sqr

Squire joins hands with Ennoconn to manufacture next-generation mining rigs

Squire, Canada based Cryptocurrency mining infrastructure developer has partnered with Ennoconn Corporation to manufacture the next generation of mining systems for prominent Cryptocurrencies. This partnership will facilitate the launch of the company’s mining business further.

Ennoconn majority shareholder is Foxconn Technology Group which is the largest electronic manufacturing service that will add its expertise and experience and help Squire reach new heights and will make itself as one of the leading Crypto mining hardware providers in the industry.  This electronic giant will assist in the designing and assembly of Squire’s next-generation mining rigs when the working prototype of the ASIC (Applicable Specific Integrated Circuit) Chip is done.

The new ASIC chip and mining system will help reduce the operational costs of mining rigs by up to 40 percent in enterprise mining facilities. Therefore the cost reduction would be worth $60 million every year. ASIC chip and the mining system when put together will provide up to four times improvement in the performance of mining facilities.

The new mining system in the partnership will be used for mining Bitcoin, Bitcoin cash and other associated Cryptocurrencies.

About Ennoconn:-

Ennoconn is one of the world’s leading electronic manufacturing companies. It is one of the prominent industrial motherboard designers. It is based out of Taipei, Taiwan which provides a total hardware system solution.

About Squire Mining:-

Squire is a Canadian based company engaged in the business of developing data mining infrastructure and system technology to support global Blockchain applications in the mining space including applicable specific integrated circuit (ASIC) chips and next-generation mining rigs to mine Bitcoin Cash, Bitcoin and other associated Cryptocurrencies.

For the development of AraSystem Technology mining rigs, Squire mining engineers are working with Ennoconn. AeroSystems is a subsidiary of Squire mining and will host the debut ASIC chip.

crypto

CRYPTOCURRENCY MARKET SHOWS STRONG SIGNS OF RECOVERY AS BITCOIN PRICE GOES UP BY $400 IN ONE HOUR

Bitcoin has experienced a sudden price hike in the gap of two days, the price raised to $400 in an hour to take the bitcoin value close to $7,000. Other major cryptocurrency – including Ethereum, ripple and bitcoin cash – mirrored the fortunes of bitcoin, with gains across the cryptocurrency market of between 5 and 15 per cent over the last 24 hours.

The turn-around follows months of steadily declining prices that have been punctuated by very few gains since the highs of 2017. The current price of $6,500 is only one third of bitcoin peak, which reached close to $20,000 in December. Cryptocurrency analysts suggest the recent price rises may hint at a wider recovery for cryptocurrencies, as more than half of virtual currencies experienced gains for the first time since May.

“While the total volume [traded] has dropped once again, this is the first week in a month that over half of the coin prices have increased,” Fred Schebesta, co-founder of personal finance firm Finder, said in a local-newspaper.  “With 51 per cent of coins increasing in price, we may be seeing an end to the recent bearish trend.”

The price reversal follows recent good news in the cryptocurrency space, which has included the lifting of a ban on adverts on Facebook and predictions from a major bank that interest in the industry is set to double. Dutch banking giant ING published a consumer economic report last week that revealed 16 per cent of Europeans expect to own cryptocurrency in the future.

A survey of nearly 15,000 people across the continent suggests a gradual shift in attitude towards cryptocurrencies like bitcoin and Ethereum. “Cryptocurrency remains an abstract investment for many, but there may be more appetite for digital currencies than some might suggest,” Jessica Exton, a behavioural scientist at ING, said at the time

“Based on a survey, ownership of cryptocurrency could more than double in the future – although we do not know when.”

The increase in adoption is likely to come when cryptocurrencies find use as actual currencies, rather than just speculative investments. One of the major stumbling blocks towards becoming a viable exchange of value, however, is their volatility.

Significant gains like those experienced over the last two days are therefore unlikely to speed up bitcoin mass adoption.

 

kodak

Kodak’s Blockchain Platform to Increase $50 Million in token offering

KODAKOne is a blockchain-based system produced by Wenn Digital, intended to look after the copyright of images or photographs recorded on the platform. Kodak holds a smaller stake in Wenn Digital and has promoted from that location, reports Reuters. The presentation of its stock has enhanced knowingly as depositors expect the growth of the blockchain platform will turn into a gainful venture once it is set and running.

