This is a sponsored article provided by CryptoMining.Tools.
At CryptoMining.Tools, aspiring and established bitcoin miners can easily and securely find all of the help they need to not only start their own operations, but to improve efficiency and grow as well.
The firm serves several primary functions to help achieve this level of support for its users: On a fundamental level, it provides a marketplace to connect buyers and sellers of all sorts of ASIC mining equipment, allowing users to find a whole catalog of relevant materials. Additionally, it has a variety of resources designed to connect these new miners to colocation companies, essentially allowing these miners to take advantage of some of the world’s cheapest electricity for their operations.
As an added feature, it also includes a sophisticated profitability calculator to help users determine exactly where and when their mining endeavors will make a return on their investments.
“It has been less than a year since the birth of the CryptoMining.Tools online bitcoin profitability calculator and interactive ASIC hardware comparison chart,” Scott Offord, the project’s creator, said. “I’ve had a desire to provide realistic profit projections to my clients who buy ASIC miners for a couple of years now. With my background in internet marketing and web development, it was a no brainer for me to use my skills to help fellow mining professionals and enthusiasts make better forecasts and business decisions.”
Offord’s road in building CryptoMining.Tools has been a challenging and exciting one, especially since he’s been building the company from the ground up.
“It started out with just me doing miner brokering, project management and marketing,” he explained. “I had to wear many hats, but then an opportunity to work with Ethan Zurka presented itself and he’s been vital in moving the project forward. Now, Ethan leads a team of developers who are continuing to build out new features in our online ASIC hardware marketplace that acts as a matchmaking service for buyers and sellers of mining equipment, allowing them to conduct business in a secure environment with other active and trusted members of the CryptoMining.Tools community.”
For Offord, however, bootstrapping a functioning part of the crypto community with very limited support is more than just a matter of personal pride. He explained how the flux of ICO launches in 2017 proved not just an irritation to him but also a detriment to a healthy bitcoin economy.
“It wasn’t long ago that it seemed as though almost every project out there was trying to do an ICO,” stated Offord. “Companies would publish a white paper and launch a new coin in an effort to raise funds for further development of their project. I’m actually very happy to see that governments around the world are starting to crack down on this to ensure innocent investors aren’t getting scammed out of their money.”
He added that the CryptoMining.Tools team “chose not to go the route of doing an ICO because we knew we could get to a point where we could build critical mass by ourselves.”
A small portion of the company was sold to two new partners who are now equity shareholders, allowing CryptoMining.Tools to continue development of the marketplace, strategically align with others in the blockchain mining industry and add more tools without taking on debt.
Offord also spoke about some of the core values behind CryptoMining.Tools that guide the project today. Primarily, this means ensuring credibility for the information it provides and the products it brokers.
“On our site, sellers are verified with their passport or driver’s license and brokers have passed strict background checks to ensure they are legitimate and reputable sellers who we know will do what it takes if a deal goes sideways and will compensate the buyer if they don’t end up getting what they expected out of a sale,” Offord said.
It’s clear that CryptoMining.Tools is only planning to expand in the future. In addition to purchasing TheMinerBay.com, a miner hosting directory which will be added to the company’s array of tools available to customers, the company is also producing a podcast.
“For us,” Offord said, “we really just aim to continue refining our existing tools and making them more useful to the mining community.”
Being a meaningful participant in the community has always been important to Offord and that’s why his company has “been focusing hard to foster community in the mining industry in our various Telegram groups, such as the CryptoMining.Tools Telegram group. We have been working with other Telegram group owners and moderators to build a database as well as some bots to help us sort the scammers from valid users in our online communities.”
In the future, Offord hopes that CryptoMining.Tools will become a major staple of the mining economy, helping newcomers feel truly comfortable in this often chaotic, profitable space.
The post CryptoMining.Tools Is Building the Bitcoin Mining Community appeared first on Bitcoin Magazine.
UBS Gold Price Prediction Buoys Mid-Term Bitcoin Bull Case
UBS, a top-two investment bank in Switzerland after Credit Suisse, has a bullish outlook on gold. In the medium term, the improving sentiment around the precious metal could buoy the bull case of Bitcoin (BTC).
Many high-net-worth investors within the cryptocurrency space describe Bitcoin as gold 2.0. Billionaire investors the Winklevoss twins have consistently said they believe BTC is a better store of value than gold.
The monthly chart of Bitcoin dating back to 2015. Source: XBTUSD on TradingView.com
According to the data from Skew, the correlation between BTC and gold has also increased significantly since April.
Why is UBS So Bullish on Gold and Could Sentiment Spill Over to Bitcoin?
UBS head of Asean global markets Yeoh Choo Guan said the bank expects gold to stay between $1,850 to $2,100 in 2021.
Gold has increased by 29% year-to-date, and a prediction of a 7.5% rally for an asset like gold is a bullish projection. Guan said:
“We are very bullish on gold. We think that the prices will go higher and what is interesting is we think it will stay higher for longer than expected.”
Atop its technical momentum, Guan noted that gold is becoming an “attractive portfolio diversifier.” It has historically acted as a robust safe-haven asset, but its increasing price in recent months has made it more compelling.
The risk of inflation in the medium term emerging from the Federal Reserve’s average inflation policy could also fuel the uptrend of gold.
If gold continues to see strengthened momentum, it could potentially spill over to Bitcoin.
Data from Skew shows that the realized correlation between BTC and gold is at a multi-year high. The one-month correlation reached 74%, a level it has not seen for years.
