06-02 04:22 - 'Million Dollar Bitcoin Homepage - Be a part of Bitcoin Revolution!' (self.Bitcoin) by /u/milliondollarbtcpage removed from /r/Bitcoin within 5-15min
''' Pixel Advertising Available - 1,000,000 pixels / Price - 0.001 BTC per pixel This Million Dollar Bitcoin Homepage doesn’t just benefit myself. It has been created mainly to promote crypto currency, a “new” way of money and currency transaction that I think will have more and more users each year. It may sound confusing to someone that has never heard of this, or to someone who doesn’t have an idea about all the things you can do on the internet nowadays. That’s what I am trying to do. I want to help you understand, promote and give my contribution to improving crypto currencies. Equal distribution and less manipulation of the crypto currency is what I am aiming to achieve. So, I just want to help, and leave my mark in the system of crypto currency. That’s why this Million Dollar Bitcoin Page is created, and you can be a part of it! You can buy space, pixels, that will contain your pixel advert image and a link to your website. As users grow you will be having more and more views, meaning – more clients. That’s why investing in your space on the Million Dollar Bitcoin Home Page is valuable. Your link to your site will stay there for at least 5 years! The minimum you can buy is 100 pixels, buying anything smaller is simply not good for you or me. Your ad won’t look good and it would just be there like a coffee stain on the homepage. [link]1 ''' Million Dollar Bitcoin Homepage - Be a part of Bitcoin Revolution! Go1dfish undelete link unreddit undelete link Author: milliondollarbtcpage 1: *ill*on*ollarbi*coi**age*com Unknown links are censored to prevent spreading illicit content.
The “Million Dollar Homepage” for Bitcoin Kilobitcoinhomepage.com Offers Unique Rewards for Advertisers and Visitors
"Bitcoin Press Release: New “Million Dollar Homepage” for Bitcoin, Kilobitcoinhomepage.com offers many unique advantages for advertisers that purchase ownership of pixels for life. Visitors also automatically go in a draw to earn free Bitcoin by clicking on images that link to Bitcoin businesses websites. Innovative Bitcoin advertising platform Kilobitcoinhomepage.com (kBTC) offers cryptocurrency companies worldwide the opportunity to buy permanent advertisement space measured in pixels. Unique benefits for advertisers include that they fully own their pixels, and can change their image and advertising content at any time. When visitors on Kilobitcoinhomepage.com hover over an ad a thumbnail image will appear for that business with more information making it easy to browse through multiple ads. When an image is clicked a slide show will appear giving a detailed overview of the company. All slide-show images will lead visitors straight to the businesses website." Read more: http://bitcoinprbuzz.com/the-million-dollar-homepage-for-bitcoin-kilobitcoinhomepage-com-offers-unique-rewards-for-advertisers-and-visitors/
Market News “May you live in interesting times” indeed. As the coronavirus continues to diminish global demand, the world is flush with oil and running out of storage space. This week, for the first time ever, oil prices turned negative. The May WTI contract which expired on Tuesday, settled at $10.01 a barrel, having closed at a discount of $37.63 in the previous session. Demand for oil is plummeting and despite a deal by Saudi Arabia, Russia and other nations to cut production, the world is running out of storage facilities to keep up with the remaining supply of ~100 million barrels a day. The pain experienced in the oil markets carried over to the stock market as Asian, European and US stock indexes fell in the wake of this unprecedented occurrence. The markets slightly rebounded however the S&P 500 and NASDAQ still ended on a slight decline from the previous week, the first negative performance in 3 weeks. This comes after data showed another 4.4 million Americans filed for unemployment and a report indicating Gilead’s potential Covid-19 drug trial failed in China. With the recent dollar gains beginning to fade, gold has rebounded to once again cross the $1700 level, ending the week up 1%. Cryptoassets also performed well, with Bitcoin up almost 5% and Ethereum roughly 8%. It is expected that the uncertainty around the easing of lockdown restrictions and the likelihood that the market is facing a global recession could provide support for both gold and cryptoassets in the medium term. Industry News
P95G Market Weekly Report BTC/USD hourly chart The Bitcoin price continued to go sideway during most of the week, as volatility has decreased. The price dropped to $6,500 at one point, and was able to recover and reached $7,200 toward the end of the week. It will retest the $7,400 resistance level again soon, with the current support at $7,000. The BTC price at $7,400 is a key level. If the price breaks above $7,400, it will likely reach $7,650 and test $8,000. However, if the price retraced without breaking through $7,400, it could fall below $7,000 and start a new downward trend. Reviews of the week: According to CoinMetrics, USDC’s market capitalization, which equals the amount in circulation since it trades at par for dollars, has jumped 65 percent, from $444 million on March 1 to $734 million at press time. Jeremy Allaire, the Circle CEO and co-founder, explains that as the global coronavirus crisis is accelerating mainstream adoption of blockchain technology, the startup’s new business model has received an unexpected boost, and this time much of the demand is for payments in normal business transactions, not just to move money quickly between cryptocurrency exchanges. As a stablecoin, USDC is designed to hold its value against the dollar, and backed by real-world dollars held in a bank, for which it can be redeemed on demand. Referring to the stablecoin Circle issues in partnership with Coinbase, he said the past several weeks’ explosive interest and growth in USDC have been witnessed: “there is clearly very significant global demand for digital dollars and the use of digital dollars as a new payment medium.” DCEP (Digital Currency Electronic Payment, DC/EP), which is the name of China’s official central bank digital currency (CBDC), has surfaced with its first mobile wallets being tested at Agricultural Bank of China (ABC). DCEP is reported already in the advanced testing phase in four Tier 1 and Tier 2 cities: Shenzhen, Xiong’an, Chengdu and Suzhou and it is positioning as replacement of M0 and using a two-tier operation delivery system. It shows that it will have the possibility to send and receive offline payments and it is not using a typical blockchain but more of a distributed ledger technology (DLT) style protocol. China is making giant strides in advancing with blockchain technology since China’s president Xi Jinping announced blockchain as one of the country’s technological priorities and advocated to “seize the opportunity” last year. Disclaimer: The above market commentary is based on technical analysis using historical pricing data, and is for reference only. It does not serve as investment or trading advice. About Coinviva: Coinviva aims to create the best crypto financial services ecosystem for both institutional and individual investors. We provide reliable fiat funding options, excellent trading liquidity, bank security level custody and one-stop high liquidity provision on-site & off-site. Our founding management team all come from top tiered investment banking (e.g. JP Morgan, Morgan Stanley, Bank of America Merrill Lynch), with fully comprehensive financial institution operation experience. Homepage: https://coinviva.com/ Telegram: https://t.me/coinviva
Coinviva Market Weekly Report - Week of 05/04/2020
