Could Crypto Mining Provide a Low Cost Heating Solution? These Two Inventors Think So

People living in colder countries will know the dread of the heating bill’s arrival all-too-well. However, two enterprising men from Siberia have figured out a way to not only heat their home for free but to actually make money out of it. Using the heat generated from cryptocurrency miners, the pair have been testing out what appears to be the world’s very first Bitcoin heating system.

To secure the Bitcoin network and process transactions requires a lot of computer processing power and anyone who’s ever done a mammoth work session using a laptop on their knee will vouch for the heat that’s generated through computation alone. The two have harnessed this to heat a home and in the process are generating around $430 a month.

Those interested in cyptocurrency mining have long sought out cheap electricity and cool climates to operate in. The immense heat given off in large mining “farms” requires huge extraction units to keep processors cool. The more help miners can get from nature, the less their overall operational costs are.

With all that in mind Iya Frolov and Dmitry Tolmachyov set out to combine the problem of heating a house during a cold Siberian winter with crypto mining. Their solution was to build a wooden cottage in the Russian town of Irkutsk. The site chosen is close to numerous large hydro electric power stations and of course, being Siberia, its pretty cold. These two factors make the spot ideal to test out the prototype of their heating system.

The devices themselves heat lquid which is then pumped around a radiator system, much like a traditional gas central heating unit. Dmitry Tomochyov, builder, entrepreneur, and now crypto miner told Quartz:

People who mine cryptocurrencies use big miners and they just heat the atmosphere. And we say, “No, the environment! We shouldn’t heat the atmosphere.” We have a nine-month long heating season. We should heat our homes. The miners should not be concentrated in one place. They should be in various places, in private homes. The technology allows it nowadays.*

The Siberian inventor alludes to the issue of centralised mining and thinks his design could be a way to spread out the activity, thus diffusing the power of network actors and strengthened the Bitcoin protocol. The pair’s creation is just a prototype for now and they hope that in future, other Siberian families will heat their homes using crypto miners.


*Translation courtesy of Quartz.

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On Tuesday just past, the CME Group announced plans to launch a futures market for Bitcoin. Since then, the largest Bitcoin exchange in the US has reported an influx of users. It’s widely believed that the expectation of greater institutional money entering the market is driving the high number of registrations Coinbase has experienced.

The company reported a massive 100,000 new customers within the last 24 hours. The data was compiled by Alistair Milne of Altana Digital Currency Fund. The chief investment officer Tweeted his findings on November 2nd.

According to the San Francisco-based crypto exchange, they now have 11.9 million users. Founded in 2012, Coinbase represents one of the easiest ways to buy various digital currencies. They currently support Bitcoin, Ether, and Litecoin.

The company have been in and out of favour with many within the space. Earlier this year, their GDAX platform was involved in the Ether “flash crash“. Last month, they were under inspection by the Commodity Futures Trading Commission with regards the anomaly. Many users have also complained about network outages during crucial moments for traders. In times of high volume, Coinbase servers would frequently overload and crash the service entirely. More recently, however, the exchange has won back some fans by eradicating the waiting period for certain customers wishing to buy into a digital currency. Previously funds would be locked for several days whilst fiat funds moved. This had been the chagrin of many users.

It’s not just the number of new users registering for Coinbase accounts that’s gone parabolic since the announcement. The cost of a single Bitcoin rose dramatically from around $6,150 at the start of Tuesday, to over $7,300 at the time of writing. Many are anticipating the futures market to continue to drive the price following its launch too. The rationale behind such opinion is that many institutional investors who are unable to get exposure to the cryptocurrency at present will flood in sending the price to the proverbial “moon”.

Image: ShutterStock

Money is the fuel on which businesses run, and most ideas and ambitions will never find expression until a certain amount of capital is injected to either kick-start or establish them.

