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Report: Bitcoin Mining Benefits Global Economy is Not Detrimental to Environment

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Report: Bitcoin Mining Benefits Global Economy, is Not Detrimental to Environment

Report: Bitcoin Mining Benefits Global Economy, is Not Detrimental to Environment

A new study by Coinshares has revealed that about 78 percent of Bitcoin miners use renewable energy when operating their mining businesses, while China has taken steps to prevent wastage of surplus electricity. Contrary to the mainstream media demonising Bitcoin mining operations as environmentally degrading, the UK-based digital asset management company argues that nost mining operations buy electricity as a “last resort”.

China has taken some major leaps in terms of generating clean energy, with the government pouring billions of dollars into solar, wind and hydroelectric power. With almost 60% of the world’s bitcoin mining operation happening in China itself, the clean power move has resulted in an excess of that energy being used, the report noted.

Situations are similar in the Pacific Northwest, with renewable energy dominating mining operations all across British Columbia, Washington and Oregon. Scandinavia, whose mines generate almost 35% of the global Bitcoin share is also seeing an upsurge in the use of renewable energy.

China’s large-scale investments have caused stress on the electricity grids, resulting in grid operators to refuse to accept surplus renewable energy capacity, in a move termed as ‘curtailing’. According to the report, most of the Chinese miners are using this curtailed electricity instead of letting it go to waste.

The report noted that large sections of these mining operations were using renewables. For example, China’s Sichuan province which is home to a big chunk of the country’s mining operation is using almost 90 percent of its energy from renewable sources.

Researchers from the University of Hawaii looked at how Bitcoin mining contributed to the world’s carbon emissions as compared to other conventional forms of technology that are used in our daily lives. But it turned out to be a difficult task to quantify its carbon footprint due to its computationally demanding process and the use of multiple, expensive pieces of technology.

The report reveals that 77.6 per cent of the world’s cryptocurrency miners use renewable sources of energy such as hydro power, making it “greener than almost every other large-scale industry in the world.” The researchers also noted that miners were environmentally conscious themselves, with cooler mining regions of Northern China saving up electricity on cooling systems for the mining hardware.

The report concluded by stating that although the miners were self-serving in that they simply looked for the most cost-effective sources of energy to mine cryptocurrency, they inadvertently also made the majority of the industry more environment-friendly than most other industries.

 

By Debarun Gupta

Alan Zibluk Markethive Founding Member

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Bitcoin bulls ask where’s the bottom?

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Bitcoin bulls ask, where's the bottom?

Bitcoin bulls ask, where's the bottom?

  • Bitcoin lost 37 pct in the month of Nov.

  • The bottom not yet in sight as bulls scramble for stability.

Bitcoin, the largest cryptocurrency by market capitalisation and the coin that gave blockchain to the world, has lost 37 percent of its value in the month of November, has still not been able to find a stable bottom, as the prices fell back again after rallying back above $4,000 during the week.

BTC/USD is down nearly one percent on day at $3,942, but trading in less than 0.3 percent range for the day, thanks to lower volumes and resulting in lower volatility for the crypto whose second cousin is volatility.

A quick look at various time-frames of the chart reveals us that although volatility has come down a but after November sell-off, by no means a long term meaninful bottom has been placed yet. BTC may well touch and even break recent lows and head towards $3,000 as mentioned last week. (Read here) Even as experts such as Morgan Creek Capital Management's CEO, Mark Yusko, believe that there is long term value for the largest coin and bottom should be somewhere around the corner.

BTC/USD daily chart:

Manoj B Rawal

FXStreet

 

Alan Zibluk Markethive Founding Member

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Bitcoin volatility fading away -where from here?

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Bitcoin volatility fading away -where from here?

Bitcoin volatility fading away -where from here?

  • BTC/USD is hovering around $4,300.

  • Mati Greenspan says volatility is good for Bitcoin's popularity.

Bitcoin is hovering around $4,300 handle, locked in a narrow range with the upper border at $4,400. The first digital coin has calmed down after a volatile week as the market players seek to understand what comes next.

