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Take a look behind the credit-score numbers game

February 17, 2019 |

Dear Liz: I recently got an email from my credit card issuer stating my credit score had just dropped 21 points. Having a good credit score and not aware of any recent adverse actions, my first reaction was alarm.

Checking with the issuer online, I saw only advertisements for “protect your credit”…


L.A. Times – Business

Judge Jeanine Pirro: Think socialism can never happen here? Just look at the left and the last 10 days

February 10, 2019 |

We are reaching a turning point that will forever determine our future — how we live our lives and how our children will live theirs. The gap between the ever-widening left and right has never been wider, and yet amazingly it continues to widen. 
FOX News

Anarchism: A Look at the Different Schools of Anarchic Thought

February 10, 2019 |

Anarchism: A Look at the Different Schools of Anarchic Thought

In mainstream culture, anarchy is often a dirty word, deployed as a pejorative to describe failed states or an insult by conservative news anchors to describe what could happen if a semi-radical government took charge. The reality is very different. Anarchy runs much deeper and actually goes hand in hand with bitcoin and the quest for a decentralized financial system. 

Also Read: Bitcoin was Built to Incite Peaceful Anarchy 

What Is Anarchy?

Bitcoin and other cryptocurrencies are well aligned with anarchy. Anarchy is, after all, a system which rejects state control and hierarchy. No matter how much Bitcoin is adopted by the mainstream, purists will always contend that the digital asset was created to undermine authority and to remove state control so people could ultimately gain their financial freedom.

Anarchism: A Look at the Different Schools of Anarchic Thought

There are many types of anarchic schools of thought but they all have overarching theme: to do away with the state and its authority. Despite the unified principle of no government, different strands of anarchy extol very different ideas on how a society should run, with philosophies incorporating everything from egalitarianism to free market economics.

Why Bitcoin and Anarchy Go Hand in Hand

Bitcoin can be thought of as an enabler for anarchic liberation. Governments have fiscally failed time and time again throughout history and punished their citizens by mismanaging the economy. By holding monopolies on minting coins, managing central banks that serve the needs of the few, and writing laws telling people what money they should use and how to use it, they have wielded ultimate control over the people. Bitcoin, which was created to avoid third parties such as banks, has the potential to end governmental control of money once and for all. Its very essence, the blockchain, works without a central authority. That is why Bitcoin can work with anarchy: if people have the power to be their own banks, and have economic freedom, then they can proceed to claim their freedom from governments in other domains, too. Here are some of the main schools of anarchic thought.

Anarcho-Capitalism

Often associated with the crypto community, anarcho-capitalism is a school of thought that believes a free market should take the place of the government and serve as the basis for a free and prosperous society. In this case, property rights would rule and things often provided by the state, such as prisons, courts, police or schools, would be taken care of by private companies competing in an open market. Anarcho-capitalists also believe that voluntary actions and charity are what is needed for a functioning and healthy state. Anarcho-capitalists see free market capitalism as the basis for a free and prosperous society.

Anarchism: A Look at the Different Schools of Anarchic Thought

Anarcho-capitalism draws from the Austrian School of Economics and anti-state libertarianism. Like other schools of anarchic thought, anarcho-capitalists argue that governments are inherently bad because they force people to pay taxes, force people to join the military, start wars or impose other restrictions and rules on people.

Crypto-Anarchism

Crypto-anarchism is a form of anarchy that goes hand-in-hand with Bitcoin. The essence of this school of thought holds that through the use of cryptographic software to avoid persecution, people can cultivate financial sovereignty, political freedom and privacy to overthrow the state. Born out of the cypherpunk movement of the 1980s, crypto-anarchism is opposed to state surveillance and argues that the use of cryptography is the main defense against such problems, an idea Julian Assange  – perhaps the most well-known cypherpunk activist – has espoused.

Anarchism: A Look at the Different Schools of Anarchic Thought

Cypherpunk Timothy C. May, who published the Crypto-Anarchist Manifesto in 1988, said that the ability to communicate anonymously online would eventually lead to big changes in societies and governments.

