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Author Topic: StormGain is a crypto trading platform for everyone.  (Read 103054 times)

Online Libertex

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Re: StormGain is a crypto trading platform for everyone.
« Reply #30 on: July 15, 2021, 11:59:30 AM »
NFT furure
« Last Edit: July 15, 2021, 12:03:17 PM by Libertex »

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Re: StormGain is a crypto trading platform for everyone.
« Reply #30 on: July 15, 2021, 11:59:30 AM »

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Re: StormGain is a crypto trading platform for everyone.
« Reply #31 on: July 15, 2021, 12:46:54 PM »
A bad month for bitcoin

Right now, bitcoin’s price has consolidated around $30,000, but it still shows potential signs of further decline. China is criticising cryptocurrencies, US Senator Elizabeth Warren has issued an ultimatum to the SEC, and the Grayscale fund could sell bitcoin for about $500 million.



On 8 July, Fan Yifei, the deputy governor of the People’s Bank of China, called stablecoins a danger to the global economy. In his view, this especially pertains to coins issued by commercial organisations like Tether. This statement was made just 10 days after the president of the Federal Reserve Bank of Boston, Eric Rosengren, called Tether a “challenge to financial stability”.

Stablecoins interlink fiat currencies with cryptocurrencies, and most cryptocurrency exchanges use Tether as a base currency. Representatives of the largest financial systems were not impressed by the fact that Tether is backed by consolidated assets exceeding its capitalisation, and the New York Attorney General’s Office was satisfied with the results of an external audit.

On 7 July, US Senator Elizabeth Warren wrote to SEC Chairman Gary Gensler, asking to clarify the regulator’s powers in the area of protection of crypto investors’ rights: “Investors have remained in the arms of manipulative and fraudulent actors due to the lack of rules”, she wrote. According to the senator, the cumulative losses incurred due to crypto fraud between October 2020 and March 2021 was $80 million. On top of that, LJM (an entity licensed by the SEC and CFTC) lost $1 billion of investors’ money in just two days in 2018, when regulators weren’t paying attention to high-risk trading.

In addition to regulatory complications, bitcoin’s supply may grow in July. A number of institutional investors have preferred to buy equity in the Grayscale Bitcoin Trust (GBTC), a crypto fund. In December 2020, the market was hot, and investors were buying shares with a 40% premium. Now, the equities are being traded at a discount while institutional players have switched to the Canadian Bitcoin ETF created in February 2021.



GBTC has a unique feature that prevents investors from selling shares within 6 months. This month, positions worth $530 million that were opened in December 2020 will be unlocked. The current price is slightly above December’s close, which may cause investors to exit.

As such, bitcoin’s environment is becoming less positive. Regulation will be tightened, and many investors can offload their holdings. Altogether, these factors can drop the cryptocurrency to below $30,000.


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Re: StormGain is a crypto trading platform for everyone.
« Reply #32 on: July 23, 2021, 03:14:30 PM »
How to cash in on the crypto crash

The price of Bitcoin — the first cryptocurrency — has suddenly crashed to under $30,000 after several weeks of struggling to hold on to its gains. And where BTC goes, altcoins tend to follow. Ethereum (ETH), Binance Coin (BNB), Cardano (ADA), Ripple (XRP) and Dogecoin (DOGE) all took double-digit dips.

What could explain the dramatic drop? Elon Musk’s tweet stating that Tesla would no longer accept Bitcoin for vehicle purchases due to “environmental concerns” has been cited as one factor. But even the mighty Musk doesn’t have the impact that China does.

The Chinese crackdown on crypto has seen its financial institutions banned from dealing in crypto transactions, including clearing, trading, and settlements. This was followed by an exodus of mining operations from the Asian superpower. Another blow comes from the USA, where a recent cease and desist order issued to New Jersey-based Bitcoin financial services platform BlockFi by the New Jersey Office of the Attorney General and the Bureau of Securities seems to have triggered a wave of panic among speculators, who are looking to get out of the market.

What does this mean for traders? While trading during a market crash can be emotionally tense, it’s also a time of opportunity. One only has to consider how much profit could have been made buying more Bitcoin during its $6,000 low point last year!

First of all, stay calm and assess the situation. Panicking and acting on impulse is rarely a good move in the market. You want to profit from other people’s panic, not participate in it. Consider your goals: are you looking to profit from investing in crypto in the long term or make a quick profit in the short term? Is your investment of an appropriate size (i.e., can you afford to take a hit in the short term)?