BTC/USD Hourly Chart The Bitcoin price was able to break out of the upper Keltner channel at $6,540 and reached as high as $7,285 at one point. It went back to $6,818 which is near the resistance level from last December. The higher highs and higher lows show that the price is back on an upward trend. The BTC price is expected to test the $7,140 resistance next week. If the momentum keeps up, the price can potentially go back to $7,650 in the medium term. For the time-being, wait for the price to break above the Keltner channel again near $7,000 and then enter a long position, with support at around $6,650. Review of the week: Despite the economic downturn induced by the coronavirus pandemic, Kraken CEO Jesse Powell predicts that Bitcoin (BTC) and the crypto industry as a whole will perform well in the months ahead. In an interview with Forbes, Powell reveals that while many companies are laying off workers, the San Francisco-based exchange is increasing its staff by nearly 10% due to an uptick in interest in the cryptocurrency market at large ever since the coronavirus surfaced in China. He says that both the cryptocurrency and traditional markets have their share of retail investors who make trades on a whim, and that Bitcoin has remained relatively stable, with the price rebounding by 30% plus last week. A closely-watched Bitcoin (BTC) whale Joe007, who earned $20 million in realized profits on Bitfinex between February and March, says he expects more pain ahead for the global economy and predicts waves of volatility as governments push to prop up traditional markets and combat a devastating loss of jobs: “It is going to be the biggest economic shock of our generation. It will unfold in waves and over time, giving false hopes and then crushing them. The focus of the crisis will be shifting through different areas. Attempts to alleviate and solve one crisis will lead to more mess.” He expects investors to continue shifting assets to US dollars – a dynamic that pummeled equities and the crypto markets in March. In a letter to investors, CEO and co-founder of Quantum Economics, Mati Greenspan, says Bitcoin’s recent crash, along with traditional markets, is not surprising. He argues that concerns are overblown regarding whether the leading cryptocurrency still has a future after the volatile pullback: “There seems to be an existential question going around the crypto market at the moment where people are saying that if bitcoin can’t rise in this environment then it probably doesn’t have much of a reason to exist at all. After all, the narrative of using bitcoin as a safe haven in times of financial stress has been a rather strong one throughout the years and so now should really be BTC’s time to shine. Bitcoin was invented to give us an alternative to money that is controlled by governments and banks. The volatility is largely due to the fact that it’s quite new and adoption rates are unstable, which leads to large levels of speculation. So, a measure of success would be to see bitcoin remain on a slow but steady incline, rather than zooming towards the moon due to global uncertainty.” Disclaimer: The above market commentary is based on technical analysis using historical pricing data, and is for reference only. It does not serve as investment or trading advice. About Coinviva: Coinviva aims to create the best crypto financial services ecosystem for both institutional and individual investors. We provide reliable fiat funding options, excellent trading liquidity, bank security level custody and one-stop high liquidity provision on-site & off-site. Our founding management team all come from top tiered investment banking (e.g. JP Morgan, Morgan Stanley, Bank of America Merrill Lynch), with fully comprehensive financial institution operation experience. Homepage: https://coinviva.com/ Telegram: https://t.me/coinviva
Review: The most thrilling 24 hours in Bitcoin history
From 12:00 on March 12th to 12:00 on the 13th, Bitcoin, the most influential currency in the cryptocurrency industry, suffered two major declines, and its price fell from a maximum of 7,672 USD to a minimum of 3,800 USD (data from Huobi, the next Same), the decline was 50.4%, which means that the price of Bitcoin has achieved a fairly accurate "half price" in these 24 hours. Previously, Bitcoin's "halving market" was mostly considered to be an increase in market prices caused by Bitcoin's halving production, although many people have questioned the "halving market" as " The price is halved ", but when bitcoin walks out of the current bad market, it still surprises most investors. First plunge The bad 24 hours started at 12 o'clock on March 12. Due to the rapid spread of the new crown epidemic in Europe and the United States, the global financial markets have been raining for several days. After several adjustments, the price of Bitcoin has hovered up and down within the range of $ 7600-8200 in the previous three days. However, after 12 o'clock on the 12th, Bitcoin The price fell below $ 7,600 for the first time, breaking the psychological expectations of many investors, entering a rapid decline channel, and dropping to about $ 7,200 at around 18 o'clock. At this time, the decline of Bitcoin is still around 7%, which is a common occurrence in the history of Bitcoin. However, after 18 o'clock that day, the market turned sharply, and the price of bitcoin plunged again in a short period of time. It fell to US $ 5,555 within tens of minutes, a drop of 28%, and the amount of contractual positions on each platform exceeded US $ 2 billion. During the decline, most major exchanges such as Huobi, Binance, and OKEx experienced systemic freezes of varying degrees. Many users complained for a long time that the exchange app could not properly display the homepage, market page, and transaction page, and added positions, stops, and withdrawals. Obstacles such as cash withdrawal and cash withdrawal operations have also shown that this situation also highlights that mainstream exchanges still fail to address the ability of their trading systems to respond to extreme conditions. For this decline, the collective sell-off of large Bitcoin holders is considered to be the main reason. For example, Grayscale Investment, the world's largest crypto asset fund management company, was sold and sold 40,000-50,000 Bitcoins. News from the exchange said that Bitcoin sold 400,000. For a long time, bitcoin has been called "digital gold" by the blockchain industry, and has good risk aversion properties. During the tense situation between the United States and Iran in January this year and the global stock market fell, Bitcoin rose from $ 7,200 all the way to more than $ 10,000. Bitcoin's safe-haven attributes have been widely recognized in history, but this time caused by the new crown epidemic Under the risk of the global economic downturn, the decline in the price of bitcoin has become the asset with the largest depreciation among various mainstream financial assets, and its high-risk nature will most likely collapse. Some analysts believe that bitcoin should be further classified as an alternative asset. At a time when liquidity shortage is extremely serious, as a high-risk alternative investment asset with the highest volatility in the world, funds will naturally be drawn from the market by investors. Looking for safer, more liquid assets, prices plummet. "Everyone in the future will realize that Bitcoin is not digital gold, but" an amplifier of risk. " Its value cannot be anchored. Unlike other asset prices, which are affected by costs and prices, Bitcoin has no normal market value range. As of now, it does not have any convincing valuation basis, more like a swaying boat. Without the anchor, its value fluctuates greatly, and the impact of halving the market and supply and demand on it is far less important than psychological factors. "Said Cai Kailong, senior researcher at the Institute of Financial Technology of Renmin University of China. However, some people in the industry hold different opinions. "BTC is still the most powerful currency in the history of mankind. It provides liquidity 24 hours a day. This is something that other markets simply can't imagine, but because liquidity is too good, this time it just happened to happen in other markets. When funds are scarce, the first choice for selling supplementary funds has also led to the decline of gold. Of course, the amount of BTC that is currently much lower than gold is certainly unstoppable in a short period of time. "A Weibo blogger" "fhrp". In addition to the sell-off of large institutions, some mortgage lending platforms have also passively become an important boost for this downturn. In the past six months, the Defi concept has been particularly hot in the blockchain industry, and many cryptocurrency-based cryptocurrency lending platforms were born. As a result, a large number of large Bitcoin users will pledge the Bitcoin in their accounts to third-party lending platforms and use the USDT to borrow cash to purchase cash, which is equivalent to increasing leverage. However, these platforms are not mature in terms of mortgage rate setting and liquidation mechanisms. Users who increase the mortgage rate of assets have a slower transfer speed on the chain. As a result, during this period of rapid decline in the market, a