Years ago coins like worldcoin went on an impressive bull run with bitcoin, but then died out before the next bubble. What are some coins from the 2017 bull run that will never again hit their ATH? What coins will and why?
I hear people say to put money into bitcoin because it is the safest. Many of us have our own favorite alts, but realistically, how many of the top alts in the top 25 will actually survive to see the next bull run? What are some that will most likely die due to lack of funding, interest etc? Anyone around in 2013-2015 that can provide guidance as to why some coins died? Which coins currently that are popular will most likely die out in the next year or two?
A brief history of the 2013 market peak; why some alts really do die; and what would've happened if you'd given in to FOMO
This piece is a follow-up to my earlier piece, which looked at what would’ve happened if you’d purchased alt-coins shortly after the bottom of the 2013-2015 bear market. A lot of the constructive criticism that I received was that I was too bullish on alt-coins, and that the timing was too convenient. Although it’s fair to say that I am bullish on crypto in general and alt-coins in particular (with several major caveats for both), I agree that it’s important to not just focus on historical analyses where it’s fairly clear that you could have earned money. So, today’s research question is whether you’d still be underwater if you’d bought in to the market at or near the 2013 all-time high. All information cited herein comes from the historical charts available at CoinMarketCap. TL;DR: This worst-case scenario analysis shows that $300 invested equally across 15 of the 40 coins in existence near the market’s peak in 2013 would be worth only $429.95 today—gains which are entirely attributable to Bitcoin, Litecoin, and Ripple. This is basic, but it can be dangerous to buy high. This is especially true of alt-coins, but even the top three coins in our sample saw fairly lackluster results when bought at the top of the market. Finally, nothing in this post should be taken as investment advice. This is only intended as historical analysis. Past performance does not guarantee future returns. A Brief History of the 2013 Market Peak According to CoinMarketCap, the 2013 bull market peaked on December 4, 2013, at ~$15.87 billion in market capitalization.* Thereafter, the market crashed dramatically not once, but twice. In the first crash, which occurred between December 5-8, 2013, overall market cap fell by ~39% to ~$9.66 billion. Then, after a brief recovery to ~$13.57 billion on December 10th, the market fell precipitously, to ~$5.7 billion on December 18, 2013. Thus, over the course of only two weeks, from December 4-18, 2013, the market lost ~64% of its value. Although this was by no means the end of the 2013-2015 bear market--which lasted for approximately 17 months and saw an additional decline of ~45% from the December 18, 2013 low--this was the end of the beginning. What If I Bought Crypto Right as the 2013 Market Peaked? Generally, the first rule of trading is** that you want to buy low and sell high. As a result of their fear of missing out (“FOMO”), however, many people find themselves accidentally buying high. Today, I’m going to look at what would have happened to someone who bought their crypto right as the market was peaking. Ideally, I would run this experiment from December 4, 2013, but due to the limited data available from CoinMarketCap, I’m forced to choose between November 24th, December 1st, December 8th, and December 15th. Of those dates, I have selected December 1, 2013, because it represents the worst possible scenario for which I have data. On that date, total crypto market cap, which had hit a new high of ~$15.4 billion the day before, swung wildly between a high of ~$14.83 billion and a low of ~$12.18 billion. Unfortunately, it’s unclear exactly when CoinMarketCap’s snapshot was taken. That said, it’s clear that our hypothetical FOMO trader is about to lose his shirt over the next few weeks, so let’s dive into the specifics. On December 1, 2013, there were 40 coins listed on CoinMarketCap. I won’t list them all here, but of those 40, all but 11 are still listed as active on CoinMarketCap. The truly dead (or “inactive”) coins are BBQCoin (BQC; rank 16), Devcoin (DVC; rank 19), Tickets (TIX; rank 22), Copperlark (CLR; rank 24), StableCoin (SBC; rank 25), Luckycoin (LKY—ironic, I realize; rank 31), Franko (FRK; rank 34), Bytecoin (BTE; rank 35), Junkcoin (JKE—how apt; rank 36), CraftCoin (CRC; rank 39), and Colossuscoin (COL; rank 40).*** Now, since this post is already incredibly long, instead of testing all 40 coins, let’s take a decently-sized sample of five coins each from the top, middle, and bottom of the stack, and look at what happens. For the middle, although the temptation is to take decent alts, let’s fight that and take the group with the highest failure rate: ranks 21-25. So, here’s out pool:
Top Five: Bitcoin, Litecoin, Ripple, Peercoin, and Namecoin
Middle Five: Yacoin, Tickets, Ixcoin, Copperlark, and Stablecoin (ranks 21-25)
Bottom Five: Junkcoin, Argentum, Elacoin, CraftCoin, and Colossuscoin (ranks 36-40)
Now, here are how our sample of coins has performed as of when I write this:****
Bitcoin: Up from $1,083.14 to $6,957.99—a ~6.42x increase
Litecoin: Up from $39.77 to $117.43—a ~2.95x increase
Ripple: Up from $0.047034 to $0.527721—an ~11.22x increase
Peercoin: Down from $7.58 to $1.62—a ~78.6% loss
Namecoin: Down from $9.94 to $1.52—an 84.7% loss
So, if our hypothetical FOMO trader had invested $100 in our top-five sample near the 2013 peak, it would currently be worth $411.80 (the profitable coins) + $3.06 (PPC) + $4.27 (NMC) = $419.13—a 4.19x increase. Now for the two coins in the middle five that didn’t completely die:
Yacoin: Down from $0.311704 to $0.001025—a ~99.7% loss (Note: Since a $20 investment would only be worth a little over six cents, I’m calling this a total loss)
Ixcoin: Down from $0.146275 to 0.111126—a ~24% loss
So, if our hypothetical FOMO trader had invested $100 in our middle-five sample near the 2013 peak, it would currently be worth ~$15.19—an ~84.8% loss. Finally, here are the two coins from the bottom five that didn’t completely die:
Elacoin: Down from $10.95 to $0.212289—a ~98% loss (Note: since this is only worth about $0.39, I’m calling this a total loss)
Argentum: Down from $0.793038 to $0.117466—an ~85.2% loss.
