2021/10/08

The Fed will implement the ISO 20.022 system for the Fedwire Fund Service (FFS).

"According to a press release released Monday, the US Federal Reserve spread the news that all Fed banks will implement the ISO 20022 system for the Fedwire Fund Service (FFS).


Interestingly, Ripple's blockchain-based payments already comply with the ISO 20022 standard.

This new messaging format allows you to improve real-time payments both at home and across borders. It will also enable banks and other institutions to implement anti-money-laundering measures.

In addition, the Fed Board of Directors asks the public to comment on its plan to allow the FFS to start operating on ISO 20.022. The board also suggests that banks not take three steps to adopt the new message format, but adopt it in one day.“
The funny thing is that Ripple is the only Crypto approved by ISO 20.022.

Alejandro O. Asharabed Trucido

+54911 5665 60608
Buenos Aires, October 8, 2021

Upcoming listing: Bon Fire Stellar (LOGS)...

Bonfire stellar is a Stellar token issued on the Stellar Blockchain. Able to process over 3000+ transactions per sec, BONFIRE is faster, easier, and more convenient than traditional coins like BTC and ETH. 

Bonfirestellar is a community token. With the help of the community the Felt team (BONFIRESTELLAR) will have a decentralized exchange (SDEX) built. The idea is to have a SDex with different level subscriptions while BONFIRESTELLAR will be ran and operated by the community, becoming the first community ran token with a platform where you are compensated with LOGS token for helping with the development of the community or use bfire tokens to advertise and promote tokens on the sdex, while having a secure mobile app so users could store, buy, sell their Cryptocurrency. 

Keep your eyes peeled for more announcements on the upcoming BonFire Stellar (LOGS) listing. 

Alejandro O. Asharabed Trucido

+54911 5665 60608
Buenos Aires, October 8, 2021

Bank of America’s Crypto Research Debuts...

Bank of America’s Crypto Research Debuts: Digital Assets Are ‘Too Large to Ignore’


Bank of America’s Global Research has begun covering crypto, debuting with a report stating that “digital assets are too large to ignore.” Noting that digital assets are “creating a whole ecosystem of new companies, new opportunities, and new applications,” the bank said, “This is growing, this is mainstream, and it’s not just bitcoin.”

Bank of America Debuts Crypto ResearchBank of America announced Monday the launch of its “digital asset research” with the publication of a report titled “Digital Assets Primer: Only the first inning.” The bank wrote:

Report finds digital assets are too large to ignore.

Alejandro O. Asharabed Trucido

+54911 5665 60608
Buenos Aires, October 8, 2021

2021/10/06

Cryptocurrencies with more Future of 2021...

Cryptocurrencies with the most promising future.

Look around you. See how the technological revolution is changing everything and become aware of how digital currencies are at the core of every new disruptive technology.

For example, check out how Ripple is changing the way people send and receive money, and is becoming the payment standard. In addition, how the Ethereum platform is becoming the network for smart contracts and Cardano ADA is building a massive decentralized computing network that millions of people, businesses and governments can one day use to run financial applications from anywhere in the world.

Let's also look at the Litecoin network, where you can have optimized transactions that are highly recommended for people or businesses to pay for everyday goods and services.

So what's the next big cryptocurrency to invest in? With a market capitalization of more than 165 billion dollars and just turning ten this year, the crypto king is believed to be the gold standard of digital assets. However, investors around the world are looking for a new grail with the ability to make them millionaires.

There are several factors to consider about the possible success of a cryptocurrency. As you know, digital currencies do not have value for themselves, but for the network they represent. Therefore, when considering a digital asset, you should look at the platform behind that asset, the technology it represents, how it is implemented in the "real world" and how it is gaining attention and traction in the industry.

Do you see the future? Then you must bring it to your present. And a first step will be to know the cryptocurrencies with more future.

Let's take a look at the most valuable cryptocurrencies on the market and those that have the most potential to become the new king of cryptocurrencies, which will be worthy of getting your attention.

WRX:

In July of 2021 the token WRX has a value of $0,004079 is the criptomoneda native app Wirex, it is a app that has more users, now has more than 3.5 million, and has a nice budget to be released, it has already risen 7.9 million dollars in 5 rounds of funding.

