Blog

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Jul 28 2019 Our News Charlie Walsh, Client Manager

We are back!

Dear clients, we strongly apologize for the inconvenience. For reasons beyond our control our server room was sealed by police during the arson investigation. Now we got it back, but some problems may occur in the few coming days. Please keep in mind that this is a matter only of displaying the website and the mining process continues in the conventional mode. 

We will credit a special bonus for all clients with "Investor" status or higher.

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Jul 25 2019 Our News Charlie Walsh, Client Manager

Server troubleshooting

Dear clients, yesterday we had a really bad day.

There was a fire that affected our server. We struggled with fire, but sometimes there is nothing humans can do with the forces of nature.

We concentrate all our efforts on the restoration of site accessibility. 

Mining equipment and customer accounts, as well as gained profit amounts and withdrawals were not affected, but the site is still very slow. Some users even are unable to reach the site at all. 

We are aware of that and now we are working hard to fix the problem!

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Jul 20 2019 Investments Charlie Walsh, Client Manager

Bitcoin ATM Firm LibertyX Expands Locations via New Partnership

LibertyX, the firm that launched America’s first Bitcoin (BTC) automated teller machine (ATM), will add 90 new machines to its network.

In order to expand the network, Boston-based LibertyX has partnered with independent ATM operator DesertATM, according to a report by global ATM market publication ATMmarketplace on July 18.

As a part of the partnership, DesertATM will upload LibertyX on 90 of its Genmega ATMs to enable Bitcoin operations. New Bitcoin ATM locations will include gas stations such as AMPM, ARCO & Chevron, as well as Family Dollar retail stores, the press release notes.

In October 2018, LibertyX teamed up with Genmega, an ATM supplier serving the Independent ATM Deployment market, to allow users to use their debit cards to purchase Bitcoin at any BTC-enabled Genmega machine.

LibertyX CEO Chris Yim stated that the company has been making partnerships with ATM operators that already have locations to offer LibertyX services on their machines. According to Yim, the firm’s network now spans across 43 states and allows users to buy Bitcoin from a cashier or ATM using their debit card or a kiosk, with a limit of $3,000 of Bitcoin at a time.

As previously reported, LibertyX obtained a BitLicense issued by the New York State Department of Financial Services in January 2019 alongside stock and crypto trading app Robinhood .

Recently, Canadian exchange Coinsquare announced that they acquired software allowing traditional ATMs to sell cryptocurrencies such as Bitcoin. The news came amid a report of a potential ban on Bitcoin ATMs in Vancouver over money laundering concerns. 

Original: https://cointelegraph.com/news/bitcoin-atm-firm-libertyx-expands-locations-via-new-partnership

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Jul 20 2019 Mining Charlie Walsh, Client Manager

Bitcoin an ‘Unstoppable Force’ US Congressman Tells

Bitcoin’s (BTC) plight in Congress has seen attention focus mainly on naysayers, but this week’s hearing also saw United States politicians accept it was always beyond their control.

‘Governments cannot stop this innovation’

During testimony on July 17, U.S. Congressman Patrick McHenry, who represents North Carolina’s10th District, told lawmakers directly that attempts to stop Bitcoin were futile.

“The world that Satoshi Nakamoto, author of the Bitcoin whitepaper envisioned, and others are building, is an unstoppable force,” he said.

McHenry runs in sharp contrast to other Congressmen making the headlines over Bitcoin, with Brad Sherman again gaining the spotlight after making dubious claims about cryptocurrency’s role in crime.

Others broadly failed to draw a distinction between Bitcoin and permissioned digital currencies, specifically Facebook’s Libra project, which formed the initial basis for the hearings.

For McHenry, however, legislation or not, Bitcoin will prevail. If it were possible to shut it down, he implied, an adversary would have already done so at some point since its 2009 inception.

“We should not attempt to deter this innovation; governments cannot stop this innovation, and those that have tried have already failed,” he continued.

Nations coming to grips with crypto

As Cointelegraph reported, the Congressional hearings came as other states are currently coming to grips with the first incarnation of their regulation of Bitcoin and other decentralized cryptocurrencies.

Notably, India this week confirmed it was working on official guidelines after a scandal involving what some accepted as a draft law banning cryptocurrency outright appeared earlier.

The fallout of the document, which mandated prison sentences for Bitcoin users, resulted in billionaire investor Tim Draper calling the Indian government “pathetic and corrupt.”

Original: https://cointelegraph.com/news/bitcoin-an-unstoppable-force-us-congressman-tells-crypto-hearing

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Jul 20 2019 Worldwide Charlie Walsh, Client Manager

China Ruling Bitcoin Is Property Again Is ‘Major Milestone’

Bitcoin (BTC) has gained legal recognition by a second Chinese court in a further boost for the cryptocurrency in one of its harshest environments.

A watershed for Bitcoin in China

According to investor Dovey Wan, who linked to local media coverage, the Hangzhou Internet Court formally described Bitcoin as virtual property on July 18. 

The second such court to attribute property status to Bitcoin, the ruling came about as part of a dispute between a now-defunct exchange and one of its users who lost funds. 

For Wan, the case marks a significant watershed for Bitcoin in China, where a blanket ban on trading it has been in place since September 2017. 

BTC/USD rallied sharply Friday on the back of positive comments from United States lawmakers, but China likely also influenced the return to form.

“This case is a major milestone that manifested BITCOIN IS ACTUALLY LEGAL in China,” she wrote on Twitter. 

‘It’s virtual property, but not fiat money’

As Cointelegraph reported, China has long formed a curious focus for Bitcoin analysts despite the state-imposed moratorium on using it. As Bitcoin staged a comeback in 2019, evidence began emerging that consumers were finding alternative on-ramps to traditional exchanges, such as purchasing stablecoin Tether (USDT) via over-the-counter deals.

According to local English-language news outlet Global Times, China’s central bank, the People’s Bank of China (PBoC) — which imposed the 2017 ban — did not explicitly disagree with the Hangzhou decision.

“Indeed, Bitcoin is virtual property, but it's not fiat money,” a PBoC official with the surname Li told the publication Friday.

The comments nonetheless come in stark contrast to the state’s perspective on Facebook’s Libra digital currency project, with officials saying they were concerned and had even begun developing a digital currency of their own.

Original: https://cointelegraph.com/news/china-ruling-bitcoin-is-property-again-is-major-milestone-says-investor

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Jul 19 2019 Our News Charlie Walsh, Client Manager

Anti-fraud check reveals tons of swindlers

Dear customers, ladies and gentlemen, we have reviewed each account individually for violations of PowerHash's terms. This check revealed an enormous amount of swindlers who fraudulently tried to create multiple accounts and abuse our referral system. We remind you that creating multiple accounts from 1 IP address is prohibited, as well all you are not allowed to use bots to create multiple accounts to withdraw funds from the free 10 GH/s. Now each of these accounts is permanently banned and lost the opportunity to mine with PowerHash.

Please keep in mind that we have well-established anti-fraud system! 

 

We also remind you, that conscientious users will have more benefits in the future. 

