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Tech firm unveils Australian first initiative to help charities access blockchain funding

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In an Australian first, social enterprise Little Phil is partnering with a cryptocurrency provider to provide local charities access to alternative and sustainable fundraising streams.

To deliver this groundbreaking initiative it is working with Netherlands-headquartered firm Legends of Crypto (LOC) – a non-fungible token trading card game – to implement a trial that will see 10% of all sales go towards directly funding selected causes on the Little Phil platform.

Non-fungible tokens, or NFTs, are a special class of digital assets that cannot be exchanged with one another for equal value, or broken down into smaller bits, that often operate as a type of collectors’ item and cannot be duplicated. These represent the next phase in the application of cryptocurrency technology with LOC itself receiving significant support from leading industry heavyweights such as the CEO of bitcoin.com.

This initiative is designed to provide not-for-profits access to alternative streams of fundraising outside of traditional avenues and aid them in diversifying their revenue raising activities.

According to Little Phil Co-founder and CEO, Josh Murchie this trial is designed to test the efficacy of alternative funding streams as it seeks to empower charities to diversify how they raise revenue for their causes.

“This is a really exciting trial for Little Phil and Legends of Crypto as we seek to test this groundbreaking fundraising trial,” said Mr Murchie.

“Although awareness among the public about crypto currency is generally around Bitcoin and maybe Ethereum, the reality is that this is just the tip of the iceberg in terms of the technology explosion in this space. What we are seeking to do here is to trial the efficacy of utilising NFT’s to create a recurring revenue stream for charities and see if we can free them up from continually asking for donors to donate.”

Founded in 2017, Little Phil is a total giving ecosystem that connects donors, businesses, and brands more directly with charities and beneficiaries through its Blockchain inspired Fintech technology platform that allows users to select a cause that they care about and directly give to that specific initiative – allowing them to track their impact in real-time.

Its technology provides donors full transparency around where their donations go, while providing charities the ability to showcase the difference every dollar makes as it provides not-for-profits the ability to give updates on the impact each gift has – ensuring transparent giving.

Some of its clients and partners include Greenpeace, mental health charity LIVIN, and the Currumbin Wildlife Sanctuary located on the Gold Coast.

That is why it is trialing the partnership within LOC’s marketplace that sees users buy and sell uniquely designed NFTs only available via its marketplace – as it adheres to this philosophy of directly allowing donors to connect via the causes they care about.

In this instance the 10 per cent of the funds raised will go directly towards cancer survivors requiring funding for their treatment.

For Josh Murchie, this initiative is all about ensuring that Little Phil is providing the charity sector access to funding and technology that might otherwise not be available to them.

“Last year we ran a national survey – the State of COVID report into Australia’s not-for-profit sector – that unearthed some of the biggest issues facing the industry as a result not just of the pandemic but broader micro and macro trends,” Mr Murchie said.

“One of the critical elements we unearthed from the data is that the sector is beset by two key issues, the giving behavior of Gen Z’s and millennials, along with digital transformation and technology usage. This trial, allows us to test the ability of charities to raise funds using the latest digital currency technology to hopefully better engage these demographic cohorts by creating greater connectivity with causes they care about using these new financial assets.”

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Source: https://australianfintech.com.au/tech-firm-unveils-australian-first-initiative-to-help-charities-access-blockchain-funding/

Blockchain

Mining Bitcoin: How to Mine Bitcoin

Introduction to Bitcoin Mining Mid-19th century California gold miners were called “forty-niners” after the year 1849, but this rush actually spanned from 1848-1853; it took five years for a quarter-million people to flood the state in search of “free wealth”. Satoshi Nakamoto first published the white paper on cryptocurrency back in 2008, and Bitcoin was … Continued

The post Mining Bitcoin: How to Mine Bitcoin appeared first on CryptoCanucks.

