Showing posts with label Mining. Show all posts
Showing posts with label Mining. Show all posts

Thursday, June 12, 2014

NimbusMining: Is CoinWare EHC a Window Into Bitcoin Mining?

The bitcoin logo
The bitcoin logo (Photo credit: Wikipedia)

NimbusMining: Is CoinWare EHC a Window Into Bitcoin Mining? (via PRWeb)
Nimbus Mining LLC allows anyone to get bitcoin and start mining bitcoin, using a new, revolutionary technology called CoinWare Elastic Hashing Cloud or CoinWare EHC™, which is like an operating system working on top of the bitcoin protocol, providing…

Tuesday, April 1, 2014

Governor McAuliffe Announces $4.75 Million Funding For Water Project in Buchanan County

Seal of Buchanan County, Virginia
Seal of Buchanan County, Virginia (Photo credit: Wikipedia)
~Project will provide public water to 267 households ~

RICHMOND ─ Governor Terry McAuliffe announced today that the Department of Mines, Minerals and Energy (DMME) will administer a federal grant totaling $4,750,000 to provide public water to a community in Buchanan County affected by past coal mining practices.  The water project has been selected for construction funding under Virginia’s Abandoned Mine Land (AML) FY14 Grant to be released in April 2014.

“I am pleased to announce the funding of the fifth phase of the Hurley Regional Water Project in Buchanan County,” said Governor McAuliffe.  “I commend the initiative taken by the Buchanan County Board of Supervisors to submit the application to bring clean public water to a total of 267 households.”

Hurley Regional Water Project Phase V - Buchanan County Board of Supervisors: The Hurley project represents the fifth phase of construction for the extension of public water service into the Hurley area of Buchanan County, Virginia. The project includes the construction of a water storage tank and a pump station. The funds will also pay for the replacement and upgrade of water lines to make this extension of public water possible and to provide an opportunity for future extensions.

Reclamation fees paid by the coal industry have funded the replacement of over 8500 domestic water supplies that were adversely affected by mining that occurred prior to passage of the Surface Mining Control and Reclamation Act of 1977.  In addition to providing needed public water supplies this project also creates a number of construction jobs to stimulate the local economy.

Funding for the DMME’s water supply replacement projects is through reclamation fees paid by the coal industry.
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Tuesday, December 31, 2013

Litecoin vs Bitcoin - Interview With IBM Architect Richard G Brown

As we continue to state, Bitcoin is the largest news story of the century to date.  Now of course Bitcoin is not the only game in town or in the world.  Litecoin is also a new contender on the market and there are others already popping up.  Crptocurrency as it is now being called is here to stay.  Based on all present research, what our own opinion is at this time, paper currency will not be going away in any country anytime soon.  Debit cards may disappear, however, credit cards will continue to flourish.

  What we are also looking at will be an entire new series of laws and regulations that will come up around these new currencies that will also invade privacy as well as change the way services are rendered which will mean price increases on many services.  Trying to protect your privacy in the future will become a crime.  This is a given.  What you presently take for granted will be going away.  It's based on the technology.  (Not really, that's just the excuse that will be used).

  There are many areas of the technology that we like, however, there are now many areas of the technology that are really starting to concern us.  The invasion of privacy that will follow is our biggest concern.  How will this new technology invade privacy?  It could and will be used to prevent anyone from remaining anonymous.  Only criminals have something to hide.  Are you a criminal?  Now of course you will be allowed to conduct certain transactions in an anonymous fashion, however, you will go through a great deal of scrutiny, questioning and audits.  You may or may not be found guilty of some form of conspiracy however.  This is how privacy will be invaded then taken away.

  Now it's not to say that it will be fully taken away, it will at first be made a major risk to anyone who wishes to try and remain anonymous for whatever reason.  Cash will become a rare commodity in the next 10 to 15 years if not sooner.  It still has uses, but they will become more and more limited.  Why cash currencies will not go away.  Imagine a major power grid goes out for days on end.  Cryptocurrencies depend on the ability to conduct transactions electronically.  How does anyone continue to conduct any form of trade without some form of payment in exchange?  Battery backups?  That is simply to limited.  Some form of alternative payment systems will always be needed.  Cash is the only means for that.

  Other issues of cryptocurrencies, they devalue cash.  When transaction and conversion fees apply one of the forms of payment must be devalued in order to value another.  If cryptocurrencies become the main form of transacting business, then it's the cash that gets devalued.  Now the cryptocurrency may be tied to the cash, one still has to take a hit.  So a question now comes up.  Is Bitcoin and other cryptocurrencies now starting to impact the value of other currencies?  It has to.  All of the cryptocurrencies have transaction and conversion fees.  Those need to be paid for in cash.  Add to it the country where you are conducting business and then take into account that they too want monetary conversion fees.  To reverse the cryptocurrency back to cash?  Yup, more fees.

  So who is going to lose with the new age of cryptocurrencies?  White collar workers as they get phased out of the offices as they will no longer be needed.  That in itself is yet another full post for a later story.
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Sunday, December 29, 2013

The New Bitcoin Revolution

The bitcoin logo
The bitcoin logo (Photo credit: Wikipedia)

You already know about Bitcoin, then you can probably skip this article and video.  If you have never heard of Bitcoin, then you want to stay right here and learn a lot more about what Bitcoin is.  It has the potential to change the face of the world and it is starting to really scare the big banks and entire governments that are beholden to the big banks.

We recently started researching this and Bitcoin mining.  One of the premier companies producing hardware for Bitcoin mining is presently under heavy attack from hackers as we kept getting denial of service error messages.  So it would seem that there is a lot of interest in keeping this information away from everyone.  Bitcoin has the very real potential to become a major game changer in the world as we presently know it.  Watch the video above.  It will be well worth your time.
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