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Dogecoin: The Meme That Turned Into A Cryptocurrency With A $300 Million Market Cap, An Important Portal To The Crypto Space

Dogecoin: The Meme That Turned Into A Cryptocurrency With A $300 Million Market Cap, An Important Portal To The Crypto Space
http://www.cypherpunklabs.com/dogecoin-the-meme-that-turned-into-a-cryptocurrency-with-a-300-million-market-cap-an-important-portal-to-the-crypto-space/
Dogecoin (DOGE), a cryptocurrency which now has a market cap of over $300 million, and at one point a market cap in excess of $2 billion, traces its origins back to a Japanese kindergarten teacher who posted pictures of her Shiba Inu in February 2010. There was one particular picture where the Shiba Inu was glaring sideways with raised eyebrows, and for some reason this picture has a similar allure as the Mona Lisa. The picture leaves it open for interpretation as to what the Shiba Inu is thinking, and people began plastering words all over the picture to indicate the dog’s thoughts. This meme was then nicknamed the doge.

https://preview.redd.it/o5a3qeyoxmk31.png?width=500&format=png&auto=webp&s=2d34893576658da1e88576d001c8a40371e65ffd
By 2013 the doge had become a full fledged viral internet sensation, and this simultaneously coincided with the rise of alternative cryptocurrencies. In 2009 the first cryptocurrency, Bitcoin, was released. Around 2013, and perhaps a little before then, people began to fork Bitcoin’s code and create all sorts of alternative cryptocurrencies.
Billy Markus, a programmer from Oregon, decided to create a cryptocurrency that would be more fun and reach a wider audience than Bitcoin. Markus teamed up with Jackson Palmer, a marketer for Adobe Systems, and they made this new fun cryptocurrency a reality. They chose the doge meme as the basis for their cryptocurrency, since it was quite popular at the time, and also adopted the algorithm from Luckycoin, where the block rewards are random like a lottery, unlike the fixed Bitcoin block rewards. Luckycoin derived its code from Litecoin, which is the #1 Scrypt cryptocurrency, and Litecoin itself is a derivation of Bitcoin.
Also importantly, Dogecoin’s Scrypt algorithm made it so miners had a low barrier to entry. Bitcoin mining had already become so competitive that only people with specialized and expensive equipment could realistically mine Bitcoin, whereas Dogecoin could be successfully mined with a GPU or even a CPU on a regular computer. This means anyone interested could easily start mining Dogecoin without spending money on mining rigs.
Further, despite being based on a meme, Dogecoin is decentralized, which puts it ahead of most of the alternative cryptocurrencies. Dogecoin has no premine and no initial coin offering (ICO), meaning all Dogecoins in circulation were distributed via mining, and the market is less prone to centralized dumping. Dogecoin uses the proof of work (PoW) algorithm which ensures the network is decentralized as well, rather than more centralized options like proof of stake (PoS).
Dogecoin launched at the exact right time to ride the dual waves of the doge meme’s popularity and the popularity of new alternative cryptocurrencies, and less than two months after launch Dogecoin had become a major cryptocurrency with a market cap in excess of $60 million.
After that, Dogecoin continued to be quite popular for a couple of reasons. As originally intended, Dogecoin ended up being a fun cryptocurrency, and a community developed around Dogecoin, especially on the Dogecoin subreddit. People began to tip each other Dogecoin constantly, especially since there were on the order of 100 billion Dogecoins, as compared to a maximum supply of only 21 million Bitcoins. This means that someone could easily tip hundreds or thousands of Dogecoins since it is not very expensive, while it is simultaneously exciting.
The general Dogecoin culture of tipping and generosity attracted many new users who had never been involved with cryptocurrency before. Newbies would first start accumulating Dogecoin tips, and then within the community they would learn how to accumulate even more Dogecoin by mining, and this represented a launching point where such users could go on to dive into the rest of the crypto space.
That is the reason why Dogecoin is still a major cryptocurrency to this day and will likely be a major cryptocurrency for the foreseeable future. The Dogecoin community is welcoming, generous, fun, and insightful. Essentially, Dogecoin is an important portal for the crypto space.
submitted by turtlecane to dogecoin [link] [comments]

I hate my Fucking Mining Rig - Short Story of my mining adventure (Don't really hate it)

Wanted to write a short write up on my journey of Crypto mining for some of the newer people and people who want to get into it. Not trying to discourage anyone from starting, but want to show the progression of a newbie.
So I am a good with computers and learned of Bitcoin when it was about $7 a coin. Laughed at the idea of some computer doing some math and getting some BS currency. Million dollar mistake on my part, but hindsight is always 20/20.
Anyways, Learned about ethereum in May. Bought some at around $180 and bought all the way up to $330. Now to the mining rig. Ran all of the calculations and with a 180 hashrate and 900 watts I was gonna get 6-7 Eth per month. Shit was gonna be profitable in under 3 months. I was gonna be a fucking crypto allstar and be rich as fuck!
Bought all of my parts literally the day before they were nonexistent. Literally bought the last RX480's from Amazon. Here is a list of my parts.
Asrock board Pentium dual core processor 4 Gb of ram 128 gb SSD 1200 watt Rosewill PSU 6 Sata to Molex PCI Risers (Junk) 6 RX480's - 2 Asus Strix, 4 Gigabyte Total cost - Roughly $2,500 (Pennies compared to my future ROI)
Please keep in mind that I am not posting every single miner issue that I ran into such as fucking with Wattman for a few weeks before learning about Trixx and Afterburner.
I've built computers before, so that part wasn't hard. Set everything up and get windows 10 running.
Problem 1 - Computer doesn't see all of the cards. Had to run the drivers a few times and tweak some shit, but got all 6 cards seen.
Miner hurdle (See what I did there) but off to the races. Let's get this bitch running so I can begin planning my retirement.
Get Claymore running, Got Trixx to overclock. Ran my cards at -96, 1200, 2200 fans at 85% (Cause I'm cool like that.) Major stability issues from the start. 1 card (Asus) would crash all the time. Didn't know about the watch dog feature in claymore that would restart my rig when a card crashed. Great feature but my computer would go into this state of having power, but not loading the operating system. Even if it did restart, most of the time claymore would get stuck right before setting the dag's and would just lock up. (Claymore program is awesome by the way, this was my rigs fault)
Could not get this fucking Asus card to stop crashing, even on stock settings. Sent the bitch back RMA style. Asus said something was wrong and sent me a new one.
Awesome, lets get this bitch running. I need to start looking at sick houses in Costa Rica to move to once I am rich as Fuck!
New card makes things better for a few days. Not 100% stable but better. Go to vegas for a driving thing (Race cars - Future rich guy stuff) and this mechanical demon starts crashing every few hours. Luckily I had Google remote desktop installed so I could log on and restart it or change settings in Trixx. Had to have my GF unplug it and plug it in a few times.
Get back home, fuck with this thing but still random crashes on random cards. Decide it is the PCI risers. Contact seller who will send me some more for free. Slow boat from china took two weeks to get them. They arrive but still some of them are bad. Can't seem to piece together 6 good ones.
Did some research online (Ethereum Forum and Reddit) and decided to get some new style of risers V007 6 Pin to Sata ($70) and they take a month to get here. Plug them all in and they seem to be working much better. Decent stability, But I ain't got time for fucking stock bios. Let's ramp these bitches up and get 32 MHs per card at 600 watts from the wall!
Actually flashing the bios was pretty easy. Thank you 6 pound 9 ounce baby jesus! Long story short had some major stability issues and bounced around with some different timing straps before finding the right ones. (Uber 3.1 for Samsung memory)
So now that we've got some good hash speeds and decent stability let's ramp this private ATM up a little bit by dual mining some Decred. Get dual mining up and running. go to sleep. Wake up the next morning expecting to see myself on the top 100 forbes list. look at my mining rig stats on my phone and see that it died roughly and hour after I went to sleep. Walked toward my rig on the red carpet I had just installed and saw that it was off. Flicked on the light to check it out. No light, WTF? Well I'll be god damned, no power in this whole fucking room. Checked my breakers and sure enough this metal motherfucker tripped my breaker.
No worries though. I'm smart as fuck. I'll just undervolt the shit out of it to get the power down. No way in hell I am just mining ether. I'm going balls to the wall!
As you can expect I had many days of stability issues and tripped breakers. But fuck it, I have homeowners insurance. Burning it to the ground will be covered. (Didn't happen)
My surge protector must be maxed out. Let's buy a bigger one ($25). Same issues.
Fuck Decred, I'll mine SIA, less power. Damn I'm smart.
Rig is more stable with Sia and no tripped breakers. Family medical emergency, have to fly north for a few days. But my rig has been fairly stable and I've got remote desktop if anything goes wrong.
Arrive at airport, check mining stats, rig is down. No worries remote desktop. FUCK, not responsive, no way to remote into the rig and no way to remotely power it off and on.
Lost 4 days of mining. But no worries the difficulty is only, Holy shit that's high! But the price of Ether will make up for it. Ether crashed to the $200's. Oh well, maybe a 10 room house in Costa instead of a 12. No sweat.
Get back to my house and this whore of a machine is just sitting there in a computer coma. It's on but it's not. LED lights glaring at me like "Fuck you human, I ain't doing your stupid math problems!" Fuck you machine, I'm your master. You will do my math problems and you will fucking like it.
My AMD Drivers seem to disappear and the computer goes into a coma like state. Someone on Reddit suggested using the 16.9.2 drivers. Installed and they worked better.
Still random crashing. This shitty PSU must be maxed out. Fuck you PSU, I'm getting you a little brother (EVGA 750 gold $120.)
What do you mean you have to jerry rig a second PSU so it starts without being connected to a motherboard? 2 more hours of my life wasted.
But finally some stability. On my way to being fucking rich. I start looking at people in bentley's and can only laugh. You dumb fuck, I'm gonna be way richer then you. Gonna get a Bugatti for each day of the week.
Damn this difficulty is a bitch. Fuck you Genesis Mining and your pallets of GPU's. You're killing me smalls!
But anyway, on my way to rolling around in my fuck you money!
Fuck you dag file 135, you're killing my future millions. Fuck you dag 138, you dropped me to 167 mhs.
Thank god AMD was there to save my ass with their dope ass blockchain drivers.
download, run DDU, Restart, install drivers, restart, run pixel patch, restart. Perfect, I'm in the money now! I can taste the caviar and champagne already.
Now my cards only run 4 Mhs each. WTF? Try a bunch of the other new drivers. Same shit. Roll back to 16.9.2 and they run fine, just at 167 instead of 180.
Someone on a forum said he had the same issue and did a fresh install of windows 10 and it worked.
So I'll just reformat my SSD (Windows wouldn't do a fresh install within the operating system. Fuck you Bill Gates! Gonna buy you once I get this thing running at 180.)
Format SSD, plug back in, throw in my gangster ass boot USB drive. Ramdisk error. Fuck you Bill Gates! Reformat SSD multiple times, lots of forum reading. Install windows from another computer through command prompt (I'm a coder now as well.) This shit has got to work, I did it in command prompt bitches!
Same fucking error. Now down to an 8 bedroom house in Costa and only 6 Bugattis.
Let's try unplugging my 6 cards and see if that works. Thank you 6 pound 9 ounce baby jesus. Windows installed.
New drivers work and I'm back at 180! Raking in the cash now.
With those speeds my Asus cards crashed. Had to dial down the hashrate to 177.5 for them to be stable. So now going to use some commands in claymore to run the Asus cards at lower speeds while letting my other cards mine harder.
I wrote this to let people know that mining isn't all Bugatti's and caviar. These machines are fickle little cunts that do what they want. No system is the same. So when you post on a forum, people will give you advice on what may work. But what works for them, may not work on your rig. In the end it's up to you to figure it out.
I have spent countless hours after work and on weekends working on this bitch. Hell I've probably spent a few hours just staring at it and thinking about all of the ways I could destroy it slowly.
While I love Etheruem and do value the knowledge gained, I would have made more money just buying Eth and holding.
The guys you see on youtube building sick rigs with crazy specs have been at it for a while. They have worked through the process and know how to solve all of the problems. You have not and will have to work them out on your own.
My whore of a rig will pay for itself soon. But I would suggest that if you want to start building a new mining rig. Check the difficulty chart and make sure you have tons of free time to fuck with it.
I'd post my wallet address for donations since I just saved you $2,600. But I am afraid hackers will steal my monies :)
Hope you enjoyed my mining life story from the past few months.
submitted by dank4us12 to EtherMining [link] [comments]