Traditionally, one of the key roles of banks and other financial institutions is the financing of businesses and industries, providing the necessary liquidity for the continuous running of the business ecosystem. This is mostly implemented in form of loans, where borrowers receive funds based on predetermined conditions and pay back over a given period of time at a specific interest rate.

Bank systems are becoming outdated

Recently, this traditional system of lending and borrowing has been losing popularity among businesses due to the stringent methods involved in accessing loans. Most businesses, especially SMEs and new startups find it difficult to keep up with the demands and conditions placed by these banks in order to access funds. Most often the demand for collaterals is too much for several startups in today’s business environment. Also, the bureaucracy and regional restrictions most times appear as limitations for borrowers to access certain loans.

By combining blockchain technology and regular convention, Lendoit is creating a robust system that will bring together lenders and borrowers from across the globe, enabling easy accessibility of funds for borrowers while ensuring the security of such funds in protecting the lenders.

“Lendoit is a decentralized peer-to-peer lending platform which connects borrowers and lenders from all over the world in a trusted, fast and easy manner using the advantages of Smart Contracts and Blockchain technology. Lendoit does NOT use Tokens as collaterals, instead, it combines efficient methods to mitigate the chances of lenders to lose their money such as 3rd party professional scoring/verification local companies, smart compensation fund, syndicated loans and a collectors market where default debt can be sold.”

Peer-to-Peer lending

Peer-to-Peer lending is the practice of matching borrowers and lenders through online platforms. Borrowers are often able to gain access to funds quickly, and typically at lower interest rates than those offered by banks, making it an attractive alternative to bank loans. These loans are often comprised of many different lenders ranging from individuals to institutional lenders.

P2P lending has experienced rapid growth as borrowers seek better alternatives to banks. The global lending marketplace market is projected to reach $290bn. by 2020, with an expected compound annual growth rate of 51% from 2014-2020.

Participants on Lendoit

On the Lendoit platform, loans can be given in any of the ERC20 currencies, and the platform has developed a disruptive ecosystem, using its Smart Contracts that serve the following participants:

  • Borrowers can apply for a loan using a Smart Loan Contract
  • Lenders can lend to borrowers, using the Smart Loan Contract, by transferring funds to the contract
  • Reputation Consumers can get information about an Ethereum address via Smart Reputation Contract for any purpose (e.g. check address before transferring tokens to it, exchanging physical assets for tokens, etc.)
  • Collectors can buy the debt in a tender using the Smart Loan Contract. The Collectors that can participate in the auction must be under applicable legal requirements and regulation in the relevant jurisdiction.

A Smart Process

The entire process of borrower application, KYC verification, loan issuance, and repayment are well organized on the Lendoit platform. During repayment of a given loan, the borrower repays the funds including the interest to the Smart Loan Contract using his wallet, the lender can then withdraw the principal loan funds from the Smart Loan Contract, in the same lending currency. However, the Lender receives the interest into his wallet in Lendoit Tokens (LOAN) after an automatic conversion using the Smart Conversion Contract, according to the current rate of the Smart Conversion Contract.

In order to maintain an efficient and secure marketplace, the Lendoit platform implements the Smart Reputation Contract, which is like a global score for an Ethereum wallet, Smart Compensation Funds Contract, which helps lenders to cover losses in case a borrower defaults on a loan among other features.

However, the platform benefits by charging a small fee from the Smart Loan Contract, paid in LOAN tokens, using the Smart Conversion Contract.


So that is another session complete for our bitcoin price trading efforts and, once again, we have had a pretty interesting day in the markets. In this morning’s analysis, we noted that we were on the lookout for any action that might imply a return to the overarching upside momentum and, in turn, would give us some nice breakout entries.

As it turns out, we got pretty much exactly what we were looking for. Things didn’t really get going until midway through the session but, once they did, we were able to really take advantage of the volatility we were seeing.

As we head into the close of the session this evening, we’re looking for more of the same.

