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LongWaited A Cryptocurrency Beginner’s Guide to Altcoins!
Welcome to the exciting (and sometimes confusing) world of virtual currency. Alternative cryptocurrencies, like Bitcoin, have revolutionized the way we think about money ever since Bitcoin lead the way for the first wave of cryptocurrencies. https://preview.redd.it/w885i70z8cj31.png?width=982&format=png&auto=webp&s=1967f8ac45eb297dff080428da086f0891d549a4 At one point, Bitcoin was the only cryptocurrency around, and now, there are thousands. Bitcoin has become the leader that other altcoins follow and remains the most widely accepted virtual currency to date. Whether you are a financial wizard or average person, anyone can join the cryptocurrency game. The key to understanding and exceling at cryptocurrency is knowledge. Each of the following cryptocurrencies attempt to improve on existing technological solutions. Cryptocurrencies can fulfill many functions, and they aim to work on issues ranging from storing medical data to providing anonymous financial transactions. Many provide a decentralized network allowing efficient anonymous transactions, and in addition, there are Virtual Private Networks (VPNs) that can help ensure security. What are Cryptocurrencies? A cryptocurrency is a form of digital currency that comes as a “coin” or “token”. They are largely intangible and were originally designed to be free of a central regulatory authority, like a bank or government agency. At first, it was criticized by the traditional finance industry, but now many are embracing blockchain technology. Cryptography uses mathematical equations to ensure that the tokens are securely created, stored, and transferred. Anonymity and decentralization are the key components to most cryptocurrencies, and this is why the cryptocurrency world continues to grow in popularity.
Types of Altcoins:
Bcash (BCH) Bcash originated out of an early hard fork of bitcoin. A fork is when developers and miners of a cryptocurrency disagree on the cryptocurrency’s mining and transaction process, and when this occurs, the currency “splits”. Some developers and investors will choose to follow the original code while others will support the currency’s new “update”. As a result of such a fork, Bcash launched in 2017. BCH was created to increase the scalability of Bitcoin from one megabyte to eight megabytes which allows for larger transactions. It also removed the Segregated Witness protocol that is used in Bitcoin, which limited the block space available for transactions. Ethereum (ETH) Founded in 2015, Ethereum is one of the giants that followed Bitcoin. Ethereum is a decentralized platform that allows you to execute smart contracts and build applications, and you can essentially build other cryptocurrencies off the Ethereum platform. Its token is known as ether, and ether is used by other developers to run their own applications or as a token to buy other cryptocurrencies. In 2014, Ethereum had its first official presale. This was essentially the first initial coin offering (ICO), and these are now a popular source of funding within the industry. After 2016, Ethereum was split into Ethereum (ETH) and Ethereum Classic (ETC), and it is still one of the most valuable coins on the crypto-market space. Zcash (ZEC) Launched in 2016, Zcash is based on a decentralized and open-sourced platform. Zcash prides itself on its ability to ensure privacy and transparency during each of its transactions, and it claims it is the “https” of the crypto world. Essentially, it is added privacy to already pre-existing crypto-transactions. They even offer an added feature of “shielded” transactions, which allow for further crypto-security. Zcash developers came up with an innovation called zk-SNARK, and this revolutionized the way cryptography is used to secure crypto transactions. Dash (DASH) Dash is a more private form of bitcoin and comes with features like DarkSend and InstantX that provide added support to protect anonymous transactions. It was originally known as Darkcoin and was renamed Dash in 2015. Dash allows you to make nearly untraceable transactions. It offers stronger anonymity than most cryptocurrencies and is based on a decentralized network. Founded in 2014, it was founded by Evan Duffield and quickly gained popularity among crypto-enthusiasts and investors. It differs from other coins in that it can be mined with either a GPU or CPU. Ripple (XRP) Founded in 2012, Ripple aims to work as a global network of low-cost payment transactions. XRP works to allow banks and individuals to make international payments at low costs while ensuring a high level of transparency. You cannot mine ripple which helps reduces latency issues. It also decreases the need for high computing strength that some other coins need for mining. Many popular banks have already adapted Ripple technology for cross-border payments because it is the most popular cryptocurrency for traditional investors. Traditional investors understand ripple’s utility as an efficient method of cross-border transactions. Neo (NEO) Originally known as Antshares, Neo was founded in 2014. Called the “Chinese Ethereum”, it is the largest Chinese cryptocurrency. It utilizes smart contracts in a similar way to ETH. Neo owes much of its success to its ability to support multiple programming languages on its platform. EOS (EOS) Launched in June 2018, EOS is one of the newer currencies, and it was created by a well-known mind in the blockchain world, Dan Larimer. Before starting EOS, Larimer started and popularized Steemit which is a popular social media site that was founded on blockchain technology. EOS is founded on the same platform as Ethereum. During their ICO, EOS was able to generate close to $4 billion in funding, which is one of the highest recorded. Its proof-of-stake system aims to provide more scalability than other currencies. Also, EOS differs in that there is no mining. To replace the need for miners, block producers are rewarded in tokens depending on their rate of production. Cardano (ADA) In 