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The worst month for Bitcoin, problems of the mining industry and other key events in the world of cryptocurrency



Summing up not only the week, but the month. And for the crypto market, alas, they are not too bright.

November of this year was the worst month for Bitcoin in the last seven years. In just one month, the first cryptocurrency fell in price by more than 37%. Even during the week, she behaved rather unstable – barely starting the recovery and rushing to the $ 4,500 mark, Bitcoin again dropped below $ 4,000 , returning above this psychological mark on Saturday, December 1st.

Despite the fact that the seven-day bitcoin segment completes all the positives that experts, including managing partner of venture capital firm Morgan Creek Anthony Pompiano, believe that the first cryptocurrency can reach a “bottom” at 85% below its historical maximum, that is, at about $ 3,000. The same mark as the next key support level is indicated by CoinDesk analyst Omkar Godboul.

Returning to the results of the month, it should be noted that the fall of Bitcoin has traditionally provoked the collapse of the entire market. Thus, from the first 25 cryptoactive assets CoinMarketCap, only Bitcoin Cash fork, Bitcoin SV, showed a positive trend in November.

Meanwhile, China has published another rating of cryptocurrency. It was again headed by EOS and Ethereum, and this time, Bitcoin rose to 13th place (last month, experts gave the first cryptocurrency 19th place in the rating).


The founder of the mining pool, F2Pool, Mao Shisin, said that from mid-November, in conditions of a collapse of the market and a declining hash rate, between 600,000 and 800,000 bitcoin miners were disabled. According to him, most of the miners who have stopped work are likely to use outdated device models, such as Antminer T9 + from Bitmain or AvalonMiner 741 from Canaan Creative. The production capacity of these devices is about 10 TH / s, and according to F2pool calculations, in the current situation, their work is unprofitable.

Somewhat earlier, Mao Shisin published a video in which a huge number of mining devices are simply unloaded onto each other near an unknown building.

It is noteworthy that this week the service of free ads "Yula" calculated that amid a sharp fall in the price of Bitcoin, the Russians began to sell mining equipment. So, on November 19 and 20, the number of mining device ads increased by 25%. At the same time, Russians began to look for ASIC Antminer three times less frequently than in January, and the request for mining farms decreased by 2.5 times. Yula data also shows that the number of requests for searching for mining cards decreased by 24% compared with the data of the beginning of the year.

Despite all this, mining continues to be the focus of attention of many entrepreneurs. This confirms, for example, the agreement between the Government of Paraguay and the South Korean company Commons Foundation, under which the latter will build the “world's largest” data center for mining cryptocurrency. Within the framework of the project “Gold mine”, the authorities will provide the Commons Foundation with five land plots with a total area of ​​50,000 square meters. The Itaipu hydroelectric station will provide energy for the future data center. In addition, the company undertakes to create a cryptocurrency exchange.

In addition, Munich-based investment firm Xolaris has announced the launch of a private fund for direct investment in the Bitcoin mining business in Europe. Additionally, the company plans to open another fund in the Asian region. It is planned to attract 30 million euros to the first fund, 50 million euros to the second.

Bitmain, which launched the Bitmain Crypto price index to track the dynamics of the 17 most liquid cryptocurrencies in real time, took care of its users.

We strongly recommend not to miss our exclusive interview with the co-founder of the first and oldest pool Slush Pool and the current Braiins CEO Jan Chapek:

Slush Pool – the oldest mining pool told how collapse in the markets affects the profitability of mining Bitcoin


At the end of the G-20 summit on Saturday in Buenos Aires, the heads of the participating countries signed a final declaration , which, in particular, noted the need to regulate cryptocurrency and create a unified tax system for digital assets. Thus, the document confirmed that the regulation of digital assets is necessary for building an “open and sustainable financial system” and will be carried out in accordance with the standards of the Financial Action Task Force on Money Laundering (FATF).

This week’s publication of RBC reported that according to the latest amendments to the Russian draft law “On digital financial assets”, the Central Bank of the Russian Federation will regulate the issue, accounting and circulation of tokens. The definition of mining and the turnover of existing cryptocurrencies are completely absent in the draft version prepared for the second reading. The bill also does not spell out the concept of "token". Instead, it includes digital financial assets (CFAs), which include monetary claims, equity securities and digitized rights to participate in capital.

