A mining equipment company CEO has responded to issues raised by mining malware hacks infiltrating Amazon Fire software and Android devices saying that it is not representative of the industry. Talking to NewsBTC, he also said that more crypto mining companies are likely to get listed on the London Stock Exchange (LSE).
‘It Gives Crypto a Bad Name’
NewsBTC reported yesterday that an app called ADM.Miner had been found on Android platforms, including the Amazon Fire TV, which used the hardware to mine cryptocurrencies. The app, which exploited systems that had the developer options enabled, would use up the majority of the processing power, causing the software to crash.
Josh Riddlett, CEO of EasyCryptoHunter, and avid altcoin miner said:
“It gives the cryptocurrency community a bad name. Inevitably, it is not representative of the industry. It has been done for ages and it will continue to be done.”
Argo Blockchain has announced plans to raise £20 million ($26.8 million) to become the first crypto miner on the LSE. The money will be raised through an IPO and the company is set to be valued at around £40 million ($53.5 million). On this news, Riddlett said:
“It will be the first of many. It is a natural route these things will go down. Bigger companies will get more and more interested.”
Riddlett’s company, which sells mining equipment, is focused on mining altcoins. He said that, in general, altcoin mining is more profitable than Bitcoin mining because you’re competing against individuals rather than large-scale mining farms. Bitcoin is not ASIC resistant which means it’s easier for mining farms to mine it but it’s mining rewards decrease over time. He added:
“There’s not really a very strong correlation between Bitcoin mining and price increase. Bitcoin is the hardest it has ever been but it’s not the most expensive its ever been. With altcoin mining, you never have the huge difficulty spikes that you have with Bitcoin.”
Obelisk Taking on Mining Farms
Crypto miners Obelisk have shown their intentions of taking on Bitcoin mining farms by providing crypto-communities with mining equipment. The equipment will be specially designed to mine coins that are ASIC resistant by collaborating with the cryptocurrency’s developers. Their main competitors Bitmain are also considering an IPO as CEO Jihan Wu said that he is open to a listing in Hong Kong.
Mobile crypto mining has taken a hit as Apple has issued new controls to prohibit crypto mining on its software. In order to protect its software over mining malware, similar to what affected the Android platforms, it has added new rules to its developer guidelines. The rules now state that apps should not generate excessive heat, rapidly drain the battery or run background crypto mining processes.
Crypto mining is on the rise in Venezuela due to cheap electricity as citizens look for a consistent income among hyperinflation. Some rigs can generate $1,000 a month which is a substantial amount of money and is paid in a foreign currency, such as the US dollar, which means it is subject to less inflation.
Bitcoin: New way to launder income of Mexican cartels
Mexico City.- Some of Mexico’s main criminal organizations laundered their profits globally through the use of virtual currencies such as Bitcoin. The above according to the report National Evaluation of Drug Threat 2017, prepared by the Drug Control Administration (DEA).
In this regard, the institution noted that China has become a major center of money laundering, for which large shipments are used from the Asian country, where cryptocurrencies have become very popular currencies.
In previous years, the preferred methods were money transfer systems. Today bitcoin and other virtual currencies allow cartels to transfer illicit profits on an international scale, ‘the report says.
For this reason, the PGR and the DEA decided on Wednesday to form a joint team to combat the financial networks of drug trafficking, a strategy that promises to be more effective than capturing the leaders of criminal gangs.
In previous years, the preferred methods for moving and laundering illicit profits, ie the smuggling of bulk money, was to use money transfer systems, money laundering based on commerce and the formal banking sector. Today, bitcoin and other virtual currencies allow cartels to easily transfer illicit profits on an international scale, ‘the DEA informed.
He added that for 2017 the sale of drugs in the US, represented profits of 64 billion dollars, 21 percent of all illicit money generated in that country at present.
Meanwhile, a second study noted that currently half of the bitcoin transactions are linked to drug trafficking, which means a total of 72 billion dollars. This goes hand in hand with a decrease of 27 percent in cases of confiscation of cash money by drug trafficking.
Vault Coin (VLTC) Cryptocurrency Daily Volume at $1 as Price Down to $0.000064
The cryptocurrency market took a massive tumble in the week following the SEC’s announcement that it would postpone its ruling on whether to allow the listing of the Cboe VanEck/SolidX ETF backed by Bitcoin (BTC) to September 30. When all was said and done, the total market capitalization dropped to as low as $189 billion, levels not seen since November of last year.
However, since hitting that low on Tuesday, the market experienced a fairly sizeable altcoin bounce that brought back more than $35 billion in total capitalization. The relief rally intensified late in the week as major blockchain projects announced significant exchange listings, technological milestones, and system updates.
