Bitcoin price not influenced by Mt. Gox for the first time

The once insolvent crypto exchange Mt. Gox can now be put back into operation after a Japanese court has ordered civil rehabilitation and thus ended the bankruptcy proceedings.

Mt. Gox insolvency proceedings suspended due to Bitcoin revolution

According to the Bitcoin revolution accounts, the sale of Bitcoin revolution and Bitcoin Cash, worth half a billion dollars, by the MT Gox receiver, significantly affected the price between December and March.

“On 22 June 2018 at 17:00 the Tokyo District Court issued a decision to initiate civil reorganisation proceedings for MTGOX. This suspended the current insolvency proceedings.”

This paves the way for what was once the largest crypto exchange to reinstate at least the remaining 165,000 Bitcoin and Bitcoin Cash in its repertoire. But the creditors and debtors themselves will determine how exactly the scenario will continue.

“In the civil restructuring procedure, the debtor in principle retains the authority to manage and sell the assets.

A creditors’ meeting will be held on 26 September 2018 to decide on the redistribution of the funds. In the civil restructuring proceedings, the claims for reimbursement of Bitcoins (“Bitcoin Claims”) will not be “converted” into monetary claims, so that it can be assumed that the sell-off of Mt Gox Coins will finally come to an end.

Creditors could expect deposits in Bitcoin profit

The strong downward pressure between December and March was influenced by a volume of 35,000 Bitcoin profit sold on the market by the insolvency administrator of Mt Gox. If the remaining 165,000 Bitcoin profit had to be sold now, this would depress the price considerably.

Under Japanese insolvency law, creditors must be paid in fiat currencies, so the receiver had to sell BTC and BCH. It is unclear why the parties did not agree on OTC trading (over-the-counter) in order not to influence the crypto currency market too strongly.

Since the court has ordered the civil rehabilitation, the creditors can now be paid in Bitcoin, which could rule out further price pressure from the insolvency administrator of Mt Gox in the future.

Bitcoin price crashes but mining continues to rise

The price of Bitcoin and Mining have a certain correlation. It is therefore theoretically expected that a price drop will lead to a decrease in mining or hash performance – but this is not the case.

Bitcoin’s Hashrate seems to show that the mining industry is looking for a stronger position at a time when profitability is not very high due to a low Bitcoin price that has dropped below $6,000. While the Bitcoin price has been falling since early 2018, the hash rate seems to be rising steadily.

Is there any correlation between mining and Ethereum code at all?

When we look at the Ethereum code in its present form, the correlation seems somewhat confusing. The current hashrate of the Ethereum code network is 35,366,943,171 GH/s. The current hashrate of the Bitcoin network is 35,366,943,171 GH/s.

If the entire network consists of S9 miners from Bitmain, special ASIC miners designed exclusively for crypto mining, this would mean a number of 252,621,022 asics, each consuming 1.4 kilowatts or a total of 3,536,694.

The costs of mining in terms of energy consumption and the resulting environmental damage were made public to a large extent. Places such as Iceland and China have become a hub for mining. The current energy consumption is estimated at the consumption of the whole of Singapore, a country with 5.6 million inhabitants.

The average global cost of mining a Bitcoin is between $5,700 and $5,800 at an average energy price of $0.08 per kilowatt hour.

What explains the growth of the Bitcoin trader?

Most of Bitcoin trader mining power comes from China, where electricity is cheaper than average and could explain why the hash rate is increasing even as the average return approaches the cost curve. However, the Chinese government wants to take action against domestic mining and has already begun to impose harsh penalties.

Regardless of profitability and even the risks of government intervention, Bitcoin Mining is still profitable today. Mining generates an annual turnover of around 6.3 billion dollars at current market prices, but costs only around 2.3 billion dollars. This means that the Bitcoin price could theoretically be reduced by half and that profits could still be made in some zones. In addition, when mining coins, one should not forget that many speculate that the price will rise again in the long run. So if you have enough liquidity, you may well miss out on such a “crypto winter”.

Cloud Mining: Investment in the Bitcoin Mining Network

Cloud Mining is an advanced alternative in the world of Bitcoins. The principle behind it is comparatively simple and resembles a digital lease. With cloud mining, the user rents the desired computing capacity from the provider. In some cases, this can also be purchased. The advantage is that the user does not have to pay for the Bitcoin Mining hardware or energy costs. In cloud mining, the resources are provided by the respective provider. As a rule, the rental agreement also contains the agreement that the operation of the equipment is covered by the contract.

