Why is mining more relevant today than ever, and how does the global economic crisis and coronavirus affect it?

Read our today's article about it!

https://medium.com/ecos-am/pros-and-cons-of-cryptocurrency-mining-in-2020-58ef5999460

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Hi guys, check our new rates for the mining equipment! They have been decreased for now! ��

You can also find a new mining calculator which would allow you to see the estimated profit of your device over time! ��

P.S. Get 100 USD cashback to your account balance with every device purchase. The offer is available only untill 23:59 April,12.

� For those, who have no clue what to do on quarantine, we've prepared a list of the top 5 films about blockchain and cryptocurrencies!

Enjoy it! �

https://medium.com/ecos-am/the-top-5-movies-about-blockchain-and-digital-currency-398b5ae0f1dd

What application do you use to call friends and colleagues during quarantine?

Surely it's Zoom! The number it’s users increased to 200 million in March 2020.

But did you know that recently Elon Musk prohibited SpaceX employees from using Zoom because of “significant security and privacy issues”? He recommended to use email and phones instead of it. And he is not the only one who did so. NASA also forbade its employees from using Zoom for the same reasons.

Why did it happen?

In mid-March, when the number of users of the service started to grow very quickly, it seemed that the only problem could be the deterioration in the functioning of the application. But, as it turned out, the problems were much more serious. At first it became known that Zoom leaked users data, and then - it became clear that the application is easy to crack. In particular, Singapore authorities banned schools from holding school lessons in Zoom, after one of the lessons was cracked by hackers.

That was nice while it lasted.

As the coronavirus plunged the world into chaos, forcing entire states to isolate itselfs, Zoom has become the most important communication tool. The service became so popular that it took the first place among all the free apps in the App Store, beating Google, WhatsApp and even TikTok.

The financial component has also been affected by the popularity. The company’s stock were lifted on 143% since the IPO and on 44% over the past month. The company's capitalization reached $ 42 billion, and the fortune of Zoom’s CEO, Eric Yuan, reached $ 5.5 billion.

Is it safe to use Zoom now?

At the moment, it is difficult to say whether it is worth using the Zoom application in case of you don’t want to lose your data or make public your communication with other person. But the CEO of Zoom, Eric Yuan, claims that he is already making every effort to ensure the high level of application security.

ECOS uses additional security features to protect user data, meets the PSI DSS and GDPR requirements and ensures that customers' personal data cannot be leaked. We advise you to use the products of only those companies that you really trust.

And where to get them, these accurate forecasts? In the world of cryptocurrencies, no specifics, so we all work for the future)

The general director of the Social Capital venture company, Chamat Palihapitiya, considered that Bitcoin will soon be able to exceed the value of $ 1 million.

In his opinion, the BTC rate will grow, especially against a background of news that the US Federal Reserve plans to print $ 6 trillion. According to Palihapitiya, these circumstances would make new investors draw attention on bitcoin and other cryptocurrencies, which are independent from decisions of central banks.

At the same time, the billionaire said that the growth will not happen immediately: “If you say that cryptocurrencies will replace fiat money now, then just look at the volatility of the US dollar. It’s very difficult to replace the dollar with an asset which volatility is an order of magnitude longer.” However, such an evaluation assumes that those who hold Bitcoin will be in a favorable position at the appropriate time.

According to Palihapitiya,bitcoin may become a global reserve currency in the future, especially if central banks will continue to forward to the same policy and print money at the time of any economic crisis. However, he estimated that this is likely to happen "over the next 10 years."

This is not the first time the billionaire supports cryptocurrencies. In the middle of 2019, the investor told that Bitcoin is the best risk-hedging tool.

Chamat Palihapitiya, whose net worth is approximately $ 1 billion, is the founder and CEO of Social Capital. Palihapitiya was one of the first leaders of Facebook, joined the company in 2007 and left it in 2011. He is a shareholder and a member of the board of directors of Golden State Warriors.

Despite the global economic crisis and problems related to it, the cryptocurrency mining industry is fully running. The future of digital currencies is filled with profitable opportunities for individuals and corporations, which are interested in mining or buying and selling cryptocurrencies. It means that you should not wait for the moment when the cost of bitcoin exceeds $ 10,000 to buy your first mining equipment. You must do it now!