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Jul 13 2019 Worldwide Charlie Walsh, Client Manager

Brazilian State Launches Blockchain Platform for Government Contract Bids

In Brazil, the state of Bahia has launched a blockchain application to track the process of public bidding on government contracts, according to a report by Cointelegraph Brazil on July 12.

The blockchain-based solution, called Online Bid Solution (SOL), was reportedly developed by Cayenne Technology and Design. Bids will reportedly be completely transparent and secure due with the application of blockchain tech.

According to Bahia government, the intended beneficiaries of SOL appear to be the Brazilian agriculture industry. The solution is designed to help connect agriculture organizations in Bahia with suppliers and workers throughout Brazil, as well as provide transparency on the contract bidding process. The state of Bahia said that there are over 1,000 organizations projected to use SOL:

“The application, already available in the Play Store and the Apple Store, will be used by about 1,100 agricultural associations and cooperatives in the states of Bahia and Rio Grande do Norte, under the Bahia Productive and Governo Cidadão, financed through a loan agreement between the state governments and the World Bank.”

As previously reported by Cointelegraph, Brazilian coffee farming cooperative Minasul announced plans to issue a blockchain token for coffee farmers. Farmers will reportedly be able to earn tokens as a reward for harvesting coffee beans, and use the proceeds to purchase a variety of goods. This is a useful economic system for the farmers, since this method of financing does not require registration in a notary’s office, according to the report.

 

Original: https://cointelegraph.com/news/brazilian-state-launches-blockchain-platform-for-government-contract-bids

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Jul 13 2019 Worldwide Charlie Walsh, Client Manager

Trump Tweeting About Bitcoin Is ‘Achievement Unlocked’

Donald Trump saying he is not a fan of Bitcoin (BTC) and cryptocurrency is “yuge” for the industry, commentators were suggesting after new tweets on July 12.

In the hours after the United States’ president delivered his lackluster appraisal of crypto, the Bitcoin price stayed stable, only to then begin growing to hit 1% gains Friday. 

Negative or not, for proponents, the event marked a psychological milestone for Bitcoin, as Trump had previously held off from mentioning it in public. 

The fact that he felt the need to bash Bitcoin publicly feeds the narrative that it is both independent of global powers and unable to be crushed by them, Coinbase CEO Brian Armstrongstated, leading the responses.

“Achievement unlocked! I dreamt about a sitting U.S. president needing to respond to growing cryptocurrency usage years ago. ‘First they ignore you, then they laugh at you, then they fight you, then you win.’ We just made it to step 3 y'all,” he tweeted.

Armstrong exemplified the buoyant mood among Bitcoiners. Others likewise thanked Trump for the free publicity, noting a surge in interest documented by Google Trends, while the president being wrong in his opinion also became a talking point on social media. 

“Congratulations BTC community — the president of the United States feels we are worthy of a tweet now,” cryptocurrency entrepreneur, Simon Dixon, added. “Bitcoin has outperformed USD by 23,440,508% since it started being priced in USD.” 

Max Keiser, the RT host and regular Bitcoin bull, considered Trump to have nullified his chances of reelection in 2020, while eToro senior analyst, Mati Greenspan, described his words as an “early nomination for the most bullish tweet of the year.” 

Despite the conversely more stable price performance since the tweets, the possibility of a ‘Trump pump’ occurring for Bitcoin was also gaining traction among analysts.

“Trump is bullish for Bitcoin generally because his media tactics wobble geo-political uncertainty. Thanks for all the dollars flowing into Bitcoin,” cryptographer and Hashcash inventor, Adam Back, added.

In the meantime, another, lesser-known cryptocurrency took the opportunity to capitalize on the buzz. TrumpCoin (TRUMP), an altcoin all but unknown since it appeared in March 2016, was up 28% Friday.

 

Original: https://cointelegraph.com/news/bitcoin-industry-celebrates-achievement-unlocked-as-trump-pumps-market

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Jul 9 2019 Mining Charlie Walsh, Client Manager

Bitcoin’s Mining Difficulty Just Posted Its Biggest Increase Since 2018.

Bitcoin mining difficulty – a measure of how hard it is to compete for mining rewards on the world’s first blockchain network – has posted its largest two-week increase in 12 months.

According to BTC.com data, mining difficulty reached 9.06 trillion (T) at block height 584,640 around 9:17 UTC on July 9, surpassing the previous record of 7.93 T by 14.23 percent. This was the strongest growth in any two-week period since August 2018 – a sign that competition among miners is not only intensifying but doing so at an accelerated rate.

The bitcoin network is designed to adjust its mining difficulty every 2,016 blocks (roughly 14 days) based on the participating mining power in each cycle, in order to ensure the block-producing time at the next period stays at about every 10 minutes.

When there are fewer machines competing to solve bitcoin’s hash function to earn newly created bitcoin, the difficulty will fall; when more players jump in, it rises.

Competition right now is so fierce, mining difficulty has leapfrogged the entire range of eight trillion to break the threshold of nine trillion. The estimated difficulty by BTC.com at the next adjustment period could be as high as 10.35 T, which would be another 14.17 percent increase.

Bitcoin mining difficulty

Similarly, the amount of computing power devoted to securing the bitcoin network has also logged the biggest growth of any two-week difficulty adjustment cycle since August 2018, based on BTC.com data and CoinDesk’s calculations.

Enthusiasm for bitcoin mining has pushed the hash rate to as high as 74.5 quintillion hashes per second (EH/s) as of July 5, in line with predictions by mining farms in China that have been plugging in machines to take advantage of cheap hydroelectric power during the rainy summer season.

The total hashing power is expected to continue rising as the peak rainy season is still months away in southwestern China, an area that is estimated to account for half of bitcoin’s global mining production.

Boom and bust

Bitcoin mining difficulty took a significant hit last year amid the market downturn. It dropped as much as 30 percent from October to December and only got back to the previous high last month.

That said, the increases in bitcoin’s hash rate and mining difficulty have not yet caught up with the pace of bitcoin’s price jump, at least not as much as they did in the bull run during the second half of 2017.

According to CoinDesk’s Bitcoin Price Index data, bitcoin’s price surged by 400 percent from around $4,000 to nearly $20,000 between June and December 2017. During the same period, the network’s computing power grew by at least 200 percent.

However, while bitcoin’s price has shot up to as much as $12,000 in June – a 300-percent jump since it fell to $3,000 early this year – the network hash rate has only increased by 100 percent over the same period.

The reason for this lag is an insufficient supply of new bitcoin mining equipment to meet the market’s demand since major miner makers are hitting a bottleneck of production capacity resulting from a limited supply of chips from semiconductor vendors.

Original: https://www.coindesk.com/bitcoin-mining-difficulty-posts-biggest-jump-in-12-months

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Jul 7 2019 Our News Charlie Walsh, Client Manager

Email sending issues fixed.

Dear customers, all problems with the mail server have been solved. You can turn on 2FA via email now. We apologize for any inconvenience.

