A company made history on Monday by launching a Bitcoin mining rig called Space Miner One into the stratosphere, where it confirmed transactions and mined Bitcoin over 100,000 feet from the surface of the planet.
Attached to a weather balloon, the Space Miner One rig drifted through the lower atmosphere before returning to Earth on a parachute where it was safely recovered from a field in Lithuania. The rig was connected to the internet via satellite phone and was also fitted with an ASIC mining chip, a Raspberry Pi 3, battery, GoPro Hero 5, and a metal souvenir coin for a competition winner.
We spoke to Miner One CEO Pranas Slušnys about the meaning of the launch and his plans for the future.
“The goal of Space Miner One is to symbolically express our belief that bitcoin and cryptocurrency in general is about the future and the revolutionary technology at its heart: so-called blockchain technology. And with this new technology, the sky’s the limit.”
My Thoughts
Communications be they telephone, email packages, cryptocurrencies are all being moved around via satellites. This seems a sound way of going forward, who would have thought Bitcoin to the Moon arrived so early.
Key Points
- Bitcoin price is trading with a positive bias and it currently placed nicely above $9,500 against the US Dollar.
Bitcoin price is gaining momentum above $9,500 against the US Dollar. BTC/USD is likely to accelerate higher above the $10,000 and $10,500 levels in the near term.
My Thoughts
Bitcoin is beginning to push back and moved slowly up from the $6k now just below $10k finding support level again. New week should be interesting to see whether the breakthrough $10k will happen, keep an eye open it may be the start of good things to come in the month of May.
Other crypto is on the upward move, keep watching, buy now before the prices rise.
Why Create A Paper Wallet?
Exchange accounts can be hacked, mobile wallets breached, and smartphones lost, stolen or destroyed. But paper? It’s impervious to all digital attack vectors. It’s not foolproof – fire, water damage, or theft can still take their toll – but if you’re careful where you stash your paper wallet, it’s one on the safest ways to store cryptocurrency. Be it as a backup of an existing hardware, mobile or desktop wallet, or as a standalone wallet that exists solely offline, paper is perfect.
The ultimate form of cold storage, a paper wallet simply consists of a printout of the private and public keys to your address. (These can even be handwritten if you don’t trust printers or have access to one). Suffice to say that while the public key can be shared so that others can send you coins, you shouldn’t share your private key with anyone. Thus, once you’ve printed your wallet, you need to store it somewhere only your eyes can view it. That could be a safe, a bank vault or a sly hiding place in your home.
If you’re ultra cautious, you can even split your paper wallet into parts and store it in separate locations. Not much use if you’re a day trader, admittedly, but if you’re a hodler for life, a distributed paper wallet (with at least one duplicate to ensure redundancy) is about as safe as cold storage gets.
Read the full article to see how to create various wallets
My Thoughts
A topic spoken about often, how many have actually set this system up, securing the keys in a printed, hand written diary or QR Code safely tucked away in a safe?
Hackers are real, we see it happening everywhere, rather be safe, not sorry.
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