The WRX cryptocurrency is one of my personal bets, it is a good option, with a long-term goal.

The Wirex app is super useful, hence it is growing a lot and will grow much faster the moment you can travel freely again.

It is very useful when traveling because from the app itself you can request a Mastercard debit card with which you can pay with cryptocurrencies or with 9 fiat currencies (Euro, Dollar, Pound sterling, etc) in any store in the world.

From the app itself you can configure the card to pay in one currency or another, depending on the country you are in, saving the currency exchange fees of your bank, you can also get up to € 400 per month at ATMs around the world without commissions.

At the moment you can only buy WXT from the Wirex app, it is not listed in any exchange, in Coinmarketcap it occupies the 660 position taking into account the market capitalization.

Cardano-ADA: 

Cryptocurrency with more future, Cardano is one of the newest digital currencies on the blockchain. Launched in 2015, this technology platform aims to become the home of large-scale financial applications. The decentralized ecosystem runs on ADA, its own cryptocurrency.

Like most cryptocurrencies, ADA is designed to be a fast and reliable vehicle for value transfers. The Cardano network is built in stages, offering a high degree of flexibility when it comes to upgrades. As Cardano also allows the development of dApps, the cryptocurrency community expects multiple services to be developed around it and thus boost ADA digital currency further. Look at Cardano's forecast.

Cardano relies on a strong community of people with advanced technological knowledge. The company has even partnered with the University of Malta to offer multiple courses on programming languages used within the Cardano network. In less than 6 months it has gone from $0.12 to $1.30. Its own creator suggests it could be worth $10.

Commonly used Exchange Binance to buy Cardano is the largest exchange in the world, it is very safe, commissions are very low (0.1%) and above all it is very easy to use.

Tokocrypto:

Tokocrypto is the cryptocurrency that comes to light in 2021 and can multiply its value by 100,000%, has very good potential, according to the technology of the platform behind it.

Theta Network (THETA):

This cryptocurrency supported by Sony and Samsung has grown 30,000% in the last 12 months.

It has been placed in the 11th position of the most important currencies according to the capitalization volume, buying Theta is a very interesting option.

JUST (JST):

If you are looking to make a lot of money with very little investment this project is very promising.

It is a decentralized platform for low-cost lending. It looks very good, it is a project still very young with a market capitalization of $227,540,575, if it manages to position itself a little better, it will be easy to multiply the investment by 10, you can buy JUST in Binance.

Akropolis (AKRO):

It is a project focused on creating for-profit capital funds to provide access to unsecured loans. At the moment the market capitalization is very low, so if any whale bets on this project, you can multiply your investment by a lot, it is available in Binance.

Axie Infinity (AXS):

It is a very good project, it is a Pokemon type game, the cryptocurrencies you can exchange for objects and skins that you can use within the game. It is also a project with very low capitalization so if the game likes the players and a few investors bet on cryptocurrencies, its value can shoot to the clouds. You can buy this cryptocurrency on Binance.

WINk (WIN):

It is a project that offers a few online gambling games, with over 16,000 active players. It came out in July 2019, looks like it's starting to take off. You can get half a million WIN in Binance for €150.

ETH-Ethereum: 

Launched on July 30, 2015 is one of the cryptocurrencies with the greatest potential and one day may be on a par with Bitcoin, Ethereum is a decentralized network that provides optimized structures for dApps and smart contracts. Its currency is the Ether with a circulation of 108 million ETH coins and a market capitalization of almost 20 billion dollars, Ethereum continues to have a great future.

Ethereum is historically the second crypto by popularity, as well as by market capitalization. It is a safe bet, whoever has invested in the last few months in Ethereum knows it, has doubled their money in less than 2 months. So far it has not reached its ceiling, so it is still a good time to invest.

You can buy Ethereum on Binance (the largest exchange in the world and the easiest to manage).

LTC-Litecoin:

The Litecoin network provides faster block generation and optimized transaction confirmation. It was launched as one of the first altcoins in 2011, and there are 63.5 million LTC in circulation with a value of 3.7 billion market capitalization.

LTC developers created the currency to use as a means of payment for everyday goods and services. Litecoin's option as the next big cryptocurrency lies in that transactions are confirmed by a P2P network faster, than Bitcoin transactions, has a great future ahead.

