The Laws are Unjust

As we’ve seen over the many years that this rag has been written (and beyond) companies who are able to fund whole teams dedicated to data security have been wholly ineffective at storing that data safely.

With the passage of this new law EU officials are actively putting citizens in harm’s way by irresponsibly trying to force bitcoin users to collect and store each other’s data. This is if you believe that is the actual intention behind this move.

In reality, this move likely serves as a pure intimidation tactic to coerce people to use trusted third parties when transacting with bitcoin.

A heavy handed shove into easily controlled vectors. If too many users are in control of their own private keys, run their own nodes, and are up to date on best privacy practices when transacting it is much harder to stop bitcoin.

And make no mistake, these people want to stop bitcoin at all costs.

They do not want you to be free.

They are quickly losing their grasp of control on the populace and they are moving as quickly as possible to clamp down in an attempt to retain control.

You are not meant to have privacy in their eyes. You are inherently a criminal in their eyes. These people think you are disgusting cattle who needs to be led at every turn.

It does not have to be this way. You do not have to succumb to the madness of these people. All it takes are a few decisions.


Speak up!

Act!

Disobey!


There is a silent majority out there who knows this type of attempted control is inherently wrong.


It is anti-human!

It is evil!


This silent majority needs to begin developing the courage to speak up.

Call out the abject insanity of allowing unelected institutions like the Financial Action Task Force write freedom restricting guidelines that get adopted by governments like the EU.

Learn how to run your own node, how to produce your own private/public key pairs, and how to destroy chain analysis heuristics with privacy best practices.


Make the tyrant’s job as hard as possible!

Disobey!


Stand up and defend freedom in the Digital Age by actively defying their unjust laws.


“If a law is unjust, a man is not only right to disobey it, he obligated to do so.”


It is your duty as an individual to disobey these incredibly invasive and tyrannical “laws”.

If you don’t disobey your progeny may not have the opportunity to. The time to counter punch is right now. Get on it.


Source: https://tftc.io/








The monetary properties of Bitcoin


bitcoin vs gold

bitcoin vs fiat

Bitcoin is a monetary good — a new form of money. As Bitcoin is a money, it must be compared to other monies to consider the comparative advantages of Bitcoin and from that consider further the probabilities of Bitcoin winning ground or not in the competition between monies.

Brief summarization of the monetary properties

Summarization of the monetary properties of Bitcoin compared to precious metals and fiat currencies

As the exhibit above showcases, Bitcoin offers many different distinct and compelling competitive advantages to the alternatives.

These include, but are not limited to:

1. Bitcoin is the first asset in the human history to provide any holder a very sure case of unseizability and censorship- and judgment-resistance for their funds.

Unseizability: With precious metals and fiat currencies, the custodianship is mostly in the hands of trusted custodians that is subject to any intervention by a government or authority.

Bitcoin, with self-custody being orders of magnitude easier than with precious metals and fiat currencies, and access to the corresponding private key of funds being the sole way to access and move funds, no one can seize your bitcoins.

Censorship- and judgment resistance: With precious metals and fiat currencies, the payment clearing for small value transactions can with not much hassle be somewhat censorship resistant if the involved parties are willing to transact in the physical units of precious metals and fiat currencies and to self-custody the funds going forward.

However, with non-small value transactions it is exceedingly inconvenient and costly for transactions of precious metals and fiat currencies to happen in the offline, with physical units and self-custody going forward, leaving the centralized intermediaries as the only option and these are subject to any intervention by a government or authority.

Bitcoin, with the payment clearing involving no centralized intermediaries but instead a decentralized and distributed setup requiring no AML/KYC, the result is that of a the payment clearing process being permissionless, allowing anyone with cryptographic access to funds to move them at their will.

2. Bitcoin provides an inherently apolitical global monetary unit. It is truly border-less, with no recognition of any jurisdictional rules and laws, allowing the jurisdiction of a counterpart in any transaction to be of no relevance.

◦ Fiat currencies are highly political and precious metals are less political than fiat currencies, but still much more political than Bitcoin.

◦ Bitcoin is truly border-less: any bitcoin funds can be accessed anywhere on the planet by having access to information that can even be stored inside a human brain and reliably retrieved at small effort — and, crucially, with no intermediary and no permission required the bitcoin funds can be moved to anywhere in the world with final settlement in the next block.

3. Bitcoin provides scarcity and salability through time characteristics vastly superior to any other monetary options, including fiat currencies and precious metals.

◦ The non-discretionary monetary policy of the bitcoin networking allowing for the asymptotic money supply* of 21 million BTC is built into the literal definition of the protocol. This is a drastic contrast to the arbitrary scarcity of fiat currencies governed by politics.

The scarcity of precious metals is much better than fiat currencies, but Bitcoin with the strictly fixed money supply outperforms any precious metal.

Bitcoin provides any holder a reassurance stronger than any other asset in the world that their ownership stake in the total quantity of Bitcoin on the market will never diluted.

One BTC of 21 million will always be one BTC of 21 million.

◦ Bitcoins are infinitely durable, impossible to counterfeit or dilute, can be stored at no cost and at no degradation.


* By inventing Bitcoin, Satoshi Nakamoto created the first example of a digital good (in this case, monetary good) that is impossible to reproduce ad infinitum, thereby creating the first instance of human history of digital scarcity.

Less talked about it, but perhaps more important, Satoshi Nakamoto with Bitcoin also created the first example of a good being absolute scarce.

Previously, any consideration of scarcity of a good was relative. Any physical good is never absolutely scarce, onlyrelatively scarce when compared to other goods — simply because any limit on a physical goods is a function of the time and human effort put towards producing the good.

Bitcoin, with the asymptotic monetary supply built into the protocol, is therefore the first example of absolute scarcity in a liquid commodity and good that cannot have its fixed quantity of supply increased.


People’s Money

Power to the People

The seed has been planted
Make it Thrive !!!

Choose

Veritas non Auctoritas …

Choose Wisely




Veritas … In pictures…



Gold is Money…

Uni-Verse

Success



Genes that erase memories

Researches can erase painful memories from the brain


Pokemon Go users give away all privacy rights




Compounding Interest






Play the role of a fool…

Occult – Anatomy

20 Fastest Growing + Declining Jobs

Causes and Effects of Inflation

The History of Logistics

SSG 16.9 – Legal Identity for all

Scientists call for Protection from Non-Ionizing Electromagnetic Field Exposure

Protest’s are Illegal and punished with Jail Time in a “Free” Society !!!?¿!!!

Human Value Chain

Opposition to the use of Blockchain Identity – Part 1

Opposition to the use of Blockchain Identity – Part 2

Human Capital Performance Bond

Strategies for Investing in Undervalued Human Capital

U.S Army TRADOC G-2

Digitizing Government-to-Person (G2P) Payments

Will be Always Updated !!!


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Kasparov: Crypto means Freedom

Garry Kasparov: Crypto Means Freedom

The chess grandmaster expects a basket of coins to replace the dollar within a decade.

Garry Kasparov (Mark Wilson/Getty Images)

Garry Kasparov knows math. He knows logic, strategy and decision-making. Widely regarded as the greatest chess player in the history of mankind, the Russian grandmaster – ranked No. 1 from 1984 to 2005 – sees the world with a certain clarity.

So it will delight many in the blockchain industry to learn that Kasparov, easily one of the smartest people alive, is now a champion of cryptocurrency. And it’s partly because of math. Kasparov has spent his “retirement” opposing Russian President Vladimir Putin (a defiance that once got him tossed in jail), fighting for humanitarian causes and serving as chairman of the Human Rights Foundation (a nonprofit that strongly supports bitcoin as a freedom-giving tool). Now he views crypto as a way to check government power. Bitcoin offers protection against rampant government spending, says Kasparov, “because you’re protected by math” – by the logic of the code itself.

Kasparov also sees merit in non-fungible tokens. In December, in partnership with 1Kind, he dropped a series of 32 NFTs that showcase iconic moments from his life: the 1985 match that crowned him as the youngest world chess champion, the epic battle against International Business Machines’ artificial intelligence-powered “Deep Blue” and speeches against totalitarian governments.

It’s this battle against totalitarianism that has defined the current chapter of his life, and Kasparov sees crypto as part of that struggle. Or as the grandmaster puts it, “I believe that supporting crypto is an important part of my contribution to the future of humanity.”

CoinDesk: How’d you get into the crypto space?

Kasparov: If you followed my career and read about my early interest in computers and technology, you should not be surprised that I was very excited when I recognized the value of cryptocurrencies and NFTs.

This goes all the way back to the ‘80s; I always tried to be at the cutting edge. It started with chess. But I also saw an opportunity to use computers and new tools to advance individual freedoms. It’s my belief that technology should help people fight back against the power of the state.

How do cryptocurrencies fit into that?

Cryptocurrencies become an inseparable part of or progress, because the whole world is moving digital.

And if the economy becomes more digital, so does the money. Another philosophical reason is that … governments [have] unlimited opportunities to print money. And printing money is the most exquisite form of borrowing from us and from future generations.

And I believe that cryptocurrencies – with bitcoin as a standard – offer a protection against this onslaught of the government, because you’re protected by math. You’re protected by the limited number of any code behind the respective currency. Cryptocurrencies, and all the products related to cryptocurrencies, are absolutely vital for the future development of our world.

How, specifically, did you first get involved?

My first indirect involvement was through the Human Rights Foundation. Because in the Human Rights Foundation, we had a few experts that have been advocating cryptocurrencies at a very early stage. And as an organization, we offer support to the dissidents around the world.

We thought about using crypto as a way to help them to get material help, because in many countries it was impossible – and it’s still impossible – to actually get proper funding. So crypto offered an opportunity to support these activists indirectly. And the more I learned about it, the more interested I got in the whole mechanism.

Can you elaborate on why this is important to you?

Look, crypto is a controversial thing. Because you hear a lot of people say, “Oh, that’s money laundering. That helps bad guys.” True. I mean, no technology is uniquely good, because it’s technology. Humans still have a monopoly for evil.

So, I’ve been doing a lot of talks about it, and I’ll say, “Look, it’s not the magic wand or the terminator. It’s not a harbinger of utopia or dystopia. It’s a tool.” Crypto is a tool. And of course it could benefit some bad guys with maligned intentions. But it’s about the balance, it’s about trade-offs. And I think the balance is so much in favor of progress.It’s like the dot-com bubble. 99.9% will be gone. But those that survive will become the Googles of the world.

You mentioned crypto’s ability to help protect human rights in undemocratic countries. What do you see as the benefits in democratic countries?

In the democratic countries in America and Europe, trillions of dollars will be printed. I’m an American taxpayer. And I understand that you need to build new infrastructure. But I’m not happy to see that the government has a free hand to use my taxes, basically to devalue [the dollar].

