BitDeer joins forces with and AntPool for Cloud Mining Service

The cloud computing company BitDeer enters the mining business. With prominent support from AntPool and, BitDeer wants to use its cloud mining service to attract private individuals to Bitcoin Mining.

The Bitcoin secret also has its good side

As a large number of miners are forced to shut down their mining hardware due to low prices, the hash rate drops. Those miners who are still able to operate profitably in the market are also faced with a decreasing difficulty. The current crash of the hash rate has almost taken on historic dimensions. With a minus of 15.13 percent, we are witnessing the second largest waste of the Mining Difficulty at Bitcoin secret ever:

New competition for the mining industry. BitDeer sees this as an opportunity rather than a threat to the Bitcoin infrastructure and is preparing to enter the mining industry. Together with and AntPool, the platform officially launched the cloud mining collaboration on 12 December. This was announced in a press release on December 12.

In the press release, however, the value proposition reads no different than that of the classic cloud miner.

“BitDeer makes it possible to mine Bitcoin without having to buy expensive mining hardware, the press release says.

Ultimately, cloud mining should lower the market entry barriers for Miner by allowing private individuals to rent computing power from the pools. Depending on the size of the investment, a share in the proceeds from mining, i.e. the coinbase rewards and transaction fees, will then be offered.

The solution for small players is Pool Mining

Mergers such as this lead to more centralisation in mining, but are sometimes the only way to survive in the market, according to CEO Zhong Zhuang.

“Large players will further expand their competitive advantage by operating large mining pools”.

However, even small miners will remain competitive if they join forces to form pools.

“That’s why appreciates the partnership with a platform like BitDeer and is looking forward to attracting more private individuals to mining,” said Zhuang.

Coinbase considers the insertion of Ripple (XRP), Cardano (ADA), EOS, Stellar Lumens (XLM)

Coinbase, the largest Bitcoin exchange in the United States, is planning to increase its offer of encrypted currencies. The Crypto Exchange is currently examining over 30 candidates, including the “Top” XRP Coins, ADA, XLM and EOS. Tokens must comply with the Coinbase Digital Asset Framework. In the long term, more than 90% of the coins (compliant with the framework) must be collected through market capitalisation.

The Coinbase crypto exchange wants to expand its relatively low range of nine crypto currencies currently in circulation. To this end, the U.S. stock exchange is currently examining 31 digital assets. Coinbase announced it on its multimedia blog on December 7. Candidates are, for example, the encrypted sizes XRP, ADA, XLM and EOS. But also “smaller projects” such as Decentralland (MANA), Civic (CVC) or (POE) belong to the Coinbase candidates.

What matters is cryptosoft

However, in order to be included in the small circle of cryptosoft tokens listed, a token must comply with the company’s rules for the listing of digital goods like this: According to the Digital Asset Framework, the following questions, among others, must be answered:

Is the asset accessible to all and not controlled by a single party?
Can the product be certified for high quality and safety on the basis of the source code and operating system?
Does the team’s competence meet the project’s requirements?
Are the governance and consensus-building process defined?
Is the project scalable?
Is the asset highly liquid?
Is the asset already traded on a large scale?
Is there a high demand for the asset or are positive network effects achieved with it?
Are there mechanisms that create incentives to protect the network?
If there was a sale of tokens: This was done in accordance with best practices (security, guarantee of fair distribution of tokens, transparency, white paper, etc.).

Coins: No guarantee

Coinbase strongly underlines that there is no guarantee for a GDAX list of the coins listed above. “The addition of new assets requires extensive exploratory work from both a technical and compliance perspective, and we cannot guarantee that all the assets we value will eventually be admitted to trading. In addition, our listing process may result in some of these assets being offered for purchase and sale exclusively to clients without being able to be sent or received through a local portfolio.

In addition, Coinbase will continue to take into account different jurisdictions:

“Finally, in accordance with our listing process, we will introduce new assets based on the relevant jurisprudence. This allows us to add assets in an efficient and responsible manner.

GDAX list (as of: 10.12.18) Source:
Coinbase had already announced in July that it would review the inclusion of ADA, BAT, XLM ZEC and ZRX. After all, more than half of them actually arrived at GDAX. Whoever of 31 new (and old) candidates is accepted into the circle of GDAX tokens wants to announce the Crypto Exchange via blog and Twitter.