Connect with us

News

The relevance of mining in 2019 – how to choose a cryptocurrency and what should be considered?

Published

on

The double blow, which consisted in falling prices and the ever-increasing complexity of mining, in 2018 became a complete knockout for Bitcoin miners. In this regard, let us consider whether to continue to mine bitcoin in 2019, and which altcoins can be a good option for the next year.

For bitcoin mining in 2019, only cloud mining is practically the only profitable solution, since it minimizes all the costs associated with the placement, configuration, maintenance, maintenance and monitoring of equipment.

At the same time, looking ahead, we note that Bitcoin mining (BTC) is the most reliable investment in our opinion, since there are no assets equal to BTC in importance and reliability in the cryptocurrency market.

Choosing a cryptocurrency for mining

Due to the decline in mining volumes, cryptocurrency is quite difficult to choose a new coin, given that price forecasts change almost every day. It is necessary to conduct a deep fundamental analysis, namely, to study the technology of the coin, the development team, etc.

This article lists the main factors that are important to consider when mining coins:

  • mining difficulty ;
  • recent price fluctuations;
  • price forecasts;
  • market capitalization;
  • number of use cases;
  • developer experience;
  • presence in social networks.

And do not forget about the "red flags", seeing that, you must abandon the production:

  • the project is conducting an ICO;
  • there is a masternod sale;
  • premining;
  • imitation as in the case of Ravecoin, which contain nothing new.

Determine the profitability of mining

After you have settled on a coin that satisfies all the parameters listed above, you must make sure that the mining will provide a profit (quite a difficult task, given the current state of mining cryptocurrency).

There are many factors that you have to take into account, for example, electricity costs, mining complexity, etc. We will not list all these items, as there are many calculators for a comprehensive calculation of the production of cryptocurrency .

And one more important point that you need to keep in mind is that these parameters constantly fluctuate, which makes the mining industry unpredictable.

Case in point: at the beginning of the year, the mining giant Bitmain was forced to lay off half of its employees and experienced several serious internal conflicts. So far, the achievement of the previous sustainable situation is not necessary.

Basic cryptocurrency for 2019

Let's start with the No. 1 cryptocurrency – Bitcoin , the mining of which turned into a multi-billion dollar business. In December of this year, the complexity of mining BTC decreased by 15% due to the fact that small miners massively left the market. Their place was taken by large mining farms, and they opened with more high-tech equipment than the previous participants in crypto-mining.

And this is not surprising, as it was recently estimated that mining Bitcoin is still 50 times more profitable than mining one of its forks Bitcoin SV.

The same applies to other currencies of Ethereum , which throughout the year 2018 was faced with bearish trends. Miners who have access to low electricity prices still remain in business, earning a certain profit.

A positive moment was the fact that due to an unexpected increase in prices in April, BTC miners managed to earn $ 305 million (which is 30% more compared to the previous month). It is noteworthy that in April, the commission for Bitcoin transactions jumped by as much as 250%, putting an additional $ 14 million in the miners' pockets.

According to Cryptocomes, China is currently considering banning mining of bitcoins due to its alleged negative impact on the environment. Such a turn of 180 ° is unlikely, but if it does happen, it can really be a turning point for Bitcoin, since a third of the miners will be ousted from the market and miners from other countries will get a significant profit increase.

Monero and ZCash: the best private coins

Now Monero is the 13th largest currency by market capitalization. Given the resistance to ASIC mining, this confidential cryptocurrency is especially attractive to miners. This means that you can mine Monero without buying expensive equipment, thereby breaking the Bitmain monopoly, which has already been shaken noticeably.

Bitmain developed a special miner for Monero, but the development team supplanted it with the help of a fork, which made mining ASIC ineffective.

Of course, due to the recent exodus from the market of miners, Monero's mining yields have declined, but low prices for video cards combined with low power consumption are still a good combination for mining Monero in 2019. However, despite the presence of positive price forecasts, you should not expect to receive daily profits from the sale of XMR.

Alternatively, you can consider mining another private cryptocurrency ZCash , which is responsible for more than 90% of all Equihash mining. In July 2018, ZCash hit the news headlines thanks to the outstanding mining profitability, which beat Bitcoin by 400%.

On April 24, the Zcash hash rate reached its historic maximum of 4 Gigahesh / sec, which marked a 42% increase from the beginning of 2019.

Grin is another PoW-based coin to consider when mining on a CPU (processor). Its developers have also made a choice in favor of ASIC resistance, which will be achieved with the help of hard forks held every six months.

