Japan-South Korea blockchain payments enter trials Friday- Nikkei Asian Review

TOKYO — Banks in Japan and South Korea begin tests Friday of blockchain technology from U.S. developer Ripple, aiming to achieve same-day internation

Source: Japan-South Korea blockchain payments enter trials Friday- Nikkei Asian Review

TOKYO — Banks in Japan and South Korea begin tests Friday of blockchain technology from U.S. developer Ripple, aiming to achieve same-day international funds transfer while cutting costs by nearly 30%.

 SBI Ripple Asia, part of SBI Holdings, leads a group of 61 Japanese banks spearheading the trials. DAYLI Intelligence, a Seoul-based provider of blockchain solutions, takes the lead on the South Korean side. The tests will involve many of the Japanese financial institutions including Sumitomo Mitsui Banking Corp. and Resona Bank as well as two major South Korean banks.

Blockchain technology eliminates the need for centralized clearing operations, relying instead on all members of a network to confirm transactions based on their own decentralized copies of that network’s transaction history.


Coin Payments – Accept over 85 altcoins now for only 0.50% Integrated payment gateway for cryptocurrencies such as Bitcoin and Litecoin – 

CoinPayments is a cryptocurrency payment website which allows you to store your digital currency online in their wallet. It works in same way as your physical bank work. They accept more than 75 different types of altcoins where their transaction fee is only 0.5%. This fee is same for all types of investors. The company is registered and based in Canada and known as one of the most authentic and legit cryptocurrency payment platforms.

Here you can mine / mint your own Crypto Currency!



bitbond small business loans

bitbond bitcoin lending

GoByte – Masternode Easy Setup – Video Tutorial

GoByte - Masternode Easy SetupOne of the best kept Open secrets of the CryptoSphere!

The list of commands lines you’ll have to use:

sudo apt-get update

sudo apt-get install build-essential libtool autotools-dev autoconf pkg-config libssl-dev

sudo apt-get install software-properties-common sudo add-apt-repository ppa:bitcoin/bitcoin sudo apt-get update

sudo apt-get install libdb4.8-dev libdb4.8++-dev

sudo apt-get install libboost-all-dev

sudo apt-get install libminiupnpc-dev

sudo apt-get install git

git clone https://github.com/gobytecoin/gobyte

cd gobyte

sudo apt-get install automake


./configure make

cd src strip gobyte-tx strip gobyte-cli strip gobyted mv gobyted gobyte-cli gobyte-tx ~/ cd ~/ rm -r gobyte

mkdir ../root/.gobytecore

nano /root/.gobytecore/gobyte.conf

The .conf file exemple: rpcuser=randomname rpcpassword=superpassword rpcallowip= listen=1 server=1 daemon=1 logtimestamps=1 maxconnections=256 masternode=1 externalip= masternodeprivkey=

Join our growing community! https://discord.gg/wAhvYKf


What Is Gobyte?

GoByte is a brand-new cryptocurrency that has been recently developed. It’s a type of digital currency that is said to be completely secure through the use of a cryptography. It is issued through a decentralized mining system and market. The platform is based on the Dash system and is further taken and resolved with a unique version still in development. There is a specific masternode technology apparently that offers a 50% reward base and nearly immediate, completely secure payments. Not only that, but it is all said and done in an anonymous way with all transactions.

Changer.com - Instant Exchanger
Changer.com – Instant Exchanger

How Does Gobyte Work?

Gobyte is said to be one of the largest emerging start-ups that uses cryptocurrency. And it has supreme potential for very fast, rapid growth and expansion. There is a proof work system, that is a developed and available for everyone. It’s all based on a proof of work environment that is said to make it all stable and accessible, as well as safe for everyone who uses it. They use advanced GPUs or Graphic Processing Units as miners that hold the Masternodes.

  • Algorithm – This is a hashing algorithm developed on a NeoScript.
  • Block Reward – The rewards for blocks are 15 GBX and decrease by 12% each year.
  • Max Supply – There is a maximum supply of 31.8 million available for the network.

