Archive December 2018

NEO Mining Explained. What is it? Does it exist?

The post NEO Mining Explained. What is it? Does it exist? appeared first on Cryptocurrency exchange: buy/sell/trade bitcoin & altcoins | iCE3X.
NEO was launched in 2014 by Da Hongfei and Erik Zhang by the name Antshare. In June 2017, it became known as NEO, the name we all know it by today. Since then, NEO has made its mark in the crypto space by making it to 17th place in terms of market capitalization. NEO is the first decentralized, open-sourced blockchain and cryptocurrency platform to launch in China. Commonly known by the nickname “Chinese Ethereum” NEO attempts to learn from Ethereums mistakes. In this post, we will be going over the process of NEO mining and how its consensus works.
Neo mining or more correctly: The Proof of Stake Consensus
The NEO cryptocurrency uses a Proof of Stake consensus. In a nutshell, a consensus is a process of trying to maintain a single version of the truth. Over time, we have many transactions that we need to record on the blockchain (the book of truth). As blockchains are run decentralized from all over the world, different transactions are being received at different times, which can cause disagreements about what the actual truth is. The goal is to get a good consensus running by any means. This is because you open yourself up to many risks such as double spending attacks etc if you don’t have one.
Currently, Bitcoin uses the Proof of Work (PoW) consensus mechanism. In order for this to work, miners must use expensive hardware, consuming large amounts of electricity while applying strong processing power in order to complete a computational maths problem. This is the process of mining new blocks (Transactions) and adding them to the blockchain (publishing their version of the truth). Bitcoin takes advantage of economic incentives in order to discourage people from producing different chains. In other words, this would be deviating forked versions of the truth. A problem with this, however, is that Bitcoin’s guarantee isn’t mathematical, it’s economic and probabilistic, slowing it down as a result.
An Alternative Approach
Ethereum is another cryptocurrency that uses the Proof of Work consensus mechanism. However, they are planning on moving to a Proof of Stake consensus called Casper later in the year. Casper is a highly complex consensus, and we believe people should do some research into how it works in detail. Essentially, Ethereum validators (miners) will invest their ETH tokens in this staking process. If it turns out they were trying to cheat, all their ETH tokens will be lost. Ethereum is taking a punishment-focused approached to the Proof of Stake consensus.
Delegated Byzantine Fault Tolerance
In a nutshell, Delegated Byzantine Fault Tolerance (dBFT) is a fancy name for the solution to getting an eventual consensus under a certain set of conditions. The main condition is very simple: So long as 1/3 of bookkeeper nodes are BAD actors, you’re eligible for eventual consensus, and everyone stays happy. This is the most important thing to take note of. I will explain why this is 1/3 instead of 1/4 or any other fraction of nodes.

Yea yes yes!Another month of #Blockchain development and working hard with our global community! #neo $neo pic.twitter.com/VfuLC33FFv
— Tamar Salant (@TamarSalant) December 2, 2018

Painting the Walls
So, the King has decided to paint the walls of his castle. He says it’s either going to become Blue (B) or Red (R). The King doesn’t mind which colour they go with, so long as the colour stays consistent throughout the kingdom. As well as this, he wants all of his daughters and sons to agree on the colour choice. As a result, he calls his four painters over, and sends a signed message to his children:
“To resolve this issue, I want you, my beloved children, to agree on the colour the kingdom will be. Tell my painters and they will paint my walls the desired colour. As soon as one of my painters hears from you and you’re able to prove that 2/3 of my family agree on a colour, they will start painting the Kingdom.”
The children can contact the painters with ease. However, there is a problem. There has been fighting between the family, and the sons and daughters have no direct contact. Instead, they pass messages between one another. They are all connected, just not directly. Some members of the family are evil, and they’d like to get at least one of the painters to paint the wrong colour. As a result, the family discusses and then decides on a protocol.
The Protocol

The oldest family member is elected the speaker
He/she will then communicate their chosen colour with their signature
Everyone will then communicate that colour to everyone else until everyone is informed. They will also include their signature
If 2/3rds of the people have the same colour choice, the painter can be informed of the colour choice.
If not, wait for a while, then re-elect the next oldest member as the speaker and repeat the process.

These signatures are impossible to replicate. They are proof without a doubt that the person signed it.
Proving Consensus Protection
With a protocol like this in place, we are now able to prove that so long as 1/3 of the family is evil, it’s impossible for any of the painters to get a different message. This will stop them from painting the walls of the kingdom inconsistently. The proof works like this:
Imagine that the bad family members belong to a secret cult ‘F’ and have managed to plant themselves between the good family members. This would create a split into 2 groups, ‘R1′ and ‘R2′. Members in ‘R1’ are able to talk to each other and to ‘F’, but they cannot talk directly to R2. These rules apply to R2 also.
In this scenario, members from ‘F’ are in control as they are able to determine what information flows between the R1 group, and the R2 group. In order for them to create chaos, F must get 2/3 of the signatures (including their own) to be Red and Blue. It’s important to note that they can sign for Green and pass that message to one person, then sign Black and give that to another person.
The Maths
After members from F pull that off, it becomes easy. To get 2/3 of the signatures, we need the size of group F and R1 to be >=2/3 of the total people. We also need this to be true for group F and R2. This way, R1 members will think that the colour should be Blue, and the other group will think it’s Red. This will cause everything to go wrong once the painters are informed. However, because group F is smaller than 1/3 (remember, 2/3 of people are trustworthy), it is impossible for BOTH F+R1 and F+R2 to be bigger than 2/3 x N.
The dBFT doesn’t guarantee consensus. This is because it’s possible the messaging network is broken, stopping people from talking to each other. However, it does give a guarantee of protection. If you do reach consensus, you cannot then reach a separate different consensus later. As long as all of the bad actors are less than 1/3 of all bookkeepers on the network, all is well.
Conclusion
NEO, the ‘Chinese Ethereum’ has been making huge strides these last few years, seeing explosive growth.  NEO has strong leadership, an experienced team of developers and a loyal community pushing their platform. In fact, NEO recently formed a cooperation with Microsoft. This has only helped move them into a more favourable position. The adoption of NEO’s software by Microsoft, the software giant, only seems to strengthen NEO’s position in the crypto space. Paired with a consensus that could revolutionise how verifying transactions works, NEO is a promising feat. Will you be trading NEO? If not, why? Let us know your thoughts in the comments below!
You are always welcomed to trade NEO at iCE3X!
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Why is EDGE wallet one of the best NON-custodial cryptocurrency wallets?

