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European Commissioner, Mariya Gabriel, has confirmed that European Commission is going to pay attention to the growing electricity consumption in the European Union, for the cryptocurrency mining, as she supervises and manages digital economy and the social order. A notice was posted on the European Parliament website and according to that notice, this issue was addressed by Gabriel in response to a question that was presented in the parliament.

Cryptocurrency mining

The Issue of Power Consumption

Gabriel mentioned, that the Commission is well-aware of the issues like growing electricity consumption for cryptocurrencies and blockchain technology. This issue is going to be perilous, especially for bitcoin, as the cryptocurrency mining is intense in China. Whereas, according to some estimates, two-third of entire mining takes place in China, and some of the mining is done in other places.

The statement also noted that no legal basis is there to avert or limit energy consumed inside the EU at this time. However, specifying that electrical consumption is an economic movement, it is an issue for EU regulations that also apply to energy proficiency, greenhouse gas emissions and the power sector. The cryptocurrency mining business model is based on providing a high assessment of cryptocurrencies. The growing electricity consumption and the price, both are expected to alter the demand and worth for cryptocurrencies.

Mining Isn’t Illegal

The Commission didn’t invoke in any way to follow the cryptocurrency mining since, it’s not an illegitimate activity. Though, the activity will be reviewed by the Commission as it has an impact on the demand for energy. Gabriel further stated that it’s always essential to keep this thing in your mind that many auspicious applications of blockchain technology usually don’t have an extreme need for processing power.

 

Christine Lagarde, Managing Director at International Monetary Fund, told in January that bitcoin mining is way too much energy intensive. It’s been warned by many environmentalists’ and analysts that the world is already battling with the climate change and that’s why industry’s power usage has turned in to such a huge concern.

EU Plans to Establish Blockchain

Last year, few plans were announced by the European Commission to launch an EU Blockchain Observatory as a response to a mandate of European Parliament for strengthening technical proficiency and governing bulk. In this project, an observatory and a forum will be included to collect the information from the blockchain technology and distributed ledger technology. Their main aim is to launch an EU expertise source for progressive blockchain subjects. The other goal is to contribute the EC for boosting the creation of technologies like these and to advance policy endorsements.

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What is cryptocurrency trading

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Foreign exchange of the digital currencies is known as the crypto-trading. its means you are free to trade different crypto-coins for USD and BTC. Basically, trading is another to entered in crypto-world. It doesn’t need any investment, mining hardware or extra fees.

Why do we need to trade bitcoin and not forex?

To start earning money by trading, you need half an hour. In addition, scroll down and open your account with forex. It will take few weeks until they send you to sign up form and access code as well. It will take some time until you transfer your fund from bank account to forex negotiator.

Similarly, it is quite easy to leave crypto-trading. you just need to transfer bitcoin through an exchange

and its done.

Smaller spreads

One enormous advantage of the bitcoin is low spreads. In addition, the spread is a term which defines the difference between ask and bid price of the market marker.

Smaller spreads mean, when you exchange, you have ended approximately no loss. On the conflicting forex (btw. Other than Eur/USD have even advanced spreads), after your exchange, you made a loss of 0.018%, which isn’t irrelevant. So, do not be unable to remember to check your transactions at your exchange.

Crypto-exchange margin

The concept of leverage and margin trading is possible on forex as on crypto-exchange.

Margin trading allows you to borrow buying/selling power from peer to peer funding providers, but you need to allocate some funds first. Which won’t be reachable until you return the loaning fund.

Leverage at crypto-exchange

A possibility to trade an amount which you don’t have at your clearance. Usually, exchange offers a leverage of 1:10. It means you get 10 dollars buying power. In short, higher risk provides you the possibilities of higher profit.

Getting started trading cryptocurrencies

First, you need a wallet, you will able to buy cryptocurrencies like bitcoin or ethereum and protect them. A number of Crypto-exchange has free wallets with trade ability. But a suggestion is, don’t put your all bitcoin at single place. In this way, you will minimize the hacked or scammed risk. And, one more thing, not forgets to activate your 2FA authentication.

