Original author: Joon Ian Wong
Coin News
In the past two weeks several key companies in the bitcoin mining space have released updates regarding their latest ASIC developments. These announcements are no doubt welcome news to customers eagerly awaiting the next upgrades to their mines.
Academic interest in mining is also growing. New studies have come out dissecting various parts of the ecosystem, including an environmental report by researcher Hass McCook and one by security firm McAfee regarding the threat of mining botnets.
Indeed, these signs raise a key question: will industrial mining be the next big thing for bitcoin investors? If bitcoin’s rising difficulty is any indication – standing at 13,462,580,115 and primed to grow, according to BitcoinDifficulty.com – the next year could be a pivotal one for the mining industry.
So, as June winds to a close and many parts of the world – and a few mines – begin to heat up for the summer, let’s take a look at some of the latest happenings in the world of bitcoin mining.
Vault of Satoshi launches ‘divcoin’ mining
Toronto-based digital currency exchange Vault of Satoshi has launched a new revenue-generating feature to its cloud mining service called ‘dividend coin’, or divcoin.
Calling divcoin a “no-risk, no-obligation investment opportunity”, VoS is pitching the initiative as a new way to generate revenue in bitcoin. Each divcoin, according to the company, is worth 1 GH/s worth of mining. So, someone who owns 10 divcoins will receive daily payouts in bitcoin for the 10 GH/s of hashing power they control.
VoS is planning an initial launch phase of 5,000 divcoins. The company stated on its website that, should demand for divcoin increase, it will issue more, saying:
“As demand for divcoin rises, more coins will be available for purchase. To make this even more interesting, we will add the hardware before issuing more coins so that those currently invested will see an improved return for one to two days before we issue more coin.”
Additionally, VoS will host a divcoin market where traders and investors can buy and sell coins. While some may be concerned about the value of divcoin – considering the volatility inherent in any altcoin marketplace – the company said that all divcoin contracts will cease if mining becomes unprofitable.
Alpha Technology issues Viper update, unveils enclosure re-design
UK-based mining hardware manufacturer Alpha Technology has issued a new update on its upcoming Viper scrypt ASIC.
The company apologized for its infrequent updates to customers, but said that the development team is working hard in anticipation for the arrival of the Viper ASIC chips. Alpha originally announced that the ASIC tape-out had begun in April.
However, it said that the work is paying off, which the company said means that its customers will likely receive more powerful devices than previously expected.
Alpha stated on its official blog:
“In terms of the tweaks due to the increased hash rates: each board will now be 50Mh/s thus the 250Mh/s unit will have 5 boards and of course the 50Mh/s will have 1. 1.2Mh/s per chip was our original worst case figure but we now know each chip will be able to give 1.4Mh/s. A single one of our boards will have provision for 36 chips thus the boards will be slightly higher at a minimum of 50.4Mh/s possibly more we will know when we get the final chips and of course inform you.”
Additionally, the company said that it had reconfigured the Viper enclosure, and included schematics for the new design.
The company also stated that a more substantial update is pending, and issued a second apology to those who have been seeking contact with its payments team. Alpha added that it will begin contacting customers once it is able to begin processing payments, saying “we guarantee it will be before July”.
Bitmain announces specs for new 28nm chip
China-based bitcoin hardware maker Bitmain announced last week that it has begun testing its new 28nm chip, BM1382. According to a post on the Bitcoin Talk forum, the testing is going smoothly, with strong performance being reported during this phase.
The company said:
“BM1382 has achieved 15.75 Gh/s in hash performance, consuming less than 9.33 W on chip level at 0.75V. This means 0.59 J/GH on chip. If the core voltage is at 0.63V, the efficiency will be 0.40 J/GH on chip.”
The company added that this next generation of chips represents a substantial improvement over the previous serious, stating that “BM1382 represents a 20% power saving on its previous generation of 55nm chips and nearly 10 times of better physical densification”.
As well, Bitmain offered updated specs for the Antminer S3. It said that the mining hardware is capable of producing 504 GH/s, consuming roughly 390w. This, the company estimated, results in an efficiency rate of 0.77 J/GH.
Bitmain also announced that that sales for the Antminer S3 will open in the next few days on its official website, but stopped short of offering a set start date.
CloudHashing launches free contract giveaway
Cloud mining service CloudHashing is hoping to give one lucky Facebook user a free contract worth $999.