Remember that volatility is a persistent feature of crypto markets and is, in fact, the best way to profit from it. Previous Bitcoin price tumbles in 2017-2018 and as recently as 2020 provided golden opportunities for traders who bought low and sold high when the market bounced back.

Depending on your position, you may want to sell to salvage in the short term or lean into your investment for the long term. Alternatively, a hybrid approach could be safest: divest yourself of the assets you are least sure of but hold on to some to profit when the bull market returns.

Above all, don’t forget to use the full range of StormGain features to make your decisions. Check our trading signals to evaluate market conditions before you make a move. Keep an eye on the full range of altcoins to see any that might break the trend (remember, DeFi tokens did remarkably well during previous BTC price dips). And remember: you can trade to profit from volatility.

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Re: StormGain is a crypto trading platform for everyone.
« Reply #33 on: July 30, 2021, 01:24:04 PM »
Kazakhstan – the new mining capital

Two months ago, China recognised mining as an unwanted activity. This caused a record slump in the hashrate and a migration of miners to more welcoming countries. They did not have to go far: neighbouring Kazakhstan seized the opportunity that fell in its lap.



The shutdown of Chinese mining rigs led to a power decrease in the Bitcoin network from 190 EH/s to 70 EH/s. However, starting the second week of July, the value began to grow, currently sitting at 108.8 EH/s. The hashing power began to grow because Chinese miners started to deploy their mining equipment in other countries. For instance, BTC.com, the biggest mining pool from the Sichuan province, is moving to Kazakhstan, a choice that wasn’t accidental: Kazakhstan shares a border with China, provides cheap electric energy and is open to host cryptocurrency miners.

Kazakhstan increased its share in the world’s hashrate from 4% to 7%, and the new legal framework can make this country the crypto capital. For instance, crypto exchanges registered in the Astana International Financial Centre will soon start to work with local banks, and citizens will be able to buy and sell cryptocurrency. This is currently just a pilot project, and the operations on the exchanges will be available for legal entities only.

According to the chief coordinator of the Blockchain Association in Kazakhstan, Sergei Putra, the daily volume of cryptocurrencies equates to billions of dollars. If the country manages to acquire 1% of this volume, this money will go to Kazakhstan in the form of investments, taxes and wages.



The miners will also contribute to the treasury. Starting from 2022, an additional fee of 1 tenge will be charged for every kilowatt used. With the current consumption level of 3.5 TW/h, the revenues will constitute 3.5 billion tenge or about $ 8.225 million per year.

Kazakhstan is taking its first steps towards officially recognising cryptocurrencies. We hope this experiment’s success and tax growth will lead to a mainstream integration of new products.


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Re: StormGain is a crypto trading platform for everyone.
« Reply #34 on: August 02, 2021, 05:41:14 PM »
Bitcoin is preparing for a new supercycle

After two months of consolidation, a fake news impulse was enough for Bitcoin to climb to its key resistance level. Recent metrics indicate a swift breakthrough above $40,000 in the near future.



On Sunday, the City A.M. in London published an 'inside' report about Amazon's plan to include bitcoin in its list of accepted payment methods. The news led bitcoin to its best movement in the last six months, surging 14% in 12 hours. The refutation published later didn't cause BTC to retrace its rise, which implies increased interest in this cryptocurrency and high growth potential. There was the biggest one-day bitcoin withdrawal from exchanges in the past 12 months, with 57,000 BTC being moved to cold wallets on 30 June.



Analytical agency Stack Funds points to the similarity between the derivatives market in its current cycle with what was happening in Q4 2020 when bitcoin showed threefold growth after a prolonged consolidation. Analysts remain cautiously optimistic regarding the start of a new supercycle.



There's active resistance between $41,000 and $43,000, where substantial volumes have been accumulated, including bearish hedge orders. A breakthrough above this level will open the path towards $50,000.



A growing interest in bitcoin is also seen in the increasing number of users. From the nine-month period between May 2020 and January 2021, the audience grew from 65 million to 100 million. Just six months later, it grew again from 100 million to 221 million people.



The number of crypto users continues to grow despite regulatory frameworks becoming stricter in some countries and China's crackdown on miners. The bitcoin network's hash rate has already started to recover, and the coin's price is rising again. The time for a new supercycle may have arrived.