According to Mati Greenspan, a senior market analyst at eToro, volatility growth brought the discussion of crypto mass adoption issues to the forefront.

“Certainly, it would be better for the use case of cryptocurrencies if they remained more stable, or to see a slow but steady increase in prices. But let’s be straight, would bitcoin be as popular as it is today if not for the wild volatility?” he commented.

Mr. Greenspan believes that the bull run of 2017 brought a vast amount of new users to the crypto universe.

“The outrageous bull run of 2017 has been largely responsible for bringing an unprecedented number of new users into the network but it seems that excitement can be generated on the way down as well.”

Bitcoin's technical picture

From the short-term point of view, BTC/USD is supported by SMA50 (1-hour) at $4,166. Once this level is cleared, the downside may be extended towards critical $4,000 with SMA200 (1-hour) on approach. A sustainable move under $4,000 with expose $3,900-$3,870 area

On the upside, the nearest resistance lies with congestion zone $4,500, which needs to be cleared before we can proceed to the next psychological hurdle $5,000.

BTC/USD, 1-hour chart

 

Tanya Abrosimova

FXStreet

Alan Zibluk Markethive Founding Member

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Never Talk to Strangers?

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God wants us to share His good news with everyone

Written by Gary Schneider on 27/11/2018

Series: Weekly Devotional

Tags: Evangelism, Gospel, Jesus

And he had to pass through Samaria. So he came to a town of Samaria called Sychar, near the field that Jacob had given to his son Joseph. Jacob's well was there; so Jesus, wearied as he was from his journey, was sitting beside the well. It was about the sixth hour. A woman from Samaria came to draw water. Jesus said to her, “Give me a drink.” (For his disciples had gone away into the city to buy food.) The Samaritan woman said to him, “How is it that you, a Jew, ask for a drink from me, a woman of Samaria?” (For Jews have no dealings with Samaritans.) Jesus answered her, “If you knew the gift of God, and who it is that is saying to you, ‘Give me a drink,’ you would have asked him, and he would have given you living water."

John 4:4-10

Though most of our personal evangelism probably happens in the context of some kind of relationship (friend, family member, coworker, neighbor, classmate, teammate, etc.) there are countless opportunities we have throughout our lives to engage complete strangers with the Good News, just like Jesus did with the Samaritan woman in John 4.

To miss those opportunities is to miss the hand of God in our everyday lives. I believe that He is constantly orchestrating moments where intentional Gospel conversations can take place.

The gospel has power

After the woman at the well went back to town to proclaim her newfound faith in Christ, He told his astounded disciples (a rabbi would never talk to a woman in this culture, let alone a Samaritan woman like Jesus did) this: “You know the saying, ‘Four months between planting and harvest.’ But I say, wake up and look around. The fields are already ripe for harvest” (John 4:35). In the same way we must wake up and look around to see the ripe harvest field around us every day… at the restaurant we frequent, in the grocery store we shop at, at the gym we work out in.

One of the biggest blessings this brings is a reminder of the power of the Gospel. Romans 1:16 tells us, “I am not ashamed of the Gospel, for it is the power of God for salvation to everyone who believes.”

There’s something inherently powerful about the message of Jesus, so much so that most of the evangelism you read about in the New Testament centers around Jesus and the disciples reaching complete strangers with the Good News. These are people they bumped into along the way. They were fishermen, tax collectors, everyday Harrys and Sherrys who needed that message of hope.

Those kinds of people are all around us today. In this high-stress, low-hope culture, people need the Gospel message now more than ever.

I know that we’re called to make disciples (not just converts) and I’m convinced that disciples can best be made in the context of a relationship, so I believe that a huge part of our evangelistic efforts should center around people we know and are getting to know. Because once they come to Christ we can help them grow in Christ so they can make more disciples.

