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Advanced Miners Develops Versatile Mining Equipment To Decentralize Bitcoin And Improve Earnings


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Cryptocurrency mining, once a highly profitable venture, has become more challenging as costs have increased, especially in the past year.

Advanced Miners, a mining company that already operates a mine in northern China, has developed more economical mining equipment, an online mining cloud platform, and will open more mining farms.

Advanced Miners’ goal is to make bitcoin more decentralized with more mining pools and more versatile mining hardware. The company’s versatile equipment will make mining more accessible to many.

Meeting The Challenge

Not only is investment in mining is long-term, but the investments require an understanding of mining equipment, which is difficult to acquire for many.

Advanced Miners has responded to this need by introducing its own ASIC mining equipment based on 12 nanometer (nm) chip, which has been successfully tested. The chip will be launched for public sale by mid-year, and an ASIC based on 7 nm will be available by year’s end.

The income from both the AMS-12 nm and ASM-7 nm has the potential to surpasses that of other mining equipment.

Following distribution of the new mining equipment, Advanced Miners will open its online cloud platform for people to buy and sell hash. Only the ACM token will be accepted for payment, which bodes well for the token’s future value.

The company in 2016 launched its first bitcoin focused farm in northern China using Antminer ASIC from Bitmain. The best energy price at the time was $0.04 per KW. By April 2017, Litecoin and Ethereum farms were established, followed by Monero and Dash farms.

ICO Begins

The announcement of the 12 nm chips coincided with the recent launch of the ICO, which released 12 million tokens and will last through June 15. The price is $0.9 per token, a 35% discount from final token price.

The second stage of the ICO will bring the main sale, with a token price of $1.2 for 5,000 to 10,000 units of ASIC AM-12. The ASIC AM-7 based on the 7 nm chip will be tested.

Hash rates will increase in steps following the ICO. The estimated hash rate after the ICO is 542.00 PH/s for SHA-245, then 1,650.00 PH/S after the buy/sell hash platform begins, then 3,800.00 PH/S after the launch of the cloud mining platform.

New Mining Farm Coming

Advanced Miners’ next step will be to establish a mining farm in Canada with an AMS-1 based on a 12 nm chip with an estimated electricity rate of $0.03 per KW. A large mining pool will launch by April of 2019.

Investors will be able to exchange or turn ACM tokens into hash power since mining profit and payments will be executed automatically. Users can purchase contracts for bitcoin mining with ASIC AM-12 and AM-7 with ACM tokens during the 2018-2019 period.

The company will not sell mining boards equipped with the 12 nm chips to the public, but only to its investors in its ICO.

ICO investors will have some advantages compared to other mining companies since they can choose whether to buy ASIC with delivery to their data centers or buy hash on the online platform with guaranteed cheap electricity.

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FBI: “Call of Duty” Players Remotely Stole $3.3 Million in Cryptocurrencies

A group of “Call of Duty” players from Indiana are accused of stealing more than $3 million in cryptocurrencies after coercing an Illinois man to aid them in remotely hacking unsecured crypto wallets on more than 100 cell phones. Man Coerced Into Hack After SWATing Incident The episode began in Bloomington, Illinois, where a local man told the FBI he met the members of the would-be group of cybercriminals online playing Call of Duty. In the simulated warfare game, players are able to communicate with each other in real-time and with relative privacy. The group, based out of Dolton, Indiana, allegedly coerced the man from Bloomington into working for them using an intimidation tactic called “SWATing,” a nefarious, illegal, and dangerous phenomenon that has become increasingly popular in online gaming communities. SWATing is when police are called with a false report of a violent crime at someone’s home, which prompts a response from a SWAT team — oftentimes leading to door breaches, gunfire, and even the accidental deaths of unknowing victims. It’s often used as a decidedly dark method of payback, or, as in this case, to intimidate or threaten an individual. Afraid of further retaliation the man succumbed to the hacker’s requests, to which they handed over names, phone numbers, and other information that permitted him to remotely access the cell phones of their victims. According to the FBI affidavit, the man admitted to taking over the cell phones of more than 100 people. Once the group took over a phone, they were able to hack into a victim’s cryptocurrency account and drain their funds. The group is suspected of stealing at least $3.3 million in various cryptocurrency, including about $805,000 in Augur’s Reputation Tokens, according to the FBI. The suspects then allegedly moved stolen tokens through cryptocurrency networks, such as Ether or Bitcoin, to their own digital wallets. As of yet, the Chicago Sun-Times isn’t naming the suspects identified in the affidavit because they don’t appear to have been charged with any crimes. In an online interview the Bloomington man proclaimed his innocence — even going as far as to say that considers himself a victim: “I have done nothing but cooperate with Augur and the FBI,” he said. “I have never once profited from anyone [by] crypto-hacking, ever.” Crypto Thefts in First Half of 2018 Total Over $1.1 Billion According to recent study from cybersecurity firm Carbon Black, the total amount of cryptocurrency that has been stolen through cybercrime this year alone is over $1.1 billion — primarily through ransomware and exchange hacks. The firm’s report claims that many criminals are using the dark web to appropriate cryptocurrency from their victims, estimating that there are over 12,000 marketplaces with almost three times that number of crypto theft listings between them. Rick McElroy, security strategist at Carbon Black, spoke on the trend, noting how easy it is for cybercriminals to operate these days: “It’s surprising just how easy it is without any tech skill to commit cybercrimes like ransomware… It’s not always these large nefarious groups, it’s in anybody’s hands.” Part of the reason for this is the accessibility and user-friendliness of the tools of the trade. McElroy said that certain pieces of malware even come with customer service to aid would-be cybercriminals, adding that the malicious software costs an average of $224 but can be picked up for as little as $1.04. Many of the attacks against crypto users, companies, and exchanges originate from an organized group of criminals like those out of Indiana, however, McElroy says, they’re just as likely to be the product of a trained engineer who is out of work: “You have nations that are teaching coding, but there’s no jobs… It could just be two people in Romania needing to pay rent.” Image from Shutterstock The post FBI: “Call of Duty” Players Remotely Stole $3.3 Million in Cryptocurrencies appeared first on NewsBTC.

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