New England New England 6 States Songs: https://www.reddit.com/newengland/comments/er8wxd/new_england_6_states_songs/ NewEnglandcoin Symbol: NENG NewEnglandcoin is a clone of Bitcoin using scrypt as a proof-of-work algorithm with enhanced features to protect against 51% attack and decentralize on mining to allow diversified mining rigs across CPUs, GPUs, ASICs and Android phones. Mining Algorithm: Scrypt with RandomSpike. RandomSpike is 3rd generation of Dynamic Difficulty (DynDiff) algorithm on top of scrypt. 1 minute block targets base difficulty reset: every 1440 blocks subsidy halves in 2.1m blocks (~ 2 to 4 years) 84,000,000,000 total maximum NENG 20000 NENG per block Pre-mine: 1% - reserved for dev fund ICO: None RPCPort: 6376 Port: 6377 NewEnglandcoin has dogecoin like supply at 84 billion maximum NENG. This huge supply insures that NENG is suitable for retail transactions and daily use. The inflation schedule of NengEnglandcoin is actually identical to that of Litecoin. Bitcoin and Litecoin are already proven to be great long term store of value. The Litecoin-like NENG inflation schedule will make NewEnglandcoin ideal for long term investment appreciation as the supply is limited and capped at a fixed number Bitcoin Fork - Suitable for Home Hobbyists NewEnglandcoin core wallet continues to maintain version tag of "Satoshi v0.8.7.5" because NewEnglandcoin is very much an exact clone of bitcoin plus some mining feature changes with DynDiff algorithm. NewEnglandcoin is very suitable as lite version of bitcoin for educational purpose on desktop mining, full node running and bitcoin programming using bitcoin-json APIs. The NewEnglandcoin (NENG) mining algorithm original upgrade ideas were mainly designed for decentralization of mining rigs on scrypt, which is same algo as litecoin/dogecoin. The way it is going now is that NENG is very suitable for bitcoin/litecoin/dogecoin hobbyists who can not , will not spend huge money to run noisy ASIC/GPU mining equipments, but still want to mine NENG at home with quiet simple CPU/GPU or with a cheap ASIC like FutureBit Moonlander 2 USB or Apollo pod on solo mining setup to obtain very decent profitable results. NENG allows bitcoin litecoin hobbyists to experience full node running, solo mining, CPU/GPU/ASIC for a fun experience at home at cheap cost without breaking bank on equipment or electricity. MIT Free Course - 23 lectures about Bitcoin, Blockchain and Finance (Fall,2018) https://www.youtube.com/playlist?list=PLUl4u3cNGP63UUkfL0onkxF6MYgVa04Fn CPU Minable Coin Because of dynamic difficulty algorithm on top of scrypt, NewEnglandcoin is CPU Minable. Users can easily set up full node for mining at Home PC or Mac using our dedicated cheetah software. Research on the first forked 50 blocks on v1.2.0 core confirmed that ASIC/GPU miners mined 66% of 50 blocks, CPU miners mined the remaining 34%. NENG v1.4.0 release enabled CPU mining inside android phones. Youtube Video Tutorial How to CPU Mine NewEnglandcoin (NENG) in Windows 10 Part 1 https://www.youtube.com/watch?v=sdOoPvAjzlE How to CPU Mine NewEnglandcoin (NENG) in Windows 10 Part 2 https://www.youtube.com/watch?v=nHnRJvJRzZg How to CPU Mine NewEnglandcoin (NENG) in macOS https://www.youtube.com/watch?v=Zj7NLMeNSOQ Decentralization and Community Driven NewEnglandcoin is a decentralized coin just like bitcoin. There is no boss on NewEnglandcoin. Nobody nor the dev owns NENG. We know a coin is worth nothing if there is no backing from community. Therefore, we as dev do not intend to make decision on this coin solely by ourselves. It is our expectation that NewEnglandcoin community will make majority of decisions on direction of this coin from now on. We as dev merely view our-self as coin creater and technical support of this coin while providing NENG a permanent home at ShorelineCrypto Exchange. Twitter Airdrop Follow NENG twitter and receive 100,000 NENG on Twitter Airdrop to up to 1000 winners Graphic Redesign Bounty Top one award: 90.9 million NENG Top 10 Winners: 500,000 NENG / person Event Timing: March 25, 2019 - Present Event Address: NewEnglandcoin DISCORD at: https://discord.gg/UPeBwgs Please complete above Twitter Bounty requirement first. Then follow Below Steps to qualify for the Bounty: (1) Required: submit your own designed NENG logo picture in gif, png jpg or any other common graphic file format into DISCORD "bounty-submission" board (2) Optional: submit a second graphic for logo or any other marketing purposes into "bounty-submission" board. (3) Complete below form. Please limit your submission to no more than two total. Delete any wrongly submitted or undesired graphics in the board. Contact DISCORD u/honglu69#5911 or u/krypton#6139 if you have any issues. Twitter Airdrop/Graphic Redesign bounty sign up: https://goo.gl/forms/L0vcwmVi8c76cR7m1 Milestones
Sep 3, 2018 - Genesis block was mined, NewEnglandcoin created
Sep 8, 2018 - github source uploaded, Window wallet development work started
Sep 11,2018 - Window Qt Graphic wallet completed
Sep 12,2018 - NewEnglandcoin Launched in both Bitcointalk forum and Marinecoin forum
Sep 14,2018 - NewEnglandcoin is listed at ShorelineCrypto Exchange
Sep 17,2018 - Block Explorer is up
Nov 23,2018 - New Source/Wallet Release v1.1.1 - Enabled Dynamic Addjustment on Mining Hashing Difficulty
Nov 28,2018 - NewEnglandcoin became CPU minable coin
Nov 30,2018 - First Retail Real Life usage for NewEnglandcoin Announced
Dec 28,2018 - Cheetah_Cpuminer under Linux is released
Dec 31,2018 - NENG Technical Whitepaper is released
Jan 2,2019 - Cheetah_Cpuminer under Windows is released
Jan 12,2019 - NENG v1.1.2 is released to support MacOS GUI CLI Wallet
Jan 13,2019 - Cheetah_CpuMiner under Mac is released
Feb 11,2019 - NewEnglandcoin v1.2.0 Released, Anti-51% Attack, Anti-instant Mining after Hard Fork
Mar 16,2019 - NewEnglandcoin v22.214.171.124 Released - Ubuntu 18.04 Wallet Binary Files
Apr 7, 2019 - NENG Report on Security, Decentralization, Valuation
Apr 21, 2019 - NENG Fiat Project is Launched by ShorelineCrypto
Sep 1, 2019 - Shoreline Tradingbot project is Launched by ShorelineCrypto
Dec 19, 2019 - Shoreline Tradingbot v1.0 is Released by ShorelineCrypto
Jan 30, 2020 - Scrypt RandomSpike - NENG v1.3.0 Hardfork Proposed
Feb 24, 2020 - Scrypt RandomSpike - NENG core v1.3.0 Released
Jun 19, 2020 - Linux scripts for Futurebit Moonlander2 USB ASIC on solo mining Released
Jul 15, 2020 - NENG v1.4.0 Released for Android Mining and Ubuntu 20.04 support
Jul 21, 2020 - NENG v126.96.36.199 Released for MacOS Wallet Upgrade with Catalina
Jul 30, 2020 - NENG v188.8.131.52 Released for Linux Wallet Upgrade with 8 Distros
Aug 11, 2020 - NENG v184.108.40.206 Released for Android arm64 Upgrade, Chromebook Support
Aug 30, 2020 - NENG v220.127.116.11 Released for Android/Chromebook with armhf, better hardware support
2018 Q3 - Birth of NewEnglandcoin, window/linux wallet - Done
2018 Q4 - Decentralization Phase I
Blockchain Upgrade - Dynamic hashing algorithm I - Done
Cheetah Version I- CPU Mining Automation Tool on Linux - Done
2019 Q1 - Decentralization Phase II
Cheetah Version II- CPU Mining Automation Tool on Window/Linux - Done
Blockchain Upgrade Dynamic hashing algorithm II - Done
2019 Q2 - Fiat Phase I
Assessment of Risk of 51% Attack on NENG - done
Launch of Fiat USD/NENG offering for U.S. residents - done
Initiation of Mobile Miner Project - Done
2019 Q3 - Shoreline Tradingbot, Mobile Project
Evaluation and planning of Mobile Miner Project - on Hold
Initiation of Trading Bot Project - Done
2019 Q4 - Shoreline Tradingbot
Shoreline tradingbot Release v1.0 - Done
2020 Q1 - Evaluate NENG core, Mobile Wallet Phase I
NENG core Decentralization Security Evaluation for v1.3.x - Done
Light Mobile Wallet Project Initiation, Evaluation
2020 Q2 - NENG Core, Mobile Wallet Phase II
NENG core Decentralization Security Hardfork on v1.3.x - Scrypt RandomSpike
Light Mobile Wallet Project Design, Coding
2020 Q3 - NENG core, NENG Mobile Wallet Phase II
Review on results of v1.3.x, NENG core Dev Decision on v1.4.x, Hardfork If needed
Light Mobile Wallet Project testing, alpha Release
2020 Q4 - Mobile Wallet Phase III
Light Mobile Wallet Project Beta Release
Light Mobile Wallet Server Deployment Evaluation and Decision
Mining is one of the key concepts in the crypto world. Everyone who comes into contact with this sphere somehow wonders about the mining of coins. How profitable is mining in 2020, and what are the current trends? by StealthEX Crypto mining is a process during which a computer solves mathematical problems, resulting in the release of new blocks of information. This gives its owners a certain amount of coins, which is deposited in the total pot and registered in the public “ledger”, so-called blockchain. Machines in the network are also checking transactions with existing coins, adding this information to the blockchain as well. As for the issue itself, the most well-known algorithm of mining is Proof-of-Work (PoW), used in the networks of Bitcoin, Litecoin, Ethereum and many others. During the mining process, the latest transactions are verified and compiled into blocks. It is usually a series of calculations with an iteration of parameters to find a hash with the specified properties. The node which first solves this problem receives a reward. This approach was specifically designed to encourage those who provide the computing power of their mining machines to maintain the network and mine new coins. It is usually no need for a newcomer to know and understand all the complicated details of the mining process, just how much they can earn with certain equipment and electricity costs. Everything is designed in such a way that the complexity of calculations is steadily increasing, which then requires a constant increase in the computing power of the network. In 2009-2010, for mining bitcoin, miners only had to download and run the software on their personal computers, but very soon the network became so complicated that even with best PCs with a powerful processor, mining became unprofitable. That’s why miners started to use more effective video cards (graphics processing units or GPUs) and join them in so-called “farms”. In most systems, the number of coins is determined in advance. Also, many networks are gradually reducing rewards for miners. Such emission restrictions were built into the algorithm to prevent inflation. Thus, the cost of mining for smaller participants no longer pays off, which makes them turn off their hardware or switch to another coin where they can still make their profit. In particular, on the evening of May 11, 2020, a halving took place in the bitcoin network, the reward