Is Mining Too Complex and Scary? Here’s How to Do It With One-Click

Unless you’re a hardcore crypto enthusiast with intense technical knowledge, it is highly unlikely that you’d know where to start when it comes to mining.

The team behind WinMiner, with a history of over 1 billion installs, is vowing to change all of this. CEO and co-founder Ariel Yarnitsky, the former general manager of the pioneering instant messenger ICQ, and co-founder Idan Feigenbaum, creator of one of the most popular download managers, Download Accelerator, are leading this initiative.

They say their “game changing” product easily enables anyone with a computer to turn spare power into an income and that over 190,000 users around the world are already doing that.

WinMiner says that it is no surprise that mining has been an “off-limits activity” for most. The WinMiner white paper states that “understanding the crypto coins concepts, how to mine and trade them, as well as how to safely keep them is too techy, complex, and even scary.”

It has devised a one-click platform which allows users to mine the most profitable coin  at any time (from a list of over 40 coins) “with no need for any prior knowledge of the crypto space.” WinMiner believes this will be the catalyst for successful adoption by a wide audience.

According to the company, what sets WinMiner apart from most token sale projects is that it is a live and working product with many users, its ease of use, the wide selection of payouts, and the smart optimized multi coin mining algorithm. WinMiner says it signed a pilot agreement with a publicly traded security company, with hundreds of millions of active users to be the onboarding platform for its users into crypto.

The WinMiner token will be the first token sale on the AION network.

Simplicity and familiarity

The team behind WinMiner says that simplicity and familiarity are two key ingredients which are vital for its platform to gain mass appeal. This is why its software is easy to install and to use, ensuring that a beginner can quickly understand what their spare computing power does and achieves. Earnings are in US dollars and “thus do not fluctuate with volatile crypto price movements.”

Payouts are also designed to be straightforward. As well as being able to get paid via crypto or USD, users can receive their earnings in the form of Amazon, iTunes, and Steam gift cards. The minimum balance at which payouts begin is currently set at $5.

WinMiner argues that opening the door to greater numbers of miners will decentralize the mining of supported coins, making the blockchain networks of these coins more stable and secure.

The company believes it is in a position to welcome a wider audience, after enduring the highs and lows of a challenging year for the crypto world – overcoming “traitorous” market conditions, as well as growth and scaling issues to get where they are today.

An array of settings

Although WinMiner takes 1-click to operate, its founders packed into it a wide range of ways for users to customize their experience. By default, the software kicks in whenever a computer goes into idle mode – ensuring that the owners get their full computing resources when they need them. Other modes allow users to manually switch the program on and off when it suits them. An advanced farm mode is also provided for professional miners.

Additionally, users can decide whether they want to pick which coins are mined, or let WinMiner’s smart algorithm make this decision for them. A “switch coin criteria” feature enables users to determine the threshold for moving to a more profitable coin.

A presale for WinMiner tokens, which are the heart of WinMiner’s ecosystem, is taking place until Dec. 31, 2018. Bicameral Ventures fund was the first to contribute with a participation of $1 million. In the second phase, people will be able to participate in the token sale by using the platform – and putting their earnings from mining, into buying the WinMiner tokens with a 40 percent bonus. It is hoped that this will enable people to take part in the event without having to bring their own money into the equation. The third and final phase will be a public sale.

 

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

VeChain Signs MoU for Blockchain Development with Cyprus

Singapore-based blockchain platform VeChain Foundation, U.S. blockchain startup CREAM, and the national investment partner of the Republic of Cyprus, Invest Cyprus, have signed a Memorandum of Understanding (MoU), per a press release published Oct. 26. The MoU is focused on establishing a framework in the field of blockchain technologies and related use cases.

Per the MoU, the parties will work on a number of national level investment strategies, which involve blockchain-powered economies and promote blockchain technology, particularly in financial services. The agreement also aims to inform government policy making in the blockchain industry, in addition to facilitating economic development in Cyprus.

