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  "op": [
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    {
      "from": "blurtofficial",
      "to": "ecos.eng",
      "amount": "0.001 STEEM",
      "memo": "CONGRATS! You have a 1:1 BLURT AIRDROP of 7.317 BLURT and 3.323000 BLURT POWER waiting for you. Check out https://blurtwallet.com/@ecos.eng and https://blurt.blog/ TODAY!"
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  "op": [
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    {
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      "amount": "0.012 STEEM",
      "memo": "Dear @ecos.eng, I had quite a long break from publishing my own articles since I've focused my efforts on building Project.hope community and watching it grow. Today however, I would like to share with you link to my recent publication and I surely hope to read your feedback. All valuable comments will be rewarded with solid upvote. Cheers, Piotr // LINK: https://steemit.com/hive-175254/@crypto.piotr/is-crypto-space-is-mature-enough-for-another-bull-run-i-have-my-concerns"
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{
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    {
      "parent_author": "",
      "parent_permlink": "bitcoin",
      "author": "ecos.eng",
      "permlink": "3zkdlh-top-5-questions-about-bitcoin",
      "title": "Top 5 questions about Bitcoin!",
      "body": "![FB_Лонгрид_25,09.png](https://cdn.steemitimages.com/DQmextpP3SuywU471PVGCxLUsfktDQhLPG8Zhve9rnkE7ok/FB_%D0%9B%D0%BE%D0%BD%D0%B3%D1%80%D0%B8%D0%B4_25,09.png)\n\n- What is fiat money?\n\nFiat money is government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it. The value of fiat money is derived from the relationship between supply and demand and the stability of the issuing government. Most modern paper currencies are fiat currencies, including the U.S. dollar, the euro, and other major global currencies\n\n- How many cryptocurrencies exist?\n\nIt is impossible to name the exact number of existing cryptocurrencies, because the cryptocurrency code is open and everyone has the opportunity to create their own version of the coin. At the moment, the estimated number of cryptocurrencies on the market is about 900.\n\n- What was the first cryptocurrency?\n\nThe first cryptocurrency that was recorded in the digital data was bitcoin, created in the late 2009 and still as of now the best cryptocurrency known in the marketplace. \n\n- Why should I get involved in cryptocurrency?\n\nThe answer is simple because most people find it beneficial. Everyone has the opportunity to mine coins or just invest in them. The expanding ecosystem provides many opportunities to multiply your capital. By investing only $100 in cryptocurrencies, one could earn up to $10,000. And now this opportunity is still available.\n\nFor example, thanks to ECOS cloud mining! Invest in bitcoin right now:\n\n[https://mining.ecos.am/](https://mining.ecos.am/",
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  "op": [
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      "parent_author": "",
      "parent_permlink": "bitcoin",
      "author": "ecos.eng",
      "permlink": "top-5-questions-about-bitcoin-week-37",
      "title": "Top 5 questions about Bitcoin. Week 37.",
      "body": "![FB_Лонгрид_11,09.png](https://cdn.steemitimages.com/DQmcp8Wnj2VqFk7NCvR1YWkZmnRZHDDz7LCEUdqwjaxpR6u/FB_%D0%9B%D0%BE%D0%BD%D0%B3%D1%80%D0%B8%D0%B4_11,09.png)\n\n🔘 How to get free bitcoin?\n\nAll you need is a computer and an internet connection. And then you can use cryptocurrency faucets.\nCryptocurrency faucets are sites that give out coins for performing relatively simple actions, for example, for entering a captcha, writing a comment, clicking on a link. But you still have to spend time on this and you will receive a small number of bitcoins as a reward.\n\n🔘 How long does it take to mine a bitcoin?\n\nDetermining the exact time it takes to successfully mine 1 Bitcoin is very difficult since this value depends on:\nThe type of device ASIC, GPU or CPU\nThe model and its Hashrate\nThe number of devices you’ll own\nOn average, the time it takes for all the miner’s computational power in the world to obtain 1 BTC is 10 minutes.\n\n🔘 How to trade bitcoin?\n\nThere are two ways to deal bitcoin: buy the cryptocurrency itself in the hope of selling it on at a profit, or speculate on its value without ever owning the token. The latter is how CFDs work.\nA CFD enables you to trade a contract based on prices in the underlying market. It is a leveraged product, meaning you can put down a small initial deposit and still gain the exposure of a much larger position. This can magnify your profits, though it can have the same effect on your losses.\n\n🔘 How long does a bitcoin transaction take?\n\nHowever long it takes to transfer Bitcoin between wallets varies from transaction to transaction. When you make a Bitcoin transaction, it needs to be approved by the network before it can be completed. The Bitcoin community has set a standard of 6 confirmations that a transfer needs before you can consider it complete. The two main factors influencing the transaction time are:\n\nThe amount of network activity\nTransaction fees\n\n🔘 How to mine bitcoin at home?\n\nGetting a cloud-mining contract:\nDecide which cloud-mining service provider to use\nPick a cloud mining contract package\nWithdraw your earnings to your secure wallet\nUsing your own hardware:\nUse an online mining calculator to calculate mining profitability\nBuy ASIC miners and a power supply for your mining rig\nConnect your miner and boot it up\nDownload Bitcoin mining software to a networked computer\nJoin a mining pool\nConfigure your miner to work in your mining pool\nTransfer any Bitcoin you mine to your secure wallet.\n\nSounds like cloud mining is much easier than home mining? Quite right. ECOS cloud mining is always ready to help you make money on cryptocurrency!3r",
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  "timestamp": "2020-09-04T21:07:12",
  "op": [
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      "parent_author": "",
      "parent_permlink": "bitcoin",
      "author": "ecos.eng",
      "permlink": "top-5-questions-about-bitcoin-week-36",
      "title": "Top 5 questions about bitcoin. Week 36.",
      "body": "![FB_Лонгрид_4,09.png](https://cdn.steemitimages.com/DQmS6JHyAzBxcLhZmvqSJv18v6BjyN9XqQrV5nhrWUpYfxJ/FB_%D0%9B%D0%BE%D0%BD%D0%B3%D1%80%D0%B8%D0%B4_4,09.png)\n\n🔘 When did bitcoin start?\n\nBitcoin was invented in 2008 and released as open-source software in early 2009.2 The first transaction took place between Nakamoto and an early adopter of bitcoin in January 2009. The first real-world transaction happened in 2010 when a bitcoin miner bought two pizzas from a Papa John's in Florida for 10,000 bitcoins.\n\n🔘 Who created bitcoin?\n\nBitcoin was created by Satoshi Nakamoto, (almost certainly) a pseudonym, that no one has been able to conclusively connect to an actual person or group of people to this day. Nakamoto vanished from the internet in 2011, leaving few clues as to who they might be. Over the years, many people have publicly claimed to be Satoshi, all failing to support the statement with indisputable facts.\n\n🔘 What is bitcoin worth?\n\nAt the risk of stating the obvious, a bitcoin is worth whatever someone will pay for it. If we narrow the question down a bit to “how many dollars can I get by selling a bitcoin?”, then you can always find the current cryptocurrency rate on our website in the lower right corner.\n\n🔘 What can you buy with bitcoin?\n\nNowadays, you can buy a lot with bitcoin. We have highlighted the most popular areas and their main representatives:\nCharity (WikiLeaks, Wikipedia)\neCommerce (Amazon, Etsy, Shopify)\nElectronics (AT&T, NewEgg)\nFood (Burger King, KFC, Subway)\nGames (Minecraft, PlayStation, Xbox)\nWeb Services (Twitch, WordPress)\nHolidays (Norwegian Air, Webjet)\n\n🔘 Why is bitcoin going up?\n\nAs we mentioned earlier, the value of bitcoin largely depends on the number of people willing to buy and sell it. This is how the market economy works. And given the popularity of bitcoin as a financial asset, the number of buyers is constantly growing. The more people learn about it, the more they buy. This is the main reason for the growth of cryptocurrency. People believe in bitcoin.",
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  "timestamp": "2020-08-24T16:48:09",
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      "parent_author": "",
      "parent_permlink": "bitcoin",
      "author": "ecos.eng",
      "permlink": "top-5-questions-about-bitcoin",
      "title": "Top 5 questions about bitcoin",
      "body": "![FB_Лонгрид_22,08.jpg](https://cdn.steemitimages.com/DQmWW3m3Pk3marLhrhTseaneUU21LoCukpZ6YbcLqEP2yjD/FB_%D0%9B%D0%BE%D0%BD%D0%B3%D1%80%D0%B8%D0%B4_22,08.jpg)\n\n🔘 How to get a bitcoin wallet?\n\nA Bitcoin wallet is an application or program that allows you to store, send and receive bitcoins. Wallets also keep track of your balance, which is stored in one or more bitcoin addresses. Wallets also keep track of your transactions. There is a huge selection of wallets on the market now, so you just need to choose the most suitable one for you, register and start using in accordance with the instructions of the platform.\n\n🔘 How to buy bitcoin?\n\nTo buy bitcoin, you need to do 5 simple steps:\n\nChoose an exchange (we recommend comparing the most popular ones) and go to its website\nChoose for which currency and how you want to buy bitcoins\nEnter the data that the exchange requires (usually the address of your bitcoin wallet and sometimes proof of identity)\nSend money to the address provided by the exchange and confirm the payment\nReceive bitcoins to your bitcoin wallet.\n\n🔘 How to use bitcoin?\n\nIf you have already bought bitcoin on the exchange and now own at least one satoshi, then you can:\n\nPay for purchases with cryptocurrency. Every day there are more and more companies that accept payment in bitcoins. And in some countries, bitcoin has become one of the most popular payment methods (for example, in Venezuela).\nStore bitcoins as an investment asset. The cost of the main cryptocurrency is growing every year and has doubled in price more than once in its history. This is a great investment for the future.\nDo charity work. Many opposition organizations or just foreign bloggers cannot accept donations except in bitcoins. Thanks to cryptocurrency, you can support them.\nSend and receive bitcoins. This is a great alternative to international transfers that will help you save money.\n\nUse cases of bitcoin are not limited and you can always find yours.\n\n🔘 How to mine bitcoin?\n\nMining is the process of confirming transactions in the Bitcoin system over a period of time, recording them on the blockchain and forming new blocks. There are three types of mining:\n\nSolo mining. You should buy, configure, maintain the equipment that performs the tasks, and get rewarded.\nMining pool. You should also buy, configure and maintain equipment, but complete tasks and receive rewards together with other members of the mining pool.\nCloud mining. You should rent mining hardware located from a provider who maintains it. Further, you receive a reward minus the cost of rent and maintenance.\n\nYou must choose the option that suits you. We will tell you more about each of them in the following articles.\n\n🔘 How to sell bitcoin?\n\nSelling bitcoin is not much more complicated than buying. It is divided into several stages:\n\nSelect an exchange and go to its website\nChoose in which currency and how you want to receive payment for bitcoins\nEnter the data required by the exchange\nSend bitcoins using the details provided by the exchange\nGet money in the way you specified in the second stage.\n\nWhat questions about cryptocurrency are you interested in? Write in the comments!",
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  "block": 46270125,
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    {
      "parent_author": "",
      "parent_permlink": "bitcoin",
      "author": "ecos.eng",
      "permlink": "top-5-questions-about-bitcoin",
      "title": "Top 5 questions about bitcoin",
      "body": "![FB_Лонгрид_22,08.jpg](https://cdn.steemitimages.com/DQmWW3m3Pk3marLhrhTseaneUU21LoCukpZ6YbcLqEP2yjD/FB_%D0%9B%D0%BE%D0%BD%D0%B3%D1%80%D0%B8%D0%B4_22,08.jpg)\n\n🔘 How to get a bitcoin wallet?\n\nA Bitcoin wallet is an application or program that allows you to store, send and receive bitcoins. Wallets also keep track of your balance, which is stored in one or more bitcoin addresses. Wallets also keep track of your transactions. There is a huge selection of wallets on the market now, so you just need to choose the most suitable one for you, register and start using in accordance with the instructions of the platform.\n\n🔘 How to buy bitcoin?\n\nTo buy bitcoin, you need to do 5 simple steps:\n\nChoose an exchange (we recommend comparing the most popular ones) and go to its website\nChoose for which currency and how you want to buy bitcoins\nEnter the data that the exchange requires (usually the address of your bitcoin wallet and sometimes proof of identity)\nSend money to the address provided by the exchange and confirm the payment\nReceive bitcoins to your bitcoin wallet.\n\n🔘 How to use bitcoin?\n\nIf you have already bought bitcoin on the exchange and now own at least one satoshi, then you can:\n\nPay for purchases with cryptocurrency. Every day there are more and more companies that accept payment in bitcoins. And in some countries, bitcoin has become one of the most popular payment methods (for example, in Venezuela).\nStore bitcoins as an investment asset. The cost of the main cryptocurrency is growing every year and has doubled in price more than once in its history. This is a great investment for the future.\nDo charity work. Many opposition organizations or just foreign bloggers cannot accept donations except in bitcoins. Thanks to cryptocurrency, you can support them.\nSend and receive bitcoins. This is a great alternative to international transfers that will help you save money.\n\nUse cases of bitcoin are not limited and you can always find yours.\n\n🔘 How to mine bitcoin?\n\nMining is the process of confirming transactions in the Bitcoin system over a period of time, recording them on the blockchain and forming new blocks. There are three types of mining:\n\nSolo mining. You should buy, configure, maintain the equipment that performs the tasks, and get rewarded.\nMining pool. You should also buy, configure and maintain equipment, but complete tasks and receive rewards together with other members of the mining pool.\nCloud mining. You should rent mining hardware located from a provider who maintains it. Further, you receive a reward minus the cost of rent and maintenance.\n\nYou must choose the option that suits you. We will tell you more about each of them in the following articles.\n\n🔘 How to sell bitcoin?\n\nSelling bitcoin is not much more complicated than buying. It is divided into several stages:\n\nSelect an exchange and go to its website\nChoose in which currency and how you want to receive payment for bitcoins\nEnter the data required by the exchange\nSend bitcoins using the details provided by the exchange\nGet money in the way you specified in the second stage.\n\nWhat questions about cryptocurrency are you interested in? Write in the comments!",
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      "parent_author": "",
      "parent_permlink": "bitcoin",
      "author": "ecos.eng",
      "permlink": "history-of-mining-venezuela",
      "title": "History of mining: Venezuela",
      "body": "![FB_Лонгрид_10,08.jpg](https://cdn.steemitimages.com/DQmYKpZ6YCAPVcAG4iFsvWkb6V6LfdL2Mg8KKc5P2Ra2EZk/FB_%D0%9B%D0%BE%D0%BD%D0%B3%D1%80%D0%B8%D0%B4_10,08.jpg)\n\nVenezuela is one of the leaders of most mining efficiency ratings. A lot of people do not know why it is so profitable to mine there. And the answer is quite simple - cheap electricity.\n\nNo, you did not understand. VERY CHEAP ELECTRICITY. It costs about 2 (!) Cents (!) Per 100 kW! This cost allows you to mine 1 bitcoin for $531. In Russia this number is equal to $4675, which is 9 times more. Mining in Venezuela will be profitable even if the bitcoin rate is 12 times less than today's quotes - $1000. \n\nIt would seem that Venezuela is a miner's dream. But for some reason, we do not see a large number of Venezuelan mining farms and queues of private miners at the Caracas airport. The thing is that electricity prices is the only only advantage for mining in Venezuela. And the list of shortcomings is barely enough for our article.\n\nWe are not going to delve into the political history of Venezuela, but we can say that it made mining one of the means of survival for local residents. The fact is that due to hyperinflation of 1.7 million percent a year, two Big Macs cost the same as the average monthly salary. And in order to realize this, you do not need to count the bills. In Venezuela, they are simply weighed.\n\nThe local currency loses its value every day and residents have to look for an alternative. And the good old \"Eurodollar\" does not help, since the authorities have introduced a complex system of currency exchange, in which its official rate is 10 times less than the real one. Decentralized bitcoin has become a lifesaver for the “advanced” residents, and then for everyone else.\n\nSurbitcoin, the country's leading bitcoin exchange, had only about 500 users in 2014. In two years, its audience has grown 170 times. This is how the crypto fever began. Bitcoins began to be accepted as a means of payment in stores, pharmacies, cinemas and even in educational institutions. Unlike the first state cryptocurrency, which there is no one to sell.\n\nWe are talking about the El Petro (PTR) cryptocurrency, the creation of which was promoted by the President Nicolas Maduro. Some people call it “the first state scam”. The PTR price was set at the level of one barrel of local oil - about $60. It should be noted that the National Assembly of Venezuela was against the creation of the cryptocurrency, its representatives referred to the contradiction of the country's Constitution and the risks of increasing corruption.\n\nHowever, this did not stop Maduro from releasing El Petro in February 2017. Its documentation was in many ways similar to the Dash cryptocurrency, and information about the fees could only be learned from the president (it was not possible to verify it). The issued 100 million El Petro coins were controlled by the same address until 2018, by two - since that time. In this case, the coins remains still for a long time. \n\nVenezuela has no laws governing the cryptocurrency market. But law enforcement agencies are still arresting some miners on charges of stealing electricity and storing contraband. During the raids, the police seize computers, but in many cases they keep them for themselves - and mine on their own. As a result, many Venezuelan miners had to go underground. In addition, many of them have switched to ETH - the easier cryptocurrency to mine. \n\nSince 2018, the state has begun to “tighten the screws” by limiting the number of crypto exchanges, checking bank accounts to detect speculative transactions and setting a 15% commission for cryptocurrency transfers. A decree was also published, according to which using or mining El Petro or other cryptocurrencies without permission will be punished with a fine of up to $18000.\n\nThe reasons for the rejection of the popularly recognized bitcoin are clear - it cannot be controlled, unlike El Petro. Its use could greatly help the country's economy. At the moment, a fairly large number of oppositionists, led by the head of the National Assembly of Venezuela, Juan Guaido, are fighting against the power of Nicolas Maduro. Juan Guaido  often supports Bitcoin in his statements. \n\nIf the country's power passes to the opposition, then Caracas may become not the capital of world crime, but the capital of mining. With these electricity prices, no country can compete with them. Should today's mining leaders be afraid of Venezuela's potential? Write your opinion in the comments!",
