Cryptocurrency & Mining - Page 32

Inno3D has stepped up into the cryptocurrency mining scene in a big way with the introduction of their new GPU Mining System P104-100 which packs up to 9 graphics cards based on the P104-100 GPU from NVIDIA.

Inside, the new Inno3D GPU Mining System packs a CPU controller card that includes an Intel Celeron 3865U mobile processor, 4GB DDR4-2133 SO-DIMM RAM, and a 64GB M.2 SSD.

As for the GPUs, Inno3D is using their P104-100 Crypto-Mining Accelerator which packs an "optimized GPU and circuit board for mining purposes" with Inno3D maximizing the GPU and memory clocks in order to provide maximum cryptocurrency mining performance.

North Korea might have been the first country in the world to actually land a man on the Sun (don't worry, they went at night time when it's dark), and now they're expert hackers who have been working on a spearphishing campaign that targets cryptocurrency industry workers.

The hackers are targeting Bitcoin, where they trick workers into opening their systems through a Word document that needs to be edited in order to view the document. If the crypto expert falls for this, they open their system to rogue macro that silently loads a PC-hijacking trojan while the crypto worker is viewing the document.

North Korean hackers have been playing these games for over a month now, but Secureworks' analyst have indicated that this has been happening since as early as 2016. Secureworks adds that North Korea's hacking attempts are still on-going, and that they will have more information as they continue to investigate.

Bitcoin has soared to the new heights of $19,000 but that could be the start of the new wave of price increases, with independent research analyst Ronnie Moas saying Bitcoin could reach $400,000 in the near future.

Moas is also the founder of Standpoint Research which is a self-described "one-man operation" based in Miami, with Moas writing: "Bitcoin is already up 500 percent since I recommended it in the beginning of July, and I'm looking for another 500 percent move from here".

Funnily enough, Moas had a price target of $5000 for Bitcoin in 2018 when BTC was priced at just $2600. We have the new all-time high of $19,694 right now, but Moas is optimistic for the future where he's said: "The end-game on bitcoin is that it will hit $300,000 to $400,000 in my opinion, and it will be the most valuable currency in the world".

With the price of Bitcoin reaching the peaks of $19,086 earlier today, it should come as no surprise the flood oof cryptocurrency-related news would reach the point of using the human body to mine crypto.

We've reached a point where a Dutch startup believes that human beings should be like they were in The Matrix, simply batteries to run the system. The Institute of Obsolescence (IoHO) is based in The Hague, where it works on seeing how people can be capitalized at a biological level, with data production labor through art and research projects.

IoHO has built a body suit that harvests the excess heat generated by your body, and mines cryptocurrency with it. This means you could effectively be laying down for hours per day, or even sleeping and your body is generating money. I didn't think I'd ever type that, but here we are - December 2017 and we're mining cryptocurrency with our bodies.

Bitcoin is on an unstoppable journey towards $20,000 right now after staying in the $16-17K mark for the last week, BTC breached $18,000 in the last 48 hours and has flown past $19,000 in the meantime.

The talk of Bitcoin reaching $20,000 by the end of the year, and even at the earliest; Christmas, has been real. We're getting so close to it right now, with Bitcoin's price doubling over the last three weeks. If you invested $1000 in January, you would have made a 20x increase in your initial investment... which is simply insane. Apple stock, where you at?

Hell, I wrote this story and left it for a few hours as I was busy and then as I went to write this article I double checked and the price had peaked at $19,783 while reaching $19,630 at the time of writing. Wow.

With the price of Bitcoin reaching multiple new all-time highs in the last few weeks, the tease of BTC reaching $1 million sounds like pure fantasy. But considering we've seen McAfee creator and founder John McAfee himself say he'd 'eat his own d*ck' if Bitcoin wasn't $1 million by 2020.

Now there's someone else with considerable weight behind them in the industry saying the same thing, with ex-Facebook ex and founder of Social Capital and co-owner of the Golden State Warriors, Chamath Palihapitiya talking about the value and potential growth of Bitcoin in an interview with CNBC on Tuesday.

Palihapitiya invested into Bitcoin in 2012, saying that he saw the price of the cryptocurrency rising massively in the next 20 years as more and more people adopt BTC. Palihapitiya said that Bitcoin will be considered a store of value comparable to gold.

Bitcoin has reached new peaks of $17,000 while Ethereum is enjoying the lofty heights of over $600 but it is the surprise cryptocurrency Litecoin that absolutely exploded over the last 48 hours.

The price of Litecoin has gone through the roof from $100 earlier this month to $317 at the time of writing, boosting its market cap to a massive $16 billion. Right now it seems the price of LTC isn't stopping, but BTC is also on the rise as is ETH. It seems healthy to have any of these in your crypto wallet.

What do you hold right now?