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Jul 5 2019 Trading Charlie Walsh, Client Manager

Litecoin Outperforms Top-10 Cryptos Ahead of August Reward Halving

With the supply of new coins to be halved in less than five weeks, litecoin is outpacing its peers.

The fourth-largest cryptocurrency by market capitalization is currently trading at $123, representing 5 percent gains on a seven-day basis, according to data source CoinMarketCap.

Meanwhile, bitcoin, the top cryptocurrency by market value, is currently reporting a meager 1 percent gain on a weekly basis. Other top-10 cryptocurrencies are trading mixed as seen in the table below.

Weekly and year-to-date performance of the top-10 cryptocurrencies

• Cardano, down 10 percent, is the worst performing top-10 cryptocurrency over the last seven days.

• ETH, XRP, BCH, and EOS are flashing red.

• Binance coin is up a staggering 481 percent on a year-to-date basis, followed by litecoin, up 305 percent. Litecoin’s recent relatively shining performance could be associated with the mining reward halving due on Aug. 6 this year.

The process is aimed at curbing inflation by reducing the coins paid out for mining on litecoin’s blockchain by half. So, after Aug. 6, miners will get 12.5 coins for every block mined – down 50 percent from the current reward of 25 coins.

Essentially, miners will be adding fewer coins to the ecosystem, likely leading to less in circulation. The impending supply cut might have helped LTC outperform its peers in the last seven days.

While it is logical to expect the cryptocurrency to rise further in the run-up to the event, the upside looks limited. After all, LTC has already witnessed phenomenal growth in both price and non-price metrics so far this year, and is currently up more than 300 percent on a year-to-date basis.

Meanwhile, litecoin’s hash rate, or computing power dedicated to mining, rose to a record high of 468.1019 TH/s this week. Notably, the metric is currently up 220 percent from the low of 146.2118 TH/s seen in December.

All-in-all, the market may have largely priced in the reward halving already. In fact, if history is a guide, the probability of LTC witnessing a sharp pullback in the run-up to the Aug. 6 event is high.

It is worth noting that LTC had nosedived from $8.72 to $2.55 in 6.5-weeks leading up to the previous reward halving, which took place on Aug. 25, 2015.

Technical charts are also signaling scope for a near-term price drop. 3-day chart

While the bullish higher lows, higher highs pattern is intact, the relative strength index (RSI) is reporting a bearish divergence and the 5- and 10-candle moving averages have produced a bearish crossover.

As a result, the price risks falling to the 200-candle MA, currently at $221. A violation there would expose the 50-candle MA, currently at $83.00.

On the higher side, a high-volume break above $140 is needed to expose the next major resistance lined up at $182 (May 2018 high).

Original: https://www.coindesk.com/litecoin-outperforms-top-10-cryptos-ahead-of-august-reward-halving

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Jul 5 2019 Our News Charlie Walsh, Client Manager

Mail server troubleshooting

Dear customers, due to the large amount of requests, we faced the fact that the processing of letters can take a long time. You still can contact PowerHash® support team through ticket form for faster communication.
We apologize for any inconveniences and thank you for your understanding.

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Jul 1 2019 Our News Charlie Walsh, Client Manager

Beta testing finished!

PowerHash® has finished its beta testing round as of the 24th of June. We've got huge amount of feedback and now we are working on preparing PowerHash® cloud mining service for launch.
We are currently expecting PowerHash® cloud mining service release in the first week of July. Sign up for our newsletter in the bottom of this page to be the first to know when we hit release!

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Jun 26 2019 Worldwide Charlie Walsh, Client Manager

6 Surprising Takeaways From Bitcoin’s 2019 Bull Run

Bitcoin (BTC) rising above $10,000, $11,000 and $12,000 surprised everyone in 2019 - but the takeaways from this year’s surge makes for unbelievable reading. As Cointelegraph reported, this year’s bitcoin price action has little in common with 2017 - the last time a parabolic advance occurred. Instead, the current cycle is giving investors serious reasons to celebrate.

1. Bitcoin Already Quadrupled From its Bear Market ‘Floor’

Since November 2018, when turbulence from the bitcoin cash (BCH) hard fork hit markets, BTC/USD has recovered three times over.  At the time, the pair hit its lowest point in a bear market which had lasted 11 months - around $3,130. Just seven months later, bitcoin is topping out at $12,800. The past three months - since the ‘major’ phase of the bull run began - has seen BTC/USD gain an astonishing $9,000. 

2. $11,000 Per Bitcoin is ‘Fairly Valued’

Parabolic price moves tend to trigger worry as well as rejoicing. According to one analyst, however, even despite the $9,000 leg-up, Bitcoin in fact remains appropriately priced. According to Bloomberg journalist Tracy Alloway, creator of a bitcoin price index based on - of all things - avocados, current BTC/USD levels show appropriate correlation.  Bitcoin has shared surprisingly similar behavior with Mexican Hass avocados during a mutual bear market.  “Bitcoin remains fairly valued according to my avocado-based pricing model, even after rising past $11,000,” Alloway summarized.

3. Bitcoin and Avocados Soar As Dollar Crashes Under 10,000 Satoshis

If roughly the same number of avocados will net you a bitcoin, the same certainly cannot be said about the US dollar. A chart currently circulating on social media capture the moment when 1 USD no longer corresponded to 10,000 satoshis, bitcoin’s smallest increment.  In January this year, $1 could have netted almost 30,000 satoshis.

4. The ‘Kimchi Premium’ Is At $13,000

As the bull run continues, questions are being asked about its source. As Cointelegraph previously reported, Asian markets appear particularly actively involved in Bitcoin this year, reversing a trend from 2018.  Among these, the so-called ‘Kimchi Premium’ - a phenomenon where South Korean traders pay more for bitcoin in fiat terms - remains conspicuous this week.  According to exchange data, the price of bitcoin on major South Korean platforms has already passed $13,000. 

5. Bitcoin’s Hash Rate Is Stronger And More Secure Than Ever

As previously mentioned, strong bitcoin network fundamentals provided the backdrop to sustained price gains.  Among these, the total network hash rate continues breaking records on an almost daily basis in June.  In the words of Hodlonaut, the Twitter user who returned to the platform amid a legal battle with infamous self-proclaimed Bitcoin creator, Craig Wright, bitcoin “won” after reversing its hash rate downturn. 

