FancyCrypto: Making Crypto Mining More Accessible

Audy Castañeda
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<strong>FancyCrypto: Making Crypto Mining More Accessible</strong>

Cloud Mining is explained, and one of the most popular providers is discussed.

Mining, the process of verifying transactions and packaging them into blocks for submission to the Blockchain, is a critical component of many networks, including the largest, Bitcoin. It is the foundation on which the entire cryptocurrency ecosystem is built (in large part) and is absolutely central to crypto concepts. However, it is also very technical.

It is a process that requires complex technical configurations in terms of hardware and software, sufficient power supply, and, if efficient, dedicated storage space that is kept at the right temperature.

This in itself presents many barriers to entry for many retail investors who do not have access to significant capital. In essence, it prevents retail investors from participating meaningfully in a way that they too can make a sizeable profit. Cloud mining, therefore, is presented as an attempt at a solution.

What is Crypto Cloud Mining?

The concept comes from the word cloud. It is a virtual space. Cloud mining allows retail investors to invest as much money as they feel comfortable with, and in exchange rent cloud mining space from a company that typically operates (or rents itself) data centers.

At its core, cloud mining is the way to mine crypto using a remote data center with shared processing power. This particular type of mining allows users to mine BTC or other cryptocurrencies without having to manage the hardware on their own.

Mining rigs are hosted and maintained in a facility that is owned by a mining company. The customer simply needs to sign up and purchase mining contracts or shares, depending on how the deal is framed.

What is FancyCrypto?

FancyCrypto is a cloud mining provider, and according to its website, it has earned the trust of hundreds of thousands of users.

The company’s mission is to make mining more accessible to everyone by enabling access to large-scale industrial and technology data centers from virtually any device or location. The website claims that FancyCrypto operates between 2% and 10% of the world’s cloud mining hash rate.

FancyCrypto was founded in London in 2016. As a pioneering cloud mining company, Fancy Crypto has already built a reputation as a trusted provider of hash rates for over 360,000 users worldwide. You want to provide access to large-scale industrial data centers with the help of cutting-edge technologies to make cloud mining available to everyone.

The platform allows for the mining of multiple cryptocurrencies, including Bitcoin, Litecoin, DOGE, Ethereum Classic, and others. It also offers a variety of different packages that users can purchase, from the cheapest for $10 all the way up to $5,000. The daily earnings also vary, depending on the chosen contract. Their packages include Free Cloud Mining, Experienced Project Cloud Mining, and Ethereum Project Cloud Mining.

An important consideration here is that users are strongly advised to do proper research on their cloud mining provider of choice. As with many other initiatives in the industry, there have been cases of fraud, so it is important to remain vigilant.

By Audy Castaneda

What is Bitcoin Income? $BCH

Marina Meza
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<strong>What is Bitcoin Income? $BCH</strong>

Over the past decade, digital currencies have moved from the fringes of financial discussions to the forefront of international economic discourse.

Bitcoin may be the cornerstone of the cryptocurrency revolution, but it is just one piece of a larger, rapidly evolving puzzle. Here it will be explained one of the most important offshoots of the original cryptocurrency – Bitcoin Cash.

Born out of the need to address some inherent limitations of Bitcoin, Bitcoin Money has imprinted its own identity on the crypto landscape. It represents an intriguing combination of Bitcoin’s first framework and innovative solutions designed to improve transaction scalability and efficiency.

Origins of Bitcoin Income

Bitcoin, the pioneer of the cryptocurrency world, made its debut with the mining of the genesis block on January 3, 2009. This novel digital asset quickly gained popularity, but its growth was not without setbacks. Bitcoin has been consistently plagued by scalability issues and lengthy transaction times. It was to address these drawbacks that Bitcoin Income was conceived.

In 2017, Bitcoin Cash emerged as an attempt to solve Bitcoin’s transaction speed problem. Essentially, it is a “hard fork” of the Bitcoin blockchain. In blockchain terms, a “hard fork” means a significant change in the rules of the protocol, which causes the crimson to split into two separate paths at a given point, in this case, at block 478,558.

What is Bitcoin Cash?

Bitcoin Cash (BCH) is an alternative cryptocurrency, or “altcoin,” that was generated from Bitcoin, the leading cryptocurrency. The inception of BCH was the result of a hard fork in blockchain technology, with the main distinction being the size of the coin.

Previously, Bitcoin’s 1 MB block size limit led to transaction delays, which posed significant challenges to the cryptocurrency’s scalability. To remedy this problem and improve its ability to compete with more conventional cryptocurrency platforms, Bitcoin Hard cash opted for a larger potential block size. This innovation was intended to accommodate more transactions and allow the cryptocurrency to scale effectively.