So I think it’s very important that technology would offer me an opportunity to fight back, to protect my hard-earned fortune. And I think that bitcoin – which I believe is online gold – and other cryptocurrencies are the way to the future. I’m not a financial expert, but I would not be surprised if, I would not be surprised if, in 10 years’ time, the dollar will be replaced by the basket of coins as a standard.

I’m guessing it’s safe to say you own bitcoin?

I’m a great believer in the future of coins.

I suppose if you believe that, then it would almost be foolish not to be buying Bitcoin?

Yes.

Thoughts on the future of bitcoin?

Well, I think bitcoin will remain as a standard. But of course it cannot stay alone. So that’s why you have more coins coming in. It’s a natural process. Now we have thousands and thousands of coins. It’s like the dot-com bubble. Ninety-nine point nine percent will be gone. But those that survive will become the Googles of the world. I’m not here to judge which one, but there will be few that will survive – that’s why I said basket of coins.

In the past, your championing of human rights has gotten you in trouble with the Russian authorities. Given that background, are you concerned that your support for cryptocurrency can get you in hot water?

Well, this is definitely a no. [In the past,] I was in hot water. To give you an idea, one of the NFTs is a picture of my first arrest in Russia. So it’s all reflected in my NFT. Look, this is much less perilous than to attack Putin directly.

I grew up in the Soviet Union, and learned from my mother and my teacher the motto of Soviet dissidents, “Do what you must, and so be it.” And I believe that supporting crypto is an important part of my contribution to the future of humanity. And, again, I [view it] as a much less risky endeavor than speaking publicly about Putin or other dictators.

How would you describe your NFT project?

I don’t pretend to be a great expert in NFTs, but I’m not aware of anything similar that exists. It’s a collection of 30-plus NFTs that are related to special events in my life and special people in my life. This is a story that connects you to very personal moments. Every NFT has a video message.

It’s all connected to the physical assets, like my notebooks from the ‘70s. Thanks to my late mother, who preserved this archive, you can actually look at me scribbling in 1973.

The NFTs all reflect the moments of me growing up, learning from my mother, and from my teachers, and then fighting for the title, and then shifting my life and moving into human rights and computers.

Interesting. This feels almost like a memoir, in a sense. I’ve worked with CEOs before to collaborate on their memoirs, and one thing I’ve found is that the process can almost be emotional, or even a bit therapeutic. Did you have any sense of that?

The whole story starts from a very emotional moment, though it’s a tragic one. My mother died on Christmas day last year, from COVID. And I couldn’t be next to her, and that was a really big blow because we were so close.

While she was alive, I didn’t even know that she preserved all these archives. She was not happy to talk about the past. That’s why I [held off] on any major publication that would highlight [the past]. I wrote two books, but not the one that could tell everything.

After she died, I thought it would be right for me [to honor] her memory to actually start doing things. I’m doing a documentary now; it’s in Russian. The first segment will be ready early next year. And I hope I can cover my entire chess career, and it’s for her. It’s dedicated for her. And this [NFT] project was inspired by this tragedy. I thought it was very important to show my personal life and her connection, and why she was so important.


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What bitcoin is … NOT

Bitcoin is not Abracadabra…
but Bitcoin can be Avada Kedavra for the current Banking system!

Bitcoin is not Magic…
but it can be for Muggles!

Bitcoin is not an “Investment” …
but educating yourself about bitcoin can be!

Bitcoin is not an “Investment”…
but knowing  the basics and being educated about it, lowers the chances of loosing your hard earned money!

Bitcoin is not an “Investment”…
but staking Sats proved to be a preety good Strategy in the Long Term!

Bitcoin is not digital money…
but it’s ons of it’s first applications!

Bitcoin is not money…
but is Money for the Internet!

Bitcoin is not PRICE !!!

Bitcoin is not PRICE…
but the market is driven mostly by FUD & FOMO people

Fear
Uncertainty
Doubt

bring the market Down


Fear
Of
Missing
Out

bring the market Up

Bitcoin is not a “Get Rich Quick Scheme” and the one’s that got rich were the one’s that were there from the begining…

Bitcoin is not voodoo people, magic people…
but a bunch of smart geeks & nerds that support the bitcoin’s philosophy and what it stands for…

Bitcoin is not under no juridstiction…
but it is a global p2p network of like-minded people that with the power of their equipment sustain, mantain and make the bitcoin network stronger and more decentralized!

Bitcoin is not a Coin…
but an entry in a digital ledger!

Bitcoin is not illegal activity money…
but bitcoin can be used in such activity…
Reports show that FIAT is still the No. #1 choice for “Evil Doers” as it doens’t have an public, open and visible ledger …
Duh…

Bitcoin is not evil…
but bitcoin can be used to do evil!
As does a Pen!
It can be used to do evil!
How, you would ask?
If  I take this ✏ and stick it up your a… who is Evil ?!?
The One who invented the pen?
The Pen?
Me?
Your a.. cause it was in the way 🤣
Perspective is a matter of opinion…

Bitcoin is not News…
but instead read pools, github, exchanges, wallets…
They are the ones that pave the way where bitcoin could, should or would go!

Bitcoin is not DEAD…
It was already declared Dead 441 times!

see :

https://99bitcoins.com/bitcoin-obituaries/

Bitcoin is not …
Yapidi Yapidi Yap people…

If someone says :

1 – Bitcoin consumes too much electricity, they don’t understand POW!

2 – Bitcoin isn’t a government backed currency, you should ask who backs their government…
If the answer is the Army…

3 – Bitcoin isn’t backed by gold like the the US$…
Neither is the $ since ’71

4 – Bitcoin isn’t real because I can’t see it…
80% of world’s money is Digital…

5 – Bitcoin isn’t a store of value as good as Gold is…
Gold had thousands of years to prove that, bitcoin only 13… give it time!
It already proved a lot !!!

6 – Bitcoin’s inventor is annonymous and can’t be trusted…
Who invented money then? How do money come up into existance?

7 – Bitcoin will never be largely accepted because it isn’t issued by a government…
You know what else wasn’t issued by no government ? Cars, Electricity, Steam Engine, Facebook, Uber, Google, Amazon, etc bla bla bla

8 – Bitcoin can’t be a currency cause I can’t buy anything with it…
I think I have shared a list with places that you can buy things with bitcoin…Quite a few!!!

9 – Whales… Beware of yapidi yap of whales cause they say one and do the opposite 🙂 😉 !!!

9 – Bitcoin is not this, bitcoin is not that but they all swarm around the bee’s honeypot as if it were honey 🤣🤣🤣

I forgot…In the meantime, little unsignificant countries like El Salvador, mine bitcoin with 🌋 !!!

And still newspapers, investors that bite their whatever not having invested when it was under $1, and a hole portion of the world are all saying…

Etc bla bla bla Yapidi Yapidi Yap


Never Forget The Golden Rules:

Not Your Keys, Not Your Crypto!!!

Don’t Trust, Verify!!!

Don’t Believe, Do your own Resesearch and due diligence!!!

Save your Wallet’s Mnemonic Phrase in at least 3 places for safe-keeping!!!


WE ARE SATOSHI


When you’re ready…

Timothy C. May

Hal Finney

Poem of the Legacy

From the ashes of the long forgotten past,
A bright mind wrote a code that would for ever last…
A code so powerful and strong,
That would change the world for oh so long…

The code he wrote and set it free,
For the humankind legacy to be…
To change the lives of future generations to come,
He wrote the code and he was gone…

Oh, bright mind your legacy will last,
For generations to come and be thankful about the past…
Nobody knows who you might be,
Some do and say Kudos to You for Ethernity!


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BitHouse with 💚

Happy 13th BirthDay bitcoin

bitcoin – People’s Money

Brief history of Bitcoin

On January 3rd, 2009 Satoshi Nakamoto published the Genesis Block with the first 50 Bitcoins on Sourceforge. He also left a message on the blockchain at the time, quoting the headline in the British newspaper Times:

On January 3, 2009, the minister was on the verge of bailing out the banks.

Nakamoto started writing the white paper in 2008 and published it in October of that year.

The concept of a decentralized, anonymous, trusted currency emerged after the 2008 financial crisis, which left responsibility for the banks.

Satoshi neither supports the modern banking system nor does he like partial reserve banks.

A partial reserve bank is a bank that takes deposits and issues loans or investments, but only has to reserve a fraction of its liabilities for deposits. Basically, the bank is using money that it doesn’t own.

Satoshi wants to get rid of banks and seedy middlemen whom he believes are corrupt and unreliable. As such, he created a more community-centric digital currency.

13 years later, Bitcoin is still going strong with a market cap of nearly $ 900 billion. It is currently held by billionaires, banks, celebrities, governments, and corporations. This is evidence of how far BTC has come in its brief existence.

The precarious banking situation and economic uncertainty are also in crisis again.

The price of Bitcoin on its birthday 🎂

13 years: $ 47,310
12 years: $ 33,400
11 years: $ 7,319
10 years: $ 3,783
9 years: $ 14,764
8 years: $ 1,084
7 years: $ 432
6 years: $ 275
5 years: $ 816
4 years: $ 13
3 years: $ 5
2 years: $ 0.29
1 year: $ 0.05


Happpy Birthday bitcoin !!!

Thanks for all the teachings and wealth of Knowledge I do now have thanks to you !!!


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DEX Aggregators 2022

Top DEX Aggregators

Decentralized exchange (DEX) aggregators, also known as liquidity aggregators, compile the exchange rates of numerous DEX platforms and show you a list of platforms offering the best value for your crypto trades.

Moreover, you can access a deeper pool of liquidity by trading on multiple DEXs using a single trading dashboard. Think of them as the search engines of the DeFi landscape, scouring DEXs for the best deals so that you can swap your crypto assets with the lowest fees.

1Inch

Although it is a DEX in its own right, 1Inch’s main USP is its position as a top DEX aggregator across multiple blockchains. The network supports trades across major ecosystems like Ethereum and Binance and smaller networks like Polygon, Arbitrum, and Optimism.

As an aggregator, 1Inch gives you access to over 120 liquidity sources, with 68 on Ethereum, 39 on Binance, and 24 on Polygon. With daily trading volumes averaging close to $300 million from 300,000+ active users, it is one of the most active DEX aggregators in 2021.

The native token of the 1Inch DEX is also called 1INCH. It functions as both a utility token and a governance token for the protocol. 1INCH is a multi-chain token available on the Ethereum and Binance Smart Chain.

1Inch is one of the best DEX aggregators for crypto rookies, with detailed documentation and a well-developed Help Center filled with starter guides, FAQs, and more.



