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High-tech EEG brain sensing devices and software solutions for real-world #humanbehaviourresearch, #health and #neurotechnology development. #BCI

Bitbrain

bitbrain

In today's fast-paced technological landscape, the integration of robotics has emerged as a game-changer for industries across the globe. From manufacturing plants to healthcare facilities, robots ...

The Rise of Robotics: Automating Industries for Efficiency and Precision

SINGAPORE, Singapore, January 15th, 2024/Chainwire/--$ZKL token realizes high-performance DeFi through zkLink’s cutting-edge zero-knowledge rollup infrastructure and newly launched Nexus platform. zkLink, a trailblazer in the zero-knowledge blockchain sector, today announced the release date for its new token, $ZKL. Following the on , $ZKL will be available to users starting Thursday, January 25, 2024, at 18:00 UTC. Community Token Sale Coinlist The launch of the $ZKL token, the native utility and governance token for the zkLink protocol, is a significant milestone in zkLink’s mission to eliminate the liquidity fragmentation issues present in the Layer 2 (L2) ecosystem. $ZKL serves as a resource that allows developers to easier access the zkLink rollup infrastructure service, including the zero-knowledge (ZK) proof markets; govern the protocol’s development through the zkLink DAO; and pay for ZK proof computational resources. “We look forward to presenting the community with an asset that allows them to help shape the zero-knowledge rollup ecosystem’s direction in 2024,” commented Vince Yang, Co-founder, zkLink. “As outlined in our 2024 Technical Roadmap, we have several key developments planned to encourage our community to be more involved in building dApps that enable smoother, lower-cost DeFi experiences.” The $ZKL token joins the list of native tokens and multi-chain assets across the connected L1s and L2s, including FTs and NFTs that users can trade on a unified user interface. It will be a non-inflationary ERC20 token issued on the Ethereum Mainnet with token supply capped at 1 billion. $ZKL will serve as the default payment token for ZK proof generation services and users can obtain DAO voting rights by staking to obtain veZKL. Along with announcing the upcoming $ZKL token sale, zkLink recently released details on major upcoming updates to its protocol, highlighted in the . Users can learn more in zkLink’s about how multi-chain ZK-Rollup infrastructure serves as a solution to unify fragmented liquidity across ecosystems and return pricing power to decentralized exchanges (DEXs). 2024 Technical Roadmap new whitepaper About zkLink develops zero-knowledge blockchain infrastructure solutions for high-performance ZK zkLink applications. Its flagship zero-knowledge Layer-3 blockchain solution, Nexus, is designed to bridge the gap among different zk-Rollup Layer-2 ecosystems to reduce liquidity fragmentation while providing security and scalability via zk-Proofs. zkLink is funded by notable backers including Coinbase Ventures, Ascensive Assets, SIG DTI, BigBrain Holdings, Efficient Frontier, and others. For more information, users can visit zkLink's: | Official Website Twitter About zkLink Nexus zkLink Nexus is a Layer 3 solution for native crypto assets from zkRollups, such as zkSync, StarkNet, Scroll, Linea, Taiko, or the Polygon zkEVM, in the Ethereum Layer-2 ecosystem. Now developers looking to deploy their project on Layer 2s no longer need to worry about fragmented liquidity, chain-specific deployments, security risks, or high costs that can result from transferring assets between ecosystems. Contact Patrick Jordan zklink@mgroupsc.com This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here.

zkLink Reveals Public Registration Date For $ZKL Token

August marks a significant milestone for as we introduce a refined mission and new flagship protocol. decent.land Our journey started in 2021 with a vision to build social and identity primitives on Arweave. The first public app under the decent.land name – a way to create a permanent username on Arweave – evolved into ANS, and as the expansive web3 social landscape matured, we developed Ark Protocol. enables identities from any chain to transfer their reputation into the Arweave social ecosystem. We have always maintained our belief that while Arweave is the perfect chain for storage, it needs infrastructure for deeper interoperability with the broader universe of web3. Ark Reborn as , we're focused on breaking down barriers between chains and protocols. We believe in the principle of radical composability - a future where data and applications are seamlessly interconnected, not isolated in digital siloes. Decent Land Labs Freedom and ownership was web1’s promise, broken by web2 – a mistake we’re determined not to replicate. The future is . multi-chain, interconnected and open THE MISSION The future is multi-chain, but a multitude of walled gardens is no improvement over the web2 conditions we seek to escape. The new web will be built on a pool of easily accessible data that can power permanent applications without sacrificing UX. We recognize the steep learning curve associated with web3 dApps, which often require users to manage keys, buy gas and grasp alien concepts. This can deter mainstream web2 developers and users. Therefore, we are dedicated to enhancing the user experience, making it more intuitive and accessible for everyone. Recognizing both the potential of web3 and the challenges it presents, we pivoted into building solutions to make web3 more accessible, to improve interoperability across different blockchains, and to enhance dApp UX. We hope our new flagship protocol, the , will help bring this vision to reality. Molecular Execution Machine ANNOUNCING THE MOLECULAR EXECUTION MACHINE MEM is a developer platform designed to facilitate the building, testing, and deploying of serverless functions that leverage blockchain technology. MEM gives developers high scalability and rapid execution while abstracting away complex crypto concepts and the need for an in-depth understanding of smart contracts, transactions, wallets, or blocks. We built MEM towards our mission of making it easier for developers to build chain-agnostic, UX-optimized dApps on the Arweave storage layer. Protocols like , , , and are built on MEM and have been its testing grounds. ANS Ark Permacast namespace.gg Now we’re ready to let it out into the wild. Over the last two years, we’ve learned a lot by building quickly in multiple directions and shipping tooling needed by projects like ours. Decent Land Labs will narrow its focus to developing and maintaining 4 core products: FOCUS PROTOCOLS (private beta) - Molecular Execution Machine (private beta). Chain agnostic smart contracts, secured by Arweave Molecular Execution Machine (private beta) - Spin up any TLD name service for your DAO, dApp or protocol. namespace.gg (V3 nearing release) - Multi-chain identity linking protocol to power identity, reputation and social graphs. Ark Protocol (V1) Your identity for the permaweb – .ar domains. Arweave Name Service Our focus protocols aim to make web3 fast, accessible and interoperable, creating an ecosystem where data and identity can flow freely, no matter the chain. THE FUTURE A few exciting things that are in the pipeline to share: Decent Land Labs is currently raising their seed round that has been led by LD Capital, Longhash Ventures, BigBrain VC and Foresight Ventures to fuel the development of the core protocols. will soon deploy DIDs for their authors (.hackernoon domains) Hackernoon namespace.gg MEM is has already built integrations to enable encrypted read/write, fiat payment processing and a dashboard for API/resource management. Our makes MEM easily extensible, more features and new molecules will be rolled out on a regular basis. molecule.sh Follow the us on the and come chat with the team in or X app Discord Telegram Thank you for letting us reintroduce ourselves!! - The DLL Team Also published . here

Welcome to Decent Land Labs

De las cenizas, renace Decent Land Labs

De ses cendres, Decent Land Labs renaît

राख से, डिसेंट लैंड लैब्स का पुनर्जन्म हुआ है

灰の中から、Decent Land Labs が生まれ変わる

Das cinzas, Decent Land Labs renasce

Từ đống tro tàn, Decent Land Labs được tái sinh

Decent Land Labs 浴火重生

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The 35 Best AI Newsletters on Beehiiv

BTC Layer2 project BEVM has officially disclosed an investment from Bitmain, the leading manufacturer of cryptocurrency mining servers globally. The precise amount of the investment remains undisclosed. Established in 2013, Bitmain still stands today as a significant figure in the digital asset mining hardware production space. Its Bitcoin mining machines previously commanded over 70% of the global market share. Notably, this marks Bitmain's sole investment in the Bitcoin Layer2 domain to date. Gavin Guo, Core Builder of BEVM Foundation, remarked, "Next, BEVM will delve into exploring Bitcoin hashrate and the PoW ecosystem's application on BEVM, that could help facilitate the migration of trillions of dollars in PoW hashrate assets and a substantial quantity of $BTC to BEVM. This will empower Bitmain assets and unlock liquidity and more diverse financial application scenarios within the BTC Layer2 network." BEVM serves as the pioneer EVM-compatible Bitcoin L2 network founded on the Taproot Consensus, utilizing BTC as Gas. Leveraging native Bitcoin technologies such as Schnorr Signature, MAST, and Bitcoin Light Node Network, it achieves fully decentralized BTC cross-chain functionality, thereby enabling the trustless integration of BTC into a broader spectrum of applications and facilitating genuine BTC liquidity circulation. BEVM launched its mainnet on March 28th, boasting over 700,000 user addresses and hosting more than 30 ecosystem projects. BEVM also recently announced it had secured tens of millions of dollars in financing, with investors including RockTree Capital, Waterdrip Capital, Arkstream Capital, ViaBTC Capital, and nearly 20 other institutions, resulting in a post-investment valuation of $200 million for the company. For further information about BEVM, please visit www.bevm.io or contact business@bevm.io Media Contact: Jhon Zhang Email: business@bevm.io This story was distributed as a release by Btcwire under HackerNoon’s Brand As An Author Program. Learn more about the program here: https://business.hackernoon.com/brand-as-author BTC Layer2 project BEVM has officially disclosed an investment from Bitmain, the leading manufacturer of cryptocurrency mining servers globally. The precise amount of the investment remains undisclosed. Established in 2013, Bitmain still stands today as a significant figure in the digital asset mining hardware production space. Its Bitcoin mining machines previously commanded over 70% of the global market share. Notably, this marks Bitmain's sole investment in the Bitcoin Layer2 domain to date. Gavin Guo, Core Builder of BEVM Foundation, remarked, "Next, BEVM will delve into exploring Bitcoin hashrate and the PoW ecosystem's application on BEVM, that could help facilitate the migration of trillions of dollars in PoW hashrate assets and a substantial quantity of $BTC to BEVM. This will empower Bitmain assets and unlock liquidity and more diverse financial application scenarios within the BTC Layer2 network." Gavin Guo, Core Builder of BEVM Foundation, remarked, "Next, BEVM will delve into exploring Bitcoin hashrate and the PoW ecosystem's application on BEVM, that could help facilitate the migration of trillions of dollars in PoW hashrate assets and a substantial quantity of $BTC to BEVM. This will empower Bitmain assets and unlock liquidity and more diverse financial application scenarios within the BTC Layer2 network." BEVM BEVM Bitmain Bitmain BEVM serves as the pioneer EVM-compatible Bitcoin L2 network founded on the Taproot Consensus, utilizing BTC as Gas. Leveraging native Bitcoin technologies such as Schnorr Signature, MAST, and Bitcoin Light Node Network, it achieves fully decentralized BTC cross-chain functionality, thereby enabling the trustless integration of BTC into a broader spectrum of applications and facilitating genuine BTC liquidity circulation. BEVM launched its mainnet on March 28th, boasting over 700,000 user addresses and hosting more than 30 ecosystem projects. BEVM also recently announced it had secured tens of millions of dollars in financing, with investors including RockTree Capital, Waterdrip Capital, Arkstream Capital, ViaBTC Capital, and nearly 20 other institutions, resulting in a post-investment valuation of $200 million for the company. announced announced For further information about BEVM, please visit www.bevm.io or contact business@bevm.io www.bevm.io www.bevm.io business@bevm.io business@bevm.io Media Contact: Jhon Zhang Email: business@bevm.io This story was distributed as a release by Btcwire under HackerNoon’s Brand As An Author Program. Learn more about the program here: https://business.hackernoon.com/brand-as-author This story was distributed as a release by Btcwire under HackerNoon’s Brand As An Author Program. Learn more about the program here: https://business.hackernoon.com/brand-as-author Btcwire https://business.hackernoon.com/brand-as-author https://business.hackernoon.com/brand-as-author