6. Will Bitcoin Continue to Surprise the Market?

Given the speed of its gains, the future for BTC/USD remains uncertain. According to one popular analyst Filb Filb, the historic trend should ultimately spark a price correction to around $9,500.  First, however, markets could easily run to $16,000 or even higher.  He said:  This would mean that although bitcoin is in the final leg of this run, it could still top out at 16k before a correction to somewhere around $9.5k. This would meet the criteria of surprising the market, which is what bitcoin does best, he adds. Original: https://cointelegraph.com/news/6-surprising-takeaways-from-bitcoins-2019-bull-run

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Jun 26 2019 Worldwide Charlie Walsh, Client Manager

Bitcoin Price Could See $20K in Two Weeks - $100K This Year, Predicts Market Analyst

Bitcoin (BTC) prices could match their all-time high of $20,000 within the next two weeks — and could hit $50,000 or $100,000 by the end of the year, eToro analyst Simon Peters claimed on June 26. According to Peters, it took 7 to 14 days for BTC to reach the record figure of $20,000 when it was last at $11,800. He cautioned that his short-term prediction is based on the assumption that bitcoin maintains its current parabolic trajectory. Peters believes this rally is different from past surges because it hasn’t been accompanied by a spike in Google searches for “buy bitcoin” — indicating that the capital entering the market is coming from institutions and investors who had previously parked their funds in stablecoins. On whether the surge is sustainable, Peters added:   “With the number of sell positions building in the market it's possible we could see a correction very soon. Even if that was the case though, bitcoin continues to remain on track to close out the first half of the year on a highly positive note. We could see bitcoin reaching $50,000 or even $100,000 this year.” The analyst went on to note that BTC’s gains are at the expense of altcoins, some of which are being “pummeled” as they languish at significant lows. Bitcoin’s parabolic advance continued past $12,000 on June 26 — the first time the cryptocurrency has hit this figure in over a year. Data from CoinMarketCap also suggests BTC has surpassed 60% market dominance for the first time since April 2017, with a capitalization of $226 billion. Original: https://cointelegraph.com/news/bitcoin-price-could-see-20k-in-two-weeks-100k-this-year-predicts-market-analyst

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Jun 14 2019 Our News Charlie Walsh, Client Manager

RP for reviews

We're in love with truth-seeking storytellers that uncover what matters to help our potential users and investors find the best of cloud mining and join PowerHash family.

Any user can leave a review about our cloud mining service directly on our site or a third-party review site and get a small reward in  Reward Points for leaving a honest review*. More details can be found in "Rewards"-> "RP Earnings"

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Jun 12 2019 Our News Charlie Walsh, Client Manager

10 GH/s FREE for new user.

PowerHash® came out from limited access private mode where only limited number of investors were using the service and now we are ready to offer our services to all Internet users and holders of cryptocurrency assets.

Сryptocurrency scam is frequent nowadays. We know about it and it's sad!

Therefore PowerHash® offers each new user* 10 GH/s of cloud mining power absolutely free.

With PowerHash® you don't need to make deposits, pass checks** and in any other way expose yourself to the risk of being deceived to withdraw the mined currency.

We consciously assume these costs so all our customers (existing or potential) could check our service for transparency in relations with our customers.

We also offer you to test our service and leave a review about it on our service, or a third party and get a small reward***.

* This is a limited offer. Only 8,000 people will be able to use 10 GH/s for free. (The terms of the promotion are subject to change).
** "Beginner" status accounts can be freezed and forced to pass the identity verification in case of suspicious activity.
*** More details can be found in "Rewards"-> "RP Earnings"

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Jun 10 2019 Our News Charlie Walsh, Client Manager

Investment news.

We are exited to announce that by the beginning of September 2019 we will open the opportunity to invest your assets not only in cloud mining, but also in other projects of our company (More information will be available at the time of the planned Executive Board meeting, stay tuned ), as well as the possibility of buying our shares directly on our website or in our office, and on stock exchanges.

At the moment we are working on the financial and legal issues and negotiate with reliable insurer of financial assets for our clients. We expect to start the sales by September 1 but more accurate information about the start date will be announced later.

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Jun 10 2019 Our News Charlie Walsh, Client Manager

Future events.

In the end of the fiscal year (december 2019), we will gather all our investors with VIP and Super VIP status in London at the company shareholders meeting.
The meeting place will be indicated in a personal invitation for security reasons
(It is one of the best places in London).
The shareholders meeting also includes a one-day trip to Iceland to meet our state-of-the-art data center!
We will provide a charter flight for VIP and a private jet for our Super VIP clients, so if you have aerophobia please inform us right after you will get the invitation.
Top Chef Gourmet dishes. Best entertainment. Special guest - celebrity from USA. Big giveaway. Don't miss the biggest event by PowerHash®!
We also want to note that event is free for all Super VIP status investors. That includes round trip first class flight to London from any part of the world, comfortable personal transfer, PowerHash®® private jet to Iceland, full insurance and accommodation in Hilton or Marriott Platinum.

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Jun 06 2019 Our News Charlie Walsh, Client Manager

We introduce you Reward Points!

You can gain Reward Points for activity, investments and some other events.
Gaining enough RP you can change them for digital or other products in our RP Shop.

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Jun 01 2019 Our News Charlie Walsh, Client Manager

Update!

Now you can mine more cryptocurrencies! We add DigiByte (DGB) and Tron (TRX).
We added first airdrop! Meet EOS(EOS).
Also now you can be more personal with the new profile possibilities.
Now users can upload a profile photo and indicate some personal information!
All this information (or each form in separately), can be either hided or shown for all your profile guests.
High quality, reliability and strict adherence to a privacy policy ensure the trust of our clients and protect their private interests, so you can hide your transactions.

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May 29 2019 Our News Charlie Walsh, Client Manager

We added airdrops!

Due to the increasement of our rating among our business partners-cryptocurrency exchanges we were provided with improved partnership conditions.
These conditions imply the airdrop of some tokens due to the processing, storage and exchange of cryptocurrency assets in partnership with these exchanges.
For our part, we want to share these conditions with our investors.
For all our investors who have made a deposit and bought hashrate for at least $100 or signed a direct investment agreement and gained access to an account: now you can receive airdrop tokens such as BNB Coin (BNB), Ripple(XRP) and NEO(NEO).
To do this you only need to select preferred airdrop in the dashboard.

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May 25 2019 Our News Charlie Walsh, Client Manager

Site functionality and cloud mining process testing.

We just finished setting up our server and connected the website to the main datacenter and office server.

Dear investors! We are glad to announce that from this moment we begin the beta test of our site.
Now all our customers can log into their accounts and discover the site functionality. All accounts are credited with hashrate in accordance with signed contract.
Over time, the functionality of our site will be updated. Design and other features will be refined.
Also, we will announce the start of public cloud mining hashrate sales (besides direct investors) in the next month.

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May 24 2019 Our News Charlie Walsh, Client Manager

Beta-Test

On the eve of Spring Bank Holiday PowerHash® is especially glad to announce the launch of the long awaited closed beta test for cloud mining, an upcoming service developed by PowerHash®.
Beta testers of the PowerHash® cloud mining service will gain access to mining BTC and undertake to leave a fair review in a free form. The variety of available cryptocurrencies and equipment will continuously increase to provide clients with new income methods and technologies.
Hurry up to write your name in the history of cloud mining!  Those interested in taking part in beta test of the upcoming service can download the application form from the main page and send it to the support@powerhash.co
The rules for the organisation of beta test will be communicated to direct participants.

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May 22 2019 Our News Charlie Walsh, Client Manager

We are open!

Our company is excited to inform all our investors that the website of our company began its existence!
Temporarily the site is for informational purposes only, but within 4-6 days all our investors will have the access to its functionality.
As we promised to all our investors in the office, your accounts are created based on the signed contracts.