for mining was halved, from 12.5 to 6.25 BTC. In June, the revenue of bitcoin miners decreased by 23%, to the lowest since March 2019. However, in mid-June, the difficulty of bitcoin mining showed a record growth over the past 2.5 years. Mining the first cryptocurrency has become 15% more difficult. Although, by the beginning of July, the complexity had stabilized. The growing difficulty of mining the first cryptocurrency indicates that new miners have joined its network. Previously, some of them turned off the equipment, as it became less profitable to mine the coin due to a decrease in its cost and halving. Now the absolute majority of new coins are generated by industrial mining. This is done by large data centers equipped with specialized computers based on the ASIC architecture. ASICs are integrated circuits that were initially optimized for a specific task, namely the mining of cryptocurrencies. They are much more productive than CPUs and video cards, and at the same time consume much less electricity. ASIC computers are the main type of equipment for the industrial production of crypto. So now, after the halving, BTC coin mining has become even less profitable. For beginners, mining the first cryptocurrency is unlikely to be suitable. It is more often earned by large companies that have all the necessary equipment, access to cheap rental conditions, electricity and maintenance. Hence newbies are better off starting with mining altcoins. It is even more profitable to work in a pool, that is, together with other miners. This can help to place farms in one place and negotiate a favourable price for electricity, so you can get a small but stable income dux to the total capacity of the pool. Therefore, it has become much more difficult for regular users who have only non-specialized equipment at their disposal to generate virtual money. However, GPU developers have significantly increased the performance of their devices in recent years, so mining on a video card is still common. Another important event that changes the situation in the mining sphere will be the hardfork of the Ethereum network with the turn to the Proof-of-Stake algorithm. For now, Ethereum is the most popular altcoin for GPU mining, but Ethereum 2.0 will not require using such powerful equipment, so then it switches to PoS, GPU owners will have to look for alternative coins to mine. At the moment the most popular altcoins for mining on GPUs are Ethereum (ETH), Ethereum Classic (ETC), Grin (GRIN), Zcoin (XZC), Dogecoin and Ravencoin (RVN). There are actually a lot of mining programs that automatically determine which coin is more profitable to mine at the moment. In the coming years, the market is waiting for a race of technologies. Manufacturers are investing in finding ways to increase hashing speed and reduce power consumption. Mining pools will play an increasing role. The market will also be affected by applications for mining cryptocurrencies on smartphones that require low computing power, such as Dash or Litecoin. And remember StealthEX supports more than 250 coins and constantly updating the list, so you can easily swap your crypto haul to more popular altcoins. Our service does not require registration and allows you to remain anonymous. Why don’t you check it out? Just go to StealthEX and follow these easy steps: ✔ Choose the pair and the amount for your exchange. For example ETH to BTC. ✔ Press the “Start exchange” button. ✔ Provide the recipient address to which the coins will be transferred. ✔ Move your cryptocurrency for the exchange. ✔ Receive your coins. Follow us on Medium, Twitter, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [email protected]. The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision. Original article was posted onhttps://stealthex.io/blog/2020/07/28/mining-today/
Bitcoin vs. Altcoins: Which rocket will fire first?
As always, we present the latest findings and insights in the crypto world every 14 days. About 8 weeks ago, we wrote in our report for the first time in a long time that we assume that the altcoins will make another strong comeback. From today's perspective, we have hit the bull's eye. The current situation on the market is interesting: It seems that we are in a panic phase in which everyone is looking for the next big Altcoin pump. Good examples of this are the sometimes irrational rise in Dogecoin's price or the multitude of extremely bullish tweets about some DeFi tokens on Twitter. In this report we look at the "boring" Bitcoin course and the altcoins. On the one hand, we ask ourselves how BTC is as digital gold given the fact that gold is on the way to an absolute all-time high. On the other hand, we want to see if there is any further upside potential for the alts.
The Altcoin casino is in full swing
Two weeks ago we looked at the Bitcoin dominance chart. We were able to identify an upward channel. A look at the chart below shows that this channel has clearly been broken down. The Altcoin casino is in full swing and shows how much interest (and longing for big profits) is among many investors. Let’s finish dominance and take a look at the NASDAQ DeFi Index. Since September 2019, NASDAQ has listed a DeFi index that tracks MakerDao, Augur, Gnosis, Numerai and 0x. Admittedly, the currently large projects such as COMP, Lend, KNC and SNX are missing. Here too we can see that the DeFi market (according to the index) has been in the consolidation phase for a few days. However, if we look at other projects like the ones just mentioned (COMP, LEND, etc.) or Dogecoin, we can see that there is still positive momentum in the Altcoin market. It is important to understand that you should not be tempted by FOMO. The entire DeFi market is in a young phase, growth has been high in the last few weeks, and investors should, therefore, expect consolidation before any further growth phase begins.
Bitcoin and altcoins: an overview of on-chain metrics
In contrast to chart analysis, on-chain metrics help us to understand more complex relationships and to identify long-term or sustainable trends. In this case, we are now looking at a chart that shows us when Bitcoin was last moved: We can see that the last time that so many BTC were not moved was in January 2016. This time marked the end of a bear market. Let us be surprised by how the current journey will continue from here.
Ethereum Net Flow: What about the ETH offering on exchanges?
In addition to Bitcoin, we also want to look at Ethereum. We start with a well-known graphic: the netflows from Exchanges. Here we can see over the period from mid-March that more Ethereum (ETH) flowed from exchanges than to the stock exchanges themselves. The peak was June, in which around 800,000 ETH more flowed from exchanges than went to them. Long story short: We see a shortening of the offer on the stock exchange, which is logically bullish for Ethereum. In summary, we can say that the entire crypto market is currently in good condition. Bitcoin is stable at over $ 9,000 and some altcoins have been picking up speed over the past few weeks. At the same time, BTC dominance decreases, which gives the altcoins further scope. The on-chain metrics fit into this sentiment and make us bullish.
Well, it’s supposed to be an optimistic article about most promising mining cryptos, but then something happened. No one was too naive to believe that the events unfolded around the COVID-19 pandemic will not affect global markets, but the turbulence that occurred was very significant and, what is most sad, it is still very difficult to say how soon the situation will stabilize. https://preview.redd.it/9xxheofluzp41.png?width=1024&format=png&auto=webp&s=cd8ca033faddf57ea041e82ceadee1037b8587f1 Many people were already bothered that crypto mining is becoming less profitable in 2020 and will be meaningless very soon, but even though big companies having bigger resources took over most of the industry, cryptocurrency mining using video cards remains available to common users and still has potential. Despite, the volatility of the cryptocurrency market hashrate of the Bitcoin blockchain network yet remains almost at the same level and that is a quite positive sign. At the moment, the most reliable option seems to be to leave mining to large ASIC-farms and return when the stock panic subsides and the prospects will be clearer. Although Bitcoin is still the most popular cryptocurrency on the market, every year the complexity of operations necessary for its production increases, and rewards fall (after halving in May 2020, we will talk about 6.25 BTC per block). For mining many altcoins, the threshold for entry is much lower, therefore it makes sense to look for a more profitable option among them. But first, let’s try to understand a little what conditions we need for profitable mining. There are several crucial aspects that determine how profitable mining will be. These are such obvious things as the price of the currency or the amount of reward for the generated block. And this is the reason it is now very difficult to calculate the possible income. One way or another, the market price of altcoins depends on the position of bitcoin, which is experiencing bad times. For several months, the world of crypto mining has been preparing for the May halving, because the reduced supply led to a significant increase in prices. This time should not have been an exception, but now when bitcoin does not rise above $5500 and risks falling below $3500, we can only make vague guesses about its potential price in May. Many analysts tend to believe that closer to the middle of April, the negative effect of the crisis should be reduced, and positive expectations from halving and a large amount of cash from investors should have a positive impact on the price of bitcoin. Altcoins, as a rule, repeat the dynamics of the first cryptocurrency and will also continue their growth to historical highs in the year’s future. Next, you should also pay attention to the complexity of mining because it affects the time and energy spent on generating the block. Do not forget about the cost of electricity in your region, as one extra-large bill can negate all your efforts to earn money on currency mining. Do not forget about expenses on a mining rig and it’s amortisation. In addition to the above, you should find out how practical the chosen currency is: whether it can be exchanged for fiat or more popular coins, what fees are charged by exchanges that work with it, and what reputation it has in general. In order to avoid unpleasant mistakes, it is easier and more reliable to check the possible profit in one of the many calculators.