Bitcoin Layer2 BEVM Announces Investment From Bitmain

I’m going to focus mostly on some design decisions and also how I went about writing an SPI interface using Go on a Raspberry Pi. I assume my readers have a basic understanding of what a Raspberry Pi is, and how basic electronics work. If not, read on anyway and I will be sure to include some valuable resources below. Why Go? In a past life, I worked on hardware interfacing software. The first thing I can certainly tell you is that I hate C. Don’t get me wrong, I understand the appeal of having lightning-fast code. Also, the ability to manipulate memory and low-level functions is useful. I also understand the headache of writing concurrent C code, and anyone familiar with Go knows that this is where it shines. The project that first got me interested in using Go for embedded applications was one where we decided to use a Raspberry Pi Compute Module 3 to interact with ADC (analog to digital converter) components, and collect data using several of these components. I quickly threw together a prototype in Python using the standard , and was satisfied with the initial results. It was apparent however that for a more industrial solution we needed an application that was: Python GPIO library — Able to support more operations per second at lower memory and CPU usage. Faster — We didn’t want anyone to be able to pop out the Compute Module and steal our source code. Compiled — We had a very small team, and none of us were very experienced with firmware so we wanted to abstract up a bit if possible. Maintainable I considered C++ at first. C++ is about as fast as it gets, and is a compiled language. I’m quite comfortable in C++ and have written many applications using it, but we ultimately decided on Go instead for the simple fact the concurrent programming in Go is as easy as it gets. C++ may run a bit faster, but we knew that if we wrote this particular program in Go, it would likely be about half the size (in lines of code) and we were more confident in our ability to keep the code clean and maintainable. It is important to note that the program in question was doing a lot more than just the data collection via SPI interface with an ADC component. There were user inputs, data displays, etc. It was to be a highly concurrent program. What is SPI? SPI stands for serial peripheral interface. I don’t want to get too far off track, but basically it is just a protocol for a master (your program) to communicate with the hardware (like a thermometer or analog to digital converter). If you want to learn more check out the link in the picture’s caption. My Environment Device: Raspberry Pi 3B (We used the compute module for production) IDE: VS Code Remote Editing: Check out this tutorial to edit code on the pi using VS Code remotely Hardware: Breadboard, jumper wires, an ADC that uses an SPI interface OS: Raspbian Implementation First things first, I needed a great GPIO package. For this project, we built the code to be able to use any of the GPIO pins on the Pi. I used Dave Cheney’s library: https://github.com/davecheney/gpio The code below should build and run. Please keep in mind that if you are going to use this code, you will need to change the pin numbers to match the pins you used to connect your GPIOs to your ADC. main ( ) AdcRead {
	Cs          gpio.Pin
	Clock       gpio.Pin
	Miso        gpio.Pin
	NumBits ResultsChan } { reader.Cs.Clear() result i := ; i < reader.NumBits; i++ { reader.Clock.Set() bit := reader.Miso.Get() bit {
			result |= } i != reader.NumBits {
			result <<= } reader.Clock.Clear()
	} reader.Cs.Set() reader.ResultsChan <- result
} { csPinNumber = clockPinNumber = misoPinNumber = csPin, err := gpio.OpenPin(csPinNumber, gpio.ModeOutput) err != {
		fmt.Printf( , err)
	}
	clockPin, err := gpio.OpenPin(clockPinNumber, gpio.ModeOutput) err != {
		fmt.Printf( , err)
	}
	misoPin, err := gpio.OpenPin(misoPinNumber, gpio.ModeInput) err != {
		fmt.Printf( , err)
	}

	resultsChan := ( , )

	adcReader := AdcRead{
		Cs:          csPin,
		Clock:       clockPin,
		Miso:        misoPin,
		NumBits: , ResultsChan: resultsChan,
	} c := time.Tick(time.Duration( ) * time.Millisecond) { c {
			adcReader.Exec()
		}
	}() {
		result := <-resultsChan
		fmt.Println(result)
	}
} package import "fmt" "time" "github.com/davecheney/gpio" // AdcRead represents the data needed to perform a read operation on the ADC component type struct int chan uint32 // Exec reads the current value stored in the ADC register func (reader AdcRead) Exec () // Start the CS Low to begin the read // Initialize an impty uint32 to store the value we are reading var uint32 // Loop over each bit the the component sends back (The number depends varies from // component to component, read the datasheet) for 0 // Set the clock to logic high // Read 1 bit in, if it is high, then add a "1" to our rightmost bit if 0x1 // Shift Left to get to the next bit to be read if -1 1 // The clock will pulse low, then high again to get the next bit // Set chip select low to end the read // Send the result back through the channel to whatever part of our // application cares about it func main () // Open necessary pins. The numbers here are examples, they should be changed based // on which pins you use const 5 const 6 const 7 if nil "Error opening cs pin: %v\n" if nil "Error opening clock pin: %v\n" if nil "Error opening miso pin: %v\n" make chan uint32 1 32 // Our ADC component sends a 32 bit value // Execute each read at 10 Hz 100 go func () for range // Print everything that comes through the results channel for true View repository: https://github.com/lane-c-wagner/spi Thanks For Reading Lane on Twitter: @wagslane Lane on Dev.to: wagslane Download Qvault: https://qvault.io Star our Github: https://github.com/q-vault/qvault

BitBanged Serial Peripheral Interface in Go on Raspberry Pi [Explained]

I’m going to focus mostly on some design decisions and how I went about writing an SPI interface using Go on a Raspberry Pi. I assume my readers have a basic understanding of what a Raspberry Pi is, and how basic electronics work. If not, read on anyway and I will be sure to include some valuable resources below. Why Go? In a past life, I worked on hardware interfacing software, and the first thing I can tell you is that I hate C. Don’t get me wrong, I understand the appeal of having lightning-fast code and the ability to manipulate memory and low-level functions. I also understand the headache of writing concurrent C code, and anyone familiar with Go knows that this is where it shines. The project that first got me interested in using Go for embedded applications was one where we decided to use a Raspberry Pi Compute Module 3 to interact with ADC (analog to digital converter) components, and collect data using several of these components. I quickly threw together a prototype in Python using the standard , and was satisfied with the initial results. It was apparent however that for a more industrial solution we needed an application that was: Python GPIO library — Able to support more operations per second at lower memory and CPU usage. — We didn’t want anyone to be able to pop out the Compute Module and steal our source code. — We had a very small team, and none of us were very experienced with firmware so we wanted to abstract up a bit if possible. Faster Compiled Maintainable I considered C++ at first. C++ is about as fast as it gets, and is a compiled language. I’m quite comfortable in C++ and have written many applications using it, but we ultimately decided on Go instead for the simple fact the concurrent programming in Go is as easy as it gets. C++ may run a bit faster, but we knew that if we wrote this particular program in Go, it would likely be about half the size (in lines of code) and we were more confident in our ability to keep the code clean and maintainable. It is important to note that the program in question was doing a lot more than just the data collection via SPI interface with an ADC component. There were user inputs, data displays, etc. It was to be a highly concurrent program. What is SPI? http://www.circuitbasics.com/basics-of-the-spi-communication-protocol/ SPI stands for serial peripheral interface. I don’t want to get too far off track, but basically it is just a protocol for a master (your program) to communicate with the hardware (like a thermometer or analog to digital converter). If you want to learn more check out the link in the picture’s caption. My Environment Device: Raspberry Pi 3B (We used the compute module for production) IDE: VS Code Remote Editing: Check out this tutorial to edit code on the pi using VS Code remotely Hardware: Breadboard, jumper wires, an ADC that uses an SPI interface OS: Raspbian Implementation First things first, I needed a great GPIO package. For this project, we built the code to be able to use any of the GPIO pins on the Pi. I used Dave Cheney’s library: https://github.com/davecheney/gpio The code below should build and run. Please keep in mind that if you are going to use this code, you will need to change the pin numbers to match the pins you used to connect your GPIOs to your ADC. <code style="box-sizing: border-box; font-family: Consolas, &quot;Andale Mono WT&quot;, &quot;Andale Mono&quot;, &quot;Lucida Console&quot;, &quot;Lucida Sans Typewriter&quot;, &quot;DejaVu Sans Mono&quot;, &quot;Bitstream Vera Sans Mono&quot;, &quot;Liberation Mono&quot;, &quot;Nimbus Mono L&quot;, Monaco, &quot;Courier New&quot;, Courier, monospace; color: rgb(255, 255, 255); background-color: transparent; border: 0px; padding: 0px; font-size: 0.85em; border-radius: 3px;">package main (
	"fmt"
	"time"

