OMC - To the Moon on BW

OMC will be launched on BW “To-the-Moon” on December 19, 2019.

Please read the article HERE


Ormeus Ecosystem - New Mining Building

We are happy to announce our mining partners are prepared for the delivery of our mining equipment.

Please WATCH HERE the first part of a series of videos to update the community on our mining facilities progress.


The Cusp of Revolution - Driving Businesses Digital Economy with the Ormeus Ecosystem!

Bring on the digital economy!

Like the robust economic growth in Vietnam whose policies and support of international business interconnection has created a boom, businesses who take part in the Ormeus Ecosystem will benefit from the world’s first fully-interconnected asset-backed blockchain technology complete with the financial DNA of governance, automatic KYC, and full anonymity via cross-chain and side-chain business to business communication.

Catch up with John Barksdale in Saigon as he gives us an update on exciting new developments for Ormeus ECO, Ormeus Cash and new augmented-reality OMC GO localized offline decentralized exchange.

Please watch the VIDEO HERE


ORME & ECO Are Soon To Be Accepted at XcelTrip, Stayed Tuned!

Pay for your travel with crypto!

Ormeus Ecosystem and XcelTrip are pleased to announce that ECO & ORME will soon be available to pay for services on the XcelTrip website.

XcelTrip is a blockchain-based, decentralized travel Ecosystem!

You can check out their page HERE.

XcelTrip have also been mentioned on FORBES as a top 6 startup flourishing outside the U.S.

This is an exciting development for Ormeus Ecosystem in its vision to create real-world cryptocurrencies that can be used to pay for goods and services.

Features include –
* Over 1.5 million hotels and 400 airlines listed on their site and counting;
* Great rates when paying with cryptocurrency;
* XcelTrip mobile App so you can book on the go;
Supported languages – English, Chinese & Korean.

They are making it easy for you to use your crypto to book your next hotel or flight with them. Plus there are some potentially great savings by using crypto, compared to paying with fiat on the traditional big-name travel websites.

Check them out today and get ready to use ECO & ORME for your travel very soon!!


Cryptocurrency Miners Make Big Promises In Small Towns

Massena, N.Y., perched on the northernmost border of New York state, is the archetype of the company town that has lost its companies.

Downtown there’s a pillared town hall and a Main Street lined with stately old buildings, along with an empty union hall, a couple of banks and restaurants, and a bunch of vacant storefronts — echoes of the town’s more prosperous past.

Aluminum giant Alcoa drove the town’s growth in the 1900s, attracted by the plentiful electricity generated by a nearby hydropower dam on the St. Lawrence River. But Alcoa has downsized greatly over the last decade. General Motors and Reynolds Metal plants closed, too. Massena has hemorrhaged hundreds of jobs.

That’s why back in January, Massena’s Town Supervisor Steven O’Shaughnessy was over the moon when – rather suddenly – companies that do something called “Bitcoin mining” came knocking. “They need lots of power, and they need to be able to count on it,” O’Shaughnessy says. “And we can provide that.”

The firms promised millions of dollars in investment and hundreds of jobs.

Bitcoin…mining?

A quick primer on “Bitcoin mining”: Bitcoin is the best known of the digital or crypto-currencies – which operate completely independently of banks. Instead, they rely on powerful computers around the world to verify every transaction that uses a digital coin. People operating those computers earn new coins for doing that verification work. That’s called mining.

Hundreds of computers at Digital Skynet’s facility in Massena, N.Y., connect with millions of others around the world to process cryptocurrency transactions. That work consumes vast amounts of electricity.

So companies eager to get into the cryptocurrency game have been setting up huge warehouses full of computers all around the world to mine digital coins. Cool climates are best; the computers generate a lot of heat. But more than that, mining servers gobble up vast amounts of electricity.

According to the Digiconomist blog that follows cryptocurrencies, all the Bitcoin mining computers worldwide consume more power collectively than the entire nation of Czech Republic. And as more mining companies seek their digital fortunes, that energy consumption is only increasing.