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Re: StormGain is a crypto trading platform for everyone.
« Reply #35 on: August 03, 2021, 01:13:47 PM »
Climate-conscious crypto: the difference between real change and marketing

As cryptocurrency increasingly becomes part of the public consciousness, the discourse around the environmental impact of mining has become more intense. On the one hand, the singling out of cryptocurrency by some pundits clearly comes from detractors looking for any opportunity to criticise digital currencies. However, on the other hand, there's a belief that the blockchain industry — founded on the principle of forward-thinking solutions to problems of the modern economy — needs to assume responsibility for the environment.

The environment, sustainability and green energy are hot topics in the tech industry. The disruption caused by the COVID-19 pandemic and the apparent environmental benefits that occurred during the lockdowns spurred thought leaders to consider how things could be done differently, especially if another global crisis should occur in the form of a climate change emergency.

Bitcoin and other cryptocurrencies have been under the spotlight because new tokens are 'mined' using a proof-of-work algorithm that demands a lot of computing power from miners. Large numbers of powerful computers naturally demand a commensurate amount of electricity. According to the Bitcoin energy consumption index, Bitcoin uses 135 terawatts of energy every year, roughly equivalent to that of the entire nation of Sweden. Furthermore, many large scaling mining sites, known as farms, are located in regions like China that are heavily dependent on fossil fuels to generate electricity.

Critics are increasingly pointing the finger at BTC mining's energy consumption. Recently, New York-area residents complained that a new gas-fired power plant dedicated to mining Bitcoin was turning the local lake into a "hot tub", although the company operating the factory has refuted these claims. Even crypto advocate Elon Musk declared that Tesla would no longer accept Bitcoin as payment for cars due to "environmental concerns".

Musk's remarks shook the crypto market because, in many ways, the South African billionaire embodies the tension at the heart of the crypto energy issue: maintaining enthusiasm about blockchain technology's potential while remaining committed to the environment. If crypto is to fit into the new world of electric cars and green tech, it needs to find a way to be eco-friendly. This is important for blockchain adoption. Crypto exchange platforms that empower people to trade cryptocurrencies from their smartphones are becoming more popular than ever. Crypto exchanges reported a significant increase in new users as people turned to crypto as a way to earn money from home during the pandemic economy. These new users skew young, tech-savvy and climate-conscious. So how are crypto companies trying to convince them?

Ripple signs the Crypto Climate Accord: progress or PR?

Crypto mining was a hot topic at the annual UN World Environment Day on 5 June. In response to the concerns raised, the Crypto Climate Accord (CCA) was announced by a group of private blockchain organisations. Modelled on the Paris Climate Accord, the CCA declares its mission to transition all blockchains to renewable energy by 2030 or sooner and eliminating greenhouse emissions by 2040 with support from the United Nations Framework Convention on Climate Change.

The accord boasts the backing of several prominent personalities and companies, such as Ripple, Consensys, and Tom Steyer, the billionaire activist and financier. The UN's ‘climate champions’ are also on record as supporting the accord.

The CCA has noble goals on paper, but they may not amount to much in the real world. After all, the Paris Climate Accord, an official agreement among nation-states, is criticised for its failure to meet targets. So what, then, can the industry-led CCA initiative do, even with backing or regulation from governments? Essentially, the industry is promising to self-regulate, but can the crypto companies really hold themselves accountable?

Tellingly, the cryptocurrency signatories to the accord need to make the least effort to align themselves with its goals.

Research the different cryptocurrencies (we recommend using our extensive knowledge base), and you’ll notice something about Ripple. XRP does not use the energy-intensive Proof-of-Work (PoW) consensus protocol. Instead, it uses the much more efficient proof-of-stake (PoS) model, so XRP’s environmental impact is already minimal compared to Bitcoin.

The PoS consensus protocol looks like the future of crypto and is seeing increased adoption across the industry. For example, Ethereum (ETH) is moving over from PoW to PoS and will certainly reduce its carbon footprint by so doing. But if the CCA is only supported by existing users of the PoS model, it will do nothing to reduce the impact of PoW blockchains, especially BTC, which is not controlled by any entity capable of making the shift. Instead, it only serves as positive PR for Ripple and Co.

Global Bitcoin mining “mainly sustainable” and still very profitable

Bitcoin miners are aware of their operations' current energy-intensive reputation and are taking steps to assure the public that they are moving towards a greener model. A recent report from the newly established Bitcoin Mining Council has declared that global Bitcoin mining is now mainly powered by “sustainable energy”.