	"github.com/davecheney/gpio"
)

// AdcRead represents the data needed a operation the ADC component AdcRead struct {
	Cs          gpio.Pin
	Clock       gpio.Pin
	Miso        gpio.Pin
	NumBits ResultsChan chan uint32
}

// Exec reads the stored the ADC register
func (reader AdcRead) Exec() {
	// the CS Low the reader.Cs.Clear()

	// Initialize an impty uint32 store the we are reading
	var result uint32

	// the the component sends back (The number varies // component component, the datasheet) i := ; i &lt; reader.NumBits; i++ {

		// the clock logic high
		reader.Clock. ()

		// , it high, a "1" our rightmost := reader.Miso. () {
			result |= }

		// Shift Left the next be i != reader.NumBits {
			result &lt;&lt;= }

		// The clock will pulse low, high again the next reader.Clock.Clear()
	}

	// chip low the reader.Cs. ()

	// Send the result back through the channel whatever part our
	// application cares about it
	reader.ResultsChan &lt;- result
}

func main() {
	// necessary pins. The numbers here are examples, they should be changed based
	// which pins you use
	const csPinNumber = const clockPinNumber = const misoPinNumber = csPin, err := gpio.OpenPin(csPinNumber, gpio.ModeOutput) err != nil {
		fmt.Printf("Error opening cs pin: %v\n", err)
	}
	clockPin, err := gpio.OpenPin(clockPinNumber, gpio.ModeOutput) err != nil {
		fmt.Printf("Error opening clock pin: %v\n", err)
	}
	misoPin, err := gpio.OpenPin(misoPinNumber, gpio.ModeInput) err != nil {
		fmt.Printf("Error opening miso pin: %v\n", err)
	}

	resultsChan := make(chan uint32, )

	adcReader := AdcRead{
		Cs:          csPin,
		Clock:       clockPin,
		Miso:        misoPin,
		NumBits: , // Our ADC component sends a ResultsChan: resultsChan,
	}

	// at Hz
	c := .Tick( .Duration( ) * .Millisecond)
	go func() { range c {
			adcReader.Exec()
		}
	}()

	// Print everything that comes through the results channel {
		result := &lt;-resultsChan
		fmt.Println(result)
	}
}</code> import to perform read on type int current value in Start to begin read to value Loop over each bit depends from to read for 0 Set to Set Read 1 bit in if is then add to bit bit Get if bit 0x1 to get to bit to read if -1 1 then to get bit Set select to end read Set to of Open on 5 6 7 if if if 1 32 32 bit value Execute each read 10 time time 100 time for for true View repository: https://github.com/lane-c-wagner/spi Thanks For Reading Lane on Twitter: @wagslane Lane on Dev.to: wagslane Download Qvault: https://qvault.io Star our Github: https://github.com/q-vault/qvault (Originally published ) here ( : ) Disclaimer The Author is the Founder at qvault

BitBanged SPI in Go [Explained]

Bitmain co-founders Micree Zhan Off to Build A New Mining Business and Jihan Wu to a New Blockchain Company called Matrix Today, Odaily, a Chinese media site, reported that a mining farm led by the cofounder of Bitmain Micree Zhan suddenly appeared in Sichuan, China. People speculated whether Micree was returning to mining after leaving the Bitmain CEO’s role. However, according to sources, this is probably a development that came out of Bitmain ’s “joint mining” strategy since the bear market last year. It is worth noting that this is a huge deployment. It is reported that Zhan hurriedly deployed 100,000 mining units in the first two months before the arrival of the flood season, to purely mining Bitcoin. If it is fully loaded, 100,000 sets of mining machines will be equivalent to 1.33EH/s, which accounts for about 3% of Bitmain’s total network computing power, and is equivalent to the sum of Huobi mining pool power. For the past six months, the cryptocurrency space has been in a downward trend, and most of the companies associated with it have endured poor financials. Three major miners such as Bitmain, Canaan, and Ebang International went to Hong Kong to apply for IPO last year, with a goal to expand financing channels. But as of now, the IPO applications of the latter two miners have expired, and the results of Bitmain are unpredictable. At the end of last year, Odaily reported that Micree Zhan and Jihan had simultaneously resigned as CEO positions in Bitmain. Subsequently, Bitmain continued to decline along with Bitcoin prices, with large-scale demolition of its mines, layoffing 50% of its employees, and so on. Bitmain official rarely reveals its true operating status, latest developments, etc., so it is difficult for the outside world to really understand what’s happening. But at this year’s annual company meeting, a photograph showed that Micree Zhan covering his face and weeping, and Jihan standing beside him comforting him. Perhaps, this image can show how complex and bitter the situation is for Bitmain. On March 4th, Odaily inquired about Micree Zhan’s Sichuan Mining farm with Bitmain. Their response was: “it’s just a general commercial cooperation between companies, please focus on the business relationship, not personal history.” Bitmain’s 100,000 mining machines are in preparation for China’s flood season, with Micree Zhan taking over the responsibility “Zhan came out to create a mining farm in Sichuan with 160,000 loads, 100,000 mining units.” A mining insider named Zhao Yiming (a pseudonym) revealed. In the past two months, Bitmain has been demolishing, selling machines, and conducting mass layoffs. But on the other hand, the company is still on the move. According to industry data, on November 22, 2018, a company named Hainan Continental Ark Data Technology Co., Ltd. (hereinafter referred to as “Ark”) was incorporated in Hainan, China, with a registered capital of 30 million RMB and a person named Wang Ming accounting for 100% of the ownership. Two months later, Fujian Chuangke Technology Co., Ltd. (hereinafter referred to as “Fujian Chuangke”) joined and acquired 40% of Ark. Fujian Chuangke is a 100% shareholding company owned by Bitmain, and Micree Zhan is designated as both of their legal representatives. And joined by Fujian Chuangke also came Micree Zhan, who served as the company’s executive since January 29 this year. It is suggested that Ark is behind the mining farm in Sichuan referred by Zhao Yiming. Zhao Yiming said that the cost of electricity for Bitmain domestically in China was generally really high. Recently, they finally found a way to get cheap electricity prices in Sichuan. The mines are to be deployed in Sichuan using hydropower, and it is expected to begin operations in May. May is the peak flood period of Sichuan, the cost of electricity can be less than two cents RMB or $0.07. In recent years, every time after the Spring Festival/Chinese New Year, there are always a large number of mines chasing low electricity prices by moving to Sichuan. Odaily also learned that the mines under Micree will run the Ant mining machine S11 and the 15 models (S15 and T15), both of which are Bitmain-owned mines. Bitmain’s Joint Mining Model and Its Effort to Become Asset Light So what does this new mining pool mean for Bitmain? In December last year, Odaily reported that the Bitmain was looking to carry out Joint Mining partnerships, that is, a partnership in which a partner provides electricity and mining farm setup, and Bitmain provides its mining machines. This is the way Bitmain is looking to get rid of its inventory, in order to preserve capital during crypto winter. A person familiar with the matter said: “The companies that cooperate with Bitmain also need to advance the electricity bill to reduce the capital investment in Bitmain.” However, for such a model, mine owner Lu Yuan (pseudonym) has revealed that the progress has not been smooth: “In this model, Bitmain only provides machines and does not pay a deposit, so, so far few mine owners are willing to cooperate.” Lu Yuan said. While the mining pools are unwilling to cooperate with Bitmain, apparently outsiders are willing. Before the Spring Festival in early February, some industry insiders revealed that an executive from the real estate industry had already agreed to cooperate with Bitmain to mine. It is worth noting that Ark, the company now run by Micree, is likely cooperating with Bitmain under this “Joint Mining” model. On March 4th, Odaily ask Bitmain on this matter, and its official response was that : “It’s just a general commercial cooperation between companies, please focus on the business relationship, not personal history.” In addition, Wang Ming, the largest shareholder of the company Ark, is also unknown to the mining community, and is likely to be a person outside the community. Turning to An Asset-Light Model Amid Crypto Winter At the moment, Bitmain is experiencing the most serious dilemma since its inception. According to publicly available data, on January 28th, Bitmain’s Ant pool and BTC.com accounted for 25% of Bitcoin’s computing power, which was once more than 50%. In December last year, Bitmain saw over 50% of the layoffs, nearly 1,700 people, and all BCH employees were fired. According to a report by Texas local media in December, Bitmain has stopped its mining business in Texas when just five months ago, it announced that it would create 400 jobs and invest $500 million USD in the city. And according to news at the end of last year, Bitmain will cut all the mining operations: “There are at most 10 people left to do some light asset operations”.Nevertheless, after all this time, it seems that the Bitmain mining business has not stopped but rather that it has changed to the “joint mining” method with less capital intensive investments. Lu Yuan revealed to Odaily that Bitmain has been trying to generate cash flow. As early as the end of December last year, people familiar with the matter said that Bitmain was working on a cloud computing platform for a customer called BitDeer, and it will sell its mining machines, electricity and maintenance costs together as a package to the customer in exchange for cash flow. For the adjustment of the Bitmain business, Lu Yuan said: “Before Jihan Wu was responsible for the mining pool, but it wasn’t run professionally- they had a bunch of people sitting doing nothing and also they couldn’t find cheap electricity, operation and maintenance wasn’t good either. Now they are separating the mining farm out of Bitmain and are managed by co-founder Micree Zhan.” With layoffs, joint mining models, selling cloud computing power, and divesting its mining businesses, Bitmain looks to make its original heavy asset model as light as possible and create a steady stream of cash flow. On the side, it conitnuesto focus on the core business and plans to launch the Ant Mine Machine S17 soon. What’s Left of Bitmain; Jihan Wu to a New Company called Matrix Recently, Odaily received a picture of Bitmain’s end of year annual meeting. Under the bright lights, Micree Zhan looks like he is tearing and Jihan Wu is comforting him. Jihan’s Twitter has been active until now, but he seems to have disappeared since December 18 last year. Only on February 18th, a tweet was introduced to introduce the BM1397 chip. On the 26th of February, Lu Yuan saw Micree Zhan appear at the Beijing International Airport and flew from Beijing to Shenzhen. Bitmain is slowly divesting itself. It’s cutting out the BCH team, cutting the mining farms, divesting its non-core AI businesses, and even the two founders are moving farther away. On December 28 last year, Odaily reported that Jihan and Micree Zhan will be retired as CEOs of Bitmain. The successor is an individual with the surname Wang. Later, it was revealed that the person surnamed Wang was Wang Haichao, former product director of Bitmain. Zhao Yiming said that at present, Jihan and Micree are not responsible for any specific things at Bitmain and only exist as shareholders. “Micree and Jihan both understand that the double CEO titles are not good for Bitmain, so they let go.” Zhao Yiming said. “Joint CEOs are very prone to problems. In the history of joint CEOs, the results haven’t been good.” Litecoin Pool CEO Jiang Zhuoer said to Odaily. On March 1st, according to Quan Tian Hou Technology report, Jihan may become responsible for a company named Matrix soon, with the former senior investment director of Bitmain, Ge Yueyu, being the current CEO. Matrix is a new company established around February this year. From a legal standpoint, it has nothing to do with Jihan and Bitmain, and has obtained a sizeable investment. Many of Matrix’s employees were previously responsible for the BCH business at Bitmain. It is worth noting that Ge Yueyu, who is only 27 years old, was also the co-founder and executive director of Bitmain. In its 2013 annual report when the company was founded, there were five main shareholders, of which Micree Zhan held 59.2%, and the second largest shareholder was Ge Yueyu, holding 28%. In November 2018, a change occurred in the company, and four directors, including Ge Yueyu, withdrew, leaving only Micree Zhan and Wu Jihan. Although many people from Matrix come from Bitmain BCH team, the main business seems to be focused on blockchain instead of BCH. Zhao Yiming revealed that Jihan had been laid off before the preparation of the new company. But the layoff progress was not smooth. “There were many people who were dissatisfied with the last layoffs, around BCH 40 employees, many choose not to go back [to the new company].” In less than a month, Bitmain ‘s IPO application in Hong Kong will usher in a deadline, and we look to see what the company will disclose with the public.

