News Posts matching "Cryptocurrency"

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The Only Thing You Get with Mining Ethereum Now is Room Heating

Cryptocurrency prices continue their downward slide making them no longer viable to mine on GPUs. The value of Ethereum has dropped to USD 256, down from its historic high of $1,250 this January. Bitcoin fell to below $6,000 Wednesday, way down from its late-2017 high of $19,000. A 79 percent devaluation isn't the worst of Ethereum's problems. The currency is facing stiff inflation from conversions to other cryptocurrencies or the Dollar. At its peak, ETH held 32 percent of all cryptocurrency market cap, beaten only by BTC at 39 percent. Now ETH only makes 14 percent.

Kaspersky Labs Warns Against Cryptocurrency Social Engineering Schemes

The cryptocurrency phenomenon and the growth of a keen audience of cryptocurrency owners was never going to go unnoticed by cyber-criminals. To achieve their nefarious goals they typically use classical phishing techniques, however these often go beyond the 'ordinary' scenarios we have become familiar with. By drawing inspiration from ICO (initial coin offering) investments and the free distribution of crypto coins, cyber criminals have been able to profit from both avid cryptocurrency owners and rookies alike.

Some of the most popular targets are ICO investors, who seek to invest their money in start-ups in the hope of gaining a profit in the future. For this group of people, cyber-criminals create fake web pages that simulate the sites of official ICO projects, or try to gain access to their contacts so they can send a phishing email with the number of an e-wallet for investors to send their cryptocurrency to. The most successful attacks use well-known ICO projects. For example, by exploiting the Switcheo ICO using a proposal for the free distribution of coins, criminals stole more than $25,000 worth of cryptocurrency after spreading the link through a fake Twitter account.

Twitter Reportedly Looking Into Banning Cryptocurrency-Related Ads as Well

After Google has actually announced a change to their financial services-related ad policies that will ban all cryptocurrency-related ads that run through its advertising platform, reports now place Twitter as the next major service to follow suit. According to Sky News, the banning will affect the majority of ads relating to cryptocurrency products, services, and advice, cutting it diagonally and indiscriminately if services are actually legit or fakes. The publication says the decision comes "amid looming regulatory intervention in the sector."

Sky's sources say this ban will enter into effect within the next two weeks. If so, this is now the third major servie (after Facebook and Google) to ban all crypto-related content form its advertisements. That regulatory intervention is looming on the sector is putting it mildly; and it's high time that happened. The cryptocurrency market really is "being chilled", to quote Mike Lempres, chief legal and risk officer at Coinbase. And it's coming from all sides: regulatory bodies, general services, John Oliver shows, mainstream media, and even investors' own risk-assessment. It was bound to happen - the frenzy was getting quite old, really - and is an expected development. Let's hope this is just the beginning of a renewal of sorts for the cryptocurrency and blockchain world.

NVIDIA Turing GPU to Start Mass Production in Q3 2018

Despite not being backed by an official statement, NVIDIA's next-generation crypto-mining Turing graphics cards are expected to be revealed at GTC 2018 between March 26 to 29. According to DigiTimes's latest report, NVIDIA is expecting a drop in demand for graphics card later this year. In an effort to prolong the lifecycle of their current graphics cards, mass production for Turing won't start until the third quarter of 2018. Sources around the industry have also revealed that NVIDIA had a sit-down with AIB partners to address the current situation. In short, NVIDIA partners are now forbidden to promote activities related to cryptocurrency mining and to sell bulks of consumer graphics cards to cryptominers.

