Tag: blocks

Human Body Heat is Being Harvested to Mine Cryptocurrency

By Jason Patterson | NETHERLANDS

A relatively new German  startup has been using the body heat of volunteers to mine cryptocurrencies in a project reminiscent of “The Matrix.”

A  business venture based in The Hague, Netherlands, called Ioho has utilized specially-designed bodysuits to turn excess body heat into digital currency since the beginning of 2015.

On their website, they claim that. “A single human body at rest radiates 100 watts of excess heat…We created a body-suit that uses thermoelectric generators to harvest the temperature differential between the human body and ambient and converts it into usable electricity. The electricity generated is then fed to a computer that produces cryptocurrency. ”

The company claims that it has chosen its pursuits solely on alternative coins such as Dash and Lisk, and not coins like Bitcoin, given the relatively low energy requirements needed for mining.

They have gotten more than 37 volunteers that have apparently produced $127,210 over the course of 212 hours since the project’s inception.

During one interview, with Motherboard’s Daniel Oberhaus, IoHO founder Manuel Beltrán explained the idea of the company, how it works and how it has grown.

“We never mined bitcoins because it would be useless to produce them with human heat,” Beltrán said. “We exclusively mined altcoins and some of them have risen over 46,000% in value. What in the beginning were just small cents now became substantial amounts of money.”

Volunteers were permitted to keep 80 percent while the remaining 20 were kept by the IoHO.

Oberhaus claims that if they decided to use and go in the direction of Bitcoin, it would have taken more than 44,000 volunteers spending 24 hours per day in the bodysuit for one month to achieve the number of funds they have presently met.

“To do 1 bitcoin per month with IoHO’s tech—which in terms of efficiency is on par with most affordable wearable thermoelectric generators available today—you’d need around 44,000 people providing their body energy 24/7,” Oberhaus writes.

The bodysuits from IoHo are claimed to only be capable of harvesting less than 1 percent of the body heat made by the volunteers.

The website also reads “Machines are outing us…As some time ago happened to horses after the invention of the steam engine, humans are becoming obsolete to perform mechanical labor, soon, with the advance of artificial intelligence, it will also affect our possibilities to be useful workers performing intellectual labor.”

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JSE: The New Top Prospect of Crypto

By Michael Kay | USA

Currently, mining crypto is a trade that often only makes sense for ultra-rich corporations who have no problem with expanding loads of time and electricity. But soon, a new crypto-currency is going to hit the market and put the industry on its head. JSEcoin is a cryptocurrency that hasn’t yet been released (but can currently be mined), which has a wildly new way of farming. There are two major changes, which I believe, within a few months of it hitting the market, all other cryptos will begin to adapt to.

First, you can have other people mine for you, by using a script within a code. Using JSEcoin’s code, you can add a small patch of code into any website that you own, and with it, you can have any site visitors automatically mine for you, which means sites with more views earn more money. Soon, advertising will become less valuable, and instead, you will end up with sites who make massive profit merely on mining cryptocurrency, due to this major change. It will also mean that the ad-block industry will completely change, given that now sites will start to lose the need for advertising (which some viewers see as annoying), and will move to crypto.

However, it’s still unknown what the potential for hacking is, given that it means that anyone who uses the website given authorization for their workstation to be used to mine, and so because of this, anti-virus programs will be far more utilized. The second big change is that JSEcoin is aiming to “equalize” the industry, by capping mining speed (taking away some of the advantages that companies have in other currencies), and by using an in-browser mining tool, which enables users who don’t have enormously powerful computers to still operate the program.

This article might be helpful to those interested in crypto, given that this currency is still in development but is currently still useable (but you cannot cash out yet), and you are able to mine without a website as well, simply using your browser window. Good luck mining and enjoy!

Does The Government Use Cryptocurrency to Spy On Us?

By Emily Merrell | USA

Bitcoin was started in 2009 and in 2017 it’s now making its way into the mainstream. Cryptocurrency promises us a way of currency that does not include central-banking or government regulation. However, this anonymous way of using money is putting us at risk to government agencies.

