Stellar Lumens (XLM) Forum with for newcomers and contributor's rewarded Check here




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Vietnamese investors are in a hurry to import crypto mining equipment. As the bitcoin price continues to flourish — despite the Chinese putting a stop to domestic ICOs — investors desperately want mining equipment. However, the legality of bitcoin and cryptocurrency in Vietnam is unclear, and getting miners through customs is difficult.  
 
Also read: Lead Developer Amaury Séchet Discusses the Future of Bitcoin Cash

A Vietnamese article elaborated: “In Vietnam, [Image: shutterstock_631021112-150x150.jpg]The General Department of Customs (GDC) is still considering whether to allow computers imported to mine bitcoin to get custom’s clearance. The State Bank of Vietnam recently affirmed its viewpoint on not recognizing virtual currencies, including bitcoin, as a legal currency and payment instrument in Vietnam.”

Mining and Mining Equipment in Vietnam

Regardless if the Vietnamese government legally recognizes Bitcoin, investors are still trying to get their hands on mining rigs. They are wanting equipment for bitcoin, litecoin, and ethereum. It is just that the rigs have become difficult to obtain and expensive. The article provided more information:

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One bitcoin mining machine is offered to sell on internet at VND30-60 million. A set of computers for bitcoin mining comprises 4-6 VGA, while the latest-generation machine has 8 VGAs. Just two months ago, computer component suppliers in Vietnam reported that all computers with strong configuration and VGAs were running out because of  high demand from bitcoin miners.

The owner of a computer store in Hanoi, mentioned he generated a lot of revenue as a result of selling bitcoin mining rigs. However, mining is complicated and takes a lot of resources, he said. This means that most people will end up just leasing the equipment. This seems more likely, especially if more powerful systems were running out as a result of the legal status of cryptocurrency in Vietnam.
Legal Status for Bitcoin in Vietnam; Central Bank Commentary
This gold rush for bitcoin mining rigs is occurring as Vietnamese officials determine the legal status of digital assets. News.Bitcoin.com reported the prime minister Nguyễn Xuân Phúc approved a plan to delve into digital assets. However, the government may consider legalizing them. They are considering whether they can be properly integrated into 

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society. More recently, the central bankof Vietnam made a highly skeptical assessment of the technology:
“Regarding the import of Bitcoin machines, Vietnam has not mastered the technology of exploiting virtual money. Most businesses and individuals involved in virtual currency trading will fail. To mine you need specialized computers to dig up Bitcoin and they are very expensive. Due to the “digging” machine installed, unsuspecting investors will fail, qualified investors will also break even or gain a little bit and continue to buy machinery to participate in the Bitcoin digging.”

Do you think Vietnamese mining will continue to pickup? Will the Vietnamese government make mining more or less difficult? Let us know what you think in the comments below.

Read More Read More, Posted by: JoseRizl
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Openbazaar 2.0, a major upgrade from the previous version, has been released. The fully-functional public beta expands the peer-to-peer app with several new features including Tor integration, improved search, a bitcoin wallet, new vendor tools, and stores that stay online.


Also read: Russia’s Finance Ministry Drafts Law to Legalize Cryptocurrencies

Openbazaar 2.0 Beta Launches

[img=300x0]https://news.bitcoin.com/wp-content/uploads/2017/09/ob-300x89.jpg[/img]Openbazaar announced on Saturday its 2.0 beta release, after a month of alpha testing. The free, peer-to-peer, eBay-like marketplace already allows anyone to buy and sell all kinds of goods and services for bitcoin without censorship or fees. For the first time, however, Openbazaar 2.0’s many new features can be used with real products instead of test data. The announcement states:

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[i]The beta uses real bitcoin and real listings.[/i]

IPFS & Offline Stores

[img=300x0]https://news.bitcoin.com/wp-content/uploads/2017/09/ipfs-300x136.jpg[/img]One of the biggest complaints users had with Openbazaar before now has been stores going offline when vendors are not running their store apps. With version 2.0, even when the computer running the store is offline, other network nodes can display the store and still let customers place orders.
This is due to a major networking addition known as the Interplanetary File System (IPFS) protocol, which distributes store information between other Openbazaar users to help with store uptime and product availability. The team detailed:

