PR: John Mcafee Joins Decentralized Coding Platform Transcodium’s Advisory Board
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
CEO and founder of McAfee Antivirus, John McAfee, advises the Transcodium Project while reiterating the prospects of the project
Transcodium is the first of its kind decentralized transcoding platform, and Transcodium Ltd. began the pre-ICO sale on the 7th January, 2018, allowing participants to get the token for a remarkably amazing discount of 30%. Described as the solution for transcoding, the project has been receiving accolades from different quarters, and the latest of such accolade is coming from the founder and CEO of popular antivirus, McAfee Antivirus, in the person of John McAfee.
John McAfee is a popular and well-respected name in the IT industry, with his McAfee Antivirus ranked amongst the first ten antivirus software applications in the world. John McAfee has not only advised the Transcodium project on ways of ensuring its effectiveness and how the aims of the project will be achieved. He described Transcodium as the solution to the high cost of creating streaming networks.
In the words of John McAfee and as tweeted on his official Twitter handle, “My personal investment of the week: http://www.transcodium.com Giants own the video streaming world with no room for small players. Transcodium, a solution to the cost of creating streaming networks, is the first ICO opportunity investors to participate in this arena.” – https://thinklab.com/content/1529292
The aim of Transcodium is to provide the first of its kind peer-to-peer decentralized file editing, transcoding and distribution platform with high quality and reliable computational power, without requiring users to break the bank. This will eventually create a global market for users that are willing to rent their idle machines to be used as workers. Workers will also get rewarded with tokens at the end of the processing.
Transcodium is a registered and verified company that has been issued with EV SSL. The company is also tested and trusted, as it already has an existing product on media transcoding and distribution. The transcoding industry is an existing market and is described as one of the fastest growing fields. Therefore, it is not surprising that giant companies like Google and Amazon are tapping into this field.
With John McAfee now lending his support to the Transcodium project, Transcodium aims to become one of the major players in the global video transcoding market that is expected to grow from USD 3.25 Billion in 2017 to USD 7.50 Billion by 2022.
More information about Transcodium and the token sale can be found on website, Twitter (
Contact:
Jeetendra Kumar
[email protected]
Supporting Link
https://transcodium.com
This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
The post PR: John Mcafee Joins Decentralized Coding Platform Transcodium’s Advisory Board appeared first on Bitcoin News.
Japanese Financial Authority Inspecting 32 Cryptocurrency Exchanges
The Japanese Financial Services Agency has announced that it is inspecting all 32 cryptocurrency exchanges in Japan. This includes 16 exchanges that have not obtained a license but are currently under review by the agency and those that are already fully licensed.
Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies
16 Exchanges Fully Licensed
The FSA first approved 11 exchanges in September of last year: Money Partners, Quoine, Bitflyer, Bit Bank, SBI Virtual Currencies, GMO Coin, Bittrade, Btcbox, Bitpoint, Fisco Virtual Currency, and Zaif.
Then in early December, 4 companies were additionally approved to operate cryptocurrency exchanges: Tokyo Bitcoin Exchange, Bit Arg Exchange Tokyo, FTT Corporation, and Xtheta Corporation. At the end of December, another exchange, Bitocean, was approved. In total, 16 businesses are licensed to operate cryptocurrency exchanges in Japan.
16 More Exchanges Under Review
The other 15 are Minnano Bitcoin, Payward Japan, Lemuria Bitcoin Exchange (Bitcrements), Campfire Corporation, Tokyo Gateway, Lastroots Corporation, Debit, Eternal Link, FSHO Corporation, Kirin Corporation, Bit Station, Blue Dream Japan, Mr. Exchange, Bmex Corporation, and Bitexpress Corporation.
Inspections of All Exchanges
The agency published this list of all exchanges in response to the hack of Coincheck, where 58 billion yen (~USD$530 million) worth of NEM were stolen last week. While the exchange has promised to repay its 260,000 affected customers out of its own capital, no timeframe has been set.
In addition, the FSA has ordered the internal inspections of all other cryptocurrency exchanges in Japan based on a checklist of 43 items, according to Jiji Press. They are to submit reports of their risk management systems such as the details of their systems to manage customer assets and cyberattack countermeasures.
Do you think Japan will have too many crypto exchanges? Let us know in the comments section below.
Images courtesy of Shutterstock and Nikkei.