Bitmain’s Efforts to Generate Cash Flow

The State of The Market — February 19, 2019 : $3,982.89 (+4.15%) : $148.40 (+2.92%) : $0.337637 (+7.14%) BTC ETH XRP The market continued to make large gains yesterday, and Bitcoin is currently testing its resistance at $4,000. Similarly, Ethereum is testing its resistance at $150. Bitcoin would remain above $4,000 if it manages to push past $4,200 this week, and even test its next resistance at $4,800. The total market cap added $7 Billion in the last 24 hours and more than $15 Billion since Sunday. All of the top 25 cryptocurrencies are flashing green right now, with some even making double-digit gains. In other news, . According to Bitmain the BM1397 chip “achieves new feats in performance, chip area and energy efficiency [and] it requires lower power and can offer an energy consumption to computing ratio as low as 30J/TH”. Bitmain says this represents a 28.6 percent improvement when compared with the previous 7nm BM1391 chip. The mining giant also announced that it will reveal two new Antminer models called the S17 and T17 and both will utilize the new BM1397 chip. Also, . Schnorr could improve Bitcoin’s scalability and privacy and the technology has excited many developers for a long time. This is the first time the code has been made available for testing and many Bitcoin developers think it could be a positive upgrade for the Bitcoin network. Schnorr signatures could also facilitate the anonymization of lightning transactions and developers are already brainstorming other technologies that could be built on top of it. Bitmain revealed a new 7nm ASIC chip designed for mining cryptocurrencies that use the SHA256 algorithm for Proof of Work (PoW) Blockstream added a new technology called “MuSig” to its test cryptographic library and the release allows developers to experiment with the Schnorr signature and also search for bugs The revelation came as the company updated its financial results to the Hong Kong Stock Exchange as it reviews Bitmain’s application for an IPO. The figures provided in the update are the first precise figures that show how much the bear market has affected the once-dominant company, leading to a reversal of fortune that resulted in layoffs and company restructuring. ( ) 1) Bitmain, the cryptocurrency mining hardware manufacturer that dominated the space for years, recently revealed that it lost about $500 million in the third quarter of 2018 amid an overall bearish market for cryptocurrencies. Read More The event will see the launch of various decentralized applications (dApps), decentralized exchanges (DEXs), crypto wallets, stablecoins, blockchain explorers and more. IOST is the number 4 playable platform after Ethereum, EOS, and Tron. CEO Jimmy Zhong will be in attendance and supporters are encouraged to tune in via Twitter. ( ) 2) The IOST mainnet launch is scheduled to take place in 7 days and the event will live stream from 8 pm Pacific Standard Time on Monday, February 25 / 12 noon Singapore Time (Tuesday, February 26). Read More According to the new laws, starting an exchange in the country would come with huge upfront costs and regulations. Both traders and exchanges were not happy with this rule, and the trading has shifted to the peer-to-peer Bitcoin exchange, LocalBitcoins. Traders exchanged over 10.3 billion rupiah ($730,000) last week, up by 300% on a week-on-week basis. It is also much higher than the previous high of 4.5 billion rupiah ($319,000). Bitcoin (BTC) is priced at $3,747.67, gaining 2.81% in the last 24 hours. ( ) 3) After a controversial crypto law was enacted in Indonesia last week, there was a huge surge on Localbitcoins. Read More Subscribe to the Berminal Brief Newsletter Download Berminal App for Free The Berminal Website Berminal Official Telegram Berminal Twitter

Bitmain Reports $500 Million Loss, And IOST To Live Stream Main Net Launch On February 25

The State of The Market — January 29, 2019 : $3,438.11 (-0.66%) : $0.291144 (-0.06%) : $105.76 (+0.70%) BTC XRP ETH The crypto market continued to fall down yesterday, with Bitcoin testing its support at $3,400. While Bitcoin defended the price point, it was not a strong rebound. The market could test the support multiple times this week. If Bitcoin successfully manages to hold on to it, it could result in a significant rebound propelling Bitcoin’s price above $4,000. Meanwhile, most cryptocurrencies have changed by less than 1% in the last 24 hours, and not all of them are following Bitcoin. In other news, . Analysts believe the move highlights weakness in the wider cryptocurrency market as sharp downturns typically lead stablecoins like USDT to rally. Also, according to a recently issued press release. Nvidia expects weaker sales from its gaming and data center platforms and Q4 revenue was revised to $2.20 billion from a previous estimate of $2.70 billion. The crypto-bull run of 2017 drove an incessant demand for Nvidia’s graphics processing units (GPUs) but as mining profitability and cryptocurrency prices decreased throughout 2018, customers became disinterested in crypto-mining and GPU prices did not drop low enough for new consumers to purchase more affordable cards from Nvidia. Tether (USDT) has eclipsed EOS market capitalization to take over the #4 spot on CoinMarketCap Nvidia, a Taiwan-based computer hardware producer, has revised its Q4 2019 revenue estimates While there was a list of technical issues that angered some users, the sale was viewed as a success. The sale began at 3:00 UTC and purchasers had the option of paying in Tron’s TRX or with Binance’s native exchange token, BNB. At the time or sale, BTT was priced at $0.00012. The minimum BTT purchase was 100,000 BTT ($12). Tron CEO Justin Sun tweeted that BTT’s 23.76 billion token cap for the BNB session was met in 13 minutes and 25 seconds, and the TRX session was completed in 14 minutes and 41 seconds. Data from Binance shows there was 622 participants in the TRX session and 340 participants in the BNB session. Binance CEO Changpeng Zhao said that the sessions would have ended in just seconds if there were no technical issues and he described the demand as being “astronomical”. ( ) 1) On Monday a public sale of 59.8 billion ($7.2 million) BitTorrent Tokens (BTT) sold out in minutes through Binance’s Launchpad. Read More An Italian Bankruptcy Court has now declared that the hack was the fault of its owner Francesco Firano (also known as “The Bomber”). The court has ruled that Firano must return as much as possible to his customers. Firano’s assets worth $1 Million and millions of dollars worth cryptocurrencies was seized. Also, the court has appointed several trustees to assist distribution of assets back to victims. Bitgrail victims declared it was a huge victory for the crypto industry. ( ) 2) Nearly one year ago, cryptocurrency exchange Bitgrail claimed to have lost 14 Million NANO (worth approx. $170 million at the time) to a hack. Read More Charlie Lee, who is the creator of Litecoin, wants to add Confidential Transactions to Litecoin on an opt-in basis and he is targeting 2019 to do so. Lee pointed to the controversial fungibility feature, which reflects the identical nature of tokens, as “the only property of sound money that is missing from Bitcoin and Litecoin.” He says with the scalability issue in the rear-view mirror, fungibility and privacy are the “next battleground.” Lee went on to announce that he is “now focused on making Litecoin more fungible by adding Confidential Transactions.” While Lee does not expect Bitcoin to go down a similar path, at least not yet, the stars have aligned for Litecoin. ( ) 3) Litecoin might be considered the silver to Bitcoin’s gold, but it’s transforming to more closely resemble Monero. Read More Subscribe to the Berminal Brief Newsletter Download Berminal App for Free The Berminal Website Berminal Official Telegram Berminal Twitter