Contact for difference

Bitcoin and ethereum’s CFDs offers to trade without any coin. Basically, CFDs is a contract between purchasers and vendor.  Where seller will pay the amount of crypto asset and the price at the end of the contract to the consumer. These certificates are mostly used on goods.

Pros and cons of using CFDs

Two benefits of using CFDs are;

Trust

CFD platforms have been funded for many years ago. They are actually controlled by the governments.

Simplicity

You are trading with the cryptocurrency or with fiat currency the entire process is same and simple.

 

 

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What is driving Bitcoin’s price up?

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What is driving Bitcoin’s price up?

Bitcoin’s price has been soaring sky high the past few months. It takes everyone by surprise how well the cryptocurrency has been doing.

On April 24th, Erik Voorhees had made a prediction of $300 billion market capitalization on Twitter: “Tokens as an asset class have surpassed $30 billion. I predict over $300 billion within 4 years.”

So, what could be the factors contributing to driving Bitcoin up to new heights?

Through estimates and statistics, it still shows that 85% of the Global Bitcoin trading comes from China. Remaining countries have had a lesser impact. Obviously, due to a large amount of data flowing in from all sides, it’s hard to keep track of the accuracy of everything.

Economists, market analysts and financial experts, like CFA Prableen Bajpaiare, report current fears in China and Asia that the yuan could deflate due to the increased investments in bitcoin.

Other analysts have agreed to this as well: “Signs indicate Bitcoin’s price has become linked to a number of macroeconomic factors in China,” said Vijay Michalik, a research analyst for digital transformation at consultancy Frost & Sullivan.

“It highlights growing concerns about yuan currency deflation, as bitcoin’s appeal has grown as an alternative asset class for a population deprived of many investment choices.”

“The most likely explanation appears to be linked to market confidence in the Asia region, with low confidence in local currencies providing a major boost to bitcoin demand,” said James Lynn, U.K. managing director at investment company Billon Group, in a 2016 CNBC interview.

There has also been a big devaluation of currencies in other emerging markets such as India and Russia. For example, the Indian Rupee had gone down by 20 percent in 2017 compared to the US Dollar.

Even if the USD is rising compared to other currencies, people around the world are still looking for alternatives to it and Bitcoin has seemed to won that competition.

Russia

In 2016, Russians were exchanging their depreciating rubles to bitcoins by a large number. Due to tumbling of the ruble, the Russian Ministry of Finance came up with statements regarding money laundering and the possibility of taxing and regulating Bitcoin as an asset. Deputy Finance Minister Alexey Moiseev told Bloomberg in an interview in April 2017. He also added that “The state needs to know who at every moment of time stands on both sides of the financial chain”.

Blockchain companies funding

Bitcoin start-ups that attracted large investments in Bitcoin and blockchain companies, with total funding of $550 million are now increasing the demand for bitcoin in 2017. This had a huge impact on the Bitcoin’s value, causing it to shoot up.

Back to China

Due to the deflation of the yuan currency, Bitcoin value has been very appealing to Monetary policies, Chinese companies, and rich individuals. Also, several big investors are being tempted by Bitcoin. They are all demanding for Bitcoin in China since it is much more stable right now.

Japan, important growth

Things have started to get very interesting in Japan as well. In the last 6 months, what happened to be just 0.91 percent of the total bitcoin trading volume has surprisingly risen to 6 percent in just 30 days. Based on unofficial estimates and data provided by coinmarketcap.com and data.bitcoinity.org. There has been a sudden increase in the demand of Bitcoin in Japan.

What is driving Bitcoin’s price up

Can anything wreck the path Bitcoin is on?

Anything, such as the increase in the price of gold would cause a drop in the value of bitcoin, but this won’t be happening anytime soon. Gold is down 4.58 percent in the last 30 days, which is in favor of Bitcoin.