Why is EDGE wallet one of the best NON-custodial cryptocurrency wallets?

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Edge started out as a bitcoin wallet and business directory called AirBitz. Now, they plan on expanding into the world of cybersecurity. Edge now offers the Edge Security Platform to ease consumer and investor concerns regarding large-scale data breaches. In this post, I will be going over what Edge Wallet is, and why it’s one of the best non-custodial cryptocurrency wallets on the market.
Edge Wallet
During the winter of 2014 Edge began as AirBitz, a business directory and crypto wallet the brand is still widely known for. This Bitcoin wallet was their first application for the Edge Security model. They worked hard to create a software development kit (SDK) for developers to use the tools of the AirBitz Wallet. They successfully completed this mission in 2015. From then on, the Edge Security SDK has been a prevalent part of multiple successful blockchain projects.
By 2017, the AirBitz Wallet was renowned far more than a simple Bitcoin Wallet. Now, it was a multicurrency wallet as well as a solution for data security. As the company coined “Edge Security”, the only logical step next would be to turn their data security solutions into a platform.

What Does Edge Security Plan to Solve?
Edge Security plans to change the historic reliance on large corporations and organizations to secure our data. This security model creates huge pools of data, making these organizations a target for both attackers and hackers alike. It only takes one vulnerability for a hacker to gain the ability to access everyone’s personal data. The Edge team saw how these ‘trusted’ data custodians are able to fail and decided to do something about it. Paired with blockchain technology, the Edge Security Platform aims to eradicate large-scale data breaches, allowing everyone to use emerging networks with fewer security worries.

"In terms of usability, navigating through the Edge Bitcoin Cash wallet is ultra-simple. Therefore, if you are just starting out in the cryptocurrency space, Edge would be a good wallet to use." Thanks, @realunhashed!https://t.co/R1zQcv2veW
— Edge (@EdgeWallet) December 13, 2018

Edge Wallet Features
With the Edge Security platform still under development, many users enjoy the AirBitz Bitcoin Wallet. This wallet supports several different cryptocurrencies, allowing users to hold all of their crypto assets in an easily accessible and convenient location. In order to provide the best possible multi-currency support, The Edge wallet allows users to exchange between assets on the move.
Currently, the Edge wallet supports;

Bitcoin
Ethereum
Litecoin
Wings
XRP
Bitcoin Cash
Dash
Augur REP
Vertcoin
Feathercoin
ZCoin
DigiByte
Bitcoin Gold
Indorse

The Edge team gladly accepts all requests to support other cryptocurrencies as well, so if one of the coins you are holding isn’t listed, try your luck at contacting the dev team! With the ability to request new cryptocurrencies, one can only assume that the list of currently supported coins will expand in the future.

How Does Edge Wallet Differ From the Competition?
Usually, traditional cryptocurrency wallets only support a single currency. This means if you have multiple digital assets, you’ll need multiple applications in order to manage them all. Separately. With the Edge wallet, quality of life is increased tenfold as you are able to manage many (or even all) of your cryptocurrency assets within the same application. In addition to this, the passwords and login information you’d need to remember in order to access multiple applications is significantly lower with Edge Wallet.
Also, the Edge Wallet is one of the few cryptocurrency wallets that allow users to both store their crypto AND to exchange it. This means users can use Edge as either just a wallet or as a trading platform also.
How Does Edge Provide Security?
It may be important to note that the Edge team coined the term “Edge Security” and plan to launch an Edge Security platform. With a bold statement like this, it’s pretty much a given that their products remain highly secure.
Cutting edge security, user privacy, and ease of use are at the foundation of everything we build. The Edge Wallet combines these features into one user friendly platform for beginners and experts alike. – Edge
One of Edge’s main features that aid in this, is their client-side encryption. This means that every piece of data will be encrypted through your device before the info reaches their data servers. Having client-side encryption greatly reduces the risk of a server hack, or malware affecting your data. Plus, it gives you the assurance that Edge, as a company, is unable to access your personal information.
Conclusion
Edge has been a highly reputable cryptocurrency wallet for a long time now. With wallet support for several different cryptocurrencies, a crypto exchange platform within the application and top-tier security, there is no question as to why this may be.
Will you be using an Edge wallet in the future? Or do you already own one? Let us know your thoughts about Edge in the comments below!
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Complete in Depth Guide About Dash Mining!

