If you know about the bitcoin. which means, you clearly know about this technology. People use digital currency in the sale or purchase of any commodity or in term of service. Actually, this technology chain is wide and control by the computers forming blockchain.
Now, blockchain is also going to help in saving the environment difficulties. An ecologist at the university of the Agriculture sciences in Riddarhyttan is confident that this growing technology will also help to save the environment. Science and he have a discussion about the future of the money, government trends and trust of the public as well.
The blockchain is a procedure to maintain the immutable ledger of the transactions. Which decentralization the supercomputers. Accordingly, because of the lack of trust, the environmental problems emerge. Whereas, environmental crisis grows in a fruitful ground. Which is directly the multiplication of intermediaries. For example, if you buy a ring from the supermarket. Here, you just buy a ring, not even know where it comes from. The supply chain of this ring is very long. It is possible that even retailer has not enough information, where the ring came from.
In the same way, the blockchain base supply chain would mean that you buy a ring by scanning QR from your mobile phone. Where you are able to see each step and positive thing is it cannot be falsified.
How blockchain help the environment?
Blockchain has the ability to change the nature of the ownership. Moreover, in most of the developing countries land rights are not properly distributed as they are in documents. Where the government or a reputed company can easily claim, a land owned by a local community. Whereas, if we put the registry of the same land to the blockchain, which will be immutable. In addition, the real owner of the land will have complete freedom to do whatever with a land.
Blockchain has directly created an influence in policy making. While voting by the blockchain is the secure and organized way to the elections. Now, if you are going to manage an election regarding how to control natural resource. Whether it is a fishery or a forest. You need planning, instruments, ballot boxes and most important thing is to prepare the public to cast vote on the election day. On the other hand, if you do this procedure of voting through blockchain technology. you’ll free cast a vote from your smartphone with your cryptography identity and strong security.
Furthermore, this technology helps by changing incentives. A blockchain guarantee that an event will happen. That sounds weird, but you enter into a contract with the blockchain. You are free to enter business logics as computer code. Next, when condition met the contract will be executed automatically.
Above all discussion is about how blockchain will help in environmental issues. We need more planning to change living, these are few of them.
It’s really simple to use a Bitcoin mining calculator. There are only two main instructions that you need to follow:
- Enter the hash rate
- Click to mining revenue
Do these and you will have your desired calculations with an accurate result while using a Bitcoin calculator. However, there is one important thing to remember while performing calculations: The revenue will be in USD, based on current exchange rate. The exchange rate varies from time to time and so does the revenue difficulty.
Some other points to remember are:
You Have to Calculate Profitability:
Bitcoin mining has secured the bitcoin world. Without miners, you would not be able to do any transaction happily. In that sense, miners pay for their services and mine the blocks. If miner successfully mined a block, there is a reward on each block in the form of Bitcoin.
Easily run a profitable mining farm.
While going to purchase bitcoin mining hardware you must look the at metrics called hash rate. If a hash rate is high, it means your miner is more powerful. To calculate the amount of hash power per month, you can use the mining calculator. However, it may be costly for a new mining farm.
Just like you want to earn more, the hardware will become more expensive. Antminer S7 mines $200 bitcoins per month and costs $629. And this is just the hardware cost. The costs of electricity and equipment are not included.
For profitable mining operation with low W/GH with good hash, power is the better option for your profitability. Antminer S7 is also considered the most efficient miner with 0.25 W/GH.
During the mining process, the miners emit large amounts of heat, so you will need cooling fans and power supplies to keep the temperature under control.
Mining operation completely depends on electricity. 60% of Bitcoin network’s hashing power is located in China because of cheap electricity.
Miners in cold areas are more profitable because there is no extra need for cooling fans. It removes the heating cost and keeps the houses warm during winter.
Hash Power and Difficulties:
It is difficult to know about the difficulty months in advance. Network and hash power are external factors and vary from time to time.
Instead of stressing out, concentrate and give complete attention to understanding the more efficient idea of mining technology and the hash rate.
Block Reward and Price:
Bitcoin price is a factor you can’t control. Price fluctuation is important so keep yourself up to date and prepared for these fluctuations.