Following its creation, Bitcoin Dollars quickly rose through the ranks to become the third most successful cryptocurrency, behind only Bitcoin and Ethereum. Despite having a top-quality transaction rate, Bitcoin Money’s acceptance rate does not match that of Bitcoin or Ethereum. In addition, differences within the developer community have led to the promotion of Bitcoin Hard cash more as an investment instrument than a transaction medium.

Bitcoin Cash vs. Bitcoin

On the technical front, Bitcoin Money functions identically to Bitcoin. Both cryptocurrencies have a maximum limit of 21 million units, employ nodes for transaction validation, and adopt a Proof-of-Work (PoW) consensus mechanism. PoW essentially involves miners using computational power to validate transactions, and are rewarded in BCH for their services.

However, there are significant differences between the two. Thanks to its larger block size, Bitcoin Hard cash can process transactions faster and at lower costs than Bitcoin. This makes it particularly suitable for smaller transactions, such as buying a cup of coffee with cryptocurrencies.

In addition, the protocol supports smart contracts and applications such as CashShuffle and CashFusion, showing its versatility beyond just being a transactional currency.

By Marina Meza

Top Five Crypto News of the Week

Audy Castañeda
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<strong>Top Five Crypto News of the Week</strong>

Binance.US suspends USD deposits and other relevant news.

Keeping up with the latest trends and understanding the risks and rewards of any investment, including cryptocurrencies, is essential to making informed and responsible decisions. This week’s top news includes:

  • Temporary suspension of USD deposits by Binance.US.
  • Gary Gensler accuses crypto exchanges of breaking the law.
  • SEC lawsuit against Coinbase.
  • Theft of $35 million from Atomic Wallet.
  • Delisting of cryptocurrencies affected by the SEC lawsuit by Robinhood.

Binance.US Temporarily Suspends USD Deposits

United States-based cryptocurrency exchange Binance.US has temporarily suspended US dollar (USD) deposits. According to Binance.US, the suspension applies to all USD deposits, including ACH deposits, wire transfers, and debit card transfers.

On June 9, Binance.US tweeted a lengthy announcement, warning, among other things, that any downtime in processing withdrawals going forward “may be the result of high volumes and weekend bank closures.” On a high note, it is confirmed that operations, bets, deposits and withdrawals of cryptocurrencies continue to be fully operational.

Gary Gensler Accuses Crypto Exchanges of Legal Violations

During the virtual conference “Global Exchange and Fintech”, the president of the United States Securities and Exchange Commission (SEC), Gary Gensler, has expressed his opinion that cryptocurrency exchanges are fully aware that they are breaching the law.

Furthermore, he has asserted that cryptocurrency exchanges offer products and services that fit the definition of securities, so they should be subject to regulations similar to those of the traditional stock market. However, many exchanges have not registered with the SEC or have complied with applicable regulations.

Gensler has noted that exchanges are operating in a regulatory gray area and that a clear regulatory framework needs to be established to protect investors and promote innovation in the cryptocurrency market. Additionally, he has highlighted the need to address the issue of market manipulation in the cryptocurrency space.

SEC Files Lawsuit Against Coinbase

The SEC accuses Coinbase of illegally operating without being registered with the regulator. The lawsuit itself, filed in the United States District Court for the Northern District of California, alleges that Coinbase has been planning to offer a lending program dubbed “Lend” that would offer investors a fixed 4% rate of return. for lending their cryptocurrency through the platform.

Coinbase, for its part, has claimed that the Lend product is not a security and has accused the SEC of failing to provide a clear reason for its stance. The company has said it has proactively worked with the SEC to get clarity on the regulatory status of “Lend”, but the SEC has chosen to file a lawsuit instead.

$35 Million Atomic Wallet Theft

Last Saturday the developers of the project admitted that the data of their users had been exposed. In total, it is estimated that cybercriminals could have stolen cryptocurrencies worth more than $35 million.

In this sense, Atomic claims that it is collaborating with leading security firms to identify possible attack vectors and learn the full dimension of what happened.

Robinhood Delists Cryptocurrencies Affected by SEC Lawsuit

Robinhood, the well-known cryptocurrency trading platform, has announced that it will delist three cryptocurrencies from its platform as of June 27. Which were considered as securities by the United States Securities and Exchange Commission (SEC). The affected cryptocurrencies are Polygon (MATIC), Cardano (ADA), and Solana (SOL).

According to the announcement, all other cryptocurrencies available on Robinhood will not be affected, so users will be able to continue trading them, depending on where they live.

By Audy Castaneda

ETH Bears Will Target Under $1,700 On SEC and Binance Fallout

Audy Castañeda
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<strong>ETH Bears Will Target Under $1,700 On SEC and Binance Fallout</strong>

On Saturday, ETH fell 4.83% to end the day at $1,752. Investor’s reaction to Binance-related news weighed on ETH and the broader market.

