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Eobot Review – Bitcoin and Crypto Cloud Mining Contracts

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Getting into cloud mining is quite a simple task, as you will see in this Eobot review. The platform in question offers the service by providing daily payouts, which we investigate in-depth. Here, you can find Eobot company information, available cryptocurrencies, details on how to go through account registration & verification, as well as cloud mining plans and fees.

Lastly, we provide a profit analysis under three different scenarios – stable, bear, and bull market trends. Thus, our readers get an accurate description of the platform, comparable with its main competitors.

 

Eobot Company Information

Looking for the Eobot company information, it is easy to see why it lasted for a long time. Namely, its operations started out in 2013 as a trade/exchange website for crypto investors. Even now, you can deposit and withdraw several cryptos, including BTC, ETH, LTC, BCH, and 18 more. 

Additionally, it is based in the U.S., meaning that its services are globally available, N. America included. Cloud mining came out a few years later, in 2017, quickly becoming one of the popular choices for crypto investors.

Eobot Available Cryptocurrencies

There are quite a few Eobot available cryptocurrencies that you can get at the moment. However, the only bitcoin is available for cloud mining. However, while mining BTC, you can exchange it with any other crypto, on spot. Thus, in a way, you can mine ETH for example – just not directly. 

Here are some of the cryptos (apart from BTC) that you can deposit, withdraw, and exchange within Eobot platform:

  • ETH
  • LTC
  • BCH
  • DOGE
  • XRP
  • DASH
  • TRX
  • ADA
  • 13 more

You can purchase plans with crypto only right now. The reason is simple – the company needs to accommodate legal requirements in markets it might wish to serve. 

Eobot Bitcoins Contracts, Plans, and Fees

Eobot Bitcoin contracts, plans, and fees can be seen as a bit complex for beginners. Namely, depending on what mining equipment your plan relies on, the fee and reward structure differ. Currently, there are two active contracts that investors can get into. Two main ( and active) contracts are:

  • GHS 5.0 (SHA-256)
  • GHS 6.0 (SHA-256)

GHS 5.0 Cloud Mining Plan

We start off with GHS 5.0 cloud mining plan, one we use for the profitability calculator in this guide. The contract offers much smaller up-front payment while keeping fees at the $0.00011 per GH/S, per day. The minimum amount of power that you can borrow from Eobot under this category is 1 GHs while the maximum is 100 TH/s.

In a sense, you pay more fees in this one but at the lower initial price. Thus, it is good for those investors that wish to get into cloud mining for a shorter time period.

GHS 6.0 Cloud Mining Plan

GHS 6.0 cloud mining plan is for those that plan to be in the game for a while. It is twice as expensive as GHS 5.0 but takes smaller maintenance fees, standing at $0.00009 per GHS, per day. Thus, if you wish to try out Eobot for a limited amount of time, this plan is not for you. 

There is no limitation on the contract length for either plan. However, GHS 6.0 is best used if you plan to receive payouts for a considerable time.

Eobot Payouts

Currently, Eobot payouts occur on a daily basis. Also, Eobot pays BTC only to its cloud miners. At the same time, the platform is an online crypto exchange as well. Thus, if you wish to gain daily access to other cryptos, such as ETH or LTC, you only need to swap them with BTC payouts.

The payout amount changes regularly, depending on the overall BTC mining difficulty and network supply. However, you can keep the coins within the Eobot wallet and wait for the price surge. This is especially useful if the market is experiencing a bear trend at the moment.

Eobot Profit Calculator

Much like with our other cloud mining reviews, Eobot profit calculator takes factors within three scenarios. The first is a somewhat stable market, where price changes are small. Second is a bear market, with the price dropping down over a year. Lastly, we analyze the period where dreams come true – the bull market.

As for the calculator itself, check out our Genesis Mining review. There, you will find the information on how we go about the calculator, what do we use, and how. Below, you can find the specifications used in this calculation.

