The concept of cryptocurrency cloud mining
The purpose of technology is to make things easier for mankind and we can all attest to how technology has brought ease and comfort. Also, we have witnessed a lot of daily technological developments/ advancements in almost every sector of life today. The internet being the most outstanding technological advancement as birthed a lot of developments. One of such development is cloud mining of cryptocurrencies (bitcoin and alt coins).
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To better understand cloud mining, one must first understand the concept of cryptocurrency mining and cloud computing. Briefly, cryptocurrency mining entails the verification of transactions and adding them (time-stamping) on the blockchain, where it is visible to the whole community. Crypto mining can also be said to be the process where new coins are being released in the form of mining rewards. One can then say that there are majorly two types of cryptocurrency mining which includes; the conventional mining process and cloud mining.
On the other hand, cloud computing has to with the availability of computer system resources, data storage and computing power on the internet, where users can tap into to carry out operations. Note, this resources are only made available and accessible to users who demand (pay) for it. It entails sharing of computing power and other computer system resources hosted at one station by various users via the Internet.
Having established these facts, it is clear that cloud mining is developed based on the cloud computing concept. By definition, one can say that, cloud mining is the process of mining cryptocurrency with the help of purchased computational power. It can also be said to be the process of mining cryptocurrency through leveraging on another person's/station's mining tools (hardware). Cloud mining was being developed owing to the fact that setting up a mining rig could be extremely expensive. As expected, this technology has its merits and demerits. ref https://www.investopedia.com/terms/c/cloud-mining.asp
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**Merits of Cloud Mining**
- mining cost reduction: like aforementiined, with cloud mining, a person doesn't need to go buy his own hardwares and other mining devices to set up a mining rig which is usually capital intensive. All you need do is pay a cloud mining station some money and then you have access to mine using their equipment.
- management of equipment and maintenance is done by the host station.
- the host station bothers about power supply (electricity) for the mining rig
- cloud mining allows for even novices in the space to mine cryptocurrencies. With cloud mining, you don't really need to have a high technical knowledge about cryptocurrency mining to participate. All you need do is locate a trusted mining platform and lease computational power.
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**Demerits of Cloud Mining**
- mining rewards are low compared to those who mine using their equipment.
- cloud miners have no control over the running of the mining rig in the case of an outage.
- cloud vendors could fold up anytime and this means, mining stops for the cloud miner.
**Cloud Mining Platforms**
In case you are in need of cloud mining services, below are a few recommendations;
[HashFlare](www.hashflare.io) **Mining Platform**
According to Hashflare company [about](www.hashflare.io/company), it is one the largest computational power vendors and they offer cloud mining services for cryptos like Bitcoin, Ethereum, Litecoin etc but after you must have paid the stipulated service fee. More so, HashFlare was created in 2015 and it has continued to record an increase in the number of users. Find out more about the company [here](www.hashflare.io/company)
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`The team of HashFlare LP has always put the task of making mining accessible not only for cryptoenthusiasts but also for common users. Through tremendous work made by the engineers, developers and other specialists of the company as well as partner companies, we have succeeded in providing the service to over 2,500,000 users. Source`
Genesis Mining **Platform**
Another popular cloud mining platform is Genesis Mining. They provide computational power to cloud miners with the help of their large mining farms located at various locations. Find out more on their [website](www.genesis-mining.com)
Cloud Mining is indeed a great technology in the cryptocurrency space. It has helped in making cryptocurrency mining easier and accessible even to crypto beginners.
Posted Using my blog: https://leofinance.io/@tomlee/the-concept-of-cryptocurrency-cloud-mining
HaggleX Launched: Participate in the Ongoing HAG token pre-sale
There are lots of ways to make tangible profits from cryptocurrency and they include; staking, lending, curating, mining, buying low and selling high. Also, one of the ways of making gains from a cryptocurrency project is by investing during its pre-sale or initial coin offering stage. This strategy tends to give one an advantage over those who invest when the token is being listed on an exchange. It should be noted that not all cryptocurrency projects embark on pre-sale and some choose this option as a way of raising funds to run/ finance the said project.