Slingshot

Slingshot grew out of DEX.AG, a DEX aggregator platform created in late 2018 as part of a hackathon event. At its launch, it supported seven major DEX, including Uniswap, Kyber, and DDEX.

After million-dollar funding rounds, DEX.AG was rebranded as Slingshot in November 2020. Slingshot works on Ethereum-based protocols – Polygon (formerly MATIC) and Arbitrum One. Across the two, you get access to over 326 exchanges/liquidity sources.

Slingshot is a very popular choice among experienced cryptocurrency traders due to its relative simplicity and advanced functionality. The average daily volumes touching over half a billion dollars is a testament to the platform’s popularity.

However, due to a threadbare interface and lack of easily accessible website FAQs, guides, and documentation, Slingshot is not a very beginner-friendly DEX platform.



Totle Swap

Totle is a DEX aggregator that also dips into synthetic asset providers, allowing traders to engage with tokenized assets of many shapes and sizes. Unfortunately, the platform seems to be dormant, with no updates since mid-2021 and a lack of stats on any major crypto platform.


ParaSwap

ParaSwap is a versatile DEX aggregator supporting Ethereum, Binance, Polygon, and Avalanche blockchains. In addition, it has a native token for liquidity and governance purposes called the PSP.

While it is one of the more feature-packed and beginner-friendly DEX aggregators, ParaSwap is still in the growth phase. In 2021, the platform reported 1.4 million total users over time, with daily transaction volumes peaking around $150 million.

ParaSwap allows you access to swap and payment options across 75 DEX platforms, focusing on better market rates and cheaper gas fees. In addition, decentralized applications (dApps) can also integrate with ParaSwap to better streamline token swaps.


Matcha

Like 1Inch and Slingshot, Matcha is both a DEX aggregator and a decentralized exchange in itself. Powered by 0x Labs, the platform focuses on transparency, lower fees, smart order routing, and easier access.

Thanks to a recent partnership with MoonPay, Matcha can now accept payments in fiat currencies, a first for DEX platforms. This could be very useful for newcomers – you can directly purchase cryptos using regular currency on Matcha and start trading immediately.

Matcha provides access to over 50 liquidity sources and DEX platforms across three blockchain systems – Ethereum, Binance, and Polygon. Despite being one of the younger platforms on this list (launched in 2020), Matcha boasts over 2.5k daily traders. Its daily volumes are close to $150 million.


Uniswap V3

Uniswap is a DEX platform based on the Automated Marker Maker (AMM) model. After its launch in November 2018, the DEX has seen a meteoric rise among crypto circles. As of Q4 2021, it routinely tops the charts of DEX platforms with the largest daily volumes with $5.5 billion.

The platform is currently in its third iteration – Uniswap V3. Based on the Ethereum Blockchain, Uniswap gives you access to over 50 liquidity pools, with 285 cryptocurrencies across more than 350 markets. The USDC-ETH pair alone accounts for over $1.8 billion worth of trades each day.

While not a DEX aggregator per se, Uniswap is still a great option to consider due to its sheer size and reach. Most of the other aggregators on this list have Uniswap as a major partner and source of trading options.


PancakeSwap

PancakeSwap launched in 2020 to work like Uniswap, but on the Binance Smart Chain instead of Ethereum. Like Uniswap, PancakeSwap is a DEX platform with an AMM operating model, with an additional focus on yield farming based on the native CAKE token.

Regardless of the sweet and syrupy “cake” theme, PancakeSwap is a major force on the DeFi scene, thanks to the sheer size of the Binance blockchain. It easily slots into the top three most active DEX platforms, with daily volumes exceeding $2.6 billion.

The platform is user-friendly, with detailed community guides, troubleshooting articles, and customer support. In addition, you can trade in over 30 major cryptos backed by an equal number of high-quality liquidity pools.


SushiSwap

Is based directly on Uniswap, with a fork in the original code created by its anonymous developer who goes by the pseudonym Chef Nomi.

Right from the outset, SushiSwap has courted controversy. To generate liquidity, its founder encouraged users to deposit in Uniswap tokens, leeching away almost $810 million from Uniswap in a “vampire attack.”

Chef Nomi then proceeded to withdraw his liquidity from the project, generating a massive controversy. Ultimately, he backtracked and returned all funds, relinquishing his control over the project to a new team.

Since these early missteps, SushiSwap has maintained healthy growth rates in the crowded arena of Ethereum-based DEX/AMM platforms. It currently ranks in the top ten list, with daily volumes of close to $800 million across 400+ markets.


dYdX

dYdX is a major DEX platform with a heavy focus on reducing the inflated gas prices on Ethereum. It is one of the few platforms to offer gasless deposits to new users who deposit above a certain threshold. The platform has plans to make this a permanent feature.

dYdX is also working closely with StarkWare to deploy a Layer 2 scalability engine designed to reduce gas costs and trading fees further. Using Ethereum Smart Contracts, dYdX enables traders to invest in the crypto-equivalent of futures trading and other derivatives.

Due to its unique position on the Ethereum ecosystem, dYdX has managed to gain ground on other more popular DEX platforms like Uniswap. As a result, at the end of 2021, dYdX is ranked second on the list of the most active DEX platforms, with daily volumes of $5.4 billion.


Raydium

Instead of Ethereum or Binance, the Raydium platform operates on the highly promising Solana blockchain. As a result, the Ethereum-competitor has a vibrant developer ecosystem, and its cryptocurrency has grown at least 16,000% since January 2021.

The increased interest in the Solana blockchain has also helped Raydium, an AMM platform based on the Serum DEX.

The platform gives access to over 430 trading pairs, with Solana-USDT being the most popular.

The native token, also called Raydium, is the foundation of all future apps and projects on the Solana and Serum ecosystems.

The project’s primary focus is to function as the engine of DeFi on Solana. However, with current daily volumes already reaching $300 million, Raydium shows a lot of promise for future growth.


TraderJoe

Launched in 2020 as a less expensive, more efficient alternative to Ethereum,  Avalanche blockchain focuses on decentralized apps.

Its AVAX token has hit all-time high demands in late 2021, thanks to positive media coverage and high-profile partnerships with entities like Deloitte.

This surge has also propelled TraderJoe, the major DEX platform based around Avalanche blockchain, to the top of the DEX pile in recent times. Its pole position in the blockchain ecosystem has helped drive TraderJoe’s daily trades close to $1 billion.

You can trade major cryptos, stake and gain the native JOE token as rewards, lend other cryptos and farm yields on the TraderJoe platform. With low fees and over 170 markets, TraderJoe is a top target for anyone interested in the Avalanche ecosystem.


Top Pick: Uniswap

The Top pick is Uniswap, for its deep liquidity pools, its user-friendliness, and its commitment to continuous innovation.

As the various DeFi ecosystems continue to grow and expand, the importance of DEX aggregators and AMM platforms will increase further.

These platforms serve a vital purpose, finding liquidity and facilitating transactional activity across multiple blockchains.

To say that the future of DeFi, and by extension, the future of finance as we know it, hinges on DEX aggregators would not be an overstatement.


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Merry X-Mass – Crypto Style

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Bitcoin Taproot

On November 14th, block height 709,632, Bitcoin’s Taproot upgrade was activated. The update brings with it improvements to the flexibility, security, and efficiency of bitcoin transactions. And as Bitcoin’s first protocol upgrade in over four years, it’s a major milestone in the development of the network. 

Below, we outline the Taproot upgrade, what it changes, and how it will impact the bitcoin network going forward.

Three interconnected upgrades, deployed simultaneously

The Taproot upgrade is actually an umbrella term referring to three interconnected Bitcoin Improvement Proposals (BIPs) set to activate simultaneously: 

  1. BIP 340, or Schnorr. This proposal introduces Schnorr signatures, a digital signature scheme that is faster, more secure, and less data-intensive than the cryptographic method currently in use (Elliptic Curve Digital Signature Algorithm, or ECDSA).
  2. BIP 341, or Taproot. This proposal defines Pay-to-Taproot (P2TR), a new way to send bitcoin that enhances privacy and flexibility for users. It also implements Merklized Alternative Script Trees (MAST), which compress complex Bitcoin transactions into a single hash. This reduces transaction fees, minimizes memory usage, and improves Bitcoin’s scalability.
  3. BIP 342, or Tapscript. This proposal defines Tapscript, an update to Bitcoin’s original scripting language that enables P2TR transactions, leverages Schnorr signatures’ improved efficiency, and allows for more flexible upgrades going forward.

Taproot adoption timeline

On June 12th, 2021, these upgrade proposals reached a 90% consensus among miners, thus locking in their November activation as a soft fork to Bitcoin’s protocol. As a soft fork, the Taproot upgrade is backwards compatible with older versions of bitcoin and does not create a separate, parallel blockchain, as was the case with Bitcoin and Bitcoin Cash. 

Adoption of taproot is expected to grow slowly over a period of years, just as it did with SegWit, the last major Bitcoin upgrade. Two years after SegWit’s activation, roughly 50 percent of transactions used it; today, four years after, that proportion is 80 percent. The main reason for this slow rate of adoption is that cryptocurrency wallets and service providers choose to opt-in on their own schedule.

Taproot’s impact

The Taproot upgrade will improve Bitcoin in a number of ways, such as:

  • Lower fees: Since the data size of complex transactions will be reduced, transaction fees will decline proportionally.
  • Improved lightning network efficiency: Taproot will make transactions on the Lightning Network cheaper, more flexible and more private.
  • Enhanced smart contract functionality: With Taproot, Bitcoin will be able to host smart contracts with any number of signatories while retaining the data size of a single-signature transaction. This lays the technical foundation for DeFi on the Bitcoin network.
  • And many others

In other words, the Taproot upgrade is a massive improvement to the Bitcoin protocol.

Lightning network improvements and expanded smart contract capabilities will improve bitcoin’s utility; meanwhile, lower transaction fees and increased network speed will improve its scalability. 

For this reason, we’re thrilled to welcome BIP 340, 341, and 342 at block height 709,632 and beyond.

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AltCoin Stores

ALT Coin Stores and Services List

This page is to promote actual stores and people who sell services for ALTcoins.

What is most important, is to spread the word and make people aware of the widespread adoption of the cryptocurrencies all around the globe and in all layers of life !!!

*Not Updated… Work in Progress...