BitTorrent Token Sale Sells Out In Minutes And Bitgrail Victims Win Case Against Founder

The State of The Market — December 31, 2018 : $3,796.93 (-1.88%) : $0.358231 (-2.56%) : $137.11 (-1.14%) BTC XRP ETH The market is somewhat stable, losing only $2.2 Billion in the last 24 hours. Bitcoin is hanging on to its support at $3,800, while Ethereum is below $140 after testing its resistance at $150. Binance Coin (BNB) is the only coin in green today among the top 25 cryptocurrencies. In other news, asking for help with his legal battle. Ver has been one of the most active supporters of Ross, calling for his release on multiple occasions since he was first arrested. Ross Ulbricht, founder of the dark web marketplace known as Silk Road, recently sent a handwritten letter to crypto proponent Roger Ver Most companies reward responsible hackers for reporting vulnerabilities to them so that they can fix it before they are exploited. Block.One, the company behind EOS has paid out $534,500, or 60% of the bounties this year. Cryptocurrency exchange Coinbase is the second largest spender for awarding $290,381, and Tron came in at third for paying $76,200. While the average prize on HackerOne for bounties is $900, the blockchain industries averaged at $1,490. ( ) 1) According to a report from TheNextWeb, white hack hackers earned $878,000 from crypto companies through bounty programs in 2018. Read More One insider close to Bitmain stated, “This matter has not been settled yet, and it is currently in a transitional period.” Bitmain has yet to confirm or deny the reports and has replied to all requests by saying, “Thank you for your attention but we have no comment at this time, please refer to the prospectus.” ( ) 2) Jihan Wu and Micree Zhan, the CEOs of the cryptocurrency mining company Bitmain, may be stepping down from their positions amidst the shakeup and restructuring of Bitmain. Read More It now has a market cap of $147 Million and is available in multiple popular exchanges. However, according to some traders, redeeming the PAX token for fiat Dollars is not an easy task. They’ve sent a series of questions for traders looking to redeem their tokens. They asked a trader to verify their wallet, and explain the transactions on their wallet. To another trader, they asked the location of their employer, their title, and their annual salary. Traders are not happy with Paxos’ hostility, and it has been a nightmare for some. ( ) 3) Paxos Standard Token (PAX) is a popular ERC20 stablecoin on Ethereum blockchain that is pegged to the US dollar. Read More Subscribe to the Berminal Brief Newsletter Download Berminal App for Free The Berminal Website Berminal Official Telegram Berminal Twitter

Crypto Firms Made Large Payouts To Bounty Hunters In 2018, And Bitmain CEOs May Step Down

Gor Gevorkyan v. Bitmain, Inc., Bitmain Technologies, Ltd. And DOES 1 to 10 A lawsuit was filed in the Northern District of California against Bitmain on 11/19/2018. See https://www.scribd.com/document/393971649/Bitmain-Class-Action In a brief summary, the Plaintiff alleged that Bitmain marketed and sold ASIC miners that were preconfigured to use the customers’ electricity to generate crypto for Bitmain’s own benefit. The Plaintiff bought his ASIC in January 2018, it was hard to configure, and it came pre-configured to operate in full power mode, at which time it mined for the benefit of Bitmain, using the Plaintiff’s electricity. The complaint alleges there are over 100 Class members and the amount in controversy exceeds $5 Million. Plaintiff’s is that Bitmain used unfair competition, which was unlawful, fraudulent, deceptive, untrue or misleading advertising and offends public policy, is immoral, unethical, oppressive, and unscrupulous, as the gravity of the conduct outweighs any of the alleged benefits. Plaintiff demands the Court to issue an order requiring Bitmain to stop their unfair competition, pay restitution of all expenses incurred as a result of Bitmains unfair and deceptive practices; pay interest at the highest rate allowable by law and pay the Plaintiff’s attorney’s fees. first count The is for unjust enrichment, stating that Bitmain received a benefit at the expense of the Plaintiff, including electricity costs. Plaintiff seeks the Court to require Bitmain to disgorge all monies, profits and gains that it obtained at the expense of the Plaintiff. second count The is for conversion, stating Bitmain converted the use of Plaintiff’s and Class members’ ASIC devices and requests disgorgement. third count I would have liked the lawsuit to include more information explaining how much the Plaintiff’s power bill was, and how much bitcoin he mined that got swept into Bitmain’s wallet, and perhaps a showing of that transaction on a block explorer. From my understanding (which is pretty limited), miners from all manufacturers, not just bitmain, come with factory settings and begin mining as soon as they are powered on. As soon as someone gets a miner, they should update the factory settings to their own customizable settings. I suspect Bitmain’s response will accuse the Plaintiff(s) of negligence for failing to configure their machines in a timely fashion. Plaintiff(s) will likely argue that Bitmain should be clearly disclosed to all purchasers that prior to configuration, mining will be done to Bitmain’s account. When I searched Bitmain’s website, I found nothing that would alert someone that the miner would be mining for Bitmain until configured, although there are extensive instructions on configuration. There were no Terms of Use or Terms of Service on the website. There was a short disclaimer that didn’t mean much to me, it simply says, Disclaimer You are not allowed to access (or attempt to access) this service by any means other than through the means we provide or have indicated to be used, and you specifically agree not to access (or attempt to access) this service via any illegal or unlawful means or use this service to support any illegal or unlawful activities or purpose. By entering this website and signing up for this service, you acknowledge and agree that you are a person to whom this service may be lawfully provided in accordance with the laws of jurisdiction in which you are located. https://service.bitmain.com/policies/disclaimer. See The support page has a lot of information on it, but nothing saying the machines will mine for Bitmain until configured. . See https://service.bitmain.com/support I watched a few youtube videos about the setup procedure, and none mentioned that prior to setup, coins would be mined for the manufacturer. . See https://www.youtube.com/watch?v=sz-XZL77qqs In conclusion, I think the lawsuit has merit if it can actually prove that Bitmain was selling people miners without disclosing the miners would mine for Bitmain until configured, and that this actually happened to over 100 people and caused Bitmain to mine over $5 million worth of crypto (goodluck).

Summary of Bitmain Lawsuit

The State of The Market — November 9, 2018 : $6,393.37 (-1.15%) : $210.34 (-1.49%) : $0.5049 (+0.14%) BTC ETH XRP The overall cryptocurrency market has seen a pullback in prices following recent gains, as the total market cap has dropped more than $5 billion in the last 24-hours. The price of Bitcoin (BTC) has dropped by 1.15% and currently trades at $6,393.37 while Ethereum (ETH) has shed 1.49% and is trading at $210.34. XRP pulled back slightly, but still trades above $0.50. Currently, the total market cap is $212.9 billion. In other news, and Bitmain is rushing to deploy 90,000 S9 Antminers ahead of the Bitcoin Cash hard fork on November 15 executives from VanEck remain calm and confident about the prospects of the SEC approving a Bitcoin ETF. The decentralized exchange (DEX) allowed users to exchange Ethereum-based tokens without needing to register accounts or turn their private keys over to the exchange wallet. The SEC claims that EtherDelta illegally permitted users to trade tokens which are classified as “securities” by federal law. The SEC’s co-director of the Enforcement Division said, “EtherDelta had both the user interface and underlying functionality of an online national securities exchange.” EtherDelta’s failure to register with the SEC or qualify for an exemption meant the DEX was in breach of federal law. Coburn has agreed to pay a total of $388,000 in fines but has not admitted or denied the SEC’s findings. ( ) 1) The U.S. Securities and Exchange Commission (SEC) has filed charges against EtherDelta founder Zachary Coburn for operating an unregistered exchange. Read More Earlier this month, the exchange added BAT to its professional trading platform Coinbase Pro, and support was widely expected to follow for the mobile apps, which is what today’s announcement was about. BAT is available to traders in most jurisdictions with the exception of New York. Coinbase recently restructured its listing process to accelerate the addition of more coins. ( ) 2) Coinbase announced on Twitter that it is adding support for Basic Attention Token (BAT) to its iOS and Android mobile apps as well as Coinbase.com starting today. Read More The platform explained that each coin offered distinctly different characteristics to the overall crypto space, which is the reason for multiple stablecoins being added at the same time. There has been a flurry of stablecoins released in recent months, leading to the possibility that 2018 will be known as ‘the year of the stablecoin.’ ( ) 3) Cobinhood (COB), a cryptocurrency service platform and exchange that offers zero-fee trading, recently announced the addition of four stablecoins to its platform: the Gemini Dollar (GUSD), MakerDao (DAI), Paxos Standard Token (PAX), and TrueUSD (TUSD). Read More Subscribe to the Berminal Brief Newsletter Download Berminal App for Free The Berminal Website Berminal Official Telegram Berminal Twitter

Bitmain Plans to Benefit from the Bitcoin Cash Hard Fork and Bitcoin Drops Below $6,500

