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Bitmain and BitDeer join forces in new Marketing Initiatives

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BitDeer.com is excited to announce that the leading computing power-sharing platform is joining forces with China’s crypto mining giant Bitmain to forge a strategic brand alliance.

The partnership has been kicked off through a series of cross-marketing initiatives with Antminer, BTC.com, and AntPool, three of Bitmain’s major subsidiary product lines.

Source: MagicFew

BTC.com and AntPool became BitDeer.com’s debut strategic partners, dedicated to providing transparent, stable and professional mining pool services to BitDeer.com’s global users since the platform’s official launch last December.

Since then, AntPool and BTC.com have become reliable partners for BitDeer.com offering users the opportunity to participate in the world’s largest mining pools.

With BitDeer.com, there are no centralized middlemen due to mining payouts being directly provided from the mining pool to the user’s own wallet which differs from many other platforms.

BitDeer.com was also the first computing power-sharing platform to offer mining plans deploying Antminer’s new ultra-efficient S17 cryptocurrency miners after the hardware was announced. This has led to higher processing power with a reduction in energy consumption and an added value of lowered pricing.

Speaking of the new partnership, Celine Lu, founder of BitDeer.com, said,

“Closely working together with Bitmain’s hardware products has provided major advantages for BitDeer’s computing power-sharing platform, allowing us to expand our integration capabilities and scalability, and provide the greatest value that we can give to all of our users.”

Xiaojun Fan, Bitmain’s Head of APAC Sales, said,

“We firmly believe the cooperation between Bitmain and BitDeer is a positive strategy. The partnership will greatly increase mining options for our customer base.”

Bitmain’s Head of APAC Sales Xiaojun Fan with BitDeer’s Founder & CEO Celine Lu | Source: MagicFew

CEO of BTC.com, Zhong Zhuang, has said,

 “The cryptocurrency market continues to develop and gain mainstream acceptance. In the future, more investors and new commercial hardware mining operators will enter into the cryptocurrency mining industry. For these larger mining operations, they have the leverage and capital to achieve economies of scale.”

However, for small and medium-sized mining users, BitDeer.com’s scalable, reliable, worry-free, and transparent sharing mining mode will be the best choice to be competitive against the large players.”

Another strategic partner, Antpool’s co-founder Xin Tian believed the emergence of BitDeer.com has disrupted the traditional status quo of mining operations. He stated,

“With the energy costs and initial hardware investments greatly reduced, the barrier of entry for mining has been lowered. Any investors or mining enthusiast can quickly participate in mining cryptocurrencies and receive payouts immediately, which will inevitably provide users with much friendlier user experience with less risk.”

As a rising star in the field of cryptocurrency mining, BitDeer.com has been gaining prominence with millions of users for over six months and has served more than 200 countries around the world.

BitDeer.com has become a leader due to its intuitive user experience, competitive energy sourcing, and expert operational management.

BitDeer.com’s computing power-sharing platform and dedicated mining sharing service provide the best turnkey mining solution for miners of all sizes.

Miners can reduce operational overhead and initial investment when working with BitDeer.com due to the economies of scale that BitDeer.com offers.

The unprecedented transparency that BitDeer.com provides is unlike other competitors as users are able to see clearly the operations of the machine rental, and receive their crypto mining rewards directly from the mining pool to the wallet of their choice.

BitDeer.com also maintains world-class professional server operation facilities and the top colocation maintenance teams with strong industry resource integration capabilities.

The industry resources allow for BitDeer.com to work with sustainable electricity providers for the lowest prices. By controlling costs through economies of scale, BitDeer.com is able to obtain the lowest pricing on the operational overhead and pass down the savings directly to miners who participate in the mining platform.

About BitDeer.com

BitDeer.com is the world’s leading computing power-sharing platform, enabling global users to mine cryptocurrencies in a transparent, reliable and convenient way. It saves users from the complicated process of purchasing, installing, and hosting mining machines. Individual miners can enjoy the service with just one click.

Source/ambcrypto

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BBC Journalist Warns Crypto Traders After Losing $30K in Critical Mistake

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A BBC journalist is sharing his story on how he lost $30,000 in Ethereum (ETH) in an effort to try and educate crypto newbies.

Business reporter Monty Munford says he decided to buy the second-largest cryptocurrency by market cap in mid-2017.

“I chose it not for any other reason than it was second to Bitcoin by valuation and looked like it could emulate that 100,000% rise. So in the middle of 2017, I made some investments, figuring that it was a long-term plan and might even become a nest egg for a pension.”

Munford says the experience was “utterly terrifying” and after buying his Ethereum, he read about the frequency of crypto exchange hacks and decided to move his crypto to a wallet for safekeeping.

He chose MyEtherWallet and obtained the private key to his holdings – the string of letters and numbers he needed to access his crypto.

But then came the crucial mistake. Munford says he wrote the private key on a piece of paper and stored it in his Gmail drafts folder, so that he could access his crypto with ease. When the price of Ethereum shot up in late 2017, he decided to check his holdings, only to discover that all of his crypto had been moved to another address.