Best altcoins to mine in 2020
Monero is the currency with the highest anonymity rates, which stays attractive to many users and remains one of the strongest altcoins. The specific proof-of-work hashing algorithm does not allow ASIC-miners, so it is relatively easy to mine using personal computer’s processors and graphics cards. AMD graphic cards are preferable for this task, but NVidia suits as well. The current block reward is 2.47 XMR. Litecoin is one of the oldest Bitcoin forks, but unlike it uses a different “Script” PoW algorithm which allows less powerful GPUs to mine coins. Litecoin is on the most popular, and successful Bitcoin forks and considered one of the most stable cryptocurrencies. Block mining reward is 12.5 LTC. Ravencoin is another Bitcoin hardfork, and like Monero’s its X16R algorithm is practically unavailable for ASIC machines. Raven keeps gaining popularity for many reasons – it has faster block time, higher mining reward (5,000 RVN at the moment) and secure messaging system. Dogecoin is not a joke anymore. Hard to believe, but this currency once made for fun, became one of the most valuable ones. Like Litecoin it uses Scrypt algorithm and great for mining with GPUs. One more Bitcoin fork Bitcoin Gold was made specifically to kick out ASICs and clear the road for GPUs. It may not be the fastest-growing currency, but it is definitely one of the most stable. That’s all for today. Stay safe, cause health is our most important asset. Follow us onMedium,Twitter,Facebook, andRedditto getStealthEX.ioupdates and the latest news about the crypto world. For all requests message us via [[email protected]](mailto:[email protected])
I am the winner of Millionaire Makers Drawing #22, AMA!
This is absolutely crazy.. Thank you all so much. I am so incredibly grateful to all you lovelies for this. Late last night my phone started exploding so I got up and checked reddit and when I realized what happened I felt like my heart was going to pop out of my chest. It's an incredible feeling and I hope the community continues to support this project so more people can experience this. A little about me: My name is Nick, I'm 19, and I live in Pennsylvania. I want to go to school for graphic design but haven't yet because I wanted to be sure graphic design is what I want to do, and because I didn't want to be in debt. So a large portion of this money will most decidedly be used to help me attend college. The rest of the money will no doubt be spent on only the finest of pizza pies. Again thank you all so much for this, please continue to participate in this contest and continue to donate to make some very lucky person's life better. I will try to answer as many questions as possible if there are any! Edit: Hey everyone! Thank you so much for all the donations, I'm trying respond to everyone and answer all the questions. But to most of you I just want to say thank you for your donation, you're awesome. I just broke $500 a few minutes ago which is crazy. I'll try to keep this updated incrementally. Thank you again! Update: Hi again! Just broke $750 from what I can tell. Again thank you all so much for your donations, much love. Papa Bless. Edit 2: Thanky thanky for the gold stranger :) Update 2: And there it is! If I counted everything correctly I just broke $1000!! Thank you all so much, this is incredible! Update 3: Good morning, and wow. I think the donations have exceeded $1750 at this point and I couldn't be more grateful. I know I've said it a thousand times, but thank you all so much, this is absolutely tops. Update 4:$2000. You all are absolutely amazing, and to all of those who donated more than a dollar, you are incredibly generous and you have my most sincere of thanks. I love you all. This part is written by the mods: All of the amounts below should result in nickfoose receiving about $1 USD Methods of payment: Tipbots
How it will work: I will use Random.org to generate a truly random number between 8 and 88888888. Whoever guesses closest to the generated number will receive 1,000 DOGE through sodogetip at 8:08 PM PST, Saturday, January 27th, which is also when the giveaway will end. Each user is allowed one entry. Directions: Choose a number between 8 and 88888888, and write it in the comments below. While you’re at it, tell me what you think of my Year of the Doge video!
Stuff you might want to read:
Intro: I’m an old shibe who’s been around since the early days (on other accounts) and have the memorabilia to prove it (thanks to Shibe Mint). The Year of the Doge contest reminds me of the Hype Video competition, but with more participants, and the submitted videos have far surpassed my expectations. Everyone did an amazing job, and I’m so proud of all of you!
The Mission: This is a prime opportunity to bring more attention to Dogecoin, and everyone has to play their part. Every video submitted has a unique selling point - the graphics, voiceover, emotions, silliness, display of charity, informational value, or good-ol-fashioned doge spirit, and it’s up to all of us to market the SH**A out of that. Email your local newspapers, write about why doge is the best coin, and tweet your video to every celebrity (don’t forget Tommy Wiseau is a Bitcoiner!). Explain doge’s best selling points, from your point of view, and why everyone should hodl some. After you’ve done that, share it on social media, tell your friends, or give out paper wallets, but please don’t make promises about doge reaching a certain value in USD or making anyone rich; that’s not what doge is about!
Unnecessary Commentary: I’m afraid this sub is losing touch with what makes dogecoin so great - being the antidote to the rest of crypto. Instead of a caustic slew of price discussions and FUD about the market crashing, we’re the meme loving shibes who sponsor racecars and Jamaican bobsled teams. As our subshibers grow and doge moons, we should focus on sponsoring more projects and bringing more happiness to the world. Yes, doge has fast and cheap transactions, but other cryptos do too, and some have more “professional” viability due to their marketing (Dash, Raiblocks, etc.). The real value of doge lies in our community - and more importantly, our community projects, which we need more of… …which brings me to this video (yes, ik, a very bad self-plug, pls forgive) : https://www.youtube.com/watch?v=NuTzXSH9aRg. This piece of work was shot on a fake GoPro that cost me $20, and edited with openshot on debian, so I didn’t think I’d end up with much. Fortunately, what I managed to squeeze out was better than expected, and I hope that after watching it, you’re inspired to go help the homeless yourself. The best tip I have is to see them as real people, with lives just as complex and interesting as yours. If you respect them, they’ll respect you, and most are happy to have someone to talk to. If you love your room as much as Brian Wilson, and don’t like to leave it, you could also help me pay back the socks, as $52 isn’t a drop in the bucket for a poor college shibe like me (address below). And, if you’d rather not send your magic internet money to some internet stranger, you could donate to some of the charities I’ve picked out below.
I’ve been in and out of vert for the past few months, but I started mining vert again yesterday for a few reasons. 1.) I had some time to think and I really questioned to myself what really gives an item in the world value. I can have the rarest baseball card in the world but it’s not worth anything unless there is a buyer. This got me thinking about how important community is. Vertcoin is 30,000 strong on reddit, which isnt bitcoin level but there are a ton of cryptos with less than 1,000 subscribers. If there is no one talking about it in public, why would I want to invest my money into it outside of the small chance of a moonshot? And enough with the “join our slack that’s where the action is” crap. 2.) I routinely see developers on reddit answering concerns and talking to the people. (Etang comes to mind). But that’s not all. There are members of the community creating legit exchanges for vertcoin! This really sold me when I read it. Community involvement with creating something as small as a bottle opener to creating something as large as an exchange will create more infrastructure which will help vertcoin persevere through the hard times. I know you all read everyday the hype surrounding the next coin on coinbase. “To the moon for Monero, Zcash, etc. as soon as they get listed!” There is truth to this statement, because in all honesty most Mom and pops have no interest in sending litecoin to bittrex to trade for their favorite altcoin. Direct on ramp from fiat to crypto is a huge bottleneck for crypto success at the moment and that’s exactly what vertbase is doing. It’s such a bullish sign that no one has heard about yet. I honestly haven’t read any other crypto that has on ramp fiat to crypto in their roadmap. 3.) Mining is easy. I know pow has its issues, but for mainstream adoption the fact that most can get coins from their pc and get in the crypto game with no money involvement is fun and exciting. Say what you want, but I got started in crypto because it’s fun and I can make money with my pc. Simple as that. I think this gives POW a nice advantage over pos systems for entry level enthusiasts. 4.) I cant stress community enough. Sure vertcoin isn’t as fast as raiblocks... yet. Technology can advance but community has to support it. If the community dies the developers will have no incentive to continue. Think of world of Warcraft or league of legends. The games are ancient in comparison to the newest games with 4K graphics but they stick around because their communities are so huge. I honestly think this is why dogecoin has so much success. Laugh at the memes all you want, but community drives adoption and it wouldn’t surprise me to see dogecoin survive the long haul. I’m not really sure why I decided to write this post (it’s my longest post ever on reddit) but the moral of the story is community to me is the biggest influencer on the longevity of any crypto over current tech. Parting thoughts: The first iPhone didn’t have 4K video and damn sure wasn’t waterproof. Tech can advance.
What are cryptocurrencies? Cryptocurrencies are peer to peer technology protocols which rely on the block-chain; a system of decentralized record keeping which allows people to exchange unmodifiable and indestructible information “coins,” globally in little to no time with little to no fees – this translates into the exchange of value as these coins cannot be counterfeit nor stolen. This concept was started by Satoshi Nakamoto (allegedly a pseudonym for a single man or organization) whom described and coded Bitcoin in 2009. What is DigiByte? DigiByte (DGB) is a cryptocurrency like Bitcoin. It is also a decentralized applications protocol in a similar fashion to Neo or Ethereum. DigiByte was founded and created by Jared Tate in 2014. DigiByte allows for fast (virtually instant) and low cost (virtually free) transactions. DigiByte is hard capped at 21 billion coins which will ever be mined, over a period of 21 years. DigiByte was never an ICO and was mined/created in the same way that Bitcoin or Litecoin initially were. DigiByte is the fastest UTXO PoW scalable block-chain in the world. We’ll cover what this really means down below. DigiByte has put forth and applied solutions to many of the problems that have plagued Bitcoin and cryptocurrencies in general – those being:
Maintaining low fees.
Maintaining fast transaction times.
Maintaining robust security + the immutable ledger.
And most importantly assuring massive scalability on chain.