A story of a changed heart

Several years ago I lived in northern Quebec, Canada for the purpose of learning the French language. During the very early stages of that difficult task, I met a fellow student named Raul who came from Colombia to learn French. God distinctly nudged me to share the Gospel with Raul. Over breakfast one day, I struggled and strained to share the basic truths of the Gospel with Raul. We had a very limited number of French words in common to communicate with as his native language was Spanish. With the help of a napkin, a pen, and the Holy Spirit, I could tell Raul was understanding the message.  My very first prayer ever in French was to lead Raul to Christ. After the prayer he reached into his wallet as if to pay me for the prayer.  I said, “no, no it’s not like that.” He was actually pulling a picture of Jesus out of his wallet.  He then said that all his life he has wanted to know the Jesus in his wallet. Now, Raul said, “this Jesus is not just in my wallet, now He’s in my heart.”

I would have totally missed that opportunity if only shared the Gospel with those I have a relationship with. The only reason I shared the message is because God put him on my heart.  Even with very limited vocabulary and ability to communicate, the Holy Spirit made the message understandable and Raul’s life was changed. We met every week for a year after that breakfast and he became a great friend and a reproducing disciple of Christ back in Colombia.

Let’s share Jesus with those we know. Let’s invest in them and introduce them to the Lord. But let’s lift up our eyes and look around at the harvest all around us all the time.  Divine appointments are waiting for YOU!

Pray this week:

Lord, forgive me for the opportunities I haven’t taken advantage of to share the good news of your Gospel with those I come in contact with. I pray that you will give me more of these opportunities, and that you’ll give me the correct words to say to share your love with those around me. Amen.

Why do you think you don’t share the gospel with those around you – even if they are your friends? What should you do to feel more comfortable sharing the good news with others?

Alan Zibluk Markethive Founding Member

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Bitcoin Prices Soar -Nasdaq to Launch Bitcoin Futures in Q1 2019

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Bitcoin Prices Soar -Nasdaq to Launch Bitcoin Futures in Q1 2019

Bitcoin Prices Soar -Nasdaq to Launch Bitcoin Futures in Q1 2019

Investing.com – Bitcoin and other major digital coins’ prices all traded higher on Thursday in Asia on news that Nasdaq is set to introduce Bitcoin futures in the first quarter of next year. ?

Bitcoin jumped 6.55% to $4,187.5 by 09:31 PM ET (02:31?GMT) on the?Investing.com index.?Ethereum added 4.49% to $118.77 and XRP gained 2.48% to $0.37633?on the?Poloniex?exchange.???

1337/LTC?also advanced?8.68% to $33.550?on the?Bitifinex?exchange.?

Bitcoin regained a bit of momentum following a second low this week. The most traded digital coin dropped below $3,800 in mid-week before bouncing to this week’s peak at $4,395 on early Thursday morning.

However, Bitcoin remains trading 30% less of its value since mid-November, when the digital coin dropped from above $6,500.

On Thursday, media reported that Nasdaq is set to launch bitcoin futures in the first quarter of 2019 despite the current bearish sentiment for cryptocurrencies.

Bitcoin futures will provide investors with a centralized marketplace where participants can speculate on the future price movements of Bitcoin.

Nasdaq has reportedly been working closely with the Commodities Futures Trading Commission (CFTC) to secure regulatory approval for its proposed Bitcoin futures launch together with investment management firm VanEck.

Gabor Gurbacs, VanEck's director of digital asset strategy, said the firm "ran a few extra miles working with the CFTC to bring about new standards for custody and surveillance."

Nasdaq is not the first one to enter the digital currency space. The CFTC has so far approved two crypto futures products. One is from the Chicago Board Options Exchange and another from the Chicago Mercantile Exchange.

Nasdaq showed interest in tapping into the crpyto space earlier. In April, its CEO Adena Friedman told media that “certainly Nasdaq would consider becoming a crypto exchange over time.”

 

Alan Zibluk Markethive Founding Member

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Bitcoin BTC Bulls Are Back in the Game

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Bitcoin (BTC) Bulls Are Back in the Game!

Bitcoin could be due for a reversal from its slide as it just broke past the top of a descending channel.

Bitcoin was previously trending lower inside a descending channel but has just broken past the resistance to indicate that a reversal is due. Price has also closed above the 100 SMA dynamic inflection point as an additional bullish signal.