The report notes that “the members of the BMC and participants in the survey are currently utilising electricity with a 67% sustainable power mix” and goes on to extrapolate that global Bitcoin mining is currently running on 56% sustainable energy.

Much like the CCA, the BMC is a voluntary collaboration of private companies, including MicroStrategy’s CEO, Michael Saylor. It’s very possible that less sustainable operations would refuse to participate and thus skew the data. The Mining Council report focuses on its own members, reflecting the interests of these companies to paint themselves green.

The report also details Bitcoin’s recent hashrate drop confirming that it is the “largest linear decline for the foremost cryptocurrency’s hash rate in history”.

The near 70% drop in computing power dedicated to mining Bitcoin is largely due to the crackdown on Bitcoin mining in China. Miners are relocating their operations to other regions or selling their equipment, which may actually have positive knock-on effects for Bitcoin’s environmental impact if they end up in regions with stricter environmental controls. While BTC’s hashrate may be down, profitability remains good, largely because the pool of profits is split among fewer users.

Profit from BTC mining without wasting energy

Bitcoin isn’t moving away from PoW anytime soon, but you don’t have to buy an electricity-guzzling mining rig to do it. Instead, some companies are pioneering innovative ways to share BTC profits over the cloud. Crypto exchange StormGain leads the pack in this respect, offering a unique Bitcoin ‘cloud miner’ to its users. As traders use the platform for buying, selling and exchanging crypto, they can mine BTC that gets credited to their account without any extra use of their smartphone or computer’s resources. You can find out all the details about StormGain’s unique cloud miner here. Innovations like this are a great way to earn crypto without using excessive energy, and we recommend it as an eco-friendly alternative to purchasing mining hardware.

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Re: StormGain is a crypto trading platform for everyone.
« Reply #36 on: August 05, 2021, 01:30:43 PM »
Bitcoin ATMs bring cryptocurrency to the masses

Many still distrust Bitcoin because blockchain technology seems puzzling to them. After all, cryptocurrency operations are only available on exchanges, and you can’t put a physical coin in your pocket. ATMs can bridge that gap because they’re familiar, understandable tools for an overwhelming majority of people on the planet.

In 2017, crypto enthusiasts and the publicity surrounding Bitcoin as a novel financial instrument were driving its rally. In 2020, interest in cryptocurrencies from institutional investors as an alternative to traditional hedging assets drove prices upward. In 2021, another rally can happen, given the interest and vast recognition of cryptocurrencies among the general public. The new ATMs will play a part in that.

In the last seven months, the number of new cryptocurrency ATMs has grown by 71% compared to last year, reaching a total of 24,500 machines. Every day, over 48 cryptocurrency ATMs are installed around the world.



The United States is the leader in the number of active units with 86.5%, and Canada is second with 6.8%. However, the biggest increase is expected in El Salvador, which has recognised Bitcoin as a lawful payment method. In the near future, American operator Athena will single-handedly deploy 1,500 machines in this El Salvador. For comparison, Coin ATM Radar currently shows only five units there.

The spread of ATMs can cause a new wave of demand for Bitcoin. The analytics firm Ascent recently conducted a survey and found out that the biggest barrier to owning cryptocurrency is a lack of understanding of how to get it. Results showed that 20% of Americans surveyed would like to buy Bitcoin but don’t know how to do so. The survey also indicated that about 50 million people were planning to buy cryptocurrency in the next two years.



Cryptocurrency cash can eliminate the barrier identified in the survey because they are a familiar intermediary between people and their financial accounts. Coinsource’s Director of Marketing & Strategy, Derek Muhney, predicts that this market will grow to 100,000 units, and the industry market cap could reach $1.7 billion. The emergence of cryptocurrency ATMs makes purchasing Bitcoin a very simple task that can potentially attract new users to this industry and continue to grow the network’s activity.


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Re: StormGain is a crypto trading platform for everyone.
« Reply #36 on: August 05, 2021, 01:30:43 PM »


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Re: StormGain is a crypto trading platform for everyone.
« Reply #37 on: August 06, 2021, 10:22:24 AM »
Ethereum hard fork: Mining profits under threat

On 5 August, the Ethereum network’s London update will take place, which is expected to change the order in which transaction costs are determined. Before the update, the network used the auction mechanism through which miners would first add the transactions with the highest rewards to a block. This leads to the excessive growth of transaction fees if volume increases and, consequently, delays on the network. Furthermore, fee amounts don’t depend on the transaction’s amount, which makes small transfers impractical. Currently, the average commission value is around $6; in May, it hit a record $69. The hard fork is meant to reduce volatility and bring down costs.