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Jul 28 2019 Our News Charlie Walsh, Client Manager

We are back!

Dear clients, we strongly apologize for the inconvenience. For reasons beyond our control our server room was sealed by police during the arson investigation. Now we got it back, but some problems may occur in the few coming days. Please keep in mind that this is a matter only of displaying the website and the mining process continues in the conventional mode. 

We will credit a special bonus for all clients with "Investor" status or higher.

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Jul 25 2019 Our News Charlie Walsh, Client Manager

Server troubleshooting

Dear clients, yesterday we had a really bad day.

There was a fire that affected our server. We struggled with fire, but sometimes there is nothing humans can do with the forces of nature.

We concentrate all our efforts on the restoration of site accessibility. 

Mining equipment and customer accounts, as well as gained profit amounts and withdrawals were not affected, but the site is still very slow. Some users even are unable to reach the site at all. 

We are aware of that and now we are working hard to fix the problem!

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Jul 19 2019 Our News Charlie Walsh, Client Manager

Anti-fraud check reveals tons of swindlers

Dear customers, ladies and gentlemen, we have reviewed each account individually for violations of PowerHash's terms. This check revealed an enormous amount of swindlers who fraudulently tried to create multiple accounts and abuse our referral system. We remind you that creating multiple accounts from 1 IP address is prohibited, as well all you are not allowed to use bots to create multiple accounts to withdraw funds from the free 10 GH/s. Now each of these accounts is permanently banned and lost the opportunity to mine with PowerHash.

Please keep in mind that we have well-established anti-fraud system! 

 

We also remind you, that conscientious users will have more benefits in the future. 

blog-list
Jul 7 2019 Our News Charlie Walsh, Client Manager

Email sending issues fixed.

Dear customers, all problems with the mail server have been solved. You can turn on 2FA via email now. We apologize for any inconvenience.

blog-list
Jul 5 2019 Our News Charlie Walsh, Client Manager

Mail server troubleshooting

Dear customers, due to the large amount of requests, we faced the fact that the processing of letters can take a long time. You still can contact PowerHash® support team through ticket form for faster communication.
We apologize for any inconveniences and thank you for your understanding.

blog-list
Jul 1 2019 Our News Charlie Walsh, Client Manager

Beta testing finished!

PowerHash® has finished its beta testing round as of the 24th of June. We've got huge amount of feedback and now we are working on preparing PowerHash® cloud mining service for launch.
We are currently expecting PowerHash® cloud mining service release in the first week of July. Sign up for our newsletter in the bottom of this page to be the first to know when we hit release!

blog-list
Jun 14 2019 Our News Charlie Walsh, Client Manager

RP for reviews

We're in love with truth-seeking storytellers that uncover what matters to help our potential users and investors find the best of cloud mining and join PowerHash family.

Any user can leave a review about our cloud mining service directly on our site or a third-party review site and get a small reward in  Reward Points for leaving a honest review*. More details can be found in "Rewards"-> "RP Earnings"

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Jun 12 2019 Our News Charlie Walsh, Client Manager

10 GH/s FREE for new user.

PowerHash® came out from limited access private mode where only limited number of investors were using the service and now we are ready to offer our services to all Internet users and holders of cryptocurrency assets.

Сryptocurrency scam is frequent nowadays. We know about it and it's sad!

Therefore PowerHash® offers each new user* 10 GH/s of cloud mining power absolutely free.

With PowerHash® you don't need to make deposits, pass checks** and in any other way expose yourself to the risk of being deceived to withdraw the mined currency.

We consciously assume these costs so all our customers (existing or potential) could check our service for transparency in relations with our customers.

We also offer you to test our service and leave a review about it on our service, or a third party and get a small reward***.

* This is a limited offer. Only 8,000 people will be able to use 10 GH/s for free. (The terms of the promotion are subject to change).
** "Beginner" status accounts can be freezed and forced to pass the identity verification in case of suspicious activity.
*** More details can be found in "Rewards"-> "RP Earnings"

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Jun 10 2019 Our News Charlie Walsh, Client Manager

Investment news.

We are exited to announce that by the beginning of September 2019 we will open the opportunity to invest your assets not only in cloud mining, but also in other projects of our company (More information will be available at the time of the planned Executive Board meeting, stay tuned ), as well as the possibility of buying our shares directly on our website or in our office, and on stock exchanges.

At the moment we are working on the financial and legal issues and negotiate with reliable insurer of financial assets for our clients. We expect to start the sales by September 1 but more accurate information about the start date will be announced later.

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Jun 10 2019 Our News Charlie Walsh, Client Manager

Future events.

In the end of the fiscal year (december 2019), we will gather all our investors with VIP and Super VIP status in London at the company shareholders meeting.
The meeting place will be indicated in a personal invitation for security reasons
(It is one of the best places in London).
The shareholders meeting also includes a one-day trip to Iceland to meet our state-of-the-art data center!
We will provide a charter flight for VIP and a private jet for our Super VIP clients, so if you have aerophobia please inform us right after you will get the invitation.
Top Chef Gourmet dishes. Best entertainment. Special guest - celebrity from USA. Big giveaway. Don't miss the biggest event by PowerHash®!
We also want to note that event is free for all Super VIP status investors. That includes round trip first class flight to London from any part of the world, comfortable personal transfer, PowerHash®® private jet to Iceland, full insurance and accommodation in Hilton or Marriott Platinum.

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Jun 06 2019 Our News Charlie Walsh, Client Manager

We introduce you Reward Points!

You can gain Reward Points for activity, investments and some other events.
Gaining enough RP you can change them for digital or other products in our RP Shop.

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Jun 01 2019 Our News Charlie Walsh, Client Manager

Update!

Now you can mine more cryptocurrencies! We add DigiByte (DGB) and Tron (TRX).
We added first airdrop! Meet EOS(EOS).
Also now you can be more personal with the new profile possibilities.
Now users can upload a profile photo and indicate some personal information!
All this information (or each form in separately), can be either hided or shown for all your profile guests.
High quality, reliability and strict adherence to a privacy policy ensure the trust of our clients and protect their private interests, so you can hide your transactions.

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May 29 2019 Our News Charlie Walsh, Client Manager

We added airdrops!

Due to the increasement of our rating among our business partners-cryptocurrency exchanges we were provided with improved partnership conditions.
These conditions imply the airdrop of some tokens due to the processing, storage and exchange of cryptocurrency assets in partnership with these exchanges.
For our part, we want to share these conditions with our investors.
For all our investors who have made a deposit and bought hashrate for at least $100 or signed a direct investment agreement and gained access to an account: now you can receive airdrop tokens such as BNB Coin (BNB), Ripple(XRP) and NEO(NEO).
To do this you only need to select preferred airdrop in the dashboard.

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May 25 2019 Our News Charlie Walsh, Client Manager

Site functionality and cloud mining process testing.

We just finished setting up our server and connected the website to the main datacenter and office server.

