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.

Arizona promoting bitcoin payment bill

Arizona promoting bitcoin payment bill

Advance a legislative proposal of Arizona state legislator, may allow a resident of the state with bitcoin payment tax.

The media reported earlier this month, the Arizona legislature received legislative proposals, if approved, the taxpayer can use tax payment in bitcoin or other encryption currency. Bill dated January 9th.

Display the contents of the bill:

“Upon receipt of tax, the IRS will be in accordance with the mainstream exchange rate within 24 hours, the encrypted currency into dollars. And after the exchange of dollars in taxpayer accounts”.

Public records show that last week the Arizona Senate Finance Committee has to 4-3 through the move. The bill was in the Senate rules committee approval stage, but the finance committee will increase the possibility of bill endorsement.

The conversation with the local media in ABC15, a state senator, Bill drafting WarrenPetersen, and feedback from voters act requirements.

“Since I started working, I was surprised by the number of encryption currency holders more, than you might guess”.

The European Central Bank needs to pass legislation to control bitcoin

The European Central Bank needs to pass legislation to control bitcoin


Beijing 2, Bloomberg News reported, according to the OberoesterreichischeNachrichten newspaper, the European Central Bank Committee member EwaldNowotny said, how to deal with such as bitcoin encryption currency changed his mind, he now thinks the risk of money laundering through legal means processing.

At the same time as Austria’s governor Nowotny said in an interview with the newspaper, bitcoin is created is not transparent, and very suitable for money laundering, “for a long time, I always think that bitcoin investment should be a private problem. But I think we need to have the relevant laws and regulations”

Central banks are studying how to block chain technology application in the payment system, but is based on the basis of legal tender.

Bitcoin has been dug up 80% of total supply, bitcoin will be a hard currency

Bitcoin has been dug up 80% of total supply, bitcoin will be a hard currency

On the weekend of bitcoin ushered in its history the milepost moment, total flow flux of 80% bitcoin has been dug out, this also means that can dig only 20% bitcoin. First introduced the concept of digital scarcity in the village of the white paper, and soon the digital assets will be more and more difficult to get.

To be mined only 4 million 200 thousand bitcoin.

In 2018 January 13th, 16800000th bitcoins were dug out, this means that the number of bitcoins through mining obtained only 20% of the total. This code base in 2009 by Cong introduced to the public bitcoin supply of white paper, bitcoin has been limited. Bitcoin supply will not increase at the same time, Nakamoto this total is set to 21 million. So far, Nakamoto and white miners struggled to ensure the success of operation rules through the hash operation and will not be changed. However, in theory, some doubt that by 51% of the calculated force to attack or attacks and other means to manipulate the witch can increase the supply of bitcoin. With the development of the digital currency has experienced nearly ten years, no one can break the rules of 21 million of the total.

To solve the Byzantine Generals Problem

There is reason to believe that in the village to solve the equation for the most difficult problem — one of the Byzantine Generals Problem, it is a problem of security vulnerabilities decades of computer scientists. Usually, in the presence of distributed network in the problem, when the release process to bring some problems and security vulnerabilities will make the network more vulnerable. Because of this, it is very difficult to make the Treaty on the further proof, because in the network there is a proof of unsolved problems.

In the first bitcoin paper, Nakamoto introduced the mechanism of proof of work, it is a kind of economic means, through this method, can make the process of the attack on the network becomes very difficult, but this expensive and spend a lot of time. In the digital computing world, Nakamoto first introduced an asset, it can not be copied and will not be paid double. At the same time, he introduced the concept of digital scarcity, limited supply of bitcoin, which is in the field of science and technology on the There was no parallel in history.

Digital scarcity and a half

Because the supply of this encryption currency is limited, only 21 million pieces, which makes bitcoin will become increasingly scarce in it is more difficult to obtain. In most cases, when an asset is limited, at the same time and resources are difficult to obtain, the supply will lead to market demand. Bitcoin supply shows the quantity and to the man who bought it generated a huge amount of gap. Most of the bitcoin game player believes that the scarcity of digital will make bitcoin more valuable with time, especially now bitcoin has dug up 168 million pieces, it is more difficult to get.

In the process of mining because of the difficulty has been increasing, so the miners must always improve their work force. According to the current hash operation speed, the next time the Nuggets half awards will come in two years. This means that before each miners dug a block can get 12.5 bitcoins, and then becomes 6.25. Every four years the network consensus bitcoin mining half awards, making bitcoin more difficult to obtain, even for those in the world with a large amount of data for the deployment of the warehouse is the same. In order to continue to create profits, each participant in the process, including the ASIC technology itself need continuous improvement. Of course, bitcoin prices should be more than the money out of it.