That quest for cheap power – remember the hydropower plant on the St. Lawrence that fueled Alcoa? – is why a Hong Kong-based company called Digital Skynet Limited came to Massena and set up hundreds of computers in an old factory on the outskirts of town.

Inside a Bitcoin mine

Inside the converted factory, spokesperson Tina Barksdale, wearing a comfortable blue cardigan and slacks, points to five shelves stacked with humming, shoebox-sized computers. “Those are the miners, and as you can hear, they make a lot of noise,” she shouts above the din of large cooling fans.

Barksdale says Digital Skynet employs 20 people here now. But she imagines something much bigger – many more computers, and also the seeds of an innovation hub for the technology behind cryptocurrency, known as blockchain. She envisions a transformation for the town of Massena, “from being just Massena, N.Y, to being a cryptocurrency ‘Silicon Valley’, a place where people in cryptocurrency come,” she says.

Barksdale says there could be hundreds of new technology jobs – and the support services that go with them.

“But of course,” she cautions, “it all depends on the power.”

Tina Barksdale and her brother, Eli Barksdale, manage Digital Skynet’s cryptocurrency mining operation in Massena, N.Y. Right now, they employ about 20 people, but they envision a digital currency innovation hub in the town that would create hundreds of jobs.

A gold rush for digital coins

When the value of a traded Bitcoin soared to almost $20,000 late last year, a Bitcoin mining rush hit lots of places with cheap power, from Louisiana to Washington State.

But the job benefits were limited; it only takes so many employees to keep an eye on a bunch of computers. And in some places, the power-hungry miners started driving up electric rates for everybody else. Near Massena, the city of Plattsburgh, N.Y. put a moratorium on new mines because of rising electric bills.

So local leaders, like New York State Senator Joe Griffo, who represents Massena, began to ask, will cryptocurrency mining really create enough jobs to justify using all that electricity? And will those jobs last? “I would not dismiss [the industry] out of hand, but I think you need to look at things realistically,” Griffo says. “Where’s Bitcoin going to go over time?”

Digital currency values have been all over the place. Bitcoin itself has steadily dropped for most of this year. So the big question is: if the price keeps dropping, will the miners stick around?

Seeking a more energy-efficient technology

Lex Sokolin isn’t so sure. Sokolin calls himself a “financial futurist.” He studies digital currencies and the blockchain digital bookkeeping technology they rely on for Autonomous Research in London, and he believes cryptocurrency has a promising future. But he thinks it’s inevitable that developers will come up with a more energy-efficient way to mine them.

“It just seems preposterous to me because the amount of electricity that’s being used in it is growing and growing and growing,” Sokolin says. “I think the community will try to find a different way to do this.”

If that prediction is accurate, towns like Massena would lose their advantage.

Digital Skynet’s Tina Barksdale says that very uncertainty is why Massena should embrace Bitcoin mining now – to establish its position in the fast-moving digital currency economy.


A Look Inside A Cryptocurrency Mine

Hundreds of computers run night and day. Each one is basically a little supercomputer. They work on solving the complex equations that cough up cryptocurrencies like Bitcoin.

It’s happening right now in a warehouse in the Massena Industrial Park.

“Right now, Massena has the capacity to be the Silicon Valley for cryptocurrency,” said Tina Barksdale, Skynet Digital spokesperson.

More than a dozen people work at Skynet Digital. Basically it’s all about monitoring the stacks of computers. Any problem occurs, it has to be fixed. Cooling is also a huge job. The cold climate helps. The mining is being done for Ormeus Coin.

“I think what most people in the local community should understand is that this is the way the future of money going,” said Tina Barksdale.

Skynet Digital is not the only cryptocurrency miner in Massena. Coinmint has leased the former Alcoa East smelter. Blockchain Industries wants to buy town land to build on. Local officials are cautious.

“It’s a learning curve and we are learning, but we are finding out about it. And we want to make sure it’s here to stay. And we certainly hope it will,” said Steven O’Shaughnessy, Massena town supervisor.