After the update, there will be a base fee for a transaction that will be adjusted by the network algorithm depending on the network load. The users can pay more than the base fee to make their transactions go faster and set a limit on the fee.

After a block is completed, a deflationary mechanism is launched. The base rate is burnt, and the miner gets income from signing the block and collecting tips on top of the base fee.



Various estimates believe this change could lead to a 20%-50% reduction in mining profitability, which has led to discontent among some miners. However, the developers have reminded them of a few things. First, rewards in the Bitcoin network get halved every four years. Second, Ethereum is preparing to transition to a proof-of-stake protocol and completely abandon mining. In addition to that, the deflationary mechanism stipulates that the coin’s price will grow, which means that the reduction in profit from processing transactions is compensated by the increased reward for signing blocks.



In reality, it’s hard to assess the impact that the London hard fork will have on commissions as users will continue to pay for priority. Consequently, the loss from the burn of the base fee can be compensated by the growth in tips, while the profit from mining will remain at its current level or even increase since there is no set maximum amount for paying for priority.

The deflationary mechanism may also raise a lot of questions. After all, if the reward amount for signing a block outstrips the income from processing transactions, the reward will become inflationary, and mining pools will be incentivised to add empty blocks. Users will have to substantially increase their tips to have their transactions included in a block.

As such, there is a risk that the hard fork will not produce the expected improvements. The situation will radically improve only with the transition to Ethereum 2.0, which is promised for December 2021. In this hard fork, at least, the difficulty bomb is scheduled for this date. After that, miners will have to look for other coins to make a profit, and the fees will become reasonable.


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Re: StormGain is a crypto trading platform for everyone.
« Reply #38 on: August 10, 2021, 04:13:36 PM »
Should you invest in Dogecoin’s copycat?

The popular meme cryptocurrency Dogecoin has increased in price 2,000-fold since it launched. It currently ranks 8th among cryptocurrencies by market capitalisation, coming in at $26 billion. This success was the reason for a wave of copycats, and Elon Musk — called “the Dogefather” by his admirers — played an important role in their surge in popularity.



In 2013, Jackson Palmer and Billy Marcus launched Dogecoin as a joke and named it so that no one would take it seriously. But users loved it, and the coin quickly amassed a vibrant community. In 2014, they used Dogecoin to raise funds for charity events, after which the coin became really popular, and its price started a meteoric rise.

More than once, Elon Musk declared his love for the community on Twitter, and the cryptocurrency’s price jumped after every tweet.



Dogecoin’s success sparked many copycats, with the website news.bitcoin.com finding 30 of them as of 4 August, though there are, in fact, more.



Contrary to Dogecoin, a decentralised coin supported by miners’ operations, the copycats’ issuance is in the hands of individuals primarily chasing material wealth. For some reason, Elon Musk pumps them, too, every now and again, causing serious price movements for these low-liquidity assets. At the beginning of July, he wrote the inscrutable “BabyDoge, doo, doo, doo…”, which was followed by Baby Doge Coin rising threefold. Less than two weeks later, he made a DaddyDoge shout-out for his audience: in one day, that coin’s price rose ten times, and its daily volume increased from $300,000 to $15,000,000.

But not all individuals support the Dogecoin copycats. Searching for acknowledgement, Shiba Inu’s founders gifted half of their issued tokens to Vitalik Buterin, over $7 billion at the time. He sent $1 billion to an Indian anti-COVID fund and simply burnt the rest, asking the community not to bother him with such gifts. Following the news, the token’s price plummeted down.

However, this is typical of such copycats: once a high-visibility person mentions them, their price increase several-dozen-fold but doesn’t stay there. So, if you want to have a laugh along with the others and invest in a meme cryptocurrency, Dogecoin is still the best bet.


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Re: StormGain is a crypto trading platform for everyone.
« Reply #39 on: August 12, 2021, 11:30:43 AM »
$1.5 Billion worth of ethereum to be burned by year’s end

On 5 August, the London hard fork took place and launched a deflationary mechanism for Ethereum. In it, the base payment for processing transactions will now be burned, and miners only get a ‘tip’ for mining a block. Around one-third of the newly mined ETH will be burned.