Ripple-XRP:

This is the fourth cryptocurrency by market cap, and is among the most promising investments on this list. Its strong technology and network are rapidly opening up new opportunities in the field of international trade, banking and payment networks.

Remittance giant MoneyGram received more than $ 11 million from Ripple in 2019 to use its blockchain technology for payment solutions. .MoneyGram continued to expand its strategic partnership with Ripple as the first money transfer company to scale the use of blockchain capabilities.

In February 2020, the European money transfer service Azimo announced that it would also start using Ripple's on-demand liquidity to increase the speed of customer transfers.

The list of companies that use Ripple's services goes on and on. Experts believe that 2021 will result in further adoption of XRP and therefore its price will increase significantly.

BNB-Binance:

Launched on July 21, 2017, Binance is a utility token that can be used to pay transaction fees on the Binance exchange and at a discount. It has a bid of 155.5 million BNB circulating with a market capitalization of 3 billion dollars.

As a utility token, its main focus is to be a payment method on the Binance network, however it can also be traded by other cryptocurrencies. Remember that Binance only accepts transactions with cryptocurrencies and none with fiat currency. So, BNB was created to facilitate that transition.

It is another of my favorite tokens to invest in the short and medium term, It is one of the crypto with the most future since the future of Binance in the crypto world will be very prosperous.

Zcash:

Do you think Bitcoin offers you privacy? Think twice. Most cryptocurrencies can be traced back to their owners, by the actions of governments and companies.

Alejandro O. Asharabed Trucido

+54911 5665 6060
Buenos Aires, October 6, 2021

2021/10/05

What is market capitalization and how it can be calculated?...

In simple terms, market capitalization is the value of a cryptocurrency on the market at any given time. To calculate it, you simply need to multiply the amount of digital coins in circulation by the price of each cryptocurrency.

Let's take an example. You are the owner of an apple orchard and you harvested 100 apples, which are sold for one euro each. Since the apples that are still in the trees do not circulate, we will not consider them. The market capitalization of your apples would be 100 euros.

Why is it important to consider market capitalization before investing in cryptocurrencies?

Because knowing the market capitalization of a cryptocurrency can give you an idea of the probability that the price of a token will skyrocket.

The key is not only to find a token with a low price, but also one with little circulation. In other words, you should find a low market cap cryptocurrency.

Before deciding what is the next cheapest cryptocurrency to invest in in 2021, let's look at the two main types of investment strategies for cryptocurrencies.

A long-term investment is one in which you expect a cryptocurrency to perform better over a longer period of time.

Normally, the minimum time for long-term investment is 6 months to 1 year. It will depend on you how you decide to invest, you can make an investment in one go or you can invest at different times.

Long-term investment strategy:

Again, before investing any amount, you should have a clear idea of what your investment goals are:

Will you sell the cryptocurrency after a certain time or will you sell it when it reaches a certain price?

Will you sell your investment at once or will you sell parts of it at different times?

On what occasion would you sell the long-term investment in the short term? For example, if new laws come into effect that could affect the long-term price of your investment, you may want to consider selling it earlier.

Next, you need to do some research to decide which cryptocurrencies are the best as long-term investments. We recommend that you check the following:

Is your technology better than your competitors?

Do you have a strong team of founders and developers?

How good is your roadmap / plan?

Are you solving real-world problems?

If you truly believe in the cryptocurrency you invest in, you should learn to keep your investment even when prices drop. If you sell "when you panic", then you could lose money and regret selling.

Reasons for long-term investments:

Long-term investment makes your life easier, as you don't need to be aware of the market all the time.

You think some cryptocurrencies will give better performance in the long run.

You really believe in the future of cryptocurrency.

Short-term investments are made in shorter periods of time in the hope of making quick profits. So how short is a short-term investment?

It can take seconds, minutes, days or even a few months.

How do short-term investments work?

As with long-term investments, you should have clear objectives for your investment. You need to ask yourself:

What benefit do you expect from this investment? This will give you an idea of the price at which you should buy / sell the cryptocurrency.

How much loss will you take? This will help you control your losses if the price of the cryptocurrency drops suddenly.

Do you have time to study and follow the cryptocurrency market and news?

