News Posts matching "Bitcoin Cash"

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Confessions of a Crypto Miner: Green(er) Mining

Welcome back to "Confessions of a Crypto Miner," my column about a crypto miner from 2013 trying to get caught up with the latest standards. I'm presently mining and reporting to you from a dual-GTX 1080 based rig mining zCash. Today, I'm going to talk about saving energy and reducing a miner's impact on the environment. How can you do that, you ask? Simple: Consolidation.

Mining inherently consumes a lot of energy, but a lot of things we do as tech geeks are actually not all that efficient. Case in point, my NAS I've had for years. Old Lenovo server-something or another, modded pretty hardcore, but still energy-drinking to the core. It's based around a Core 2 Quad and uses around 400W of power on its own when not doing much of anything more than being an NAS. It features big RAID arrays and big blower fans, none of which I really need in this day and age and all of which consume power. I've been thinking since I got my Ryzen quad core mining rig: What's to stop me from mining and doing my NAS stuff on the same rig, thus saving power? As it so happens, not much. My miner has the same memory size as the old Lenovo DDR2 solution and a far more energy efficient, likely faster CPU. So I can fold that 400 W server into my 550 W of mining, far reducing my footprint in a green sense. Let's get to it.

Only Somewhat Classy: Coinbase Hit With Multiple Class Action Lawsuits

Coinbase, which is mostly regarded as one of the most transparent, well regarded cryptocurrency exchanges in the cryptocurrency world, is now being hit with class action lawsuits on themes it would really not like to be associated with. Readers should think on which one of these is worse: insider trading, or crypto theft. For a company that's apparently trying its hardest to become a bastion of transparent crypto trading, going so far as to share data on 13,000 customers to the IRS, these class action lawsuits, if proven, will do irreversible damages to the company's standing.

The insider trading class action lawsuit revolves around the introduction of BCH (Bitcoin Cash) to its staple of tradeable cryptocurrencies. Now, here's the thing: it's nigh impossible for a company not to do, or not to be accused of, to be more precise, of insider trading on this thing. It's almost guaranteed that the company would have invested on Bitcoin Cash in the early stages of its fork and spin-off from Bitcoin. And the company controls at which times they'll enable trading of the cryptocurrency on their platform - an announcement and move which would certainly increase awareness and trade volume on that cryptocurrency, both before and after it's been actually integrated into the exchange. This class action lawsuit is being headed by Jeffrey Berk, who's representing all customers that placed buy, sell or trade orders for BCH between December 19 and December 21, 2017.

Coinbase Commerce is a New Cryptocurrency Payment Program for Vendors

Coinbase, one of the world's largest - and more transparent, in legal terms - cryptocurrency exchanges, has announced the start of a new cryptocurrency payment program. Coinbase Commerce is a new service that enables merchants to accept multiple cryptocurrencies (Bitcoin, Bitcoin Cash, Ethereum and Litecoin) directly into a user-controlled wallet as payment for services rendered or products acquired. Coinbase Commerce can be directly integrated into a merchant's checkout flow or added as a payment option on an e-commerce platform with just an email address and a phone.

This is another step to cryptocurrency world domination, and one of the most important steps towards widespread adoption of these as actual stores of value. The difficulty of translating cryptocurrency into real world value and products - which has seen better days, but has since seen key players withdraw from accepting these as payments - is one of the remaining walls towards widespread, mainstream adoption, and could provide a window for crypto in general to abandon its actual relevance as mere speculative investment. Some platforms already exist - TenX and BitPay come to mind, for instance. however, Coinbase as an exchange has some of the more solid footings in the cryptocurrency industry - and financial markets as well - so this is definitely a high-impact move that could help cement a future based in cryptocurrency trades.
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