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basics of proof-of-work and mining to set the appropriate context for the rest of the article it is important to understand the very high-level basics of proof-of-work panel and crypto mining the basics of the proof-of-work process is to convert energy something which is globally distributed and available in various formats / quantities into a digital liquid and mobile form of economic value represented in the form of a cryptocurrency / token example Illustrated for the Bitcoin network the phrase proof-of-work refers to the fact that work in the form of energy consumption which has real costs is expended and converted into another form of economic value Bitcoin or other tokens institutions that participate in the proof-of-work process are called miners miners run specialized Hardware / equipment to solve a cryptographic puzzle e.g sha 256 in the Bitcoin network those that can configure their mining operation to solve the puzzles and the fastest time while incurring the least amount of costs will have profitable businesses this is not dissimilar to other types of energy in manufacturing eg in the oil and gas industry except that the final economic good being manufactured is digital therefore so long as people ascribe a nonzero value to the tokens being mined e.g Bitcoin there is an economic incentive to mine refer to an earlier article on non-sovereign assets for why tokens may have nonzero value miners do not necessarily need to believe in the principles of the block chains they are helping to secure through mining in fact they can be 100% agnostic and mine the block chains that the market deems to be most valuable e.g the mined tokens that the market will pay them the most for in many ways this is the beauty and elegance of proof-of-work this property and incentive could have profound implications for those who study and work in the energy sector all away from exploration and production refining and distribution to energy financial markets and policy powered energy systems engineering and energy economics back in university a majored in chemical engineering in my final year I took a course called energy systems engineering which would proceed to have a major impact on my life the point of the course was to design and analyze energy systems that could technologically supply sufficient energy to meet the round-the-clock demands of customers of a given market while also being economically and financially viable the basics of energy systems engineering matching supply and demand by configuring the optimal energy mix matching supply and demand in a nutshell the key to understanding the complexity of energy systems revolves around matching the profile of energy supply how much energy can be produced in a given physical location at a given point in time versus the profile of energy demand how much energy does a community need in that same location at a given point in time the energy makes based on what technologies and methods are available reflect a complex optimization exercise in addition to supply and demand other real-world constraints can be overlaid including but not limited to things like environmental factors e.g burning coal releases more co2 versus burning natural gas versus running a wind farm build / decommissioning factors e.g building a nuclear power plant requires building 100-year financial reserves for future teardown life cycle operation factors e.g different types of ongoing servicing / maintenance required for upkeep of different technologies from carbon-based to carbon free one of the main focuses of many energy systems engineering exercises today is to try and maximize the use of renewable carbon free sources political developments like that EWTN’s sustainable development goals / SDGs and the Paris climate agreement have further supported this however the challenge with achieving this often boils down to the inherent economics arising from renewable energy production the challenges most commonly cited are twofold one most renewable energies either are to intermittent and/or to to geographically limiting as a result the economics alone may not always incentivize development depending on where you live in the world to solve this problem a number of solutions have been proposed from government subsidies and purchase power agreements to technology R&D to develop better energy storage each have their own pros and cons the common thread across these solutions is that none can immediately address the issues we face at the scale needed at least not yet further complicating the matter is the high degree of global political coordination required to even take baby steps forward given the urgency as estimated by some to change our energy system there is a risk in relying on global political consensus to drive progress proof of work is a potential market driven bridge solution a potential bridge mechanism to kick-start the longer-term solutions could be to leverage proof of work based mining mechanisms proof of work presents new potential pathways for the energy sector to monetize energy production and unlock it from its historical physical constraints in particular Bitcoin lightning Network hits 1,000 BTC capacity on its one-year anniversary Bitcoin lightning network has surpassed 1,000 BTC network capacity on its one-year anniversary the event highlights the layer to scaling solutions progression in the short span of only a year doc bitcoin lightning network happy birthday one year ago on March 15th Lightning Labs CEO Elizabeth Stark