Litecoin (LTC)

Litecoin is another original cryptocurrency that has existed since 2011. It is a good option for those who want to choose an already settled currency instead of coins without their own history.

LTC stands out due to fast transaction confirmation (block generation time is limited to ten minutes) and a more efficient storage solution.

A quick look at r / litecoinmining will show that the community is now in a bad mood and is mining for the sake of heating their home or maintaining their hobby. A recent price forecast showed that after the jump in prices in April, Litecoin is on a bullish path. In addition, it is expected that the halving Litecoin, scheduled for August 6, will be the main catalyst for growth.

Ravencoin (RVN)

This altcoin is a good solution for mining in 2019. Ravencoin was created using a fork of a bitcoin code. His mission is to efficiently create and transfer Bitcoin and Ethereum assets. Ravencoin is an open source American blockchain that has recently gained popularity due to the X16R algorithm using PoW mining .

Immediately it should be noted that the mining of RVN using ASIC will fail; developers from the first days of the creation of this altcoin announced their rejection of these devices. Mining speed can vary, therefore, mining only him, you may incur losses. That is why we recommend joining a large pool.

Bitcoin Gold (BTG)

Bitcoin Gold is a bitcoin fork, created specifically for mining on GPU (video cards) . From this point of view, Bitcoin Gold is a safer coin, as miners do not need to purchase equipment designed specifically for its mining.

Consequently, BTG miners will not have to throw out the equipment and close the business if the cryptocurrency price does not correspond to price forecasts.


We have listed some of the traditional options, but it is difficult to reduce your choice to a specific coin when you have more than 2000 options. Therefore, it is advisable to extract several coins at once in order to insure against possible losses. However, Bitcoin is definitely worth making the foundation of your cryptocurrency portfolio.

The best coins for mining on the CPU (processors)

Yes, you heard right – in 2019 mining using the CPU is still relevant. Of course, do not think that using your old laptop, you can earn at least a dollar. Below is a list of coins, the price for which one day can soar:

  • Nimiq;
  • Nerva;
  • Pascal;
  • Uplexa;
  • Blur.

You can also track new CPU coins using the site newcpucoins.com. The cryptocurrency market is still in its infancy, so there is a high probability that in the future the value of the new coin may explode (just try not to sell it prematurely).

Do I need to mine cryptocurrency in 2019?

Over the past few years, the mining of cryptocurrencies has turned into an enterprise of industrial level, so the days when it was possible to earn money with it were mostly over. In the first half of 2018, prices for cryptocurrency began to fall, and many miners were forced to leave this business.

However, in 2019 the situation changed and the mining became quite profitable again, at least if we talk about cloud mining, because it minimizes all the costs associated with the placement, configuration, maintenance, maintenance and monitoring of equipment. A detailed review of cloud mining services can be found here .

Publication date 07/26/2019
Share this material on social networks and leave your opinion in the comments below.


News

Binance Exchange added the ability to purchase cryptocurrency from Mastercard

Published

on

This Friday Binance Exchange announced the addition of the possibility of buying cryptocurrencies using bank cards in the Mastercard system.

The service covers 19 countries, including Russia and Ukraine. There are no other CIS countries on the list yet.

To use the option, you must log in to your personal account at https://www.binance.com/ , go to the “Buy Cryptocurrencies” tab and select payment using a bank card. Bitcoin, Ethereum, XRP, Binance Coin, USDT and some other assets are available for direct purchases from Mastercard cards.

Previously, users already had the opportunity to buy cryptocurrency on Binance using Russian Visa cards.

Also this morning, Binance CEO Changpen Zhao hosted another live broadcast at Periscope. Zhao’s speech mainly covered the latest achievements of the exchange, including the launch of the Binance Card , mining pool , Binance KR, OTC portal, as well as cooperation with Brave and the acquisition of CoinMarketCap . In addition, Zhao recalled the need to maintain social distance.

“We have completed the initial development of platforms, and now I think it is important for us to support mining , since bitcoin mining is now centralized. We want more players to take part in it, as well as support existing players, ” he said.

In addition, on his Twitter, Zhao shared a screenshot testifying to the preparation of the exchange for the launch of option trading.

He left no comments on this subject. In the main Twitter account of Binance, a list of tasks for testers that was “publicly available” was posted. Among other things, it includes the item “test option trading”.

Publication date 04/04/2020
Share this material on social networks and leave your opinion in the comments below.


Rate the publication
Continue Reading

News

TRON (TRX) cryptocurrency review – forecasts and prospects, current rate

Published

on

5/5 (1 vote)

Cryptocurrency TRON (TRX) is a decentralized protocol based on blockchain technology designed to create a global entertainment network with free content.

