Meet Coinmine – a new cryptocurrency mining device that is aimed at the hobbyist market and is perfect for giving users the option to be paid in Bitcoin. According to the latest cryptocurrency news, this device was aimed at the hobbyist market and is a real breakthrough for many users.
Designed to mine Monero (XMR), Zcash (ZEC), Grin and Ethereum (ETH) at launch, this crypto miner had a low enough difficulty threshold to allow for the average miners to see a minimal return. The recent addition of Bitcoin payouts, however, made Coinmine a lot more popular and gave miners a great incentive to try the $799 ($699 with a special Bitcoin discount) product.
The founder of Coinmine, Farbood Nivi, was featured on many best cryptocurrency news sites for his statement which said:
“To get you the most bitcoin possible from your Coinmine One, we had to engineer MineOS to automatically mine whatever crypto converts to bitcoin at the highest rate and then exchange it to Bitcoin for you and put it in your wallet. This way you’re getting way more Bitcoin than if the device was mining Bitcoin directly.”
The Coinmine box, however, is not designed to make quick millionaires. According to Nivi, it is a testbed and experimental product for those who want to dip a toe in the mining process. Given its strict resource requirements of high stake mining, it offers a less energy intensive option.
“At today’s numbers, your Coinmine One will generate about $15-20/month of bitcoin in USD prices,” said Nivi. “Of course, that number changes based on the future value of Bitcoin. If the value of Bitcoin appreciates, so will the value of what you made with your Coinmine One.”
According to Nivi, Coinmine is also a cheaper and faster way to take part in networks like Lighting. For this, he was featured in the altcoin news several times.
“The time to build and maintain a comparable device with mining and a Bitcoin Lighting Node is about $400 if your time is worth $20/hour and it takes you 20 hours to research and build the hardware and software,” he said. “The parts for a miner and a Bitcoin Lightning Node could cost you $500 easily. That’s $900, and you still would have to control your DIY device from a command line with a monitor and keyboard instead of an app you can just tap on.”
Coinmine will be rolling its BTC update today and users will be able to mine but also “put their crypto into work” as Nivi noted.
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"The illegal fundraise accusation is wrong. Tron complied with regulators and refunded investors on Sept. 20 in 2017, immediately after the order [of a ban on initial coin offerings] from seven ministries in China," he said (translated).The Tron price tumbles as we speak, again proving that everything can affect the price of crypto and again showing volatility just like the other coins in the latest cryptocurrency news. Currently, TRX sits at $0.024 with a 16% loss on the day.
Five Cannabis Infused Cryptocurrencies To Invest In This Year
DopeCoin Gold (DOPE)DopeCoin Gold has been featured in the coming altcoin news many times - as a blockchain and cryptocurrency which aims to 'provide marijuana enthusiasts with a modern and secure way of doing business for the 21st century’. Created on Bitcointalk, DopeCoin Gold (DOPE) was first launched in early 2014. The creator of this altcoin also founded CryptoBillings which is a payment processing application for vendors interested in accepting crypto. You can purchase DopeCoin Gold as one of the five cannabis infused cryptocurrencies on markets such as Bittrex.
HempCoin (THC)HempCoin launched in 2014 and just like DopeCoin, aims at revolutionizing the cannabis industry by providing a trusted network currency. As the website behind this project notes: “HempCoin is on a mission to achieve mass adoption in the agriculture sector by offering solutions that tackle the issues plaguing cross-border transactions. We aim to offer solutions for the lack of banking and payment services for industrial hemp and legal cannabis businesses.” You can buy HempCoin (THC) on Bittrex.
PotCoin (POT)PotCoin also launched in 2014 and quickly made a name for itself - becoming one of the frontrunners in the cannabis crypto industry. This is why it is in our list of five cannabis cryptocurrencies to watch out for. From its website: “PotCoin provides an underserved legal cannabis industry with a decentralized infrastructure and payment solution. Using PotCoins, industry participants can realize significant cost savings, scalability, and unparalleled enterprise security.” PotCoin can be used to buy weed paraphernalia in different online headshops. The website also advertises a unique Shopify store. Staking rewards are also present on the POT blockchain.
CannabisCoin (CANN)CannabisCoin (CANN) deserves to be in the five cannabis infused cryptocurrencies to watch out for. Even though it was originally planned to produce its own medical-grade marijuana products (priced at 1 gram of weed at 1 CANN coin) the cryptocurrency was also self-titled as 'The Marijuana Bitcoin'.
Paragon (PRG)Paragon is also featured in our altcoin news as one of the five cannabis cryptocurrencies. It launched in 2017 with a main goal of: “…building the next generation of seed-to-sale tracking software based on blockchain, while offering cannabis entrepreneurs a high tech co-working environment.” However, its plans got derailed when the SEC came down hard on the project for violating the rules regarding the issuance of security tokens. The CEO of Paragon, Jessica VerSteeg, is a former Miss Iowa winner. She was in the news for framing the SEC ruling as a positive for Paragon at the time, stating: “Paragon is proud that the PRG token is included in today’s action by the SEC and are thereby being granted the opportunity to avail itself of this groundbreaking path forward while continuing to pioneer efforts and to participate in the ever evolving ICO marketplace.”
Tim Draper Believes Crypto And Libra Are Bridges To A Bitcoin World
“I think all these other cryptos are bridges to where we have a Bitcoin environment,” he said.Appearing in the unique trademark Bitcoin tie, Tim Draper believes that US regulators were too heavy-handed dealing with innovations like Bitcoin, blockchain and related fields - which is what he told CNBC. He did not say anything about other altcoins which might have been featured in our altcoin news section. When it comes to Libra, he said that there was no need to demand regulatory assurances before the product had even launched.
“We’re putting regulation before the innovation — Facebook’s just announced Libra; they haven’t even been able to ship it yet, and the regulators are all over them,” he continued.Currently, many best cryptocurrency news sites explore the link between Libra and Bitcoin. At press time, Bitcoin looks stable and is trading more predictably after a turbulent week which saw a lot of price swings as the Congress debated a cryptocurrency policy. Tim Draper believes that there is lack of Bitcoin support against government. He is in a lot of interviews recently, talking about being a Bitcoin bull, his investments in the crypto space as well as his outlook on the future of the crypto space.
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