large number of mortgage orders have lower mortgage assets than loans. As a result, the amount of bitcoin out-of-market positions this time was far more than in the previous period of large market volatility, which further exacerbated the selling pressure of the bitcoin spot market. From 19:00 on the 12th to the early morning of the 13th, the price of Bitcoin hovered in the range of 5800-6200 US dollars, and the market began to prepare for the next stage of the trend. Second plunge On the evening of the 12th, the stock markets of mainstream countries in Europe and the United States successively opened and collectively fell, and the stock markets of at least 11 countries, such as the United States, Canada, and the Philippines, melted down. At the close of the morning on the 13th, both the Dow Jones Industrial Average and the S & P 500 Index had the largest single-day percentage decline since the 1987 stock disaster. The Dow closed down about 2352 points, the largest drop in history. The bad performance of the stock market quickly passed to the currency market. Beginning at 7 o'clock on the 13th, the price of bitcoin plunged from the position of $ 5,800 once again, dropping all the way, and successively fell below $ 5,000 and $ 4,000. For the rapid decline of the market, many people in the industry believe that the main factor is not only the panic selling of the market, but also the mutual stepping on of contract investors. Weibo blogger "AlbertTheKing" pointed out that most of the long positions in Bitcoin leverage are in the BitMEX perpetual contract market. The long positions caused by the decline in bitcoin prices caused a series of short positions, which in turn caused arbitrage spreads and spot arbitrage. The party rushed in to open multiple orders and sell spot arbitrage at the same time, thinking it was okay. As a result, I did not expect Bitcoin to fall more and more fiercely, and his own arbitrage and long positions also burst. So at first, the leveraged bulls stepped down on each other, and later became the arbitrage party. . "Fhrp" also pointed out that because BitMEX only has BTC margin, ETH's permanent liquidation also needs to be undertaken by btc. The profit portion of the hedge order cannot be included in the margin, and BTC is not sufficient because of the card being in serious shortage. The exploding warehouse order was opaque, so that no one dared to pick up the corpse later, fearing that it would become a corpse. Of course, the key is the lack of a fusing system, so that the market can slowly wait for liquidity to keep up. Under the interweaving of many risks, the price of bitcoin is about 10:15. It has fallen below 3,800 US dollars in many exchanges such as Huobi and OKEx, which is 38% lower than the price of 0 on the day and 50.4% lower than 24 hours ago. This is the highest record in the 24-hour drop since the birth of Bitcoin. Such a precise decline cannot be doubted as the bad taste of the bookmaker behind the exchange, if the bookmaker does exist. Of course, it is not excluded that this situation is due to the tacit understanding among the main market participants, or a purely natural phenomenon. But judging from objective facts, there is indeed some evidence that the situation is unnatural. After bitcoin hit a low of $ 3,800, its price quickly rose in the next 20 minutes, rising by 59% to $ 5,250, but then fell rapidly. At the turning point of $ 3,800, which is 10:16, the BitMEX trading system, the largest bitcoin exchange in the cryptocurrency industry, suddenly stopped until 10:40. It can be seen that the time point when the Bitcoin price stopped falling rapidly and stopped rising rapidly was close to the time point when BitMEX went down and returned to normal. This shows that BitMEX has a huge influence on the secondary market, and it also makes a lot of One suspects BitMEX is manipulating the market. Sam Bankman-Fried, chief executive of Derivatives Exchange FTX, tweeted that he suspects BitMEX may have intentionally closed transactions to prevent further crashes and to avoid using exchange insurance funds. Mining company BitPico also tweeted yesterday, "According to our analysis, BitMEX Research has closed its long position of $ 993 million with its own robots and capital. Today the manipulation of the bitcoin market is caused by an entity and the investigation is ongoing. " In response to this incident, BitMEX responded that there was a hardware problem with the cloud service provider, and in a subsequent announcement, it was pointed out that the DDoS attack was the real cause of the short-term downtime. Why the downtime of the BitMEX trading system is difficult to verify, but from its objective impact, its short-term downtime plays a vital role in curbing the further decline in the price of cryptocurrencies such as Bitcoin, which has eased investment to a certain extent. The panic sentiment created by this has created space for the rebound and correction of cryptocurrency prices such as Bitcoin. Sam Bankman-Fried even speculated that if BitMEX did not go offline because of a "hardware problem" this morning (February 13), the price of Bitcoin could fall to zero. If compared with the traditional financial market, the effect of this BitMEX outage event is quite similar to the "fuse" mechanism of the stock market. Trading is suspended for dozens of minutes at the moment when investor sentiment is most panic, so this outage event Also aroused the emotions of many people in the industry. "BitMEX has helped the currency circle" melt out, "otherwise the chainless stepping will not know where to fall. After the fuse, everyone calmed down and the market returned to normal. Weibo blogger "Blockchain William" posted a blog saying, "The market is not afraid of falling, and it is not afraid of stepping on it. That is why. This is why the global stock market has melted down because investors panic. It is a bottomless pit. Once out of control, there is no bottom Now. " Of course, the factors that cause the market situation to reverse are not limited to this. According to the feedback from multiple users on social platforms, BitMEX and Binance's major exchanges forced the short positions of multiple accounts to close positions at 10 o'clock on March 13th, that is, the automatic lightening mechanism was in effect. According to the BitMEX platform mechanism, when investor contracts are forced to close out, their remaining positions will be taken over by BitMEX's strong closing system. However, if a strong liquidation position cannot be closed in the market, and when the marked price reaches the bankruptcy price, the automatic lightening system will lighten the investor holding the position in the opposite direction, and the order of lightening is determined according to the leverage and profit ratio . Specifically, due to the sharp fluctuations in the price of bitcoin, a large number of long single-series bursts and the scarcity of market liquidity. In order to control the risk, the platform will automatically place some short orders with high profit ratios and high leverage on the market, increasing market flow. It also avoids the risk to the platform caused by the inability of the short-selling order to be executed in a timely manner. According to BitMEX's announcement, about 200 positions were automatically closed by the system. And Twitter blogger Edward Morra said, "On BitMEX alone, short positions worth about $ 500 million have been liquidated." If this data is true, it means that BitMEX's strong liquidation operation has brought more than 5 to the contract market. The market price of 100 million US dollars has a significant positive effect on the market that is being sold out. However, as a compensation, BitMEX also stated that it would contact each damaged user and compensate them according to the maximum potential profit that the investor obtained during the automatic liquidation. In any case, through the operation of exchanges such as BitMEX, the price of bitcoin has entered a recovery channel, and it is still hovering at the $ 5,000 mark, while driving the entire cryptocurrency market to pick up. After this thrilling 24 hours of bitcoin, the ideal "halving market" has disappeared. The real and brutal "halving market" is coming. Perhaps many investors and investment institutions have expressed their confidence in the crypto assets represented by bitcoin. The understanding will change in this regard, and the confidence of the entire industry needs to be rebuilt. This depends on the application value of bitcoin to be deepened.