Repost - I hate my Fucking Mining rig! (Not really)(Long)

Wanted to write a short write up on my journey of Crypto mining for some of the newer people and people who want to get into it. Not trying to discourage anyone from starting, but want to show the progression of a newbie.
So I am a good with computers and learned of Bitcoin when it was about $7 a coin. Laughed at the idea of some computer doing some math and getting some BS currency. Million dollar mistake on my part, but hindsight is always 20/20.
Anyways, Learned about ethereum in May. Bought some at around $180 and bought all the way up to $330. Now to the mining rig. Ran all of the calculations and with a 180 hashrate and 900 watts I was gonna get 6-7 Eth per month. Shit was gonna be profitable in under 3 months. I was gonna be a fucking crypto allstar and be rich as fuck!
Bought all of my parts literally the day before they were nonexistent. Literally bought the last RX480's from Amazon. Here is a list of my parts.
Asrock board Pentium dual core processor 4 Gb of ram 128 gb SSD 1200 watt Rosewill PSU 6 Sata to Molex PCI Risers (Junk) 6 RX480's - 2 Asus Strix, 4 Gigabyte Total cost - Roughly $2,500 (Pennies compared to my future ROI)
Please keep in mind that I am not posting every single miner issue that I ran into such as fucking with Wattman for a few weeks before learning about Trixx and Afterburner.
I've built computers before, so that part wasn't hard. Set everything up and get windows 10 running.
Problem 1 - Computer doesn't see all of the cards. Had to run the drivers a few times and tweak some shit, but got all 6 cards seen.
Miner hurdle (See what I did there) but off to the races. Let's get this bitch running so I can begin planning my retirement.
Get Claymore running, Got Trixx to overclock. Ran my cards at -96, 1200, 2200 fans at 85% (Cause I'm cool like that.) Major stability issues from the start. 1 card (Asus) would crash all the time. Didn't know about the watch dog feature in claymore that would restart my rig when a card crashed. Great feature but my computer would go into this state of having power, but not loading the operating system. Even if it did restart, most of the time claymore would get stuck right before setting the dag's and would just lock up. (Claymore program is awesome by the way, this was my rigs fault)
Could not get this fucking Asus card to stop crashing, even on stock settings. Sent the bitch back RMA style. Asus said something was wrong and sent me a new one.
Awesome, lets get this bitch running. I need to start looking at sick houses in Costa Rica to move to once I am rich as Fuck!
New card makes things better for a few days. Not 100% stable but better. Go to vegas for a driving thing (Race cars - Future rich guy stuff) and this mechanical demon starts crashing every few hours. Luckily I had Google remote desktop installed so I could log on and restart it or change settings in Trixx. Had to have my GF unplug it and plug it in a few times.
Get back home, fuck with this thing but still random crashes on random cards. Decide it is the PCI risers. Contact seller who will send me some more for free. Slow boat from china took two weeks to get them. They arrive but still some of them are bad. Can't seem to piece together 6 good ones.
Did some research online (Ethereum Forum and Reddit) and decided to get some new style of risers V007 6 Pin to Sata ($70) and they take a month to get here. Plug them all in and they seem to be working much better. Decent stability, But I ain't got time for fucking stock bios. Let's ramp these bitches up and get 32 MHs per card at 600 watts from the wall!
Actually flashing the bios was pretty easy. Thank you 6 pound 9 ounce baby jesus! Long story short had some major stability issues and bounced around with some different timing straps before finding the right ones. (Uber 3.1 for Samsung memory)
So now that we've got some good hash speeds and decent stability let's ramp this private ATM up a little bit by dual mining some Decred. Get dual mining up and running. go to sleep. Wake up the next morning expecting to see myself on the top 100 forbes list. look at my mining rig stats on my phone and see that it died roughly and hour after I went to sleep. Walked toward my rig on the red carpet I had just installed and saw that it was off. Flicked on the light to check it out. No light, WTF? Well I'll be god damned, no power in this whole fucking room. Checked my breakers and sure enough this metal motherfucker tripped my breaker.
No worries though. I'm smart as fuck. I'll just undervolt the shit out of it to get the power down. No way in hell I am just mining ether. I'm going balls to the wall!
As you can expect I had many days of stability issues and tripped breakers. But fuck it, I have homeowners insurance. Burning it to the ground will be covered. (Didn't happen)
My surge protector must be maxed out. Let's buy a bigger one ($25). Same issues.
Fuck Decred, I'll mine SIA, less power. Damn I'm smart.
Rig is more stable with Sia and no tripped breakers. Family medical emergency, have to fly north for a few days. But my rig has been fairly stable and I've got remote desktop if anything goes wrong.
Arrive at airport, check mining stats, rig is down. No worries remote desktop. FUCK, not responsive, no way to remote into the rig and no way to remotely power it off and on.
Lost 4 days of mining. But no worries the difficulty is only, Holy shit that's high! But the price of Ether will make up for it. Ether crashed to the $200's. Oh well, maybe a 10 room house in Costa instead of a 12. No sweat.
Get back to my house and this whore of a machine is just sitting there in a computer coma. It's on but it's not. LED lights glaring at me like "Fuck you human, I ain't doing your stupid math problems!" Fuck you machine, I'm your master. You will do my math problems and you will fucking like it.
My AMD Drivers seem to disappear and the computer goes into a coma like state. Someone on Reddit suggested using the 16.9.2 drivers. Installed and they worked better.
Still random crashing. This shitty PSU must be maxed out. Fuck you PSU, I'm getting you a little brother (EVGA 750 gold $120.)
What do you mean you have to jerry rig a second PSU so it starts without being connected to a motherboard? 2 more hours of my life wasted.
But finally some stability. On my way to being fucking rich. I start looking at people in bentley's and can only laugh. You dumb fuck, I'm gonna be way richer then you. Gonna get a Bugatti for each day of the week.
Damn this difficulty is a bitch. Fuck you Genesis Mining and your pallets of GPU's. You're killing me smalls!
But anyway, on my way to rolling around in my fuck you money!
Fuck you dag file 135, you're killing my future millions. Fuck you dag 138, you dropped me to 167 mhs.
Thank god AMD was there to save my ass with their dope ass blockchain drivers.
download, run DDU, Restart, install drivers, restart, run pixel patch, restart. Perfect, I'm in the money now! I can taste the caviar and champagne already.
Now my cards only run 4 Mhs each. WTF? Try a bunch of the other new drivers. Same shit. Roll back to 16.9.2 and they run fine, just at 167 instead of 180.
Someone on a forum said he had the same issue and did a fresh install of windows 10 and it worked.
So I'll just reformat my SSD (Windows wouldn't do a fresh install within the operating system. Fuck you Bill Gates! Gonna buy you once I get this thing running at 180.)
Format SSD, plug back in, throw in my gangster ass boot USB drive. Ramdisk error. Fuck you Bill Gates! Reformat SSD multiple times, lots of forum reading. Install windows from another computer through command prompt (I'm a coder now as well.) This shit has got to work, I did it in command prompt bitches!
Same fucking error. Now down to an 8 bedroom house in Costa and only 6 Bugattis.
Let's try unplugging my 6 cards and see if that works. Thank you 6 pound 9 ounce baby jesus. Windows installed.
New drivers work and I'm back at 180! Raking in the cash now.
With those speeds my Asus cards crashed. Had to dial down the hashrate to 177.5 for them to be stable. So now going to use some commands in claymore to run the Asus cards at lower speeds while letting my other cards mine harder.
I wrote this to let people know that mining isn't all Bugatti's and caviar. These machines are fickle little cunts that do what they want. No system is the same. So when you post on a forum, people will give you advice on what may work. But what works for them, may not work on your rig. In the end it's up to you to figure it out.
I have spent countless hours after work and on weekends working on this bitch. Hell I've probably spent a few hours just staring at it and thinking about all of the ways I could destroy it slowly.
While I love Etheruem and do value the knowledge gained, I would have made more money just buying Eth and holding.
The guys you see on youtube building sick rigs with crazy specs have been at it for a while. They have worked through the process and know how to solve all of the problems. You have not and will have to work them out on your own.
My whore of a rig will pay for itself soon. But I would suggest that if you want to start building a new mining rig. Check the difficulty chart and make sure you have tons of free time to fuck with it.
I'd post my wallet address for donations since I just saved you $2,600. But I am afraid hackers will steal my monies :)
Hope you enjoyed my mining life story from the past few months.
Edit - Had an Asus card die on me and replaced it with a 1070ti. Nvidia is so much easier!
My rosewill 1200 watt PSU melted the 8 pin port and cable. Had to drop $300 on Amazons last 1300 EVGA.
But my rig has well surpassed it's cost and is still mining away like a champ. Eth for life!
submitted by dank4us12 to EtherMining [link] [comments]

