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$130 Billion in Bitcoin (BTC) Is Now Permanently Inaccessible due to Lost Private Keys Associated with Crypto Wallets

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Nathaniel Popper from the New York Times reports that of the (approximately) 18.5 million Bitcoin (BTC) in circulation, about 20% — valued at around $130 billion at the time of writing — seems to have been lost or isn’t accessible from the crypto wallets where these coins were deposited.

Stefan Thomas, a German-born software engineer residing in San Francisco, has two guesses left in order to figure out a password that’s worth around $220 million (worth of BTC).

The password will allow Thomas to unlock and access a relatively small hard drive, called IronKey, which holds the private keys to a cryptocurrency wallet that’s storing 7,002 Bitcoin. Although the BTC price fell around 20% this past Monday, the flagship cryptocurrency is still up over 50% from only a month ago, when it managed to break its previous all-time high of nearly $20,000 (which was set back in December 2017).

Nathaniel Popper writes that the issue is that Thomas had lost the paper on which he had written down the password (or SEED phrase) for his IronKey. The hardware device (and firmware/software) gives users up to 10 guesses before it locks up and encrypts the contents permanently (with no chance of recovering the funds later on). The developer reveals that he has already tried eight of his most frequently-used password formulations, but he still hasn’t been able to crack the password.

Thomas stated:

“I would just lay in bed and think about it. Then I would go to the computer with some new strategy, and it wouldn’t work, and I would be desperate again.”

Bitcoin, which has experienced a historic and extremely volatile 8-month run, has made many early-adopters quite rich in a very short period of time, even while the COVID-19 pandemic has had a major negative impact on the global economy.

However, the digital currency’s highly technical nature has also led to many investors or holders being locked out of their Bitcoin wallets because they misplaced or forgot their private keys. These unfortunate people have been watching helplessly as the Bitcoin price has surged dramatically and also fallen considerably in short periods of time. These people haven’t been able to take advantage of the crypto market or cash in on their crypto wealth.

Of the roughly 18.5 million Bitcoin in circulation, around 20% (worth $130 billion at time of writing) appears to now be permanently inaccessible, according to recent estimates from blockchain analysis firm Chainalysis.

Wallet Recovery Services, a company that’s focused on assisting people with recovering their cryptocurrency accounts, has revealed that it’s receiving around 70 requests per day from investors or traders who need help accessing their digital wealth. The number of requests received by the company have increased by around three times when compared to last month.

Bitcoin holders who are unable to access their funds have said that they’ve been extremely frustrated because they can’t cash in on their fortunes. Many people claim that they acquired these coins when Bitcoin was introduced about 10 years back, which was when many thought it wasn’t going to be worth nearly as much as it is now.

Brad Yasar, a Los Angeles based business owner, claims that he has many desktop PCs that reportedly have “thousands” of BTC he had mined when the cryptocurrency network was first launched. Yasar revealed that he’s now spent “hundreds of hours trying to get back into these wallets.” But he hasn’t had any success because he apparently lost the passwords to these accounts several years ago.

Diogo Mónica, Co-founder at digital asset firm Anchorage, stated:

“Even sophisticated investors have been completely incapable of doing any kind of management of private keys.”

Source: https://www.crowdfundinsider.com/2021/01/171185-130-billion-in-bitcoin-btc-is-now-permanently-inaccessible-due-to-lost-private-keys-associated-with-crypto-wallets/

Crowdfunding

ZimaBoard, the personal desktop server

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The device is a single board server designed to provide all the services of cloud servers at your fingertips in total security

Creators and tech geeks now have a new tool for their work. ZimaBoard is a very small and portable server. The device, object of a crowdfunding campaign on kickstarter, was created by IceWhale Technology, a team of inventors based in Shanghai. The name is inspired by a robot featured in an episode of a series broadcast on HBO and Netflix “Love Death and Robots”. The server allows you to set up a 4 Terabyte cloud in minutes, configure a secure VPN for trackless online browsing, and build a space for 4k content.