Edit: I'm adding this in, 11/14/17: I highly recommend you watch the aphelion AMA and read my response here: https://www.reddit.com/NEO/comments/7cwfkz/z/dptc7tl Hello everyone, So as the title says, I've come to the conclusion that this ICO is either a money dump or straight out scam. While ICOs are the bread and butter of the crypto world right now, and another ICO on Neo would be awesome, this has thrown up way to many red flags. I personally won't be investing, and I'll break down why. First though, here's a list of questions I asked in their subreddit, and the responses they gave: Questions I asked some questions in their Subreddit: I'll give the questions and answers here:
1.Why the timing of your ico? Literally the day before bitcoins largest hardfork is the day you decide to start your ICO?
They did a great job of side stepping the question by answering it without answering it. Personally, I'd hold an ICO before a bitcoin fork too, if I knew that the price of everything was probably going to skyrocket right after the fork.
2.Could you please clarify the role of the 'advisors' on your team? In my experience, advisor could mean quite a bit or almost nothing.
We consider all advisors to be part of our team. Some of those advisors are working more than full time on Aphelion and some are available to lend advice where they have expertise.
So their advisers range from basic questions to working more than full time. Fair enough, I'll give them that.
3.You appear to be asking for quite a bit of money. Between 27 and 35 million dollars at today's prices. That's quite a bit of money. Can you explain the history of your team, and their roles in managing that sum of money? Perhaps A breakdown of costs, salaries, anticipated expenses, ect.
We have a use of proceeds outlined in our white paper. Each of our founders have experience operating multi-million dollar operations. Key players in Aphelion at the moment are not on salary.
To be clear, these people are trying to raise THIRTY. MILLION. DOLLARS. That's more than two million dollars a person if you include all their advisors, or 15 million dollars each if you only count the two founders. To put that in perspective, they're trying to raise Ten million dollars more than Ethereums original ICO and twenty million dollars more than Neo itself raised. For an exchange.
4.Can you give details on who in your team has experience in blockchain programming and will be the primary party responsible for heading the program? From what I see, you have two founders, neither of whom have given evidence that they have the ability to take on this sort of task.
Joel, noted on our homepage, has extensive blockchain programming experience and manages a robust team. We also have Adi as an advisor from Applied Blockchain. We are fully confident in our team’s ability and we are excited to grow our team in the future.
Ya know, after I got this answer, I went ahead and looked at Joel. (Who is listed as an adviser still, by the way) From what I can tell, 'Extensive blockchain programming experience' means almost none really. Here's the facebook page of the company he represents: https://www.facebook.com/allcodecom/ Only until the most recent few months has there ever even been a mention of blockchain technology. Going back and back, at no point is bitcoin, ethereum, or really anything to do with Crypto technology even mentioned before very recently. According to the linkedin page, allcode has a team of...5. Including Joel. I'm not blown away or really convinced.
5.In a similar vein, could you please be breakdown the details of how you plan to exchange neo? In terms of selling them at market cost, when, ect.
There are simply too many variables to give you an answer on this. We do not have control over market pricing.
Also, fair enough.
6.You say on your website that you plan on being based in St. Kitts. Why the switch to there from Barcelona like had been previously stated?
We have never sated that Aphelion is based in Barcelona. Aphelion has always been based in Nevis.
7.You state in your road map that you both retained legal counsel and came up with the concept by Q2 of this year. Would you be willing to provide evidence for this via email if requested?
Our legal counsel has advised us not to disclose any legal communications with unknown third parties.
Yeah, I wouldn't either, considering. I'll tell ya what aphelion Token: PM me for an email address. If you can you provide any evidence that you came up with the concept and/or research of a decentralized cryptocurrency market before March 31st of 2017 with a time dated email, I'll put in 50 neo into the ICO.
8.It appears that you've taken some time to contact the neo team in any capacity. Considering neo has only had one (mostly) successful ICO so far, it's pretty surprising to some members of CoZ that your certain to correctly pull it off without a hitch with zero help. Do you still remain as confident as before?
Does this question have a typo? We have taken the time to outreach both NEO and CoZ and have had conversations with both. We are not working directly with NEO or CoZ, but they have been kind and helpful to answer questions for us. We are highly confident that we will have a successful venture.
Yeah, I've reached out to Neo and CoZ too. CoZ was pretty surprised that you took as long as you did to contact them in regards to how your ICO would work. That Aphelion only began communicating in the last month or so is quite surprising.
9.Your whitepaper and roadmap do not state a minimum funding goal. Should you only manage to reach the paltry sum of 25 million dollars, will you be refunding your investors?
Let’s first clarify that $25M is not a paltry sum. We have a minimum funding goal of $2M and are confident we will far surpass that goal. In the event of unsold tokens, they will be burned
Yeah...it still doesn't mention the minimum funding goal in the whitepaper, nor if you fail to reach the minimum if you'll be refunding your investors. summary I've seen a lot of youtubers and Twitter users shilling this. A remarkable amount of them aren't including any disclosure that they're doing it for their social media bounty, unfortunately. Shilling at this level throws me off a lot, especially when it's from that suppoman turd. If you've reached this far, you've read most of my concerns, but I have another I'd like to add: What they are asking for amounts to about 1.2 million neo at current prices. Remember what the ultimate usage of what the Neo token represents: Voting power for consensus nodes and future blockchain decisions. If they reach their goal, they will have enough to represent 1.8 percent of the total voting rights for today's circulating Neo.That's sort of like giving one american the right to vote five million times in one election. Based on everything you've seen so far, do you feel as though these are the people you trust with that much power? Caveat emptor.