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      "permlink": "history-of-mining-japan",
      "title": "History of mining: Japan",
      "body": "![FB_ Лонгрид_30,07.jpg](https://cdn.steemitimages.com/DQmdyhtfNZp9xDMCvKgALf74obNy89pRKA2jdnmNSmrPcJx/FB_%20%D0%9B%D0%BE%D0%BD%D0%B3%D1%80%D0%B8%D0%B4_30,07.jpg)\n\nWhy hasn't Japan become the mining capital? The answer is simple - the cost of electricity. But this does not prevent Japan from being one of the countries that miners consider to conduct their business. And there are several important reasons for this:\n\nJapan leads the world in accepting, regulating and even legalizing cryptocurrencies. Today, bitcoin in Japan is a legally recognized currency. Bitcoin holders are protected by law, and its turnover is not regulated today.\n\n3.5 million citizens trade cryptocurrencies nowadays in Japan. The use of cryptocurrency in Japan in 2016 already amounted to two billion dollars. And this is about 11% of the total volume of trading operations with BTC. Japan took the first position in terms of internal Bitcoin turnover.\n\nThe fact that the creator of Bitcoin used a Japanese name as his pseudonym is also interesting. Satoshi Nakamoto tied bitcoin to Japan forever. \n\nThe explosion of bitcoin in Japan occurred in 2013, immediately after China introduced a package of laws restricting the exchange of the main cryptocurrency. Then crypto investors moved their accounts to a crypto-loyal country. And it was the right decision! \n\nAt the beginning of 2016, Japan recognized cryptocurrencies as suitable for making payments at the state level. Financial technology was widely considered in the bill that allowed the use of cryptocurrencies, and virtual currency was considered part of this growing field. \n\nThanks to this law, the turnover of cryptocurrencies in the country exceeded two billion dollars by April of the same year. Then in Japan, it was already considered normal to pay salaries in satoshi.\n\nAlso, the Japanese minister of finance encouraged the G-20 countries to discuss the issue of cryptocurrency regulation at the global level. This was driven by a large number of cryptocurrency fraud cases in the country. But the government did not plan to introduce any bans to restrict the market. Japan wanted the industry to grow with the right approach to regulation. \n\nBut despite this attitude, the country has not attracted a large number of miners. Therefore, in 2017, Japan began experimenting with other energy sources. They began to use a local hydroelectric power station, wind energy, and geothermal sources in the small town of Kazuno.\n\nJapanese villages have even become a real salvation for large mining farms. They provide a wide choice: a lot of space and less expensive electricity tariffs. In addition, the following trend has recently been noted: large miners are buying out old village buildings (mainly workshops) and converting them into farms. \n\nWhat is the future of cryptocurrency mining in Japan? Now the government is considering introducing the digital yen. Also, the largest bank in Japan, Mitsubishi UFJ, announced the release of its own cryptocurrency in the second half of 2020. Users will be able to pay for purchases using MUFG Coin and transfer money. The coin rate will be equal to one yen.\n\nThe country's authorities do everything to make mining effective and attract a large number of investors. All conditions have been created here, except for the fundamental ones. Expensive electricity does not allow to move the mining capital to Japan, here Armenia seems to have more benefits. But if experiments with alternative energy sources will be successful, then we can wait for the fastest development of mining, which has never happened before. What do you think? Write in the comments!",
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      "author": "ecos.eng",
      "permlink": "crypto-mining-in-canada-tax-catch-22",
      "title": "Crypto Mining in Canada — Tax Catch 22",
      "body": "![FB_ECOS Лонгрид_22,07.jpg](UPLOAD FAILED)\n\nThe Canada Revenue Agency (CRA) does not consider the use of cryptocurrencies and Bitcoin as certified mediums of exchange in Canada. The interpretation of the currency act states that the monetary unit of Canada is the CA dollar. The non-traditional challenges encountered by regulatory agencies are to restructure legal and financial perceptions of what “currency” is to be considered in the 21st century. The introduction of innovative blockchain technology will no doubt remove the need for precautionary legislative intervention by eliminating intermediary parties.\n\nThe Bank of Canada conducted a survey, the level of Bitcoin awareness increased from 64% to 85% over a period of 2 years and the ownership of BTC increased to 0.5% respectively. It is evident that the adoption of cryptocurrency is gradually becoming more prevalent and accepted by society at large.\n\nHut 8, one of the largest mining farms in Canada, located in the southeast regions of Alberta has invested over CA$80 million in the development of blockchain infrastructure and innovative solutions.\n\nThere is speculation in the market that Bitcoin halving will cause considerable lower profit margins, requiring mining farms to file applications for support from federal and provincial governments.\n\nDigital currencies in Canada are also subject to the Income Tax Act. How can policies be applied to transactions of intangible crypto assets? The thought of opting for privacy wallets and mixers does make one wonder how organizations such as the IRS or CRA will conjure up methods to trace the use of private coins. Monero (XMR) can be used as a prime example of being one of the largest open-source cryptocurrencies.\n\nIn March of 2014, the CRA stated Bitcoin mining activity in Canada is not exempt from taxation. Perhaps investors and those who mine Bitcoin can consider conducting business in alternative regions, such as the CIS country Armenia with 0% tax on generated revenue with higher returns on investment?\n\nThe Government of Armenia published a document on the 1st of March 2018, affirming its efforts to draft laws and policies in the adoption of digital technologies and cryptocurrency. A territory of opportunities has been developed in the Free Economic Zone of Armenia. The zone is committed to the development of digital business and innovative technological products and services. The ecosystem enables the likes of Bitcoin mining farm ECOS — situated in Hrazdan to perform legal mining operations.\n\nGovernmental policies have provided the liberalization of cryptocurrency mining activities and their exemption from taxes.\nMacro indicators in the Commonwealth of Independent States (CIS) regions reflect an overall estimated GDP growth of €1.737 trillion.\n\nStatistics show a growing consensus that CIS regions are highly underrated in the global market. New strategies need to be implemented to introduce the development of decentralized and unbias business models.",
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      "parent_permlink": "mining",
      "author": "ecos.eng",
      "permlink": "the-history-of-mining-china",
      "title": "The history of mining: China",
      "body": "![FB_Лонгрид_15,07 (2).jpg](https://cdn.steemitimages.com/DQmbur4g1D1JmhAY7ASjHXMPUqRNNKMBw722SDmKxTdRKK1/FB_%D0%9B%D0%BE%D0%BD%D0%B3%D1%80%D0%B8%D0%B4_15,07%20(2).jpg)\n\nThe death of communist leader Mao Zedong on September 9th of 1976 catapulted the Household Responsibility Systems in China’s Agricultural Reform system. “Let China sleep, for when she wakes she will shake the world,”- (Napoleon Bonaparte).  This gave rise to the accessibility for selected individual farmers to ownership of their crop production. The 7.8 % exponential GDP economic growth in the 1980s has completely transformed the influence of the Chinese empire in the global market. \n\nThe sleeping giant established more flexible market policies by creating special economic zones. Despite all efforts, inflation was at an all-time high. This ignited economic and social unrest with peaks of over 30% in all major cities. Over a span of 35 years, Chinese  GDP growth was less than $300 billion. \n\nThe introduction of new economic reforms increased that statistic to $11 trillion.  This made China the 2nd largest economy according to global exchange rates.\n\nThe introduction of the first stalk market in communist China - the Shanghai Stock Exchange (SSE) and China becoming a member of the World Trade Organisation positioned Chinese yuan to challenge the dominance of the US dollar.\n\nThe emergence of Bitcoin in China in the year 2013 was practically nonexistent. Aggravating the situation further, the People’s Bank of China decided to place regulation on the utilization of Bitcoin and alternative cryptocurrency adaptation by financial institutions. This period, however, was short-lived due to an official announcement made by Chinese President Xi Jinping in October of 2019. The race is on, sources reveal that China is surging ahead in efforts to secure its Fintech global status.\n\nChina has already outlined crypto legislation laws before the communist party conference suggesting innovative strategies on how the effective use of blockchain technology could reflect positively for the region. The integration of educational courses amongst universities is widespread. \nThe Ministry of education of the People’s Republic of China has taken upon itself the responsibility to facilitate more updated tools and strategies focused on the general comprehension of cryptocurrency amongst young minds. \n\nThere have been developments to consolidate cryptography laws in efforts to regulate innovative emerging technologies in blockchain and cryptocurrency. In rural northeast China, six Bitcoin mining farms have been developed. Combined Satoshis generated by the farms adds up to a total of 4,050 Bitcoins per month, equivalent to $448,916.28 today. \n\nThe Liaoning Province is a place of refuge for Bitcoin miners due to its environment. Bitcoin halving, combined with the difficulty of computing power does raise concerns amongst Fintech companies and the crypto mining community. It goes without saying that “Bitcoin will be the currency of the future”.  The affinity towards cryptocurrency as a method of exchange and the innovation of blockchain technology is a future the world is moving towards.",
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      "author": "ecos.eng",
      "permlink": "financial-institutions-on-the-threshold-of-a-new-stage",
      "title": "Financial institutions: on the threshold of a new stage.",
      "body": "![FB_Gene_9,07 (2).jpg](https://cdn.steemitimages.com/DQmeg3s2jJkjoKLNun5s1hj45uaD2EKwMAzHMNhjUMoNmn6/FB_Gene_9,07%20(2).jpg)\n\nFinancial institutions stand at a crossroads of deciding whether to stay compliant or take the leap of faith in crypto and blockchain. The most recognizable leading corporations in the world are in a race to develop more effective strategies to maintain their competitive edge in this high-volatility environment.\n\nThe introduction of blockchain technology in 2008 established revolutionary ways of building digital trust in financial public spaces. Organizations such as the Security Exchange Commission (SEC), FINRA, Hong Kong Monetary Authority (HKMA), and various other financial regulatory authorities are confronted with the challenge of distributed ledger technology (DLT) in finance. There are so many grey areas in developing regulatory frameworks for compliance in tokenized markets.\n\nThe aim is to collect, verify data, and ensure that transactions meet operational requirements using blockchain-enabled data credibility and technology-neutral based regulation. The use of DLT and blockchain can be applied to Security Token fund offerings (STO), Initial Public Offerings (IPO), and Multi cryptocurrency crowdfunding methods within public permissioned blockchains. Various organizations are considering the benefits of Centralised and distributed networks. Where nodes are connected under single authorities or alternatively incorporating time-stamped blocks with interconnected independent nodes.\n\nOn July 2nd MediaShares hosted the Crypto World Summit 2020 consisting of a panel of experts who specialize in blockchain, crypto and institutionalized investment funding in the vicinity of 3 million to 100 million dollars worldwide. The Chicago Blockchain Association is taking into consideration what kind of legislative procedures and policies can be adapted to cryptocurrency, utility tokens, and blockchain technology.\n\nCEO at O’Neill Capital Advisors informed summit attendees of discussions between him and the commissioner to the SEC. \nHe stated, “The regulations for utility tokens are very unclear.” He also added, “Security Token offerings are very difficult to get approved in United States markets.” What other alternative crowdfunding methods can companies and corporations administer? The opportunities of Free Economic Zones (Armenia) and offshore havens offer companies leeway to maneuver around restrictions. A safer option would be to include blockchain applications to ensure the legitimacy of all financial transactions with the inclusion of accredited investors.\n\nMediaShares CEO, chairman, and co-founder Gene Massey is trying to bridge a generation gap between Millennials and Gen-X. There is no doubt that both perspectives are valid and ought to be taken into consideration. The option of Bitcoin cloud mining for operating successful businesses using next-generation ASIC hardware, blockchain applications or simply purchasing cryptocurrency is still and always has been on the table. The catch lies in whether or not financial institutions are prepared to admit that times are changing. The longer they resist this inconvenient truth could result in reduced prospects for success in riding the crypto wave.\nhttps://youtu.be/Cvqq_QxCXtk",
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      "body": "an interesting point of view! we also have something to say on it. check if you interested ;) https://steemit.com/yuan/@ecos.eng/cryptoyuan-good-or-bad-what-will-happen-to-bitcoin-and-mining-in-china",
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      "author": "ecos.eng",
      "permlink": "cryptoyuan-good-or-bad-what-will-happen-to-bitcoin-and-mining-in-china",
      "title": "CryptoYuan — good or bad? What will happen to Bitcoin and Mining in China? 🤔",