Need to calculate your bitcoin holdings? Check our tools section.
The post Japanese Financial Authority Inspecting 32 Cryptocurrency Exchanges appeared first on Bitcoin News.
Coingeek Announces Funding the Electron Cash Development Team
On February 1 the cryptocurrency media outlet and blockchain company Coingeek announced it plans to fund the Electron Cash team’s development. The new Electron Cash projects will involve working on innovative plans for the bitcoin cash ecosystem and a partnership with the firm Nchain.
Also read: Bitcoin Cash Supporters Prepare for the Network’s Next Six Month
Coingeek Will Provide the Electron Cash Team $300,000 Per Year to Continue Adding Value to the Bitcoin Cash Ecosystem
Jonald Fyookball: “The Funding Will Help Achieve the Original Satoshi Nakamoto White Paper’s Vision”
“To have this level of financial muscle from Coingeek and technical expertise from Nchain means we have the resources to develop numerous software projects that will help the BCH community,” explains the Electron Cash lead developer Jonald Fyookball.
We are excited to contribute our part to help achieve the original Satoshi Nakamoto white paper’s vision that got us all so excited in the first place.
Coingeek’s Calvin Ayre Believes Bitcoin Cash is the All-In-One Cryptocurrency for the Future
The owner of Coingeek, Calvin Ayre, hopes the new funding can improve BCH-centric applications. Ayre states that anyone with a knowledge of BCH understands that it is the all-in-one cryptocurrency for the future.
“But BCH is in its early stages, and needs more technical advancements to make it easily used in daily life — especially at the enterprise level,” explained Ayre during the funding announcement.
That’s why we support open source projects that make sure the best ideas in cryptocurrency are built into the BCH ecosystem.
Members of the Three-Party Initiative Say This Is Only the Beginning
Jimmy Nguyen, the CEO of Nchain, details that the three-party initiative with Electron Cash is just what is needed to continue bolstering the bitcoin cash ecosystem. “We’re especially excited to work with the Electron Cash team to help realize implementations of some of our patent-pending inventions – such as blinded threshold signatures,” Nguyen explained to news.Bitcoin.com.
In addition to the Electron Cash development funding and open source initiatives, Ayre explains this is only the beginning. Coingeek plans to launch campaigns that help promote merchant adoption, alongside offering to fund other developers willing to push BCH to the next level.
“If you are a developer or technology venture that needs funding to develop projects or applications for the bitcoin cash chain, send us your pitch,” Ayre emphasizes.
What do you think about Coingeek.com funding the Electron Cash development team and other open source initiatives? Let us what you think in the comments below.
Images via Pixabay, Nokia, Coingeek, Electron Cash, and Nchain.
At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.
The post Coingeek Announces Funding the Electron Cash Development Team appeared first on Bitcoin News.
Dead again? In Reality Bitcoin Is Up 729% Since Last February
The price of bitcoin has seen some corrections over the years, but really there have only been a few deep cuts. With the bearish dips in price over the past five weeks it’s always good to look at the historical view of value drops and the long-term achievements of the cryptocurrency economy in general.
Also read: Nassim Nicholas Taleb vs David Birch on The Bitcoin Standard
Mainstream Media Assumes the Cryptocurrency ‘Bubble Has Popped,’ But In Reality This Economy Is Just Getting Started
Bitcoin’s Recent Five Week-Long Drop In Value Has Come Close to a Few Outlier Corrections
A lot of people are looking at prior bitcoin price corrections to figure out where this one will lead. Historically bitcoin markets have seen a number of broad cuts in value, but this particular drop overwhelms four previous corrections. On December 16, 2017, BTC markets touched an all-time high and lost 61 percent in just five weeks leading to today. Even with the rebound, the dip outpaces the June 2012 Linode hack scare where bitcoin markets lost 36 percent. Additionally, the past month’s decline has been more prominent than the 2014 Mt Gox bankruptcy plunge (49%), and the value drop that was correlated to Chinese exchange bans back in September of 2017 (40%).
However, there are three significant bitcoin market outlier corrections that have been far larger than this past drop. In 2011 the BTC market lost 94 percent of its value during the first hack of the Japanese exchange Mt Gox. Further, Mt Gox spurred another 79 percent selloff in 2013 when the platform halted trading. Lastly, bitcoin’s value sunk over 87 percent from November 2013 to January 2015 as the cryptocurrency experienced the longest ‘bear run’ in its history. There’s also been quite a few ‘major corrections’ over the 35 percentile mark, and every one has led the mainstream media and many newcomers to believe it’s time to close the casket on this ‘magical internet money.’