However, the 100 SMA is still below the longer-term 200 SMA to indicate that the path of least resistance is to the downside. In other words, the downtrend is more likely to resume than to reverse. Price has yet to test the 200 SMA dynamic inflection point which might also lead to some bearish pressure.

RSI has also reached the overbought zone to indicate that buyers are starting to feel exhausted. Similarly stochastic is in the overbought area to signal that buyers might want to take a break. Turning lower could confirm that sellers are about to take over, possibly pushing bitcoin back inside the channel and onto the lows.

Still, it’s also worth pointing out that both oscillators are pointing up for now and have yet to show any inclination to head south. This suggests that bulls could keep charging.

Also, bitcoin is forming a double bottom pattern with the latest move and could be due to test the neckline at $4,200. A break beyond this could spur a rally that’s the same height as the chart pattern, which is around $400. Increased bullish momentum could lead to technical breaks of the next areas of interest, that might draw even more buyers in.

Indications that institutions are pushing ahead with crypto investments despite the recent bear market are making it to the newswires. Confirmation from a few key figures in the industry also led to the improvement in sentiment that is likely driving the recent moves.

 

Rachel Lee by Rachel Lee November 28, 2018

Bitcoin (BTC) Bulls Are Back in the Game!

Alan Zibluk Markethive Founding Member

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What is True Worship According to the Bible?

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Worshiping both in Spirit and Truth

Written by Dan Lee on 23/08/2016
Series: Weekly Devotional
Tags: God, Singing, Worship
The hour is coming, and is now here, when the true worshipers will worship the Father in spirit and truth, for the Father is seeking such people to worship him. God is spirit, and those who worship him must worship in spirit and truth.

John 4:23-24
In John 4:23-24, Jesus spoke about worship with the Samaritan woman. Let’s try to understand what true worship is according to the Bible, and how you can apply it to your own relationship with God:

1. True worship requires our spirit.
“. . . true worshipers will worship the Father in spirit . . .” Does this mean our spirit, or God’s Holy Spirit? Actually, it’s both! Worship is meant to include our whole self. This is why the Lord commanded Israel in Deuteronomy 6:5, “You shall love the LORD your God with all your heart and with all your soul and with all your might.” Both publicly and privately, we must not just go through the motions of worship, but be fully involved with our heart and soul – our inner selves.

2. True worship requires to worship in the Holy Spirit.
Ephesians 5:19-20 tells us, “And do not get drunk with wine, for that is debauchery, but be filled with the Spirit, addressing one another in psalms and hymns and spiritual songs, singing and making melody to the Lord with your heart.” When we are filled with God’s Spirit, a natural result is heartfelt worship – singing to God, and talking about Him to others.

3. We need to worship in Truth.
What is the truth? A better question is, who is the truth? The answer is Jesus: “Jesus told him, ‘I am the way, the truth, and the life. No one can come to the Father except through me.’” (John 14:6)

Jesus also said, “And you will know the truth, and the truth will set you free.” (John 8:32). The more we know Jesus, who is the truth, the more we will be able to worship in truth. We get to know Jesus through prayer (we talk to Him) and His word (He speaks to us).

When you worship God in a church or anywhere else, ask the Lord to help you “Think about the things of heaven, not the things of earth” (Colossians 3:2). He will help you to worship him with your whole heart, and not just go through the motions. The Lord will be glorified, and your faith will grow, and others will hear about Him.

Pray this week:
Father, Please help me understand how to worship You in spirit and in truth.

Do you need more help understanding worship?

Alan Zibluk Markethive Founding Member

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Bitcoin BTC Daily Price Forecast November 27

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Bitcoin (BTC) Daily Price Forecast – November 27

Bitcoin (BTC) Daily Price Forecast – November 27

BTC/USD Medium-term Trend: Bearish

Resistance Levels: $6,800, $6,900, $7,000

Support levels: $3,600, $3,400, $3,200

Yesterday, November 26, the price of Bitcoin was in a bearish trend. On November 25, the digital currency fell to the low of $3,774.80 and made a bullish movement to the 12-day EMA. On November 26, the crypto’s price was resisted at the 12-day EMA and it fell to the low of $3835. Price is likely to make another bullish movement to the 12-day EMA.

