Between 600,000 and 800,000 Bitcoin Miners have been temporarily shut down since the beginning of the price turbulence in November. What sounds like a Bitcoin exodus is the natural reaction to falling prices and rising electricity costs.
For the Bitcoin secret miners who remain on the market, the lower hash rate also means decreasing competitive pressure
We already reported on the Bitcoin secret difficulties of the mining industry to operate profitably in these stormy times on 22 November: https://www.geldplus.net/en/bitcoin-secret-review/ The vague term “difficulties” now seems to be taking on concrete form. According to F2pool founder Mao Shixing in an interview with CoinDesk, an estimated 600,000 to 800,000 miners have been taken off the grid since mid-November.
As a result, the hash rate, which rose steadily until the beginning of November despite the bear market, has shown a downward trend in the course of the crash of the last two weeks. This is shown by the data from blockchain.com:
Judging by the chart, the hash rate has fallen from its 30-day high on 4th November from around 54 million terahashs per second (TH/s) to 41 million TH/s on 24th November. This represents a loss of about 15 percent of the hash rate in just 20 days.
According to Mao, the loss of hashing power in the network is primarily due to the fact that a large number of miners can no longer operate profitably and are therefore forced to take their devices off the grid. This is especially true for Bitcoin miners that still rely on older and therefore less efficient ASIC miners such as the Bitmain Antminer T9+. According to the report, these provide only a hashing power of 10 TH/second. Too little to operate profitably on the market in view of the price turbulence.
Mining Pool F2pool alone has broken away more than ten percent of the miners in recent weeks. Although the exact figure is difficult to estimate, according to Mao the mining pool would have seen “tens of thousands of miners shut down” after talks with individual mining farms.
Various cryptosoft factors responsible
However, the cryptosoft crash cannot be identified as the sole cause. There is also the increase in electricity costs: https://www.forexaktuell.com/en/cryptosoft-scam/ Due to water shortages, these tend to be higher in winter than in summer. In the summer, Miner calculate the equivalent of 0.029 US dollars per kilowatt hour (KWh) of electricity, while the price per KWh can rise to 0.043 US dollars per KWh in the cold months.
Mao emphasizes, however, that Bitcoin mining is a dynamic process. Switching off the equipment is often a temporary reaction to the market situation. Should prices rise again, the break-even point could be attainable again for a large number of competitors. Then, according to Mao, the hash rate will rise again.
Difficulty also on the downswing
For those who have been around a bit longer, the direct connection between hash rate and difficulty is intuitively clear. For all others it should be pointed out that a lower hash rate also results in a decreasing difficulty. The difficulty is the dynamic indicator for the “difficulty”, i.e. the amount of computing power that the miners have to muster in order to propagate a new block.
Posted in Bitcoin mining
Infinitus has become immersed in a core problem that has long plagued the crypto community and found an amazing way to protect countless users from losing valuable data. With the INF token, Infinitus has created a smart data archive in which confidential information can be securely stored and retrieved.
A common criticism of the Bitcoin loophole
Is that there is no way to gain access to lost or forgotten private keys without control authorities such as banks: https://www.geldplus.net/en/bitcoin-loophole-review/. There are many notorious stories of unsuspecting crypto-enthusiasts who have lost thousands and even millions of dollars in Bitcoin loophole crypto assets due to poor security and unfortunate incidents.
None of these stories is more famous than that of Bitcoin pioneer James Howells of Newport, Wales, who requests permission from the local council to search a landfill after accidentally disposing of a 7,500 Bitcoin hard drive worth about $75 million.
Due to the cunning of hackers, it is more important than ever to use strict security and encryption measures to protect sensitive information such as private keys. However, this has led to an unfortunate trend where such security controls lead to data or file loss, which in turn prevents access to valuable crypto assets.
Currently, there is not a single all-in-one solution for the news spy
That solves this inherent problem in an easy-to-understand way by onlinebetrug that can be applied by almost anyone. Infinitus has not only solved this inherent problem in a revolutionary creative way, but has also created the solution to a host of other problems that have the potential to make the news spy use of crypto currencies more difficult for users.
Infinitus has developed INF Token, an intelligent storage system (SmartDes repository) to store digital data on the blockchain that is accessible only to a specific location (or person) and by a user-defined event. If sensitive data is lost, the smart contract is then executed and the INF token collects the data and sends it to the specified location.
For example, a new user who has invested in Bitcoin would like to create additional protection for their private keys.
He uses the standard soft and hard copy backups and also uses an INF token to store his private keys in the SmartDes repository. He downloads the INF app from the Apple App Store or the Google Play Store. He then sets the retrieval trigger to 90 days inactive and specifies his wife as the recipient.
In the event that he loses access to the soft and hard copy of his private key, he will log out of the INF-Mobile app for 90 days and automatically activate the INF-Smart-Contract, retrieve his keys and send them to his wife.
The data stored in the repository is fragmented, encrypted, replicated and distributed to all peer-to-peer nodes in the distributed network. INF tokens are used to store any alphanumeric data such as passwords, wallet files, private keys, JSON files, UTC files, keystore files, memory phrases, recovery seeds, and even short text messages.
This means that by using INF tokens, you can provide sensitive information with an additional protection mechanism that only you can access if that information is lost.
The core team consists of 10 members. It is led by Xanne Leo, a business consultant with proven success in the start-up scene, and Eric Song, a former stock and futures trader with portfolio management experience in a billion hedge fund.