So, excluding everything buy Argentum, if our hypothetical FOMO trader had invested $100 in our bottom-five sample near the 2013 peak, it would currently be worth ~$2.96—a ~97% loss. Putting it all together, $300 invested in this sample of 15 coins as close to the peak of the 2013 market as the data will let me get, would be worth $429.95—a disappointing, but not-unexpected ~30.2% increase over five years. That said, I’m honestly somewhat amazed our FOMO trader made anything at all on this basket of coins, considering how many of them failed. In any case, all of his gains came from the top-three coins from 2013: Bitcoin, Litecoin, and Ripple. Conclusions What’s the lesson here, what’s the takeaway?***** Most importantly, I think the above analysis shows that it can be very dangerous to buy alt-coins when the market is at or near an all-time high—a conclusion that appears to be true regardless of where the alt is positioned in the market. That said, there are a few caveats: (1) this sample was intentionally bad, in order to reflect a worst-case scenario; (2) even buying the top-three coins at the all-time high didn’t net our FOMO trader particularly large gains when compared to someone who bought these same coins after the crash. Therefore, I think that the most important lesson here is not to buy high in the first place. Investing solely because of FOMO will probably cause you to lose money, unless you have invested equally in a broad range of cryptocurrencies, like the trader in our hypothetical. Even then, however, our FOMO trader probably would have done better investing in an S&P Index fund over the same period. Endnotes *This is a correction to my earlier piece, in which I stated that the cryptocurrency market peaked on November 30, 2013, at a total market capitalization of ~$15.2 billion. I made this error due to having failed to narrow the date range of the chart so I could properly zoon in. That said, the exact details of the market peak don’t affect the conclusions from my last piece, which considered trades made after the market had bottomed out. ** …you do not talk about trading. Wait, that’s the wrong rulebook. *** Since I already typed it out, here’s the list of remaining active coins, in descending order: Bitcoin (BTC), Litecoin (LTC), Ripple (XRP), Peercoin (PPC), Namecoin (NMC), Megacoin (MEC), Feathercoin (FTC), WorldCoin (WDC), Primecoin (XPM), Freicoin (FRC), Novacoin (NVC), Zetacoin (ZET), Infinitecoin (IFC), Terracoin (TRC), Crypto Bullion (CBX), Anoncoin (ANC), Digitalcoin (DGC), GoldCoin (GLD), Yacoin (YAC), Ixcoin (IXC), Fastcoin (FST), BitBar (BTB), Mincoin (MNC), Tagcoin (TAG), FlorinCoin (FLO), I0Coin (I0C), Phoenixcoin (PXC), Argentum (ARG), Elacoin (ELC) **** I know that we could have sold them sooner, and probably for more money, but let’s just assume that our hypothetical FOMO trader was a founding member of the #hodlgang. ;-) ***** Don’t mess with Maui when he’s on a breakaway! You’re welcome. ;-) Disclosures: I have previous held Litecoin, and currently hold approximately $140 of Ripple. I do not believe this influenced my analysis in any way. I have never bought or held any of the other coins discussed in this analysis. Edits: Formatting, typos, minor clarifications.
I've been looking into a number of different cryptocurrencies to invest in, and the ones that stick out as (what seem like) good investments are quarkcoins and worldcoins. I'm just getting into this, however. I knew about bitcoins when they were worth under $10/btc, and I kick myself for not buying $500 worth of them. I'm looking to avoid that again. what's y'all's opinion on the next big cryptocurrency?
