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Billionaire James Richman increases cryptocurrency investments due to growing demands from clients

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Billionaire James Richman Increased Crypto Investments
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Cryptocurrency is finally receiving the attention it deserves, and even though some has been negative, the majority understands the importance of a decentralized currency. Another addition to the cryptocurrency bandwagon is JJ Richman- a private asset management company.

Investors Investing in India

This company has been at the forefront of Bitcoin and Blockchain investments even before the 2017 boom, but increased client demand has pushed them to increase investments in cryptocurrencies.

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James Richman lead this family-run company that invests in diversified assets and sectors globally. This exclusive asset management company only includes ultra high net worth individuals (UHNWI) as their clientele. This elite clientele demanded crypto investments that led to the Richman’s increasing their private investment funds in this industry.

Bitcoin, the most popular cryptocurrency, is valued over $8,000, and despite its occasional volatility, most investors are bullish about the cryptocurrency sector.

Crypto is more convenient, faster, and secure as compared to traditional banking systems. Decentralization is the most significant benefit of this digital currency, and it’s no surprise that its demand is growing.

This firm’s investments are focused on real estate, equities, digital media, and bonds and include cryptocurrency as well. JJ Richman has ensured the clients of their credibility by investing their own money in the fund. James’ private nature has contributed to his and the company’s success.

JJ Richman and their clients realized the potential of crypto, and this motivated them to increase investments in the cryptocurrency sector.

Source: Coinnounce

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Coal Mining Industry

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The coal mining industry segment produces coal, a fossil fuel that is used primarily for electric power generation and in the production of steel. Like oil, coal is formed over millions of years from plant and animal matter, but unlike oil, coal is a solid, and therefore miners must go into the earth to recover it. Many coal seams are located close to the surface, however, which makes the extraction of this resource easier.

Surface mining of coal typically uses the method known as strip mining, which is usually more cost-effective than underground mining and requires fewer workers to produce the same quantity of coal. In strip mining, workers use huge earth moving equipment, such as power shovels or drag lines, to scoop off the layers of soil and rock covering the coal seam.

Once the coal is exposed, it is broken up by using explosives, and then smaller shovels lift it from the ground and load it into trucks. Mining companies are required by Federal, State, and local laws to restore the mined land after surface mining is completed; as a result, the overburden and topsoil are stored after removal so that they can be replaced and native vegetation replanted.

Underground mining is used when the coal deposit lies deep below the surface of the earth. When developing an underground mine, miners first must dig tunnels deep into the earth near the place where the coal is located. Depending on where the coal seam is in relation to the surface, tunnels may be vertical, horizontal, or sloping. Entries are constructed so that miners can get themselves and their equipment to the ore and carry it out, while allowing fresh air to enter the mine.

Once dug to the proper depth, a mine’s tunnels interconnect with a network of passageways going in many directions. Using the room-and-pillar method, miners remove sections of the coal as they work the coal seam from the tunnel entrance to the edge of the mine property, leaving columns of coal in place to help support the ceiling together with long steel bolts. This process is then reversed, and the remainder of the ore is extracted, as the miners work their way back out.

In the case of longwall mining of coal, self-advancing roof supports, made of hydraulic jacks and metal plates, cover the area being mined. As coal is removed, the entire apparatus advances, allowing the ceiling in the mined area to cave in as the miners work back towards the tunnel entrance. Underground mining does not require as extensive a reclamation process as surface mining; however, mine operators and environmental engineers still must ensure that ground water remains uncontaminated and that abandoned mines do not collapse.

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Is Mark Thompson Really Mining For Gold?

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WordPress Goldmine is an apt description for this excellent 110 page e-book by Mark Thompson. It truly is a goldmine of information regarding the use of WordPress blogs to provide residual income.

Well written and easy to understand, WordPress Goldmine provides guidance on how to select a product, choose a domain name, set up a blog, get content, monetize and promote a site. Unusually, building a list is not part of the formula.

Mark has split his e-book into five distinct sections making it easy to access the information and there is a very detailed Contents Page.

The first section deals with the basic process of setting up an effective WordPress blog, and covers presentation, themes and plugins.

Content is the topic of section two.

In section three, the different ways to monetize a site are covered and here you will find some really useful information.

Blog promotion is covered in section four which makes a nice change as most e-books leave this vital piece of information out. WordPress Goldmine actually provides details of a great traffic generation system.