My Analysis/predictions of a bunch of Cryptos

I have been in crypto technically for 2+ years but, since last spring gotten very into it. Here is my opinion on a bunch of coins. I know I don't know everything about crypto, but I also know nobody (except maybe Satoshi) can say for sure how this will play out. Here's my analysis(half-assed bullshit guesses). Yea I'm very bullish.
BTC The king. I think it has the best likelihood of mass adoption. Wales want to see liquidity before they jump in. But more importantly they want to see big marketcap. They don't want to be a huge % of a market and not be able to pull out if it drops. I think there will be a tipping point in the near future where all of a sudden major financial companies start to pour in investments and millionares/billionares dump tons of money in. Wales are what takes us to 50-100k per coin. Also at a critical mass of marketcap the stigma of "betting on bitcoin" will turn to "putting it in bitcoin". Still too early to call a winner, but once they dive in it might be too late for other coins to top it. The tech that is massively adopted is not always the best. Yea there are fees, but it is still better than a wire transfer.
Jan 1 2018: 12050 April 1 2018: 16800
ETH Very strong. Accurately valued imo. I think it might go down a bit in the next year or so to 280 and stay, but I also think it will only take a few very successful Dapps for it to explode. Good leader too. I think the move to POS is great and I think the people behind it are very dedicated and pumped.
Jan 1 2018: 310 April 1 2018: 750
LTC- solid coin. Stability and a good leader. It could become the silver to the gold. I see it continuing to be very high volume.
Jan 1 2018: 72 April 1 2018: 105
BCC- No idea.
XRP- maybe great for a short term gain but I see major problems for it long term. I know a lot of people here don't like it because they think it's centralized but that's not why I don't like it. To me the problem is that for the "product" they offer to banks they can easily face competition and lose. There are already other coins that do similar things.
Jan 1 2018: .23 April 1 2018: .40
NEM Cool idea. I really like their coin and PoI. I think this coin has a chance of being massively adopted. The only problem is that they don't market much and don't get hype going. If they saw another big 20% burst I think they would snowball and more people would look up what they were about. They have small volume which isn't good, but I think it is because those who are in it see it as the best tech.
Jan 1 2018: .25 April 1 2018: .85
NEO Another coin that could be massively adopted. I don't see it going down too much anytime soon. After all the China FUD it only took a small hit and is still in the top 10. If China endorses it or has some kind of statement that can be interpreted as pro NEO I think it will explode. I like their model and how gas works with the POS. You can't go wrong with this one.
Jan 1 2018: 42 April 1 2018: 115
**DASH- PIVX is better in EVERY way.
IOTA- I think many can agree that this is the biggest question mark. I think it is the riskiest coin, but also potentially could see the most incredible gains. If the ball starts rolling with this and if they every get to the point where they can remove the coordinator I think it's lights out. GG. The question imo is can they get to that point while still being relevant and while people still believe in them. They have to get many people using the coin before they can get to that point.
Jan 1 2018: .62 April 1 2018: 1.8
XMR (monero) Awesome coin. Honestly I think this the safest bet. It has one of the most passionate communities and a good visible leader who understands his role is replaceable. The fungibility factor is SOOOOOO under valued and I wish more coins took this part more seriously. I like that there is no rich list. This coin seems to 2x all the time. The community has the "ask not what Monero can do for you but what you can do for Monero vibe"
Jan 1 2018: 195 April 1 2018: 405
QTUM, OMG, CARDANO all seem solid, but I haven't looked into them enough.
Bitconneeeeeeeeeeeect Not feelin it.
Jan 1 2018: 380 April 1 2018: .380
LISK- I think Lisk is awesome and will pop up to 12 by spring. JS is one of the most popular languages and its users are growing. At the end of the day it's the developer that makes widespread adoption. The easier it is for them to make apps for the block chain, the faster people can adopt it. DPOS imo is pretty cool. The people behind it seem really motivated and imo they have a cool logo and easy to remember name.
Jan 1 2018: 8.14 April 1 2018: 14.01
ARK I'm not gonna pretend to understand how smart bridges work, but I think they will go up. Their team seems professional and passionate and I like DPOS.
Jan 1 2018: 3.01 April 1 2018: 7.22
ZCASH Better off with XMR or PIVX. The tweet their boss gave was pretty telling. I have a bad vibe about them.
Stellar lumens IDK. Seems a lot like ripple
Jan 1 2018: .09 April 1 2018: .112
Stratis Better off with LISK or NEM imo
Jan 1 2018: 6.11 April 1 2018: 7.18
EOS I don't really understand this coin yet
MonaCoin Japan's coin. I think NEM is better because I like their POI and the fact they have been around longer. I don't think a coin can win off just strong patriotism/nationalism unless it is directly/officially endorsed by their gov't or issued (doubt that will happen)
Jan 1 2018: 4.42 April 1 2018: 6.44
PIVX Great coin. Their dev team sets targets and hits them. ZEROCOIN + super fast transactions are hard to beat. One of the most ideal coins with a community that's very passionate.
Jan 1 2018: 4.12 April 1 2018: 10.87
Decred One of the best long term coins. They have a good team and one of the smartest roadmaps. If crypto ever gets to maximal adoption you are basically talking about universal self governance and decred has a lot of foresight with their voting system. The down sides are that it's kinda complex and a lot to read though. New comers to crypto already have enough on their plate.
Jan 1 2018: 39.55 April 1 2018: 58.86
Steem Cool idea. I don't think its going away. At the same time I wouldn't buy this unless you like using the platform
Jan 1 2018: 1.02 April 1 2018: 3.31
Augur /Gnosis cool ideas. I see more competition coming for them. The draft kings and predictit markets are already huge. it's just a matter of showing the base how to use the platform
Jan 1 2018: 21.05 April 1 2018: 38.07 Jan 1 2018: 75.33 April 1 2018: 80.60
Binance I think this will pop up. Binance already has some of the lowest fees and BNB is functional already.
Jan 1 2018: 4.22 April 1 2018: 8.64
*Vertcoin/Grostle * I think people think because it's asic resistant it's more decentralized, but I think that's only is true in early stages. If it catches on people will figure how to rig many GPUs together and mine that way. I think they will be pumped and dumped again. I think they are the new DGB VTC: Jan 1 2018: 8.94 April 1 2018: 10.20
Populous/tenx Haven't looked into it enough but have heard good things
Salt I think Salt is a great. I think they might face more competition later, but if they can be stable and reliable, people will use their services and the price will keep going up.
Jan 1 2018: 5.44 April 1 2018: 10.91
Golem Big gamble. One coin that has tremendous upside(10x) but could also fade into obscurity. It faces a lot of competition but it seems like given it's niche function it has a strong following. The Devs for this I think are good. This is a very ambitious project. Who knows maybe 1 day a super AI will run on it.
Jan 1 2018: .34 April 1 2018: .81
Factom/Civic Great ideas. I really hope one of them becomes widely accepted/adopted. FCT
Jan 1 2018: 22.47 April 1 2018: 10.87
BAT Another great idea. I hope it does well. I like trying out new browsers
Sia/Storage I think these could moon but you will have to wait a while. I like Sia a bit better.
Sia > 1 dollar 2019
ZEN/VERG/ZCOIN Great on privacy. I'm not as big on POW and I think MONERO might have too much of a head start but these coins are unique. It's still early for any of them to become top dog
Byteballs cool Idea. I like IOTA better. Raiblocks might be better than both. but they are small and not on many exchanges. And as you can tell from the quality of this post I am too lazy to sign up for some new exchange right now.
Why so Bullish? You already know Where should ppl put money? Banks... almost no interest. If they raise interest rates they could crash the market. Either way $ will be printed in mass. Bonds..... terrible rates give me a break Stocks..... Market will probably go up but could crash any time. Not as liquid as crypto (I can't buy a computer with stock on robinhood). The whole point of stocks used to be owning a part of a company and having a say. That part of the value of a stock is long gone and diluted with these mega corps and everyone just hopes for capital gains. We all know where to go for gains. gold/silver... maybe. Crypto... Sky is the limit. It will soak up all the money that people hide, new money from the young kids in tech sectors, old money who want to pass crypos to their kids, and any sector that see's the benefit of it.
Best of luck to everyone out there.
submitted by AnotherAceTeeHummR34 to CryptoCurrency [link] [comments]

ECOCRYPTO

ECOCRYPTO
ECOCRYPTO
FOR GREEN CRYPTOCURRENCY MINING
FUTURE OF CRYPTOCURRENCY
DEPENDS ON ECOLOGICAL MINING
"CRYPTOCURRENCY DEPENDS ON ECOLOGICAL MINING"
Donate BTC to support awareness enquiry:
1EaSG3WmY5fRXedhy9tbbJK3tGftKp4sAZ
Sourcece: https://cryptobriefing.com/green-crypto-mining-38bn-future/
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ANALYSIS

Green Crypto Mining Will Define The Industry’s $38bn Future

Energy usage will drop by design thanks to these critical industry developments.

📷By Nick Hall On Aug 10, 2018
1,779
1
In March this year, the sky officially fell in for Bitcoin miners. With the slump in prices and the extraordinary energy consumption it takes to mine the coins, Fortune revealed that mining a Bitcoin cost as much as buying one. Green crypto mining wasn’t even on the radar for most people until earlier this year.
That was back in March and they were the good times. Morgan Stanley revealed in April that Bitcoin miners would lose money if Bitcoin slipped below $8,600, even with low electricity figures factored in.
A recent study by Coinshare showed that the numbers attributed to the Bitcoin mining industry have been grossly exaggerated and the energy consumption is approximately 50% of the claimed 70TWh. But the numbers are still too high in terms of the financial outlay and the environmental impact of mining cryptocurrency.
Mining doesn’t begin and end with Bitcoin – and although the consensus is (mostly) set in stone, the way we create the energy needed to extract the next part of the puzzle isn’t. Which is why green crypto mining is the ONLY solution to the diminishing returns issue: more cost, for less reward, will eventually lead to an abandonment of the mine, just as it did for gold miners in California in 1848-49.
We’re not looking for one single solution either. We need four separate ones:
  1. A lighter consensus algorithm
  2. Cloud-based cryptocurrency mining.
  3. Renewable, cheaper energy sources to support physical ‘mines’.
  4. Brutal consolidation in the mining industry.

What is cryptocurrency mining?

The Proof-of-Work (PoW) protocol was popularized by shadowy Bitcoin founder Satoshi Nakamoto, building on earlier work by a variety of computer scientists including Hal Finney, and it’s a two-stage process to validate transactions and keep a flow of Bitcoins entering the market. Blocks of data are parsed off and, with Bitcoin, they contain about 1MB. Each block is then locked and coded.
Miners then compete to solve the puzzle and provide the 64-digit hexadecimal key code that it then has to match with a corresponding ‘nonce’, numbers used only once, to claim the reward for unlocking the block and mine Bitcoins. There’s a small fee for validating the transactions, but the Bitcoin miners are really like the old gold miners and they’re after the big paydays.

Why is Bitcoin mining expensive?