Ladies, Gentleshibes. I felt the need to react to the following lines "The Dogecoin founder says people won’t get rich of the currency, as many long-term investors have done with Bitcoin. That was reinforced by a decision earlier this month to allow annual inflation of the currency once the hard cap on coins mined by computers is reached." First. I'm sorry to bring negativity here. As I'm an inconditionnal supporter of Dogecoin from the very beginning. I'm 28 years old. I own three well developped businesses in France. It goes from dietary supplements to webdesign. Despite my young age I can consider myself as a successful entrepreneur. In december I invested close to 10.000€ in DOGECOIN. Why ? Because DOGE was the only coin able to touch me. I wanted to become millionnaire and I am not ashamed to say it. I want to spread wealth around me. Help my family. Help my friends. DOGECOIN is the revenge of the geeks. DOGECOIN have much more potential than any other altcoins out there. We're sitting on a whole new market. Crypto-currencies will change the world as we know it. In 1995 there was no Youtube, no Internet, no Ebay, not even cellphones. It's hard to imagine how fast the world is running. BITCOIN and DOGE already took some of the best seats in this new market. The total Marketcap of the crypto-scene will grow a hundred times in the next few years. Like most of the people here I strongly reject the corrupted banking system. I'm sick of the world we're living in. We, the early adopters of crypto-currencies, are going to be the first players in the world of tomorrow. Hundreds of people in 2013 became millionnaires due to Bitcoin growth, as well as Quark (+80000% in 2013), NXT (+25000%), Worldcoin (+20000%) or many others. This is insane. A bunch of hardcore geeks and idealists are becoming the new elite. This market is still primitive. Even worst, 95% of the alt-coins developpers seems to have no clue about business and communication. So Mister Palmer. You said in the interview that you're happy to rise a few bucks for jamaicans on the back of "a fucking joke". I'm asking you, what was the nature of the discussion with the VC investors ? As everybody know nobody can buy Dogecoin. So what did they asked exactly ? THOUSANDS of people like me are heavily investing money in Doge. You're not respecting us. The whole community isn't living in their parents house, mining DOGE for pennies (nothing pejorative here, I used to live in my parents home too). DOGECOIN is meant to be a CURRENCY. So everything isn't about the lols. We need CAPABLE people, knowing how to lead a business. Do you want Doge marketcap to be divided by 100 ? If that's what you want, you're doing it good. External investors could bring their experience in help for DOGE. It isn't necessarly a bad thing. We need PROFESSIONALS of advertising. We need "professionnal grade" services. There's a whole market we have to conqueer and some serious job need to be done. In a few years we could rise millions and millions for fighting poverty and helping kids. JACKSON PALMER you're immature. And you're not respecting "big" believers like me. Whatever you're saying you're still the head of the community and you're able to crash Dogecoin, no matter the good will of the people supporting DOGE at their level. You cannot go without the big money. If no positive signal soon, then reasonnable people holding DOGE will soon start to SELL, because reasonnable people cannot trust in your immature approach of this business. You will stupidely crash DOGE because no one is gonna invest in anything without the hope of a REWARD. I will personnally sell all my DOGES as soon as the price hit my initial investment. MR PALMER I do not know you, maybe you just are a spoiled child, or whatever, but you're seriously making me ill and resentful. This is such a mess. I apologize for the approximative grammar and for the negativity. But this thing is just killing me and obviously I'm far from being the only one. Thanks for reading.
Here are my thoughts on the matter: FedoraCoin is a really great coin with great features and really good devs. Now, is that really enough for a cryptocurrency to survive and thrive? I want to argue that it's not. It's easy to copy coins and enhance their features, we have an extremely competitive market with almost a limitless number of coins, with new coins that always try to be better, offer more features and reach new markets. I would argue we live in a Darwinian place, and those who don't keep evolving as fast as they can will end up as a name in the fossil record. We are still in the kids-shoes stage of the whole cryptocurrency economy that's just being formed. We absolutely need to remember that this is a dynamic and kind of 'alive' system, where even if you had the perfect solution, if no body uses it, it's as good as a piece of stone. In other words, it's not enough for a coin to have attractive features, and clever devs who can come up with innovative solutions when necessary. These are only the basic necessary features that a coin would ideally have so that it may thrive in the future, but they are not enough at all. What's needed in addition to these features, is a community, an active and enthusiastic community that has a vision(s) for the future of the coin, and has the innovative business people who want to build upon what's available to create uses and profit from their endeavours. I strongly argue that a cryptocurrency without a community of innovators and businessmen is to become worthless in the future and it's value while it exists is nothing but speculations and gamblings of those willing to take the risk in the hope that it may succeed one day if they're not only in it for the quick buck. This is the idea that I want to make sure we all become aware of. Without a community of innovators and businessmen, FedoraCoin with all it's nice features and lovely properties is as good as the next coin on the 500+ list of coins. Devs alone are not enough, their job in my opinion is just to maintain the essential building blocks and keep them upto speed with what's necessary in this fast evolving world of cryptocurrency. But they are far far away from creating any business or all the tools necessary to make the coin really useful to a worldwide audience. It's not possible and shouldn't be their job, we must be clear on this. Such a work must come from the community, only a community can have the diversity, multitude of ideas and innovations necessary to help the coin thrive and be used in the real world. So, how do we make sure we cultivate and ENABLE such a community to form?? We need a tool of communication that can do the job, a place for those people to get together and talk about their own ideas, separately, in an environment where they can stay on their subject and follow up etc. What I see in the only tools we currently have, namely reddit, bitcointalk forum, and irc channel, are mainly like a river of ideas and threads that keeps flowing, you toss in the idea and before