Intel: Green light for Bitcoin mining patent

Chip giant Intel received a patent for energy-efficient Bitcoin mining on 27 November. According to the company, this will reduce electricity costs and the size of the chips by up to 15 percent.

After Intel had already filed an application for a patent to optimize Bitcoin mining in March of this year, the company can now claim another success for itself. On November 27, the United States Patent and Trademark Office gave the chip manufacturer the go-ahead for a patent application filed in 2016. The patent details show how mining can be made more energy-efficient.

Increased efficiency by fixing cryptosoft parameters

The mining process is one of the pillars that gives Bitcoin its decentralised character and ensures consensus within the cryptosoft network. The miners solve a puzzle in a CPU-intensive process in which the SHA-256 hash of an input value must be smaller than a certain target value. ASICs, dedicated Bitcoin Mining hardware, are able to perform a large number of these hashing operations in parallel.

The patent-pending execution forms now divide the ASIC hashing process into several stages. This saves checking the hashes after each increase of the „nonce“. In this way, miners should be able to determine earlier whether an input value is suitable for the solution. According to Intel, this has the advantage that power consumption and chip size can be reduced by an estimated 15 percent.

The miners have reason to be happy

Developments such as these are particularly welcome in times when Bitcoin’s share price is comparatively low. A low price exerts great pressure on the miners as they can no longer mine profitably. According to an estimate by Mao Shixing, the operator of the Chinese mining pool F2Pool, 600,000 to 800,000 miners have ceased mining since mid-November alone.

This is understandable if one considers the estimates of real mining costs from the recently published report by CoinShares Research. According to this, the costs for mining from a Bitcoin are around 6,000 euros, based on electricity costs of 5 cents per KWh and a hardware lifetime of 18 months. This means that mining is currently only profitable under very specific conditions, such as even lower electricity prices. It is therefore to be welcomed that further chip manufacturers are entering the market and that the market for mining hardware is no longer in the hands of a few players.

Binance: Bitcoin exchange prepares for the news spy

Binance offers a new feature. With the possibility of opening several sub-accounts, the Bitcoin exchange wants to prepare itself for the long-awaited institutional investors. Will this then attract the cops?

Institutional investors are traded as the news spy in the Bitcoin community

Whether Bitcoin Futures or even Bitcoin ETF – the „Big Players“ should finally flush the news spy of the big money into the coffers, so that the news spy should rise again. Even if the technical analyses currently speak another language, the players from the industry are preparing themselves confidently for the big coal still (or again?) coming into the crypto market.

Only on 5 December did we report, for example, that Xolaris was offering the possibility of investing in crypto currencies through a private equity fund. Minimum investment: 250,000 euros, maximum issue volume: 30 million euros. At the current exchange rates, it’s not yet worth investing, according to the founding team. But that will change soon. It smells a bit like Bulle.

Binance counts on institutional Bitcoin investors

Binance is now beating into a very similar presche. The Bitcoin exchange announced in a blog post on 6 December that it was introducing its „long-awaited“ sub-account feature. This means that in future it will be possible to manage up to 200 subaccounts under one master account. In addition, better tracking of activities is possible; data such as login history, order management or asset management can now be better monitored.

What’s special: The sub-account feature is only available for users with VIP level 3 and for corporate customers. This prepares Binance for institutional investors. To this end, Wei Zhou opposite the Block:

„We see an increase in institutional accounts in the [crypto] space and expect institutional demand to pick up significantly in the coming months. One of our priorities is to provide a platform that serves the needs of these clients as well as our private clients.“

It remains to be seen whether the cops will finally dare to leave the door again. Nevertheless: Despite all the bear smell one means to feel a bullish breeze.

Despite bear market: Bitcoin loophole records monthly increase of 50 percent

Waves was able to record a good 50 percent price increase in the last month. This coincided with the announcement of a software update. Nevertheless, there was a setback in the last 24 hours.

Waves was launched in spring 2016 and collected a total of $16 million during the ICO. While many projects disappeared after the ICO hype in 2017, Waves was sometimes able to hold its ground bravely – despite the bear market.

Waves currently ranks 29th among the crypto currencies with the highest market capitalization – with a supply of 100 million WAVES at a current rate of 1.80 US dollars. Especially last month, the token performed exceptionally well, with the overall price rising by 50 percent.

New features for the Bitcoin loophole

In terms of time, the increase coincided mainly with the announcement of a Bitcoin loophole update. To this end, the Bitcoin loophole company announced on December 3 that the mobile app now offers a number of new features. The Waves app now promises a mobile app that includes a wallet for crypto currencies, Waves DEX support and a Fiat interface. Furthermore, all payment transactions on the app are encrypted. The app now also offers the possibility to be warned about suspicious tokens and potential scams.

According to the Waves team, it wants to conquer the market for mobile crypto users. The company estimates that there are 207 million customers in the US and over a billion people in China to reach.