The final section neatly ties up the whole process of using blogs for affiliate marketing by discussing mastering Web 2.0 with social networking, bookmarking and tagging.

WordPress Goldmine is not just a well-written e-book but a very useful tool.

The author, Mark Thompson, makes every page valuable. There is no hype or fillers and very few affiliate links to click. Infact in the entire book he only recommends two tools and one membership site, although he directs you to very many resources.

The whole book is written in a very matter of fact manner and discloses his proven methods to achieving what he terms, “a comfortable income in a short period of time”. His sensible approach makes a healthy income seem achievable, even to the absolute marketing beginner, especially as he summarises each section.

WordPress Goldmine is a simple and clear, step-by-step guide to the whole process of affiliate marketing. He discusses relevant and critical strategies on which to focus and his concise style of writing, spelling out exactly what he does and why he does it, is a pleasure to read. Another bonus is that he is producing videos to complement the e-book, and these are being made available as they are produced.

If you are looking for an informative and practical, complete package, then WordPress Goldmine is for you. Even more experienced marketers could benefit from applying his techniques.

WordPress Goldmine is indeed a goldmine of information for anyone serious about affiliate marketing and making multiple streams of income from WordPress blogs.

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The Ancient Copper Mines of America

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The mining of metal in America started long before the advent of the gold rush era or before the first explorers came to claim and settle this new frontier. It was not until the advent of carbon dating that anyone realized how long mining had been going on in America. The path of the discovery of ancient copper mining in America goes all the way back to the early explorers.

When Columbus came to the new world he reported back to his homeland that the natives had possession of impressive copper weapons. Other early explorers in America and also made notes of copper in the possession of the island and mainland natives. In 1536 Jacques Cartier was given nuggets of pure copper by Indians in the St. Lawrence river area. The list of explorers noting copper amongst the native people goes on. Because the native Indians held copper as sacred, it took some time for explorers to uncover where it was that the copper came from.

By 1800 there had been enough evidence for mass quantities of a very pure grade of copper in Keweenaw Peninsula (which is the Upper Peninsula of Michigan) that Congress passed a resolution to study the copper. By 1820 it was confirmed that the Keweenaw Peninsula held worthy amounts of a very pure copper. Had the area not still been in possession of the Indians, the first metal rush in America would have been copper. The Gold Rush of Georgia in the late 1820’s preceded the copper rush for that fact alone. By 1843, the peninsula became part of the American territories and the copper rush was on.

In 1848, Samuel O. Knapp, an Agent for a company which would eventually become the Minnesota Mining Company, was out looking over a snow covered hillside and noticed a line of indentations in the snow. He followed these for a ways until he came to a cave like opening. Exploring inside, he found that the “cave” was actually a man made hole, and that there were remnants of tools inside. After explorations were made of other pits, it was discovered that there were masses and veins of copper within the pits. It was not long before it became the mode to mine these pits whenever found. Many tools were discovered. Much archaeological information was destroyed.

In 1955 studies with carbon dating were begun on tools found in the areas of copper pits and the findings have resulted in much study of the pits and the surrounding land. The pits are dated back approximately 4,000 years at the latest. Because of the purity of the copper and a unique occurrence of silver with the copper, artifacts of this area’s metal can be easily traced throughout North and Central America and neighboring islands. That copper mining had been established as a commerce is clearly seen. What is not known is who these ancient miners may have been.

It is known that the miners came to the area shortly after the recession of the glaciers, at a time that copper could have been picked up from the surface of the ground, the land still barren of forestry making this an easy task. The waterways were also at a higher level facilitating travel. As the copper float became scarce, digging would have been necessitated. It is estimated from the thousands of pits found on Keweenaw peninsula, and hundreds more on Isle Royale that at least 500 million pounds of copper were extracted by these early people.

An endeavor of this size would take many human resources, boats, housing, food provisions, and so on. Temporary camps, if not whole towns, would have been in place. Yet no trace of these people has been found other than the digging tools and one or two personal effects. No evidence of housing, of transport, food gathering or farming. It is thought that because of the region’s harsh winters that the miners came and went seasonally, but from where is unknown. One expert has convincing evidence that these people may have been here as early as 7,000 years ago and had come from Egypt. Other possibilities are that they came from Russia, from the North. Others suggest that they may have been Aztec or another Central American culture. Near St. Louis archaeologists are uncovering the ruins of a fairly advanced civilization from about 6,500 years ago and there is thinking that these may be the lost miners but not much is known about this culture yet.

