Posts Tagged ‘zcash’

Bitcoin Georgia

How The Tiny Nation Of Georgia Became A Bitcoin Behemoth.

April 23, 20188:15 AM ET ANDREW NORTH https://www.npr.org/sections/parallels/2018/04/23/597780405/how-the-tiny-nation-of-georgia-became-a-bitcoin-behemoth

Georgia is now ranked second in the world for cryptocurrency mining — behind only China.

A single U.S.-based technology company called Bitfury has been accounting for much of this mining activity, from a vast data center filled with computer servers which it opened on the outskirts of the capital Tbilisi. It has generated plenty of controversy too over claims that it received overly generous terms for its electricity bills. But scores of smaller data centers have now sprouted up, with many more people mining from home with processors bought online from China.

making an average of $800 a month mining a currency called Zcash, with the extra electricity load costing about $80.

Bitfury has also been talking to the authorities in nearby Ukraine about using blockchain technology to run future elections there.

When supporters log on to its website, they are given the choice of allowing their computer processors to be used to mine Monero, a newer virtual coin being marketed for its extreme anonymity.

Facebook groups now regularly advertise conferences and gatherings to share ideas, addressed by people who call themselves “blockchain evangelists.”

Like the original Klondike, Georgia’s digital gold rush has attracted some colorful characters hoping to make their fortune.

Take Andrew Thornhill, an energetic financial entrepreneur from Chicago and founder of a cryptocurrency startup called Spotcoin. He first came to Georgia a decade ago to provide Internet-banking advice. In 2011, he was briefly imprisoned for fraud, but he says his conviction does not restrict him from running a financial business either there or in Georgia.

Concerns that cryptocurrencies are being used as a money-laundering vehicle have been overdone, Thornhill says when we meet at Spotcoin’s Tbilisi headquarters. “Criminals are using dollars and euros every day, but we don’t blame the currencies,” he says. And blockchain technology has the potential to make financial transactions far more secure, he maintains.

 

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bitcoin

Bitcoin slides amid rollercoaster ride

30 November 2017

http://www.bbc.com/news/business-42178705

bitcoin rollercoaster

Sir Jon Cunliffe, the Bank’s deputy governor for financial stability, told the BBC on Wednesday: “People need to be clear this is not an official currency. No central bank stands behind it, no government stands behind it.”

US regulators have moved towards treating some of them as currencies, whereas Korean regulators see them as commodities.

A steady stream of about 3,600 new Bitcoins are created a day – with about 16.5 million now in circulation from a maximum limit of 21 million.

Bitcoin’s Price Swings Have Been Especially Crazy in the Last 24 Hours. Here’s Why

By David Meyer  http://fortune.com/2017/11/30/bitcoin-9000-price-plunge-recovery/

To spell out precisely how volatile we’re talking here, it lost $1,000 in value in the space of around 10 minutes.

the IRS just got a court to back it up in its demand that Coinbase hand over details of thousands of accounts that have been high-volume bitcoin traders, so it can collect back-taxes for unreported transactions.

Vitor Constancio, the vice-president of the European Central Bank, warned on Wednesday that people should think twice about buying into bitcoin at this stage in the game.

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more on bitcoin in this IMS blog
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Zcash

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Zcash

Zcash (ZEC), the new digital currency lauded for its privacy features, is launching today amidst some massive hype. But until enough tokens become available on exchanges, Zcash enthusiasts are poised to acquire their ZEC first-hand by mining for it, either by setting up a home rig or by signing up for a cloud mining contract.

https://plus.google.com/+PatrickUlrich/posts/JEKNvhvwUHZ

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more on bitcoin and digital currency in this IMS blog:

http://blog.stcloudstate.edu/ims?s=bitcoin