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Hagglex is a novel crypto project which was launched on October, 2020 in view of enabling Africans tap into the vast opportunities in the cryptocurrency space. It is said to be a multi-currency blockchain-based global marketplace that allows anyone to access the world of DeFi and NFTs. More so, HaggleX allows for secured peer-to-peer crypto trading, lending and borrowing. Interestingly, HaggleX solves the problem of exchanging cryptocurrency for utility and also provides a secure non-custodial OTC platform and wallet. https://ico.hagglex.com/invite?ref=UD00319
HoDLing cryptos for long term has been a difficult task for many being they tend to easily sell-off in the face of mild pumps. However, HaggleX offers a solution as its wallet provides a new model where its users can save their digital assets using its “Bitsave” feature. Other functions of HaggleX can be found in their WhitePaper https://ico.hagglex.com/docs/hagglex-whitepaper.pd
Furthermore, HaggleX has a native token with a ticker (HAG) built on the EOS blockchain. HAG is a utility token that powers the HaggleX platform. HAG has a burning feature that reduces its supply when transactions are made. HAG token had a maximum supply of 10,000,000 with a circulating supply of 1,000,000. Upon listing on exchanges and other trading platforms, 1 HAG would sell at $1. https://ico.hagglex.com/invite?ref=UD00319
Meanwhile, HaggleX is currently running its pre-sale for the HAG token which began on October 16, 2020 and it is set to last for a period of one month only. The token is currently selling at a 20% discount rate ($0.8). You might want to take advantage of this investment opportunity. Token can be bought with USD, NGN, BTC, ETH, EOS, XLM and other supported tokens.
Here is why you should buy the $HAG token according to HaggleX Chief Marketing Officer, [Samuel Joseph]: https://everipedia.org/wiki/lang_en/joseph-samuel-daniel-3
HAG token gives you access to earn on HaggleX platform. With our unique token economics and Blockchain infrastructure, Hag token will bring a wide range of benefits (both in price and use case) to its holders. He futher noted that "there are unlimited use cases of blockchain technology and those use cases are yet to be tapped in Africa." And this why the HaggleX ecosystem was being developed. Read here to know more about why HaggleX was being developed and its use cases and applications.
Noteworthy is that HaggleX has partnered with reputable companies within the crypto and finance sector in order to enhance the funding of the project. They include LightBlocks, SiBAN, EOSnation et al.
What are you waiting for? It's just 22 days left (as at this post) before the end of the HAG token pre-sale. You can buy the token here:
https://ico.hagglex.com/invite?ref=UD00319
Ndianabasi Tom https://www.linkedin.com/mwlite/in/ndianabasi-tom-22189313a
Writer/ CryptoTrader
Posted on my LeoFinance blog https://leofinance.io/hive-167922/@tomlee/hagglex-launched-participate-in-ngoing-native-token-usdhag-pre-sale
OkEx exchange suspends cryptocurrency withdrawals
According to a news release by OKEx in the early hours of Friday, 16th October, 2020, there has been an indefinite suspension of digital assets' withdrawals on the exchange. This implies that, for the time-being, OKEx users will not be able to move out their funds from their exchange account to an outside wallet. However, it was noted that other functions of the cryptocurrency exchange will still remain normal and stable. The notice also read that, the security of users' assets on OKEx will not affected. As we all know, this will bring a lot of inconveniences to most users of exchange but good thing is that users' funds are safe.
**Reason for Suspension of Withdrawals on OkEx..**
Incase you have that question in mind, here's the answer!
According to the OKEx's announcement,
withdrawals was being halted owing to the fact that one of OKEx's exchange private key holders is currently "cooperating with a public security bureau for investigations purposes". Because of this, the exchange "have been out of touch with the concerned private key holder". As such, associated withdrawals authorizations cannot be completed on the exchange, giving reasons for the temporary suspension exercise.
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*>"In order to act in the best interests of customers and deliver exceptional longtime customer service, we have decided to suspend digital assets/cryptocurrencies withdrawals as of [October 16, 2020 at 11:00 (Hong Kong Time)]."*
More so, OKEx CEO Jay Hao claims that the key holder's cooperation with the security bureau will in no way affect the exchange's business adversely as it is a personal concern. And promises to resume digital assets/cryptocurrencies' withdrawals once the concerned private key holder is able to authorize the transaction.