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[i]Because this new version is built on IPFS, Openbazaar stores can now be accessible to buyers even when they are offline. Stores and listings can now be re-seeded by other Openbazaar users, meaning that if a store is seeded then buyers can purchase their listings even if they are offline.[/i]

Bitcoin Wallet and Shapeshift

[img=300x0]https://news.bitcoin.com/wp-content/uploads/2017/09/shapeshift-300x83.jpg[/img]Version 1 did not have a bitcoin wallet built in, making it harder for new users that were not already bitcoin owners to start using the platform. New for version 2.0 is a full-featured bitcoin wallet, which recently integrated Segwit. This “does allow us some transaction fee relief,” commented Openbazaar developer and founder Washington Sanchez.

In addition to bitcoin, version 2.0 supports bitcoin cash as well as many altcoins through Shapeshift’s “shifty button.” Any coins available through Shapeshift can be used at Openbazaar stores.

Tor Integrated
[img=300x0]https://news.bitcoin.com/wp-content/uploads/2017/09/tor-300x180.jpg[/img]One of the most anticipated features requested for Openbazaar since its origins as a project called “Darkmarket” is the inclusion of Tor routing to preserve user’s privacy. Openbazaar version 2.0 includes the option to both shop and run a store using Tor. However, the option is not turned on by default and can be tricky for new users to set up properly. This video shows how to run Openbazaar with Tor on Windows.

Although the platform does not cater to those selling and buying illicit goods, Tor will allow many darknet market participants to set up their own storefronts using Openbazaar instead of the dark web. This would provide them with feature-rich e-commerce shops, often not offered by darknet marketplaces. The stores are also decentralized, offering a new level of protection to marketplaces like the Silk Road from being tracked and shut down by law enforcement, according to the creators of the software.

New Search Engine & Vendor Tools

Openbazaar version 1’s search functionality was inadequate due to the intermittent nature of the stores’ availability. Finding goods to buy in the app was easier done offsite using 3rd-party services like Duosear.ch, which aggregates Openbazaar’s product listings and displays them on its website.

new OB1 search engine has been built into Openbazaar version 2.0. The app lets users choose between the new search engine and Duosear.ch from inside the program. The team detailed:

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[i]Third party search providers are now accessible from within the client. Search results are much faster and more accurate than they were before.[/i]


In addition, the new version includes many back-end tools for vendors that did not exist in version 1. They include inventory management, more shipping options, and product variants.

The following video shows the new features in version 2.0.

https://youtu.be/VzlerMJMOu8

What do you think of Openbazaar 2.0? Will you use it? Let us know in the comments section below.

Read More Read More, Posted by: JoseRizl
:exclamation: :blush: :@ :exclamation: :sorry:i am new hear please help me how to earn money hear .





please tell me how to earn money

Read More Read More, Posted by: jesjaymin

  1. App Teaches You A Language In 3 Weeks.https://www.babbel.com/

Read More Read More, Posted by: Nayaksk

    Body language tips When you enter the job interview room
  1. Do not take a seat until you are offered one.

  2. Do not lean back as it indicates boredom or arrogance. Leaning forward can be a sign of aggression, so sit straight, feet on ground.

  3. Do not cross your legs since you could be seen as being unsure. Don't sit with one leg bent backwards, which shows impatience or nervousness.

Read More Read More, Posted by: Nayaksk
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The Swiss municipality of Chiasso has announced that it will accept tax payments in bitcoin from January 2018 onwards. The announcement signifies a further gathering of momentum for Switzerland’s bid to become a global leader in the bitcoin and cryptocurrency industries, with Chiasso seeking to rival Zug’s Crypto Valley as a major global hub for bitcoin adoption and innovation.