Can you do technical analysis of the cryptocurrency market? If not, you should learn before investing.

Will your short-term strategy give you greater benefits than a long-term strategy?

Cryptocurrencies that meet the following characteristics are good options for short-term investments:

Low market capitalization.

High trading volume: many people buy and sell it every minute.

They are currently trending in the news and social networks.

Have an ICO or just finished your ICO: try to get them at a low price.

The main advantage of short-term investments is that you can make a lot of money in a short time. However, they have their disadvantages.

They require a lot of time and effort as it is necessary to constantly monitor market prices.

It is a riskier investment and can result in higher losses due to how much the price changes in a short time.

It can be very stressful.

Finding:

While cryptocurrencies can bring you huge profits, you need to be prepared for one more thing: losing money. Remember, your predictions won't always be correct! No one really knows what will happen to the price of a cryptocurrency or any other investment.

Do you know what most expert cryptocurrency investors say? You should only invest money that you are not afraid to lose. That's great advice, so always remember it!

Finally, if you want to start trading cryptocurrencies, make sure to use only the most reliable Exchanges, such as Binance.

Alejandro O. Asharabed Trucido

+54911 5665 6060
Buenos Aires, October 6, 2021

2021/10/04

Gold Secured Currency (GSX): Gold Hits Historic Prices...

Gold is now over $1,800 an ounce and rising. The precious metal peaked at $2,065 in 2011 after the 2008 financial crisis, and gold’s value is poised for continued growth. When people are fearful, timeless assets increase in value due to their ability to preserve capital.

Apollo Fintech is launching Gold Secured Currency (GSX) in an ongoing coin distribution event (CDE) with an initial price of $0.046 USD each. A total of 10 billion GSX are available for acquisition with a hard cap of $100 million.

QE and Excess Cash:

The fact that depositors, investors and consumers are turning towards commodities and hard assets is foreshadowing coming economic developments.

Many are bracing for the negative consequences of the monetization of debt, quantitative easing (QE), and trillions in newly-printed fiat. Their negative impact includes:

high inflation dollars’ loss of purchasing power (as well as those of other fiats) low interest rates (or even negative rates) other unforeseen developments which create uncertainty QE may stimulate an economy in the short-term, but it can also plunge consumers and businesses into more debt and exacerbate the fragility of an already depressed business climate.

Gold, silver, real estate and other real assets are becoming more attractive as a safe haven for investors.

GSX is asset-backed, as well as backed by mining operations in the Wytte Mines in Zimbabwe. GSX holders are entitled to annual payouts.

Apollo Fintech is a leading blockchain company that develops world-shaping fintech solutions for a global economy. Apollo has offices in Africa and North America with plans to expand in Asia, Europe and Latin America. Apollo Fintech is becoming a global leader in Government blockchain solutions, as well as pioneer of international mass adoption.

Learn more at aplfintech.com

Alejandro O. Asharabed Trucido

+54911 5665 6060
Buenos Aires, October 5, 2021

International shipping and crypto mining company Sino-Global...

MINING: International shipping and crypto mining company Sino-Global will invest $10 million to develop a new proprietary bitcoin mining machine called Thor in a joint venture with blockchain technology firm Highsharp. Hive Blockchain, a Vancouver, British Columbia-based crypto mining company focused on BTC and ETH, reported its first-quarter profit surged 10-fold from a year earlier. Finally, Marathon Digital Holdings, another mining company, has secured a $100 million revolving line of credit with Silvergate Bank in bitcoin and U.S. dollars.

Alejandro O. Asharabed Trucido

+54911 5665 6060
Buenos Aires, October 5, 2021

2021/09/30

What is really going on in the world? Energy crisis, financial risks and supply shortages?...

China: Shortage of chips is the least of the problems: Shortage of "absolutely everything" is approaching.

A long time ago that it is talking about the shortage of chips, and they are becoming more passive components that begin to run low, while the rare earths that are used rise in price more and more, but this seems to be only the tip of the iceberg, and it indicates that China is starting to suffer the first consequences of an energy crisis that is already affected the country and that they will exert even more pressure on global supply chains and generating a huge shortage of "all for all the planet", in addition, it is also, China has a dozen sea ports closed a couple of months ago, which aggravated the situation of supplies for the entire planet, the energy crisis, financial and supplies of all kinds, I already arrived, need to know when to hit and where first.

