Swiss watches are the most exquisite pieces of personal time keeping devices in the world. The high quality and attention to details has made these watches one of the most expensive and sought after in the world.
Swiss watch designs have always been about connecting centuries old timekeeping technology with the modern trends. Keeping this in mind, , a watchmaking company that is steeped in the Swiss watch tradition, has recently announced their partnership with Tech Bureau Europe, a Japanese-based crypto financial services platform. The collaboration is aimed to release limited edition cryptocurrency inspired watches.
There will be a total of 5 different designs, each representing a different cryptocurrency and associated service: bitcoin, NEM, Ethereum, Zaif, COMSA. The watches are manufactured according to the highest of Swiss watchmaking standards with each design limited to only 101 pieces.
Chronoswiss is a well established family owned watchmaking business. The company has already been manufacturing for three decades. Gerd Lang, the founder of Chronoswiss, was an experienced and well-trained watchmaker who had worked with the best of watchmaking companies before launching his own brand.
Chronoswiss’s commitment to provide the world with the best watches ever could be observed from the very start, when the company started operations during the Quartz Crisis. During that times, the Swiss businesses were taking a hard hit by quartz based watches offering cheaper and more precise time keeping devices as opposed to the mechanical movement ones. The company refused to bow down and continued producing mechanical watches of the highest quality.
In its bid to keep the highest of standards, Chronoswiss only makes around 7000 watches a year. Each piece has the best of materials and the highest of quality when producing. Already producing time keeping units in limited number, the limited edition of watches inspired by cryptocurrency will have even more care and love embedded in them.
The company has recently revealed the design and the expertise it has incorporated in each individual item. First of all, the watches will be manufactured totally by hand in the capital of Swiss watches: Lucerne.
Among the major features are: regulator with off-centred hours and seconds display, requiring extremely delicate and small parts to manufacture; Open Gear technology with skeleton look, enabling user to peer into the heart of the machine; a 3D design dial, with the logo of individual cryptocurrencies displayed in a miniature mosaic.
Moreover, the watches will be scratch resistant and hardened carbon coated, with solid stainless steel case. In addition, they will have sapphire glass back with respective cryptocurrency logo on gold plated rotor. Each watch will have individual limited number written by hand.
The limited edition crypto watches are available for Zaif users. Zaif is a Japanese based crypto exchange and only registered users will be able to participate in the auction. The auction will start on April 17 and continue till the April 27, 2018. Zaif users can place their bids during this time and after the auction ends, the highest bidders in each of the five categories will successfully acquire the master pieces.
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When Satoshi Nakamoto mined the first , it was followed by a range of events aiming to change the way people transact with each other. Cryptocurrencies have given financial freedom to the public, excluding the role of banking institutions charging hefty amounts for safekeeping and transferring people’s money. In the recent years, an explosion of cryptocurrencies have been observed, with hundreds of them being developed and launched each year.
The launch of bitcoin by Satoshi Nakamoto was a dream come true for many people, presenting the world a digital form of currency, extremely safe, fast, secure and cheap to send around the world. By putting the control over money transactions in people’s hands, bitcoin became the first successful non-governmental currency.
In a few years, was developed and launched. While bitcoin represents itself a blockchain-based cryptocurrency, Ethereum is a whole platform working on Blockchain, with its own cryptocurrency, Ether, allowing users to make smart contracts and develop their own crypto coins and tokens for specific projects.
When developed, both bitcoin and Ethereum were perfect in the eyes of its developers and users. Yet, today, both are racked by pitfalls that are becoming major issues. The main issue is their Proof of Work system, where miners are incentivised when solving complex calculations to release coins in the system. This leads to huge mining pools, where one or two become the major source of mining, potentially taking control of the system and influencing it. This is against the concept of decentralization – the founding principle of cryptocurrencies.
Another issue lays in the race to gather mining power and more coins, pushing mining pools on developing large servers or farms, where dedicated, complex computers are run to get more monetization. This is the reason why both bitcoin and Ethereum are rapidly turning into immense power hungry platforms. According to the forecasts, by the year 2020, the mining operations of bitcoin would consume more power than Denmark consumes today.
is a Blockchain ecosystem, not much unlike Ethereum, that is specifically developed to counter power centralization and resource consumption of the major cryptocurrencies. Skycoin is based on the concept of decentralization, having ensured that there are no chances of one single group of miners or nodes that can take over the system.
The Skycoin platform offers its users high transaction speed, less than 2 seconds. All transactions are “zero fee”, as they are paid through a dedicated Coin Hour token, a separate cryptocurrency given to users for holding coins. Moreover, Skycoin effectively renders threats, such as 51% attack, reversal and duplication useless, which means high security level.
Being sustainable and trustworthy, it does not allow mining farms to run on the platform, so that even a small cell phone can run a node. Instead of miners, the platform runs on nodes. Scalable and low resource demanding, the Obelisk (Scycoin’s feature) makes sure that everyone can be a node, making centralization impossible.
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After nearly four months of being purposefully offline, popular crypto exchange Bittrex announced its reboot, complete with a new website. Within an hour, the company had to once again cease onboarding customers.
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Bittrex Reemerges
Bittrex CEO Bill Shihara explained, “We’ve spent the past four years building Bittrex on the founding principles of innovation, security and responsibility. Given these principles, pausing new user signups during a period of immense trading volume was not a decision we took lightly, but our responsibility to provide customers with a reliable platform and outstanding customer service, made it the right thing to do. After diligently working to improve our infrastructure and upgrade our website, we’re pleased to announce registration for new users resumed today.”
The last anyone had heard of the Seattle-based exchange, was when it revealed back in March “‘the decision to delist these tokens has been made on the basis of maintaining the company’s “strict coin listing criteria.’ Of the 82 digital tokens to be delisted, 28 have either ‘broken blockchains or wallets that will not allow withdrawals.’ Other tokens are set to be delisted due to thin liquidity,” these pages .
Just weeks prior to its delisting warning, Bittrex responded to US regulators’ calls by stressing it “is committed to incubating new blockchain technology projects and offering innovative, compliant digital tokens to our customers” adding how it also “look[s] forward to continuing [its] proactive dialogue with the SEC and other regulators on how to build a secure, fully-regulated environment for blockchain.”
Tuesday, 10 April, the exchanged confidently posted on its website, “In December, Bittrex temporarily paused signups for new users to preserve the experience, stability and security of the platform for existing customers as the company worked on improving the infrastructure to efficiently manage the immense amount of interest from new users. Though Bittrex was able to facilitate the registration of some new users through a wait list program over the past few months, new users will now be able to initiate registration themselves through the Bittrex website at www.Bittrex.com. Also, the company made additional adjustments that will help streamline the on-boarding process for both retail and corporate customers,” the company claimed.
Bittrex Halts Again
To have bowed out at literally the height of crypto’s price run-ups last year was a bold move, and enthusiasts evidently were chomping at the bit to have it back up and operating. So much so, if Bittrex’s tweet an hour later is to be believed, the exchange claimed to be overwhelmed and as a result had to once again shutter its digital doors.
Interestingly, the exchange said it has “expanded from four, full-time employees in early 2017 to more than 50, including the addition of top-level talent from the Department of Justice, the Department of Homeland Security and Amazon. Bittrex also significantly increased the number of support staff to include almost 100 representatives, who are working to ensure the company responds to customer requests in a timely and efficient manner.”
The exchange hopes to be back up and running “as soon as possible.”
Will you still use Bittrex after this? Let us know in the comments section below.
Images courtesy of Shutterstock.
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