“These developments will alter completely the nature of government regulation, the ability to tax and control economic interactions, the ability to keep information secret, and will even alter the nature of trust and reputation.”

After the arrival of Bitcoin in 2009, it seemed like May’s prediction was right and many crypto-anarchists had got what they were waiting for: a way to exchange payments in a way that was pseudonymous beyond the reach of governments.

Anarcho-Communism

Anarcho-communism argues that the state should be abolished and capitalism be replaced with common ownership or control of the means of production. Through a revolution, collective control can be established and people can be free from governmental domination and economic exploitation. This school of thought argues that social hierarchy and class distinctions come from unequal wealth distributions and should therefore be abolished, as well as private property and money. Society would control production and systems of production and distribution would be managed by their participants.

Anarchism: A Look at the Different Schools of Anarchic Thought

As with the typical communist school ideology, anarcho-communists argue that a revolution would be what leads society to abolish the state and take control of the means of production.

Anarcho-Syndicalism

Another type of anarchism on the left of the political spectrum, anarcho-syndicalism aims to create an industrial workers’ union movement which is rooted in anarchic ideas. Such anarchists argue that workers should group together through unions and then take control by overthrowing the state. This school of thought advocates people having control over the means of production by operating co-ops so workers can run their own workplaces.

Anarcho-syndicalists say that organization on a voluntary basis is what is needed to operate the means of production and public services and superior authorities and their taxes, armies, police or bureaucracies have no place in society. Ultimately, direct action – that is, action carried out by workers as opposed to indirect action, such as electing a representative to a government position – would allow workers to liberate themselves.

What do you think of the different schools of anarchic thought? Would any of them work? Let us know in the comments section below.


Images courtesy of Shutterstock.


Need to calculate your bitcoin holdings? Check our tools section.

The post Anarchism: A Look at the Different Schools of Anarchic Thought appeared first on Bitcoin News.

Bitcoin News

Groundhog Day festivities and a look at Punxsutawney Phil’s accuracy

February 1, 2019 |

Phil may be the most famous groundhog in the U.S., but is he the most accurate?
FOX News

A Look at Openbazaar’s Multi-Currency Wallet and Vendor Listings

January 30, 2019 |

A Look at Openbazaar's Multi-Currency Wallet and Vendor Listings

On Jan. 17, the blockchain and cryptocurrency company OB1 released Openbazaar version 2.3 which provides users with the ability to use a multi-currency wallet within the marketplace. Since then, there’s been a large number of added listings and an increased amount of people trading cryptocurrencies in a peer-to-peer fashion.

Also read: Inspired by Unwriter’s Apps, BCH Developers Create Fountainhead Cash

Experimenting With Openbazaar Version 2.3 and the New Multi-Currency Wallet

With Openbazaar 2.3 now out, I decided to explore the recently added features to give readers of news.Bitcoin.com an insight into the platform. The Openbazaar marketplace has been out for a while now and OB1 released a 2.0 version last year. The latest protocol version 2.3 gives users a multi-currency wallet allowing them to store, send, and receive bitcoin cash (BCH), bitcoin core (BTC), litecoin (LTC), and zcash (ZEC). Before, Openbazaar users were once restricted to choosing a single currency to operate with on the platform.

A Look at Openbazaar's Multi-Currency Wallet and Vendor Listings
The Openbazaar download page offers three operating system choices.

In order to experiment with the new version, I downloaded the 2.3.0 release for Mac OSX, but the application can be used on a Windows and Linux operating systems as well. I backed up my existing Openbazaar app and then opened the .dmg file I downloaded from the official landing page. After giving my computer permission to run the new file, Openbazaar opened as it usually does and I was greeted by my home page.

A Look at Openbazaar's Multi-Currency Wallet and Vendor Listings
The multi-currency wallet supports four cryptocurrencies and OB1 developers say ethereum (ETH) will be added next.

The differences you will see from the prior version are in the wallet section, which reveals a BTC, BCH, LTC, and ZEC multi-currency wallet. Each wallet does basic operations like sending and receiving and there’s also a log for recorded transactions. The wallets also tell you the value of your cryptocurrency holdings using a local fiat currency. Inside the wallet section is a tab that allows users to create a cryptocurrency trade listing, which means they can swap cryptos in a peer-to-peer fashion.

