establish the prices of both, and people can buy and sell them at market rates ortrade them.However, Ethereum was created to do far more than work like digital currency. The Ethereum computer network can also run computer programs and do computational work; functions otherwise known as decentralized applications, or Dapps. This has attracted a massive community of programmers who all contribute their labor to improving the software. In turn, companies have started using the Ethereum network as a base for other programs. JPMorgan Chase, for example, is creating a monitoring system for trading. Some corporate Ethereum users are creating their own Ether currency-free versions of the software, althoughmany observers believe that these software programs will eventually be connected to the Ethereum network.

The rapid boom of both Ethereum and Bitcoin showcase not only the massive potential of blockchain technology, but the volatility of the cryptocurrency world. The Bitcoin community has, at times, been plagued by technical issues and struggles with hackers demanding ransom, and illicit activity like online drug sales. Ethereum has problems, too like the DAO heist in 2016. However, challenges like these are not unexpected in totally new systems, and both Bitcoin and Ethereum have been robust enough to recover well. NYT reports that their combined value is now worth more than the market value of PayPal and is approaching the size of Goldman Sachs.

The idea that companies and individuals will choose to use the computing capabilities of the Ethereum network, as well as the currency, is still speculative. More conservative investors want to see extensive evidence before they make this kind of choice, and right now they dont have that much to go on.

Meanwhile, Bitcoins choice to use retail acceptance of its currency as an entry into mainstream commerce through companies like Expedia and Overstock.com is less risky. Even still,that strategy does run the risk of less savory retailers like drug traffickers. blockchain technology, the basis for the software, is clearly secure, but Ethereums strategy may prove more successful over time.

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Teenage bitcoin millionaire can see the cryptocurrency’s value … – MarketWatch

If this teen entrepreneur, high-school dropout and bitcoin millionaire has any predictive powers at all, then weve hardly seen the top of the market for the hot cybercurrency.

Meet Erik Finman, who started picking up bitcoin at $12 apiece back in May 2011, when he was just 12, riding a hot tip from hits brother Scott and a $1,000 gift from his grandmother, he told CNBC. Hes now the owner of a reported 403 bitcoins, and while the cybercurrency has been on a bit of a bumpy ride lately, at a Wednesday morning price BTCUSD, -0.75% of $2,773.54 each, the now 18-year-old Idahoans stash is worth $1.1 million and change.

Finman cashed out his first bitcoin investment back in 2013 and started Botangle, an online education company that provides tools for locating instructors in subjects they need or wish to learn about.

Read: All the digital money in the world in one chart

He wasnt a fan of high school and convinced his parents, both Ph.D.s, to let him drop out at 15.

His teachers clearly werent seeing his potential. One teacher told me to drop out and work at McDonalds because that was all I would amount to for the rest of my life. I guess I did the dropout part, the young bitcoin millionaire said. He didnt really want to go to college, either, and won a bet with his parents that if he was worth a million dollars by 18, he could skip it. He was, and so he did.

Check out: How the cryptocurrency ethereum looks set to overtake bitcoin in one chart

Finman encountered discouragement from an Uber executive, who, instead of listening to his Botangle pitch, told him he should count on college rather than racking up millions. But the teen did end up successfully selling his companys technology, for a cool price of 300 bitcoin, reportedly. He has said he turned down a $100,000 offer.

Read: Uber CEO Travis Kalanick steps down after shareholder revolt

Bitcoin prices have soared more than 300% in the span of a year, with the bulk of the gain coming during May and June. Ethereum, one of its chief rivals, has also seen big gains. Bitcoin tapped $3,000 last week, before a pullback last week that saw it shed billions in market cap.

Read: Nvidia upgraded as cybercurrency miners go bonkers for its chips

Plus: Bitcoin needs government regulation to rise further, Morgan Stanley says

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Top 3 Cryptocurrency Lending Platforms – The Merkle

A lot of cryptocurrency users are looking for ways to make their coins generate more revenue. One could argue trading other currencies and assets is the right way to go. Then again, not everyone wants to take this route. Lending Bitcoin on exchanges is another way to generate a small profit over time. Below are three of the main platforms where cryptocurrency lending is quite popular these days.