We will address these point by point in the subsequent sections. The DigiByte Protocol DigiByte maintains these properties through use of various technological innovations which we will briefly address below. Why so many coins? 21 Billion When initially conceived Bitcoin was the first of a kind! And came into the hands of a few! The beginnings of a coin such as Bitcoin were difficult, it had to go through a lot of initial growth pains which following coins did not have to face. It is for this reason among others why I believe Bitcoin was capped at 21 million; and why today it has thus secured a place as digital gold. When Bitcoin was first invented no one knew anything about cryptocurrencies, for the inventor to get them out to the public he would have to give them away. This is how the first Bitcoins were probably passed on, for free! But then as interest grew so did the community. For them to be able to build something and create something which could go on to have actual value, it would have to go through a steady growth phase. Therefore, the control of inflation through mining was extremely important. Also, why the cap for Bitcoin was probably set so low - to allow these coins to amass value without being destroyed by inflation (from mining) in the same way fiat is today! In my mind Satoshi Nakamoto knew what he was doing when setting it at 21 million BTC and must have known and even anticipated others would take his design and build on top of it. At DigiByte, we are that better design and capped at 21 billion. That's 1000 times larger than the supply of Bitcoin. Why though? Why is the cap on DigiByte so much higher than that of Bitcoin? Because DigiByte was conceived to be used not as a digital gold, nor as any sort of commodity, but as a real currency! Today on planet Earth, we are approximately 7.6 billion people. If each person should want or need to use and live off Bitcoin; then equally split at best each person could only own 0.00276315789 BTC. The market cap for all the money on the whole planet today is estimated to have recently passed 80 trillion dollars. That means that each whole unit of Bitcoin would be worth approximately $3,809,523.81! $3,809,523.81 This is of course in an extreme case where everyone used Bitcoin for everything. But even in a more conservative scenario the fact remains that with such a low supply each unit of a Bitcoin would become absurdly expensive if not inaccessible to most. Imagine trying to buy anything under a dollar! Not only would using Bitcoin as an everyday currency be a logistical nightmare but it would be nigh impossible. For each Satoshi of a Bitcoin would be worth much, much, more than what is realistically manageable. This is where DigiByte comes in and where it shines. DigiByte aims to be used world-wide as an international currency! Not to be hoarded in the same way Bitcoin is. If we were to do some of the same calculations with DigiByte we'd find that the numbers are a lot more reasonable. At 7.6 billion people, each person could own 2.76315789474 DGB. Each whole unit of DGB would be worth approximately $3,809.52. $3,809.52 This is much more manageable and remember in an extreme case where everyone used DigiByte for everything! I don't expect this to happen anytime soon, but with the supply of DigiByte it would allow us to live and transact in a much more realistic and fluid fashion. Without having to divide large numbers on our phone's calculator to understand how much we owe for that cup of coffee! With DigiByte it's simple, coffee cost 1.5 DGB, the cinema 2.8 DGB, a plane ticket 500 DGB! There is a reason for DigiByte's large supply, and it is a good one! Decentralisation Decentralisation is an important concept for the block-chain and cryptocurrencies in general. This allows for a system which cannot be controlled nor manipulated no matter how large the organization in play or their intentions. DigiByte’s chain remains out of the reach of even the most powerful government. This allows for people to transact freely and openly without fear of censorship. Decentralisation on the DigiByte block-chain is assured by having an accessible and fair mining protocol in place – this is the multi-algorithm (MultiAlgo) approach. We believe that all should have access to DigiByte whether through purchase or by mining. Therefore, DigiByte is minable not only on dedicated mining hardware such as Antminers, but also through use of conventional graphics cards. The multi-algorithm approach allows for users to mine on a variety of hardware types through use of one of the 5 mining algorithms supported by DigiByte. Those being:
Please note that these mining algorithms are modified and updated from time to time to assure complete decentralisation and thus ultimate security. The problem with using only one mining algorithm such as Bitcoin or Litecoin do is that this allows for people to continually amass mining hardware and hash power. The more hash power one has, the more one can collect more. This leads to a cycle of centralisation and the creation of mining centres. It is known that a massive portion of all hash power in Bitcoin comes from China. This kind of centralisation is a natural tendency as it is cheaper for large organisations to set up in countries with inexpensive electricity and other such advantages which may be unavailable to the average miner. DigiByte mitigates this problem with the use of multiple algorithms. It allows for miners with many different kinds of hardware to mine the same coin on an even playing field. Mining difficulty is set relative to the mining algorithm used. This allows for those with dedicated mining rigs to mine alongside those with more modest machines – and all secure the DigiByte chain while maintaining decentralisation. Low Fees Low fees are maintained in DigiByte thanks to the MultiAlgo approach working in conjunction with MultiShield (originally known as DigiShield). MultiShield calls for block difficulty readjustment between every single block on the chain; currently blocks last 15 seconds. This continuous difficulty readjustment allows us to combat any bad actors which may wish to manipulate the DigiByte chain. Manipulation may be done by a large pool or a single entity with a great amount of hash power mining blocks on the chain; thus, increasing the difficulty of the chain. In some coins such as Bitcoin or Litecoin difficulty is readjusted every 2016 blocks at approximately 10mins each and 2mins respectively. Meaning that Bitcoin’s difficulty is readjusted about every two weeks. This system can allow for large bad actors to mine a coin and then abandon it, leaving it with a difficulty level far too high for the present hash rate – and so transactions can be frozen, and the chain stopped until there is a difficulty readjustment and or enough hash power to mine the chain. In such a case users may be faced with a choice - pay exorbitant fees or have their transactions frozen. In an extreme case the whole chain could be frozen completely for extended periods of time. DigiByte does not face this problem as its difficulty is readjusted per block every 15 seconds. This innovation was a technological breakthrough and was adopted by several other coins in the cryptocurrency environment such as Dogecoin, Z-Cash, Ubiq, Monacoin, and Bitcoin Gold. This difficulty readjustment along with the MultiAlgo approach allows DigiByte to maintain the lowest fees of any UTXO – PoW – chain in the world. Currently fees on the DigiByte block-chain are at about 0.0001 DGB per transaction of 100 000 DGB sent. This depends on the amount sent and currently 100 000 DGB are worth around $2000.00 with the fee being less than 0.000002 cents. It would take 500 000 transactions of 100 000 DGB to equal 1 penny’s worth. This was tested on a Ledger Nano S set to the low fees setting. Fast transaction times Fast transactions are ensured by the conjunctive use of the two aforementioned technology protocols. The use of MultiShield and MultiAlgo allows the mining of the DigiByte chain to always be profitable and thus there is always someone mining your transactions. MultiAlgo allows there to a greater amount of hash power spread world-wide, this along with 15 second block times allows for transactions to be near instantaneous. This speed is also ensured by the use DigiSpeed. DigiSpeed is the protocol by which the DigiByte chain will decrease block timing gradually. Initially DigiByte started with 30 second block times in 2014; which today are set at 15 seconds. This decrease will allow for ever faster and ever more transactions per block. Robust security + The Immutable Ledger At the core of cryptocurrency security is decentralisation. As stated before decentralisation is ensured on the DigiByte block chain by use of the MultiAlgo approach. Each algorithm in the MultiAlgo approach of DigiByte is only allowed about 20% of all new blocks. This in conjunction with MultiShield allows for DigiByte to be the most secure, most reliable, and fastest UTXO block chain on the planet. This means that DigiByte is a proof of work (PoW) block-chain where all transactional activities are stored on the immutable public ledger world-wide. In DigiByte there is no need for the Lightning protocol (although we have it) nor sidechains to scale, and thus we get to keep PoW’s security. There are many great debates as to the robustness or cleanliness of PoW. The fact remains that PoW block-chains remain the only systems in human history which have never been hacked and thus their security is maximal. For an attacker to divert the DigiByte chain they would need to control over 93% of all the hashrate on one algorithm and 51% of the other four. And so DigiByte is immune to the infamous 51% attack to which Bitcoin and Litecoin are vulnerable. Moreover, the DigiByte block-chain is currently spread over 200 000 plus servers, computers, phones, and other machines world-wide. The fact is that DigiByte is one of the easiest to mine coins there is – this is greatly aided by the recent release of the one click miner. This allows for ever greater decentralisation which in turn assures that there is no single point of failure and the chain is thus virtually un-attackable. On Chain Scalability The biggest barrier for block-chains today is scalability. Visa the credit card company can handle around 2000 transactions per second (TPS) today. This allows them to ensure customer security and transactional rates nation-wide. Bitcoin currently sits at around 7 TPS and Litecoin at 28 TPS (56 TPS with SegWit). All the technological innovations I’ve mentioned above come together to allow for DigiByte to be the fastest PoW block-chain in the world and the most scalable. DigiByte is scalable because of DigiSpeed, the protocol through which block times are decreased and block sizes are increased. It is known that a simple increase in block size can increase the TPS of any block-chain, such is the case with Bitcoin Cash. This is however not scalable. The reason a simple increase in block size is not scalable is because it would eventually lead to some if not a great amount of centralization. This centralization occurs because larger block sizes mean that storage costs and thus hardware cost for miners increases. This increase along with full blocks – meaning many transactions occurring on the chain – will inevitably bar out the average miner after difficulty increases and mining centres consolidate. Hardware cost, and storage costs decrease over time following Moore’s law and DigiByte adheres to it perfectly. DigiSpeed calls for the increase in block sizes and decrease in block timing every two years by a factor of two. This means that originally DigiByte’s block sizes were 1 MB at 30 seconds each at inception in 2014. In 2016 DigiByte increased block size by two and decreased block timing by the same factor. Perfectly following Moore’s law. Moore’s law dictates that in general hardware increases in power by a factor of two while halving in cost every year. This would allow for DigiByte to scale at a steady rate and for people to adopt new hardware at an equally steady rate and reasonable expense. Thus so, the average miner can continue to mine DigiByte on his algorithm of choice with entry level hardware. DigiByte was one of the first block chains to adopt segregated witness (SegWit in 2017) a protocol whereby a part of transactional data is removed and stored elsewhere to decrease transaction data weight and thus increase scalability and speed. This allows us to fit more transactions per block which does not increase in size! DigiByte currently sits at 560 TPS and could scale to over 280 000 TPS by 2035. This dwarfs any of the TPS capacities; even projected/possible capacities of some coins and even private companies. In essence DigiByte could scale worldwide today and still be reliable and robust. DigiByte could even handle the cumulative transactions of all the top 50 coins in coinmarketcap.com and still run smoothly and below capacity. In fact, to max out DigiByte’s actual maximum capacity (today at 560 TPS) you would have to take all these transactions and multiply them by a factor of 10! Oher Uses for DigiByte Note that DigiByte is not only to be used as a currency. Its immense robustness, security and scalability make it ideal for building decentralised applications (DAPPS) which it can host. DigiByte can in fact host DAPPS and even centralised versions which rely on the chain which are known as Digi-Apps. This application layer is also accompanied by a smart contract layer. Thus, DigiByte could host several Crypto Kitties games and more without freezing out or increasing transaction costs for the end user. Currently there are various DAPPS being built on the DigiByte block-chain, these are done independently of the DigiByte core team. These companies are simply using the DigiByte block-chain as a utility much in the same way one uses a road to get to work. One such example is Loly – a Tinderesque consensual dating application. DigiByte also hosts a variety of other platform projects such as the following:
DigiPay – A jqeury online payment protocol portal web plugin.