In the old days, Bitcoin mining was easy. Back in 2009, a standard desktop computer could mine up to 200 Bitcoin a day. But speed is everything and Bitcoin mining turned into an arms race as Bitcoin soared and the well-funded miners went to war.
Companies like Bitmain, Bitfury and Vogogo spotted a gap in the market and brought professionalism to the Bitcoin mining industry. The Wild West days fell by the wayside and suddenly a standard computer chip would take 98 years to mine one coin, as the super fast rigs of the new breed simply stomped the casual miner into the dust.
The cryptocurrency mining industry even caused the great computer graphics card drought of 2017-2018 as demand for GPUs literally outstripped supply. Used cards were even selling above sticker price and the shelves in-store were stripped bare, but the big guns were already spending tens of millions of dollars to put these home brew operations out of business.
These aren’t computers anymore, they are mission control centers and the power it takes to keep them running is a serious issue for the company’s bottom line and the environmental lobby.
So the industry is looking for a number of different green crypto mining solutions, that will gel together in some haphazard way to form the future of the cryptocurrency market.
The main obstacles are:

1. A greener algorithm

It may be hard to visualize the blockchain itself, but we don’t need to. Technology almost always gets lighter, smaller and slimmer. The same needs to happen to block production.
Blockchain is middleware and it needs to be slimmed down, without sacrificing security or functionality. That’s an ongoing evolutionary process, as it was with smartphones, and the blockchain we’re using in 20 years will likely have little in common with today’s code.
Proof-of-Stake consensus algorithms have been pitched as one way of reducing crypto’s carbon footprint. Instead of competing for block rewards, producers would take turns, weighted by the size of their stake in the network.
Staking is unlikely to catch on in the Bitcoin community, but it has many supporters with Ethereum as well as other cryptocurrencies.. That would make the whole validation process more efficient and cheap.

2. Cloud-based cryptocurrency mining

There are mining firms that are still investing millions of dollars in physical equipment and taking on all the sunk costs, when the Cloud is simply taking over the world of advanced computing.
Cloud-based cryptocurrency mining companies are already selling packages to the general public and the Cloud offers increased security, speed and essentially a small slice of the world’s computing power, rather than the machines you buy, install and power up. It also potentially offers AI integration that could leave the traditional cryptocurrency miners hopelessly panning for gold in a dead river.
The Cloud has made self-driving cars and robots a reality. It can certainly ramp up the speed of calculations and leave even a multi-million dollar mining rig trailing in its wake.
The switch to Cloud-based mining is good news for the environment, too, as the power demands would move to localities with the cheapest energy. Without these wild spikes in energy consumption and without these concentrated mines, the main complaints about the industry will simply cease to be an issue.

3. Renewable, cheap energy for grand-scale mines

Cloud-based cryptocurrency mining looks like the obvious solution, but it’s the final cost that determines the methodology when it comes to crypto mining and there is more than one way to do this.
Technically, the likes of Elon Musk could turn the arid sub-Saharan scrubland into the biggest and most prosperous cryptocurrency mine in the world with a vast array of solar panels and Tesla PowerPack batteries to keep it running through the night.
Cheap land and free energy means that hardware would be the only major cost to consider in this instance. Alternatively, a State-sponsored mining firm in a smaller nation could easily co-opt hydroelectric or solar providers to work with them to reduce energy costs. Even the ones that use grid power can select the world’s cheapest nations and bulk buy energy in blocks.
Potentially, then, we could still have the grand-scale mines that bring economy of scale and environmentally-friendly energy production to the world of cryptocurrency mining.

4. Brutal consolidation

It does not matter how the industry develops, or if Cloud computing or giant mines are the future, the days of the home cryptocurrency miner are numbered.
Just like the mom and pop mines of the goldrush days gave way to corporate giants with drilling and excavation machinery that made the old pick and shovel look slightly ridiculous, the same will happen in cryptocurrency mining.
Competition will continue to grow, the margins will likely drop even further and the flagrant energy use of today’s cryptocurrency miners simply won’t be an option. Miners that don’t streamline their operations and adopt some form of green crypto mining process will simply run at a loss until they go out of business.
Bil Tai is the Chairman of Hul 8, the North American arm of Bitfury Group and one of the biggest suppliers of cryptocurrency mining equipment of the world. Even he expects just 5-10 giant mining companies to survive the impending cull.
“It’s totally different this year,” he told Bloomberg. “The bitcoin mining industry was this mysterious, dark, cottage industry. It’s about to grow up and scale institutionally.”
There’s a dark side to these tech giants emerging, as they will technically have the power to exert an influence on a coin’s value, not just its creation. That is a problem the industry will have to examine at some point. This simple danger, though, is not enough to turn back the tide of progress.
So, we can expect to see a handful of mining companies dominate the industry as they make the best use of the available technology.

Conclusion: Green Crypto Mining Isn’t An Option: It’s The Only Option

One way or another, the environmental issues that dog the cryptocurrency mining industry are set to disappear.
It will be the free market that drives down that energy usage, rather than regulations and sanctions. The days of the home crypto miner are simply coming to an end, though, as the industry matures and large companies descend and fight for dominance in what could become a $38 billion a year industry by 2025.
That comes with its own set of tradeoffs, especially for philosophical hardliners. Like it or not, a leaner, greener cryptocurrency mining process is just around the corner, and big business is going to create it.
ECOCRYPTO
FOR GREEN CRYPTOCURRENCY MINING
FUTURE OF CRYPTOCURRENCY
DEPENDS ON ECOLOGICAL MINING
"CRYPTOCURRENCY DEPENDS ON ECOLOGICAL MINING"
Donate BTC to support awareness enquiry:
1EaSG3WmY5fRXedhy9tbbJK3tGftKp4sAZ
submitted by yakutami01 to btcgreen [link] [comments]

Looking back, ASICs were bad for Doge.

Dogecoin mining used to be amazing. Miners all over the world building these rigs, connecting to this global network of computers coming together to support this crazy idea of a decentralized/distributed crypto currency based off of a Shiba Inu. Our stupid little dog coin actually had some value, which was enough to fuel this crazy passion of mining. Then the ASICs came. They took dogecoin mining away from the common man. How long has it been since anyone has been able to break even? The only ones who really mine are a few shibes with already outdated ASICs and the big guys. The big guys like GAW and ZEUS. We can no longer profitably mine with off the shelf parts. All of mining is at the mercy of a few corporations and the silicon they develop. We have turned from a global community of miners, to the whims of a big few. I used to be able to roll over in my sleep and hear the noise of my GPU fans, to feel the heat of 100% load. I would chuckle to myself that I was crazy enough to spend my hard earned money and research enough to build this crazy machine to support Doge. Those days have passed. No ASIC on the market for a while now has been able to even suggest breaking even, and No one can recommend buying one. The few corporations we put our trust with ASICs have now actually shifted their focus to cloud mining; Literally opposite in philosophy to decentralized mining. At any moment, your cloud mining provider could take your miner from you, and you couldn't stop them. But what about the x11 coins!? What will happen when ASICs come out for x11 coins, and then x13 coins? The main reason for the creation of litecoin was it was GPU profitable as the Bitcoin ASICs started rolling in. Will we mine and kill every coin on our destructive path of ASICs? Coin mining, to be truly successful as a long term strategy should be feasible with off the shelf computing parts, and not custom silicon thats useless once its outdated.
submitted by ibayibay1 to dogemining [link] [comments]

February is set to be a big month for us. Are we ready? Let's make sure to capitalize on every opportunity.

Hey guys,
I know I'm not really at the forefront of this community or anything, but I figured I'd just get the ball rolling on this conversation.
None of us can anticipate what February will bring, but I think it's reasonable to assume that we'll get at least a small bump of exposure during the Olympics. This is a huge opportunity, and even a 10 second mention could have massive ramifications. I just want to make sure we're all paying attention so that we can capitalize on whatever exposure we get.
I think it might be a good idea to set up an external FAQ website devoted to answering all of the base-level ELI5 type questions. Right now if you google "what is dogecoin," you get the wikipedia article, then a reddit self-post, and then the dogecoin website. And I don't think any of these websites will be terribly helpful to people who don't already know what cryptocurrencies are.
We should have a single website, outside of reddit or anything else, that we can feel reasonably confident that a complete outsider can inform themselves with, and come away with a good base-level understanding of what we're tying to do. I'm talking about people who come in fresh from a fluff piece on the primetime news about this strange internet thing. They're curious because this dog thing apparently did a good thing but they aren't sure exactly what happened. These are people who have heard the word "bitcoin" before but don't understand what that means. People who don't know what reddit is. People who don't know what memes are, and why they have any relevance to something we claim to call a currency.
I think an important aspect of this part of our journey is to remember that not everyone needs to be a miner to help contribute to the success of dogecoin. The more "mainstream" the interest becomes, the more "casual" the interested parties are going to be. Yes, we should always be bringing in more miners, but grandma doesn't have a gaming rig, and she doesn't need one to be a part of something great. With a surge in general exposure like this, we should be encouraging people to acquire, accept and spend coins. Buy them off an exchange, or buy them off a family/friend. Accept them as partial payment for their small business, or just accept them as tips. Explain to people that if you have a small pile of coins in a wallet, they can be used to tip a lot of awesome people on the internet without having to put credit card information into more websites.
In short, the goal for February is not to bring in all of the cryptobuffs with their mining rigs. They're either already here, or they can figure it out on their own. What we're tying to do is convince your uncle that his bakery can accept dogecoin for some small purchases. Convince your sister that tipping internet-based artists with doge is a good thing to do (but ask first before tipping your waiter in doge). Convince your friends that buying goods off the internet with doge supports a community of charity and giving. But most of all, we need to be able to educate the people that don't know anyone who is already involved.
I don't have the acumen to build a good looking website, otherwise I'd probably just donate my time and crank it out. But if I have a skill in this world, it's with the written word[dubious]. I could help write out a big 'ol FAQ and put it all in simple terms, but that's about the extent of my ability.
Thoughts?
submitted by unchow to dogecoin [link] [comments]

MAD Doge - Market Analysis 1/9/2014 (Afternoon Edition) *Mine-mageddon*

This episode of MAD Doge is brought to you by the Shiba Inu, "If you wanted to have a Doge-worthy dog, you should have gotten a Shiba Inu"
This is not going to be a fun topic to cover, since it was bound to happen, and tons of money will be lost.
But enough of the sad talk, let's get to it!

MINE-MAGEDDON! (Such Explosions)

The Bad News

MARKET GENIUS TIME

What do I do?

Booyah!
submitted by DRKMSTR to MADDOGE [link] [comments]

MAD Doge - Market Analysis 1/8/2014 (Evening Edition) TL/DR: STOP MINING!