However, for the digital currency to resume its uptrend the crypto must break the 12-day EMA and the 26-day EMA to the upside and remain above it. Meanwhile, the crypto's price is below the 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.

On the 1-hour chart, the price of Bitcoin was in a sideways trend. On November 25, the crypto's price broke the 12-day EMA and the 26-day EMA to the upside and remain above it. On November 26, the crypto ‘s price broke the EMAs to the downside which led to the continuation of the bearish trend.

Courtesy of  BitcoinExchangeGuide.com

Alan Zibluk Markethive Founding Member

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What is Worship?

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It's Not About Us

Written by Jim Denison on 15/11/2015

Series: Weekly Devotional

Tags: Glory, Praise, Purity, Purpose

 

“Love the Lord your God with all your heart and with all your soul and with all your mind and with all your strength.” Mark 12:30

 

This verse describes true worship. Do you worship your Maker? We need to know what worship is, what it isn't, and why it matters so much to our God and to our souls.

What Worship Is

God defines worship as "love": "Love the Lord your God." Love is a verb, an action word. It requires doing, not just attending church, listening to a sermon, singing hymns, or giving money. You've only worshipped when you've loved, adored, and honored. And it is about loving God in every way a human can love.

With all our hearts: our emotions and senses.

With all our souls: the life force itself, that which gives our bodies life, our essence. Worship involves a passionate love for God.

With all our minds: We are to have no ungodly thoughts, or songs, or movies, or television shows, or books in our minds (see Psalm 101:3). We are to think about our faith, to study God's word, to engage intellectually in the worship of God.

With all our strength: We love God with our actions, not only on Sundays. God is looking for Monday Christians, Monday worshippers, Monday disciples.

How to Worship

You can love God the same way you love anyone else. You can spend the day with him—talking to him, thinking about him. Ask him for what you need, and thank him for what he gives. Spend the day with Jesus. Love him. Worship him. This is his first commandment for every day.

Worship is not performance, entertainment, therapy, or even evangelism.

Worship is not about us. It is about loving God, every moment of every day.

We were created for worship. He gave us free will so we could choose to worship him. Nothing else fulfills us.

Worship provides the power to serve God. If you want God's power for your life, you must worship God every day.

Why Do We Worship?

Because God deserves our worship. “We love him because he first loved us“ (1 John 4:10). He created and redeemed us, and made us a place in his perfect heaven forever. He watched his Son die on the cross, to save our souls and purchase our salvation. He gave everything for us. He deserves our worship.

When last did he receive yours?

Pray this week:

Lord, help me understand what it really means to worship. Take away my wrong ideas, and teach me how to love you with all my heart, soul, mind and strength. Amen.

Is this a new idea for you? Do you need help knowing what it means to worship God?

Alan Zibluk Markethive Founding Member

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Bitcoin Price Prediction- BTC Value by the Year 2020

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Bitcoin Price Prediction- BTC Value by the Year 2020

Currently, everyone within the crypto space is wondering what the future of Bitcoin holds for its investors in 2020 and beyond. The cryptocurrency market is widely known for its price volatility which can shoot to incredible highs or lows in a short period.

While this may be great for Bitcoin traders who depend on a buy-low-sell-high method of investment, it makes these digital assets a poor means of value storage. It also gives long-term investors a tough time since they have to continuously track this volatility to ensure the safety of their investments. When the price changes sporadically, it can become difficult to do so.

Despite how unpredictable this volatility makes the future of cryptocurrency seem, it has not stopped industry figures from predicting the possible future of virtual assets, especially Bitcoin. Although most of the predictions stem from mere speculation within the cryptosphere, a good number of them are derived from complex quantitative methods. From research and modeling to creating special indexes, experts are working hard to prove that Bitcoin is here to stay. Predictions for 2020 vary widely, ranging from $20,000 to $1 million.

What is Bitcoin?

Bitcoin was the first cryptocurrency in existence and paved the way for the development of others. Cryptocurrencies like Litecoin were created by directly copying the original Bitcoin source code. It was created in 2009 by an anonymous developer under the pseudonym of “Satoshi Nakamoto” and has functioned as a store of value and an investment vehicle since then.