Waves course receptive to announcements

The fact that the Waves share price is quite receptive to announcements has already become apparent in the past. With the news that Smart Contracts could be integrated into the existing system in the future, the Waves token was already out 30 percent in September.

But not – as is currently the case – without immediate correction: Within the last 24 hours, the Waves course then ebbed again by almost ten percent. So it’s well worth it for waves traders to wait for further announcements.

SAP and Bitcoin secret – the beginning of a wonderful friendship

It is well known that Blockchain is not only for hip startups. Not only R3CEV, but also VISA, banks or Microsoft are interested in the Blockchain and try there innovations to advance.

SAP, the largest provider of enterprise software, is naturally also interested in the Bitcoin secret

Among other things, the ERP market leader is interested in the Bitcoin secret to which blockchain technology can contribute to innovation in the corporate environment. BTC-Echo reported briefly on the Bitcoin secret.

Raimund Gross is part of the SAP Innovation Center Network. In a telephone call he was available to BTC-ECHO for some questions. The goal of the SAP Innovation Center Network with 17 locations is to evaluate new trends and technologies and to drive innovation forward.

The Innovation Centers work closely with the various business units to identify optimization potential and stimulate new developments. This makes them a large research and development department at SAP. In this context, SAP has also addressed the topic of block chains. In this interview we would like to take a closer look at the liaison between SAP and Blockchain.

Dear Mr. Gross, first of all thank you very much for taking the time for this interview. How did the Blockchain get on the radar of SAP?

The Blockchain has been watched with great interest by SAP since the end of 2014

Our starting point was initially Financial Services (banks and insurance companies), because Blockchain is already very relevant for our customers in this environment. In further steps, we then stretched the framework and also examined use cases and scenarios in other industries and business areas. For example, in the areas of supply chain management, the energy industry, healthcare and the public sector.

Ethereum (ETH) – Course Analysis KW20 – Does the Handle Hold?

As with all other crypto currencies, the Ethereum rate fell last week. On May 12th it fell to 535 Euros, returning to the end of April level. Since then, the course has recovered somewhat and entered a triangle pattern. The Cup-and-Handle Pattern still holds accordingly.

The Ethereum price fell this week for the crypto trader

After the crypto trader price fell back to the level of the end of April and thus to the bottom of the forecasted handle, the price entered a triangle pattern like this

Overall, the assessment is bearish. The most important support is 533.95 euros, the first resistance is 616.22 euros.

Last week it was advised not to open a long position until the price either bounced at a support or breached the resistance. So if you haven’t taken a long position, you’ll be quite lucky; there was really no money to be made from the neutral outlook at the time.

In the meantime the course has even bounced off a support. Since then it has been moving sideways in a triangle pattern. With last week’s negative price development, the hypothesis of a cup-and-handle pattern can in principle be maintained:

So a little of the above mentioned support is decisive. The indicators on the 4-hour chart are a cause for concern:

The MACD (second panel from above) is negative and bearish. The MACD line (blue) is below the signal (orange), the latter is about to fall below the zero line.

The RSI is at 44 and thus bearish. Overall, the price, trend and indicators are bearish according to the situation.

Support and Resistance

The first support is 533,95 Euro and is described by the minimum of May 12th. The further support is defined by the plateau from 21 to 22 April at 493.03 euros.

As first Resistance the plateau offers itself from 14. May to 15. May with 616.22 euro. A rise of the price above this level would lift the price in the direction of higher prices from the triangle pattern. A further resistance is at the height of the monthly maximum at about 680.00 Euros.

Entry Points, Stop Losses and Targets
The bearish assessment invites to a short position. A good entry point would be 572.87 Euro, i.e. in case of a negative breakthrough of the triangle pattern, targets would be at the indicated supports and for a stop loss the first resistance would be 616.22 Euro.

If the price bounces off the support of the triangle pattern, opening a long position at 616.22 Euros would be the best option. A meaningful target would be the second resistance at 680.00 Euro and a meaningful stop loss would be defined by the EMA50 at about 600 Euro.

Coinbase and Deloitte analyze blockchain and crypto currencies

A recent survey by the Coinbase crypto exchange examines the significance of blockchain and crypto currencies at US universities, among other things. Meanwhile, the auditing firm Deloitte is investigating the role of technology for companies. A regular comparison.

The crypto community regularly benefits from current studies and surveys on blockchain adaptation and crypto usage. The clients come from all kinds of industries, such as politics, the private sector or the cryptoscene itself. Two current studies of the crypto stock exchange Coinbase and the auditing company Deloitte ask educational institutions and enterprises about Blockchain topics.