More financial giants that are seriously affected by the bankruptcy of the Chinese mega-company, Evergrande, leader of the market of real estate and construction in China, in addition to owning a hundred banks.

Recalling a little further back, where there was a stock market and financial crisis (specifically credit) that erupted in the United States at the end of 2007, but its effects began to be noticed in early 2008. This put many countries and businesses under pressure and triggered other crises (e.g. public debt).

Today in China history is repeating itself again, but China is financially giant, what nobody dares to say yet, is that it will happen, when the first domino chip falls, what will happen next? what will be the consequences, as far as it will cover?...

For now we can predict some events that are happening now, for example, the funds of BlackRock, Vanguard and Fidelity suffer an exodus because of the fear of Evergrande, three of the largest fund managers in the world, have faced strong exits from portfolios exposed to Chinese real estate debt. Meaning, major financial crash and global shortage of everything, food, above all, a dollar in free-fall, the Oil barrel Brent (North Sea) is more than 80 dollars, crisis energetica, adding points to the financial crisis, shortage of raw material and supplies from China to the world, but the dozens of ports sea of china closed, as a consequence to aggravate even more the system of supply of raw materials and commodities on the chain of distribucioon global, up to that degree of scarcity, to take place, with regard to the problems above sitados? while, for now you can predict nothing, what you predict is not good at all.

USA: The biggest economic crisis is brewing since 1929. The perfect storm, the new financial system QFS, will come out of this new mindial crisis, that is what is being exposed, it is the only way out, the banking cartel, the Babylonian system of fractional currency, fake money, debt money, will end forever, that is a fact.

Japan: The covid-19 health alert will be lifted on October 1, in force in Tokyo and 18 other prefectures of the country on October 1, as planned, after appreciating a sharp drop in daily cases and serious patients.

Sweden: Virtually all restrictions, covid and vaccination will be eliminated on October 1st. No covid passport.

Norway: Has removed all restrictions, covid and vaccination. No covid passport.

France: The French oppose Macron's tyrannical covid passports for the eleventh consecutive week.

Spain: The Government of Navarra will leave from this Friday, October 1st, all anticovid measures (referring mainly to schedules and capacities) without effect, given the remarkable improvement in the epidemiological situation of the Foral Community, and after the Institute of Public Health concluded the period of epidemic circulation of covid-19.

Alejandro O. Asharabed Trucido

+54911 5665 6060
Buenos Aires, September 30, 2021

Que es lo que realmente esta pasando en el mundo?, Crisis energetica, riesgos financieros y escasez de suministros?...

China: La escasez de chips es el menor de los problemas: Se acerca la escasez de «absolutamente todo».

Ya hace mucho tiempo que se viene hablando de la escasez de chips y que cada vez son más los componentes pasivos los que comienzan a escasear, mientras que las tierras raras que se emplean suben de precio mas y mas, pero esto parece ser, sĂłlo la punta del iceberg, y es que se indica que China está comenzando a sufrir las primeras consecuencias de una crisis energĂ©tica que ya está afectado al paĂ­s y que van a ejercer aĂşn más presiĂłn a las cadenas de suministro globales y generando gran escasez de «todo para todo el planeta», sumado a esto, es que ademas, China tiene una docena de puertos maritimos cerrados hace ya un par de meses, con lo que agraba la situacion de suministros para todo el planeta, la crisis energetica, financiera y de suministros de todo tipo, ya llego, falta saber cuando golpeara y donde primero.

Más gigantes financieros que se ven gravemente afectados por la bancarrota de la megaempresa china, Evergrande, lider del mercado del bienes raices y construccion en China, ademas de ser propietaria de un centenar de bancos.

Recordando un poco mas atrás, donde se produjo una crisis bursatil y financiera (específicamente de crédito) que estalló en Estados Unidos a finales del 2007, pero sus efectos empezaron a notarse a principios del 2008. Esta puso bajo presión a muchos países y negocios, además fue el desencadenante de otras crisis (p.ej. deuda pública).