Also Read: ICO Regulatory Round-Up: UK, Malaysia, and Switzerland’s Crypto Valley Point to Risks

Chiasso Citizens Will Be Able Use Bitcoin to Pay Taxes in Quantities of up to 250 Swiss Francs Starting January 2018
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Chiasso, Switzerland is seeking to establish itself as a global hub for bitcoin adoption, announcing that citizens can now pay their taxes using bitcoin. The announcement further solidifies Switzerland as a world leader in bitcoin adoption, with Chiasso moving to compete with Zug as the dominant Swiss center for cryptocurrency innovation. Chiasso will begin accepting bitcoin as a form of taxation payment beginning in January 2018, with the city planning to trial the method by initially restricting payments to values up to 250 Swiss francs (CHF). Zug currently accepts taxation payments in bitcoin of up to 200 CHF, and since July has received more than 40 payments in bitcoin.

Chiasso officials are hoping that the expanding cryptocurrency industry can replace lost tax revenues from the diminishing local banking sector. Chiasso mayor, Bruno Arrigoni, has stated that “Chiasso is recognized internationally as an epicenter of a growing technological and economic growth for both the canton and in Switzerland”. Local officials have sought to brand the municipality as “CryptoPolis” in a bid to attract cryptocurrency start-ups.

The Chiasso Mayor Has Met With a Number of Cryptocurrency Based Businesses in Recent Months
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The Chiasso administration has taken a number of steps designed to attract cryptocurrency companies. Chiasso’s mayor is reported to have met with numerous cryptocurrency entrepreneurs in recent months, with the mayor claiming that eight start-ups have recently established headquarters in the municipality. The press release also states that “the Executive will evaluate the possibility of participating as a founding partner in the formation of a non-profit BHB foundation, which will involve some of the highest representatives of Chiasso’s Blockchain / Bitcoin technology.”

Chiasso’s government announced measures intended to foster innovation in its local cryptocurrency industry, including the development of “in-depth courses in upper secondary schools” designed to bolster cryptocurrency literacy among students.

Do you think that Chiasso will be successful in its bid to rival Zug as the Swiss center for cryptocurrency innovation? Share your thoughts in the comments section below!

Read More Read More, Posted by: JoseRizl
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Aeron Blockchain for Aviation Safety

Website

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Background

Do you often use airplanes for traveling domestic or international ? if yes you should read this
In this new modern era, people and transportation technology creates a kind of stickiness on the aviation industry. Although connectivity between regions, countries, island and continental can use vehicle and ship, but flights giving a high level of efficiency. "With the efficiency that the aircraft offers, there is no doubt that aviation can boost the growth of the world economy and a country. Just imagine There are 93,000 Flight Per Day in the World.
In the great technological advancement, the aviation industry also offers a Borderless concept so people are increasingly love of this mode of transportation. With that concept, passengers can be spoiled with a variety of comfortable and fun facilities. inflight connectivity and live TV facilities for all passengers to the on board first-class chef on board service.

Problem

But like two sides of the blade, in addition to offering a variety of comfort and travel speed. Airplanes also have a fatal risk, airplane accident are common all over the world. The tragedy of a plane accident is terrible, because when an accident occurs, the chance of a passenger to survive is very small.

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In many cases, other than due to weather, accidents are often caused by the pilot itself

Based on statistical data

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The highest rating indicated by the pilot of the airplane itself
Why did this happen? of course, this question determines the credibility and professionalism of a pilot, because To be a pilot is not as easy as we think, Qualifications and high ability processes are complicated and must have many licenses

Generally the pilot license consists of PPL, CPL, ATPL.
PPL (Private Pilot License)
CPL (Commercial Pilot License)
ATPL (Airline Transport Pilot License)
ME (Multi Engine)
IR (Instrument Rating)
VFR (Visual Flight Rule)

In generally pilots and airplane teams of an Aviation have been trained and licensed. but the fact is, this is not a guarantee.  The flight log is still done on paper, with numbers, signatures and confirmation stamps all done manually. manual system like this is a corrupted system because it is very easy to manipulate. There is no doubt that such manual log flow systems are extremely dangerous and outdated and that still no agency or official coorporate have the authority to identify the credibility, integrity and professionalism of a pilot or airplane

Aeron as a Solution

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Aeron has developed a solution to make flight more safety for everyone, The Aeron solution is using blockchain technology to track pilot logs and aircraft maintenance. Aeron is building a database and a decentralized online system, hosting global data on aircraft, accredited flight schools and a pilot's logs.
This blockchain-based electronic logging system will force the pilot to have logs that reflect the flight hours accurately, The core of aviation logs is to monitor the credibility, professionalism and experience of a pilot and airplane that everyone can access it. This system will making the flight more safety for everyone.