you know it it's already washed down the stream and even if some people jump on the boat for a while the interested parties need to get off to a separate place on private messaging or whatever to be able to talk, meaning the idea can be followed up by only the two or three persons who liked it and were present at the time, and it quickly dies away since there is no momentum. I think it's obvious where I'm going with this, and I had to stretch out my idea and write all this just to make sure I make my case, that's because I've proposed this idea numerous times before on the bitcointalk forum as well as on the irc channel, but again it was just flushed down the stream and got forgotten. I don't have the expertise needed to create a new forum, so with this post I'm appealing to you all, the devs and the community, hoping you may take up this idea and create that forum. It's absolutely necessary in my opinion if FedoraCoin is ever to move from the realm of just another cryptocoin in the exchange markets to a truely useful tool in the realm of internet economy with actual users and businesses and customers, tippers etc. We have a wide wild west to explore, markets just waiting for the right idea, the whole blogger-socialnetworks sphere to exploit and innovate in it but nothing is happening because there is no momentum, no organization, just chaos of seprate chatter here and there. We already have great examples of forums which we can learn from, I give you here two such communities:
these are two of the most active communities I've ever seen apart from bitcoin and we need to have such a forum in order to let innovative people meet and create their own side projects and develop their own new tools and businesses with FedoraCoin. We can discuss what the subsections should be and what categories are needed, but for now let's just see that such a specialized forum IS NEEDED. We can have a section devoted to community projects, so separate projects can be suggested and the interested would get in on them. We would have a section devoted to discuss mining, the current hashrate and how to defend against ASICS etc. all different specialized places. The previous two communities I showed have even weekly and monthly reports from the devs to keep the community up to date on the current projects and next milestones. We need that if we want a community that believes in the coin and the devs and that can innovate on its own and take FedoraCoin to the next level. Other projects can start to give updates and reports when they are done, we could have a section dedicated to the finished projects and their final status to let people know how they can use them. I hope with this post I could persuade you to see the urgency of having this forum, and I hope to get those who have the ability to create such a place to communicate here and got it done! Otherwise as sad as this would make me, I don't think TiPS will be more than any other coin that will get hyped in the next cycle and then dumped again and I would have to get out cuz all the potential it has would be just theory on paper and it won't be realized because we lack the momentum and the number of innovators working on it. I hope we can get this done!! And in that spirit, live long and prosper, and together, may we forge ahead towards a bright future! but to get there, we still have a job to do I believe :) - ps. for those who are downvoting, would you please comment on why you downvoted? pss. if this post gets 25 points score then icanprogram will make it happen! so don't forget to vote!
Vertcoin and the Crypto Game - Cryptogenesis - A serious discussion about the future.
Hello all, We have been observing in the shadows the development of many crypto currencies, LItecoin, Worldcoin, Vertcoin, Digitalcoin, Dogecoin, Darkcoin, etc....and have been a large network hash contributor of many different scrypt based coins. I have seen big ups and downs in this game. The rise of Dogecoin as a joke but quite profitable coin for mining (tho now it is just screwed, to much supply) and Worldcoin promise and death (sad screw up for that community). The wonderful launch of Vertcoin followed by a month long sell down and trickle off from the miners dumping hard. The launch of Darkcoin which I am watching carefully but just can't see darkcoin being more appealing then say Vertcoin. I have hashed Vert from the start of the launch and stayed true keeping between half and 75% of our network working Vert. I have sold and bought lots of VTC, main MM(market maker) in many crypto currencies but find myself always gravitating back to VTC recently and believe it is holding up the best last 2 weeks and is setting in a long term bottom. I believe net long positions in Bitcoin and scrypt currency is right given the current geo-political climate and as well as the deteriorating economic picture in China. Most people don't know or see it coming but just check out the Chinese banks... the big 4 are entering a dangerous zone and massive sell off may be imminent. Any further deterioration in global trade and tightening by the FED could lead to massive declines in China export trade. I also believe the situation in Ukraine could act as the next catalyst for higher Bitcoin prices, similar to what we saw during the Cyprus bank scare of early 2013 that pushed Bitcoin to new highs. Watch gold as well because that could be a sign that things could be getting dicey as the gold trade has been suppressed for years waiting to explode higher. Check this out to...very interesting given the recent events in Bitcoin. http://blogs.marketwatch.com/thetell/2014/03/07/major-banks-are-looking-at-bitcoin/ “The Fed does not have authority to supervise or regulate Bitcoin in anyway,” US Federal Reserve Chair Janet Yellen http://www.livetradingnews.com/bitcoin-and-government-for-the-people-34834.htm#.Ux2UZfldV8E More news will be coming soon from us as we are building a Crypto Currency consulting firm and I have decided to take a much more active roll in all angles of the crypto game but especially Vertcoin. Vertcoin is the first coin that I believe could have long term potential to be a safe bet equivalent to "risk off asset" in the crypto currency world. Meaning it has longevity providing the community continues to grow and push for new merchants to adopt and new ways to reach out and encourage brand awareness. I think we should consider putting together a Vertcoin Chair Board or Council similar to what WorldCoin has attempted but much cleaner and organized. I also think the website needs to be overhauled a bit, does anyone else agree?? Personal msgs to me are welcome as well, would love to talk and hear from you guys involving the crypto game in general. Thanks, JT
08 Apr 05:41 Hello, We add coins to our platform when the coin's community proves to us that it is worth the effort to add. Since you contacted us, I'll let our developer know that you showed interest in adding execoin. -- Jordan (Agent) https://moolah.io • Next generation payments, today.