Navigating the Fundamental Analysis in Crypto (part 1)
Hi BitcoinMarkets , I am the owner of taughtu and we post trading and business articles every week teaching people something new. Since the market has been heating up lately, I wanted to share an article we recently did on fundamental analysis in crypto that I think you will enjoy! Definitely a must read before alt season. ------------------ One of the most overlooked skills in cryptocurrency, Fundamental Analysis, is the minimum one requires to preserve their capital in a highly volatile market like crypto. But what exactly is it? Introduction to Fundamental Analysis If you are good at SWOT analysis, or at least know what it is, then you are already on the right track. Traditional analyses do not work in crypto, in that a single day can wipe off billions of dollars from a project’s valuation or ‘pump’ its value by 2-10x in a day during an ‘altseason’ (yes, we will see one again). Generally speaking, one has to modify the traditional SWOT analysis and calibrate it to suit one’s own style. Moreover, the ‘standard framework’ is not suitable for crypto assets. How exactly, would obviously depend on what you are looking for in a project. More on that later. How will you get better at it? The more you analyze projects and try to find their shortcomings, the better you will become, and during this process, develop your own ‘style’. The rationale to look for shortcomings in a project is due to the fact that no project will highlight their weaknesses (and what is funny is, many projects know their weaknesses but do not care). Hence, starting to look into a project with a negative bias is always beneficial. There are three pillars to fundamental analysis in my opinion:
The project itself
The ‘blockchain level’ competition
The real world industry/application domain the project is targeting
1 - The Project It is crucial to know first, what exactly is the project trying to achieve. Many projects’ homepage doesn’t even say that. Knowing what the project aims to do would help you figure out whether the project is really required, or, can it really survive and become a full fledged currency/company. Then comes the investigation about the team, its composition, experience, vision etc. Has the team ‘doxxed’ itself, if not, do they have a solid reason for that? Are the team’s linkedin, githubs available for review? A team which is open about their experience gets plus points from me. But it is always a double edged sword, in that some projects which are at nascent stage, and no information about the team might go on to give the most returns due to undervaluation resulting from the uncertainty about the team. E.g. – Luxcore project went parabolic due to this factor, as people were betting heavily on ‘what if factor’ about the team. Interestingly, my favorite cryptocurrency project has an anon team still, even though I have a decent investment in them. My reasoning is that I am willing to take that risk, and having seen their work, I am confident that the devs know their game, and team disclosure in future will only help the project’s credibility, not the other way around. To conclude the first point, I will come to the main question – Is this project really required? We have so many privacy clones, PoS projects, ‘DAPPs’ projects (biggest meme of them all), ‘fast transaction’ based crypto currency and so on. The top 200 is overcrowded, and full of similar ideas, and I believe 80% of them will eventually die. The goal is to find the ones with a high chance of survival. So the idea has to impress me, generally in the first 2-4 minutes. Personally, if it is not unique enough, or ambitious enough, my excitement and attention starts to dwindle. And all this is before I even open the white paper. The amount of time and deep dive I do into the white paper depends on the above process. Whitepapers, in general, are intended to describe the project to a layman. What I have observed is, most people tend to skip any mention of technology/algo/implementation, thinking ‘I do not have a technical background’, and this is where some get it wrong. Spend some time to investigate those terms/ideas (Google is always your friend, IF we do not get into the data stealing aspect). By this time, one would be in a position to ascertain what exactly the project aspires to do, and the real world problem they are trying to solve. Essentially, a project has to solve a real world problem, or a problem with the blockchain technology itself, or improvise upon an existing idea by a big margin. 2 - The Competition This is the most important factor after the initial ‘vetting’ of the project. A good team will always know their competition, and focus on doing things better than them, and innovate further. If this is not true for a project, then the ONLY thing going for the project would be the difference in the respective valuations. For e.g. ,why do we need a new privacy coin, when we have projects like Monero and Zecash, which have progressed quite a bit technologically, have a big community backing them, and of course significant cash stockpile. To build up on this example, most privacy clones will die, leaving the space for the innovators to capture. There are various factors which have to be considered when we compare a big cap incumbent and a low cap challenger (to be discussed in subsequent articles). Personally, I am always inclined to bet on low/micro cap projects aiming to take on the more established ones, and envision to take the innovation to next level. To elaborate, consider an example – If project A is at $500 million+ (IN A BEAR MARKET), and a microcap, lets call it project B, have technology parity, or slightly better technology(project B), then I see no reason for it to not grow to compete with A. This is exactly where the most gains are made. But there is a risk associated with this approach – what if there is a mega ‘FUD’ hitting the project, or team gets entangled in financial issues, or maybe goes under 51% attack etc.? Some examples being $CAL, $XHV etc. If a microcap’s reputation takes a beating, it takes them significantly more time to regain credibility than their big cap competition (more on all these points in the next article). To wrap up this section, success of a project also highly depends on the competition, market dynamics, and the community backing it. 3 - The Real World Now even though fully decentralized organizations are at least 7-10 years away, for me, a project has to solve a real world problem, or a problem with the blockchain technology itself. For e.g. the logistics industry, where incorporating blockchain technology can help improve efficiencies. Another example is migration of traditional technology infrastructure of existing big companies to a decentralized one. These are mere examples. My point is, projects targeting such domains and aiming to solve real world problems, are the most probable to get adopted the fastest (adoption is not merely building more wallets, or having crypto stored in phones. That’s just the financial domain, albeit the most resilient one. More on it in the next article). To add to the point, the lesser the competition to such projects, higher the chances of success. Another approach is looking into the projects aiming to improve blockchain technology, for e.g. say the projects improving and/or enhancing Ethereum ecosystem, or bring innovation in the blockchain space, for e.g. STO focussed projects. Discussing further about the real world opportunities/domains where blockchain projects can contribute and add value(numerous) is out of scope of this introductory article. Conclusion To sum up, the above 3 steps to fundamental analysis can greatly help one to analyze the inherent value a project offers. However, these cover just a basic review of the project. There are more detailed aspects which are crucial to take a measure of a given project, viz. token economics, team finances, community, code review/audit, regulations, whether the token is actually required, what to do if you are from a non-technical background etc. These topics will be covered in subsequent articles in this series. Always DYOR! Hope these ideas help at least some of you. Written by @le_lannister taughtu.com
Hello and welcome to the Official Energi Cryptocurrency Reddit!
Below you will find a Table of Contents that will go over what Energi is and the fundamentals of the cryptocurrency.
Table of Contents
What is Energi?
What are the Fundamentals of Energi?
Long Term Vision
How to Get Started
Official Energi Website
Energi Earndrop Campaign
Energi Block Explorers
Proof-of-Stake Setup Guides
Masternode Setup Guide
1. What is Energi
Energi is a self-funding (non-ICO and No Premine) cryptocurrency that has a purpose to become the world’s leading cryptocurrency with the unification of Smart Contracts, Governance & Self-funding Treasury to ensure longevity and enable rapid growth. Energi provides a small allocation to Proof-of-Stake (PoS) rewards and takes a bulk of the coin issuance and give it to its treasury and active masternodes. Energi also allocates 10% on-going reward to the leadership of the Energi Backbone, which is significantly less compared to today’s ICOs’ rewarding their founders between 20–50% of the tokens distributed. Another trait that sets Energi apart from ICOs is they give an on-going 10% allocation through each block reward, rather than rewarding the founders up-front.
2. What are the Fundamentals of Energi?
One minute block times and a 2 megabyte block size limit provide Energi with a vast transaction capacity for regular on-chain transactions. This allows for plenty of space on the blockchain for extremely fast transactions with very low fees. Energi features a powerful on-chain scaling solution with a system of incentivized full nodes called Energi Masternodes. A masternode is a full node backed by 10,000 NRG collateral that provides level 2 scalability to the Energi Cryptocurrency. The Instant Send feature allows for instant transactions, even in times of network congestion. Transactions can be made securely and instantly ahead of the blockchain, as they are approved by a quorum of masternodes. Instant Send payments enjoy the same immutable transaction history as regular transactions, as they are later resolved on-chain as the network is able to. 40% of the inflation of Energi is allocated to masternodes, providing an extremely strong incentive to grow the number of full nodes and scalability of the network.