I've got to be crazy you say? Mining DogeCoin is always Much Profit you say? (Such Bull. Much Graphic)
Well it's not and it wasn't going to be!

Here's Why:

What does this all mean?

Have we lost our faith in Doge?

It's not over:

So, do you want us to cover some new topics, since Doge is not going anywhere fast, we're really scraping for news. As far as previous stuff goes, here's what's happened:

BTW - We do this all for free, so if you like it, let us know. If you can't tip, please add us as your referrer on Cryptsy, it doesn't cost you anything and gives us a cent or two per month. Register Link and Trade Key: 1f6f87957b1800b9d00dbbb56622d24d00825d9d - Copy and paste on your Dashboard @ Cryptsy. Feel free to send us fun artwork too! Oh, and here's some epic artwork from an awesome Shibe - Doge Ram! - BlueBudgieOne MUCH Booyah!
submitted by DRKMSTR to MADDOGE [link] [comments]

The deconstruction of money: Prosperity when wealth ceases to exist

Here's a question to ponder: How do you conjure 300 billion dollar out of thin air? The answer, if you hadn't guessed it yet, is cryptocurrency. People used to laugh at this phenomenon, but they're not laughing anymore. They're feeling the same emotions about this phenomenon that I felt four years ago: They're worried and excited at the same time.
Bitcoin is a first, but not just in one domain. It's a first in most of its defining characteristics. We have witnessed the emergence of a means of exchange whose rate of inflation is predictable. Nobody can create more than 21 million Bitcoin, we can merely find ourselves disagreeing about the definition of a Bitcoin, which is starting to happen.
Despite its scarcity, Bitcoin has no intrinsic value. We're now beginning to discover that this doesn't matter, something most economists and academics had not anticipated. Just as an artist can earn money by shitting in a can, you can earn money by producing virtual currency. What we don't know yet is how far this phenomenon can grow. As of speaking, it gobbles up 0.1% of the world's electricity. As a means of doing anonymous transactions, it's pretty much useless compared to the alternatives that have succeeded Bitcoin.
In the worst case scenario, Bitcoin is like Microsoft or Facebook, in the sense that its network effect and early mover advantage allow it to eliminate all competition. This results in the dystopian scenarios I have frequently discussed before. In a more realistic scenario however, Bitcoin ceases to grow eventually. This makes more sense to me. Consider this: Would you invest in something that has grown in value 100-fold over the past two years? You would probably be wise enough to recognize that other investment options have more growth potential left. If enough people understand this, it becomes a self-fulfilling prophecy. If we assume that people buy Bitcoins to get rich quick, they'll stop buying them when it becomes clear it won't allow them to get rich. As a result, its value will eventually crash.
Note the difference between Bitcoin and Windows here. We're not using Windows because we think it has growth potential. We're using Windows because everyone else uses Windows and thus it's easier for us to communicate. You don't genuinely buy Bitcoin because you want to use it. You buy Bitcoin because you expect others will want to buy it from you at a higher price. To put this in simpler terms: If we use something merely because we expect its use will grow in the future, it can't come to dominate the market it's in.
To own Bitcoin means to forever have a sword of Damocles hanging over your head. You bought it because you expect its value to rise. At the same time, you are aware that it suffers from existential threats: Government intervention, a superior alternative taking over, a rush for the exit that the network can't process, a 51% attack, an unanticipated protocol flaw, an early adapter who wants to cash out. You're willing to take those risks when you expect its value may rise 100-fold. You're no longer willing to take those risks when you expect its value might double in the next ten years. The innate instability of Bitcoin ensures it will forever remain a niche phenomenon.
Here's a question to ponder: Why buy Bitcoin, if you and your friends can invent your own coin that you distribute among yourselves? If I had to choose between entering a country where all the land is owned by a small minority or entering a country where I can still freely stake a claim to my own land, I would choose the latter option. People throughout history have understood this principle, which is why small communities came up with their own currency systems.
The general trend throughout history has been that these alternative currency systems were destroyed by those who felt threatened by them. It's a little known fact that whenever local currencies emerge that seem to replace a government issued currency, governments tend to respond by shutting them down. It happened in Germany in 1931, it happened to the Liberty dollars in the United States and it happens in more situations, when the alternative currency becomes a threat.
Of course, alternative currencies rarely become a genuine threat to the status quo. The reason is because people can generally create new units out of thin air. Whatever institute issues the alternative currency has no means to prohibit you from doing so. Today, we know that this is no longer a valid issue, due to cryptocurrency. As a result, this controlled issuance allows people to interpret alternative currencies as having a genuine value, based on the expectation that they will be able to find someone to sell it to when they feel the need to.
What this means is a fantastic development for those of us who fear the extreme inequality we witness today. The nature of wealth is that it tends to accumulate. Those who are wealthy have the means to become wealthier, whereas those of us without wealth have no such means. Then eventually, when wealth has accumulated to extreme degrees, the elite has found itself in possession of most of the world's fertile land and natural resources. Then, those with their backs against the wall tend to rise up in revolt and exterminate the aristocracy.
Today, after the invention of cryptocurrency, revolutions work differently. When we see that the game is rigged against us, that you own everything there is to own, we cease acknowledging your protocol and set up our own. We don't participate in games that we can't win. We're unable to ignore land ownership, if you cling onto the land, you risk ending up beneath the guillotine. We're perfectly able however, to stop pretending that a Bitcoin is something more than a series of ones and zeros in a digital database. This outcome is already unfolding. Why is Bitcoin losing its dominant position in the ecosystem? Because people realize that the game is rigged against them. Most people are simply not dumb enough to spend 10,000 dollar to buy one bitcoin. Smart people look for other opportunities.
How does a revolution look? Consider what happened a few weeks ago, when Bitcoin ended up clogged and a competing protocol, Bitcoin Cash, suddenly grew enormously in value. This revolution was prematurely aborted, but the underlying issues have not been addressed. Bitcoin is still bumping up against its transaction capacity, wealth is still monopolized in the hands of a shrinking group, a single Bitcoin still has an intimidatingly high value to all but a small group of wealthy people who have no intention to actually use the currency. As a result, hedge-fund managers and trust fund kids are now buying first class tickets to board the Titanic.
Understand the following principle: The unequal distribution of a currency undermines its use value. A currency owned by a small group of wealthy people is subject to dramatic price fluctuations. The stock market suffered a sudden dramatic collapse in 1929, during an era when wealth inequality was at its most extreme. The reason is simple. If the distribution of an asset is extreme in its inequality, it becomes impossible to estimate the fair value of the asset.
This is the problem that Bitcoin inevitably suffers. The wealth inequality of Bitcoin increases over time, as hackers are able to steal Bitcoins, while those who find themselves wealthy all of a sudden tend to exit the scheme. As this unequal distribution grows worse, the instability of Bitcoin grows worse too. Economists have long known that wealth inequality and speculative bubbles go hand in hand. We see high prices right now for Bitcoin, but this is merely because nobody wants to exit at the moment. As soon as people want to leave the scheme, they'll find it's simply not possible at current prices. I expect that Bitcoin could see its price drop by 90% or more, over a period of days. People will find themselves unable to leave the scheme during such a period, because the transaction capacity on the network is limited.
When Bitcoin falls apart, people will see that the underlying technology has more genuine potential than this particular faulty implementation. As a result, another redistribution of wealth will take place. One important thing to understand is that currencies gain value because of broad use. Broad use is accomplished, by broad distribution. In its early days, everyone could mine bitcoins and everyone could use faucets where they were handed out for free. As a result, a core community emerged.
Note that the broad distribution that creates value does not have to contradict the unequal distribution that creates its high price. Value and price are not always well correlated. In regards to Bitcoin however, the more important point is that the currency grew in price by inheriting both characteristics: It's widely distributed, but most of the coins are actually held by a small minority. This small minority thus has a lot of wealth, on paper. They won't be able to actualize their wealth, if they tried to cash out the value of Bitcoin would take a plunge.
You will find that Bitcoin's role as a speculative bubble will be replaced by various competing technologies, but its role as a digital currency will be replaced by currencies that are broadly distributed. As an example of how this will work in the future, consider Clams. Clams are a digital currency with an egalitarian and wide distribution. Anyone who owned a range of currencies ended up owning Clams. This has proved to be free money, for people who paid attention. The project was abandoned by its developer, but it demonstrated the way forward for others. There are now various Bitcoin forks, that hand out their coins to entire swathes of the population, while handing out extra coins to its own developers. Those developers do end up profiting off their invention, simply because the wide distribution creates interest in the coin.
In contrast to what you might think, these various new currencies don't have to die out. In contrast to offline currencies, digital currencies can be extremely easily exchanged for one another. Merchants are able to accept coins they have never heard of for products they sell, simply because the underlying infrastructure is managed for them by third parties. So, what credible reason do people have to put their trust entirely in Bitcoin? The answer is simple: None. The herd has discovered Bitcoin, but the herd will consume it and bring about its demise, as the protocol can't scale.
But what if I'm wrong? What if Bitcoin can scale? Well, the answer to that question is simple: Bitcoin can't scale. A form of Bitcoin that can scale ceases to be Bitcoin. Bitcoin is characterized by 1 MB blocks, which limits transaction capacity to 3 transactions per second, which is a fraction of what credit card companies can handle per second. If Bitcoin increases its block size, a new currency comes into existence, that needs new software and would leave users who fail to update their software at risk of losing their coins. What about off-chain scaling? Off-chain scaling requires settlement on the 1 MB blockchain. As a result, those who plan to develop off-chain scaling methods admit that Bitcoin would need 133 MB blocks, simply to accomplish the goals they have set for it. The system can't function under those conditions.
What happens if Bitcoin does somehow develop off-chain scaling and starts to use 133 Mb blocks? The energy needed to mine Bitcoins increases dramatically. As a result, the number of people who can mine Bitcoin goes down, mining Bitcoin will only be an option for people in places with dramatically low energy prices. In addition, governments would be unlikely to accept having 90% of their national electricity use be devoted to mining Bitcoins. A currency that requires solving pointless computer problems to distribute it is a currency that remains forever a niche phenomenon. There will be no consensus around how to change the protocol, it will endlessly fracture until it renders itself obsolete.
