Daily: China State Media Targets ICOs (for the LAST TIME??!!)

Today on Box Mining Daily, we're going to start off with the market analysis followed by China. So the Chinese state media is targeting ICOs yet again. What does that mean? It means that there's still a lot of ICOs happening underground in China and they're trying to spread some fear over there. We also have mining malware. So there's a lot of new mining malware out there because people have found out it's so easy to attach these mining scripts onto ads or onto services and allow for a hostile takeover of a potential mining victim. We also have the Malaysian Central Bank. They're allowing the public to decide on the fate of cryptocurrencies as they're asking for people to contribute and to have their say in what to do about cryptocurrency regulation in the future. This is Box Mining Daily. My name is Michael and everything covered here is my personal opinion and not financial advice. So let's start off with the cryptocurrency market cap. So we have the overall market cap at $413 billion. It did take a dip in the last hour or so. So we're more or less staying steady, rocking back and forth a few percent every day. It does seem like we're just staying and waiting around in the land of cryptocurrencies. There's definitely a lot of people that have been complaining recently about the lack of action in crypto. It's been mostly flat for the past few days. Well, if you look at the price of Bitcoin, we're still trying to push for $9,000 for the past 12 hours, but we still haven't managed to make it. So it does seem like there's a little bit of resistance and there's a little bit of waiting around. The reason for that waiting around might be because of Chinese New Year. So Chinese New Year is just around the horizon. It's on Friday over here. And it's a big break for a lot of Asian countries, not just China, but in Korea and in Japan as well. So there's this kind of lunar holiday that they have, which is very similar to Chinese New Year. So it falls around the same dates. A lot of people are going to be off to visit their families or potentially travel around. And they might not want to either worry about cryptocurrencies or they might be cashing out a little bit to pay for that holiday. In terms of the Korean premium, we have the premium around 3% to 4% right now. So it's a little bit less than it was at last week. This might be because of the new increased regulations on cryptocurrency trading in South Korea. We do see, of course, Korean trade volume fall down to around rank 8 now. So before it used to be, you know, on top 1 or 2 for upbit slash bitthumb. So it does seem like their overall trade volume has fallen a little bit. In terms of news, we have the Chinese state media. Again, they're targeting ICOs specifically yet again. So what was happening in the past few weeks was that ICOs were officially banned in China, the public sale part. But people turn to private sales, to private groups where they can raise money and fund new projects. And they'll just skip the public sale bit and list straight on an exchange. Unfortunately, the Chinese government is still not very happy with these private sales. So what they want to do is they want to A, stop the trading, stop the exchanges, the ones that do crypto and try to ban the Chinese from that and try to really put a stop to this overall activity. Even though China is officially out of ICO businesses, there's still a lot of unofficial activity underground. This does mean, of course, that cryptocurrency markets are still sensitive to what's going on in China. Even though China is officially out, they're unofficially still using a lot of cryptocurrencies. And this just goes to show once you open that box of crypto, it's so hard to put everything back in. It's near impossible at this current point of time. So they might be trying, the regulations might be trying in the future as well, but it's so hard to put everything back. Next up on mining. So mining malware, the ability for these scripts to inject and run bits of code on your own computer to mine cryptocurrency such as Monero, which is CPU mineable, is getting very, very popular nowadays. It does seem like a few government websites have also been targeted. This is through a, the injection didn't come from a government website, but rather a plugin called BrowseAloud. So BrowseAloud, unfortunately, probably didn't have very good security measures and allowed one of these scripts to come in. Scripts can be very, very short. They can just be a link to a JavaScript. And of course that link, once it runs, will start mining on your computer. So this is something to watch out for. If you do see a lot of CPU usage on your computer, if your computer is heating up faster than usual, especially if you notice this on a laptop, your battery life is being depleted faster, it might be the case that some websites are using your computer to mine for Monero. This is also shown by the Monero difficulty chart. So if you look at Monero difficulty in general, it's gone up almost four times in the past, four months. So it just goes to show that there's a lot more people coming in, trying to hijack more computers because why Monero is because Monero is GPU mineable rather. So it can use a computer to mine it. Whilst with other cryptocurrencies such as Bitcoin, it needs specialized hardware like ASIC to be even competitive in that space. On the note of mining as well. If you have gaming grade hardware, Unicef wants to use that to mine cryptocurrencies and donate that to children. So you can indirectly help out children in Syria by downloading the Unicef miner called Game Changers. In terms of what you have to do to help this program, all you have to do is to download the client and select your GPU. So this works for both Nvidia and for AMD graphics cards. It works a little bit better on the newer models as well. Do be careful if you are mining, you'll hear that your graphics card is working all the time. So you'll probably get a little bit of a noise and a little bit of heat. Thank you guys so much for watching this video. Do you think the Chinese new year is the reason why cryptocurrencies are moving so slowly over this past month? What do you think the market's going to do in the future as well? Leave a comment below. I would love to hear what you guys think. Thank you guys so much for watching this video. Remember to click the little subscribe button down below to subscribe to this channel to get more videos like this. Also click that little notification bell to be alerted of new video uploads and also live streams. I also have a telegram channel if you guys want to check that out and discuss cryptocurrencies. Thank you for watching. See you next time.