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Swiss Alps Mining ICO Review
Anyone in the cryptocurrency community is probably familiar with how mining for coins and tokens work. You invest in an expensive mining rig and prepare yourself for the largest energy bill you have ever seen. Depending on which cryptocurrency you are mining for, you might make some profit. Meanwhile, actual mining for raw materials is also an expensive endeavor that consumes a lot of power. Both kinds of mining can potentially be very harmful to the environment. Swiss Alps Mining is an ICO by the company Swiss Alps Energy AG (SAE), and it proposed a solution to the problems with both real mining and cryptocurrency mining. The team has made a plan that includes putting unused buildings in the Swiss Alps to good use, and base their mining operations there. The aim is to reduce energy usage by half, and in this way, help maintain the environment.
What is Swiss Alps Mining?
Swiss Alps Energy AG is the company behind this ICO, and they are the first company to use mining stones that are supported by renewable energy, as well as the waste heat from the mining equipment. This will cut electricity costs down to half of that other mining companies use. One of the aims of the company is to make mining more profitable, save energy, protect the environment, and help maintain the cultural heritage of Switzerland. The funds collected from this ICO will be spent on developing the mining facilities.
How does it work?
Swiss Alps Energy AG is all about cutting costs, and so the distribution-based ledger energy supplier and an operator utilizing a string of unused buildings in the Swiss Alps. This is a win-win situation for the company and the government. The company gets a base of operations where they can work uninterrupted, and in return, they help maintain the buildings.
Who is behind it?
The team behind the company and the ICO come from a diverse range of backgrounds. Some are experts on blockchain technology, others are cryptocurrency miners and yet others are hyper ledger specialists. Blockchain expertise is not enough for this kind of project, however, so the Swiss Alps Energy AG team also includes civil and infrastructure engineers, as well as energy experts.
How did the project come about?
One of the rationales behind this ICO is the extremely high energy costs associated with cryptocurrency mining. Depending on where you are in the world, the costs of mining for coins and tokens can be so high that it is not financially feasible. At the same time, the massive energy consumption is not doing any favors for the environment, given that fossil fuels are still being used to power most of our electricity. With many unused buildings standing, well, unused, the team decided to develop a project that could utilize environmentally friendly mining processes and base their operations in the unused buildings.
What about the tokens?
The native currency for this ICO will be the SAM tokens, which will be using the Ethereum blockchain and its smart contract technology. This means that the SAM tokens will be exchangeable for other cryptocurrencies, as well as fiat money.
Other Information:
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For anyone following the news cycle surrounding cryptocurrencies and blockchain technology, it is clear that the market is volatile and many are apprehensive about investing in ICOs and cryptocurrencies. However, Bitcoin is among one of the many coins that have bounced back in value, and there are many people who think that it will rise even more. Let us have a look at some of the reasons why you should invest in cryptocurrencies.
There are more regulations
This might seem counterintuitive, especially given that many cryptocurrencies lost a lot of value after the introduction of government regulations. However, what the regulations have done is to weed out many of the bad apples in the world of ICOs and cryptocurrencies. It is now safer than ever to invest in cryptocurrencies, and it will only become safer in the future.
Blockchain is not going anywhere
Whilst many cryptocurrencies come and go, and some ICOs success while others fail, the underlying technology is here to stay. Blockchain is being researched by all the big internet companies, such as Google, Facebook, Microsoft, IBM, and many others. In addition, many of the successful ICOs started by independent development firms will also contribute greatly to technological advancement, which makes them a good bet for investors.
It is really easy to invest
Many are still puzzled about how cryptocurrency and blockchain works. And no wonder, it has mainly been the domain of tech-savvy Millennials. Now, however, the movement has gained so much steam that new innovations have made it easier to understand and invest in cryptocurrencies than it has ever been. Sites like Coinbase is simplifying the process of viewing, selecting, and investing in cryptocurrencies from around the world.
It’s time for a change
One of the key rationales behind the introduction of cryptocurrencies were that it was time for a reform of the financial system. Fiat money has, in the opinion of many experts, played their role and run their course. It is time for a more modern approach to finance, and cryptocurrency could very well be the future of the global economy.
Big things ahead
One only needs to shoot a glance at the numerous ICOs and their many interesting projects, to know that the best is yet to come. Cryptocurrencies will be utilized in everything including fundraising, charitable donations, real estate, foreign exchange, item evaluations, sports betting, and even adult content. Whatever your interests are, chances are that cryptocurrencies will be part of them in the near future.
Be part of the future
As mentioned, blockchain technology is being researched by numerous companies big and small, and there is a lot of promising innovations on the horizon. By investing in cryptocurrency now, you have the opportunity to be one of the early movers in the blockchain space, and will be able to harvest the fruits of your investments further down the line.
What do you think about investing in cryptocurrencies? Have you invested yourself, or are you thinking about investing? Share your experiences with us in the comments section below!