Stores selling goods NexWave – http://www.nexwave.ca

Coin payments processed Coaex – Buy custom gold bars, gold bullion, silver and jewelry – http://www.coaex.com/ – BTC, LTC, DOGE, BC, NOBL, FTC   

CoinCable Mining Supplies    – https://coincable.com    – BTC, LTC, PPC, NVC, XPM, YAC, PayPal

Crypto Coin Wallet Cards    – http://www.cryptocoinwalletcards.com    – LTC

Register domain using Bitcoin and Litecoin    – http://www.lovingdomains.com    – BTC, LTC, NMC, PPC, NVC

Pay hosting with Bitcoin and Litecoin    – http://www.lovinghosting.com    – BTC, LTC, NMC, PPC,

NVC Amazonia Imports    – http://btcpipeshop.com    – 42, ANC, BTC, BC, BQC, CAT, CGB, DGC, DMD, DOGE, DVC, FRC, FRK, FST, FTC, GLD, LTC, MAX, MZC, MEC, NET, NMC, NVC, NXT, PPC, QRK, RED, SBC, SPT, STR, SXC, TRC, UNO, WDC, XPM, & ZET

WROL.INFO – Survival Supplies    – http://wrol.info    – BTC, LTC, FTC, NMC, NVC, TRC, XPM, KGC, RED, ORB, BQC, CGB, DVC, CAP, DGC, GLD, YAC, QRK, ZET

NewsBam Usenet Services    – http://www.newsbam.com    – BTC, LTC, STR, FTC, NMC, PPC, NVC, WDC, TRC, XPM, IFC, KGC, RED, ORB, BQC, CGB, DVC, CAP, DGC, GLD, YAC,

SXC Cryptobooks – Buy eBooks with with cryptocurrency    – http://www.cryptobooks.com    – BTC, LTC, FTC, PPC, DVC, SXC

Bitezze – Buy precious metals with cryptocurrency    – http://bitezze.com    – BTC, LTC, STR, FTC, NMC, PPC, NVC, WDC, TRC, XPM, IFC, KGC, RED, BQC, CGB, DVC, CAP, DGC, GLD, YAC, SXC, ADT, MEC, ANC, ZET, NET, PayPal Passthru

CryptoDirect    – http://www.cryptodirect.cf    – BTC, LTC, FTC, PPC, NVC, WDC, XPM, IFC, DGC, ANC, QRK, ZET, NET, FRC

Cheap Miners – Cheap ASIC miners and accessories    – http://www.cheapminers.com    – BTC, LTC, XPM

Dahms Weinversand – German Wine Home Delivery    – http://www.dahms-weinversand.de   

4:19 Store    – http://www.419store.com    Crypto Game Keys    – http://www.cryptogamekeys.com    – BTC, LTC, NMC, PPC, NVC, WDC, XPM, IFC, KGC, RED, ORB, BQC, CGB, DVC, CAP, DGC, GLD, SXC, ADT, MEC, QRK, ZET, NET, FRK, COL, SBC

VPS City    – http://www.vps-city.com    – LTC, PayPal Passthru

Thermostats, actuators and controllers    – http://www.thermostatenshop.nl    – BTC

Electric heating appliances    – http://www.budgetheat.eu    – BTC

Romer and 2HEAT far infrared panels    – http://www.infraroodpanelen.eu    – BTC

Outdoor- and ramp heating    – http://www.opritverwarmingen.eu    – BTC

Ceramic heating elements    – http://www.keraheat.com    – BTC Distinguished

Imports    – https://distinguishedimports.com    – BTC, LTC, PPC

GameCardVN    – http://gamecardsvn.com   

Verbena Products – Family owned online store specializing in bringing our customers high end Health and Beauty products at very competitive prices.    – https://www.verbenaproducts.com    – BTC, LTC, PPC

Cryptocoin Stuff!    – http://www.cryptocoinstuff.com    – BTC, LTC, FTC, NMC, PPC, NVC, WDC, TRC, XPM, IFC, KGC, RED, ORB, BQC, CGB, DVC, CAP, DGC, GLD, YAC, SXC, ADT, MEC, ANC, QRK, ZET, NET, FRK, COL, SBC, FRC

Retro Towers    – http://www.retrotowers.co.uk    – BTC, LTC, FTC, NMC, PPC, NVC, WDC, TRC, XPM, IFC, KGC, RED, ORB, BQC, CGB, DVC, CAP, DGC, GLD, YAC, ADT, MEC, ANC, QRK, ZET, NET, FRK, COL, SBC, FRC

VPS4ME    – http://vps4.me    – BTC, LTC, FTC, NMC, NVC, WDC, TRC, XPM, IFC, KGC, RED, BQC, CGB, DVC, CAP, DGC, GLD, YAC, SXC, ADT, MEC, ANC, QRK, ZET, NET, FRK

HostClub    – http://hostclub.me

WaterIdo – Healthy Water Revitalizer    – http://waterido.com    – BTC, LTC, FTC, NMC, PPC, NVC, WDC, TRC, XPM, IFC, KGC, RED, BQC, CGB, DVC, CAP, DGC, GLD, YAC, ADT, MEC, ANC, QRK, ZET, NET, FRK, COL   

Sarasota Slot Machines    – http://sarasotaslotmachines.com    – BTC, LTC, IFC, MEC, PayPal Passthru

GRKreations Direct    – http://grkreationsdirect.com    – BTC, LTC, FTC, NMC, PPC, NVC, WDC, TRC, XPM, IFC, KGC, RED, BQC, CGB, DVC, CAP, DGC, GLD, YAC, SXC, ADT, MEC, ANC, QRK, ZET, NET, FRK, COL, SBC, FRC, PayPal Passthru

Mining Hardware    – http://www.mininghardware.co.uk    – BTC, LTC

DuinoBits – Arduino kits (UK & Europe)    http://www.duinobits.com    – BTC, LTC

Johnsbay Flooring Co. – Flooring Material including Carpeting, Wood flooring, Laminate, Tiles.    – http://www.johnsbay.com    – BTC

Hash Rate Store    – https://www.hashratestore.com    – BTC, LTC

Coin Gas – Steam game codes for alt coins    – http://www.coingas.com    – BTC, CAP, DGC, FTC, GIL, LTC, NVC, PPC, WDC, CGB

sauce4coins    – http://sauce4coins.com    – BQC, BTC, LTC, BTB, CGB, FTC, CAP, VNC, DGC, XPM (and others if you email them)

BottleCaps Store – Itunes cards and World of tanks tokens    – http://bottlecapstore.weebly.com    – CAP’s and LTC – Canadian Orders for Itunes only

cryptosextoys    – http://www.cryptosextoys.com    – BTC, CAP, DGC, FTC, LTC, NVC, PPC, CGB, SXC

dailybit – Daily special something new everyday – http://dailybit.net    – BTC, LTC, XPM, FTC,CAP, IFC, WDC, NVC, NMC, TRC, KGC, PPC, RED, STR, WDC, Peercoins and Paypal

REDCOINSHOP – Herbal pills remedies    – http://REDCOINSHOP.com    – RED

pythonpills- Male enhancement pill    – http://pythonpills.com/red    – RED

bitcoinprbuzz – Press Release services for crypto projects – Copy Writing and content creation – Business consulting    – http://bitcoinprbuzz.com    – BTC, DVC,BTC, CGB, LTC and FST

finite by design – Coins, Pendants etc    – http://www.finitebydesign.com    – CGB

cryptothrift – Online Thrift Shop    – https://cryptothrift.com    – BTC, LTC

Litehosting- Web Hosting    – http://Litehosting.org    – BTC, LTC, NMC, XPM

ltcasics – All kinds of gift cards    – http://ltcasics.com    – LTC AltcoinTIP    – http://reddit.com/r/ALTcointip    – BTC, LTC, PPC, NMC, FTC, and XPM

DirectVoltage – alternative energy retailer    – http://DirectVoltage.com    – BTC, LTC, FTC, PPC

Sex Stories    – http://erotica4sxc.tk/about-2    – SXC

Porn Database    – http://www.porndatabase.co.uk    – SXC

3D Porn    – http://www.lynortis.com/alt-coins.php    – SXC

coinaxis    – https://coinaxis.com/    – LTC

dvc4giftcards – Giftcards    – http://dvc4giftcards.us    – DEV

Bitcora – Bitcoin templates and themes – https://bitorca.com   

Epawnatl- Pawn Shop    – http://Epawnatl.com    – FRK, BTC

Etsyshop    – http://www.etsy.com/shop/InnovoDesign    – DOGE, IFC, COL,LTC

Open Source Solutions    – http://www.iquidus.co.nz    – BTC, MEC, LTC, Earthcoins

LEALANA PHYSICAL LITECOINS…and BITCOINS – http://www.lealana.com – LTC

Evonym – http://evonym.us/ -BTC, LTC, TRC, PPC.

Minecraft Server – https://alt-co.in/minecraft/ – GME

Sexslam – http://sexslam.com – RED

All Things Luxury – http://www.allthingsluxury.biz/ – BTC, LTC

7 Pay In – Pay for mobile and ISP services/ecash/WoT/Steam/whatever – https://7pay.in/ – BTC, LTC, CL and NVC

CryptFolio – CryptFolio lets you keep track of your cryptocurrencies – http://CryptFolio.com – BTC, LTC

Bananalizard.com – Video game store – http://bananalizard.com – BTC, LTC, CGB, XPM, paypal

Tagbond.com – Merchant site hosting – http://tagbond.com – BTC, TAG

Cleverpuffin – Web Hosting – http://www.cleverpuffin.com – LTC

Bitroad – Electronics from China including tablet, phones, surveillance, security and gadgets delivered worldwide in 3-6 days (express). – http://bitroad.co.uk/ – BTC, LTC

Get More Customers – San Francisco Marketing/SEO Company – http://get-more-customers.com and http://sanfranciscoseoagency.com/cryptocurrency/ – EAC

BitCoinPINS!! – http://www.bitcoinpins.com/ – EAC

Polish SEO company – http://dodawanie.com/ – EAC

FlightSchool! Commercial pilot and flying instructor – http://www.paul-bradley.com – EAC ribbit.me – http://ribbit.me https://coinpayments.net/

Tagbond.com https://bitcointalk.org/index.php?topic=317408

This is a list of services and games that support LottoCoin (LOT): Services:

CyberSticker service: http://www.cryptostickers.com/

Reload Creative (app/web development service): http://reloadcreative.com.au/

Advertising pixels http://www.qugetser.com/lot-map

SEO Service http://sanfranciscoseoagency.com/cryptocurrency/

Games: CoinBomb: http://coinbomb.biz/lottocoin/

Lotto Game: http://lottocoin.org/lottogame/

Another Lotto Game: http://www.keezi.com/lotto/index.php

Lotto Dice Game: http://www.lottodice.tk/

Here is a list of shops/services/games that accept EarthCoin Iquidus Technology –