Ethereum (ETH) fell 4.83% on Saturday. Following a 0.27% drop on Friday, ETH ended the day at $1,752. ETH ended the day below $1,800 for the first time since May 13.

Following the broader market, ETH rallied to an early morning high of $1,845 before pulling back. Missing the first major resistance level (R1) at $1,855, ETH fell to a mid-morning low of $1,716. ETH fell through the major support levels to end the day at $1,752.

Binance and SEC News Sink ETH and the Crypto Market

It was a quiet Saturday session with no US economic indicators or Fed talk to distract investors. The lack of US influence left betting statistics and crypto newswires to provide guidance.

The news that SEC Nigeria ordered Binance Nigeria to stop targeting Nigerian investors was bearish. However, Binance’s decision to pause US dollar deposits and suspend US dollar withdrawals left ETH and the broader market on the defensive. The latest betting statistics reflected the bearish sentiment.

Participation Statistics Reflect Market Sentiment Toward SEC Moves

According to CryptoQuant, staking entries fell from 43,008 ETH on Friday to 19,584 on Saturday. Significantly, tickets fell to the lowest level since April 12. The total value staked flattened, influenced by the staking statistics and the bearish ETH session.

The overnight withdrawal profile was bullish, with capital withdrawals below normal levels. However, withdrawal projections for the morning session were bearish, with major withdrawals projected to trend up before returning to normal levels.

On Saturday, ETH’s net staking balance fell 67.11% to a surplus of 37,570, equivalent to $69.16 million. Deposits totaled 45,910 ETH against withdrawals of 8,330 ETH.

According to TokenUnlocks, the total pending withdrawals were 104,130 ETH, equivalent to approximately $182.19 million. More specifically, the participation APR stood at 6.66%, down 1.33% in 24 hours.

ETH: What Lies Ahead

This Sunday should be a quiet session for the crypto market, as there are no US economic indicators or FOMC members to consider. Lack of stats and Fed talk leave investors trawling crypto news wires and betting stats.

News related to SEC vs. Ripple, SEC vs. Binance, and SEC vs. Coinbase (COIN) will remain focal points as investors await a response from US lawmakers on the latest SEC court filings.

In another vein, this morning, ETH was down 0.08% at $1,751. A mixed start to the day saw ETH rally to an early high of $1,753 before falling to a low of $1,744.

Regarding resistance and support levels, ETH must move through the $1,771 pivot to target the first major resistance level (R1) at $1,826. A return to $1,800 would signal a breakout session. However, betting stats and crypto news wires should support a bullish session.

In the event of a prolonged rally, the bulls would likely test the second primary resistance level (R2) at $1,900. The third primary resistance level (R3) sits at $2,029.

According to CryptoPredictions, the ETH price for today (11.06.2023) is forecast to be in the price range of $1,477.889 – $2,173.367. The Ethereum price is forecast to end today at $1,738.693.

By Audy Castaneda

Bitcoin price avoids 3-month lows as crypto dive clears USD 390 million

Marina Meza
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<strong>Bitcoin price avoids 3-month lows as crypto dive clears USD 390 million</strong>

Bitcoin (BTC) defied 3-month lows through June 10 as altcoins in individuals felt the heat from US regulatory pressure which is shown in a 1-hour candlestick chart of BTC/USD on Bitstamp developed by TradingView.

Altcoin Bloodbath as Exchanges Reshape the Landscape

Blockchain Marketplaces Professional and TradingView data showed that BTC/USD hit $25 483 on the day, down more than $1200 from the previous day’s high.

While showing weakness, Bitcoin was spared the fate of major altcoins, which reacted strongly to the delisting that accompanied U.S. legal action against major exchanges.

Trading app Robinhood announced that it would remove support for several cryptocurrencies named in the lawsuit against Binance and Coinbase by the U.S. Securities and Exchange Commission (SEC).

These stocks subsequently plummeted, with Cardano (ADA) and Solana (SOL) down nearly 25% in 24 hours at the time of writing.

“We periodically review the cryptocurrencies we offer at Robinhood,” the firm stated on its World Wide Web site.

Based on our latest review, we decided to end support for Cardano (ADA), Polygon (MATIC), and Solana (SOL) on June 27, 2023, at 6:59 p.m. ET.” This can be seen in a 1-day candlestick chart of ADA/USD (Coinbase) published by TradingView.

Kris Marszalek, CEO of Crypto.com, responded “As expected, after this week’s action on the regulatory front, we saw some exclusions that caused a market selloff”, he added “I guess we’re at the ‘then they fight you’ stage in the crypto adoption curve. Make no mistake: the crypto industry will get through this and emerge stronger than ever.”