DigiByte DigiHash - The official DigiByte foundation mining pool.
DigiByte Digi-ID – A platform for identity verification to be used in lieu of two factor authentication and passwords.
DigiByte Emma AI – A DigiByte interactive artificial intelligence assistant.
DigiByte DigiMan – A web browser plugin to be used as a security layer two protocol.
DigiByte DigiSeeder – A background seeding service which assures all wallets quickly find other peers in the network.
DigiByte DigiMessenger – A ground-breaking messaging application built on top of DigiByte which features robust and virtually unbreakable encryption.
DigiByte OneClickMiner – An easy to set up application which allows users to quickly start mining DigiByte on their home machines.
DigiByte DigiBot – A telegram bot for users to interact with DigiByte and more.
The DigiByte Foundation As previously mentioned DigiByte was not an ICO. The DigiByte foundation was established in 2017 by founder Jared Tate. Its purpose is as a non-profit organization dedicated to supporting and developing the DigiByte block-chain. DigiByte is a community effort and a community coin, to be treated as a public resource as water or air. Know that anyone can work on DigiByte, anyone can create, and do as they wish. It is a permissionless system which encourages innovation and creation. If you have an idea and or would like to get help on your project do not hesitate to contact the DigiByte foundation either through the official website and or the telegram developer’s channel. For this reason, it is ever more important to note that the DigiByte foundation cannot exist without public support. And so, this is the reason I encourage all to donate to the foundation. All funds are used for the maintenance of DigiByte servers, marketing, and DigiByte development. DigiByte Resources and Websites DigiByte
OS X Wallet
Rasberry Pi Wallet
Ledger Hardware Wallet
Please refer to the sidebar of this sub-reddit for more resources and information. Edit - Removed Jaxx wallet. Edit - A new section was added to the article: Why so many coins? 21 Billion Edit - Adjusted max capacity of DGB's TPS - Note it's actually larger than I initially calculated. Edit – Grammar and format readjustment Hello, I hope you’ve enjoyed my article, I originally wrote this for the reddit sub-wiki where it generally will most likely, probably not, get a lot of attention. So instead I've decided to make this sort of an introductory post, an open letter, to any newcomers to DGB or for those whom are just curious. I tried to cover every aspect of DGB, but of course I may have forgotten something! Please leave a comment down below and tell me why you're in DGB? What convinced you? Me it's the decentralised PoW that really convinced me. Plus, just that transaction speed and virtually no fees! Made my mouth water! -Dereck de Mézquita I'm a student typing this stuff on my free time, help me pay my debts? Thank you! D64fAFQvJMhrBUNYpqUKQjqKrMLu76j24g https://digiexplorer.info/address/D64fAFQvJMhrBUNYpqUKQjqKrMLu76j24g
Bitcoin, dogecoin. How I tried to make my fortune in 2014 with the sweat of my computer.
https://preview.redd.it/mv21lvsa3do31.jpg?width=1280&format=pjpg&auto=webp&s=51bf5296a06eedc178079cf0b3ab4c3cfc44f271 Make money just by working on your computer: the rise of electronic currencies, in the wake of bitcoin, can be a little dream, especially in times of crisis. We tried the experiment. Wealth at your fingertips? Not for everybody. Reading time: 6 min. We have known at least since March 2013, with the soaring Bitcoin (BTC) price during the closing of Cypriot banks: electronic currencies, it has not much virtual. Since the creation of the enigmatic Satoshi Nakamoto serves as a safe haven, a playground for speculators, interests the States and even makes it possible to pay for his trip to the space where his beer, bigger world would dare to pretend that it only serves to buy prohibited substances on SilkRoad - if it ever was. At the end of November, James Howells was mocked a lot, this Brit, caught in a household frenzy, inadvertently threw a hard disk containing 7,500 bitcoins, the equivalent of 4.8 million euros. A small fortune now lost in the depths of the Docksway dump near Newport. Nevertheless, before causing the consternation of the global Internet, Jamie still had the nose to undermine the BTC at a time when the experience mobilized a handful of hardcore geeks. Since the rise (sawtooth) bitcoin, each unit currently weighs more than 800 dollars, nearly thirty cryptocurrencies have emerged. Is it possible, this year again, to let this promising, volatile and risky train pass, or to fall into
Choose your electronic motto.
All are based on the same principle: to summarize (very) big features , the issuance of money is governed by an algorithm, and the new corners put in circulation reward the resolution, by participants in a network of peer and mathematical problems, including the validation and archiving of transactions, which are public . Mining a cryptocurrency is like putting the computing power of your computer in the service of the network.
Since the program is decreasing , the mining becomes more and more difficult with time (and with the increase of the number of participants): to hope to make his pelote via the only computational activity, one must either have to at its disposal a large fleet of machines, to be a miner from the first hour. Exit the bitcoin, long since out of the reach of a personal computer.
I similarly gave up the litecoin and peercoin, already well launched (they date respectively 2011 and 2012), to set my heart on one of the most recent currencies - and certainly the hippest of the moment: the dogecoin.
As its name suggests, the cryptocurrency favorite Shiba Inus from around the world is a tribute to the Doge, one of the most famous memes of 2013, with its captions in Comic Sans, the font most sorry for the web. A geek joke, therefore, except that - the unfathomable mysteries of the Internet - its value jumped 900% in the third week of December, and she suffered a Christmas robbery online.
Admittedly, at the time when these lines are written, the dogecoin caps at 0.00023 dollars  - its quite ridiculous (and quite depressing), but even if you bet on the future, so much to go frankly.
2. The hands in the engine the billboard.
From there, things get tough (a little). Installing an electronic purse on ones computer is not very complicated (the software is available for Windows, MacOS, Android or, for the more adventurous, on a repository to compile under Linux). It is also possible to use an online wallet, but it is more risky (except, perhaps, when one is called James Howells). When opened for the first time, the purse automatically synchronizes with the Dogecoin network (be careful, it can be long), which gives you a payment address (we can generate more later).
The two most common ways to undermine electronic money are to use the computing power of the computers microprocessor (CPU) or, more efficiently, that of the graphics card processor (GPU). In the first case, the program is simple to install; in the second, it is necessary to choose the most adapted to its material . There are, thankfully, a lot of online tutorials. Still, to operate the corner board requires in all cases to trade the comfort of the GUI for aridity, so confusing to the layman, command lines - we have nothing for nothing.
Finally, at work alone, we prefer collaboration. Mining is best done in groups, or rather in pool: it distributes the gains, of course, but also the difficulty. For the dogecoin as for all the crypto-currencies, the pools are numerous. A quick tour of a dedicated section of the Reddit community site can help you make your choice.
3. Extension of the field of struggle.
And after? After, we can rest, since it is the machine that works. But the truth of a cryptocurrency - even at the exceptionally high LOL and LOL rates of the Shiba Inu - is cruel and brutal: not all computers are equal. Or rather, some are more equal than others. For while you heat your CPU or your graphics card to grapple some unfortunate corners, others will sweep the game thanks to specialized integrated circuits, computing capabilities much higher.
If the game of buying and reselling corners is basically just another stock exchange mechanism, less the intervention of the central banks - what is at stake, and the big political question they ask: are we certain to prefer speculation pure and perfect to monetary policies, however questionable they may be? -, production, it is the law of the strongest (in calculation). There are even lethal weapons at $ 10,000 each, with which your processors are like mosquitoes in front of an A bomb.
And if you think it does not matter because after all, it does not cost you anything, think again: the components, like humans, wear out faster when they work at full speed, and the bill of electricity can quickly grow. The profitability of the case is anything but certain, as evidenced by the results of online calculators. (Needless to say, our laughing dogecoin does not stand up to this kind of simulation.)
Much more boring, from a collective point of view: the carbon footprint, current and above all expected, of electronic currencies worries more and more. Last spring, Bloomberg estimated that the energy consumption of the Bitcoin network was equivalent to that of 31,000 US households. Not sure, according to the site, that their emission is less damaging to the environment than have been some physical currencies.
For exciting to analyze that is the emergence of cryptocurrencies, it is better to ask now about their cost, economic and ecological. To see it as a potential source of income, except for being a very early adopter with a hollow nose, an individual with a lot of computational capital or a clever trader, you have to make a point.
If the recurrent comparison with the famous Ponzi pyramid  is discussed (after all, the decentralized currencies do not make promises), remains that, as long as the value does not collapse, the system benefits mainly to the first entrants - except James Howells.
As the Bitcoin.fr site aptly states: all this is just an experiment, invest only the time and money you can afford to lose. LOLs love was not a worse reason than another to experiment, so I finally submitted my laptop to four days and three nights of intense activity, which makes me happy. owner of a good half a thousand dogecoins. Either the equivalent of 0.115 dollar, or 0.08 euro. It is obviously not worth the electricity consumed to generate them, it increases my carbon footprint, but it amuses my entourage. But laughter is, as everyone knows, a safe bet in times of crisis, less volatile than a real bitcoin.
And then, after all, you never know.
1. For explanations more provided (the case is quite complex), refer, for example, to the series of very detailed notes devoted to blogger Turblog.
2. And as such, searchable by everyone. It is the identity of the users that is not known, unless they reveal it, hence the reputation of anonymity (relative, therefore) cryptocurrencies.
3. In the case of bitcoin, the maximum of 21 million units should be reached around 2140.
4. For a day-to-day follow-up, see the CoinMarketCap site which lists the exchange rates of crypto-currencies, based on the dollar value of bitcoin.
5. We discover then, unfortunately, that some graphics cards do not allow the mining. This is the case for the author of these lines, reduced to working in conditions of extreme computer deprivation.
6. Comparison which is at the heart of a hilarious note on the ponzicoin, signed by the economic journalist Matthew OBrien, on The Atlantic (to read if you intend seriously to invest in the dogecoin).
