Bitcoin miners in Russia is negotiating to obtain spare energy for energy companies

Bitcoin miners in Russia is negotiating to obtain spare energy for energy companies


In order to further turn Russia to sophisticated methods of encryption currency, the power plant has begun to sell bitcoin miners overcapacity.

According to local media reported on Monday, Russia’s largest energy supplier, the Russian Gas Industry Company and EuroSibEnergo is currently working with dozens of hope to negotiate with cheap electricity price miners.

According to reports, there is no finalized contract, but the company (EuroSibEnergo) is not in reducing opportunities for cooperation.

An interactive map shows that about 70 of the “potential” miners can benefit from the use of idle capacity.

The situation and encryption currency contrasts in Russia this week, the level of supervision.

Cointelegraph reported Monday, senior financial officials plan to prohibit the sale of assets to private investors bitcoin this encryption.


Deputy finance minister AlexeyMoiseev Rossiya24 said in a television channel, only qualified investors to obtain such assets, he believes that “it is difficult to oppose the” crypto currency is a “Pyramid scheme”.

At the same time, a new business owned by Moscow Kremlin Internet investigators are seeking to raise about $one hundred million in funding to bitcoin mining monopoly market, and to challenge the dominance of China.

Like those who expect Russia’s Gazprom (Gazprom) and EuroSibEnergo miner, the participants hope to use the Russian lower energy prices, to China large-scale competition.

How will the block chain change the future of the energy sector?

nnRush when comment: block chain in the field of energy applications has also been one of the experts talked about the topic. This paper explores how the new technology will transform the energy field, analyzes the shortcomings of the current energy model, and highlights the advantages of the block chain in solving these problems. Finally, the author also introduced Energi Mine’s solution to prove that people have begun to work in this direction.n
nTranslated by: Inan
What is a block chain?n
If you know nothing about the encryption domain, it is difficult to understand the block chain, which requires some technical knowledge. But the network has a lot of information about this groundbreaking technology and resources. The block chain is not open to use the product, it is not the same as other products.n
n”So what is the block chain, why do we need these daily consumers to pay attention to it?”n
nThe technology may have a significant impact on the future of the world economy, while changing and shaping our future lives.n
Block chains are a new technology that can rebuild the Internet and possibly avoid the legacy structure of the past. Trust exists in the core architecture of a block-chain network that has the potential to remove an intermediary or subvert its current mode of operation. This revolutionary simple agreement can use the de-centered public or private books to maintain transactions immediately and securely. No matter who is using it, it ensures a consensus, and this paradox shift will change how we understand the future of transactions, data and information, and how financial services.n
It is unquestionable that the chain-chain framework can virtually record everything and distribute any valuable things, as well as challenge and subvert the current central business model and energy sector.n
The current energy supply chain modeln
Today’s global electricity market is worth $ 2 trillion, controlled by a small number of large players. Energy companies tend to sell more energy at the highest possible price.n
The nature of the electricity market to make it to the development of the center, more and more individuals and businesses through renewable energy to produce their own energy. However, they still sell this energy to large energy companies.n
The existing model of the energy market has four main problems:n
nCentralization – A small number of large energy companies serve millions of customers – the price owner.n
nnTransparency – poor market liquidity and controlled by financial brokers. Electricity is OTC over energy companies or banks, so there is no transparency to energy users.n
nnLack of energy savings in energy use – energy companies make money by selling more energy, so they do not encourage users to change behavior.n
nnLack of competition – barriers to entry in the field are high, the complexity of regulation and the high cost of entering the market are two main reasons for monopoly operations in all major electricity markets around the world.n
nConsumers have shown more desire to control energy production and distribution. Many domestic consumers are now both power producers and power consumers, for example, through rooftop solar panels or wind turbines. This is mainly due to their incentives for financial and environmental issues, and the reliability of large energy suppliers is low.n
“We will see more consumers get rid of traditional utility models and use community plans or point-to-point trading arrangements to deliver energy demand,” said UK energy regulator OFGEM.n
Future energy modeln
The emergence of block chains and smart contracts will have a huge impact on the way the energy market operates and the way it delivers value to consumers.n
In addition, advances in artificial intelligence (AI) and the Internet of Things (IoT), smart meters, electric vehicles (EV), the introduction of renewable energy and clean energy, and changes towards smart cities will create a smart grid and change our production and The way to consume energy.n
The smart grid will be able to connect to consumers who will produce and store energy for people in need through a peer-to-peer network while avoiding utility companies. All transactions will be stored securely and visually on the block chain.n
In this new model, the energy companies themselves will not necessarily be replaced, but their business model will be forced to adapt to the new economy.n