After clicking the “view listings” tab it is noticeable that users are trading a bunch more coins than when I visited the platform during my last Openbazaar review. There are so many more listings now when you select trades for all four cryptocurrencies. Some trades I noticed were quite fair, set at only 2-5 percent above spot value, but there are other trades that were 995 percent above market value. Still, there are plenty of traders and listings available with a large variety of the 1,500 available digital assets enabled on the marketplace.

A Look at Openbazaar's Multi-Currency Wallet and Vendor Listings
Since our last review, there has been a significant increase in traders buying and selling cryptocurrencies in a peer-to-peer fashion.

Many of the traders are rated and you can view some of their other listings as well to see if they are reliable. If people are in search for a place to trade cryptocurrencies without revealing their identity and going through the hoops of a KYC process, then Openbazaar might entice them. Moreover, if desired, they can run an Openbazaar node using the privacy-centric Tor software.

A Look at Openbazaar's Multi-Currency Wallet and Vendor Listings
Connecting to a trader in order to swap BCH for XMR.

In order to make a trade, simply choose the kind of cryptocurrency you are interested in swapping. For instance, if you chose to trade BCH for monero (XMR), you will find the vendor W.H. Lewis who is charging 3 percent above spot rates for this trade. All of Openbazaar’s trade listings can be filtered by cryptocurrency. A trader will sometimes list how much they have in inventory and in this case Lewis’s XMR inventory says “unknown.” However, this particular vendor allows the trade to be moderated by a verified Openbazaar moderator. Purchasing and selling digital assets is not much different to checking out your items after choosing to buy physical goods. Traders have different rules on how they settle the crypto trade on Openbazaar and these will vary between vendors, especially with premiums and settlement times. Most trade guidelines are clearly stated on the trader’s listing page.

A Look at Openbazaar's Multi-Currency Wallet and Vendor Listings
Traders explain how to execute exchanges with them and some offer a verified Openbazaar moderator to oversee the deal.

Marketplace Listings Increase

Moving on to the marketplace section where users sell other types of goods and services there’s been a noticeable influx of vendors selling wares. Four days ago the r/btc community noticed this trend when BCH listings spiked from 1,000 to 5,200. Another notable sight I saw on the marketplace was how litecoin listings had around 4,800 on the OB1 browser. Zcash listings hover at around 4,600 listings at the time of publication. BTC listings total 11,400 but while surfing through the listings on the marketplace, it clearly shows that many vendors have decided not to take the ‘maximalist’ route and have chosen to accept multiple cryptocurrencies since the upgrade.

A Look at Openbazaar's Multi-Currency Wallet and Vendor Listings
Over the last week, BCH listings have spiked from 1,000 to 5,200. Listings include comics, music, books, clothing, art, and more.

Openbazaar 2.3 definitely adds more variety to the platform and the number of listings added since the release on Jan. 17 shows vendors like the fact they can accept more cryptos. The trading section could still use a lot more liquidity than what is offered at the moment. The platform may suffice for a person who wants to obtain some crypto in an anonymous manner, but won’t be good enough for someone looking for deep pools of liquidity. Still, there’s been a significant spike since the startup added all four cryptocurrencies, and OB1 says ethereum support is near completion and will be added soon, alongside other coins.

A Look at Openbazaar's Multi-Currency Wallet and Vendor Listings
It seems many Openbazaar vendors have simply opted to accept all four cryptocurrencies since the wallet upgrade on Jan. 17, 2019. 

Overall, the platform continues to improve and its user base and a number of product listings have increased a great deal. It still needs to gain mainstream traction, which might not happen until cryptocurrencies themselves gain mass adoption. Until then, Openbazaar’s marketplace has seen slow and steady growth and the multi-currency wallet has opened the platform to more people.

What do you think about the new Openbazaar version 2.3 with the multi-currency wallet? Let us know what you think about this subject in the comments section below.