Hoy en China se esta repitiendo nuevamente la historia, pero China es financieramente gigante, lo que nadie se atreve a decir aun, es que pasara, cuando caiga la primera ficha de domino, que sucedera luego?, cuales seran las consecuencias, hasta donde abarcara?...

Por ahora podemos ir prediciendo algunos acontecimientos que estan sucediendo ahora, por ejemplo, los fondos de BlackRock, Vanguard y Fidelity sufren un Ă©xodo por el temor a Evergrande, tres de las mayores gestoras de fondos del mundo, se han enfrentado a fuertes salidas de las carteras expuestas a la deuda inmobiliaria China. Significado, gran crack financiero global y escacez de todo, alimentos, sobre todo, dĂłlar en caida libre, el barril de Petroleo Brent (Mar del Norte) supera los 80 dĂłlares, crisis energetica, sumando puntos para crisis financiera, escasez de materia prima y suministros de China hacia el mundo, mas las docenas de puertos maritimos de china cerrados, como consecuancia agravando aun mas el sistema de suministros de materias primas y comodities sobre la cadena de distribucioon global, hasta que grado de escasez se llevara a cabo, con respecto de los problemas anteriormente sitados?, si bien, por ahora se puede predecir nada, lo que se pronostica no es nada bueno.

USA: Se está gestando la mayor crisis económica desde 1929. La tormenta perfecta, el nuevo sistema financiero QFS, saldra de esta nueva crisis mindial, eso es lo que se esta exponiendo, es la unica salida, el cartel bancario, del sistema babilonico de moneda fraccionaria, dinero falso, dinero deuda, se terminara para siempre, eso es un hecho.

JapĂłn: Levantará la alerta sanitaria por covid-19 el prĂłximo 1° de octubre, vigente en Tokio y otras 18 prefecturas del paĂ­s el prĂłximo 1 de octubre, como estaba previsto, tras apreciar una acentuada caĂ­da de los casos diarios y de los pacientes graves.

Suecia: Se eliminará 1° de Octubre, prácticamente todas las restricciones, covid y vacunacion. Sin pasaporte covid.

Noruega: Ha eliminando todas las restricciones, covid y vacunacion. Sin pasaporte covid.

Francia: Los franceses se oponen a los tiránicos pasaportes covid de Macron por undécima semana consecutiva.

España: El Gobierno de Navarra dejará a partir de este viernes 1° de Octubre, sin efecto todas las medidas anticovid (referentes, principalmente, a horarios y aforos), ante la notable mejorĂ­a de la situaciĂłn epidemiolĂłgica de la Comunidad Foral, y despuĂ©s de que el Instituto de Salud PĂşblica diera por concluido el periodo de circulaciĂłn epidĂ©mica de la covid-19.

Alejandro O. Asharabed Trucido

+54911 5665 6060
Buenos Aires, September 30, 2021

2021/09/29

The Perfect Binomial: Big Data and Blockchain...

Blockchain-based technology is capable of responding to many currently inevitable problems. That's why, the combination of Blockchain and Big Data could make the verification of transferable data perfect.

Anyone who has had to deal with large amounts of information knows that there are always high costs associated with big data such as false information, duplicity of the same data or human error.

Blockchain technology apart from data management, can be applied directly to enhance digital advertising as we know it. Since, Blockchain can serve as a means for fraud prevention, engagement and enhanced targeting, and to get rid of unnecessary intermediaries through different channels.

As a result of the binomial, Big Data and Blockchain, there are projects that are already providing critical information to the world, such as government, industrial, voting records, B2B, property and credit agency data.

The benefits of this combination of technologies are:

1) Transparency, by using Blockchain-based technology, data providers can rely on traceability and transparency.

2) Trust through the binomial that provides much-needed security between the data source and the end user.

3) Accuracy with the use of Artificial Intelligence, which allows fast and accurate navigation and classification of billions of data records, while Blockchain-based technology ensures their verification.

4) And simplicity

Blockchain-based technology is capable of responding to many currently inevitable problems.

The combination of Blockchain and Big Data could make the verification of transferable data perfect.

In short, the binomial between Big Data and Blockchain originates a facilitating and simplifying role because they are able to analyze the origin of the data and ensure that those data are reliable. Blockchain could be a catalyst for data quality and as such, the convergence of Big Data and Blockchain offers enormous opportunities for both organizations and consumers. For example, one of them is fraud prevention, as Blockchain technology allows financial institutions to verify every transaction in real time, can identify risky or fraudulent transactions on the fly, and avoid fraud altogether.