The Gobyte Blockchain is said to be super-fast, nearly like the speed of light and transactions operate in the same manor for instantized integration with InstaSend. It’s also designed to be one of the most secure networks according to the company. They use a POW system and masternode type of network that is designed to help protect all transactions. The platform is completely resistant to Asic issues. It’s said to completely surpass other systems currently being used and mining runs on GPUs.

The benefits of using Gobyte are said to be many. For one, as stated, the algorithm is Neoscrypt. And the block time is only 150 seconds. They are projecting a supply of about 31-32 million. And again, the masternode is 50% of the block reward. You do need a 1000 GBX for masternode capability apparently. And the block reward of 15 GBX will drop by at least 12% throughout each year. There is superior difficulty as well for retargeting making it a completely unique platform. And the Dark Gravity Wave is said to be one of the most advanced technologies on the planet. The entire system is said to be one of the most advanced when it comes to privacy and security.

All transactions are promised to be 100% anonymous and secure through the darksend project. This is what makes retargeting difficult apparently and it works through the dark gravity wave. The masternodes are what is promised to keep the entire platform transparent and honest. It works in conjunction with instant send.

Gobyte GBX Conclusion

If you’re into cryptocurrency or looking to get into the industry, mining is the way you make the real money. GoByte could be a great company to work with,… More at source


The official Bytecoin wallet, made for mobile. Privacy, security, simplicity.

The official Bytecoin wallet, made for mobile. Privacy, security, simplicity.
Bytecoin Mobile Wallet is the most secure and reliable way to store and manage your BCN.

Bytecoin Mobile Wallet lets you:

-Send, receive and store your Bytecoins
-Stay totally anonymous with untraceable transactions
-Get real-time Bytecoin rates
-Generate the QR code of your wallet addresses
-Automatically convert your BCN to BTC and USD
-Simply generate, copy and share your wallet addresses
-Set dynamic fees, manage anonymity level and Payment ID
-Use up to 10 addresses with one account

Contact us if you need support or would like to suggest a feature at bytecoin.org/contacts

  Bytecoin Wallet- screenshot thumbnail     Bytecoin Wallet- screenshot thumbnail     Bytecoin Wallet- screenshot thumbnail

   Bytecoin Wallet- screenshot

   Bytecoin Wallet- screenshot

   Bytecoin Wallet- screenshot

November 9, 2017


Current Version


Requires Android
4.1 and up





Offered By

Gary Ian Brown



Attention HitBTC Traders: November 9, deposits and withdrawals will be disabled from 11 to 13 UTC due to planned technical maintenance.

Dear traders! Please be informed that tomorrow, on November 9, deposits and withdrawals will be disabled from 11 to 13 UTC due to planned technical maintenance. Thank you for your understanding and our apologies for the inconvenience.

HitBTC is a  cryptocurrency exchange that launched in 2014. By August 2017, HitBTC had a market cap of over 100 million USD.

The most advanced cryptocurrency exchange to buy and sell Bitcoin, Ethereum, Monero, Zcash...
The most advanced cryptocurrency exchange to buy and sell Bitcoin, ByteCoin, Ethereum, Monero, Zcash…

Cryptocurrency operations

  1. What is the minimum cryptocurrency deposit or withdrawal?

    The minimum withdrawal for each transaction is determined by network fee, and the withdrawal sum must be larger than the fee.

    There is no minimum deposit limit for cryptocurrency operations.

  2. What are HitBTC’s fees for cryptocurrency deposits and withdrawals?

    No fees for deposit and minimal network fee for withdrawal.

    Currency Deposit Withdrawal (Network Fee)
    BTC No fee Flat rate 0.00085 ฿
    LTC No fee Flat rate 0.001 Ł
    DOGE No fee Flat rate 1 D
    NXT No fee Flat rate 1 NXT
    BCN No fee Flat rate 0.01 BCN
    NBT No fee Flat rate 0.02 NBT
    XDN No fee Flat rate 0.001 XDN
    QCN No fee Flat rate 0.005 QCN
    XMR No fee Flat rate 0.1 XMR
    FCN No fee Flat rate 0.000001 FCN
    LSK No fee 0.1 LSK
    STEEM No fee 0.01 STEEM
    SBD No fee 0.01 SBD
    EMC No fee 0.01 EMC
    SC No fee 10 SC
    ARDR No fee 1 ARDR
    ZEC No fee 0.0001 ZEC
  3. Can you cancel my transaction?