Disclaimer: This editorial should be considered Review or Op-ed material. During the review process, the opinions expressed in this article are the author’s own. Bitcoin.com does not endorse nor support views, opinions or conclusions drawn in this post. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the review article. Review editorials are intended for informational purposes only. Readers should do their own due diligence before taking any actions related to the mentioned company or any of its affiliates or services. There are various steps mentioned in reviews and some of them are considered optional. Bitcoin.com and the author are not responsible for any losses, mistakes, skipped steps or security measures not taken, as the ultimate decision-making process to do any of these things is solely the reader’s responsibility.


Image credits: Shutterstock, Openbazaar, and Jamie Redman. 


Want to create your own secure cold storage paper wallet? Check our tools section.

The post A Look at Openbazaar’s Multi-Currency Wallet and Vendor Listings appeared first on Bitcoin News.

Bitcoin News

An In-Depth Look at the Trezor Model T Hardware Wallet

January 26, 2019 |

An In-Depth Look at the Trezor Model T Hardware Wallet

Cryptocurrency hardware wallets have become a mainstay within the digital asset economy and over the years these devices have evolved. After designing the first bitcoin hardware wallet on the market, the Prague-based firm Satoshilabs has released a new Trezor product line called the Model T. The following hands-on review details how to get started with the Trezor T cryptocurrency wallet and outlines its primary features.

Also read: A Review of the Swiss-Made Digital Bitbox Hardware Wallet

Testing the Touchscreen Trezor Model T

This week I received a Trezor Model T in the mail and decided to provide a rundown of how to set up the hardware wallet. In this review I also note the differences between the new version and the Trezor One. The box is very well packaged compared to the Trezor One I purchased years ago and comes with various accesories. Inside the box, there’s a Trezor T device, a USB-C cord, two recovery seed cards, a magnetic holder for the device, and a bunch of stickers. The machine itself features a RGB LCD touchscreen display and USB communications are enabled only after authentication. The directions inside the box explain that the owner needs to go to the Trezor website to initiate the wallet.

An In-Depth Look at the Trezor Model T Hardware Wallet
Everything the Trezor Model T comes with and the magnetic wall mount.

One thing that is noticeable is the amount of pressure needed to insert the USB-C cable. At first, I had issues initiating the firmware because my computer couldn’t recognize the Trezor through the cable. All shipped Trezors come empty and never have firmware installed for security reasons. However, I learned from the folks at Satoshilabs that you need to push the connector in hard enough until you hear it click. After choosing the T version on the website, it takes you to the beta Trezor browser wallet to initiate the device firmware. The setup can be initialized using the main Trezor wallet instead if you don’t want to use the beta version. The T only took two minutes for the firmware to install and from here I was able to begin the wallet setup and backup process.

An In-Depth Look at the Trezor Model T Hardware Wallet
Initiating the firmware, creating a new wallet, and backing up the seed.

Backing up the Seed, Adding a PIN and Naming the Wallet

The device screen will warn the user that a backup has not been completed and the wallet browser will initiate the start of this process. From here, after the usual disclaimer about no screenshots and writing the seed down alone, the device screen will reveal a 12-word mnemonic seed phrase. After writing the words down on the seed card supplied in the box, I was prompted to confirm some of the words randomly in order to verify that the seed was written down correctly. Once the device confirms that the owner has written down the phrase, the setup moves on to adding a PIN to the device and a name. Each action needs to be confirmed using the device’s touchscreen. While pondering a name I decided to name my gadget ‘Satoshi’s Trezor’ because, after all, we are all Satoshi. Moving on, the browser wallet asks if you want to add an email and I opted to skip that step.

An In-Depth Look at the Trezor Model T Hardware Wallet
Setting a PIN and naming the device.

After the wallet was all set up, I sent a small fraction of bitcoin cash (BCH) to the wallet to make sure everything was working correctly. The Trezor T also supports BTC, BTG, DASH, DGB, DOGE, LTC, NMC, VTC, ZEC, ETH, ETC, XLM, XEM, and ADA. Some of the cryptocurrency wallets like ETH, ADA, and XLM take you to a third party wallet which essentially tethers the account to your device. Just like the Trezor One, the Model T can also act as a U2F device for online accounts like Dropbox and Gmail. Additionally, Satoshilabs has added an exchange feature which lets the hardware wallet interact with a third party trading platform so the user can swap coins without leaving the secure confines of the Trezor software.