While the conjecture and debates go on, all experts seem to agree that the miners were not the ancestors of the Native Indians. The Indians had no knowledge or legends of these people and the craftsmanship of the tools found points to a culture far more advanced than the Indian cultures. The only thing that we can know with certainty is that these people were here, they were here in the ages that man first started using copper, and that artifacts made from the copper they mined can be found in the ruins of many ancient cultures.

Perhaps these early miners left no trace other than the tools they left in their mining pits. Perhaps important evidence was destroyed in the early American Copper Rush. With luck, some clues still remain hidden yet to be uncovered by some fortunate archaeologist or treasure hunter. Whatever the answers are to be found, they are sure to be intriguing.

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Metallurgist Roles in Mining Companies

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Mining of metals and minerals is a growth industry, especially in Africa, providing job opportunities for metallurgists to work in various roles. Positions are well paid as metallurgists are required to have at least one degree from an accredited university or college. The preferred qualifications are a Bachelors Degree in Extractive Metallurgy or Metallurgical Engineering or BSc. in Chemical Engineering with a major in Mineral Processing. This is not a profession where candidates can learn the required skills on the job although experience can be gained throughout their career by expanding their exposure to different types of work on mines.

The type of work they do

The most common metallurgist roles include project management, consulting, technical or site management and research. For example, on a mine he/she would be expected to:

  • Design work programs and manage all metallurgical testing both in-house and with external service providers and laboratories
  • Work with the senior team to review and evaluate technical solutions
  • Liaise with geologists and other technical personnel to ensure the most suitable metallurgical solution is understood and employed
  • Constantly re-evaluate the metallurgical performance

At middle management level, as a project manager they would coordinate day-to-day mining activities, manage quality assurance and generally ensure a smooth operation. Mining companies look for a minimum of 5 years experience before they post these types of managers to remotely located mines. At the most senior level metallurgists can become mine managers which includes coordinating all operations, staffing, running the site itself, selecting the extraction process, and resolving operational and business issues.

Furthering a career

Metallurgists with further education and extensive experience in many technical processes become professional consultants or researchers either working directly for a large mining company or for a consulting firm contracted to it. Their role may be to advise clients on process engineering, to perform cost analyses or do budgeting. They may get involved in environmental impact assessments, HSEQ and social responsibility as well. The mining industry is constantly updating its methods of extraction and waste management in order to stay profitable and needs researchers to continue to explore new methods and processes. Pay levels vary depending on work experience, area of expertise and the location where they are posted.

Some of the personal attributes required to be successful in this field are to be an effective team player, have a high level of inter-personal communication skills and be able to express yourself in writing. A good knowledge of French is often asked for when an African posting is offered. Because of inhospitable locations and remoteness of mines, most of the postings attract single people or more mature staff who do not have school-going children.

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Data Mining and Financial Data Analysis

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Introduction:

Most marketers understand the value of collecting financial data, but also realize the challenges of leveraging this knowledge to create intelligent, proactive pathways back to the customer. Data mining – technologies and techniques for recognizing and tracking patterns within data – helps businesses sift through layers of seemingly unrelated data for meaningful relationships, where they can anticipate, rather than simply react to, customer needs as well as financial need. In this accessible introduction, we provides a business and technological overview of data mining and outlines how, along with sound business processes and complementary technologies, data mining can reinforce and redefine for financial analysis.

Objective:

1. The main objective of mining techniques is to discuss how customized data mining tools should be developed for financial data analysis.

2. Usage pattern, in terms of the purpose can be categories as per the need for financial analysis.

3. Develop a tool for financial analysis through data mining techniques.

Data mining:

Data mining is the procedure for extracting or mining knowledge for the large quantity of data or we can say data mining is “knowledge mining for data” or also we can say Knowledge Discovery in Database (KDD). Means data mining is : data collection , database creation, data management, data analysis and understanding.