Bonds of the company have skipped from its early 2018 lows around $3 to as high as $11.55 when Kodak announced the deal with Wenn Digital. It rapidly lost two-thirds of its market value on the update that the token proposing, which was planned for January, would be postponed. Lastly, the initial coin offering (ICO) of KODAKCo in is due to take place on May 21. The January mistake was caused by governing problems that have since been taken care of.

Cam Chell, co-founder, and chair of KODAKOne expressed Reuters in an interview that the token contribution will observe with the U.S. Securities and Exchange Commission (SEC). KODAKOne will use Simple Agreement for Future Tokens (SAFT), an asset agreement accessible by cryptocurrency designers to accredited depositors. Being a security, SAFT must obey with securities regulations, which needs the token to be delivered when the blockchain platform is launched.

The SEC supports the exercise because it gets these SAFTs as being operated like retreats without following to any of the firm rules that previously exist for that market. Token sales convert viable under the SEC regulation with the SAFT structure since contribution is partial to attributed investors.

KODAKOne is expected to be launched later this year, according to Cam Chell. A pre-sale of its SAFT to credited investors led by Wenn Digital upraised about $10 million. The company wants $20 million to be able to effectively grow and launch the blockchain platform, but Chell declares ‘$50 million is our sweet spot’ as the business objects advanced.

ripple xrp

Ripple (XRP) and Litecoin (LTC) Down – Upside Ahead?

Ripple and Litecoin is not much going on in the cryptocurrency world. Currently, the entire market is sitting just over $430 billion with $22 billion in trading volume within the last 24 hours. The only news currently circulating that remains unsurprising to most is that Bill Gates and Warren Buffett are still slamming cryptocurrency. Let’s be real here, their wealth can’t be denied, but the two are clearly stuck in their traditional ways. Mr. Buffett was CLEARLY wrong about his initial assumptions of Amazon and Google and has even said so himself. The “FUD” has simmered off after the twentieth comment the pair has made and it seems their opinions have now zero effect on investor confidence.

Let’s take a closer look at a pair of coins just under the green this morning and their latest updates.

The Ripple coin is also known as XRP. There are no new developments regarding the class-action lawsuit filed against Ripple (XRP) Labs. Since these things take a considerable amount of time, I don’t expect to hear much anytime soon; especially since the SEC ultimately decides the lawsuit’s outcome.

The team behind Ripple seem unphased by the lawsuit as this week they are holding YPO Innovation Week at their headquarters.

Ripple’s CEO, Brad Garling house, spoke at the event and said:

“At its core Ripple is a technology company leveraging digital assets to solve a global payments problem. We believe payments are foundational to any use case so we’re starting there.”

The Litecoin is also know as (LTC). Litecoin Foundation is embarked on a new campaign to expand their reach and influence. #PayWithLitecoin and #LiteCoinAcceptedHere are flooding Twitter lately. The goal behind the latest campaign is to inspire businesses to accept Litecoin into their day-to-day operations.

Litecoin enthusiast Jon Moore even put together a mock-up for local businesses in his area to integrate Litecoin payment.

cryptocurrency/Bitcoinnewsboards

All plus and minus in cryptoworld, worldwide.

What is happening in the cryptoworld currently? As on writing (25th January 2018), the followings positives and negatives are noted-

Positives:

  • Cryptocurrency signs its first sponsorship deal with Team Arsenal: Arsenal has signed a sponsorship deal with the US cryptocurrency CashBet. It which plans to raise between $40 million and $70 million from the sale of CashBet Coins tokens in its ICO, uses Arsenal’s crest and player’s images on its website and the club describes CashBet as its “first official cryptocurrency partner”in this cryptoworld.
  • Cryptocurrencies received its first credit rating: The Weiss Ratings agency, one of the oldest professional and financial grading services in the US, released its much-anticipated cryptocurrency ratings today. The securities rating firm is the first to give a rating to cryptocurrencies.Weiss Rating has ranked Ethereum as “better” than bitcoin, as well as the EOS coin, in its first cryptocurrency ratings. Bitcoin received a C+ rating from the firm, while Ethereum’s B rating was received due to the fact it benefits from more readily upgradeable technology, with a development team moving fast on it, as well as better speeds. The third-largest cryptocurrency Ripple only managed to receive a rating of C, despite its partnerships with big global financial institutions.
  • South Korea proposes to start real-name trading of cryptocurrency: South Korea plans to require local banks to launch a real-name system for cryptocurrency trading that will require the up-to-now anonymous transactions be traceable as the country seeks to curb speculation and criminal activities.

