bitcoin cash

BITCOIN CASH – THE RISE OF A CRYPTOCOIN

To understand where Bitcoin Cash (BCH) came from, you need to first understand what a fork is. A fork is when software splits into two, meaning the original system will continue while a new fork, a duplicate one, will be created.

The creation of BCH was the result of a fork from the original Bitcoin. All the users that had owned Bitcoin found themselves with Bitcoin Cash as well. This fork, and the fact that users held the coin from the very beginning, added value to the new coin. As I write these lines, Bitcoin Cash value is more than 300$.

Others say the newly created coin is a spinoff of Bitcoin, a clone like many other coins before.

Some exchange platforms, such as Coinbase, announced they would not support the newly created coin. The company urged users who wanted the new coin to switch to a different exchange platform.

On August 1, right before the fork, Bitcoin was trading at 2759$. By the end of the first two weeks, the value has been over 4000$. Bitcoin Cash, however, was hovering around 250$-300$ and the future is unknown and unpredictable for the new coin.

BCH might survive all this, but it is probable to drop below 100$. It’s currently trading around 200-300$, but the price inflation is due to the fact that many exchange platforms are refusing to accept deposits. And in the meanwhile, the Bitcoin Cash blockchain is not functioning correctly. While Bitcoin process a new blockchain every 10 minutes, Bitcoin Cash defines with one hour creation time and up to 13 hours delay occasionally. These delays and the fact that Bitcoin exchange platforms are unwilling to support the new coin makes it harder for Bitcoin Cash holders to sell and may prevent the value from continue dropping so fast.

top cryptocurrency

FIVE TOP CRYPTOCURRENCY TO LOOKOUT

Bitcoin has been trading over 16,000 USD. And it stays as the king of market capitalization. Also, it’s hard not to say the whales have been all around in the price manipulations with massive financial resources. Let us check the top cryptocurrency you need to look out for here.

Moreover, investment banks are actively working on the potential uses of blockchain tech, and are trying to build products for the Cryptocurrency trading.

Being said that, we think some other Altcoins would domineer the Cryptocurrency market alongside Bitcoin, and we list them here.

Top Cryptocurrency List

IOTA

This blockchain solution is tailor-made for the Internet of things. Also, enables no fee transactions. An entirely different blockchain called Tangle (Directed Acyclic Graph) without a mining reward model.

Recently, the price of IOTA coin increased over fourfold (Over 400%). And it’s not going to stop there for sure.

Ripple (XRP)

A payment network majorly used by financial institutions for faster transactional settlement with confirmations times under five seconds.

The price used to be stable at 0.21 USD. And it had a massive growth with the trading price at 0.7 USD.

Bitcoin Gold (BTG)

Everybody laughed at this project which is a hard fork of Bitcoin. And many thought it would become an absolute trash.

Guess What?

The BTG ranked 8th in terms of Market Capitalization. A huge success.

Bitcoin Cash (BCH)

Born out of the debate to increase the Bitcoin blocksize, the Bitcoin cash has continuously been working to bring down the transactional costs with better blocksize limiting.

It saw a hard time as it has the same mining algorithm with Bitcoin. And out of it with a recent protocol upgrade.

Monero (XMR)

When it comes down to the privacy and anonymity, Monero smashes the deck hard. And it had always been speculated as a top 10 Cryptocurrency.

XMR is also on the upward trend alongside with Bitcoin. And it is no brainer to buy them in bulk.

Finally, Please let us know your thoughts and any other currencies you think has potential to make into this list of top cryptocurrency.

bitcoin faucet

BITCOIN FAUCET – FREE BITCOIN FOR ALL

Just after Bitcoin started gaining some name, a new trend began – Bitcoin Faucets. In Bitcoin Faucet, every user is entitled to free Bitcoins every few minutes or few hours, depending on the site.

This free Bitcoins comes as a reward for spending the time to click a button once in a while. Those Bitcoin faucets websites give you free money hoping you will generate some income while clicking an ad, or even just viewing one. It sounds like a win-win situation, and it is it.

