Bitcoin Mining


The term Bitcoin mining is very popular but only a few people understand the true meaning of the process. Bitcoin Mining refers to a process of introducing Bitcoins into the Bitcoin is an energy-extensive and cost acquiring process.

What is Bitcoin Mining?

It is similar to printing new currencies and introducing them in the market but not as simple. This process is governed by the rules of mathematics as the supply of Bitcoins is fixed. This process of producing a Bitcoin is call Proof of work and the complete process is called Bitcoin mining.

In Bitcoin mining, the miners have to find a valid Bitcoin block successfully through which the user gets rewarded in the form of Bitcoin. This process of mining is also called as the lottery as the miners win Bitcoins based on guessing which is constrained and highly educated guesses requiring a lot of cost and energy.

During this process, the miner has to make numerable attempts in order to guess the right code and if it is not correct, a lot of energy and cost are wasted from the miner’s pocket.

Proof of Work

Despite all the hardships, miners in the world guess the right code and add that block in the already built blockchain and receive the reward in the form of Bitcoin.

Thus, a lot of energy must have been wasted by the miner in order to make the correct guess. This process is known as the Proof of Work and for burning their energy and making the right guess, miners get the remuneration in the form of a Bitcoin which they can sell or hold.

Future of Bitcoin Mining

Bitcoin mining has evolved over the years. Initially, anyone should set up a complete node and start mining on his or her CPU to find a valid block.

However, today with the setup of Bitcoin exchanges, the process has become more difficult and costly as it requires a lot of special hardware to mine Bitcoins. With the addition of ASIC miners and GPUs, difficulty levels have risen to such high levels that it is not even profitable to mine Bitcoins. So, now mining is carried out in big Bitcoin mining farms where there is an availability of special hardware, electricity and cooling devices.


What to Expect from Crypto Investments in a Turbulent Market

The current market conditions are far from ideal for crypto investors, especially those who are new to the industry. That said, as many of the more experienced investors are aware, the markets will always rebound given time.
That may be of scant consolation to those who have invested their hard earned cash into the market here and now as it stands, so, what should you do to give yourself the best possible chance of turning a profit? Or at least what can you expect from the market in the near future?

Make Sure Your Infrastructure is great!

Now is the ideal time to pause and take stock of your entire crypto set up. Make sure that you have everything you need in terms of storage, both online and hard storage for your crypto assets just to be safe. Also, make sure your computer and/or laptop or smart device has had a clean bill of health. You certainly don’t want any nasty viruses lingering around if you will be trading in any significant volume. You private wallet keys and backup phrases are vital for account restoration, ensure they are kept safely.

Study Your Portfolio Further

If you truly believe in your trading selections, a down period in the market should not hugely impact your mindset. Take the opportunity to study more about the currencies you are holding and perhaps even identify new projects to bank on for the future. It is an opportune time to seek out the optimistic projects who still believe. Finally, make sure you are using one of the best portfolio trackers on the market. You just never know when things may turn around.

Final Thoughts

Ultimately, even though the market is in a slightly volatile position currently, there are still many things you can be doing to improve your holdings and ensure yourself the best possible chances of success when things turn back around.


Which Crypto Should you be Buying Right Now?

The current crypto market is an intimidating place to be. That is true for all investors, not least the new entrants to the market over recent months. There are also more potential investors who may be afraid to invest in the current climate. This leaves us all pondering the question of which currencies we should really be buying (if any) at the present moment. Let’s run through some options to keep your portfolio afloat.

Bitcoin & the Big Guns

Compared with the back end of 2017, Bitcoin is seeing some rough charts at the moment. This may dissuade many from investing or lead some to proclaim an early death for the founding giant. This all seems a little hasty however. If we just take a look at the longer term charts we will see that Bitcoin is still in a largely positive position from just 12-18 months ago. The future certainly has the capacity to bring more upward spikes.

Alt-Coin Fever

With the hit on Bitcoin comes a painful hit on altcoins too. This has hit and hurt many who would’ve invested at the peak of the market. As you will hear on most community related media tough, the key is to hold. This still remains true. It is likely that even if you didn’t start out with designs as a longer term hodl-er, you have now become one. This is no bad thing for the future of the sector. If you have the disposable income to spare and you believe in a project, take this current position to buy in at a discount.

ICO Slowdown

There has also been a noticeable reduction in the number of ICOs being released over the last months, with many holding back for release to more positive market conditions. That being said, there are a number of excellent projects upcoming in the months ahead. These are often accompanied by generous airdrops and revised financials and pricing to accommodate the market status.