    All transactions on any cryptocurrency network are designed to be irreversible and we have no control over them. Knowing this, it’s extremely important to make sure your transaction details are correct before you click send.

  4. Can I transfer funds from my HitBTC account to another HitBTC account?

    There is no special option for internal transfers between two HitBTC accounts. This operation should be performed as your regular withdrawal.

  5. I have 0.1000000001 on my Trading account. Can I transfer the full sum to the Main account?

    The minimum transfer sum is 1 satoshi, or 0.00000001 BTC. The smaller amounts of Bitcoin will remain unavailable on your Trading account till the total sum reaches 1 satoshi, which you are able to transfer to the Main account.

Bytecoin.org – A screenshot of our mobile wallet!

Hey Guys! We would like to present you with a screenshot of our mobile wallet! It should have been on time but there are some problems with getting it loaded in the Apple store but we plan to release it as soon as those issues get resolved. – Jenny Goldberg

Trade ATS Tokens on HitBTC (BTC & ETH pairs available)

Buy and sell on HitBTC - CryptoCoins
Buy and sell on HitBTC – CryptoCoins


We would like to announce that the Authorship Token is available for trading on HitBTC, one of the worlds largest crypto trading platforms.

Both the ATS/BTC and ATS/ETH pairs are available.

We also want to clarify a few things regarding the recent low price the ATS token is being traded at as we received numerous inquiries about what can be done about it and why the Authorship team isn’t doing anything about it.

One of the main reasons for the price drop is that most bounty participants sold and still sell their tokens for the lowest price they can receive, being impatient to convert the tokens to ETH or BTC even if they receive 10 times lower than the recommended trading price. Unfortunately, this is an aspect the Authorship team cannot control, many do not care what they receive, and until all those cheap tokens aren’t being bought by serious long term hold investors, the price will bounce between this low prices.

If you are an investor, you should see this low price as an opportunity to acquire more tokens for a much better price than the ICO cost was. Our project is only months away from being launched and while we aren’t allowed to speculate the future value of the ATS token, we are confident most of the investors are aware of the impact the project launch has over a token’s price. This is also an opportunity for investors to reach a profit sooner by purchasing cheap tokens. By the time the price goes over the recommended minimum trading price, you’d be in a healthy profit. This is an opportunity we warmly recommend investors not to miss.

We also want to let everyone know that our team is working hard on building the project we raised funds for and we expect a beta version to be ready in the coming months. One of the most requested features authors asked about was the “one click import” of their Amazon published books. We are happy to announce we have implemented that feature so that authors can automatically import all of their published books into the Authorship platform with just one click.

We’ll publish updates on our blog from time to time to keep everyone updated about the status of the project. Also, it is expected we’ll get listed on another important exchange in November (more news to come).

ATS/BTC trading link: https://hitbtc.com/exchange/ATS-to-BTC

ATS/ETH trading link: https://hitbtc.com/exchange/ATS-to-ETH

Buy and sell on HitBTC - CryptoCoins
Buy and sell on HitBTC – CryptoCoins



Authorship.com Team

The easy way to mine Cryptocurrencies with your smartphone


One of the best applications for mobile mining is MinerGate App. Explore this App from its installation to implications of use to generate a passive income.

Source: The easy way to mine Cryptocurrencies with your smartphone – Official Minergate Blog

mobile Minergate

The most important thing about mining cryptocurrency is the “hashrate” that you can make every second (H/s), it’s the number of mathematical processes you can solvewithin a second range. That is why its important that you mine with all the equipment you can use, desktop, laptop computers and why not, your smartphone.

One of the best applications for mobile mining is MinerGate App. We will study this app from its installation to the technical implications of use to generate a passive income in the best way without over heating your smartphone.

mobile mining Minergate

CPU mining is an exclusive for Cryptonote algorithm because it does not use ASIC computers and in some cases it does not use GPU, so mining is easier and you can do it on any PC, Mac, Linux, Android Tablet or Android Smartphone.