When choosing the ideal provider, care must be taken to ensure that various contracts are offered, especially when it comes to purchasing computing power. In the case of a large number of contractual agreements, a service is offered in Peta Hashes, Tera, Mega or Kilo per second. This describes how powerful the computing capacity is when calculating hashes. Consequently, the more computing power you rent or purchase, the greater the profit. However, it is also possible to generate initial payouts with lower values. With cloud mining, users share in the success on a percentage basis. The payout is either daily or weekly.

Bitcoin code Cloud Mining

When choosing a Bitcoin code cloud mining service, it is important to pay attention to the seriousness of the individual provider. In the past, black sheep have repeatedly been seen. Special caution is required when disproportionately high computing power is offered for a comparatively low fee. Providers who advertise with particularly high profits are likely to regularly present themselves as dubious in retrospect. In addition, some Bitcoin code cloud mining contracts provide for lifetime contracts. Such a contract should be carefully examined, as the demands on computing power are increasing. Additional performance may therefore have to be leased in order to benefit.

Altcoin Mining – Exploring Alternative Currencies on onlinebetrug

Since the emergence of Bitcoins, some competing systems such as Ethereum or Litecoin have also established themselves and were explained on www.onlinebetrug/en. A veritable crypto-currency market has emerged, comprising several billion euros. Because Bitcoin Mining is no longer profitable with the own computer at home, many turn to the digging of alternative currencies, because here the difficulty is much smaller and one “skims” more coins in shorter time. The hope that the exchange rate of the currency will rise later is high. Quite a few have already earned a golden nose by mining alternative currencies, says onlinebetrug.

The special feature of Altcoin Mining is to bet on the “right horse” as early as possible. Only a few alternative crypto currencies can assert themselves on the market. So it can quickly happen that you mined a currency for months and it suddenly disappears from the market, because on crypto currency exchanges there is a sales storm. Which alternative crypto currency can establish itself depends on the community that supports it. If many users mine a certain Altcoin, its chances of surviving on the market are good. You can find out which alternative currencies are interesting for prospecting in our free ebook.

Bitcoin Mining is the modern way of digging for gold, accessible to everyone. Millions of members around the world take advantage of this opportunity without any sign of backward development. On the contrary, associations are increasingly being formed to work together on dismantling. Whether in a group or via cloud mining, development always offers new opportunities to actively participate in the process. And through the competitive business, innovative ideas and innovations will continue to modernize the system in the future.

Bitcoin Mining – How the mining of Bitcoins & Co. works

Everybody is talking about the blockchain and crypto currencies, especially about the Bitcoin. But how are they created and can you create them yourself? In this article we want to explore these questions and shed light on the darkness of so-called Bitcoin Mining.

Bitcoin-Mining-What-That Is

In a way, Bitcoin Mining is the digital version of gold mining. The mining of Bitcoins, however, is not intended to allow every single miner to profit from a digital gold bar. Rather, it is a process that is necessary for transaction processing. The orientation of the crypto currencies makes it clear that they see themselves as independent currencies. Accordingly, authorities, banks or governments are not integrated in the management of money. The processing of the individual transactions, the securing of the system as well as the synchronization of the individual users takes place exclusively via the Bitcoin network.

It is therefore a decentralized system where users from all over the world can integrate themselves as Bitcoin miners. This is the main advantage for the inventors of digital currencies. After all, no single natural or legal person can exercise control over the system. For their participation in Bitcoin Mining, users receive a pro-rata remuneration. How high the corresponding share is depends largely on the Bitcoin Mining hardware provided.

Since its introduction, several million people worldwide have joined the idea, most of them using their computer’s computing power to support the network.

Bitcoin Mining – The Multiplication of Digital Money

The increase of paper money such as dollars or euros is quite simple, it is simply printed by central banks. In contrast to classic money currencies, money values in digital currencies cannot be reprinted if there is a corresponding need. Since Bitcoins do not consist of banknotes or coins, the reproduction takes place in a different way. Instead of printing money, Bitcoins are generated by Bitcoin Mining or Cloud Mining.

People all over the world mine or mine Bitcoins, which increases the currency. The idea behind this is that countless transactions are carried out over the network every day. These are collected by the system at a certain point in time. The transactions carried out within the time span are then put together in a block. With Bitcoin Mining or Cloud Mining, all collected transactions are now confirmed by the user through the Bitcoin Mining hardware. They are then stored in a virtual account book by the computing power. In this respect, it is the modern digital way of bookkeeping. The account book is therefore made up of all calculated blocks. In technical terminology this is called blockchain.

The account book is therefore a central element for storing the transactions made with Bitcoin Mining. This is to ensure the transparency of the system. Every user has the possibility to view the blockchain. This means that he is allowed to track which transactions have been made. Nevertheless, it is an anonymous network because the blockchain does not contain any information about the initiator.