NVIDIA Bracing for a Cryptocurrency Demand Drop

In what could bring cheers to PC gamers, and tears to miners, NVIDIA is reportedly wary of a possible drop in cryptocurrencies through 2018. This directly affects the company, since GPUs are used in mining various cryptocurrencies, which triggered inflation in prices of graphics cards from Q2-2017 to Q1-2018. Over the past couple of weeks, prices of popular high-end GPUs such as the GeForce GTX 1080 Ti have cooled, although not back to their original levels. NVIDIA's manufacturing division, which sub-contracts silicon fabrication to TSMC, is calculating the impact a cryptocurrency slump could have on its supply-chain, and are being conservative with their orders to the foundry. A drop in demand could leave the company with vast amounts of unsold inventories based on an old-generation architecture (Pascal, in the wake of Volta/Ampere), which could result in multi-billion-dollar inventory write-offs. According to a Digitimes report, NVIDIA has placed restrictions on its add-in card (AIC) partners on marketing cryptocurrency mining abilities of their graphics cards, and selling directly to large miners.

In addition to a slump in demand for cryptocurrencies, 2018 could see introduction of purpose-built crypto-mining ASICs that are tailored for popular cryptocurrencies. Purpose-built ASICs tend to be extremely economical for medium-thru-large scale miners, in comparison to GPUs. The third horseman is policy. While several governments around the world have developed an appreciation for blockchain technology for its resilience to tampering, fraud, and data-theft (which could be implemented in safekeeping government- and bank-records); governments are, understandably, anti-cryptocurrency, as it undermines sovereign legal tender issued by central banks, and aids tax-evasion. Several governments through 2017-18 have announced measures to crack down on cryptocurrency mining and use as tender. This has led to a further drop in public interest in cryptocurrencies, as large ICO investors are weary of losing money in a highly volatile market. Close to half the ICOs have failed.

Grand Theft PC: Thieves Made Away with 600 Cryptomining Computers

So, what's cheaper than building your own cryptomining rig? Stealing one, of course. With the humor aside, the Associated Press reported that around 600 cryptomining computers were stolen from multiple data centers in Iceland over the last three months. The first three thefts occurred in December, and the fourth took place recently in January. So far, the Icelandic authorities have apprehended 11 individuals, including a security guard, in connection with the series of heists. According to the publication, the stolen computers are estimated to worth almost $2 million. Unfortunately, the police haven't had any lucky locating the whereabouts of the stolen goods. However, they are actively monitoring electric consumption in the country, since cryptomining tends to require high power usage. They've also contacted local internet service providers, electricians, and storage space rentals to ask for their cooperation in reporting any abnormal requests for more power.

"Where Are My Graphics Cards?" - 3 Million Sold to Cryptocurrency Miners in 2017

The title of this piece is both question and answer, though users that keep up with PC-related news knew the answer already. Jon Peddie Research, in a new report, pegs the number of total graphics cards sold to miners at a pretty respectable 3 million units (worth some $776 million). That's some 3 million gamers that could be enjoying video games on their PCs right now, or which would be able to enjoy them at a much lower price that they had to recently pay to have the privilege.

AMD has been the primary benefactor here - its GPU market share went up by 8.1%, while NVIDIA's dropped by 6% and Intel's by 1.9% (the fact that Intel's graphics processing units come embedded in the company's processors helps keep that number stable). As it is, attachment rates of GPUs to systems was over 100% at 136%, the result of miners buying more cards per system in an effort to maximize profits. Jon Peddie thinks that gaming will still be the key player to drive GPU sales, though "augmented by the demand from cryptocurrency miners." The firm also expects demand for GPUs to slacken, coeteris paribus, due to "increasing utilities costs and supply and demand forces that drive up AIB prices." However, for those looking for prices to drop before upgrading their system, the news aren't rosy: the article states that pricing will not drop in the foreseeable future, so owners of GPUs that can actually mine already are being encouraged to mine while not gaming, so as to try and offset the markups in the current GPU offerings.

"Lawyering Up" - Coinbase to Send Data on 13,000 Users to the IRS

Coinbase, one of the world's largest cryptoexchanges - which is also one of those with the most solid footing when it comes to these kind of exchange - has announced via email that it will be disclosing around 13,000 users' data to the IRS. No doubt this is a move by the company to improve its footing even more with state institutions; however, this will certainly reduce consumers' trust in the exchange - at least, for those customers who weren't considering having to pay taxes on their crypto earnings.