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Introduction to Bitcoin Mining

Mid-19th century California gold miners were called “forty-niners” after the year 1849, but this rush actually spanned from 1848-1853; it took five years for a quarter-million people to flood the state in search of “free wealth”. Satoshi Nakamoto first published the white paper on cryptocurrency back in 2008, and Bitcoin was launched in 2009. Today, in 2019, there are at least a million bitcoin miners around the world. A single bitcoin (or “1 BTC”) is worth almost $10,000, give or take a few hundred dollars, and there are around 1,800 new bitcoins mined every day, meaning there’s a whopping $18,000,000 being ‘created’ every day.

Not bad for ten years. No wonder everyone wants to learn how to mine bitcoin.

A Brief History on Money

Cryptocurrency is math that can be used as money.

Money is, fundamentally, an accounting of debt; you owe someone for a good or service, and giving them money erases that debt. Banks are giant ledgers, accounting for every transaction – when you paid for your coffee, this “ledger” sees that you lost $2 and the coffee shop gained $2.

Paper dollar bills do not record this specific transaction – who lost and who gained those $2 – but they act as evidence of a transaction having taken place at some point. In fiat currency, a state is the ultimate arbiter or holder of all the debts – and the one that mints, or makes, the currency in the first place. They account for how much currency they put out, and approximately how much is present now; the only road bump being that they do not know every transaction in between.

In cryptocurrency, no one person or entity controls a central ledger, because this “ledger” is effectively on every computer connected to the network of that currency; everyone has it. Since each unit of the cryptocurrency is composed of math, as opposed to physical substances like paper or gold, this math effectively records every transaction

So Where Does it Come From?

Fiat currencies are “made” (or rather, minted) by states, and accounted for by banks, but these currencies are often directly or indirectly made from precious metals that are mined from the Earth – which is why so many people flooded California in the mid-19th century. Minting is a middle step between the mining and the currency.

Cryptocurrency cuts out that middle step; bitcoin is “minted” and made from BTC mining.

If bitcoin is commercialized math, then mining is the process of solving all its equations. A common, yet accurate, joke explanation is, “imagine if you could solve puzzles, then use those solved puzzles as money”. Bitcoin is that, but on a much larger and astronomically more complex scale; bitcoin mining is both the process of solving puzzles, and the process of verifying other solves puzzles.

That said, these “puzzles” (called “blocks” in BTC mining) are operating on a very complicated scale. BTC mining is basically the process of racing to correctly the correct number out of 115,792,090,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000 possible options – and doing so hundreds, thousands, maybe even millions of times a day. This takes some pretty hefty computing power.

How to Mine Bitcoin

Despite a lot of chatter about bitcoin mining software, it is really a matter of hardware; software is just the most accessible way to access this hardware.

“Winning” or solving – and receiving payout for – is a combination of computational power and a bit of luck. If you accomplish this, you can get about 12.5 bitcoins, though starting in 2020, that will become 6.25. The number of bitcoins you receive for solving a block cuts in half every 210,000 blocks – which is roughly every four years, since the blocks get more and more complicated over time. This will keep going until 21 million bitcoins have been mined, a cap built into the system. There are currently only 3.17 million bitcoin left to be mined.

How to Mine Bitcoin in the Hard(ware) Way

There are two types of “miners” you can buy: application-specific integrated circuit (ASIC) or graphics processing unit (GPU). These are not only very expensive to buy, but they also take up a lot of electricity and require a powerful network connection. This is why mining calculators exist – these are various apps and sites into which you can input details on your miner, your power cost, and your network cost, to figure out how much profit (if any, even) you will turn.

It is usually pretty low, and these days, mining with your own hardware is only really advised for people who already happen to have lots of hardware and great network on hand, and would not need to go out of their way to get those.

That just leaves…

How to Mine Bitcoin With Bitcoin Mining Software

At 12.5 BTC per block, when bitcoins are worth $10,000 each, that’s $1,250,000 on the line every time you are competing with other miners to “guess the right number” first. This takes far more computer power than most people can afford on their own.

As such, the most common way to get in on BTC mining is to join a collective of miners and “rent” the mining tools – known predominantly as cloud mining.