Let’s take a lucky guess that you’re here today because you’ve heard a lot about cryptocurrencies and you want to get involved, right? If you’re a community person, Dogecoin mining might be the perfect start for you! Bitcoin was the first in 2009, and now there are hundreds of cryptocurrencies. These new coins (that operate on their own native blockchain) are called altcoins or alternative coins. One popular altcoin is Dogecoin. It can be bought, sold and traded, just like Bitcoin. It can also be mined! So, what is Dogecoin mining? You’ll know what hardware and what software you need to get started. You’ll also know whether or not Dogecoin mining is for you! So, where would you like to start? The beginning? Great choice. Let’s have a quick look at how Dogecoin got started. A (Very) Short History of Dogecoin In 2013, an Australian named Jackson Palmer and an American named Billy Markus became friends. They became friends because they both liked cryptocurrencies. However, they also thought the whole thing was getting too serious so they decided to create their own. Palmer and Markus wanted their coin to be more fun and more friendly than other crypto coins. They wanted people who wouldn’t normally care about crypto to get involved. They decided to use a popular meme as their mascot — a Shiba Inu dog. https://preview.redd.it/rymnyyz1iil31.png?width=303&format=png&auto=webp&s=f138e3fe56eef9c6b0e7f49b84fefc41fb83e5aa Dogecoin was launched on December 6th, 2013. Since then it has become popular because it’s playful and good-natured. Just like its mascot! Dogecoin has become well-known for its use in charitable acts and online tipping. In 2014, $50,000 worth of Dogecoin was donated to the Jamaican Bobsled Team so they could go to the Olympics. Dogecoin has also been used to build wells in Kenya. Isn’t that awesome! Users of social platforms – like Reddit – can use Dogecoin to tip or reward each other for posting good content. Dogecoin has the 27th largest market cap of any cryptocurrency. Note: A market cap (or market capitalization) is the total value of all coins on the market. So, Dogecoin is a popular altcoin, known for being fun, friendly and kind. It’s a coin with a dog on it! You love it already, don’t you? Next, I want to talk about how mining works… What is Mining? To understand mining, you first need to understand how cryptocurrencies work. Cryptocurrencies are peer-to-peer digital currencies. This means that they allow money to be transferred from one person to another without using a bank. Every cryptocurrency transaction is recorded on a huge digital database called a blockchain. The database is stored across thousands of computers called nodes. Nodes put together groups of new transactions and add them to the blockchain. These groups are called blocks. Each block of transactions has to be checked by all the nodes on the network before being added to the blockchain. If nodes didn’t check transactions, people could pretend that they have more money than they really do (I know I would!). Confirming transactions (mining) requires a lot of computer power and electricity so it’s quite expensive. Blockchains don’t have paid employees like banks, so they offer a reward to users who confirm transactions. The reward for confirming new transactions is new cryptocurrency. The process of being rewarded with new currency for confirming transactions is what we call “mining”! https://preview.redd.it/rcut2jx3iil31.png?width=598&format=png&auto=webp&s=8d78d41c764f4fe4e6386da4f40a66556a873b87 It is called mining because it’s a bit like digging for gold or diamonds. Instead of digging with a shovel for gold, you’re digging with your computer for crypto coins! Each cryptocurrency has its own blockchain. Different ways of mining new currency are used by different coins where different rewards are offered. So, how do you mine Dogecoin? What’s special about Dogecoin mining? Let’s see… What is Dogecoin Mining? Dogecoin mining is the process of being rewarded with new Dogecoin for checking transactions on the Dogecoin blockchain. Simple, right? Well no, it’s not quite that simple, nothing ever is! Mining Dogecoin is like a lottery. To play the lottery you have to do some work. Well, actually your computer (or node) has to do some work! This work involves the confirming and checking of transactions which I talked about in the last section. Lots of computers work on the same block of transactions at the same time but the only one can win the reward of new coins. The one that earns the new coins is the node that adds the new block of transactions to the old block of transactions. This is completed using complex mathematical equations. The node that solves the mathematical problem first wins! It can then attach the newly confirmed block of transactions to the rest of the blockchain. Most cryptocurrency mining happens this way. However, Dogecoin mining differs from other coins in several important areas. These areas are;
Algorithm: Each cryptocurrency has a set of rules for mining new currency. These rules are called a mining or hashing algorithm.
Block Time: This is the average length of time it takes for a new block of transactions to be checked and added to the blockchain.
Difficulty: This is a number that represents how hard it is to mine each new block of currency. You can use the difficulty number to work out how likely you are to win the mining lottery. Mining difficulty can go up or down depending on how many miners there are. The difficulty is also adjusted by the coin’s protocol to make sure that the block time stays the same.
Reward: This is the amount of new currency that is awarded to the miner of each new block.
Now, let’s compare how DogeCoin mining works compared to Litecoin and Bitcoin… Mining Comparison Bitcoin uses SHA-256 to guide the mining of new currency and the other two use Scrypt. This is an important difference because Scrypt mining needs a lot less power and is a lot quicker than SHA-256. This makes mining easier for miners with less powerful computers. Fans of Litecoin and Dogecoin think that they are fairer than Bitcoin because more people can mine them. Note: In 2014, Litecoin and Dogecoin merged mining. This means they made it possible to mine both coins in the same process. Dogecoin mining is now linked with Litecoin mining. It’s like two different football teams playing home games in the same stadium! Mining Dogecoin is a lot faster than mining Litecoin or Bitcoin. The block reward is much higher too! Don’t get too excited though (sorry!). Dogecoin is still worth a lot less than Bitcoin and Litecoin. A reward of ten thousand Dogecoin is worth less than thirty US Dollars. A reward of 12.5 Bitcoin is currently worth 86,391.63 US Dollars! However, it’s not as bad as it sounds. Dogecoin mining difficulty is more than one million times less than Bitcoin mining difficulty. This means you are much more likely to win the block reward when you mine Dogecoin. Now I’ve told you about what Dogecoin mining is and how it works, would you like to give it a try? Let’s see what you need to do to become a Dogecoin miner… How to Mine Dogecoin There are two ways to mine Dogecoin, solo (by yourself) or in a Dogecoin mining pool. Note: A Dogecoin pool is a group of users who share their computing power to increase the odds of winning the race to confirm transactions. When one of the nodes in a pool confirms a transaction, it divides the reward between the users of the pool equally. Dogecoin Mining: Solo vs Pool When you mine as a part of a Dogecoin pool, you have to pay fees. Also, when the pool mines a block you will only receive a small portion of the total reward. However, pools mine blocks much more often than solo miners. So, your chance of earning a reward (even though it is shared) is increased. This can provide you with a steady new supply of Dogecoin. If you choose to mine solo then you risk waiting a long time to confirm a transaction because there is a lot of competition. It could be weeks or even months before you mine your first block! However, when you do win, the whole reward will be yours. You won’t have to share it or pay any fees. As a beginner, I would recommend joining a Dogecoin pool. This way you won’t have to wait as long to mine your first block of new currency. You’ll also feel like you’re part of the community and that’s what Dogecoin is all about! What You Need To Start Mining Dogecoin Before you start Dogecoin mining, you’ll need a few basics. They are;
A PC with either Windows, OS X or Linux operating system.
An internet connection
A Shiba Inu puppy (just kidding!)
You’ll also need somewhere to keep the Dogecoin you mine. Go to Dogecoin’s homepage and download a wallet. Note: A wallet is like an email account. It has a public address for sending/receiving Dogecoin and a private key to access them. Your private keys are like your email’s password. Private keys are very important and need to be kept completely secure. There are two different types; a light wallet and a full wallet. To mine Dogecoin, you’ll need the full wallet. It’s called Dogecoin Core. Now that you’ve got a wallet, you need some software and hardware. Dogecoin Mining Hardware You can mine Dogecoin with;
Your PC’s CPU: The CPU in your PC is probably powerful enough to mine Dogecoin. However, it is not recommended. Mining can cause less powerful computers to overheat which causes damage.
A GPU: GPUs (or graphics cards) are used to improve computer graphics but they can also be used to mine Dogecoin. There are plenty of GPUs to choose from but here are a few to get you started;SAPPHIRE Pulse Radeon RX 580 ($426.98)Nvidia GeForce GTX ($579.99)ASUS RX Vega 64 ($944.90)
A Scrypt ASIC Miner: This is a piece of hardware designed to do one job only. Scrypt ASIC miners are programmed to mine scrypt based currencies like Litecoin and Dogecoin. ASIC miners are very powerful. They are also very expensive, very loud and can get very hot! Here’s a few for you to check out;Innosilicon A2 Terminator ($760)Bitmain Antminer L3 ($1,649)BW L21 Scrypt Miner ($7,700)
Dogecoin Mining Software Whether you’re mining with an ASIC, a GPU or a CPU, you’ll need some software to go with it. You should try to use the software that works best with the hardware you’re using. Here’s a short list of the best free software for each choice of mining hardware;
CPU: If you just want to give mining a quick try, using your computer’s CPU will work fine. The only software I would recommend for mining using a CPU only is CPU miner which you can download for free here.
GPU: If you mine with a GPU there are more software options. Here are a few to check out;CudaMiner– Works best with Nvidia products.CGminer– Works with most GPU hardware.EasyMiner– User-friendly, so it’s good for beginners.
Scrypt ASIC miner:MultiMiner– Great for mining scrypt based currencies like Litecoin and Dogecoin. It can also be used to mine SHA-256 currencies like Bitcoin.CGminer and EasyMiner can also be used with ASIC miners.
Recommendations You’re a beginner, so keep it simple! When you first start mining Dogecoin I would recommend using a GPU like the Radeon RX 580 with EasyMiner software. Then I would recommend joining a Dogecoin mining pool. The best pools to join are multi-currency pools like Multipool or AikaPool. If you want to mine Dogecoin but don’t want to invest in all the tech, there is one other option… Dogecoin Cloud Mining Cloud mining is mining without mining! Put simply, you rent computer power from a huge data center for a monthly or yearly fee. The Dogecoin is mined at the center and then your share is sent to you. All you need to cloud mine Dogecoin is a Dogecoin wallet. Then choose a cloud mining pool to join. Eobot, Nice Hash and Genesis Mining all offer Scrypt-based cloud mining for a monthly fee. There are pros and cons to Dogecoin cloud mining; The Pros
It’s cheaper than setting up your own mining operation. There’s also no hot, noisy hardware lying around the house!