Alejandro O. Asharabed Trucido

+54911 5665 6060
Buenos Aires, September 29, 2021

2021/09/28

Crypto News... Cryptocurrency Mining and Energy...


How much energy does it consume to mine cryptocurrencies at home?Cryptocurrencies have been in the spotlight this past year due to their skyrocketing growth in value.

Bitcoin and Ethereum are the two most popular cryptocurrencies in the world and it is no wonder that people like you are interested in the world of mining to generate profitability.


If you want to start mining cryptocurrencies you need a computer with enough power and know how much energy it will consume to make the investment profitable.

How much power does a mining computer consume?

Using a wall meter is the fastest and most efficient way to know the power consumption of your computer.

For example: if you have a computer with these specifications it will consume a total of approximately 0.2 - 0.3 kWh.

Processor: Ryzen 5 3600X 3.6GHz
Graphics card: RTX 3070 12GB
Ram: 32GB DDR4
Power supply: 650W
Motherboard: Gigabyte B450 AORUS Pro

The above configuration is the most common for mining Ethereum or other cryptocurrencies, except bitcoin unless you have hundreds of computers like that.

The consumption will depend on the characteristics of your computer. Note that it can vary between 0.1 and 0.6 kWh.

If you want to know the price per kWh in Spain check this page.
If you want to know the consumption and profitability of your graphics card you can go to this website.

On this website you will also find:

A calculator to know the consumption and mining power of ASICs.
A ranking of the best ASIC models according to their profitability, power, hash rate, and cost.

Ranking of the best GPUs.

But is it really profitable to mine cryptocurrencies at home?

Quick answer: Yes, except Bitcoin. This is not profitable if you want to do it from home unless you have hundreds or thousands of powerful computers to compete against super mining farms.

Other cryptocurrencies can be a good option.

Extensive answer: It depends on the cryptocurrency.

Bitcoin (BTC): The world's most famous cryptocurrency is not profitable due to high competition and mining farms spread all over the world. The more people decide to mine bitcoin the more complicated the algorithm becomes, so more and more computational resources are needed to obtain a hash.

1) Algorithm: Proof of Work (PoW)
2) Reward: 6.25 BTC


Ethereum (ETH): The second cryptocurrency with the largest market capitalization. To this day it is still a good option for mining but you need a computer with a minimum of power.

1) Algorithm: Proof of work.
2) Reward: 2 ETH


Monero (XMR): This cryptocurrency has a high level of privacy and decentralization. The advantage is that you can use it to mine both CPU and GPU.

1) Algorithm: Proof of Work
2) Reward: 2.47 XMR


Litecoin (LTC): Litecoin is an option for mining because it is a fairly stable coin, (although in the crypto world this is no guarantee) and does not require a large investment to make a profit.

1) Algorithm: Proof of Work
2) Reward: 12.5 LTC


Dogecoin (DOGE): This cryptocurrency was born as a meme but has currently become quite popular. Elon Musk and other influencers have promoted this coin with the goal of making it reach 1 USD in value.

1) Algorithm: Proof of Work
2) Reward: 10.000 DOGE


Now. If what you want is to get bitcoin, one option is to mine the aforementioned cryptocurrencies and then exchange them for bitcoin. This way you can mine more affordable cryptos with cheaper hardware and get bitcoin just the same.

Use renewables to save energy.

If you have a roof or a balcony where the sun shines for long periods or it is very windy you can choose to put solar panels or wind turbines.

These options are expensive but in the long run, you can save electricity and run your mining computers on clean energy.


Conclusion:

Energy consumption for mining cryptocurrencies ranges from 0.2 to 0.6 kWh depending on hardware power.


Bitcoin is not a profitable coin but there are alternatives like Ethereum, Monero, Litecoin, and Dogecoin that are profitable and with less hardware cost.

If what you want is to get bitcoin, you can always mine the cryptos mentioned above and exchange them for bitcoin.

Alejandro O. Asharabed Trucido

+54911 5665 6060
Buenos Aires, September 28, 2021