Bitcoin mining helps Venezuelans through the crisis

nnnThe political crisis in Venezuela led to devaluation of the currency, people began to seek other shopping channels and profitability. Especially the domestic electricity subsidies to enable it to run a large number of coins and other encrypted currency mining equipment, from which a large amount of considerable income. However, because the current unregulated encrypted money field by the government’s blow, so most of the underground.n
nnTranslation: Annie_Xun
nVicious inflation is one of the products of Venezuela’s political crisis, and people are looking for alternatives to buying necessities. So by the advantage of cheap electricity, residents began to resort to Bitcoan mining.n
nThrough the mining monthly income of 500 US dollars, many residents to avoid the high cost of electricity, put aside the legal currency to digital money for a living.n
nElectricity subsidiesn
nAlthough the financial crisis led to the surge in domestic bitcoin prices, other alternatives have also received attention, including the currency. Of course, because there is a lot of subsidies for the power market, the general residents can take the time to spend more bit together to dig mine.n
nNicolas Maduro, the incumbent president, has drastically reduced his electricity bill and is almost free of charge, thus eliminating the general costs of running mining equipment and bringing great profits to the inhabitants of the crisis.n
nElectricity subsidies make mining profits up to $ 500, seen as a small fortune for countries in distress.n
nDemolition of the residents found that you can run a single month on a single device, you can achieve this goal.n
nHit the encrypted currencyn
nHowever, this is still a risk to the residents, because the government to combat such activities, digital currency is not regulated, so the relevant operation in a gray area.n
nAt present there is no special currency regulations, advocates or prohibitions are not all, but it is certain that the legislative and law enforcement departments are not so enthusiastic about the monetary activities.n
nThe report shows that miners were arrested for counterfeiting charges, so people in order to avoid the formation of underground market prosperity, while the Taibai and other mining activities, with high risk for high returns.n

The Brooklyn Microgrid project uses block-chain technology to share solar power

nnnIn the Brooklyn LO3 company to solve the world’s climate issues of sustainable energy technology and transformative block-chain technology, in Brooklyn launched micro-grid project, so that residents here to use the block chain sales of roof solar panels extra power Then
nnTranslation: Annie_Xun
nFuture power gridn
nSustainable energy and block chains are two worthy gambling. The former is the most effective way to overcome global climate problems; the latter’s potential to change financial and social structures remains to be explored. So why combine? Brooklyn LO3 is like this, and launched a related project to create a new type of energy retail model.n
nRecall the LO3 Sasha Santiago for the first time introducing this idea, Brooklyn residents Michael Guerra said, “That is shared economy, it is Airbnb, is an excellent step, is the 21st century.” In 2012, Guerra installed 24 roof solar panels. Now in addition to the summer to provide cheaper and more environmentally friendly air conditioning power, but also to the neighbors to provide electricity and get a return.n
nBrooklyn Microgrid operates an energy-sharing ecosystem that consumers maintain directly. These solar panels sell environmentally friendly points to residents through mobile applications. The use of block chain to achieve the set, the block chain is a bit of currency and other encryption technology, and more and more popular.n
nTo the center of the powern
nThe de-centralization of the digitized information books of the block chain makes the transaction safe. Block chains enable meters to communicate with each other reliably, and mobile phone applications give microgrid consumers the right to control transactions.n
nLO4 business development director Scott Kessler said,n
nn”Our idea is that not only is the rich people selling electricity on the solar panels, but the whole community.If you do not have high income, you need the cheapest electricity, we can still provide. We do not want to monopolize.”n
nnAfter the trial operation, LO3 plans to launch a micro-grid at the end of the year. More than 300 small businesses and families have expressed their willingness to participate. Brooklyn already has 50 power plants, mostly solar panels and small wind turbines. Guerra said, “I know after thinking that this is absolutely going to happen and can not fail.”n
nThis is a good case for the block chain to become useful technology, beyond the encrypted currency. There have been projects for the sectoral chain medical record file system, as well as international remittances, including the basic income model, and even the United Nations financial assistance program. Some people even put the block chain as the basis of a new Internet, a really decent and free internet.n
nDuke University (Duke University) economist Campbell Harvey said that the Brooklyn micro-grid is “a glimpse of the future”n
nn”The idea of ​​the block chain is done in a point-to-point manner, and the microgrids allow people to trade solar energy with each other without a centric intermediary.”n