      "body": "![FB_Лонгрид_2,07.jpg](https://cdn.steemitimages.com/DQmXDz5g4GsNah7E4zSydpWA6gQCoZPrvBa3bdMfy22mitD/FB_%D0%9B%D0%BE%D0%BD%D0%B3%D1%80%D0%B8%D0%B4_2,07.jpg)\n\nIn April of this year, for the first time in history, China launched its own cryptocurrency — the digital yuan. It would interesting to compare opportunities and obstacles facing the crypto mining industry. In starting a discussion with respects to this development, an assessment would have to be made on the influence of the crypto yuan and its effects on the mining sector as a whole.\n\nIn October 2019, President Xi Jinping of China announced that the development of blockchain technology is one of the state’s priorities. The world has seen an accelerated growth and expansion this market area. The chinese crypto yuan is now a leader in digital cryptocurrency.\n\nIn April 2020, the first version of the RMB application came online. According to preliminary data, a white list of clients were one of the first in line test the application. This list included the Agricultural Bank of China (Ranking 7th worldwide in gross revenue) in four pilot project districts of Shenzhen, Xingang, Chengdu and Suzhou.\n\nSamples of the earlier versions on the network show several basic functions. The usability interface itself, is in many ways similar to applications of alternative Chinese payment method platforms, e.g. Alipay and WeChat Pay. According to various statements by officials, it is far more simpler to understand the various features and functions of cryptocurrency.\n\nIn 2014, Xiaochuan Zhou, Governor of the People’s Bank of China, established a state funded — Digital Currency Research Institute. The study was conducted to assess the potential uses of the application and how it appertains to improvements of the central bank. Over a span of six years, numerous research centers have surfaced which has resulted in the introduction of the digital yuan.\n\nDigital Currency Electronic Payment (DCEP) was the Chinese states response to issuance of digital currency by the central bank.\n\nThe four largest banks (CCB, ICBC, BC, ABC) including Alibaba, the Tencent Corporation and Union Pay payment system all have the authorization to conduct business using the crypto yuan.\n\nAs the crypto yuan consolidates its position in the market. The number of companies ready to adapt this form of currency has gradually increased.\n\nWith talks of plans to develop a national Chinese digital currency, the effects could catapult the RMB into uncharted financial territories and contribute to the internationalisation of the cryptocurrency. It could be possible that the Chinese yuan could replace the US dollar. Giving the yuan an opportunity to be used as a leading international trade currency. Blockchain technology is being adapted into the framework for the integration of these digital currencies.\n\nThe ineffectiveness of the digital RMB lies entirely in the fact that Chinese authorities use strict measures to control the liberty of their citizens. States use multiple surveillance methods to trace all financial transactions through banks. This gives authorities complete access to information of every coin exchange. It would be interesting to envision a world where every dollar were tracked! The Chinese yuan is issued on a centralized blockchain. A one-time coin ejection only distributed by the authorities. Each coin is essentially microchipped. Chinese nationals involved in financial transactions using the crypto yuan will be monitored. Every purchase and every exchange.\n\nInformation on spending habits of individuals in societies reveals details on location and social status. Intelligence gathered by institutions unjustifiably violates the privacy of sovereign individuals in society. “He who owns the information, he owns the world” — Vadym Danko. The manipulation of using engineered social programming methods are far more effective tools that can be used to control a population.\nPossible Implications — Emergence of the Crypto Yuan.\n\nIn order to comprehend the nature of what is happening — it is apparent that governmental and state institutions have turned their attention to the integration of digital currencies. New technologies of blockchain and crypto are steadily becoming familiar to a wider audience. Perhaps in the near future, governmental institutions will most lightly try to subjugate cryptocurrency markets. Giving rise to digital currencies — coincidentally will try to pressure countries in favor of financially decentralized cryptocurrency. The launch of the DCEP system can encourage a motif for social tolerance and acceptance for the assimilation of blockchain technology. Investment organisations should be more willing to accept change by, access to information and education on the subject matter.\n\nWith respect to the cryptocurrency mining industry in China, it is readily evident that the concerns of Chinese cryptocurrency miners continue. The authorities are gradually applying pressure on industry sectors. Sources claim Yunnan authorities demanded the closure of sixty-four cryptocurrency mining farms, seven of which are under construction. According sources, the projects commenced without the official approval from regional governments and authorities, as a result a number of mining farm properties are on the market. Yunnan, along with Xinjiang, Inner Mongolia and Sichuan provinces, are leaders in the Chinese cryptocurrency mining sector. They account for an estimated 30% of the global Bitcoin hashrate. Incidentally, Sichuan authorities are deeply involved in a number of cases. In May 2020 an announcement was made with the intention to financially back cryptocurrency mining companies. The end of the month was met by catastrophic news of the legal implications and penalties these companies would be facing. A ban on the extraction of cryptocurrency had been affirmed. The emergence of the crypto yuan will only complicate the situation for miners further.",
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  "trx_id": "0aa6f70ea7c5ee5e767b85a610a4e43eda92fa63",
  "block": 44704629,
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  "timestamp": "2020-06-30T17:39:36",
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    {
      "parent_author": "",
      "parent_permlink": "bitcoinmining",
      "author": "ecos.eng",
      "permlink": "top-3-main-mining-challenges-and-how-to-struggle-it",
      "title": "Top 3 main mining challenges and how to struggle it",
      "body": "![photo_2020-04-20_19-54-01.jpg](https://cdn.steemitimages.com/DQmaZX5buUVXGYPQNXaFMkmpzVKySP612uwDWXr8J3V9gj5/photo_2020-04-20_19-54-01.jpg)\n\nCrypto Mining is itself a digital currency mining process. And like for any other digital industry, mining faces a number of difficulties. The task of each miner is to know about them, to be able to recognize and deal with them. Digital currency mining goes hand by hand with blockchain technology. This is the most innovative technology in the financial sector. Explaining in simple words blockchain technology as a kind of book that compiles information.\n\nThe technology is a string of blocks containing verified data, united by “hashes”. Therefore, to create a blockchain, data must be processed and verified. It is here that crypto miners connect, checking the data and receiving a reward for the crypto for this.\n\nMining can be an extremely profitable business, but you need to remember about the possible difficulties that may arise and try to minimize them.\n\nLet's highlight 3 main challenges in the mining sphere:\n\nFirst place - too high energy costs. We all know well, without electricity there is no mining. And prices per watt are now “biting” all over the world. In order to mine to the maximum you need to combine hundreds of ASICs to solve one problem. Therefore, this will require extremely high power output, which will cost you exorbitantly high electricity tariffs. There is evidence that the production of digital gold consumes more energy than 150 countries in common. But here are the possible solutions to this problem.\n\n\n1. Crypto miners can choose less energy-intensive protocols. One of them is the Proof of Stake (PoS) consensus, which protects networks with cryptography. \n2. To reduce costs,  mining farms can use alternative energy sources, hydroelectric power plants, solar energy, and wind and sea tide energy for example. Many mining companies have already taken note of this idea.\n\nCentralization rightfully takes the second place.\n\nASICs have proven their ability to exclusively mine specific cryptocurrencies. They are so powerful that after the release of ASIC, it is already extremely difficult to do without such equipment in the industry. Although this is a big development in the sphere itself, it is also perceived as a challenge. And since ASIC manufacturers are very few, the mining space will ultimately be centralized. However, there are two possible ways to solve this problem: decentralization of the production process of ASIC miners and the implementation of a new hashing algorithm that effectively removes all existing ASIC miners.\n\nAnd the last point here - and no less important - vulnerability to hacker attacks. Besides creating a democratic space, the essence of decentralization is to ensure security, right? Well, hackers are becoming more sophisticated in using your resources. Mining pools have been exposed to cyber attacks more and more recently.\n\nThere is no universally accepted solution to solve this problem as such, but the PoS enhancement adopted by DigiByte, which uses a hybrid of five protocols on its blockchain platform, is a powerful tool that crypto miners can use to protect against this form of attack. Meanwhile, it is interesting to know that each protocol provides only 20 percent to protect the platform in this case. Thus, if one system is at risk, 80 percent remain unchanged. In the same way, this hybrid model helps to resist centralization. At any time, the miner will control only 20 percent of the network, even if he was responsible for 100 percent of the mining under this protocol.\n \nIn the end, I would like to note that any problems and challenges are created in order to successfully overcome them. And the more technologies improve, the more new opportunities arise. Everything is in your hands! Successful and safe mining for you!",
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  "trx_id": "f04c7ac23974ef94823e58aad995821459fbd54b",
  "block": 44588461,
  "trx_in_block": 2,
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  "timestamp": "2020-06-26T15:52:06",
  "op": [
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    {
      "parent_author": "",
      "parent_permlink": "blockchain",
      "author": "ecos.eng",
      "permlink": "faculty-of-the-future-where-to-learn-blockchain-and-cryptocurrencies",
      "title": "Faculty of the future. Where to learn blockchain and cryptocurrencies?",
      "body": "![photo_2020-04-20_19-55-30.jpg](https://cdn.steemitimages.com/DQmQcnL4gp3w4x6V3c8auMSWc3QXFDXYaPymongemDmAf3n/photo_2020-04-20_19-55-30.jpg)\n\nMore and more universities around the world are offering now new industry courses. The demand for education on the blockchain is just growing: specialists are looking for opportunities to fill the gap in skills and keep up with the development and regulation of popular technology. Nowadays universities or other educational institutions offering blockchain courses are quite seldom on a global scale. However, the situation is changing for the better. In the US, this process is developing very rapidly, as well as in other countries.\n\nRecent studies have shown that almost half of the world's top 50 universities offer at least one blockchain and cryptocurrency course. Somewhere these are full courses, and somewhere these are separate subjects that are included in other programs. If  few years ago the number of students at the very first of them was comparable to the school class, today university audiences are crowding from those who want to gain knowledge in a promising innovative field. The largest selection of cryptocurrency courses is provided at Stanford and Cornwall University.\n\nStanford has as many as seventeen courses available at five faculties, so this is by far one of the best universities to date with a focus on blockchain technology. They offer a diverse approach - both full-time and online courses.\n\nEven more - such courses teach not only at computer science departments, but also at many others - from anthropology and history to politics and finance. This is explained by the potential of using blockchain in completely different areas of our lives.\n\nUniversities are creating research centers and courses in response to increased demand from students, who, in their turn see  very high demand from employers. Representatives of universities say that specialists in blockchain, cryptography and cryptocurrencies do not have to look for work at all - business sector itself offers them jobs.\nTo get this type of education you needn't even  go to university sometimes. Famous online education sites, such as Coursera, edX, Udacity, Udemy, class-central.com and others, offer many (including free) courses on the basics of cryptography and specialized areas of blockchain and cryptocurrencies. Among the lecturers of online courses you can also meet the teachers of world top universities.\n\nHere is a selection of programs in English and Russian, where it’s not too late to sign up.\n\nOnline English Courses\n\nUsing Cryptography Correctly, Stanford\nDuration: 60-day access to online materials + exam\nCost: $ 495\n\nBlockchain Technologies: Business Innovation and Application, MIT\nDuration: 6 weeks\nCost: $ 3,500\n\nBreakthrough Innovation with Blockchain Technology, Harvard University\nDuration: 13 weeks for 2 hours\nCost: $ 2,750\n\nBlockchain for Business, Cornell University\nDuration: 2 weeks for 3-5 hours\nCryptocurrency and Disruption, London School of Economics and Political Science\nDuration: 8 weeks for 7-10 hours\nCost: £ 1,900\n\nBitcoin and Cryptocurrency Technologies, Princeton University and Coursera\nDuration: 11 weeks, 1.5-4 hours each\n\nThe innovative company ECOS also offers a number of training webinars and educational programs in various and accessible modules. By choosing a product of our company, you will gain the necessary knowledge about blockchain technology, digital currencies, learn the main advantages of Bitcoin and master the skills of passive investing. ECOS is your bridge to the future, we will help you to think globally and will help you to find out your own special talents!\n\nOn our website https://ecos-store.com/ you can choose a convenient educational module - standard (Simple), best choice (Best choice) and VIP. Now a special offer is relevant, a package - for only $ 59! As mentors of our courses, we select only the best practitioners, blockchain experts and employees of large companies, each of them has a special education and lots of  experience in this industry. The technology is comprehensive and requires deep knowledge for global regulation. \n\nECOS is an innovative ecosystem, which includes data centers, an industrial mining center, a venture fund, an R&D laboratory for the development of innovations, an educational platform, acceleration programs and the Armenian Blockchain Forum information and educational modules.\n\nThe main objective of the ECOS project is to create favorable conditions for financing and development of export-oriented companies in the field of high and information technologies. ECOS activities are aimed at forming the industry of companies creating products based on blockchain technologies, as well as attracting highly qualified specialists and world-class experts. \n\nToday, “blockchain engineering” takes the second place in the list of the most demanded skills in the labor market.\nFor example, a blockchain developer in the USA earns up to $ 130 thousand a year, in Switzerland thanks to the active development of the ICO industry from $ 120 to $ 180 thousand, in the UK - $ 50-60 thousand in start-ups and $ 90– $ 140 thousand in large companies . The number of vacancies related to blockchain, cryptocurrencies and DLT has grown 4 times in 2019 and continues to increase in 2020. This trend is easily explained - blockchain specialists are required in new firms that continue to appear, and even more so in large corporations that plan to implement blockchain. So now, perhaps, it's time to learn. Come learn new technologies and build the world of the future with ECOS!",
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      "parent_permlink": "bitmain",
      "author": "ecos.eng",
      "permlink": "bitmain-jihan-wu-vs-micree-zhan-what-happens-between-the-founders-of-the-largest-mining-hardware-equipment-company",
      "title": "Bitmain: Jihan Wu vs. Micree Zhan. What happens between the founders of the largest mining hardware equipment company?",
      "body": "![23,06 - Лонгрид_1200х630.jpg](https://cdn.steemitimages.com/DQma6zjP33SiHmmyfJPwAf44qAwyqjywHbAh5M8PjGgv1de/23,06%20-%20%D0%9B%D0%BE%D0%BD%D0%B3%D1%80%D0%B8%D0%B4_1200%D1%85630.jpg)\n\nLet's look through the history of Bitmain.\n \nThe founders of Bitmain were Jihan Wu and Micree Zhan. Entrepreneurs are kept in the background, the details of their biography are little known. Jihan Wu received degrees in psychology and economics from Peking University. Micree  is an engineer by education. He received his degree from the Chinese Academy of Sciences. They first met in the far away 2010, while Zhan led his own startup - DivaIP. Jihan  Wu worked at that time in  a venture fund and accidentally drew attention to one of the DivaIP employees who advertised the company's product right on the street.\n\nWu became interested in the project and decided to meet with Zhan. Anyway,  at that time he needed venture capital and asked his future partner for advice. But in the end, Wu was unable to help Zhan and DivaIP. The story could have ended with a chance meeting, but in 2011, Jihan Wu became interested in bitcoin. The idea to create a company that will manufacture mining hardware equipment did not come immediately. At first, Wu chose to invest in bitcoin. At that time, its rate was at the level of 1 dollar per coin. Wu invested all his savings in BTC. Relatives seriously feared that he was the victim of scammers. But they soon realized that Wu made a timely investment. In 2013, the Bitcoin exchange rate began to grow rapidly. Wu managed to not only to return the investment, but also to earn. Having received the starting capital, he decided to enter the mining hardware equipment market. But the company needed a talented engineer. Wu remembered Zhan and wrote him an email in which he outlined everything he knew about bitcoin. Zhan in fact spent about two hours reading about this cryptocurrency on Wikipedia. In the end, he decided that he wanted to participate in the project. Together in 2013 they created Bitmain. In addition, since 2012 ASICMiner and Butterfly Labs have been on the market. It all depended on who was the first to release a breakthrough product.\n\nIt took six months to develop the first Bitmain ASIC. Antminer S1 appeared in November 2013. It stood out with a power of 180 GH / s and a relatively low cost of electricity of 360 watts.\nBitmain then underwent a shock corporate restructure. On October 29, at a closed meeting of the board of directors, the co-founder of the company, Jihan Wu, dismissed his business partner and the second co-founder of the company, Micree Zhan, from all posts. Wu admitted that Bitmain was on the verge of bankruptcy,and  called Zhan unreliable, and his ideas for developing a startup were insane. Now the entrepreneur was not allowed into the office, and employees were forbidden to communicate with him. However, he states that he is ready to assert his rights in court and intends to return to the company as soon as possible. Zhan's sharp dismissal occurred just a week after Bitmain applied for another IPO attempt in the United States. Why are Wu and Zhan are fighting, what are Micree`s chances of getting back his post? Indeed not a single conflict between the founders ever has led the company to wealth and  prosperity. And while the press observes all the new funny details of this conflict - one of the founders attacks with hired guards, and the second with special forces reflects the attack, the affairs of the company itself are actually pretty affected.\n\nBy 2018, Bitmain took the position of the world's largest developer of ASIC for Bitcoin mining, and its founders became the richest people in the crypto world. 2017 brought billions to the company, but the past two years have been quite challenging for the business.\n\nIn September 2018, Bitmain filed for an IPO on the Hong Kong Stock Exchange, valuing the business at $ 3 billion and hoping to raise between $ 14 and $ 18 billion. Hong Kong regulators suggested that due to the lack of rules for regulating the crypto industry, the application would not be approved. In November 2018, the company owed $ 300 million to the TSMC chip manufacturer. Then Wu decided to rent power from bitcoin miners in the Antpool and BTC.com pools for mining BCH. Bitmain paid for a hashrate in BTC, and received a reward in BCH. This turned out to be unprofitable - the company was losing several million a day. In addition, due to the bear market, the unsold reserves of miners reached one billion.