announced the first official beta implementation of the Lightning Network the solution saw support from Twitter CEO Jack Dorsey Tesla and SpaceX investor Bill Lee backing from computer giant Microsoft and other prominent members of the cryptocurrency community one year later the lighting Network LN has gone a long way according to Ellen monitoring website 1ml the network’s capacity is 1050 6.83 B TCR more than 4.2 million dollars marking a 54% increase over the last 30 days alone the number of channels has also jumped with more than 47 percent in the last month currently standing at 39222 the number of nodes is seven thousand three hundred eighty one seventeen point eight nine percent increased throughout the same period moreover the actual adoption of the Ln is also making serious advances Twitter CEO Jack Dorsey praised the scaling solution outlining that it’s only a matter of time for it to come to Twitter it’s not a myth it’s more of a win how do we make sure that we’re getting the speed that we need in the efficiency L and also gained massive attention thanks to an initiative by user HUD Lynott called the lightning torch it aims to raise awareness of lightning networks benefits by passing around a snowballing payment around the globe instantly and at almost no cost l ends not only good for micro payments network engineer melech mannequin at real Ludvik also pointed out that liquidity also increasing as the BTC united states dollar exchange rate rises assuming current number lightning limits of sixteen point seven meters sot channel capacity and four point three meters HT l CS @ 4k BTC USD a channel can route up to 172 united states dollars at 40k BTC USD a channel can route up to 1720 United States dollars at 400 KB TC USD a channel can route up to 17,000 200 United States Dollars liquidity Rises with BTC USD exchange rate assuming current number lightning limits of 16 point seven meters Sat channel capacity and four point three meters HT l CS @ 4k BTC USD a channel can route up to 170 to USD 84 T KB TC USD a channel can route up to 17 20 USD 8400 KB TC USD the channel can route up to 17 thousand 200 United States Dollars liquidity Rises with BTC USD exchange rate Melek MA and uky aan had real Ludvik March 16 20 19 meanwhile bit BTW c00 has once again breached $4,000 according to the head analyst at fund strict Global Advisors Tom Lee should it manage to maintain stability at around these levels bitcoins price might cross its 200-day moving average in the next five or six months and going to start looking technically like its back in a bull market have you used the Bitcoin lightning Network don’t hesitate to share your experience in the comments below US supermarket chain Kroger ditches visa and considers bitcoins lightning Network as a replacement major us-based retailer Kroger has announced it will no longer accept Visa credit cards that it Smith’s food and drugstores because of exorbitant fees Anthony pump Leon o tweeted a suggestion to hook them up with bitcoins Lightning Network countrywide and it appears like Kroger may be taking up the offer an issue with excessive fees the Cincinnati based Kroger that operates 143 food and drug stores across seven states and employs over 20,000 people began the debate with a March 1st 2019 announcement that it was no longer going to accept Visa credit cards as a result of high fees according to Boston 25 News Kroger brands would stop accepting Visa from April 3rd 2019 in some states and will explore other options to cut down on the costs incurred by Visa Kroger CFO Mike Schladming lamented that the card fees charged by payments tightened were higher at Smith’s than any other credit card brand adding that Visa was due to increase its processing fees in April he explained Visa has been misusing its position and charging retailers excessive fees for a long time saw an opportunity it was under those circumstances that Morgan Creek digital founder Anthony pomp Liana saw an opportunity and quickly tweeted back suggesting the crypto alternative grocery store at Kroger is stopping acceptance at that’s Visa in over 250 stores because of network fees who knows someone on the leadership team there the Morgan Creek digital team will fly to meet them and get them hooked up with the Lightning Network nationwide percent away Tom had a pump Leon Oh March 2nd 2019 several hours later Kroger’s production manager tweeted a response showing interest in taking the conversation further he wrote hey pumped I’m a product manager at Kroger digital can you confirm that you’re the correct person could discuss this with I would love to set up a conversation Tom responded saying DM me let’s do it the point lightning to the rescue Smiths is the second Kroger brand to abandon Visa credit cards following a similar decision by california-based Foods Company supermarket should the deal between pomp Leon oh and the Smiths go through and the implementation of the Lightning Network payment solution is implemented that could lead to broader adoption across all the Kroger brands for their part visa is not about to give up and has promised to work out the problem stating that they have put forward a number of solutions to allow our card holders to continue using their preferred Visa credit cards at Foods Company in Smith’s without Kroger imposed restrictions and we continue to work toward a resolution the Bitcoin network is steadily making inroads in the crypto community and it has continued to receive support from leading companies and individuals giving advantages of preferred payment processor