The biggest advantage is that there is a much lower barrier to entry when you cloud mine bitcoins. The biggest disadvantage is that instead of getting the reward all to yourself, you are splitting those bitcoins with other people, and typically a lot of them. Winning a million dollars doesn’t mean as much when you’re splitting it with a million people.

Step 1: Choose Your Wallet

Before you start working for a job, you want to know how you will be getting your pay. By the same token, before you start mining for bitcoins, you should know where you will keep your bitcoins once you earn them.

Online wallets are typically the most convenient, and easiest to use. They are also typically the most efficient for actually using your bitcoins to purchase goods and services, and you will have your bitcoins even if you lose all your devices. That said, this does put you in a similar position with a bank. If the host is experiencing heavy traffic or DDOS attacks, you may not be able to access your funds, and if they are hacked, you can lose your bitcoins entirely.

Hardware wallets are the opposite extreme. As physical objects, are completely offline, and thus cannot be hacked or otherwise remotely attacked. As long as you have your hardware wallet and a device to access it with, you will be able to access your funds. But what you gain in remote security is lost in personal security; if you lose your device or it’s physically stolen from you, you lose your bitcoins.
The middle-ground between these is “software wallets” or “desktop wallets” (though these can also be mobile apps). These are on your local device, so even if exchanges go down or are attacked, you still have your bitcoins, and the only way you can lose them to remote exploitation is if you, the specific individual, are targeted and hacked, which is very unlikely. But, it can still be used to conduct transactions and otherwise go online as necessary. That said, this is also vulnerable to loss if you lose your physical device (i.e. if someone steals your computer).

Step 2: Find Your Cloud

Mining companies are the computing clouds or collectives of miners. While joining such a company might be couched in terms of renting the hardware, another way to look at it might be that you are investing.

The amount you invest, or the rate at which you rent, is known as a “mining package”, which you pick once you join a mining company. You can also invest ahead of time in new technology that will be coming out at a later date. That said, investing in something that doesn’t exist yet is always a heavy risk.

There are many sites in which you can find comparisons between companies, including user ratings and reviews. Be careful with the
reviews – while they can be insightful, many are also full of people attempting to get new ‘recruits’ specifically with referral codes, which will net the refer-er a small bonus or profit.

Step 3: Pick Your Pool

A “pool” is basically the team of miners that you choose to join up with, and contribute your invest or computing power. If you are just starting out mining bitcoins, you should start by joining an “older” (or rather, more established and vouched-for) pool, and perhaps one with lower fees. The payout or profit from these will usually be on the low side, but they are also less risky.

As you get the hang of bitcoin mining and learn how pools work, you can start venturing out to other pools that aren’t as established and carry higher risks, but also higher rewards.

Buy Bitcoin, Ethereum, XRP, and other cryptocurrencies on Coinsquare, the world’s home for cryptocurrency.


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Source: Coinsquare: Mining Bitcoin: How to Mine Bitcoin

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Source: https://cryptocanucks.com/mining-bitcoin-how-to-mine-bitcoin/

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Meme Crypto Asset Surges 167% After Abrupt Binance Listing – And It’s Not Dogecoin

The price of another dog-themed token is surging after its abrupt listing on global crypto exchange Binance.  On Monday, Binance announced that Shiba Inu (SHIB) is available for trading for the SHIB/BUSD (Binance USD) and SHIB/USDT (Tether) trading pairs. Shiba Inu (SHIB) is a meme coin created in a similar spirit as Dogecoin (DOGE). According […]

The post Meme Crypto Asset Surges 167% After Abrupt Binance Listing – And It’s Not Dogecoin appeared first on The Daily Hodl.

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The price of another dog-themed token is surging after its abrupt listing on global crypto exchange Binance. 

On Monday, Binance announced that Shiba Inu (SHIB) is available for trading for the SHIB/BUSD (Binance USD) and SHIB/USDT (Tether) trading pairs.

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Shiba Inu (SHIB) is a meme coin created in a similar spirit as Dogecoin (DOGE). According to its website, it plans to outperform DOGE while enabling traders to hold billions or even trillions of the meme crypto asset.