As a beginner, there isn’t a lot of technical stuff to think about.
You get a steady supply of new currency every month.
Cloud mining pools don’t share much information about themselves and how they work. It can be hard to work out if a cloud mining contract is a good value for money.
You are only renting computer power. If the price of Dogecoin goes down, you will still have to pay the same amount for something that is worthless.
Dogecoin pools have fixed contracts. The world of crypto can change very quickly. You could be stuck with an unprofitable contract for two years!
It’s no fun letting someone else do the mining for you!
Now you know about all the different ways to mine Dogecoin we can ask the big question, can you make tons of money mining Dogecoin? So, Is Dogecoin Mining Profitable? The short answer is, not really. Dogecoin mining is not going to make you a crypto billionaire overnight. One Dogecoin is worth 0.002777 US Dollars. If you choose to mine Dogecoin solo, it will be difficult to make a profit. You will probably spend more money on electricity and hardware than you will make from Dogecoin mining. Even if you choose a Dogecoin pool or a cloud pool your profits will be small. However, if you think I am telling you to not mine Dogecoin, then you’re WRONG! Of course, I think you should mine Dogecoin! But why? Seriously… Well, you should mine Dogecoin because it’s fun and you want to be a part of the Dogecoin family. Cryptocurrency is going to change the world and you want to be part of that change, right? Mining Dogecoin is a great way to get involved. Dogecoin is the coin that puts a smile on people’s faces. By mining Dogecoin you’ll be supporting all the good work its community does. You’ll learn about mining from the friendliest gang in crypto. And who knows? In a few years, the Dogecoin you mine now could be worth thousands or even millions! In 2010, Bitcoin was worthless. Think about that! Only you can choose whether to mine Dogecoin or not. You now know everything you need to know to make your choice. The future is here. So, what are you going to do?
Crypto Mining for Beginners. Is it really worth it?
Image from blokt.com Mining cryptocoins is an arms race that rewards early adopters. You might have heard of Bitcoin, the first decentralized cryptocurrency that was released in early 2009. Similar digital currencies have crept into the worldwide market since then, including a spin-off from Bitcoin called Bitcoin Cash. You can get in on the cryptocurrency rush if you take the time to learn the basics properly.
Which Alt-Coins Should Be Mined?
Image from btcwarp.com If you had started mining Bitcoins back in 2009, you could have earned thousands of dollars by now. At the same time, there are plenty of ways you could have lost money, too. Bitcoins are not a good choice for beginning miners who work on a small scale. The current up-front investment and maintenance costs, not to mention the sheer mathematical difficulty of the process, just doesn't make it profitable for consumer-level hardware. Now, Bitcoin mining is reserved for large-scale operations only. Litecoins, Dogecoins, and Feathercoins, on the other hand, are three Scrypt-based cryptocurrencies that are the best cost-benefit for beginners. Dogecoins and Feathercoins would yield slightly less profit with the same mining hardware but are becoming more popular daily. Peercoins, too, can also be a reasonably decent return on your investment of time and energy. As more people join the cryptocoin rush, your choice could get more difficult to mine because more expensive hardware will be required to discover coins. You will be forced to either invest heavily if you want to stay mining that coin, or you will want to take your earnings and switch to an easier cryptocoin. Understanding the top 3 bitcoin mining methods is probably where you need to begin; this article focuses on mining "scrypt" coins. Also, be sure you are in a country where bitcoins and bitcoin mining is legal.
Is It Worth It to Mine Cryptocoins?
As a hobby venture, yes, cryptocoin mining can generate a small income of perhaps a dollar or two per day. In particular, the digital currencies mentioned above are very accessible for regular people to mine, and a person can recoup $1000 in hardware costs in about 18-24 months. As a second income, no, cryptocoin mining is not a reliable way to make substantial money for most people. The profit from mining cryptocoins only becomes significant when someone is willing to invest $3000-$5000 in up-front hardware costs, at which time you could potentially earn $50 per day or more.
Set Reosonable Expectations
If your objective is to earn substantial money as a second income, then you are better off purchasing cryptocoins with cash instead of mining them, and then tucking them away in the hopes that they will jump in value like gold or silver bullion. If your objective is to make a few digital bucks and spend them somehow, then you just might have a slow way to do that with mining. Smart miners need to keep electricity costs to under $0.11 per kilowatt-hour; mining with 4 GPU video cards can net you around $8.00 to $10.00 per day (depending upon the cryptocurrency you choose), or around $250-$300 per month. The two catches are: 1) The up-front investment in purchasing 4 ASIC processors or 4 AMD Radeon graphic processing units 2) The market value of cryptocoins Now, there is a small chance that your chosen digital currency will jump in value alongside Bitcoin at some point. Then, possibly, you could find yourself sitting on thousands of dollars in cryptocoins. The emphasis here is on "small chance," with small meaning "slightly better than winning the lottery." If you do decide to try cryptocoin mining, definitely do so as a hobby with a very small income return. Think of it as "gathering gold dust" instead of collecting actual gold nuggets. And always, always, do your research to avoid a scam currency.
How Cryptocoin Mining Works
Let's focus on mining scrypt coins, namely Litecoins, Dogecoins, or Feathercoins. The whole focus of mining is to accomplish three things: - Provide bookkeeping services to the coin network. Mining is essentially 24/7 computer accounting called "verifying transactions." - Get paid a small reward for your accounting services by receiving fractions of coins every couple of days. - Keep your personal costs down, including electricity and hardware.
The Laundry List: What You Will Need to Mine Cryptocoins
https://preview.redd.it/gx65tcz0ncg31.jpg?width=1280&format=pjpg&auto=webp&s=f99b79d0ff96fe7d529dc20d52964b46306fb070 You will need ten things to mine Litecoins, Dogecoins, and/or Feathercoins. 1) A free private database called a coin wallet. This is a password-protected container that stores your earnings and keeps a network-wide ledger of transactions. 2) A free mining software package, like this one from AMD, typically made up of cgminer and stratum. 3) A membership in an online mining pool, which is a community of miners who combine their computers to increase profitability and income stability. 4) Membership at an online currency exchange, where you can exchange your virtual coins for conventional cash, and vice versa. 5) A reliable full-time internet connection, ideally 2 megabits per second or faster speed. 6) A hardware setup location in your basement or other cool and air-conditioned space. 7) A desktop or custom-built computer designed for mining. Yes, you may use your current computer to start, but you won't be able to use the computer while the miner is running. A separate dedicated computer is ideal. Do not use a laptop, gaming console or handheld device to mine. These devices just are not effective enough to generate income. 8) An ATI graphics processing unit (GPU) or a specialized processing device called a mining ASIC chip. The cost will be anywhere from $90 used to $3000 new for each GPU or ASIC chip. The GPU or ASIC will be the workhorse of providing the accounting services and mining work. 10) A house fan to blow cool air across your mining computer. Mining generates substantial heat, and cooling the hardware is critical for your success. 11) You absolutely need a strong appetite of personal curiosity for reading and constant learning, as there are ongoing technology changes and new techniques for optimizing coin mining results. The most successful coin miners spend hours every week studying the best ways to adjust and improve their coin mining performance. Original Blog Post: https://www.lifewire.com/cryptocoin-mining-for-beginners-2483064
how to shibecoin v rich in minutes much instruct so simple any doge can do
UPDATE 1/21/14: I'm not updating this guide anymore. Most of the steps should still work though. See the wiki or check the sidebar for updated instructions. Before you do anything else, you need to get a wallet. Until there's a secure online wallet, this means you need to download the dogecoin client. Now open the client you just downloaded. You'll be given a default address automatically, and it should connect to peers and start downloading the dogechain (aka blockchain in formal speak). You'll know because there will be a progress bar at the bottom and at the lower right there should be a signal strength icon (TODO: add screenshots). If you've waited 2 or 3 minutes and nothing is happening, copy this:
And paste it into a new text file called dogecoin.conf, which you then place into the dogecoin app directory.
On Windows this is C:\Users\[YOUR_USER]\AppData\Roaming\DogeCoin
On Macs it's ~/Library/Application Support/DogeCoin
Now restart your qt client and the blockchain should start downloading in about 1-2 minutes. Once it finished downloading, you're ready to send and receive Dogecoins!
Decide how you want to get Dogecoin. Your options are:
I'll go into detail about each of these. I'm currently writing this out. I'll make edits as I add sections. Suggestions are welcome.
Mining is how new dogecoins are created. If you're new to crypto currencies, read this. To mine (also called "digging"), a computer with a decent GPU (graphics card) is recommended. You can also mine with your CPU, but it's not as efficient.
These instructions cover only Windows for now. To mine, you'll need to figure out what GPU you have. It'll be either AMD/ATI or Nvidia. The setup for both is approximately the same.
Step One: Choose a pool
There's a list of pools on the wiki. For now it doesn't really matter which one you choose. You can easily switch later. NOTE: Youcanmineintwoways.Solominingiswhereyouminebyyourself.Whenyoufindablockyougetallthereward.Poolminingiswhenyouteamupwithotherminerstoworkonthesameblocktogether.Thismakesitmorelikelythatyou'llfindablock,butyouwon'tgetallofit,you'llhavetosplititupwithothersaccordingtoyourshareofthework.Poolminingisrecommendedbecauseitgivesyoufrequentpayouts,becauseyoufindmoreblocks.Thelargerthepoolyoujoin,themorefrequentthepayouts,butthesmallertherewardyouget. Overalongperiodoftimethedifferencebetweenpoolandsolomininggoesaway,butifyousolomineitmightbemonthsbeforeyougetanycoins.
Step two: Set up pool account
The pool you chose should have a getting started page. Read it and follow the instructions. Instructions vary but the general idea is:
Create an account
Create a worker under the account
Grab the mining URL (usually on the getting started page)
Setup your cash out options in your account settings by entering one of your wallet's receiving addresses
When you're done with this, you'll need to know:
Your account, worker name, and worker password
The mining (stratum) URL (usually the pool's URL followed by a port)
Step three: Download mining software
For best performance you'll need the right mining software.