Dear investors! We are glad to announce that from this moment we begin the beta test of our site.
Now all our customers can log into their accounts and discover the site functionality. All accounts are credited with hashrate in accordance with signed contract.
Over time, the functionality of our site will be updated. Design and other features will be refined.
Also, we will announce the start of public cloud mining hashrate sales (besides direct investors) in the next month.

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May 24 2019 Our News Charlie Walsh, Client Manager

Beta-Test

On the eve of Spring Bank Holiday PowerHash® is especially glad to announce the launch of the long awaited closed beta test for cloud mining, an upcoming service developed by PowerHash®.
Beta testers of the PowerHash® cloud mining service will gain access to mining BTC and undertake to leave a fair review in a free form. The variety of available cryptocurrencies and equipment will continuously increase to provide clients with new income methods and technologies.
Hurry up to write your name in the history of cloud mining!  Those interested in taking part in beta test of the upcoming service can download the application form from the main page and send it to the support@powerhash.co
The rules for the organisation of beta test will be communicated to direct participants.

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May 22 2019 Our News Charlie Walsh, Client Manager

We are open!

Our company is excited to inform all our investors that the website of our company began its existence!
Temporarily the site is for informational purposes only, but within 4-6 days all our investors will have the access to its functionality.
As we promised to all our investors in the office, your accounts are created based on the signed contracts.

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Jul 20 2019 Mining Charlie Walsh, Client Manager

Bitcoin an ‘Unstoppable Force’ US Congressman Tells

Bitcoin’s (BTC) plight in Congress has seen attention focus mainly on naysayers, but this week’s hearing also saw United States politicians accept it was always beyond their control.

‘Governments cannot stop this innovation’

During testimony on July 17, U.S. Congressman Patrick McHenry, who represents North Carolina’s10th District, told lawmakers directly that attempts to stop Bitcoin were futile.

“The world that Satoshi Nakamoto, author of the Bitcoin whitepaper envisioned, and others are building, is an unstoppable force,” he said.

McHenry runs in sharp contrast to other Congressmen making the headlines over Bitcoin, with Brad Sherman again gaining the spotlight after making dubious claims about cryptocurrency’s role in crime.

Others broadly failed to draw a distinction between Bitcoin and permissioned digital currencies, specifically Facebook’s Libra project, which formed the initial basis for the hearings.

For McHenry, however, legislation or not, Bitcoin will prevail. If it were possible to shut it down, he implied, an adversary would have already done so at some point since its 2009 inception.

“We should not attempt to deter this innovation; governments cannot stop this innovation, and those that have tried have already failed,” he continued.

Nations coming to grips with crypto

As Cointelegraph reported, the Congressional hearings came as other states are currently coming to grips with the first incarnation of their regulation of Bitcoin and other decentralized cryptocurrencies.

Notably, India this week confirmed it was working on official guidelines after a scandal involving what some accepted as a draft law banning cryptocurrency outright appeared earlier.

The fallout of the document, which mandated prison sentences for Bitcoin users, resulted in billionaire investor Tim Draper calling the Indian government “pathetic and corrupt.”

Original: https://cointelegraph.com/news/bitcoin-an-unstoppable-force-us-congressman-tells-crypto-hearing

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Jul 9 2019 Mining Charlie Walsh, Client Manager

Bitcoin’s Mining Difficulty Just Posted Its Biggest Increase Since 2018.

Bitcoin mining difficulty – a measure of how hard it is to compete for mining rewards on the world’s first blockchain network – has posted its largest two-week increase in 12 months.

According to BTC.com data, mining difficulty reached 9.06 trillion (T) at block height 584,640 around 9:17 UTC on July 9, surpassing the previous record of 7.93 T by 14.23 percent. This was the strongest growth in any two-week period since August 2018 – a sign that competition among miners is not only intensifying but doing so at an accelerated rate.

The bitcoin network is designed to adjust its mining difficulty every 2,016 blocks (roughly 14 days) based on the participating mining power in each cycle, in order to ensure the block-producing time at the next period stays at about every 10 minutes.

When there are fewer machines competing to solve bitcoin’s hash function to earn newly created bitcoin, the difficulty will fall; when more players jump in, it rises.

Competition right now is so fierce, mining difficulty has leapfrogged the entire range of eight trillion to break the threshold of nine trillion. The estimated difficulty by BTC.com at the next adjustment period could be as high as 10.35 T, which would be another 14.17 percent increase.

Bitcoin mining difficulty

Similarly, the amount of computing power devoted to securing the bitcoin network has also logged the biggest growth of any two-week difficulty adjustment cycle since August 2018, based on BTC.com data and CoinDesk’s calculations.

Enthusiasm for bitcoin mining has pushed the hash rate to as high as 74.5 quintillion hashes per second (EH/s) as of July 5, in line with predictions by mining farms in China that have been plugging in machines to take advantage of cheap hydroelectric power during the rainy summer season.

The total hashing power is expected to continue rising as the peak rainy season is still months away in southwestern China, an area that is estimated to account for half of bitcoin’s global mining production.

Boom and bust

Bitcoin mining difficulty took a significant hit last year amid the market downturn. It dropped as much as 30 percent from October to December and only got back to the previous high last month.

That said, the increases in bitcoin’s hash rate and mining difficulty have not yet caught up with the pace of bitcoin’s price jump, at least not as much as they did in the bull run during the second half of 2017.

According to CoinDesk’s Bitcoin Price Index data, bitcoin’s price surged by 400 percent from around $4,000 to nearly $20,000 between June and December 2017. During the same period, the network’s computing power grew by at least 200 percent.

However, while bitcoin’s price has shot up to as much as $12,000 in June – a 300-percent jump since it fell to $3,000 early this year – the network hash rate has only increased by 100 percent over the same period.

The reason for this lag is an insufficient supply of new bitcoin mining equipment to meet the market’s demand since major miner makers are hitting a bottleneck of production capacity resulting from a limited supply of chips from semiconductor vendors.

Original: https://www.coindesk.com/bitcoin-mining-difficulty-posts-biggest-jump-in-12-months

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Jul 20 2019 Investments Charlie Walsh, Client Manager

Bitcoin ATM Firm LibertyX Expands Locations via New Partnership

LibertyX, the firm that launched America’s first Bitcoin (BTC) automated teller machine (ATM), will add 90 new machines to its network.

In order to expand the network, Boston-based LibertyX has partnered with independent ATM operator DesertATM, according to a report by global ATM market publication ATMmarketplace on July 18.

As a part of the partnership, DesertATM will upload LibertyX on 90 of its Genmega ATMs to enable Bitcoin operations. New Bitcoin ATM locations will include gas stations such as AMPM, ARCO & Chevron, as well as Family Dollar retail stores, the press release notes.

In October 2018, LibertyX teamed up with Genmega, an ATM supplier serving the Independent ATM Deployment market, to allow users to use their debit cards to purchase Bitcoin at any BTC-enabled Genmega machine.

LibertyX CEO Chris Yim stated that the company has been making partnerships with ATM operators that already have locations to offer LibertyX services on their machines. According to Yim, the firm’s network now spans across 43 states and allows users to buy Bitcoin from a cashier or ATM using their debit card or a kiosk, with a limit of $3,000 of Bitcoin at a time.