Also, the altcoins have been grabbing a lot of attention the past few months, but they’re still risky and unstable investments. Whereas, Bitcoin is in a much better shape than most and will be reaching new heights in the near future.

Tags: Bitcoin’s driving price

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Alibaba sues “Alibabacoin” For Trademark Violation

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Recently the well known Chinese e-commerce platform Alibaba has sued a Dubai-based ICO for copyright infringement. The dubai ico was functioning by the name of Alibabacoin Foundation and had initially raised $3.5 mln qaccording a Reuters report. The firm was involved in continuous misleading behavior related to Alibaba’s company name. Alibaba clarified that there was no relationship between them and the Alibabacoin Foundation. Furthermore Alibaba also made clear that it had no future intentions to enter the cryptocurrency business.

ico fraud

It was being reported that the Alibabacoin Foundation was aiming to create its own  e-commerce platform by making use of cryptocurrency Alibabacoin which was also generated by the foundation. It introduced itself as a digitally optimized firm which was going to use blockchain technology for various departments such as finance, shopping, security and marketing etc. The firm succeed in generating a handsome amount until it was declared as an ico fraud and a lawsuit was filed against it by Alibaba whose trade name was unlawfully being used by it.

Clarification by Alibaba

Though it was made clear by Alibaba that they had no intention of entering the cryptocurrency business but it should be remembered that it is not the first time that Alibaba has been a part of such rumors regarding its involvement in the crypto industry. It had to eliminate rumours early this year regarding its venture into the cryptocurrency mining industry with the help of its newly developed P2P platform. Alongwith dispelling that rumour the company also announced that Alibaba Cloud had never issued a single fraction of any digital currency from its platform neither it had any intentions to do so in the future.

 

According to a report published last year CEO of Alibaba Jack Ma exclaimed that he had no interest in bitcoin but blockchain technology, which he described as a powerful tool of future technology.

Aftermaths of the Law Suit

After initial hearing the judge issued a short term restrain order against the Alibabacoin Foundation, the lawsuit also circles threefold damages for violations of US and New York law. Further development in the case will be reported after the show cause hearing which will take place on April 11, 2018.

 

However the Alibabacoin Foundation did not pass any comment in this regard. Also, despite the orders issued by the court the company has showed no intentions to roll back its initial coin offering or other related activities.

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Bitcoin’s Price Surge and Mining Hobby

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Roque Solis, president of the SoliSYSTEMS corp, never fictionalized that bitcoin mining equipment he credited in February would have already paid for itself and made money as well. SoliSYSTEMS Corp is a company which developed an EMV smart cards for electronic advantage transfer for the federal backing program.

Solis was powerless to ignore bitcoin by attending a number of conferences. So, he decided to do experiment new technology via mining. He wants to get the better handle on the technology, whether this technology has the ability to use in this company or not?

Then, Solis bought a Bitmain Antminer S9 for $2,400.

As a result, he mined 1.01BTC worth $2,584 in Bitcoin wallet, on this weekend. Solis said, “When I bought the miner, the price per bitcoin was around $1,200. I thought I’d break even in one year, but actually, it’s been about five months.”

This gain indicates that individual hobby mining is not profitable anymore. Distinct miners don’t have the capacity to compete with the companies in mining bitcoins. with the $600 below price, electricity and pool fees, a person needs 500 days to break even on miner investment.

Furthermore, the rise in awareness about the mining pool, the price is also getting higher. Solis’s experience shows that hobby miner can break even within few months.

According to the Solis, money’s amount is increased on daily basis with miner’s jump from $7 to $16 freshly.

Price Substances:

According to the Sean Walsh, rising price of the bitcoins motivates the investing behavior of the miners. It is a key process which supports the whole network by safeguarding its ledger. Walsh said, “There are a lot of metrics that actually matter, like the number of people that own at least one bitcoin, but nobody cares about that. It’s just price. It’s the one score that wakes people up, and when The Wall Street Journal and other financial publications write about bitcoin.”

