Hello, as you know there are a lot of updates in the crypto niche about mining, cloud mining and other topics concerning one. We want to write about the most interesting from our side, so you could just check quickly everything and understand what is happening.
NiceHash was accused of fraud by FBI – This news appears at the Decrypt website. Really interesting story, so need to know about this mining marketplace.
Administrative Responsibility for Mining Bitcoin in Russia – in the State Duma such initiative was offered. So, mining can become non-legal in Russia very soon.
India citizens can have 10-years jail for using cryptocurrency – this punishment can be used for the whole crypto niches, for those who mine, sell or buy Bitcoin or any other crypto.
Old Mutual declined to insure mining equipment – it is one of the TOP insurance companies in Africa. The reason was of too high risks, so they decided not to insure any crypto business. Risks are connected with the market, it is not stable, there are a lot of scammers, the equipment price isn’t transparent, etc.
MSRise company created the new generation of efficient miners, more details on the website: https://msrise.io
One person from China was convicted of stealing electricity from oil production for Bitcoin mining. He laid the electrical cable along the bottom of the fish ponds. Preliminary damage is over $7000
Bitcoin mining produces more CO2 than some countries – over 22 megatons CO2 per year, it is more than some countries, for example as Sri Lanka. If we take mining of other cryptocurrencies, it will be over 40 megatons of CO2.
The Ministry of Economy of Abkhazia prepared project for crypto regulation in the field of mining. It is almost approved, so soon mining activities can be allowed on this territory. It can also be with temporary restrictions, cause social needs are in higher priority.
Plouton Mining is going to open the largest crypto mining farm in the North Amerika which will be provided by solar energy in California district, Mohave desert. 10-15 megawatts per day, 330 days for 12 hours each day. It is the future of mining, cause electricity will be cheap, green and help the industry to scale further.
Ukrainian company 1,5 year couldn’t get ASIC miners at the customs, which wanted X3 or X4 price for VAT, they win court and now they created a judicial precedent that will not allow customs artificially increase the price for customs clearance of mining equipment in the future.
Litecoin Miners Will Stay Profitable
Litecoin block halving will be in 56 days from the date 10th of June. Charlie Lee posted some statistics about mining profitability.
Also, check Chinese electricity prices for mining. So, even if profitability will become worth twice, it still remains profitable and miners will be able to earn with one.
ASIC NEW Type of Mining Equipment Fraud
The cost of mining equipment started increasing since May 2019 with the price of Bitcoin. The average price of Antminer S9j 14,5 TH/s was near $285, but for today the price is near $500.
The demand for Antminer miners increased rapidly over 30% and the most popular models become Antimner S9 13,5 TH/s and S9i 14 TH/s and S9j 14,5 TH/s. Mining market become again interesting for many, especially for fraudsters.
The Fraudsters sells Antminer S9 13,5-14 TH/s under the guise of the new S9j 14/5 TH/s. Visually it is very difficult to understand the difference, cause all stickers are changed. However, the text on the board itself cannot be changed because it is engraved. Therefore, focusing on the version of the hash board – the higher it is, the fresher the device. Check it obviously.
Pay attention for the price, if one much cheaper than the market value, then something is wrong.
So, how to avoid scammers:
buy equipment only in reliable stores
check on Bitmain website serial numbers on ASIC and hash boards
on the original S9j, the boards are fixed with screws
if you buy new ASIC, the stickers should be fresh, if it is dirty somehow, then it can be fake
check online how official equipment is packed, if you notice difference, pay attention on it
Updated Antminer S9SE from Bitmain
Bitmain prepared the new budget device for bitcoin mining Antminer S9SE and they were sold out in several hours.
It is more efficient previous models and the new batch of equipment is planned on the end of July.
Also, you can check new Antminer S9k – 13,5 TH/s power. Check here.
Bitcoin Price Hits $11000
Crazy days and Bitcoin shows us incredible results $11000+ per 1 BTC and it was less than 24 hours after it hits $10000. Then it went down, but not far, check cryptocurrency market visualization: https://coin360.com
Don’t forget about ETH and other coins. It becomes higher and over $300. Really great growth. Will Bitcoin hits $12000? We saw a poll on CoinGecko:
Also, pro trader Peter Brandt – Trader of classical charting principles since 1980. Author, #1 Amazon trading book Diary of a Professional Commodity Trader. Publisher of weekly Factor Service
Many people predict Bitcoin Price over $30000, $50000, $100000 and more, let’s work, don’t wait and we’ll see.
Facebook’s Libra Coin
Great hype around Facebook’s project Libra is one of the TOP news in June.