Surprisingly enough, Japanese exchanges do not shy away from lending services. To many people, this will come as a big surprise. Then again, the open regulation in the country allows for more leniency when it comes to these types of services. Coincheckintroduced cryptocurrency lending quite some time ago, and they recently improved the service even further. As of right now, lenders will earn a maximum interest rate of 5%, which is quite generous.

It is evident the main focus of Coincheck lies on Bitcoin lending. However, the platform also supports additional currencies, including Monero, Factom, Augur, Ether, and XRP. All loans will be refunded together with the usage fee when the loan period ends. It is not possible to exchange currencies by lending them, which is only normal. No lending platform supports that functionality at this time.

Storing funds long-term in an exchange wallet is never a good idea, and the Bitfinex users found that out the hard way about a year ago. That being said, the platform still provides lending services, referred to as Margin Funding. This feature effectively allows users to provide funding in the form of multiple currencies to Bitfinex traders. Users can determine their own return rate, duration, and amount, as is the case with any of these three platforms.

It is rather interesting to note Bitfinex users can lend money in fiat currency as well. Most platforms only support cryptocurrency, yet this exchange is quite different. It is possible to borrow USD as well, which is quite interesting. It is unclear how popular lending is on Bitfinex right now ever since the platform got hacked last year, though. Then again, it is an option well worth considering for everyone who wants to explore lending options in the world of cryptocurrency.

No one will be surprised to learn most of the cryptocurrency-oriented lending is taking place on Poloniex right now. The company has been a great source of lending services over the past few years. Poloniex also supports a wide range of currencies, which certainly helps to move things along. Right now, the platform supports currencies including Bitcoin, Ether, Doge, Dash, Litecoin, and others. There is no fiat currency lending on Poloniex, though, but that is not necessarily a bad thing.

There appears to be quite the market for lending on Poloniex, which is good to see. Then again, more competition also means a lot of people will earn a lot less money as a result. Competition in cryptocurrency lending is both a blessing and a curse, depending on how you want to look at it. Right now, the loan offers for Bitcoin are at around 0.15%, which is quite decent. Do keep in mind the loan offers often outweigh the loan demands, though.

If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.

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Quantave enters closed beta for unified cryptocurrency liquidity gateway – CryptoNinjas

Quantave, a London-headquartered company developing trade life-cycle infrastructure for digital assets, officially entered their closed beta-testing phase today. The infrastructure aims to openthe digital asset market to institutional traders and investors, transforming the way they engage and transact, while ensuring the safety and security of their assets. Quantave is now testing the model with its initial partners.

The existing trade-lifecycle infrastructure that underpins the cryptocurrency market has, until now, been largely unsuitable for institutional investors. Accessing liquidity has been complex due to the fragmented nature of the market requiring repetitive onboarding and capital management processes.

Quantaves solution simplifies access to liquidity in the market by providing a secure trade-lifecycle structure that is tried and tested in traditional markets.

For the first time, institutional participants such as family offices, fund managers, hedge funds, FX brokers, market makers and authorized participants will be able to access multiple broker-dealers and exchanges via a unified gateway, reducing complexity and resulting in a deeper pool of liquidity.

To reassure investors that they can engage in the market without conflicts of interest, Quantaves infrastructure incorporates independent, EU regulated intermediaries to provide a clear distinction between the execution and asset safeguarding functions.

Traditional markets have evolved with key roles isolated from each other with the objective of reducing risk and creating healthy competition. We aim to emulate this with our infrastructure. Both institutional investors and liquidity venues will benefit; investors will be able to transact confidently across multiple venues through independent asset safeguarding and execution functions, ultimately reducing risk. Liquidity venues will benefit from an increase in order flow as investors are able to enter the market via a proven channel. This is a very exciting time for this industry and marks a first step to accessing and unlocking liquidity in this increasingly sought after asset class.

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