OnMiners S.A. is launching a new generation of endothermic cryptocurrency mining rigs that promise high power but low energy consumption while reducing heat and noise generation.
Lowering Mining Costs with Endothermic Chips
New companies and new technologies are entering the crypto mining space with the aim of lowering costs and energy consumption. OnMiners is one such company based in Luxembourg that was founded by a group of financiers that have invested in the creation of a new generation of Endothermic Multi-Algorithm CHIP.
Endothermic refers to a chemical reaction that absorbs energy from its surroundings and lowers the temperature.
On March 18, 2019, OnMiners announced the official launch of three mining rigs namely, On2U, On4U, and OnTower.
These rigs can mine an array of cryptocurrencies, including Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Monero (XMR), Dash (DASH), and Zcash (ZEC). OnMiners specifies the hash rates that each rig delivers, as follows:
• On2U: 140 TH/s for Bitcoin, 38 GH/s for Litecoin, 5 GH/s for Ethereum, 230 KH/s for Monero, 1.3 TH/s for Dash, and 1.1 MH/s
• On4U: 270 TH/s for Bitcoin, 75 GH/s for Litecoin, 9 GH/s for Ethereum, 450 KH/s for Monero, 2.5 TH/s for Dash, and 2.1 MH/s
• OnTower: 1620 TH/s for Bitcoin, 450 GH/s for Litecoin, 54 GH/s for Ethereum, 2700 KH/s for Monero, 15 TH/s for Dash, and 12.6 MH/s
At the launch of these mining rigs, Hisao Saito, the CEO of OnMiners said,
With hash-power rates like never before, we are extremely confident that our mining rigs will have a game-changing impact on the market.
Crypto Miners Arms-Race
For the last several months, adverse market conditions and high energy costs have significantly lowered cryptocurrency mining profitability.
As a result, to survive, crypto miners are being forced to try new technologies that take advantage of cheaper and alternative sources of energy. For example, some miners are now turning to solar power to cut mining costs.
The advent of this generation of the Endothermic Multi-Algorithm CHIP now offers miners another option to lower costs. As Hisao Saito put it,
The global market has seen lots of mining farms closing down their operations in the recent months. With the release of our new products, investors now have a great opportunity to get back in business with higher profitability than ever before.
What do you think about running Bitcoin mining operations on endothermic chip technology? Let us know in the comments below!
Images courtesy of OnMiners, Shutterstock
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Verge (XVG) Releases Revised Blackpaper and New Codebase
The group at Verge (XVG) have ushered within the New Year with two new bulletins this previous week. The first one being that they’ve launched the 5th model of the venture’s black-paper. The 2d announcement that was once made through the group at XVG was once that the Verge 5.0 Codebase is to be had on Github for Alpha checking out.
New Verge Blackpaper
The term black-paper was once first of all used to outline a chain of articles on British schooling revealed from 1969 to 1977. Their title was once meant to distinction the federal government issued white papers on the time. A white paper is an authoritative information or document that informs the reader a couple of complicated factor.
In the case of cryptocurrencies, maximum initiatives factor white papers that provide an explanation for to customers and traders of the virtual asset, at the long term plans of the venture. The group at Verge made up our minds to seek advice from their detailed document as a black-paper.
The 5th model of the blackpaper is available online and highlights the present and long term plans of the XVG community. Of specific passion within the new blackpaper, is the detailed clarification of TOR integration, I2P integration, the usage of the Electrum pockets, Atomic Swaps (cross-chain buying and selling) and Rootstock integration (aspect chains for sensible contracts).
Alpha Release of the Verge Codebase
The Alpha version of the fifth Verge Codebase is recently available on Github. This model is recently simplest to be had to builders and goals at checking out vulnerabilities in addition to figuring out insects prior to beta/public unlock.
The group at Verge made up our minds to rebase the XVG code to that of Bitcoin after the community was once hacked more than one occasions mid final 12 months. This was once geared toward making the community extra safe and no more liable to assaults. The rebasing incorporated the addition of options distinctive to XVG akin to stealth addressing and Tor.