among those who have received a payment in a transaction chain called des lightning torch our Lincoln and co-founder Reed Hoffman and the digital team at fidelity investments from tweeted dot we and our research team at the fidelity Center for Applied Technology have received the numberland torch from a twist who should we pass it to thanks for watching the Ohio Bitcoin calm Bitcoin news channel today we appreciate you spending some of your valuable time with us disclaimer price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice neither Ohio Bitcoin comm nor the author is responsible for any losses or gains as the ultimate decision to conduct a trade is made by the reader always remember that only those in possession of their own private keys are in control of their own money if you enjoy this type of content please smash the like and subscribe buttons below it helps us to get more views thanks again see you with more Bitcoin headline news and analysis soon SEC fin hub Department goes on us tour the tour will start March 26 in San Francisco and continue across the US on March 6th the US Securities and Exchange Commission’s SEC strategic hub for innovation and financial technology fin hub announced it will be traveling the country and conducting face-to-face meetings with fin tech startups and entrepreneurs according to the SEC’s announcement the first meetings will be held in the SEC offices in San Francisco after this the fin hub staff will travel nationwide to facilitate local peer-to-peer meetings in which members of the fin tech community will have the chance to ask SEC representatives questions about regulations projects or any concerns participants can also discuss wide-ranging issues or even provide the SEC with a presentation about the projects they are working on the meetings will begin on March 26th 2019 interested parties are required to fill out a request form and can also upload any pertinent information about their company or projects such as white papers research material their presentations dot the SEC’s fin hub Department was created in October 2018 under the leadership of Valerie a sceptic to provide the FinTech industry with solid information about laws and regulations and provide a channel for communication with the SEC nathan graham is a full-time staff writer for ethnos he lives in Sparks Nevada with his wife Beth and dog Kea nathan has a passion for new technology grant writing and short stories he spends his time rafting the American River playing video games and writing ëthe News is committed to its editorial policy like what you read follow us on twitter at ethnos to receive the latest SEC US Securities and Exchange Commission or other ethereum law and legislation news Utah lawmakers sponsor bill to exclude cryptocurrency transactions for money transmission laws a Utah State Senator has introduced a bill that could exempt cryptocurrency and blockchain technology focused businesses from the states money transmission laws if passed Utah would become the next after Pennsylvania and New Hampshire to classify virtual currency businesses outside the ambit of money transmission regulations Utah the next cryptocurrency friendly destination in the US on March 1st 2019 daniel hammered a Republican member of the Utah Senate introduced Senate bill 213 the bill seeks to provide an exemption for cryptocurrency token issuers and exchanges from being classified as money transmitters the proposed legislation also looks to create a clear framework upon which future regulations could be built thus the bill asks for the creation of a 12-man blockchain pilot project evaluation task force that would oversee the study of the cryptocurrency and blockchain technology landscape according to the proposed bill the task force will examine the various ways in which the emerging technology could be of benefit to the state also the team will develop preliminary rules and regulations for consideration by appropriate committees in the state legislature if passed Utah will join the likes of Pennsylvania and New Hampshire in exempting cryptocurrency exchanges and token issuers from money transmission laws Wyoming also recently introduced and passed into law several cryptocurrency focused bills one such bill exempts cryptocurrency tokens from both Securities and money transmission laws money transmission laws and the emerging digital economy in the absence of federal cryptocurrency regulations different states in the u.s. continued to develop their virtual currency in blockchain technology laws thus businesses are forced to navigate a patchwork of state regulations as part of their operations the question of whether crypto currency trading constitutes money transmission is one that has no consensus agreement among state regulators in the u.s. part of the issue lies in determining whether crypto currencies like Bitcoin represent money or not thus while Pennsylvania New Hampshire Illinois and Texas do not classify crypto trading as money transmission others like New York North Carolina and Oregon have elected to do the exact opposite New York even has its legacy crypto currency business registration bit license which is required for operating in the state states like Wyoming believe that excluding cryptocurrency trading from money transmission laws creates a conducive environment for virtual currency businesses on the opposite side proponents say such exemptions open the door for money laundering and other illegal financial transactions thanks for watching the ohio bitcoin comm bitcoin news channel