Justcoin bitcoin miner

Here is a short list of the bigger and more popular crypto currency exchanges out there that trade with not only Bitcoin, but Litecoin as well as many other alternative cryptos. Some of these exchanges are trading only between different crypto coins for example BTC for LTC, or DOGE for BTC and you cannot buy with money in them — Cryptsy, but others also trade with real money and you can both deposit and withdraw in cash as well as in cryptocurrency — Mtgox. There are even exchanges that only serve to connect the traders — Local Bitcoins. Worldwide: — Coinbase — Cryptsy — Bittrex — Kraken. Norway: — Just Coin. Canada: — Cavitrex.

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Content:

• News Aggregator
• What is JUST (JST)? Here are all the details of Crypto Money JUST Coin
• Justcoin shutting down today, cites bank account closure, comes weeks after $300k "goxing"
• Justcoin Exchange to Reopen
• A Guide to Bitcoin (Part IV): A look at European Bitcoin startups
• Kjøpte leilighet for internettpenger
• Root Cause Estimates
• Bitcoin price falls to 11-month low
• Mystery Entity Just Set up 20K Bitcoin Miners in Siberia: Report
• Hunger for bitcoin grows in Scandinavia as regulatory approach evolves

WATCH RELATED VIDEO: My First BITCOIN Miner!

News Aggregator

How to provide that axle and keep those bearings well oiled is what market design is about. Blockspace is the commodity that powers the heartbeats of all cryptocurrency networks. In the blockspace market, miners are the producers, mining pools are the auctioneers, and users are the bidders.

The influences of the blockspace market are so pervasive that they touch almost every facet of the cryptocurrency ecosystem. Each transaction has a fee attached to it. The fee signals the desire to purchase blockspace, which allows the transaction to be processed and included in a block.

Each block has a probability of becoming the next block. By contributing billions of computations per second, the miners collapse the probability wave and materialize the ledger history.

Since the size of a block is capped, there is a limited number of transactions that can go through at a given time, thereby giving blockspace an implicit time-value.

A transaction that stays unconfirmed for too long may be subject to market volatility, or get frontrun by arbitrage bots. The fee users pay to purchase blockspace, reflects their willingness to bid for its spacetime.

The blockspace market connects the miners and users together. On the surface, the blockspace market looks complex and chaotic because it lacks central coordination. It relies on detailed rules, procedures and the confluence of supply and demand to make self-adjustments. How do we know if the current market design is optimized for success? Nobel Laureate Alvin E. Roth is considered a pioneer in the field of market design.

In the following sections, we illustrate the structure of the Ethereum blockspace market from the perspectives of the supply miner and the demand users. We examine if the current blockspace market design provides depth, ease congestion, or participation is safe and simple. Next, we discuss the popular proposals to optimize the market structure, as well as how the blockspace market will likely evolve in the future. The ultimate purpose of the entire mining industry is serving as a decentralized transparent clearinghouse for a single commodity: the blockspace.

The task is by no means trivial. Despite popular concerns of hashpower concentration, the mining industry is not a single-minded organism. Fluctuations in the blockspace market affect each component with different degrees of impact; and each individual miner is heavily affected by factors like location, machine type, temperature, maintenance, and mining strategies.

Bitcoin and Ethereum mining have distinctly different market structures. Ethereum on the other hand, despite being the second largest in market cap, has barely any ASIC presence.

They either directly sell discrete graphics cards or wholesale GPU chips and memory to lower stream graphics card manufacturers. There are many white-label custom mining card brands. As a result, the hashpower composition of Ethereum is much more diverse than a typical ASICs network. This also makes it challenging for distributors to monopolize the channels. This means that the initial supply is usually not as bottlenecked as ASICs that use advanced backend processes.

In addition, GPU miners are not tied to any specific networks. Miners engaging in speculative mining almost exclusively use GPU miners. Moreover, retail GPU cards are valuable in other areas of computing such as gaming, datacenter, and AI jobs. Overall, GPU miners have higher option value in their hardware. Structure determines properties. The two factors are pivotal in calculating mining expense, which has a rippling effect on the rest of the mining ecosystem: from manufacturing, distribution, hosting facilities, fluctuation of gas cost, preference for EIPs, to the defining characteristics of its mining cycles.

In The Alchemy of Hashpower , we introduced the four archetypal phases of the mining cycle according to the relative rates of change between Bitcoin price and network hashrate:.

Due to the inherent illiquidity of hardware, network hashpower tends to lag price changes. These delays are especially significant this year as the market sails full throttle into a raging bull trend. Miners and investors rush to place orders for new machines.

