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Home » Interesting » How Does Mining Develop In 2018?

Crypto Space Over The Past Week From 27 Of August To 2 Of September, 2018


At the end of the week, we resume everything that the cryptocommunity talked about over the past seven days. This week  it became known about the plans of CBOE to launch Ethereum futures and the bitcoin hashrate has set a new record.

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The first days of September - it's time to sum up the results of August. The last summer month brought an increase in institutional interest and a gradual recovery of the market, as well as a number of scandals and fraudulent episodes.

Bitcoin hashrate set a new record of growth - plus 35% in two days. The current figure is 62 quintillion hashes per second.

According to Business Insider, CBOE plans to launch Ethereum futures until the end of this year. Exchange will be guided by the market indicators of the Gemini platform. Mining Pool team is starting to mine Ethereum and Ethereum Classic. So the team plans to help the Ethereum network to increase scalability and improve the performance of the entire digital infrastructure. The head of the pool Zhong Zhuang announced that the miners will be able to receive a reward for giving their hash power to the team.


According to Bobby Lee, the co-founder of the oldest Chinese cryptocurrency exchange BTCC, by 2020, bitcoin will break through a mark of $ 60,000. At the moment when bitcoin shows takeoff, the market capitalization of this digital asset will jump to $ 1 trillion.

The head of and the Bitcoin Cash promoter Roger Ver showed his investment portfolio. According to him, there is an unlimited number of ETH, ZCash, ZCoin, Monero, Dash, as well as Bitcoin.

Litecoin creator, Charlie Lee, has not yet planned to buy back coins that he had previously sold. Lee stressed that now you can invest in the purchase of bitcoin, which, in his opinion, will act as a more reliable asset.

According to the cryptocurrency investor and analyst Willy Woo, in 2018 bitcoin entered a new era of development. This is due to the fact that the digital infrastructure is now much more perfect than in 2014. If four years ago bitcoin was in a state of stagnation, now the network of this cryptocurrency is constantly improved, which increases the attractiveness of the digital asset in the global market.

The Chief Information Officer at JPMorgan Chase & Co, Lori Beer, said that in a few years the blockchain company will "replace the existing technology." Beer explained that JPMorgan uses blockchain to "simplify the payment process and store customer information that allows them to verify."

According to Reddit co-founder, Alexis Ohanian, bitcoin has a huge potential as a means of preserving value, especially in countries where the process of devaluation of the currency is taking place. Ohanian suggested that the collapse of economies could contribute to the global spread of cryptocurrencies such as Dash and Bitcoin.

On Tuesday, August 28 Dash cryptocurrency jumped in price by more than 20% due to the increased demand from Venezuelan traders. Also, the Coin Dance data show that the bitcoin/bolivar has reached unprecedented levels of trading.

John McAfee believes that this year has been beneficial for bitcoin in terms of its distribution and use. The bear market that this currency is experiencing is just a temporary phase, indicating that a bull market may soon come to replace.


Bitcoin in 2018 bypassed PayPal for the cost of transactions with an indicator of $ 1.3 trillion. Bitcoin has all chances to overtake Visa, given the cost of last year's transactions of almost $ 9 trillion. Unlike PayPal and bitcoin, which are often used for p2p payments, Visa specializes in processing payments for consumer purchases.

The issue of 500 million Tether tokens could not affect the cryptomarket. To this conclusion came the experts of the University of Texas.

The data of Google Trends show that investor interest in bitcoin prices has significantly decreased.

According to Satis Group research, bitcoin value can reach $ 96,000 in the next five years. But the cryptocurrencies, which are more or less centralized, will be of little value. For example, Ripple (XRP) will drop to $ 0.01.

Japanese developer of software for cyber security Trend Micro released a report, which reports a growth of secret mining by 956% since the beginning of 2017. In the first six months of 2018 there were more than 787,000 episodes of illegal mining, known as cryptojacking, whereas in the same period of 2017 only 74,500 such cases were identified.

The survey, published by the analytical company Harris Insights in early August, showed that about 8% of adult Americans have already invested in cryptocurrencies. The study was carried out in conjunction with the cryptocurrency exchange Gem application in June 2018. It was attended by 2000 people, and more than 40% of them said that nothing will force them to invest in digital currencies.

The popularity of bitcoin among students in the US is growing, as indicated by a joint survey of Coinbase and Qriously. 18% of American students said they own (or owned) bitcoin or other cryptocurrencies, and this figure is two times higher than that of the rest of the population.


The line of ASIC-miners from Bitmain has enlarged with an interesting product, although at present it is offered only on the Chinese company website, not in the English version. Antminer S9 Hydro is a water-cooled miner, presumably providing a 18 TH/s hash for mining bitcoins at a consumption of 1728 watts.