The company announced earlier today that it is holding a contest on its official Facebook page in order to drum up interest and support among users and potential customers. The contest runs through the next two weeks, with the winner being announced on 11th July, according to a press release.
In order to participate, users need to ‘like’ CloudHashing’s Facebook page. Additional entries can be gained by sharing the page with other users. The winner will be selected randomly by using a number generator, with each entry being assigned a number.
CloudHashing stated that there are no restrictions on applications, meaning that both new and existing customers are welcome to try and win the $999 mining contract. Facebook members who have already liked the page are being automatically entered into the contest, the company added.
BIOSTAR pitches new mining-ready motherboard
Since bitcoin mining took off in popularity in the past year and a half, computer hardware manufacturers of all stripes have sought to pick up some of the businesses the mining community has brought. This includes motherboard manufacturers, who are pitching their products to both bitcoin and altcoin miners.
Hardware maker BIOSTAR recently released its TB85 Ver. 6.x motherboard, which is geared for high-performance activity that includes specifically bitcoin mining. The motherboard sports a total of six PCI-E slots, making it a solid choice for those building their latest rig.
The TB85 carries support for the fourth-generation Intel Core i7 and i5 processors. The motherboard offers SATAIII 6 Gbps data transfer speeds, as well as range of security and performance-enhancing capabilities. Like many motherboards geared for bitcoin mining, the TB85 can also be purposed for high-performance gaming and graphics design work.
This motherboard isn’t BIOSTAR’s step into the bitcoin mining realm. In March, the company released a 64-chip mining board, the BTC-24GH, that released to some underwhelming reviews.
One reviewer, Hardwareluxx.com, said: “all in all, the only thing that’s left to say is that the BIOSTAR BTC-24GH unfortunately comes too late and is too slow.”
With the TB85 still fresh in the market, it remains to be seen whether BIOSTAR’s efforts to make inroads in the mining community will be successful.
Got a cryptocurrency mining tip for future roundups? Contact us.
Disclaimer: This article should not be viewed as an endorsement of any of the companies mentioned. Please do your own extensive research before considering investing any funds in these products.
Alpha TechnologyBitmaincloud miningCloudhashingHashFastMining Roundup
VoS is planning an initial launch phase of 5,000 divcoins. The company stated on its website that, should demand for divcoin increase, it will issue more, saying:
“As demand for divcoin rises, more coins will be available for purchase. To make this even more interesting, we will add the hardware before issuing more coins so that those currently invested will see an improved return for one to two days before we issue more coin.”
Additionally, VoS will host a divcoin market where traders and investors can buy and sell coins. While some may be concerned about the value of divcoin – considering the volatility inherent in any altcoin marketplace – the company said that all divcoin contracts will cease if mining becomes unprofitable.
Alpha Technology issues Viper update, unveils enclosure re-design
UK-based mining hardware manufacturer Alpha Technology has issued a new update on its upcoming Viper scrypt ASIC.
The company apologized for its infrequent updates to customers, but said that the development team is working hard in anticipation for the arrival of the Viper ASIC chips. Alpha originally announced that the ASIC tape-out had begun in April.
However, it said that the work is paying off, which the company said means that its customers will likely receive more powerful devices than previously expected.
Alpha stated on its official blog:
“In terms of the tweaks due to the increased hash rates: each board will now be 50Mh/s thus the 250Mh/s unit will have 5 boards and of course the 50Mh/s will have 1. 1.2Mh/s per chip was our original worst case figure but we now know each chip will be able to give 1.4Mh/s. A single one of our boards will have provision for 36 chips thus the boards will be slightly higher at a minimum of 50.4Mh/s possibly more we will know when we get the final chips and of course inform you.”
Additionally, the company said that it had reconfigured the Viper enclosure, and included schematics for the new design.
The company also stated that a more substantial update is pending, and issued a second apology to those who have been seeking contact with its payments team. Alpha added that it will begin contacting customers once it is able to begin processing payments, saying “we guarantee it will be before July”.
Bitmain announces specs for new 28nm chip
China-based bitcoin hardware maker Bitmain announced last week that it has begun testing its new 28nm chip, BM1382. According to a post on the Bitcoin Talk forum, the testing is going smoothly, with strong performance being reported during this phase.