2017, Cardano was founded by a co-founder of Ethereum. Carles Hoskinson hoped to combine the benefits of Ethereum as well as fulfill several other functions. ADA looks to solve the issues that come with other digital tokens by focusing on interoperability. They also hope to solve problems of scale. ADA has the ability to make financial transactions in mere seconds, when before it could take days, and this is an added benefit to those in the cryptocurrency industry. Monero (XMR) Designed to be an anonymous currency, XMR is focused on security and privacy. It was one of the older altcoins to become fully established after being founded in 2014. Unlike other virtual currencies, monero’s funding is completely dependent on grassroots community funding. XMR utilizes a rather unique technique known as “ring signatures”. With ring signatures, transactions using XMR have added anonymity. A group of cryptographic signatures will appear with each transaction, but only one of which is the “real” one. They all seem as if they were completely valid, which provides more security, and for people seeking private transactions, this is a draw to use the form of XMR for cryptocurrency. Litecoin (LTC) One of the more well-known altcoins, Litecoin has been around since its founding in 2011. Its founder, Charlie Lee, formerly worked as a Google engineer and is a well-respected figure in the blockchain-sphere. LTC is open-source and utilizes scrypt as proof-of-work. Litecoin is very similar to Bitcoin but works much faster, and it can generate blocks quicker and can confirm transactions at a higher rate. Litecoin has been adopted and endorsed by banking companies around the world because of the benefits it offers to users. Original Blog Post Link: https://torguard.net/blog/a-cryptocurrency-beginners-guide-to-altcoins/
Just learned about Dash after your recent gains in the market cap. I'm very interested in Dash coming from Bitcoin, as I think there probably will not be a consensus on the scaling issue anytime soon. Looking at the governance model, what prevents Dash from evolving into an ecosystem where a handful of centralized masternode pools take control? Wouldn't that be a big problem?
My mostly-impartial take on the top 20 coins on CoinMarketCap
Backstory: I have a friend who is becoming interested in cryptocoins, and I decided to write about a sentence to share what I know about the top 20 coins on Coinmarketcap. As for my knowledge: I've been obsessive about crypto since 2010, but I've taken some time off out of irritation with the soured bitcoin community (I did take a side in the debate for awhile, now I'm disgusted with the entire community). Everything below is recollection and opinion. Much of my knowledge is greater than two or three months old, except for Augur, which I still follow closely. Please - read along and feel free to berate me. 1 Bitcoin - Bitcoin is the oldest cryptocurrency, and the coin with the most adoption. Despite the high market cap, it is bending under it's own weight. The core developers and the miners have scary agendas. Bitcoin is likely to survive and thrive, but not because of anything the community has done to help it. 2 Ethereum - Ethereum isn't technically intended as currency, but some see it as bitcoin 2.0 because it extends the basic blockchain ledger idea. Because Ethereum has a turing complete scripting language built into it, it is more susceptible to new attacks and will need to be substantilly hardened for years to come. The development team is led by Vitalik Buterin, a young genius. Ethereum is generally seen as having a strong development team and a lot of future potential, especially in managing sub-tokens and smart contracts like Augur and Digix. 3 Ripple - Ripple is poorly regarded by many seasonsed cryptocurrency users - many (including myself) do not regard it as a cryptocurrency, but as a general scam. Note that Ripple has low market volume and few privacy protections. 4 Litecoin - Litecoin was the second cryptocurrency to be developed (after bitcoin in 2012) and it is currently traded in China because the developer base is Chinese. Litecoin is literally a bitcoin clone with two modifications. It has potential for speculation, but is not generally used in the US. 5 Monero - Monero is the strongest privacy-centric coin. It uses a novel blockchain solution called ring-signatures that forces mixing for every transaction. Monero took a long time to catch on because of the absence of a GUI wallet. A GUI wallet was recently released. Monero got a recent pump by being the primary currency of Alphabay - instead of bitcoin. (Personal note: I sold all of my monero and I regret it now. Please PM me seed phrases containing coins!) :P 6 Ethereum Classic - Ethereum Classic is quite literally a "grudge coin". Some ethereum users were upset when an Ethereum Contract (The DAO) was rolled back by the Ethereum team, and they revolted by remaining on the old Ethereum fork - the fork that did not roll back the DAO. Many users also see this as a part of the bitcoin hardfork argument because it seems apparent that those who do not want to fork bitcoin to raise the blocksize limit are staging a protest to demonstrate how badly things can go if a coin is forked. 7 Dash - Dash is a very interesting fork of bitcoin with several neat features and a very aggressive development roadmap. Dash is the most prominent coin to pay nodes for obfuscating transactions. People who hold 1000 dash can run a masternode and support darksend transactions while receiving dash in return. This has been very positive for dash in the long run because it makes the token worth hoarding. Dash also has a anonymous transaction solution that has had some scrutiny from the crypto community because of suggestions that one person (government) hosting many masternodes could deobfuscate transactions. 8 MaidSafeCoin - MadeSafeCoin is one of several tokens designed to foster decentralized cloud based data storage. MaidSafe has been in existence for a very long time but only really got traction when the cryptocurrency revolution started. MaidSafe's primary competitor is Storj, though, the last time I checked, both teams deny they're competing. 