Bitmain is clearly intent on introducing a lot more ASIC miners in quick succession. Their latest unit is the Antminer Z9 mini, which is primarily designed to mine cryptocurrencies relying on the Equihash algorithm. Although none of those currencies are even remotely popular, it seems there may still be some interest in this mining unit.
THE PURPOSE OF THE ANTMINER Z9 MINI
One has to commend Bitmain from suddenly releasing so many different ASIC miners. It seems the company has been working on ASIC chips for specific mining algorithms, including CryptoNight, Equihash, and a few others. This begs the question as to how long the Chinese firm has been “secretly” mining these cryptocurrencies and driving up the prices accordingly.
Even so, the release of the Antminer Z9 mini comes at a rather interesting time. For those unaware, there are a few cryptocurrencies which make use of this particular algorithm, although none of them will be on most speculators’ short lists right now. That doesn’t mean there isn’t a market for such currencies, but releasing a dedicated ASIC miner for them seems a bit odd. That is, unless Bitmain acknowledges that mining those coins with their own hardware is no longer profitable enough to keep going.
It remains to be seen how many people will actually order this mining unit, which
Unsurprisingly, Bitmain has no plans of accepting payments through Equihash currencies for this mining unit. Instead, they’ll stick with the same traditional options, such as Bitcoin, Litecoin, and Bitcoin Cash. Whether or not anyone will even purchase this unit remains to be seen, as none of the Equihash coins have gained much traction. It is another somewhat odd decision by Bitmain, although we will have to wait and see how things play out.
It is evident a lot of things are changing in the world of cryptocurrency right now. Bitmain seemingly has a finger in every pie, which means the company may be responsible for controlling most hashrates of individual currencies on the market today. Anything that is not an ERC20 token or non-mineable asset is potentially subject to Bitmain’s interference in one way or another. That is not a positive thought by any means.
Crypto News Roundup and Interviews for Jan. 23, 2020
In addition to our news roundup, for the next few episodes we’ll also be highlighting select interviews from the CoinDesk crew reporting inside the world economic forum in Davos, Switzerland. Today we’ll hear from former CFTC Chair Christopher Giancarlo on his proposed Digital Dollar push. We’ll end the show by taking a walk with a modern cypherpunk and senior reporter Leigh Cuen.
- Bitcoin finally breaking out of a range where it’s held over the past week, but it’s bad news for the bulls
- During an 18-hour deposition, Telegram CEO Pavel Durov pushed back against a U.S. Securities and Exchange Commission
- In a separate case tying together two recent scandals, former QuadrigaCX users want information about the recently indicted ‘Shadow Bank’ Crypto Capital
- US Exchange Gemini completes accounting firm Deloitte’s
- In Virginia, a lawmaker is pushing the state government to study how blockchain might be used to secure elections and how it might impact the economy moving forward.
- In Nevada, a former beauty queen turned bitcoin-friendly entrepreneur is running as a Republican for a U.S. congressional seat
- Amun, a Swiss digital-asset issuer has launched a new vehicle for traders who want to bet on a drop in bitcoin’s price
- In Tokyo, two men have been accused of stealing 78 million yen (roughly $712,000) from blockchain project VIPSTAR
- GreekReporter.com said Thursday that Greece’s Council of State approved Alexander Vinnik’s extradition to France where he will face charges of money laundering.
- Ex-CFTC Chair Christopher Giancarlo on why he launched Digital Dollar Project
- Why is a Cypherphunk in Davos?
Law Firm Representing Quadriga’s Ex-Users Want Info About ‘Shadow Bank’ Crypto Capital
Miller Thomson, the court-appointed legal counsel for former users of the QuadrigaCX cryptocurrency exchange, is asking for help identifying any records related to Crypto Capital, which may be holding some of the exchange’s funds.
In a letter emailed to the exchange’s former customers and posted to its website, Miller Thomson wrote that Crypto Capital Corp., a “shadow bank” registered in Panama, “may have been a payment processor” for the exchange and is asking any customers who have emails or other documents which might be related to Crypto Capital to forward the communications to the legal firm.
“Representative Counsel has been investigating, since its appointment, whether any Quadriga funds were potentially retained by Crypto Capital,” Wednesday’s letter said.
An archived snapshot of Crypto Capital’s website lists QuadrigaCX as a client.
The letter referenced the ongoing court case between the U.S. Department of Justice and Crypto Capital, noting that the shadow bank’s operators are currently under indictment. Reginald Fowler, one of the alleged operators of the company, is in court
Fowler intended to plead guilty to one charge of operating an unlicensed money transmitter, but negotiations between his attorneys and the prosecutors have yet to be concluded. He is now scheduled to appear in a New York courthouse in late April.
Wednesday’s letter also referenced the fact that Bitfinex, another crypto exchange, has claimed to be defrauded by Crypto Capital and is seeking information and rights to seized assets in the shadow bank’s possession in the U.S., Portugal and the U.K., three jurisdictions which have reportedly frozen Crypto Capital’s assets.
“As you are aware, Ernst & Young Inc. (the ‘Trustee’) has been unable to locate QuadrigaCX’s basic corporate records or accounting records. As a result, Representative Counsel is asking Affected Users for assistance on this matter to uncover whether Crypto Capital held Quadriga funds,” the letter said.
TOP 3 Price Prediction: BTC, ETH, XRP — Uncertainty in Market Continues
TOP 3 Price Prediction: BTC, ETH, XRP — Uncertainty in Market Continues
The cryptocurrency market has partially restored its position. Meanwhile, the altcoin market today is mixed. Some of the top 10 coins are located in the green zone, while others are in the red.
The key data below for Bitcoin (BTC), Ethereum (ETH), and XRP indicate what’s to come.
|Name||Ticker||Market Cap||Price||Volume (24h)||Change (24h)|
|Bitcoin||BTC||$157 602 979 990||$8 671,44||$24 584 873 246||0,23%|
|Ethereum||ETH||$18 419 910 476||$168,40||$9 910 073 669||0,11%|
|XRP||XRP||$10 305 414 349||$0,235952||$1 623 122 240||-0,19%|
The technical picture of Bitcoin (BTC) has not changed much since Monday. For a moment, there was an attempt to break the $8,550 level.
However, the downward movement under pressure from the bears fit into the framework of the current volatility and it was bought back quickly enough.MUST READBitcoin (BTC) Price Skyrocketed to $14,000 Last Time This Indicator Turned Green –
Over the past three days, local consolidation has formed. All in all, the strategy does not change, since for a longer time period, the trend has persisted and the line of least resistance is still directing upwards.
Bitcoin is trading at $8,649 at press time.
Ethereum (ETH) quotes remain trading
On the hourly chart, the chief altcoin is likely to decline in the short-term. The line of the RSI indicator is going down, confirming the ongoing dominance of buyers. Regarding the nearest price forecast, traders might expect the coin to be located at around the $165.50 level.
Ethereum is trading at $166.96 at press time.
XRP is trading without significant changes. After a rebound from the support level, quotes have remained sideways.
Even though XRP has continued a sideways trading trend for a few days, it will face a decline shortly. The rate of the coin has decreased by almost 2% over the last day. What is more, the MACD indicator has just switched to a bearish trend. Summing up, the more likely scenario is a drop to the closest support of $0.23.