Small mining farm expert 2017
This story was supported by the Pulitzer Center. At the edge of a lake on a fault line of the new Cold War stands a building that, depending on how you look at it, is either a relic of a failed revolution or the beating heart of a new one. In Soviet times, the Kuchurgan electricity plant powered a swath of the empire from Romania to Ukraine. Today, its red and white striped smokestacks still loom over the surrounding cornfields, making ants of the workers who file out at quitting time.
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Small mining farm expert 2017
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- The crypto scam on Instagram that cost Jonathan and his friends $20k
- Largest Bitcoin Mining Farms in the World
- While Bitcoin price surges, ramped up cryptocurrency mining takes heavy toll on the planet
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- A bitcoin mining power plant secretly set up shop in Alberta. Now it's being forced to shut down
- Banking Is Only The Beginning: 58 Big Industries Blockchain Could Transform
The crypto scam on Instagram that cost Jonathan and his friends $20k
He'd made thousands of dollars on a single trade the night before, and was feeling lucky. It seemed safe. Adam had investigated the coin's development team on LinkedIn, and watched a video of its CEO laying out a roadmap for the coin's future. A newswire piece published on Yahoo touted DeTrade's technology as advanced enough to disrupt cryptocurrency. Bitcoin is very much back in the zeitgeist.
But while for many people Bitcoin is synonymous with cryptocurrency, it's not what crypto traders like Adam are interested in. Beneath Bitcoin and Ethereum, the second-best-known currency, is a strange underworld of different cryptocurrencies. Called altcoins or, sometimes, "shitcoins," these are essentially penny-stock cryptocurrencies. And they're crazy. Bitcoin tripled its value recently, but many altcoins explode 30, 40 or 50 times over within days.
The most famous is Dogecoin, which recently shot up past 10 cents thanks to a potent combination of Reddit and Elon Musk , but there are thousands of altcoins, forming an Indiana Jones-esque Cave of Crypto Wonders. The spoils can be life-changing, but there are traps around each corner. Fortunes can be made and lost in seconds. Cons and fraudsters are everywhere, with traders vulnerable to scams at each step of the process. Case in point: Adam's foray into DeTrade.
The touted technology behind it wasn't real. Nothing about the project was. It was a scam. Those behind it, operating in the unregulated world of crypto, vanished. Adam got into cryptocurrency last September. When we spoke, it felt like he'd crammed years of trading into two months.
Adam had seen some tempestuous trading in the weeks prior to DeTrade. He met people in Telegram groups, and was able to track their trades using apps that follow a user's wallet -- a common practice within cryptocurrency circles. The community is enthusiastic, but there's a small problem. Right now cryptocurrencies don't really do anything. Late saw Bitcoin explode. Investing in a stock means ascertaining its value -- based on factors like competition, risks and, above all, profit generation -- and then putting money into ones that are undervalued.
If other investors follow you, the stock rises, giving you an opportunity to take profit. Speculation is naturally part of this: The Dot-com Bubble was all about pouring money into "pre-profit" companies in the hopes they'd make money someday. Cryptocurrency, however, takes speculation into the stratosphere. For the most part, cryptocurrency is pure speculation.
People are investing in technology that produces nothing, and as yet has little or no practical application. That's a little under 15 times the price of an Apple share. Doge, a coin marketed after the internet slang for "dog," doubled in value in January after a pornstar tweeted about it. After the price settled, it then rocketed once more when Reddit wanted to make it the GameStop of cryptocurrency. David Gerard is one such skeptic. His most recent focuses on Libra , Facebook's ill-fated attempt at digital currency.
All of this is about the psychology of get-rich-quick schemes. In his years working as an IT systems administrator, Gerard's job has been to examine new technology and discern what's useful and what's not.
Cryptocurrency, he told me, is not. This is the allure of "shitcoins. That's no exaggeration. Cryptocurrencies are mined using powerful computers, and many enterprising types put together farms of computers used solely for the purpose of mining Bitcoin. As a result, Bitcoin is responsible for more energy consumption than Switzerland. Gerard says the only thing you can do with Bitcoin is buy it and sell it. He's even harsher on altcoins. Even by the standards of Bitcoin, altcoins are useless," he said.
This is precisely what makes them so fascinating. Seemingly, all they can do is get internet punters to bet on their success. But this enables average people to become rich. That Meme coin I mentioned before? Crypto Spider -- who, like most people in the cryptocurrency community, goes by a pseudonym -- has made millions with altcoins. In cryptocurrency, you can follow someone's portfolio if you have their wallet number, so the community was able to watch this challenge play out in real time.
Like Adam, Crypto Spider has no background in finance or trading. He lists college courses in game theory, basic algorithmics and some economics as useful to his crypto exploits -- but in essence he's a self-taught amateur. He declined to tell me his specific age, only that he was "20ish" when he first got into cryptocurrency in He admits he was attracted by the "pretty numbers," by seeing coins magnify in value 30, 40 and 50 times within a short period.
He was enthusiastic enough to start a university club around cryptocurrencies, and how they'd be used in the future. Crypto Spider says cryptocurrency will play a "major part in the future of finance," and speaks with the passion of a believer.
He breathlessly transitions from how cryptocurrency is a part of the internet's evolution to the possible use cases of blockchain , the technology behind Bitcoin, in the next 10 years. But despite his enthusiasm, I couldn't help but notice how chunks of what he said echoed Gerard. Cryptocurrencies are mined using powerful computers. More emissions are produced by global Bitcoin miners than by the entire country of Switzerland. For one thing, he looks back at all the projects he was excited about in and realizes most were almost entirely vaporware, technology that's advertised but never delivered.