The profitability of cryptocurrency miners depends on the cost of electricity. Some have asked the New York Power Authority for discounts.

“It’s basically a gold rush. The gold that is here is the hydro-dam. It’s the power and the cheap electricity that’s here,” said Tina Barksdale.

Skynet Digital is small but wants to grow bigger. Elijah Barksdale is managing it. He, six brothers, and his sister are all working for the company. They were raised in Richville.

“We’re from upstate New York and we understand the job disparities of this area and we wanted to be able to bring something back to the community,” said Tina Barksdale.

Skynet Digital is training a people for that something bigger. It mines cryptocurrencies for Ormeus Coin, which is making a play to become one of the world’s top 10 cryptocurrency miners.


Russian Central Bank Cracks Down on Cryptocurrency

The Russian government is currently keeping all cryptocurrency owners in the country on their toes as it decided to crackdown on cryptocurrency websites.

The Russian government is currently keeping all cryptocurrency owners in the country on their toes as it decided to crackdown on cryptocurrency websites.

Taas.com reports Russia’s Central Bank’s First Deputy Chairman Sergey Shvetsov, as saying that the bank welcomes imposing any restrictions on operations of external websites. Though the government has said that its decision to ban external websites dealing on cryptocurrencies is premised on the fact that cryptocoins pose a risk to its citizens and businesses, this reason is highly doubtful.

In the past months, the government and its financial regulatory agencies have been considering descending the sledge hammer on the heads of cryptocurrency traders and exchanges. The reasons advanced for their actions, though may hold some water, may not really be why such harsh actions are being taken.

Cryptocurrencies, especially bitcoin have been seen as serious threats to fiat currencies and the gains derived from printing them. Since blockchain was brought into the financial market scene, it has been considered a serious technology capable of upsetting the ways things are done in the system.
Bitcoin, for instance, has been widely accepted as the digital currency of choice for financial transactions online and for payment for goods and services. And since it is decentralized, Bitcoin, Ethereum and some other carefully selected cryptocoins have made things relatively easier, reducing the confirmation time for financial transactions, and putting you fully in charge of your own portfolio with no external interference from banks and other financial regulatory agencies. This indeed has become a source of worries for several governments across the globe.

First Deputy Chairman Sergey Shvetsov has openly declared that the Bank saw “all cryptocurrency derivatives to be a negative development on the Russian market and do not consider it possible to support it.”

The ban on external websites comes on the heels of the recent complaints by the Russian President Vladimir Putin, who had earlier demanded for the banning of cryptocurrencies, bitcoin in particular, asserting that they could be used for money laundering, evading taxes, and terrorism financing. The president went on to say that bitcoin itself is a pyramid scheme.

Sputnik reported last month that the head of the Central Bank of Russia, Elvira Nabiullina, has said “we are categorically opposed to introducing cryptocurrencies in regulation as a monetary asset.”

While addressing reporters, the Deputy Finance Minister has stated vehemently that the country would not make Bitcoin payments legal.


Central Australian Bank Might Soon Launch Cryptocurrency

FinTech companies in Australia have been demanding that the central Australian bank issue the Digital Australian Dollar.

Several Australia-based FinTech startups have submitted proposals to the Australian central bank and Federal Treasury to create a state-sponsored Australian cryptocurrency, the Digital Australian Dollar.

According to the Australian Financial Review, three prominent FinTech startups, including FlashFX, AgriDigital, and Othera, have approached the bank via the industry advocacy group FinTech Australia, as well as the governmental FinTech Advisory Group. These startups have urged the bank to give due consideration to creating the Digital Australian Dollar (DAD). According to reports, the DAD will be linked to the current fiat Australian currency, and reportedly is set to confirm the country’s growing blockchain enthusiasm, according to FinTech Australia chief executive, Danielle Szetho.