\n\nDue to debt in December 2018, the company laid off about half of its 3,000 employees. Later, the mining giant closed its offices in Israel and the Netherlands and suspended production in Texas, where it had from 7,000 to 8,000 miners. In March 2019, the IPO application expired, after which the company decided to apply for the New York Stock Exchange.\n\nThe media wrote a lot about the short-sighted management policies of both CEOs, and their tandem predicted a gloomy ending. Last November, rumors circulated about the simultaneous resignation of Wu and Zhan.\n\nIn January 2019, Wu and Zhan had left their CEO positions -  and the right to make strategic decisions either. Haichao Wang was appointed CEO, Zhan became chairman of the board and executive director.  Perhaps he had the feeling that he had lost everything. And decided to compete again. In July of this year, Wu founded his own trading crypto platform Matrixport. It seemed that the founders' conflict had calmed down for a while, but broke out again in November of this year. On October 29, at an emergency meeting of the company, Jihan Wu said that their conflict with Micree has been ongoing since 2015 and explained why he considers it necessary to remove his long-time partner from managing Bitmain. A letter was sent to all company employees stating that they were forbidden to follow Zhan’s instructions. Wu himself again took the position of CEO. Eh, Micree Zhan has now really lost a fight. But for how long? \n\nWhat is happening in the company in recent days - in early June 2020, Micree  still regained control of the company's office in Beijing, again enlisting the help of employees from private security agencies. Within two hours, two dozen security guards stormed the company's office. Micree in his letter, apologized to the company employees and promised that he would achieve the company's IPO. He estimates that Bitmain’s value could reach $ 50 billion over five years. He also promised cash rewards to those who go to work. Now Bitmain is actively discussing the issue of transferring employee labor contracts from the Beijing office to a subsidiary. Recall that the previous episode in the struggle was Liao Liu’s attack on Zhan. \n\nIn conclusion, I would like to add that while the so-called sharing of the company’s pie is in progress and the conflicts of the founders entertain the public, the situation in Bitmain remains stable now and the crisis has been overcome. The company has survived - despite the difficulties in the top management, it still hasn’t got any worthy competitors - and Bitmain is still the hardware mining industry leader. Corporate conflict also occurs amid the fact that the upcoming halving on the Bitcoin network urges mining companies to make tough calculations, and their teams to possess in-depth knowledge of classical financial management. Interest in Bitcoin mining continues to be high, competition intensifies, as evidenced by the fact that the hashrate of the Bitcoin network again updated its historic maximum this year.",
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      "amount": "0.001 STEEM",
      "memo": "Did you know you can buy silver and gold directly using steem?  Checkout https://peertopeerbullion.com.  More products being added daily. \r\n\t"
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{
  "trx_id": "febf1820c2a44c501b5f625b6ee12aaf817538ef",
  "block": 44104485,
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  "op": [
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    {
      "parent_author": "",
      "parent_permlink": "mining",
      "author": "ecos.eng",
      "permlink": "new-opportunities-to-create-an-income-how-can-you-make-money-on-the-growth-of-bitcoin",
      "title": "New opportunities to create an income. How can you make money on the growth of bitcoin.",
      "body": "![photo_2020-05-19_13-02-38.jpg](https://cdn.steemitimages.com/DQmc3kJBLpmZmhdK6LiHcuxrAuKokToQ59V1Ur834RxH1aP/photo_2020-05-19_13-02-38.jpg)\n\nThe world economy has changed significantly during the coronavirus pandemic, and as a result, there has been a decline in business activity around the world, a decline in the stock markets, undermining consumer confidence and opportunities. Now the expression that the world will never be the same has become more popular than ever. But it is during the crisis that new opportunities are born.Right now, the expression that the world will never be the same again has become more popular than ever.\n\nThe best players, investors and entrepreneurs, created and increased their capital exactly in times of global crisis. And the main question was the correct choice of tools.\n\nYou can’t learn to swim without going into the water. Life is unpredictable and everyone can hit their jackpot. Show courage, patience and resourcefulness, and we will teach you how to make money on bitcoin right now.\n\nDigital currencies jumped in a new era in the financial system and not only changed the essence of money, but also provided modern society with a new model of earnings. Investments, mining and trading of cryptocurrencies are the main areas for generating income, which today have embraced the online community and are gradually moving to the offline level.\n\nWhile some people are losing their jobs mostly, they demand support from the state, others invest in “digital gold” and multiply their money!\n\nIn 2017, a huge number of people earned on the growth of bitcoin up to $ 20,000. And those who bought at the peak were already too late.\n\nHalving and the integration of new investors into the market helps the coin steadily to move up. Let’s take a look at the bitcoin life chart. Despite significant volatility, this digital currency is definitely the most interesting and innovative asset against inflation and the coming economic depression.\n\nAnother reason for the growing attractiveness of bitcoin as an investment, Japanese analyst Tetsuyuki Oishi believes the correlation between the crypto market and traditional financial instruments is low. Gold and cryptocurrencies fell slightly during the downturn in the stock market, but now their price has recovered. This suggests that these assets are not dependent on a “gloomy future society,” he explained. Playing on the Bitcoin course and cloud mining are new chances to win in the digital market.\n\nBitcoin mining has long been another global market for the digital economy, and now you should think about and make truly effective decisions both for creating financial savings and for multiplying them.\n\nWorld manufacturers of computing devices that are used in the field of mining, year after year, increase the power and efficiency of the manufactured equipment leveling the effect of halving on the profitability of miners.\n\nThe main thing to remember: passive income on mining is no longer possible at home. The era of mining on video cards is long behind, and the noise level of new equipment exceeds the mark of 70–75 dB (louder than a vacuum cleaner). And it needs to work all the time, even at night.\n\nOnly specialized equipment for cryptocurrencies (ASIC) and only through its placement on professional farms like ours, located in the free economic zone in Armenia.\n\nHere you can place your equipment and forget about the problems with connecting to the blockchain network, configuration and maintenance. All the problems associated with the purchase, installation and maintenance of equipment, electricity bills — all this ECOS takes care of, and you just get your income! It is true lucrative opportunity guys! \nOur cloud solutions will save you from such a headache and difficulties characteristic of home mining. Believe me, this is millions of times more profitable than keeping equipment at home or renting a separate area. ECOS equipment is the most modern and reliable, Bitmain is the supplier of our ASIC devices. We are located in the free economic zone of Armenia and are directly connected to the largest thermal power station Hrazdan. \n\nWe offer for you:\n- Cloud mining contracts — when a user buys a service in the form of equipment capacity (Terahash -TH) for a certain time.\n- The equipment itself is ASIC, as well as accommodation in a mining hotel and after-sales service.\n\nPayment is available both by credit card and cryptocurrency. This is also a huge plus, as everyone knows that most \nscammers do not use bank cards now.\n\nThe result of owning the Contract is the daily income from mining ECOS farm equipment. You will receive your income every day — isn’t that great ?! The user receives his income to his balance in his personal account from which he can withdraw earned money both in the form of accrued bitcoins and cash on a bank card. In case of purchase of the Contract, the client does not bear any risks associated with the possibility of breakage or theft of the device.\n\nBuying our equipment, the client receives a connection to the world’s largest mining pool (BTC.com), stable daily service and cheap electricity. Anyway the customer can pick up the equipment at any time, having paid the shipping cost, we also offer a guarantee for the purchased device. We care about each of our customers and offer 24/7 support. The client does not need to listen to the noise of coolers, beware of interruptions on the Internet and power surges and the client’s expenses are reduced to the minimum. ECOS is the organizer and sponsor of many hype events in the field of blockchain and digital technologies. In conclusion, I would like to tell, that cloud solutions in mining are totally a plus compared to their home version, ideal for users with minimal experience in this field, without special equipment or a lot of free time to arrange a farm, you just need to follow the bitcoin rate and understand essence of the matter. Now is the time to act! Visit our ecos.am website and take your first steps in mining with us!",
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      "parent_permlink": "bitcoinhistory",
      "author": "ecos.eng",
      "permlink": "let-s-look-through-the-mining-history-its-raise-and-fails",
      "title": "Let's look through the mining history – its raise and fails",
      "body": "![longread_1920_1080_ (2).png](https://cdn.steemitimages.com/DQmSdHoNg6GZFbC1t9xrDnVZ1vJzunteq3DNo7LimbMqK7y/longread_1920_1080_%20(2).png)\n\nOver the past decade, the machines that maintain the Bitcoin network have undergone rapid technological development.\nMining equipment is a fundamental feature of the success of the bitcoin network because these machines determine whether or not it is profitable for miners to do what they do – that is, process the calculations needed to embed blocks of transactions on the blockchain. \n\nWhile somewhat overlooked, the history of bitcoin mining equipment is also a key explanation for why the activity of mining has evolved over the years into a multi-billion-dollar industry. The mining industry continues to evolve today, though there are signs to suggest its development is slowing down.\n\nBitcoin mining was once nothing more than a lucrative hobby for nerdy cryptocurrency enthusiasts. The only hardware required, in the beginning, was a simple computer. Things have changed a lot in less than 10 years.\n\nCPU Mining\n\nOn Jan. 3, 2009, pseudonymous creator Satoshi Nakamoto mined the first bitcoin block. As the only miner on the bitcoin network at the time, Nakamoto didn’t need specialized equipment to launch the bitcoin blockchain. He was able to create bitcoin blocks using an average personal computer. \n\nHardware needed to mine new coins evolved over time as new miners joined the Bitcoin network and started to compete for block rewards.\n\nIn 2009 the first bitcoin miners used standard multi-core CPUs to produce BTC at a rate of 50 per block. If you had a couple computers lying around with decent specs you could have earned about five dollars a day. The difficulty of mining (amount of computing power necessary) was so low then it was worth it for hobbyists and crypto nerds to participate.\nToday, mining 50BTC would reward you in excess of $434,000 per block. A little over a month ago, when it was trading at nearly $20K, that same nerdy “hobby” would have netted you nearly a million dollars a pop.\n\nIn case you are going to hop in your time machine don’t go back to ancient 2009. It was a strange time where people used GPUs to play video games, instead of playing them with cardboard like we do in the present.\n\nGPU and FPGA Mining\n\nThe first major innovation to bitcoin mining hardware came shortly after a market value for bitcoin was established. \nOn May 22, 2010, computer programmer Laszlo Hanyecz paid 10,000 BTC for two Papa John’s pizzas. The pizzas were worth around $25. According to cryptocurrency data provider Coin Metrics, bitcoin market price then appreciated in July to around 8 cents. By the time the bitcoin price reached 10 cents in October 2010, the first mining device leveraging graphics processing units (GPUs) was developed.\n\nExcept mining difficulty continued to rise, and with it, the power requirements would soon become too steep for your average hobbyist to make any money. By June 2011 field-programmable gate arrays (FPGAs) were becoming all the rage.\nASIC mining\n\nThe third major innovation to bitcoin mining likely required the largest amount of dedicated resources, time and development to achieve. Rather than repurposing the software and hardware parameters of existing machines, efforts to create an entirely new machine that would only mine bitcoin finally paid off. In 2013, a China-based computer hardware manufacturer called Canaan Creative released the first set of application-specific integrated circuits (ASICs) for bitcoin mining. \n\nThese devices, unlike CPUs, GPUs and FPGAs, were designed at their outset to mine bitcoin. This meant that all hardware and software components of these ASIC devices came pre-designed and optimized to compute strictly those calculations necessary to create new bitcoin blocks. The efficiency gains from ASICs could not be matched by any of the more general purpose devices that preceded it. \n\nWhile Canaan Creative was the first bitcoin ASIC manufacturer, others such as Bitmain and MicroBT also came up with new versions of ASIC bitcoin mining devices with increasingly advanced hardware. \nAs in every history, in crypto history there are many good and bad stories.\n\nIn 2017 was a real mining hype, there were lots of success samples. ASIC Antminer S9 appeared firstly in 2016. The device is intended for mining cryptocurrencies on the SHA-256 algorithm, the main cryptocurrencies on this algorithm are Bitcoin and Bitcoin Cash.\n\nASIC delivers 14TH / s and consumes 1300W, earlier S9s have less power, there were versions at 12.5TH / s, 13TH / s, 13.5TH / s, of course, and they consumed a little less from the outlet.\n\nThe most Crypto mining hype was about S9, with the growth of the market in 2017-2018, how the price grew on them and how those who were at the very beginning who bought the equipment on the cheap before the start of the hype won in the end. So the most important thing in this history was to buy ASIC equipment and mine before the market expand. \nIn 2017 was a really mining heyday. And the same as it goes in nature after every sunrise comes sunset. Mining industry is not an exception.\n\nMost of 2018 was accompanied by a requiem for bitcoin and the cryptocurrency market as a whole. After the rapid, disarmed all skeptics' take-off last winter, the first digital currency depreciated inexorably for many months, dragging out all the other coins. The unshakable faith of investors in revolutionary blockchain technology and the money of the future turned first into panic and bewilderment, and then into anger and rejection. In spite of all it was too early to bury bitcoin. \n\nRise from the ashes\n\nDespite a number of problems, the crypto industry has good prospects for further growth. However, the situation is complicated by the general decline of the global economy and the fact that now all markets are in a fever. Some believe that during the crisis, cryptocurrencies will become a conditional safe haven for investors, while others are sure that they, on the contrary, will seek to avoid risks and will prefer traditional investment instruments. How it will actually be is unknown, however, analysts at the Weiss Ratings rating agency claim that now is a good time to acquire cryptocurrency. And there are several objective reasons for this.\n\nThe decrease of hype stabilized the market and reduced volatility, this scared away amateurs, but attracted the attention of bankers and large funds, which can significantly affect the value of digital assets. Now on the market there are mainly those who will keep the cryptocurrency in spite of any drops, which means that for a group of large players interested in a collapse of the course, there is little point in continuing to drive the price down. At the same time, digital currencies are becoming commonplace everywhere.\n\nAs a conclusion we can say that everything is quite cyclical - who managed to enter the market at the end of 2016 and the beginning of 2017 (although there was still no wild market growth) that was a winner. Who jumped in the last moment - already closer to the end of 2017 (when growth was already in full swing) - he missed the opportunity! And it was sad It was necessary to start much earlier. And previous years have shown how cyclical the market is. And it is up to you to decide whether to start now or wait when the market accelerates and jump into the last car.\n\nIt should be noted that the industry was actively developing on the eve of halving. The largest increase in hash power can be observed in North America and Canada. This is evidenced by an increase in the bitcoin hash in March, when the value reached 133.29 EH / s. Active investments in mining on the eve of halving indicate that new companies are counting on an increase in the value of the asset.\n\nMany analysts are confident that, as after the first two halving in 2012 and 2016, the value of the asset will increase. Against the backdrop of the global economic crisis, interest in cryptocurrencies will increase due to the quarantine due to the COVID-19 pandemic and the instability of the oil market. According to bold forecasts, the price of bitcoin will increase to $ 50,000 by the end of the year. So there is a huge prospect in the industry.",
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      "memo": "❗ Hello ecos.eng, great that you are using the STEEM blockchain. The Executive Board invites you to visit https://discord.gg/KyBbmhh where you will get some insider infos on how you will earn the most coins. It's easy, just follow the instructions. Warm regards, The Executive Board."