As previously reported, LibertyX obtained a BitLicense issued by the New York State Department of Financial Services in January 2019 alongside stock and crypto trading app Robinhood .

Recently, Canadian exchange Coinsquare announced that they acquired software allowing traditional ATMs to sell cryptocurrencies such as Bitcoin. The news came amid a report of a potential ban on Bitcoin ATMs in Vancouver over money laundering concerns. 

Original: https://cointelegraph.com/news/bitcoin-atm-firm-libertyx-expands-locations-via-new-partnership

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Jul 5 2019 Trading Charlie Walsh, Client Manager

Litecoin Outperforms Top-10 Cryptos Ahead of August Reward Halving

With the supply of new coins to be halved in less than five weeks, litecoin is outpacing its peers.

The fourth-largest cryptocurrency by market capitalization is currently trading at $123, representing 5 percent gains on a seven-day basis, according to data source CoinMarketCap.

Meanwhile, bitcoin, the top cryptocurrency by market value, is currently reporting a meager 1 percent gain on a weekly basis. Other top-10 cryptocurrencies are trading mixed as seen in the table below.

Weekly and year-to-date performance of the top-10 cryptocurrencies

• Cardano, down 10 percent, is the worst performing top-10 cryptocurrency over the last seven days.

• ETH, XRP, BCH, and EOS are flashing red.

• Binance coin is up a staggering 481 percent on a year-to-date basis, followed by litecoin, up 305 percent. Litecoin’s recent relatively shining performance could be associated with the mining reward halving due on Aug. 6 this year.

The process is aimed at curbing inflation by reducing the coins paid out for mining on litecoin’s blockchain by half. So, after Aug. 6, miners will get 12.5 coins for every block mined – down 50 percent from the current reward of 25 coins.

Essentially, miners will be adding fewer coins to the ecosystem, likely leading to less in circulation. The impending supply cut might have helped LTC outperform its peers in the last seven days.

While it is logical to expect the cryptocurrency to rise further in the run-up to the event, the upside looks limited. After all, LTC has already witnessed phenomenal growth in both price and non-price metrics so far this year, and is currently up more than 300 percent on a year-to-date basis.

Meanwhile, litecoin’s hash rate, or computing power dedicated to mining, rose to a record high of 468.1019 TH/s this week. Notably, the metric is currently up 220 percent from the low of 146.2118 TH/s seen in December.

All-in-all, the market may have largely priced in the reward halving already. In fact, if history is a guide, the probability of LTC witnessing a sharp pullback in the run-up to the Aug. 6 event is high.

It is worth noting that LTC had nosedived from $8.72 to $2.55 in 6.5-weeks leading up to the previous reward halving, which took place on Aug. 25, 2015.

Technical charts are also signaling scope for a near-term price drop. 3-day chart

While the bullish higher lows, higher highs pattern is intact, the relative strength index (RSI) is reporting a bearish divergence and the 5- and 10-candle moving averages have produced a bearish crossover.

As a result, the price risks falling to the 200-candle MA, currently at $221. A violation there would expose the 50-candle MA, currently at $83.00.

On the higher side, a high-volume break above $140 is needed to expose the next major resistance lined up at $182 (May 2018 high).

Original: https://www.coindesk.com/litecoin-outperforms-top-10-cryptos-ahead-of-august-reward-halving

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Jul 20 2019 Worldwide Charlie Walsh, Client Manager

China Ruling Bitcoin Is Property Again Is ‘Major Milestone’

Bitcoin (BTC) has gained legal recognition by a second Chinese court in a further boost for the cryptocurrency in one of its harshest environments.

A watershed for Bitcoin in China

According to investor Dovey Wan, who linked to local media coverage, the Hangzhou Internet Court formally described Bitcoin as virtual property on July 18. 

The second such court to attribute property status to Bitcoin, the ruling came about as part of a dispute between a now-defunct exchange and one of its users who lost funds. 

For Wan, the case marks a significant watershed for Bitcoin in China, where a blanket ban on trading it has been in place since September 2017. 

BTC/USD rallied sharply Friday on the back of positive comments from United States lawmakers, but China likely also influenced the return to form.

“This case is a major milestone that manifested BITCOIN IS ACTUALLY LEGAL in China,” she wrote on Twitter. 

‘It’s virtual property, but not fiat money’

As Cointelegraph reported, China has long formed a curious focus for Bitcoin analysts despite the state-imposed moratorium on using it. As Bitcoin staged a comeback in 2019, evidence began emerging that consumers were finding alternative on-ramps to traditional exchanges, such as purchasing stablecoin Tether (USDT) via over-the-counter deals.

According to local English-language news outlet Global Times, China’s central bank, the People’s Bank of China (PBoC) — which imposed the 2017 ban — did not explicitly disagree with the Hangzhou decision.

“Indeed, Bitcoin is virtual property, but it's not fiat money,” a PBoC official with the surname Li told the publication Friday.

The comments nonetheless come in stark contrast to the state’s perspective on Facebook’s Libra digital currency project, with officials saying they were concerned and had even begun developing a digital currency of their own.

Original: https://cointelegraph.com/news/china-ruling-bitcoin-is-property-again-is-major-milestone-says-investor

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Jul 13 2019 Worldwide Charlie Walsh, Client Manager

Brazilian State Launches Blockchain Platform for Government Contract Bids

In Brazil, the state of Bahia has launched a blockchain application to track the process of public bidding on government contracts, according to a report by Cointelegraph Brazil on July 12.

The blockchain-based solution, called Online Bid Solution (SOL), was reportedly developed by Cayenne Technology and Design. Bids will reportedly be completely transparent and secure due with the application of blockchain tech.

According to Bahia government, the intended beneficiaries of SOL appear to be the Brazilian agriculture industry. The solution is designed to help connect agriculture organizations in Bahia with suppliers and workers throughout Brazil, as well as provide transparency on the contract bidding process. The state of Bahia said that there are over 1,000 organizations projected to use SOL:

“The application, already available in the Play Store and the Apple Store, will be used by about 1,100 agricultural associations and cooperatives in the states of Bahia and Rio Grande do Norte, under the Bahia Productive and Governo Cidadão, financed through a loan agreement between the state governments and the World Bank.”

As previously reported by Cointelegraph, Brazilian coffee farming cooperative Minasul announced plans to issue a blockchain token for coffee farmers. Farmers will reportedly be able to earn tokens as a reward for harvesting coffee beans, and use the proceeds to purchase a variety of goods. This is a useful economic system for the farmers, since this method of financing does not require registration in a notary’s office, according to the report.

 

Original: https://cointelegraph.com/news/brazilian-state-launches-blockchain-platform-for-government-contract-bids

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Jul 13 2019 Worldwide Charlie Walsh, Client Manager

Trump Tweeting About Bitcoin Is ‘Achievement Unlocked’

Donald Trump saying he is not a fan of Bitcoin (BTC) and cryptocurrency is “yuge” for the industry, commentators were suggesting after new tweets on July 12.