The post Complete in Depth Guide About Dash Mining! appeared first on Cryptocurrency exchange: buy/sell/trade bitcoin & altcoins | iCE3X.
The Dash cryptocurrency is one of the more popular altcoins on the market. Known previously as “Xcoin” when it first launched, before becoming “Darkcoin” a short while after. Today, it goes by the name we all know it by, Dash. Dash was the first self-governing and self-funded protocol. In addition to this, Dash was also one of the first Decentralized Autonomous Organizations (DAOs). Initially, it was developed as a solution to many problems that plagued the bitcoin network. Some of Dash’s main selling points are fast transaction speeds (InstaSend) enhanced privacy (PrivateSend) and strong security. All Dash transactions are confirmed by a 200 TerraHash algorithm. In this post, we will be looking at Dash mining.
Dash Mining Explained
The Dash cryptocurrency uses the Proof of Work consensus mechanism, similar to Bitcoin though it has a different hash algorithm called x11. Developed by Evan Duffield, Dash Core developer, the algorithm takes its name from the 11 sequential hashing algorithms it implements. The main advantage this hashing algorithm has is that it requires far less computational power and energy in comparison to bitcoin’s SHA-256 hash.
Regardless, the same basic principle remains. If a miner wants to earn rewards for mining, they must apply computational power to solve maths problems, which then need to be reviewed by other miners on the network. Powerful hardware like GPUs or ASIC mining hardware makes this possible. A noteworthy feature of Dash mining; is that it uses an open-source hashing algorithm that constantly adjusts the mining difficulty for the network. This is Dark Gravity Wave or DGW. DGW is in place to ensure that the network difficulty is adjusted for every single block added to the chain. This is vastly different to bitcoin, which only adjusts after 2016 new blocks.
Hashing Algorithms
The DGW algorithm has been evolving over the years, recently reaching its 3rd version; upgraded to solve most of the issues associated with Dash’s time-warping exploit, floating point accuracy and difficulty retargeting. On the two-tier Dash network, miners will share their block rewards with masternodes and the system. Miners will receive 45%, master nodes get 45%, and the remaining 10% of the block reward goes towards supporting the system. This 10% mainly goes toward paying out network contracts that look to develop and invest into the Dash ecosystem.
As you could imagine, masternodes play a highly important role in the Dash ecosystem. To set up and run a masternode, users must ensure that they have 1000 DASH coins in a Dash wallet. They must also ensure they either have a Linux server, or a Virtual Private Server (VPS). In order to run the masternode, all 1000 coins must stay in your wallet. Having less than the aforementioned number cause your masternode to be removed from the Dash network.

Recent controversies in other #cryptocurrency projects prove 51% mining attacks are real; Monacoin, Bitcoin Gold, ZenCash, Verge & Litecoin Cash have all been victims. Today #Dash announced #LLMQ-Based #ChainLocks solving 51% attack vector.More info: https://t.co/mmav6emz57 👀👍 pic.twitter.com/MU57RMaOeg
— Mark Mason (@StayDashy) November 29, 2018

Dash Mining Hardware
In the early days of Dash mining, it was easy to make a profit by CPU or GPU mining on your personal computer.
But now due to ASIC mining hardware entering the fray, the only way to make a worthwhile profit is to invest large amounts of money into an ASIC miner.
Before doing this, be sure to check a mining profitability calculator in order to see if it’s possible for you to make a profit. Factors to take into consideration are; Hardware costs, Electricity costs, Hash rate, mining difficulty.
Often, people only plan for the first 2 months of their mining adventures, without taking network difficulty into consideration. Over time, network difficulty will increase, this is inevitable. The consequence of this is that eventually, you will start making less crypto overtime even with the same hardware. To counteract this, some miners either stop mining once they are mining at a loss, or double up and buy a second ASIC miner to double their hashrate.
One of the best Dash miners is the Antminer D3, Developed by Bitmain in 2017. Using the x11 algorithm with a hashrate of 19.3 GH/s with a power consumption of 1350w, this hardware is a great choice for Dash mining. Please remember you will need to buy a PSU as well as the hardware.
Cloud Mining Dash
If purchasing all this expensive hardware made you turn your nose, there could be another option for you. Cloud Mining. Cloud mining is a relatively cheaper alternative to mining. Usually, processing power comes from many different PCs in countries all over the world with low energy costs. This allows users to rent hashing power from mining farms in exchange for fiat currency and sometimes even cryptocurrency. Some cloud mining providers are Bitminer, HashFlare, and NiceHash.
How profitable is Dash Mining?
Purchasing your mining hardware and joining a mining pool is just a part of the process when attempting to start cryptocurrency mining. If a user wants to mine dash, they will also need a wallet that can accept their Dash tokens. If you’re not going to get a hardware wallet, there are some online wallets you can get for free also although they are less secure.
The global hashrate for Dash has been up and down for the past couple of years. While currently, the profitability is not as high as it once was following its genesis, the x11 algorithm is relatively easy to mine. The hash rate will always be related to the price of the coin, so if you believe in Dash even when the price is low, then mining it in abundance while the price is low could help you build up your Dash portfolio.
Much like any cryptocurrency, Dash mining is able to be profitable. If you spend the time to thoroughly research the mining equipment you need as well as calculating the total cost and potential profit, you can definitely profit. Don’t be fooled by getting rich quick schemes. While mining sounds like you buy some hardware, load it up and generate money, there’s far more to it. Many miners have spent weeks or even months researching all the hardware and best electricity deals they can get before investing so they can maximize their returns.
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Rhino Coin: Could a Cryptocurrency Save South Africa’s Declining Rhinoceros Population?

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For a country that has 80% of the world’s rhinoceros population, many South Africans are concerned about the conservation of them. I mean, with 1,000 rhinos dying each year, I’d say it’s a worthy cause for concern. As a result, some enterprising Saffa’s recently launched a cryptocurrency made specially to aid in saving one of the proudest symbols of Africa. In this post, we will be looking into Rhino Coin and what it can do for Africa.
Rhino Coin
Founded by Alexander Wilcocks and Jacques du Randt, RhinoCoin (RNC) aims to give value to legal rhino horns on a 1 coin to 1 gram (of rhino horn) ratio. This will allow conservationists to unlock a new value from a stored asset that is currently without a legal market value. Consequently, there is an ongoing debate between the two opposing sides: pro-traders and anti-traders. The people who are pro-trading believe that these stockpiles of rhino horns should be sold. This will provide more income for the conservation of the rhino, putting a stop to illegal trade and poaching as a result
Rhino horns cost approximately $125 per gram on the international market. A single Rhino Coin is a fraction of this. Currently, all investors that purchase Rhino Coin on a 1:1 ratio not only add much needed short-term capital into the conservation of rhinos but in the event that global trade becomes legal, these investors could see significant returns by selling this horn internationally. But until then, domestic trade is the only option, so if the investor has the necessary permits they can redeem their coins if they wish.
How it Works
Rhino Coin operates differently to most cryptocurrencies. With RNC, a horn owner will place their horn into the Rhino Coin system. This is done by legally selling it to Cornu Logistics. The horn(s) are audited, weighed and put in Cornu’s vault. One Rhino Coin is then generated for each gram of rhino horn through blockchain technology. This is their means of creating a distributed database free from corruption, with records able to be verified quickly and easily.
The horn owner gets 54% of the Rhino Coins. This gives them the ability to sell those tokens on the Cornuex exchange for cash. Also, they can choose to retain them in hopes the coin will increase in value over time. The other 46% of the coins are allocated to; administrative costs, building children’s homes and conservation foundations.
Both international and domestic buyers can buy Rhino Coin with South African Rand then trade them on the Cornuex exchange. Currently, their prices are fluctuating due to inconsistencies in the supply and demand of the coin.
Conservation

