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HTC officially announces a new blockchain-powered phone

Posted: Wed May 16, 2018 9:44 am
by burger2227
HTC officially announces a new blockchain-powered phone
To start with, the Exodus phone will have support for bitcoin, ethereum, and other major networks, with more partnerships expected to come later on. HTC envisions a native blockchain network that uses Exodus phones as nodes that support cryptocurrency trading between users. HTC is also reportedly considering allowing people to purchase the Exodus phone with cryptocurrency. No price has been set yet for the phone.

HTC’s Exodus might be the world’s second blockchain-powered phone. The first one, created by Sirin Labs, called Finney, is a phone that lets people store and use digital currencies while skipping transaction fees. It costs $1,000.
Bet those transaction fees will come around...for now they will just steal your GB's...

Re: HTC officially announces a new blockchain-powered phone

Posted: Thu May 17, 2018 7:23 am
by burger2227
Bitcoin estimated to use half a percent of the world's electric energy by end of 2018
Estimates, based in economics, put the minimum current usage of the Bitcoin network at 2.55 gigawatts, which means it uses almost as much electricity as Ireland. A single transaction uses as much electricity as an average household in the Netherlands uses in a month. By the end of this year, he predicts the network could be using as much as 7.7 gigawatts—as much as Austria and half of a percent of the world's total consumption. "To me, half a percent is already quite shocking. It's an extreme difference compared to the regular financial system, and this increasing electricity demand is definitely not going to help us reach our climate goals," he says. If the price of Bitcoin continues to increase the way some experts have predicted, de Vries believes the network could someday consume 5% of the world's electricity. "That would be quite bad."

Bitcoin is dependent on computers that time-stamp transactions into an ongoing chain to prevent duplicate spending of coins. Computers in the network perform calculations continuously, competing for the chance, once every ten minutes, to be appointed to create the next block of transactions in the chain. The user of the computer that wins is awarded 12.5 new coins—a process known as "mining" Bitcoin. But all the time, even the users that don't win are expending computing power. "You are generating numbers the whole time and the machines you're using for that use electricity. But if you want to get a bigger slice of the pie, you need to increase your computing power. So there's a big incentive for people to increase how much they're spending on electricity and on machines," de Vries says.
The SEC made a fake cryptocurrency to show you how ICO scams work
We've recently seen fraudsters pretending to be involved in blockchain technology, initial coin offerings and crypto-currencies -- when really they are simply operating scams designed to take investors' hard-earned money," says the site. "We created the bogus site as an educational tool to alert investors to possible fraud involving digital assets like crypto-currencies and coin offerings." The agency even put together a white paper about its fake coin.

The site then goes on to describe a handful of red flags that signal a scam including claims of high, guaranteed returns, celebrity endorsements, claims of SEC compliance, ability to invest with a credit card and pump and dump schemes. Each of those elements were included in the fake HoweyCoin site and the SEC uses them to explain why they should alert potential investors. In regards to pumping and dumping, the SEC site says, "In a pump and dump scheme, fraudsters typically spread false or misleading information to create a buying frenzy that will 'pump' up the price of a stock and then 'dump' shares of the stock by selling their own shares at the inflated price. Once the fraudsters dump their shares and stop hyping the stock, the stock price typically falls and investors lose money."