The current situation exemplifies what many analysts will always advise. Do not invest any amounts you cannot afford to lose. Simply put, if you have the finances to buy in and hold for a while, the current market can represent an excellent opportunity regardless of which currencies you choose.


Ways in Which Cryptocurrency is changing the Business Environment

There is little doubt about it, the evolution of blockchain technology and emergence of cryptocurrency is having a significant impact on the traditional business landscape. Every industry is undergoing a certain amount of change as we move forward in the blockchain era. Despite a recent slide in the market, it is widely expected that the cryptocurrency market value will exceed $1 Trillion in 2018.

This continued growth is thanks in part to the evolution of the entire blockchain sector which backs the cryptocurrency market. Whilst many major companies are already engaging with the technology to continue their own growth in tandem, many smaller companies are just beginning to consider the impact of the blockchain on their industries. Not only the impact but also the opportunity. How then, is the evolution of blockchain impacting the traditional business environment?

Increasing Transparency

One of the foundations of the blockchain is greatly enhanced security and transparency. This is at the core of almost every new project emerging in the sector. It comes as an integral part of employing blockchain technology.

This is an aspect which users greatly favor. There is a general distrust in traditional business models which are heavily centralized and not always transparent in their dealings. The nature of blockchain technology removes this. Thanks to this paradigm shift, it is also challenging traditional business models to be more open and transparent. This shift can only be of benefit to all users.

Removing Unnecessary Parties

A huge issue which we see addressed in many blockchain based projects is the removal of agents and unnecessary third parties. This serves to greatly reduce costs on both sides of almost every industry. This reduced cost of transacting within blockchain technology has knock-on results in more traditional sectors. Customers now come to expect a more competitively prices and expediently delivered service. Service agents such as will be challenged to cut costs or enter the blockchain for themselves in order to remain attractive to potential customers.

Enabling Direct Communications

The liberation of communications between customers and businesses is one of the great successes brought about by the blockchain revolution. Entry barriers are removed and communications are direct and efficient. Ultimately, this lead customers in traditional industries to demand a higher level of communication. Again, this can only be a positive move for traditional sectors and those positioned within them.


When is the Right Time to Get into Crypto?

The cryptocurrency market was positively buzzing with enthusiasm by the end of 2017. Everybody was diving in and throwing caution to the wind. Now though, the market is in a quiet period and many of those who entered strongly at that time are unceremoniously absent.

This absence doesn’t mean to say they were wrong to get involved in the first place but many perhaps dived in too strongly and risked a lot early on. We are all guilty from time to time of thinking the upward trend will never reverse. This is sadly not true in any world market from stock to property and crypto is not immune.

So, if you are still eager to get into cryptocurrency and blockchain technology as a whole, when is the correct moment?

Don’t be disheartened by a Slump

Many may be feeling negative when the market is in a down period. This is nothing new. You cannot however let that get you down or discourage you from investing. To shine a positive reflection on a bear market, it can easily be seen as the best time to invest when prices are low. This is almost certainly better than when prices are soaring and you are purchasing at an all-time high.

Follow your Passion

Some things are more important than price. If you trust in the core principles of a project for example, you are already well ahead of many speculative investors who are just searching for the next price hike. If you are willing to HODL in the long term based on your core values and belief in a platform or project then you should not be influenced too heavily by the current market position. It is in fact true that many impassioned followers of the sector view bear markets as a time to purchase their favorite tokens “on sale”.

When Means and Desire are matching

Investing within your means in the crypto sector is absolutely key. As mentioned, it can certainly be volatile and you do not want to be investing more than you are willing to walk away from at any point. This makes it vital not to rush into any investments. There exists a natural fear of missing out, it is a fundamental trait of humans. You cannot let this feeling overcome you however. If your financial position does not make an investment viable, remain resolute until it does. When you are in a position to invest, however far down the line that may be, there will always be certain opportunities which present.


Nasdaq Looking to Become a Cryptocurrency Exchange


Recently, with their market cap sitting at nearly $9 trillion USD, Nasdaq has set their hearts on becoming the next big cryptocurrency exchange and making it a more regulated market. This was recently announced by the company’s CEO who mentioned that the project who be in collaboration with Gemini Cryptographic Money Exchange, a cryptocurrency exchange founded by two prominent figures in the industry, the Winklevoss brothers.