There are some steps in the process of knowledge discovery in database, such as

1. Data cleaning. (To remove nose and inconsistent data)

2. Data integration. (Where multiple data source may be combined.)

3. Data selection. (Where data relevant to the analysis task are retrieved from the database.)

4. Data transformation. (Where data are transformed or consolidated into forms appropriate for mining by performing summary or aggregation operations, for instance)

5. Data mining. (An essential process where intelligent methods are applied in order to extract data patterns.)

6. Pattern evaluation. (To identify the truly interesting patterns representing knowledge based on some interesting measures.)

7. Knowledge presentation.(Where visualization and knowledge representation techniques are used to present the mined knowledge to the user.)

Data Warehouse:

A data warehouse is a repository of information collected from multiple sources, stored under a unified schema and which usually resides at a single site.

Text:

Most of the banks and financial institutions offer a wide verity of banking services such as checking, savings, business and individual customer transactions, credit and investment services like mutual funds etc. Some also offer insurance services and stock investment services.

There are different types of analysis available, but in this case we want to give one analysis known as “Evolution Analysis”.

Data evolution analysis is used for the object whose behavior changes over time. Although this may include characterization, discrimination, association, classification, or clustering of time related data, means we can say this evolution analysis is done through the time series data analysis, sequence or periodicity pattern matching and similarity based data analysis.

Data collect from banking and financial sectors are often relatively complete, reliable and high quality, which gives the facility for analysis and data mining. Here we discuss few cases such as,

Eg, 1. Suppose we have stock market data of the last few years available. And we would like to invest in shares of best companies. A data mining study of stock exchange data may identify stock evolution regularities for overall stocks and for the stocks of particular companies. Such regularities may help predict future trends in stock market prices, contributing our decision making regarding stock investments.

Eg, 2. One may like to view the debt and revenue change by month, by region and by other factors along with minimum, maximum, total, average, and other statistical information. Data ware houses, give the facility for comparative analysis and outlier analysis all are play important roles in financial data analysis and mining.

Eg, 3. Loan payment prediction and customer credit analysis are critical to the business of the bank. There are many factors can strongly influence loan payment performance and customer credit rating. Data mining may help identify important factors and eliminate irrelevant one.

Factors related to the risk of loan payments like term of the loan, debt ratio, payment to income ratio, credit history and many more. The banks than decide whose profile shows relatively low risks according to the critical factor analysis.

We can perform the task faster and create a more sophisticated presentation with financial analysis software. These products condense complex data analyses into easy-to-understand graphic presentations. And there’s a bonus: Such software can vault our practice to a more advanced business consulting level and help we attract new clients.

To help us find a program that best fits our needs-and our budget-we examined some of the leading packages that represent, by vendors’ estimates, more than 90% of the market. Although all the packages are marketed as financial analysis software, they don’t all perform every function needed for full-spectrum analyses. It should allow us to provide a unique service to clients.

The Products:

ACCPAC CFO (Comprehensive Financial Optimizer) is designed for small and medium-size enterprises and can help make business-planning decisions by modeling the impact of various options. This is accomplished by demonstrating the what-if outcomes of small changes. A roll forward feature prepares budgets or forecast reports in minutes. The program also generates a financial scorecard of key financial information and indicators.

Customized Financial Analysis by BizBench provides financial benchmarking to determine how a company compares to others in its industry by using the Risk Management Association (RMA) database. It also highlights key ratios that need improvement and year-to-year trend analysis. A unique function, Back Calculation, calculates the profit targets or the appropriate asset base to support existing sales and profitability. Its DuPont Model Analysis demonstrates how each ratio affects return on equity.

Financial Analysis CS reviews and compares a client’s financial position with business peers or industry standards. It also can compare multiple locations of a single business to determine which are most profitable. Users who subscribe to the RMA option can integrate with Financial Analysis CS, which then lets them provide aggregated financial indicators of peers or industry standards, showing clients how their businesses compare.

iLumen regularly collects a client’s financial information to provide ongoing analysis. It also provides benchmarking information, comparing the client’s financial performance with industry peers. The system is Web-based and can monitor a client’s performance on a monthly, quarterly and annual basis. The network can upload a trial balance file directly from any accounting software program and provide charts, graphs and ratios that demonstrate a company’s performance for the period. Analysis tools are viewed through customized dashboards.

PlanGuru by New Horizon Technologies can generate client-ready integrated balance sheets, income statements and cash-flow statements. The program includes tools for analyzing data, making projections, forecasting and budgeting. It also supports multiple resulting scenarios. The system can calculate up to 21 financial ratios as well as the breakeven point. PlanGuru uses a spreadsheet-style interface and wizards that guide users through data entry. It can import from Excel, QuickBooks, Peachtree and plain text files. It comes in professional and consultant editions. An add-on, called the Business Analyzer, calculates benchmarks.