The company said:
“BM1382 has achieved 15.75 Gh/s in hash performance, consuming less than 9.33 W on chip level at 0.75V. This means 0.59 J/GH on chip. If the core voltage is at 0.63V, the efficiency will be 0.40 J/GH on chip.”
The company added that this next generation of chips represents a substantial improvement over the previous serious, stating that “BM1382 represents a 20% power saving on its previous generation of 55nm chips and nearly 10 times of better physical densification”.
As well, Bitmain offered updated specs for the Antminer S3. It said that the mining hardware is capable of producing 504 GH/s, consuming roughly 390w. This, the company estimated, results in an efficiency rate of 0.77 J/GH.
Bitmain also announced that that sales for the Antminer S3 will open in the next few days on its official website, but stopped short of offering a set start date.
CloudHashing launches free contract giveaway
Cloud mining service CloudHashing is hoping to give one lucky Facebook user a free contract worth $999.
The company announced earlier today that it is holding a contest on its official Facebook page in order to drum up interest and support among users and potential customers. The contest runs through the next two weeks, with the winner being announced on 11th July, according to a press release.
In order to participate, users need to ‘like’ CloudHashing’s Facebook page. Additional entries can be gained by sharing the page with other users. The winner will be selected randomly by using a number generator, with each entry being assigned a number.
CloudHashing stated that there are no restrictions on applications, meaning that both new and existing customers are welcome to try and win the $999 mining contract. Facebook members who have already liked the page are being automatically entered into the contest, the company added.
BIOSTAR pitches new mining-ready motherboard
Since bitcoin mining took off in popularity in the past year and a half, computer hardware manufacturers of all stripes have sought to pick up some of the businesses the mining community has brought. This includes motherboard manufacturers, who are pitching their products to both bitcoin and altcoin miners.
Hardware maker BIOSTAR recently released its TB85 Ver. 6.x motherboard, which is geared for high-performance activity that includes specifically bitcoin mining. The motherboard sports a total of six PCI-E slots, making it a solid choice for those building their latest rig.
The TB85 carries support for the fourth-generation Intel Core i7 and i5 processors. The motherboard offers SATAIII 6 Gbps data transfer speeds, as well as range of security and performance-enhancing capabilities. Like many motherboards geared for bitcoin mining, the TB85 can also be purposed for high-performance gaming and graphics design work.
This motherboard isn’t BIOSTAR’s step into the bitcoin mining realm. In March, the company released a 64-chip mining board, the BTC-24GH, that released to some underwhelming reviews.
One reviewer, Hardwareluxx.com, said: “all in all, the only thing that’s left to say is that the BIOSTAR BTC-24GH unfortunately comes too late and is too slow.”
With the TB85 still fresh in the market, it remains to be seen whether BIOSTAR’s efforts to make inroads in the mining community will be successful.
Got a cryptocurrency mining tip for future roundups? Contact us.
Disclaimer: This article should not be viewed as an endorsement of any of the companies mentioned. Please do your own extensive research before considering investing any funds in these products.
Alpha TechnologyBitmaincloud miningCloudhashingHashFastMining Roundup
Original author: Stan Higgins
Inside Bitcoins Hong Kong took place this week in the Special Administrative Region of China that has so far proved to be one of the more permissive places in Asia for bitcoin entrepreneurs.
Following the heavy media controversy generated by the ultimately successful Beijing-based Global Bitcoin Summit in May, Inside Bitcoins Hong Kong featured a number of influential speakers from China’s bitcoin community, including Huobi CEO Leon Li, OKCoin CEO Star Xu and keynote speaker and BTC China CEO Bobby Lee.
Though smaller in scale than the Global Bitcoin Summit, Inside Bitcoins Hong Kong saw more international attendees than its predecessor and overall succeeded at increasing awareness of emerging China-based bitcoin companies with enthusiasts abroad.
Prominent international members of the community, including Ethereum founder Vitalik Buterin, Hive CEO Wendell Davis and BitAngels chairman Michael Terpin were also in attendance for panels covering topics such as bitcoin investment, the rise of altcoins and more.
The event itself produced big announcements from bitcoin ATM operator Bitcoinnect and bitcoin wallet specialist Hive, which introduced its web wallet during the event.
Despite these big names, the exhibition may have been the highlight as it connected exhibitors in a tight-knit environment that allowed for discussion between attendees and visitors.