In the hours after the United States’ president delivered his lackluster appraisal of crypto, the Bitcoin price stayed stable, only to then begin growing to hit 1% gains Friday. 

Negative or not, for proponents, the event marked a psychological milestone for Bitcoin, as Trump had previously held off from mentioning it in public. 

The fact that he felt the need to bash Bitcoin publicly feeds the narrative that it is both independent of global powers and unable to be crushed by them, Coinbase CEO Brian Armstrongstated, leading the responses.

“Achievement unlocked! I dreamt about a sitting U.S. president needing to respond to growing cryptocurrency usage years ago. ‘First they ignore you, then they laugh at you, then they fight you, then you win.’ We just made it to step 3 y'all,” he tweeted.

Armstrong exemplified the buoyant mood among Bitcoiners. Others likewise thanked Trump for the free publicity, noting a surge in interest documented by Google Trends, while the president being wrong in his opinion also became a talking point on social media. 

“Congratulations BTC community — the president of the United States feels we are worthy of a tweet now,” cryptocurrency entrepreneur, Simon Dixon, added. “Bitcoin has outperformed USD by 23,440,508% since it started being priced in USD.” 

Max Keiser, the RT host and regular Bitcoin bull, considered Trump to have nullified his chances of reelection in 2020, while eToro senior analyst, Mati Greenspan, described his words as an “early nomination for the most bullish tweet of the year.” 

Despite the conversely more stable price performance since the tweets, the possibility of a ‘Trump pump’ occurring for Bitcoin was also gaining traction among analysts.

“Trump is bullish for Bitcoin generally because his media tactics wobble geo-political uncertainty. Thanks for all the dollars flowing into Bitcoin,” cryptographer and Hashcash inventor, Adam Back, added.

In the meantime, another, lesser-known cryptocurrency took the opportunity to capitalize on the buzz. TrumpCoin (TRUMP), an altcoin all but unknown since it appeared in March 2016, was up 28% Friday.

 

Original: https://cointelegraph.com/news/bitcoin-industry-celebrates-achievement-unlocked-as-trump-pumps-market

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Jun 26 2019 Worldwide Charlie Walsh, Client Manager

6 Surprising Takeaways From Bitcoin’s 2019 Bull Run

Bitcoin (BTC) rising above $10,000, $11,000 and $12,000 surprised everyone in 2019 - but the takeaways from this year’s surge makes for unbelievable reading. As Cointelegraph reported, this year’s bitcoin price action has little in common with 2017 - the last time a parabolic advance occurred. Instead, the current cycle is giving investors serious reasons to celebrate.

1. Bitcoin Already Quadrupled From its Bear Market ‘Floor’

Since November 2018, when turbulence from the bitcoin cash (BCH) hard fork hit markets, BTC/USD has recovered three times over.  At the time, the pair hit its lowest point in a bear market which had lasted 11 months - around $3,130. Just seven months later, bitcoin is topping out at $12,800. The past three months - since the ‘major’ phase of the bull run began - has seen BTC/USD gain an astonishing $9,000. 

2. $11,000 Per Bitcoin is ‘Fairly Valued’

Parabolic price moves tend to trigger worry as well as rejoicing. According to one analyst, however, even despite the $9,000 leg-up, Bitcoin in fact remains appropriately priced. According to Bloomberg journalist Tracy Alloway, creator of a bitcoin price index based on - of all things - avocados, current BTC/USD levels show appropriate correlation.  Bitcoin has shared surprisingly similar behavior with Mexican Hass avocados during a mutual bear market.  “Bitcoin remains fairly valued according to my avocado-based pricing model, even after rising past $11,000,” Alloway summarized.

3. Bitcoin and Avocados Soar As Dollar Crashes Under 10,000 Satoshis

If roughly the same number of avocados will net you a bitcoin, the same certainly cannot be said about the US dollar. A chart currently circulating on social media capture the moment when 1 USD no longer corresponded to 10,000 satoshis, bitcoin’s smallest increment.  In January this year, $1 could have netted almost 30,000 satoshis.

4. The ‘Kimchi Premium’ Is At $13,000

As the bull run continues, questions are being asked about its source. As Cointelegraph previously reported, Asian markets appear particularly actively involved in Bitcoin this year, reversing a trend from 2018.  Among these, the so-called ‘Kimchi Premium’ - a phenomenon where South Korean traders pay more for bitcoin in fiat terms - remains conspicuous this week.  According to exchange data, the price of bitcoin on major South Korean platforms has already passed $13,000. 

5. Bitcoin’s Hash Rate Is Stronger And More Secure Than Ever

As previously mentioned, strong bitcoin network fundamentals provided the backdrop to sustained price gains.  Among these, the total network hash rate continues breaking records on an almost daily basis in June.  In the words of Hodlonaut, the Twitter user who returned to the platform amid a legal battle with infamous self-proclaimed Bitcoin creator, Craig Wright, bitcoin “won” after reversing its hash rate downturn. 

6. Will Bitcoin Continue to Surprise the Market?

Given the speed of its gains, the future for BTC/USD remains uncertain. According to one popular analyst Filb Filb, the historic trend should ultimately spark a price correction to around $9,500.  First, however, markets could easily run to $16,000 or even higher.  He said:  This would mean that although bitcoin is in the final leg of this run, it could still top out at 16k before a correction to somewhere around $9.5k. This would meet the criteria of surprising the market, which is what bitcoin does best, he adds. Original: https://cointelegraph.com/news/6-surprising-takeaways-from-bitcoins-2019-bull-run

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Jun 26 2019 Worldwide Charlie Walsh, Client Manager

Bitcoin Price Could See $20K in Two Weeks - $100K This Year, Predicts Market Analyst

Bitcoin (BTC) prices could match their all-time high of $20,000 within the next two weeks — and could hit $50,000 or $100,000 by the end of the year, eToro analyst Simon Peters claimed on June 26. According to Peters, it took 7 to 14 days for BTC to reach the record figure of $20,000 when it was last at $11,800. He cautioned that his short-term prediction is based on the assumption that bitcoin maintains its current parabolic trajectory. Peters believes this rally is different from past surges because it hasn’t been accompanied by a spike in Google searches for “buy bitcoin” — indicating that the capital entering the market is coming from institutions and investors who had previously parked their funds in stablecoins. On whether the surge is sustainable, Peters added:   “With the number of sell positions building in the market it's possible we could see a correction very soon. Even if that was the case though, bitcoin continues to remain on track to close out the first half of the year on a highly positive note. We could see bitcoin reaching $50,000 or even $100,000 this year.” The analyst went on to note that BTC’s gains are at the expense of altcoins, some of which are being “pummeled” as they languish at significant lows. Bitcoin’s parabolic advance continued past $12,000 on June 26 — the first time the cryptocurrency has hit this figure in over a year. Data from CoinMarketCap also suggests BTC has surpassed 60% market dominance for the first time since April 2017, with a capitalization of $226 billion. Original: https://cointelegraph.com/news/bitcoin-price-could-see-20k-in-two-weeks-100k-this-year-predicts-market-analyst