To do this you need to install the app from the following link on Google Play 


The app is designed to choose three mining difficulties that range from the lowest to the highest and this implies more or less energy consumption. The app can be used on any Android device.

The Highlight Features

  • You can mine from your mobile device.
  • Check connected devices and balances.
  • Chat with other miners at MinerGate in your language.
  • Connect to your MinerGate account.
  • Withdraw coins from your account.
  • Check cryptocurrencies prices.
  • Buy and control your Cloud Mining contracts.

First Impression.

The application covers all information from your MinerGate account, easy to understand and graphically friendly. With a single click you can start mining by choosing the currency you want.

With the application you can monitor your mining process, the number of miners working, the amount without confirmation, the amount mined and wallet.

You can chat with the community to find out about the trends or consult any technical problem that the community can solve.

Mining Test Drive

 My test drive was made with a Motorola Droid Turbo 2 with Octa-core (4×1.5 GHz Cortex-A53)mobile dashboard Minergate

My first attempt was mining Monero, working with the 8 cores and with a medium difficulty. I made a 40H/s hashrate without any other background application opened. The phone had no operating problems while mining, there were no crash problems, I only noticed that the battery was decreasing fastfor long time mining, you need to be connected to the charger.

After fifteen minutes of battery use, the battery is draining very fast at 10% every 5 minutes. I can notice that the temperature of the cell with cover increased considerably, so I proceeded to remove the cover case and to connect it to a charger.

mobile MG

Mobile mining is risky since you demand 100% of the processor versus the time that you have mining, so I recommend that you mine for short periods without charging at the same time. Only use the battery power to not overload the processor and burn your phone.

You need to have your phone in a cool and uncovered environment for mining.

Mobile mining vs Desktop mining

Surprisingly in the test with one 2012 iMac, 2 laptops and a 1 Motorola smartphone, the winner was the Motorola Droid Turbo with a better hashrate in Mobile mining, partly because of the processor and the amount of cores it has. However, the result, apart from surprising me, shows that the smartphone has a better CPU processing to mine. (The mobile mining was with Minergate app for smartphone versus desktop mining for Mac and PC mining Monero).

If you live in a cold climate you will not be inconvenienced with the heat that can generate the battery or the processor, but I recommend you choose the lowers rate version to mine.

Mobile mining requires dedication effort and lots of technology and if you have the right tools, you can control and optimize your resources.

The best tool for monitoring your miners

mobile Minergate calculator

MinerGate app gives you everything you need to manage your Minergate account without having to log in from a PC. Chatting is one of the best tools. I consider it to be a necessaryin cryptocurrency because it helps you to find daily mining topics.

The community is so large that you can find chat rooms for every language you need. It has supports from Spanish, EnglishRussianItalian and more.

MinerGate app has a calculator that can help you to get an idea of how much H/s you need to see the reward in each of the coins you want. As well as the current prices of each of the currencies graphically. This is a necessary tool to evaluate the competitiveness of each currency.One of the advantages of the app, that many of the community of miners in the world like is the reward by recommendation program.

The mechanic of this program is if you share a link with your family or friends and they register through that link you can receive rewards.

The tool that I liked the most is the status bar of unconfirmed, it is a graphical way to know your goals in the short term, so you can focus more on one currency versus another currency that needs more time to undermine it. This bar is only available in the app. The desktop version only shows “pending to confirm number.

It´s an effective way to control and monitor your miners remotely, either using the MinerGate platform or other console mining platforms like CPUMiner-Multi, Yam miner, ccminer-cryptonight.

Last but not least is the support of languages available in English, Portuguese, Traditional Chinese, Simplified Chinese, Indian and Russian. Everything including menus in the language you need.

The future is now and you are living the birth of a new monetary system based on technology. Discover it!