Did you know that the average lifespan of a white rhino is 40 to 50 years? Help the White Rhino live its life to the fullest when you purchase Rhino Coin! https://t.co/VlIrOWqj4q#rhino #conservation #poaching #rhinocoin #cornuex pic.twitter.com/cyHPXPL5yk
— Rhino Coin (@Rhinocoin_SA) December 3, 2018

Both private Rhino owners in South Africa and government conservation agencies alike feel strongly that legal rhino horn trade could further incentivize rhino conservation.
Be that as it may, many conservation organizations cite a legal sale of elephant ivory from; South Africa, Zimbabwe and Botswana to China and Japan in 2008 as a reason not to sell Rhino horns. Similar to rhino horn; the international ivory trade is forbidden. But in 2008, CITES allowed a highly regulated “one-off sale”.
Despite China rolling out sophisticated safeguards in order to monitor and control ivory from this sale, it was unsuccessful. Several unaccredited stores and ivory-carving workshops popped up in order to take advantage of a freshly renewed consumer demand. However, there was a parallel illegal market that sprung up after this which was almost impossible to control.
Following this deal, elephant poaching and ivory trafficking went through the roof in order to supply these new illegal outlets. By 2011, poachers were killing around 15,000 African elephants on a yearly basis. Consequently, international pressure increased, and China chose to crack down on illegal trade, banning the domestic sale of ivory. Elephant poaching rates have dropped significantly since then.
Regulatory Uncertainty
Some speculators say that as buyers are able to purchase tokens from anywhere in the world; CITES could view Rhino Coin as a form of international horn trade and attempt to regulate it. After all, the treaty’s text regulates all wild species “as well as their derivatives”.
I don’t have a lot to say about Rhino Coin other than it is an attempt to get funding to support a private rhino farmer who is quite a controversial figure, but it’s not really mainstream conservation in any sense of the word. It will probably not demonstrate any traction in financial markets as time goes by
Tom Miliken of TRAFFIC, the wildlife trade research organization.
O Criodain of WWF states he wouldn’t bet on the legalization of rhino horn trade internationally or within China due to powerful global resistance. He followed this by saying Rhino Coin speculators may never see a profit.
On October 30, 2018, China announced; the ban on the use of rhino horn in Traditional Chinese Medicine will soon be over. However, they quickly backed down following a wave of protest from rhino conservation organizations.
On November 12, 2018, China announced; “the detailed regulations for implementation” of the October legal changes had been “postponed after study”, stating that the tight ban on the use and sale of rhino horn is still in place.
The rate at which rhinos are dying in South Africa is on the decline this year due to better anti-poaching measures. There have been reports of several incursions into reserves, and poaching attempts are slowly continuing to rise despite this. This is due to transnational criminal syndicates still maintaining their high demand for the horn. Meanwhile, both government and private stockpiles are steadily growing, which only increases the incentives to sell.
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Dogecoin Merged Mining Tips

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In September 2014, the Dogecoin blockchain saw a hard fork that implemented merged mining with Litecoin and other Scrypt-based cryptocurrencies. Merged mining is a process that allows work (mining) done on one blockchain to be valid on another blockchain. As a result, Dogecoin can be considered an auxiliary blockchain of Litecoin. This merged mining system is often considered to be an ultimate solution to the hash-rate oscillation problem that occurred between Litecoin and Dogecoin mining. In this post, we will be going over some Dogecoin Mining tips.

Merged Mining

To get a better understanding of what merged mining is, I will compare mining to a lottery in which miners are constantly generating new lottery tickets.

If a miners lottery ticket matches the winning number, they will earn a reward. In this case, they will be rewarded an amount of DOGE tokens. Before the implementation of merged mining; DOGE and LTC mining were two separate lotteries, and their tickets were incompatible with one another. Miners could only participate in a single lottery. Once Dogecoin enabled its AuxPoW consensus algorithm, it started accepting tickets from both groups of miners.

This allowed Litecoin miners to generate additional (Dogecoin) tokens without any extra work. Consequently, the hashrate for the Dogecoin network increased tenfold. This is due to the majority of miners on the LTC network enabling merged mining, causing them to mine DOGE as well as LTC.

as #dogecoin approaches its 1-year anniversary, #auxpow (merged mining) has given #shibes new leg room w/ #litecoin pic.twitter.com/QWG1nYDXuj— Tim Swanson (@ofnumbers) November 23, 2014

How Merged Mining Works

You start by assembling a block of transactions for each chain. In this case, that would be Dogecoin and Litecoin. The Dogecoin (auxiliary chain) blockchain includes everything you’d expect from a standard set of transactions. This is also true for the Litecoin block. However, an additional transaction is added with the hash that points towards the Dogecoin block you recently constructed.

After you’ve assembeld your blocks, it’s time to mine. There are several different scenarios that could play out at this point:

You mine a block at Litecoin’s difficulty: You finish mining your Litecoin block and broadcast it to the Litecoin network. As the difficulty level that you mined the Litecoin block is higher than the Dogecoin difficulty, you will also mine a Dogecoin block. This will earn you both mining rewards.You mine a block at Dogecoin’s difficulty: You finish assembling the Dogecoin block by inserting the header and the hash of the Litecoin block. The Dogecoin chain will then accept the block. It is able to recognize the official header for Litecoin and hash as your proof of work. This is because of the development work you did to support this merged mining. You will only receive a Dogecoin reward.You mine a block between Dogecoin and Litecoin’s difficulty: The outcome for this scenario will be the same as the second scenario.