A key feature of Energi is its powerful treasury system. Energi makes up to 40% of the inflation available to the treasury, to be utilized in a manner that provides maximum benefit. Treasury allocation is decentralized, allowing for submitted proposals from anyone, to be voted on by masternodes and paid out from the inflation. Energi has a 14 day treasury cycle, allowing quick payments for proposal authors and contributors, as well as strategic responsiveness to effective proposals. Energi is guided by the principle that every dollar spent from its funding model, should yield more than dollar of value in return. Thanks to a 14 day treasury cycle, the Energi team is able to measure results and respond quickly to changes in strategy.
The Energi Treasury is a decentralized governance model designed with Masternodes as caretakers and stakeholders in Energi, with voting rights on how to best utilize treasury funding. This governance model reduces risk in the form of allowing participation from everyone who holds 10,000 NRG. In this way, the Energi community can work together on how to best build the strategic direction of Energi.
Energi Cryptocurrency has a simple rate of inflation at 1 million coins per month with no maximum cap. This ensures consistency in funding allocation, masternode rewards, and PoS rewards, making the economics of the cryptocurrency more understandable for everyone who chooses to participate in Energi. No coin supply limit ensures that Energi is prepared for the long term, avoiding “bubble” economics caused by dramatic early inflation that in most coins only serves to benefit founders ahead of increased adoption.
Energi conducted a fair launch on April 14, 2018 with NO ICO and NO PREMINE. Prior to launch, the Energi team gave a specific time and date for the launch of its main net, which its vibrant community eagerly awaited, so that mining could begin fairly, again avoiding centralization among the coin founders (It's important to note that Energi has transitioned to Proof-of-Work consensus to a Proof-of-Stake consensus). Energi masternode payments were designed to begin at block 216000, which occurred on September 18, 2018, almost 160 days after launch. This ensured time to list Energi on exchanges, and to grow the community, encouraging fair and equitable distribution before the extremely powerful masternode rewards began. It is all too common for masternode coins to feature a premine, which has the effect of centralizing distribution among the founders and early adopters. Energi has an ongoing Earndrop; a distribution of 4 million coins to users who contribute with social media activities about Energi, such as tweets, follows, and subscriptions on all major social media platforms. So far nearly 1 million coins have been distributed, helping to grow an enthusiastic community and serve to bring coins to the market in a way that is inspired by generosity.
Delayed masternode payments have allowed the market time to react to the future of Energi, helping to ensure a decentralized community of masternode holders. Decentralized governance with masternodes help to ensure everyone is able to participate in Energi and help guide the project to achieve the best results.
Long Term Vision
All of the above features seamlessly work together in concert, to ensure that Energi is prepared for the long term. Rather than try to closely find a niche in the market, Energi is prepared to adapt and overcome all challenges for many years to come. Energi’s use case is that of a traditional cryptocurrency, such as Bitcoin. However, Energi’s strategy is to excel by avoiding the pitfalls of previous projects, while further utilizing and improving upon the most powerful ideas in the cryptocurrency space.
3. Coin Specs
Ticker: NRG Block time: 1 minute. Hashing Algorithm: Dagger-Hashimoto (similar to Ethereum). Masternode requirements: 10,000 Energi. Treasury cycle: Every 14 days. Approximately 1 million Energi will be released per month. The allocations can be observed easily as “10/10/40/40.” 10% will go to the Energi Backbone. 10% to the PoS participants 40% to Masternodes. 40% to the Treasury. Thus, for every block, allocations are: 2.28 Energi to the Backbone, 2.28 Energi to the PoS participants, 9.14 Energi to the Treasury, and 9.14 Energi to Masternodes. Since Treasury allocations are paid in two-week cycles, they are made in lump sums of approximately 184,000 Energi every 14 days. In order to allow for widespread distribution of Energi before Masternode payments begin, Masternode rewards will be delayed until day 150, this is to allow the airdrop campaign to be completed and ensure a large amount of Energi is spread out through the community. Until this point, Masternode rewards will be re-directed to the Treasury. Thus for the first 5 months, the Treasury will have approximately 368,000 Energi every two weeks (about 800k Energi per month). The airdrop campaign is designed to release ~4 million Energi to the community.
Energi chose not to premine and not to do an ICO. Instead, we will conduct multiple rounds of Earndrops to disperse rewards for people who engage with our community. In order for us to process your Earndrop info for you in a fast and efficient manner, we ask that you upload quality information. This includes clear non-mirrored pictures, readable text in images, and non-offensive usernames. Failure to upload quality information may lead to you not receiving any Earndrop rewards. https://earndrop.energi.world/homepage
Why Kraken is an unsafe/bad exchange and why you should avoid them
It should shock you how careless and poorly run Kraken seems to be. I will explain why I believe Kraken's development team is terribly unqualified or why they are understaffed. This should alarm you because from what I've seen they are more qualified to run a bitcoin fan site, but somehow they were put in charge of running a multi million dollar exchange. Please note that this is my own personal analysis and opinion on Kraken and is in no way official or anything. You have to understand, Kraken's engineering team didn't fail at an impossible task: they failed at fundamental and basic principles of software development. That should be a giant red flag for anyone who uses and trusts kraken with their money. jespow and kraken-tyler have a lot of explaining to do here, because after seeing how many mistakes this exchange has made in the past 2 days, I can only conclude that it must either be engineered by children or completely incompetent adult engineers who have ABSOLUTELY NO BUSINESS building and scaling up a trading engine. Let's look at a timeline, shall we?
Throughout pretty much the entire year last year, Kraken totally failed to scale, and they blamed it on their trading engine. Despite millions of dollars being traded weekly/daily on their exchange, apparently they couldn't create a trading engine that would actually stay online for longer than an hour. They shoved a warning at the top of their website apologizing for how slow and awful it was and it stayed like that pretty much from June 2017 onward.
The other day they go offline for 40 hours and leave this highly unprofessional description explaining why: https://imgur.com/a/E5WbI
At some point they post this https://t.co/We6nN0WNNh And they tell us "we finally replaced our trading engine that sucked with a better one, but it immediately broke so we're trying to fix it".
40 hours of downtime and one unprofessional message on their homepage later and they're back, but they have a critical other bug where people magically lose their money when they close shorts....
Even if you knew nothing about software engineering this is absolutely ridiculous and definitely shows you how incompetent this company is. If we dive deeper into number 3 above then we really can see how much of a complete joke their engineering capabilities are: When you build any sort of software project you have these three things called unit tests, staging environments and migrations. Let's say you were building a traffic light. Unit tests would be like automatic checklists that run and say "make sure the light turns red" or "make sure the light goes yellow before going red" and "make sure the crosswalk lights work when the human presses the button". Even hobby projects often have close to 100% test coverage, meaning you strive to have all your code tested as well as you can. Kraken clearly does not have appropriate unit tests in place because they've now suffered two critical bugs which should have been caught in unit tests. Two, Kraken had no staging environment. When kraken went down for almost 40 hours they said it was from a bug they could ONLY have detected in a production environment. Well guess what? It's common practise in web/backend development to be able to spin up environments WHICH ARE IDENTICAL TO THE PRODUCTION ENVIRONMENT. It's quite clear to me that Kraken also does not have an appropriate (or competent) devOps team, because if they did have one then they would have easily been able to create a production identical environment which would have allowed for the "production only" bug to be produced. Three, Kraken decided to stay offline for 40 hours as opposed to rolling back to their last working version. This is again shocking because you never want to migrate to a new version of something (ESPECIALLY AN UNTESTED SOMETHING) without having any way to go back to your previous state. Again this shows me that Kraken has no devOps team, or they are incompetent, because upon discovering the bug, they should have been able to roll back. Summary of mistakes Kraken made:
Wrote poor (or no) unit tests which failed to cover critical aspects of their trading engine. This caused 40 hours of downtime and customers to lose their money due to a bug with short trades
Have a poor (or no) devOps team who are unable to spin up multiple environments for proper development and/or testing
Have a lack of understanding of how to properly deploy versions and create migrations, because they had no way to roll back their changes
Probably they have poor organization in general because it took them a year to attempt this scaling solution. What were they doing during that year if they weren't writing unit tests, migrations, and doing all the things a proper dev team should be doing?