Of course, you should be aware that you cannot achieve the greatest results using outdated equipment. Bitcoin mining is a technically difficult process, which requires an energy-intensive machine that can generate the power necessary for complex operations.

What does this mean? It means that you need to always be aware of the latest trends in the field of cryptocurrency mining in order to have an understanding of what technology will really be profitable, will be able to increase your investments and will not become obsolete in the near future.

We decided to help you with this and prepared a short list of the best mining equipment items for everyone in 2020!

�Antminer T17 38Th/s - $998

Antminer T17 uses a second-generation 7nm chip and designed for mining cryptocurrencies based on the SHA256 algorithm, such as Bitcoin and Bitcoin Cash.

The device has a hash rate of up to 38 TH / s and has an energy efficiency of 55 J / TH. According to Bitmain, the T17 boasts the same productivity benefits as the S17.

“The Antminer T17 utilizes dual tube heat dissipation technology to reduce wind resistance. The space between the air inlet to the air outlet has been reduced by 50%, improving heat dissipation which further enhances the long-term operation of the miner and reduce maintenance costs for users” - writes Bitmain.

�Antminer T17e 47Th/s - $1299

Antminer T17e, like T17, uses a second-generation 7nm chip and designed for mining cryptocurrencies using the SHA256 algorithm. The device is capable of generating a hash rate of up to 47 TH / s and an energy efficiency of 55 J / TH.

�Antminer S17+ 64TH/s - $2197

The most expensive item in our list today - Antminer S17 + is made in the traditional manner for the latest models of the manufacturer - as two ASICs installed one on top of another with an integrated power unit. The model allows you to mine cryptocurrencies using the SHA-256 algorithm. The device is capable of generating a hash rate of up to 64 TH / s and has an energy efficiency of 55 J / TH.

You decide what to choose! Do not forget that you can not only purchase the item from us, but also to co-locate it on our hosting in the mountains of Armenia, without leaving your home. You can find all three models on our website.

Stay at home and mine with [b]ECOS![/b]

It is clear that no one will give you accurate forecasts, but there are still certain indicators that characterize and predict the market.

� Hi, this is a “tips for beginners” section! After we published the material about the best films about cryptocurrencies , we received messages with a request to advice on similar books.

We listened to our subscribers and prepared a short list of books about blockchain and bitcoin, which will fill your head with the necessary knowledge and give an initial understanding of how this technology works, why it was created and why it can change the human idea of money.

� ‘Mastering Bitcoin For Dummies’

If you are just taking interest in this topic, this book is great for beginning! Its author, Alan Norman, writes that Bitcoin marked the beginning of a new era. The revolutionary significance of bitcoin is that people have realized the value of digital money. The whole world was swept by a wave of interest in digital currency. Bitcoin rapidly changed the very essence of money, and this book tells in simple language how it happened.

� “How Money Got Free”

“How Money Got Free” by Brian Patrick Echo is the most detailed and fascinating story about what the new currency is and how it is changing the economy. This book is a compulsory for anyone who wants to understand how Bitcoin and all digital currencies are arranged. Furthermore, this book talks about all aspects of the mysterious history of bitcoin: mistakes , the secret of Satoshi Nakamoto’s personality, battles in the courts and various the vicissitudes of fate, without which not a single cryptocurrency based on the blockchain could do.

� “Digital Gold”

Nathaniel Popper’s book, Digital Gold, was one of the first. where the stories of bitcoin and how blockchain and digital currencies changed the world were told. The author paid special attention to the figure of the mysterious bitcoin founder Satoshi Nakamoto, talking with many prominent people from the time of the bitcoin formation. It shows the history of bitcoin through the eyes of several famous figures of this industry, who stood at the origins of this revolutionary technology. Among them are millionaires from Asia and South Africa, and also Winklevoss twins, who created the Gemini exchange service.

in theory halving should make coin mining harder, but I recently saw an opinion that the difficulty of mining fell by 15%, which means that the promised halving for March is delayed.

Yuval Noah Harari, a professor of history and author of international bestsellers shared his opinion on how our world will change after coronavirus in a recently published article that appeared in The Financial Times.