Important to understand is that cryptocurrencies don't allow you to hold onto extreme wealth. Consider Bitcoin. In its early days, there were plenty of smart people who saw its potential. But if you're a billionaire, how would you use a currency worth less than your own net worth, to increase your own wealth? The answer is that you can't. Small projects grow the most, but small projects can't fit your wealth inside of them. The effect this has is that the extremely unequal global distribution of wealth we witness today will be rectified. The habit that extreme wealth has is that it doesn't survive dramatic changes to the status quo.
Until a few years ago, Bitcoin was the domain of basement dwelling NEETs and angry libertarian gun-nuts. But what we can do, anyone can do. If you live in a community that suffers poverty, you can set up your own currency that you use among each other and by virtue of the fact that you use it, it grows in value. What we have done with Bitcoin, has been done by other people too. If you don't think you can win under our rules, you change the rules and play your own game. There are now numerous currencies out there that have given birth to anonymous millionaires, while many more like me have made smaller fortunes.
As I have mentioned before, technology is a self-limiting phenomenon. Technology in its most advanced stages consumes its own niche and as a result leaves us off without the technology. With self-driving cars, the car starts to die out. With lab-grown meat, meat dies out. The Internet, destroyed the concept of possession. Why should I buy a car, if it idles 95% of the time? Why should I visit a hotel, if people can rent out their room to me? Why should I own a book, if the information I seek is accessible under my fingertips? Why should I even own anything? In Sillicon Valley, digital nomads live without any genuine possessions, other than a smartphone, a laptop and the clothing they wear.
What has remained off-limits so far, is the concept of wealth itself. The idea of wealth has survived the digital transition, even as everything else has been rendered obsolete. This is now coming to an end. We live in an era, where the concept of wealth is being deconstructed. One important principle in this observation is the issue of scarcity. Things have value, because demand for them is higher than their supply. In Estonia, Latvia and Lithuania, houses are practically for sale for free, because the population has declined by a quarter since the fall of the Soviet Union. How can physical space have a price when there is more of it than anyone needs? It can't. It can only have a price when a small elite is allowed to keep it off limits to the rest of us, without making use of it themselves.
But now, we face the finalization of the deconstruction of wealth. What does it mean to own anything? How can anything have value, if it is not scarce? Are you still wealthy, if your wealth must remain a secret? If you can't flaunt the fact that you're a millionaire, you can't genuinely be thought of as rich. Cryptomillionaires are men who have wealth they can't genuinely use. Under those conditions, the illusion of power begins to die. We see today that money is a joke. You can print money in your parents' basement and people will treat it as genuine money. The next step is the recognition that wealth is a joke. The society we are entering is one where wealth loses its relevance, until it eventually can't be defined. The very concept itself is ceasing to make sense. It is a nightmare we imposed upon ourselves and now we will no longer believe in it.
The history of civilization is the exchange of wealth for fertility. The man accumulates resources, passes those on to his male descendants and the men monopolize young women to disproportionately pass on their own genes to the next generation. This became possible, when the concept of ownership became possible. There exists no inequality, among hunter-gatherers who have no ability to press a claim to resources. In primitive communities where everyone lives near a river dense with fish, some men end up claiming "ownership" over the river and soon enough we witness hereditary castes, monarchs and inherited wealth. In the Kalahari desert, where people depend on animals that run around and Mongongo nuts that can be consumed, there is no property, as there is nothing to claim ownership over. You might claim ownership over a plot of desert, sure, but how will you enforce it? You can't and thus everyone is equal.
The concept of wealth had a nice run. It survived from the Neolithic revolution until the digital revolution, when it was rendered obsolete. It transformed young sturdy women with bows in their hands and hair on their legs into airbrushed trophy wives who sell their bodies to the highest bidders. What we know as a human being today is entirely corrupted by thousands of years of civilization, during which a corrupt aristocracy disproportionately passed on its genes and turned life itself into a cynical pursuit of material wealth. Today we are saying farewell to them.
Have you ever thought about what we are leaving behind us? In a society where social status is inherited, like in India, you eventually end up with hereditary underclasses who are made to carry around leaking baskets with human excrement on their heads. Alexandra Kollontai became a Marxist after her aristocratic parents prohibited her from marrying a man she met at university, an engineering student of modest means. In the society we are giving birth to, everyone is free to pursue his deepest passions and to make use of his full potential, with no noble birthright standing in between him and his vision.
Does this sound absurd to you? Over the top? Ridiculously optimistic? Well consider this: We have already gotten rid of the aristocracy. Western civilization used to be ruled by a hereditary caste that had complete control over society. The mechanization of agriculture in the 19th century and the abolition of the corn laws led to the demise of the aristocracies. The status quo could simply not be maintained. The concept of a republic, a nation not ruled by a king, was once utterly absurd. Books about the future written in the 18th century, like Samuel Madden's "Memoirs of the Twentieth Century", feature tall tales about religious theocracies in Italy and absolute monarchies in France. What none of them anticipated is that the kind of authoritarian systems they were familiar with could not sustain itself under modern conditions. It seemed as absurd to them that people could be ruled by anything other than inbred aristocrats, as it seems to you when I suggest to you that the concept of wealth itself is in the process of being rendered obsolete.
Eventually we will develop a form of society, where money and financial transactions themselves are an outdated nuisance, an inefficiency. Consider this: You're traveling by train and find out that you don't have a public transport card. As a result, the automated gates that stay closed unless you check in with a card won't open for you. You're hesitant to jump over them, because a camera records anyone who tries to sneak in. You walk to a machine that allows you to buy a card, then you charge the card with money and check in at the gates before entering the train.
Upon entering the train, you notice a man walks around who is tasked with ensuring that everyone bought a card. This is his job, his raison d'être. After the train arrives at its destination, you walk out, forget to check out and hurry back home, here you realize that you forgot to check out and money was automatically deducted from your account. You call the train company, wait ten minutes before someone picks up the phone and ask the lady on the other side of the line to send back the money that was excessively deducted from your card because you failed to check out. Does this sound like an efficient society to you?
Consider a simple fact: In most of Western civilization, we house the homeless and provide them medical care because it's cheaper than to have emaciated people wander around in shopping malls who scare off the tourists, steal bicycles and spread tuberculosis. People find themselves wealthier, by sharing some of their wealth with those who are worst off. It's a more efficient manner of running society, that happens to be in everyone's best interest. Economic inequality, is an economic inefficiency. We live in a non-zero sum game. That is, our current situation is unoptimal, the economy as a whole can benefit from having less economic inequality.
Now hear another plain fact: Your society punitively taxes your income, because you're not benefiting society by working a lot. If you work a 9 to 5 job, as most of us do, you get up, leave your house, get stuck in traffic, sit for 8 hours, which ensures chronic health problems down the line, then head back home during rush hour again. The reason you end up with a similar amount of money if you worked 32 hours, is because it happens to be in everyone's benefit. If you worked eight hours less every week, long-term unemployment would be prevented, because more people would be able to participate in the labor market. You would be able to pick up your kids from school, rather than sending them to daycare. Unless you're a genius, nobody benefits from you "working hard". That's why you're not earning more money from it.
So now you have to ask yourself another question: If society doesn't benefit from your "work", then it's time for you to plan ahead for a future in which it renders your work obsolete. What will you do with your life, when the rat race comes to a stop? What will you do, if the neighbor who watches TV for fourteen hours a day ends up driving the same kind of car as you? If you can't spend your time "getting ahead", then what will you do with your life? That's a question that I want you to ponder.
"Life will lose its meaning" You might say. But that's what all weak men believe who can't think outside of the paradigm they were born into. I live in a society where we no longer fight trench wars with neighboring countries or build colonial empires. My life doesn't feel less meaningful as a consequence. I live in a society where I'm not encouraged to go out and fight in defense of some fundamentalist cult. My life does not feel less meaningful. If I won't have to work to sustain myself, I will quite readily find the means to make my life meaningful. If anything, it would become easier for me to have a meaningful life.
There's always something that can be done. We don't get to it, because we're forced to earn a living for ourselves. All geniuses begin their career with an excessive amount of free time. How could Darwin come up with the theory of evolution? Because he was free to visit the Galapagos islands. Why do we have seaweed that tastes like bacon in the supermarket here in the Netherlands? Because a guy had it served on his platter while he was on vacation abroad. Steve Jobs spent his twenties sleeping on people's floors, smoking pot, dropping acid and visiting guru's in India. People are not creative when they have hoops held in front of them. Innovation happens when people are left free to fool around.
Most people are passionate about something. Even white working class men in early 20th century Western Europe who worked in factories had pigeons they trained and bred for races. When people have free time and more resources than they need to sustain themselves, wonderful things are produced. Those who think we need to be kept busy, have insufficient faith in man's ability to find meaning for himself. If people are nurtered well and treated with kindness, they are able to blossom and begin to improve the world they inhabit.
If people turn into television addicted zombies when their chains are removed, it is because they were left injured by society. Dogs used for medical experiments who have their cages opened are hesitant to step out onto the green grass too. I prefer to look at the examples I know, of people who do understand how to deal with this transition. I think back to a woman I knew, who was granted a small fortune because she survived a plane crash unscathed. She travels across Europe in an old Volkswagen van with her boyfriend, I ran into her at a party held by her friends at a squatted countryside manor. She dances in the night and loves without hesitation and her eyes radiate pure joy. It is clear to me that most people are not ready for the transformations that are upon us. They don't want to live at the end of history. They want to head back to what they knew. But at the end of the day, what you are looking at is nothing to be afraid of. It's just green grass.
submitted by moresourdough to accountt1234 [link] [comments]