They literally replaced their home page with a plain text file with 3 sentences explaining that they're offline...
Remember, this space is unregulated and while I personally enjoy this aspect of it quite a lot, it also means the burden of protecting ourselves from bad actors falls on us. And from where I stand Kraken is a bad actor because they either cheaped out on engineers despite making millions of dollars from us, or their development team is not strong enough to build and manage their application at scale. In either case they had an entire year to rectify the problem but they did nothing. But unit testing isn't magic and can't catch all bugs, right? It doesn't solve all your problems but I would say the fact that there seems to be a common bug with shorts calculating profit wrong so that clients lose money is an indication that obvious tests were skipped or written poorly. Think about it. Just how well is their shorting feature tested at all, if there's a bug in something as important as calculating profit? It's not an isolated bug either since there's multiple people reporting it. Especially considering this is a financial system and they were developing it for a long time I don't think it's a stretch to say that this wasn't tested well at all. But maybe its just too hard or impossible for them to create staging environments... Ok lets assume that it's completely impossible for them to spin up an environment as close to production as possible. First, I would ask why they built it in a way where this is impossible since it seems pretty useful for testing, but moving on I wager that they still did a poor job flipping a switch and just turning this all on for everybody at once. This wasn't a small change by the looks. If that's the case then I think they should have rolled this out slower, and not give it to 100% of their users all at once. They could've even offered a "beta" mode where fees were slightly less but "you cant get mad at us when it breaks". There's tons of ways they could've handled the release better and put simply they butchered it. But building a financial system like this is complicated! I agree it's complicated, which is why when you're a big (and probably wealthy) company like Kraken you need to hire the A-team. Instead it looks like they hired the C-team. And I know that's harsh to say but it's hard for me to go much easier on them here given the facts and that large sums of money are involved.
An interesting take on the Million Dollar Homepage... instead it accepts Bitcoin for payment. https://www.thehundredbitcoinhomepage.com From the owner: The Hundred Bitcoin Homepage is a website with a 1,000,000 pixels of advertising space for sale, available by a 100 x 100 grid of 100 pixel blocks on the homepage of the website. Advertisers can buy real estate on the homepage of the site, with a graphic advert and a dofollow link back to their website. The website accepts payment by Bitcoin only, and each pixel is for sale for 100 satoshis - minimum order is 100 pixels - 10000 satoshi’s / 0.01 BTC. The buyers advert will be live on the website indefinitely - or at least until I am 6 feet under (and I still have a few years left in me yet!). Here’s the twist - When website owners purchase ad space on the homepage, for every 100 pixels they buy, they gain a lifetime entry to a Bitcoin prize raffle that is drawn every 100 blocks or 10,000 pixels of advertising space that we sell. There will be a total of 100 prize draws over the websites lifetime and the prize is 0.10 BTC every draw until all of the advertising space on the website is sold. The more pixels you buy, the more of a chance you have of winning 0.10 BTC when each draw is initiated. A winner is picked every 100 blocks (10000 pixels) that we sell and is chosen using a random number generator. Thinking about buying an ad here... Is this worth it?
Chromapolis FUD: Stop the nonsense. (RE: The Ian Balina Scandal)
This piece was originally posted here by an anonymous writer, but I thought that it hadn't received enough views to truly defend the team. I'm sure many of you saw the Ian Balina ICO pool scandal here, but I thought it unfairly dragged down Chromaway's name with it. ---------------------------------------------- There has been massive amounts of FUD going around the ICO community–some accusations are well-founded, and I understand the confusion and anger. I’m not here to defend the actions of the team, and I’m not here to say that they have reacted in the best way possible. Nor am I here to defend the actions of Ian Balina. I am, however, here to defend the characters of the ChromaWay team and the accomplishments and contributions they have made to the blockchain industry. First of all, Alex Mizrahi has contributed more to the development of this fascinating industry than 99.99% of ICO participants. The ChromaWay team, led by Alex, were the first to create a protocol capable of issuing tokens, called “colored coins” at the time (circa 2011~2012). The concept was so new at the time that he even had to quote Meni Rosenfield on what “colored coins” were:
By the original design bitcoins are fungible, acting as a neutral medium of exchange. However, by carefully tracking the origin of a given bitcoin, it is possible to “color” a set of coins to distinguish it from the rest. These coins can then have special properties supported by either an issuing agent or a Schelling point, and have value independent of the face value of the underlying bitcoins. Such colored bitcoins can be used for alternative currencies, commodity certificates, smart property, and other financial instruments such as stocks and bonds.
What were you doing to help this revolution? They may have made mistakes--after all it is their first ICO. But it’s not fair to attack their character based on miscommunications and mistakes, that ultimately have no long-term effects on the project. If you have a problem with the way they have communicated with the community and investors that is completely reasonable. But do not start acting out character assassinations on people that have been building infrastructure in the space for years simply because you are unhappy with their inexperience in PR relations and communications. Come at them with your concerns not your vitriol. Creating anonymous posts where all you do is bash on them without providing constructive criticism will only create more problems. To add onto this, this article has been making the rounds and makes a lot of assumptions and straight out unfounded accusations. To be more specific near the end they call out an influencer known as “TheGobOne” as having been fined $400,000 by the SEC because of pooling. First of all TheGobOne is a Canadian citizen and is not governed by the SEC. And by his own word has not been in contact or been contacted by them in regards to pooling funds. To create entirely false talking points to support your narrative is as disingenuous as possible. Why the author felt the need to spread lies to try and support his point shows a clear alterior motive in trying to character assassinate influencers and team members associated with the project, rather than coming at them with purely fact based concerns. Above: TheGobOne refuting claims he was fined by the SEC in his Discord Announcements channel earlier today. Everyone in the blockchain space has been a bit on edge lately because of the serious market downturn. If you’re an investor you’ve been feeling the heat of the giant -70%+ losses on altcoins. Feeling frustrated at that is completely natural but in the end we have to make sure we don’t explode at projects and people that have little to do with our own down investments. There are teams and projects that are simply trying to build something they believe the space needs. Let’s try to make the crypto community stronger and come together to help these developers make the best projects they can. Without bombarding them with negativity for every mistake they make on the way there. Ending on a lighter note, you can see Alex’s true character in a funnily relevant thread from 2012 titled “fuck this shit, I want my own blockchain!” where he says:
I understand that many community members won't like some of these features, but the goal here is to try new things, not to get some people rich. If you don't like it, then forget about it. If nobody likes it, I have other things to do.
