The approval of the Department of New York electric power supply to the bitcoin mining company, will boost the local economy

The approval of the Department of New York electric power supply to the bitcoin mining company, will boost the local economy


February 7th – New York wants to enter the bitcoin mining market, and provide power related work and income for the residents. Bitcoin mining could even help to revive the once industrial pollution industry depends on the local economy.

New York Power Administration (NewYorkPowerAuthority) approved will provide 15 thousand kilowatts of hydro electric power for the Coinmint company’s new bitcoin mining enterprises. Coinmint is currently operating in Plattsburgh with a bitcoin mine, the company expects the crypto currency market will continue to grow in the world, so you want to set up second mines to expand their business.

According to the bill, the power allocation will be sufficient to support at least $165 million in capital investment, and create 150 new jobs related to the proposed project. The project plans to rebuild an old metal smelting plant in Massena, and the installation and operation of up to 180 thousand in two years a bitcoin mining machine. Once completed and is expected to be fully operational, NCDC can handle 15% global encryption currency business.

According to local TV news reports, bitcoin miners into the area is the main reason can provide cheap and reliable power. New York electric power bureau is working with the hydraulic power value to improve the local economy, in the evaluation of an application, the number of distribution as a result of the jobs is one of the factors to consider.

The new bitcoin refinery plan all-weather operation, NCDC said, will be in 2018 and 2019 to hire 75 full-time employees, in order to provide employment for the minimum requirements of 150 employees. These include security personnel, technical personnel, IT electrician, installation personnel and operating personnel, the average wage is about $46 thousand a year.

The new factory site in the south of Canada, where the cold climate and cheap hydroelectric power to China bitcoin mining companies have great appeal.

Although hedge funds plan was delayed, Mike Novogratz is still optimistic about bitcoin

Although hedge funds plan was delayed, Mike Novogratz is still optimistic about bitcoin


There are always some interesting developments in the bitcoin world. MikeNovogratz was forced to cancel his first hedge fund plan. More specifically, the $500 million fund will not start. He also changed a few months ago bitcoin price forecast. However, in the long run, there is no reason to believe that his previous target is $40 thousand.

Recently, bitcoin prices forced people to rethink their original forecast. MikeNovogratz is no exception in this regard. Last night, he released bitcoin prices will continue for a period of time in the 10-16k message on twitter. While the extreme fell $8000 is impossible. The bull market will occur sooner or later suspended. When you see the bigger picture when this adjustment is necessary.

MikeNovogratz see the bigger picture

Although MikeNovogratz is still optimistic, but he is also aware of these problems affect bitcoin. Although no one knows exactly how the market will develop, but the overall popularity is still quite optimistic. Even so, we see the price of bitcoin has been restored in 36 hours. Despite the bullish momentum may be suspended, but the recovery will happen soon. Whether we can see major changes before the end of the year remains to be seen.

In the case of higher prices, MikeNovogratz also issued a separate statement. His $500 million encryption currency hedge fund short term will not be listed. Due to the fact that the new investors in the market situation, it is postponed. Although the back part of the vague but very interesting. No matter for what purpose, the team is still very optimistic about the encryption currency. When the plan when it will be interesting. But now it is still an unknown factor.

If the MikeNovogratz is right then everything will be good. So far these predictions seem to be very accurate. Although nobody expected that other things. But bitcoin is not a stable market. Without prior warning in case you can on the chart shows a decrease of 5%. Two days ago as investors showed panic, we may see some big price fluctuations. However, in the long term it will be resolved. The $40 thousand price of bitcoin is likely to reach $1000.

South African finance minister believes that bitcoin has great potential

South African finance minister believes that bitcoin has great potential


The development of encryption assets, especially in countries such as South Africa, finance minister MalusiGigaba said yes, government officials have clearly put forward the question.

At present, the encryption assets in South Africa was no policy limit, but the number of private enterprises in their internal operations and Gigaba are already and these enterprises dialogue.

Financial technology

Gigaba answered bitcoin opposition, when asked the government to issue encryption assets market development positions and whether he intended to regulate the market. He answered as follows:

“As indicated by the use of authorities continue to monitor and evaluate the virtual assets, and to the private sector stakeholder consultations. If necessary, can be issued further guidance or regulations,”.