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{
  "trx_id": "78d3e7c7c1fe51fa00d5f3dd858ab5c371198072",
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      "parent_author": "",
      "parent_permlink": "halving",
      "author": "ecos.eng",
      "permlink": "bitcoin-mining-difficulty-what-should-we-expect-after-halving",
      "title": "Bitcoin mining difficulty. What should we expect after Halving?",
      "body": "![photo_2020-05-11_13-28-51.jpg](https://cdn.steemitimages.com/DQmYXsCcP6hKTGNyLtc3YyExCsBmH77QEqdvCRugprAiiGm/photo_2020-05-11_13-28-51.jpg)\n\nWhat is BTC halving definition?\n\nHalving is the decrease of the size of the reward to miners for adding a new block to the Bitcoin blockchain. It is known that Satoshi Nakamoto put halvings on the bitcoin network every 210 thousand blocks, that is, about once every 4 years - until the moment when with the extraction of 21 million coins (presumably in 2140) the cryptocurrency emission will be completed. The last halving on block 630,000 occurred on May 11, 2020 at 22:24.\n\nBy the way for the sphere of mining and cryptocurrencies in general, an increase in the rate of bitcoin is extremely important.\n\nSmall miners will not be able to continue working after halving, representatives of the largest mining pools are sure to do that. It became simply economically unprofitable for them. In the event that BTC in the near future does not go to a significant increase, then the many miners will be turned off and there will be a drop in complexity. Reducing the number of miners in turn reduces the complexity of mining BTC. Cheaper transaction costs will increase their appeal to ordinary users. This will inevitably lead to their increase, and after it most likely to the growth of the Bitcoin exchange rate.\n\nNow infrastructure companies themselves are trying to support the miners. For example, the flagship of the market for miner manufacturers - Bitmain partially compensates for the costs of buyers of new devices that pre-order new, more powerful equipment - ASIC Antminer S19 Pro and S 19. You can now buy these and other models of the entire BITMAIN line from our  website mining.ecos.am.\n\nIn April, the cost of bitcoin several times exceeded the level of $ 7,000. Currently, it will once again gain a top meaning above $ 9,000.\n\nECOS analysts will talk about previous halvings. The current BTC price is below the breakeven point of mining. This is good, but not enough for any miner. An important point is that after a short period of time after previous halvings, the price of the leading digital currencies began to grow rapidly and set another maximum\n\nNow is the time to think about investing in this highly profitable digital financial asset.\n\nThere were already two Bitcoin halvings in 2012 and in 2016.\n\nFirst Halving 2012-11-28\n\n- Before the event: the reward was 50 BTC per block\n- After: 25 BTC\n- Price on the day of the event: $ 12.35\n- Price 5 months later: $ 127.00\n\nOn this day, the price rose 1.7% - a slight movement. However, the previous and subsequent months showed continued growth and led to the famous rally in early 2013 (from $ 13 to $ 260 in 4 months).\n\nSecond Halving 2016\n\n2016 was the second year in history.\n\n- Before the event: reward 25 BTC per block\n- After: 12.5 BTC\n- The maximum growth rate on the day of events is 657.61 usd.\n2nd halving (07/09/2016): the price reached the bottom 539 days before the event, then increased by 309%\n - Price 5 months later: $ 758.81\n\n\n![photo_2020-05-28_13-14-22.jpg](https://cdn.steemitimages.com/DQmTPSjF6U93HubdUuMAyif4TpfQ17PpDVXZmAHQpcNkbsF/photo_2020-05-28_13-14-22.jpg)\n\n \nECOS as a full-fledged infrastructure, offers flexible solutions for successful cloud mining with varying degrees of risk and affordable starting entry price, comprehensive solutions, purchase of ASIC equipment and placement of purchased equipment on hosting + service in the free economic zone in Armenia, where our mining farm is located.\nThanks to long-term relationships with leading manufacturers, we are among the first to receive the most modern and efficient mining equipment, which allows our company’s customers to rely on maximum profit.\n\nHalving removes low-power mining farms from the game, which, as the history of the first cryptocurrency shows, positively affects its value in the long term. Central banks can print as many rubles, dollars or euros as they like. The Bitcoin program code contains a maximum mining limit of 21 million coins. Halving protects the BTC  from inflation, making it more like gold than regular money.\n\nWhat will happen after halving bitcoin? Will it weaken the BTC ecosystem?\n\nWell-known cryptanalyst Osato Evan believes that the Bitcoin exchange rate will reach a new historic high of $ 20,000 as early as this 2020. His forecast is based on historical facts. Bitcoin has been halved twice already, and after each date, the price of the coin only increased.\n\nBrave New Coin CEO Fran Strainer is even more optimistic. According to his forecast, by the end of 2020, digital gold will be sold at $ 200,000 per coin. Brave New Coin analysts cite the inverse proportion between supply and demand. Bitcoin is becoming increasingly popular and a reduction in the output of coins will lead to their deficit and increase in value.\nOf course, no one can 100% accuracy of certain predictions, but the general trend in the digital currency market indicates a strengthening of bitcoin. No alternative cryptocurrency can compete with Bitcoin yet.\n\nConclusion\n\nHalving is an important event for the entire crypto community. Its consequences are significant. They remind us of the end of bitcoin mining and the predictable, but the creation of a deficit of this cryptocurrency. Halving 2012 and 2016 led to an increase in the cost of bitcoin by 9 and 3 thousand percent, respectively, and all investors naturally expect at least a smaller (up to 1000%), but an increase in bitcoin in the price. The availability of technology to the ordinary user makes mining easier and more understandable. With the growth of the productivity of mining equipment, the profitability of mining as a passive investment and generating income in the new sector of the digital economy becomes urgent.",
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{
  "trx_id": "e3af702c89eddea2b4f254bbc3e430a683fb57a2",
  "block": 43762824,
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      "parent_author": "",
      "parent_permlink": "mining",
      "author": "ecos.eng",
      "permlink": "why-is-the-cost-of-electricity-so-important-for-mining-in-2020",
      "title": "Why is the cost of electricity so important for mining in 2020?",
      "body": "![1_duxhoU8VmzCUYME2jkI7jQ.jpeg](https://cdn.steemitimages.com/DQmXNghh35fkgef5y2umqak9vVXsMW5Cx67zzBp7yY9swMp/1_duxhoU8VmzCUYME2jkI7jQ.jpeg)\n\nToday, the cost of electricity is one of the most important indicators that determine the profitability of bitcoin mining along with the equipment capacity. Simply put, the cheaper the miner costs electricity today, the more profitable mining is.  \n\nIn part, it can be explained by a decrease in the efficiency growth rate of new ASIC miners generations, together with the consequences of the halving, as a result of which the reward for mining the block has been halved and now stands at 6.25 BTC.\n\nAt the emergence of ASIC mining, the equipment was actively improved. In fact, each new generation of devices was two or three times more effective than the previous one. This trend began to weaken only in 2017, when new miners preserve the advantages compared to devices of the previous generation, but the difference in their efficiency was not as radical as before.\n\nWhy is the reduction of mining costs gives an opportunity to get profits in 2020? The complexity of mining and competition is growing every year. And the cost of electricity is a key factor that can seriously affect the situation, because the main feature of BTC mining is that the algorithm does not depend on the cost of the coin.\n\nWhy is the reduction of mining costs gives an opportunity to get profits in 2020? The complexity of mining and competition is growing every year. And the cost of electricity is a key factor that can seriously affect the situation, because the main feature of BTC mining is that the algorithm does not depend on the cost of the coin. It contains the number of coins received by miners in the form of a reward for each mined block and, if you have good equipment and low operating costs, it means, firstly, that you will get more income, and secondly, that you can stay in the market longer and, therefore, claim a share that will be released after the moment when your less efficient competitors will disconnect the equipment. \n\nOne of the most efficient and profitable miners today is ASIC Antminer T17. This model appeared on the market at the end of 2019 and has already received recognition from miners. The 64 TH/s version is a bit inferior to the latest Antminer S17 Pro model. But T17 is not so cost-effective - 2750 watts with a power of 55 Th/s, so the cost of the “outlet” plays a key role in calculating its profitability.\n\nECOS is the operator of the free economic zone in Armenia and one of the largest official suppliers of mining equipment. Thanks to long-term relationships with leading manufacturers, we receive the most modern and efficient mining equipment primarily, which allows our customers get the maximum profit. \n\nThat is why ECOS mining relies not only on the modern equipment, but also reduces energy costs as much as possible. Our capacities is located on the territory of the Hrazdan power plant and we have the access to preferential energy tariffs (the company has reserved about 50 megawatts of electricity with the possibility of increasing the consumption to 200 megawatts).",
      "json_metadata": "{\"tags\":[\"mining\",\"crypto\",\"electricity\",\"bitcoin\",\"btc\"],\"image\":[\"https://cdn.steemitimages.com/DQmXNghh35fkgef5y2umqak9vVXsMW5Cx67zzBp7yY9swMp/1_duxhoU8VmzCUYME2jkI7jQ.jpeg\"],\"app\":\"steemit/0.2\",\"format\":\"markdown\"}"
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{
  "trx_id": "18ddfef7e918429ed8a8ebda11a247587bcef3c6",
  "block": 43708905,
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  "timestamp": "2020-05-26T16:38:21",
  "op": [
    "comment",
    {
      "parent_author": "",
      "parent_permlink": "investment",
      "author": "ecos.eng",
      "permlink": "mining-as-a-working-business-strategy-profitability-calculation-comparing-the-income-from-investment-and-deposits",
      "title": "Mining as a working business strategy: Profitability calculation comparing the income from investment and deposits.",
      "body": "![photo_2020-05-21_18-16-59.jpg](https://cdn.steemitimages.com/DQmUTDuREd93hBGRZBfYVok6hrNEQW3fc5Dc7oFLaf2DgML/photo_2020-05-21_18-16-59.jpg)\n\nBefore you start investing in a mining company, you should definitely understand the nature of the mining industry and the risk level related with the industry. Experiences in the industry regularly highs and lows.\n\nHigh interest in cryptocurrencies has streamed since 2015. That time bitcoin has shown its value rise from 300 usd per coin to a top of about 20000 usd per coin in December 2017, then it has dropped to 8000$ per coin in 2019. Many other cryptocurrencies have seen almost the same dips in value. As a concrete investor of course, you can make some capital in case the company operates its mine or if it is accomplished by another company. It much depends on economic conditions and how the whole project develops, always there is a danger that you can lose some or all of your assets. The research and activities to be achieved between opening a deposit and starting up mining processing. They really involve lots of real resources as time and cash.\n\nEven if the initial samples (the mineral occurrences) seem promising, a mining company has to conduct extensive assessment work to determine whether mining operations will be profitable. Several new deposits that are founded, just a minority of them would be actually mined. As a fairly simple buying on an exchange like Coinbase – it lets you to buy fractions of cryptocurrencies, some people who prefer to mine their coins. Of course, much depends on individual circumstances.\n\nIn some cases where profitability is shown, more than 10 years can pass between the initial discovery and the real start of mining operations.\n\nThe real structure of the Bitcoin mining game seems to prevent the emergence of a monopolistic mining activity. By the way, if the rate of return, for one of the players, were to become lower than the market interest rate, then a miner may find it convenient to stop mining and invest resources in alternative activities.  In the end, it is worth to specify that when only two miners remain active, while their marginal costs are not alike.  That`s it - one of them will certainly have more than 50% of the computational power. Bitcoin mining is the process of earning bitcoin in exchange for running the verification process to confirm its transactions, to provide security for the network, the price of it outruns the cost to mine.\n\nComparing mining branch with the other instruments of investing \n\nInvesting is an eternally relevant issue for those who want to increase their capital and secure a passive income. In the modern market there are many financial instruments that allow you to earn passively in the long run. Each of them has its own advantages and disadvantages. \n\nMining experts will talk about the pros and cons of the main financial instruments available to any investor, as well as the advantages of mining over them.\n\nBank deposits and savings accounts\n\nThe current inflation is not paid off by the interest rates of bank deposits and savings accounts. The maximum that the depositor will receive is a small amount of money, which will have practically no effect on the total income. You can open a deposit both in more reliable state banks and in commercial ones. At the same time, the interest rate in reliable financial institutions is usually lower, but the risks there are minimal. With commercial organizations, the situation is the opposite.\n\nAdvantages of bank deposits:\n\n• Risks are minimal;\n• Liquidity;\n• Small entry \n• Constant informing the contributor.\nCons of bank deposits:\n• Profitability - 7.67% per annum (according to data for 2019).\n• Low profitability, which practically does not pay off inflation;\n•% exception for early withdrawal of funds.\n\nThe property\n\nOne of the most reliable, but at the same time expensive ways to invest money is real estate. However, not every investor can afford to buy a house / apartment / land. Among the reasons why it is real estate that is considered to be the most profitable investment are the tendency to rise in price of objects, good liquidity, and passive income from renting out. This method of investment may be suitable only for those investors who have sufficient starting capital.\n\nAdvantages of real estate investment:\n\n• Profitable investment in almost any economic period;\n• rental income;\n• Reduced cost when acquiring an object at the construction stage.\nCons of real estate investment:\n• Profitability of 5-8% per annum when renting out as residential premises;\n• Profitability of 10-13% per annum upon delivery for commercial use;\n• Very high entry (requires a large starting amount);\n• There is a risk of stopping construction, which means delaying and lack of profit;\n• The abundance of scammers in the market.\n\nBusiness and Manufacturing\n\nToday, even an inexperienced investor can invest in business and production. However, in order for this type of investment to really bring you significant profit, you need to understand in detail the selected investment field.\nIf an investor is an expert who is aware of all the risks, calculates them, and also knows the market thoroughly, then a business or production may well become optimal areas for investment. However, otherwise, a novice investor should not risk so much, because 90% of businesses, according to statistics, are closed in the first year. Investing in business and production in modern realities has become much easier than before\n\nAdvantages of investing in a business:\n\n• Projects for every taste;\n• Participation without significant investments is possible;\n• Profitability varies greatly - on average 15-35% per annum.\nCons of business investment:\n• High risks of bankruptcy of the companies in which the funds were invested (especially for startups);\n• An investor needs to possess special knowledge, analytical thinking and instinct for a reasonable choice of a project for investment;\n• A large number of “bubbles” and dishonest partners.\n\nStocks\n\nNot so long ago, investment in the stock market was available only to wealthy investors. However, today they have become the prerogative of medium-sized investors. The investor can choose any industry for investment: from healthcare and IT to the consumer market. \n\nBenefits of investing in stocks:\n\n• Average accessibility;\n• A lot of reference and supporting materials;\n• A tax deduction is provided;\n• Moderate risks;\n• Average profitability - 20-25% per annum (with the right investment).\nCons investment in stocks:\n• There is a risk of losing investments in case of an unsuccessful deposit;\n• For significant income capital from 1 million rubles will be required.\n\nForeign exchange market (Forex)\n\nForex is a real roulette for sophisticated investors. However, experienced traders can rely on a fairly quick profit from initially large capital. Beginners should carefully study Forex trading strategies before starting to “conquer” this market. The main rule of the game in the Forex market is selectivity in determining the broker or dealer. Newcomers should first of all pay attention to proven companies that have long been in the market and have a positive reputation.\n\nAdvantages of investing in the foreign exchange market:\n\n• Low entry threshold (from $ 1);\n• Bargaining\n\nMining of cryptocurrencies\n\nIn spite of popular belief, this particular method of earning is one of the most profitable and carries fairly low risks, and entering pass way to this type of passive income is minimal.  