The suggested reforms will purportedly comply with regulatory procedures such as Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements, E.U. law, and other regulations.

In order to complete the designated objectives, VeChain and CREAM will reportedly found a joint venture in Cyprus, that will assist in the development and implementation of blockchain solutions. Michalis P. Michael, Chairman of Invest Cyprus, said that Invest Cyprus sees blockchain “as both transformational and fiscally restorative at the infrastructure level.” Michel added:

“We are investing in the development of the fintech, blockchain sector and we plan to be at the forefront so that we can facilitate investments and economic development in Cyprus and the region.”

In November last year, the Cyprus Securities and Exchange Commission (CySEC) announced its intention to integrate blockchain in its electronic payment system through a partnership with the Blockchain Technology for Algorithmic Regulation and Compliance Association (BARAC).

With the launch of the blockchain-based electronic payment system, consumers are expected to reap several benefits like faster transactions, reduced fees and improved payment transparency.

This summer, VeChain and global logistics provider DB Schenker jointly developed a blockchain-based supplier evaluation system to score DB Schenker’s third-party logistics partners in China. The system will rate partners based on collected data for services such as packaging, transportation, and the quality of goods.

Thai SEC Warns Public About Investing in Nine Unregistered Tokens and ICOs

The Thai Securities and Exchange Commission (SEC) has issued a warning about investing in nine digital tokens and Initial Coin Offerings (ICOs), which have not been accredited by the regulator, news outlet Bangkok Post reported Oct. 26.

The SEC reportedly initiated an investigation into digital tokens and ICOs being promoted on social media platforms for investment, and found nine cases wherein promoted digital assets had not been authorized by the market regulator.

Per the SEC, the alleged digital assets and ICOs have neither filed an application for the SEC’s approval, nor have they met the necessary qualifications and had smart contracts assessed by ICO portals. The SEC said that those who have invested in the alleged assets should be wary of associated investment risks.

The SEC reportedly reiterated a warning about Ponzi schemes that persuade people to invest in digital assets by promising investment returns generated from tokens. “Information disclosure for investment decision-making is also inadequate, while these digital assets might not have sufficient liquidity to trade and cannot be converted into cash,” the regulator added.

In August, the SEC said that almost 50 ICO projects expressed interest in becoming certified following the Finance Ministry’s announcement to introduce ICO regulations. The authorization process takes up to five months as upon submission of an application, the SEC will transfer the document to the Finance Ministry within 90 days. After that, the Ministry has 60 days to make a decision whether to approve a license.

Later that month, the SEC approved seven businesses to conduct cryptocurrency operations as part of the formalization of the country’s domestic market. The move forms part of a package of “transitional” rules governing crypto businesses operating in Thailand prior to the first tranche of regulations that came into force May 14.

The 100-section law defines cryptocurrencies as “digital assets and digital tokens,” and brought them under the regulatory jurisdiction of the SEC. Thai Finance Minister Apisak Tantivorawong reportedly assured that the new measures are not intended to prohibit cryptocurrencies or ICOs.

World’s Largest Crypto Exchange OKEx to Delist 50+ Trading Pairs Due to ‘Weak’ Performance

Major Hong Kong-based cryptocurrency exchange OKEx will delist over 50 trading pairs with weak performance, according to an announcement published Oct. 25.

As per the announcement, at 6:00 am Oct. 31, 2018 CET, the exchange will halt the trading of a swathe of pairs that they cite as having weak liquidity and trading volume. The exchange warned users that they should cancel their orders of the affected pairs from the platform.

OKEx also made a point of noting that it will delist only the indicated trading pairs, but not the tokens themselves.

Andy Cheung, Head of Operations at OKEx, called the move “housekeeping” in a tweet today, Oct. 27, saying about OKEx and other top exchanges: “As leaders, we are responsible for promoting a robust ecosystem […] We need to take action on those underperforming tokens now.”

In a tweet announcing the delisting yesterday, Cheung also noted:

“Getting listed is not final. Maintaining a good performance is the key to success.”