“In December 2016, the Ministry of Finance in conjunction with the SARB, FIC and FSB also established a working group FinTech between the government, to amend the policy attitude for the development of FinTech, including encryption method of assets, and to deal with the new FinTech in the financial sector matters, such as raising the public payment platform, etc.”

“At present is to adopt a balanced approach to support the financial sector to enhance innovation, competition and financial inclusion, but also review the risks associated with financial consumer protection, money laundering and financial stability.”

And the Internet is similar

Gigaba said, FinTech is still in the early stages, there are large fluctuations and excitement, like the Internet, when it first began to take off quickly.

Therefore, the government hopes the turbulent period between innovation and protect the user’s balance.

The finance minister thinks that only the most powerful digital assets can rise and fall to early currency between.

The rapid development of

Of course, in block chain technology, government and enterprises have more vitality, because it has many applications in digital assets, rather than the destructive force.

He came to the conclusion as follows:

Block chain technology has great potential to be used to create other encryption currency. Block chain technology can be a kind of cheap, safe and effective method of the money will be transferred to the hands of users or organizations.

The company bitcoin founder “has been sold to private Holdings Company

The company bitcoin founder “has been sold to private Holdings Company


In Craig Wright (CraigWright) was founded on the basis of the company has been sold to a private Holdings Company, the former said this is so far involving bitcoin block chain technology, the biggest deal. Wright has claimed to be the founder of bitcoin.

The deal makes Wright again in the spotlight. The 46 year old computer scientist is bitcoin most controversial characters. He hopes to continue to play an important role in the future of this technology, and his goal is to create a bitcoin does not dominate, ungoverned global system.

“We will promote the development of bitcoin growth, making that outlook,” he said, “everything I do is to help expand the use of bitcoin, I hope the chain of at least 1 billion people daily use bitcoin. We have money, manpower and technology to do this.”

According to a press release on Thursday, the Malta based HighTechPrivateEquityFundSICAVplc bought nChainHoldings, “the leading global R & D core block chain”. The company did not specify the amount of the transaction, there is no mention of wright.

Reuters pointed out before nChain is for a hundred Wright bitcoin block chain related patent tools. The company formerly known as EITCHoldings.

According to the relevant records, with EITC and nChain in the name of the Target Corp has filed more than 80 patents and bitcoin blockchain.

The fund company in Malta did not respond to requests for comment mail. (Lu Tou)

Bitcoin prices rose to a new high of three years or ETF will be approved in the United States

Bitcoin prices rose to a new high of three years or ETF will be approved in the United States

According to Reuters, digital currency bitcoin reached the highest level in three years on Thursday, due to speculation that the first bitcoin Exchange Traded Fund (ETF) will be established to obtain U.S. financial regulatory approval.

The traditional financial players is not too like this network encryption money based on that variable is too big, too complex and risky, and doubt its intrinsic value.

This year has risen by 17% bitcoin, the Bitstamp exchange in Europe continue to rise by about 1% per bitcoin $1160. This price is only slightly less than $1163 in November 2013 hit the highest record.

Some analysts believe that bitcoin Exchange Traded Fund (ETF) approved the establishment, will allow the currency to the market more attractive to investors more cautious.

Three tracking bitcoin value ETF has the U.S. Securities and Exchange Commission (SEC) submitted the application for establishment.

In March 11th SEC will decide whether to approve Cameron and TylerWinklevoss submitted four years before the application. If approved, it will become the first issued by the entity and the supervision of bitcoin ETF.

Digital currency analysis company CEO Cryptocompare CharlesHayter said: “if approved, it will certainly give bitcoin prestige and strength.”

“Maybe the key will be to bitcoin funds. There may be frequent retail trading in the short term, but in the end will bring a certain degree of stability.” He said.

In the past year, bitcoin fluctuations on the maximum is about 10% compared with the traditional currency — is not stable, but the rate has been less than 40% times in 2013.

Bitcoin prices rose 125% in 2016, more than any one currency. This advantage is sustained since 2010 so far. The S & P 500 stock index rose 9.5% last year.

The British initiative to support SMEs bitcoin transactions

The British initiative to support SMEs bitcoin transactions

Recently, the British banking restrictions bitcoin and bitcoin users, enterprise & recharge and withdrawals. Some commercial banks even in the case without the knowledge of the customer to freeze the customer’s bank account, the reason is the development of customer bitcoin transactions threaten the banking industry.

