21st Money Crypto Miner Report 09/14/2018

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21st Money Crypto Miner Report 09/14/2018

Posted on September 14th, 2018 in Blockchain News by The 21st Money Team

Crypto Mining Weekly is dedicated to bringing you the latest developments in Crypto mining technology. Information that will guide you to the most effective methods and tools available to maximize the output of your crypto mining configuration and investment.

What’s Hot and What’s Not
What's Hot and What's Not

The days are drawing near. The reward for mining Bitcoin will be cut in half in about 615 days. The Bitcoin reward for solving the hashing algorithm and adding a new block of data to its blockchain is now 12.5 Bitcoins. The countdown is on, and a new player has shown up at the poker table, claiming he now has the, pound for pound, fastest Bitcoin miner. This new player has bought into the high stakes table, taken his seat, and may be holding an ace and a pair of kings.

Bitewei has appeared on the scene with a new Application Specific Integrated Circuit (ASIC) that can outperform Bitmain's newly released Antminer S9-Hydro. Bitewei pronounced, Bit - ew - weee, by the 21st Money Team because of the way they burst on the scene with a product that can take crypto mining to a whole new level.

Bitewei's flagship product is the WhatsMiner M10. The WhatsMiner M10 has been reported to perform with 30% more efficiency than the newly released Bitmain Antminer S9-Hydro. This new challenger has the mining champion on the ropes begging for the bell to ring. The WhatsMiner M10 can calculate 1 trillion hashes and only consume 66-68 Watts of electricity. Whereas the Bitmain Antminer S9-Hydro consumes 96 Watts to perform the same amount of calculations. To help make these specifications sound more meaningful to the non-scientific community, let's compare the two devices this way. At peak performance the WhatsMiner M10 requires 2145 Watts of electricity to calculate 33 trillion hashes per second (33Th/s). The Antminer S9-Hydro requires 1,728 Watts of electricity to calculate 18Th/s. The retail price for the WhatsMiner M10 is between USD $1,588 - $1,788. The AntMiner S9-Hydro is now being sold for $719. The price / production war is on between two corporate structures that can only be compared to David and his giant opponent Goliath. The timing of Bitewei's introduction into the crypto mining arena is just days before Bitmain proposes to bring a $2 billion Initial Public Offering (IPO), one of the largest of all time, to market. It has been rumored that investors are backing away from the Bitmain deal after hearing the news of Bitewei's innovation.

Bitewei's announcement also comes on the heels of two landmark rulings concerning intellectual property in China. The intellectual property rulings are specifically directed towards ASIC miners and the patents involved in their production and sale. The first ruling came from China's State Intellectual Property Office (SIPO) April 8th of this year. The SIPO revoked Bitmain's claim of owning the technology to a power supply circuit that is a critical piece of the technology needed to create ASICs. The second ruling came from the Urumqi Intermediate Court. Bitmain's complaint, regarding the same unlawful use of their technology was dismissed by the court on August 31. Those two rulings allowed Bitewei to maintain the rights to the patents they own and go full speed ahead to the production and sale of their new miner.

When The 21st Money Team looks at the cryptomining industry and market, these scenarios move us to reflect on some solid mining history lessons. Even though crypto mining is centered around a digital asset, and not a physical one, some similar principles may apply. The greatest mining dynasty of our modern era is centered around the De Beers of South Africa. The De Beers have managed to dominate the diamond mining industry and the sale of those precious stones. As the story goes the De Beers gained control of the diamond mines selling the shovels, not from digging for the diamonds. It has been reported that Bitmain controls 85% of the cryptocurrency mining hardware market. Bitewei and Bitmain are locked in confrontation. The 21st Money Team is dialed in, as their futures unfold.
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