In simple terms, TRON is a service similar to all well-known social networks and platforms where users have the opportunity to publish, view and use any available content for entertainment, for example, online games.

The TRON project is currently developing the idea of joint consumption, which is that on a single global platform, users will be able to share entertainment content.

Official TRON cryptocurrency website: https://tron.network

Analysts call this platform the broadcast of the modern entertainment industry. In general, the functioning of this system is as follows:

  1. The author or copyright holder publishes the result of his intellectual work on the official website. You can download anything from literary novels to an author’s song or art on a specific topic. Next, the participant uploads information about how his creation can be used (as an accompaniment to another work or as an independent product). Nearby, he indicates the price of his work.
  2. Another user who is interested in this work acquires it for the local currency Tron (TRX). However, users should remember that it is impossible to purchase this or that product on this resource using fiat money (dollar, euro, rubles, etc.). The system has its own cryptocurrency , which must be purchased at exchangers or exchanges in order to complete a transaction.
  3. As soon as the interested user has acquired the result of intellectual work, the amount indicated by him is transferred to the author’s account. The author can use the tokens at his discretion – purchase a work from another author, simply save money in his account, or exchange it for another cryptocurrency or fiat funds.

About what TRX is, initially interested in all users who are just starting their activities on the site. This resource uses several types of tokens for different purposes:

  • Tron (TRX) . This is the main currency of the system. For this currency you can buy or sell the results of your intellectual work. If necessary, the owner of a certain amount in this currency can exchange it for fiat money or other cryptocurrency.
  • Tron Power It is impossible to purchase or exchange other money for a given currency. The only way to get them is to secure the TRX currency on the site platform. In this case, they are converted to TR. The presence of such tokens gives advantages to their owner. For example, the holder of a TR has the right to vote for one or another change in the system, or to oppose them.
  • TRON 20 . Coins owned by developers. With the help of them, they create new full-fledged blockchains with new tokens.

The TRON cryptocurrency issue is limited, 100 billion coins have been issued at present. However, it is worth considering another point – starting in 2018, tokens begin to be burned (they are meant to be forwarded to an address known only to developers). The last major burn was in June last year, but how often such procedures will be carried out is currently unknown.

project team

The team of this project has on its side professionals working in various fields. The founder of the platform and the creator of TRX Coin is Justin Sun , who also created a social network with an audience of 10 million people. In 2017, Forbes magazine included Justin on his list as one of the most successful entrepreneurs, who was not yet 30 years old.

The technical director of the project is Lucien Chen , who has extensive experience in working for large Internet companies. He is perfectly versed in blockchains and the principles of functioning of cryptocurrencies.

Deus Yu , responsible for quality control, has been working in the computer games industry for a long time. According to Justin Sun, the experience of Deus will come in handy a little later, when the platform gains even greater popularity.

Charles Zhang , an adviser who is well versed in a business not related to cryptocurrencies and blockchains. He has repeatedly lectured on the basics of entrepreneurship, with which he was invited to many universities. Charles made a huge contribution to the promotion of the platform at the initial stage.

Blockchain Browser

Block Explorer is a search tool that allows you to view the addresses of wallets involved in the system, blocks, as well as data of transactions completed or committed. It can be compared with standard browsers, with the help of which an ordinary user searches for the information he needs on the Internet.

For each cryptocurrency, a personal Block Explorer is created that shows the network status for a given period of time. For the Tron cryptocurrency, such a Block Explorer is called TRONSCAN , where users can get all the information they need ( https://tronscan.org ).

How to mine Tron?

The developers of the platform did not provide for mining the Tron cryptocurrency , since they had already created all the necessary coins. In addition, the creators talked about the scheme according to which their cryptocurrency will work:

  1. 40% of the total number of coins will go on sale to enable the project to develop further.
  2. 15% of the remaining amount is allocated for acquisition by investors. Investors are players who, after the main sale of coins, will be ready to purchase tokens further.
  3. The remaining funds are “frozen” and remain in the accounts of the company owners.

Justin Sun explained that perhaps mining will be provided in the future when the company gains the necessary popularity.

TRX Token Wallets

The user can choose one of two options for storing Tron coins (TRX):

  • Storage of tokens on the exchange;
  • Creating your own crypto wallet.

With proper use, wallets provide a higher level of security. All types of wallets for Tron (TRX) are described in detail in this review .

Buying and selling TRX coins

You can buy a Tron on popular crypto exchanges , we recommend that you use the first 15 exchanges, and do not forget to install additional account protection. On the selected exchange, you must go through the registration procedure, after which you will be given a personal wallet, as well as its address.