In the UK opened bitcoin exchange business and suffered a serious blow, some enterprises and the stock exchange has been fully opened in the UK to stop service. If the British government support block chain technology, and bitcoin is the current block chain technology is the most successful application, no one can make bitcoin development in the UK becomes smooth.

Bitcoin trading restrictions, so that bitcoin users can continue to support bitcoin find another way.

Bitcoin trading platform in other areas

Is not to mention the current British pounds, bitcoin trading platform Cryptopay exchange closed in British service, so the British bitcoin users outflow.

The bitcoin users will P2P trading platform as the best way to escape the British banking “claws”. The trading volume of P2P bitcoin trading platform LocalBitcoins recently sustained growth, from the UK has contributed much to the user.

Not only is the P2P platform, bitcoin users believe that the UK will soon find bitcoin trading platform abroad also works well, for example in japan. Japan has a plan to legalize bitcoin digital currency, the new regulations will be formally implemented in April this year.

The bitcoin users initiative, avoid disclosing any information about bitcoin transactions, to avoid being removed from the banking service.

The small and medium-sized enterprise initiative to support bitcoin

In the face of endless crowding British banks, bitcoin users don’t want to wait. They plan to incite the small and medium-sized enterprises of UK banks dissatisfaction, promoting the circulation of bitcoin application in small and medium sized enterprises, in order to fight the British banking “play the gangster”

Bitcoin users in the UK, the British banking industry can not stop the development and innovation of bitcoin brings to the traditional financial industry, the final British banks still have to accept bitcoin has changed. Users believe that strengthening public acceptance of bitcoin, as well as promoting bitcoin between enterprises in the circulation can effectively reduce people’s dependence on pounds.

The bitcoin users believe that capital flows frequently, but the amount is not very small and medium-sized enterprises, it is suitable for use bitcoin transactions, they can not go to the bank to transfer and exchange, and endure the bank service delay. This is beneficial to the establishment of the underlying bitcoin ecosystem. Users are even used to small and medium enterprises in Scotland the negative emotions of the Royal Bank of Scotland.

The bitcoin users said,

In order to avoid the British banking industry and the existence of wide spread bitcoin is a long-term strategy, otherwise, bitcoiners (bitcoin users) will only have been pressing the bank.

Trump took office after the Sino US trade war may affect bitcoin

Trump took office after the Sino US trade war may affect bitcoin

Just won the presidential election Donald Trump often condemned China attracted the work of the United States, he sued for subsidies Chinese unfair currency manipulation and trade case solutions. He also proposed to levy tariffs of up to 45%.

“We cannot continue to allow China plunder of our country, this is what they are doing,” he told supporters in May when.

“Our economy is stronger than China strong, people do not understand this,” said Donald Trump in the presidential election.

If Trump choose this way, Chinese will fight back – it even say so myself. This will take Chinese to another close ally, russia. But the attitude of Russia against bitcoin will spread to China leaders will suppress China bitcoin miners (70% of bitcoin transactions by Chinese 4 ore processing pool) and currency traders, as reported earlier this month that the media.

Russian lawmakers raised in 2015, bitcoin is part of the conspiracy to undermine russia. “All these cryptographic currencies are created by US intelligence agencies, just to support terrorists and revolution.” Bitcoin miners may be affected, U.S. companies will certainly be affected.

“Then Chinese will take targeted measures,” China government in November 13th wrote in the global times.

This means that American companies are likely to face Chinese reaction, which is detrimental to the stock market and the dollar, and the pressure on the formation of gold and silver, one could reasonably argue that this is so far the bitcoin continue to do well the reason – the best performance in 2016 assets. As the global times written by American car, iPhones, soybean and corn era is over.

Chinese US trade war victim companies including Starbucks, Boeing and apple, and those enterprises placed big bets in the China.

Since Trump was elected president since becoming a trade war, the concept of headlines, while other aspects of his speech is very cool, though his appointment caused controversy. If he does not improve the Chinese attitude, may cause a strong counter attack.

“If the United States to impose high tariffs on imported products Chinese, so sensible Chinese is revenge back. China is too big, can not accept such a bully, “former US Treasury China ambassador DavidDollar ChinaFile wrote recently in the financial.

Luyitong Chia Nan Yun Chi to terminate the acquisition plan, bitcoin field biggest acquisition sale

Luyitong Chia Nan Yun Chi to terminate the acquisition plan, bitcoin field biggest acquisition sale

China manufacturer luyitong acquisition bitcoin mining Hard Suits Inc Scarlett Nan Yun Chi trading plan has been wasted.