Through ZimaBoard, you can set up a private home network and manage all your appliances and smart equipment. Here are the main features of the basic version of ZimaBoard: Dual Core 1.1-2.4GHz processor, Ram 2Gb LPDDR4, 16Gb eMMC 5.1 storage, 2 SATA 6.0 Gb/s ports, 2 GbE LAN ports, 2 USB 3.0, 1 PCIe 2.0, 1 4k@60Hz mini display port, passive cooling, Linux OS pre-installed but compatible with Windows, OpenWrt, pfSense, Android and Libreelec.

ZimaBoard’s personal cloud can be increased up to a capacity of 12 Terabytes by adapting to the user’s needs. The incoming and outgoing data transfer rate reaches 100 Mb/s, comparable to the write speed of a local Hard Disk. The funding campaign has already raised more than 10 times the minimum amount, with hundreds of supporters ready to invest on ZimaBoard.

You might also be interested in -> Lg Rollable: the first smartphone “roll up” like a sheet of paper

Source: https://www.thepatent.news/2021/01/17/zimaboard-the-personal-desktop-server/?utm_source=rss&utm_medium=rss&utm_campaign=zimaboard-the-personal-desktop-server

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Comino: Liquid-Cooled, Super-Powerful Computing Tech

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When investing, your capital is at risk.

Even amidst the economic volatility we’ve seen in the last year, tech is thriving. And that’s not just Amazon and delivery services. Companies in the AI, gaming and other sectors are contributing to surging global demand for powerful computing technology.

With over fifteen years experience in hardware R&D, Comino’s liquid-cooled PCs and servers are equipped to serve all those industries and more. Better yet, their products consume up to 40% less electricity than equivalent air-cooling computers, making them a sustainable solution to boot.

For those new to the world of cutting edge computing tech, here’s the low down from Comino’s CEO Evgeny Vlasov.

What exactly is liquid cooling and why it’s such a crucial innovation?

The most efficient cooling for hardware components can only be designed using water, since water is often more efficient than air cooling. It’s also inexpensive and non-toxic.

High-performance servers and desktops encompass GPU, CPU and other components generate more and more heat when in operation. These components need to be properly cooled to achieve maximum performance. 

Air cooling used to be the cheapest and most reliable cooling method, but liquid cooling has been constantly evolving and improving. It was first used as a replacement for air cooling to solve inefficiencies. Now, it’s as easy to implement liquid cooling as air cooling.

Aside from better cooling functions, liquid technology allows manufacturers to build sustainable systems and cut down on the overall consumption of power. In a nutshell, there are three major perks:

  1. More efficient cooling
  2. Lesser energy consumption
  3. Heat recovery, or recycling heat for other purposes

When did you first get the idea for Comino? 

Three and a half years ago, Alexey Chistov came up with the idea of ​​creating liquid-cooled computing servers for the B2B market. Together, we expanded this idea to computers, combining plug-and-play liquid cooled devices with software.

What were you doing prior to starting the business?

I was previously CEO of call tracking service Calltouch. I started the company from scratch and developed it into a leading analytic call tracking platform.

I also worked at an international company that developed OSS systems for leading Telecom companies around the world. This was a fantastic experience as it allowed me to gain tangible knowledge of the industry, not to mention the cultural exposure.

How did you meet your core team members and how did you know they were the best fit for the company?

In the initial phases of Comino, nobody knew which roles each of us would play in the company and whether we had the best-fitting setup at the time. A lot of that happened organically as we grew. However the traits I sought in my core team members were dedication, ambition and expertise in a particular area – and that hasn’t changed.

What’s special about Comino’s products that will equip the startup to become a leader in the computing market?

Prior to the establishment of Comino, many companies were involved in the business of liquid cooling. These businesses were producing a variety of high quality but high maintenance products, but they were complex, costly and targeted exclusively experts and enthusiasts.

We realized that neither the retail nor B2B sector offered easy-to-use and affordable liquid-cooled devices. So, in close contact with the mentor of the Deformational Cutting technology, we developed a lineup of devices, namely the desktop OTTO device – a small workstation and SFF platform for home, and the server GRANDO device which powers affordable HPC solutions as well as high-performance office workstations for SMB.