An In-Depth Look at the Trezor Model T Hardware Wallet
The Trezor dashboard and all the steps involved with creating a seed backup.

A Model One Evolved

Overall, the Model T worked well but it took me some time getting used to the USB-C cord insertion, even though I use USB-C hardware regularly. The Keepkey cryptocurrency hardware wallet I recently reviewed also has a noticeably tougher USB insert. After getting used to the plug, it became much easier, but you may want to use a longer cord. The LCD touchscreen display is nice but was not so friendly with my fat fingers. The touchscreen takes some time to get used to as well and the screen is used for the wallet’s PIN entry, instead of the onscreen randomizer PIN pad used with the Trezor One.

An In-Depth Look at the Trezor Model T Hardware Wallet
Sending 15 cents’ worth of bitcoin cash (BCH) to test the wallet.

The device works just as well as my first Trezor wallet, but users will find subtle differences between each one. For example, the Model T comes with a micro-SD slot for advanced features that will be added to the operating system at a later date. Even with the T’s touchscreen, prospective buyers may still decide to purchase version One because it’s significantly cheaper than the Model T and just as secure. The T version is roughly $ 169, but that doesn’t include DHL shipping costs. One thing for certain is that I will continue to use the Model T hardware wallet, unlike some of the devices by other manufacturers I’ve previously reviewed that are now collecting dust.

What do you think about the Trezor Model T? Let us know what you think about this hardware wallet in the comments section below.

Disclaimer: This editorial should be considered Review or Op-ed material. The opinions expressed in this article are the author’s own. Bitcoin.com does not endorse nor support views, opinions or conclusions drawn in this post. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the review article. Review editorials are intended for informational purposes only. There are multiple security risks and methods that are ultimately made by the decisions of the user. There are various steps mentioned in reviews and guides and some of them are considered optional. Neither Bitcoin.com nor the author is responsible for any losses, mistakes, skipped steps or security measures not taken, as the ultimate decision-making process to do any of these things is solely the reader’s responsibility. For good measure always cross-reference guides with other walkthroughs found online.


Image credits: Jamie Redman, Trezor, and Satoshilabs. 


Have you seen our new widget service? It allows anyone to embed informative Bitcoin.com widgets on their website. They’re pretty cool, and you can customize by size and color. The widgets include price-only, price and graph, price and news, and forum threads. There’s also a widget dedicated to our mining pool, displaying our hash power.

The post An In-Depth Look at the Trezor Model T Hardware Wallet appeared first on Bitcoin News.

Bitcoin News

Kidnap Victim Was Found With ‘Horrified Look on Her Face’

January 24, 2019 |

Victor Pena, the Boston man accused of kidnapping Olivia Ambrose and holding her against her will for several days, was ordered to undergo a 20-day mental health evaluation at a state mental hospital after behaving strangely during a court appearance Wednesday. A court clinician who carried out a preliminary evaluation…
Newser

A Look at Some of the ‘Next Generation’ Mining Rigs Available Today

January 12, 2019 |

A Look at Some of the 'Next Generation' Mining Rigs Available Today

Over the last year, cryptocurrencies have lost a lot of value yet bitcoin miners continue to process transactions and earn block rewards. A bunch of new mining rigs were announced in 2018 that packed some serious hashrate. As the new year begins, some of the top devices that process between 28-76 trillion hashes per second (TH/s) can be now be purchased from ASIC manufacturers and third party vendors.