Is it profitable?

When merged mining, every hash you do will contribute to the hashing power of both blockchains entirely. You may have to do a small amount of extra work when generating a work unit, though it’s almost insignificant. Miners will only need to generate a work unit once every couple billion hashes they do.

If you’re merged mining Dogecoin and Litecoin, you won’t be sacrificing your hashing power. You will generate just as many Dogecoins as if you only mined Dogecoins, and on the side; you’ll get just as many Litecoins as if you were only mining Litecoin. There are only 2 negatives of any significance.

The first is that your Litecoin blocks will be bigger than usual as they also include Dogecoin headers. As well as this, you will have to generate new work units each time a new block is completed on either blockchain. This will result in generating work units twice as often which can be a big deal for a big mining pool.

Depending on the two coins you decide to merged mine, it can definitely be lucrative. However, in the case of Dogecoin and Litecoin, the added Dogecoin you will be receiving on the side won’t be as much as you’d expect. 

Conclusion

Dogecoin was not created for speculation, profit or tax evasion purposes. It was created to put a smile on your face and make the world a better place.

Merged mining can definitely be a profitable option. But in the case of Dogecoin and Litecoin, you probably have better options. You can only mine Dogecoin directly on a few mining pools, and even then you’ll be mining at a loss. Since the AuxPoW hard fork to Dogecoin, it’s almost impossible to compete when solo mining. I’ll explain:

9,000,000,000,000 H/s of LTC hashpower through AuxPoW0,000,000,100,000 H/s is a typical CPU / GPU hashrate

Both of these competitors will be chasing the same 10,000 Doge tokens per minute of block rewards and there can only be one winner. At those rates, you have a better chance of winning a lottery. If you want to build up your Dogecoin portfolio, your best bet is to buy low and HODL.

We offer DOGE trading on our cryptocurrency exchange, as well as Litecoin and several other cryptocurrencies. Will you be mining DOGE? Or will you decide to find your own two coins to merged mine? Let us know in the comments below!
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How to buy XRP by Using the iCE3 Cryptocurrency Exchange?

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Many of our users ask us how they can trade and buy XRP on our platform. While we do not list XRP, there are still ways you can use the iCE3X exchange to build up your XRP portfolio or any other altcoin for that matter. In this post, I will demonstrate how this can be done.
What is Ripple? (XRP)
The name “Ripple” often refers to one of three things. This could be either: The company, the currency, or the network.
Ripple Labs is the creator of the Ripple Transactions Protocol (the Ripple Network) and the XRP cryptocurrency token. It is a privately funded company and they launched in 2012.
Ripple aims to provide:
“Secure, instant and nearly free global financial transactions of any size with no chargebacks”
They claim that their token transactions process is mere seconds. Currently, the Ripple network can handle up to 1000 transactions per second.
While all of these claims are reminiscent of Bitcoin, there are key differences. Bitcoin is a decentralized cryptocurrency token. It is a store of value and a means of payment. Ripple, on the other hand, focuses on a single use case. Sending money as fast as information.
Over the past few years, Ripple has been subject to some suspicion due to a few reasons. For one, Ripple is not a decentralized cryptocurrency. The ripple supply decreases over time, and their main focus is the banks and big companies, not consumers. Regardless, there are many ways consumers can buy XRP.
How to buy XRP
Below is a simple and quick step by step guide on how to buy XRP tokens.
Create an account on iCE3X
Go to our cryptocurrency exchange and sign up for an account if you don’t have one already. Signing up for an account and verifying your identity will allow you to purchase Bitcoin with fiat currency.
Purchase Bitcoin
Once you’ve done that, deposit some funds into your iCE3X account and purchase some Bitcoin. You’ll be able to use Bitcoin to trade for any cryptocurrency you desire once you own some.
Find an exchange that has BTC/XRP markets
CoinMarketCap has a great list of cryptocurrency exchanges if you’re looking to sell and buy XRP tokens. With this in mind, when searching for the best option, look for the BTC/XRP pair and sort the ranking by 24-hour volume.
Buy XRP
Once you’ve found an exchange with the XRP price you’d like to pay for, send your bitcoin funds from your iCE3X wallet to the exchange you’re using. From there, you’ll be able to buy XRP tokens to your heart’s content.
Conclusion

The court case may take years. But if XRP is ruled as a security, it would seriously hurt a lot of US users, and to a certain extent, other users around the world too. It certainly doesn't look like a security to me, but that's just one person's opinion.
— CZ Binance (@cz_binance) December 12, 2018

Since the beginning, we have been keeping an eye on the progress XRP is making. We’ve been waiting for more use cases for XRP, and following its user adoption for a while now but until XRP proves itself as more than just a bubble, we will not be adding it to the exchange. If you want to buy XRP, you’re going to have to use another exchange until XRP proves itself to be a currency worth investing in as a consumer.
The post How to buy XRP by Using the iCE3 Cryptocurrency Exchange? appeared first on Cryptocurrency exchange: buy/sell/trade bitcoin & altcoins | iCE3X.

The 12 Days of Christmas – Crypto Style! Your iCE3Xmas! Ho-Ho-Ho!

The post The 12 Days of Christmas – Crypto Style! Your iCE3Xmas! Ho-Ho-Ho! appeared first on Cryptocurrency exchange: buy/sell/trade bitcoin & altcoins | iCE3X.
We are doing our own 12 days of Christmas: 12 days of iCE3Xmas. We will be giving away crypto gift packages to the value of ONE HUNDRED THOUSAND RAND (see our table at the bottom of this post for the breakdown of gifts)

To ENTER simply share our video below

Santa’s iCE3Xmas Crypto Bag
We will be giving away a total of R100 000 worth of cryptocurrency as a token of appreciation to our iCE3X community! No need to write to Santa, all you need to do is share the video! One winner will be selected every day from the 25th of December until the 5th of January, lasting 12 days. On the 10th, all the gifts will be allocated and recipients published.
Users can share our giveaway posts on 3 different social media platforms. These include Facebook, Twitter, and YouTube. Follow us NOW on Facebook or Twitter or subscribe to our YouTube channel so you don’t miss out. Make sure to use the hashtag, #iCE3Xmas, when you share or you could use the content we have prepared below.
Go to Twitter & Tweet the Following:

Celebrate the 12 days of Christmas with the #iCE3Xmas song. More info here: https://ice3x.co.za/12-days-christmas-crypto-style/
Get some amazing #crypto #gifts from @iCE3X. Simply share the video to take part!