The business is said to be because of concerns about the Shenzhen stock exchange regulators to cancel the. In June this year, according to the news that regulators have been considering whether to approve this acquisition. The listed company is the reason given by: “because of the objective situation in domestic securities market and regulatory policy changes, especially after the revision of” major asset restructuring of listed companies management approach “makes the introduction of the company to continue to promote this major asset restructuring will face great uncertainty. After careful study, in order to safeguard the interests of all parties and investors, the company decided to terminate this major asset restructuring.”

When the deal was first announced, there are some signs that there may be a problem. According to local reports, the Shenzhen stock exchange officials began to scrutinize the deal at the time. If approved, the acquisition will be bitcoin field so far the largest acquisition, the transaction involves the earliest mining hardware start-up companies in an electronics manufacturer and a publicly traded bitcoin field.

Jia Nan Yun Chi representative or a positive statement, said the company has experienced this for several months after the audit, the company will become more powerful.

Chia Nan Yun Chi CEO Zhang Nangeng (commonly known as’ pumpkin ‘) said in a statement:

“Although the company in order to complete the acquisition of a great deal of time and resources, but these efforts are not in vain. This will be beneficial to our future development. Jia Nan internal management structure more firmly, and refresh our public image, so that our products can provide reliable and efficient channels bitcoin technology solutions to the world. In addition, we will introduce our chip design technology applied to the field of artificial intelligence in the new.”

Chia Nan Yun Chi is best known for their Avalon series of bitcoin application specific integrated circuit (ASIC). The company is the first to enter the bitcoin market ASIC company, which permanently changed the pattern of competition in the direction of the bitcoin network add block. In the Finals held recently in 2016 fifth Chinese innovation competition in advanced manufacturing industry, Jia Nan Yun Chi in the final team championship, and eventually won the third place.

The company said, although the deal failed to achieve, but they still plan to launch 16nm bitcoin ASIC.

According to earlier reports, the listed company luyitong intends to 24.57 yuan / share non-public offering of 81 million 379 thousand shares, and pay 1 billion 60 million yuan in cash, the total price of 3 billion 60 million yuan ($466 million) acquisition of Chia Nan Yun Chi 100% stake in the company.

The Bank of England’s monetary policy adviser believes bitcoin flawed

The Bank of England’s monetary policy adviser believes bitcoin flawed

The Bank of England is now playing a very strange game. The virtual currency institutions are keen to publish their own country. However, they still do not love bitcoin, because they believe that bitcoin is the inclusion of flaws”. So when they make critical statements, it is not so surprising, after all, no bank will accept a digital currency they cannot control.

Interestingly, a representative of the Bank of England announced that the British in the short term will not adopt a centralized digital currency. However, bitcoin from which aspect is the center, this may indicate that they will not continue its plan to launch a BritCoin digital currency. At the same time, the Bank of England love blockchain technology very much, because it makes the center of banking institutions more efficiency.

The Bank of England that bitcoin was “flawed”

Yesterday, the Bank of England and the house of Lords held a meeting. The use of distributed ledger to publish the national virtual currency is a topic in the schedule. The decision must be made in a previous study, to determine whether this project can have much impact on the commercial banks or other financial aspects.

In fact, the establishment of electronic currency center is not the original assumptions so simple. For now, these plans are still a long way to go. There are many technical obstacles need to be overcome, but also related to the reconstruction of the entire financial system problems. The distributed ledger technology integrated into the existing infrastructure is a considerable challenge.

The central bank’s monetary policy consultant BenBroadbent said in a statement:

“When you talk about the central bank hit off digital currency, it not only replaces today we face responsibility. But it also foreseeingly instead of commercial money, yes, this is still a long way to go. This is not only for technical reasons, it is reshaping the financial system problems.”

But Broadbent seems a bit extreme, he said bitcoin is “flawed” currency. This is not unexpected, because the world does not have a central bank will hold to the center of the encrypted currency. That’s partly why these institutions want to accept block chain technology, because they can create a control solution allows private.

The UK Department for work and pensions is testing a GovCoin token. The use of this special solution review block chain technology in welfare payments on. However, there’s still a lot of regulatory concerns need to be addressed in the future.