Other core members are Dr. Ting Shang Ping with more than a decade of experience in financial technology and AI and Ronald Aai, a blockchain veteran who has proven his ability to lead new ideas to entrepreneurial success.
Infinitus counts the last days until the launch of the ICO, where the public can access INF tokens for the first time. The Infinitus Tech team also recently announced that the INF-MVP is available for Android users in the GooglePlay Store. Now they’re working on making the INF Wallet app available, with the release of the iOS version in the fourth quarter of this year, for receiving rewards in the form of
Posted in crypto community
The United States Marshals Service (USMS) announces the sale of almost 660 Bitcoin (BTC). In total, BTC with a total value of over 4.25 million US dollars will go under the hammer. The auction is scheduled to take place on November 5.
Bitcoin of the cryptosoft
According to the USMS, Bitcoin with a value of 4.25 million US dollars is up for sale. According to the cryptosoft, interested parties will be able to register between 22 and 29 October and place their bid after paying a deposit. If a bid is accepted, the deposit will be deducted from the cryptosoft bid and retained. Those who are left empty will receive their deposit of US$200,000 fully refunded. The message reads as follows:
“The winning bidder’s deposit will be retained by the USMS and credited to the purchase price. The deposit from a bidder whose bid was not selected as a winning bid will be returned to the original account from which the deposit was received.
The USMS plans to offer said Bitcoin in two tranches. The first round consists of six blocks of 100 BTC each and round two consists of one block of 60 BTC each. The offers are based on current market prices and interested parties must loosen at least 380,000 US dollars for the purchase. It can therefore be assumed that the auction is aimed specifically at institutional investors.
Bitcoin come mainly from crypto trader
The 660 BTC offered are confiscated tokens from various criminal and civil cases in recent American legal history like this https://www.forexaktuell.com/en/crypto-trader-scam/. The abbreviation DEA is frequently used in the processes listed by name. This stands for “Drug Enforcement Agency”, the US anti-drug agency. This leads to the conclusion that the majority of the crypto trader confiscated BTCs originate from the Darknet trade with prohibited narcotics.
In addition, the USMS announcement states that part of the BTCs offered were owned by Thomas Mario Constanzo. In March, a US court sentenced the Bitcoin trader to 41 months’ imprisonment for money laundering activities. The district court also ordered the seizure of 81 BTC, which are now also under the hammer.
Silk road sale still unchallenged
The auction follows a whole series of sales of confiscated Bitcoin by US authorities. We reported in detail on the auction of over 3,800 Bitcoin in January of this year.
The highlight of the long tradition of Bitcoin auctions, however, was the auction of the seized Silk Road Bitcoin. In three attempts in 2014 and 2016, the authorities offered a total of over 144,000 BTC from the property of Silk Road founder Ross Ulbricht for sale. One of the customers at the time, Tim Draper, has since become a dazzling figure in the Bitcoin cosmos. The billion-dollar venture capital investor made the USMS 40,000 BTC easier at the time and continues to cause a stir with bullish price forecasts. Whether Draper would like to participate also this time in the auction, is however not known.
Posted in Bitcoin
The criticised crypto exchange Bitfinex is relocating its banking operations to Hong Kong. The bagged “stable coin” Tether has also found a new bank in the Bahamas after the debacle over the Noble Bank.
As complaints from Bitfinex customers who could no longer make Fiat deposits increased, some saw a large-scale exit scam in progress. (False) reports of a supposed delisting of the stable coin by the Exchanges KuCoin and Binance did not help the USDT exchange rate any more than did the strengthening of the competition, for example in the form of the Gemini Dollar (GUSD).
Hong Kong and the Bahamas
Now both Tether and Bitfinex are said to have found new banks to handle their business. As The Block reports with reference to insider sources, Bitfinex is supposed to move to Hong Kong. There Bitfinex should maintain a private account with the bank PROSPERITY REVENUE MERCHANDISING LIMITED. Citibank is to act as an intermediary bank for transfers in US dollars to Bitfinex. PROSPERITY REVENUE MERCHANDISING LIMITED is owned in part by HSBC Holding. Bitfinex has not yet commented on the rumours, but an announcement by the company on October 16th has attracted attention: The Crypto Exchange has a “new, improved and increasingly robust system” for the transfer of Fiat currencies to Bitfinex.
Tether Limited, the company behind the stable coin, has also apparently transferred its banking operations from Noble Bank to the Bahamas. She has been a customer of Nassauer Deltec Bank for several weeks now. The bank is said to have already received initial enquiries from over-the-counter trading desks about the opening of accounts for USDT redemption. This is the result of insider statements made by The Block.
Tether price remains depressed
It is questionable whether the bank bill will help the image of the stable coin USDT. As long as Tether Limited does not have itself audited by every trick in the book, doubts remain as to whether the US dollar will fully cover Tether. So it is not surprising that these concerns are still reflected in the price of the stable coin. Currently, at 0.95 US dollars, the stable coin is still below the target value of one US dollar.
The recent price slump at Tether (USDT) has provided plenty of discussion material in the crypto community over the past few days. In view of the impending insolvency of Noble Bank, where the Bitfinex crypto exchange held most of its tether deposits, both Bitfinex and Tether had to look for a new partner bank. The fact that Tether and Bitfinex were customers of Noble Bank gave rise to speculation about the integrity of the crypto exchange. In addition, there were the entanglements of Bitfinex, Tether and Noble Bank, personified by Brock Peirce.
Posted in Bitfinex