According to Harari, there are serious concerns about the fact that the governments of many countries have introduced new means of monitoring people. For example, in China the government services scan people’s smartphones, use millions of face-recognition cameras and force people to report temperature and health conditions, resulting in the appearance of applications which warn citizens about their proximity to infected patients.

It would seem that there is nothing new in that and such an approach will help many countries to overcome the epidemic faster, but the professor of history believes that’s not the point. “When your finger touched the screen of your smartphone and clicked on a link, the government wanted to know what exactly your finger was clicking on. But with coronavirus, the focus of interest shifts. Now the government wants to know the temperature of your finger and the blood-pressure under its skin.”- the author wrote.

What would this lead to?

According to Harari, “this would give legitimacy to a terrifying new surveillance system.” In his view, the technology that identifies a cough could also identify laughter, and if corporations and governments start to collect biometric data, they can get to know us much better. The writer claims that this can lead to the fact that governments will not only predict our feelings, but also manipulate our minds and impose goods or political decisions on us.

Blockchain is a key.

In his article, Harari does not say what would help humanity to get rid of such observation and manipulations, but obviously the only technology that has the power to do so is blockchain. At some point, humanity felt an urgent need for creating a decentralized financial system - that is how cryptocurrency appeared. And today we can easily imagine that if blockchain would be extended to other areas of our lives, including healthcare, this will help not only to increase the efficiency of fight against coronavirus, but also to ensure the inviolability of everyone’s personal data.

ECOS uses additional security features to protect user data, meets the PSI DSS and GDPR requirements and ensures that customers' personal data cannot be leaked. We advise you to use the products of only those companies that you really trust.

We promised to tell you how to invest your time, while you're at home.

We promised - we tell!

https://medium.com/@ecosmining/top-5-ways-to-make-money-on-cryptocurrency-during-quarantine-6b558802279e

Xente:
in theory halving should make coin mining harder, but I recently saw an opinion that the difficulty of mining fell by 15%, which means that the promised halving for March is delayed.

need to talk to you bro, how can I reach you?

Last week, WTI (Western Texas Intermediate) oil prices fell below zero for the first time in history.

� No one needs oil anymore?

No, this is not the case. You need to know that the only one type of WTI contract has broke through a zero mark - May Futures (CLK20). It was a delivery futures contract - concluded and prepaid for the delivery of goods in the future.

The point is such futures are convenient for stock-market speculation. Traders usually deal with them when they are confident that they will be able to buy and resell oil under the contract before its execution time. In other words, May futures for WTI is a contract for real oil, which had to be delivered or accepted during May.

� What went wrong?

Most of the US oil storage facilities are concentrated in a small American town Cushing, Oklahoma. WTI oil futures are attached to supplies to this city. The problem is that Cushing's oil storage facilities were 67% full, thus some of the reservoirs are reserved and cannot be used for stock-exchange’s contracts. It turned out that it was practically impossible to place real oil at oil storage facilities by the deadline.

� Why did the price turned negative?

Traders who had contracts on their hands were ready even to pay someone to get rid of them. Because in other case, they would have to do something, what they are not able to do - to accept the real oil.

� What was the result?

Due to the fact that it happened for the first time, it caused panic on the market, which affected the June futures contract for WTI - traders foresee the same problems with it. Experts say that the oil market is also capable of other unpleasant surprises. Oil consumption decreased by 30% worldwide, but oil workers don’t want to reduce production and preserve the oil wells.

� What happens then?

Obviously, the world is changing and oil will no longer be in demand after some time. Humanity will switch to alternative sources of fuel, which would affect the world of finance, too and cryptocurrencies would replace fiat money. Many experts already say that investing in Bitcoin now is one of the best ways to make money in the future. You can start doing it now with ECOS.

These indicators do not mean anything to me, it’s unlikely it will have a big impact on profit, but it's only my thoughts, will see how it goes)

� Bitcoin just broke through an important psychological mark of $ 8,000 and is most likely to continue growing. We recently told you about the reasons for the possible increase in the cost of cryptocurrency №1. Let’s do that again!

https://medium.com/ecos-am/bitcoin-halving-2020-what-to-expect-110b8003f52a

You have probably heard that China plans to launch a national digital currency. What do you need to know about this?