It should be noted that the Council under the President of the Russian Federation on the codification and improvement of civil legislation stated that the adoption of the draft law “On digital financial assets” in the current edition will return the Russian financial market in the 1990s, and recommended that the State Duma’s financial committee return the draft law to the first reading for its many flaws

Meanwhile, the administration of the High Technology Park (HTP) of Belarus, with the assistance of the aforementioned FATF, has developed rules for regulating the cryptoindustry in the country, according to which all the HTP residents must meet the standards agreed with the National Bank of the country. According to the new requirements, cryptoplatform operators must conduct mandatory customer identification (KYC) in order to comply with AML / CFT rules and provide reports on funds in each customer’s accounts. The authorized capital of cryptocurrency platforms must be at least 2 million Belarusian rubles, for ICO operators this amount is equal to 500 thousand.

The head of the US Securities and Exchange Commission (SEC), Jay Clayton, spoke about the position of the regulator regarding the initial offers of coins, noting that, unlike many ICO tokens, bitcoin does not have the properties of securities. According to him, in order for the ICO organizers not to have problems with his SEC, they should hold their tokensails abroad. Clayton also mentioned the possibility of holding to the closed offers of coins, where up to 35 investors are participating. In this case, the tokens do not qualify for the securities, but restrictions are placed on the possibilities of promoting such a project.

Finally, it became known that the Estonian Ministry of Finance is preparing to amend the recently adopted Law on Combating Money Laundering and the Financing of Terrorism, which will also be aimed at tightening regulation of the cryptocurrency industry. Previously, the provisions of the law included “service providers in the field of making payments using alternative payment mechanisms,” but now they will be expanded to “virtual currency exchange service providers” and “virtual currency service providers”.

Tether resumed account verification and the possibility of direct withdrawal of USDT in Fiat

Tether, the issuer of the most popular steakblock of USDT, has opened verification for new users.

In addition, users can now use the updated platform for direct withdrawal of USDT tokens to fiat dollars. As noted in the company, previously direct conversion was temporarily suspended due to a significant increase in transactions that continued over the past year. Now, thanks to a partnership with Deltec , Tether has the opportunity to return to the “original vision,” according to which users can directly perform operations on the platform without relying on intermediaries.

Nasdaq and VanEck will launch Bitcoin Futures 2.0

The second largest stock exchange in the world, Nasdaq, has entered into a partnership with investment firm VanEck to launch “regulated futures contracts version 2.0”.

As VanEck Director for Digital Asset Strategy Gabor Gurbach said, new financial products will be launched next year and will use the SMARTS control system developed by Nasdaq. In this case, the price will be formed on the basis of the MVIS index developed by VanEck . Such an approach, I am sure Gurbah, "will give confidence to regulators and organizations seeking to enter the cryptocurrency market."

It is not yet known whether the new futures will be settlement (as on CME or CBOE) or deliverable (as on Bakkt, which is about to launch).

Coinbase added support for Zcash

The leading US cryptocurrency exchange Coinbase announced this week the beginning of support for the privacy-oriented cryptocurrency users Zcash. The first step was to add Zcash to the Coinbase Pro Stock Exchange, trading started on Friday, November 30, and is still available to users in the United States, the European Union, Canada, Singapore and Australia. Other jurisdictions may be connected to trading at a later stage.

Note that the withdrawal of funds at the initial stage is only available at transparent (protected) addresses. In the future, Coinbase will consider the possibility of withdrawing funds to anonymous addresses in those jurisdictions where legislation allows it.

As of Sunday evening, the price of Zcash for the 7-day segment increased by 20% and is in the region of $ 78.5.

Additionally, a number of media outlets reported that Coinbase, without undue publicity, made the option of withdrawing fiat currencies to the PayPal account available.


This week we launched the video project “Bitcoin and New Finances”. In the first video, we talked about the reasons for centralizing the exchange of cryptocurrencies with the developer of the consensus algorithm Pandora Boxchain Andrei Sobol, IOHK researcher Roman Oleinikov and already very well-known to our audience trader and analyst Ton Weiss.

Subscribe to the BlockchainJournal channel on YouTube !