Giga Watt: the correct way to participate in personal mining: mining machine hosting


Reporter: pencil leadn

nGigg Watt – tokens and fortunen
nBit coins began to pop, mining is a hobby activity. At that time we are mainly in the home computer, usually using one or two spare graphics card is enough. But today this way has been eliminated. Miners are turning to other ways. And now an ordinary person wants to participate in mining, then digging mining machine is undoubtedly the best choice. What is a managed mine? Before that, let’s take a brief look at the logic of mining.n
nIn traditional computers, enterprises run applications such as web servers, sales databases, and document management systems in a hosted environment. The main selling point of their drivers is security, reliability and bandwidth.n
nIn the digital currency mining, stability is essential, but the driving force is mining profits.n
nSeveral factors that affect the mining profit margins are: the price of the currency, the cost of the equipment, the computing power of the equipment, and the electricity bill.n
nBitcoin itself continues to appreciate, so that mining has become an industry, but also on the mine operator made a new request. So we now have digging special currency custom ASIC mine. Compared with the CPU and GPU, ASIC is more efficient, but still very power. The current miners use about 1.5 kilowatts of electricity. This is the power consumption of heating fans almost.n
nIn addition to power consumption, electricity costs vary from region to region. If you want to live in the United States of Connecticut or Massachusetts to dig Bitcoin, then you need to pay every day to pay the electricity will be far from the state of Worcester, Washington State to pay high tariffs. In China, Sichuan Province, the electricity is also at a low level, so there are a large number of mines built in Sichuan. So for many people, whether in low-cost areas where the deployment of miners will become the most important factors affecting the mining factors.n
nMineral Depository Servicesn
nFor large mines, large-scale production can make it very cheap electricity, and then the electricity generated by customer mining will be greatly reduced.n
nIn many cases, miner manufacturers offer different hosting options. You may buy a miner, let the mine to help you install the miner. And some so-called cloud mining, they may sell you a never see the entity of the mining machine.n
nThe largest-scale mined-managed project in the near term is the Giga Watt project from Venaci, Washington, USA. The project, by issuing the Giga Watt token, allows the toll holders to own the 50-year site free of charge for the mine. Specifically, each token corresponds to a mine power mining mine corresponding to the mine rental, such as a S9 mine power consumption is 1350 watts, then investors only need to come up with 1350 tokens, you can avoid The leasing fee is to host the mine and pay only for cheap electricity and maintenance. After the mine was scrapped, the token was still available to hold the new miners until the 50th year. This model is the industry’s first. GIGA WATT allows ordinary investors to have a very low cost cut into the mining industry opportunities. In addition, Giga Watt’s website can also be purchased on the mine.n
nAt present Giga Watt’s tokens WTT tokens are on sale, the deadline is August 1.n
nWTT tokens to buy official address: https: //
nGIGA WATT Minerals Purchase Address: https: //
nFor investors wishing to learn about the GIGA WATT program, please contact the project representative directlyn