Go to Facebook & Share the Following:

Celebrate the 12 days of Christmas with the #iCE3Xmas song – https://youtu.be/6J7Yjv0qQgQ
Get some amazing #crypto #gifts. Simply share the video to take part: https://ice3x.co.za/12-days-christmas-crypto-style/

Go to our YouTube Video & Comment on the Video:
The video is here. Don’t forget to subscribe!
Once our winners are finalized, we will announce who they are and what they won on social media.

DAYTYPEAMOUNT

1TFDPn/a

2ETHZAR 1000

3XMRZAR 1500

4BTC ZAR 2000

5BCHZAR 3750

6DASHZAR 4500

7BTCZAR 5250

8DogeZAR 8000

9NEOZAR 9000

10LitecoinZAR 13000

11ZECZAR 22000

12Your choice of crypto bagZAR 30 000

Countdown
For those of you who can’t help but sing along…
On the first day of Christmas iceCUBED gave to me

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The Legal Stuff

General Giveaway – General Terms and Conditions

You can enter our giveaway as many times as you like. The more you share and post the better chance you stand to win.
You have to use the required hashtag for your Twitter entry to be considered.
If your entry is as a result of a blog post requiring a link back to ice3x.co.za, it will not be valid if the link uses the “nofollow” tag.
Twitter entries are only valid if you have your twitter handle associated with your service desk account. (here is how you do it)
You have to be a verified user on the ice3x.com platform. (NO trading required).
Employees of ICE3.com and related companies or their family members or anyone else connected in any way with the giveaway or helping to set up the giveaway shall not be permitted to enter the giveaway.
There is no entry fee and no purchase necessary to enter this giveaway.
The route to entry for the giveaway and details of how to enter are via https://ice3x.co.za/12-days-christmas-crypto-style/
No further entries to any giveaway will be permitted after the advertised closing date.
No responsibility can be accepted for entries not received for whatever reason.
The promoter reserves the right to cancel or amend the giveaway and these terms and conditions without notice in the event of a catastrophe, war, civil or military disturbance, act of God or any actual or anticipated breach of any applicable law or regulation or any other event outside of the promoter’s control. Any changes to the giveaway will be notified to entrants as soon as possible by the promoter.
The promoter is not responsible for inaccurate prize details supplied to any entrant by any third party connected with this giveaway.
No cash alternative to the prizes will be offered. The prizes are not transferable. Prizes are subject to availability and we reserve the right to substitute any prize with another of equivalent value without giving notice.
Winners will be chosen :
(a) at random from all valid entries received and verified by the Promoter and or its agents; or
(b) as a result of a popular vote conducted via social media sites as measured verified by the Promoter and or its agents; or
(c) by ice3x.com management or judges appointed by www.ice3x.com.
The winner will be notified electronically within 28 days of the closing date. If the winner cannot be contacted or does not claim the prize within 14 days of notification, we reserve the right to withdraw the prize from the winner and pick a replacement winner.
The promoter will notify the winner how, when and where the prize can be collected/claimed/redeemed.
The promoter’s decision in respect of all matters to do with the giveaway will be final and no correspondence will be entered into.
By entering this giveaway, an entrant is indicating his/her agreement to be bound by these terms and conditions.
The giveaway and these terms and conditions will be governed by Isle of Man law and any disputes will be subject to the exclusive jurisdiction of the courts of Isle of Man.
The winner agrees to the use of his/her name and image in any publicity material. Any personal data relating to the winner or any other entrants will be used solely in accordance with current South African data protection legislation (PoPI) and will not be disclosed to a third party without the entrant’s prior consent.
The winner’s name will be available in a winner’s post
Entry into the giveaway will be deemed as acceptance of these terms and conditions.
This promotion is in no way sponsored, endorsed or administered by, or associated with, Facebook, Twitter or any other Social Network. You are providing your information to ice3x.co.za and not to any other party. The information provided will be used in conjunction with the Privacy Policy found at www.ice3x.co.za.

The post The 12 Days of Christmas – Crypto Style! Your iCE3Xmas! Ho-Ho-Ho! appeared first on Cryptocurrency exchange: buy/sell/trade bitcoin & altcoins | iCE3X.

Bitcoin SV Vulnerability: Double Spending Exploit Found?

Bitcoin SV Vulnerability: Double Spending Exploit Found?

The post Bitcoin SV Vulnerability: Double Spending Exploit Found? appeared first on Cryptocurrency exchange: buy/sell/trade bitcoin & altcoins | iCE3X.
It seems Bitcoin Cash SV is facing a wave of bad press. This is due to people questioning Craig Wright’s claims about the security of this token. This is due to a Bitcoin SV vulnerability being found. On the 8th of December, 2018, a video surfaced, showing how a user can double-spend their BSV tokens.
Bitcoin SV Vulnerability

In this video, a user by the alias ‘Reizu’ demonstrates how a double-spending attack can be used on the Bitcoin SV blockchain. One of Bitcoin’s most highly valued propositions (as demonstrated by the Bitcoin whitepaper) was its ability to counteract double-spending attacks.
While the majority of media attention regarding a cryptocurrency attack usually revolves around unknown powers making large-scale attacks, this exploit could potentially be far more detrimental. It doesn’t take a genius programmer to execute a double-spend attack. After showing this exploit to the average user, Reizu even describes it in a blog post for educational purposes. He states the main cause for this Bitcoin SV vulnerability is the coins centralized nature.
How does it work?
The ability to spend the same BSV token(s) twice is easy to understand once you’ve got a basic concept of how the BSV confirmation process works. Both Craig Wright and the BSV dev team pride themselves on the tokens almost instant transaction speed. But this 0-confirmation transaction comes at a cost. Once a block of transactions is complete, the block that follows that one confirms the transactions almost 100% of the time.
Reizu confirms this, stating:
After a few mined blocks I discovered that the transactions that were being mined were those that were sent almost always to the same nodes.
As a result, Reizu was able to send almost unlimited transactions to separate nodes on the Bitcoin SV network. This attack is far worse than a generic double-spending attack.
Then I had an idea.  What if I send each node a unique transaction? Instead of a double-spending, it would be a kind of four-hundred-and-fifty-spending, one for each node of the BSV network. . .
‘Reizu’
Social Outrage
The face of Bitcoin SV, Craig Wright, took to Twitter prior to the attack, claiming that only miners could be capable of this type of attack. However, they will be risking the block reward at a small chance for a small reward.