Munford contacted the US-based blockchain forensics company CipherBlade, and sent the results to Binance.

“The following morning I was contacted by Sussex’s cybercrime unit, my local force, and within a week they had received useful information from Binance. The unit tracked IP addresses to a telecoms company in the Netherlands, but there weren’t any personal identification details to be had – perhaps unsurprisingly.

The investigations continue, and my money remains stolen.”

Crypto thieves likely used a phishing scam to access Munford’s email or used malware to gain access to his computer, monitor his keystrokes and copy/paste his activities. Either way, Munford says he’s telling his story to let others know how careful they need to be with their private keys.

“So I’m left with my fingers burned, feeling like I wandered into a savage bazaar where criminals can pick your pocket at will. And get away with it. Please learn from my mistakes.”

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What Caused the Abrupt Dissolving of Barclays’ 15 Month Relationship with Coinbase Crypto Exchange?

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Latest reports confirm Barclays has ended its relationship with Coinbase, ending one of the crypto’s most fascinating partnerships, in mysterious circumstances.

The exchange replaced the household bank’s withdrawal and deposit functionalities by opening an account with a rising prodigy in U.K’s banking industry, Clearbank. While no official reports have sufficed we look at possible explanations why the two ended their relationship.

BEG reported in March 2018, a highly publicized partnership between Barclays and top crypto exchange, Coinbase, to connect the latter to the U.K. Faster Payments Scheme (FPS). This allowed U.K customers an instant platform to buy and sell cryptocurrencies on the exchange using the British Pound.

Following the dissolved partnership, U.K customers are witnessing slower transactions using the GBP. As at time of writing, neither company has commented on the matter.

Barclays low risk appetite or a mutual goodbye?

While the cause of dissolving the partnership still remains unclear, one insider familiar with the matter claims the bank’s “low risk appetite” for the crypto industry in general caused the split. He said,

“It is my understanding that Barclays’ risk appetite has contracted a little – I’m not sure exactly why or what’s been driving that, maybe there has been some activity they are not happy with.”

The CEO of a crypto company in the U.K further claims the bank does not have the stomach for any crypto company – at least at the moment. He said,

“But it’s about Barclays’ comfort level with crypto as a whole.”

A mutual goodbye…

However, different reports from Coindesk confirms that the two companies came to a mutual agreement to end the partnership citing the partnership had completed its work. This aligns with the recent developments– such as the addition of several cryptocurrencies – seen at Coinbase in the past few months.

Given the strict regulations that Barclays placed on the listing requirements of cryptos, the exchange is now adding quite a number of tokens on its platform following the split with Barclays. However, Clearbank, is not giving the exchange a freepass as it already sanctioned the removal of privacy coin, ZCash (ZEC) from the platform.

Barclays however have been showing signs of leaving the crypto sector with the bank temporarily closing the cryptocurrency trading desk in late October 2018.

Source. bitcoinexchangeguide.

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IAMAI Makes Headway in Indian Crypto Ban Hearing

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Looks like, the tide may turn in favour of cryptocurrency exchanges in India soon. The hearing for the Reserve Bank of India (RBI), Internet and Mobile Association of India (IAMAI) and exchanges started an hour back in the Supreme Court.

Ashim Sood, who is representing the IAMAI explained why banking support was necessary. The court asked, “Can’t you change your bank such as those which aint governed by RBI?” In answer to that, the counsel responded that only foreign banks are there and exchanges use that and there would be a problem with the outward remittance which is hit by FEMA regulation.

The counsel further added that the legality of the RBI circular was in question, since there was no study done by the institution, regarding cryptocurrencies. It further said, “Banking regulation Act prescribes the exercise of power by RBI only for the inner working of the Banks and for the interest of the depositors specifically in their capacity as depositors and not otherwise. RBI taking actions for general consumer interest is beyond legality.”

The judgement summarised by the counsel stated, “RBI cant step out of its powers as set out in Banking regulation Act. Therefore its action against private buisinesses in the form of 6th april circular is illegal.”

Sood further argued that the RBI itself had admitted that it does not have the jurisdiction to speak on the legality of Crypto as it is neither coins nor currency and RBI Act and Payment Settlements Act are not applicable on Cryptos. He added that banning or regulating something must be a legislative action and that the directive to do so, should have come under the legislature and not the RBI.

The judge countered that Section 45 J conferred power on the RBI to formulate policies, but the counsel argued that this was especially for Non Banking Financial Company (NBFC) whereas the case pertained only to banks.

The judge said that there is certain speculation involved when an exchange facilitates two people to buy and sell. The counsel for the IAMAI agreed and said it was similar to commodity trade, share market etc. People have consensus on its value. Currently, the judges are being shown how cryptocurrency regulations are being formulated in other countries such as European Union, China, France, Japan, Mexico, United States of America among others.

The counsel ended his arguments by saying that he knows there are detrimental effects to cryptocurrencies, but so does every technology. The hearing ended at this point and will resume on August 20.

.Source: .cryptopotato

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