Ideas, suggestions, etc., going forward. My take...

Hi all.. I bought some Vert last week and I'm excited to be a small part of what's happening. It's interesting seeing this develop before our eyes. I thought I'd chime in with my two cents. I'm also a member of the Dogecoin community and I'd like to see Vertcoin become as popular, even moreso. Here are my thoughts on what is needed going forward:
I'm not a miner or developer, so I don't think like one. I buy coins, not mine them. I think it's important to get the opinions of people that would potentially be using Vertcoin for everyday transactions. Apologies, but most people here are thinking like miners and developers. We certainly need such talk (and, of course, development) but our conversations should not be dominated by that kind of thinking if we have a long-term vision.
You don't want Vertcoin to be the choice of miners alone but not the choice of everyday users. The kind of answer you get from 10 miners will be different than the answer you get from 10 potential users, so be careful about how responses are weighed. That's what makes the Dogecoin community so unique, and I think the main reason why it's growing so fast. It's just people building something great.. not just measuring hash rates and setting up rigs. They are using the currency.
Organization: The first thing we need is a way to get organized. A subreddit doesn't do the job. We need a way to organize tasks and manage time. To see what other people are doing and to see what needs to be done. This should be something like Zoho where we can not only post tasks with due dates (and penalties for being late) but also create help desk tickets for bugs.
Put people in work groups. It doesn't mean they're helping each other out. It just means that I am familiar with what you're working on and make sure you're not late. If you are behind schedule then I provide some social pressure and maybe ask someone else to help. This makes everyone more accountable.
A way for people outside to connect. Let's take a step beyond what is expected with a coin and really connect with people on different levels. The vertcoin website should be the main portal to the vert world. How about a toll-free number and support email prominently displayed? Most people won't call.. but it instills trust and gives the impression that you're here to stay. It's $5 a month. Putting an email address at the header also makes people feel secure.. to be able to contact someone if they have questions. And how about the ability for them to easily open a support ticket in case they have questions? (This could be handled by multiple people)
Branding. What is needed immediately is to decide on the brand for Vertcoin. Personally, I would say this is the most important thing. This includes everything from what to call a unit of the coin to what the Vert story is.
-Units of Vertcoin. I really don't think "voin" will work. Yes, it's cool by itself but you would confuse the average person. It's too masculine, also. If it's vertcoin then there's only 1 logical choice: verts. It's short, simple, and it sounds like something they already know.
-The story. Learn from Dogecoin. Why is Dogecoin so successful? Because it is the first coin the creates an emotional connection with people, and makes the difficult seem easy. We need a way to do both. How to emotionally connect? Stories. What is the story of Vertcoin? How are we going to connect with basic emotional needs? Bitcoin? Story. Litecoin.. not really. Dogecoin? Story.. And Vertcoin? No story yet.
The story could be a re-hash of the parts of the Bitcoin story that have worked for it. What makes Bitcoin interesting to the average person? What do people care about? Bitcoin means freedom. Ok, so the story of Vertcoin is we're building a system to make you financially free. We are your heros and you can help us help you!
I would suggest the following: 1) develop a mascot that looks like Astroboy.. Young, cute, big eyes, friendly-looking, with clean light pastel colors. Put him in a little astronaut suit. He is from planet Vert and here to save the world with vert coins! He will save the world by saving jobs and making you richer. The financial system needs to be fixed. Vertcoin is the one to do it. Give him a personality. He is allergic to bullshit and sneezes when he hears it. And he likes to dance.
Vop (our hero) is the star of YouTube videos, explaining to people how Verts work. Make a Vop suit and stick somebody in it. Walk him around shopping malls, busy streets, and such. When kids pay attention to something their parents will, too. (They have no choice.. this is how you start a conversation with the adults)
Vop likes to dance. He can't stop dancing because he is so happy. (Yes.. it sounds stupid. So does putting a silly dog on a coin. It doesn't matter what you think. It only matters what is effective.)
Mining for everyday people Why can't mining be make into a game for the average person? How fun would it be for Edna to play a game like Farmville and mine "real internet money"? Wouldn't that be addictive?
Yes, Vertcoin is anti-asic.. but nearly 100% of the population doesn't care The average person doesn't care about ASICs (or even know what they are). We have got to move technical speak out of the Vertcoin vernacular if we want to really connect with people. What does Vertcoin mean to the average person? People care about jobs, money, security... What can Vertcoin do about this? (Much of this is what cryptocurrency can do about it.. in this way we are making people associate these neat features with Vertcoin.. So instead of distinguishing Vertcoin from Bitcoin we are equating "the new money" with Vertcoin.
Marketing There's no need to pay for marketing. You can get it for free if you have a good story. Why spend $4,000 on a single advertisement when we can polish the story of Vert in order to get it for free? Then we can use our money more productively.
Also, hit Bitcoin where it hurts. "Bitcoin is bad for the environment" (too much energy required.. here is our solution.. That is something people can get.)
Giveaways to Public Give Verts away for free to the public. Send people to a website whose sole purpose is to give Vert away for free. Make it fun and exciting. A person goes to the website, enters their mobile number and an SMS is sent to it with a code. The person enters the code and 0.1 vert is sent to their online wallet. (For this, we'd need to set up donations)
Make wallets fun Why do wallets have to be boring? Why can't I skin my wallet. Why don't I hear anything when new funds come into it. Why not make wallets fun and make Verts collectible.. If I have 100 verts then I move up to the gold level. Make collecting and using Verts into a game.
Logo: Nevermind what you like. Think about what the average person likes. A simple, clean logo is best. The current logo ideas are too complicated. A person should be able to visually understand what it is in milliseconds. The subreddit background shouldn't be complicated, either. Test the logos with everyday people who know nothing of cryptocurrency.
These are just a few ideas. I don't want to go on longer so I'll stop here. Let me know your thoughts.
tl;dr: shame on you! lol
submitted by pauldowin to vertcoin [link] [comments]

I took the plunge - 2x 7970's on their way for potential rig - I have no idea what I'm doing - Help appreciated!

So since this past Spring break, my brother in his all powerful insider knowledge on this strange thing named BitCoins introduced me to this bandwagon. I've since joined in and bought all I could muster with the funds in my bank without ruining myself and have thus far reaped a beautiful profit that my wife deems pleasant. This is, of course, something EXTRAORDINARY. Ahem. So I decided to wager my trust I've earned with her with said investment, and have decided to use a few more funds to build a mini miner. Obviously this won't be the mega tank that you see all over Youtube, Just a simple machine that may have the potential of 1.6GH/s is my hope.
So this is what I've bought so far:
Total thus far after Rebates & Selling Games: ~$1300 USD
Estimated 1.6GH/s with profits beginning in ~85 days (Before crash, of course XD - Now who knows!)
Great thing is if all this goes kaput, I'll at least be able to resell it all! :D
I have a monitor around for initial setup, and all the other obvious peripherals. What I am in need of are some tips or links in setting these 2 guys up. I'm somewhat new to Building a PCI-E Rig, but I'm sure its just as simple as plugging it all in, which I've done countless times before. I know that if I'm on Linux I won't need any dummy plugs for the DVI outputs on the other cards for it to be recognized by the OS. Can it be run purely all on a USB drive? That's one thing I'm a little unsure of.
Mostly my questions consist of:
I don't care much for people bantering about how difficult it is now to mine, or how ineffective this might be, I've read my share about that. I plan on just having this run in the corner of my little apartment for a few months while I go to school/work/walk the dog/etc... I would like tips or any insider info on other fellow 7970'ers on how to maximize my performance with these two cards at my disposal. And of course those who do help me in my time of need and once it's all beautiful and vampiric-sparkly like will get Brownie Points in the afterlife.
Last computer I built was back in 2004 so that I could play Half Life 2. And I was on a budget back then too. So I'm not too savvy with all this new cooling hardware and techniques as I've never had to deal with things that exceeded 4x AGP.
I'll post pictures and videos of all the fun I have with this adventure :D
Update
Thus far I have only received my two 7970's and boy do they look beastly. I've never held a card that manly before.
2nd Update
Everything came in! Goodness it's difficult to do a headless Linux Box! for sake of time, I think I'm just going to buy a cheap sata harddrive.
3rd Update
So here's the final photo of it running with 2xx7970's
I'm still waiting for the riser cables to come in to mount the other 3 cards.
I haven't uploaded the videos of me building it all just yet (btw I sucked at putting it all together XD)
submitted by TheSchlooper to BitcoinMining [link] [comments]

MAD Doge - Market Analysis 2/9/2014 (Edition Edition) Sochi n' Such

Let's fly right into this:

Updates:

Market Trend

The Free Market

Ready? Okay, let's get started

Cool down

Upcoming Topics

Hopefully I can cram all that into this week, we're planning on posting once a day except for Thursday.
Keep it classy shibes, SHIBE ON!
TLDR: Too Much Regulation Sucks.
submitted by DRKMSTR to MADDOGE [link] [comments]

You either die a hero, or live long enough to see yourself become the villain.

I posted a thread here this morning, and the responses I got have me so baffled I had to share. You may not know me, I'm one of over 70,000 shibes here now, but I was here with you from near the beginning. I wasn't part of the launch or even the first few weeks, I didn't know much about cryptos back then, only enough to point my gaming computer's graphics card at litecoin because a friend said it was free money. This sub, you shibes, you got me interested in this. You got me involved in cryptos. I've spent a good deal of time building and tweaking rigs, helping people build and tweak theirs in /dogemining, posting here and involving myself all over the crypto world.
I don't care about the money that much, I'd love to have more but who wouldn't? What really drew me in was the community. It was a feeling I hadn't had since the early days of playing World of Warcraft, that super helpful spirit, people being generally nice. A bubble, a simple and naive notion that given the right circumstances, people will be nice for the sake of being nice.
If I may take a trip down memory lane, you may recall this community tipping in /litecoin and /bitcoin, and being shunned and angrily downvoted by a group too serious to have any fun. We said, "this is what makes us different! We may not have any superior coding or super developers but we'll never become that. We're going to be the easy road to entry to cryptos. Everyone who comes here will have a warm welcome, we don't downvote, we don't judge, we're just having fun, because how can you be serious about a coin based on a cute meme dog?"
I took my thread from earlier this morning, and have done nothing to it other than replace "dogecoin" with "litecoin", and the altcoin which shall remain nameless with "dogecoin" (I've changed a few coin-specific references to references befitting the coin to which they apply, but have not altered the spirit of any comment, names have been x'd out, I'm not trying to call anyone out). The result is a group of response we swore we would never type, saying things we said we'd never say, and a thread that looks like it belongs in /litecoin, 3 months ago. Here are a few of my favorites, below.
Title: Out of respect for this sub, I'm asking opinions before I do this.
Submitted by GPrime2 to Litecoin
I've been mining and supporting Litecoin since shortly after its inception, in fact this crypto is what got me so hooked on them in the first place. So to that end, I wanted to make a quick post and ask my fellow litecoiners their opinion on this before I do it, the last thing I want is to be disrespectful.
Recently I've become involved in another crypto, Dogecoin, and have become hooked by a community that is fun, lighthearted, not taking itself too seriously. I'm trying to get the word out that it exists, and have considered taking out an ad on this sub. I believe that both currencies can happily coexist, since the main focus of Dogecoin is to become a microtransaction currency, however I wanted to ask your opinions before I take out such an ad, since as I said the last thing I want to do is disrespect the community that got me hooked on cryptos in the first place. Feedback is welcome, or just downvote this into the ground and I'll take the hint. Thanks!
Replies (in order of upvotes, as usual)
xxxxxx 4 points 7 hours ago Dogecoin created on the back of a super popular meme, so someone thought they would create a Alt coin due to the hype... and thats the important word here HYPE. It will go up a little, then fall out of the sky like it had just been got with a bullet. One thing is for sure, you will wish you had stuck with Litecoin. And a lesson for all, choose carefully or you will end up spending lots of time and money on lots of different alts only for them to be worth nothing.
[–]xxxxxx gamer shibe 1 point 2 hours ago A 1000x this, Doge is trying to cash in on the hype created by the doge meme. I really wouldn't want another coin like this for game transactions. Litecoin is perfect right now for games and doesn't have "cash grab" written all over it.
[–]xxxxxx 3 points 7 hours ago No disrespect, but you are not diversifying, your diffusing, adding entropy, contributing to the slow death of both alts. This idea of diversifying in coins right now is a very large misconception. Diversity assumes independent assets. Alt coins are not independent. All alts' success right now are tied to Bitcoin, and many are also tied to Litecoin as it's the model they wish to emulate. Yet, unlike all other alts, Litecoin is leading with respect to innovation and attracting new users. If you want to support your assets, support Litecoin. You can do that by mining Dogecoin (because we have too much surplus in LTC anyway - for the moment), and use Doge to buy Litecoin (adding to the demand of your more promising asset, Litecoin). In the end, you get the best of both worlds.
[–]xxxxxx of many hats 0 points 6 hours ago Get your users elsewhere.
Scary how quickly things change, isn't it?
submitted by GPrime2 to dogecoin [link] [comments]