So, with this all noted, let’s get some levels in place that we can use to draw a profit from the market as and when things move. It’s a one-minute candlestick chart and it’s got our key range overlaid in green.

As the chart shows, the range we are looking at for the session this evening comes in as defined by support to the downside at 7327 and resistance to the upside at 7499. We are going to use both our breakout strategy and our intrarange strategy for the session this evening in an attempt to give us the best chance possible of jumping in and out on one of our entries.

So, if we see a bounce from support, we’ll jump in long towards an upside target of resistance. Conversely, if we get a correction from resistance, we’ll be in short towards a target of support.

Looking at our breakout strategy, if we get a close above resistance, we’ll get in long towards a target of 7550.

Looking the other way, a close below support will have us in short towards a downside target of 7280.

Let’s see how things play out.

Charts courtesy of Trading View

Do you also believe that digital tokens should be more than just financial speculatory assets? If yes, then you are not alone as even the UTRUST team believes the same.  This revolutionary platform provides a simple, affordable, and security-conscious payment in the cryptocurrency market. They are taking online payments and trust to a whole new level. While providing protection for your digital currencies online, UTRUST also ensures that undertaking transactions online with your digital tokens become an easy, seamless task.

That’s why you should join the UTRUST ICO

UTRUST’s ICO has started from the 2nd of November, and you wouldn’t want to be left out. With a system that will provide not just a token sale, but an investment and a payment platform in itself, this ICO is going to change the way we all invest, spend, and store our cryptocurrencies across the globe.

Apart from providing seamless token spending and investment platform, the ICO also allow you to spend your tokens. The catch? Those investing in the platform stand a chance to witness the value of tokens grow with the rising popularity of the cryptocurrency platform.

UTRUST’s ICO’s Investment options: the choice is yours.

The ICO comes with different payment options. If you are somebody who uses bitcoin, then you can go the bitcoin way. If you don’t use bitcoin, you have an option of investing using the Ethereum platform, in which case, you will invest with the Ether.

Why you shouldn’t wait longer

With an investment platform that offers you a payment solution in the digital payment ecosystem, as well as state-of-the-art protection, there is no reason why you shouldn’t invest.

The UTRUST platform has already gained prominence following its recently concluded pre-ICO round. The company, in a very short period of time managed to raise 5 percent of the targeted amount, representing $50,000,000, which was sold out following the launch on August 28, 2017. The creators of the platform, with this success rate believe that they are on the right path to creating a go-to solution for digital payments where buyer and seller security is assured.

The November 2nd ICO comes at $0.065 per token. UTRUST will be looking at getting 70 percent of its target during this ICO sale, which will be representing $45,500,000 dollars, which is a lot to be raised.

Opportunities don’t come always. Take the chance to be part of something bigger, better, and security oriented. Join the ICO now.


A crypto-based domain name auction service launched earlier this year is finally gaining traction and attracting some big investors willing to pay top dollar for domain names. The Ethereum Name Service was launched on May 4, 2017; it featured an automatic registrar service enabling people to quickly and cheaply register a domain name ending in .eth via an auction.

Since its launch, the service has had almost 620,000 auctions and generated nearly 3.3 million ETH in deposits for bids. At the moment the addresses need to be at least seven characters but plan to reduce this limitation are in the pipeline. Serious bids have been coming in, some up to a million dollars, to secure an Ethereum domain name.

Names already claimed include, exchange.eth was which went for 6,660 ETH, foundation.eth went for 300 ETH, and weather.eth was auctioned for 101 ETH. The ENS works in a similar way to the Domain Name Server (DNS) that we are all familiar with today. It is a step towards mass adoption of Ethereum by making addresses easier to use. Currently, an Ethereum address is 42 characters long and not memorable, ENS enables the creation of more user-friendly addresses.