After the Big Dip, Bitcoin’s 70,000% Increase Is Far from Being ‘Dead’
What these pundits don’t realize is even after this current price drop since bitcoin’s inception, the cryptocurrency has gained roughly 70,328 percent. Since last February BTC/USD markets are still up 720 percent and many other digital assets have seen even more substantial price gains year-over-year. Historically, for every two steps back, the value of bitcoin has leaped seven steps forward after nearly every correction.
Will this be the case again? We really don’t know, but cryptocurrencies have never ‘died’ and many believers feel the value of this economy will likely continue to rise over the long term. Those who say cryptocurrencies are in a death spiral have not looked at the whole picture.
Where do you see cryptocurrency market values going from here? Let us know in the comments below.
Images via Shutterstock, Reddit, Trading View, and Barrons.
Not up to date on the news? Listen to This Week in Bitcoin, a podcast updated each Friday.
The post Dead again? In Reality Bitcoin Is Up 729% Since Last February appeared first on Bitcoin News.
Another Post-Soviet Jurisdiction Welcomes Crypto Miners
Following in the footsteps of counterparts from former Soviet countries, government officials in Transnistria have attempted to create crypto-friendly environment in their disputed republic. Newly adopted legislation legalizes cryptocurrency mining and provides incentives for foreign investors. Entrepreneurs, invited to set up mining facilities, are not even required to register a local company. They can take advantage of tariff-free imports of mining equipment and unrestricted access to cheap energy.
Also read: Cryptocurrency Activities Will Be Legal and Tax Free in Belarus Starting in March
Unrecognized Republic Recognizes Unregulated Mining
“We consulted people who understand the technology and came to the conclusion that we need to build the legal and technological basis. So, that’s what we did – we created the regulatory framework”, PMR’s President Vadim Krasnoselsky said, quoted by Kommersant. The head of the unrecognized republic, which borders Moldova and Ukraine, has initiated the adoption of the new legislation.
Investors will enjoy preferential treatment. Residents of the FEZ areas will be able to import mining equipment free of any tariffs. Relocating property out of the zones will also be unimpeded by government restrictions. Pridnestrovian authorities promise “maximum assistance” in regards to providing access to the local electrical grid. Special rates may be offered by “natural monopolies” like the power generating companies.
Cryptocurrency mining is energy-intensive but Transnistria has no issues with that. “We are a country that generates electricity”, President Krasnoselsky said, insisting there is plenty of surplus energy to power mining operations. A 48,000 kW hydroelectric station on the Dniester River and a Russian owned Moldavian power plant can electrify mining farms. Three thermal power stations in the capital Tiraspol can also be used. They are running on natural gas supplied by “Gazprom,” and PMR is not paying anything for the “blue fuel”. The $6 billion USD debt is billed to Kishinev because of the ongoing negotiations about the status of Transnistria within Moldova. The republic can produce even more electricity if it burns some of the gas offered by Russia to cover transit fees.
Vadim Krasnoselsky admits that authorities are targeting Russian investors who have demonstrated interest in PMR as a mining destination. One of those potential business “immigrants” is the younger son of Russia’s Prosecutor General Yury Chaika. 30-year-old Igor is a well-known Russian entrepreneur and founder of a company that provides logistical support to Russian firms entering the Chinese market. He told Kommersant that Pridnestrovian authorities had promised to provide the infrastructure for the mining facilities. Projects to invest up to $250,000 USD there have been discussed with several other Russian businessmen. The price of electricity will play a key role when choosing between Transnistria, Moldova and Russia, Igor Chaika said.
Cheap Power and Clever Incentives Attract Miners to the Former USSR
By adopting a crypto friendly legal framework, PMR joins a club of several jurisdictions in the post-Soviet space that are trying hard to attract bitcoin related businesses. Much like Transnistria, Belarus is attempting to overcome international isolation, while gravitating around Russia and relying on its cheap energy supplies and other economic aid. A presidential decree legalizing cryptocurrencies, initial coin offerings, and smart contracts in the country will go into effect by the end of March. Entrepreneurs will not be required to declare or pay taxes on activities such as crypto mining.