It's not just Bitcoin that is exploding in price, as most of the major cryptocurrencies are seeing massive journeys to the moon right now, with Ethereum reaching a new all-time high.

Overnight, the price of Ethereum peaked at $637 after starting the day at $504, a level it has been at for months now. At the time of writing, ETH had dropped slightly to $603, giving it a market cap of $57.4 billion.

Some of the talk about Ethereum on various sites and subreddits tease that it could be priced as high as $1800 by this time next year, which would be a 300% increase from its $603 price now. If you aren't already invested somehow into cryptocurrency, we are still at the ground floor.

One of our biggest stories of the month was the recent hack of NiceHash, where over $60 million in Bitcoin was stolen in a huge cryptocurrency heist (just without the masks and guns).

NiceHash has officially responded to WikiTribune, which broke the story last week. NiceHash CEO Marko Kobal had a lot to say, but the main takeaway from this is that NiceHash will be refunding each and every customer of their stolen BTC. Kobal said: "we are working on a solution to ensure all users are reimbursed. That is clearly a key concern for our users, and we understand this, we are not running away from our responsibilities. As soon as we have a plan in place we will update all users on our intended solution, and we're sorry for any inconvenience which has been caused".

WikiTribune also asked "What's the likelihood of the company covering more than $60m in losses? Are you able to compensate users?" to which Kobal replied: "We fully intend to make this right. It's a matter of deep concern to us and we're working hard to rectify the matter in the coming days. We're working on a solution to ensure that all users are reimbursed. These things are delicate matters, and take time, so we would ask our community to be patient while we get this fixed and fully investigated. As soon as we have a full plan in place we will communicate it to our users and all those affected".

NVIDIA announced its monstrous new $2999 graphics card a few days ago, with the new TITAN V being the first consumer-grade Volta-based graphics card released... but I've been itching to know how it mines cryptocurrency.

Thanks to BitsBeTripping, we now know just how good the new TITAN V is at mining cryptocurrency and its truly a beast. They put the new TITAN V through its paces, with a huge 77MH/s mining Ethereum when overclocked and just 213W of power consumed. Considering AMD's newish Radeon RX Vega 64 can be pushed up to around 43MH/s and with much more power consumption, the TITAN V is a freaking compute beast.

You would never, ever buy this card for cryptocurrency mining... but it doesn't hurt to see how much better the TITAN V is against its competitors. It's a nice benchmark to see, and 77MH/s is absolutely incredible for a single card. You'd need two Radeon RX Vega 64 graphics cards to get close to it (they do around 40MH/s with some overclocking and 43-44MH/s absolutely maxed out).

When I was writing my article about Bitcoin hitting $13,000 yesterday I thought we might see a new peak of $14,000 if it went on a really good run. Well, I was wrong.

The massive $60 million+ in BTC being swiped from NiceHash in its rear view mirror, Bitcoin's price continued its meteroic rise past the $13,000 barrier and right into $16,600 overnight. A rise of 30% in 24 hours is absolutely astonishing, with anyone holding BTC right now smiling from ear-to-ear.

At this rate $20K isn't impossible before the end of the year, and John McAfee might need to eat his own d*ck since BTC could hit $1 million sooner rather than later.

It doesn't seem to matter that Bitcoin is priced at nearly $13,000 and it has more hype and interest in cryptocurrency than any previous point in human history, but Valve has just stopped accepting Bitcoin in Steam. Yay.

Valve said in a post on Steam: "In the past few months we've seen an increase in the volatility in the value of Bitcoin and a significant increase in the fees to process transactions on the Bitcoin network".

The company continued: "For example, transaction fees that are charged to the customer by the Bitcoin network have skyrocketed this year, topping out at close to $20 a transaction last week (compared to roughly $0.20 when we initially enabled Bitcoin). Unfortunately, Valve has no control over the amount of the fee. These fees result in unreasonably high costs for purchasing games when paying with Bitcoin. The high transaction fees cause even greater problems when the value of Bitcoin itself drops dramatically".

Bitcoin is mooning right now with a new peak price of $12,966 at the time of writing and will most likely hit $13,000 before I finish this article.

Bitcoin started 2017 off price at $1000 but this meteoric rise in price is unprecedented, a massive 1300% increase in price in just 12 months. I might as well write this post in real-time as the price of BTC has increased to $12,975 and then just now to $12,993. I'll keep writing until it reaches $13,000.

I guess this way you can see that I'm writing this article in real-time while the price of BTC continues to increase. It has dropped slightly to $12,975 but it will only be a few minutes until it hits $13K. The next question I have is, when will BTC reach $15K? It seems like $20K before the New Year isn't a fantasy.

Update: NiceHash has officially announced they were indeed hacked, with all of the BTC in their wallet gone. There's over $50 million in that slush fund of Bitcoin, with NiceHash working with authorities. Lots of people are mad and rightfully so.