The group had additionally clarified that the brand new codebase didn’t have the BTC safety computer virus that were recognized in early October final 12 months. The team explained:
We already took our time to analyze this factor inside our newest codebase and we got here to the realization that we aren’t liable to this sort of assault. As added safety, we’re going to come with the bitcoin repair into our new codebase as neatly.
What are your ideas at the fresh trends within the Verge cryptocurrency venture? Please tell us within the remark phase underneath.
Disclaimer: This article isn’t intended to offer monetary recommendation. Any further opinion herein is solely the writer’s and does now not constitute the opinion of Ethereum World News or any of its different writers. Please perform your individual analysis prior to making an investment in any of the a large number of cryptocurrencies to be had. Thank you.
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Is Elon Musk Losing it? Laying Off 3,000 American Workers to Build a Gigafactory in China, & Tesla’s Enormous $1 Billion Debt
By CCN.com: Trying to make heads or tails of Tesla’s monetary footing is still a job. The just right information for Elon Musk helps to keep getting trumped through worrisome, if no longer flat out dangerous information.
This month is proving to be a making an attempt one for Tesla founder and CEO Elon Musk. It’s sufficient even to offer Tesla’s legion of fanboys a headache. From no longer handing over sufficient cars to fulfill Wall Street gamers, to having to lay off workers, Musk is making strikes which are humbling.
Laying Off 3,000 American Workers, Building a $2 Billion Gigafactory in China
Tesla’s contemporary lay offs got here simply after Tesla introduced it was once development its first gigafactory outdoor the United States in Shanghai. The gigafactory will value round $2 billion in step with Reuters. CCN reported that Tesla could be shedding greater than 3,000 of its 45,000-strong group of workers within the United States.
The layoffs have an effect on employees at Tesla and SpaceX, which Musk additionally based. Then the elephant within the room seems, Tesla were given $1 billion in debt which is due March 1st. Aggravating the placement is the construction of the debt deal, which might critically harm the corporate’s money stability.
All this simply after Tesla reported news that are meant to have despatched its inventory upper. During the fourth quarter of 2018, Tesla delivered a document collection of cars. The determine was once 90,700 to be precise. That was once simply 2,000 gadgets shy of expectancies.
Disappointed, knee-jerk reactor traders and buyers despatched the inventory decrease.
Tesla’s Major $1 Billion Debt Problem
According to regulatory filings with the U.S. Securities and Exchange Commission, the Tesla debt coming due March 1st involves $920 million of convertible senior notes.
The equity-conversion worth is $359.88, Bloomberg reported in December. The drawback for Tesla is that it has no longer traded above that worth since December 2018.
If Tesla’s inventory is beneath the $359.88 worth through March 1, the notes should be paid in money to the notice holders. If the inventory’s worth is going above $359.88, the notes may well be transformed into fairness stocks, in step with Business Insider.
Business Insider reported in October 2018 that Tesla had a complete of $2.2 billion money readily available (June 2018). If Tesla has to pay the expiring debt in money, they would scale back their money stability through just about 50%.
Michael Ramsey, an car analyst at Gartner, informed Business Insider:
“They very likely are going to have to borrow more money”
For Tesla, When It Rains, It Storms
News of the just about $1 billion in debt coming due got here at the heels of Tesla placing 1000’s of employees out of work.
On Friday, Musk despatched a letter to Tesla staff concerning the coming crimson slips. He defined that beginning round May, the corporate will ramp up its effort to ship extra reasonably priced Model 3s. The Model 3s have been intended to be probably the most reasonably priced in Tesla’s fleet.
The want for less expensive Model 3s turns into much more vital on July 1, when america tax credit score Tesla gained drops in part, in step with Musk. Musk wrote that the drop would make its automotive
“$1,875 more expensive, and again at the end of the year when it goes away entirely.”