According to CoinGecko, Shiba Inu (SHIB) soared from a low of $0.00001405 on May 10th to as high as $0.00003755 on May 11th, marking an increase of 167% after the Binance listing. The Dogecoin competitor has retraced since, and it is now trading at $0.000027. 

Binance CEO Changpeng Zhao says that the exchange decided to add the new meme cryptocurrency because of high demand from traders. 

“Some have voiced concerns about SHIB listing. We follow users. There is a large number of users demanding it, to the point where we ran out of ETH deposit addresses due to SHIB today. Never happened before for any other ERC20 coin.”

The Binance head adds that the listing does not mean that he is endorsing the Dogecoin-inspired (DOGE) cryptocurrencies. He also warns traders about the risk of buying coins that they do not fully understand as these crypto assets can be super high risks investments. 

“Disclaimer: I do not own any DOGE or SHIB. I am/we are neither for or against them. Just providing a neutral marketplace.”

Shiba Inu is not the only dog-themed crypto asset that has seen its value meteorically rise as of late.

One new dog-related coin, Baby Shiba Inu (BHIBA), surged from $0.00000735 to as high as $0.0000794, representing an increase of more than 980% in the last 48 hours.

BHIBA is currently trading at $0.00005013, with a total daily volume of $20.32 million.

Joining BHIBA are several meme coins, including KEANU, which printed 27,200% gains in one day from $0.0000000000001 on May 10th to $0.0000000000273 on May 11th. The meme coin is now trading at $0.0000000009257 with a daily trading volume of $23.41 million.

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Another dog meme-focused coin, Hokkaida Inu (HOKK) was trading at $0.0000000015 on May 9th and rallied 373% to $0.0000000071 by May 11th.

Kishu Inu (KISHU) rallied from $0.0000000039 to $0.000000012 in less than 24 hours, a gain of 207%, before correcting.

Akita Inu (AKITA), another dog-related meme coin, exploded nearly 10x from $0.000003 to $0.000029 in less than 24 hours.

The explosion in dog meme related crypto assets has conflicted the cryptoverse. Michael Saylor, CEO of Microstrategy who has the second largest corporate holding of Bitcoin, said recently that Dogecoin was good for the industry. According to him, it was making crypto fun, and drawing in lots of newbies to the space.

Meanwhile, Cardano creator and Ethereum co-founder Charles Hoskinson was critical of DOGE, saying it was attracting many new people to the space for all the wrong reasons, referring to it as an “existential threat.”

While Tesla CEO Elon Musk is a huge supporter of Dogecoin (DOGE), he recently issued a warning to his followers about investing in cryptocurrencies.

“Cryptocurrency is promising, but please invest with caution!”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Quardia/Alexander_Evgenyevich

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Source: https://dailyhodl.com/2021/05/12/meme-crypto-asset-surges-167-after-abrupt-binance-listing-and-its-not-dogecoin/

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NetShop ISP Announce Their Attendance to the iFX EXPO in Dubai

NetShop is delighted to present their range of services to some of the world’s biggest industry leaders.

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NetShop Internet Services Ltd have announced their attendance at this year’s iFX EXPO, the first ever in Dubai, on the 19th and 20th of May 2021.

NetShop is delighted to present their range of services to some of the world’s biggest industry leaders at the largest B2B Fintech and online trading conference later this month.

This year’s exhibition will take place at the 5 star Grand Hyatt Hotel in Dubai, where top-level executives from all over the world will have the opportunity to connect.

After a year of virtual events due to restrictions, NetShop’s CEO, Stefano Sordini has said “We really missed attending physical events in 2020.

After our exhibition and presence at several virtual events in the last 12 months, we are excited for our upcoming tour in Dubai to meet existing customers and partners, as well as for the opportunity to present our successful Forex infrastructure solutions to our industry peers.”

The NetShop ISP team is keen to present its Forex VPS solution to Brokers, as well as its bespoke infrastructure services for liquidity providers, CRM & Software development agencies and Payment institutions.