How does it work

Aviation log records are closely related to the integrity of the recordings or black boxes, but the contents of black box recordings are highly confidential and non-transparent. However, the current system is not equipped with facilities to handle the number and variety of aircraft operating worldwide. It is not very transparent. Aeron has a solution log flight problem based on blockchain technology
flight log records will be stored in blockchain, the log records are available for public audit, can not be forged and accessible by everyone. This will allow an online system that relies on the Aeron Register, built on the Ethereal blockade to track pilot and pilot aircraft records, as well as ARN, a utility token to enable the development of standalone ecosystems around the database and token holder. Aeron token (ARN) will be required to write access to the Aeron Registry and other on-chain events.
The purpose of Aeron is to build next generation payment gateways with globally that allow people to use Token Aeron crypto to order ticket or rent airplane for self. Aeron would also have a real world application, as it  could be envisaged as a mean of payment for small aircraft type or promotional leisure flights, with aircraft owners having signed up for partnership arrangements with Aeron.  The other purpose is for your safety that is by using the Aeron ARN Token you can know information about the airplane and pilot logs with a transparent , so your flight will make comfortable and safety

Token Information

Aeron encourages using of a cryptocurrency token named AERON (ARN) as a payment method. The ARN token is ERC-20 compatible based on Ethereum network

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Total token supply:
100 million (100,000,000) ARN, out of which:

60% sold in the token pre-sale and general sale
20% allocated for network growth to incentivise participation in the ecosystem
18% retained for the development team
2%  to cover administrative costs

Presale and ICO
https://www.aeron.aero/

Ethereum ERC20 compliant
Purchase methods accepted: BTC and ETH
Price per token: 1 ARN = 0.5 USD

Join Group and community

Website
https://www.aeron.aero/
Whitepapper
Aeron whitepapper          
Team
https://www.aeron.aero/#team
Bitcointalk
Bitcointalk Official
Facebook
https://web.facebook.com/aeronpublic
Twitter
https://twitter.com/aeron_aero
Slack
Slack Invite
Telegram
Telegram Channel
Medium
Medium Channel
Reddit
Reddit Channel
Github
Source on Github

Read More Read More, Posted by: moneng
Zenix Online
Zenix Online is a Community Forum from the Philippines this forum is about Free Internet, VPN, Hacking and other technology related topics.

Visit the link NOW
https://zenixonline.net

Read More Read More, Posted by: zenix01
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It is always good to see more retailers accepting Bitcoin payments. Unfortunately, the process has traditionally been quite difficult, as many businesses still think of Bitcoin as being too volatile. Given the recent Bitcoin price swings, their hesitation is certainly understandable. One Lamborghini retailer near Newport Beach, California is now accepting Bitcoin payments through BitPay. Although this is not an indication of the entire company supporting cryptocurrency, it is still an intriguing development.

BITCOIN BRINGS THE LAMBOS TO THE YARD
When people make bank, they often joke that they will buy a Lamborghini with their profits (at least that is the running joke among many Bitcoin investors). When altcoins or bitcoin spike in price, they will net Lambos as a result. Even though it is a bit of an inside joke in the world of cryptocurrency, one car dealer is making it a reality.

According to this image, Lamborghini Newport Beach is now accepting Bitcoin payments for all car sales. That is a significant development, but it could certainly be misinterpreted by the Bitcoin community. Just because one car dealer accepts Bitcoin does not mean the Lamborghini corporation itself is interested in cryptocurrencies. In fact, it is more realistic to think they are still pretty risk-averse when it comes to disruptive payment methods such as Bitcoin

We also know this Newport Beach-based dealer accepts Bitcoin payments through BitPay. Considering how there is some backlash from the community against BitPay right now, this news is quite positive for the latter company as a whole. It also shows this Lamborghini representative has no intention of keeping money in Bitcoin unless absolutely necessary. Adding a payment method like this one is nice, but the money will still be converted to U.S. dollars.