As a store of value, Bitcoin allows its users to send and receive funds without the need for an intermediary or central authority. The system is fully decentralized, leaving consensus in the hands of its network users. As an investment vehicle, Bitcoin has produced many millionaires, including the Winklevoss twins.

Early investors who bought into the cryptocurrency when its tokens were cheap rose to millionaire status when its price became worth thousands of dollars. Most of all, billionaires were made in December 2017 when Bitcoin soared to a record high of $20,000. Since then, the currency has underperformed in a series of bear runs, marking a market correction far worse than anticipated.

Another factor that makes the future of Bitcoin seem unpredictable is the fact that its usage has not increased by a substantial amount in 2018, implying stagnation. In truth, mass adoption is not occurring as quickly as the crypto industry would like to believe.

Apart from current adoption rates, there are several other factors to consider when analyzing the future value of a cryptocurrency. These include real-world events.

  • Technological improvements and modifications to a network such as a hard fork or software upgrade

  • The solidity and clarity of a platform’s future roadmap objectives

  • Announcements of new partnerships or sponsorship deals

  • New patents and discoveries by crypto research and development firms

  • A new exchange listing

  • New regulations

It is important to research all of the above factors rather than follow predictions blindly. Investors must also research predictions, looking at the specific reasons for each and ruling out any based on guesswork.

A Few Bitcoin Price Predictions for 2020 From Prominent Industry Figures

John McAfee

He is the creator of popular antivirus software, McAfee antivirus, and a well-known presence in the cryptocurrency industry because of his outlandish price predictions and interesting background. McAfee, who makes a lot of money from ICO promotion, has revealed that cryptocurrency projects are willing to pay him more than $100,000 to make his predictions.

In 2017 he predicted that Bitcoin would reach $500,000 in 2020, a price which he upped to $1 million recently. According to McAfee, his prediction is based on a price model he created, which also predicted that Bitcoin would hit $5,000 by the end of 2017 – a feat that seemed unbelievable at the time. If McAfee’s model is accurate, his prediction puts total market capitalization at $15 trillion. This would mean a 4,900% increase from Bitcoin’s peak of $20,000.

Recently, he predicted that Bitcoin will hit $15,000 in June 2018 despite the cryptocurrency’s poor performance in the previous month. That prediction failed, emphasizing the fact that not all of McAfee’s predictions come true and users must take all predictions with a grain of salt.

McAfee, a major Bitcoin bull, is seemingly unfazed by criticism claiming his predictions defy the mathematical behavior of the market. However, McAfee continues to support Bitcoin.

Tom Lee

Thomas Lee, co-founder and head of research at Fundstrat Global Advisors, a popular cryptocurrency research firm, predicted that Bitcoin could reach $25,000 by the end of the year. [Editor’s note: He later revised that prediction to $15,000.]

Mostly known for his Bitcoin price discussions on live TV and the creation of a misery index for monitoring the price of Bitcoin, Tom Lee is definitely a respected industry figure. He also made another prediction placing the price of BTC at $91,000, through a chart analysis of Bitcoin historical price movements.

Osato Avan-Nomayo

Bitcoinist analyst Osato Avan-Nomayo predicted that the Bitcoin mining reward will be halved from 12.5 BTC to 6.25 BTC by 2020. The Bitcoin mining reward has only been halved twice since the currency first emerged.

In 2012 it halved from 50 BTC to 25 BTC, and in 2016 it went from 25 BTC to 12.5 BTC. When both events happened, Bitcoin saw higher prices shortly thereafter. Although Bitcoinist did not predict a specific price for BTC, their analysis predicts new price peaks up to $20,000.

Fran Strajnar

CEO of Brave New Coin, Fran Strajnar has predicted a Bitcoin price of $200,000 by 2020 as a result of increasing adoption rates. According to Strajnar, as more users join the network, more wallets and apps are being created and used. He expects that as usage increases, so will the price of BTC in the long run.

 

Alan Zibluk Markethive Founding Member

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