Open Source Solutions – 

http://www.iquidus.co.nz/

Get More Customers – San Francisco Marketing/SEO Company – http://get-more-customers.com

http://sanfranciscoseoagency.com/cryptocurrency/

BitCoinPINS!! http://www.bitcoinpins.com/

Polish SEO company http://dodawanie.com/

FlightSchool! Commercial pilot and flying instructor http://www.paul-bradley.com

Beautiful EarthCoin Paper Wallet Generator http://earthaddress.org/

EarthCoin Gaia Game http://gaia.l8.lv/

Logo Design http://logodynamic.blogspot.ca/p/sold-logos.html

Dice Game http://earthdice.tk/

LixNez Games http://www.lixnez.com/eacgames.html

EarthRoll Game http://earthroll.l8.lv/

Kissmyweb.com – We Build Websites – Simple! http://www.kissmyweb.com BTC and DVC accepted

http://scryptstore.com Gold & Silver – Paypal direct deposits and gift cards

Healthiverse – http://healthiverse.net

TuffWraps – Athletic Wrist Wraps   – http://tuffwraps.com

Crypto Alley – The Online Digital Currency Marketplace – http://www.cryptoalley.com

Cryptmint – Precious Metal Bitcoin Wallets & Physical Coins – http://www.cryptmint.com/

Devcoin Store – http://devcoinstore.com

Crypto Store – http://cryptostore.io

Armonie Sonore – http://www.armoniesonore.com

StickerzLab – http://www.stickerzlab.com   

Trade4Bitcoin – Comics and Collectibles   http://www.trade4bitcoin.com

Scryptcoin Store – http://www.scryptstore.com 

Fine Art Source – http://out-of-court-settlement.com

NitroBacku – http://www.nitrobackup.com

Cardz4Cash – Gift, Prepaid, Game, and VoIP Cards + more – http://cardz4cash.com

Vapeur Canada – http://www.vapeurcanada.com

DOGMA Portraits – http://dogmaportraits.com

Heat4Feet – http://www.heat4feet.net

BitcoinMetals – http://www.bitcoinmetals.us

DDoS Cover – http://ddoscover.com

Doge Host – http://dogehost.co.uk

Bit Electronics – http://bitelectronics.net/

http://quickbomb.com   RED https://dicenow.com

PXL COIN – http://www.pxlcoin.com/

Here is a list of sites that accept QRK:

http://www.petscoin.com/ – Animal/Pet store, Donations to Shelters

http://www.51attack.com/ – T-Shirt makers that currently accept 31 cryptocurrencies

http://www.chasinho.org/shop/ – Tea shop in Berlin

http://www.keepitwooden.com – Custom Wooden Shot Glasses (Accepts Coinpayments)

http://www.appsforcoins.com/?currency=QRK – Apple iOS Apps

143VPN – http://143vpn.com

SimRai Game Servers – http://www.simrai.com

CryptoHosted.com – http://cryptohosted.com

The Staking Machine – TSM – http://www.thestakingmachine.com

Vox – http://www.vox-game.com/buy-with-crypto-coins/

Upchurch Design – http://upchur.ch

BTC Headshop – http://btcheadshop.com

Bitcoin Sportscards – http://bitcoinsportscards.com

ThanksBitcoin.com – http://www.thanksbitcoin.com

Those shops/services accept payment using Graincoin (GRA), many of which through CoinPayments that support Graincoin:

Wood Shot Glass http://woodshotglass.com/

Tuff Wraps http://tuffwraps.com/

Computer hardware and consumer electronics   http://brownboxtech.net

WaterIdo – Healthy Water Revitalizer http://waterido.com

Xbox Gold 48 Hour Codes – 2 for $1 http://xbox48.bugs3.com

Iquidus Technology – OpenSource Software, Hi-Performance Hardware http://www.iquidus.co.nz/

Retro Towers – Gaming Hardware http://www.retrotowers.co.uk/

Stickerz Lab – French Sticker Decorations http://stickerzlab.com/

Pixcoin – Stickers for Crypto Coins http://pixcoin.com/

Crypto GameKeys – Buy CD Keys, PSN cards, PS3/4/Vita games http://www.cryptogamekeys.com ThanksBitcoin – a Bitcoin shop http://www.thanksbitcoin.com

Advertise Service http://cryptotiler.com/

Graincoin main thread at: https://bitcointalk.org/index.php?topic=361503.0

143VPN – http://143vpn.com

SimRai Game Servers – http://www.simrai.com

CryptoHosted.com – http://cryptohosted.com

The Staking Machine – TSM – http://www.thestakingmachine.com

Vox – http://www.vox-game.com/buy-with-crypto-coins/

Upchurch Design – http://upchur.ch

BTC Headshop – http://btcheadshop.com

Bitcoin Sportscards – http://bitcoinsportscards.com

ThanksBitcoin.com – http://www.thanksbitcoin.com

Wood Shot Glass : http://woodshotglass.com/

Tuff Wraps http://tuffwraps.com/

Computer hardware and consumer electronics   http://brownboxtech.net

WaterIdo – Healthy Water Revitalizer http://waterido.com

Xbox Gold 48 Hour Codes – 2 for $1 http://xbox48.bugs3.com

Iquidus Technology – OpenSource Software, Hi-Performance Hardware http://www.iquidus.co.nz/

Retro Towers – Gaming Hardware http://www.retrotowers.co.uk/

Stickerz Lab – French Sticker Decorations http://stickerzlab.com/

Pixcoin – Stickers for Crypto Coins http://pixcoin.com/

Crypto GameKeys – Buy CD Keys, PSN cards, PS3/4/Vita games http://www.cryptogamekeys.com ThanksBitcoin – a Bitcoin shop http://www.thanksbitcoin.com

Advertise Service http://cryptotiler.com/

Gamble with Altcoins http://www.coincasino.cc – Casino that takes many coins

http://www.litecointogox.com – Bet on LTC when it comes to GOX or coinbase – BTC, LTC, FTC,IFC ,KGC, NMC, NVC, WDC, XPM, STR, RED, TRC, Peercoin

http://cryptoblackjack.kicks-ass.net – BlackJack style game – GME, DBL, MNC, LKY, WDC, DGC, BQC, PXC, PPC, GLD, MEM, DMD, EZC, FRK, CAP, IFC, KGC, CSC, CGB, HBN

http://alt-co.in/slots.php – A Slot machine – FTC, WDC, DGC, CHN, LTC, BBQ, GMC

http://REDCOINCASINO.com – Various unique gambling games – RED

http://redcoinlotto.com – Lotto – RED

http://coinjack.com/ – BlackJack – RED

http://lotto.coinworld.us/ – Multiple coin lotteries – DGC, FLC, RED, MEC, EMD, ALF, CAP, CGB, IFC, ARG, LTC, CRC

http://litecoinkamikaze.com – LTC

http://fckamikaze.com – FTC

http://minikaze.com – MNC

http://bit-loot.com – LTC

http://www.litecoinlottery.com/ – LTC

http://rapidballs.eu   – 5 Minute Lotto site – WDC, XPM, TIX, DVC

http://litecoinkamikaze.com – LTC

http://fckamikaze.com – FTC

http://minikaze.com – MNC

Provably fair Litecoin Roulette – http://www.l8.lv/ – Single Zero European Style Litecoin Roulette.

Provably Fair! DogeCoin Provably fair DogeCoin Roulette – http://dogespin.l8.lv/

Single Zero European Style Dogecoin Roulette. Provably Fair! BlackJack style game http://cryptoblackjack.kicks-ass.net/

A Slot machine http://alt-co.in/slots.php

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Bitcoin (BTC) :

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LiteCoin(LTC) :

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Ethereum(ETH) :

0x602e8Ca3984943cef57850BBD58b5D0A6677D856


EthereumClassic(ETC) :

0x602e8Ca3984943cef57850BBD58b5D0A6677D856


Cardano(ADA) :

addr1q88c5cccnrqy6xesszzvf7rd4tcz87klt0m0h6uvltywqe8txwmsrrqdnpq27594tyn9vz59zv0n8367lvyc2atvrzvqlvdm9d


BinanceCoin(BNB) :

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BitcoinCash (BCH)

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Bitcoin SV (BSV)

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ZCash(ZEC) :

t1fSSQX4gEhove9ngcvFafQaMPq5dtNNsNF


Dash(DASH) :

XcWmbFw1VmxEPxvF9CWdjzKXwPyDTrbMwj


Shiba(SHIB) :

0x602e8Ca3984943cef57850BBD58b5D0A6677D856


Tron(TRX) :

TCsJJkqt9xk1QZWQ8HqZHnqexR15TEowk8


Stellar(XLM) :

GBL4UKPHP2SXZ6Y3PRF3VRI5TLBL6XFUABZCZC7S7KWNSBKCIBGQ2Y54





Bitcoin Halving

Bitcoin Halving

What Is a Bitcoin Halving?

Bitcoin’s most recent halving occurred on May 11, 2020. To explain what a Bitcoin halving is, we must first explain a bit about how the Bitcoin network operates.

Bitcoin’s underlying technology, blockchain, basically consists of a collection of computers (or nodes) that run Bitcoin’s software and contain a partial or complete history of transactions occurring on its network.

Each full node, or a node containing the entire history of transactions on Bitcoin, is responsible for approving or rejecting a transaction in Bitcoin’s network.

To do that, the node conducts a series of checks to ensure that the transaction is valid. These include ensuring that the transaction contains the correct validation parameters, such as nonces, and does not exceed the required length.

A transaction occurs only after all the parties operating in Bitcoin’s network approve it within the block on which the transaction exists. After approval, the transaction is appended to the existing blockchain and broadcast to other nodes.

The blockchain serves as a pseudonymous record of transactions (i.e., its contents are visible to everyone, but it is difficult to identify transacting parties in the network). This is because the blockchain assigns encrypted addresses to each transacting party in the network. That said, even those who do not participate in the network as a node or miner can view these transactions taking place live by looking at block explorers.

More computers (or nodes) added to the blockchain increase its stability and security.

There are currently 12,035 nodes estimated to be running Bitcoin’s code. Though anyone can participate in Bitcoin’s network as a node, as long as they have enough storage to download the entire blockchain and its history of transactions, not all of them are miners.

KEY TAKEAWAYS

  • A Bitcoin halving event is when the reward for mining bitcoin transactions is cut in half.
  • This event also cuts in half Bitcoin’s inflation rate and the rate at which new bitcoins enter circulation.
  • Both previous halvings have correlated with intense boom and bust cycles that have ended with higher prices than prior to the event.
  • Bitcoin last halved on May 11, 2020, around 3 p.m. EST, resulting in a block reward of 6.25 BTC.

Bitcoin Mining

Bitcoin mining is the process by which people use their computers to participate in Bitcoin’s blockchain network as a transaction processor and validator.

Bitcoin uses a system called proof of work (PoW). This means that miners must prove they have put forth effort in processing transactions to be rewarded. This effort includes the time and energy it takes to run the computer hardware and solve complex equations.