Robert Kiyosaki: Bitcoin will be the future of finance, unlike real estate and gold



Robert Kiyosaki, author of the best-selling book Rich Dad, Poor Dad, said real estate and gold investments cannot be the future of finance, as cryptocurrency has come into the spotlight. The entrepreneur, who several times this year called the ideal investment portfolio to invest in gold, real estate and bitcoin, now believes that only cryptocurrency will strategically win.

In an interview with Anthony Pompliano, managing partner of cryptocurrency investment company Morgan Creek Capital, Kiyosaki said that you really need to look “beyond the horizon” of the current financial situation. He admitted that it was not easy for him to understand the phenomenon of cryptocurrencies, but nevertheless he made an effort, conducted an analysis and made certain conclusions.

According to Kiyosaki, bitcoin will reach the level of 75 thousand dollars within three years.

“It is very important to understand how cryptocurrencies work, as the financial world is already starting to change. Those investors who will continue to rely on gold and real estate will find themselves outside the main changes in the sphere of global finance. ”

The entrepreneur made his forecast while on July 9 a troy ounce of gold reached almost a 9-year high (about $ 1800), if we do not take into account the accumulated inflation in the US dollar.

Meanwhile, the precious metal has not reached the historical maximum of 2011, since for this formally a troy ounce it is necessary to rise above $ 1900, but in fact – it is sure to overcome the mark of $ 2050, given the accumulated devaluation in the US currency.

Recall that entrepreneur Kim Dotkom and billionaire Mike Novogratz declared their investment preferences in the form of gold and cryptocurrencies .

Date of publication 07.15.2020
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Staking and cryptocrediting – which is more profitable than stablecoins or PoS cryptocurrencies?



In this article, we will consider the prospects of cryptocurrency staking as a new way of passive earnings, about the differences between staking and cryptocrediting, as well as about the main platforms designed for this.

If you have not been interested in staking before, then a variety of coins and platforms that support this type of passive income can make you dizzy. And with the advent of stablecoins, the choice has become even wider. What type of coins is better in terms of profit and risk?

Cryptocurrency Staking in 2020

A year ago, cryptocurrency staking was much simpler than now. The cryptocurrency market was attended by only a few specialized platforms, a pair of popular cryptocurrencies and approximately the same rate of return.

But these times have passed: in 2020, staking has grown into a serious segment of the crypto industry for several reasons.

  • Firstly, the market now has more than 30 PoS coins that support the possibility of staking.
  • Secondly, many kriptobirzh now there own PoS-nodes – an interesting alternative to special steykingovym platforms.

Moreover, now investors are provided with staking and deposit accounts in stablecoins, which allow minimizing risk and getting profitability at the level of PoS-coins or even higher. What to choose?

To find out, you need to compare the two main options on the market (PoS coins and stablecoins), according to a number of clear criteria. However, an important reservation must first be made about the nature of staking.

Staking and cryptocrediting are not the same thing

Coins that use the Proof-of-Stake (PoS) consensus algorithm – Tezos, Cosmos, BIP, and LOOM – initially support staking. While the value of stablecoins is tied to a specific asset – for example, to the US dollar.

Stablecoins are not available for styling, but loans – coins are issued as a loan to another user who pays a deposit in response. However, for investors there is no particular practical difference between staking and lending. That is why one can hear on the cryptocurrency market, for example, about “USDC staking”.

Real ROI and Volatility

Let us compare the return on investment in PoS coins and stablecoins and how this indicator is affected by the volatility inherent in the crypto market.

  • PoS coins . Each coin has its own nominal rate of return built into the algorithm. For example, for Cosmos (ATOM) it is 8.35%. However, a really important value is the real profitability, which is calculated on the basis of price changes for any period. For example, if you invested $ 10,000 in the stake of ATOM coins on January 1 of this year, then by June 1 you would have received a nominal income of about 3.5%. Instead of 2309 coins, you would have 2390. However, over the same period of five months, the price of a coin fell by more than 30%: from $ 4.33 to $ 2.96. The cost of the steak, along with interest, would be only $ 7075, and the real ROI would drop to -30%.
  • Stablecoins . Everything is simple with them: what rate is declared, the investor receives such ROI, minus the platform commissions. On cryptocrediting platforms, the rates are quite stable and allow you to predict income: for example, if you pay 1.94% per annum for USDC deposits on Fulcrum platform, then your profit in dollar terms will also be 1.94%, unless something out of the ordinary happens the USDC coin will not lose its peg to the US dollar.