Earlier this month, OKEx announced the listings of four stablecoins at once – TrueUSD (TUSD), USD Coin (USDC), Gemini Dollar (GUSD), and Paxos Standard Token (PAX).

Founded in 2014, OKEx is at press time the world’s largest cryptocurrency exchange in terms of adjusted trading volume, seeing around $402.5 million in trades over the past 24 hours.

We Should Not ‘Scurry to Keep Pace’ With Fintech, Says CFTC Commissioner

A new commissioner at U.S. regulator the Commodity Futures Trading Commission (CFTC) repeated called for handling fintech – including blockchain and cryptocurrency – with an “open mind” in a speech Thursday, Oct. 25.

Speaking at the 2018 International Swaps and Derivatives Association (ISDA) Annual Japan Conference in Tokyo, Rostin Behnam, who has now held the post for a year, revealed he had spent much of that time focusing on issues related to disruptive fintech.

“I am surprised by the amount of time I spent examining issues related to bitcoin, crypto assets, distributed ledger technology (DLT), artificial intelligence, and cloud-based programming,” he told the audience.

Behnam also spoke to the variety of potential use cases for DLT, such as blockchain, listing the range “from agriculture to healthcare, finance to art, CryptoKitties to Dogecoin.”

Calls for fair handling of disruptive technology have also come from regulators of other spaces. As Cointelegraph reported this week, the chairman of the U.S. telecoms regulator defended the need for a “level playing field” for phenomena such as blockchain going forward.

Preempting the importance of such phenomena marks a further key focus for Behnam, who added about his engagement with the crypto, DLT and AI sectors:

“I had no single goal in mind, just a desire to avoid being the typical regulator on the tail end of technological advancement, scurrying to keep pace with swift innovations that capture market efficiencies, open markets to new products and participants, and often reward those willing to take risk.”

Both the CFTC and fellow U.S. regulator the Securities and Exchange Commission (SEC) have increasingly found themselves in the spotlight regarding the cryptocurrency industry this year.

The latter, having rejected a raft of Bitcoin exchange-traded fund (ETF) applications in August, is now communicating with prospective operators who are attempting to iron out the agency’s concerns about their offerings.

‘Pretty Upset’: Coinbase Staff Protest as Company Cuts ‘at Least 15’ Jobs, Say Sources

U.S. cryptocurrency exchange and wallet provider Coinbase has cut “at least” fifteen staff after hiring 250 this year, Yahoo Finance quotes unidentified sources as saying Friday, Oct. 26.

In a curious U-turn following a year of pledges to bolster the number of workers dealing with exploding customer demand, the company confirmed the lay-offs in a statement about its future hiring practices.

“We’ve learned that certain teams who are co-located are more efficient, effective, and happier in their roles,” Yahoo quotes the statement as reading:

“So moving forward, some teams – including Support, Fraud, and Compliance – will only hire employees into Coinbase offices.”

While Coinbase did not officially confirm how many employees had lost their jobs, “insider” sources at the company said the number was not lower than fifteen.

“People here are pretty upset about it, and so far senior leadership is handling communications poorly,” one source told Yahoo.

Coinbase had faced a considerable backlash beginning in 2017 after an influx of users onto its exchange sparked a host of technical and customer support problems. As a result, executives pledged to significantly expand the number of staff available to service customer complaints.

Prior to the dismissals, Coinbase had 500 employees as of September, half of whom had begun work this year.

In October, the company saw a reported valuation of $8 billion ahead of alleged plans to launch an IPO.

Bitcoin Shows New Resilience as Markets Shake off Futures Settlement

Bitcoin futures may have expired, but even that failed to produce volatility in cryptocurrency as markets remained flat Saturday, Oct. 27.

Coin360

Market visualization from Coin360

Data from CoinMarketCap and Coin360 confirm that the end of the trading week – and with it the payment date for CME Group’s Bitcoin futures – had essentially no effect on either Bitcoin (BTC) or altcoin prices.