We need six reasons for block chain skeptics

nnnJason Bloomberg is president of Intellyx, the world’s leading industry analyst and globally recognized as a flexible digital transformation specialist. In this article, he analyzed the current around the bitcoin and block chain under the hype of the need for calm, bold doubts of the six reasons. And pointed out that the focus on the block chain and Bitcoin great potential at the same time, but also calmly look at these subversive innovation in the existence of the potential risks.n
nnTranslation: Clovern
nIn my Forbes column, I have covered many new subversive technologies – and all kinds of innovations have a certain degree of rational bubble and exaggeration. In order to balance this faint thing, I try to raise some skepticism to some extent, but it is not like Debbie Downer, which always brings bad news to cold water, but helps people through Hype to more clearly understand the hot topic now.n
nHowever, for a theme (in fact, a series of topics), I was an outright skeptics, and do not feel any guilt: that is the bit currency and block chain.n
nAs early as 2015, I wanted to know whether Bitcoin had a real purpose. I was involved in radical radicals who wanted Bitcoin to lead the global financial system.n
nI have also used “hard bifurcation” for Bitcoin to solve whether the expansion problem is fatal to the encrypted currency, or whether at least the solution is not legitimate.n
nI have likened Bitcoin to bloodstone and pointed out that it was the value of the bitter currency that the illegitimate use of Bitcoin.n
nI have also questioned IBM’s long-term betting on the chain, and recently, I cited several reasons for skepticism about the block.n
nGiven the above-mentioned history of opposing attitudes, you may think that I have some prejudice against the Bitcoin and the block chain.n
nThen you are wrong.n
nI am skeptical about the odds and blocksn
nIn fact, I strongly support emerging subversive technologies and their applications – including block chains and Bitcoin.n
nHowever, as an industry analyst, my role is to publish a disrespectful trend in the market insights. Given the unique characteristics of Bitcoin and the chain of chains, these insights must come from a skeptical position – not just myself, but from the minds of the people who are in general.n
nIn other words, we need more people who are skeptical about the odds and blocks. The following is six reasons.n
nThe hype about this technology is almost out of control. In the idol circle, enthusiastic enthusiasts dominate most of the remarks, drowned a more rational point of view. Therefore, most of the people who hold these rational views are taking the burden and leave, leaving the circle.n
nThe same is true of the block chain. There are too many articles to promote “block chain is a breakthrough” or “block chain will change the world”, which led to people into a fanatical. Harvard University professors Marco Iansiti and Karim R. Lakhan said:n
nn”We are very worried about speculation.If you do not understand how the technology to gain a firm foothold, to coax the chain to carry out innovation, the situation is very bad.n
nnSolution to find the problem. For many people or companies, the typical pattern of technological innovation is a tricky problem. One or more of the suppliers noticed the problem and proposed a new solution. To reach a deal, the results you see, a market was born.n
nBut for the block chain is not the case. Now the situation is that the block chain enthusiasts look at the technology, began to brainstorm to find possible use cases. May find some business problems, and then the block chain is the most appropriate solution, and perhaps not – but this is some cart before the horse, as if from the wrong side of the formula to start.n
nThe complex problem in the bubble. Bitcoin is undoubtedly a speculative bubble, and as long as the bubble will eventually burst. But in essence, the bitcoin’s bubble has a big difference from all previous bubbles, from tulips to online stocks.n
nnDifference: Bitcoin / block chain is both investment and trading medium. When the tulip frenzy broke out, when the gold and silver economy survived. And the dot-com bubble burst did not affect the way we consumed or invested in stocks.n
nnAnd once the bitbell bubble burst, the whole trading framework around the bitcoin is likely to collapse itself. Of course, I may overdo this risk – but the risk still exists.n
nThe centrality of the deal will conflict with crime and compliance from beginning to end. Everyone realizes that they can steal bits of money and other encrypted currencies, and it is well known that Bitcoin is a payment tool chosen by blackmailers, secret net participants and other thieves. In addition, encrypted currency theft and illegal transactions are too easy to achieve, and can not be traced back.n
nHowever, these challenges – and the challenges of regulating bitcores or any other block-based chain-based trading system – are due to the inherent centrality of the technology.n
nIn other words, to solve these problems, we have to give up the use of Bitcoin or block chain of the most important original intention.n
nBitcoin “selfish interests” or “51%” attacks. Because of its essential distributed form, any block-based chain-based trading system relies on the cooperation of most of its participants. If 51% of the participants decided to betray the remaining 49% of the participants, then a small number of parties can do nothing about it.n
nSome people even think that the impact of this problem is even worse – perhaps one-third of the participants will form a conspiracy group, and ultimately get control. Cornell University postdoctoral Ittay Eyal and his professor at Cornell University professor Emin Gün Sirer explained:n
nn”[Block-based Bitcoin] agreements may be exploited by those who want to be profitable, and once the system has changed the mode of operation that everyone was satisfied with before, it was no longer honest enough to stop the control currency The development of large-scale pool. “n
nnelectricity. For Bitcoin, it is well known that mining coins need electricity and require a lot of power, but this is often overlooked. In addition, any block-chain technology that uses the same amount of work-proof mechanism as the bit-coal mining will consume a lot of energy.n
nAlthough Bitcover enthusiasts have realized that power cost factors are mining economics, there are more problems. Even if 10% of the emerging block chain business model clamored to get attention to the smooth start, these models of power consumption will be huge, and these power consumption will continue to grow, do not see the end.n
nTherefore, even if the chain-based business model based on the chain of a firm foothold, then they will consume a considerable amount of energy, just from the air conditioning to exclude the exhaust gas is enough to cause the Earth Icecrown to melt.n
nSpeechfulness: Think of Bitcoin and Block Chain as a subversive innovation with great potential and the corresponding risks. We all want to focus on its potential, but it is also a foolish thing to be able to look at its potential risks.n
nIntellyx has released Agile Digital Transformation Roadmap, which provides a flexible digital conversion roadmap, advises the company on digital transformation and helps suppliers communicate their experiences. At the time of writing, any of the organizations mentioned in this article are not Intellyx customers.n