Recently it was revealed that Bitmain, who is the leading hardware development company for cryptocurrency mining operations throughout the world, is nearing the 51% hash rate mark on the Bitcoin blockchain. They account for a considerable percentage of the mining hardware sold, and their dominance is that area is getting stronger as time goes by. Last year they had about 4 billion in profit from their mining operations, and anyone in the game knows their hardware (application specific integrated circuits or ASIC) can beat out GPUs for cryptocurrency mining. Bitmain’s Antminer Z9 mini, which hashes around the equivalent of 15 1080Tis (GPU), 300 watts, and 10,000 Sol/s that likely will be able to produce even a bit more than that given their history of exceeding the proclaimed parameters for their hardware. With this equipment, Bitmain also does their own mining, which is why they are so good at what they do because necessity is the mother of invention, and their ascension to the 51% mark is making people nervous because this defeats the purpose of decentralization when any one company has a majority. This isn’t the first time that something like this has happened, but it is the first time that one centralized company has so much control and influence over something that, in theory, should be distributed out over a much broader area. Everyone likes to think Bitcoin is a much-decentralized operation, and it is if you think about in terms of who owns it. But while all of that is true one can also see that these coins aren’t really decentralized as everyone thinks, and there are intrinsic issues with coins having smaller caps in the past year that brings these half-truths to the surface. Not that Bitmain would do anything to hurt Bitcoin, but if they’re putting in the cheese it takes to gain over 50% of the Bitcoin hash rate, and to mine more coins out of the pool than anyone else possibly could. However, this development shows us that the Bitcoin Blockchain isn’t truly decentralized if this is allowed to continue, no matter how much we want it to be, and if most of the new coins coming into the Bitcoin economy are going to one pool (Bitmain), one has to ask themselves if that is bullish or bearish? If one were to go down the rabbit hole and imagine all the things that could happen as this all develops it could get scary. Having a singular majority position would certainly make it possible for Bitmain, if they wanted, to manipulate all kinds of things in favor of their own profits. One proposal put forward by Ghash, who is another mining operation that reached the 51% mark some time ago causing a huge controversy, is that miners move their resources into different pools so that no one can have a singular majority in any one pool. This was a great idea, but there are differences between Ghash and Bitmain that will probably stand in the way. Ghash was not a mining corporation dedicated to the production of mining hardware and using it for their own operations keeping the best equipment for themselves until they decide to let others take advantage of it, probably because they have even more advanced equipment running. Ghash was a collection of small miners that bonded together and formed a union. When there ended up being too many miners who had joined, causing it to hit the 51% mark, Ghash asked some of them to vacate the pool and they did. So that makes it a different situation for Bitmain as they have their own miners and their own pools. Another unlikely solution to this problem would be to change the Bitcoin Proof of Work algorithm, which is unlikely due to security issues that could come from such a move. This just shows, as time goes on, it is becoming more difficult to know . how to make money with bitcoin So what is the solution? That is something yet to be addressed, but while this issue is troubling, it must be said once again that there is no proof that Bitmain has any bad intentions, and if their intentions are pure, there should be no need to worry. However, this goes to show a crack in the decentralization theory, and whether that makes you nervous or not is up to the person. One thing is clear, for decentralization to continue we all need to play by the unwritten set of rules that come with cryptocurrency mining. Without that, what do we really have? — Get one of our reports and find out which blockchain project is setting up for mass success by revolutionizing an old way of doing things and bringing it into the future. for details. Click here

Bitmain Now Has More Than 50% of Bitcoin Network Hash Rate — Trouble Ahead?

Thanks to those of you who have forwarded and shared Global Coin Research, we really appreciate it and we hope you like the focus topic for this week. I’ve gotten readers expressing interest on a variety of topics, and many are keen to learn more about Bitmain, as the company announced their this past week. This is my attempt to do a simple KPI analysis to measure the strength of the business and provide some valuation thoughts on the company. plan to IPO 😂_._ Note: I may be biased here, but while I was doing research on Bitmain, I realized the company is SOOO undercovered despite how large of a role it plays in the cryptocurrency world. Here is an example. When i googled “Bitmain revenue”, the first 2 articles from February this year both claimed that Bitmain is making more profit than Nvidia. Supposedly Bitmain saw “$3- $4 billion in operating profit in 2017, whereas Nvidia, founded 24 years ago, made about $3 billion during the same period.” But from the recent Bloomberg interview directly with Jihan Wu, Bitmain’s revenue was $2.5bn in 2017. One metric is operating profit, the other is revenue, that is a HUGE gap. So for now, I’m trusting the Bloomberg number, unless you hear a new number, please let me know A very quick intro on the company for those unfamiliar, Bitmain was founded by Jihan Wu and Micree Zhan in 2013 and the company is currently headquartered in Beijing. The company is the world’s dominant producer of cryptocurrency mining chips, the . Additionally, Bitmain’s AntPool and BTC.com collectives control more than of the world’s Bitcoin mining power per BTC.com. ASICs 40 percent Based on the data points I’ve collected along with some pretty conservative assumption, I’m estimating that Bitmain’s revenue per employee is ~$2mn, if not more. This is higher than that of Google and Facebook , which is around $1.8mn and $1.6mn, respectively. I previously in a past newsletter that the second largest bitcoin mining company, Canaan Creative, was also looking to IPO, and that they had an or ~USD $700k in 2017. Total 2017 revenue was Rmb $1.7bn with 243 employees. When I initially learn about these metrics, I was very impressed with the company’s sales efficiency. As a reference, the largest Chinese tech company Tencent made about ~$755k per employee based on their year- end 2017 numbers, Alibaba’s sales efficiency was even less. reported average revenue per employee of Rmb 5mn When I looked at Bitmain after the Bloomberg’s interview article came out, I almost jumped out of my chair. Bitmain’s revenue per employee is almost 3x that of Canaan’s. It’s likely to be $2mn or well over. Here’s my simple math. Quartz did a in August 2017, and mentioned then that Bitmain had about 700 employees then. Now, we make an assumption that the company goes through a really aggressive growth in headcount for the rest of 2017, a scenario in which Bitmain grows its employees from 700 people in August to 1400 people in December (I’m not even sure if it is realistically feasible to hire 700 people in 4 month, or historically any tech company have done so, but I would not be surprised if the Crypto companies have set that precedence). Bitmain’s annual revenue was $2.5bn in 2017, so simple calculation would tell you that’s equivalent to about $1.8mn per employee. This is likely a conservative number, given my aggressive headcount growth assumption, so I’m rounding that up to $2mn. So please note, this is an extraordinary sales efficiency. detailed coverage on the company Note: While I recognize looking at purely one metric is not indicative of the entire health of the business and can lead me down to many false assumptions, I do think that sales efficiency is an easy to understand KPI that speaks to the moat of the company. Given that we don’t really have much information about Bitmain until it actually files, this math allows for an simple exercise to conveniently compare companies. On the cost side, Bitmain benefits from market dominance and economies of scale. It may already be enjoying comparable margins to Canaan, if not better. For example, being the second largest miner may require Canaan to spend more money on marketing, and have less negotiation power with its suppliers. Once Canaan’s filings become available and the company goes public as early as , we will be able to get a sense of Bitmain’s margins. next month Note: In the meanwhile, if you are interested in taking an educated guess. I’d defer you to the hardware experts. Jimmy Song has attempted to calculate how profitable Bitmain is. He evaluates the margins of some of Bitmain’s major business streams. Specifically, he estimates the cost of production of the most popular and representative miner rig (S9) to be roughly $500. S9’s retail cost is ~$1200, which then implies a 60% gross margin. He also estimates the cost of mining for Bitmain to be ~$430 per BTC. Assuming a Bitcoin price of ~$7036, which was at the time when I did the analysis, 95% of gains would go directly to the bottom line. Now, it’s hard to calculate the business’s margins more precisely because we don’t know how revenue is split by business lines. Bitmain’s main business lines are 1) sales of Bitmain’s mining machines, 2) renting out its mining rigs and 3) mining bitcoins. Assuming the highest gross cost business is producing Bitmain’s mining rigs, we should then expect gross margin to be greater than 60%, assuming Jimmy’s above estimates and assumptions are correct. On the SG&A side, I would imagine that research and development would make a significant percentage of revenue. I wouldn’t be surprised if sales and marketing was 10% of revenue or less, given Bitmain’s brand has already been recognized by the market. On to valuations. Once Canaan goes public, we will be able have a benchmark for Bitmain’s valuation multiple. I’m genuinely excited to see and monitor what multiple the market would give to Canaan, because that is a good starting point to understanding how much institutional investors believe in cryptocurrency long term. This is even more true for Bitmain. Bitmain’s IPO will be at least 10x larger than Canaan’s, it will be even harder for institutional investors to ignore. Investors who otherwise wouldn’t have wanted to understand bitcoin and cryptocurrency to gauge the valuation of Bitmain. Additionally, Bitmain’s sale of its AI chips will start at end of this year, which I am very optimistic about as a new, stable revenue stream and growth driver for the company (you can read more about the AI chips in the ). will have to Quartz article Note: I’m optimistic about Bitmain’s AI chips. Some folks have initially scoffed at them and believe that Nvidia or Intel is going to eat these guys’ lunch. However, I want to stress that recent Chinese trade policies is hugely favorable for Bitmain. After the ZTE trade war feud between the US and China, the Chinese government has been increasingly pushing for China’s own developed chip s. I’m certain that Bitmain will benefit from this. So I’m overall very optimistic about Bitmain’s future. It’s IPO will likely be a successful and remarkable one. It’s growing size and relevance in the chip and hardware industry will make it impossible for some remaining skeptics to ignore Bitcoin and cryptocurrency.