Unlike Gerbaud 100 billion, bitcoin is only 21 million

We should consider another block chain in the observation in question is vast, the other 1300 kinds of encryption currency Nakamoto unlike existing invention, it is only 21 million. Other digital currencies have some circulation billions, through an unauthenticated share certificate mechanism also may supply billions were issued. Therefore, from the point of view of the nature of bitcoin invention creation is a kind of exchange of digital goods and today we compared the out of the ordinary. Unlike your MP3 or digital cinema, bitcoin can not be copied, by the end of last week, there have been 16800 bitcoins were dug out, there is a large number of bitcoins lost. For many encryption currency investors, any other things like the world, all of these make the Cong invention became a valuable digital assets.

Travel to the United States food giant Landry or will accept bitcoin payment

Travel to the United States food giant Landry or will accept bitcoin payment


Recently, the founder of TilmanFertitta Landry, said in an interview with CNBC, the rise of the Internet bubble and the encryption currency are similar, but he pointed out that bitcoin is real, and will continue to exist.

TilmanFertitta said that in the near future, his company will accept bitcoin.

It is understood that Landry company is an American tourist catering industry giant, has more than 500 stores in 35 states in September this year, TilmanFertitta and NBA Rockets owner agreed to $22 acquisition of the rockets.

The former FDIC Chairman: bitcoin should not be banned

The former FDIC Chairman: bitcoin should not be banned


27 am Beijing time, the U.S. Federal Deposit Insurance Company (FederalDepositInsuranceCorporation) nineteenth chairman Sheila – Baer (SheilaBair) on Tuesday wrote that bitcoin should not be banned.

Baer article excerpt follows:

In the past year, bitcoin prices have risen nearly 2000%, it has recently fallen sharply, all this makes the supervision departments issued a special warning.

For the purpose of regulatory agencies, found an asset bubble in jeopardy (any one within a year 2000% increase in the price of assets is a bubble) is painful. They know that the bubble will burst. They know that people will therefore loss. But what should they do?

Some people think that bitcoin in society did not play what role, therefore, should be banned. But as “beauty”, bitcoin has value in the eyes of the holder.

From the beginning of the rise of commercial activities, human beings have intrinsic value of some things is not always obvious given. Especially in the media, which is the trading currency, the reason we give it value only because the transaction with it better. No matter in ancient India shells, or today many of us put in wallet thin green paper (USD), its value exists in people’s cognitive psychology rather than its physical properties.

As for the legal currency, even if the currency is the government and the right of Taxation, and the central bank and the power of the printing press as a guarantee. When the loss of public trust in those institutions like a postwar German government of the Republic of Weimar, or Southeast Asian countries in 1990s the government loses public trust, the legal value of money would evaporate. Indeed, for some of the more reliable technology rather than government investors, because bitcoin lack of support for the central bank, so it is more valuable.

Admit that bitcoin as a medium of exchange of individuals and businesses so many, enough to expose the underlying behavior for trying to be worthless. Bitcoin: the prospect of eventually being widely accepted and direct P2P transactions allowed within the scope of global prospects, have a strong attraction.

In addition, different from the statutory currency, bitcoin supply is limited, and strictly limit the mining speed, which for many people as a store of value, and this is similar to gold.

Indeed, the market value of bitcoin today seem to be far more than the intrinsic value of these purposes. But this is not the first time for a common market value of the assets pricing is too high. In 1630s the Holland tulip bubble burst in Holland did not prohibit the tulip, and in 2000s the technology bubble burst when technology stocks has not been banned.

With respect to the bitcoin own value judgment, the government should do is to develop policies on the market do not add fuel to the flames of madness. Of course, the banks involved in the federal insurance organization should not be allowed to directly or indirectly support bitcoin speculation. The government should also take measures to ensure the bitcoin price — regardless of the market value, reflects the investors after obtaining comprehensive information decision, not by fraud or manipulation, and trading activity is not used to fund illegal activities. Fortunately, regulators have taken positive measures in these areas.

The U.S. financial regulatory agencies report: bitcoin will not threaten financial stability

The U.S. financial regulatory agencies report: bitcoin will not threaten financial stability


December 15th morning news, the U.S. Financial Stability Oversight Committee (FinancialStabilityOversightBoard) responsible for the supervision of the risk of the financial system, every year it released a report, the list of potential risks, in this year’s report, the Committee on digital currency (such as bitcoin) the threat of understatement, only in the 152 page mentioned.

Although Morgan chase CEO Jamie Damon (JamieDimon) and other financial giants have publicly warned that the encryption currency is doomed to collapse, but the Financial Stability Oversight Committee is not very worried. The Committee believes that digital currency impact on financial stability may be limited.