According to Szetho, key stakeholders such as the RBA will ensure a relationship based on trust when Australian users are introduced to cryptocurrencies. While, being linked to fiat currency, the DAD will not be able to undermine the current stability of the current Australian currency.
So far Szetho proved a critical advocate for the cryptocurrency, while also being critical of the Australian government’s delay in delivering on their promise to end double taxation in the case of cryptocurrency transactions. The double taxation was finally ended this year.
FlashF, based in Sydney, was one of the pioneering startups which provided financial services to facilitate blockchain related activities. While all three startups have their own tokens, they argued that the DAD would be more powerful than any other digitized version of the Australian dollar, as well as create trust amongst Australian citizens.

According to FlashFX chief enabling officers, Nicolas Steiger, a DAD endorsed by the government would encourage increased trust and certainty amongst users. In addition, implementing the DAD would lead to immense growth in the marketplace. Lastly, it would discourage unofficial parties to release unendorsed digital Australian dollars.

Another advocate for state-backed cryptocurrency is the blockchain startup, AgriDigital, who facilitates transactions between farmers and buyers.
While AgriDigital uses blockchain to record, store, and facilitate transactions, payments are still in the fiat currency. This is mainly due to the volatility of cryptocurrency.

According to AgriDigital co-founder, Emma Weston, a state-sponsored DAD would make payments easier and more convenient.
The last startup, Othera, manages digital loan contracts that are based on blockchain technology. According to Othera’s chief executive, the company is currently pressed to work with existing legacy payment systems in the financial industry in order to process payments from loan borrowers before they can forward payments to the token holders of the contract.

John Pellew, CEO of Othera stated that the current system is a slow and painful process which does not sufficiently utilize the full scope of what blockchain technology has to offer. A DAD would enable all companies to unlock a significantly quicker and more convenient payment technology.
According to reports, the Australian central bank is currently engaged in reviewing the proposals and launching an investigation before they will reveal their decision.


Estonia Becomes Cryptocurrency Leader in the Baltic Region

With its cryptocurrency-friendly attitude and innovative tech industry, Estonia has established itself as the Bitcoin leader in the Baltic area.

The Baltic region has always been a promising area wherein which cryptocurrency can flourish. The Baltic, which consists of Lithuania, Latvia, and Estonia, is significantly poorer than its Western European counterparts. However, the Baltic has experienced an economic boom in the last decade, partly thanks to Bitcoin and other cryptocurrencies.

This is especially true in Estonia. Estonia, the birthplace of Skype, has always shown innovation in the IT industries. The tech-friendly attitude as well as the economic situation, has made Estonia the prime location to become a prominent Bitcoin exchange market.

Other considerations also factor into Estonia’s cryptocurrency success. Firstly, it is extremely easy to open up a business in the country. In addition, gaining access to the government is equally easy. Expenses for opening an LLC equates to less than $10 000. Due to the convenience of the process, several firms carry the OÜ extension, which is the Estonian equivalent for LTD. The convenient Estonian registration process might also become more widely used in blockchain projects, such as the .io domains are already employing.

Many experts believe that Estonia and their Baltic neighbours could soon become leaders in the cryptocurrency industry. Currently, Russian authorities are employing a largely draconian regime when it comes to cryptocurrency regulation. Considering Estonia’s, proximity to the Russia, businesses, and traders will soon look towards the Estonian market to replace the gap left by the Russian market.
To make its position stronger, the Baltic area has a high concentration of Bitcoin full nodes. The nodes are a confirmation of the region cryptocurrency knowledge.

Currently, Lithuania boasts with the most nodes at 66 nodes. This number competes with several other crypto-friendly countries such as the Ukraine, which has 80 nodes, Poland with 66 nodes, and the Czech Republic which has 65 nodes.
While these statistics can not yet compare with cryptocurrency leaders such as Japan, or the US, the numbers are indicative of the countries’ strong position in cryptocurrency. While Latvia only has 16 nodes, and Estonia 10, these countries have confirmed their cryptocurrency leadership in other ways.