Russia or prohibit the use of personal residential electricity, heat for bit currency mining

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nnnRaiders commented: According to Russian media reports, Russia is considering prohibiting the use of bit in the individual residential mining. And last week, Cointelegraph also reported that the country’s two major power giants are discussing miners in 70 locations using the remaining capacity for bitmember mining options. Ilya Massukh, president of the Informational Democracy Fund, said any mining activity in the country could not be efficient for the Russian economy.n
nnTranslation: Clovern
nRussia is considering banning the mining of Bitcoin in individual homes, although power companies are negotiating to give miners remaining capacity.n
nAccording to today’s Russian Today and local news agency RIA Novosti, the Informational Democracy Fund will suggest that the private network address should not be involved in the pool at the upcoming Internet Development Working Group meeting.n
nRIA quoted the president of the fund Ilya Massukh said:n
nn”Any [activity related to mining] carried out in the country is wasting electricity.”n
n”This may not be efficient for the Russian economy.”n
nnWhile Russia continues to defend against conflicting attitudes towards encrypted currency and block chain regulations. Last week, Cointelegraph reported that the country’s two major power giants were discussing miners’ options for using the remaining capacity for bitmember mining at 70 locations.n
nAt the same time, an organization co-founded by the Russian Internet investigators is trying to raise $ 100 million to fund a large-scale mining project, which claims its goal is to compete with China for market share, while China’s electricity costs are higher.n
nThe so – called riskn
nMassukh also refers to the so-called security risks involved in private Bitcoin mining, including the conventional “ventilation system that can not reduce the heat generated by the necessary equipment.”n
nHis remarks were exactly the same as the different types of security issues expressed by Vice Minister of Finance Alexey Moiseev, who last month proposed to ban the sale of encrypted money to all “non-eligible” ordinary people.n