The committee pointed out in the report: “only a small number of consumers using virtual currency.” Innovation is supported by distributed ledger technology, this technology has wide application potential, the committee should give some support that. The committee also believes that the digital tide brings challenges to the regulators, because the digital information is stored, not stored, not for government supervision.

115 dollars to buy Lamborghini? Bitcoin make your dreams come true!

115 dollars to buy Lamborghini? Bitcoin make your dreams come true!

Peter Sasddington (PeterSaddington) is the co-founder of a company called VINWIN, his personal experience, through the use of cryptographic currencies, such as bitcoin, you can buy unbelievable valuables like Lamborghini.

Sasddington tells him how to investment from November 2011 bitcoin to buy luxury car experience in a October interview.

Sasddington made his first investment in the bitcoin price of $2.52. He is honest, he was almost killed by investment is a blind cat mouse, did not know this thing really can make money.

“I don’t believe in 2011 actually bitcoin can earn a lot of money for me, I hadn’t thought about. This is a risky proposition, I was more than I had planned the actual investment investment. “He said.

Now, his investment was finally rewarded, and very rich. Bitcoin is now worth more than $16000, Sardinia meal realized that he can finally achieve his dream to buy a super sports car.

Many users do not approve of Sardinia meal encryption currency to buy Lamborghini, because bitcoin prices continued to rise, and is likely to continue for many years, until more than $100 thousand.

His wife also strongly opposed by buying a car, whether it is real money or bitcoins, she think Lamborghini is too off. Then, he bought a Audi car. Of course, after that, the money spent.

One day later, at VINWIN, Sardinia meal colleagues drove his own Lamborghini to work. Sardinia put his son on a car at the driver’s seat on the play, and soon his son hooked on the car.

Sasddington’s wife saw their son holding a steering wheel like super happy, the idea has changed. Finally, they finally settled in 2011 with a $115 investment bitcoin for a Lamborghini.

Sardinia Dayton admits, because bitcoin prices continued exponential growth, the future of bitcoin prices may reach $20 million.

“But sometimes you have to reward yourself.” He said.

In a subsequent interview in November, Lamborghini has admitted Sardinia meal let him spend about $4000 every day, but he said he and his family are enjoying every moment.

“I love it very much, my wife and I have been driving it. We have been driving in our children to go to school, I certainly not to mention, each with a oil I smile.” He said.

In a second interview, Sardinia Dayton recalled a year ago he saw for the first time in the car parked outside the shop. But he never thought, after a year, because of the small traffic accident happened before a Humvee, he can finally buy the same car at a cheaper price.

The photo shows the damage to the car bumper and scratched the passenger door.

Now bitcoin prices are skyrocketing, Sardinia meal that he expects to receive more criticism, he told him about the purchase of the super sports car with bitcoin is a bad decision.

When a car he bought the news off the network, a lot of people and he discussed about bitcoin, Sardinia meal is also part of the people to accept the view.

“So, the fun is not driving a sports car, and communicate with those of the real new technology called bitcoin interested people there. Bitcoin is one of the most powerful and Lamborghini began talking about this emerging technology the best marketing tool. In my opinion, this will change the world.” He said.

This is good news for the Dayton sardinia. But in other parts of the world, bitcoin and other encryption currency is prohibited. Indonesia, India and Vietnam and other countries to take a tough stance on the currency. However, things are good, such as Japan is still the key factor of the rising value of encryption currency.

The global stock market crash bitcoin is soaring

The global stock market crash bitcoin is soaring

Bitcoin rose to $11000, since the volatility fell sharply, was approaching $9000, followed by a rapid decline in recovery, breaking the $10 thousand mark, there seems to be a large bitcoin initiative began Paohuo, a portion of the profits to lock into the pocket, this approach is consistent with reasonable, bitcoin in many countries regulatory policy changes, has been at the center of the whirlpool of contradictions in some countries, resolutely resist, some countries welcomed the recent Chicago commodity exchange (CME) announced the launch of bitcoin futures from the fourth quarter of 2017, then bitcoin prices ushered in a wave of soaring prices. But I believe many friends of money after the boom decide on what path to follow do not understand?

In fact, five good bitcoin has not been shaken, i.e. up the core logic still support the upward trend, but the callback time and need to determine the magnitude of the shock, like the stock market, up the core logic is the sustainable economic development of mankind, as long as the human society is the direction of progress, of course, good stock rise, but there will be twists and turns, for long-term investors hold the value of companies that enjoy human economic progress.