ProfitCents by Sageworks is Web-based, so it requires no software or updates. It integrates with QuickBooks, CCH, Caseware, Creative Solutions and Best Software applications. It also provides a wide variety of businesses analyses for nonprofits and sole proprietorships. The company offers free consulting, training and customer support. It’s also available in Spanish.

ProfitSystem fx Profit Driver by CCH Tax and Accounting provides a wide range of financial diagnostics and analytics. It provides data in spreadsheet form and can calculate benchmarking against industry standards. The program can track up to 40 periods.

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5 Mistakes Most Bitcoin Buyers Make

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Nowadays, it’s not easy to buy Bitcoin. Some purchasers make some costly mistakes when they try to earn some return on their investment for the first time. Therefore, you may want to to be careful when making this purchase. Given below are 5 common mistakes that Bitcoin buyers make. Make sure you avoid these mistakes.

Wrong Address

Make sure you enter the right address when buying Bitcoin. If address is wrong, it won’t be possible to reverse the transaction, and you will lose your money forever. Unfortunately, you can’t rectify this mistake if the address you entered was wrong.

Therefore, don’t forget to triple check your address to ensure it does not have any errors. It won’t take hours to check the details. It’s better to ask a friend or family member to go over your details.

Confirmations

It is a great idea to purchase Bitcoin in person. You should only hand over your hard-earned money when the transaction is complete. It is even better to get multiple confirmations. Therefore, you may want to bear patience in order to make sure there will be no issues later on. This is even more important if you are going to invest a large amount of money.

Payment Methods

One of the most common ways to make payments online is to use PayPal or a credit card. The reason is that these methods are quite convenient. Plus, they can save you a lot of money. However, keep in mind that you will have to pay higher fees to enjoy this convenience. For example, you will have to face chargeback issues.

Therefore, it is better to choose a less expensive method to make payment. For example, you can make a bank transfer. This is even more important if you are going to spend a large amount of money on a regular basis. In the long run, it can save you a lot of money.

Missed Opportunity

We know that people have been making a lot of money by purchasing and selling Bitcoin. However, if you are going to make this purchase just because you don’t want to miss out on this money-making opportunity, you need to think again.

Buying Bitcoin without a solid strategy in place is a bad idea. As with any other purchase, you need to do your homework before you invest in Bitcoin. Therefore, having a solid strategy in mind is of paramount importance.

Research

Nowadays, the process of buying Bitcoin and other currencies is quite straightforward. The reason is that there are many exchanges and a lot of payment methods to choose from. But the problem is that we all tend to make mistakes especially when we are going to buy something for the first time. Therefore, you may want to take your time before making this purchase.

In short, if you avoid the mistakes described above, you can purchase Bitcoin safely and without any worries. Just make sure you have the basic knowledge of cryptocurrencies. Hope this will help you make informed decisions.

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Master How to Make Gold With Mining in WoW WOTLK – Detailed Info

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If you have gone all the way to the Northrend frozen lands, then by now you have realized just how expensive things are in the WoW expansion Wrath of the Lich King. Due to this fact, it is important to know how to make gold with mining in WoW WOLTK so that you can easily grow your stash of money. This will be helpful once you decide to spend money to buy a new Mekineers Chopper, which is very useful in the latter parts of the game.

One of the best sources of World of Warcraft gold even before the Wrath of the Lich King expansion was mining. With The Burning Crusade’s release and the addition of the Jewel-crafting profession, more and more players are demanding and looking for mineral ores. Due to popular demand the prices of mineral products skyrocketed. Low level characters are still allowed to mine some stacks of copper quickly. Once they have mined, they can give it in to the auction house, where they can earn some profit for several gold per stack. This is one of the ways on how to make gold with mining in WoW WOTLK.