Cloud Mining while in Stable Market

If we are talking about cloud mining while in a stable market, then Eobot does have something to offer. Well, sort of, since the ROI on a $1,000 contract is 2.3 years. With ups and downs, the platform’s maintenance fees take the front seat. The GHS 5.0 contract is less expensive than GHS 6.0 and such is more profitable.

It is clearly visible in the table and graph below that price surges are really crucial for a shorter ROI. 2.3 years to get your money back from the initial investment can be a long time to wait.

 

Eobot profitability with regular market

Compared to the top cloud mining platforms, Eobot comes off as an expensive alternative. This is mainly due to the maintenance fees and an expensive up-front contract price. With the ROI low, if we add rising mining difficulty, the profitability rate would drop even further. In this scenario, keeping coins until a bull run occurs would be the best course of action.

Cloud Mining while in Bear Market

Cloud mining while in a bear market at Eobot, although profitable, is not exactly a fun trip to take. With ROI 3.7 years, it is clearly not the best idea to put your money for such a long time if price drops occur regularly. However, maintenance fees, although high, are not that expensive that would render your investment profitless. Bellow table and graph attest to that.

 

Eobot profitability with bear market

The point on which contracts would hit the breakeven point stands at $5,585. That would be a 35% drop during a year, which is possible but not likely. Such a drop usually lasts for a short amount of time, with BTC value picking up later on. Thus, holding your coins while the bear market lasts would be a good idea.

Cloud Mining while in Bull Market

Nothing sounds better than cloud mining while in a bull market. With each passing day, your previous earnings get more and more value. With the uptrend closing in, Eobot’s ROI stands at 1.7 years or 19 months. Taking into account that most platforms provide two-year plans, this is adequate compensation, as seen from the table and graph below.

 

Eobot profitability with bull market

In our calculation, the overall value of BTC grew from 8,600 to $10,800 (26%). We all saw in 2019 that such movement is possible, though it could occur much quicker than a year. 

Overall Analysis

Putting up an overall analysis of the Eobot cloud mining plans, we can say that the platform could do with a bit cheaper maintenance fees. 

Are contracts profitable? Yes, they are. Can you earn a decent amount through Eobot? Now, that is a different thing. Although everything depends on the market trends, the ROI of almost 3 years to earn back the initial plan purchase is quite a long period, especially if bears make their move.

Pros and Cons

Taking into account profit margins and other benefits, here are pros and cons of purchasing Eobot cloud mining contracts:

Eobot pros

  • Instant exchange services for 17 cryptos other than BTC
  • No contract length limitations or fixed amount of months
  • Very Flexible hash power plans

Eobot cons

  • Somewhat high exchange fees (5%)
  • Fiats not allowed as purchase and exchange method

Conclusion – Is Eobot Legit?

Is Eobot legit? In conclusion, yes, it is. However, the ROI you can get out of it relies very heavily on bull runs within the crypto market. Thus, Bitcoin cloud mining contracts come off as slightly expensive, with ROI spanning between 1.7 and 3.7 years. Yet again, you do get the money back during price surges, mostly under two year period.

The post Eobot Review – Bitcoin and Crypto Cloud Mining Contracts appeared first on Cryptocoinzone.

Source: https://www.cryptocoinzone.com/cloud-mining/eobot-review/

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President Maduro: Venezuela Seeks Opportunities To Use Cryptocurrency For Global Trade

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  • Venezuela’s cryptocurrency story continues as the country’s President Nicolas Maduro has presented new use cases. 
  • A recent report informed that the South American nation is studying the possibility of using digital assets in trades alongside the national Petro. 
  • President Maduro has presented new anti-sanctions law in the Constituent National Assembly. In a recent speech, he asserted:

“The anti-sanctions law is the first response to give new strength to the use of petro and other cryptocurrencies, national and global, in domestic and foreign trade, so that all cryptocurrencies of the world, state and private, could be used. This is an important project that is under development.”