Asia’s bitcoin mining ecosystem may have seen the most success, however, as some attendees successfully secured equipment sales at the event.
For more on China’s emerging bitcoin mining ecosystem and its increasingly powerful players, read our most recent report.
Additional reporting by Betty Zhang; Images courtesy of Bitell
Asian lantern image via Shutterstock
AsiaBTC ChinaChinaeventsHong KongHuobiInside Bitcoins
Original author: Pete Rizzo
Original author: Nermin Hajdarbegovic
Justin Zimmerman leads business development at Black & White Technologies (BWT), which works on merchant acceptance, remittance and smart contracts in the cryptocurrency space, and also consults on Japanese-Israeli market entry.
Israeli startup DNA.Bits has announced plans to store genetic and medical record data using block chain technology similar to that which underpins the bitcoin network.
The novel concept will make the genetic information fully accessible to the researchers who need it, while using strong private keys to maintain digital DNA-wallet privacy and individual anonymity.
Dror Sam Brama, DNA.Bits’ CEO, is a local leader in a global revolution to give medical patients an unprecedented level of privacy, access and control over their personal medical records and genetic data – while simultaneously making the genetic data of the human race accessible to all.
Hospitals will still be able to monetize that patient data, meaning healthcare systems will be better equipped to heal patients, and by receiving access to such data, pharmaceutical companies will be able to produce superior drugs.
Monetizing the data
Patient data would live on a ‘side chain’, and when there is a need for a monetary transaction, it would move onto the ‘main’ (ie: bitcoin) blockchain.
Possible revenue streams for DNA.Bits would be licensing of the platform to data hosts, or a percentage of the contracts that run on the platform. There could also be market-maker revenues from the connections between holders of medical data, holders of genetic data, health organizations and consumers.
Brama sees the company’s potential customers as the holders of those records and anyone conducting research, whether they be genetics companies, pharmaceutical companies, academic institutions or government public health departments.
The global pharmaceutical market is now worth $1tn. In the US, close to 20% of drugs are bioengineered products and, every year, the specialized genetic medicine market grows by 18%.
Game changer
The pharmaceutical industry, in addition, is enormously hungry for patient genetic and medical-record data. DNA.Bits is building a system to funnel that data to the researchers who need it, but in a way that prevents patient privacy rights from being trampled.
Smadar Horowitz-Cederboim from The Jerusalem Center for Genetics and Society (JCGAS), said:
“The ability to cross reference large sets of dynamic medical and genetic records anonymously is a game changer in the fields of drug discovery, personalized medicine and genetic counseling.”
Saving lives
Dr. Efrat Levy-Lahad from the Shaare Zedek Genetics Institute said, in Israel, approximately 1,000 women die from breast cancer every year, for example. With a nationwide DNA screening and analysis programme, experts at Jerusalem’s Department of Medical Genetics at Shaare Zedek Medical Center estimate that up to 200 lives could be saved annually.
What holds true for breast cancer in Israel is also applicable to countless other diseases across the world. The main stumbling block for such programmes, though, is the question of privacy.
Patients, of course, have no reason to trust governmental agencies, hospitals, insurance companies, healthcare companies, pharmaceutical firms, or even non-profits with their private data.
The beauty of block chain technology is that it enables the building of ‘trustless systems’ that remove the need for patients to put their faith in institutions or individuals.
Innovating around the block chain
Israel is probably the perfect place for a project like DNA.Bits to get off the ground. The country is often regarded as one of the most innovative on the planet. This is true for technology in general, but these days it is also being applied to the nascent field of block chain technology.
It’s not just about novel digital currencies, either – Israel was one of the first communities to lead the surge into use of the block chain for non-currency focused activity.
So far Israel has given the world the mastercoin protocol, the colored coins project, Xennet, Lazooz, along with some academic innovation for online privacy, such as ZeroCash, Ghost, and Snark.
Elsewhere, other companies are also employing block chain tech outside of the world of finance.
CoinDesk recently reported on how Proof of Existence is allowing content providers to publish their work on a block chain to protect their intellectual property rights. Even digital democracy could be revolutionised by using an altcoin called votecoin to hash and verify votes.
Image via Creations / Shutterstock
block chainDNAIsraelmedicineMiddle Eastresearch
Israeli startup DNA.Bits has announced plans to store genetic and medical record data using block chain technology similar to that which underpins the bitcoin network.