The introduction of WOTLK has not affected the demand of mineral but it did limit the selection to just three – Titanium, Saronite and Cobalt. These three ores are highly sought after by Blacksmiths and Grand Master Engineers to enhance their chopper and can earn you lots of gold should you be able to collect a lot of them. Cobalt is abundant and can be found in the Howling Fjord and Borean Tundra, but the former is where you can find most of it. Just fly or ride around the peninsula and you will surely find the nodes. When you reach 400 mining skill, you can now move on to mining the second ore – Sarsonite. This can be found in Sholazar Basin, Stormpeaks and Icecrown. If you do not have Cold Weather Flying, you can only mine in Sholazar Basin. Titanium is the most prestige among the three stones and you have to to gain a level 450 in mining skill and have a flying mount, since majority of nodes can be found in Icecrown. These nodes can be found in Storm Peaks and the Sholazar Basin but ther are not that abundant.

Basically, if you want to know how to make gold with mining in WoW WOTLK, you have to collect these stones or even the drops of Water, Fire, Air and Earth and bring them to the Auction House, where you will be paid in exchange for the materials.

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Bitcoin Wallets – All Aspects Explained

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BITCOIN STORAGE

Bitcoin is a famous digital currency and it is unlike the physical or traditional currencies used across the globe. This is a completely different type of currency because it doesn’t exist in any physical form or shape in the world. They are basically stored technically and used in the internet world. If you want to use bitcoin, it is necessary to have a bitcoin wallet.

What is a bitcoin wallet?

Generally, a wallet for Bitcoin is a software program where bitcoins are safely stored. A wallet is similar to a virtual bank account and allow the person to send or receive bitcoins and save the bitcoins. Those people who use bitcoin and have balance, they receive a private key or secret number for every bitcoin address which is saved in the bitcoin wallet. Without the private key a bitcoin transaction is not possible. You can use your Bitcoin wallet from anywhere in the world.

The main reason behind obtaining a bitcoin storage wallet is to use bitcoin easily and safely. It is a digital wallet that can run easily on your smart phone and computer devices. If you are concerned with hacking, then it is the best option because it gives full security and safety of your bitcoin.

Different forms of a bitcoin wallet

There are several different forms of a bitcoin wallet and each of them are used as per their requirements.

The four main types of a bitcoin wallet are as mentioned as below:

• Mobile

Those who are using bitcoins on a daily basis, such as regularly trading, buying goods and more daily activities, for them Mobile BTC wallet is a great option. It is an app which runs on your smart phone. This will store your private keys and allow you to pay for things or use crypto-coin from your phone easily from any place of the world.

• Web

Web wallets allow you to use bitcoins from anywhere easily and on any mobile or web browser. Remember, you must choose your web wallet carefully because it stores your private key online and it can be risky sometimes.

• Desktop

Desktop wallets are downloaded and installed on your computer or desktop and offer you the complete control over the wallet. You can store a private key and create a crypto coin account address for sending and receiving the bitcoins.

• Hardware

Hardware wallets are offline devices and are the most secure bitcoin wallet. They store your private keys offline so they can’t be hacked. This means you can use whenever you want on your computer.

Your coins are completely safe because your bitcoin wallet can only be controlled by you. No other person, unless you share the password can get the details about your bitcoin. Therefore, use bitcoins without the concern of any theft.

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Mining Equipment For the Weekend Prospector

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Most persons just getting into weekend gold prospecting don’t know about how to get started especially when gathering the tools that they might need.  So I am going to get you thinking about mining equipment you might want to take with you when looking for gold.

First of course are digging tools.  Most of us have an old shovel laying around along with some garden tools like a pick for loosening hard ground and some type of short handled scoop.  In the old days a pick Axe and a shovel and an old iron skillet or gold pan were what the old timers used to dig gold bearing materials out of the ground to pan.

Today we have a lot more mining tools than the donkey prospector.  We have many modern gold pans from around the world. .Some of them are better than others.  I have tried them all and have a favorite of my own.  You will find yours too eventually.  

There are picks and scrapers, and tools for digging materials out of cracks in rock.  There are vacuum packs that are essentially a portable vacuum with a 5 gallon bucket attached to the bottom of it for sucking up material out of holes, crevices and cracks on bedrock.  This is an important tool for working a dry wash or an old river bed in gold country.

Then there are high-bankers which have motors that suck water up into a sluice that has a receiver tray at the top that you shovel your materials into.  The water washes the materials down the sluice bed and catches the gold and black sands in the riffles.  The lighter materials wash off the end of the riffles.

Some high bankers have been made into smaller models that fit into its own carrying tub that can contain the water that you recycle through your riffle arrangement.  This allows you to go to remote areas with 5 gallons of water  to recover gold with.