Verdict: on average, the real ROI of stablecoins is higher and more predictable, as there is almost no volatility. A PoS coin can suddenly increase in price and bring profitability of 20% or more, but it can also lose half its value.

Number of platforms available and conditions

Next, we compare the number of available platforms for staking PoS coins and stablecoins and the conditions that they offer to holders.

PoS Coins

Dozens of platforms offer staking popular coins like Tezos and Cosmos. These sites can be divided into two categories:

  • Specialized sites are Staked, Staking Lab and Dokia Capital, among others.
  • Crypto exchanges – Bitfinex, Kraken, and KuCoin are among the smaller platforms.

Of course, platform competition is good for investors, but such a wide choice also means that you have to spend more time searching for information.

Having chosen a coin, it will be necessary to study the rates of return taking into account the commission at different sites, as well as assess the risks of each of them. Moreover, commission rates on different platforms can vary greatly, which affects the investor’s income. For example, for the ATOM coin, the Binance exchange promises a yield of 6–9% per annum, while on Stakin this figure will be 9.1%, and on – only 6.1%.


This type of digital asset can be deposited on various lending platforms:

  • Centralized – BlockFi, CoinLoan, Nexo, as well as a number of exchanges – Binance , Bitfinex, Poloniex.
  • Decentralized – Compound, Nuo, dYdX, Aave and others.

It should be borne in mind that different lending platforms can offer completely different rates for the same coin. For example, deposit income in USDC ranges from 1.25% to 8.6%.

Verdict: by the number of platforms, ordinary staking coins win. However, in the case of staking or lending in stablecoins, choosing a platform is easier: you do not have to compare so many options.

Risks: interest in the project

We have already mentioned volatility as a key risk factor. When staking stablecoins, the investor receives a reward in cryptocurrency , which can often be exchanged for fiat. But staking PoS-coins can lead to losses due to volatility. Another factor by which it is worth evaluating the profitability of investing in a PoS coin is the level of interest in a particular coin.

Stablecoins have a significant advantage: they were originally created as a reliable way to store and transfer funds between participants in a transaction. In the current crisis, investor interest in stablecoins can only grow. On the other hand, each PoS coin is a cryptocurrency of some kind of blockchain project , which can both succeed and fail. If the founders do not launch the product, then the price of the token may fall.

Another risk factor is the platform on which staking takes place. Both for stablecoins and for PoS-coins, both centralized (custodial) and decentralized (non-custodian) platforms are available. A cryptocurrency exchange like Binance is a classic example of a custodial solution: you transfer coins to the exchange for storage. If she is attacked by hackers, your steak may disappear.

In the case of non-custodian platforms, the risk of theft or fraud is quite low. It doesn’t matter which asset to use when staking or depositing and where: USDC – on Compound, USDN – on Waves․Exchange, XTZ – on P2PValidator.

And vice versa: on custodian platforms, the risks are higher, both in the case of providing stablecoins on credit, and in the case of PoS-coins staking. And since the bulk of PoS staking passes through exchanges such as Bitfinex and Binance, we can conclude that, on average, the risks of owners of PoS assets are more serious.

Verdict: PoS coins are more risky, because their price is highly dependent on both interest in the blockchain project itself and market sentiment. It is safer to choose non-custodian platforms for both types of coins.


Nominal rates of return for PoS coins are often very attractive, but price fluctuations can lead to negative profitability. In the case of stablecoins, a positive result is almost guaranteed. At the same time, you should not expect earnings on stablecoin more than 15-17%, although it is possible with a PoS asset.

Ultimately, the choice should depend on your personal attitude to risk. Investors who are willing to take risks in the hope of earning super-high returns should invest in a classic PoS coin – for example, Tezos .

If it is important for you to keep the investment (especially in the case of large amounts), then stablecoins are definitely preferable due to the better risk-to-ROI ratio.

As the global economic crisis deepens, more and more investors will acquire crypto assets. This will undoubtedly change the market balance in the segments of staking and cryptocredit. How exactly? We will find out soon.

Date of publication 09.07.2020
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Binance Exchange added the ability to purchase cryptocurrency from Mastercard



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 , 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
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Monero (XMR)


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