Security Question: What is the best place to keep my coins? (newbie on reddit)
Hi, beforehand I am new on reddit and want apologize in case my post is wrong here. I want to safe my coins (bitcoin, dogecoin, reddcoin and worldcoin) the best way but just don't know what the best way is to be secure I would not lose them. Due to the risks of an exchange platform (i lost lots of money on mtgox) i do not prefer to keep the coins there, but i don't exclude this option if that's the best way. Another way would be to keep the coins just on the pc in a wallet. I got a little fear to be hacked, although i encrypted my wallets very well. Also I have more fear of a hard disk crash. Next option I have is to keep the coins on a usb or external hard disk. First of all, is it enough just to save the wallet.dat without other wallet contents? Would I lose the coins if i delete the wallets on my pc? Is it also possible just to install a new wallet on a new pc and get access to my coins if still have the wallet.dat on usb? The most problem here is that I fear that my wallet.dat would not work concerning a big period of time (one year), because of a new software, coding or just because the company of the wallets or currency just say that they don't accept the old wallet.dat file anymore. Is that possible? I think the disadvantages of a paper wallet would be the same (i am not confident with that yet). I really need your help!
Some time back Coinkite announced that it had plans to add additional ALT coin support to their POS terminal, the company selected several alts (Quark, Dogecoin, Auroracoinx, Peercoin, Worldcoin, Mastercoin) as the ones they were considering adding support for. See the announcement here https://coinkite.com/faq/alts Coinkites announcement said that the first coin to accumulate more than 25BTC (by 1 May 2014) for the project would be selected as the next ALT to be added, the 25 BTC will be used to fund the integration of the new ALT into their system I know there was some negative comment in this forum in regards to supporting this project. http://www.reddit.com/QuarkCoin/comments/1y24cq/get_quark_on_coinkite_this_is_huge_we_need/ Even though I don't fully agree we should be donating to a private company for such a project, I believe getting support for Quark on Coinkite POS would put Quark ahead (we already know it is, but in the public's mind) of most other ALTs out there. Support for Quark would also be the benchmark for any other future POS system from other companies. Just imagine being able to buy something from your local business or corner store with Quark. These terminals also have an exchange mode allowing users to purchase Cyptos for cash. Just a reminder these guys have the first Crypto POS terminal the company is also a bitcoin foundation member. Bryce Weiner (who I know does not like Quark) who is a crypto coin developer and well known in the community recently purchased a Coinkite terminal and is know play with it and likes the system, here are some of his recent tweets https://twitter.com/BryceWeinestatus/451605243378155520https://twitter.com/BryceWeinestatus/451603607377297408 The 1 May deadline is quickly approaching so if this is something we want we should be making an effort now also now that Bitcoin is at a low. In terms of funding by the other ALTs Doge coin seems to be leading (http://dogechain.info/address/D8JgMzftfNg6xy5kro3tZPbS8v4yaq3W8t) with about US $41 then Quark at about $18 ( http://qrk.blockr.io/address/info/QgqpBgqKiYLHM9RAoxo9uaZbYAtuSi2KLK ) and then finally PeerCoin not far behind I am willing to put my money where my moth is and donate 10,000 QRK who wants to join me!
What is one thing that bitcoin and most other digital crypto coins do not have?
After reading about the bitcoin convention and reading a blog or two I thought "wow" what a ____fest. The one thing bitcoin doesn't have is a face. Let alone a cute female smile. One thing that got me to buy Litecoin was the face. Charles Lee the man behind the coin. I got in at $2. Now at mid $20s. I got lucky and got 1000 shares. Should of got more, however happy I got that many. So on that note I'd like to say the next best coin that is Better Than Cash is Worldcoin ( /worldcoin ). Like bitcoin it can go to fiat. Like coinbase. Worldcoin has Scharmbeck due to be public in the next 30 days. In Beta testing now. Already tested wire transfers and credit cards directly to and from banks with worldcoin. Now on that note there is 170+ types of crypto coins with with more popping up daily some gone some dead but new ones catching attention without the face. Without the fiat and bank option. Anyone got the face for Worldcoin? http://www.reddit.com/Jobs4Bitcoins/comments/1ucp6e/looking_for_classy_and_cute_femalesnot_trashy/
When I decided to write this guide, I was throwing cryptocurrencies around like they were nothing. I was foolish in the fact that I disregarded the exchange fees that are attached with the services that those exchanges provided. I'm in by no means a cryptocurrency genius, and I'm still not extremely seasoned at it, but I've learned enough about cryptocurrencies in the past month that I feel confident to pass on the knowledge I have learned and to help those who are overwhelmed on where to start. So what exactly is a cryptocurrency? According to technopedia (n.d.) a Cryptocurrency is a type of digital currency that is based on cryptography. Cryptocurrency uses cryptography for security, making it difficult to counterfeit. Public and private keys are often used to transfer the currency from one person to another. When mining cryptocurrencies, one important concept needs to be established, and that's hash rate. Hash rate is simply a unit of measurement of processing power. The more your hash rate is, the more profitable mining becomes. This guide uses specific sites and software, chosen by myself, as a great springboard into the cryptocurrency world. These sites and software are extremely flexible, easy to use, and integrate very well together. The mining pools I've chosen are multiple currency pools, designed to consolidate a major of the cryptocurrencies together, and instead of using several mining pools, you use three. These are the things you'll need to get started: MultiMiner Accounts at Coinotron, The Mining Pool