News is one of those things that moves the cryptocurrency makets. So, we saw some coins like OKB and BTC plummeting in response to the OkEx news. The price of bitcoin on OKEx exchange dropped sharply by about 3%, hitting $11,182 mark price before a rebound was observed. Similarly, OKEx's native token, OKB tanked by about 15%.
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OkEx Announcement here:
https://www.okex.com/support/hc/en-us/articles/360051090391-Suspension-of-Digital-assets-Cryptocurrencies-Withdrawals
Posted on my Leofinance blog: https://leofinance.io/hive-167922/@tomlee/just-in-withdrawals-suspended-on-okex-exchange)
1xBit adds EOS
Online betting or gambling is one of things that is prevalent in our society today. We see a lot of football, basketball and other sports betting websites. In Nigeria, there are lots of betting houses/ shops and people troop in numbers daily. Sports betting to me is a thing that has come to stay although I stopped betting a long time ago being I was always unlucky.
Before now, sports betting could only be done with fiats but things have changed now. We are equally seeing many cryptocurrency betting sites like 1xBit. 1xBit is a popular online gambling platform where users can play using some of the well-known cryptocurrencies. Meaning, you can place your sports betting with bitcoin and other accepted coins. Suffice me to say that, Bitcoin gambling is the latest groundbreaking innovation in the industry and 1xbit is here to make easy and interesting for you.
For sports gamblers here, 1xBit is providing for you an easy registration process; within a few minutes, you can set up your account and begin to use their services. Interestingly, 1xbit offers instant no-fee deposits and withdrawals of funds. It also gives you the most competitive odds and wagering options. More so, it gives room for live betting of most sport events, ONLINE poker, top casino games and there are lots of rewards and bonuses. If interested, you can join 1xbit to explore the best bitcoin gambling options in the world.
October 8th 2020, Limassol, Cyprus – 1xBit Casino Sportsbook has announced its support for one of the markets hottest cryptocurrencies, EOS. The PoS (delegated-proof-of-stake) token is used on the EOS platform for developers to build Dapps, but also offers the everyday user a rapid, free transfer of value. With these efficient attributes at the core of the EOS token, 1xBit instantly saw a great use-case for its service, and great benefits for its loyal community of players.
Before now, 1xbit only accepted 25 cryptocurrencies which included Bitcoin, Litecoin, Dash, Ethereum, Ripple, Tron, Sia, ZCash and others. However, according to a news, 1xBit has increased their accepted cryptocurrency lists by adding EOS. Hence, users can also place bets using EOS. This is a good development by 1xbit being that EOS is ideal for gambling.
I say so because EOS allows for cheap and quick transactions. This makes it very suitable for gambling dapps. With the increase in Ethereum gas prices, this development comes in quite handy and will give a better alternative to users of the platform. Unlike Ethereum where users have to pay for every transaction, EOSIO eliminates this by having a network that handles these costs therefore allowing users of the platform to gain access to its resources without having to pay extra fees.
Are you a gambling enthusiast or one who likes sports betting? 1xBit.com is one of the bitcoin betting sites where everyone can earn bitcoins. To play, you just need free internet connection, due to which you can wager on matches online. At present, odds on betting are quite high, and the online sports betting is also an excellent opportunity and avenue to earn cryptocurrency. However, remember that there are risks involved.
First published on my blog here; https://leofinance.io/hive-167922/@tomlee/1xbit-sports-betting-now-possible-with-eos-and-other-cryptos
Management of Working Capital
Before you can start any business or company, capital is being needed. Capital is broad but there's what is termed as working capital. I remember when I wanted to venture into cryptocurrency trading and I had no prior knowledge. So, I needed money to first pay and learn the basics and needed knowledge. Secondly, I also needed cash for the actual crypto trading business. Both are capital if you ask me but the later is what could be termed as working capital.
Working capital is that initial funds required to start a business and it is what keeps the business alive. Without a working capital, there can't be any business and when you have this working capital, it is very important you manage and utilize it appropriately. Losing your working capital is more or less being out of business. And gathering funds all over again could be very difficult.
Personally, there was a time I lost my working capital while doing futures trading. It was so frustrating and it took me quite some time to recover and be back in the business. The loss I experienced could be attributed to some bad and wrong calls I made. So, it is important to ensure that your working capital is always secured. Yes! Losses will come in business but do your best not lose your working capital. It is the life of any business.