What prompted this move by Coinbase? Well, back in November 2016, the IRS, through a San Francisco-based judge, started court proceedings which would see all of Coinbase users' data to be delivered to the services. Coinbase fought over these court proceedings, but ultimately caved in after the IRS's proposal changed from "all users" to a system that's likely based on trading volume. This is why "only" 13,000 users will see their personal data (taxpayer ID, name, birth date, address, and historical transaction records for certain higher-transacting customers during the 2013-2015 period) being delivered to the IRS as part of a major tax evasion investigation (which should surprise no one, really).

ARCHOS Announces the Safe-T mini Hardware Wallet for Storing Cryptocurrencies

ARCHOS is providing cryptocurrency enthusiasts with the perfect hardware wallet to secure their bitcoins and other currencies, to ensure cold storage of private keys and to prevent hacking attempts. Unveiled at the MWC 2018 (Hall 6 - Stand B60), the ARCHOS Safe-T mini will be available starting June 2018, at 49.99 €.

ARCHOS is an active member of the SYSTEMATIC PARIS-REGION cluster who has created a specific branch Digital Trust & Security aiming to promote and develop worldwide champions in cybersecurity. ARCHOS Safe-T mini is in line with the dynamics of this thematic group, which, on the cryptocurrency, has partners like Secure-IC, OCamlPro or Gemalto. Digital Trust & Security has also supported and facilitated the emergence and deployment of major collaborative projects such as iTrac or MoneyTrack.

Cryptocurrency Report: 46% of 2017's ICOs Have Failed Already

ICOs (Initial Coin Offerings) were 2017's talk in the cryptocurrency work: they were akin to the Dot-com craziness in the late 1990's, early 2000's, in that investment and speculation moved billions of dollars. Wherever you turned, every week, and sometimes more than twice per day, ICOs were popping out - initial investment efforts much like Kickstarter in "cool" new projects built on the blockchain technology. According to Tokendata, around 46% of 2017's ICOs resulted in failed projects: of the 902 crowdsales that took place last year, 142 failed at the funding stage, and 276 have failed, due to the "developers" either taking the money and running, or choosing the less obvious approach of letting the project fade into obscurity - alongside the collectively raised $233 million between them.

As if those numbers weren't high and disheartening enough as they are, an additional 113 ICOs are being classified as "semi-failed": the teams behind the projects have either started the process of obscuring their activities, stopping to communicate on social media, or their community has become so small as to mean the project has no chance of success. All in all, the 46% failed ICOs could soon grow to a staggering 59% of either confirmed failures or failures-in-the-making.

Venezuela Oils Its Economic Gears With "petro" Cryptocurrency Launch

Blockchain technologies will eventually change the world, eventually. Whether or not cryptocurrencies will be part of that world, however, is still up for debate. Venezuela, however, is looking to reap dividends from the current cryptocurrency craze before the final answer to that question has a chance of being answered. As the country has entered a severely crippled economic and civil state, the search for a way to raise government funds has led to the development of the petro cryptocurrency - which is linked, as one would expect, to the country's primary export and income source: oil.

As part of the petro pre-sale, investors were being offered $60 petro tokens at discounted rates that they can exchange for actual petros during a planned Mars ICO (Initial Coin Offering). After that ICO has been gone through, a petro will supposedly represent a barrel of crude from a specific division in the country's Orinoco oil belt. Is this a pre-buy for a barrel of crude of sorts? It seems so. It's also an extremely risky move for investors, though, but nothing that they aren't used to already: futures trading does exist, after all.

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.

Full Stop: South Korea Not to Ban Cryptocurrency Trading After All

Remember the revived pressure on cryptocurrencies on account of news that South Korea might halt trading in their territory? Well, the country's finance minister, Kim Dong-yeon, who previously said that shutting down exchanges was "a live option but government ministries need to very seriously review it," came on the record this Wednesday to, let's say, set the record straight, clarifying that "There is no intention to ban or suppress cryptocurrency (market)." The minister, then, added that the government's immediate task is to "regulate exchanges". Those two statements certainly leave a lot of space in-between, since the shutting down of some exchanges while some others are left operating would not, in fact, result in an outright ban. Let's call it pruning, shall we?

