Wednesday, October 16, 2019

Meet the pedal-powered crypto miner

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The British company 50 Cycles created the world’s first unique electric bike, Toba, mining Loyalcoin cryptocurrency when riding. This is stated on the developers’ site.

An unusual bicycle was introduced to the company’s 15th anniversary. According to the head of the company Scott Snaith, mining tracking will be possible in the application installed on the smartphone.

According to the manufacturer of the bicycle-miner, to get a $ 26 in cryptocurrency, it is necessary to travel 1600 kilometers (20 GBP per 1000 miles).

Once earned through pedaling, the TOBA’s coins can be redeemed across a number of brands and stores or traded for renowned digital tokens such as Litecoin, Bitcoin, XEM, and Digibyte – all of which can be accepted for any bike models or accessories on the 50cycles website.

At the same time, the cost of this vehicle is about 2250 dollars. To make this Toba bicycle-miner profitable and get the “invested money back”, you need to travel a distance equal to about four lengths of the equator.

I can see it now. Hundreds of Toba bikes set up on platforms mechanically peddling to form a massive loyalcoin farm.
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