Here’s an excerpt:
“… we, unfortunately, have no choice but to reduce full-time employee headcount by approximately 7% (we grew by 30% last year, which is more than we can support) and retain only the most critical temps and contractors. Tesla will need to make these cuts while increasing the Model 3 production rate and making many manufacturing engineering improvements in the coming months.”
The function is to reach economies of scale required to make the Model Three at $35,000. “There isn’t any other way,” Musk states.
This brutal remark is in stark distinction to different bullish statements from Musk.
Elon Musk Might Be Losing It
Take what he mentioned concerning the SEC, as an example. In December, he mentioned on information display 60 Minutes:
“Let me be clear: I do not respect the SEC. I do not respect them.”
Musk was once smarting over the regulator stripping him of his position as chairman of Tesla’s board. The SEC fined Musk $20 million for tweeting he was once taking the corporate personal at $420 a proportion. Pot fans briefly deduced the “$420” in connection with “Weed Day.”
Am making an allowance for taking Tesla personal at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018
The tweet didn’t sit down neatly with the SEC, which mentioned Musk didn’t end up he’d secured any investment.[youtube https://www.youtube.com/watch?v=ycPr5-27vSI?feature=oembed&w=500&h=281]
Up, Up, And Away Go SpaceX Jobs
The rocket corporate SpaceX could also be beneath monetary pressures. To streamline its industry and minimize prices, SpaceX’s 6,000-employee workforce will be reduced by 10 percent.
SpaceX famously shot a Tesla Roadster into house in 2018 as a part of the primary flight of its Falcon Heavy rocket. On board was once the dummy Starman wearing an astronaut swimsuit.
Tesla closed down nearly 13% Friday at $302.26.
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Brexit Deadlock: Is a 2nd Referendum Looming? Nigel Farage Thinks So
Former UKIP chief Nigel Farage took to a stage in London overdue final week and delivered the scoop that his target market didn’t wish to listen.
A rerun of the 2016 EU referendum might be at the playing cards. Speaking to a pro-leave target market, Farage used to be blunt and to the purpose.
“It is now quite possible that we will see an extension of Article 50. When I’ve talked in the past about being worried that they may force us into a second referendum…I don’t want it any more than you do, but we have to face reality.”
Nigel Farage used to be a key campaigner within the unique Brexit marketing campaign. He now fears that the House of Commons may prolong Article 50 and overturn the preliminary vote. Triggered in 2017, Article 50 is the criminal process wherein a rustic can withdraw from the EU following a two-year negotiation length.
That two-year length is about to come back to an finish on March 29, 2019.
Article 50 Supposedly “a Point of No Return”
Despite a commentary issued through the EU Commission at the day Article 50 used to be prompted that mentioned it represented a “point of no return,” we is also seeing a softening of that stance. The EU Parliament’s criminal carrier has hinted that Britain may prolong its club past summer season 2019. There are EU elections scheduled for May, however issues over how this could play out seem to be an afterthought at maximum.
A possible sticking level for an extension of Article 50 isn’t upcoming elections. It’s the requirement of unanimity amongst all EU states. Would the desired consensus be approaching if the realization is it could simply extend the present meaningless discussions? I doubt it.
What if the extension used to be required to permit preparation time for a recent referendum? This would indisputably pique the passion of the EU member states. Last week we noticed reports from Germany urging Britain to reconsider its stance. It’s additionally the result that may have Farage and different Brexiters very fearful.
The Independent has reported that UK electorate recently again closing within the EU through probably the most important margin observed because the 2016 referendum. A lead of 4 issues secured through the Leave marketing campaign has now shifted to a twelve level lead for stay. This quantities to 56 p.c of electorate now backing closing within the EU.
Speaking to the United Kingdom’s Sky News the day after the Leave rally, Nigel Farage hammered house his level as soon as once more.
“There could be another referendum. The remain side is well-funded and well-organized. They are getting ready for another referendum. It would be negligent of the Eurosceptics not to do so.”