9 Augur - Augur is a decentralized prediction market platform that is currently in alpha development. The token (Reputation) was released several months ago by users hoping for a quick product launch, but they were disappointed and many sold, leaving the token very cheap. All indications are that the development team is being careful and meticulous to release a working product and avoid something similar to the DAO fiasco. If Augur Reputation is successful, holders of the token will receive regular payouts for reporting on the correct outcome of prediction markets. 10 Steem - Steem is a token-incentivized discussion board, sort of similar to reddit or quora. The basic gist (I believe) is that users reward other users with tokens for submitting worthwhile content. This is probably over-simplified and wrong 11 NEM - I am not familiar with NEM. 12 Iconomi - I am not familiar with Iconomi 13 Dogecoin - Dogecoin started as a meme based on the Shiba Inus dog breed, it was originally a litecoin clone that gained tremendous community traction based on the concept of doing good and sharing good will. The token was widely dismissed, though it has maintained some usefulness. 14 Factom - Factom is a project that verifies the legitimacy of information and databases by stamping/hashing the data in the factom chain. This insures data integrity and could allow proof of ownership, proof of invention, proof of accurate records, etc. Factom was a big deal when it was launhed, but as with many other tokens it doesn't have the same luster as investors have moved on to other tokens, despite the inherent usefulness. 15 Waves - I hold some Waves and I don't even know what it is right now. 16 Stellar Lumens - I don't recall what Stellar is at this moment. 17 DigixDAO - Digix is intended to serve as digital gold. The concept is that the maintainers of digix will hold literal gold reserves in a vault equal to the issuance of tokens. There are regular audits, and demonstrable proof of assets. People who depend on literal assets tend to like the knowledge that their asset is tied to a physical asset, but others feel like this totally misses the point of scarcely created cryptocoins (i.e. bitcoin). 18 Zcash - Zcash is a new privacy-centered cryptocoin. Much hyped. 19 Lisk - Lisk is an ethereum clone, similar to what Ethereum Classic has become. I consider it in the same league as Litecoin to Bitcoin. 20 GameCredits - Something, Something, something, get paid for playing games and exchange game credits with other gamers.
GoByte - MasterNode Coin GoByte (GBX) is a cryptocurrency based on Dash aimed at vendors to provide monetary services . GoByte features the masternode technology, which provides to the network near-instant and secure payments as well as anonymous transactions. The near-instant payments known as InstantSend technology, average at 1.3 seconds per transaction. The anonymous transactions known as PrivateSend technology, mix your funds trough the masternodes network, making near-impossible to trace back the origin of the funds. GoByte Network is a modular network based on the blockchain technology. The GoByte's modules are developed independently yet, they all have the same blockchain as a core, and work all together to create a fast and secure network. Thanks to the modular structure of the GoByte's Network, modules can be updated independently without causing errors or issues with other modules. Our developers are working tirelessly on bringing new and innovative modules to be merged later with the other modules of the network. Every module is developed by its own team lead by a Senior Developer, this way we offer to our developers a clean canvas to be filled by their own imagination. The first and biggest module of the GoByte Network is the "Pay" module, which acts as a payment gateway, central bank and cold wallet at the same time. The "Pay" module is the network's center support, working directly on the blockchain, being able to create and execute transactions which will later be confirmed by the masternodes and miners. Our project is not aiming to build the blockchain around the existing economy. We are aiming to create a new economy around the blockchain. The first step into building the GoByte Network economy is by providing liquidity and ways to acquire GBX coins. Therefore, a part of our current development team which has past experience into building, developing and maintaining bank ATMs that are currently being actively used around the word, have decided to build and develop our own ATMs and POS Terminals along with Card Reads and more. All of those devices will be directly linked to the GoByte Pay module which will attribute to the customers an identity and act as a central bank of the entire economic system. Allowing you to deposit, withdraw, perform payments, loan GBX coins, link or request GoByte Pay Debit/Credit cards to use with our ATMs, POS Terminals or CardReaders. In order to create a self-sustaining economical system, GoByte had implemented the Governance feature, currently found in Dash and more other cryptocurrencies. The governance feature allows to the masternode holders to vote, fund or reject proposals submitted by the community, from event sponsorships to acts of charity or developer bounties. By funding projects, the community can sustain the media/events appearance and even the development, without the reliance of a central development team. Specifications ◆ Algorithm NeoScrypt ◆ Block time 150 seconds ◆ Block Reward 15 GBX decreasing by ~15% every year ◆ Estimate Supply 31.8 Milllion ◆ Required 1000 GBX for Masternode ◆ Masternode 50-80% Block Reward ◆ Superior Difficulty Retargeting Using Dark Gravity Wave ◆ Superior Transaction Anonymity Using PrivateSend ◆ Difficulty retargets using Dark Gravity Wave ◆ 2.7% Premine*
GoByte, has a premine of only 2.7% that will be used only and only for airdrops, bounties, exchanges, and future projects like the Web Wallet, Android/IOS Wallets and much more.