For example, I have just signed up with MoonBitcoin to show you guys how much money can you make with one of the best rewarding faucets out there (of course you can always sign up to 20 of those and make more money). On registering to the website I have received the astonishing amount of 59 Satoshi (0.0000059 BTC), I clicked claim and the money transferred to my account quickly. This sum is worth 0.0045$ not a satisfying pay.

Next, I can try to claim money every few hours to see how much it generates, so according to their website: “The faucet will gradually fill up – quite quickly initially, but it will slow down over time – until you make a claim. So the longer you leave it, the more you will be able to claim.”, it means I need to wait a few hours to see how much can I generate in the long run.

I made that calculation fast with just doubling the amount I have got after the first 30 minutes (image below).

Moon Bitcoin Faucet

29 Satoshi * 2 (1 hour) = 58 Satoshi * 24 (1 day) = 1392 Satoshi * 7 (1 week) = 9744 Satoshi = 0.0009744BTC = 4.52$ In 1 week.

Keep in mind those sums should slow down and probably be less than I calculated.

In conclusion, While it is impossible to earn an honest pay from those faucets it is possible to generate free Bitcoins and start your Bitcoin adventure slowly. You can signup to MoonBitcoin here, and let me know in the comments if you want me to recommend a few other Bitcoin Faucet.

bitcoin price - askdogecoin

THE BITCOIN BREAKS $11,000 MARK

November month has been all dramatic for Bitcoin enthusiasts. The SegWit2x was off the road. The Bitcoin Gold, stared as a joke nobody cared much, has racked up the charts with the 5th place in terms of Market Capitalization.

Another hard fork has been announced and named as Bitcoin Ruby.

What’s going on? We have no clue.

Bitcoin Price Movement

Earlier this month, the BTC price was 7430 USD and plunged to 6118 USD. Again the rate rose above $7700 the following week. By the end of November, the price just broke 10,000 USD which is phenomenal.

It did not stop there and went on breaking 11,000 USD before World AIDS Day.

Michael Novogratz, a former Fortress hedge fund manager, predicts that BTC will attain 40,000 USD by the end of 2018.

Elements Pushing the Price

Chicago Mercantile Exchange (CME) announced it would launch Bitcoin futures soon. The BTC value surged more than 50% after the news came out on the CME’s decision on October 31.

Also, the free money concept created by the hard forks like Bitcoin Gold and Bitcoin Cash has also fueled the price.

Some of the best Investment banks like Morgan Stanley are tapping on to understand and implement blockchain tech.

Nowadays only a few people deny that Cryptocurrencies are not revolutionary. It shows that day-by-day blockchains are becoming stronger and highly reliable.

Even though there are glitches and issues, people are not backing off trading Cryptocurrencies.

The Future

Not only BTC, but all other top currencies saw tremendous value growth which indicates much broader adoption. Given that, the fear of missing out (FOMO) is also playing a significant role.

Many people say this wave is just a baby storm. Some others speculate it could be a bubble but only time can answer that.

Be cautious before investing. Understanding the basics of Cryptocurrencies is very important before stepping on. Otherwise, you could burn yourself.

bitgrail - askdogecoin

BITGRAIL EXCHANGE – SUFFERS $132 MILLION THEFT

The exchange BitGrail has lost 17 Million Nano coins on February 8, 2018. And the coins were worth 187 million USD at the time the exchange has managed to discover the theft. The Cryptocurrency was known as RaiBlocks (XRB) before rebranding at the end of January 2018.

The Blame

The Nano has released an update, and the BitGrail wasn’t able to adjust to that. And the exchange has worked with the Nano developers to solve the issue. It was at this time the theft happened.

The exchange could not identify the theft sooner due to timestamp manipulation, i.e., showing wrong times for the transactions.

Firano, the CEO of BitGrail, at first, pinned the blame on the Nano development team, saying that the fraud was due to double spending problem associated with the code.

But the development team responded sharply and said there was no problem with the blockchain. And the exchange was solely responsible for the lost funds.

Later, Firano had asked the Nano team to plan a hard fork for the blockchain at a point before the theft happened so that it would help the exchange to retrieve back the funds.

The development team denied the request and said there was no issue with the blockchain. And the Firano must take the responsibility of the issue entirely.

The BitGrail Stories

Some stories are floating around which aren’t one hundred percent confirmed. And they can’t be dismissed either.