Co., and BitMinter Accounts at Cryptsy and Coinbase There are a few different ways to mine for cryptocurrencies, the common of which are using your Central Processing Unit (CPU), Graphics Processing Unit (GPU), and Application Specific Integrated Circuit (ASIC) devices. CPU based mining is not profitable any longer, and will cost you money in the end by increasing electricity costs. GPU based mining is still popular, but losing steam against ASIC based mining. If you choose to use your GPU for mining, AMD/ATI based graphics cards (especially the Radeon HD 79xx series of cards), are the most efficient. If you have an nVidia based graphics card, I'm sorry. You can still mine on nVidia cards, but your hash rates are going to be much slower when compared to their AMD/ATI counterparts. If you chose to use GPU mining, Black Friday or Cyber Monday are you best bets for upgrading your equipment. ASIC based mining is quickly losing value with the changing difficulty on all networks, but it's the most cost effective way to increase your hash rate, and see a positive return on any equipment purchases. If my math is correct, using the methods in this guide, in order for any ASIC device to yield a positive cash flow, you've got to get a device that has at least a 5Gh/s rate (such as the Butterfly Labs Jalapeno). Now for the fun part, explaining how everything in this well greased machine is going to work. Patience plays a big part in the cryptocurrency world, and when I first started, I had none. I was so eager to see the amount of Bitcoin go up, regardless of how much I was getting penalized in fees from trading. So, that's the first step on your journey. PATIENCE. I CANNOT emphasize this enough. Sometimes, you've just got to hurry up and wait, the effects of waiting things out on the cryptocurrency market WILL PAY OFF. Step one of this machine is signing up for all three pools (BitMinter, Coinotron, and Mining Pool Co.). This is so that you can actually get server addresses to plug into MultiMiner, after signing up for these services though, you've still got a ways to go. Step two is sign up for Cryptsy. I chose Cryptsy because of the features they're going to offer at a later time, as well as support for 60 cryptocurrencies (which covers all but one of which we can mine). When your Cryptsy account is setup, you will need to go into the Balances portion of Cryptsy, and find all of the currencies in which you will be mining from the pools. Once Balances are loaded up, you will need to click on the Actions button next to the currency, and click Deposit / Autosell, and then Generate Address. There's a small clipboard near the address it generated, and that will copy the address for pasting in the mining pool websites. You will want to copy, and paste all of them to a text document, along with which currency it belongs to. Not only does this keep you from juggling back and forth trying to figure out things, but it helps for reference and setting up MultiMiner. Once you have those accounts setup, you'll want to sign up for Coinbase. A WORD OF WARNING FOR THOSE WHO ARE PARANOID... Coinbase will want to link to a bank account, this is mandatory if you want to trade your currencies for cash. If you want to trade currencies, just for the sake of trading, then you can skip Coinbase altogether. You can transfer your Bitcoins from Cryptsy straight into Coinbase, and then sell the Bitcoins from Coinbase, and straight into your designated bank account. MultiMiner, oh how amazing you are. For every cryptocurrency available in all pools, you will need to add these coins, along with server addresses, log-ins and passwords. To do so, click on the drop down next to the Settings button, and click Coins. From there, click on Add Coin, and choose each coin from a pool. This will list it in the box to the left, and give you the ability to add information on the right. You can add multiple servers as well, in case the current server you're mining on goes down. After all your coins are setup, you'll need to setup your Strategies. Click the drop down next to Settings, and chose Strategies. Check the Enable Strategies check box, choosing Straight Profitability from the drop down, and checking the Strategy every five minutes (that way you're not losing money by mining something that has dropped in price). This aggressive price checking makes it to where you're always on top with whatever you're mining. Also make sure you have Mine the Single Most Profitable Coin selected. Stick with CoinChoose as your price source (under Settings), as CoinWarz charges for there services beyond a certain point. Click Start, and take a vacation. Reading the charts on Cryptsy can be a little tricky, and scary if you've never saw those types of graphs before. Those graphs are called Candlestick Charts, and are used primarily in the stock market. I won't go in to great detail on this, however, you can find a nice cheat sheet on the subject here. I hope everyone enjoyed the guide, sorry for being punctual and brief, but there isn't anything too elaborate of complicated about searching for cryptocurrencies. I love mining as a hobby, mining's fun, and if there is any money to be made off of mining from my end, great, if not, I had fun mining. While compiling a spreadsheet of the minable currencies in this guide, if everything is set up correctly (and assuming servers aren't down), you should be able to mine the following:
And while Mining Pool Co. offers ASICcoin and Unobtainium, ASICcoin isn't supported in MultiMiner, and Unobtanium isn't supported in Cryptsy. I still mine for Unobtanium in hopes that Cryptsy will include it one day. References Cryptocurrency. (n.d.). In technopedia. Retrieved from http://www.technopedia.com/
Altcoins.com only a small list of the 200 alt. currencies online
Altcoins AltCoins.com is a list of Bitcoin alternatives Find out more about alternate cryptocurrencies, real alternatives to Bitcoin. This site contains useful information about every alt coin such as client download locations, mining guide, exchange info and more. Use this site to get familiar with live bitcoin alternatives. Use alt coins, mine and exchange them. Keep the alternate chains alive. SHA-256 alternate cryptocurrencies Altcoins using SHA-256, the same hashing algorithm as Bitcoin.