In general, about 2.5 ETH get burned every minute, which, at the current pace and the price of the altcoin, will lead to $1.5 billion worth of the asset being taken out of circulation by the end of the year and 0.4% from its entire capitalisation. This is expected to act as a deflationary mechanism that will lead to an increase in price due to reduced supply. The network’s upgrade has already caused a 13% price spike, although many envision Ethereum reaching $4000 – $5000 by the end of the year.



Despite the storm in the Chinese market, investments in the cryptocurrency market are at their peak. For example, in the first half of 2021, world venture capital investment funds constituted $288 billion, 95% higher than in the same period in 2020. The biggest interest is with the projects linked to NFTs and DeFi services, most of which have been built using Ethereum smart contracts. Because of that, the share among all cryptocurrencies has grown from 8% to 20% in six months.



But not everything is working according to plan. Despite the deflationary mechanism, the hard fork was meant to lower the fee size by abandoning the auction model. Despite the relatively small ‘tip’ size, the cumulative fee size has continued to grow.



High fees hinder the attraction of new investments and diminish interest in Ethereum, but everything is expected to change with the coming of Proof-of-Stake, which is expected to launch in December 2021. The new algorithm will end mining, increase operation speed and decrease transaction costs. The nearing transition that many are anticipating, plus the deflationary mechanism, could be a catalyst for Ethereum’s price growth for the rest of the year.


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Re: StormGain is a crypto trading platform for everyone.
« Reply #40 on: August 13, 2021, 11:10:24 AM »
Bitcoin or Gold: 571,000% or -5.5%?

Bitcoin has proven to be a more profitable investment than gold.

Gold loses to Bitcoin in the 1-year and 10-year ranges.

While some are debating whether investments in bitcoin and gold can be compared, the maths gives a clear answer that doesn't favour the precious metal. The 10-year yield of gold has gone into the red while investments in Bitcoin have reached a mind-boggling 571,000%.



Back in 2017, a troy ounce of gold could get you 1 digital coin. Since then, the price of gold has fallen to be 25 times less than that of Bitcoin. Gold has always been viewed as a hedge against inflation, so it's even more surprising to see it fall to a four-year low four days before the United States releases its inflation report.



Inflation is at its highest level in the past ten years. The Federal Reserve is starting to curb its bond-buying programme in Q4 and won't hike interest rates before 2023. Peter Schiff, a key proponent of gold, believes that traders are wrong to sell it. The Fed won't be able to cope with inflation in the next few years, and Bitcoin shouldn't be perceived as digital gold.

The comparison of gold to Bitcoin looks dubious: many investment tycoons, such as Jamie Dimon of J.P. Morgan and David Solomon of Goldman Sachs, criticise cryptocurrency while still creating services to invest in and trade it. In early 2021, JPM analysts predicted that Bitcoin would drive out gold as a store of value and assessed its price in the long term at $146,000.



Is Bitcoin really becoming an alternative hedge against inflation instead of gold? Today, the US CPI is being released today: if demand is still above market expectations and Bitcoin keeps growing on this news, the trend will receive another confirmation.

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Re: StormGain is a crypto trading platform for everyone.
« Reply #41 on: August 17, 2021, 12:32:58 PM »
Ethereum will soon abandon mining. Will GPUs get cheaper?

At the World Blockchain Conference in late July, Vitalik Buterin set the beginning of 2022 as the date of a possible transition to a proof-of-stake protocol, when validators will become responsible for processing transactions, and miners will be put out of a job. However, this does not stop either miners or hardware manufacturers.

On 5 August, the London hard fork took place, followed by the Altair update on 19 August. According to the roadmap, these are the last steps before the merger of the two forks, codenamed ‘The Merger’, happens. The difficulty bomb is scheduled for early December but will most likely be rescheduled for Q1 2022.



Over 90% of Ethereum mining is done with GPUs. However, in recent years, a breakthrough was made in producing ASICs for the ETHash algorithm. For instance, in early 2021, NVIDIA presented its first chip for ETH mining, which can hash 26 Mh/s at 125 W. The availability of efficient machines attracted institutional investors, for whom the payback period is less in the Ethereum network than in the Bitcoin network. According to the CEO of Luxor mining centre, Ethan Vera, the ROI period on Ethereum mining hardware is four months, but over a year for Bitcoin.