Also Read: Nick Szabo: Central Banks May Turn to Cryptocurrency Reserves Over Gold

The Top SHA-256 Mining Rigs of 2019

A Look at Some of the ‘Next Generation’ Mining Rigs Available TodayLast year there was a ton of new mining rig announcements. Many of the new devices announced claimed to have next generation 10 nanometer (nm) and 7nm semiconductors produced by famous chip foundries like Samsung and the Taiwan Semiconductor Manufacturing Company (TSMC). Other machines purported to offer more efficiency, quieter sound, and some of the mining rigs offered a water cooling system as well. Some new releases didn’t fare so well, like when the Japanese manufacturer GMO Group announced it “will no longer develop, manufacture, and sell mining machines.” Then there was the controversial Halong Mining, a startup that was supposed to be the new up and coming manufacturer in the crypto industry. The firm was accused of rebranding Innosilicon miners and the company’s website says people who want new machines need to subscribe to a waiting list.

A Look at Some of the ‘Next Generation’ Mining Rigs Available Today
The Antminer Hydro uses a water cooling system. Other mining machines like the 8 Nano have also employed water solutions.

Then, towards the end of the year, a slew of other mining manufacturers, some of which have been reputable companies for years, announced new machines as well. Now that some of the next generation devices are available to the general public, through either the manufacturer or a trusted vendor, these machines will likely boost the network hashrate significantly. What follows is a preview of the top four mining machines that process large amounts of raw terahash and can be purchased today.

Ebang Ebit E11++

A Look at Some of the 'Next Generation' Mining Rigs Available Today Last September news.Bitcoin.com reported on the China-based Ebang Communication announcing its Ebit Miner E-11 series that claimed to boast hashrate speeds between 30-44 trillion hashes per second (TH/s). Right now according to data from Asicminervalue.com, the E11++ miner is the most profitable SHA-256 miner (BCH & BTC) on the market, pulling in $ 1.12 per day with current bitcoin prices. When the new series was announced last year, the rigs were not available to the general public at the time but the devices can be purchased today directly from the manufacturer.

A Look at Some of the 'Next Generation' Mining Rigs Available Today

The E11++ miner is $ 2,024 and the next batch of E11 series units will be delivered by March 2019. The machines boast a DW1228 10nm chip with an ideal hashrate of around 44 TH/s. Moreover, both the E11+ and the E11++ machines’ electrical consumption pull about 1980-2035W from the wall. So far the miner has consistently been the top machine in the world as far as earning daily profits since it was announced, but that may not be the case in March. The company’s two lower tier machines that process 30-37 TH/s are currently sold out.

Asicminer 8 Nano

A Look at Some of the 'Next Generation' Mining Rigs Available Today The Asicminer 8 Nano is another rig that mines the SHA-256 algorithm at 44 trillion hashes per second. However, the difference between the 8nm equipped miner and Ebang’s E11++ is that the latter consumes about 2100W of power. Because of this difference, the Asicminer 8 Nano processes 44 TH/s but currently takes in around $ 0.75 per day in profit. The Asicminer company claims the machine boasts 189 8nm custom AM0813 chips and processes roughly “16384 hash cores on a single die.”

A Look at Some of the 'Next Generation' Mining Rigs Available Today

The 8 Nano is cheaper than the Ebang device, at $ 1,790 per unit, but is way bigger than the average machine manufactured today. The 8 Nano weighs about 60 pounds and measures approximately 500 x 500 x 235mm in size. The machine’s fans also radiate a neon red glow and the device features a noiseless water cooling system. Customers can purchase machines today and the website states there are only 48 machines left at present. Because the miner was released last October, units have shipped to some customers and there are various 8 Nano reviews on Youtube and other forums.  

Innosilicon Terminator 3 (T3)

A Look at Some of the 'Next Generation' Mining Rigs Available Today Innosilicon has done well over the last year with its mining rigs powered by Samsung’s low power 10nm semiconductor technology. The Terminator 3 model, otherwise known as the T3, can be purchased as well and the first batch of shipments should be delivered by the end of January. The T3 specifications say the machine will mine at 43 TH/s with a power consumption of 2100W, giving the machine a profit of around $ 0.58 a day at current prices.

A Look at Some of the 'Next Generation' Mining Rigs Available Today

The T3 is more expensive than the 8 Nano and the E11++ as it is currently selling for $ 2,279 per unit. The first batch of T3s are limited, the company’s website explains, and the limited second batch won’t be delivered until March. Delivery times are “first pay, first served,” Innosilicon emphasizes and all products are also “Asic Boost enabled with a proper license.”