On Reddit, there are some very bold claims circulating right now. Some people see this as “Lamborghini accepting Bitcoin,” which is anything but the case. Indeed, excitement often clouds people’s judgment. This is just one car dealership embracing Bitcoin payments which are immediately converted to U.S. dollars to protect against volatility. It is a Lamborghini dealership, sure, but neither the manufacturer nor any other outlets are dealing with Bitcoin just yet.
All things considered, this shows that car dealerships are not necessarily afraid to embrace Bitcoin. Independent sellers will have an easier time making that decision, for obvious reasons. A Lamborghini is not the only car one can buy with Bitcoin either, as the same principle applies to the Tesla models.

Convincing more merchants to accept Bitcoin payments is still a struggle. Even though the early adopters of this cryptocurrency are getting richer by the month – assuming they have not sold – most retailers still will not touch cryptocurrency with a ten-foot pole. We can only hope this situation improves sooner or later, as there is no reason not to accept Bitcoin payments – even if that means using Bitpay or similar services to convert to one’s local currency right away.


Read More Read More, Posted by: moneyship83
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The overall cryptocurrency transaction volume has grown a fair bit in the past few years. Bitcoin, Ethereum, Litecoin, and a few other currencies are all maturing in front of our eyes. As a result, we have a market cap hovering around the US$160 billion mark. A new study by Juniper Research predicts we will see over US$1 trillion in transaction value for all cryptocurrencies combined in the near future.

TOTAL CRYPTOCURRENCY TRANSACTION VALUE IS ON THE RISE
The research by Juniper foretells a rather interesting future for Bitcoin and most other cryptocurrencies. With so many coins finally cementing their place in the ecosystem, it is only a matter of time before we see some big changes. The combined transaction value of all cryptocurrencies is slowly increasing. During the first half of 2017, transactions surpassed the US$325 billion mark, which is pretty impressive for something a lot of “financial experts” deem to be a niche market.


This increase in value is mainly driven by Bitcoin and Ethereum. Especially now that both ecosystems are inching closer to creating a scalable ecosystem in the future, interesting things are bound to happen in the future. If more transactions can be processed on those two networks, we may reach the projected US$1 trillion cap a lot sooner than anticipated.  The new research projects this value will be attained at some point between now and 2022.


One also has to keep in mind the typical daily trading volume of all major cryptocurrencies combined is well in excess of US$2 billion these days. We have seen US$6 billion or even US$9 billion, depending on the day. Bitcoin itself handles around US$2 billion in 24-hour trading volume on a regular basis now, which goes to show the global demand for cryptocurrency will not slow down anytime soon. Ethereum and Litecoin have also seen major increases in trading volume throughout 2017.

According to Juniper, the current growth of Litecoin puts the cryptocurrency on target to surpass US$100 billion in transactions by the end of 2017. That would be a major milestone for this particular cryptocurrency, especially when so many people had almost given up on LTC not too long ago. Then again, good things are coming to the Litecoin ecosystem, including its own version of the Lightning Network and cross-chain atomic swaps. These developments will take some time to come to market, though.


Given the recent value appreciation of all top 10 cryptocurrencies, it is only normal we are seeing more transactions take place on the network. More on-chain transactions result in an increase in the total cryptocurrency transaction value. Although this does not mean people will actively spend US$1 trillion using cryptocurrency on goods and services, the currencies are being used more and more often for whatever purpose the user intends. That in itself is a big step forward, as it shows how cryptocurrency is maturing. With scaling solutions coming to individual ecosystems, interesting things are on the horizon.


Research like this validates the use of cryptocurrencies for many different purposes. It also shows how blockchain technology is evolving through scaling solutions and new use cases. That does not mean every single industry or business model can benefit from blockchain technology, although there is still a lot of research to be done over the next few years. It is good to see positive research related to use cases for cryptocurrency, as a lot of people still associate these currencies with illegal activity first and foremost.