This circumstance has caused mining companies to increase their hash power despite the PoS risks. In October 2020, Hive Blockchain became the biggest public Ethereum miner at 3.4 Gh/s; it plans to ramp up its hashing power to 5.5 Gh/s by the end of 2021. Hut 8 is close behind, having bought $30 million worth of hardware from NVIDIA, which will give it 1.6 Gh/s more hash power this month.

Miners expect that The Merger implementation period will shift: this regularly happens in Vitalik Buterin’s network. So, they don’t want to miss out on the profit they could make on the second-largest cryptocurrency.



ASIC manufacturers are backing miners in their arms race. Bitmain, Innosilicon and iPollo have already announced the availability of Ethereum ASICs by the end of this year. iPollo has already received pre-orders worth $200 million.

The most frequently asked question among some in the crypto community is ‘when will GPUs get cheaper?’ The risk of proof-of-work being abandoned does not dampen companies’ ardour in their pursuit of hashing power. Gamers’ last hope hangs on the development of ASICs that could push GPUs out of mining. Mining difficulty will grow as long as institutional demand is met, and the GPU mining ROI period will soon surpass one year. If ETH doesn’t reach its all-time high again by that time, miners’ demand for them will substantially decrease.


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Re: StormGain is a crypto trading platform for everyone.
« Reply #42 on: August 18, 2021, 03:24:59 PM »
StormGain debuts new crypto options

StormGain is happy to announce the debut of an exciting new trading instrument on the platform: crypto options! Now, instead of simply being able to trade cryptocurrencies, StormGain users can place Call and Put option orders based on a cryptocurrency’s potential future price. This means you can trade on the price changes of a digital asset without having to actually own or hold the asset itself. Crypto options are perfect if your main interest in cryptocurrency is to profit from price volatility rather than collect digital tokens.

How do crypto options work?

Options, including crypto options, are derivative instruments that trade on the price fluctuations of the underlying asset. They provide traders with the option, but not the requirement, to buy or sell a specified amount of the asset at the price it was trading at when the contract was initiated. Because you’re not required to buy or sell, this opens up a more flexible trading strategy.

There are two types of crypto options you can buy and trade. One of these is Call options, which give you the right to buy the underlying asset at a predetermined price at any time before a specified expiry date. Similarly, Put options give you the right to sell the underlying asset at a predetermined price before the date.

The price of crypto options is called a strike price, which is influenced by the actual price of the underlying asset, the expiry date, the asset’s volatility and demand for the option.

How can crypto options benefit me?

Crypto options are cheaper than buying the coins outright and allow you to benefit from higher volatility, giving you the potential for much higher returns on your investment. For example, even a relatively small movement on the price of Bitcoin will affect the price of the option by much higher multiples. At the same time, should the future price of BTC not go your way, it’s not possible to lose more than your initial investment in buying the strike price.

Options are great for various trading strategies, such as using long calls (for a bullish approach) or puts (when you predict a bear market) to maximise your profits. More cautious investors can even take both kinds of options on the same underlying asset (known as straddling) or hedge by taking a Put option on their holdings, which compensates for an asset’s potential depreciation.

Crypto options open a wealth of more sophisticated trading strategies that let you use your knowledge of the crypto market to make even more profit. For a more detailed breakdown of how to use crypto options, we recommend that you check out this series of educational articles with examples of Call and Put options and hedging strategies.

Where can I find crypto options?

To trade options on any asset, simply open the StormGain app or web platform and open your cryptocurrency of choice. You’ll see an ‘Options’ tab that shows the strike price and expiry date for each one.

With the introduction of crypto options, StormGain offers yet another way to get cryptocurrency to make money for you. That’s in addition to the best rates on a wide variety of cryptocurrency purchases and exchanges, crypto wallets with up to 12% APR interest, indices and tokenised assets. Sign in to StormGain to see what crypto options can do for your trading profit. Not a member? Then register with StormGain in just five seconds to start trading today!

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Re: StormGain is a crypto trading platform for everyone.
« Reply #43 on: August 23, 2021, 09:43:49 AM »
Hermitage and Rammstein at Odds over NFT

Non-fungible tokens (NFTs) are a new type of crypto asset that has simplified buying and selling, exchanging and working with digital artworks' copyrights. This market continues to grow exponentially despite all the difficulties cryptocurrencies have been facing.

In March, we saw a spike in the interest in NFTs caused by the success of Mike Winkleman's picture, Everydays: The First 5,000 Days. It turned out to be the most expensive JPEG file in history, selling for $69 million at a Christie's auction. There was also a rally on the cryptocurrency market, and Ethereum, the platform for most NFTs, rose from $1,400 to $4,400 in May.