today we appreciate you spending some of your valuable time with us disclaimer price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice neither ohio bitcoin calm nor the author is responsible for any losses or gains has the ultimate decision to conduct a trade is made by the reader always remember that only those in possession of their own private keys are in control of their own money if you enjoy this type of content please smash the like and subscribe buttons below it helps us to get more views thanks again see you with more bitcoin headline news and analysis soon crypto industry still at odds over JPM coin weeks after the announcement of the JPM coin the crypto industry is still confused about whether to embrace or reject it now vine ins put out a study on March 1st 2019 claiming that the coin will not be in competition with ripples XRP what to do in february 20 19 km organ broke the news that they would be launching the JPM coin a dollar backed coin that would be used for cross-border transactions among their customers the news is already weeks old but discussions surrounding it if not slowed down in the least there has been commentary calling the move hypocritical due to the management of JP Morgan previously bashing Bitcoin and also discussion about what place the new coin will have in the market and more specifically who they would be competing with the most obvious candidate is ripples XRP token which is the go-to for cross-border transactions in the industry the initial verdict was that the JPM would definitely be competing with XRP because would be targeting the same class of users who want quick and affordable cross-border transfers finances take now it would seem that opposing views are forming within the crypto industry regarding the matter and one firm that has chimed in his finance who released a report on March 1st 2019 addressing the issue they argue that when the JPM coin takes off they will make use of a private permission coram blockchain network to conduct inter institutional transfers and value settlements in the case of XRP the focus is to promote interbank transfer in settlements and also to serve as a mediator between Fiat and crypto services this is in contrast to the closed network system that JPM will be making use of ripple has seen partnerships with the number of banks around the world because they trust their platform this will not be the case with JP m because banks will be reluctant to make use of another Bank settlement token it is more feasible that other banks will create their own coins this means according to the study that both coins are targeting different markets and thus will not compete with each other mixed reviews the by Nance Report is just another example of the conflicting opinions being given in the industry about the coin a fiat backed stable coin is an essence of central bank digital currency but with the credits risk of the depository bank eg JPM coin a free-floating digital asset like x RP has credits risk against its largest holding party that party is in essence its central bank Simon Taylor at C Taylor March 3rd 2019 other commentators speculated a bloody crypto war fight between dollar J p.m. and dollar x RP is coming G like the dud I hope both of them were killed by each other finally dot Pokemon G @ kokum on G March 3rd 2019 thanks for watching the Ohio Bitcoin calm Bitcoin news channel today we appreciate you spending some of your valuable time with us disclaimer price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice neither Ohio Bitcoin dot-com nor the author is responsible for any losses or gains as the ultimate decision to conduct a trade is made by the reader always remember that only those in possession of their own private keys are in control of their own money if you enjoy this type of content please smash the like and subscribe buttons below it helps us to get more views thanks again see you with more Bitcoin headline news and analysis soon blockchain to be integrated into facebook login Facebook CEO Mark Zuckerberg reveals in an interview with Jonathan Zittrain a professor at Harvard that he’s willing to put the login on the blockchain Zuckerberg revealed that the technology could give the social media users soul powers when using and giving information access to third-party apps in May 20 18 the media giant formed a blockchain team headed by David Marcus ex vice president of messenger the primary objective of the team was to explore the best techniques to leverage blockchain technology with social network dot like many other companies Facebook is exploring ways to leverage the power of blockchain technology a spokesman revealed dot Facebook to create its own cryptocurrency last year the meteor giant was also delving into the possibility of creating its own digital currency for payments but this is the first signal that the company could incorporate blockchain as part of its login and data sharing system dot an and I interview Zuckerberg revealed confirmation was her use of the technology that is greatly interested in even though he hasn’t discovered the best way for this to operate the suggested system would substitute Facebook Connect with distributed ledger technology dot the system will enable users to select which apps to give access to and also set the limit of data shared various third-party services are already designing similar systems to safeguard individuals personal information but Facebook joining the bandwagon would be a substantial change in the field dot Zuckerberg further explained dot you basically