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Canadian Cloud Mining Powerhouse Nuvoo Revolutionizes Cloud Mining Industry with a Month-to-Month Contract and 50% Cheaper Rates!

Nuvoo, the largest crypto ecosystem mining company in Canada, is now taking giant strides towards emerging as the world’s leading platform for convenient and profitable cryptocurrency mining. The company has just released a new bitcoin contract that will completely change the game for the industry, with a month-to-month concept based on a 24-month payment for an open-ended contract. October 16, 2018 As one of the world’s most trusted crypto mining companies, Nuvoo proudly announces the release of a new bitcoin contract that promises to have a significant impact in the global crypto space. With these new contracts, backed by the

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Nuvoo, the largest crypto ecosystem mining company in Canada, is now taking giant strides towards emerging as the world’s leading platform for convenient and profitable cryptocurrency mining. The company has just released a new bitcoin contract that will completely change the game for the industry, with a month-to-month concept based on a 24-month payment for an open-ended contract.

October 16, 2018

As one of the world’s most trusted crypto mining companies, Nuvoo proudly announces the release of a new bitcoin contract that promises to have a significant impact in the global crypto space. With these new contracts, backed by the latest ASIC technology, Nuvoo has already started offering a low pricing structure to challenge the likes of Genesis, Hashflare, and other competitors. Nuvoo is pleased to say that their Bitcoin mining rates are currently 50% cheaper, including a lower maintenance fee, compared to Genesis Mining.

With the launch of this new contract, Nuvoo becomes the first company ever to offer customers the benefit of making payments in up to 24 installments. For example, someone purchasing a $3000 contract from Nuvoo will enjoy the privilege of paying just $125 each month, spread out over 24 months. This creates an opportunity for Nuvoo customers to get larger contracts for lower monthly payments, and it allows the market to grow in a major way.

With a bitcoin mining system that is ideally suited for beginners, Nuvoo offers a smart and easy way for crypto hobbyists to take their first steps into the crypto world. At the same time, their system has been used to great effect by crypto experts and entrepreneurs to operate large-scale mining farms. As part of their rapid diversification drive, Nuvoo will soon be launching their own cryptocurrency exchange.

“We have the most advanced platform to manage cloud mining activity with the most efficient affiliate plan. The time has come for the world to know that Nuvoo is a far more stable crypto mining platform compared to Genesis, tipped by many to be the world’s largest cloud mining company,” said Mr. LeBlanc, the Founder and CEO, Nuvoo. “Now, with our new bitcoin contract in place, our pricing is around 50% less than the price of Genesis mining and the maintenance fee is lower than any competitors’ as a Canadian mining farm.”

Leveraging the excellent infrastructure and favorable climate in Quebec, Canada, Nuvoo currently owns and operates more than ten world-class datacenters catering to thousands of customers around the world. Crypto enthusiasts have put their trust on Nuvoo because they offer one of the safest and most transparent ecosystems for crypto miners. In order to provide the best contract prices to customers, they never make any profit on mining equipment.  The customers buy fixed Hashpower contracts, provided directly from one of the largest state-of-the-art ASIC mining farms owned and operated by Nuvoo.

Unlike other competitors, Nuvoo emphasizes lower mining costs and the use of greener energy. This is possible because a high percentage of electricity in Quebec is generated from hydroelectric dams. The cooling costs are also lower because the region remains significantly cold for a considerable part of the year.

Nuvoo attributes their strong position in the market to the company’s special relationship with energy providers and several municipalities in Quebec, all of whom are key players in managing the generation, transmission, and distribution of electricity in the province. In January of this year, Nuvoo was invited to a special event presented by Hydro-Quebec, as a guest panelist in order to represent the blockchain community.

Bitcoin mining contracts from Nuvoo are open-ended, and payouts are generated on a daily basis with the withdrawal limit set at 0.0020 BTC. To provide miners with an idea of the earning potential of each mining plan, there is also an efficient mining calculator on the company’s website provided by Cryptocompare, a neutral third party.

Nuvoo and its parent company are about to launch their own exchange, featuring both fiat-to-crypto and crypto-to-crypto solutions. The company is very excited to finally provide a safe trading ecosystem to their clients.