Fund Voting Update, Nav Coin Korea Live and Discord Launched – Nav Coin

In this week’s report we have an update on the community fund network vote which is currently underway. We’ve been listed on the korean exchange UpBit and released the full korean translation of our website. We’ve launched the official Nav Coin Discord channel and more. Check it out. Community Fund Vote Update With less than 24 hours to go in the current voting period for implementing the community fund, “yes” votes are nearing 50% in total, with around 33% defaulting to “no” because they haven’t updated the wallet yet. Of those who have updated their wallet to v4.0.6 and cast a vote, an overwhelming 92% of votes are for “yes”. Even though we will not reach the 75% consensus this voting period, the vote is only just beginning really. The voting periods will continue to roll around and we only need to achieve the 75% consensus in any given period. For those of you who have already cast your vote, keep your wallets online and staking to have your say. For those who haven’t upgraded to

Source: Fund Voting Update, Nav Coin Korea Live and Discord Launched – Nav Coin

The UTRUST ICO is only one week away!

The UTRUST ICO is only one week away! For the first time in cryptocurrency history, users will be able to join the first ever blockchain-powered payment platform with a built-in escrow and dispute resolution service! The UTK token will allow project supporters to use the platform with no fees! 

“UTRUST is the first cryptocurrency payment solution in the world that provides buyers with a purchase protection mechanism. The next-gen version of PayPal is blockchain-based and designed to make online payments safer, faster and cheaper.’’

UTRUST is a cryptocurrency payment platform whose main value proposition resides in its unique built-in payment protection mechanism which aims to bring more trust and transparency to crypto-currency payments – ultimately, UTRUST will provide a solution for the skepticism and mutual trust issue that often surrounds new technologies in their inception. Click here to read our overview guide of UTRUST.

UTRUST on CoinTelegraph: “Imagine PayPal, Juiced by Blockchain Steroids.”
Imagine PayPal, Juiced by Blockchain Steroids

UTRUST is fully committed to adhere to all rules and regulations by entities such as the Swiss Financial Market Supervisory Authority (FINMA) in order to assure a legally compliant, and future-proof platform. UTRUST will be one of the first KYC/AML compliant tokens.

Counting with almost 50,000 registered participants, the UTRUST ICO will start on the 2nd of November at 2PM UTC! Seventy percent (70%) of the UTK supply is reserved for the ICO at a fixed price of $0.065 for each token. The ICO will last for a maximum of 7 days or until the ICO token supply sells out. Any unsold tokens will be burned, permanently reducing the total supply. Bitcoin and Ethereum will be accepted on the ICO. Click here to see the ICO details for UTRUST

Dash: The Magical Combination of Anonymity and Lucrative Investment Opportunity – Being Libertarian

Cryptocurrency has taken the financial world by storm with its innovative features and huge profit potential. It has assuaged the thirst people had for a cash system that is perfect for the digital era. Ethereum and Bitcoin have been a mainstay in the crypto market, with Bitcoin creating quite a stir with its rising prices and the recent “hard-fork.” Meanwhile […]

Source: Dash: The Magical Combination of Anonymity and Lucrative Investment Opportunity – Being Libertarian

Cryptocurrency has taken the financial world by storm with its innovative features and huge profit potential. It has assuaged the thirst people had for a cash system that is perfect for the digital era. Ethereum and Bitcoin have been a mainstay in the crypto market, with Bitcoin creating quite a stir with its rising prices and the recent “hard-fork.”

Meanwhile Dash, the latest cryptocurrency on the block, is creating quite a stir of its own with its promise of anonymity and security.

Is the hype surrounding Dash true? Let us have a closer look at the cryptocurrency and its promising potential.

Origins of Dash

Kyle Hagan and Evan Duffield are behind the creation of Dash.

The private cryptocurrency uses the blockchain database to coordinate value updates among untrusted individuals.

Initially, when it was introduced in 2014, the coin was referred to as Xcoin which was later changed to Darkcoin and then to the present name, Dash (DASH is the trading symbol for the coin).

However Dash and DashCoin are different entities and should not be confused (DashCoin is traded as DSH and is a cryptonote with different mining methods and functions).

Although not yet fully embraced by retailers, Dash still lures people because of its high selling points. The focus on increased anonymity is a huge advantage that many cryptocurrency enthusiasts would welcome, as lack of anonymity has been a big contention point among users.