With respect to firms, management of working capital is concerned about the management decisions on a firm's current assets and its current liabilities. Current assets, by their very nature, are changing daily, if not hourly, and managerial decisions must be made. The management of firm's or individual's working capital is a very important aspect of the overall financial management.
More so, current assets must be large enough to cover current liabilities to ensure a reasonable margin of safety as well as maintaining an acceptable level of net working capital. Also, current assets should account for more than 50 percent of assets while current liabilities should be about 30 percent of total financing. Hence, increase assets and reduce liabilities.
In a firm, major current assets include cash, marketable securities, accounts receivable and inventories. While current liabilities are accounts payable, notes payable, accruals wages, rent, interests, taxes etc. In all, they must be managed so as not to keep too high a level of each while maintaining firm's liquidity.
First published here:-https://leofinance.io/hive-167922/@tomlee/why-you-should-manage-your-working-capital
Limited Access to Funding: A Problem for the Small-scale Businessman
Perhaps the most publicized problem of the small-scale businessman is the inadequacy of capital funds. This problem is further aggravated by institutional bottlenecks, which limit the accessibility of equity capital to local businessmen. Financial institutions, especially the banks, operate under such stringent rules that seldom favour the new small-scale businessman.
Usually, banks require financial and legal documentation as well as acceptable collateral prior to sending funds. Those requirements are often difficult for the small-scale businessman to meet. Also, banks prefer to lend "short" and in favour of large corporate borrowers whose risk of default is deemed to be relatively low.
Long term and equity investments, where they exist, constitute a negligible portion of banks' portfolio. This high preference for liquidity runs counter to the long-term capital requirements of small-scale enterprises.
For example, in Nigeria, only about 35% of the economically active population is serviced by the formal financial system while 65% is serviced by the informal financial sector such as friends, relatives, money lenders, credit unions and non-governmental organizations.
Many small-scale businesses are unable to benefit from the formal financial system due to inability to package requests for funds properly and lack of acceptable collateral. But while the informal sources of funding might have sufficed for highly localized and very small operations, contemporary small-scale businesses demand less volatile sources of external funding.
It is worthy of note that small-scale enterprises hold an enormous potential to impact the economy positively in spite of their inherent limitations. Hence, government should look into making funds easily accessible to the small-scale businessman. Government should also expand the financial infrastructures and instituting finance policies that would favour the small-scale businessman. Non-governmental organizations on the other hand are encouraged to venture into micro-business funding of some sort.
First published on my blog here... https://steemit.com/hive-175254/@tomlee/limited-access-to-funding-a-problem-for-the-small-scale-businessman
Why Everyone Can't Be Successful
Everyone wants success in life but the sad truth is not everyone will find or achieve success but everyone could be successful. Yes! You heard that right. Not everyone will get to the peak of their lives; not everyone will be rich and wealthy; not everyone will have the life they wish for. The poor and the unsuccessful ones will always be among us.
But does this mean that some persons were born to suffer? Or born to be poor and unsuccessful? Or that nature just hates some and favours some? If you ask me, I'd say NO!.
Failure is not even a matter of fate. Okay.. let's just assume that, there is something called bad fate which I don't want to believe there is, truth is, the power to change fate is in us.
You see, there are always two things in life. We have success and we have failure; there is prosperity and there is poverty and so on. What we make out of life, what we become in life is entirely centered upon and is a function of "CHOICE" and choice alone.
The moment you are able to take control of your choosing capability, success that seems hard will become the easiest thing for you. There is power in choosing right!
The difference between the successful man and the unsuccessful man is this same issue of choice. The successful man can be characterized as one who always makes the right and rewarding choices in life. Whereas the later is one who chooses to tread on a path that is unfruitful and unrewarding.
This is the reason I opined in my opening sentences that "not everyone will be successful in life." Elucidating, the world is full of people who make the wrong choices all the time. We get to see many who prefer being immoral, loves to cause nuisance and enjoy keeping bad companies. There are many who deliberately avoid the processes that leads to success but prefer short-cuts. They fail to know that short-cuts can not yield a lasting and sustainable success.