Regulations Still Represent a Major Obstacle

For most experts, there is no doubt that cryptocurrency is here for good and it’s only a matter of time for the industry to become more regulated. However, as it stands, the lack of regulation in the industry still constitutes a major obstacle for major investors and Nasdaq’s CEO, Adena Friedman, believe that this issue must first be remedied before they can create their own exchange.

While Friedman is optimistic about the future of cryptocurrency, she is much more hesitant when it comes to their fundraising process known as an ICO (Initial Coin Offering). For her, ICOs are nothing but titles and she believes that the SEC’s (Securities and Exchange Commission) decision to deem them as securities was well founded.


In Support of Existing Exchanges

Elsewhere, the company has also partnered with Reality Shares, a San-Diego based company that is offering blockchain solutions to the real estate market. The partnership was formed with the goal of launching two separate funds based on blockchain technology.

According to the CEO of Reality Shares, Eric Ervin, if he were to class Nasdaq’s interest in cryptocurrency on a scale from 1 to 10, he would place them as a 6. Moreover, he also added that Adena Friedman seems like she could be a major benefit to the SEC when it comes to dealing with and regulating ICOs. This level of interest clearly shows that Nasdaq supports the growth of the industry and could soon be a key player as a cryptocurrency exchange.


The SEC Monitors ICOs

Earlier at the beginning of this year, the United State’s SEC launched a formal survey to monitor the evolution of the cryptocurrency market. This unregulated market was brought to their attention after Bitcoin’s prices soared to nearly $20,000 last. Furthermore, the SEC has been closely monitoring all ICOs and has already cracked down on several fraudulent cases so far this year.

In other news, the SEC also announced back in March 2018, that they were to begin regulating the industry and enforcing security laws on cryptographic exchanges and digital wallets that operate within the country. Furthermore, Jay Clayton, Chairman of the SEC, has recently announced that the organization already devotes a massive part of their resources to monitoring these unregulated markets, and will continue to do so.


Jobs in the Cryptocurrency Market


In recent years, cryptocurrency and blockchain technology have been rather hot topics. So much so, that now, dedicated employment services are beginning to pop up for those looking for jobs in the industry.

Recently, CoinDesk, a leading name in the cryptocurrency world, launched their first online “Career Center”, which is meant for job listings related to cryptocurrency and blockchain technology. The company’s marketing director, Jacob Donnelly, said “It’s no secret. There is a high demand for skills and finding talent in the industry can be quite difficult.”

In addition to launching their online career section, CoinDesk is also going to be hosting a job fair during its annual Consensus conference in New York, which is schedule for the middle of April 2018.


Trending to the Top

In a recent report, the online freelancing database, Upwork, said that job listings requiring skills in related to blockchain technology have soared by nearly 6,000% in the first quarter of 2018.

“It’s like a gold rush mentality.”, Andy Challenger, an expert in the industry, recently said, “Lately, there’s been a massive increase in the activity around cryptocurrency due to the volatile, yet very exciting nature of Bitcoin.”

At the end of last year, Bitcoin dominated the news when its price skyrocketed nearly 2,000% in less than 12 months, before peaking at almost $20,000 per token. Bitcoin was the very first cryptocurrency, which was designed to eliminate the need for a 3rd party intermediary, such as a bank, to be involved in a financial transaction.

Today, companies everywhere around the world are beginning to experiment with the idea of blockchain technology and are looking for ways that they can apply it to their operations.

As of last year, Accenture, Microsoft and IBM made up nearly half of the $700 million dollars of revenue generated by the entire cryptocurrency industry. Furthermore, many analysts firmly believe that this industry has only begun booming and could easily grow into generated tens of billions of dollars per year.

According to one expert, “As this technology continues to mature, I believe that the need for people with blockchain experience will continue to grow as well.” Many other analysts also believe that by taking a risk and jumping into the industry while it is still young, could easily set an employee up for key positions in major corporations in the future.


The Early Bird Gets the Worm

Now, by joining a cryptocurrency startup and gaining experience in the industry, you could be gaining valuable experience that could potentially serve you well down the road. However, the industry is still relatively small, with a total market cap no bigger than the average S&P 500 company, which can make it a rather risky decision.

Of course, there are time when companies have extremely good ideas, however, they don’t manage to find funding for their project and end having to shut their doors. However, we are seeing an increasing number of individual leavings their jobs in government or finance to work with blockchain technology. And, while it may be a volatile industry, the benefits of getting into the industry early can be outweighed by the potential success that these types of jobs represent.