Singapore Turns to Bitcoin Mining

Singapore Turns to Bitcoin Mining

November 15, 2017

Many Singapore citizens have bot caught up with Bitcoin mining spil they look for a ‘,passive income’.

Mining and Crypto-Growth ter Singapore

Channel News Asia reported how one Singapore-based mining equipment manufacturer has seen a yam-sized increase te sales ter latest months spil the request for cryptocurrency mining computers has enhanced to more than 100 equipments vanaf month spil of this month.

There has also bot an increase ter rente on cryptocurrency exchanges such spil Coinhako and Quoine which have bot experiencing a double-digit growth ter the request for cryptocurrencies this year.

It is known that after the events of the ICO verbod Singapore is also the thickest country related to ICOs.

The meaty growth of the many digital currencies te 2017 has led to a high request for mining hardware not only te Singapore, but all around the world.

Many fresh investors have consequently helped pull the Bitcoin price spil it increases inbetween $6,000 and $7,000 ter mid-November 2017 from around $1,000 te January.

With this kleintje of growth, many people have turned to mining to generate a passive income and become involved te the cryptocurrency market with the growth rates displaying no signs of slowing down, so it is no verrassing that Singaporean citizens are just seizing an chance.

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December 15, 2017

After the launch of Bitcoin futures trading on the Chicago Houtvezelplaat Options Exchange, many people have commenced fresh debates surrounding the importance and the true potential of Bitcoin which includes a phat increase ter the Market Cap.

Bitcoin Skill

The total market cap has now gone beyond $500 bln, but there are still many people who don’t even know what Bitcoin is, so there may be a long way to go until it gets to be fully mainstream.

Ter the latest Keiser Report, Max said:

“People don’t understand that at its heart, Bitcoin is a messaging app very first, a store of value secondly and a medium of exchange third. The Satoshi whitepaper is a bit misleading because it leads off by calling Bitcoin digital specie.”

“That’s kleuter of misleading. It’s not indeed digital contant until it very first establishes itself spil a messaging app. Money and economics are the history of communication, trade and language. Language explodes onto the toneel, trade explodes onto the toneel, messaging apps explode onto the toneel and similarly Bitcoin has exploded onto the toneel.”

Bitcoin Value

Keiser also explained that Bitcoin has bot making its way into the $1 tln market cap for a long time, however, the very first week of futures trading has given Bitcoin a loterijlot more capacity for future value:

“It will create a thicker pipe for more money to flow into Bitcoin. Right now the pipe is puny, it’s a relatively minuscule market compared to the unie futures, currency futures and stock futures. $Five tln te forex vanaf day is the market. Bitcoin te that strijdperk is a pipsqueak.”

“By expanding thesis futures contracts and derivatives, bringing Wall Street and Chicago into the mix, your taking that petite straw which is an onramp for fiat into Bitcoin and your making it massively thicker.”

“The cryptocurrency market cap will top the trillion dollar level and kasstuk multi-trillion levels because it has this amazing quantum effect, pulling all the fiat money into the Bitcoin black slot store of value.”

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December 15, 2017

Miko Matsumura, the founder of crypto exchange, Evercoin, and one of the significant figures of the very first internet years, has bot active ter his support for the cryptocurrencies and the community around them, spil he acts spil an advisor to many ICOs.

The Cointelegraph sat down with him to ask him about his thoughts on the crypto-economy and the concerns about a bubble.

Matsumura Says

Cointelegraph: Do you think the crypto-economy is te a bubble?

Miko Matsumura: I believe the entire world economy is a much thicker bubble. But to be more concise, I think there are some things that make cryptocurrency a much more fragile bubble. So the variable that matters most is not bubble or no bubble, spil all economic activity can be viewed spil a bubble. The variable that matters the most is fragility, and fragility is always relative to specific threat screenplays involving a collapse.

CT: Could you explain a bit more about this fragility?

MM: One source of fragility is the inability to exchange cryptocurrencies for many useful things. Te particular ter economics there is something called a Keynesian accelerator, which is related to the healthy circulation of money te an economy. To waterput it simply, if a customer buys a loaf of bread from a baker, the baker can turn around and use that same money to fix his footwear, and the shoemaker, te turn, can then buy flowers from the flower seller. This is because money is widely accepted. One of the signs of fragility of cryptocurrencies is that they are almost entirely used to buy other cryptocurrencies, with a few notable exceptions such spil virtual non-fungible trading cats and of course the ubiquitous Bitcoin debit card which can be used to pay for most things.

CT: How can cryptocurrencies surmount this challenge?

MM: I am advising a company that is working on a crypto point-of-sale device that should enable people to buy everyday items te retail stores for cryptocurrencies. But until wij see a strong and useful interconnect inbetween the crypto economy and the “real” economy, wij will not practice economic stability for cryptocurrencies. One very significant form of exchangeability is the capability to pay taxes with cryptocurrency, which is only available te very few places. Another variable that could cause the bubble to “pop” could be a regulatory backlash by governments. This could be due to too many scams or significant harm coming to retail investors.

CT: What do you think about Blockchain tech and developments like ICOs?

MM: Te certain African countries, Zimbabwe for example, the local currency has failed the people. One man I met at a Bitcoin conference wasgoed handing out 50 tln dollar Zimbabwe bills. There are currencies (like Dala) that have the potential to reach many millions of underbanked Africans, and so I am thrilled by the potential of decentralization to lower the cost structure of delivering utility services to a much broader collection of people.

With Miko’s practice, it’s hard not to believe his ideas on ICO investment, but there will always be the debate: Bubble or no Bubble?

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December 15, 2017

According to Andrew Bailey, the head of the (FCA) Financial Conduct Authority, people should be getting ready to lose money spil he believes that Bitcoin’s latest success is just makeshift and it will eventually result te a bursting bubble.

Head of FCA Warns

He believes that the gigantic volatility that comes with cryptocurrencies will only result ter a dramatic plunge which will lead many people to end up with empty pockets.

“It’s not a currency, it’s actually not regulated te its Bitcoin form,”

“It’s a very volatile commodity ter terms of its pricing.

“If you look at what has happened this year, I would caution people. Wij know relatively little about what informs the price of Bitcoin.

“It’s an odd commodity spil well, spil the supply is motionless. If you want to invest te Bitcoin be ready to lose your money – that would be my serious warning.”

However, many people have criticized regulators including Mr Bailey’s organization for failing to keep up with the bitcoin ‘,revolution’, and permitting it to be used with almost no confinement at all.

The famous crypto has bot accused of permitting criminals to flourish since it can be used anonymously and without much oversight or security, permitting it to become a way of buying drugs and guns on the dark nipt.

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