We also see people who go to school but instead of being studious and hard-working, they choose to play truancy. Many decide not to discover themselves, their talents, potentials and gifts but prefer to live in other's shadow. Many have refused to subject themselves to learning and mentorship yet they desire success. How can that be?
On the other hand, we see those who choose to learn and be taught, those who choose to not run away in the face of challenges instead facing them squarely. Those who are always determined, focused, purposeful, creative and innovative. Those who pleasure in learning, studying, researching and making discoveries. Those who choose to surround themselves with friends that are not toxic.
This is a clear picture of choice. Success in life only comes to those who consciously and deliberately make the right choices. Man was created with that ability to make choices and decisions in life. We shouldn't use this to our own detriment by always choosing wrongly.
Learn to always choose rightly. Choose faith over fear, choose hardwork over laziness, choose good over bad, choose humility over pride and choose love over hate. No man has ever made the right choices and ended up a failure.
***Make it a Choice to be Successful!!!***
The Faithful Christian
**Welcome to My Blog!!**
Biblical faithfulness denotes that which is firm and can be dependable. It is a firm adherence to promises or observation of duty. It implies being dependable, reliable, trustworthy, and loyal. Thus, a faithful person therefore is one that is loyal, reliable, trustworthy and can be counted upon in all his relationships. He is ethically honest and reliable in his relationships and duty.
Let's consider this Bible scripture; Daniel 2:1-6
`verse 1: It pleased Darius to appoint 120 satraps to rule throughout the kingdom,`
`verse 2: with three administrators over them, one of whom was Daniel. The satraps were made accountable to them so that the king might not suffer loss.`
`Verse 3: Now Daniel so distinguished himself among the administrators and the satraps by his exceptional qualities that the king planned to set him over the whole kingdom.`
`Verse 4: At this, the administrators and the satraps tried to find grounds for charges against Daniel in his conduct of government affairs, but they were unable to do so. They could find no corruption in him, because he was trustworthy and neither corrupt nor negligent.`
`Verse 5: Finally these men said, “We will never find any basis for charges against this man Daniel unless it has something to do with the law of his God.”`
`Verse 6: So these administrators and satraps went as a group to the king and said: “May King Darius live forever!`
From the scripture above, we see that Daniel was trustworthy and faithful in all his dealings and transaction. We serve a faithful God; a God that does not go back on His promises. God is just too faithful to fail. This is why we need to be faithful to God always.
**Who is a Faithful Christian?**
Yes! We are Christians, we believe in Jesus Christ but the question is; are we faithful to God in service to Him and in all our dealings? To err is human that I know but we should not make erring a lifestyle. Determine to be faithful to God. Make that decision today!
(1) **ABSOLUTE HONESTY**: The faithful Christian should be absolutely honest and truthful always. Lying and deceitfulness should not be found around him. A faithful Christian should not be corrupt rather he or she should always be ethical, principles and well-mannered. Our case study Daniel was not corrupt and that's why God exalted him even in a strange land. Christians are commanded to be absolutely honest in business transactions, social interactions and religious dealings. Absolutely honesty has to be the Hallmark of a faithful person.
(2) **UTTERLY DEPENDABLE**: If God cannot depend on you then you are yet to be faithful. We need to build ourselves to a point where we can be be trusted with responsibilities. Daniel was reliable and dependable in the governmental affairs. He kept his committment, honoured his word and always ready/ willing to affect others positively. Dependability should be found in a Christian in both spiritual and social obligations.
(3) **UNSWERVING LOYALTY**: Loyalty arises most often in connection with our friends, neighbours and church members. If a person's loyalty does not ensure his faithfulness to another in times of stress then his loyalty is not really a good one. He is simply using the other to satisfy some of his own social needs. As Christian, our loyalty to God should always be intact no matter the circumstances we find ourselves in in life.
It is not just enough to be a Christian but be a faithful one. Be faithful to God and to men. Remember, it is required of us Christians to be faithful as stewards of God's mysteries.
Let me leave you with this Bible verse...Proverbs 20:6
***Many claim to have unfailing love, but a faithful person who can find?***
First published on my *blog* https://peakd.com/hive-114345/@tomlee/the-faithful-christian
Hello Read.Cash Authorities: Got a Minute?
Welcome to my Blog!
Whatever I do, I like to do it right.
This is why I am asking this question so I get clarified and also avoid being penalized on the platform.