In addition to Bitcoin nodes, Lithuania also holds Monero nodes and three Litecoin nodes. While Estonia and Latvia both hold four Litecoin nodes respectively. This puts the area ahead of other tech-innovative countries such as Switzerland.

While comparing nodes alone cannot give us a comprehensive look at a country’s Bitcoin future, it is a good indicator of possible success and dominance.

The area has also been experimenting with issuing their own cryptocurrency coins. Earlier this year, Estonia announced the creation of estcoin, a token based on an Ethereum principle. However, this coin received a lot of criticism, including that of Mario Draghi, the president of the European Central Bank, who was quick to remind Estonia that the official currency will remain the Euro.

Despite the criticism, Estonia continued to operate the e-residence program. Several experts believe that blockchain tokens can co-exist with fiat currency in the future if the currencies do not merge or cross into each other’s territory.

Given the openness of Estonia’s e-residency as well as the convenience of starting a business, Estonia has become the most sought-after options for start-ups. Currently, Estonia has less than 2 million residents, which means that they might choose to extend their e-residency to build a worldwide population of over 10 million people.

The e-residency could place Estonia as one of the main blockchain capitals of the world.
Estonia and the other Baltic states have managed to turn their biggest disadvantage into an attractive option for investors. The underdeveloped investment and finance sector, which previously was a burden, has now become a promising option for the cryptocurrency start-up option.


Bitcoin Gold Releases Statement to Address Criticism

As the upcoming Bitcoin fork edges closer, the Bitcoin Gold project has received a lot of criticism from the crypto community.

The cryptocurrency community has been ardently discussing the upcoming fork, and Bitcoin Gold (BTG) in particular as the fork deadline is scheduled for 25 October. Several users and developers have conducted comprehensive investigations as to Bitcoin Gold’s code and found it lacking in more ways than one.

The flaws pointed out by the community as well as the lack of available information on BTG has led to a fair share of skepticism surrounding the fork. Several users on BTG’s Slack channel have also voiced concern over BTG both in the form of asking the developing team questions, to denouncing BTG as “shady.” Many users have also expressed their astonishment at the severe lack of infrastructure and exchange listing with the fork deadline looming.

One particular user used a reverse Whois background search on the BTG website to found the domain owner. The user’s research revealed that the BTG website owner also owns several other cryptocurrency domains. The same user also discovered that BTG’s algorithm is unfinished and has no added replay attack protection. As for the code itself, it did not show any concrete signs of developing, despite the fork deadline being just one week away. In addition, the code displayed an implemented pre-mine which means that the developers will have a lot of BTG if the project does end up successfully forking.

However, two weeks ago, the developing team responded to accusations and criticisms via an official statement.
According to the BTG accusers and critics simply did not understand the decentralized nature of the bitcoin network, and went on to address several other concerns.

In regard to the lack of replay protection, the BTG team stated that the replay protection code is relatively simple compared to the PoW change. However, the team did not confirm that replay protection will be added before the launch. They also cited the problem of lack of volunteers. So far, the BTG has only had one developer volunteer for the project.

The BTG team addressed the unfinished Equihash implementation by stating the true consensus change is still incomplete. They also noted the change in difficulty which led to the adjustment algorithm to not yet be merged with the code. As to the pre-mine, the team stated that the code came from a fundraising idea earlier this year.

While the BTG team stated that the idea did not fully reflect the vision and spirit of the entire team, they also did not rule out the idea of removing the code either. The team stated that they might keep the code as means of basic funding for the project which is made up of volunteers. However, the team stated that they will make a detailed financial plan available to the public for the sake of transparency.

In addition to the criticism, BTG has also experienced other issue in the form of illegitimate websites claiming to provide users early access to buy BTG. The website “claimBTCGPU” claims that users are able to enter their BTC into the system to pre-claim their BTG, but that users will not be able to spend the BTG yet.

The website also gives detailed instructions, including pictures which illustrate the process. The website claims to be a BTG wallet which gives BTG transactions a priority.

Several members of the crypto community have already denounced this website to be a scam via several social media channels.