Bitcoin is the core logic of human ultimate form for currency expectations. Now people all over the world especially for the rich existing money are lack of confidence, in today’s national debt to global liquidity are far more than the total amount of GDP, the central bank can print money to fill the hole, not only the risk of exposure for many years but more and more, the rate of currency depreciation can not catch up with GDP the growth rate and inflation, we are most worried about money is not worth, the more rich people want more investment to buy, not to not buy equity, resulting in a huge bubble in stock and property prices, are in urgent need of an ideal currency under the vicious spiral appeared to protect their wealth.

Bitcoin is precisely to meet the expectations of the people all over the world currency, has become a global free currency.

The first thing to say is his biggest characteristic to the center – no issuer (i.e. banks), such as the central bank without your consent, you can print money to inexhaustible wealth, plunder you; your money in the bank every day to shrink, or even lose is stolen, but bitcoin is a a completely out of the bank, only to rely on monetary system operation of the Internet, no one can steal your bitcoin bitcoin, so you can ensure that your private property will not be affected by outside forces.

Secondly, bitcoin broke the national capital of foreign exchange controls, can be paid in the international flow, and low cost. For example, the credit card payment business fee cost is 3%-4%, and the use of bitcoin payment cost is only 0.5%~1%, so businesses are more willing to use bitcoin to pay the transaction, it also reflects the demands of free trade.

This year the new fuse bitcoin, the best hedge assets.

The recent global stock market began to plunge into the global stock market since the stock market crash since the end of the carnival, constantly refresh highs, but rose more than 30%, the Hongkong stock market is to recover a record high. Coin birds have to worry about the risk of boom bust, especially the potential risk of stock markets regardless of economic existence, or pull persist in wilfully and arbitrarily high bubble. But the real economy may not be able to keep up with the market pace, countries rely on proliferation of hot money to support a economic train going forward, but most of the company’s profitability and the ability of innovation of science and technology has encountered a bottleneck, it means that the traditional economy cannot pull the current population income to maintain growth. The rise of the stock market are just a few of the monopoly of the carnival, capital is also aware of the strong stronger reason, funds began to hold together for warmth.

Most of the enterprises in the future life can not be bigger, this will only exacerbate the social contradictions. Small businesses and ordinary people in the water, equivalent to the giant fish, if the water is evaporated, the fish can’t live. For global capital for polarization and social contradictions deterioration and fear the future, bitcoin became a natural hedge currency, the global economic turmoil, bitcoin is better. The recent accelerated rise has heralded the global economic turmoil began, the bird that coin storm soon to come, to protect their principal safety is the most important, how to do the defense can focus on the mutual gold commune said that the public number, message for hedging tips.

In fact, sell bitcoins at any time is a pity

In fact, sell bitcoins at any time is a pity

In November 5th, BtcTrade International ( trading platform, the evening bitcoin price of $7598, equivalent to 50393 yuan RMB, marking the bitcoin price exceeded 50 thousand yuan, which means that bitcoin from the beginning of the 15 year has been on the rise, and constantly refresh the historical high.

If current trends continue, the future you will find one day, coins and bitcoin may not hold, are two entirely different classes.

As an ordinary investor, concern is whether bitcoin investment can make money, but if you stand in a national perspective is concerned, if it can be used by me, behind the existence of some of the negative factors, if do not control the future, etc..

If the bitcoin as a currency, even if it is a bubble, with the general investment targets are different, the currency bubble, often because of spam, cause the malignant inflation. Notes with the government credit is completely linked, periodicity is very obvious.

Ten years ago, the pool of RMB (M2) was only 40 trillion, is now 165 trillion, or more than four times, if the number of currency increases, and is not a set of rules and convince users to continue to give the logic, then a sense of trust, will lead to similar gold, bitcoin and other non credit classes monetary assets have long been sought after.

Bitcoin with gold, there is no spamming problem, the circulation is known, is not affected by the impact of government credit, the main consideration of the valuation of the existing currency value. This makes bitcoin currency market natural will not be welcome, unless there is enough control method and ability, otherwise it is prohibited. If a country is able to handle bitcoin, bitcoin will become a new currency war nuclear weapons. This point has been found in Japan and the United States, or have already been found.

In November 4th 2017 Hangzhou Bay forum “, China, former governor of the Bank of China Internet Finance Association blockchain working group leader Li Lihui said, to bitcoin, as the representative of the etheric coin tokens, no country, no sovereign endorsement, no subject responsibility issued qualified, no national credit support, there is not legal tender. Is not a digital currency.

At present, bitcoin has “to China”, if investors want to invest in bitcoin need to consider the OTC market. Which is another reason for bitcoin prices.

In any case, data have shown that, in the face of rising bitcoin, at any time to sell it, is a worthy of regret!