They will be represented at the iFX EXPO by their Head of Sales, Katerina Burtsava and Product Specialist, Kateryna Nechaieva, both of whom have been highly involved in the Forex Industry for some time, working closely with Forex brokers and CRM development agencies.

The Cyprus-based Web Hosting Provider has been heavily involved in the Financial Industry since their launch in 2004 and have greatly invested in their state-of-the-art privately-owned infrastructure in 7 global locations; Cyprus, Malta, Los Angeles, the United Kingdom, Singapore, Hong Kong and the Netherlands.

NetShop was amongst very few hosting providers to offer Virtual servers purely for Forex trading purposes when they first introduced the Forex VPS solution in 2010.

A decade later, the multiple award-winning Hosting Provider has announced the launch of its new Forex VPS service, the result of extensive research and development. It includes a powerful API for seamless white-label integration with any Forex Broker’s CRM, amongst other features.

Brokers can easily integrate NetShop’s word-class Forex VPS product with PHP, Java or Python and the API can be used to tailor functionalities to meet any Broker’s bespoke requirements.

Benefits of NetShop’s Forex VPS:

NetShop ISP’s new Forex VPS solution caters to Traders and Brokers. Some of the benefits of Forex VPS with NetShop are:

  • Rapid trade execution as fast as 1 millisecond
  • 24/7 uninterrupted connection
  • Infrastructure located in prime financial hubs
  • 24/7 Technical Support through multiple channels
  • Free VPS Windows OS license
  • Discounted monthly VPS pricing for Brokers
  • Cost-effective solutions

For a full breakdown on their Forex VPS service you can visit NetShop’s website.

If you would like to book a meeting at the iFX EXPO with a NetShop representative, you can visit their website here.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.financemagnates.com/thought-leadership/netshop-isp-announce-their-attendance-to-the-ifx-expo-in-dubai/

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TMX Group Reports Revenue of $252 Million in Q1 2021

The net income jumped 38% to $96.4 million during the first quarter of 2021.

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TMX Group, the operator of the Toronto Stock Exchange, announced its financial results yesterday for the first quarter of 2021. TMX Group reported $252 million in revenues during Q1 of 2021, which is up 14% from $220.3 million in Q1 of 2020.

According to the official announcement, the net income spiked 38% to $96.4 million during the first three months of 2021. The company increased the quarterly dividend to 77 cents per common share. Diluted earnings per share reached $1.70 in Q1 of 2021, which is an increase of 37% compared to the same period in 2020.

Looking Forward to Meeting You at iFX EXPO Dubai May 2021 – Making It Happen!

Commenting on the latest announcement, John McKenzie, Chief Executive Officer of TMX Group, said: “TMX’s strong performance in the first quarter reflects significant contributions from across our business and robust capital markets activity, including a 122% increase in financing dollars raised by Toronto Stock Exchange and TSX Venture Exchange issuers, and record overall equities trading volumes, up 50% from the first quarter of last year. In collaboration with our clients and stakeholders, we continued to build on TMX’s history of innovation during the quarter, with the launch of the world’s first publicly listed Bitcoin and Ether ETFs.”

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TMX Group reported a jump of 18% in revenues from equities and fixed income trading and clearing during the last quarter. Revenues from capital formation stood at $61.1 million, which is up from $40.1 million in Q1 of 2020.

Operating Expenses

TMX Group saw a jump in operating expenses during the first three months of 2021 as the total operating expenses increased nearly 9% to $119.3 million in Q1 of 2021. In the first quarter of 2020, TMX reported operating expenses of approximately $109 million.

“The increase reflected higher costs related to our short term employee performance incentive plan and sales commissions of approximately $5.1 million, increased severance costs of approximately $1.2 million, higher headcount and payroll costs, increased software licensing, information security and information technology professional services expenses,” TMX mentioned in the official announcement.

Finance Magnates earlier reported about a jump in revenues of TMX Group during 2020.

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Source: https://www.financemagnates.com/institutional-forex/tmx-group-reports-revenue-of-252-million-in-q1-2021/

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