The Chinese national cryptocurrency will be called DC/EP - Digital Currency Electronic Payment. It will work on a blockchain platform called BSN, which was launched a few days ago on April 25th.

The development of the national Chinese cryptocurrency began in 2014. The date of launch for the digital yuan has not yet been confirmed by the Central Bank, but some sources report about the full launch in mid-2021.

According to information taken from open sources, the crypto yuan will be convenient for the use - for example, in addition to the standard functions (receiving and sending payments), the ‘touch and touch’ option will be also available - in order to make a transfer, user’s smartphone will just need to come into contact with another device.

What’s wrong with that?

The point is that the crypto-yuan blockchain cannot be decentralized. This deprives cryptocurrency of one of the most important advantages - anonymity. According to representatives of the Central Bank, China generally considers its own cryptocurrency as a tool of countering new and existing digital currencies.

At the moment, it is difficult to say exactly how the launch of the first ever national cryptocurrency would affect on Bitcoin and other decentralized coins, but one thing is certain - governments have started to pay attention on digital currencies - it means that we're heading the right way!

� Do not miss out a new round of #Chainbusters online discussion series today! The theme of the meeting is Bitcoin Halving.

On: 2nd May 2020, at 09:30 UTC
Gates open: 09:00 UTC

The team comprises of:

✅ Dr. Marco Krohn CEO & CoFounder, Genesis Group / Genesis Mining
- One of the largest crypto mining groups in the world. Will join in from the UK

✅ Ilya Goldberg, Managing Partner, ECOS.am
– Runs an SEZ and Mining Farm in Armenia. Leads Blockchain and crypto evangelism in Russia and Armenia. Joining in from Moscow

✅ David Marshall, Partner, TradeDog
– Top class global analysis on cryptocurrencies. Holding fort from the UK

✅ Sathvik Vishwanath, Co-Founder & CEO, Unocoin
– Well, who does not know him in India? Has seen 2 bitcoin halvings.

✅ Alex Lam, CEO, RockX
- Early mining adopter. Has seen 2 bitcoin halvings and the movement of Bitcoin in China. Will be with us all the way from Shenzen, China

� Discussion Lead: Pavel Bains, CEO, Bluzelle, Singapore

In 2018, the Russian entrepreneur and creator of the Telegram cross-platform messenger, Pavel Durov, announced the creation of TON blockchain platform and the Gram cryptocurrency. It seemed that this project would be able to outperform the digital currency market. How are things going with TON and Gram right now?

To begin with, it should be reminded that Pavel Durov managed to attract more than $1.7 billion of investments after two rounds of ICO, according to unofficial data. The company has initially planned to conduct a public ICO, but then changed its mind and chose investors on its own.

WorldPress creator Matt Mullenweg, Foursquare co-founder Navin Selvadurai and fashion billionaire Silas Chou are among those who invested in the project. It is known that large Russian businessmen also invested in TON - Qiwi founder Sergey Solonin, ex-co-owner of Wimm-Bill-Dann David Yakobashvili and billionaire Roman Abramovich, who invested about $300 million.

Initially, the blockchain platform and cryptocurrency was planned to be launched before October 31, 2019, according to its White Paper. But on October 12, the U.S. Securities and Exchange Commission (SEC) reported about the filing a complaint against Telegram Group Inc and obtain a ban on Gram cryptocurrency release through a court later. Why did it happen? The Durov team has not registered Gram tokens as securities. In connection with the lawsuit, the launch of TON was delayed until the spring of 2020.

Due to the fact that permission to launch TON was not received until May 1, the Telegram team sent investors a letter, the contents of which were cited by The Bell. It transpires from the file that investors were offered several options of returning the invested funds. The first option is to return 72% of the investment size. The second - if the approval for issuing the cryptocurrency is not received before April 30, 2021, 110% of the initial investments will be returned to each investor. According to The Bell, the Telegram team asked investors to give an answer before the end of this week.

But, according to The Bell, the Telegram team just sent another letter to American investors in which they say that they would be able to return only 72% of the invested funds "due to the uncertain attitude of regulatory authorities in the United States."

If you are thinking about investing in cryptocurrency, it is not necessary to wait for the release of Gram tokens. You can invest in bitcoin mining and start earning real income right now with ECOS!