A No Deal Outcome Would Be a Catastrophe
We’ve observed polls get it improper prior to now, however the present chaos seems to be to be heading in opposition to Britain requesting an extension of Article 50. With no extension and no settlement in position, a “no deal” consequence looms huge. Last week UK finance CEO Stephen Jones described such an consequence as a “catastrophe.”
Second Referendum ‘Would Be an Outrage’
When pressed through the BBC in some other interview if he would welcome a 2nd referendum his answer used to be unequivocal.
“A second referendum would be an outrage. We had a referendum. We were promised it was our decision, that it would be implemented.”
Farage endured that “now piece by piece, Brexit is being betrayed by the political class.” He’s bang at the cash when he says that those that voted to go away did so “for Britain to become an independent country.” Cutting thru the entire political doublespeak we’ve heard, that’s the one consistent working throughout the argument of those that need to depart the EU. Independence.
Nigel Farage believes we’ve now reached a degree the place the Government will forget about the need of the folk. Addressing the BBC, he claimed that “Brexit is what we voted for, and is what Parliament is set to deny us.”
With all of that stated, the truth is that we’re last in on resolution time. Little greater than two months stay sooner than the March 29 time limit.
An extension is having a look like the one real looking possibility. If and when that occurs, the higher hand lies with the EU. Their criminal staff is already clearing the way in which for an extension. The call for for some other vote in alternate for an extension is an actual risk.
With Prime Minister Theresa May reputedly caught between a rock and a troublesome position, is there any selection if the EU provides an ultimatum? Nigel Farage has been referred to as many stuff over time, however an fool isn’t considered one of them. He sees the typhoon at the horizon and is apparently readying himself and his fans.
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CoinDesk’s Crypto-Economic Data Is Now Accessible on GitHub
Nolan Bauerle is analysis director at CoinDesk.
For extra information and insights, talk over with the CoinDesk Crypto-Economics Explorer.
Starting these days, CoinDesk will use GitHub to assist crowdsource doable method adjustments and knowledge assets for our Crypto-Economics Explorer (CEX), our complete information device designed to measure and evaluate crypto belongings.
After we introduced the beta model of our device in November, the clearest important remark we heard used to be associated with our method for calculating developer pastime in a blockchain. More exactly, we heard comments at the resolution to just rely process on one GitHub code repository towards each and every blockchain’s “developer score.”
The critique used to be that the method in the back of the CEX used to be inadequate to measure developer pastime throughout each and every mission.
As an instance, bitcoin’s reference implementation is Bitcoin Core (which is the repository the CEX tracks). While that works wonderful for bitcoin, ethereum is applied via a number of shoppers, which contains the most important repository (Geth, which we observe), but additionally the independently advanced, interoperable, however similarly vital Parity consumer (whose repository isn’t these days tracked within the CEX), in addition to shoppers corresponding to cpp-ethereum and nonetheless others.
By counting bitcoin’s unmarried consumer, critics mentioned the CEX painted a extra correct image of developer pastime in bitcoin, however through counting just one consumer for ethereum, the explorer neglected out on probably the most developer pastime on that blockchain.
Our good judgment for the conservative means used to be that we would have liked to get the beta model of our device off the bottom with a lowest not unusual denominator — developer pastime in core protocols as applied of their most important consumer. Comparisons of extremely heterogeneous blockchains is a problem and we would have liked to have a forged basis sooner than we expanded information issues and method any longer.
The plan from there used to be, and is, to develop the checklist of code repositories we observe. Our ambition is to quickly observe GitHub process past the core protocol and consumer implementations the entire option to related tasks constructed off of that blockchain, together with wallets, dapps and layer-two answers like state channels and sidechains.
After we introduced and heard the criticisms, we got down to put in force our complete imaginative and prescient and make bigger the repos and process on GitHub we tracked. When we began, alternatively, we briefly discovered the complexity of this job. What we would have liked to do intended monitoring hundreds of tasks and repositories. What we wanted used to be an answer that might scale to the complexity and measurement of the business and that might seize developer pastime and process in a blockchain from “head to toe.”