One of the main advantages of investing in mining is a huge number of investment methods. Several types of mining are available to investors (both classic and cloud), and do not forget about the opportunity to purchase shares of enterprises working in the field of industrial mining.\n\nAdvantages of mining investments:\n\n• High profitability - 70% per year and even more;\n• The equipment has a residual value, there is always the opportunity to sell it\n• Entrance is possible with a small starting capital;\n• Passive income;\n• Quick payback on initial investments;\n• Hedging an exchange rate with options from cryptocurrency mined;\n• High profit with minimal risk.\n\nRecently the technology branch has changed a lot and many professional mining centers were created as well as the drifting price of bitcoin itself. Many of individual miners want an answer to the following question:\nWould be mining still profitable? \n\nThere are several factors that determine whether bitcoin mining is a profitable volunteer. These include the cost of the electricity to power the computer system, the connection and price of the computer power block, and the difficulty in providing the services. Difficulty is explained in the hashes per second of the Bitcoin validation transaction. The hash rate measures the rate of solving the problem—the difficulty changes as more miners enter because the network is designed to produce a certain level of bitcoins every ten minutes.  While more miners enter the market, the difficulty raises to make sure that the level is static. And finely, the last factor for determining profitability is the price of bitcoins as compared against standard fiat currency. \n\nMining Profitability as a separate finance digging strategy\n\nCrypto mining profitability is highly nuanced, it depends on a wide range of variables such as hardware, electricity costs, and the type of cryptocurrency you would like to mine.\n\nBitcoin is the most profitable coin to mine currently, although not if you’re an individual miner, in most cases. Bitcoin mining is extremely competitive, requires specialized hardware in the form of ASIC (Application Specific Integrated Circuit) rigs, and requires cheap electricity in order to make bigger earnings.\n\nBitcoin is primarily mined by large companies with millions of dollars invested in thousands of ASIC miners, cooling systems, and operate out of countries with competitive electricity rates. Mining cryptocurrency seems like a no-brainer. Set up a computer to help solve complex math puzzles and you are rewarded with a coin or a fraction of a coin. \nBy 2019, cryptocurrency mining has become a little more complicated and involved. With bitcoin, the reward is halved every four years, serious miners have built huge parades to mine, making it harder for smaller miners to compete. You can join a bitcoin mining pool to be more effective, but that comes with a fee, reducing your profits. \n\nOn top of building your rig, you also need to realize that you are going to be using quite a lot of power. If you have high power rates, you could end up spending quite a lot to mine coins—especially bitcoin. The electricity cost involved in mining a single bitcoin is more than $3,000 in the cheapest states of USA for example.\n\nA less powerful rig mining alternative currencies could save you money. Even so, it can take several weeks, or even more to compensate your original investment and become more productive.\n\nWhat is actually cloud mining?\n\nCloud Mining is the process of bitcoin mining utilizing a remote datacenter with shared processing power. Cloud mining implicates purchasing time on someone else’s rig. In the case you purchase a higher hash rate, you are expected to get more coins for what you pay for, but it will cost more.\n\nDepending on the company you choose, you might pay a monthly fee, or you might pay rendering to the hash rate. Many companies also charge a maintenance fee. In general, cloud miners that allow you access to bitcoin come at higher rates.\nAs it is, depending on what you mine, it can take several months before your cloud mining investment becomes profitable.\nHowever, at least with cloud mining, you don’t have to worry about power consumption costs and other direct costs related to doing all of the mining with your own gear.\n\nWhat to expect in the nearest 2021 year? Mining will live, with new projects emerging and old ones fading.\n\nAs a conclusion we need to tell - there are several different ways that Bitcoin mining can remain profitable after the block reward goes away — the above examples are but a few in a myriad of new chances. Anyway, since the block reward gradually reduces over time, rather than disappearing all at once, miners have the chance to gradually adapt and adjust to relying more on transaction fees than revenue from mined bitcoins. The most likely combination of factors that will keep miners afloat in the future is evolving mining technology and the steady increase in Bitcoin’s purchasing power. However, our visions of the future should not be limited by our imaginations. Being unable to imagine something does not render it impossible; the spontaneous evolving and shifting of the market economy reminds us of this fact every day.",
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      "parent_permlink": "cryptocurrencies",
      "author": "ecos.eng",
      "permlink": "the-top-10-most-popular-cryptocurrencies-of-early-2020",
      "title": "The top 10 most popular cryptocurrencies of early 2020",
      "body": "@@ -222,17 +222,16 @@\n  rating,\n- \n  their t\n@@ -562,16 +562,17 @@\n wcomers.\n+ \n %0A%0AOn ana\n@@ -984,16 +984,18 @@\n  2020?%0A%0A\n+%F0%9F%94%98\n BTC%0A%0ABit\n@@ -1278,20 +1278,21 @@\n 000 per \n-toke\n+1 coi\n n) and d\n@@ -1383,17 +1383,16 @@\n nessing.\n- \n %0A%0AToday,\n@@ -1670,17 +1670,17 @@\n ues of 8\n--\n+%E2%80%93\n 9 thousa\n@@ -1694,446 +1694,117 @@\n ars.\n- \n %0A%0A\n-Yes, 18 million coins of the total BTC issue (21 million) have already been mined, and the complexity of computing new bitcoins is more higher than ever, but the appearance of new high-performance mining equipment helped to alleviate the situation. The emergence of legal mining methods in those countries, where the legal status of cryptocurrencies is still not defined, has made the bitcoin mining profitable and popular again\n+The total BTC issue accounts for 21 million coins, and 18 million of them have already been mined\n . %0A%0A\n+%F0%9F%94%98\n ETH\n+ \n %0A%0ASi\n@@ -1908,17 +1908,17 @@\n ntracts \n--\n+%E2%80%94\n  a stric\n@@ -2140,17 +2140,17 @@\n  in 2017\n--\n+%E2%80%93\n 2018 wer\n@@ -2485,19 +2485,20 @@\n gorithm.\n- \n %0A%0A\n+%F0%9F%94%98\n XRP%0A%0ARip\n@@ -2504,16 +2504,15 @@\n pple\n-'s token\n+ (XPR) \n  is \n@@ -2917,19 +2917,247 @@\n l fees. \n+%0A%0AAnyway, Ripple cannot be called a full-fledged cryptocurrency - the XRP emission is controlled by the company of the same name, and most of the coins (61%25) are also holding by the corporation. This coin is not decentralized.\n  %0A%0A\n+%F0%9F%94%98\n Tether%0A%0A\n@@ -3167,48 +3167,137 @@\n her \n-is a stablecoin, which rate is pegged to\n+(USDT) is a crypto asset, which is built on the Bitcoin blockchain using the Omni Layer protocol. Each USDT block is supported by\n  the\n@@ -3306,16 +3306,89 @@\n S dollar\n+ (however, the coin can also be integrated with the Japanese yen or euro)\n . The co\n@@ -3464,17 +3464,17 @@\n  market \n--\n+%E2%80%94\n  it smoo\n@@ -3744,161 +3744,16 @@\n in. \n-Currently, Tether has a capitalization of more than $6.3 billion, which makes it firmly take the fourth place in the cryptocurrency TOP-10 rankings.\n %0A%0A\n+%F0%9F%94%98\n BCH\n+ \n %0A%0ABi\n@@ -3772,33 +3772,8 @@\n s a \n-cryptocurrency that is a \n fork\n@@ -3841,17 +3841,17 @@\n he world\n-'\n+%E2%80%99\n s first \n@@ -4076,18 +4076,17 @@\n roblems.\n-%0A%0A\n+ \n As a res\n@@ -4140,108 +4140,58 @@\n ne. \n+%0A%0A\n The \n-last common block for BTC and BCH has number 478558, after which the paths of the coins diverged\n+BCH fork occurred at the block number 478558\n . Si\n@@ -4270,18 +4270,19 @@\n ng, \n-but with a\n+and now its\n  cap\n@@ -4293,18 +4293,23 @@\n ization \n-of\n+exceeds\n  $4.5 bi\n@@ -4317,81 +4317,14 @@\n lion\n- it cannot even be considered as a real alternative to BTC, ETH or XRP.%0A%0A\n+. %0A%0A%F0%9F%94%98\n BSV%0A\n@@ -4491,9 +4491,9 @@\n stem\n-'\n+%E2%80%99\n s de\n@@ -4639,46 +4639,14 @@\n lars\n-, as well as the coin price - by 60.%0A%0A\n+. %0A%0A%F0%9F%94%98\n LTC%0A\n@@ -4684,39 +4684,11 @@\n coin\n-, but unlike many other coins i\n+. I\n t ha\n@@ -5184,37 +5184,29 @@\n y.%0A%0A\n-N\n+%F0%9F%94%98\n BN\n+B\n %0A%0AB\n-inance coin\n+NB\n  is the \n-toke\n+coi\n n of\n@@ -5241,16 +5241,26 @@\n exchange\n+ (Binance)\n , the ma\n@@ -5572,19 +5572,20 @@\n billion.\n- \n %0A%0A\n+%F0%9F%94%98\n EOS%0A%0AThi\n@@ -5938,19 +5938,20 @@\n es more!\n- \n %0A%0A\n+%F0%9F%94%98\n XTZ%0A%0ATod\n@@ -6158,17 +6158,16 @@\n  rating.\n- \n %0A%0ATezos \n@@ -6560,19 +6560,17 @@\n unt of 5\n- - \n+%E2%80%93\n 6 percen\n@@ -6620,21 +6620,9 @@\n ges.\n-%0A%0AConclusions\n+ \n %0A%0ABi\n@@ -6807,638 +6807,94 @@\n ng. \n-Stabilization of the coin rate at a comfortable level for mining has led to the return of many users to the Bitcoin network, and the development of mining hotels made cryptocurrency mining legal even in countries where the question of legalizing cryptocurrencies is still open. In addition, hotels offer beneficial electricity rates. Often mining hotels sign direct contracts with generating companies, which enable them to use a reserved amount of electricity. For example, 50 megawatts were allocated for ECOS mining project at Hrazdan power plant, with the possibility of increasing the electricity consumption up to 200 megawatt\n+Many market experts agree that BTC is the most reliable coin among other cryptocurrencie\n s.\n",
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      "body": "Thanks! Yep, sure ;)",
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      "body": "Dear @ecos.eng\n\nSolid read. It's clear that we're sharing similar interests towards blockchain technology and crypto.\n\nPerhaps you would like to check out this contest / challenge done by my good friend hardaeborla: [\"What is Bitcoin Halving ?\"](https://steemit.com/hive-175254/@hardaeborla/learn-and-earn-challenge-1).\n\nEnjoy your weekend,\nYours, Piotr",
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      "memo": "Dear @ecos.eng, I hope you don't mind this little memo. I would like to introduce you to new \"LEARN AND EARN\" initiative which I came up together with @hardaeborla. Check out my latest post and hopefully you will enjoy our new idea. Obviously I would appreciate every resteem and your feedback. I read all comments. Yours, Piotr // LINK: https://steemit.com/hive-175254/@crypto.piotr/learn-and-earn-our-project-hope-new-awesome-initiative"
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      "parent_permlink": "halving",
      "author": "ecos.eng",
      "permlink": "halving-has-happened-what-s-next",
      "title": "Halving has happened. What's next?",
      "body": "![photo_2020-05-11_13-27-45.jpg](https://cdn.steemitimages.com/DQmZTh14X614cUPCxsqf46iCV831wmLnYZAe3g6GZM8MUvr/photo_2020-05-11_13-27-45.jpg)\n\nOn May 11, at 19 hours 23 minutes ETC, another Bitcoin halving took place, as a result of which the reward for finding a new block was halved from 12.5 to 6.25 BTC. How did the market react to this event and what awaits the cryptocurrency community further?\n\nWhat effect from halving do we observe now? The BTC rate began to grow, and all other cryptocurrencies from the TOP-20 are in the green zone, but we hardly can call it a rapid growth. However, Bitcoin has almost returned to the pre-halving level of $10000 per coin.\n\nThere are other positive changes - the hashrate of the bitcoin network has begun to decline, as well as the percentage of the next expected level of the network complexity. But no one should be surprised, because miners who use the obsolete hardware, such as Antminer S9 (which still accounts for about 20 percent of the hashrate) have already started to leave the network. Nevertheless, the Bitcoin mining can still be profitable by using newer and more advanced devices, which we wrote about a couple of days ago. \n\nAccordingly, now we can already say that at least one of the catastrophic after-halving scenarios will not come true. There are no massive disconnections of mining equipment from the Bitcoin network, which means that there are no reasons for stagnation or a deep crisis.\n\nThere is an argument that Bitcoin will not skyrocket at the near future, even because the actual volume of Bitcoin trading is 50 times higher than 4 years ago at the time of the second halving. But on the other hand, it is obvious that miners will make every effort to push the bitcoin rate up in order to increase the profitability of mining. In 2016, this led to the bull rally, which lasted more than a year. \n\nAs for the other projections and exchange trends, judging by the Bitcoin behavior (and the entire market in general) in the first hours and days after the halving, it is still too early to talk about anything specific. Although it should be reminded, that most experts are tending to believe that the third Bitcoin halving can repeat the scenarios of the first two, and the price of the cryptocurrency will be several times higher than now, but most likely it will not happen quickly.",
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      "parent_author": "",
      "parent_permlink": "halving",
      "author": "ecos.eng",
      "permlink": "is-there-life-after-halving",
      "title": "Is there life after halving?",
      "body": "![photo_2020-05-11_13-29-46.jpg](https://cdn.steemitimages.com/DQmbEg7jJUEm89qLmVs9y3wEE3Lqi6DmyS1gFBrHigQkkfQ/photo_2020-05-11_13-29-46.jpg)\n\n\nBitcoin halving, which took place yesterday, remained the number-one trending topic of recent months! How will the rate of the №1 cryptocurrency change, what will happen with mining field, and who will benefit from halving the most?\n\n🔘How will halving affect mining?\n\nWe have already written about what will happen to the mining market after halving, but we will repeat it again: only those miners who use the most modern and efficient equipment will maintain profitability. \n\nThe cost of mining one bitcoin (the amount spent on electricity and depreciation for equipment) ranged from $4000 to $5000 in the last two weeks before the halving. This is a standard calculation method, in which the default electricity price is 5 cents per kilowatt. (for example, in the ECOS mining project). The cost price of bitcoin has doubled after the halving, while the rate of №1 cryptocurrency is now $8740, according to Bitstamp. However, do not forget that halving would also have a positive impact on the BTC rate, according to many experts. At the same time, due to the fact that miners, who use outdated equipment, will leave the network, the complexity of mining should also fall, which will also have a good effect on miners’ income. \n\n🔘How will halving affect the bitcoin price?\n\nThis question is on everyone's mind. Reducing the reward for each mined block artificially creates a shortage of BTC, which, according to many experts, should positively effect on its rate. In their assumptions, experts focus not only on common sense, but also on the experience of previous halvings.  \n\nSo, the first halving caused an increase in the Bitcoin exchange rate from $11 to $1100 per coin. The effect of the second was long-lasting: the bull rally lasted for more than a year and ended at around $20000 per one coin. Can we expect the repetition of the history? Many experts of the crypto community actively predict the rapid growth of the №1 cryptocurrency exchange rate and its capitalization, expecting the levels of $40000 - $50000 dollars for one bitcoin this summer. \n\nHowever, there are other factors, which may affect on the development of the situation after May, 12. So, in contrast to 2012 and 2016, the third bitcoin halving occurred on a bear market. And a sufficiently developed derivatives market, which simply did not exist a few years ago, could hurt the Bitcoin rate growth. Also, do not forget that 80% of all bitcoins were bought below the current rate and if the bitcoin exchange rate really starts to grow, we will  probably see a series of powerful cryptocurrency sales - investors will close long positions and take profits.\n\nWill Bitcoin continue its climbing after this? We will know this in a few weeks. \n\n🔘How will halving affect the rates of other cryptocurrencies?\n\nA decrease in the reward for each mined block traditionally affects not only the BTC rate, but also the rates of other cryptocurrencies. If the number of bitcoins generated in a certain period of time is reduced, and the cryptocurrency market capitalization grows, the demand for alternative digital currencies will inevitably grow. We are talking about reliable coins that have already earned their audience. The price of such altcoins will increase with the increasing demand. \n\nAnd again, if you look at the history of two previous halvings, you can notice that this event has always served as a catalyst for the growth of the entire cryptocurrency market and there are no signs that the situation will change in 2020.",
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      "title": "Halving is coming today!",