While Google trend shows the similar stories of bitcoin and bitcoin mining. Price factor of the bitcoin is not only the reason of increasing interest hobby mining. According to the Walsh experience, bitcoin transaction fees were stable from last few years, those fees have seen an uptick.

Walsh said, “This has to do with the block size debate, because the network is a bit congested, and people are having to pay more to get their transactions confirmed.”

In past, 100 bitcoins were per day transaction fees. Then this fee reaches to 350 bitcoins a day.

And, by 1,800 bitcoins shaped daily, 350 bitcoins are near to 20% of that. This is a blunt difference, a year ago when 60 bitcoins were paid in fees and 3600 produced on daily basis.

Walsh said. “that’s a huge boot.”

He added, “I don’t know that [increasing transaction fees] are affecting people’s interest in getting into mining. People may not realize why it’s more lucrative to mine bitcoins now, but when they run the numbers, the payback period looks better than it used to.”

New Blood:

He added, “It’s very important for people entering bitcoin mining that they really understand how to calculate their revenue and expenses. They need to make sure their cost basis and operating costs are very low.”

Like, if a junior miner overspends on accommodating servers, then there’s a modification, they are over-leverage.

Bitcoin’s value was down about 20% over the last weeks of June. Walsh said, “normal respiration of an asset class.” So far, others are not experienced in investing process and might be unaware of these fluctuations in bitcoin’s price.

According to the Solis, “it’s all about learning through experience”.  The Antminer S9 is running in Solis’s company’s server room and in the presence of the groups of servers, he is unable to identify how much electricity is used by the miners. Solis says, “It is noisy, though,” and “Compared to the other servers, it’s very noisy.”

It is a machine with two particular boards with fans that rotate at 54,00 – 7000 per minute revolution.  Solis is not the only one person who interesting in bitcoin hobby mining.

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Earn Bitcoin Through Games – How To Earn Bitcoin By Playing Games

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earn money by playing bitcoin games

As a kid, I love to play games, online games, upload the games or even buy games CDs or DVDs to release all frustration and tension build up within a week. That time I had a dream, would it have been possible that we earn money by playing games? I spent all of my childhood wondering on this one question. Then I grew up and technology proved to me that I can earn money from games.

We already know that bitcoin asserts itself in all over the world. People accept it, make transactions by using bitcoin. Here the question arises that is, we can earn Bitcoin through game??? Really?

Yes, we can. If you are playing online games, why you don’t try to earn money while you are sitting at home. Here are some tips to convert your gaming habit to little earner. Let me clear one thing, if you are a professional gamer then you can think about earning from games. Moreover, if you are playing games as a fun then don’t think about earning from games. Many websites offer to play games and make money, but be aware of scams. They just want your money from you. So, play the games from a well-reputed site and make yourself and your money secure from scams. Here are some tips to help you in making money.

Earn Bitcoin playing games:

Game Testing:

I wanted to do as a child, wanted to play games all day. Most of the gamers will do agree with me. So, this is not difficult to become a game tester. Basically, Game testing or play testing is same. where large game companies employ video game player and inform the problem they discover in the game.

Become a game tester is not a big deal. They offer low salary package to you and within few month. You will get bored. For example,

A gamer tester said that if you like to play basketball, and playing 12 hours per day. Then within two months, you’ll get bored of that game. Same as with game tester.

Gold Farming:

It may be new for you but professional games players have enough knowledge about farming gold because this is one of the best ways of earning money.

Basically, gold farming is the buying and selling of the items for game’s currency. You’ll be able to grow your character and keep going with your game. Where you can find, and sell it for real money. This is farming, gold farming.

Monetizing on YouTube:

In this process, you have to maintain a YouTube channel, and YouTube allows you to monetize. Video recording of you game played will be uploaded. One thing you have to keep in your mind is, a video should be with running commentary not you are just playing a game with silent mode.

By playing Bitcoin games you can earn money. But be aware of scams. GOOD LUCK!

Tags: Bitcoin earning games.

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