Private Equity Moris Beracha Wuani

By Paul Lilly It wastes energy and pollutes the environment, China says. The government agency that is in charge of China's macroeconomic planning is recommending new rules that would effectively ban cryptocurrency mining in the country, or at least make it very difficult, provided the measures are actually enforced. China's National Development and Reform Commission (NDRC) outlined the proposed decree in a draft amendment to the Catalog for Guiding Industrial Restructure, as reported by South China Morning Post . It's sort of an outline of economic policy that groups industrial sectors into three main categories: ones the agency wishes to encourage, restrict, or eliminate. The amendment recommends eliminating "virtual currency mining, such as the production process of Bitcoin" right away. Residents in China have until May 7 to submit feedback on the draft proposal, sometime after which the rules would be finalized (or scrapped). B...

  By Moris Beracha .- Different companies that manufacture computer hardware and electronic components have launched campaigns to offer their users, a kind of “passive” mining that will allow them to make profits in cryptocurrencies with very little effort. The decision is basically due to the resounding fall in the prices of the main digital currencies, which have hit hard the assets of these companies. Given this reality, the Taiwanese company Asus, has decided to take action on the matter, specifying an alliance with Quantumcloud to develop a software that allows users of its gaming equipment, to mine cryptocurrencies while our GPU is at rest. To date the Asian technology giant has not offered details of how this tool will work and they have not explained which cryptocurrencies can be mined through it. Although the Quantumcloud website ensures that users of their application “will not get rich quickly,” they argue if they can get some money w...

By Moris Beracha .- A large number of companies that have significantly invested in the production of cryptocurrency mining hardware may be throwing in the towel, driven by the stagnation of the market. Some portals such as Amazon have had to sell mining machines, video cards, and power sources, among other equipment, at discounted prices to exhaust the existence of these equipment and of course avoid excess of inventory. In early 2018, these products were sold at profitable prices, but the sharp drop in prices of Bitcoin, Ethereum and other cryptocurrencies led to a major beating in prices for these products. In a press release, the Japanese consortium GMO Internet Inc., a competitive cryptocurrency mining hardware manufacturer in the market, announced its decision to cease operations in its cryptocurrency mining business. The company, specializing in Internet infrastructure, reported that the losses of its business related to cryptocurrency mining...

By Moris Beracha .- Many people who are not familiar with the technology and the world of cryptocurrencies can believe it is very expensive to acquire a token; however, mechanisms such as mobile mining can help you obtain benefits through smartphones. Users of computers with Android operating systems can download mining applications from their store called Google Play, which simply work with leaving the mobile device on and connected to a Wi-Fi network. Some of these apps, which are usually free, can fulfill their function perfectly, being able to mine cryptocurrencies from a cell phone, but it is very important to verify very well who is the programmer of the app that will be installed, since many scammers are infecting with malwares, some of these programs and the economic benefits can shift to another side. For iPhone and iPad users, unfortunately there is bad news, because there are virtually no applications that help exploit cryptocurrencies sinc...

By Moris Beracha .-  Cryptocurrency mining is a process that exceeds electricity consumption. This is known by bitcoin mining companies and the authorities of the different countries of the world and therefore they have set to work, in order to drastically reduce the amount of energy to be used. An example of this reality includes Soluna, a Bitcoin-mining company, which plans to start the construction of a 36 megawatt wind farm in Morocco in January 2019. According to a company statement, southern Morocco enjoys the ideal conditions to produce wind energy, which will help relieve the country’s electricity system and deem cryptocurrency mining much more comfortable. Soluna acquired the rights to a 37,000 acres of land, with over 900 MW of wind power potential available for development, so it does not rule out the storage of the remaining energy in devices as soon as wheather conditions are not fully effective. Likewise, the Brookstone Partne...

By Moris Beracha .-   Cryptocurrency mining is a process that exceeds electricity consumption. This is known by bitcoin mining companies and the authorities of the different countries of the world and therefore they have set to work, in order to drastically reduce the amount of energy to be used. An example of this reality includes Soluna, a Bitcoin-mining company, which plans to start the construction of a 36 megawatt wind farm in Morocco in January 2019. According to a company statement, southern Morocco enjoys the ideal conditions to produce wind energy, which will help relieve the country’s electricity system and deem cryptocurrency mining much more comfortable. Soluna acquired the rights to a 37,000 acres of land, with over 900 MW of wind power potential available for development, so it does not rule out the storage of the remaining energy in devices as soon as wheather conditions are not fully effective. Likewise, the Brookstone Part...

By Moris Beracha.-  At last month’s CES, in Las Vegas, Kodak released KashMiner, a bitcoin mining machine. However, the launch was not excluded from controversy, thanks to the company’s intention to take part of what the miner produces with it. According to the machine’s documentation, what it really does is paying for a two-year lease, for which it will have to be paid a large sum of money for the device, as well as half of the profits gotten with it. After paying $ 3,400, a 24-month contract is signed. In those two years, companies calculate bitcoins worth around $ 375 can be produced. The calculations were made on the basis that cryptocurrency maintains a value of $ 14,000. The profit will be entered into a joint Coinbase account, and the user will keep half of what it generates. As they have claimed, the miner consumes more or less the same electricity that we would spend when using a hairdryer throughout the day. https://privateequitymorisberachawuani.blogspo...