One such is, the exchange has been struggling to release the user funds since late last year. And many accused the exchange a scam.

Also, the exchange was moving the funds to other exchanges when it suspended user withdrawals. Moreover, some think that the funds were not stolen from the exchange hot wallet. Instead, it was from a cold storage wallet, which the BitGrail failed to secure.

Conclusion

Whatever the security risks, thefts, and scam are, it is best to trade on well-established Cryptocurrency exchanges. And even you do so; there is no guarantee your funds are still secure though. If you’re using a highly reputed exchange platform, you might at least get partial compensation for the losses.

cryptocurrency highlights - askdogecoin

CRYPTOCURRENCY HIGHLIGHTS FOR JANUARY 2018

Some of the best cryptocurrency highlights for January 2018 were: Stripe ends Bitcoin support, Johann Jungwirth Joins IOTA’s Supervisory Board and Banks and CoinBase lost interest with XRP tokens.

Stripe Ends Bitcoin Support

It couldn’t be worse for Bitcoin even when Lightning Network is under testing. Stripe, in a blog post, announced that it would end their support for Bitcoin as a payment method. And the complete transition by April 23, 2018.

Stripe’s Product Manager Tom Karlo claims the reason Stripe ends Bitcoin support is: increasing transaction fees, long settlement times and transaction failures as some reasons why Bitcoin was becoming unattractive to their merchants.

Despite this disassociation from Bitcoin, Stripe remained optimistic about cryptocurrencies in general. Also said they might integrate Lumens, a cryptocurrency on the Stellar Platform, if there is wide adoption and use.

Johann Jungwirth Joins IOTA’s Supervisory Board

Even in the face of the current price erosion, IOTA remains an exciting project. It is still in nascent stage. But its underlying technology is progressively moving closer towards setting a certain standard that could potentially define a machine to machine transactions. It is no wonder that companies are taking notice. In January, an announcement made that Johann Jungwirth, Volkswagen’s Chief Digital Officer and President of Mercedes-Benz Research will be joining IOTA’s Supervisory board.

The board meets regularly. And it is mandated to draft IOTA’s roadmap, approve annual budgets and setting of different procedures within the organization.

Well, this development helps rubber stamp blockchain technology. And hopefully, his valuable experience in driving digital transformation at Volkswagen will help the IOTA. And might play crucial role as they push forward with their scaling agenda.

Banks and CoinBase uninterested with XRP tokens

Early January, CoinBase also rested some rumors that seem to suggest that the company was planning on offering support for more digital currencies including Ripple (XRP). XRP reacted by dipping 20%, and the sliver of bad news didn’t stop there.

The decline continued after news emerged that most banks are interested in a decentralized and interconnected ledger network which RippleNet offers. But not with Ripple native tokens, XRP. Statistically, 30 of the 150 global banks that signed up are now actively using the technology. And this is a step in the right direction for Ripple, the company.

However, for Ripple to grow, banks need to start using XRP in global fund transfers. And this report pours cold water on any expectation of token appreciation. It is likely that transition will take much longer, in the tune of years, before Ripple and XRP reach their full potential and such is not suitable for most investors desirous of short-term capital gains.

south korea cryptocurrency trading - askdogecoin

SOUTH KOREA REGULATE CRYPTOCURRENCY TRADING

How it all started

With cryptocurrency trading showing a tremendous increase in the last couple of years, many South Korean traders have been asking questions about how the Government would regulate cryptocurrency trading.

In South Korea, the currency exchange rates are about 43% higher than the exchange rates in other countries. The market conditions, i.e., demand and supply have favored the hike in the prices. Even the biggest cryptocurrency price indexer CoinMarketCap has excluded the Korean cryptocurrency from the main indices as it would hamper the estimates.

The exchanges primarily go for the native currency ‘South Korean Won’ for exchange purposes. In fact, the big markets like Singapore, Hong Kong, and South Korea are well ahead as they provide the profits with minimum risks. The South Korean currency exchange BitThumb has been biased towards Zcash rather than trading Bitcoins and Ether.

How far have crimes against crypto trading gone?

Earlier, cryptocurrency was not regulated by the government authorities that led to illegal trading and investments. The exchange crimes have amounted to approximately 637.5 billion dollars. In addition to this, government agencies have seized 1.7 billion dollars of illicit money from dozens of residents who kept digital currency hidden in electric wallets.