Faster computers with certain types of hardware yield larger block rewards and some companies have designed computer chips specifically built for mining. These computers are tasked with processing Bitcoin transactions, and they are rewarded for doing so.

The term mining is not used in a literal sense but as a reference to the way precious metals are gathered.

Bitcoin miners solve mathematical problems and confirm the legitimacy of a transaction. They then add these transactions to a block and create chains of these blocks of transactions, forming the blockchain.

When a block is filled up with transactions, the miners that processed and confirmed the transactions within the block are rewarded with bitcoins.

Transactions of greater monetary value require more confirmations to ensure security. This process is called mining because the work performed to get new bitcoins out of the code is the digital equivalent to the physical work done to pull gold out of the Earth.

El Salvador made Bitcoin legal tender on June 9, 2021. It is the first country to do so. The cryptocurrency can be used for any transaction where the business can accept it. The U.S. dollar continues to be El Salvador’s primary currency.

Bitcoin Halving

After every 210,000 blocks mined, or roughly every four years, the block reward given to Bitcoin miners for processing transactions is cut in half.

This cuts in half the rate at which new bitcoins are released into circulation. This is Bitcoin’s way of using a synthetic form of inflation that halves every four years until all bitcoins are released into circulation.

This system will continue until around the year 2140.

At that point, miners will be rewarded with fees for processing transactions, which network users will pay. These fees ensure that miners still have the incentive to mine and keep the network going. The idea is that competition for these fees will cause them to remain low after the halvings are finished.

The halving is significant because it marks another drop in the rate of new Bitcoins being produced as it approaches its finite supply: the total maximum supply of bitcoins is 21 million. As of October 2021, there are about 18.85 million bitcoins already in circulation, leaving just around 2.15 million left to be released via mining rewards.

In 2009, the reward for each block in the chain mined was 50 bitcoins. After the first halving, it was 25, and then 12.5, and then it became 6.25 bitcoins per block as of May 11, 2020.

To put this in another context, imagine if the amount of gold mined out of the Earth was cut in half every four years. If gold’s value is based on its scarcity, then a “halving” of gold output every four years would theoretically drive its price higher.

Coin Metrics Bitcoin Halving
Coin Metrics logarithmic chart of Bitcoin price action following halvings.

Halving Implications

These halvings reduce the rate at which new coins are created and thus lower the available amount of new supply, even as demand might increase.

This can cause some implications for investors as other assets with low or finite supply, like gold, can have high demand and push prices higher.

In the past, these Bitcoin halvings have correlated with massive surges in Bitcoin’s price.

The first halving, which occurred on Nov. 28, 2012, saw an increase from $12 to $1,217 on Nov. 28, 2013.

The second Bitcoin halving occurred on July 9, 2016. The price at that halving was $647, and by Dec. 17, 2017, a bitcoin’s price had soared to $19,800. The price then fell over the course of a year from this peak down to $3,276 on Dec. 17, 2018, a price 506% higher than its pre-halving price.

The most recent halving occurred on May 11, 2020. On that date, a bitcoin’s price was $8,787. On April 14, 2021, a bitcoin’s price soared to $64,507 (an astonishing 634% increase from its pre-halving price). A month later, on May 11, 2021, a bitcoin’s price was $54,276, representing a 517% increase that seems more consistent with the behavior of the 2016 halving.

On May 12, 2021, Elon Musk, CEO of Tesla, announced that Tesla would no longer accept Bitcoin as payment, resulting in further price fluctuations.

In the week that followed Musk’s statements, the price of a bitcoin plunged below $40,000 after Chinese regulators announced restrictions banning financial institutions and payment companies from providing cryptocurrency-related services.

Though these two announcements may have temporarily created a price drop in Bitcoin, there is the potential that the price fluctuations are more related to the halving behavior we have observed previously.

The theory of the halving and the chain reaction that it sets off works something like this:

The reward is halved → half the inflation → lower available supply → higher demand → higher price → miners incentive still remains, regardless of smaller rewards, as the value of Bitcoin is increased in the process

In the event that a halving does not increase demand and price, then miners would have no incentive. The reward for completing transactions would be smaller, and the value of Bitcoin would not be high enough.

To prevent this, Bitcoin has a process to change the difficulty it takes to get mining rewards, or in other words, the difficulty of mining a transaction.

In the event that the reward has been halved, and the value of Bitcoin has not increased, the difficulty of mining would be reduced to keep miners incentivized.

This means that the quantity of bitcoins released as a reward is still smaller, but the difficulty of processing a transaction is reduced.

This process has proved successful twice. So far, the result of these halvings has been a ballooning in price followed by a large drop.

The crashes that have followed these gains, however, have still maintained prices higher than before these halving events.

For example, as mentioned above, the 2017 to 2018 bubble saw the value of a bitcoin rise to around $20,000, only to fall to around $3,200. This is a massive drop, but a bitcoin’s price before the halving was around $650.3

Though this system has worked so far, the halving is typically surrounded by immense speculation, hype, and volatility, and how the market will react to these events in the future is unpredictable.

The third halving occurred not only during a global pandemic, but also in an environment of heightened regulatory speculation, increased institutional interest in digital assets, and celebrity hype. Given these additional factors, where Bitcoin’s price will ultimately settle in the aftermath remains unclear.

What Happens When Bitcoin Halves?

The term “halving” as it relates to Bitcoin has to do with how many Bitcoin tokens are found in a newly created block.

Back in 2009, when Bitcoin launched, each block contained 50 BTC, but this amount was set to be reduced by 50% roughly every four years.

Today, there have been three halving events, and a block now only contains 6.25 BTC.

When the next halving occurs, a block will only contain 3.125 BTC.

When Have the Halvings Occurred?

The first bitcoin halving occurred on Nov. 28, 2012, after a total of 10,500,000 BTC had been mined. The next occurred on July 9, 2016, and the latest was on May 11, 2020. The next is expected to occur in early 2024.

Why Are the Halvings Occurring Less Than Every Four Years?

The Bitcoin mining algorithm is set with a target of finding new blocks once every 10 minutes.

However, if more miners join the network and add more hashing power, the time to find blocks will decrease.

This is remedied by resetting the mining difficulty (or how hard it is for a computer to solve the mining algorithm) once every two weeks or so to restore a 10-minute target.

As the Bitcoin network has grown exponentially over the past decade, the average time to find a block has consistently remained below 10 minutes (roughly 9.5 minutes).

Does Halving Have Any Effect on the Bitcoin Price?

The price of Bitcoin has risen steadily and significantly from its launch in 2009, when it traded for mere pennies or dollars, to April 2021 when the price of one bitcoin traded for over $63,000.3

Because halving the block reward effectively doubles the cost to miners, who are essentially the producers of bitcoins, it should have a positive impact on price because producers will need to adjust their selling price to their costs.

Empirical evidence does show that Bitcoin prices tend to rise in anticipation of a halvening, often several months prior to the actual event.

What Happens When There Are No More Bitcoins Left in a Block?

Around the year 2140, the last of the 21 million bitcoins ever to be mined will have been mined.

At this point, the halving schedule will cease because there will be no more new bitcoins to be found.

Miners, however, will still be incentivized to continue validating and confirming new transactions on the blockchain because the value of transaction fees paid to miners is expected to rise into the future, the reasons being that a greater transaction volume that has fees will be attached, plus bitcoins will have a greater nominal market value.

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Block Reward

What Is a Block Reward?

Bitcoin block rewards are new bitcoins awarded to cryptocurrency miners for being the first to solve a complex math problem and creating a new block of verified bitcoin transactions.

The miners use networks of computers to do this, and every time a new block is created it is verified by all the other competing miners. Then a new math problem is introduced and the miners start over.

KEY TAKEAWAYS

A block reward refers to the number of bitcoins you get if you successfully mine a block of the currency.

The amount of the reward halves after the creation of every 210,000 blocks, or roughly every four years.

The amount is expected to hit zero around 2140.

Understanding Block Rewards

The block reward provides an incentive for bitcoin miners to process transactions made with the cryptocurrency. Creating an immutable record of these transactions is vital for bitcoin to work as intended.

The blockchain is like a decentralized bank ledger—one that can’t be altered after being created. The miners are needed to verify the transactions and keep this ledger up to date. Block rewards, and to a lesser extent, transaction fees, are their payment for doing so.

Bitcoin was designed so that new bitcoins are created at a consistent pace. So the difficulty of the math problem is adjusted every two weeks to ensure a steady output of new bitcoins—roughly one block of transactions every 10 minutes.

Bitcoin’s Block Rewards Vs. Ethereum’s

Ethereum, bitcoin’s main competitor as a cryptocurrency, also relies on block rewards to provide incentives to miners. With Ethereum, the reward is a digital token called “ether,” which is rewarded each time a miner succeeds in providing the mathematical proof of a new block. As with bitcoin, miners are also awarded a transaction fee, known as a “gas” fee.

Unlike with bitcoin, there is no limit on the number of Ethereum ether tokens that can be created, and they are created at a much faster pace—in seconds, versus about 10 minutes. So the total number of blocks in the Ethereum chain is larger than in the bitcoin chain.

The Future of Bitcoin Block Rewards

To limit inflation, bitcoin creator Satoshi Nakamoto designed bitcoin to ultimately have only 21 million bitcoins.

This is why the size of bitcoin block rewards is halved after the creation of every 210,000 blocks, which takes around four years.

At bitcoin’s inception in 2009, each block reward was worth 50 BTC.

In May 2020, the block reward was halved a third time to 6.25 BTC.

And as of May 2021, there were already 18.7 million bitcoins in existence, or nearly 90% of the total planned supply.

Ultimately, the block reward is scheduled to reach zero around May 2140, but mining will likely no longer be profitable long before that date is reached.

As of April 2039, about 99.6% of bitcoins will already have been issued, and the block reward will be just 0.19531250 bitcoin.

Along the way, transaction fees are expected to become the primary incentive for bitcoin miners

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Starting a Bitcoin Mining Business – A Complete Guide

Why Start a Bitcoin Mining Business?

If you love working from home, then you should consider starting an internet based business.

One of the businesses that you can easily start at home with a computer and mining rigs is bitcoin mining.

Simply put, bitcoin is a digital currency that operates independently of any country’s central bank. In order to get an updated value of the worth of a bitcoin, you can make use of Google’s currency converter; it is a reliable platform to know the value of bitcoin each time.

If you are interested in mining bitcoin, then you have two options to follow.

You can choose to mine a block of bitcoins from the computer or you can choose to pool.

If you want quick returns on your investment, then joining a pool is your best option because mining a block of bitcoins from your computer may take you a month or more before you get any return on your investment.