On the other hand, the reward is a predictable factor. It started from 50 bitcoins per block, then 25 BTC per block, and in July 2016, it was halved to 12.5 bitcoins per block. The reward takes place every four years. This means the halving will be taking place in 2020.
Use of bitcoin profit calculator keeps you updated with hardware and electricity costs. This will give you the better idea how to decrease the possibilities of mining difficulty and Bitcoin price.
Wishing you good luck!
Are you looking to buy bitcoin via bank transfer? Here is a list of companies that let you buy the cryptocurrency through these methods.
There are generally two transfer types – SEPA (Single Euro Payment Area) and ACH (Automated Clearinghouse).
As obvious from the names, SEPA transfer mode is for those living in European countries, while ACH is only for the US citizens.
The list of companies that provide these transfer options includes:
The largest Bitcoin broker in the world. The US citizens can buy bitcoins with a connected bank account via ACH bank transfer. On the other hand, those living in Europe are required to connect their bank accounts via SEPA transfer.
The coin delivery time of tow SEPA and ACH slightly differs from each other. ACH transfer takes 5 days while SEPA only 2 days to deliver the coins.
Coinbase charges a flat fee of 1.49% on all transactions.
Pros of Going to Coinbase To Buy Coins:
- High buying limits
- High liquidity
- Ease to understand process
- “Instant buy” option for credit/debit card users
Cons of Using Coinbase:
- Slow delivery. May take up to 5 days to complete
- Low privacy as it may track the record of bitcoin transactions you make
BitPanda only accepts Online, SEPA and SOFORT bank transfer. BitPanda is named amongst the most trustworthy bitcoin brokers and charge lower fees from credit/debit card users.
A downside of BitPanda is that the service charges are included in the bitcoin buying price and not mentioned on the site.
GDAX offers ACH transfer for US residents and SEPA for those living in EU and UK. It is one of the cheapest Bitcoin brokers out there and sometimes charges zero fees from Bitcoin buyers.
However, there are a couple of downsides of using GDAX, such as poor interface and closure of account in case the bitcoins are transferred to a legally suspicious site.
Similar to GADX, CEX also provides its US users with ACH transfer option while those living in Europe and the UK the SEPA transfer.
- Available in several countries
- The trading fee is extremely low. 0.2% to be precise
- Trustworthy bitcoins broker
- The verification process requires you to provide personal information, along with a photo. The whole process may take a while to complete.
- Lacks liquidity
Available only in the US. The citizens can buy coins through ACH transfer.
Pros of Gemini:
- Trusted brokers
- Through instant deposit, you can quickly buy the coins
- Lower fees
Cons of Using Gemini Services:
- Not available in all 50 states in the US
- Somewhat confusing to new users
These are some top Bitcoin exchanges for the US and European citizens. The list doesn’t end there. There are many more trusted brokers such as Coinfloor, Bittylicious, Confinity, etc.
Before making the purchase, dig more about these brokers and choose one that perfectly matches your requirements.
Ranked as the 13th best digital currency, Monero recently became part of the crypto jacking stir. In a recent uproar of these growing cases in the cyber world, Coin hive was being implemented for the unauthorized mining of the Monero cryptocurrency.
In a recent report by the cybersecurity researcher, Troy Mursch explains in detail how this malware hacked nearly 400 web pages in no more than 3 months. These web pages included a lot of government and educational sites as well.
The term, crypto jacking has been in circulation for quite some time now. The hacker or the group of hackers uses the victims or the visitors’ processing and the computing power to mine the cryptocurrencies without their consent. The hackers scramble and steal the data and information from the users’ web-based applications. They would then manipulate victims to pay them any digital coins for the decryption of the data.
Crypto jacking is seriously affecting many websites and object them to mine cryptocurrencies according to the hackers need.
Coinhive- The Crypto Jacker?
On its own, Coinhive is not malicious, but when encrypted and compromised with a ‘crypto jacking’ code, it forces the system to mine Monero without the knowledge of the target. UNICEF runs the same malware to raise funds for their work. But they use it with the consent and knowledge of their users. Which is definitely the right way to use the malware for which it was created.