Evan Duffield is developing the new currency, actively tweaking it to meet user requirements. Dash aims to usurp the dominance held by other cryptocurrencies like Bitcoin and Ethereum.

With the value of Dash being the highest now and the fact that a decentralized community controls it, it looks like the currency will certainly hold its own in the highly segmented market.

What makes Dash unique?

With Bitcoin and other cryptocurrencies already having a popular following, it takes really innovative features for any new cryptocurrency to hold its own. Dash manages it effortlessly. It utilizes technology to the maximum resulting in highly innovative features. Here are few important feature highlights of Dash:

  • Privacy focused transactions;
  • Instant payments;
  • Controlled by user community;
  • Sustainable and self-funding design.

The cryptocurrency is open-source and private currency boasting of instant transactions. Your finances will be kept private while you perform the transactions and there is no waiting time just like when you make cash transactions.

Anonymity is provided by system features like multiple rounds of mixing, “Masternode” monitoring and the absence of a ledger system available to the public.

Transactions done cannot be traced back to the users as exclusive computers named “Masternodes” are used for collection and execution of multiple transactions simultaneously. Thus, the buyer and seller cannot be identified.

All the above measures make it really hard for any third party looking to calculate your assets or evaluate your transactions. Although no system is immune to attackers with technically replete resources, Dash ranks high in the privacy factor among cryptocurrencies in use now.

Energy efficient X11 algorithm

As opposed to algorithms such as SHA 256 and Scrypt, used by cryptocurrencies now, Dash uses X11; this algorithm is unique because of its potential to empower users with weak hardware to verify transactions and mine Dash coins.

At a time when expensive and custom hardware rules the roost among coin miners and users, Dash strives to be more simplistic.

For instance, X11 consumes less power and does not demand much from its hardware, making it the most energy efficient cryptocurrency substitute now.

Will users benefit from this new currency?

It is natural for users to look at Dash with suspicion and question its advantages over Bitcoin which has been here longer and more stable. Dash has several positive points in its favor that can very well make it a highly dominant currency in future.

Active community

The community is a democratic one that envisions a globally used and accepted monetary system. While some members are looking solely for the profit potential, others participate for ethical and sociopolitical reasons.

Powerful marketing

The high value, treasury system and expert marketing team present in-house make way for a powerful marketing campaign. Since developers and users are behind the promotion, there is less of a conflict that you see with SegWit and Bitcoin miners. More stability and focus are thus present enabling better value for the system.

Promising stats

The price of Dash has been rising steadily in the past few weeks – it is priced at $285 as of October 10, 2017. This is indeed a significant spike in the price of Dash, which stood at $46 a few months back. The low fees, inbuilt tumbler, fast confirmation and Masternodes governance are responsible for this  increase.

What are the exchanges that Dash is traded on?

At present more than 30 exchanges allow Dash trading. Dash wallets can be purchased from the Dash official website so users can easily store and use the currency. Keepkey and Trezor have included Dash compatibility to their wallets as well. Exchanges like CEX.IO have added the coin for trading.

CEX.IO, is a UK based exchange dealing with alt-coin and Bitcoin, known for its safety, user-friendly platform and legal compliance standards. It has started Dash trading from September 24.

CEX.IO users can trade the alt-coin with fiat currencies like USD, GBP and EUR and with Bitcoin at present.

Vitaliy Kedyk the executive director of the UK division has said: “Dash and CEX.IO have much in common. Both aim at a massive contribution to crypto adoption. So, it was only a matter of time before we joined forces and implemented Dash trading on our platform.”

While Dash does have its share of drawbacks like DDoS attack susceptibility, fewer transactions as compared to other cryptocurrencies and stiff competition from other cryptocurrencies, its advantages tip the scales in its favor.

With more and more reputed exchanges like CEX.IO starting to trade the alt-coin, it is definitely a high potential investment for users.

Despite being a speculative asset, which is still in the development stage, Dash has rallied well against other cryptocurrencies in recent months making it user-friendly and profitable investment.