I might be enjoying the beautiful Maui for Qualcomm and their Snapdragon Tech Summit in Hawaii, but I woke to news from my good friend and fellow miner Keith May from WCCFTech messaging me this morning that NiceHash had possibly been hacked.

With all of the hoopla surrounding the record breaking price of Bitcoin (John McAfee has now said he'd 'eat his own d*ick' if BTC didn't hit $1 million by 2020), a federal judge in San Francisco ruled on Wednesday that Coinbase will be forced to provide the IRS with information on its users who are traded more than $20,000 in cryptocurrency in a year, between 2013-2015.

The IRS noticed a bunch of tax returns claiming gains from cryptocurrency that didn't line up with the emerging popularity of digital currencies like Bitcoin as an investment vehicle, so the IRS asked Coinbase to provide information on its users. Coinbase isn't happy, pushing the court into a compromise that the company has called a "partial victory".

The court documents read: "Coinbase itself admits that the Narrowed Summons requests information regarding 8.9 million Coinbase transactions and 14,355 Coinbase account holders. That only 800 to 900 taxpayers reported gains related to bitcoin in each of the relevant years and that more than 14,000 Coinbase users have either bought, sold, sent or received at least $20,000 worth of bitcoin in a given year suggests that many Coinbase users may not be reporting their bitcoin gains".

Now that Bitcoin has reached its all-time high of over $10,000 we're now seeing plenty of people coming out making their own predictions of where Bitcoin will be in 2, 3, or 5 years time.

John McAfee, the anti-virus legend, has come out saying that he predicts Bitcoin will be priced at $1 million before the end of 2020, and if he's wrong he has said on Twitter to his 118K followers that he will "still eat my d*ick". Now I'm wanting to agree with McAfee that Bitcoin will indeed reach $1 million by 2020, but I wouldn't bet eating my own d*ck, but hey that's just me.

Over the past 24 hours, Bitcoin (BTC) has been on a parabolic run all the way from $10,000 up to almost $11,500. Many including myself feared a sharp correction would be due at any moment, as the kind of growth we saw was not sustainable, not even in the crazy world of crypto.

BTC hit a high of $11, 441 on Bitfinex before tumbling quickly all the way down to $9,000 in just a few minutes. Many went to Twitter to voice opinion that the reason for the drop was a DDOS attacked on many of the largest exchanges around the world. While a mass DDOS attacked has not been confirmed yet, it seems likely it was the cause of the sudden crash.

Approximately $53 billion was wiped off the total cryptocurrency market cap in under an hour, a figure which calculates the value of Bitcoin and other alternative coins combined. At the time of publishing, Bitcoin was trading close to $9600, but appears to be facing resistance heading back to $10,000 and beyond.

Bitcoin has not just reached its historic milestone of $10,000 but passed it and some, reaching a new all-time high of $10,831 before falling back down slightly to $10,371 at the time of writing.

With BTC priced at $10,300+ we have a market cap of $173 billion, which is simply insane. There are only 16.7 million Bitcoins in the world, and with the price not hovering and not going under $10,000 the question on my lips is: will BTC correct and drop to sub $7500 soon? The correction is coming, the only question is when. If the correction isn't coming, how long can BTC sustain this mind-blowing growth?

Bitcoin has done it, it has reached a new all-time high of $10,000. The leading cryptocurrency has a market cap of $160 billion, making it bigger than some of the biggest companies and even countries in the world.

Bitcoin started out the year at $1000 before reaching $5000 half way through the year, but it met some resistance once it reached the $7000-ish range and then it has really just been jumping up in leaps and bounds. There are plenty blown away at it hitting $10K, while others call for its doom. No matter what, even if it does drop to $5000 overnight, BTC has reached this new milestone and you can't take that back.

Blockchain technology and cryptocurrency are here to stay and they're years early, which is why there's this huge interest and hype around them. We might not see Bitcoin accepted everywhere yet, but that's what millions of people said in the cash world about credit. The same people said smartphones and the internet wouldn't change the world, and look at us now. We have 'invisible' money on our tap-and-go credit cards and NFC-enabled payments with smartphones.

Can you believe that we're edging closer to $10,000 per Bitcoin right after Thanksgiving, which will end 2017 in a spectacular fashion. It was only yesterday that I was writing that Bitcoin hit a record price of $9483 and here we are again, with a new record price of BTC.

Bitcoin started off the year priced at under $1000 and reached a new peak of $9739 today, just $261 short of the $10,000 milestone. Back on November 12 the price of Bitcoin dropped down to $5857 with many thinking it was on its way back down to sub-$5000 as it had just reached its then-record peak of $7458 on November 8.

Just weeks later, and we're now edging close to $10,000. Amazing. Just don't be this guy, who threw away a HDD with over $71 million of Bitcoin away.