[uncensored-r/CryptoCurrency] My Analysis/predictions of a bunch of Cryptos

The following post by AnotherAceTeeHummR34 is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ CryptoCurrency/comments/7bziin
The original post's content was as follows:
I have been in crypto technically for 2+ years but, since last spring gotten very into it. Here is my opinion on a bunch of coins. I know I don't know everything about crypto, but I also know nobody (except maybe Satoshi) can say for sure how this will play out. Here's my analysis(half-assed bullshit guesses). Yea I'm very bullish.
BTC The king. I think it has the best likelihood of mass adoption. Wales want to see liquidity before they jump in. But more importantly they want to see big marketcap. They don't want to be a huge % of a market and not be able to pull out if it drops. I think there will be a tipping point in the near future where all of a sudden major financial companies start to pour in investments and millionares/billionares dump tons of money in. Wales are what takes us to 50-100k per coin. Also at a critical mass of marketcap the stigma of "betting on bitcoin" will turn to "putting it in bitcoin". Still too early to call a winner, but once they dive in it might be too late for other coins to top it. The tech that is massively adopted is not always the best. Yea there are fees, but it is still better than a wire transfer.
Jan 1 2018: 12050 April 1 2018: 16800
ETH Very strong. Accurately valued imo. I think it might go down a bit in the next year or so to 280 and stay, but I also think it will only take a few very successful Dapps for it to explode. Good leader too. I think the move to POS is great and I think the people behind it are very dedicated and pumped.
Jan 1 2018: 310 April 1 2018: 750
LTC- solid coin. Stability and a good leader. It could become the silver to the gold. I see it continuing to be very high volume.
Jan 1 2018: 72 April 1 2018: 105
BCC- No idea.
XRP- maybe great for a short term gain but I see major problems for it long term. I know a lot of people here don't like it because they think it's centralized but that's not why I don't like it. To me the problem is that for the "product" they offer to banks they can easily face competition and lose. There are already other coins that do similar things.
Jan 1 2018: .23 April 1 2018: .40
NEM Cool idea. I really like their coin and PoI. I think this coin has a chance of being massively adopted. The only problem is that they don't market much and don't get hype going. If they saw another big 20% burst I think they would snowball and more people would look up what they were about. They have small volume which isn't good, but I think it is because those who are in it see it as the best tech.
Jan 1 2018: .25 April 1 2018: .85
NEO Another coin that could be massively adopted. I don't see it going down too much anytime soon. After all the China FUD it only took a small hit and is still in the top 10. If China endorses it or has some kind of statement that can be interpreted as pro NEO I think it will explode. I like their model and how gas works with the POS. You can't go wrong with this one.
Jan 1 2018: 42 April 1 2018: 115
DASH- PIVX is better in EVERY way.
IOTA- I think many can agree that this is the biggest question mark. I think it is the riskiest coin, but also potentially could see the most incredible gains. If the ball starts rolling with this and if they every get to the point where they can remove the coordinator I think it's lights out. GG. The question imo is can they get to that point while still being relevant and while people still believe in them. They have to get many people using the coin before they can get to that point.
Jan 1 2018: .62 April 1 2018: 1.8
XMR (monero) Awesome coin. Honestly I think this the safest bet. It has one of the most passionate communities and a good visible leader who understands his role is replaceable. The fungibility factor is SOOOOOO under valued and I wish more coins took this part more seriously. I like that there is no rich list. This coin seems to 2x all the time. The community has the "ask not what Monero can do for you but what you can do for Monero vibe"
Jan 1 2018: 195 April 1 2018: 405
QTUM, OMG, CARDANO all seem solid, but I haven't looked into them enough.
Bitconneeeeeeeeeeeect Not feelin it.
Jan 1 2018: 380 April 1 2018: .380
LISK- I think Lisk is awesome and will pop up to 12 by spring. JS is one of the most popular languages and its users are growing. At the end of the day it's the developer that makes widespread adoption. The easier it is for them to make apps for the block chain, the faster people can adopt it. DPOS imo is pretty cool. The people behind it seem really motivated and imo they have a cool logo and easy to remember name.
Jan 1 2018: 8.14 April 1 2018: 14.01
ARK I'm not gonna pretend to understand how smart bridges work, but I think they will go up. Their team seems professional and passionate and I like DPOS.
Jan 1 2018: 3.01 April 1 2018: 7.22
ZCASH Better off with XMR or PIVX. The tweet their boss gave was pretty telling. I have a bad vibe about them.
Stellar lumens IDK. Seems a lot like ripple
Jan 1 2018: .09 April 1 2018: .112
Stratis Better off with LISK or NEM imo
Jan 1 2018: 6.11 April 1 2018: 7.18
EOS I don't really understand this coin yet
MonaCoin Japan's coin. I think NEM is better because I like their POI and the fact they have been around longer. I don't think a coin can win off just strong patriotism/nationalism unless it is directly/officially endorsed by their gov't or issued (doubt that will happen)
Jan 1 2018: 4.42 April 1 2018: 6.44
PIVX Great coin. Their dev team sets targets and hits them. ZEROCOIN + super fast transactions are hard to beat. One of the most ideal coins with a community that's very passionate.
Jan 1 2018: 4.12 April 1 2018: 10.87
Decred One of the best long term coins. They have a good team and one of the smartest roadmaps. If crypto ever gets to maximal adoption you are basically talking about universal self governance and decred has a lot of foresight with their voting system. The down sides are that it's kinda complex and a lot to read though. New comers to crypto already have enough on their plate.
Jan 1 2018: 39.55 April 1 2018: 58.86
Steem Cool idea. I don't think its going away. At the same time I wouldn't buy this unless you like using the platform
Jan 1 2018: 1.02 April 1 2018: 3.31
Augur /Gnosis cool ideas. I see more competition coming for them. The draft kings and predictit markets are already huge. it's just a matter of showing the base how to use the platform
Jan 1 2018: 21.05 April 1 2018: 38.07 Jan 1 2018: 75.33 April 1 2018: 80.60
Binance I think this will pop up. Binance already has some of the lowest fees and BNB is functional already.
Jan 1 2018: 4.22 April 1 2018: 8.64
Vertcoin/Grostle I think people think because it's asic resistant it's more decentralized, but I think that's only is true in early stages. If it catches on people will figure how to rig many GPUs together and mine that way. I think they will be pumped and dumped again. I think they are the new DGB VTC: Jan 1 2018: 8.94 April 1 2018: 10.20
Populous/tenx Haven't looked into it enough but have heard good things
Salt I think Salt is a great. I think they might face more competition later, but if they can be stable and reliable, people will use their services and the price will keep going up.
Jan 1 2018: 5.44 April 1 2018: 10.91
Golem Big gamble. One coin that has tremendous upside(10x) but could also fade into obscurity. It faces a lot of competition but it seems like given it's niche function it has a strong following. The Devs for this I think are good. This is a very ambitious project. Who knows maybe 1 day a super AI will run on it.
Jan 1 2018: .34 April 1 2018: .81
Factom/Civic Great ideas. I really hope one of them becomes widely accepted/adopted. FCT
Jan 1 2018: 22.47 April 1 2018: 10.87
BAT Another great idea. I hope it does well. I like trying out new browsers
Sia/Storage I think these could moon but you will have to wait a while. I like Sia a bit better.
Sia > 1 dollar 2019
ZEN/VERG/ZCOIN Great on privacy. I'm not as big on POW and I think MONERO might have too much of a head start but these coins are unique. It's still early for any of them to become top dog
Byteballs cool Idea. I like IOTA better. Raiblocks might be better than both. but they are small and not on many exchanges. And as you can tell from the quality of this post I am too lazy to sign up for some new exchange right now.
Why so Bullish? You already know Where should ppl put money? Banks... almost no interest. If they raise interest rates they could crash the market. Either way $ will be printed in mass. Bonds..... terrible rates give me a break Stocks..... Market will probably go up but could crash any time. Not as liquid as crypto (I can't buy a computer with stock on robinhood). The whole point of stocks used to be owning a part of a company and having a say. That part of the value of a stock is long gone and dilluted with these mega corps and everyone just hopes for capital gains. We all know where to go for gains. gold/silver... maybe. Crypto... Sky is the limit. It will soak up all the money that people hide, new money from the young kids in tech sectors, old money who ...
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

TL;DR The Dogecoin News

Hear hear the first issue of The Dogecoin News is out!
The week has barely reached half way and much has already happened! Welcome to the Dogecoin News!
The MtGox leaked document was "kind of true", Engadget reports; stunning many Shibe in the process. One shibe said: "I cannot believe it, I was sure it was all fake!".
On another note; A Shibe has set up a mining rig in the bedroom in hopes of coaxing his dear one into some sweet loving.
Also the dogecoin seem to be spreading as a loving grandfather and father attempts to surprise their youngest with a dogecoin present! A random Shibe cried a tear of joy and called the action "adorable". Much joy was had.
The weather man reports: WOOF! Much happiness, "it didn't seem like he cared about the weather at all! I tipped him 20 doge, because that was hilarious."
On a more serious note it seems many Shibe's rally to help saddened Bitcoin users was misinterpreted as trolling. We apologize, the Shibe's didn't troll, they were dogging. It was well meant, much sorry.
Speaking of coins our economy expert came with a surprising expert evaluation: "Much amaze! 1 Doge is still 1 Doge!", he said. I couldn't believe my floppy ears as it filled my ear holes. He also came with sage advise: "Remember! Always back up your wallets!".
And as as always thanks for reading!
submitted by AWetAndFloppyNoodle to dogecoin [link] [comments]

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Raspberry Pi 4 Bitcoin Mining For 24 Hours! - YouTube

The virtual goldrush to mine Bitcoin and other cryptocurrencies leads us to Central Washington state where a Bitcoin mine generates roughly $70,000 a day min... This video is unavailable. Watch Queue Queue. Watch Queue Queue →Description Mine dogecoins! →Instructions Left mouse button to mine, buy items/upgrades Right mouse button to drop items Background Music: Dog and Pony Show... What do you need to mine one Bitcoin BTC coin in 2020? Let's review Bitcoin mining profitability and what BTC mining rigs you would need to mine an entire co... Just a week update on my profit with my 6 gpu zcash miner. Also going over future projects and ideas.

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