The correlation between Bitcoin and gold. Source: Skew.com
The bulk purchase of Bitcoin by MicroStrategy and the continuously increasing assets under management (AUM) of Grayscale indicate more institutions consider BTC as a store of value.
The Longer-Term Bull Case For BTC
Over the long term, long-time Bitcoin investors, like Tyler Winklevoss, foresees BTC eventually reaching $500,000.
In a paper entitled “The Case for $500K Bitcoin,” Winklevoss wrote:
“Bitcoin has already made significant ground on gold — going from whitepaper to over $200 billion in market capitalization in under a decade. Today, the market capitalization of above-ground gold is conservatively $9 trillion. If we are right about using a gold framework to value bitcoin, and bitcoin continues on this path, then the bull case scenario for bitcoin is that it is undervalued by a multiple of 45.”
The medium-term bullish predictions for BTC revolve around the post-halving cycle and the bullish trend of gold. The long-term bull cases for BTC are based on the expectations that BTC could reach parity with gold.
Currently, the market capitalization of Bitcoin hovers at around $202 billion, which is less than 2.25% of gold’s valuation at $9 trillion.
Uniswap (UNI) price jumps 135% to $6.00 highs
UNI/USD price has touched highs of $6.00 as total value locked jumps to $1.40 billion.
UNI/USD has touched highs of $6.08 on Coinbase, despite fears that airdropping over $1,500 worth of UNI tokens to users would see users looking to cash in on the goodies dump prices. Instead, investors are now eyeing higher gains, with analysts forecasting Uniswap’s governance token could be the driving force behind a new DeFi craze.
If dump happens, support lies around $4.20-$4.50 and crucially above $3.00.
Looking at the charts, UNI/USD is trending overbought with the RSI still rising to suggest a correction is likely. The MACD is also fully extended, to suggest holding prices above $5.00 could help bulls hold the advantage.
However, if a downward materializes, the critical support zones will be $4.20-$4.50 and below that, $3.00 that forms the entry point on the upswing to $6.00. Many holders are likely not to sell beyond this level.
Uniswap in top 25 by market cap
On September 17th, Uniswap announced it would airdrop 400 UNI tokens for every address that had called the network by September 1st. Immediately, more than 29.9k wallets claimed the new tokens.
At the time, UNI/USD was trading around $3.00. In the past 12 hours, UNI/USD has surged with a series of higher highs and higher lows as more Uniswap users continue to claim their free tokens. Per data on Etherscan, 77,451 addresses have claimed their 400 tokens with total transactions reaching over 336,500 as of writing.
Uniswap is now ranked as the 25th largest cryptocurrency in the market, with a market capitalization of $915 million and over $2.9 billion in intraday trading volume. The token is also listed on major cryptocurrency exchanges, including Coinbase, Binance, Huobi Global, FTX, and WazirX. There are also more than 60 trading pairs.
According to data on CoinMarketCap, UNI/USD changed 215% in the first 24 hours after its launch. The token is trading more than 135% up on the day, jumping to hit highs of $6.00 in the early market sessions on September 18th. The momentum has cooled, but the upside remains and higher gains cannot be ruled out.
Uniswap tops of DeFi
The total value locked in decentralized finance protocols has hit $9.01 billion, with the value of assets locked in Uniswap surging more than 81% in the past 24 hours to account for over 15% and top the leaderboard.
Uniswap has climbed to the top with $1.40 billion in total value locked, ahead of Aave with $1.35 billion and Maker with $1.15 billion according to data from DeFi Pulse.
Libra Association announces Blockchain Capital as the latest governance member
Blockchain Capital has joined the Libra Association as the project’s governance member. The investment firm will participate in the project’s decision making. The association recently appointed ex HSBC official, James Emmett. Libra Association, the now-independent member organization overseeing the Facebook-planned Libra token development, is notably becoming active on its mission in the recent days. On […]
- Blockchain Capital has joined the Libra Association as the project’s governance member.
- The investment firm will participate in the project’s decision making.
- The association recently appointed ex HSBC official, James Emmett.
Libra Association, the now-independent member organization overseeing the Facebook-planned Libra token development, is notably becoming active on its mission in the recent days. On Thursday, the non-profit association onboarded an ex HSBC official to lead the initiative forward. Today, it announced Blockchain Capital as its newest governance member.
Blockchain Capital joins Libra Association
The development was confirmed in a press statement published by the association on Friday. Going forward, Blockchain Capital, as a governance member, will participate in the key decision making for the development of both the Libra network and its Reserve. Specifically, the association noted that the company will recommend better ways to ensure the creation of the long-planned Libra payment system.
Also, the Vice Chairman of the Libra Association, Dante Disparte, said:
As a member of the Libra Association, Blockchain Capital brings deep industry insight and a dynamic network of supporters as we work on building a blockchain-based payment system that supports responsible financial services innovation.
Libra project is gaining more ground
Blockchain Capital, the newest governance member of the Libra Association, is notably one of the long-standing investment companies in the cryptocurrency and blockchain ecosystem. The venture capital firm has funded more than 80 industry companies, since its inception seven years ago. It reportedly holds investments in digital currency exchange, Coinbase, and Ripple.
Last year, may people had assumed that the Libra project would die-off as several prominent companies like Mastercard, PayPal, etc., began withdrawing from the association suddenly. However, the organization vowed to remain even with 21 company members then. Fast forward to today, the association seems stronger. It recently welcomed three new members, as Cryptopolitan reported.
Meanwhile, the organization has appointed the former HSBC top official, James Emmett, as the managing director of Libra Networks LLC, a company operating under the association. Emmett is to work towards the enhancement of “financial innovation and inclusion and to deliver the operationalization of the network.”
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