Gerard calls the cryptocurrency community a pool of scammers. Spider notes that people often invest in altcoins they know don't have a function, because there's enough hype around the project to make money. I somehow was able to game all the other people. He first approached cryptocurrnecy trading with the mentality of, "I'm young, I'm dumb, I can lose all my money and it'll be OK.
Again though, it reminded me of something Gerard said: "If you're rich enough that your money is your own problem, fine. If you know zero is a number your investment could go to, fine. People really are getting ripped off. Difficult to regulate and subsisting largely on hype, cryptocurrencies are particularly prone to scams. Those are two of the biggest instances of crypto-fraud.
But millions of dollars are scammed from cryptocurrency markets every day in less dramatic ways. Coins are suddenly discontinued, with owners taking all the money with them in what the community calls "rug pulls. Other times, entire cryptocurrency exchanges -- which sell coins like a stock exchange sells stocks -- vanish. A lot of people are taking on pseudonyms, because they're almost all money grabs. Coming into wider use in recent years, deepfakes are mostly used for pornographic purposes , but as the DeTrade scam shows, deepfakes can also be used in financial scams.
OneCoin founder Ruja Ignatova at an event for the "revolutionary" cryptocurrency. Ignatova disappeared around the time OneCoin was discovered to be a fraud: The cryptocurrency the company sold didn't actually exist.
Ignatova has yet to be found. Gerard says he's never seen a deepfake used as part of a scam before. Crypto Spider says he's seen it just once. Deepfake technology "is being democratized, and that may not be a good thing," said Julie Inman-Grant. Ironically, it's blockchain, the behind-the-scenes technology, that could be the solution to the burgeoning deepfake problem.
In cryptocurrency, the blockchain is an unalterable ledger that tracks every transaction. Once it's on the ledger, it can't be altered. That same technology can be used to track anything -- like the creation and distribution of a video, from studio to iPhone screen.
There are already startups working toward this, like Truepic. When I asked about blockchain's ability to neutralize deepfakes, Inman-Grant wasn't entirely optimistic. For skeptics, a higher peak just means a more precipitous fall. That means less of the "pretty numbers" Crypto Spider was attracted to, but hopefully fewer scams. For Adam, DeTrade actually had a happy ending. One aggrieved victim of the scam analyzed the metadata of the deepfake, which he used to track down the perpetrators.
After some naming and shaming across Telegram, the money was returned. Daniel Van Boom April 13 It was a Saturday morning in December and Adam was feeling bold.
Largest Bitcoin Mining Farms in the World
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While Bitcoin price surges, ramped up cryptocurrency mining takes heavy toll on the planet
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Ben is mining for bitcoin in the Chinese province of Sichuan, hoping every day that he doesn't get caught by the authorities. Like other crypto miners who have gone underground since Beijing cracked down on the industry earlier this year, Ben — who asked only to be identified by his nickname to ensure his safety — is getting creative to evade detection. Ben has spread his mining equipment across multiple sites so that no one operation stands out on the country's electrical grid. He has also gone "behind the meter," drawing electricity directly from small, local power sources that are not connected to the larger grid, such as dams. He's taken steps to conceal his geographic digital footprint, as well.
A bitcoin mining power plant secretly set up shop in Alberta. Now it's being forced to shut down
The prices of most cryptocurrencies have soared massively since the start of the year despite the recent bearish trend. The rally came as the adoption of cryptocurrencies continued. The entry of more corporate entities into the crypto space helped push the price higher. Tesla began accepting Bitcoin as a means of payment for its electric vehicles; MicroStrategy continued to accumulate more bitcoins, and El Salvador was preparing a bill to make Bitcoin a legal tender. However, from May, Bitcoin went on to underperform till September.
Banking Is Only The Beginning: 58 Big Industries Blockchain Could Transform
When residents of an affluent estate community in Alberta started hearing noise from a nearby power plant, they didn't expect their complaints of sleepless nights would lead to a months-long investigation that would find a bitcoin mining operation had set up shop without approval. Now, Link Global, the company behind the site, is being ordered by the province's utility commission to shut down two plants until it can prove it's allowed to operate — a move the company says will cost jobs and cause the oil and gas infrastructure in which it operates to sit dormant. Jeff Kocuipchyk first started hearing the noise last fall. He's president of the Greystone Manor Community Association, a small neighbourhood located in Sturgeon County, about 10 kilometres from the northwest outskirts of Edmonton. It's just like a wave … but it's 10 times louder and times more annoying," Kocuipchyk said.
The cryptocurrency was invented in by an unknown person or group of people using the name Satoshi Nakamoto. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. Bitcoin has been criticized for its use in illegal transactions, the large amount of electricity and thus carbon footprint used by mining, price volatility , and thefts from exchanges.
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Try out PMC Labs and tell us what you think. Learn More. Box , Arusha, Tanzania. Characterization of smallholder farmers has been conducted in various researches by using machine learning algorithms, participatory and expert-based methods. All approaches used end up with the development of some subgroups known as farm typologies. The main purpose of this paper is to highlight the main approaches used to characterize smallholder farmers, presenting the pros and cons of the approaches. By understanding the nature and key advantages of the reviewed approaches, the paper recommends a hybrid approach towards having predictive farm typologies.
A former rare earth mining site in Longnan county, Jiangxi province. The mountains north of the village of Lingbeizhen in southern Jiangxi province no longer echo with the rumble of bulldozers and trucks. New bamboo groves climb the ravines. Tropical pines and navel orange trees grace terraces carved from the mountainsides, covering what was a hive of activity a few years back.
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