Intensive debate on regulating bitcoin and other cryptocurrency-related matters has been going on in Ukraine for some time now, with mounting calls to legalize the whole sector. As part of the legislation proposed by Ukrainian deputies, incentives and tax exemptions for crypto incomes and mining profits may be introduced in the country, which is trying to distance itself from Russia, both economically and politically.
According to recent media reports, Uzbekistan is third in a list of top 20 countries offering the lowest expenses for cryptocurrency mining. It costs less than $1,800 on average to mine a single bitcoin there, based on data collected from government sources, utility companies and the International Energy Agency.
The Russian Federation itself, where crypto investments have been growing exponentially, also has what’s needed to welcome miners and host mining facilities. Excess energy production capacity from Soviet times, when heavy industries used huge quantities of electricity, can now power mining farms at very low price. Russia’s Central Bank just announced it wouldn’t mind cryptocurrency mining in the country.
Do you think that cheap energy and smart incentives will attract miners to the former Soviet states? Tell us in the comments section below?
Images courtesy of Shutterstock.
Express yourself freely at Bitcoin.com’s user forums. We don’t censor on political grounds. Check forum.Bitcoin.com.
The post Another Post-Soviet Jurisdiction Welcomes Crypto Miners appeared first on Bitcoin News.
Montana is Home to New 53 Acre, $75 Million Bitcoin Mining Facility
This week, the cities of Butte and Anaconda, Montana, learned bitcoin mining company Crypto Watt LLC secured 53 acres on which they plan to invest at least 75 million USD to facilitate the process of how the world’s most popular cryptocurrency’s transactions are authenticated and confirmed.
Also read: Nassim Nicholas Taleb vs David Birch on The Bitcoin Standard
Montana to be a Bitcoin Mining Hub
Just two months ago, MSE Technologies in Butte, Montana employed 50 engineers. Today, it’s contracting like crazy, shedding half its work staff, selling off its holdings, and trying to stay afloat amid tax arrears going back three years and other fiscal headaches. It’s perhaps a real life metaphor for out with the old, in with the new.
Companies like MSE were propped up by subsidies and Acts of Congress as far back as the 1970s, when over 150 million USD in tax dollars went to build the sprawling 53 acre site. As congress was reigned in a tad with regard to earmarks, money dried up and so did the MSE business.
Whereas government cheese-dependent business has been vanquished, a new kid has come to town, Crypto Watt, part of holding company The Burrell Group. Its companies include osteopathic colleges and bitcoin mining. In Montana’s industrial sector, it has gobbled up the languishing MSE property which now “is expected to be transformed into a bitcoin mining operation by the beginning of March” according to local reports.
The company hopes to employ 50 people at the site, and believes its investment will see between 75 and 100 million USD to get it up to par as a data center. Crypto Watt CEO Dan Burrell assured: “We’re confident we have a sustainable business model. We’re in this for the long term,” he told The Montana Standard.
That’s Two
Data centers are key to the broader bitcoin project going forward as fewer coins are available to be mined and computation becomes ever more difficult. The climate of Montana is conducive to bitcoin mining. Located in the West and Northern-most part of the US, bordering Canada, Montana is very cold for a substantial part of the year. Mr. Burrell also mentioned the Butte and Anaconda sites could be used to mine other cryptos along with bitcoin, and that the sites could double as space for retail investors to mine as well.
This would be the second large mining operation to find Montana in as many years. Back in 2016, Project Spokane, LLC launched its site near Missoula. It’s already one of the largest energy consumers in the region, housing a 20 megawatt facility, employing at least 25 locals.
Burrell Vice President Scott Mosebach explained: “We’ll be training employees to maintain the data center that we would be building in another location. The underlying technology which this is a product of is exciting from an investment standpoint,” he urged. “This is obviously going to be revolutionary.”
Crypto Watt has already attracted Global Blockchain Tech, a Canadian company which said it would use the facilities in Anaconda and Butte, and is expected to be up and running by March.
What do you think of more mining data centers opening? Let us know in the comments section below.
Images courtesy of Pixabay,
Not up to date on the news? Listen to This Week in Bitcoin, a podcast updated each Friday.
The post Montana is Home to New 53 Acre, $75 Million Bitcoin Mining Facility appeared first on Bitcoin News.
Source: https://news.bitcoin.com/