Following this, many people on Twitter demanded Craig to explain himself as well as the current situation. However, he simply denied all claims by saying there is no evidence, and it can’t be reproduced without giving any technical explanations. After constant spam from people questioning his authenticity, he eventually set his twitter to private.
At the time of writing, there have been no indications that similar attacks are taking place on the Bitcoin (BTC) network. Or at least, they haven’t succeeded.
Conclusion
Bitcoin SV shot it’s way to the top 10 cryptocurrencies in terms of market capitalization. While this could be a mere ‘blip’ in the development of the cryptocurrency, it certainly isn’t a good look. Bitcoin SV grew due to hash wars, and now it’s been found to have vulnerabilities. Was this Satoshi’s Vision? What do you think of this situation? Do you own any BSV? Let us know your thoughts in the comments below!
If you’ve been wondering why iCE3X didn’t list Bitcoin SV on its launch when everyone was asking for it. Now you can see a little bit more the reason why. You can read Token Listing Process on the iCE3X cryptocurrency exchange for more information!
The post Bitcoin SV Vulnerability: Double Spending Exploit Found? appeared first on Cryptocurrency exchange: buy/sell/trade bitcoin & altcoins | iCE3X.

Bitcoin Mining Difficulty Faces Second Largest Drop In History: Are Profits Up?

The post Bitcoin Mining Difficulty Faces Second Largest Drop In History: Are Profits Up? appeared first on Cryptocurrency exchange: buy/sell/trade bitcoin & altcoins | iCE3X.
Bitcoin (BTC) just saw its second largest drop in mining difficulty in history. On Monday, December 3rd, 2018, Bitcoin saw a -15% adjustment to its network difficulty. Bitcoin’s hashing difficulty is usually altered every 2 weeks in order to maintain a consistent 10 minute block time. It was just adjusted for the second time following the beginning of the so-called “crypto winter” starting in mid-November. Since this period, the Bitcoin difficulty for mining has been dropping at a consistent rate.
Bitcoin Mining Difficulty
On October 31st, 2011, the Bitcoin mining difficulty dropped by 18%, the largest drop in Bitcoin’s history. This happened shortly after a 13% decrease in Bitcoin’s mining difficulty just a few days prior (Mid October 2011). The recent network difficulty adjustment came after the recent huge market drop. Following this, Bitcoin shed more than a third of its price since November 14th. Many financial experts say this market collapse is simply due to regulatory pressure. The Hash Wars that followed the Bitcoin Cash fork coupled with the current crypto market environment helped drive prices down.
This decrease in mining difficulty along with FUD and coin devaluations forced many miners to quit mining. In September 2018, Shixing Mao, the CEO of F2Pool, a China-based cryptocurrency mining pool; released some interesting data on crypto mining profitability. He states that the break-even point for mining Bitcoin (BTC) is in the $3,891 – $11,581 range depending on the make and model of the mining equipment. Bitcoin was trading at around $6,400 during the time Shixing Mao made this statement.  In late November 2018, just a week after the price crash that left Bitcoin hanging at $4,300;  many Chinese miners chose to start selling their mining equipment by weight instead of the price per unit.

#Bitcoin just had its second largest drop in mining difficulty in history: -15.1%. This is the current ranking:
2011-nov-01: -18.0%2018-dec-03: -15.1%2011-oct-16: -13.1%2012-dec-27: -11.6%2011-mar-26: -9,5%2013-jan-26: -8.6%2011-dec-01: -8.5%2012-may-25: -9.2%
— Fernando Ulrich (@fernandoulrich) December 3, 2018

State of Bitcoin Mining
As it stands, the Bitcoin asset itself is not directly affected by the bitcoin mining difficulty drop. This is due to the built-in difficulty adjustment feature. Bitcoin mining works by using powerful computer hardware in order to solve complex computational mathematical puzzles. Bitcoin strives to keep the block mining time at 10 minutes, keeping a regular flow of newly minted Bitcoins. The difficulty of these mining equations adjusts around every 2 weeks in order to account for any new or departing miners on the Bitcoin network.
According to Sam Doctor from Fundstrat Global Advisors, this Bitcoin mining difficulty drop pushes the Bitcoin mining break-even price even lower.
Our model suggests the cash cost of mining each BTC on the Antminer S9 is now $4500, down from $5300 in September,” he wrote. The Antminer S9 refers to specialized computer hardware used to mine for bitcoins and other digital assets.
“Depreciation expense has fallen to $1300 vs. $2000 in September, reflecting a lower rig cost as newer devices have come to market. Fully loaded breakeven is now $5700, compared with a breakeven of $7300 in September
Conclusion

The fact that miners are shutting down and difficulty is decreasing is a feature, not a bug, of bitcoin’s design.
— Arianna Simpson (@AriannaSimpson) December 1, 2018

While this may be a welcoming development for hardcore miners, this break-even point for Bitcoin mining is still far higher than the current market price. As a result, we will continue to see smaller players in the mining world continue to leave the fray. But even though this current decreasing trend in Bitcoin mining difficulty remains, Arianna Simpson of Autonomous Partners believes this is a feature, not a bug. She believes the Bitcoin network is simply making adjustments to cater for the recent price volatility. With a lower Bitcoin mining difficulty, it becomes much easier for new miners to join the fray and work towards their first Bitcoin rewards.
What do you think about the state of cryptocurrency mining? Will you be joining the fold to take advantage of the low bitcoin mining difficulty? Or will you be trading instead? Let us know your thoughts and opinions in the comments below!
The post Bitcoin Mining Difficulty Faces Second Largest Drop In History: Are Profits Up? appeared first on Cryptocurrency exchange: buy/sell/trade bitcoin & altcoins | iCE3X.