* Mary Ann Callahan is an expert on Bitcoin-related topics, and has found herself as a journalist at Cex.io – cryptocurrency exchange. She’s working on articles related to blockchain security, Bitcoin purchase guides, or Bitcoin regulations in different countries.

Support Our Work:

Bytecoin Evolution October 2017 – YouTube

Some concepts for the revamp of BCN this October (2017). This one did not make the cut. We liked the Black and White style of the Old B but the new B we hope is better suited for a larger audience for adoption. Here is a video from Bytecoin.org -Some ByteCoin history.

Links to references: Minergate – https://minergate.com/

HitBTC – https://hitbtc.com/

Changely – https://www.changelly.com/

Changer – https://www.changer.com/

Alcurex – https://alcurex.com/#BCN-BTC

Cryptopia – https://www.cryptopia.co.nz/Exchange/

ChainRadar – http://chainradar.com/bcn/blocks

Cryptonator – https://www.cryptonator.com/rates/BCN…

Bytecoiner – http://bytecoiner.org/giveaway/

Faucet 1 – https://freebytecoin.cf/

Faucet 2 – http://bytecoin.cryptorials.io/

Faucet 3 – http://moneyinpjs.com/bytecoin/

Cryptoia – The exchange that rewards its users

Venezuelans use bitcoin ‘mining’ to escape inflation – Bitcoin Mining

Venezuelans use bitcoin ‘mining’ to escape inflation Alex VASQUEZ AFPOctober 22, 2017 While practiced worldwide, Bitcoin mining is part of a growing, underground effort in Venezuela to escape the worst effects of a crippling economic and political crisis and runaway inflation that the IMF says could reach 720 percent this year (AFP Photo/ROSLAN RAHMAN) Caracas […]




While practiced worldwide, Bitcoin mining is part of a growing, underground effort in Venezuela to escape the worst effects of a crippling economic and political crisis and runaway inflation that the IMF says could reach 720 percent this year (AFP Photo/ROSLAN RAHMAN)

Caracas (AFP) – Inside a locked room in an office building in Caracas, 20 humming computers use their data-crunching power to mine bitcoins, an increasingly popular tool in the fight against Venezuela’s hyperinflation.

In warehouses, offices and homes, miners are using modified computers to perform complex computations, essentially book-keeping for digital transactions worldwide, for which they earn a commission in bitcoins.

While practiced worldwide, Bitcoin mining is part of a growing, underground effort in Venezuela to escape the worst effects of a crippling economic and political crisis and runaway inflation that the IMF says could reach 720 percent this year.

Having no confidence in the bolivar and struggling to find dollars, many Venezuelans, who are neither computer geeks nor financial wizards, are relying on the bitcoin — currently valued around $6,050, or other virtual currencies.

Caracas office worker Veronica says her boss installed the 20 machines in early 2015.

“These are machines that bring in $800 a month (more than 26 million bolivars),” says Veronica, who refused to give her full name because of fears of arrest.

Bitcoin mining consultant Randy Brito estimates that about 100,000 Venezuelans are “mining,” although it is impossible to have an exact figure because many are protecting themselves by using servers in foreign countries.

Brito said the boom in these virtual transactions began in 2014, when Venezuela’s economic crisis intensified as a result of the collapse in the price of oil, which accounts for 96 percent of the country’s revenue.

“Whoever buys bitcoins with bolivars earns money by increasing the price of the bitcoin against the dollar, and escapes inflation,” Brito told AFP.

– Not without risk –

Venezuela is something of a mining hotspot because the electricity needed to run the power-hungry computers is so heavily subsidized as to be almost free.

Thus “it is very profitable to ‘produce’ bitcoins,” said economist Asdrubal Oliveros.

Tempted by the money made by her boss, Veronica has taken the plunge at home, buying a machine for $2,280 online from China.

“A friend took another and a boy I know bought 20,” said Veronica. “People are buying machines like crazy.”

They set the machines up in another woman’s house, as many miners do to spread the power consumption and avoid attracting the attention of the state intelligence service Sebin, whose agents regularly raid buildings when they notice a suspicious surge.

“If they find machines, they arrest the owners or they try to extort money,” said Veronica. “In electricity, we spend barely 15,000 bolivars a month (less than 50 cents at the black market rate).”