⚡️ According to Dan Morehead, Pantera Capital cryptocurrency hedge fund CEO, the Bitcoin exchange rate will break above $100,000 in August 2021.

In a letter to investors published on Medium, Morehead said that, historically, the price of BTC reached its lowest level 459 days before the halving, and then after about 446 days it rose to its maximum values.

� «In this cycle, the market did in fact trough 514 days before the halving. If history were to repeat itself, bitcoin would peak in August 2021» - the expert explained.

According to Pantera Capital CEO, such growth will be associated with limited supply. «The second having decreased supply only one-third as much as the first. Very interestingly, it had exactly one-third the price impact. The reduction in supply is only 40% as great as in 2016. If this relationship holds, that would imply about 40% as much price impulse — bitcoin would peak at $115,212 BTC.» - he explained.

In the published article, Morehead also recalled that his company had predicted a growth in the Bitcoin rate to $5,000 when it was worth $65.

Forbes experts also partly confirmed the businessman’s words, after reviewing the history of the BTC exchange rate against a reduction of a block reward reduction. According to them, a new class of bitcoin millionaires may emerge after the halving.

� It should be reminded, that yesterday the BTC hashrate updated its maximum values. Today, №1 cryptocurrency is trading at $9911, according to Bitstamp.

It feels like everyone has contracts for several thousand dollars here))) Yes, halving implies decrease in revenue, but given the growth in the cost of bitcoin, there will not be much difference in profit, except in the direction of its increase.

⏰ We have a few hours left before the halving 2020!

Let’s remember the most important events that have happened since the previous one.

https://medium.com/@ecosmining/halving-is-coming-today-40ddb7ce4552

Wow! There is so much news around Bitcoin, halving and mining, that my head is spinning. How to relax? We’ll tell you!

✅ Meditate

We are all well aware that the best way to relax is a meditation. But there are two important points that should be considered: firstly, it is very important to know how to do it right; and secondly, you need to believe in what you are doing (as with any other activity!) in order to achieve maximum results. Find a place where no one will bother you, sit comfortably, keep your back straight and try not to think about anything.

✅ Take a walk

Many governments are already starting to lift restrictions embedded because of the coronavirus. Therefore, if you have a park near your house (even if you don’t) - go out and walk, it will help you to switch off the brain. Or you can even go for a jog! It is known that brain releases endorphins during the process of running. This will help you to improve the mood and relax!

✅ Take a warm bath

It is known that water has a calming effect, so a warm bath will help you to relieve physical and emotional fatigue. But do not take gadgets with you - you need to take a break from it! Add essential oils, foam or bath salt to the water - or better all of this. Doctors do not recommend to take a bath for longer than 30 minutes, but this time is enough to relax!

Well, if you are not tired of the flow of information caused by halving, keep monitoring our social networks! Soon we will tell you what will happen to Bitcoin after the halving, and how it would affect the mining sphere.

The Bitcoin halving took place on Monday, but conversations about the profitability of mining will not subside for a long time - or rather, until the rate of the №1 cryptocurrency doubles in value. What equipment remains profitable after halving? What devices should you count on to continue earning? We know the answers!

� Antminer T17+

This is a relatively recent model, which was announced at the end of 2019. Today, it is better to consider the “plus” version (64 TH/s). This model costs 20% less than the Antminer S17 Pro, but the difference in profitability is within a couple of dollars. What about the shortcomings? This device requires more power, which means that it will be unprofitable to use this device at home or in a garage. With low-cost electricity, T17 + will remain cost-effective for a long time.

� Antminer S17+

Antminer S17 +, which was available on sale at the end of the past - at the beginning of this year, is made in the traditional manner for the latest models of the manufacturer - as two ASICs installed one on top of another with an integrated power unit. The 76 TH/s Bitmain Antminer model can still be profitable even with the high electricity prices, but if you have cheaper or completely free electricity at your disposal, you can get the most out of it.

� Antminer S19

Bitmain announced this device at the end of winter, and it immediately became clear that the S19 is a monster with incredible characteristics. A Hong Kong mining equipment retailer, CryptoMinersBro, called Antminer S19 "the most cost-effective bitcoin mining miner ever." Judge for yourselves - in comparison with the previous model range, not only the device hash rate (the declared hash rate of S19 is 95 TH/s) has increased, but also the energy efficiency, which has grown by 26%. The device is not yet on sale, too, but it is available on pre-order on the ECOS website!

