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Monero is an anonymous crypto-currency known for being preferred by dark net’s largest marketplaces, where drugs and illicit goods are sold. Darknet marketplaces were made popular by Ross Ulbricht’s Silk Road, which landed him a lifetime in prison.

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Bitcoin Press Release: Bitcoin TRADING SYSTEM | ERA SUPER INVESTMENT (This is an incredible story of a system that WAS BORN through DECEPTIONS …) https://www.robotrader.org It all started five years ago, I had my first contact with Bitcoin in November 2010. When I started the Bitcoin activities in Brazil, it was completely unknown to the […]

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There is no shortage of ideas about how to meet the bitcoin scaling challenge. More importantly, however, is the willingness of the community to share its ideas and work on ways to bring them to fruition. This much was obvious from this weekend’s Scaling Bitcoin “Retarget” conference held at the Politecnico di Milano Piazza Leonardo […]

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SolarCity CEO Lyndon Rive is confident 2017 will be the company's big year.

The company was thrust into the spotlight when Tesla CEO Elon Musk, who is also Rive's cousin, offered to buy SolarCity in a deal worth $2.6 billion in June. With more than $3 billion debt, many have referred to the deal as a bailout. But Musk and Rive stand by their vision that the merger will create "the world’s only vertically integrated energy company."

Yet, despite criticism, Rive told Business Insider that "next year is going to be the big year for solar," because of the solar roof product the company plans to unveil October 28.

SolarCity's 'headwinds'

Rive will be the first to note that it hasn't been a great year for SolarCity.

"This year was definitely a rough year for the solar industry," Rive told Business Insider. "We had a lot of headwinds."

The "headwinds" Rive is referring to, specifically, is when the Nevada Public Utility Commission moved to lower the reimbursement rates given to energy customers who generate excess power using their solar systems. That decision has since been reversed, as Nevada residents are now grandfathered into favorable rates for the next 20 years.

But the ripple effect of the Nevada debacle was enough for SolarCity to lower its forecast for the volume of panels it plans to install from 1,250 megwatts earlier this year to the 900 megawatts to 1,000 megawatts range, Rive said.

But that's not the only challenge the company has faced. SolarCity's debt has ballooned to more than $3 billion, and according to data compiled by Bloomberg, $1.23 billion in debt is due by the end of 2017. 

Strapped for cash, SolarCity has changed its strategy. The company has conventionally leased panels, but is now selling more panels to increase cash flow. SolarCity introduced a loan program in June to incentivize purchasing as part of that change in strategy.

SolarCity has also cut its marketing costs, as first reported by the Wall Street Journal. Layoffs are also occurring within the company, and Rive specifically noted there have been "changes in our sales and marketing team."

"When you’re growing as fast as we’re growing, sometimes people cannot keep up with the size of the organization," Rive said. "You need people to hop around and, so, we made some changes there."

A potential turnaround

Although SolarCity has struggled with cash flow, actual residential solar adoption is expected to grow. Bloomberg New Energy Finance reports that US installations are expected to more than double by the end of 2018, reaching 13.1 gigawatts.

Rive said that the roof product unveiling combined with growing demand for solar will make 2017 a big year for SolarCity.

"We should definitely increase forecasts for 2017," Rive said. "I think there will be high demand for solar combined with storage. Our solar roofing offering opens up a whole new market we haven’t addressed before."

Musk has commented on the "huge market" potential opened up by the solar roof as well.

"There's a huge market that is sort of inaccessible to SolarCity because people know they are going to have to replace the roof and you don't want to put solar panels on a roof you know you are going to replace," Musk said during SolarCity's second-quarter earnings call. "However, if your roof is nearing end of life and you have to get a new roof anyway...so why not have a solar roof that is better in many other ways as well."

Rive added that the solar roof will also give SolarCity a long-term advantage going forward.

"I believe that, next year, what is going to separate solar companies from one another is going to be their product," Rive told Business Insider. "If the consumer can’t necessarily tell the difference between solar company A and B’s service because they claim to both have the best service, then you have to have product differentiation."

Rive said that he expects such mass adoption for the solar roof and at-home battery that there will eventually be "hundreds of thousands, if not millions, of solar systems combined with storage."