What industries are you currently serving and which ones do you have your sights on for the future?

Firstly, we serve the industries that rely on powerful GPU-based computing systems. These include the fast-growing industries of gaming, artificial intelligence, video rendering and many more. 

What’s been the biggest success for the business so far? 

The biggest success for us is the fact that our products have been lauded by top tech influencers and our clients. That’s a real honour for us.

What do you anticipate to be the biggest challenge moving forward? 

Our products being represented by all major distributors. We aspire to be the standard for liquid cooled platforms in the world. 

What’s been the biggest highlight of this crowdfund?

We’ve started our UK campaign as we’re currently headquartered in Britain. 90% of our audience are based in the USA and Canada, but unfortunately, these investors can’t invest  in our UK market! Regardless of this drawback, there are still a lot of people who have supported and believed in us in Europe which is amazing! Every day of crowdfunding is a milestone as the company is constantly evolving.

Our investors ask the right questions and give us a lot to think about. I think it always helps to have a fresh pair of eyes to help us improve. The crowdfunding campaign is not just about acquiring investment – it’s a lot more than that.

What’s one computing hack you’d give to a beginner? 

If something isn’t working as expected, reboot it! And that’s not just for computers – that applies to everything.

What are you doing when you’re not building the business? 

I’m really fond of woodworking; I’ve made a lot of furniture for home, my family and the kindergarten my kids attend. I love playing hockey with my son, camping in the wild with no mobile coverage and I’m currently learning to play flamenco guitar.

Naturally, I like to program controllers, AI and smart homes from time to time. Can’t help it with a programming background.

What’s your number one survival tactic for lockdown?

Don’t panic. We now have new rules to follow in order to stay safe, so it’s important to be flexible and keep moving forward. 

If you’re leading a company, the faster you make decisions, the better the outcome. Adapt to working remotely and learn to react quickly to a changing business environment.

What doesn’t kill you makes you stronger!

To find out more about Comino, visit the pitch now.

Michaela Salomon

Michaela Salomon

Campaign Support Team

Source: https://www.seedrs.com/learn/blog/founder-stories/comino-liquid-cooled-super-powerful-computing-tech

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Follow this rule for 1,000% returns…

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Startups are a strange animal.

Even though they have the potential to hand investors like you life-changing profits…

They also have a high probability of failing.

Makes sense. After all, startups are new enterprises searching for a profitable business model.

The thing is, identifying a profitable business model can take a lot of time.

That’s why the longer a startup can stay in business, the greater its odds are of succeeding — and the greater its odds are of delivering big profits to investors like you.

But how can we determine whether a startup has what it takes?

Well, that’s what we’ll cover today…

And as you’ll see, the longer a startup can stay afloat, the better your chances of walking away with 1,000%+ returns.

Avoid These Startups!

CB Insights, a prominent research firm that focuses on the private markets, recently performed a detailed study about why startups fail.

Some of the factors it identified won’t surprise you — for example, creating a useless product, or doing lousy marketing. But one factor is so obvious that it’s often overlooked:

The startup runs out of money!

As it turns out, this finding is echoed again and again in similar studies, whether from the Small Business Administration (SBA) or Harvard Business School.

And for investors like us, here’s the bottom line about this insight:

Since running out of money is the most fundamental reason startups fail, we should avoid investing in the startups that are more likely to run out of money.

And Here’s How To Predict It

Given this knowledge, Matt and I set out to do a study of our own.

Our goal was clear:

Identify the factors that could indicate whether a startup had a higher or lower chance of running out of money — even if it was a tiny company, just getting off the ground.

Our study eventually became a multi-year research project:

We traveled across the country to interview dozens of top venture capitalists. We hired former investment bankers from Citicorp to evaluate data. And we recruited Columbia University MBAs to build financial models and run regression analyses.

And what we discovered was shocking…

Our Findings

Our team eventually identified about two dozen statistically significant indicators that could tell us whether a company had a higher or lower risk of running out of money.