The behavior marks a stark contrast from just several months ago, with impending futures previously sparking losses in the run-up to their settlement date.

On Friday, Cointelegraph had noted that Bitcoin volatility had hit an 18-month low amid mixed forecasts about the 2018 bear market ending in the short term.

At the same time, commentators have claimed that a surprise uptick could well hit the crypto-economy unannounced, independent of the impact of institutional investors entering the space, something expected in the first half of next year.

For the meantime, BTC/USD remains tightly rangebound, at press time trading at $6,482 and hardly moving over the past 24 hours.

BTC

Bitcoin seven day price chart. Source: CoinMarketCap

The story has broadly repeated across the top twenty altcoins by market cap, altcoin leader Ethereum (ETH) also seeing hardly any up or down activity since Friday.

Support at $200 has held, ETH/USD climbing ever so slightly to hit $204.36 at press time.

ETH

Ethereum seven day price chart. Source: CoinMarketCap

Elsewhere in the top twenty coins, Stellar (XLM) has seen above average movement, down 2.37 percent on the day to press time.

Another exception is 17th ranking coin NEM (XEM), which has seen 2.36 percent losses to trade at $0.09.  

The total market capitalization of all cryptocurrencies has seen almost no change over the past 24 hours, let alone the past week, stagnant at around $209 billion.

Global

Total market capitalization of all cryptos seven day price chart. Source: CoinMarketCap

Crypto Exchange Project, IronX, Raises $22.3 Million Through Private Token Sale

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IronX, a digital asset exchange being developed by Cyprus-based foreign exchange provider IronFX, has reportedly sold 67.6 million tokens during its private sale. This, according to an announcement made on its official Telegram channel.

In total, IronX’s token sale raised approximately $22.3 million.

Cardano (ADA) As Base Currency

The IronX exchange project was announced in June of 2018 as a joint initiative between IronFX and the EmurgoHK Group, a Hong Kong-based business entity contributing to the ongoing development of Cardano (ADA).

Cardano’s native token, ADA, will be used as the base currency for transactions on IronX’s digital asset exchange – which had been added onto IronFX’s foreign exchange (Forex) platform in July of 2018.

According to IronX’s Telegram notice, the companies developing the new crypto asset exchange currently have over 1.2 million users. The large userbase might help in increasing awareness about the new exchange – which could then result in more funds being generated for the project.

In the next fundraising stage, IronX is planning to raise an additional $50 million through a public sale starting on November 1st and ending on December 15th. Those looking to contribute funds for the crypto exchange’s development must invest at least $100.

Crypto-Friendly Jurisdictions

At present, IronX’s management team is looking to obtain regulatory approval to operate in Gibraltar. In September 2018, the IronX team was issued a license to establish a business entity in Estonia.

As most tech enthusiasts would know, Estonia’s government has encouraged its citizens to use and adopt the latest technological innovations. Access to Wifi, or internet, is considered a basic right and is offered as a free service to the nation’s residents.

Estonia is also one of the most crypto-friendly jurisdictions as it was the first European country to consider launching its own national digital currency. However, due to regulatory concerns raised by the European Union, Estonia did not follow through with its plans.

Meanwhile, Gibraltar holds the distinction of being the world’s first jurisdiction to develop a complete legislative framework for blockchain-based digital assets.

Hoskinson: Cardano Will Surpass Bitcoin, Ethereum

Charles Hoskinson, the CEO at IOHK and founder of Cardano, told Finance Magnates that the Cardano platform will introduce a “completely new way of going about things.” Hoskinson also predicted that it will be more widely adopted than Bitcoin (BTC) and Ethereum (ETH) “by February 2019.”

Crypto derivatives trading platform, BitMEX, launched ADA futures in January 2018. Notably, Israel-based Sirin Labs’ blockchain-based smartphone will also be using ADA as its base currency.