  • The news comes after Maduro suggested last year that his country could adopt cryptocurrency payments.
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  • Additionally, Venezuela signed a new tax agreement this summer that enabled the nation to start collecting taxes and fees in the Petro.
  • A study reported by CryptoPotato revealed that digital assets already play an essential role in the country’s struggling economy. Venezuela’s intensifying financial crisis has catalyzed significant interest in cryptocurrencies as people seek opportunities to escape the devaluating national currency.
  • The Bitcoin peer-to-peer volume exemplifies the growing interest in the primary cryptocurrency within the country. As per data from coin.dance, the BTC P2P volume on LocalBitcoins has been continuously surging in the past several months.
Bitcoin P2P Trading Volume LocalBitcoins. Source: coin.dance
Bitcoin P2P Trading Volume In Venezuela on LocalBitcoins. Source: coin.dance
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Source: https://cryptopotato.com/president-maduro-venezuela-seeks-opportunities-to-use-cryptocurrency-for-global-trade/

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Leader That Allowed Scams: TRON’s Justin Sun Responds to Claims by Ex-Employees

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Yesterday The Verge published an elaborate article portraying a picture of Justin Sun’s leadership at BitTorrent post the peer-to-peer file-sharing site’s acquisition by the TRON foundation.

Sun later responded to the ‘false-claims’ made by TRON/BitTorrent’s ex-employees in the article with ‘An Open Letter to Anyone Who Cares to Read’ on Medium.

Claim: Megalomaniac Leader; Response: True Libertarian

In the supposedly expose piece, author

Refuting the above portrayal of his leadership, Sun, in his response, stated that he has devoted his entire life ‘to being a responsible, global citizen’. Adding to this, Justin said that is a true champion of libertarian principles for a significant portion of his life.

I have devoted myself to being a responsible, global citizen throughout my entire life, spending significant portions of my personal and professional life to activities promoting universal values of respect, liberty, equality, and kindness.

The TRON and BitTorrent chief impressed further on his ‘global’ approach to things. He explained that the TRON Foundation harbors a ‘global team of talented contributors and developers’. And that he takes ‘pride in working’ with this global community to make TRON ‘one of the greatest decentralized blockchain protocols’.

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Claim: Freedom Suppressor; Response: Upholder Of Human Rights, Individual Values

Dunaway reportedly engaged in conversations with folks who are/were associated with the TRON brand and the work culture. From what he gathered, Justin enforced a draconian company culture, with employees officially following the ‘9-9-6’ norm.

According to the article, TRON’s HR had Slack replaced with its Chinese counterpart DingTalk. The communication platform had an in-built surveillance mechanism that would use ‘Apple Health to count people’s steps’. Also, DingTalk used to ping employees literally all the time.

To this, Sun responded by saying that he has left no stone turned in, establishing a work culture that respects.

diversity and individuality through a culture that cherishes fundamental human values freedom of speech, user privacy, intellectual property protection, kindness, a diversified working environment, and compliance with legal standards.

Justin went on to comment that TRON and BitTorrent operate with a ‘globally collaborative team’. One that upholds and respects the ethos of cross-culture teams. Sun claimed that the folks at TRON folks have ‘worked hard’ to create a collaborative work culture. One that values freedom of speech and individual privacy.

Claim: Suppressed Criticism, Allowed Scams; Response: No Control Over Protocol Functioning

The Verge piece mentioned that ‘decentralization’ was just a facade for what was happening behind the curtains. Justin Sun and his core officials exercised strict control over content moving about and within the TRON network.

This involved allegedly paying a Redditor to ‘erase negative posts’. Which later drew the ire of the community.

Free speech is part of the ideology of decentralization, where ideas flow without gatekeepers. Tron started deleting any post it wanted.