By Moris Beracha.-  . Mexican senators have passed a bill that would regulate its financial sector, better known as the Fintech Law, and is pending confirmation in the Chamber of Deputies. The bill mainly seeks to regulate cryptocurrencies to deter money laundering or fraud. The Bank of Mexico would strictly supervise by determining which virtual assets can be operated in the Mexican territory and every user would be obliged to verify that the money that is transferred to cryptocurrency does not have an illegal origin. However, Bitcoin was designed to avoid operation influenced by central banks and governments. So, how could the Bank of Mexico monitor a currency that seeks to avoid regulations? The bill does not interfere with the operations of the currency since the central bank does not recognize virtual assets as legal tender and does not support the coin value, as it does with the peso. "[The law] portrays a standard line for the industry, which has a regulatory...

By Moris Beracha.-  Twins Cameron and Tyler Winklevoss became known in 2008 when they were in dispute with Mark Zuckerberg for the original idea of Facebook. After a lawsuit filed in a United States court, the twins with BA degrees in Harvard and Olympians reached a settlement agreement valued at about $ 62 million. The Winklevoss twins, invested part of the money they won, about $ 11 million, into Bitcoins in 2013. By that year, the digital currency was trading at just $ 120 a coin. In 2017, the bitcoin exceeded its value at $ 15,000. The 11 million became a holding to be worth approximately $ 1,300 million in December last year, when the value per unit reached a price of $ 18,500. Cameron and Tyler became the most prominent billionaires by amassing a bitcoin fortune. More than a few people in Silicon Valley saw that decision made by the Winklevoss in 2013 as naive. Some still consider it that way. "We've turned that laughter and ridicule into oxygen," Tyler ...

Moris Beracha.-  Graphics cards have become the most important tool for bitcoin miners. These graphics cards or accelerators are the most valuable mining units to create digital currencies or cryptocurrencies, especially bitcoin, which could hit $ 11,000 per token. "When a graphic card arrives, it is immediately purchased and tourists. Especially Russians, are looking for them. If you have 20 in stock, 20 are taken," said a salesman from the Life information technology chain in Barcelona, Spain. Any card that is in stock is purchased. If you don’t have the model you are looking for, superior cards will be taken by tourists from Eastern Europe, because it is not available," he said. The AMD Radeon RXs are the most purchased graphics cards. A model can cost over $ 250 when most of them surpass $400. The big losers are the "gamers", who usually 'settle' with a card, but, as powerful as possible. "Minar bitcoins is no longer profitable sin...

Moris Beracha.-  The cryptocurrency and its rise are one of the topics discussed by politicians, economists and businessmen at Davos, after it dropped 30% of its value. The Prime Minister of the United Kingdom, Theresa May, and the Secretary of the Treasury of the United States Steve Mnuchin were the first to criticize the digital currency. Also, funds were blocked by the main exchange in Japan. Coincheck kept his clients informed of the situation through its blog. First, it restricted the purchase and sale of NEM, the cryptocurrency of the New Economic Movement. Then, any currency withdrawal was blocked from its platform, including the Japanese Yen, according to news reported by La República, in Colombia. "My No. 1 focus in cryptocurrencies, whether digital currencies or bitcoin or other things, is that we want to make sure they’re not used for illicit activities," Mnuchin said in Davos. British president Theresa May agrees with Mnuchin and called to look at ...

Moris Beracha.-  Currently, South Korea is the world’s third country in bitcoin trading, after Japan and the United States. However, the government moves to ban these transactions in an effort to limit speculative investing in cryptocurrency markets. There are "great concerns" regarding virtual currencies, according to national authorities. Justice Minister Park Sang-ki said that they are preparing "a bill to ban cryptocurrency trading through exchanges." Financial Services Commission Chairman Choi Jong-ku said that "virtual currencies are currently unable to function as a means of payment and it is being used for illegal purposes, like money laundering, scams and fraudulent investor operations." This is why the Asian nation is preparing a new legislation that would include a ban on anonymous digital currency accounts and thus grant the opportunity to regulatory agents to close exchanges if deemed necessary. The law will also prohibit banks fr...

Moris Beracha.-  The Customs Service of the Republic of Korea has uncovered cryptocurrency crimes worth about $ 600 million, which includes illegal foreign exchange trading. According to a statement released on its website, the institution said it seeks to keep "our society safer from illegal foreign transactions". Reports on the incidents mention South Korean investors gobbling up almost $ 2 billion won in cryptocurrencies (about $ 594.35 million). Supposedly, tokens and coins were sent abroad through "virtual wallets," only to be brought back in the form of fiat currencies "which amount to unrecorded capital outflows." The statement continues, "Customs service has been closely looking at illegal foreign exchange trading using cryptocurrency as part of the government's task force." Among other breaches, Customs said there were also cases where investors in Japan sent their yen worth 53.7 billion won (the official currency of Sout...

Moris Beracha.-  Getting bitcoins requires “mining”. This action does not involve a physical digging, since bitcoins are digital. However, it consumes more electricity. According to figures from Morgan Stanley and Alex de Vries, an economist who tracks the use of energy in the industry, the computer power needed to create each digital token consumes at least as much electricity as the average American household burns through in two years. On the other hand, the entire network supporting Ethereum gobbles up another country’s worth of electricity each day. Also, De Vries estimated that each bitcoin transaction currently requires 80,000 times more electricity to process than each Visa credit card transaction. Vitalik Buterin, the creator of Ethereum, is not indifferent to this "investment". The Russian programmer is leading an experiment with a more energy-efficient way to create tokens. "I would personally feel very unhappy if my main contribution to t...