There are a number of web pages using the same method and process to offer users to donate their system power to mine cryptocurrencies. The process is only performed with the consent and permission of the users. Projects like Bail Bloc and Salon are offering to mine these coins but just with the consent of the operators.
Affected by Coinhive
In an official statement, Troy Mursch has extensively mentioned a list of all the web pages that were affected by the malware so that all the users and visitors can be fully aware of the subject. Among these nearly 400 above websites included,
- San Diego Zoo
- The Government of Chihuahua, Mexico
- The National Labor Relations Board
- A U.S Federal Agency
- The City of Marion, Ohio
- The University of Aleppo
- The Ringling College of Art and Design
- UCLA’s webpage for Atmospheric and Oceanic Sciences Program, and many more in the list of this 400.
With this detection of extensive, without the consent mining of these Monero (XMR) cryptocurrencies, it is hoped in the future that these practices could be detained. Coinhive is just an application like many others. It is just misused and wrongfully being implemented and practiced by the hackers.
Subsiding this dilemma, there has been an extensive negative dropping of Monero in its already established and flourished market. The reasons and causes still remain undetectable.
The Market Affect
With the slight rise in the market, all the majority of the digital world is floating in the red zones. Still not being able to maintain the pace with the Dollar. Monero XRM has been no different than the trend. Keeping the flow awaken, XRM shows a trivial downfall recently.
Despite its top 20 peers, XRM has been seen floating little weak during the month. For a period of a month, it just managed to collect a rise of 32%.
On a collective period of two months, there has been a collective drop down of -15% of the currency. Despite the reckoning, its top 20 peers still managed to rise gradually with the Dollar.
Keeping eyes on the occurring trends, Monero is facing the same dip for the current week too, continuing the same flow up to -7%.
With its fall of -3% against the dollar collectively, the currency has fallen seemingly for -1.37% against the Bitcoin.
After hitting its record price of $490 per unit against the dollar in January 2018, Monero is being traded at $222.68 currently.
On the r/Bitcoin subreddit, it’s all about Microsoft and Bitcoin, as the tech giant apparently stopped accepting the leader cryptographic money, as per numerous top threads. One focuses on Microsoft following Steam’s footsteps in never again accepting Bitcoin. The talk comes from a Bleeping Computer article that claims the software and hardware monster halted Bitcoin payments.
On a top thread, an r/Bitcoin administrator stickied a post expressing different clients tried to discover the Bitcoin payment choice, however, were not able. His remark notes he trusts it’s “evident that little retail payments don’t bode well for Bitcoin at this moment,” and that despite the fact that everything points to the talk being valid, it is still unverified as there was no official explanation on Microsoft’s end.
Another top thread on Reddit claims Microsoft does still acknowledge Bitcoin payments, and that shills are simply endeavoring to fill the subreddit with fear, uncertainty, and doubt (FUD). Per this thread, Microsoft enables clients to include a predetermined measure of dollars to their balance utilizing Bitcoin, so the tech giant does indirectly acknowledge the top digital currency.
So, Does Microsoft Still Accept Bitcoin Or Not?
Chatting with Microsoft’s client support, we were told the organization no more acknowledges Bitcoin as a payment option. Eminently, the organization has apparently chosen to quit accepting the crypto money since July 2017.
image credits: ccn.com
Given the unsatisfactory answer we were given, we pressed the issue and were linked to an individual from the Higher help from Microsoft’s Accounts and Billing group. He affirmed Microsoft has quit accepting Bitcoin because of “different issues we are getting with respect to it.” When pressed, he uncovered that “we have no other information on why Microsoft quit accepting Bitcoin payments besides the problems in processing the payments.”
Not The First Time:
This isn’t the first time Microsoft stopped accepting Bitcoin. The tech giant put the breaks on digital currency payment in 2016, soon after the organization’s move started making headlines, it apologized for what it deemed “inaccurate information,” and revealed that Bitcoin payments would still be accepted.
Microsoft initially began accepting Bitcoin by means of BitPay in December 2014. At the time, the move was met with huge fanbase, as the organization joined the ranks of other substantial organizations like Dell, Newegg, and TigerDirect in accepting Bitcoin.
Story credits: ccn.com
Image: Google images