As cryptocurrencies become more and more accepted as a method of payment, the value of the items being sold also increases. There are already a few ICOs being developed with the real estate market in mind, but stories of people selling their actual home for cryptocurrency are rare. Needless to say, this is most likely down to the fact that the market for cryptocurrencies is extremely volatile.
This could have disastrous implications if you are trying to sell a house worth all your savings and your pension. Some cryptocurrencies, like Bitcoin, are more legitimate than others, and are less likely to lose all their value in a short period of time. Although, as the crash of December 2017 showed us, not even the original cryptocurrency is immune to dramatic downturns. If you are thinking of selling you house for cryptocurrencies, here are a few thing you need to consider before doing it,
Assess the risks involved
As mentioned, there is the volatility of the market to consider. If you are going to sell your house for a cryptocurrency coin or token, you should consult a real estate lawyer who understands the world of cryptocurrencies. More importantly, as the seller of the house you should do your own rigorous research into the token which you are considering accepting as payment for your house.
You should understand the progress the token has made in terms of its value, and how stable it is. You should look into who the people in the team behind the token are, and if you trust their track record. Finally, it would always be a wise move to convert some of the cryptocurrency tokens you accept into fiat money just in case the value drops somewhere down the line.
Get a solid contract in place
When it comes to drafting up the contract for the sale of your house, it is crucial that you enlist a real estate attorney to help you out. Again, they should be knowledgable when it comes to the cryptocurrency world, and be very meticulous in their research as well. When it comes to determining the closing date for the contract, it will also be a good idea to account of the fluctuating value of the cryptocurrency the transaction is made with. Leaving a few weeks on either side of the closing date to assess the fluctuations will avoid you experiencing a sudden crash in value the moment the transaction is finalised.
Research the legal matters
Since cryptocurrencies is still a relatively new concept to most people, it is not all countries that have incorporated them into law. This means that even if you are happy with accepting cryptocurrencies as a method of payment, and using smart contracts in place of a traditional agreement, you need to check with the law first. Depending on where you are, you might have to have a traditional agreement with the value represented in fiat money drawn up. This ensures that if there is any lega trouble down the line, you have all your bases covered.
Your attorney might not accept cryptocurrencies
It can be tempting to just buy and sell everything in cryptocurrencies, but bear in mind that not everyone might share your enthusiasm. Legal firms will most likely want their salaries paid out in fiat money, so it is a good idea to check with them when making your plans. If you do manage to find a legal firm that accepts cryptocurrency then all the better. But always select your attorney based on their merit and skill, and not on whether they accept cryptocurrency tokens.
Bitcoin was launched way back in 2009 after the financial crisis. Although this means that cryptocurrencies have been in existence for almost a decade, it is still taking many in business a while to catch on. Shrewd businesspeople will have made a note of the fact that Bitcoin itself rose from $1000 per coin to $10,000 in just over a year. That alone should be reason enough to pay attention to the phenomenon that is cryptocurrencies. But if you have been keeping up with the news, then you will also be aware that the market for cryptocurrencies is extremely volatile. That is perhaps the number one reason why many seasoned investors have been apprehensive when it comes to pitching money into a blockchain project. If you are still unsure about the potential, as well as the risks, involved with cryptocurrencies, here are a few things you should be aware of.
No more intermediaries
One of the main rationales behind Bitcoin and other cryptocurrencies was the eliminate the middleman. That means that most cryptocurrency transactions are not only anonymous but comes with little to no transaction fee attached. Cryptocurrencies have no nationality, so they are not influenced by the same rules and regulations as regular currencies. Another key feature is that all transactions are recorded on the online ledger, which provides users with full transparency.
The price is going up
Despite the volatility of the market in general, cryptocurrencies like Bitcoin are gaining a certain level of legitimacy. This means that people trust it more, and therefore the value of it will continue to go up. the fact that countries like Japan are recognizing cryptocurrencies as a legitimate method of payment also adds to the credibility. More and more tech development companies have now dropped the old pitch of company shares in favor of ICOs – initial coin offerings. This allows potential investors to receive cryptocurrency tokens in return for their investment. Like shares, these tokens usually rise in value as the company progresses.
The risk is still a thing
Despite cryptocurrencies becoming more legitimate and more widely accepted, there is still a certain level of risk involved with investing. One needs only look to the recent crash in December 2017, after Bitcoin hit its all-time high. When you invest in cryptocurrencies, things can quickly change. Governments around the world have now begun to regulate various ICOs, which can both benefit and hurt the various cryptocurrencies. Either the regulations weed out the bad apples, or they stifle the entire industry. As for the ICOs themselves, not all projects are created equal. Many investors end up losing their money because the teams behind the ICOs fail to reach their goals.
Be careful with payments
More and more businesses and charities are now accepting cryptocurrencies as a method of payment. But despite this, it is important to remember that the value of these payments can fluctuate drastically. It would be a shame as a business to accept a cryptocurrency payment, just to discover that the tokens are worthless a week later.