The novel concept will make the genetic information fully accessible to the researchers who need it, while using strong private keys to maintain digital DNA-wallet privacy and individual anonymity.
Dror Sam Brama, DNA.Bits’ CEO, is a local leader in a global revolution to give medical patients an unprecedented level of privacy, access and control over their personal medical records and genetic data – while simultaneously making the genetic data of the human race accessible to all.
Hospitals will still be able to monetize that patient data, meaning healthcare systems will be better equipped to heal patients, and by receiving access to such data, pharmaceutical companies will be able to produce superior drugs.
Monetizing the data
Patient data would live on a ‘side chain’, and when there is a need for a monetary transaction, it would move onto the ‘main’ (ie: bitcoin) blockchain.
Possible revenue streams for DNA.Bits would be licensing of the platform to data hosts, or a percentage of the contracts that run on the platform. There could also be market-maker revenues from the connections between holders of medical data, holders of genetic data, health organizations and consumers.
Brama sees the company’s potential customers as the holders of those records and anyone conducting research, whether they be genetics companies, pharmaceutical companies, academic institutions or government public health departments.
The global pharmaceutical market is now worth $1tn. In the US, close to 20% of drugs are bioengineered products and, every year, the specialized genetic medicine market grows by 18%.
Game changer
The pharmaceutical industry, in addition, is enormously hungry for patient genetic and medical-record data. DNA.Bits is building a system to funnel that data to the researchers who need it, but in a way that prevents patient privacy rights from being trampled.
Smadar Horowitz-Cederboim from The Jerusalem Center for Genetics and Society (JCGAS), said:
“The ability to cross reference large sets of dynamic medical and genetic records anonymously is a game changer in the fields of drug discovery, personalized medicine and genetic counseling.”
Saving lives
Dr. Efrat Levy-Lahad from the Shaare Zedek Genetics Institute said, in Israel, approximately 1,000 women die from breast cancer every year, for example. With a nationwide DNA screening and analysis programme, experts at Jerusalem’s Department of Medical Genetics at Shaare Zedek Medical Center estimate that up to 200 lives could be saved annually.
What holds true for breast cancer in Israel is also applicable to countless other diseases across the world. The main stumbling block for such programmes, though, is the question of privacy.
Patients, of course, have no reason to trust governmental agencies, hospitals, insurance companies, healthcare companies, pharmaceutical firms, or even non-profits with their private data.
The beauty of block chain technology is that it enables the building of ‘trustless systems’ that remove the need for patients to put their faith in institutions or individuals.
Innovating around the block chain
Israel is probably the perfect place for a project like DNA.Bits to get off the ground. The country is often regarded as one of the most innovative on the planet. This is true for technology in general, but these days it is also being applied to the nascent field of block chain technology.
It’s not just about novel digital currencies, either – Israel was one of the first communities to lead the surge into use of the block chain for non-currency focused activity.
So far Israel has given the world the mastercoin protocol, the colored coins project, Xennet, Lazooz, along with some academic innovation for online privacy, such as ZeroCash, Ghost, and Snark.
Elsewhere, other companies are also employing block chain tech outside of the world of finance.
CoinDesk recently reported on how Proof of Existence is allowing content providers to publish their work on a block chain to protect their intellectual property rights. Even digital democracy could be revolutionised by using an altcoin called votecoin to hash and verify votes.
Image via Creations / Shutterstock
block chainDNAIsraelmedicineMiddle Eastresearch
Original author: Justin Zimmerman
Original author: Jon Southurst
The company has also attracted talent from the payments industry. In May its ranks were bolstered by a former senior manager at PayPal and an analyst from SecondMarket.
Bloomberg’s position hasn’t evolved much Although Bloomberg started providing bitcoin prices through its professional service earlier this year, the financial services giant remains tight-lipped about the currency. The move was viewed as a key stamp of approval for bitcoin, but Bloomberg took a very conservative, even cautious approach. At the time Bloomberg emphasised that it was not endorsing or guaranteeing bitcoin, pointing out that the currency could be the biggest tech innovation since the internet, or just another crash-and-burn fad. The company also added the Winklevoss’ bitcoin price ticker to its service earlier this month, under ‘WINKBTCO’. bloombergitBit
Original author: Nermin Hajdarbegovic
Original author: Joon Ian Wong