      "body": "![FB_post_1200x630pix_1105.png](https://cdn.steemitimages.com/DQmSwshPV8G8R1wz1fPaoFQwN64SZTTdSUpFrUoy5pgpWw9/FB_post_1200x630pix_1105.png)\n\nDo you remember the most important events that took place in the field of blockchain and cryptocurrencies since the previous one? We will tell you! \n\n☑️ Bitcoin skyrocketing\n\nThe previous bitcoin halving took place on July 9, 2016 - a little less than 4 years ago. It's hard to believe, but one BTC was worth $657.61 at that time. At the end of 2016, the value of the coin fluctuated around $1000, and on December 17, 2017 soared to more than $20 thousand, marking the beginning of a new era - the era of cryptocurrencies. Since then digital finance began to receive much more attention. By the way, experts call halving 2016 one of the main reasons for the incredible growth of Bitcoin.\n\n☑️ The launching of the largest cryptocurrency exchange\n\nYes, Binance did not exist 4 years ago, as well as its founder Changpeng Zhao was far from appearing on the cover of Forbes. Binance was launched in mid-2017, two weeks after the completion of the ICO, during which they managed to raise $15 million. In six months, Binance reached an average daily trading volume of $11 billion and became one of the leading companies in the field of blockchain and crypto. \n\n☑️ The emergence of Bitcoin Cash\n\nIn 2016, some cryptocurrencies from the Top 10 Coinmarketcap also didn’t exist! For example, Bitcoin Cash appeared as a result of a controversial hard fork, by breaking away from the main Bitcoin network in summer of 2017. This event served as a catalyst for the emergence of a large number of other bitcoin forks. Bitcoin Cash was not the first, but it definitely became the most important and memorable hard fork of the №1 cryptocurrency. \n\n☑️ The ICO boom\n\nAgainst the record prices of bitcoin and other cryptocurrencies, a new way of entering the crypto market - ICO, or “initial coin offering” started to gain momentum rapidly in 2017. The amount of funds raised during tokensales exceeded tens of billions of dollars by the spring of 2018. The EOS ICO remains the largest one to this day. The ICO was conducted over 11 months, during which more than $4 billion was raised. At the moment, EOS cryptocurrency is still in the top 10 of the CoinMarketCap rating. It should be reminded, that the ICO boom was also the time of emergence of a large number of scam projects. Only 14% of the companies, which conducted the initial coin offering, have created real products. \n\n☑️ A growth of the cryptocurrencies mining industry\n\nObviously, the cryptocurrency boom had also affected the bitcoin mining industry. In total, bitcoin miners earned $5.26 billion in 2018. In 2019 - $ 5 billion. Meanwhile, their income remains high - in April 2020, according to The Block analyst Larry Chermak, the profit was worth $412.5 million, which is 8% more than a month ago! It is obvious that today mining remains a profitable way to make money on cryptocurrencies, and can become even more profitable soon. According to some experts, the Bitcoin price can increase again, as it was after the Halvings of 2012 and 2016.",
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      "parent_permlink": "cryptocurrencies",
      "author": "ecos.eng",
      "permlink": "the-top-10-most-popular-cryptocurrencies-of-early-2020",
      "title": "The top 10 most popular cryptocurrencies of early 2020",
      "body": "![photo_2020-04-30_00-36-20.jpg](https://cdn.steemitimages.com/DQmVoweKnP382VxpjvyLV7eGARu8MEP7ikd983ftZajSJBf/photo_2020-04-30_00-36-20.jpg)\n\nThree years ago, about 800 cryptocurrencies were included in the Coinmarketcap rating,  their total amount reach the mark of 5000 to date. The most popular coins, which deserve the attention of the experts and investors are in the TOP, the ones that had fallen short of expectations inevitably drop out of the list. Since 2017, the crypto rating was under constant change, so now it has both old-timers and ambitious newcomers.\n\nOn analytical resources, such as Coinmarketcap, the principle of the ratings compilation is based on cost and capitalization of a coin. Digital assets from the TOP-10 do not need additional presentation, so these indicators are more likely a statement of a certain market position, evidence of reliability and availability of prospects. So what does the TOP 10 cryptocurrencies look like at the beginning of May 2020?\n\nBTC\n\nBitcoin is the absolute and permanent leader of the rating. Today it is still the most famous and most expensive cryptocurrency in the world. Over the 11 years of its existence, the coin managed to survive a period of rapid growth, which was marked by a maximum cost of BTC ($20,000 per token) and disappointment in this cryptocurrency, and a certain renaissance we are currently witnessing. \n\nToday, despite the existence of thousands of other digital assets, the very concept of cryptocurrency is still largely associated with Bitcoin. Its market share exceeds 60 percent, its capitalization is about 140 billion dollars, and its rate was able to fix on comfortable values of 8-9 thousand dollars. \n\nYes, 18 million coins of the total BTC issue (21 million) have already been mined, and the complexity of computing new bitcoins is more higher than ever, but the appearance of new high-performance mining equipment helped to alleviate the situation. The emergence of legal mining methods in those countries, where the legal status of cryptocurrencies is still not defined, has made the bitcoin mining profitable and popular again. \n\nETH\n\nSince its introduction in 2015, Ethereum has rapidly became popular due to the presence of smart contracts - a strict algorithm that monitors the implementation of the commitments. In addition, the Ethereum platform made it easy to create new digital tokens. This circumstance led to the fact that the majority of all ICOs launched in 2017-2018 were built on the Ethereum blockchain.\n\nToday, ETH is strongly positioned as a second cryptocurrency with a capitalization of $21 billion and good prospects for its further increase, since several important updates are scheduled for the Ethereum network in 2020, including the transition to ETH 2.0 and the Proof of Stake mining algorithm. \n\nXRP\n\nRipple's token is often criticized for its centralization, but this does not prevent the cryptocurrency from holding itself firmly in the TOP-3. What is the reason of it? The XPR coin was created to be used by the banking community as an alternative to the interbank transfer system SWIFT. Ripple product turned out to be quite competitive and popular due to the ability to conduct very fast transactions with minimal fees.  \n\nTether\n\nTether is a stablecoin, which rate is pegged to the US dollar. The coin solves one of the most acute problems of the entire cryptocurrency market - it smooths high volatility. With the help of stablecoins, it is much more convenient to put cryptocurrency into exchanges and withdraw fiat money from them.\n\nOf course, there are many similar coins besides Tether, but it is still the most popular and well-known stablecoin. Currently, Tether has a capitalization of more than $6.3 billion, which makes it firmly take the fourth place in the cryptocurrency TOP-10 rankings.\n\nBCH\n\nBitcoin Cash is a cryptocurrency that is a fork of Bitcoin, which was created in 2017, when the network of the world's first cryptocurrency was divided into two parts. The reason for this was the congestion of the main Bitcoin network and the refusal of some developers to accept the SegWit2x protocol, which was created to solve accumulated problems.\n\nAs a result, they got two cryptocurrencies instead of one. The last common block for BTC and BCH has number 478558, after which the paths of the coins diverged. Since then, Bitcoin cash has firmly entered the TOP 10 cryptocurrency rating, but with a capitalization of $4.5 billion it cannot even be considered as a real alternative to BTC, ETH or XRP.\n\nBSV\n\nBitcoin SV is a fork of Bitcoin cash, which was born due to the fact that some developers could not coordinate among themselves to identify further ways for system's development. As a result, BCH and BSV are direct competitors now. Moreover, BCH market capitalization is ahead of BSV by almost a billion dollars, as well as the coin price - by 60.\n\nLTC\n\nLitecoin is also a fork of bitcoin, but unlike many other coins it has an open code, which makes it possible for everyone to create new cryptocurrencies based on it. The coin was conceived as an alternative to an overloaded and slow bitcoin, which also had problems with scalability. The size of the litetcoin block is 4 times larger than the BTC’s one, the transaction confirmation speed is 4 times faster, the amount of issued coins is two times higher, but despite this, the capitalization of litecoin is 47 times lower comparing with the №1 cryptocurrency.\n\nNBN\n\nBinance coin is the token of the largest cryptocurrency exchange, the main purpose of which is to reduce transaction fees. It is noteworthy that the issuer regularly “burns” a part of the tokens, thereby pushing its rate to growth. NBN entered the TOP-10 cryptocurrency rating in 2019 and currently takes the 8th place with a token price of $16.5 and a capitalization of $ 2.5 billion. \n\nEOS\n\nThis cryptocurrency is considered to be the prime competitor of Ethereum. Its platform also supports smart contracts and provides the ability to create new tokens. Over the past few years, EOS has been consistently included in the TOP-10, but could not really get closer to ETH. EOS capitalization is 9 times less, whereas the price of ETH is 65 times more! \n\nXTZ\n\nToday, Tezos is a newcomer to the TOP-10, but if it continues to grow unabated (+ 1100 percent over the past 14 months), then it will be quite possible for it to reach the top 5, or even the top 3 of the rating. \n\nTezos raised $230 million during the ICO in 2017, the network was launched a year later. The main difference between XTZ and the majority of other cryptocurrencies is that the project works on the principle of Proof of Stake. Accordingly, the labor costs of mining new coins can not be compared to bitcoin mining. In addition, owners of large XTZ wallets can receive passive income in the amount of 5 - 6 percent from storing their tokens on large exchanges.\n\nConclusions\n\nBitcoin is still able to maintain a dominant position on the cryptocurrency market. It simply has no real competitors in popularity, capitalization, or in the volume of daily trading. Stabilization of the coin rate at a comfortable level for mining has led to the return of many users to the Bitcoin network, and the development of mining hotels made cryptocurrency mining legal even in countries where the question of legalizing cryptocurrencies is still open. In addition, hotels offer beneficial electricity rates. Often mining hotels sign direct contracts with generating companies, which enable them to use a reserved amount of electricity. For example, 50 megawatts were allocated for ECOS mining project at Hrazdan power plant, with the possibility of increasing the electricity consumption up to 200 megawatts.",
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      "body": "the PoW protocol involves a high computational power, but if we talk about consumption, other sectors such as banking should be seen, which since its evolution to the technological world its consumption skyrockets. Additionally, it is difficult to obtain for mining, the reduction by reward of mining mine will make many sectors of mining shut down their equipment, while others will benefit, as is the case of Venezuela ... what's more, it is likely that they will dust off those old miners and put them to work.",
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{
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      "parent_author": "",
      "parent_permlink": "mining",
      "author": "ecos.eng",
      "permlink": "interesting-facts-about-mining",
      "title": "Interesting facts about mining",
      "body": "![photo_2020-05-04_18-27-33.jpg](https://cdn.steemitimages.com/DQmR1atKhKmNWWkaBUNU9vWpLWP7aTVEGCTs11shojbgSie/photo_2020-05-04_18-27-33.jpg)\n\nOver the past 11 years, cryptocurrencies have managed to become a part of our everyday life, millions of people are keeping an eye on its rates and news. During this time, mining managed to turn into a separate industry, where billions of dollars revolve and with which many interesting facts are associated.\n\nMiner — Hegemon\n\nOver the past few years, China has held a leading position in the field of cryptocurrency mining. In total, mining farms located there provide up to 70 percent of the bitcoin network hashrate, which is a source of great concern to representatives of the crypto community due to the real threat of ending the era of decentralization of the №1 cryptocurrency.\n\nBitcoin requires a lot of energy\n\nCryptocurrency mining based on the Proof of Work algorithm generates a lot of energy consumption necessary to calculate each new block in the blockchain of each coin. Moreover, the volume of calculations necessary to continue mining increases with the increasing number of issued tokens. To date, the cost of electricity spent on Bitcoin mining amounts to several billion dollars. To make it clear what kind of load is involved, it is enough to say that bitcoin mining requires more energy than such countries as Serbia, Slovakia or Hungary consume annually.\n\nThe evolution of computational complexity\n\nAt the early days of cryptocurrency it was possible to successfully mine new coins even on home computers, but the power of central processors for these purposes was already insufficien by 2011. Therefore, for the next two years, mining was inextricably linked with gaming graphics cards — the ceiling of its computing capabilities was achieved by the end of 2013. The mass production of special mining equipment, called asics, which began in 2014 continues to this day.\n\nMining nationwide\n\nNo matter how hard the Venezuelan government tries to withstand the crisis, it has few reasons to be proud of. Hyperinflation has depreciated the national currency to the cost of the paper on which it is printed, the unemployment rate is breaking all records. Under such conditions, people who live in this country came up with their answer to general economic instability. Today, every fifth resident of Venezuela is related to cryptocurrency mining, and this is not surprising. No matter how volatile the Bitcoin or Ethereum exchange rate is, these coins are still several times more stable than Bolivar.\n\nA project is just as important as a place\n\nIndustrial mining-center ECOS is located in the free economic zone in Armenia, near the Hrazdan power plant. The siting is based on accurate calculations, which were fully justified afterwards.\n\nMining equipment is located in a specialized container equipped according to all modern standards, under stringent precautions. The use of modern cooling equipment can also reduce the cost of maintaining the optimal brick temperature conditions at the facility. Due to this, residents of the ECOS mining project are provided with very attractive conditions for connecting the equipment to electricity. In addition, ECOS containers are very mobile. This means that they can be supplied on order, if one of the company’s customers will want to build his own farm.",
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      "parent_permlink": "cryptocurrencies",
      "author": "ecos.eng",
      "permlink": "russia-and-azerbaijan-are-willing-to-create-national-digital-currencies",
      "title": "Russia and Azerbaijan are willing to create national digital currencies",
      "body": "![photo_2020-04-30_00-46-35.jpg](https://cdn.steemitimages.com/DQmWqdDZsCxvuH4x4NAtvWeakkas5uWfha5CTDbAw2fErew/photo_2020-04-30_00-46-35.jpg)\n\nThe governments of Russia and Azerbaijan have announced their intention to create their own digital currencies, which will be the most effective response to the coronavirus crisis, that has hit the economies of both countries. This was reported by Deputy Chairman of the Russian State Committee of Education and Science, Boris Chernyshov.\n\nAccording to the parliamentarian, crypto technologies are developing so incredibly fast, that ignoring this progress is short-sighted. In addition, Boris Chernyshov emphasized that China has already made great progress in developing a digital analogue of the yuan and creating a payment system based on this product. In relation to that, according to the deputy, the above-mentioned countries have no right to stay aside from cryptocurrency progress, since it could turn into a catastrophic lag on this innovative direction after a few years of neglecting this field.\n\nIt should be noted that this is not the first appeal by representatives of the Parliament both to the topic of the final determination of cryptocurrencies’ legal status in Russia, and the creation of a national cryptocurrency. Moreover, the bill on digital financial assets is already ready and submitted to the State Duma, but its consideration was postponed indefinitely in connection with the coronavirus pandemic. Nevertheless, deputies will return to this document after the end of the quarantine.\n\nThe understanding of the fact that the life of society will never be the same after the pandemic should also stimulate the formation of a relevant legal field and work on the establishment of the national cryptocurrency.\n\nThe maintenance of social distance measures will include, among other things, the development of contactless payment systems, the implementation of which is possible not only by using traditional banking instruments, but also cryptocurrencies and blockchain.\n\nThis collaborative project of Russia and Armenia, called ECOS, which has already managed to prove its profitability and promising nature, through measures such as government support, work in the free economic zone, tax incentives etc. can serve as a good example of the possible development of cooperation in this direction.\n\nIn fact, the crypto community has took the idea of creating national digital currencies of Russia and Azerbaijan with distrust, seeing a real threat to bitcoin and ethereum due to the appearance of new powerful levers of influence and control on the market. However, the fact that governments start to pay attention to cryptocurrencies and blockchain is satisfying. This allows us to say that the global financial system is on the threshold of serious changes, for which we have already prepared!",
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      "permlink": "cryptocurrency-business-strategies-for-beginners",
      "title": "Cryptocurrency Business Strategies for Beginners",