Bitmain’s message to Wall Street- It’ll be too hard to ignore bitcoin

Not too long ago, Howtotoken started the (details about it ) and the core idea was simple: build a moderated list of 10,000 questions for anyone who wants to learn more about the blockchain and cryptocurrency in general, and this challenge is already running into its fourth week: 10KQA Challenge here Week 1 report Week 2 report Week 3 report One of the most interesting questions asked this week was in a discussion about Bitmain starting to sell its , and how this will affect the profits when mining Ethereum. Thanks to the experts, we have received an interesting answer that we will now share with the community in this weekly report. But before we dive into that, let’s go over some of the other interesting questions and answers that were talked about this week. Antminer E3 Why are cryptocurrencies acceptable under Sharia Law? As we all know, last week Islamic countries were allowed to use crypto by Muhammad Abu Bakar, but the most interesting question here is why cryptocurrency could be considered Halal and here are some of the reasons: Cryptocurrencies are not controlled by a centralized system, which is what makes them more secure than other current financial systems out there. Cryptocurrencies are widely accepted; hence, it is money. However, Abu Bakar notes that while cryptocurrencies are halal in most cases, they are not halal in all. For instance, they are not halal in jurisdictions were they are banned. He also stated that it is not advisable to use cryptocurrencies for investment purposes. Regarding the current situation with the high volatility of Bitcoin and other cryptocurrencies, there was an interesting question asked about stable coins. Which USD-backed stable coin is the most reliable and why? , suggests considering if you need a replicative asset for dollars in the world of crypto. Jonathan Ponciano TrueUSD The main reason for it is the legal framework developed by the issuer to protect token holders. It does this by creating a strong link between tokens and underlying dollars. The product is being developed in partnership with banks, two Washington D.C. law firms, a crypto hedge fund, and a New York investment firm. This platform is called TrustToken, where all operations with this token are stored. The next questions are in regards to mining, as more and more news about this field is currently the hot-topic of conversation. Security and hidden miners still plague users, but there are some basic recommendations that you can follow to avoid that. How do I prevent hidden mining on my computer? , a co-founder and an active entrepreneur, describes six ways to guarantee that no one will mine from your computer in an article for his website. Adash Verma Fossbytes He says that most websites are using Coin Hive for mining. Here are the instruments to block it: 1. Use the No Coin Chrome extension “As soon as you visit a website, No Coin will detect and show you if any such activity is going on. You’ll see a red symbol as shown in the screenshot below. While this extension blocks any such activity, it also allows you to whitelist a website for a period of time.” 2. Use the minerBlock Chrome extension The principle of this extension is the same. However, currently this service has less miner domains on their list. 3. Block coin mining domains in hosts file “This is the manual way of blocking particular domains that you find harmful or irritating. Due to this method of blocking, your browser won’t be able to connect to these domains. We can edit the hosts file and redirect it to 0.0.0.0. For Windows, navigate to C:\Windows\System32\drivers\etc and edit the hosts document to add 0.0.0.0 coin-hive.com at the end. Please note that this change blocks the mining scripts which are hosted by coin-hive.com. In case you come across other mining script domains, you can add them further down the line.” 4. Block domains in AdBlocker Go to the “Customize” section, then direct yourself to “Block an Ad by its URL” and insert the following link: https://coin-hive.com/lib/coinhive.min.js 5. Use NoScripts in Firefox NoScripts might be an option if you use Firefox. However, it is pretty aggressive and usually blocks too many websites. 6. The Opera browser “With the release of the Opera 50 web browser, the company brought in-built functionality to block CoinHive scripts and cryptocurrency mining techniques. This will allow users to make sure that their computers doesn’t go crazy whenever any website that is using the digital coin mining technique is encountered. The users can find this option in Settings (Preferences on macOS) > Basic > Block ads, and under the Recommended lists of ad filters click NoCoin.” How do you spot a website that is mining using your computer? , an author of , has the solution for you. Eric Limer popularmechanics.com One of the most prominent symptoms of “cryptojacking” is an immediate and abrupt change in the overall performance of your computer. It will usually slow down your machine significantly. “If you notice either of these conditions and get suspicious, just pull up your Task Manager on Windows (Ctrl+Alt+Delete) or Activity Monitor on a Mac (Command + Space and search for “Activity Monitor”). If your web browser is pulling a particularly high percentage of CPU power (close to all of it), there might be a cryptojacker at play. If you suspect a certain website is to blame, you can test your theory by closing the tab and monitoring the results or, in Google Chrome, go to the Menu, then More Tools, then Task Manager to check CPU usage by tab.” What is the effect of Bitmain’s ASIC-miner E3 on mining process of ETH? The first bulk of miners are already sold out and will be delivered to its users in the second half of July 2018, but now we should take the time to calculate and analyze the characteristics and risks that need to be taken into consideration. The Antminer E3 is the first Ethereum-based ASIC miner. Prior to this, GPUs like the RX570 were the most cost-effective method to mining Ethereum, offering 1MH/s at a . The E3 in comparison offers 1MH/s at $4.40, so it’s around 2.27x more cost effective. Interestingly enough, it isn’t more efficient in power usage; the RX570 and GPUs are more efficient in that regard. cost of around $12 1080 Ti It’s great to see what the ROI is for this miner: Full-size table here: https://www.anythingcrypto.com/bitcoin-mining-calculators The main risks for miners is that the plan for changing to the hybrid proof-of-work/proof-of-stake algorithm called Casper (which could potentially lead to Ethereum becoming fully proof-of-stake based) could make it so that you are no longer able to mine it. The real question that needs to be asked is when this will be implemented, as ASICs are going to become a problem in several months. However, Casper may not be implemented until months or even years after that — so a short-term solution may be needed (although, because the E3 isn’t drastically more efficient than existing GPUs, this may not even be necessary). To join our challenge and get new updates, follow us on: Telegram: TENKQA Twitter: @howtotoken I will be appreciative of all participants, ideas, and discussions. It is my hope that we will all be able to get something positive from the process and that unforgettable feeling of having a flow. We are also looking for moderators to join our challenge who will learn with us and search for new questions and answers regarding the blockchain and cryptocurrency in these categories: Core Blockchain Development Profits (trading, ICO, mining) Real Disruptive Models Laws and Regulations ** **👏 We need your claps to reach more people since this is a new publication. Please spread this story with a tweet, Facebook share, etc. About the author: — Founder of Geekforge.io and Howtotoken.com. Interviewing the top 10,000 worldwide experts who reveal the biggest issues on the way to technological singularity. Join my . Kirill Shilov #10kqachallenge: GeekForge Formula

Will the new Bitmain Antminer E3 make you hit the jackpot on ethereum mining?