The article also claimed that TRON’s administration team was silent and allowed the perpetration of scams on the network. While this happened, scammers and the scammed continue to grow in numbers while the management did nothing to interfere.

Justin, in his Medium post, said that he and the entire TRON administration team function sans control. Even though the team at TRON works to upgrade the platform, they do not exercise any censorship/regulation.

…we have no control or discretion over what applications use the protocol, what data is transmitted, or how its community members use it.

Sun went to add that he and his team are proud of TRON and BitTorrent’s achievement over the years. He went to quote that both have collectively ‘served 2 billion users around the world. These include ‘numerous enterprises, universities, and governments’.

Lastly, the TRON and BitTorrent boss struck down all claims made by ex-employees Lucasz Juraszek, Richard Hall, and Cong Li. Justin declared that the TRON foundation’s legal counsel has submitted all the requisite proofs and evidence pieces to the court. “We believe the decision will speak for itself”, he said.

BTT and TRX’s price didn’t seem to undergo any correction following the release of the bitterly scathing Verge piece. On the contrary, BTT is actually up 2.3% in the last 24 hours.

Featured image courtesy of QZ.com

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Source: https://cryptopotato.com/megalomaniac-leader-that-allowed-scams-trons-justin-sun-responds-to-claims-by-ex-employees/

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Ethereum Price Analysis: Will ETH Surpass 2019 Highs Towards $400?

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ETH/USD – Bulls Struggling To Pass 2019 Highs

Key Support Levels: $350, $336, $325.
Key Resistance Levels: $364, $378, $390.

Ethereum pushed higher last week to reach the 2019 highs at around $364 over the weekend. Unfortunately, it has not been able to overcome this resistance in the past four days of trading as bearish divergence popped up on the short term charts – highlighted in our last analysis.

For now, Ethereum is finding strong support between $350 and $355; however, it is looking increasingly likely to break this support soon as the short-term bearish divergence continues to play out.

ethusd-sep30
ETH/USD Daily Chart. Source: TradingView

ETH-USD Short Term Price Prediction

If ETH does penetrate back beneath $350, the first level of strong support lies at $336 (100-days EMA). Beneath this, additional support lies at $324 (.618 Fib), $320, $310, and $300.

On the other side, the first level of resistance lies at $364 (2019 highs). Above this, resistance is expected at $378 (bearish .382 Fib), $390, and $400.

The Daily RSI did dip beneath the mid-line to suggest that the sellers are battling to gain control of the market momentum.

ETH/BTC – Bears Continue To Face Resistance at Falling Trend Line

Key Support Levels: 0.033BTC, 0.032 BTC, 0.0315 BTC.
Key Resistance Levels: 0.0337 BTC, 0.0347 BTC, 0.0352 BTC.

Against Bitcoin, Ethereum continues to face the resistance at a falling trend line that has dictated price action during September. Each time ETH attempted to break above this falling trend line, the coin was rejected and headed lower.

On Monday, ETH attempted to push beyond the March 2019 support at 0.0337 BTC but could not pass it. As a result, ETH moved sideways this week and has returned to the falling trend line. Here, it can be expected that ETH should be heading lower – especially with the daily RSI flattening out in the bearish territory.

Ethbtc-sep30
ETH/BTC Daily Chart. Source: TradingView

ETH-BTC Short Term Price Prediction

Looking ahead, if the trend line rejects the sellers, the first two levels of support lie at 0.033 BTC and 0.032 BTC. Beneath this, support lies at 0.0315 BTC (100-days EMA & downside 1.414 Fib Extension), 0.0311 BTC (.618 Fib Retracement), and 0.0305 BTC.

On the other side, if the bulls can penetrate the falling trend line, the first level of resistance lies at 0.0337 BTC (March 2019 Support). Above this, resistance lies at 0.0347 BTC, 0.0352 BTC, and 0.0361 BTC (March 2019 High).

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/ethereum-price-analysis-will-eth-surpass-2019-highs-towards-400/

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