The manufacturers on the other hand, are just beginning to recover from the supply chain halt during COVID, and the global integrated circuits shortage is forcing all semiconductor businesses - mining, automobile, consumer electronics, to wait in a long queue for wafer allocation.

Transaction fees as a percentage of total block reward are much higher in Ethereum than in Bitcoin. This means miners pay attention to not just coin price but also gas trends.

Even if price stays flat, increase of transaction fees will be sufficient to incentivize miners to increase hashpower-under-management. Data source: Coinmetrics. In addition, as discussed in the earlier sections, due to the option value of GPUs and flexibility in distribution, it is easier to scale up or down hashpower compared to an ASIC network.

As a result, the cycles in Ethereum mining tend to be shorter:. A shorter cycle means competition ramps up faster when mining revenue is high, and hardware option value means it is easier for hashpower to unwind when revenue is low.

Data source: CoinMetrics. A noticeable increase in coin price and fees attract more miners to participate. The supply of blockspace is determined by block size and the average block time. This means that the increase in hashpower does not drive down network transaction fees but increases the security budget of the network.

For anyone initiating on-chain transactions, the fee paradigm is a defining core user experience. As the most popular platform for storing and executing smart contracts, Ethereum experienced a meteoric rise in utility. Ethereum users today participate in the blockspace market via a repeated first-price auction. It is a simple auction where users submit a bid for their transaction to be included in the next block, which is paid to the miner in the form of a transaction fee.

That is, simply including transactions with descending order in fees without prioritizing any specific addresses. Source: Ethereum Gas Price Statistics. The market structure is simple: users want to minimize the fees paid to miners to enjoy a smooth experience, whereas miners want to maximize their revenue since they are for-profit entities. It is an undisputed fact that the fees paid by users will always obey the laws of supply and demand: blockspace per second is the scarce asset, and as a result users that want immediate inclusion of their transactions will always pay more than users willing to wait for the next block, as evidently seen by the shape of the pending transaction queue below.

For miners, blockspace in the future has lower time value due to uncertainties in price, network difficulty, and fees. For users, blockspace in the future has lower time value because of the uncertainty in the profitability and the utility of their transaction.

The time value of blockspace directly translates to the amount of fees users pay. Median gas prices fluctuate from to Gwei in the span of a week. It is clear that in times of congestions, the gas price often spikes too much for general users. Where exactly is the bottleneck? This unpredictability stems from the fact that users cannot coordinate on the correct fee for being included in the next 1, 5 or 10 blocks.

Constant factor improvements can be made by allowing users to express their fee preference over a range of blocks, e. The initial version of a novel technology is always crude.

Over the years, different working versions emerge to address the problem of congestion. The market design of blockspace involves balancing the interests of many factions in the ecosystem.

At the current juncture, three possible paths have been discussed:. One may be tempted to increase the size of a block, so that it can fit more transactions i. This change would only be a painkiller that temporarily alleviates the pain from high fees, since fresh demand would quickly fill up blocks, bringing fees up again. In addition, block size increases make the blockchain node software more resource intensive, so they should be avoided to preserve the decentralization of the system.

Another approach would be to restructure the bidding process. It is also scheduled for activation in Ethereum in July , which will be the biggest fee market mechanism change to ever happen in a public blockchain.

EIP is also one of the most controversial topics in Ethereum to-date. However, not all miners feel the same way. The founders of F2Pool, who are active users of DeFi products themselves, are in favor of the proposal. Ultimately, in a structureless open ecosystem with roots over different parts of the world, human coordination remains one of the biggest challenges.

Longer term, the proper solution is to allow the supply side to scale horizontally, without meaningfully affecting the trust requirements of the layer 1 system. After all, users want low fees, and low fees are not an economic mechanism design question but a fundamental blockchain scalability question.

It is worth noting that scalability also allows more demand to enter the system, which would counterbalance the decrease in the average fee per transaction. The main approach here is the so-called layer 2 solutions, such as Optimistic and ZK Rollups.

If we were in the Bitcoin context, then the discussion around the demand side would end here. In Ethereum however, an entire financial system is being built which distorts the rules of the game. Similarly to how people race to queue up to get limited edition clothing, developers have built software which intelligently races for on-chain opportunities, and even competes with other bots by placing gas price bids.

These predators are arbitrage bots that constantly monitor the activities on the mempool, and try to front run specific types of transactions according to a predetermined algorithm. DEX platforms such as Uniswap are likely infested with arbitrage bots.

These dark pools do not broadcast to the network, and instead relay the transactions directly to the miners, such that they are not broadcasted to other nodes on the network.

These dark pools are not entirely used for profit-maximization purposes. In Escaping the Dark Forest , security researcher samczsun documented how his group rescued 25k ETH from a faulty smart contract using this technique. Front-running and dark pools are not unique to the cryptocurrency market. They epitome a driving force in finance as old as time: secrecy.