The intention, it seems, is to be able to cut out the unregulated parts of the market, that take the form of unregulated exchanges, where the country's customs earlier announced it had uncovered illegal cryptocurrency foreign exchange trading worth nearly $600 million. This, it seems, is the real target for South Korea's newfound steam.

Confessions of a Crypto Miner: Efficiency

Welcome back to Confessions of a Crypto Miner… my bi-weekly 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.

In the last entry, I got my hardware & software set up and started mining. If you were monitoring the miner via the stats link, you may have noticed a few offline moments 2-3 days ago. This was due to me installing a nice new power monitoring setup and taking some measurements at different settings, all with the goal of finding the most efficient way to run the miner long term, to maximize profits. We now have all the data on hand and can now draw conclusions from it. There are two things I'd like to investigate with this article: 240 VAC's impact on power draw, and how the graphics card power limit setting affects profit margins.

Maingear Teams Up with Unikrn to Commercialize UKG Crypto-Mining PCs

Maingear, an award-winning PC system integrator of custom gaming desktops, is partnering with popular eSports brand Unikrn to bring UnikoinGold (UKG) crypto-mining capable PCs to life. The new family of PCs currently consists of two models: the Maingear ACM (Advanced Crypto Miner) and the Maingear ACM PRO. Although Maingear hasn't officially disclosed the technical specifications, the product page gives us a glimpse of the upcoming PCs. The systems are housed inside a spectacular cube-shaped chassis with unique MARC II artwork and gorgeous automotive paint finishes. The ACM model can support up to six graphics cards. Additionally, the ACM PRO model provides additional options for expansion and comes in a rack mountable chassis. Although the systems are designed to mine UnikoinGold, they can be employed to mine Ethereum as well. Both models will be available later this year.

Apart from the new partnership with Unikrn, Maingear also announced that they now accept UnikoinGold as a payment option for their products. From this point forward, their products will come with an option to connect to Unikrn Connekt where gamers can earn UnikoinGold for playing ranked matches while also tracking their statistics and progress in their favorite games.

Confessions of a Crypto Miner: The Setup

As I have mentioned on the forums here at TechPowerUp a few times, I was an active crypto-miner during one of the most tumultuous times in crypto history: The period between 2013 and 2015. Rather than tell you a long and sad story, I will say just this: I ended up with a net loss by the end of this era, and it wasn't a good time to be an investor if you didn't like roller coaster rides. The reasons I lost money are many, but I think I can attribute them to primarily a lack of experience, a lack of written records, and really, a complete lack of a plan.

My New Plan
Yes, I'm planning on mining again. I've always been drawn to the tech, and I am in a much better position to do so now. Ironically, this time around, I'm not really in it for the money. I've already been there, done that, and it's too stressful for me. Having no end goal of riches doesn't set me up for failure. I think it is a more realistic mindset for taking on this project. It also gives me a chance to document my endeavor to the world, and to you, dear reader. I hope we all learn something here.

"You Hold It!" - Cryptocurrency Pricing Plummets as South Korea Revives Pressure

Cryptocurrency value has begun a tumultuous plummet since yesterday, in a market shrinkage that's being mostly correlated with an announcement by South Korean finance minister Kim Dong-yeon that a ban on cryptocurrency trading could still happen, pending a government review. South Korea is one of the world's most relevant economy and technology players, so a ban there could certainly start a domino effect in other countries.

""There are no disagreements over regulating speculation," minister Kim Dong-yeon specifically said - a move that would include a ban on anonymous cryptocurrency account, thus spelling doom for some privacy-focused cryptocurrencies like Monero and ZCash from being traded in the country, for sure. The minister also places a heavy value in being able to tax the income made on virtual currency, and added that shutting down the exchanges was "a live option but government ministries need to very seriously review it."