Alternate cryptocurrencies can be mined using the same hardware as for mining Bitcoins (mostly SHA-256 alt coins). While bitcoin mining is going to use FPGA and ASIC devices, scrypt based alt coins can be mined using GPU cards. Hybrid and CPU alternate cryptocurrencies Alt coins using other, innovative hashing algorithms
XPM – Primecoin QRK – Quark SRC – Securecoin Nxt – Next YAC – Yacoin SKN – Skeincoin PTS – Protoshares DRK – DarkCoin Curecoin OFF – Offerings to Cthulhu MED – MediterraneanCoin HTC – Huitongbi PGC – Pangucoin
If you don’t have a GPU or ASIC hardware you can still mine some of the CPU-only altcoins.
CEX.io Recent Posts CGB – Cryptogenic Bullion DGC – Digitalcoin Panda altcoins – PAND – PND – PANDA Pandacoin [PAND] – “The original scrypt Pandacoin” The Panda Coin [PND] – No premine scrypt PoW The Panda Coin [PANDA] – scrypt, 3% premine Elacoin [ELC] – Fair Elastic Scrypt PoW Feathercoin [FTC] Platinum Coin [PT] SHA-256 WorldCoin [WDC] – Coin Of The Future Categories Alternate cryptocurrencies ASC – AsicCoin BLC – Blakecoin BTC2 – Bitcoin Scrypt BTE – Bytecoin CGB – Cryptogenic Bullion CRC – Curecoin DEM – Deutsche eMark DGC – Digitalcoin DRK – DarkCoin DVC – Devcoin ELC – Elacoin FRC – Freicoin FTC – FeatherCoin HTC – Huitongbi I0C – i0coin IXC – Ixcoin KING – Kingcoin KRN – Ekrona MAX – MaxCoin MED – MediterraneanCoin MMC – Memorycoin 2.0 NMC – Namecoin NVC – Novacoin Nxt OFF – Offerings to Cthulhu PAND – Pandacoin PANDA – Pandacoin PGC – Pangu PND – Pandacoin PPC – Peercoin PT – Platinum Coin PTS – Protoshares QRK – Quark SKC – Skeincoin SRC – Securecoin TAG – Tagcoin TRC – Terracoin WDC – WorldCoin XPM – Primecoin YAC – Yacoin
Well one thing I have noticed is the lack of support and services not only to worldcoin but all coins. Bitcoin Litecoin and many more: Over the next month we will put together a list of services we will provide starting with *Consultations - In Person *How to WDC *Accepting WDC *Opening a Worldcoin Business *Wallet Services *Web Consultations *Backup Wallet(s) *Web Hosting Services Sorry but due to restrictions and laws we can not offer money services at this time. Only personal consulting services or gifts~
The company was started by Mike and Ryan, crypto-enthusiasts who saw problems in the marketplace when dealing in cryptos. They wanted an exchange that had a strong support team, legal visibility, operated somewhere where you could trust your money and had strong security - so in short they built it! We expect really big things for VoS and do indeed intend to be competitive with other exchanges, and yes, that does include building an app - we're currently exploring options in that field but we feel it crucial to take our time in doing that and put security first.
As for Charity we just feel its the right thing to do, I've always been a strong supporter of charities in my daily life and I brought that forward to VoS and the team agreed it made sense to gather up some funds for the Canadian Cancer Society given that April is their big fundraising month. On a grander scale I think it's important for cryptocurrencies to play a positive role in the world, let people know what we are all about, there is a lot of negative stigma about cryptos, some people say it's just kids "printing money", but it's a lot harder to say that when you're positively changing the world!
There's not any more pressure on us now than there was before - in fact I would say the MSB has taken some of the pressure off. We instead hold ourselves to the same laws and scrutiny as any financial institution would have to, and we feel this is best for our users and this sector as a whole. Getting the MSB let us know we had done everything right so far, and being in a new and evolving industry it's not always too clear if you're taking the right steps. The MSB is a checkmark that says "Hey you guys are as legitimate as you say you are" and we'll continue to hold ourselves to what ever rigorous standards we can (even when we don't need too). As far as external entities like Banks and Government - I think they are happy to see we have our MSB, I think it makes them more comfortable with the field in general and more willing to work with us. We recently met with our Member of Provincial Parliament and are setting up meetings with our Member of Parliament, and our Minister of Finance so they can see our operation here! The MPP certainly loved what we've got going!
Oh man if Timmies was a payment I don't think Canada would need cryptocurrencies at all! Timbits everywhere! We love Tim Hortons - we usually start our Monday's with group coffee and donuts! So we are never opposed Timmies if you are dropping by for a visit :P (Compliance disclaimer: Timmies is not a valid payment method, just a staple at all Canadian meetings)
We're always happy to take feedback on our charts, let us know what you want to see! As for Bitcoinwisdom, we've reached out to them multiple times, and added all the API support they need - just waiting on them to hopefully add us!
That's a pretty hard question to answer, and so I can't give you an official Vault of Satoshi answer but I can give you a personal opinion. So please note this is my two cents and nothing VoS official.
Personally I have some experience in day trading and that's the best way to make money in such markets - however that's the kind of situation where you have to take risks, actively watch the market and only ever trade with what you have to lose (not only to avoid loss but also to make sure you are willing to take the level of risk needed to make strong returns.) I'd highly recommend learning about Forex trading before you dive into this.