Wall Street has long embraced this controversial beast. A market that looks thick on a human timescale, with hundreds of opportunities to trade in the course of a single second, can look comparatively thin to a computer.

Most of the extracted MEV is concentrated in arbitrage actions between popular automated market makers such as Uniswap, Sushiswap, Curve and Balancer, with a smaller slice of the pie being attributed to liquidations on Compound and Aave.

What is JUST (JST)? Here are all the details of Crypto Money JUST Coin

Every blocks, or about every two weeks, bitcoin resets how tough it is for miners to mine. Early Friday morning, as expected, the bitcoin code automatically made it about 7. Historically speaking, this spike in difficulty is on the larger side, but it isn't surprising, nor is it alarming. But it marks the first sizable increase since the Chinese mining ban took effect and serves as confirmation of a trend we already knew was underway: Some of the miners that used to be in China are finding new homes elsewhere. And while it may not be quite as lucrative to mint bitcoin as it was before the algorithm self-corrected, miners are continuing to make way more money now than they were before China's crypto crackdown in May.

Justcoin shutting down today, cites bank account closure, comes weeks after $300k "goxing"

Livecoin landing website was overwritten with the following message with a RU translation underneath. We are under a carefully planned attack, which has been prepared, as we assume, over the last few months. We lost control of all of our servers, backend and nodes. Thus, we were not able to stop our service in time. Our news channels were compromised as well. News and next update will come up in the next few days. We really do our best to overcome this issue. EXMO has advised to not deposit into the exchange until further notice. They have ensured their cold storage is safe and only unauthorised access were to their hot wallets.

Justcoin Exchange to Reopen

Welcome to our permanent landing page on all the crypto currency and related breaches. Stay tuned for her upcoming articles that will shine a light on this dark area of commerce. North Korea Bitten by Bitcoin Bug. Nicehash was a cryptocurrency mining service and marketplace, allowing users to buy and sell their own mining power. While not necessarily a mining pool of its own, it still maintained a wallet for customer funds.

A Guide to Bitcoin (Part IV): A look at European Bitcoin startups

Deposits are closed. Trading will close tomorrow, October 29th. We urge all users to withdraw their funds as soon as possible. Final deadline for withdrawals is November 11th. Please allow up to 24 hours for your withdrawals to process. We will manually batch withdrawals of all currencies.

Kjøpte leilighet for internettpenger

The value of one bitcoin has fallen to its lowest level for almost a year. Economic experts put the steady fall in value down to the internal mechanics of the system used to generate bitcoins. Since the fall at the weekend, values have recovered. An increasing number of shops and payment-processing firms have signed up to let people use the virtual currency to pay for goods and services. Paypal's announcement in late September that it was putting in place systems to let its merchants accept bitcoins caused a brief bump in the value of the crypto-cash, but this has now been eroded.

Root Cause Estimates

Blockchair News Aggregator allows you to stay on top of all crypto-related news, in just one place. News Aggregator brings you news in 11 languages from more than biggest crypto media platforms. Major crypto exchange FTX is readying to set up shop in the land of the rising sun via the acquisition. Lebanon allegedly plans to forcibly convert foreign currency holdings to its floundering pound LBP , once again building a case for.

Bitcoin price falls to 11-month low

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Please change the wallet network. Change the wallet network in the MetaMask Application to add this contract. United States Dollar. JUST is up 0.

Mystery Entity Just Set up 20K Bitcoin Miners in Siberia: Report

Justcoin is a digital currency exchange, founded in with its office in Oslo, Norway. Justcoin is solely an intermediary and does not buy or sell currency. Klaus is CEO and responsible for administration, daily settlement and non-technical support. Andreas has graduated from the University of Oslo with a bachelor degree in computer science. Being a highly experienced programmer he probably influenced Justcoins focus on API, strong technological background and custom solutions, that are not found in many other Bitcoin exchanges. Being quite locally focused exchange, Justcoin already has more than registered users what is quite impressive. According to Alexa rankings, their daily visitor count exceeds 13 what leads to the idea that many of registered users are using this exchange quite often.

Hunger for bitcoin grows in Scandinavia as regulatory approach evolves

Last month the Norwegian-based Justcoin exchange announced it was shutting down operations. Weeks before this announcement, the exchange was hacked and a large amount of Stellar and Ripple has vanished; many were the voices accusing the exchange with lack of security which was probably the cause leading to the theft. Short after this, the Scandinavian Bank working with the exchange turned its backs on the exchange announcing they were removing their support which worsened the situation to the exchange.