Please note that if you join a pool, you will only get smaller payments, but you can be rest assured that you will get them at a regular basis.

Starting a bitcoin mining business can be rewarding but you would have to compete with other well established bitcoin miners on the World Wide Web. The fact that you will be competing with people from all over the globe is enough reason for you to be result oriented and at the same be creative with your bitcoin mining business.

So, if you have done the required online or offline bitcoin mining related courses, then you might want to venture into this business.

Starting a Bitcoin Mining Business – A Complete Guide

Industry Overview

Bitcoin mining in its simplest term is the practice of adding transaction records to Bitcoin’s public ledger of previous transactions or block chain.

This ledger of previous transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.

As a matter of fact, Bitcoin miners help keep the Bitcoin network secure by approving transactions.

Mining is indeed an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and highly secured.

Bitcoin mining as the name implies is similar to the mining of other commodities: it requires deliberate and calculated effort and it slowly makes new currency available at a rate that looks like the rate at which commodities like gold and copper et al are mined from the ground. Mining is also a mechanism used to introduce Bitcoins into the system.

Bitcoin is a type of digital currency that is created and held electronically; it is a cryptocurrency and a digital payment system that is invented by an unknown programmer, or perhaps a group of programmers. No one controls it.

Unlike Dollars, Euros, Pounds and other currencies, bitcoins are not printed, they are produced by people and businesses running computers all around the world, using software that solves mathematical problems.

If you want to start mining bitcoin, you would need an online wallet where your bitcoins will be stored.

There are several wallet options available online for bitcoin mining. The rule of thumb to follow before choosing an online wallet for your bitcoin mining is to choose a wallet that will allow you save bitcoins, buy bitcoins, use bitcoins and also accept bitcoins as a means of payment.

The Bitcoin (cryptocurrency and a digital payment system) industry is indeed a large internet based industry and pretty much active in countries such as United States of America, United Kingdom, France, Italy, Nigeria, Sweden, Australia, Japan, China, Germany, and Canada et al.

Despite the fact that the bitcoin mining business is still much of a green business, the business will continue to blossom because more and more users will embrace the use of bitcoins in the nearest future.

So, if you have an entrepreneurial mentality and you wish to join a massive technological revolution, you can start your own bitcoin mining business.

The truth is that you can build a bitcoin mining business even if you are not too ICT savvy and have limited capital to invest in software development and infrastructure, as long as you have internet access and you know how to use the internet.

Some of the factors that encourage entrepreneurs to start their own bitcoin mining business could be that the business is easy to set up and the startup capital is indeed affordable; you can actually start your own bitcoin mining business from the comfort of your house.

All you need to do is to create an office somewhere in your house. You don’t necessarily need to see the people you are doing business with since you can transact bitcoin mining business with clients from any part of the world.

Lastly, starting a bitcoin mining business requires professionalism, advanced mathematics skills and a good grasp of how cryptocurrency and the digital payment system works on a global platform.

Besides, you would need to get the required certifications and license and also meet the required standard for such business before you can be allowed to start a bitcoin mining business in the United States.

Starting a Bitcoin Mining Business – Market Research and Feasibility Studies

Demographics and Psychographics

The demographic and psychographic composition of those who require the services of bitcoin miners are not restricted to bitcoin exchange and trading companies and bitcoin traders, people and organizations that make online transactions in your immediate community or state, but it cuts across people on the cyber space who make use of bitcoins from all over the world.

This is so because bitcoin is a cryptocurrency and a digital payment system used basically on the internet hence the leverage to work for people and organization all across the globe.

So, if you are looking towards defining the demographics of your bitcoin mining business, you should make it all encompassing. It should include bitcoin exchange and trading companies and bitcoin traders, programmers, investors, and internet – business oriented people and organizations within and outside the United States.

List of Niche ideas Within the Bitcoin Mining Business That You Can Specialize in

Most bitcoin mining companies tend to operate the general bitcoin mining business that a standard bitcoin mining poll/company is expected to offer, that is why it seems like there are no niche areas in the industry.

But on the other hand, some bitcoin mining company may decide to major in some key areas such as:

  • Bitcoin cloud mining
  • Bitcoin cloud hashing
  • Providing other related bitcoin, cryptocurrency and digital payment system consulting and advisory services

The Level of Competition in the Bitcoin Mining Services Industry

The level of competition in the cryptocurrency and a digital payment system industry does not in any way depend on the location of the business since most people that mine bitcoin can operate from any part of the world and still effectively compete in the bitcoin mining line of business cum cryptocurrency and a digital payment system industry.

When it comes to bitcoin mining, distance is never a barrier when competing for clients especially international clients.

What most clients want is result, hence they are ready to make use of bitcoin miners or bitcoin mining platforms no matter the part of the world they operate from as long as they have good track record and can deliver excellent results when it comes to mining and selling bitcoins to them.

There are several bitcoin miners and bitcoin mining pools scattered all around the United States and in the cyber space.

So, if you choose to start your own bitcoin mining company in the United States, you will definitely meet stiffer competitions not only amongst bitcoin mining companies in the United States, but also all over the globe especially if you choose to specialize in cryptocurrency and digital payment system.

List of Well – Known Brands in the Bitcoin Mining Business

In every industry, there are always brands that perform better or are better regarded by customers and the general public than others. Some of these brands are those that have been in the industry for a long time, while others are best known for the results they deliver.

These are some of the leading bitcoin mining companies (bitcoin mining pools) in the United States of America and also in the globe:

Economic Analysis

As an ICT aspiring entrepreneur who is looking for a business that requires programming and mathematics skills and perhaps minimal startup capital to start, then you can consider starting a bitcoin mining pool.

The cost of running a standard bitcoin mining pool when compared to the turnover you get can be poles apart (this is applicable when you have been able to establish your feet in the industry).

One thing is certain when it comes to the bitcoin mining business and most internet based businesses, you are sure of making profits when you successfully produce results that are measurable.

As a matter of fact, the cost of running the business from start to finish could be restricted to the cost of making phone calls, transportation and internet subscriptions, PR and of course bitcoin mining and hashing hardware and software et al.

Starting Your Bitcoin Mining Company from Scratch vs Buying a Franchise

When it comes to starting a business of this nature, it will pay you to start from the scratch as against buying a franchise.

First and foremost, it is your ability to mine or hash bitcoin that matters not a brand name.

Except you want to join a well-established bitcoin mining pool that fits into your business ideology.

Unfortunately, you can hardly find a franchise of a bitcoin mining pool – company to purchase meaning that if you want to own a bitcoin mining (pool) business, then you must be ready to start from the scratch.

This is so because the business is easy to start if you have the required expertise and it is still pretty much thriving and there are loads of opportunities available to aspiring entrepreneurs that are interested in the industry.

The truth is that it will pay you to start your bitcoin mining company from the scratch. Starting from the scratch will afford you the opportunity to conduct thorough market survey and feasibility studies before choosing a location to launch the business.

Please note that most of the big and successful bitcoin mining companies around started from the scratch and they were able to build a solid business brand.

Possible Threats and Challenges You Will Face When Starting a Bitcoin Mining Business

If you decide to start your own bitcoin mining business today, one of the major challenges you are likely going to face is the presence of well – established bitcoin mining companies who are offering same services that you intend offering. The only way to avoid this challenge is to create your own market.

Some other threats that you are likely going to face as a bitcoin mining company operating in the United States are hosting issues, installation or upkeep troubles, heat, unfavorable government policies, and global economic downturn which usually affects purchasing/spending power. There is hardly anything you can do as regards these threats other than to be optimistic that things will continue to work for your good.

Starting a Bitcoin Mining Business – Legal Matters

Best legal entity to use for this type of business

Generally, you have the options of either choosing a general partnership, limited liability company which is commonly called an LLC, or a sole proprietorship for a business such as a bitcoin mining company.

Ordinarily, general partnership should have been the ideal business structure for a small – scale bitcoin mining business especially if you are just starting out with moderate startup capital.

But people prefer limited liability Company for obvious reasons. As a matter of fact, if your intention is to grow the business and have clients both corporate and individual from all across the United States of America and other countries of the world, then choosing general partnership is not an option for you. Limited Liability Company, LLC will be highly suitable for you.

Setting up an LLC protects you from personal liability. If anything goes wrong in the business, it is only the money that you invested into the limited liability company that will be at risk. It is not so for sole proprietorships and general partnerships. Limited liability companies are simpler and more flexible to operate and you don’t need a board of directors, shareholders meetings and other managerial formalities.

These are some of the factors you should consider before choosing a legal entity for your bitcoin mining (pool) business; limitation of personal liability, ease of transferability, admission of new owners, investors’ expectation and of course taxes.

If you take your time to critically study the various legal entities to use for your bitcoin mining business, you will agree that limited liability company; an LLC is most suitable. You can start this type of business as limited liability company (LLC) and in future convert it to a ‘C’ corporation or an ‘S’ corporation especially when you have the plans of going public.

Catchy Business Name ideas Suitable for a Bitcoin Mining Company

Generally, when it comes to choosing a name for a business, it is expected that you should be creative because whatever name you choose for your business will go a long way to create a perception of what the business represents. Usually it is the norm for people to follow the trend in the industry they intend operating from when naming their business.

Insurance Policies

In the United States and in most countries of the world, you can’t operate a business without having some of the basic insurance policy covers that are required by the industry you want to operate from. So, it is imperative to create a budget for insurance policy covers and perhaps consult an insurance broker to guide you in choosing the best and most appropriate insurance policies for your bitcoin mining business.

Here are some of the basic insurance policy covers that you should consider purchasing if you want to start your own bitcoin mining business in the United States of America:

  • General insurance
  • Health insurance
  • Liability insurance
  • Workers compensation
  • Overhead expense disability insurance
  • Business owner’s policy group insurance
  • Payment protection insurance
  • Intellectual Property Protection/Trademark

If you are considering starting your own bitcoin mining business, usually you may not have any need to file for intellectual property protection/trademark. This is so because the nature of the business makes it possible for you to successfully run the business without having any cause to challenge anybody in court for illegally making use of your company’s intellectual properties.

Is Professional Certification Needed to Run a Bitcoin Mining Business?

Apart from the results you produce, professional certification is one of the main reasons why most bitcoin mining companies stand out.

If you want to make an impact in the Bitcoin industry, you should work towards acquiring all the needed certifications in your area of specialization.

Certification validates your competency and shows that you are highly skilled, committed to your career, and up-to-date in this competitive market.