Bitmain Antminer S15

A Look at Some of the 'Next Generation' Mining Rigs Available Today The latest Bitmain Antminer product offers customers a maximum hashrate of 28 TH/s with a power consumption of 1596W. The S15 costs $ 1,249 per unit and the first batch of rigs are shipping between Jan. 11-20. The miner features two types of mining modes and is equipped with Bitmain’s custom 7nm chip. Like the Asicminer 8 Nano, the S15 doesn’t look like the average miner as it employs a parallel fan design to improve heat dissipation efficiency.

A Look at Some of the 'Next Generation' Mining Rigs Available Today

Currently, according to data stemming from Asicminervalue.com, with current BTC and BCH prices, the S15 is profiting by $ 0.15 per day. Bitmain is also selling a lower tier S15 that produces 1 terahash less at 27 TH/s and will save the customer $ 45 in comparison to the 28 TH/s model. Bitmain says that customers utilizing the S15’s next generation 7nm chips and custom semiconductor packaging technology coupled with the new heat dissipation mechanism miners will save on electricity costs.

Asicminer 8 Nano Pro

A Look at Some of the 'Next Generation' Mining Rigs Available Today The Asicminer manufacturer also has a machine called the 8 Nano Pro that claims to produce a whopping 76 trillion hashes per second. The mega-device pulls roughly 4000W from the wall and costs $ 11,600 per unit. Furthermore, customers must buy a minimum of five units per order. Still, at current bitcoin prices, the Asicminer units with 8nm custom AM0813 chips still scrapes by with $ 0.13 per day in profit. Again, like the company’s previous model, the 76 TH/s machine is huge at 500 x 1000 x 240mm and weighs about 150 pounds. The 8 Nano Pro also has a noiseless water cooling system, which has a noise level of about 48 decibels. However, unlike the firm’s 44 TH/s machine, the 76 MH/s Pro version doesn’t seem like it has done well as there are no resellers online or reviews on this specific device.

Bitcoin Mining Facilities Hurting for Profits May Try to Leverage Next-Generation Machines

So far, both the BTC and BCH networks which utilize the SHA-256 algorithm have seen significant drops in overall hashrate. The current Bitcoin Core (BTC) network hashrate is roughly 40 exahash per second (EH/s), while Bitcoin Cash (BCH) miners have around 1.5 EH/s today. Moreover, many of the older machines that produce far fewer hashes per second are in the red these days and are seeing significant daily losses at current market prices. Even the Ebang, Bitmain, and Innosilicon lower tier models that have been recently announced in the last three months are not profiting at all due to the depressed prices across crypto markets. New mining machines might give large facilities and even smaller miners enough edge to stay in the game, though, if they can get these products on time. 

What do you think about the top mining rigs in 2019? Let us know what you think about this subject in the comments section below.   

Disclaimer: Bitcoin.com does not endorse these mining products or services. Readers should do their own due diligence before taking any actions related to the mentioned mining company or any of its affiliates or services. Bitcoin.com and the author are not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. This editorial is for informational purposes only.


Images via Shutterstock, Ebang, Asicminer, Innosilicon, and Bitmain.


Need to calculate your bitcoin holdings? Check our tools section. 

The post A Look at Some of the ‘Next Generation’ Mining Rigs Available Today appeared first on Bitcoin News.

Bitcoin News

Scientists Want to Look for Large Objects Lurking in June Meteor Shower

December 27, 2018 |

Meteor showers called Taurids occur twice each year: in June and in late October or early November. The latter event occurs at night, resulting in visible shooting stars. The June shower (in which the meteors are called Beta Taurids) happens during the day. And, while it may not make for…
Newser

China Works to Look Open to Foreign Business as G-20 Summit Nears

December 26, 2018 |

In its latest move in recent weeks to show it’s a friend of foreign businesses, China paved the way for German insurer Allianz SE to establish the country’s first wholly foreign-owned insurance holding company.
WSJ.com: US Business