I heard of the read.cash platform about 3 months ago. Aside from my introduction post, I haven't been really active on this platform except today. Meaning that I don't really know how things work around here.
Being that I am set to be very active on read.cash, I ask:
***Assuming I have a personal blog or a blog on any other blogging site, is it allowed or permitted on this platform for me to share an article I previously posted there?***
I'd really appreciate your answers and clarifications.
Thank you
*Tomlee*
Towards a Successful Business: The Necessity of Defining Your Market
***Hello there,***
***Welcome to My Blog!***
***I hope you find this piece informative, interesting and insightful!***
In starting a business, it is always necessary for the entrepreneur or business owner to first of all define his market. That is, knowing those set of people he is going to serve. The knowledge of this is what helps the entrepreneur to properly locate and advertisement his business. On the contrary, not being able to define the market could be a pitfall for your business venture. Poor market definition could lead your business to extinction.
The market is really vast so, there is no way one business can adequately serve the whole market. It's either there will be limited supplies being that the demand would be high or inaccessibility for some persons. This is why we have numerous businesses serving the masses at different levels and stages.
We have the large-scale business ventures and the small-scale business ventures. The large-scale serves a wider range of the market while the latter serves a smaller market size depending on their business capacity and strength. Oftentimes, small-scale ventures do not aim at serving the national market because they are aware of the fact that competition from bigger and popular operators would give them no room to survive and scale through. At the national level, the larger businesses would always have an upper hand.
This is why small-scale businesses always decide on the persons or group of potential buyers to serve. Now, buyers and customers vary depending on their preferences, taste, lifestyle, gender, income level, location amongst other factors. It is these differences in customers that creates market segmentation. So, a particular business cannot target everyone; there has to be a unique segment it targets, could be the male or female segments, high-income or low-income earners, children or adults, etc.
By definition, a market segment is a combination of several market niches. Hence, the entrepreneur should be able to know those prospective sects or identify the market niche that would appreciate the business venture or products and services he is presenting and then focus on gaining their attention. This is the crux of the matter; attention of customers is being earned. The entrepreneur should know how to draw the attention of customers could be through advertisements, value proposition statement, branding, etc.
The significance of market segmentation stems from the desire to identify the needs, preferably peculiar needs, of the population of interest with a view to satisfying such needs at a profit. Defining the market is thus one key component of a business strategic planning as it involves the break-up of an identifiable community into subsets of target populations for the purpose of analyzing the peculiar purchase characteristics of each niches.
*PS: This article was first published on my* ***blog*** https://hive.blog/hive-175254/@tomlee/towards-a-successful-business-the-necessity-of-defining-your-market
Introduction: Beginning on Read.Cash
Hello everyone on this amazing platform! Believe me, I am so excited to have come to the knowledge read.cash. To me, it is an awesome opportunity and I hope to maximize duely.
****About Me:****
There is a whole lot about me but all cannot be covered just in this single blog post. My name is Ndianabasi Ime Tom and I am a Nigerian. I am a graduate of Petroleum Engineering. More so, I am writer and a blogger; the blogging business actually began on Steemit and since then, I have always been on the look-out for blogging sites based on blockchain technology. Currently, I am a content contributor on reachiiing online-magazine.
I am a passionate teacher and singer. I take pleasure in educating and transferring/ sharing knowledge with others. As we know, knowledge should not be hoarded but shared. My hobbies include; watching and playing football, reading of motivational, inspirational and Christian-related books and magazines. In addition, I am a researcher, graphics designer, copywriter and a data analyst.
More so, I am of the school of thought that, "There is no limit to what we can achieve, if and only if we are determined, purposeful and focused." Determination they say is the key to success. Also, I believe that nothing good and lasting comes quite easy; one has to work hard for what he wants.
My core values are honesty, integrity, hard work, discipline etc. I try to always give my all to whatever I embark on and I am determined on making the most out of this life-changing platform.
Since my interest are on areas such as cryptocurrency, motivational, freewriting, oil and gas, Christian-faith, technology, engineering etc, I will be publishing on these in this platform. Trust me, you will find them interesting and insighting.
I'm glad to be here and I promise to abide by all the rules and contribute to the growth of the platform.
*Regards,*
*Tomlee*
@tomlee