Read More Read More, Posted by: moneyship83
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The cryptocurrency markets are blood red again as rumors circulate that China plans to shutter Bitcoin exchanges. This news comes on the heels of Chinese regulators outright banning ICO’s last week. However, all current information suggests Chinese authorities have not taken action. It looks like China could be crying wolf, since little evidence currently exists for a government-lead exchange shutdown. 


Also read: Professor Urges New Zealand Government to Develop Bitcoin Regulations

Truth of Government Action Currently Unconfirmed

The accuracy of the Chinese news sources is also unconfirmed. Chinese news source Caixin elaborated on what is going on, but did not provide hard proof of the proposed closings.
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The site said; “The supervisory authority has decided to close virtual currency exchanges in China, which involves all virtual currencies and denominations kept by ‘OKcoin,’ ‘Bitcoin China,’ and others. The new financial reporter from the Internet financial risk special rectification Work leading group confirmed the news. Allegedly, government agents intend on deploying a resolution shortly.”

CNledger Twitter post, however, contradicted Caixin, saying, there is plenty of fake news circulating and nothing is confirmed. They said, “Lot’s of false news. Don’t believe them unless they’re confirmed or verified. Up to now, no exchange is forced to close, no body is arrested.”

Quote:Lot's of false news. Don't believe them unless they're confirmed or verified. Up to now, no exchange is forced to close, no body is arrested pic.twitter.com/puCQVBJH5u
— cnLedger (@cnLedger) September 6, 2017

Cnledger even asked a couple of exchanges if they had any notice of shutdown. They replied they have not gotten any notice and are continuing to operate as normal.
Quote:Regarding tonight's rumours, we asked representatives from okc & huobi, they have not received any notice and they're operating normally
— cnLedger (@cnLedger) September 8, 2017


Market consequences of Unconfirmed News

The interesting thing about spreading unconfirmed news or crying wolf, is that it impacts the markets. When fear circulates throughout the ecosystem, weak hands are scared into action. They begin selling tokens. A panic ensues. More weak hands sell, and the market sees a temporary selloff.

According to Coinmarketcap, US cryptocurrency markets are down 7.3%. This is likely a direct result of the market scare based on this news of alleged Chinese exchange shutdowns, but without undeniable evidence of any action on part of regulators.
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Bitcoin price after the news of a possible Chinese exchange shuttering. Source: Coinmarketcap



Furthermore, anyone who foresaw the event or had insider knowledge would be able to gain lucrative returns from the panic. They could sell on the top, make a profit, and then buyback on the low. The cycle continues. This lesson illustrates how markets can be manipulated based on news alone, without necessary action.



Affect on Bitcoin; Chinese Authoritarian Mindset



If the shutdown happens to be true and come to fruition, some commentators say bitcoin will not be as affected since it’s not an ICO. Nonetheless, it is good to keep in mind that China does appear to harbor one of the most authoritarian mindsets regarding cryptocurrencies. To date, their concern with cryptocurrencies seem to have led to the most heavy-handed actions toward the digital assets. But whether the recent rumors are true remains to be seen.

Hopefully, they are not crying wolf when the wolf might not be around.


Do you think China is crying wolf? Are there people profiting from spreading potential FUD? Let us know in the comments section below.

Read More Read More, Posted by: JoseRizl
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The preparation of a pilot project is underway in Russia to subsidize electricity costs to cryptocurrency mining farm owners, according to local publications. Meanwhile, interest in bitcoin, ether, and mining have been growing significantly this year.


Also read: Russia Discusses Starting Cryptocurrency Mining With Its 20+ Gigawatt Surplus

Pilot Project Benefiting Cryptocurrency Miners

The Institute for Internet Development (IRI) and the Russian Association of Blockchain and Cryptocurrency (RABIK) are reportedly working on a pilot project to subsidize electricity costs related to cryptocurrency mining. IRI director of project activities Arseny Shcheltsin told daily newspaper Izvestiya this week that mining farm owners would receive discounts on electricity but did not disclose the actual location of the project.
The two organizations believe, as reported by the publication:

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[i]In addition to the legalization of cryptocurrency in Russia, it is necessary to create the most favorable conditions for the work of miners.[/i]
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While the IRI’s goals are focused on the development and operation of modern technologies in Russia, RABIK was created to unite blockchain technology participants and owners of cryptocurrencies, including miners and ICO project investors, according to RNS news service. RABIK’s creation was announced at the end of August by Herman Klimenko, Vladimir Putin’s internet advisor.

