Search Results

Thursday, 15 February 2018

Kurecoin: A Coin from Africa by Africans to the world

A Coin from Africa by Africans to the world
A brand new cryptocurrency coin is launching with the mainstream African user in mind. KureCoinHub, a self-service banking platform built into a decentralised system based on smart-contracts on the Ethereum blockchain. It has been described as the largest cryptocurrency project in Africa.

KureCoin was created as an investment solution to help Africans rise above the poverty line, by developing a unique access point for the mainstream user into the cryptoeconomy.
The KureCoinHub is a trifecta of a bank, an exchange platform called KUREX and the coin called KURECOIN. KureCoinHub runs on a highly secure system, built with the proof of stake algorithm based on Ethereum smart-contracts, which have been said to be perfectly suited to direct buyer-seller interaction.

According to the founder and CEO, Tega Abikure, KureCoin was created to function as a much easier way to buy and sell. His team identified an opportunity to use blockchain technologies to solve problems such as access to capital by creating a system of zero collateral loans using your crypto assets; leveraging on the ease of transaction and exchange of bitcoin, alt coin and Naira or other local fiat currency.

The KureCoinHub platform is poised to solve the problems of current payment systems, which involve too many intermediaries and impose many restrictions, especially when it comes to international payments.

KureCoinHub entered the marketplace with a Pre-ICO, soon to be followed by the ICO phase and plans to continue to gradually improve the hub which is the bank. Soon, the Hub will have enough functionality for people to start selling/buying coin. Then we have our exchange coming soon.

On the ICO, Tega Abikure said, “As an investor, my primary need is to get my money to work for me. An ICO offers the public that opportunity. This is a revolutionary ICO aimed at solving the problem of liquidating your bitcoin in order to access cash denominated in local or fiat currencies. We wanted to solve real a world problem, not just try to reinvent finance away from the traditional banking system.”

The ICO is not aimed solely at crypto investors, but for the larger banking industry. Built with wealth creation for the African individual in mind, investors in KureCoinHub are set to receive competitive returns on their investments. KureCoinHub is poised to be the first blockchain bank, launching with a range of products and services, including lending against an individual’s crypto-based assets and KURECOIN.

KureCoinHub restricted the maximum number of subscribers at the Pre-ICO to a limited number of people in order to provide an individual approach and maximum security within the available resources. The hard cap for the ICO is 
60,000 ETH, which the team believes is what is needed to release a finished product backed by good marketing, legal organization and community management.
KureCoinHub is also trying to tackle the global perception that Africans are fraudulent with this move. “We want Africans to know they can trust Africans; we want the world to know that there are African men who can be trusted. Our company is based in Lagos, Nigeria. We are always on all media platforms speaking to people about the need to do the right thing. ICO scam is not exclusive to Africa, it happens on every continent”, said Abikure.

For more information and a chance to be part of this click 

Tuesday, 6 February 2018

Bitcoin Miners Face Dilemma as Only Strongest Survive at $6,000

By Justina Lee (Bloomberg)

Bitcoin Miners face dilemma.

Bitcoin miners face a reckoning as the cryptocurrency’s tumble wipes out profits for all but the industry’s most efficient operators, according to Bloomberg New Energy Finance.
Only miners with access to “very cheap” electricity of about 6 cents per kilowatt hour or less can stay profitable after Bitcoin slumped to $6,000 on Tuesday, said Sophie Lu, an analyst at Bloomberg New Energy Finance in Beijing. 
If Bitcoin stays this low for more than a couple of weeks, miners with high operating costs will leave the market, she said.
“There are definitely some miners who are already out of the money,” Lu said, adding that the industry’s most efficient players can keep going until $3,000.

Bitcoin’s meteoric rise to nearly $20,000 last year prompted hordes of new miners to enter the fray -- everyone from individuals with a single machine plugged into their bedroom wall to companies with giant server farms powered by hydroelectric dams. With prices in the stratosphere, the Bitcoin-denominated rewards that miners received for verifying transactions more than covered the cost of electricity and computing power.

But the economics are much less compelling now that prices have tumbled and the difficulty of mining Bitcoins has increased. The industry’s daily revenue plunged to $16 million on Monday from a record $53 million on Dec. 17, according to
“If you buy mining equipment now, it’s no longer profitable,” said Zhou Shuoji, a founding partner at FBG Capital, a Singapore-based cryptocurrency investment company.

In theory, Bitcoin should find support as its price approaches the cost of mining a new coin, 
Zhou said: The cryptocurrency’s value is also a function of its demand, and right now that’s looking shaky as worries over tighter regulation around the world send investors for the exits.