Create a text file in the same folder as your miner application. Inside, put the command you'll be running (remove brackets). For AMD it's cgminer.exe --scrypt -o stratum+tcp://: -u -p For Nvidia it's cudaminer.exe -o stratum+tcp://: -O : Substitute the right stuff in for the placeholders. Then on the next line of the text file type pause. This will let you see any errors that you get. Then save the file with any name you want, as long as the file extension is .bat. For example mine_serverName.bat.
Step five: Launch your miner
Just open the .bat file and a command line window should pop up, letting you know that the miner is starting. Once it starts, it should print out your hash rate. If you now go to the pool website, the dashboard should start showing your hashrate. At first it'll be lower than what it says in the miner, but that's because the dashboard is taking a 5 minute average. It'll catch up soon enough. NOTE: Anormalhashrateisbetween50Kh/suptoeven1Mh/sdependingonyourGPU.
You're now mining Dogecoins
That's it, nothing more to it.
CPU mining isn't really recommended, because you'll be spending a lot on more on power than you'd make from mining Dogecoin. You could better spend that money on buying Dogecoin by trading. But if you have free electricity and want to try it out, check out this informative forum post.
Trading has been difficult so far, but Dogecoin just got added to a few new exchanges. If you don't have a giant mining rig, this is probably the best way to get 100k or more dogecoins at the moment. I'll write up a more complete guide, but for now check out these sites:
Faucets are sites that give out free coins. Usually a site will give out somewhere between 1 and 100 Dogecoin. Every site has its own time limits, but usually you can only receive coins once every few hours, or in some cases, days. It's a great way to get started. All you do is copy your address from the receive section of your wallet and enter it on some faucet sites. Check out /dogecoinfaucets for more. If you go to each site on there you might end up with a couple hundred Dogecoin!
This method is pretty straightforward. Post your receiving address, and ask for some coins. Such poor shibe. The only catch is, don't do it here! Please go to /dogecoinbeg.
Other redditors can give you Dogecoin by summoning the tip bot, something like this: +dogetipbot 5 doge This might happen if you make a good post, or someone just wants to give out some coins. Once you receive a tip you have to accept it in a few days or else it'll get returned. Do this by following the instructions on the message you receive in your inbox. You reply to the bot with "+accept". Commands go in the message body. Once you do that, the bot will create a tipping address for you, and you can use the links in the message you receive to see your info, withdraw coins to your dogecoin-qt wallet, see your history, and a bunch of other stuff. As a bonus, so_doge_tip has a feature where you can get some Dogecoins to start with in exchange for how much karma you have. To do this, send the message "+redeem DOGE" to so_doge_tip. You'll need to create a tipping account if you don't have one. If you want to create a tipping account without ever being tipped first, message either of the bots with "+register" and an address will be created for you.
1/21/14 - Added note about this thread no longer being updated
1/21/14 - Changed wallet links to official site
12/27/13 - Added 1.3 wallet-qt links
12/21/13 - Added new windows 1.2 wallet link
12/20/13 - Fixed +redeem text
12/18/13 - Added short blurb on trading.
12/18/13 - Updated cudaminer to new version (cudaminer-2013-12-18.zip).
ooobtc exchange- high volume for trading crypto asset
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Top Trading Cryptocurrency Pairs of 2018: Changelly Analytics
The year 2018 was not as fortunate for the cryptocurrency market as 2017. On the one hand, due to the market downfall, dozens of cryptocurrencies lost in value. On the other – this crypto winter helped to crystallize more strict rules towards industry regulations, and also triggered to leave those market players who are not ready to interact with the emerging realities. Changelly formed the ratings of the top-10 most popular crypto trading pairs along with the most sold cryptocurrencies and most bought cryptos of 2018. You are welcome to read this overview to find out what was this year like for the exchange service and its users. Hopefully, this overview will help you to make some useful conclusions or even to forecast your further behavior in the crypto field.
Top-10 Cryptocurrency Trading Pairs of 2018
Just a small reminder: one of the key concepts of the cryptocurrency market is a Crypto Trading Pair. It is formed when you decide to exchange one crypto asset for another. Below are top-10 crypto trading pairs in 2018 according to Changelly crypto exchange service: https://preview.redd.it/dgqhaf6lz7r21.png?width=1024&format=png&auto=webp&s=5ec885e91d3b36ce44c994e45a202df54af361df As you can see from the infographic, the first two places are shared between the BTC-ETH and ETH-BTC crypto trading pairs with the total exchange volume of 24.7% and 20.5% respectively. In the cryptocurrency market, all trading pairs usually contain these headliner currencies. This is explained by the fact that the crypto market participants keep their savings in BTC or ETH. Accordingly, when a person decides to buy cryptocurrency, which seems the most promising, he or she exchanges Bitcoin or Ethereum for the destination crypto, let’s say ABC. Thus, a crypto trading pair BTC-ABC or ETH-ABC is formed. Another crypto project which turned to be the rookie of the year is XRP. Crypto trading pair BTC-XRP takes the third place in Changelly rating. Also, XRP is still on the 3rd position in the cryptocurrency market rank. XRP started 2018 at the mark of ~USD 3.00, and during the year the rate was waving between USD 0.2 and USD 1.00. After the winter’s cryptocurrency market boom the next biggest hype around XRP peaked in autumn 2018 when the XRP market cap increased twice from US$11 billion to US$22 billion. However, there are more crypto assets worth paying attention to. Firstly, it’s the currencies which appeared as a result of a hard fork of the Bitcoin blockchain such as Litecoin. The virtual asset appeared as a result of BTC blockchain split in October 2011. However, the trading pair LTC-BTC takes the fourth stage in crypto pair rating and points the fact that in 2018 a vast amount of LTC holders preferred to exchange their LTC savings back to BTC. The other trendy crypto of the last year is DogeCoin. The fifth position in the rating takes BTC-DOGE trading pair, which shows the opposite situation if to compare with LTC-BTC trading pair. So, which factors motivated hundreds of crypto enthusiasts to exchange their BTCs in favor of the Shiba Inu coin? The first price spike occurred on the edge of 2017 and 2018 which was entirely predictable in the context of crypto hype momentum. The coin’s price reached $0.017 in comparison to $0.001 in November 2017. The second spike happened on the edge of the August and September 2018, when the Dogecoin raised from its low of $0.0025 to almost $0.05. The below-mentioned factors became the moving force for DOGE price and value significant increase:
The appearance of DOGE on the Yahoo Finance platform
https://preview.redd.it/c1ql74gqz7r21.png?width=1024&format=png&auto=webp&s=24de3f9f40c44ca6ef9ec193b39b971861fb8339 Despite all the ups and downs of the market along the previous year, the pioneer cryptos didn’t change. Such giants like Bitcoin and Ethereum formed the entire industry in its roots, so along 2018 BTC and ETH were keeping the leading positions as the most sold and bought assets on the crypto market. The fourth position goes to Monero or XMR with a total selling volume of 7.1%. As you probably know, Monero distinctive feature is total anonymity. On the one hand, this is the superpower of cryptocurrency which has been moving the blockchain industry forward from the very beginning. On the other hand, the time has shown that the abuse of anonymity became a disruptive power, following increased incidents of using Monero for money laundering. Thus, the decision to eliminate Monero from Changelly was motivated primarily by security reasons. As you can see from the diagram, Monero takes the 4th position in the top-10 most sold cryptos on Changelly even though the asset was switched off from the service in autumn 2018. The last but not the least cryptocurrency in Top-10 most sold cryptocurrencies rating is USDT. The first stablecoin pegged to USD fiat currency caused quite a stir along 2018. A sharp drop in price occurred in the middle of October 2018. Anonymous attackers provoked the accident to increase the price of other cryptocurrencies.
Top-10 Most Bought Cryptocurrencies in 2018
There’s an interesting observation if to compare diagrams with the most sold and most bought crypto assets of 2018. In both cases, BTC and ETH took the 1st and the 2nd places respectively. However, along 2018 the trend to sell Bitcoin contrasted with the trend to buy Ethereum. https://preview.redd.it/7qyggmq008r21.png?width=1024&format=png&auto=webp&s=35dd0dc46e6be226c652d4350c3f5733709a5ebd The total value of sold BTC is 42.8% against 16.6% of sold ETH, while the chart of the most bought cryptocurrencies shows only 34.5% of BTC against 24.3% of ETH. There is another prominent altcoin we haven’t mentioned yet. Bitcoin blockchain split made much noise back in 2017. As a result, the new cryptocurrency BCH was born. The hard fork took effect on 1 August 2017. In November 2018 Bitcoin Cash was hard forked again and split into Bitcoin Cash and Bitcoin SV. The confrontation of two communities surrounded the occasion. Following the network split, BCH market cap dropped dramatically. However, starting with the middle of December 2018, the market volume was partly compensated. The fourth place in the most bought cryptocurrency rating takes Litecoin. Despite the descending LTC price trend along 2018, 8% of Changelly users took their chance on Litecoin. And as we can see now investment in LTC back in 2018 paid off at the beginning of 2019. As the Litecoin price increased almost three times from the beginning of the year.
To sum it up, let’s take a look at all the graphics once again. What do we see?
Even though the cryptocurrency market is quite volatile the pioneer cryptos take the lead. The statistics show that Bitcoin, Ethereum, and XRP take the 1st, the 2nd, and the 3rd places respectively on Changelly.com as well as on Coinmarcketcap;
Besides BTC and ETH, the most bought cryptocurrencies along 2018 were BCH and LTC;
The statistics also show that high-profile events frequently form the crypto market cap, whether it’s a hard fork (like in case with BCH) or a stablecoin release (like the USDT release). There is no smoke without fire;
At the same time such cases like the one with Litecoin clearly illustrates that even when its long bearish trend for a coin, the price reversal can happen any moment;
Moreover, following the research, we can see that there are a lot of long-standing cryptocurrencies that take place in the top-10 rating. No matter the hype, such factors like the technology behind the crypto, and the time of cryptocurrency existence can make it worth investing.
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