SolarCity's ultimate goal is to then have an infrastructure that utilities can leverage in order to load balance the grid, Rive added.

"That’s where we see it playing out," Rive said. "Large scale solar storage combined with solar will be deployed in a distributed structure, not as a large system, and then it’ll be far more cost effective for the utility to use that infrastructure than to build a new powerplant."

SolarCity created a software product in early 2016 that would allow utilities to use such an infrastructure, Rive said. However, the product hasn't launched yet because SolarCity doesn't have a large-scale storage network yet. Merging with Tesla will play a big role in building out this type of at-home storage network.

Essentially, Rive is looking to edge out the competition with new product offerings. The potential deal with Tesla contributes to that larger vision, as integrating storage into SolarCity's installation process is key to creating an infrastructure that can eventually be leveraged by utilities.

Still, there are a lot of "if's" here. For one, we still have to wait to see if the Tesla-SolarCity merger goes through. Additionally, we can't be sure the solar roof will catch on the way Rive is predicting, especially until we see it October 28.

But Rive is confident in his plan, noting that SolarCity will increase its installation forecasts for 2017.

"Next year is going to be the big year for solar and storage," he said, adding that it's "because we're launching the product in October."

"We have a better product now than we’ve ever have before that’s really cost effective that we think will have large adoption," Rive continued.

SEE ALSO: Tesla is gearing up for a surprise product announcement — and Elon Musk says it'll be 'unexpected by most'

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NOW WATCH: Forget solar panels — Elon Musk wants to build Solar roofs

Presidential Candidate Hillary Clinton believes Wall Street insiders can lead financial reform of themselves. The revelations, however, did not grab the attention of mainstream media unlike chauvinistic comments made by her opponent, Republican Presidential Candidate Donald Trump. “Remember what Teddy Roosevelt did,” Clinton said. “Yes, he took on what he saw as the excesses in […]

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Following up on the weekend look at Bitcoin’s long term price chart, we will look again today at the long term (8 day candle) chart of BTC, per Kraken. Over the weekend we looked at a Bull Setup.  As we saw, that setup suggests a bull move that will likely last several more months.  But […]

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Diwali, the Hindu festival of lights, is soon upon us, but could this celebration filled with fireworks, decorations, and lights help boost bitcoin adoption in the country? On October 20, Diwali will, for five days, light up the skies as Indian people around the world celebrate the festival by lighting candles and fireworks to seek […]

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 Ripple has reached an all-time high in market capitalization, according to CoinMarketCap. Ripple’s CoinMarketCap chart threw up unexpected numbers this morning. Whether an error or a rabid surge, Ripple registered an explosion in market capital early Monday morning (GMT), scaling from $270 million to $1.2 billion. Trading volumes have more than doubled to over $8.7 […]

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 Ripple has reached an all-time high in market capitalization, according to CoinMarketCap. Ripple’s CoinMarketCap chart threw up unexpected numbers this morning. Whether an error or a rabid surge, Ripple registered an explosion in market capital early Monday morning (GMT), scaling from $270 million to $1.2 billion. Trading volumes have more than doubled to over $8.7 […]

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In Raleigh, North Carolina, a father-and-son team are bucking the trend of industrial bitcoin mining.

Source

Keene, New Hampshire launched a local bitcoin radio ad campaign today in a bid to empower local bitcoin owners so that they can keep more from each sale instead of paying a percentage fee to credit card companies. When it comes to the adoption of bitcoin, Keene is considered a forward-thinking community that is embracing […]

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Press Release: vDice is Ethereum’s leading blockchain gambling game. It went live in June this year. In only 3 short months it has already processed near 10,000 bets. After sponsoring Ethereum’s Devcon2 in Shanghai, interest was high. This week they announced their Crowdsale. vDice will be issuing their own token on Ethereum. It will be directly […]

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According to reports, Indian bitcoin wallet provider Zebpay is in talks to secure $4-$5 million in a Series-A round of funding. By November, bitcoin wallet startup Zebpay is expecting to close Series-A funding of $4-$5 million, according to co-founder Saurabh Agarwal. A report from Indian business daily The Economic Times revealed that the company is […]

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