Yes, the reward for mining has decreased by half, but it is worth considering that the mining complexity should also fall in the near future, because miners using outdated equipment, such as Antminer S9, will begin to leave the network one after another. In addition, we should expect an increase in the Bitcoin exchange rate, since a decrease in the reward for the mined block inevitably led to an increase in the value of the №1 cryptocurrency. Therefore, if you use the above-mentioned devices, your business will remain profitable for a long time.

By the way, all the presented models are available for pre-order in ECOS and you can purchase them by making a pre-order request. Or you can purchase equipment from stock right on our website and place it on a remote server in the mountains of Armenia without leaving your home.

The question is: what should you do in order not to lose money on mining after the halving? The answer “to stop mining” is not right at all! Why? Because, as we expect, the bitcoin price will grow soon, and the complexity of the network will decrease. And if this happens, then the price of equipment will skyrocket. If you want to invest in mining hardware today, here are some tips for you. Following them, you will definitely not lose your money.

Do not buy obsolete equipment

Antminer S9 price will fall soon, but even if it falls by 50%, it would no longer be a good investment. Unfortunately, these devices are no longer cost-effective after the halving. Yesterday we told you about the devices that are available for pre-order on our website. Using them, you can still earn good money even after the block reward reduction.

Do not buy used equipment

According to our forecasts, the price of bitcoin will grow soon, and this has always led to the emergence of new types of fraud. In order not to lose your money, buy equipment in official supplier stores, such as ECOS. By the way, our technical support is available 24/7, so if you need any help with the selection and installation of equipment, you came to the right place. Well, if you do decide to buy an used ASIC, pay special attention to the serial numbers on its case and hash boards, as well as to the stickers - if they are fresh and neat, it is likely that the device was in use.

Cut mining costs

The less money you spend on electricity, the more you earn. Considering that earnings have already halved, the reduction of bitcoin mining costs is the main key to continue to get profits. In this case, it may be useful to draw attention to mining hotels, since they have better connection tariffs compared to local ones. Why? It's simple - mining hotels are large consumers and they usually have special conditions from generating companies, as ECOS does. Being an operator and resident of the Free Economic Zone, the company has 0 tax rates and thus offers really comfortable hosting conditions to its clients.

It's not a secret that our employees are high-level professionals in their area. Starting from today, we are launching “ECOS inside”, where we will tell you about those people who do their best to help our wonderful customers get every-day profit!

Today we are going to tell you about our community-manager, Anna Komashko.

� About the achievements

I have studied at Tomsk Polytechnic University, ranked №7 in the list of the best universities in Russia. In 2007 i got a red diploma of linguistic science.

� Before ECOS

I’ve worked for 8 years at the British Standards Institution. During my work i was promoted from an assistant manager to the head of the sales department of the Russian office. I liked the process of selling, but always wanted to know more about the tools, which help to promote the product and to get leads. Therefore, I began studying digital marketing in 2017.

� About ECOS

After the graduation, I wanted to get into an interesting international project with great prospects, which ECOS turned out to be. It allowed me not only to apply the previously acquired communication skills with clients, but also to try myself as a community manager, responsible for resolving any problems and issues that our users face during the process of interacting with ECOS. I think that helping people is a very good mission! Moreover, I like that in ECOS we have young, friendly and innovative team and cool office with a nice view from 18th floor.

� The fact about myself

Before working at ECOS, i used to treat cryptocurrencies as something unrealistic and fictional, but during my work, i realized that i was absolutely wrong. Now I try to convey this knowledge to everyone.

� About my favorite place

Rocky mountains (the USA). I met a bear there for the first time in my life! But it’s not the reason why i love this place. There you will find really beautiful untouched nature and peace.

CryptoBo:
It feels like everyone has contracts for several thousand dollars here))) Yes, halving implies decrease in revenue, but given the growth in the cost of bitcoin, there will not be much difference in profit, except in the direction of its increase.

Does it make any difference what contracts we have? I just want to understand everything that is happening, people invest money for a reason, right?