Distributed Digest: Tuesday, January 8, 2019

Steemit.com blocks hackers for violating its terms of service, Coin Metrics research shows a significant decline among major Bitcoin mining pools, and the Status desktop alpha is out in the wild. Your daily distillation of crypto news for Tuesday, January 8, 2019: Steemit.com Resists “The Dark Overlord” The Steem social media site, Steemit.com, recently banned…

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Hive Criticizes Norwegian Government Amid Concession Cuts to Miners

Hive Blockchain Technologies has published an update regarding the company’s response to the Norwegian Parliament’s recent approval of a legislative bill that will restrict cryptocurrency miners from accessing the tax relief on electricity consumption available to other power-intensive industries. The release criticizes the government’s “unilateral” move to suspend the subsidy without consulting with representatives of…

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Government of Abkhazia Cuts Off Power to 15 Cryptocurrency Mining Facilities

The government of the Republic of Abkhazia has cut power to some cryptocurrency mining farms due to electricity concerns, state electric utility Chernomorenergo RUE announced in a Facebook post on Dec. 31. Per the announcement, Chernomorenergo cut power to 15 facilities with a total capacity of 8,950 kilowatt-hours (kWh), which is purportedly equivalent to the…

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Two Mining Companies Among Georgia’s Major Electricity Consumers

Two companies mining cryptocurrencies have topped a list of the largest consumers of electricity in Georgia. In this crypto-friendly nation, however, that’s not necessarily a sin or a disadvantage. Energy-intensive enterprises in the Caucasian country purchase the power they need at wholesale prices. Also read: Huobi and Major Russian Bank to Provide Legal Help to…

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Litigation Firm Files Lawsuit Against Nvidia for Statements Regarding Crypto

Shall Law Firm, an American shareholder rights litigation firm, has announced the filing of a class action lawsuit against Nvidia with regards to statements pertaining to the company’s outlook regarding the effect that declining cryptocurrency prices could have on the performance of its shares. Also Read: Bitcoin Whales and the Rise of Crypto-Fueled OTC Desks in…

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Learn About the BCH Network With Bitcoin.com's 'Mastering Bitcoin Cash'

At Bitcoin.com, our web portal hosts a developer section aimed at providing Bitcoin Cash (BCH) developers with the resources and tools to program killer applications using the BCH protocol. The developer.Bitcoin.com section has now added an educational resource for newcomers and veterans called Mastering Bitcoin Cash. The documentation offers a comprehensive overview of BCH basics…

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Chatter Report: Zhuoer Claims BSV Block Created ‘Accidentally’, Falkvinge Likens Code Review to ‘Legislation’

In today’s chatter report, Calvin Ayre eagerly welcomes Jiang Zhuoer to mine on BSV but then quickly changes his mind. Zhuoer reveals that btc.top created a BSV block by accident and Rick Falkvinge calls for code changes to be reviewed in the same manner as legislation.  Also Read: Linkedin Names ‘Blockchain Developer’ Top Emerging US…

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CryptoMining: Cheap Electricity in Iran Attracts Massive Foreign Bitcoin Miners

As very many bitcoin miners in the world have attempted to close down their mining equipment, other miners are doing everything possible to find alternative means of surviving. Iran has come out to attract overseas miners because of its $0.006 cost for each kilowatt consumed in one hour. This makes it one of the low-cost…

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Researchers Say Bitcoin Mining Is Far More Green Than Reported

A new report from CoinShares says that Bitcoin mining is much more environmentally-friendly than is normally reported. The usual narrative applied to cryptocurrency mining is that it’s very energy-intensive and damaging to the natural environment. Critics say that the increasing power consumed by mining outfits will lead to disastrous consequences in the future. It is…

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XRP does not have mining, but 80% of Bitcoin [BTC] are mined in China, says Ripple Chief Market Strategist