You also can choose a tool called a dry washer that comes in various sizes and can be gasoline motor driven or battery driven.  These work on the principle of vibrating the lighter materials off the riffle bed after you have fed the receiver classifier screen on the unit.

There are gold wheels that are essentially a spiral pan with a receiver hole in the center that dumps gold into a small cup on the backside.  These sit in a rectangular tub and are powered by a battery.  Materials are fed into the unit by hand in smaller amounts and is a slower process, kids love to do this part.

Dredges are floating high-bankers that have a suction nozzle that is used underwater to suck materials up onto the riffles to catch the heavier gold and black sand materials that get dropped in the riffle areas.  This type of equipment is heavier and can require more than one person to operate.  There are however backpacker models that a person can go it alone and hike into a spot to dredge.  I know a guy who dredges in California and who had all of the materials in caught in the riffles assayed…turns out that even though there was no visible gold after he picked the nuggets out. The assay stated he had 12 ounces of gold per ton of his riffle materials.

This is why you should always save the black sands you get from your mining efforts for evaluating later.  What to do with your black sands is a whole other topic in itself.

Lastly for the small miner there is metal detecting which is one of my favorite ways to hunt for gold. There are many types of detectors out there.  I like Mine-lab detectors but also use other models.  Detectors with modern technology can locate metals in the ground and can even identify the metal.  

In closing I would like to say that I have been prospecting for many years and have met many wonderful people that have become my friends and who go with me into the field.  We work hard together but we have fun and we do find gold and get some good exercise and sunshine to boot.

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Bitcoin Vs Goldcoin

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Bitcoin… Monetary Nirvana?

If you don’t know what Bitcoin is, do a bit of research on the internet, and you will get plenty… but the short story is that Bitcoin was created as a medium of exchange, without a central bank or bank of issue being involved. Furthermore, Bitcoin transactions are supposed to be private, that is anonymous. Most interestingly, Bitcoins have no real world existence; they exist only in computer software, as a kind of virtual reality.

The general idea is that Bitcoins are ‘mined’… interesting term here… by solving an increasingly difficult mathematical formula -more difficult as more Bitcoins are ‘mined’ into existence; again interesting- on a computer. Once created, the new Bitcoin is put into an electronic ‘wallet’. It is then possible to trade real goods or Fiat currency for Bitcoins… and vice versa. Furthermore, as there is no central issuer of Bitcoins, it is all highly distributed, thus resistant to being ‘managed’ by authority.

Naturally proponents of Bitcoin, those who benefit from the growth of Bitcoin, insist rather loudly that ‘for sure, Bitcoin is money’… and not only that, but ‘it is the best money ever, the money of the future’, etc… Well, the proponents of Fiat shout just as loudly that paper currency is money… and we all know that Fiat paper is not money by any means, as it lacks the most important attributes of real money. The question then is does Bitcoin even qualify as money… never mind it being the money of the future, or the best money ever.

To find out, let’s look at the attributes that define money, and see if Bitcoin qualifies. The three essential attributes of money are;

1) money is a stable store of value; the most essential attribute, as without stability of value the function of numeraire, or unit of measure of value, fails.

2) money is the numeraire, the unit of account.

3) money is a medium of exchange… but other things can also fulfill this function ie direct barter, the ‘netting out’ of goods exchanged. Also ‘trade goods’ (chits) that hold value temporarily; and finally exchange of mutual credit; ie netting out the value of promises fulfilled by exchanging bills or IOU’s.

Compared to Fiat, Bitcoin does not do too badly as a medium of exchange. Fiat is only accepted in the geographic domain of its issuer. Dollars are no good in Europe etc. Bitcoin is accepted internationally. On the other hand, very few retailers currently accept payment in Bitcoin. Unless the acceptance grows geometrically, Fiat wins… although at the cost of exchange between countries.

The first condition is a lot tougher; money must be a stable store of value… now Bitcoins have gone from a ‘value’ of $3.00 to around $1,000, in just a few years. This is about as far from being a ‘stable store of value’; as you can get! Indeed, such gains are a perfect example of a speculative boom… like Dutch tulip bulbs, or junior mining companies, or Nortel stocks.