Coinbase: Blockchain is part of the Bitcoin news trader in elite universities

Together with Qriously, Coinbase is investigating the role of blockchain and crypto scam proven by onlinebetrug in universities around the world. The study included 675 students from 50 of the world’s most renowned universities. At 21 of these 50 universities, students are offered at least one course on blockchain and crypto currencies. This corresponds to a Bitcoin news trader crypto quota of 42 percent. These courses are spread over various institutes and chairs, which suggests that different aspects of crypto economics are taken into account in teaching.

Stanford University occupies the top position among the crypto-affine universities, offering a total of ten courses on various aspects of cryptology. This is immediately followed by New York’s Cornell University with a total of nine crypto courses. All the other educational institutions surveyed lag far behind.

The survey also highlights the use of crypto by US students. Nine percent of respondents in the USA stated that they had taken part in a crypto course. In addition, 18 percent of the students have crypto currencies, a total of 26 percent expressed the wish to learn more about crypto currencies and to participate in such a course. This high number of interested people should also please decision-makers in the private sector.

Deloitte: 84 percent of companies believe in mainstream adaptation

The Deloitte survey is much broader than that of Coinbase. A total of 1,053 companies from Germany, France, Great Britain, China, Canada, Mexico and the USA were surveyed. 132 companies from Germany took part. In addition, the focus here was less on the dissemination of crypto knowledge, but rather on the active use of the blockchain by companies. The aim of the study was to find out when and how the blockchain will assert itself as an instrument in the free economy.

A total of 84 percent of the leading minds in the companies surveyed believe that blockchain applications will establish themselves in the mainstream. Until this happens, it is only a question of time. Use cases are mainly seen in the areas of supply chain management (53 percent), IoT (51 percent) and digital identity (50 percent).

The obstacles to blockchain adaptation were mentioned by most (39 percent) of the respondents as regulation, the replacement of existing structures (37 percent) and security concerns (35 percent). Most people see the biggest advantage of the blockchain in the higher speed that the technology allows (32 percent), followed by higher security (21 percent) and lower costs. 34 percent of the surveyed companies place the blockchain in the top 5 priorities of their future strategy, another 29 percent see it as a high priority, but it is not included in the top 5.

Chinese central bank: no signs of easing

The Chinese central bank has announced its agenda for the coming year. It continues to focus on the regulation of crypto currencies. Their markets must be corrected, according to the letter of Thursday. With it the authority disappoints hopes of a course change. In the middle of the month, these were blazed up with the appointment of the new central bank chief Yi Gang in the course of the personnel carousel in Beijing’s executive apparatus.

Nothing new (for the time being) in the East

On Thursday the People’s Bank of China, the central bank of the Middle Kingdom, announced the agenda for the current year 2018. In it, the authority mentions crypto currencies in the same breath with immediate dangers for the financial stability of the yuan. It is therefore important to continue to counter their markets with appropriate measures.

„One of our goals continues to be strict quality control of the yuan […] through corrective measures for various crypto currencies,

central bank vice-president Fan Yifei announces the new, old direction of the PBoC. While the concrete remains in the dark, the innovative possibilities of a centrally regulated digital currency will continue to be considered, according to Fan.

No change of course for the time being

The PBoC thus disappoints hopes of an imminent price change. In the middle of the month, the PBoC’s hopes of an imminent price change became loud with the appointment of Yi Gang as the new head of the central bank. After long-time PBoC Governor Zhou Xiaochuan warned of Bitcoin’s speculative risks only in March, Yi appeared to be a possible glimmer of hope for the global market. He had reportedly called the Bitcoin „unique“ and „inspiring“ in recent years. There had already been speculation that the strong Chinese headwind might ease.

Last year the government had set a strict course and put on hard bandages against the domestic crypto markets: Last September, Beijing surprisingly called on crypto exchanges to shut down their operations. In addition, ICOs were banned from Chinese territory.

This year, too, there has been no relaxation so far. Only last month, for example, the Chinese Ministry of Public Security announced that it would extend its monitoring to international crypto exchanges in order to be able to monitor the transactions of Chinese citizens.

Governments worldwide: crime the real problem
From an international point of view, China is one of the first countries that are decisive for the international financial sector to regard crypto currencies as a threat to financial stability. In this part of the world, the European Central Bank (ECB), for example, is insisting on a wait-and-see approach. The tenor from Frankfurt: crypto currencies are still far from endangering the euro. American colleagues are currently of a similar opinion.

While more and more governments and central banks around the world are turning to possible control mechanisms, these days a different reputation is echoing through the high government houses. Instead of worries about financial stability, legislators around the world are currently looking at the criminal potential for using crypto currencies. For example, coordinated efforts were already on the agenda at the first G20 meeting of finance ministers and central bankers this month. The result: by 2020, common tax standards should steer the trade in crypto currencies in an orderly fashion. The focus here too: Money laundering and tax evasion instead of financial danger.

The actual market capitalisation of all crypto currencies is currently 214 billion euros. Compared to global financial traffic, however, this is still small and disappears. An actual impairment of the financial market therefore seems doubtful, at least from the perspective of the figures.