M&A Technology Starts Shipping Their 200 MH/s Ethereum Manda Miner

M&A Technology continues to innovate with the latest technology and is shipping its Manda Miner which can be configured as an Ethereum or ZCash mining server. The Manda Miner is available now. The Manda Miner is a purpose built, application specific server solution for the cryptocurrency market. It performs at ~200MH/s for Ethereum or ~2400H/s for ZCash. The system designed by experienced cryptocurrency systems engineers is assembled at an ISO certified factory in Texas with the highest quality materials available.

The Manda Miner is a data center ready, performance optimized cool and quiet running cryptocurrency mining server. The Manda Miner is FCC B verified and housed in a 4U chassis specifically for crypto-mining purposes functional as a standalone unit or as a data center cabinet rack-mountable unit. The system's eight high performance graphics cards are optimized to interface with a standard motherboard for manageability and high quality performance. The system utilizes a highly efficient power supply and cooling fans designed to ensure operational efficiency and reliability.

Crytek Implements Crycash Payment Options Into Some of its Games

Crytek have announced a partnership with CRYCASH, an independent decentralized ecosystem of products for gamers fueled by an all-new, gamer-centric cryptocurrency. CRYCASH will be launching with a token sale from December 12th 2017 to January 15th 2018.

"Our motto is creating products which let gamers and developers make more from their passion. The CRYCASH ecosystem solves two problems at once: it gives gamers a way to monetize game time by completing in-game tasks, set by game developers, while providing developers with decentralized sales options for games and other virtual items," explained Wachtang Budagaschwili, CRYCASH CEO. "CRYCASH will consist of four major components: Plink, a communications app for gamers and CRYCASH wallet; an advertising platform; an eSports platform for gaming tournaments and other events; and a virtual asset marketplace."

Opera Integrates Web Mining Protection in Their Latest Opera 50 RC

Opera has announced that the latest, Release Candidate (RC) version of their web browser now incorporates an innovative cryptocurrency mining protection baked in. Opera has been one of the most versatile browsers for some time now, offering integrated VPN, AdBlocker, and bandwidth reduction on its releases. Some issues, such as measure of lacking visibility against Firefox and Chrome, and performance that's seldom in the top spot from the available offerings in the market, has kept this browser from being the go-to option for users. Now, the opera team have again innovated, by integrating a cryptocurrency web mining blocker onto the latest release.

The solution, dubbed NoCoin, works within the confines of the integrated AdBlocking protection, with extended lists that eliminates cryptocurrency mining scripts that "overuse your device's computing ability." To enable the mining protection, users need to go to Settings or Preferences. The NoCoin (Cryptocurrency) setting can be found in Recommended lists of ad filters in the Block ads page. "With NoCoin turned on, pages embedded with cryptocurrency mining scripts will be blocked in a similar way our mechanism blocks ads," said Opera desktop QA Kornelia Mielczarczyk. This is all well and good, but some extensions already offer this kind of protection, and with Google adding their own AdBlocking solution to Chrome in early 2018, this feature exclusivity likely won't remain an additional arrow in Opera's feature quiver for long.

Inno3D Launches New P104-100 Crypto-Mining Accelerator

INNO3D, a leading manufacturer of awesome high-end multimedia components and various innovations enriching your life, introduces its new P104-100 Crypto-Mining Accelerator. The new range will be available in TWIN X2 edition. The P104-100 has been designed with no less than 40% more mining power than its predecessor allowing the miner to enhance ETH, ZEC, etc. number crunching to levels, that have never been seen before. The freshly forged radical comes packed with 11 Gbps GDDR5X memory, and 4GB memory for optimizing cryptocurrency calculations. By deploying the INNO3D P104-100, miners now enjoy the ultimate power and utilize best-in-class hash rate today.