As we head into the next week, investors will likely be keeping their eye on the price action of BTC, as it has been denied by the $6,500-$6,600 range multiple times and currently sits at around 51% market dominance. How BTC acts here will likely be indicative to the next major movement.
Here’s the rest of the week in review:
Binance LCX, a joint venture between Binance and LCX, has announced the launch of an upcoming fiat-to-cryptocurrency exchange. Binance is set to provide and maintain the platform, while Binance LCX manages customer support, due diligence, legal requirements, KYC, AML and government communications. Binance LCX plans to build a team of roughly 10-15 individuals to fulfill the venture in their Lichtenstein office.
Tyler and Cameron Winklevoss, the founders of crypto exchange Gemini, aren’t overly fazed by the recent SEC decision. Instead, while they wait for Wall Street and the SEC to get on board with crypto, the company will focus on expanding its product offering focused on retail investors.
Toshi, the Ethereum mobile wallet, has recently been rebranded as Coinbase Wallet. The Coinbase-developed app has been revitalized with a new name as the service merges into a larger effort to invest in products set to define the future of the decentralized web.
Bitmain, a leading ASIC chip maker and crypto mining hardware manufacturer, has more than $570 million in Bitcoin Cash (BCH) holdings, according to a pre-IPO investor deck. According to the documents, Bitmain has 1,021,316 BCH, which it purchased at an average price of $869. While this represented a total holding of around $887 million at the time of the statement, BCH has since fallen in value to $573, which means that Bitmain has suffered a ~$317 million loss in a little over a quarter.
This week’s market recovery was primarily driven by gains in VeChain (VET), Ontology (ONT), and NANO (NANO). The AltDex 100 Index (ALT100), a benchmark index for the industry’s leading cryptocurrencies and tokens, finished flat this week and currently sits at 79.40.
Other cryptocurrency categories were relatively mixed over the last week. The AltDex Exchange Token Index (ALTEXC), a benchmark index for the industry’s leading exchange tokens, fell over 7% while the AltDex Privacy Coin Index (ALTPRV), which tracks tokens focused on privacy or security, is up around 2%. The new AltDex Masternode Index (ALTMSN), which tracks major masternode cryptocurrencies, dropped over 4%.
IOTA, Vechain Lead Tepid Crypto Market Recovery on Sunday
Vault Coin (VLTC) traded down -0.94 percent against dollar during the last day interval closing 11:00 on August 19th EST. Vault Coin presently has a marketcap of $1,950 and its 24 hour trading volume is around $1. Within the 7 day interval, Vault Coin is -0.16 percent against the dollar with a movement of 1.17 percent inside the last 60 minutes.
Now let’s take look at how similar cryptocurrencies have performed in the last 24h:
- Stellar Holdings (HOLD) is currently at $0.00 against the USD, a -7.93 percent change since yesterday. The Bitcoin price of HOLD is currently at 0.00000004 BTC.
- Eryllium (ERY) is currently at $0.00 against the USD, a -4.08 percent change since yesterday. The Bitcoin price of ERY is currently at 0.00000061 BTC.
- ChatCoin (CHAT) is currently at $0.01 against the USD, a -1.15 percent changesince yesterday. The Bitcoin price of CHAT is currently at 0.00000215 BTC.
- Pigeoncoin (PGN) is currently at $0.00 against the USD, a -1.91 percent changesince yesterday. The Bitcoin price of PGN is currently at 0.00000004 BTC.
- PeepCoin (PCN) is currently at $0.00 against the USD, a -5.22 percent change since yesterday. The Bitcoin price of PCN is currently at 0.000000003 BTC.
- Atmos (ATMOS) is currently at $0.01 against the USD, a -16.05 percent changesince yesterday. The Bitcoin price of ATMOS is currently at 0.00000133 BTC.
Vault Coin Info
Vault Coin has a max supply of 30,385,540 coins. It started on 13th October, 2016.
From cryptocompare.com: “VaultCoin is a Proof of Work cryptocurrency based on the X11 algorithm. You can pay or send money to anyone, anywhere in the world in the form of this internet currency for a low fee.”
Listed here are a few good links for those who wish to get more information concerning Vault Coin:
- Website: –
- Github: https://github.com/teamvltcoin
- Twitter: Vault coin
- Reddit: https://www.reddit.com/r/Vaultcoins/
- Facebook: https://www.facebook.com/vaultcoinVLT/
VLTC: Info for Traders
People can obtain VLTC on exchanges such as CCEX, Novaexchange, TradeSatoshi, LiveCoin,
It’s not always viable to buy cryptos including Vault Coin right away using USD. Investors hoping to acquire VLTC may perhaps need to firstly buy Bitcoin or Ethereum from an market place which has got American dollar trading pairs such as Coinbase or perhaps GDAX. Traders can then use this BTC or Ethereum to invest in Vault Coin using one of the exchanges we detailed previously.