Cory Johnson, the Chief Market Strategist at Ripple, recently appeared on a webinar to offer his opinions on the recent market movement of Bitcoin [BTC]. He also spoke about the difference between various digital assets in the cryptocurrency space and the limitations of the technology of Bitcoin. Johnson began by saying that he wasn’t in…

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Profits Plunge With Prices as Bitcoin Mining Rigs Go Dark

Back in the days of the Wild West, gold prices would dictate the profitability of prospecting and mining. Around 150 years later not much has changed with regards to the economics of mining, however the commodity is a little different now. Flagship Mining Rigs No Longer Profitable Bitcoin has had its roughest week this year…

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Heat Your Home or Business With a Mining Rig

Bitcoin mining uses a lot of energy to power the processors, which in turn generate a lot of heat. We also use a lot of energy to heat up our living and working environment. If only we could combine… oh, hang on. Heatmine The precise level of harm that bitcoin (BTC) 00 mining exacts on…

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Nvidia Q3 Results Reveal ‘Crypto Hangover’ Due to Disappearance of Miner Sales

Nvidia released its earnings report for the third quarter (Q3) of 2018 today, Nov. 15, revealing that demand for Nvidia’s graphics processing units (GPUs) among crypto miners has dried up. In the financial results report, founder and CEO of Nvidia Jensen Huang said that the company’s “near-term results reflect excess channel inventory post the cryptocurrency…

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Principle Sacked Over Ethereum Mining

It has been reported by a local news outlet in China that teachers at a local middle school in the Hunan Province of Chenzhous, have been caught mining the second biggest cryptocurrency, Ethereum on school property. The operation allegedly was carried out for months on end but they didn’t go completely unnoticed The operation for…

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Canada’s DMG Blockchain Puts 85 Megawatt Crypto Mining Facility Into Operation

Canadian blockchain and cryptocurrency company DMG Blockchain Solutions Inc. has energized its new crypto mining facility, according to an announcement published Nov. 8. DMG states that the facility will start at 60 megawatts, and can expand its capacity up to 85 megawatts. DMG Blockchain Solutions initially revealed its plans to launch the station in July,…

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Mining Giant BitFury Wins $80 Million in Investments, Hits $1 Billion Valuation

Photo: The Bitfury Group / Twitter BitFury, one of the largest crypto mining companies, announced it had closed an $80 million round of private financing with global investment firms. Among the investors were such companies as Macquarie Capital, Asian financier Dentsu, European companies Armat Group and Jabre & Lian Group, and the merchant bank founded…

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Crypto Mining Difficulty Decline Could Bring Bull Market

The virtual currency market has been in a bear trend since the beginning of the year. Bitcoin has lost more than 65% of its value since its all-time high at the end of 2017. However, this bear trend could be arriving at an end. As reported by the cryptocurrency research firm Element Group, Bitcoin mining…

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China’s Bitcoin Mining Dominance Threatens Network

China is, by some separation, the undisputed world pioneer in Bitcoin mining — with Chinese mining pools controlling over 70% of the bitcoin system’s aggregated hash rate, a higher hash rate is better when mining digital forms of money as it expands your possibility of finding the following block on the chain and accepting bitcoin….

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Daily Byte: 10.25.2018

Sony ups the cold storage game, Binance publicizes charitable contributions, and more legal drama in Plattsburgh and India. Here is some of what’s happening for Thursday, October 25, 2018: Sony Developing Contact-less Hardware Wallet Sony Computer Science Laboratories, Inc, has announced the creation of a contact-less hardware wallet, per a press release published Tuesday. The…

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AMD: ‘Blockchain-Related GPU Sales in Third Quarter Were Negligible’

In its quarterly financial results report published Oct. 24, semiconductor manufacturer AMD reveals that “blockchain-related graphics processing unit (GPU) sales in the third quarter were negligible.” American semiconductor company AMD stated in its third quarter 2018 financial report that revenue rose to $1.65 billion, up 4 percent year-over-year, although the figure is below estimates of $1.7…

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