For example, we discovered that a startup’s investors are a powerful indicator.

Specifically, if a startup raises part of its “seed” round from Venture Capitalists — as opposed to exclusively from individuals like you — it’s 63% more likely to raise additional funding later.

And since a well-funded startup will stay in business longer, that means it’ll have more time to identify a good business model — and a higher chance of handing you a big return.

Here’s Another Indicator We Found:

If a startup has high fixed costs, it’s at greater risk of running out of money.

For example, hardware startups — the type of companies that build physical products — have relatively high fixed costs. And these high costs make them riskier.

Sure, some hardware companies will become successful. But statistically speaking, their high fixed costs correlate to a higher risk of going out of business. That’s why you’re generally better off investing in software startups.

These examples are just a small sample of the two dozen statistically significant indicators our team identified.

And before we make a startup investment, we evaluate every one of them.

For the Biggest Returns, Follow a Quantitative Approach

What you just learned about is one of the secrets to successful early-stage investing…

By following a strict quantitative approach to making investment decisions, you can avoid investing in the types of startups that are more likely to run out of money…

And put yourself in better position to earn huge returns!

If you’d like to learn the details of our study — and the details of our quantitative approach to private-market investing — we have something special to share with you today…

It’s a way to get access to ALL of our private market research and recommendations, for LIFE.

All you need to do is cancel your current Crowdability membership.

Yes, I know that might sound strange…

But Matt explains everything here »

Best Regards,
Wayne Mulligan
Wayne Mulligan
Founder
Crowdability.com

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Source: https://www.crowdability.com/article/follow-this-rule-for-1000-returns

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Uhive: The Crypto-Powered Social Platform

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When investing, your capital is at risk. 

There are currently over 3.6 billion social media users around the world. However, if the countless recent data breaches and scandals have taught us anything, it’s that our data isn’t always used in the way that best serves us. 

Uhive is disrupting the social media space, with an entirely new network – one that’s sustainable, creative, fun, and completely transparent. How does it work? Uhive has created its own cryptocurrency – Uhive Token – which enables users to quickly and seamlessly make economic exchanges through peer-to-peer transactions. All advertising carried out on the platform is interest-based, meaning every user will be presented with the content they want to see, and nothing else. Uhive also facilitates the sale of in-app digital assets, without ever compromising on the security and privacy of its users’ data.

Uhive is pioneering a new content discovery user experience, in which individuals can communicate publicly, or anonymously interact with other users on the app. Since beta launch in May of this year, they’ve onboarded over 246,000 users and seen over 5 million posts contributed by active users. And the stats speak for themselves – Twitter saw just 1.6 million tweets in its first 12 months.

The Uhive team has been working hard to actively collect feedback and input from its users and continuously develop improved product iterations and bring new features to the platform. Since their beta launch, they’ve released over 50 new and updated features to the app. As it stands, Uhive’s unique content-discovery model allows users to tailor the content they wish to see by selecting from 26 different interests, while content creators can use Uhive’s paywall feature to earn, rewarding quality posts with cryptocurrency payments. That way, creators are able to earn from thousands of users, while users get access to the exclusive content they want to see. Through their partnership with Outbrain, Uhive ensures that all ad targeting is based solely on interests and previous ad-interaction, rather than user-behaviour, resulting in a more personalised and far less intrusive ad experience for users. In turn, advertisers can also expect more robust results from the campaigns.

Uhive’s campaign on Seedrs is now over 111% funded, and will help the brand to power their growth in the upcoming months. The funds raised from this round will be dedicated to expanding their technical team to enhance the capabilities of the app and build in new, game-changing features such as user paywall settings and virtual reality content exploration. Their plan for global launch in early 2021 is well underway, and Uhive will be focusing on supercharging their marketing efforts and reaching new audiences. 

To find out more about Uhive, and the investment opportunity, visit the pitch now.

Michaela Salomon

Michaela Salomon

Campaign Support Team

Source: https://www.seedrs.com/learn/blog/founder-stories/uhive-the-crypto-powered-social-platform

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