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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?
Just had this shower thought, isn't bitcoin/crypto currency just a p2p version of the MillionDollarHomepage that was hyped in 2005? Advertisers rushed in to get a piece of the hypes and the page died after few years where nobody care which pixel you own anymore. Except this time you purchase some digital blocks in block chained files, which shared in multiple copies via p2p protocol, and transferable to other who are interested to get their name written in the block chains files.
Walking On The Moon: How We Can Make Dogecoin's Market Cap Reach $ 50 Billion In The Next 5 Years, Even Before Bitcoin Does
Several things have happened in the beginning of this week. We shibes crowd-tipped the Jamaican Bobsled team. Our actions brought us publicity in the media. The value of dogecoin has skyrocketed, and more shibes have subscribed. But we are still in the beginning of our journey to the moon. I want to walk on the moon. But not in 20 years. That's too long. I believe it's possible to do so in the next five years. As a micro-transaction medium that allows us to deal with minute transactions, dogecoin is in a better position than Bitcoin to gain mainstream adoption. It doesn't have the problem of decimals (1 cent =0.00001 BTC). It's based on a fun meme, hence easier to talk about. Transactions are processed faster than Bitcoin. It appeals to the youth and it's based on the practice of tipping. It has a growing community, approaching 40,000 shibes as I post. Dogecoin has what it takes to reach a multi-billion market cap. Dogecoin can reach a multi-billion dollar market cap in the next few years if we shibes play our cards right.So what do we shibes need to do to get there? 1-We need to become dogecoin evangelists and ambassadors within and outside the internet. Don't just focus on tipping strangers on Reddit, focus on your friends. Do your friends in class or at work know about dogecoin? Do they see you wearing a cool T-shirt with a dogecoin or doge label on it? Teen shibes, have you tipped your parents, brothers and sister as a way of appreciating them? Never underestimate the power of word of mouth, it's how Facebook, Instagram, Twitter and WhatsApp grew. 2-We need to make doge-tipping a cultural phenomenon. It's possible. Look at Anonymous. They hack. But they hack for a social cause. Talk of organised disorder.They punish governments when they error, they expose rapists and they fight out for the oppressed. And just as we have the Doge as our symbol, they have the Guy Fawkes mask. This makes them look cool. We can become an organized movement like them, but instead of using our computers to hack, we can use our computers to tip on cool projects. Don't forget the Arab spring. Millions of people used social media to oust dictators like Qaddafi and Hosni Mubarak. And how the Harlem shake became a thing for some time last year. Shibes, we must act smart and find a way for dogecoin to become "the next trend". 3-We need more social causes to support. By helping the Jamaican Bobsled Team, we've become heroes. We need more things to support. But we also need to be selective. We have to find causes that are unique, original and can get us in the media, just like the story of Jamaican Bobsled Team got us media attention. Last year, people funded victims of Boston Marathon bombing as well as those affected by hurricane Sandy. This year, opportunities to be heroes will still happen. Let's just make sure dogecoin will be heavily used this time, then we shall be able to stamp dogecoin's name all over the internet. 4-We need to tip whether the value of doge keeps going up or down. Over the past few days people seem to have halted tipping using dogetipbot because of the value of dogecoin going up. THAT'S A MISTAKE. Remember that tipping is what brought us to this point and it's what shall take us to the Moon. If the rise in dogecoin's value is causing you to halt tipping, then buy/mine as much dogecoins as you can so that you can comfortably tip without losing many doges. Just don't stop tipping. 5-We need to always remember the true impact of tipping. When you tip, you are educating the world about dogecoins. You are making people feel appreciated, just like many of us shout WOW when we are dogetipped. That person will also learn to appreciate others by tipping. This means that they will buy dogecoin which will increase it's value. As the saying goes, it is blessed to give than to receive. We gave the Jamaican Bobsled Team $30,000, and the value of dogecoin more than doubled. 6-We need to make Vehicles that enable tipping and we need to fuel them. Dogetipbot has been an effective tool for tipping on Reddit. However, many folks are not on reddit. 'Tip with dogecoin' is the next Facebook 'like', or the next Twitter's 'tweet' or the next reddit's 'upvote'. Over the next coming months many developers will make applications that enable tipping using dogecoin on other places on the internet. I know someone will make an Android app that will enable us to tip others instantly from the phone.We need to fuel them by using their apps and informing others about them. If we don't, other developers will be discouraged from building on dogecoin. By the way, my friends and I are building a Rocket to the Moon. We've started developing a blogging platform code-named PlatformX (not actual name) -homepage screenshot- where people with creative minds like writers, photographers, artists, curators and other bloggers can showcase some content for free while hiding other content. It will be simple to use, but the underlying software is sophisticated. You can enjoy their work for free, and if you like it, you can tip to unlock and view more awesome work. We shall reveal the actual name of PlatformX and announce it here when we launch. However we'll need Beta testers when our site is up and running, if you're interested please send an email titled Notify Me When You Launch to [email protected]. 7-We need to punish those behind scams. Someone opened a twitter account pretending to be the Jamaican Bobsled Team, asking for donations. Make no mistake. Bad people out there will try to exploit our wonderful act of tipping. These people need to be exposed and embarrassed.The best way to deal with scams is to educate every newbie what to watch out for. The burden of proofing a tipping cause is authentic lies on those who organise crowd-tipping events. At platformX, we anticipate some people shall create hoaxes by tricking others to tip unlock when they have no content or wrong content locked. We have a plan in place to stop and embarrass these offenders, just wait and see. 8-Finally, once dogecoin gains widespread popularity, bigger players like Coinbase and CoinMK will start allowing us to buy doges using dollars instead of BTC. This will make it easier to purchase dogecoin, and it will drive the value up. So, fellow shibes, we have a job to do. We have making tipping a cool thing, a daily occurrence, a cultural activity, a trend. We need to make dogecoin the most popular medium for donating and dealing with micro-transactions in the internet. I suggest that the guys who organised the Jamaican Bobsled Team doge-fund should lead the way. They should make a website where after determining unique projects they could post them and we could fund, but not many less we lose focus. Many projects at a go divide the total amount of donations. One cool project at a time is enough - unless an emergency (like a sharknado in New York) occurs which could then be added to the current project. This way we could fund one project in huge sums, and this will help us get more attention in the media. As I post this, we are approaching 40,000 shibes. Think about what will happen if we make dogecoin the main medium for donating projects? Imagine what the value of dogecoin shall be when we reach 10-100 million shibes funding many projects that amount to billions? A cultural phenomenon! TO THE MOOOOOOON everyone. If this makes it to the front page of dogecoin subreddit, WOOOOW. Edit:I had misspelled [email protected], sorry for the inconvenience
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