Interest in cryptocurrency mining has been growing in Russia, along with interest in cryptocurrencies themselves, such as bitcoin and ether. News.Bitcoin.com recently reported on Russian Miner Coin, a company co-owned by another advisor to Putin, working on a large scale bitcoin mining operation in Russia. Meanwhile, the government is discussing starting its own cryptocurrency mining centers.

Subsidizing Electricity Costs

Professional mining farms need cooling solutions which require a lot of electricity, Izvestiya noted, adding that:

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[i]The largest cryptocurrency farm in Russia consumes in aggregate 4.5 mWh, or 3240 mW per month. The cost of 1 kWh depending on the region is from 2 rubles to 5.3 rubles.[/i]

[img=300x0]https://news.bitcoin.com/wp-content/uploads/2017/09/shutterstock_684539410-300x200.jpg[/img]As of early this year, the largest cryptocurrency farm in the country requires energy costs at a level of at least 6.4 million rubles per month when using the lowest electricity rate available, Izvestiya detailed. The farm more than makes up for its costs, however. “According to data at the beginning of 2017,” the news outlet noted, “this farm brought its owners about 20 bitcoins per day (1 bitcoin = 270,000 rubles), or 600 bitcoins per month.”

According to Shcheltsin, “there are many idle production capacities in Russia.” He explained that their mining use will allow “power plants to reach the designed capacity, which means that they will increase their efficiency,” Izvestiya conveyed. The IRI director also asserted that this will allow Russia to become a leader in cryptocurrency mining.

Using Special Economic Zones

Shcheltsin believes that it will be possible to provide these discount privileges using a special order of regulation for Special Economic Zones (SEZs). These zones are established by the government to attract foreign direct investments and the privilege lasts 49 years.

One region in Russia that has been trying to attract cryptocurrency miners is Kaliningrad. Last week, the head of Kaliningrad Region Development Corporation, Vladimir Zarudny, explained how the region’s SEZ is ideal for cryptocurrency mining. He believes that by 2018 cryptocurrencies will be legalized in the country. A Google analysis revealed that Kaliningrad is the region in Russia with the largest increase in mining-related search queries.

Do you think bitcoin miners should have their electricity costs subsidized in Russia? Let us know in the comments section below.

Read More Read More, Posted by: JoseRizl
Hello folks,

I would like to start Stellar/Lumens tipping app that will allow you to tip or receive tips from other persons. It could be integrated with social media platforms, such as facebook, twitter, youtube etc. or let people to make cashless tips (hotels, restaurants, taxi etc.). I don't have enough coding experience, so I'm looking for help to realise my idea.

Read More Read More, Posted by: arvydas77
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Chinese media has reported that the People’s Bank of China may move to freeze bank accounts associated with initial coin offerings (ICOs). The reports have surfaced following China’s suspension of all ICOs operating within China’s borders.


Also Read: Four ICO Startups Refund Investors Hours After China Bans Token Sales

Chinese Financial Institutions Are Now Prohibited From Providing Services for Token Financing
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Chinese media has reported that the Beijing Operation Management Department of the People’s Bank of China has issued a notice to financial institutions prohibiting the provision of financial services to ICOs. The notices states that “financial institutions and non-bank payment agencies shall not provide service or product like account opening, registration, trading, clearing and settlement for token financing and virtual currency”.
This week, China began to carry out a sweeping crackdown on ICOs. China’s central bank described ICOs as “an unapproved illegal public financing behavior,” and has suspended all ICOs operating within China, and banned the practice of fundraising through token sales. Chinese authorities have also mandated that initial coin offerings operating in China provide full refunds to Chinese investors.