EOS Price Analysis – October 29

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EOS Price Analysis – October 29

eos-price-analysis-october-29

Eos, EOSUSD, Cryptocompare chartEOS Chart by TradingView

EOSUSD Price Medium-term Trend: Ranging

Supply zones: $9.00, $10.00, $11.00

Demand zones: $3.00, $2.00, $1.00

EOS continues in a range-bound market in its medium-term outlook. With a high of $5.46 in the supply area and a low of $5.40 at the demand area attained over the weekend, the bears and the bulls remain in contention for control of the market.

The bearish 4-hour opening candle at $5.43 could only push ETHUSD down to $5.41 as the next candle formed a doji.

Ther price is slightly above 10 but below the 50-EMAs with the stochastic oscillator at 40% its signal pointing down which implies a slight downward price movement within the range in the medium-term may occur

EOS is in consolidation and trading between $5.60 in the upper supply area and at $5.35 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower demand area may occur hence patience is required before taking a position with good reversal candles as confirmation either way.

EOSUSD Price Short-term Trend: Ranging

Eos, EOSUSD, Cryptocompare chartEOS Chart by TradingView

EOS continues in consolidation in its short-term outlook. After a brief upward movement to $5.50 in the supply area within the range on 26th October, the bears lost momentum for continuation to the upside. This resulted in the formation of a bearish reversal candle that brought back the bears. EOSUSD was down to $5.40 in the demand area on 27th October but closed as a hammer – an indication of exhaustion.

The bulls return within the range led to EOSUSD up at $5.42 in the supply area earlier today. The price is around the two EMAs and the stochastic oscillator is at 28% with its signal pointing up. It suggests upward price movement within the range in the short-term.

EOSUSD is in consolidation and trading between $5.55 in the upper supply area and at $5.38 in the lower demand area of the range. Traders should be patient at this period and wait for a breakout at the upper supply area or breakdown at the lower demand area before entry.

 

 

 

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

Japanese Exchange Coincheck Recorded $5.25 Million in Q3 2018 Losses

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Previously hacked digital asset trading platform, Coincheck, continues to struggle as it recorded $5.25 million in losses during Q3 2018. Monex Group, a Japanese broker that acquired Coincheck after the hack which led to the theft of $534 million in NEM tokens, reported the losses its financial statement for Q3 on Monday (October 29th).

Coincheck’s operations, which account for Monex Group’s crypto-related business, generated 315 million Japanese yen (appr. $2.8 million) between the months of July and September 2018.

This is 66 percent less compared to Q2 revenue when Coincheck’s operations brought in about $8.4 million in total revenue.

Total losses for Coincheck during Q2 2018 were of about $2.3 million.

Monex Group’s Acquistion Not Profitable So Far

According to the Monex Group, the Q3 losses may be attributed to the consequences of the damaging Coincheck security breach in January of 2018. This, despite operational costs for the group’s crypto business being significantly lower during the third quarter – when compared to previous months.

Monex Group’s financial report noted: “Since the service suspension in January 2018, Coincheck only allowed existing customers to sell their cryptocurrency.” To date, acquiring the compromised Japanese exchange (for $33.5 million in April) has led to losses of around $7.5 million.

In response to the Coincheck hack, Japan’s financial regulator, the Financial Service Agency (FSA), began to monitor the operations of local crypto firms more closely. In 2018, the FSA has performed over 23 on-site inspections of local digital asset exchanges.

160 New Crypto Exchnages Want To Operate In Japan

As covered, 160 crypto exchanges had submitted an application to the FSA in order to offer their services in Japan. However, the FSA has not authorized any new crypto-related businesses to operate in the country this year.

There are currently 16 crypto exchanges licensed to operate in Japan, while another 16 have also been allowed to offer services, but are only “quasi-operators” as their license applications are still being reviewed by the FSA.

Coincheck reportedly has 1.7 million active users and its management is currently developing better internal security infrastructure, and working on implementing other measures to make its platform more secure – as this is now required in order to become a fully-licensed exchange in Japan.

Monex’s financial report also noted that it has 1,025 full-time employees with around 15 percent of them working in its crypto asset department.