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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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Firefox Browser Adds Option to Automatically Block Crypto Mining Scripts

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Mozilla has released an update for its Firefox browser which includes an option to block cryptocurrency mining scripts on websites.

The option is being offered alongside control of cookies and trackers in the “Privacy & Security” tab of the browser, where users can now also choose to tick a box that prevents “cryptominers” from running, Mozilla announced on its blog Tuesday.

Crypto-mining scripts on websites run in the browser, normally without users’ knowledge or consent, using the power of the computer processor to mine cryptocurrency for hackers’ personal gain.

“These scripts slow down your computer, drain your battery and rack up your electric bill,” Mozilla said.

 

The option to block mining scripts has been available in beta since the feature’s initial launch in April, with Mozilla partnering with cybersecurity firm Disconnect for the service.

Mozilla revealed its plan to offer the feature last August, saying its goal was to prevent third-party scripts from hampering the user experience. Web browser Opera also offers miner protection in its smartphone version, while Google’s Chrome has banned miners from its extensions.

Illicit crypto mining, sometimes called crypto-jacking, is fast gaining in popularity with criminals (there are more legitimate uses too). The code that carries out the task of mining can be propagated by malware and placed directly within computer systems, or it can be placed on websites by hackers to mine using victims’ machines through browsers.

A report from Skybox Security last year found that the method now account for 32 percent of all cyberattacks, while ransomware only makes up 8 percent.

In 2017, Skybox found that the situation was almost exactly reversed. While ransomware attacks – in which the data on an individual’s computer is encrypted by malware and only unlocked upon payment of a fee – made up 32 percent of all attacks, cryptojacking represented 7 percent of the total at the time.

 

source:coindesk

 

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Crypto Lending Startup BlockFi Slashing Interest Rates on Ether Deposits

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Cryptocurrency lending startup BlockFi is almost halving the interest rates it offers on ether (ETH) deposits, while some bitcoin (BTC) rates will increase slightly.

From June 1, customers with 25–100 ETH balances in a BlockFi Interest Account (BIA) will see the interest rate drop from the current 6.2 percent annual percentage yield (APY) to 3.25 percent, the startup announced Tuesday. Those holding over 100 ETH balances will earn just 0.2 percent APY.

Some BTC balances, on the other hand, will see a slight interest rate increase – up to 2.15 percent from the current 2 percent – for deposits of over 25 BTC. Those holding 0.5–25 BTC will continue to earn 6.2 percent APY, BlockFi said.

The firm cited the reason for the increased interest rate on larger BTC deposits as being because borrowing and lending markets for the world’s largest cryptocurrency by market capitalization “have developed into a vibrant and growing field.”

On the contrary, the ether lending market has become “stagnant” over the last couple quarters, BlockFi said. The firm’s terms and conditions state that it can change interest rates at its discretion.

The company launched the BIA in March, offering an annual interest rate of 6 percent, paid on a monthly basis in cryptocurrency. That monthly interest is then compounded to produce a 6.2 percent APY.

BIA crypto holdings are custodied at the Gemini Trust Company, which is regulated by the New York Department of Financial Services and also offers insurance coverage for the digital assets it holds in custody.

In Tuesday’s update, BlockFi further updated that the BIA now has over $100 million in assets under management – almost double the $53 million it had as of last month.

BlockFi is backed by notable investors including Mike Novogratz’s Galaxy Digital Ventures and Anthony Pompliano’s Morgan Creek Digital. The firm raised $4 million last December, and previously raised $52.5 million last July.

 

source:coindesk

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IRS Says It Will ‘Soon’ Issue Crypto Tax Guidance in First Since 2014

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The U.S. Internal Revenue Service is working on its first tax guidance for cryptocurrency since 2014, the agency’s commissioner told a lawmaker Monday.

In a reply to Rep. Tom Emmer’s request for further guidance on reporting cryptocurrencies, IRS Commissioner Charles P. Rettig outlined a non-specific plan to release in-depth guidance in the near future.

“I share your belief that taxpayers deserve clarity on basic issues related to the taxation of virtual currency transactions and have made it a priority of the IRS to issue guidance,” Rettig wrote.

The IRS is working on guidance for “acceptable methods for calculating cost basis, acceptable methods of cost basis assignment, and the tax treatment of forks” according to the letter.

Guidance on these and other issues will be published “soon,” Rettig wrote.

5.16.2019 emmer 2019-11771 by John Biggs on Scribd

“I am glad to hear of the IRS’ plans to issue guidance on this important issue,” Rep. Emmer said in a statement after receiving Rettig’s reply. “Taxpayers deserve clarity on several basic questions regarding federal taxation of these emerging exchanges of value. I look forward to seeing their forthcoming proposal, and working together to serve the American taxpayers.”

Rep. Emmer is part of the Congressional Blockchain Caucus, a group of lawmakers that aims, among other goals, to solidify the reporting requirements and legal requirements associated with cryptocurrencies.

His original request called for the IRS to “issue more robust guidance clarifying taxpayers’ obligations when using virtual currencies” with a deadline of May 15, 2019.

2019 IRS Letter Final by John Biggs on Scribd

 

source:coindesk

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