Measures took by South Korean Government to regulate cryptocurrency trading

Financial governing agencies are administering the economy by implementing new rules and regulations. Recently, the government banned the entry of foreign investors to trade cryptocurrency via exchanges. The ‘anonymity’ clause doesn't apply anymore to the transactions. And now all individuals, organizations, and business enterprises will have to register their names with full proof identification.

The authorities have defined even the transaction limits. And several restrictions applied to the settlement services provided by the South Korean enterprises. All the measures are effective into consideration to prevent the economy from corruption and money laundering.

It is not wholly prohibiting the investors and organizations to trade in cryptocurrency. Instead, the nation is trying to make the process more transparent and accountable. Thus, it is right to say that South Korea’s leading step to carry on with the cryptocurrency trading is an appreciated move. The government taking action to regulate cryptocurrencies can assure that their intention is not to ban cryptocurrencies in South Korea as some have expected.

genesis-mining askdogecoin

genesis-mining.com

Genesis Mining was founded at the end of 2013. Firstly, it was created as a platform where users can buy and sell bitcoins. As the company grew with its user base, new mining farms were built, and the company started investing more and more into developing the cryptocurrency cloud mining farms.

History

“The company was formed after the three founding partners realized there was a need for a legitimate cloud mining provider in an industry full of fraudulent companies.[4] From there they set out to offer cloud mining services to active users and new mainstream users. Genesis Mining launched in February of 2014.”

Over time with the adoption of new cryptocurrencies Genesis mining started offering services like dogecoin mining online, litecoin mining online, monero mining online, and many other altcoin cloud mining services.

Genesis mining is running a successful mining service that delivers great results for all the miners. while some other companies failed to create a brand, genesis mining with better mining contracts than other companies.

since I have seen some allegations against genesis mining, I decided to open an account myself and started mining with their dogecoin cloud mining service, I paid with dogecoin for the service, and they kept delivering their payments to me on time. For me, it was the best cloud mining experience from all other companies.

“We had quite a few users who have paid significantly too little. We then decided to let all orders go through. This was why there were some delays. ” – Marco Streng

dogecoin cloud mining

eobot.com

Exchange Bitcoin and Cryptocurrency

Eobot.com, started working in 2013 and it is located in the United States.
The Eobot is a real-time exchange like binance or bitfinex, but they also operate a cryptocurrency cloud mining services like Dash Cloud mining, Golem cloud Mining, Dogecoin cloud mining, and many others. Since eoboto.com is also an exchange you can easily withdraw your coins in any preferable cryptocurrency and also it adds to the trustworthy of their services.

Crptocurrency Cloud Mining made easy

Not only that eobot is very easy to setup and start mining one of many coins, it also has a free faucet, true it is not like a free dogecoin cloud mining, but it is as close as it gets.

Supporting Countless Coins

They are now supporting Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin, Ripple, Dash, Golem, Cardano, CureCoin, NEM, Monero, Zcash, Factom, Bytecoin, STEEM, Lisk, EOS, USD, Gridcoin, and Ethereum Classic and many more to come.

Free Trial Crytocurrency cloud mining

True enough that it does not hold a free trial for the miner, but if you signup to the faucet, and collect payments for a few days, you would be able to start mining with only 10$ a month!

Why choose Eobot?

Over 2022619 users and growing everyday!


mining rig rentals

miningrigrentals.com

Mining Rig Rentals service was built in a different way than most mining companies, it was built by the community, and for the community of miners. Mining Rig Rentals operate since early 2014 and allow users to use cloud services like: Dogecoin Cloud Mining, dash cloud mining, Peercoin cloud mining, and many others.

The owners describe themselves as “the eHarmony of the mining community”. The company is listed their address as New York City on their Twitter page. However aside from this, there is no other information about who’s behind the company.

While they operate with some secrecy, Mining Rig Rentals has been up and running for over 4 years now, which gives them some credibility in this competitive cloud mining business.

It also has gained some followers for allowing mining on cryptocoins that are less mainstream, the Dogecoin Cloud mining service is not provided by most common cloud mining services.