About Nuvoo:  Nuvoo is a cryptocurrency mining powerhouse that focuses on offering cost-effective solutions to cryptocurrency hobbyists and professionals alike. Their philosophy is to enroll the top leaders in the cryptocurrency industry and to make them available to the community. The company specializes in hosting high-density computer hardware requiring substantial access to both power and cooling.

Contact: Albane Morvan

Website: https://nuvoo.io/

Email: press@nuvoo.io

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Source: https://bitcoinsinireland.com/canadian-cloud-mining-powerhouse-nuvoo-revolutionizes-cloud-mining-industry-with-a-month-to-month-contract-and-50-cheaper-rates/

Blockchain

Indian government cautious about crypto-adoption, CBDC is a possibility

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Indian traders and exchanges might be bullish about the crypto market, but the Indian  government doesn’t seem keen on rushing into the scene. At least, not until studying its homegrown fintech industry and the anti-Bitcoin protests in El Salvador.

Tracking global news

Indian finance minister Nirmala Sitharaman in a recent interview with Hindustan Times explained why the country seemed to be falling behind when it came to crypto adoption.

Though she admitted, El Salvador wasn’t “the best example,” Sitharaman said,

“You’d think common people don’t care about digital currency; but the public took to the streets against the move. It’s not a question of literacy or understanding – it’s also a question of to what extent this is a transparent currency; is it going to be a currency available for everyone?”

Sitharaman referred to CBDCs as a “legitimate” cryptocurrency and admitted there could be a “possibility,” in hat regard. She noted that India held the “strength of the technology” and acknowledged the need to formulate a Cabinet note. However, Sitharaman wondered if India was ready to follow El Salvador’s way.

Facts on the ground

Though accessibility is a pressing concern, more Indians have discovered crypto than perhaps expected.

Nischal Shetty, CEO of the Indian crypto exchange WazirX – a subsidiary of Binance Holdings – has stated that WazirX sign-ups from India’s tier-two and tier-three cities overtook those from tier-one cities this year. Even so, sign-ups from tier-one cities themselves saw a 2,375% rise. Furthermore, WazirX added one million users in April 2021 alone.

Adding to this, the cost of electricity and Internet data in India are relatively cheaper, which could boost both crypto trading and mining in the future. However, at the last count, there was only one Bitcoin ATM in the whole country.

As per data by Useful Tulips, which combined data from Paxful and LocalBitcoins, India saw transfers worth around $4,502,369 in the last two weeks.

Could anti-Bitcoin protests happen in India?

There is evidence to support both sides. India has a strong history of mass protests, with the farmers’ protests against the government’s agricultural laws being one such example. The 2016 demonetization of part of the country’s paper currency still haunts many, and Internet penetration is yet to cross 50%.

However, India also has the largest diaspora in the world, with approximately 18 million people living outside the country. Crypto innovation could lead to hundreds of millions of dollars being saved on remittance charges as money is sent across borders.

But for the time being, it seems India’s urban residents are more bullish about crypto than its government.

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Source: https://ambcrypto.com/indian-government-cautious-about-crypto-adoption-cbdc-is-a-possibility

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A Deep Dive Into The Bitcoin Wallets Of U.S Congress Members, And Why Bitcoiners Are Strongly Against Them

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A Deep Dive Into The Bitcoin Wallets Of U.S Congress Members, And Why Bitcoiners Are Strongly Against Them

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Key takeaways

  • U.S. Congress’ split disposition towards cryptocurrencies raises concerns among market participants.
  • Bitcoin proponent, James Loop goes digging into the financial disclosures of Congress members.
  • His findings revealed only three Congress members have ever disclosed that they hold Bitcoin.

The United States is a key base for innovation and adoption in the cryptocurrency industry. According to data from Crunchbase, there are at least 1,135 organizations founded in the U.S. that provide various cryptocurrency-related services.

Despite the broad adoption of the asset class by the country’s citizens, the government is still divided on opinions about the growing cryptocurrency industry. This can be seen in the U.S. Congress where members of Congress are split between those who support and those who do not support Bitcoin, the most prominent cryptocurrency.

This polarised disposition of Congress has been a pain point for Bitcoiners. Bitcoin market participants have pointed out several issues that emanate from the fact that there are still members of Congress who have not shown themselves to fully understand Bitcoin.

The sentiment is that Congress members who do not fully understand the asset, having not used it, should not be responsible for making laws about it. Additionally, market participants also think it will be a conflict of interest if members of Congress who oppose Bitcoin are found to be holding Bitcoin or if those who support it do not own any. 