Our resolution is now to head at once to developer communities, enabling the coders powering more than a few blockchains to supply their enter on our method in a environment that’s maximum apt given their paintings.
That is, Coindesk Data has now revealed the method and knowledge assets for the CEX’s developer pastime in GitHub itself.
There are a number of grasp recordsdata in our new repository to get the trouble introduced: one for the repos we these days observe, every other for the weights we give each and every information level, and in any case every other for the method of the way to combine related tasks at some point.
The function is to make use of GitHub’s workflow equipment to assist us scale this vital metric. Now, any individual could make a pull request for CoinDesk Data to practice a repository, to modify weights given to a undeniable information level or to assist tell any higher method alternate.
The hope is this discussion board will assist us harden the method, spark debate and scale our protection to each nook of GitHub associated with our business. We stay up for your persevered comments.
Image by the use of CoinDesk CEX
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Analyst: Bitcoin May Have Another 100 Days of Accumulation
For the past twenty days cryptocurrency markets have hold on to gains and formed new trading ranges. In terms of total market capitalization this is between $170 and $185 billion with Bitcoin holding above $5,000. More analysts, using previous chart patterns as a guide, are of the opinion that this consolidation could continue for several more months.Maybe Months of More AccumulationBy comparing the weekly chart from 2015 one crypto analyst has notice that we may be trading a very similar moving average formation at the moment. Looking specifically at the 50 week moving average there was an initial bounce off of that back in 2015, then a further 105 days of accumulation when Bitcoin pulled back again.Only when BTC retested the 50 MA and broke through it did the bull run start in full. This happened in October after the initial test in July. A similar scenario in 2019 may play out if Bitcoin does not break resistance at the 50 MA. Looking at the weekly charts on TradingView shows that it could test this level at the end of April.A bounce back from that could see BTC drop back into the low $4,000s and remain there until around August when it moves back up to the previous resistance level.$BTC #bitcoin Weekly 2015 VS. 2019 – see how we “may” be trading a similar pattern and moving average formation!See red arrows for previous patterns in 2015, versus 2019 on the last pic. Also, a possible trend reversal and Bull run in 105 days (approx, bro science calculation) pic.twitter.com/JN9EeBRUPU— @CryptoChartsJoe (Get Your Money Right) (@CryptoChartsJoe) April 21, 2019
This sentiment has been echoed by a number of chart analysts who have predicted a breakdown at the end of the current rising wedge on the four hour chart. GalaxyBTC, a popular trader on twitter, has called for a correction back to $4,600 before any further moves higher;Based on this daily fractal we should get another chance to buy $BTC at $4600-$4800 levels before the next run to $6800.Similarities in both candles and volume. pic.twitter.com/IGivErxz5Q— Galaxy (@galaxyBTC) April 20, 2019
Bitcoin and Altcoins At ResistanceAll crypto assets (aside from Binance Coin) seem to be hitting heavy resistance right now. Markets are currently in the red as Bitcoin pulls back from weekly highs at $5,350. Using altcoin market capitalization the ‘CryptoDog’ has noticed a retracement in most of the altcoins while Bitcoin holds just below the major resistance point at $5,400;$ALTS at resistance, $BTC at resistance pic.twitter.com/ylFHojEpph— The Crypto Dog📈 (@TheCryptoDog) April 20, 2019
At the time of writing crypto markets had dropped over 2 percent on the day which equated to $4 billion. Most of this has been lost by altcoins as Bitcoin has remained at its current level, increasing market dominance to almost 53 percent. This is the highest it has been for several months.On the week markets are back at the same level which is around $177 billion in market cap. The next week will be critical for further upsides but all indicators now are suggesting a larger pull back before any real trend reversal can be measured.Bitcoin volatility is at a two year low and slow and steady accumulation seems to be driving market movements at the moment. This could well continue for the next three months or so if charts mirror markets in previous years.Image from Shutterstock
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