Increasing interest in cryptocurrencies and non-fungible tokens has caused a record growth of network fees on the Ethereum network. Sceptics were prophesying a downfall of the NFT market, but that didn't happen. Now, fundraising is at March levels again, and the daily NFT turnover at OpenSea has grown eight-fold.



The daily volume has reached 60,000 NFTs, and the trading volume in the last month grew by 933% to hit $1.2 billion. And that is just the data for a single platform. The entire market is now projected to grow from $1 billion to $15 billion next year. The growing interest in NFTs is leading some to monetise their activities, from football clubs to giants like NASA.

Occasionally, unpleasant copyright-related things happen. For example, DC Comics asked artists in March not to use their characters to make NFTs as the company was planning to enter the new market. Furthermore, last week, a scandal broke out between the group Rammstein's lead vocalist and the Hermitage Museum. Till Lindemann recorded a video for the song Lubimiy Gorod (Beloved City) for the museum. However, according to his agreement with the Hermitage, he could only use the recorded materials in the video. The singer nevertheless launched an NFT collection based on the visuals recorded.



Five tokens have been put up for auction, advertised as 'Hermitage Edition'. The most expensive of them has been priced at $100,000, and there are 10 copies. Buyers will also have the opportunity to dine with Lindemann in Moscow.

The Russian state-owned Hermitage has sent a letter of claim to both the Rammstein frontman and NFT Frame Art, the platform that listed the tokens. However, the museum has not disclosed its proposal for resolving the conflict. Currently, nothing is known about any responses.

Like DC Comics, Hermitage also has plans to monetise art objects. In autumn 2021, an exhibition will take place, where the museum will put its own NFTs up for sale. The Hermitage's director, Mikhail Piotrovsky, has said that "NFT is a route that creates democracy, makes luxury more accessible, but at the same time exceptional and exclusive".

Despite the lack of a clear legal framework, the number of NFT proponents is growing. This will make cryptocurrencies more attractive and speed up their integration in the near future.


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Re: StormGain is a crypto trading platform for everyone.
« Reply #44 on: August 24, 2021, 08:23:34 AM »
NVIDIA: Mining processors vs video cards

Increased GPU prices have caused a backlash between miners and gamers. AMD has come clean, saying that this conflict is none of its business. However, NVIDIA has tried to split up its GPU product line and produce an ASIC equivalent, with little success.

The third-generation graphic cards released in autumn last year are highly efficient at ethereum mining. Meanwhile, the coin rose from $350 in October to $2,000 in five months, and graphic adapters are becoming hard to find.



The first decision NVIDIA made was to limit the output of some graphic cards, but miners managed to bypass this obstacle. The second decision was the production of specialised chips for mining. In February, the company announced the launch of its new CMP (crypto-mining processor) series. The 30HX and 40HX models became available for order in Q1 2021.



However, the demand for these was not as high as NVIDIA expected. The company planned to earn $400M on CMP sales by the end of Q2, but actual income was $266M. Commenting on the figures, Chief Financial Officer Colette Kress said that the company did not expect substantial revenue contribution from CMP sales in the future.

There are several reasons for this product line's failure. First, even top-end machines are lagging behind the top-of-the-line graphic cards in terms of hashing power. Second, the cost and energy efficiency remain pretty much similar. Therefore, few people are willing to buy highly specialised machines with no video output. Let's take compare the effectiveness and ROI of CMP 30HX vs RTX 3060.

The mining chip produces 26 Mh/s, consuming 125 W. The graphic card can be accelerated to up to 48 Mh/s while consuming 170 W. Energy-wise, it's more profitable, but it costs more: $1,000 vs $750. However, because of the permanent increase in mining difficulty, hashing power is what makes the ultimate difference, and even profitability calculators show that RTX 3060 is almost twice as good as CMP 30.



It takes 300 days to reach full ROI on the graphic card, compared to 414 days for the CMP. Because of increased mining difficulty, you will have to unplug 30HX at some point, while RTX 3060 will keep on producing revenue. Another thing is that even if the graphic card is discarded for mining, it can still be used for its intended purpose, but there is no second life for the CMP.

The NVIDIA CPM product line is the same old graphic card, only slightly redesigned and cheaper. However, consumers did not appreciate this approach: as ethereum's price increased, so, too, is the demand for graphic cards.


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