These are some of the certifications you can work towards achieving if you want to run your own bitcoin mining company:

  • Certified Bitcoin Professional (CBP) | Crypto Currency Certification
  • Blockcerts Certification
  • Cryptocurrency certification
  • Ethereum certification
  • Blockchain professional certification

List of Legal Documents You Need to Run a Bitcoin Mining Company

These are some of the basic legal documents that you are expected to have in place if you want to legally run your own bitcoin mining business in the United States of America:

  • Certificate of Incorporation
  • Business License and Certification
  • Business Plan
  • Non – disclosure Agreement
  • Employment Agreement (offer letters)
  • Operating Agreement for LLCs
  • Insurance Policy
  • Contract documents
  • Online Privacy Policy Document (basically   for online payment portal)
  • Company Bylaws
  • Memorandum of Understanding (MoU)
  • Apostille (for those who intend operating beyond the United States of America) 

Financing Your Bitcoin Mining Company

Aside from the amount required to purchase bitcoin mining software and hardware, bitcoins and of course cryptocurrency and other forms of digital payment required to trade with, starting a bitcoin mining business can be cost effective especially if you choose to run the business from your home, share office space with a friend or make use of a virtual office.

Securing a standard office is part of what will consume a large chunk of your startup capital, but if you choose to start the business on a small scale, you may not have the need to go source for fund to finance the business.

When it comes to financing a business, one of the major factors that you should consider is to write a good business plan.

If you have a good and workable business plan document in place, you may not have to labor yourself before convincing your bank, investors and your friends to invest in your business.

Here are some of the options you can explore when sourcing for start – up capital for your bitcoin mining/trading business:

  • Raising money from personal savings and sale of personal stocks and properties
  • Sell of shares to interested investors
  • Pitching your business idea and applying for business grants and seed funding from donor organizations and angel investors
  • Source for soft loans from your family members and your friends

Choosing a Suitable Location for your Bitcoin Mining Business

Bitcoin mining business and most internet service based type of businesses do not require that you see physically with your clients, hence the location you chose does not necessarily need to be top-notch.

But the fact that you can operate your bitcoin mining business from your home does not mean that location has little influence on the success of a bitcoin mining company.

If you have taken your time to study the bitcoin mining and other internet based businesses, you will realize that they are willing to pay expensive rents in order to stay in an ICT hub; a place with pretty strong internet network and of course a place where ICT activities are at its peak.

It is important to note that a business facility in a good location does not come cheap hence you should be able to allocate enough fund for leasing/renting in your budget.

If you are new to the dynamics of choosing a location for a business such as bitcoin mining business, then you should feel free to talk to a business consultant or a realtor who has a full grasp of the city and perhaps country you intend starting your company.

So, if you are looking for a location for your bitcoin mining company, ensure that it is a place that is located in an ICT hub; a place with pretty strong internet network and of course a place where ICT activities are at its peak.

Of course, you would not want to locate this type of business in the outskirts of town or a place without strong internet network. Your clients should be able to drive down and locate your office with little or no difficulty.

Starting a Bitcoin Mining Business – Technical and Manpower Details

In order to successfully launch a bitcoin mining business, you will definitely need bitcoin mining software apps and hardware such as Application-specific integrated circuit (ASIC) machines and other cryptocurrency and digital payment system related software apps and wallet.

So also, you will need computers, internet facility, telephone, fax machine and office furniture (chairs, tables, and shelves).

When it comes to choosing between renting and leasing an office space, the size of the bitcoin mining company you want to build, and your entire budget for the business should influence your choice.

If you have enough capital to run a standard bitcoin mining company, then you should consider the option of leasing a facility for your office.

As regards the number of employees that you are expected to kick start the business with, you would need to consider your finance before making the decision.

Averagely, you would need a Chief Executive Officer or President (you can occupy this role), an Admin and Human Resource Manager, Bitcoin Miners and Hashers, Programmers and Software Developers, Business Development Executive/marketing Executive, Customer Service Officer or Front Desk Officer, and Accountant.

Over and above, you would need a minimum of 8 key staff to effectively run a medium scale but standard bitcoin mining company.

Please note that there will be times when you are expected to go out of your way to hire experts to help you handle some high – profile internet based currency consultancy contracts especially from big corporations.

If you are just starting out, you may not have the financial capacity or required business structure to retain all the professionals that are expected to work with you which is why you should make plans to partner with other programmers and software app developers and computer engineers that operates as freelancers.

The Service Delivery Process of a Bitcoin Mining Company

It is the tradition in the cryptocurrency industry for bitcoin miners to help keep the Bitcoin network secure by approving transactions.

The truth is that mining is an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and secure.

In the cryptocurrency and other forms of digital payment system industry, bitcoin miners use special software to solve math problems and are issued a certain number of bitcoins in exchange. This provides a smart process of issuing the currency and also creates an incentive for more people to mine.

For instance, when a block is discovered, the miners are rewarded a certain number of bitcoins, which is agreed-upon by everyone in the network.

Currently the reward is 6.25 bitcoins and this value will halve every 210,000 blocks.

Additionally, the bitcoin miner is awarded the fees paid by users sending transactions. The fee is an incentive for the bitcoin miner to include the transaction in their block.

It is important to state that a bitcoin mining (pool) company may decide to improvise or adopt any business process and structure that will guarantee them efficiency and flexibility; the above stated business cum services process is not cast on stone.

Starting a Bitcoin Mining Business – The Marketing Plan

Marketing ideas and strategies

As a bitcoin mining company, you would have to prove your worth over and over again before you can be awarded any bitcoin mining and hashing contracts from corporate clients.

So, if you have plans to start your own bitcoin mining company, it will pay you to first build a successful career in the digital payment system industry.

People and organizations will hire your services to help them handle all their bitcoin mining and hashing needs if they know that they are going to get good returns on their investment.

So, when you are drafting your marketing plans and strategies for your bitcoin mining company, make sure that you create a compelling personal and company profile.

Aside from your qualifications and experience, it is important to clearly state in practical terms what you have been able to achieve in time past as it relates to the cryptocurrency industry and the organizations you have worked for in time past.

This will help boost your chances in the market place when sourcing for bitcoin mining and hashing contracts.

Businesses these days are aware of the power of the internet and which is why they will do all they can to maximize the internet to market their services.

In other words, a larger percentage of your marketing efforts should be directed to internet users.

Here are some of the platforms you can utilize to market your bitcoin mining company:

  • Introduce your business by sending introductory letters alongside your brochure to all the bitcoin exchange and trading companies and bitcoin traders, programmers, investors, and internet – business oriented people and organizations within and outside the United States
  • Promptness in bidding for bitcoin mining and hashing contracts from bitcoin exchange and trading companies cum bitcoin traders, programmers, investors, and internet – business oriented people and organizations within and outside the United States
  • Advertise your business in relevant programming magazines, radio and TV stations (make yourself available for bitcoin mining and cryptocurrency related talk shows and interactive sessions on TV and Radio)
  • List your business on local directories
  • Attend international bitcoin mining and cryptocurrency related seminars and business fairs
  • Create different packages for different category of clients in order to work with their budgets
  • Join related associations around you with the main aim of networking and marketing your services; you are likely going to get referrals from such networks
  • Engage the services of online marketing executives and business developers to carry out direct marketing

Factors That Will Help You Get the Right Product Pricing

Some of the key factors that will help you mine or hash bitcoin in a profitable pricing system is to ensure that you work with highly talented programmers and mathematicians in your bitcoin mining pool.

You should also ensure that you get your bitcoin mining software and hardware at good deal not forgetting to run your maintenance as at when due.

Another strategy that will help you offer your bitcoin mining and hashing services at the right price is to ensure that you cut operational and maintenance cost to the barest minimum, and channel your efforts towards marketing and promoting your brand name.

Aside from the fact that this strategy will help you save cost, it will also help you get the right pricing for your products.

Strategies to Boost Your Bitcoin Mining Brand Awareness and Create Your Corporate Identity

If your intention of starting a bitcoin mining company is to grow the business beyond the city where you are going to be operating from to become a national and international brand, then you must be ready to spend money on promotion and advertisement of your brand.

In promoting your brand and corporate identity, you should leverage on both print and electronic media and also social media (the internet).

As a matter of fact, it is cost effective to use the internet and social media platforms to promote your brands, besides it is pretty much effective and wide reaching.

Another strategy is to sponsor relevant programmer/ICT based programs, TV and radio programs, advertise your business in relevant magazines and newspapers. Below are the platforms you can leverage on to boost your brand and to promote and advertise your business.

Place adverts on ICT magazines and related newspapers, radio and TV stations

Encourage the use of word of mouth publicity from your loyal customers

Leverage on the internet and social media platforms like YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Badoo, Google+ and other platforms to promote your business

Ensure that you position your banners and billboards in strategic positions all around your city

Distribute your fliers and handbills in target areas in and around our neighborhood

Contact bitcoin exchange and trading companies cum bitcoin traders, programmers, investors, and internet – business oriented people and organization within and outside the United States by calling them up and informing them of your organization and the bitcoin mining and hashing services you offer

Advertise your business in your official website and employ strategies that will help you pull traffic to the site

Brand all your official cars and ensure that all your staff members wear your branded shirt or cap at regular intervals.


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Bitcoin (BTC) :

1P1tTNFGRZabK65RhqQxVmcMDHQeRX9dJJ


LiteCoin(LTC) :

LYAdiSpsTJ36EWCJ5HF9EGy9iWGCwoLhed


Ethereum(ETH) :

0x602e8Ca3984943cef57850BBD58b5D0A6677D856


EthereumClassic(ETC) :

0x602e8Ca3984943cef57850BBD58b5D0A6677D856


Cardano(ADA) :

addr1q88c5cccnrqy6xesszzvf7rd4tcz87klt0m0h6uvltywqe8txwmsrrqdnpq27594tyn9vz59zv0n8367lvyc2atvrzvqlvdm9d


BinanceCoin(BNB) :

bnb1wwfnkzs34knsrv2g026t458l0mwp5a3tykeylx


BitcoinCash (BCH)

1P1tTNFGRZabK65RhqQxVmcMDHQeRX9dJJ


Bitcoin SV (BSV)

1P1tTNFGRZabK65RhqQxVmcMDHQeRX9dJJ


ZCash(ZEC) :

t1fSSQX4gEhove9ngcvFafQaMPq5dtNNsNF


Dash(DASH) :

XcWmbFw1VmxEPxvF9CWdjzKXwPyDTrbMwj


Shiba(SHIB) :

0x602e8Ca3984943cef57850BBD58b5D0A6677D856


Tron(TRX) :

TCsJJkqt9xk1QZWQ8HqZHnqexR15TEowk8


Stellar(XLM) :

GBL4UKPHP2SXZ6Y3PRF3VRI5TLBL6XFUABZCZC7S7KWNSBKCIBGQ2Y54



Shared with 💚 by Free Spirit

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