SAFCOIN Releases! Is it a Scam?

SAFCOIN Releases! Is it a Scam?

The post SAFCOIN Releases! Is it a Scam? appeared first on Cryptocurrency exchange: buy/sell/trade bitcoin & altcoins | iCE3X.
SAFCOIN released this week and there seems to be a lot of suspicion surrounding it. People can’t decide if it’s a cryptocurrency worth investing in, or just another scam. In this post, I will be looking into SAFCOIN and the team behind it.
SAFCOIN Launches!
On December 13, 2018, SAFCOIN launched after the ICO period ended on the 31st of October 2018. Now, everyone that missed out on the ICO is able to get involved.
What an exciting year it has been for us. We are proud to be part of the blockchain and crypto revolution. We are excited to bring the SAFCOIN blockchain, mobile app and exchange to the people of South Africa.
Neil Ferreira, Co-Founder and CEO of the SAFCOIN founding company, FHM (PTY) Ltd.

During the ICO period, many people doubted if SAFCOIN would even launch due to the wave of ICO scams in the crypto space. Inevitably, this makes it difficult for real startups to enter the market successfully.
Claiming they aim to tap into numerous ways crypto can positively impact Africa, Ferreira states:
We are not here to overthrow the existing financial system but rather tap into the numerous benefits of crypto for Africa by developing use case technology for every individual to benefit from the positives of crypto-currency. All whilst maintaining the highest levels of business ethics and standards
But is this suspicion justified? Let’s take a deeper look into some red flags surrounding SAFCOIN.
Red Flags
Now technically, what SAFCOIN is doing isn’t illegal, but it will definitely end in tears. No question. They pre-sold 500,00 SAFCOIN at an ICO for R70 ($4.89), then another 5.5 million tokens will flood the market. Effectively, the market will be flooded with these tokens with no use case, and sellers will eventually drive the price down to zero.
With no mining method except a vague promise that it will eventually come, we can expect 5.5 million pre-mined coins. Effectively, at R88 a token, and a total supply of 6 million tokens; they give themselves a market cap of R528 million without an actual product. This isn’t always a bad thing, not all coins can be mined, but with no personal information on anyone involved with the project, it looks shady.
Taken directly from their website, this is the extent of their team description:
SAFCOIN was created by a group of South African crypto enthusiasts and entrepreneurs with incredible market knowledge of the technical world in programming, networking, online trading and exchange.
As well as this, their whitepaper says nothing with any substance. For example, they refer to their auditor, without actually naming them. This in itself is not a bad thing, and could just be an oversight.

Safcoin scam
And the auditor details ?! pic.twitter.com/xB8nApEFut
— Simon Brown (@SimonPB) July 24, 2018

Red flag 2
Most of both the SAFCOIN whitepaper and website is just bold statements and buzzwords; all without substantial explanations of what SAFCOIN is going to bring to the table. With claims of gradually becoming a widely accepted form of payment without any reason why this may be it becomes clear that SAFCOIN isn’t being genuine. In fact, in reading SAFCOIN whitepaper, it raises more questions than it answers. No wonder they removed the whitepaper from their website.
SAFCOIN seem to constantly apply FOMO (Fear Of Missing Out) techniques in order to gain more popularity. Neil Ferreira uses terms such as ‘missed out opportunity’ and ‘late sleepers’ to encourage South Africans to hop aboard before it’s too late, and “be part of history and wealth”.

At one point, Ferreira stated:
The start-up phase is the most lucrative time to invest in cryptocurrencies, but Africans have missed the boat on many of the global start-up opportunities
He is subtly referencing the Bitcoin rush of 2017 as a missed opportunity to gain massive returns on their investment. Ferreira’s main goal seems to be to encourage Africans to “secure their wealth” by investing in SAFCOIN.
Back-peddling
Highly Respected South African news outlet, the Daily Maverick appeared to have felt duped. They posted a blog post about the ICO for SAFCOIN, claiming it was a promising startup. The tweet promoting the post went live on September 26, 2018 — and due to the backlash from the community claiming SAFCOIN is a scam — they quickly removed the blog post from the website. {be careful when you read sponsored articles}

South Africans get first dibs on SAFCOIN, an exclusive African cryptocurrency https://t.co/VYGCEdmpRr By SAFCOIN pic.twitter.com/WUYXUHIED4
— Daily Maverick (@dailymaverick) September 26, 2018

After suffering a constant barrage from cryptocurrency enthusiasts on Twitter, the SAFCOIN twitter account decided to reply to some backlash. While this practice is common, SAFCOIN may be a bit too emotionally invested with their response.

I am Neil Ferreira creator of SAFCOIN i see you are trying to give us a bad reputation and labelling me as a scam. I am going to say this..we are here to stay we are here for our people SA people WATCH THIS SPACE MY FRIEND YOU ARE GOING TO EAT YOUR WORDS
— SAFCOIN (@SAFCOIN1) July 24, 2018

Conclusion
The entire SAFCOIN project looks like an obstacle course full of confusion and hurdles. We always advise the community to do their own due diligence into any cryptocurrency, else simply stay as far away from it as possible. If you’re looking to invest in something other than Bitcoin, there are many other altcoins that are less risky alternatives such as Cardano, Dash, Litecoin and many more.
The iCE3X cryptocurrency exchange lists 10 different cryptocurrencies, giving our users the freedom to choose which coin they’d like to trade as well as providing a safe and secure on-ramp for more experienced cryptocurrency traders who seek a wider variety of alternative assets.
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