As with top-level domains (TLDs) investors are seeking the asset value in .eth names and are getting in early to hold on to them for later resale at a huge profit. This has been a huge issue with regular domain names where ‘cybersquatting’ accounts for an estimated 30% of them. According to the World Intellectual Property Organization domain holding cases and disputes have increased year on year, breaking previous records each year.

The potential with crypto oriented names could be as big as the coin market itself. The same type of speculation is now occurring with ENS that was witnessed during the dot-com bubble of the late 1990s. In order to resell or trade names, there needs to be a marketplace, and these are starting to emerge, the first being The platform provides a streamlined alternative way of transferring names using smart contracts.

Other developments with registrars, wallets and blockchain based contracts will soon emerge from what is currently embryonic technology. The potential for growth is immense, as with the thousands of regular domain name registrars around the globe, there could be a similar future for ENS or other crypto-based name systems.

Cryptocurrency ATMs have become increasingly popular as of late. Although not every country has such a device, things are evolving in the right direction. Several operators even support a few altcoins these days. BitcoinPlug has made an interesting announcement in this regard. The company will enable Bitcoin Cash on all of their Bitcoin ATMs throughout Los Angeles.

Making Bitcoin Cash more accessible to consumers is a big challenge. More specifically, there are plenty of exchanges who support BCH. However, the number of fiat markets is still pretty small, for some reason. LocalBitcoinCash is one platform attempting to alleviate this situation in the future. It now seems BitcoinPlug has also come up with a plan to make this process a lot easier. Although only available to residents of Los Angeles, it is an interesting precedent regardless.

BitcoinPlug Makes a Bold Decision

More specifically, the company wants to introduce a new altcoin through their Bitcoin ATM network. Bitcoin Cash will be supported in the very near future. No official date has been communicated at the time of writing. We do know all of their Los Angeles ATMs will receive this upgrade around the same time. This is big news for the company, to say the very least. They operate a total of 21 Bitcoin ATMs throughout California right now. Quite a few of these are located in Los Angeles itself.

It is important to note these are not two-way ATMs. Customers will be able to buy Bitcoin Cash but not sell it. It is possible that functionality will come later on, but for now, there is no official confirmation. Bitcoin Cash will be the third currency provided on these ATMs. Earlier, BitcoinPlug already enabled Litecoin support as well.  An interesting choice, to say the very least. It also shows how popular BCH really is these days.

It will be interesting to see whether or not other operators will follow this example. More specifically, there is a big market waiting to be tapped in this regard. Altcoin demand is reaching new heights every single month. It is evident these ATMs are gateways for conveniently purchasing cryptocurrencies. Adding altcoin support makes a lot of sense. Bitcoin Cash is an interesting choice for BitcoinPlug. For now, no one knows if there will be enough demand to justify the decision.

So here’s a look at what we’re going to do in the bitcoin price today. We’ve had a pretty darn good week so far, with price serving up a great combination of volatility and upside momentum. In many ways, that’s the perfect combination as it allows us to jump into plenty of breakout trades while also being able to stay in the trades for a sustained run.

If we get a continuation of this sort of action today, we can close out the week on a high.

Of course, if we don’t then we can adapt our strategy to ensure we don’t miss out on any potential opportunities just because we’re focusing too much on ideal positions.

So, with this all noted, let’s get some levels in place that we can use to jump in and out of the markets during the session today, whatever happens. As ever, take a quick look at the chart below before we get started. It’s a one-minute candlestick chart and it’s got our key range in green.

As the chart shows, the range we are going to use for the session today comes in as defined by support to the downside at 7327 and resistance to the upside at 7499. That’s a pretty wide range that we’ve got for today, so we can use intrarange if we get an opportunity. Long on a bounce from support, short on a correction from resistance.

For our breakout strategy, we’ll be jumping in long towards an immediate upside target of 7550. A stop on the trade at 7475 looks good.

Looking the other way, if we get a close below support, we’re going to get in short towards a downside target of 7280. A stop on this one somewhere in the region 7345 will ensure we are taken out of the trade in the event of a bias reversal.