Negatives:

  • US charges cryptocurrency creators over $6 million scam: US regulators are making good on their promise to get tough on crypto fraud. The Commodity Futures Trading Commission has filed complaints charging My Big Coin Pay and two of its operators, Randall Crater and Mark Gillespie, with using the company’s My Big Coin cryptocurrency as part of an ongoing, not-so-subtle Ponzi scheme. Continued crackdowns like this might deter some perpetrators, but it may be hard to completely eliminate as long as cryptocurrency values are through the roof.
  • South Africa banning crypto trading accounts of foreigners: South Korea’s financial regulators set the pace for sweeping cryptocurrency regulations to curb speculative overheating and illegal activity on Tuesday, including banning foreigners and minors from opening new cryptocurrency accounts.
Cryptocurrencies/bitcoinnewsboards

What is Canada’s say on cryptocurrency?

In Canada, cryptocurrencies can essentially be treated as money, a commodity, or even income. This makes things quite difficult. According to a report by a law firm, the current regulations on cryptocurrencies are not enough and people are struggling to figure out how they should be reporting these transactions.

At the World Economic Forum in Davos, Canadian Finance Minister Bill Morneau said his country isn’t planning on making changes to existing tax code to deal with cryptocurrencies. Rather, the main focus will continue to be on “making sure that we understand what’s going on underneath that market, to make sure that we aren’t introducing any risks into our economy, whether they be risks like money laundering or terrorist financing.”

Right there, in Canada, decade-old tax rules with no specific provisions for cryptocurrencies are being applied to a fast-changing online technology that presents its own complications. The existing system generally considers Bitcoin a commodity, and profits can be either a capital gain (half of which is taxed) or fully taxable income, like a salary. Really, it depends on the facts and circumstances of a particular taxpayer.

On the other hand, the Canadian governor warns people to stay away from virtual currencies saying, “Buyers should beware, it’s much closer to gambling than investing.” He said regulations will eventually come and they will be developing regulations around this space in due course while they’re being careful to do here is to not stifle innovation.

Read the talks with Poloz here: http://blocktribune.com/bank-canada-head-will-regulate-cryptocurrency/

Meanwhile, news like these are running the errands: Fried chicken chain KFC Canada is accepting bitcoin – for a limited time and for a cryptocurrency-themed bucket of chicken, that is. The limited-time marketing move sees the Canada-based chain advertising “The Bitcoin Bucket” complete with a Facebook-based live-tracker of the standing price for the product, which works out to roughly 20 Canadian dollars depending on the exchange rate with bitcoin.

Also, the Canadian government has launched a trial to explore the use of blockchain technology in making government research grant and funding information more transparent to the public.

It has been noted that Canada may soon be able to count itself among the world’s prime cryptocurrency mining destinations. Canada might be able to solve Bitcoin’s energy problem, as cryptocurrency mining becomes more prevalent, mining operations increasingly use more energy.

Let us wait to watch the picture of Canada with cryptocurrencies.

Blockchain/bitcoinnewsboards

Social Media Platforms can be Decentralized with Blockchain

 Blockchain technology can successfully eradicate the middlemen from the equation. Moreover, the users themselves will maintain access to their data at all times, which fine value is considering into. There is no longer a necessity for centralized servers or firm CEOs. Instead, social media will, once again, be a tool for the people, by the people. It noises like an ideal vision, but such a decentralized social network may not be too far off.

Some entity all of the huge social platforms have in common is by what means they gather data. To many of users, that is apparently not a bit tricky. Though, this data comes in the hand of a select few entities who can access this data. Besides, the information is used to generate digital outlines of all users to deliver them with the “best” paid content. It is an interesting trade which works well but also obtains a lot of criticism. No one must own this type of data completely and in a unified way.

One of the schemes accepting the blockchain-based social platform business model is Matchpool . Their decentralized matchmaking generates pools of users with mutual interests. Furthermore, pool inventers can monetize their groups in different ways as they see fit. This plan also has its particular native currency identified as Guppy. This token can be received and spent by networking with this new social platform. All expenses take place on the blockchain without interruptions or mediators.

There are other platforms which use alike perception as of right now. Decentralized social media compromises a lot of keys, even though it may not be all that suitable to use in its existing form. We may even see current giants shift to a blockchain-based model in the upcoming years. Telegram is creating powerful strides in this regard, while they use a private blockchain. A decentralized version of Twitter and Facebook is approximately everyone can look advancing.