Lawyer Jesus Ollarves said that while bitcoin mining is legal in Venezuela, which does not have cryptocurrency laws, “those who practice it are often liable to arrest by the police for energy theft.”

According to the LocalBitcoins portal, transactions in bitcoins amounted to $1.1 million in Venezuela in the last week of September.

Commissions, paid in bitcoin, help buy food and medicine that are currently in acutely short supply because of the crisis, said Eugenia Alcala, founder of Dash Caracas, which provides courses in cryptocurrency mining.

Veronica said her machine is producing 20 to 25 Litecoins — another virtual currency — per month.

“Each Litecoin is worth $46, that’s $920 a month,” said Veronica — a fortune in a country where the minimum monthly salary is 135,543 bolivars ($40), supplemented by a voucher of 189,000 bolivars ($56).


#Bitcoin Price to Hit $50,000 & Catch Apple’s $800 Billion Market Cap by 2022, Says Previously Accurate Analyst 

#Bitcoin Price to Hit $50,000 & Catch Apple’s $800 Billion Market Cap by 2022, Says Previously Accurate Analyst

What do you think? 50k….?

Proof of Work Mining Working for You

In-Browser Cryptocurrency Mining is Exploding Across the Web

Did you know we can set up for you your own poll / voting page that your can use to have people vote by micro mining crypto currency for you and or your cause?

A great and easy way of fund raising that asks very little of the participants.

All they have to do is vote or click as many times as possible 🙂

Clicks can be tracked and the link with the highest amount of  coins mined wins. A freat way to get people a way to give and donate with out spending their money.

Here you give it a try

You will be brought back here and will have mined 1024 bytes of blockchain.

With a large number of supporters in homes and offices accross the world you can have an army of click miners (in browser mining)  making you or your organization or cause money.

For those who want to really make money will want to contatc us and have us set up for them there own mining page where they can direct people to visit and mine for you.

Here is an example of a In Browser miner. Simply click to start it and let it do it’s thing. When you are at work / school leave it running on your home PC’s, at work browse while you work at lunch times, coffee breaks and overnight. Get your whole family / business / community to mine together and make money every single day.


Alert on Bitcoin Cash Ticker Change – HitBTC Official Blog / HitBTC

Alert on Bitcoin Cash Ticker Change

Dear Traders!


HitBTC does its best to timely notify you regarding the upcoming changes on our platform. Today we would like to alert you that we have made the decision to change the ticker symbol of Bitcoin Cash from BCC to BCH to comply with Coinmarketcap standard and leave room for the new currency joining HitBTC – BitConnect, which had ticker BCC since its conception.


A ticker symbol is an abbreviation that identifies a tradable stock on the stock market. On HitBTC every market is referred to with a certain unique ticker. Since Bitcoin Cash has forked, we have been referring to it as BCC, as it was the short name most commonly used by the project’s team in their public communications.


Bitcoin Cash token was created on August, 1, 2017 as a new chain was forked from Bitcoin blockchain. By that time BitConnect had already existed for about 9 months, as its ICO was launched in November, 2016 with the abbreviation BCC, short for BitConnect Coin. As the project progressed, the ticker solidified and the coin was added to Coinmarketcap with this very abbreviation.


HitBTC is going to change BCC ticker to BCH on October, 25th and open markets for BitConnect on October, 31st. We respect the priority of their ticker’s emergence and believe it would be just to grant BitConnect token the right to be listed as BCC. It goes without saying that we do not infringe the integrity of Bitcoin Cash’s image, as the project’s official FAQ page states that commonly accepted abbreviations for it include BCC, BCH or XBC depending on the service where it’s listed.


To sum up:

  • Bitcoin Cash will be listed as BCH
  • BitConnect will be listed as BCC

We apologize for the possible confusion the change may bring at first, although we regard it as a step towards stronger consistency on HitBTC and stay certain that ultimately it would be beneficial for the communities of both coins as well as for our traders.



HitBTC team

Source: Alert on Bitcoin Cash Ticker Change – HitBTC Official Blog / HitBTC