| September 8, 2018 | Read in Browser |
 QUOTE OF THE DAY  |
| "If you see a bandwagon, it’s too late." - James Goldsmith |
| COIN | PRICE | 24H |
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| BTC | $6,501.052409 | +0.45% |
| | ||
| ETH | $219.759004 | -1.15% |
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| XRP | $0.294651 | -0.07% |
| | ||
| BCH | $503.946355 | -0.64% |
| | ||
| EOS | $5.118851 | +0.78% |
| | ||
*Information as of 9:30 AM EST
Who's mining profits still?
CEO of Major Mining Pool Releases List of Minimum Crypto Prices for Mining Profitability
MINIMUM MINING LIST
- September 6th, CEO of China’s F2Pool Shixing Mao published a list containing the minimum prices needed for mining to be profitable on many different cryptocurrencies
- The cryptocurrencies included in the infographic were Bitcoin, Litecoin, Ethereum, Zcash, DeCred, Siacoin, Dash, and Bytom
- The list showcases different minimum price options for different popular mining models
Here is the list that Shixing Mao posted publicly:
MAJOR BITCOIN PRICE POINTS
- According to the infographic, the highest minimum price for profitability is the S7 model miner which is unprofitable anywhere below $11,581
- In contrast, Antminer’s popular T9 model is still profitable if the price of Bitcoin stays above $5,376
- Sitting comfortably, the Innosilicon T2 has the lowest breakeven price point as it remains profitable to mine Bitcoin anywhere over $3,891
SEEKING PROFITABILITY
- Within the entire list, all of the Ethereum, Litecoin, Zcash, and DeCred mining setups remained profitable
- Those which are currently underwater include some of the Bitcoin mining models, a Siacoin miner, a Dash miner, and a Bytom miner
- To conclude, many miners have remained profitable despite Bitcoin's price decline and some still have a solid cushion before mining doesn't make sense
Binance May Be Thinking About Going Public, Hires CFO
NEW CFO
- Binance announced the hiring of a new CFO, Wei Zhou
- Zhou comes to Binance with experience taking two companies public as CFO
- He has also worked in investment banking for Goldman Sachs and most recently served as vice chairman of Grindr before joining Binance
IPO RUMORS
- People have begun connecting the dots and are guessing that the hiring of Zhou indicates that the exchange is considering going public
- Binance has been an incredibly successful business in a very short time frame, going public seems unnecessary as they have shown the tremendous ability to generate free cash flow
- However, Binance may have much larger plans than people speculate and going public would give them the capital to expand
Binance CEO ‘CZ’ took to Twitter to respond to the rumors:
“Binance have no plans for IPO, but that doesn't make those experiences less valuable in our new industry. On the contrary, those are very much needed. We are always looking for top talent, from traditional finance, internet ... any industry and anywhere in the world!”
Blockchain Evidence is Now Legally Binding in China
SUPREME COURT RULING
- China’s Supreme Court has ruled that blockchain evidence can now be used in court in the country
- The ruling is a part of a new clarification regarding the jurisdiction of internet courts in China
- Parties using blockchain evidence must be able to prove the legitimacy of the technology
The Supreme Court announced:
"Internet courts shall recognize digital data that are submitted as evidence if relevant parties collected and stored these data via blockchain with digital signatures, reliable timestamps and hash value verification or via a digital deposition platform, and can prove the authenticity of such technology used."
BLANKET BAN
- China’s relationship with blockchain and cryptocurrencies has been a very odd case study
- The country currently has a blanket ban on all cryptocurrency trading, initial coin offerings, and media publications related to the industry
- It seems like the country is choosing blockchain not cryptocurrency and use the technology sans any token incentives
Top Lawyer at Ripple Leaves Amid Variety of Class Action Lawsuits
LLYR LEAVES RIPPLE
- Yesterday, a spokesperson at Ripple clarified that top lawyer Brynly Llyr has left the general counsel of the cryptocurrency startup
- Her departure comes after serving in that role for almost 2 years
Speaking on Llyr’s decision, Ripple explained its gratefulness for her service:
"We’re grateful to all that she did to help build an incredible team that will continue the work they’ve been focused on for the past year and beyond. We wish Brynly all the best in her next endeavor and the team here at Ripple looks forward to the next chapter where we will continue to pave the way in this ever-evolving and unchartered industry."
INTERESTING TIMES
- Llyr’s departure comes right in the middle of Ripple’s defense against many class action lawsuits, most of which claim Ripple is and should be regulated as a security
- Ripple CEO Brad Garlinghouse has furiously defended that Ripple is not a security and even claimed that the XRP ledger is more decentralized than the Bitcoin network on many measures
- Still, the Securities and Exchange Commission has yet to comment on the matter as it likely continues to research XRP
- The Los Angeles Dodgers, a U.S. professional baseball team, will hold a giveaway of crypto-based athlete tokens at the end of this month.
- French energy company Engie and business consulting group Maltem are launching a new blockchain development spinoff for commercial clients.
- Opera now allows users to send crypto collectibles, such as CryptoKitties, directly from its recently announced in-browser crypto wallet.
Today in Crypto is powered by coinmarketcal.com
Sat
noun
The smallest fraction of a bitcoin is called a “satoshi” or “sat”. It represents one hundred-millionth of a bitcoin and is named after Satoshi Nakamoto.
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