take your information you store it on some decentralized system and you have the choice of whether to log in in different places and you’re not going through an intermediary there’s a lot of things that I think would be quite attractive about that dot in December Facebook began a struggle of hunting blockchain technology specialists to work on its new project as reported by Co natal there has been much hype on the growing of startups and initial coin offerings established monthly and this triggers the meteor giant to join the trend if you enjoy this type of content please click the like and subscribe buttons below it helps us to get more views thanks again see you with more Bitcoin headline news and analysis soon pro Bitcoin Colorado governor signs cryptocurrency friendly bill Jared Paulus the governor of Colorado has signed a cryptocurrency friendly bill exempting digital tokens from state securities laws if their primary purpose is as a consumptive Colorado digital token Act in November Bitcoin is reported that US representative Jared Paulus who is a known cryptocurrency and blockchain advocate became Colorado’s Governor on March 6th Teresa Sur Act said that Paulus has signed Colorado’s digital token Act the act is supposed to enter into effect on August 2nd 2019 and it aims to cement the state’s position as a hub for companies and entrepreneurs that seek to utilize cryptic anomic systems to power blockchain technology based business models the bill outlines the uncertainties companies face when buying selling and even issuing their own cryptocurrencies it also exempts certain digital tokens from state securities regulations exciting day for number blockchain technology at kvass co @ dreadful assigned the number digital token act today with key legislators attorney general a tweezer and number colorado cabinet members patty salazar with at Dora Colorado at Betsy Markey within it and at Teresa Surikov added Colorado picked twitter.com era load P Teresa Zurich at Teresa suruc March 7th 2019 exemptions based on purpose Colorado’s digital token Act will effectively exempt cryptocurrencies from state securities laws if the primary purpose of the digital token is a consumptive purpose additionally the law is clearly addressing the ICO fundraising model it stipulates the tokens issued through a crowdfunding campaign of the kind will be exempt from securities regulations if the issuer of the digital token markets the digital token to be used for a consumptive purpose and does not market the digital token to be used for a speculative or investment purpose therefore digital tokens will be subjected to securities regulations if they are used for speculative or investment purposes the law also outlines how exemptions will be granted for the document each issuer of a digital token shall file a notice of intent with the Securities Commissioner before he can qualify for an exemption what do you think about Colorado’s digital token Act do you think regulation is needed for cryptocurrencies to recover and thrive don’t hesitate to let us know in the comments below dot thanks for watching the Ohio Bitcoin comm Bitcoin news channel today we appreciate you spending some of your valuable time with us disclaimer price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice neither Ohio Bitcoin comm nor the author is responsible for any losses or gains has the ultimate decision to conduct a trade is made by the reader always remember that only those in possession of their own private keys are in control of their own money if you enjoy this type of content please smash the like and subscribe buttons below it helps us to get more views thanks again see you with more Bitcoin headline news and analysis soon Apple co-founder Steve Wozniak lost respect for Mark Zuckerberg but not Bitcoin Wozniak calls Bitcoin as something which has provided massive value creation he admits holding a few bitcoins for expert hunting with new devices and applications during his recent interview with Bloomberg on Wednesday February the 26th Apple co-founder Steve Wozniak openly praised Bitcoin although not at Crypt to invest to himself he said that Bitcoin provides massive value creation Steve Wozniak has been a longtime supporter and proponent of Bitcoin BTC last year in June 2018 wasn’t he act stated that he believes that Bitcoin will be the single native currency of the globe during the recent interview Bloomberg’s Yossef claim or Elton asked if he continues with his stand after we’ve seen massive value destruction in Bitcoin responding to this Wozniak said I’m not sure like and by that we’ve seen massive value destruction I think we’ve seen massive value creation psychology will often drive market I never invested in Bitcoin as an investor I only had Bitcoin to experiment with and find out how to buy and sell things around the world and find restaurants that accept Bitcoin however Wozniak admits holding a few Bitcoin for experimenting with new devices and applications he also noted that once he had a lot of bitcoins which he sold during the 2017 bull run he said when it went up I I didn’t want to be one of those people obsessively watching the Bitcoin price so I sold out I don’t know where it is now but it’s way over what I bought it at lost respect for Mark Zuckerberg says was besides Bitcoin Wozniak spoke on a range of issues like artificial intelligence and combating data breach issues on the latter issue wasn’t he except that he lost respect for Facebook co-founder Mark Zuckerberg

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