Crypto.com confirmed that it would stop its U.S. institutional trading service on June 21st.

BTC Price’s 200-Week Trendline Support Fails

The events had a major impact on the basic capitalization of the cryptocurrency market, with Michaël van de Poppe, founder, and CEO of trading firm 8, warning that the worst could be yet to come.

As with BTC/USD, if the complete crypto cap were to lose its 200-week moving average (MA), this would constitute a clear bearish signal. Bitcoin’s moving average trend line currently stands at about $26,400.

Van de Poppe commented to Twitter Followers alongside a chart that “This is not the weekly candle you would like to see in Crypto’s full market cap.” Because losing the 200-week MA screams is a downtrend continuation.

The aforementioned is shown in an annotated chart of crypto market capitalization published by van de Poppe on his Twitter account.

Van de Poppe, like other popular traders, nonetheless disclosed an interest in altcoin buys at lower prices.

He was accompanied by Crypto Tony, who predicted “incredible inflows” on the table for 2023. These #Altcoin drops excite me too much in Crypto, as they really don’t come around that often.

Crypto Tony (@CryptoTony__) June 10, 2023, published “I have some incredible entries lined up later this year. I’ll share a few later today with you all and they are super realistic… WHO’S READY”

For existing traders, however, the damage was already done as long settlements totaled $320 million for June 10th, according to CoinGlass data, and the day isn’t over yet. While another $70 million in short positions also evaporated. A cryptocurrency settlements chart by CoinGlass is the graphic evidence of what has been explained.

By Marina Meza

Liquidation of the Jewelry Team, Massive Leaks in the Russian Federation, and Other Cybersecurity Events

Audy Castañeda
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Liquidation of the Jewelry Team, Massive Leaks in the Russian Federation, and Other Cybersecurity Events

Top news from the world of cybersecurity this week.

Here are the four most outstanding news about cybersecurity this week:

  • Ministry of the Interior of the Russian Federation, with the support of FAC.CT eliminated the Jewelry Team.
  • Unknown subjects leaked customer data from several large stores in the Russian Federation.
  • Fracturiser malware found in mods for Minecraft.
  • Researchers have created a robot to extract RAM content.

With the Support of FAC.CT, Ministry of the Interior of the Russian Federation Eliminated the Jewelry Team

Experts from the information security company FAC.CT discovered a group of scammers Jewelry Team, who stole money from the Russians through the popular BlaBlaCar travel companion matching service.

According to the investigation, since September 2021, members of the group have been posting fake ads on behalf of drivers. As a result, the scammers received not only a “deposit” in the amount of 500-1,500 rubles but also bank card data.

Criminal proceedings have been opened for embezzlement. The alleged leader of the Jewelry Team, as well as one of his accomplices, was sent to house arrest, while a third one is in jail.

Unsubs Leaked Customer Data from Several Large Stores in Russia

Within a week, user data from several large Russian stores appeared in the public domain, as reported by the Telegram channel “Information leaks”. The databases of the Auchan and Tvoy Dom retail chains were the first to leak online, with 7.8 million and more than 713,000 lines, respectively.

The attackers then leaked 2 to 4 million online dumps containing customer data from the Gloria Jeans clothing store chain, the Askona mattress store, and the book24.ru online bookstore.

Subsequently, they laid the foundations for the Bookvoed online bookstore (6.8 million lines), the TVOE online clothing store (2.2 million lines), the Leroy Merlin online store (5.1 million lines) and the web of culinary recipes “Eat at Home” (more than 535,000 lines).

The information was allegedly leaked by the attackers responsible for leaking Sberbank and other Russian companies. In the near future, they promised to publish new data.

Fracturiser Malware Found in Mods for Minecraft

Fracturiser, a self-propagating malware that attacks systems running Windows and Linux, has been found in various Minecraft mods. This was reported by representatives of the CurseForge platform. In turn, the creators of the Prism Launcher utility suggested that this is about exploiting a vulnerability on the Overwolf platform.

Users were urged to stop downloading and updating mods for the game immediately, as well as to change passwords for all accounts. To make it easier to find indicators of compromise, iCurseForge has published a guide to removing the infection.

Researchers Have Created a Robot to Extract the Contents of RAM

Red Balloon Security employees Ang Cui and Yuanzhe Wu have unveiled a cryomechanical robot capable of extracting the contents of DDR3 RAM at low temperatures.

This attack is called Cold Boot Attack and it is achieved due to the effect of saving data in dynamic and static RAM after power off. A device that costs less than $1,000 literally freezes a RAM chip. To read the data, the removed physical memory is placed in the FPGA.

The researchers believe that if they use a more expensive FPGA-based memory read platform (costing around $10,000), their method is applicable to sophisticated attacks on DDR4 and DDR5

By Audy Castaneda

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