That being said the Bitcoin community still feels strongly that their currency value will rise, subject to merchant adoption, legal/political landscapes and a number of other factors but I can't really comment on that as it is a real challenge to predict; there is also a great deal of merit to a number of altcoins with unique value - but just make sure you research and make informed decisions. Don't take anyone's advice at face value (mine included) research and invest where you feel comfortable.
As for confidential information, if you have ever made a financial transaction on our website then we are required by law to keep a copy of that information. We take this responsibility very seriously, this information is encrypted and stored securely and is most certainly restricted access!
As for your other question, as Xangelo said, we are working on improving the layout of our coin to coin system to make it less complicated. Being one of the first major exchanges to offer any coin to any coin means there is going to have to be some tweaking while we find out what the marketplace likes! But we're always open to feedback!
If there is anything that years of video game playing has taught me it's always pick the bigger monster over a ton of little ones! A hundred duck sized horses could quite quickly surround and nip and kick from all angles. Where as I feel that whilst a horse-sized duck would be absolutely terrifying my odds are better as I can always keep it in front of me (and perhaps distract it with breadcrumbs)
That being said when we did work with them they were fantastic, very supportive, and loved our business; the local branch went to some great lengths to help with our unique challenges and we certainly hope we can work with them again in the future.
We're currently actually streamlining our financials and will have more announcements on this soon. New partnerships are opening up doors to new payment methods and currencies and we're excited about that.
We are a full reserve exchange. We do have our holdings divided between our hot and cold wallets and top our hot wallet as it gets low. But we do have all the BTC we claim to and are actively working on a Proof of Solvency tool to verify this to users.
Anything that has a unique value proposition and a strong community has the ability to go places but it's pretty hard to gauge these in advanced. We expect great things from the coins we've added/intend to add over the next month, which have all been announced.
Just because you have an account with us, does not mean that you would be barred from applying for a job.
Currently we don't have any openings but when we do we'll be posting them to our website and all current positions would be located at our Brantford office.
Our verification system was designed by our exec team and our compliance officer and aided by our legal team; and our support staff handle the verifications. (Wasn't sure what you meant by "verification team") as for requirements for any opening, we'll be sure to post them with up coming jobs! Thanks for your inquiry though!
The IRS statement actually doesn't change to much for us, FinCEN and other entities still consider it as currency - we're still actively looking into US options and moving forward on some with our legal team.
We have met with our Member of Provincial Parliament, are meeting with our Member of Parliament and are having a meeting with the Minister of Finance arranged to continue to advocate on behalf of cryptocurrency in Canada.
From everything we've been hearing, we're optimistic about Canada's role in the future of Cryptocurrency, people have been very forward thinking and accepting here!
I've actually had the pleasure of talking to some reps from the MintChip program - we kept a careful eye on it but I know that the Mint is selling it off to private enterprise. While it is in a different space from us we are always looking at the evolving landscape of digital money and what can be done to promote that in Canada.
While I don't think there is any direct partnership opportunities at this time it is always something on our radar and I think that MintChip was an interesting hardware development and it was great to see a federal institution being so forward thinking!
We currently do accept USD, we just can't accept it from US citizens or institutions.
That being said we are glad to announce we have identified our US re-entry strategy and are moving forward to launching in a few states first. We have no formal timeline on this yet, but it's a big step in the right direction.
We're actually working on adding an instant online Interac payment system, still no formal timeline but it's in the works. As for email transfers from BMO, BMO has come out and said they aren't working with businesses that operate in cryptocurrencies and so we can't accept funds from them on anything that would require us to have a BMO account or registration there. But, we can accept Pre-authorized debit and wire transfers from accounts there! Also feel free to email me about any concerns you may have about the level 3 account and I'll see if can't reassure you! ([email protected])
Ah yes, that is indeed a side-effect of the patch. While our systems weren't directly effected a load balance server hosted by Amazon would have been so to be better safe than sorry we've got them patching it and we are rolling over to new SSL certs! Always better safe than sorry!
Worldcoin's advocates claim this makes theirs the currency of choice for both consumers and merchants alike. The current reward for miners is 64 coins, but that is projected to be reduced by 1% each week. It should be noted many industry insiders are arguing that Worldcoin's truncated confirmation times can also lead to lower transaction security. The forecast of 1 Bitcoin varies from 100 to 1’000’000 USD within the next years. A huge bandwidth. But as we all know, forecasts are as good as looking into a crystal ball. So, how much is a Bitcoin really worth? And how much will it be worth in 5, 10, 15 years? Skeptics say … Continue reading “The Bitcoin Price in 5 Years” Now, bitcoin and cryptocurrency financial rating agency, Weiss Ratings has suggested binance coin could be the next bitcoin due to it dictating the direction of the market in recent weeks. Bitcoin is the world’s first cryptocurrency which works on a completely decentralized network known as the blockchain. The blockchain network consists a link of blocks that are secured using cryptography and record all the transactions. Bitcoin was first presented to the world in 2009 by an anonymous identity known as Satoshi Nakamoto. Cryptocoins ranked by 24hr trading volume, price info, charts, market cap and news
One Of A Kind: Why Bitcoin is 'The Next Bitcoin' - YouTube
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