      "body": "![photo_2020-04-28_12-15-38.jpg](https://cdn.steemitimages.com/DQmcF6QFgTcM8qrCyftLvxM23qNKy9VU5wr4PcffQLbHonN/photo_2020-04-28_12-15-38.jpg)\n\nInvestment experts have took the very same view that cryptocurrency investments are the most highly profitable, although the most risky ones. Such a tool can provide very high profit (100% and more), while real estate investments generate just a 10% average return, bank deposits - 7%, the stock market - 20%, investments in real business - about 10-50%. At the same time, for all-time existence of Bitcoin, the total return of the coin generated to 132.5 million percent! Let's take a look at the three main cryptocurrency strategies for beginners.\n\n🔘 Average points of entry.\n\nYes, it is not always possible to buy cryptocurrency at the lowest price, but you can always average the entry point! It is quite simple to do that: you must divide the amount of your future crypto investments into several parts and buy cryptocurrency gradually. You can determine the procurement interval by yourself. Bearing in mind that the rate is constantly changing, you will get coins at the average rate if you’d buy it in several phases.\n\nThat’s how it works: let's just say you have 1000 USD and you want to buy Bitcoins. Let’s split the money into 5 parts:\n\nFirst purchase: 1 BTC = 7000 USD, we buy with 200 USD;\nSecond purchase: 1 BTC = 8000 USD, we buy with 200 USD;\nThird purchase: 1 BTC = 6500 USD, we buy with 200 USD;\nFourth purchase: 1 BTC = 8500 USD, we buy with 200 USD;\nFifth purchase: 1 BTC = 6000 USD, we buy with 200 USD.\nIt turns out that the average Bitcoin rate of the procurement is 7,200 USD.\n\nAnother recommendation: if you have any free funds that you want to invest in cryptocurrency, keep some of them in fiat in case of strong depreciation - so you will have the opportunity to buy coins as profitably as possible!\n\n🔘Portfolio diversification.\n\nThe classic strategy, the gist of which is to diversify risks and to divide the portfolio into several assets. Since we are talking about cryptocurrency, it involves the purchase of not only BTC, but also altcoins. At the same time, it is better to invest about 50% of all funds in Bitcoin, since it is the most famous and reliable cryptocurrency. The remaining funds can be distributed between alternative coins from the TOP-10.\n\nLet us take a simple example: let’s say we have $1000, but we invest only 50% of the amount in BTC, and divide the remaining $500 between ETH, XRP, LTC and DASH. If we think that by 2022 the exchange rates will return to their historical maximum (the rate of early 2018), we would receive hundreds of percentage profit! \n\nAt the same time, the profit from of altcoins will be higher than from Bitcoin, but we do not recommend to invest in such coins only. It must be the most dangerous option, since a lot of investors have lost money on it. \n\n🔘Increase of crypto savings.\n\nThis strategy is the most advantageous, because it allows not only to receive the income from cryptocurrency, but also to increase its amount. For example, such an effect can be obtained by investing in mining. Receiving income in cryptocurrency, the holder of mining capacities constantly increases the number of BTC on his account, and also receives additional profit with the growth of the coin rate.\n\nOf course, you can also use investment platforms or trading to earn BTC, but you need to have special knowledge to predict exchange rate fluctuations. But mining does not require either your personal attendance or specialized knowledge. For example, you can not only receive Bitcoins on your wallet  by purchasing equipment in ECOS and co-locating it on a legal hosting in mountains of Armenia, but you can also get income from the growth of the rate, constantly replenishing your cryptocurrency reserves!",
      "json_metadata": "{\"tags\":[\"cryptocurrencies\",\"bitcoin\",\"investments\",\"mining\",\"halving\"],\"image\":[\"https://cdn.steemitimages.com/DQmcF6QFgTcM8qrCyftLvxM23qNKy9VU5wr4PcffQLbHonN/photo_2020-04-28_12-15-38.jpg\"],\"app\":\"steemit/0.2\",\"format\":\"markdown\"}"
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{
  "trx_id": "870fe8ed2437ae43831a2df5becd8b839871f817",
  "block": 42804006,
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  "timestamp": "2020-04-24T12:46:54",
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      "parent_author": "",
      "parent_permlink": "halving",
      "author": "ecos.eng",
      "permlink": "bitcoin-halving-2020-what-to-expect",
      "title": "Bitcoin halving 2020: what to expect?",
      "body": "![photo_2020-04-24_12-41-11.jpg](https://cdn.steemitimages.com/DQmbtqmJEoh7Qd3MF8ngNoiTTGwXXEeYEFYZ5Te9XvsfcrZ/photo_2020-04-24_12-41-11.jpg)\n\nThere is less time left before the third halving of the most famous cryptocurrency, and all analysts and experts are sure that the cryptocurrency market will change and will not be the same after the halving. But how is it going to be? We’ve tried to answer this question by analyzing the last halving of 2016 and its consequences for the crypto community.\n\nIt should be noted that halving 2020 will be the third in the history of cryptocurrency №1. The first one took place in 2012, the second - in 2016. Until 2012, miners received 50 BTC for each mined block, and the complexity of mining was so low, so it was even possible to mine cryptocurrency on a regular computer. Eight years ago, a reward for one block decreased for the first time and dropped to 25 BTC. After halving in 2016, the remuneration decreased to 12.5 BTC. What are the consequences of this?\n\nIn 2016, the BTC price hovered around $600 per coin. On the day of the last halving - July 9, 2016, 1 Bitcoin was worth $665. Right after the halving, the value of the cryptocurrency has dropped “down” immediately, but by September 2016 the price went up, and reached a historic maximum of 20,000 USD per coin 15 months later.\n\nHow could halving contribute to such an increase in value? In fact, it is very simple - Bitcoin is a decentralized cryptocurrency, which means that its price is regulated by supply and demand only. Historically, halving leads to reduction in the number of miners and has a positive effect on the price of BTC in the long term. If the number of miners gets smaller (and those who use outdated equipment are forced to leave the market, since cryptocurrency mining becomes unprofitable for them), then the supply is reduced, therefore, the price goes up. \n\nBy the way, the same conclusion is confirmed by the results of the CoinDesk research. Their experts have analyzed the two previous bitcoin halvings:\n· 1st halving (11/28/2012): the price reached its lowest level 378 days before the event, then increased by 510%\n· 2nd halving (07/09/2016): the price reached the bottom 539 days before the event, then increased by 309%\n\nThey also predict a new peak in the cost of Bitcoin. They suggest that the coin will reach it after the halving 2020. In their view, the cryptocurrency will start to go up in value immediately, but would move gradually, during several months.\n\nToday, some experts compare bitcoin with gold, saying that the coin is underestimated. Moreover, Bitcoins can be freely and, most importantly, privately used and transferred between users, which makes it even more profitable and attractive.\n\nBy the way, halving 2020 is not the last in the history of mining. The next price reduction will occur, approximately, in 2024 (the block price will decrease to 3.125 BTC), and then - in 2028, when the block price will drop to 1.56 BTC. The latest halving will take place in 2138, 2 years before the last bitcoin will be mined, and after that the miners’ reward will amount to 0.000000005820766091 BTC per block. Even if bitcoin will cost $1,000,000,000, the reward will not be as big as today, because by that time, the commission for transactions will be the main source of income for miners.\n\nToday, a couple of weeks before halving 2020, mining still remains one of the simplest and most profitable means of generating Bitcoin, especially when it comes to mining on modern highly profitable equipment offered by ECOS. Mining can become even more profitable after halving, as experts say, because it’s likely to lead to a decrease in the complexity of mining and an increase in the value of the coin.",
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  "block": 42722331,
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  "timestamp": "2020-04-21T14:48:33",
  "op": [
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      "parent_author": "",
      "parent_permlink": "mining",
      "author": "ecos.eng",
      "permlink": "overview-of-mining-hardware-2020",
      "title": "Overview of mining hardware 2020",
      "body": "![photo_2020-04-20_19-54-59.jpg](https://cdn.steemitimages.com/DQmby4e6NsXRxbjZMNJbTTtaaQ3c8Cvf2PZF55HewHfD4mq/photo_2020-04-20_19-54-59.jpg)\n\nIn 2020, mining is not dead despite the predictions of traders and analysts. The price of BTC and other cryptocurrencies is not holding on a high level, which is why many players, who used old equipment, left the market. Today, mining still generates income, but it all depends on what to mine and how to mine. In this text we will talk about the mining equipment, which you can use in 2020.\n\nMining on video cards.\n\nWe will probably start with the simplest solution — GPU farms (farms on ordinary computer video cards). It is still a very popular tool for mining all cryptocurrencies except Bitcoin. Today, one of the most attractive coins for home mining is Ethereum. The dag file has grown significantly, weak video cards with 2–3 gigabytes of memory are no longer suitable, and therefore a significant part of the miners who were using the GTX 1060 and similar cards dropped out of the game, having switched to other cryptocurrencies, and probably ether mining is still relevant only because of this.\n\nYou’d think the more powerful the video card — the better it is, but in fact this is not always true. For example, the farms on RTX2080 Ti or Radeon VII can bring about one dollar a day, excluding the cost of electricity. A farm of eight cards will bring eight dollars, but such cards cost from $1000 for RTX and a little less for Radeon. The payback period of such hardware will last for about a two years, but if Ethereum price will grow up, video cards would pay off faster.\n\nBitmain Antminer S9\n\nThese models are very popular — Bitmain Antminer S9 account for as much as 80% of the mining market today. It is a simple device, which can bring up to two dollars a day (excluding the costs of electricity). But if you calculate the electricity expenses, you’ll see that such ASIC will not pay off. Why are they still popular? Because they are very cheap. You can consider this option if you have access to free electricity, but it’s clear that Bitmain Antminer S9 is still not for everyone.\n\nBitmain Antminer S17\n\nNewer models such as the Bitmain Antminer S17 Pro are much more interesting than the above-described. A model with 76 terahash can generate up to two dollars a day. But if you have access to free or low-cost electricity, you’ll be able to receive up to nine dollars per day from one device.\n\nBitmain Antminer S19\n\nBitmain Antminer S19 brings more profit. Net income of such a device (model on 110 terahash) is about 13–15 dollars per day, excluding the cost of electricity. You can buy S19 on the ECOS website at a price of $2906. It was announced only at the end of March, but ECOS made it available for pre-order now!\n\nBitmain Antminer T17\n\nFinally, another option from Antminer — T17 — a relatively recent model, which was announced at the end of 2019. T17 is a couple of dollars less profitable, comparing to Antminer S17 Pro model, but the it costs by 20% cheaper. What about the shortcomings? T17 is less energy-efficient, so it’s not a good idea to put a device in the garage — with a high cost of electricity the profitability will fluctuate about zero. But if you have access to free or low-cost electricity, you’ll be able to receive up to 6–7 dollars per day.\n\nMining is still relevant, but you need to have access to cheap electricity and use high-quality equipment to get a good income. To increase the profitability, you can use the services of the ECOS mining company, which uses modern equipment and minimizes mining costs by placing a farm at the Hrazdan power plant, where about 50 megawatts of electricity with the possibility of increasing consumption up to 200 megawatts are reserved for the need of the company.",
      "json_metadata": "{\"tags\":[\"mining\",\"bitcoinmining\",\"bitcoin\",\"crypto\",\"cryptocurrencies\"],\"image\":[\"https://cdn.steemitimages.com/DQmby4e6NsXRxbjZMNJbTTtaaQ3c8Cvf2PZF55HewHfD4mq/photo_2020-04-20_19-54-59.jpg\"],\"app\":\"steemit/0.2\",\"format\":\"markdown\"}"
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  "timestamp": "2020-04-18T02:32:18",
  "op": [
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      "memo": "Did you know you can buy silver and gold directly using steem?  Checkout https://peertopeerbullion.com.  More products being added daily.  @p2pbullion"
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{
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  "block": 42582703,
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  "timestamp": "2020-04-16T14:57:57",
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{
  "trx_id": "57e8a1b06e49da4d2fbab9ef65f2919079573113",
  "block": 42582077,
  "trx_in_block": 6,
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  "timestamp": "2020-04-16T14:25:30",
  "op": [
    "comment",
    {
      "parent_author": "",
      "parent_permlink": "mining",
      "author": "ecos.eng",
      "permlink": "how-much-can-you-earn-on-mining-the-real-life-success-stories",
      "title": "How much can you earn on mining? The real-life success stories.",
      "body": "![photo_2020-04-16_13-39-12.jpg](https://cdn.steemitimages.com/DQmYGVUTFbKPVPn41fCnVUWew9sxpELMy7ZRL3QduXszWN6/photo_2020-04-16_13-39-12.jpg)\n\nThe popularity of cryptocurrencies is constantly growing. And with each passing day, the number of those, who start to use bitcoin, and other cryptocurrencies along with classic financial instruments is increasing. Many of them earned millions on right investments. So what about mining? Are cryptocurrencies able to make a person really rich?\n\nWhen cryptocurrency mining was an easy and accessible business, people treated it as some kind of obscure game. Over time, it became clear that you can make good money on mining, except for the cost of the entering to this business has increased along with the growing computational complexity. The requirements for mining equipment became more and more stringent, but that did not stop crypto enthusiasts. History has witnessed many examples when people sold their properties and business and invested everything that they had in cryptocurrency farms. Was it worth it? Sure!\n\nWhat was the key to success of mining? Only two things: trust in the viability and promise of cryptocurrencies and the existence of a certain financial courage to invest in a fundamentally new innovative project. These qualities are common to young people, so it is not surprising, that there are so many mining millionaires who have not even reached 30 years.\nFor example, Erik Finman became a dollar millionaire when he was not even 20 years old. As a student, he was able to appreciate all the advantages of bitcoin mining, invested money in his farm and it paid off, confirming that he knows how to deal with promising financial instruments.\n\nJered Kenna invested $ 258 in Bitcoin mining, when the coin was worth 20 cents. A few years later, he decided to sell bitcoins and received more than $ 30 million for them.\n\nYifu Guo started mining bitcoin while he was studying at New York University. A little later, when it became clear that cryptocurrency mining is a popular trend, he created a company, which offered its customers ready-made bitcoin miners. By that time, Guo’s income amounted to $ 5 million directly from mining!\n\nFitz Hall also earned his first million on Bitcoin mining, and, in he did it within his first year of mining. Aссourding to him, when he started to mine he was renting a small apartment with several friends from college. Today, Hall is a successful businessman and investor.\n\nEliza Dadiani is one of the few young women who have earned a lot of money on cryptocurrency mining. After the formation of the initial capital, she opened an art gallery, which began to accept bitcoins as payment for works of art, which allowed Eliza to increase her fortune soon.\n\nHowever, you should not think that the time of making money on mining has gone. Yes, the computational complexity has grown significantly compared to 2010. Nobody using video cards or farms assembled from them for mining digital coins anymore. A couple of years ago, it seemed that mining business brings money only for those who monopolized the market. However, the situation turned around 180 degrees then. The appearance and active development of cloud mining platforms and mining hotels made cryptocurrency mining economically feasible for everyone!\n\nThe economic crisis, caused by price wars, falling oil prices and the coronavirus pandemic, has recovered the investors’ interest in cryptocurrencies, so that the bitcoin exchange rate has gone up. As a result, today the main cryptocurrency exchange rate is keeping at comfortable for mining level of 6–7 thousand dollars per coin, and new equipment and technologies have made mining more convenient and rational, saving crypto enthusiasts from the need to keep constantly working and quite noisy equipment at home.\n\nIn addition, mining hotels have completely taken up the issue of a reliable connection to energy networks. Being large consumers, they very often have certain preferences with generating companies and can offer favorable connection tariffs to its users. In order to make it clear what capacities are involved, it’s enough to say that for the ECOS mining project at the Hrazdan heat and power plant, about 50 megawatts of electricity are reserved with the possibility of increasing consumption to 200 megawatts.",
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