The Slovenian cloudmining service Nicehash announced the return to affected users of up to 60% of the stolen bitcoins. The platform returned approximately 4,700 coins, which were stolen as a result of a hacker attack late last year.

AMD plans to present the first video card of the new generation by the end of 2018, which will have a higher performance. And in 2019 a new processor will be presented in the framework of the ZEN 2 project aimed at increasing the computing power of giant products.

Specialists of the Korean Development Bank (KDB) released a report, from which it follows that North Korea is engaged in cryptocurrency mining. Experts of the South Korean state bank write that North Korea could "try to beat the bitcoins in May-July last year, but without much success." The DPRK appears to be interested in understanding the characteristics of the cryptocurrency, including "anonymity, the difficulty of tracking and the possibility of cashing out."


The Indian central bank secretly formed a department for work with the blockchain and AI, and the issue of birth certificates in the country will be on blockchain.

The Russian Pension Fund plans to use a blockchain-based platform to post information about employment contracts between employees and employers.

On the Green Continent, the Australian National Block (ANB), a platform designed to help local companies exchange data and confirm the authenticity and status of legal contracts through smart contracts.

The Maltese Information Technology Agency (MITA) and the University of Malta announced the creation of a fund for the study of blockchain technology in the amount of 300,000 euros. From it scholarships will be paid to prospective students.

IBM has launched a high-performance platform for cross-border financial transactions based on the Stellar blockchain. A network called World Wire will be used by almost any financial institution.


The Indian authorities continue to hint at the possibility of legalizing cryptocurrency trading in the country. Earlier this week, local media referring to a source in the Reserve Bank of India reported that the regulator had formed a special commission that would study the potential of the blockchain and options for trading virtual currencies.

The Iranian authorities have completed work on a bill on the creation of state cryptocurrency. The President of the Republic, Hasan Ruhani, earlier ordered that this document be developed as soon as possible in order to use digital money to bypass American sanctions.

The National Internet Finance Association of China (NIFA), founded by the People's Bank of China (PBoC) self-regulatory organization, added to its website the "Sale of Tokens" item. Thus, now the public can report to the supervisory authority on a new kind of "illegal financial activity".

The Canadian authorities postponed the adoption of the law on the blockchain industry. Officials announced that the development of the document will be continued only at the end of next year. For the first time, the need to regulate relations in the cryptosphere, including the blockchain industry, in Canada began talking in 2014. At the same time, it was announced that regulators would develop a set of measures to control cryptocurrency transactions.

American regulators engaged in the study of three ICO projects, which offer investors to invest their money in tokens. The investigation is carried out by representatives of the Department of State of Colorado and the target group for the primary placement of cryptocurrency.

The National Police of Japan will introduce a system for tracking the flow of cryptocurrency transactions to facilitate the investigation of digital-related crimes.

Other events

Italian football club "Rimini", performing in Serie C, will be the first team in history, bought for cryptocurrency. The club is acquired by Quantocoin.

Private British auction house Bonhams, one of the oldest and largest in the world auction houses, specializing in fine arts, antiques and luxury collector cars, intends to accept payments in crypto-currencies. This year, buyers for the first time will have the opportunity to purchase super-expensive "Lamborghini", "Ferrari", "Bentley" and other luxury cars with six-digit price tags for cryptocurrencies.

The famous comic Bill Cosby invested savings in bitcoins to hide them from creditors and his own wife. This was reported by Radar Online, noting that 81-year-old Kosby was previously found guilty in three counts in the rape case.

It became known that the owner of Silk Road wallet in the last few days was engaged in the transfer of funds. He used the mechanism of the trunks, dividing the amount into groups of 100 coins. Initially, this purse contained bitcoins and Bitcoin Cash for $ 844 million (excluding other forkoin forks).

Information portal for cryptocurrency investors ICO Bazaar plans in the near future to launch a platform for finding work in the cryptosphere. The service is scheduled to start on the end of August.

Cryptocurrency Dogecoin on August 31 went up by 25%, to $ 0.003. The market capitalization of the digital asset rose to $ 429.9 million, and the volume of daily trading reached $ 42.37 million. On Thursday and Friday, Dogecoin went up by more than 50%. Experts attribute the current growth of the coin rate to the upcoming launch of Dogethereum.

Yahoo Finance added bitcoin (BTC), ethereum (ETH) and litecoin (LTC) to its platform. Although the platform has statistics for other digital currencies, such as Bitcoin Cash (BCH), Ethereum Classic (ETC) or EOS, while there are no options for buying and selling them.

The online payment platform BitPay announced the launch of transactions on mutual settlements between sellers in the Bitcoin Cash cryptocurrency.