Of course, Fiat fails here as well; for example, the US Dollar, the ‘main’ Fiat, has lost over 95% of its value in a few decades… neither fiat nor Bitcoin qualify in the most important measure of money; the capacity to store value and preserve value through time. Real money, that is Gold, has shown the ability to hold value not just for centuries, but for eons. Neither Fiat nor Bitcoin has this crucial capacity… both fail as money.

Finally, we come to the second attribute; that of being the numeraire. Now this is really interesting, and we can see why both Bitcoin and Fiat fail as money, by looking closely at the question of the ‘numeraire’. Numeraire refers to the use of money to not only store value, but to in a sense measure, or compare value. In Austrian economics, it is considered impossible to actually measure value; after all, value resides only in human consciousness… and how can anything in consciousness actually be measured? Nevertheless, through the principle of Mengerian market action, that is interaction between bid and offer, market prices can be established… if only momentarily… and this market price is expressed in terms of the numeraire, the most marketable good, that is money.

So how do we establish the value of Fiat… ? Through the concept of ‘purchasing power’… that is, the value of Fiat is determined by what it can be traded for… a so called ‘basket of goods’. But his clearly implies that Fiat has no value of its own, rather value flows from the value of the goods and services it may be traded for. Causality flows from the goods ‘bought’ to the Fiat number. After all, what difference is there between a one Dollar bill and a hundred Dollar bill, except the number printed on it… and the purchasing power of the number?

Gold, on the other hand, is not measured by what it trades for; rather, uniquely, it is measured by another physical standard; by its weight, or mass. A gram of Gold is a gram of gold, and an ounce of Gold is an ounce of Gold… no matter what number is engraved on its surface, ‘face value’ or otherwise. Causality is the opposite to that of Fiat; Gold is measured by weight, an intrinsic quality… not by purchasing power. Now, have you any idea of the value of an ounce of Dollars? No such thing. Fiat is only ‘measured’ by an ephemeral quantity… the number printed on it, the ‘face value’.

Bitcoin is farther away from being the numeraire; not only is it simply a number, much as Fiat… but its value is measured in Fiat! Even if Bitcoin becomes internationally accepted as a medium of exchange, and even if it manages to replace the Dollar as the accepted ‘numeraire’, it can never have an intrinsic measure like Gold has. Gold is unique in being measured by a true, unchanging physical quantity. Gold is unique in storing value for thousands of years. Nothing else in reach of humanity has this unique combination of qualities.

In conclusion, while Bitcoin has some advantages over Fiat, namely anonymity and decentralization, it fails in its claim to being money. Its advantages are also questionable; the intent is to limit the ‘mining’ of Bitcoins to 26,000,000 units; that is, the ‘mining’ algorithm gets harder and harder to solve, then impossible after the 26 million Bitcoins are mined. Unfortunately, this announcement could very well be the death knell of Bitcoin; already, some central banks have announced that Bitcoins may become a ‘reservable’ currency.

Wow, sounds like a major step for Bitcoin, does it not? After all, the ‘big banks’ seem to be accepting the true value of the Bitcoin, no? What this actually means is banks recognize that they could trade Fiat for Bitcoins… and to actually buy up the 26 million Bitcoins planned would cost a meagre 26 Billion Fiat Dollars. Twenty six billion Dollars is not even small change to the Fiat printers; it is about a week’s worth of printing by the US Fed alone. And, once the Bitcoins bought up and locked up in the Fed’s ‘wallet’… what useful purpose could they serve?

There would be no Bitcoins left in circulation; a perfect corner. If there are no Bitcoins in circulation, how on Earth could they be used as a medium of exchange? And, what could the issuers of Bitcoin possibly do to defend against such a fate? Change the algorithm and increase the 26 million to… 52 million? To 104 million? Join the Fiat printing parade? But then, by the quantity theory of money, Bitcoin would start to lose value, just as Fiat supposedly loses value through ‘over-printing’…

We come to the key issue; why search for a ‘new money’ when we already have the very best money, Gold? Fear of Gold confiscation? Lack of anonymity from an intrusive government? Brutal taxation? Fiat money legal tender laws? All of the above. The answer is not in a new form of money, but in a new social structure, one without Fiat, without Government spying, without drones and swat teams… without IRS, border guards, TSA thugs… on and on. A world of liberty not tyranny. Once this is accomplished, Gold will resume its ancient and vital role as honest money… and not a moment before.

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