One clear example of this is the now shut-down dark web drug market, Silk Road. This online drug market promised users to be able to purchase drugs anonymously with the use of Bitcoin. This is what puts the cryptocurrency world at risk. People use it to purchase illegal items anonymously. And after a long investigation and monitoring the found of Silk Road Ross Ulbricht was arrested.

Encryption Does Not Make You Instantly Anonymous

Anonymous internet transactions are clearly the current biggest way for people to purchase illegal goods. However, the European Union has released that cryptocurrency cannot even work for terrorist organizations. A European Commission stated that terrorist groups need to use fiat currency in order to function.

Blockchain transactions are complex, that is one factor. Another part is the fact that it’s publicly available. Every transaction made with Bitcoin is recorded for the public to see, which gives the government some sort of idea how the currency is being used.

Terrorism has also caused the government to develop huge security and spy agencies. They are known for spying on all people, regardless of if they have committed crimes or not.

Fraud and Taxation

Governments are making big efforts in order to follow up with cryptocurrency users that don’t declare their earnings. The Cryptocurrency network Coinbase was ordered to release details of their user’s exchanges in order to help the US crackdown on tax evasion.

The government believes that investments should be made taxable, no matter what the currency. Cryptocurrency is currently one of the biggest ways that we have gone against the state and we need to protect it. Let’s make sure the government doesn’t get a handle on this.

That “Economist” Who Wants Bitcoin Banned? He’s Full of Crap.

By Mason Mohon | USA

Joseph Stiglitz found himself being named on headlines of crypto sites across the web. The former chief economist of the World Bank released a statement or two on how he thought that Bitcoin, the world’s biggest cryptocurrency, should be banned. Honestly, we should have expected nothing less from this centralization loving bank buddy.

A Coindesk report dove into what he said in regards to cryptocurrency. “Bitcoin is successful only because of its potential for circumvention, lack of oversight,” said Stiglitz. “So it seems to me it ought to be outlawed. It doesn’t serve any socially useful function.”

This economist, though, has another thing coming. Circumvention itself is not an inherently bad thing. Food is circumvention from starvation. Bitcoin is the feed to an economically starving world. Bitcoin was created so that money could be used outside of the state, and so that we can have transactions that we trust will work in the absence of a third party. So Stiglitz is right in that Bitcoin technology is used (and proudly) to circumvent state action. When the state uses its control of money to stealthily steal our money and finance its wars under the table, I think we may have a moral obligation to circumvent it.

David Veksler from the Foundation for Economic Education wrote about a time when he had profound trouble getting his money from himself to a friend. He tried multiple conventional methods of transfer, yet was heavily discouraged by wait times, fees, and other general issues with getting money to a friend, such as a check getting lost in the mail. In the west, we have been heavily bogged down with regulation, because “politicians want their cut, and they have no problem forcing us to use an expensive and unreliable financial system to get it.” Veksler outlined that Bitcoin allows us to circumvent these western regulations. The state has set up an economic blockade, and cryptocurrency is what we are using to get around it.

As I stated earlier, Bitcoin is food for our economic starvation, yet for some, it is food for actual starvation. A Venezuelan who wished to remain anonymous wrote about how Bitcoin is the only thing standing between their family and starvation. The writer said the following,

The economy is Venezuela is dead. My father lost his air conditioning business and people like our neighbors that were middle and upper class a few years ago can’t afford food. Thanks to the rising price of Bitcoin and its relative stability (to the Venezuelan economy), my family is part of a very small fortunate minority that can afford to help feed their community and also potentially immigrate to another country.

The writer’s entire intent in their writings was to show that Bitcoin does not exist with the sole goal of criminal circumvention for drug activity. It exists to help people in a very humanitarian way, for these people had fallen victim to a very dangerous dictator. Ironically enough, Stiglitz voiced support Venezuelan economic policies a few years ago. We see how well that’s going out.

Joseph Stiglitz has a rough track record, and I wouldn’t be surprised if he’s wrong about something once again. Bitcoin is not a toy for druggies to finesse their way around the government. Its uses seem to be spreading far and wide. Stiglitz needs to get with the program, or it will catch up to him.