Web Cryptocurrency Mining Evolves: Now Keeps Running After Closing Browser

Well, after users think they've closed their browsers, more specifically. Researchers form anti-malware provider Malwarebytes have discovered a new form of web-based cryptocurrency mining that has a stealth-like approach to running mining code, which might cause less attentive users' machines to keep mining even after their web browsers have been closed. This is done via an utterly simple method, really: upon opening a malicious web page that has been coded to make users' machines mine cryptocurrency, the web page opens a pop-up window that is minimized behind the Windows Taskbar's clock. It's ingeniously simple - but could be surprisingly hard to detect, and could mean that the mining process will actually keep on using CPU cycles and mining crypto indefinitely until the next system reboot.

We Need a Lost Cryptocurrency Crawler: 4 Million Bitcoins Lost in the Ether

Cryptocurrencies as they currently are implemented are one of the most divisive subjects among the tech and economic communities in recent years. No, really; it's reached a kind of "Hayek vs Keynes" level of argument in the later. But one thing can't be denied: some early adopters of the technology have cashed in thoroughly and profoundly on the leading cryptocurrencies. The fact that Bitcoin has appreciated some 340% in the last six months (around $7,300 value increase in a single coin of the cryptocurrency) means many people more will see unbelievable surges in their net worth. Today, a single Bitcoin is trading for around $9,530 - and this is a cryptocurrency that, in its infancy, was being used to trade at rates of thousands of Bitcoin per pizza.

However, as with every currency, there's inevitable losses; paper money has seen its fair share of that, and galleons and caravels filled with gold up to the mast used to sink in oceans all around the world. But cryptocurrency is a digital currency; it's impossible for it to deteriorate away, to be lost with your wallet, or any other exceedingly sad case of lost value. Right? Well, not so; it's encryption algorithm ensures that for users to be able to access the contents of their digital wallets, they have to know the password. And many passwords have been lost and forgotten. Some users have even thrown away HDDs with wallets containing thousands of Bitcoin, and some have even lost their hardware wallets.

Amazon Registers Three New Domains Related to Cryptocurrency

Reports are coming in that Amazon registered three new domains on Tuesday. Normally, this wouldn't raise any eyebrows at all. However, the domain names are quite unique as they're related to cryptocurrency apparently. The domains are amazonethereum.com, amazoncryptocurrency.com, and amazoncryptocurrencies.com. According to the registration information taken from the Whois database, all three are registered to Amazon Technologies, Inc., which we all know is a subsidiary of Amazon.com, Inc.

At the moment of this article, we're not sure what is the reasoning behind Amazon's move. Speculations are saying that maybe the tech giant is finally getting into the cryptocurrency business. Or perhaps it's simply a marketing strategy to protect the Amazon brand similar to when the company registered amazonbitcoin.com back in 2013, which redirects users to the Amazon front page. Some are considering it an indication that Amazon might start accepting cryptocurrencies, like bitcoin despite Amazon Pay's VP Patrick Gauthier telling CNBC last month that there were no immediate plans to accept cryptocurrency.

AMD Stock Plunges Due to Forecast of Slowing Cryptocurrency, Console Markets

AMD's stock on Monday took a relatively steep dive in value, following a report by Morgan Stanley that pegs cryptocurrency-fueled graphics shipments to decline by 50% next year (a $250 million decline in revenue). "We believe that AMD's graphics surge has been caused by a sharp increase in sales of graphics chips to cryptocurrency miners. We expect this to meaningfully decelerate next year," Morgan Stanley analyst Joseph Moore said. At the same time, the report expects video game console demand to decline by 5.5% in 2018, which led Moore towards lowering his price target for AMD shares to $8 from $11, a 32% decline from Friday's close.

As a consequence of the report, Morgan Stanley reduced its rating on AMD shares from equal-weight to underweight, which reduced confidence in the market, and triggered a sell-off - and following the mechanism of availability and demand, a descent in stock pricing was already painted on the wall. A 9% fall isn't something to scoff at - especially when the economics surrounding it are attributed to a single - as of yet - report. AMD stock fluctuations aren't new; the company's stock has been particularly volatile in recent times - especially when compared to its peers (and competitors) Intel and NVIDIA.
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