The most popular and safe exchangers where you can buy and sell Tron:

The exchange rate of the Tron cryptocurrency against the ruble as of October 28, 2019 is 1.29 rubles per 1 coin. For a detailed analysis of the course and chart of coins, we recommend that you look at the Coinmarketcap website.

Development Perspectives and Company Roadmap

A distinctive feature of the project is its roadmap, which is scheduled until 2027. It is divided into several stages:

  1. Exodus It lasts from 2017 to 2018 and is considered officially completed. During this period, information about the project was actively disseminated, as well as developers were engaged in improving tools for using the site.
  2. Odyssey . Accounted for 2019-2020. During this time, developers will pay special attention to the economic development of the platform.
  3. Great Voyage . Captures July 2020 and ends in July 2021. Implementation of a personal ICO system, and third-party developers will have the opportunity to launch their own ICOs.
  4. Apollo It lasts from March 2021 to March 2023. Creating a decentralized exchange platform.
  5. Star Trek . It begins in April 2023 and ends in September 2025. Creation of a decentralized platform for the development of any computer games.
  6. Eternity . It starts in September 2025 and ends in September 2027. Platform users will have the opportunity to create their own playgrounds.

The developers mentioned that if these plans are implemented, a new roadmap will be created in the future, which will begin in 2028.

When analyzing the active nodes of the Tron cryptocurrency, you can notice the scale of the development of the project, where the majority of servers are located in the USA, China and Germany.

The forecast for Tron cryptocurrency from leading analysts suggests that, taking into account the current features of the crypto asset, in the future the project can absorb the entertainment market. And this means that in 2020 the value of one coin is able to stand on one level with the dollar.

Main competitors Tron

The project has two main competitors – Qtum and Ethereum . Each competing company has its own advantages, for example, the first has a more advanced platform in terms of technology, and the second wins due to smart contracts and fame.

Analysts are confident that the Tron platform will still have to fight for its users, since the developers are aimed at a specific audience. However, the Throne does not have special advantages that would distinguish the project from its competitors, which could become a serious problem in the future.

Conclusion

Tronix cryptocurrency has good prospects for further development, since the project itself is one of the most ambitious among others. However, at present it is not in demand. Investing in such a project will bring quite large risks, however, long-term investments can bring the investor good profit.

Share this material on social networks and leave your opinion in the comments below.


Continue Reading

News

The largest exchange Binance has the opportunity to deposit / withdraw deposits in rubles

Published

on

5/5 (1 vote)

The Binance cryptocurrency exchange this Wednesday activated the possibility of making deposits in Russian rubles.

According to the instructions provided on the website, deposit / withdrawal of funds is carried out through the AdvCash payment system , including using bank cards. The commission for the deposit in this case is 3%, for the withdrawal – 2.5% plus 50 rubles.

To deposit / withdraw assets in rubles, you need to go to the “Buy cryptocurrencies” tab in the upper control panel or select the “RUB” currency in the user's wallet, then indicate the desired direction of payment and other necessary data.

Trading pairs for exchanging the ruble for cryptocurrencies on the Binance platform have not yet been presented.

Earlier today, CoinDesk published excerpts from a conversation with Binance CEO Changpen Zhao during his visit to Moscow last week.

“We are always looking for partners in any community, especially in Russia. Russia is a key market for us, it is one of the most active markets in the global blockchain space, ” he said then.

Zhao also confirmed that Russia is included in the Venus project, in which Binance intends to launch several regional stablecoins.

“We are working with potential issuers of stablecoin tied to fiat currency. We do this in all jurisdictions, in Russia in particular, we are looking for partners, ” he added.

Last week, Binance listed its first cryptocurrency pairs on its main platform, starting with Nigerian naira. The exchange also supports fiat trading at selected sites in Uganda, Singapore, the United States and Jersey.

Publication date 10/30/2019
Share this material on social networks and leave your opinion in the comments below.


Continue Reading
Advertisement

Name Price24H (%)
Bitcoin (BTC)
$9,387.14
-0.82%
Ethereum (ETH)
$219.15
-0.72%
XRP (XRP)
$0.197319
-1.40%
Bitcoin Cash (BCH)
$236.88
-1.08%
EOS (EOS)
$2.60
-1.07%
Stellar (XLM)
$0.067136
-2.25%
Litecoin (LTC)
$44.23
-1.13%
Cardano (ADA)
$0.063966
2.77%
Tether (USDT)
$1.00
-0.21%
Monero (XMR)
$65.74
-1.86%
Advertisement

Trending

Copyright © 2018 blockchainjournal.news