Charts courtesy of Trading View

Cryptocurrency miners are always looking for the most profitable coin. For a lot of people, that has been Bitcoin, as far as SHA-256 mining is concerned. As of right now, it is far more profitable to mine Bitcoin Cash. According to Fork Lol, this situation may continue for quite some time to come. Given the SegWit2x drama on the horizon, a lot of things will change by the look of things.

A lot of people will always mine Bitcoin first and foremost. It is the world’s leading cryptocurrency now and will be for some time to come. Moreover, it is the only coin that gives people access to nearly all “airdrops” of forked coins that may matter in the end. Without Bitcoin, no one would have BCH, BTG, or soon B2X. It is evident the world’s leading cryptocurrency still has a lot of momentum in its favor. However, there is some competition emerging as we speak.

Bitcoin Cash Mining is More Profitable

Most of this competition comes from Bitcoin Cash right now. This particular altcoin has soared in value over the past week. No one knows why exactly, but it is the hand we’re dealt. This has also affected the mining profitability of both BTC and BCH. More specifically, it is now more profitable to mine Bitcoin Cash cover BTC. Although this situation changes a lot lately, the current trend may remain in place for some time to come.

Fork Lol seems to indicate BCH mining will remain more profitable for some time. More specifically, the seven-day average has flipped in favor of BCH. Although this situation hasn’t been locked in yet, it is a very real possibility. Even at a rate of 1.06 times the normal BTC earnings, some miners will be tempted to make the switch. Interestingly enough, this trend seems to manifest itself close to the Bitcoin Cash hard fork itself. That fork will introduce some changes to the current mining difficulty algorithm.

For the time being, no one knows how things will play out. Bitcoin is on everybody’s mind right now, that much is evident. The current price momentum clearly favors BTC as well. However, BCH is making a very strong comeback out of the blue. There are some interesting changes on the horizon, to say the very least. A profitability change and SegWit2x near the same time will shake things up quite a bit. It is unclear how this will affect Bitcoin as a whole, though. The next few weeks will be extremely interesting to keep an eye on.

Key Highlights

  • Ethereum classic price fell below the $10.00 handle recently against the US Dollar.
  • There is a major bearish trend line forming with resistance at $10.40 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
  • The pair is struggling to break the $10.40-10.50 resistance and remains at risk of more declines.

Ethereum classic price struggle to move higher continues against the US Dollar and Bitcoin. ETC/USD is facing a major resistance near $10.40-10.50.

Ethereum Classic Price Resistance

There was a downside reaction towards $10.00 in ETC price against the US Dollar. The price even broke the $10.00 handle and traded as low as $9.70. Later, the price started an upside correction and traded above the 23.6% Fib retracement level of the last drop from the $11.00 high to $9.70 low. However, buyers were seen struggling near the $10.40 resistance, which was a support earlier.

There was a rejection near the 50% Fib retracement level of the last drop from the $11.00 high to $9.70 low at $10.35. Above $10.35, there is a major bearish trend line forming with resistance at $10.40 on the hourly chart of the ETC/USD. More importantly, the 100 hourly simple moving average is also near the $10.45 to prevent upsides in the near term. A close above the 100 hourly SMA and the $10.40 level is required for buyers to gain control in the near term.

Ethereum Classic Price Technical Analysis ETC USD

The most important resistance on the upside is at $11.00, which a crucial pivot region. On the downside, the $10.00 level is a good support followed by the recent low of $9.70. Below the mentioned $9.70, the pair might head towards the next major support at $9.20. Overall, ETC remains a short-term sell near $10.40 and $11.00.

Hourly MACD – The MACD is slightly in the bullish zone.

Hourly RSI – The RSI is moving north and is above the 50 level.

Major Support Level – $10.00

Major Resistance Level – $10.40


Charts courtesy – Trading View, Kraken