Hateful Meme Detection: Leveraging PVLMs for Zero-shot VQA Probing

I'm speaking with LAN, the Co-founder and Chief Operating Officer of BIT Exchange. Today, we delve into their personal blockchain journey and explore the strategic decisions behind introducing new trading markets and innovating and adapting to stay ahead in the rapidly changing crypto space. Please tell us about yourself and what you do at BIT Exchange I’m the Co-founder & Chief Operating Officer at BIT and have previously worked at Bitmain and Matrixport. I joined Bitmain in 2018. When Bitmain launched Matrixport in 2019, I joined Matrixport as part of the founding team. I served as the product leader of the trading department, where I helped design the first structured digital currency product for dual-currency wealth management. Matrixport initiated BIT in November 2019 and launched it in August 2020. As a co-founder of BIT, I now lead its strategic direction, encompassing business growth, product development, and operations. Can you explain the decision-making process that led BIT Exchange to introduce new trading markets? BIT Exchange is constantly exploring opportunities to expand our offerings and provide diverse investment options for our users. Our decision to introduce new trading markets, such as the one for EigenLayer Points (ELP), comes from our commitment to pioneering innovation in the crypto space and ensuring broader access to the growing crypto economy for both retail and institutional investors. The crypto market evolves fast, from ICO to IEO, to IDO. People fight for whitelists, staking opportunities, and early minting opportunities in inscription space. As a centralized exchange, we need to start building infrastructure for the next asset issuance trend. Just like how exchanges built launchpads in 2020, we need to build the infrastructure for Pre-market listing now, which we believe will see increased demand. How do you assess the interest from both retail and institutional investors? Interest from Retail and Institutional often goes hand in hand. Retail looks at institutional portfolios, and institutional looks at on-chain wallet numbers as a benchmark for retail popularity. We've observed significant interest from both retail and institutional investors in emerging protocols like EigenLayer. Retail investors are drawn to the potential for earning rewards by participating in new projects early on, while institutional players are increasingly recognizing the value of diversifying their portfolios with exposure to new and cutting-edge DeFi applications. Can you describe BIT Exchange's approach to identifying and launching new trading markets? What criteria do you use to determine which markets to enter? BIT Exchange adopts a proactive approach to identifying and launching new trading markets. We closely monitor market trends, engage with our user community to understand their preferences, and collaborate with leading projects to bring exciting opportunities to our platform. Our criteria for entering new markets are multifaceted, focusing on factors such as project innovation, market demand, user engagement, and regulatory compliance. We prioritize projects with strong fundamentals and the potential to drive meaningful value for our users. Are you bullish on EigenLayer? If so, why? We are indeed bullish on EigenLayer due to its groundbreaking approach to re-staking and enhancing network security within the Ethereum ecosystem. EigenLayer's ability to attract over $12 billion in total value locked demonstrates its traction and future potential for reshaping the DeFi landscape. Can you describe the decisions that led BIT to launch the EigenLayer Points (ELP) market? The decision to launch the EigenLayer Points (ELP) market aligns with our mission to provide early access to promising projects for our user base. By offering trading for ELP ahead of the token generation event, we enable our users to participate in the EigenLayer ecosystem early on. There are many pre-listing opportunities however we also need to identify trusted partners who are selling these points. It is a long due diligence process to investigate which are the popular points that are reliable and who would like to sell in the pre-market. Could you explain the significance of launching the EigenLayer Points market on BIT Exchange? What opportunities does this provide for early adopters? Opening the EigenLayer Points market on BIT Exchange is a big step forward. We're the first exchange to do it, showing we're leading the pack in making new crypto opportunities available to more people. This provides them with a head start in engaging with a promising protocol and potentially benefiting from its growth. What are some operational challenges involved in being the first centralized exchange to offer a new product like EigenLayer Points? Being the first centralized exchange to offer a product like EigenLayer Points comes with operational challenges such as ensuring reliable security measures and sufficient liquidity, keeping trading fees at competitive levels, and educating users about the new market. However, we are committed to overcoming these challenges to provide a seamless trading experience for our users. With the upcoming EigenLayer airdrop being highly anticipated, how is BIT preparing to support its users through this event? As the EigenLayer airdrop approaches, BIT Exchange is actively preparing to support our users through this event by providing relevant information, facilitating trading, and ensuring the smooth distribution of airdropped tokens to eligible holders. It is mostly bookkeeping work, when the token is airdropped, we need to understand the airdrop rules, and conversion rate. The token would be in the Exchange wallet and then distributed to users’ accounts according to their points portfolio. Can you discuss any recent upgrades or innovations in BIT’s trading platform that have been particularly impactful? Recently, BIT Exchange has made significant upgrades to our trading platform, particularly in the BRC-20 sector. We've empowered our users with the ability to drive new BRC-20 listings through organic community in-app votes, building a more inclusive and community-driven environment. Are there any industry trends or technologies that BIT is particularly focused on to stay ahead of the competition? We're also focused on staying ahead of the competition by embracing more crypto-native features such as staking. Back in Feb 2024, we began offering staking services for projects like Merlin Chain, for example, enabling our users to participate in that particular airdrop while earning rewards and contributing to the growth of the Merlin ecosystem. Looking ahead, what new types of tokens is BIT Exchange considering? Looking ahead, BIT Exchange is considering listing new types of tokens with a strong focus on our community-led approach. We listen to our users and give them a say in what gets listed on our platform. This way, we ensure that we're offering assets that truly resonate with our community's interests. I'm speaking with LAN, the Co-founder and Chief Operating Officer of BIT Exchange. Today, we delve into their personal blockchain journey and explore the strategic decisions behind introducing new trading markets and innovating and adapting to stay ahead in the rapidly changing crypto space. Please tell us about yourself and what you do at BIT Exchange Please tell us about yourself and what you do at BIT Exchange I’m the Co-founder & Chief Operating Officer at BIT and have previously worked at Bitmain and Matrixport. I joined Bitmain in 2018. When Bitmain launched Matrixport in 2019, I joined Matrixport as part of the founding team. I served as the product leader of the trading department, where I helped design the first structured digital currency product for dual-currency wealth management. Matrixport initiated BIT in November 2019 and launched it in August 2020. As a co-founder of BIT, I now lead its strategic direction, encompassing business growth, product development, and operations. Can you explain the decision-making process that led BIT Exchange to introduce new trading markets? Can you explain the decision-making process that led BIT Exchange to introduce new trading markets? BIT Exchange is constantly exploring opportunities to expand our offerings and provide diverse investment options for our users. Our decision to introduce new trading markets, such as the one for EigenLayer Points (ELP), comes from our commitment to pioneering innovation in the crypto space and ensuring broader access to the growing crypto economy for both retail and institutional investors. The crypto market evolves fast, from ICO to IEO, to IDO. People fight for whitelists, staking opportunities, and early minting opportunities in inscription space. As a centralized exchange, we need to start building infrastructure for the next asset issuance trend. Just like how exchanges built launchpads in 2020, we need to build the infrastructure for Pre-market listing now, which we believe will see increased demand. How do you assess the interest from both retail and institutional investors? How do you assess the interest from both retail and institutional investors? Interest from Retail and Institutional often goes hand in hand. Retail looks at institutional portfolios, and institutional looks at on-chain wallet numbers as a benchmark for retail popularity. We've observed significant interest from both retail and institutional investors in emerging protocols like EigenLayer. Retail investors are drawn to the potential for earning rewards by participating in new projects early on, while institutional players are increasingly recognizing the value of diversifying their portfolios with exposure to new and cutting-edge DeFi applications. Can you describe BIT Exchange's approach to identifying and launching new trading markets? What criteria do you use to determine which markets to enter? Can you describe BIT Exchange's approach to identifying and launching new trading markets? What criteria do you use to determine which markets to enter? BIT Exchange adopts a proactive approach to identifying and launching new trading markets. We closely monitor market trends, engage with our user community to understand their preferences, and collaborate with leading projects to bring exciting opportunities to our platform. Our criteria for entering new markets are multifaceted, focusing on factors such as project innovation, market demand, user engagement, and regulatory compliance. We prioritize projects with strong fundamentals and the potential to drive meaningful value for our users. Are you bullish on EigenLayer? If so, why? Are you bullish on EigenLayer? If so, why? We are indeed bullish on EigenLayer due to its groundbreaking approach to re-staking and enhancing network security within the Ethereum ecosystem. EigenLayer's ability to attract over $12 billion in total value locked demonstrates its traction and future potential for reshaping the DeFi landscape. Can you describe the decisions that led BIT to launch the EigenLayer Points (ELP) market? Can you describe the decisions that led BIT to launch the EigenLayer Points (ELP) market? The decision to launch the EigenLayer Points (ELP) market aligns with our mission to provide early access to promising projects for our user base. By offering trading for ELP ahead of the token generation event, we enable our users to participate in the EigenLayer ecosystem early on. There are many pre-listing opportunities however we also need to identify trusted partners who are selling these points. It is a long due diligence process to investigate which are the popular points that are reliable and who would like to sell in the pre-market. Could you explain the significance of launching the EigenLayer Points market on BIT Exchange? What opportunities does this provide for early adopters? Could you explain the significance of launching the EigenLayer Points market on BIT Exchange? What opportunities does this provide for early adopters? Opening the EigenLayer Points market on BIT Exchange is a big step forward. We're the first exchange to do it, showing we're leading the pack in making new crypto opportunities available to more people. This provides them with a head start in engaging with a promising protocol and potentially benefiting from its growth. What are some operational challenges involved in being the first centralized exchange to offer a new product like EigenLayer Points? What are some operational challenges involved in being the first centralized exchange to offer a new product like EigenLayer Points? Being the first centralized exchange to offer a product like EigenLayer Points comes with operational challenges such as ensuring reliable security measures and sufficient liquidity, keeping trading fees at competitive levels, and educating users about the new market. However, we are committed to overcoming these challenges to provide a seamless trading experience for our users. With the upcoming EigenLayer airdrop being highly anticipated, how is BIT preparing to support its users through this event? With the upcoming EigenLayer airdrop being highly anticipated, how is BIT preparing to support its users through this event? As the EigenLayer airdrop approaches, BIT Exchange is actively preparing to support our users through this event by providing relevant information, facilitating trading, and ensuring the smooth distribution of airdropped tokens to eligible holders. It is mostly bookkeeping work, when the token is airdropped, we need to understand the airdrop rules, and conversion rate. The token would be in the Exchange wallet and then distributed to users’ accounts according to their points portfolio. Can you discuss any recent upgrades or innovations in BIT’s trading platform that have been particularly impactful? Can you discuss any recent upgrades or innovations in BIT’s trading platform that have been particularly impactful? Recently, BIT Exchange has made significant upgrades to our trading platform, particularly in the BRC-20 sector. We've empowered our users with the ability to drive new BRC-20 listings through organic community in-app votes, building a more inclusive and community-driven environment. Are there any industry trends or technologies that BIT is particularly focused on to stay ahead of the competition? Are there any industry trends or technologies that BIT is particularly focused on to stay ahead of the competition? We're also focused on staying ahead of the competition by embracing more crypto-native features such as staking. Back in Feb 2024, we began offering staking services for projects like Merlin Chain, for example, enabling our users to participate in that particular airdrop while earning rewards and contributing to the growth of the Merlin ecosystem. Looking ahead, what new types of tokens is BIT Exchange considering? Looking ahead, what new types of tokens is BIT Exchange considering? Looking ahead, BIT Exchange is considering listing new types of tokens with a strong focus on our community-led approach. We listen to our users and give them a say in what gets listed on our platform. This way, we ensure that we're offering assets that truly resonate with our community's interests.

Innovation and Accessibility to New Trading Markets

Last weekend, the whole world was focused on the escalation in the Middle East. Iran carried out its long-promised attack on Israel. This event was special due to the following factors: — Everyone knew that this attack would happen as it was widely announced in the press. — Most markets are closed on weekends. Crypto markets are the only global markets that trade 24/7. Thus, it is possible to monitor investor reaction and evaluate whether Bitcoin served as a safe-haven asset in this situation. The result was quite predictable. With just one available market, traders rushed to sell crypto to raise cash, which led to a short-term drop in the price of Bitcoin. More speculative coins suffered stronger sell-offs. This is not surprising as such coins have a larger percentage of short-term holders, who are extremely sensitive to the news agenda. Investors quickly found out that Iran’s attack was limited (compared to market horror stories that preceded the attack), so crypto prices started to recover on Sunday. Nevertheless, the initial reaction was a sell-off. So, has Bitcoin failed the “safe-haven asset test”? The answer is no. Let’s look at the classic safe-haven asset, gold, during a major risk event – the beginning of the coronavirus pandemic. Back in March 2020, when markets realized that humanity faced a global pandemic, gold prices fell for half a month and then started to rebound. No matter how safe the asset is, it may face a wave of sales in the first days of panic, as investors sell everything to raise cash. It should be noted that price action in the first days of turbulence has no impact on the longer-term trends of the asset. Those who are worried about short-term fluctuations of Bitcoin may use Bitbanker’s capital protection product for investments in BTC. Last weekend, the whole world was focused on the escalation in the Middle East. Iran carried out its long-promised attack on Israel. This event was special due to the following factors: — Everyone knew that this attack would happen as it was widely announced in the press. — Most markets are closed on weekends. Crypto markets are the only global markets that trade 24/7. Thus, it is possible to monitor investor reaction and evaluate whether Bitcoin served as a safe-haven asset in this situation. The result was quite predictable. With just one available market, traders rushed to sell crypto to raise cash, which led to a short-term drop in the price of Bitcoin. More speculative coins suffered stronger sell-offs. This is not surprising as such coins have a larger percentage of short-term holders, who are extremely sensitive to the news agenda. Investors quickly found out that Iran’s attack was limited (compared to market horror stories that preceded the attack), so crypto prices started to recover on Sunday. Nevertheless, the initial reaction was a sell-off. So, has Bitcoin failed the “safe-haven asset test”? The answer is no. Let’s look at the classic safe-haven asset, gold, during a major risk event – the beginning of the coronavirus pandemic. Back in March 2020, when markets realized that humanity faced a global pandemic, gold prices fell for half a month and then started to rebound. No matter how safe the asset is, it may face a wave of sales in the first days of panic, as investors sell everything to raise cash. It should be noted that price action in the first days of turbulence has no impact on the longer-term trends of the asset. Those who are worried about short-term fluctuations of Bitcoin may use Bitbanker’s capital protection product for investments in BTC.

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