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Jameson Lopp, the co-founder, and chief technology officer of Casa – a leading provider of Bitcoin self custody solutions, has gone digging into the United States Senate Financial Disclosures portal. The investigation was carried out to identify Congress members who have declared holdings of cryptocurrencies, and Bitcoin in particular, in their portfolios. 

His findings paint a dismal picture as the majority of the members of Congress who have been vocal in supporting Bitcoin have not held the asset at all according to their financial disclosures for the year ending 2020.

According to his findings, only 3 Congress members have disclosed that they own Bitcoin. The now-retired Representative Bob Goodlatte of Virginia was the first Congressman to disclose the ownership of Bitcoin, doing so in 2017 even before laws were passed to make disclosure mandatory. According to his disclosure, he owned between $1,000 and $15,000 of Bitcoin at the time.

Among currently seated Congress members, only Senators Cynthia Lummis and Pat Toomey have reported Bitcoin holdings in their portfolios in 2020. Senator  Lummis reported owning $100,000 – $250,000 of bitcoin in 2020 making up between 0.6% and 2.75% of her net worth. Similarly, Senator Pat Toomey reported purchasing $1,001 – $15,000 of GBTC in June 2021. The GBTC investment is between 0.01% and 0.7% of his net worth.

The sleuth however concedes that he did not have the time and resources to go through the financial disclosures of all 535 congressional members. Nonetheless, it is telling that of the ones he checked, even members of caucuses in Congress that are affiliated to cryptocurrency and members that have drafted bills that will provide clarity for the industry do not hold Bitcoin or other cryptocurrencies as their financial disclosures show.

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Source: https://zycrypto.com/a-deep-dive-into-the-bitcoin-wallets-of-u-s-congress-members-and-why-bitcoiners-are-strongly-against-them/

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China Again? — Why The Crypto Market Lost Over $300 Billion In Hours And What To Expect

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China Reemphasizes It's Not Yet Done With Clamping Down On Bitcoin

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Key takeaways:

  • Crypto-market records over s$1 billion worth of Crypto liquidations in hours. 
  • Liquidated long positions significantly surpass shorts.
  • Fundamental factors pose serious threat to the market, but the road to recovery is near.

The crypto market has been hit with yet another massive liquidation. Within the last 24hrs, a whopping $1.03 billion worth of long and short positions have been liquidated, as reported by the aggregate derivative exchange platform ByBt.

When traders are long on a particular asset, they are simply gaining exposure to the cryptocurrency in question, in hopes that prices will surge significantly at a later time. It appears that a lot of investors were bullish on crypto for the most part, as long positions were significantly higher than shorts. Precisely $946.10 million worth of crypto was liquidated, while $6.56 million short positions were liquidated.

Liquidations usually take place in the crypto market when a trader’s leveraged position is forcefully sealed by an exchange when the trader’s initial margin is partially or totally lost. Futures and margin trading is usually where liquidation is common.

Many market pundits have warned against over-leverage, which they point to as the case of repeated liquidation. However, despite cryptocurrencies being high-risk due to the intense volatility, leveraging provides an opportunity for investors to generate significant profit. For this reason, liquidations are imminent.

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On a larger spectrum, the question at hand is how the market will be affected going forward. Although no one can accurately predict, recent events hint that the dip could go even deeper, no thanks to fundamental factors like the ongoing Evergrande crisis.

“The Hong Kong stock market plummeted, triggering a decline in global markets and cryptocurrencies. The main reason is Evergrande, China’s largest real estate company with nearly 2 trillion debts.” wrote Chinese journalist Colin Wu.

Thus far, leading assets like Bitcoin, Ether, Solana, Cardano, and many others have dropped in price value and are, at this time, still going downwards. Bitcoin has plummeted to $42,928. While losing more than 7% in value today. Ether, XRP, SOL, DOGE, and Cardano are likewise seeing an extensive decline.

In response to the dip, analysts have responded to their previous sentiments on Bitcoin especially, saying that the expected floor price for this month remains at $42,000 and that a bounce will follow a while later. Altcoin analysts are also keeping their fingers crossed to see how the next 24hrs play out before predicting the market’s trajectory.

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Source: https://zycrypto.com/china-again-why-the-crypto-market-lost-over-300-billion-in-hours-and-what-to-expect/

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