Bank Accounts Associated With Initial Coin Offerings Will Be Subject to Daily Monitoring
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Additionally, the notice requires that banks and financial institutions carry out daily monitoring of accounts associated with initial coin offerings. “Individual accounts related to… ICO platforms must be identified. Large amount or frequent deposit and withdrawal will be restricted. Immediate restrictive measure should be taken on accounts that are in line with suspicious [anti-money laundering] reporting standards and report to authority timely.” The reporting requirements are expected to remain in place for the foreseeable future, with an anonymous source telling Chinese media that “requiring banks and payment agencies to report… will continue for a long time”.

China’s ICO crackdown comprises the most aggressive governmental response to initial coin offerings thus far. By contrast, the United StatesCanadaSingapore, and Hong Kong have issued statements articulating a desire to regulate the issuance of unlicensed securities through ICOs through existing financial authorities, implying that the distribution of utility tokens through initial coin offerings will not run afoul of current financial regulations.

Do you think that other governments will follows China’s lead in instituting aggressive regulations banning initial coin offerings? Share your thoughts in the comments section below!

Read More Read More, Posted by: JoseRizl
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We have seen many different price speculation pieces in the press regarding Bitcoin and other cryptocurrencies. Perhaps one of the more famous wrong predictions was that of Professor Bitcorn. However, it seems Ken Goldberg may have just raised the bar in this regard, as his latest opinion article on the Bitcoin price predicts a massive correction all the way to US$3.50. That opinion has already created a lot of bad blood between him and Bitcoin users.

KEN GOLDBERG RILES UP THE BITCOIN FAITHFUL

There are a lot of people who would like to see the Bitcoin price drop. Given the current momentum, there are plenty of investors who are disappointed that they never purchased BTC at lower prices. A market crash right now would certainly introduce a lot more investors to Bitcoin, although one could argue $3,000 per BTC is still a very low price as well. If it were left up to Ken Goldberg, however, the Bitcoin price would retrace all the way back down to $3.50.


Not surprisingly, Goldberg’s reasoning for this expectation is flawed. He is another financial “expert” who likes to compare Bitcoin to the Tulip craze of the 17th century. Economists have a habit of comparing apples and oranges more often than not, or bitcoins and tulips in this particular case. It is certainly true that the Tulip craze is an economic precedent that should never be repeated again. When that market finally came to its senses, the value of tulips crashed by roughly 99% in short order.


Ken Goldberg feels the same will happen to Bitcoin sooner or later. In his opinion, one could be “wishing they’d sold this $3,500 zone, as Bitcoin breaks under $35, with growing potential for US$3.50.” That is a pretty strong sentiment regarding the world’s leading cryptocurrency and one of the best-performing assets the financial sector has seen in the past handful of years. Anything can happen in the financial sector, but expecting a massive Bitcoin price retrace to 1/100th of its current value is a bit of a stretch.

Although Goldberg’s article on the Bitcoin price fundamentals may make sense to the untrained eye, it is obvious his “harbinger of exhaustions” is nothing but a mirage. Granted, there was a decline in trading volume as soon as the price surpassed $2,900, but that was hardly a guarantee of a massive Bitcoin price drop in the coming days or weeks. Even if that drop were to happen, there is no reason to believe Ken Goldberg would have been correct in his analysis.

Goldberg predicts Bitcoin may very well spike to $3,800 in the next few days. That seems to be the general consensus among Bitcoin trading experts as well, even though there will be significant resistance across the markets. Goldberg also ventures that issues affecting the Bitcoin technology might cause a future drop. Blockchain technology no doubt has scalability issues, and moving Bitcoin off exchange platforms can be challenging at times as well. However, these problems have existed for some time now and are being addressed. SegWit and the Lightning Network will address most scaling issues, whereas solving the exchange problem can only be done through decentralized trading platforms.


For Ken Goldberg, Bitcoin has “dwarf[ed] the Tulip Bulb lunacy.” Coming from someone who firmly believes traditional finance still has a fighting chance at a bright future, these statements can easily be ignored by people who see the bigger picture. Bitcoin has been fighting an uphill battle for several years now and has come out stronger every quarter. This is not in the same league as a Tulip Mania bubble, as there has never been anything like Bitcoin throughout history. At this rate, Ken Goldberg is well positioned to become the next Professor Bitcorn.

sourch

Read More Read More, Posted by: moneyship83

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