Masternodes help keep integrity of network and enable support for Darksend and instant send. You need 1000 GBX to setup a masternode and start to earn rewards. RoadMap Roadmap GoByte Blockchain Start ◆ Launch Website (Done) ◆ Window, Mac and Linux Wallet Release (Done) Get listed on Exchanges ◆ CoinsMarket — Completed ◆ Stock.Exchange — Completed ◆ CoinsExchange — Completed ◆ Cryptopia — Completed ◆ CryptoBridge — Completed ◆ HitBTC — Completed ◆ TradeSatoshi — Planned ◆ Upbit — Planned ◆ Kucoin — Planned ===[Q4 2017]=== ◆ Genesis Block and initial launch — Completed ○ Announcement on BitcoinTalk.com since block 2 — 17 Nov 2017 ◆ Website Release — Completed ◆ Windows, Mac OS, Linux Wallets Release — Completed ◆ Listing on first 4 small/medium sized exchanges — Completed ○ CoinsMarkets.com — 18 Nov 2017 ○ Stocks.Exchange — 19 Nov 2017 ○ Cryptopia.co.nz — 22 Nov 2017 ○ CoinExchange.io — 04 Dec 2017 ◆ Listing on useful Crypto websites — Completed ○ CoinMarketCap.com — 20 Nov 2017 ○ Masternodes.Online — 21 Nov 2017 ○ CryptoCompare.com — 22 Nov 2017 ○ CoinGecko.com — 26 Nov 2017 ○ CoinRanking.com — 04 Dec 2017 ○ CoinHodler.io — 04 Dec 2017 ○ Masternode.Pro — 05 Dec 2017 ○ WhatToMine.com — 02 Jan 2018 ===[Q2 2018]=== ◆ Listing on decentralized exchanges [2/2] — Completed ○ BarterDEX — 05 Jan 2018 ○ Crypto-Bridge.org — 29 Jan 2018 ◆ Web Wallet — Completed. (integrated into "Pay" module) ◆ Android App — Under Dev. ○ Coinomi Multiwallet — 05 Jan 2018 ◆ IOS App — Under Dev. ◆ WhitePaper & Translation — Completed ◆ Dev. of "Pay" module — Under Dev. ◆ "Pay" module mobile apps — Under Dev. ◆ Listing on another 3 medium/big sized exchanges — Completed ○ HitBTC — 16 Apr 2018 ○ CoinSwitch — 04 May 2018 ○ IndaCoin Exchange — 17 May 2018 ===[Q4 2018]=== ◆ Electronics Shop — Planned ◆ Starting the development of the "Market" module — Planned ◆ Atomic Swaps/Exchange — Reconsidering ◆ Marketing and Awareness campaign — Under Revision ◆ Hiring PR team — Under Revision ◆ Attract Merchants — Constant ===[Q1 2019]=== ◆ Start dev. of POS Terminals — Planned ◆ Testing GBX payments on vending machines — Planned ◆ Starting development of the "Overwatch" module — Planned ◆ Starting development of the "Mint" module — Planned ◆ Start building cloud mining farm. Share profits among MasterNode owners — Planned ◆ Hardware wallets for GoByte tokens — Planned ◆ Attract Merchants — Constant ===[Q3 2019]=== ◆ Smart Contracts — Reconsidering ◆ Starting development of the "Social" platform — Planned ◆ Founding or Partnering with an academy for "GoByte Academy" — Planned ◆ Founding the "Blockchain Innovation of the Year" event with prizes — Planned ◆ Attract Merchants — Constant ===[Future]=== ◆ AI that maps data and cryptographs it into a blockchain ?? — Future ◆ Quantum Ressistance ?? — Future ◆ New Algo ?? — Future ◆ Moving to DAG ?? — Future Downloadshttps://github.com/gobytecoin/gobyte/releases/download/v0.12.1.3/GoByte_0.12.1.3_Windows64.ziphttps://github.com/gobytecoin/gobyte/releases/download/v0.12.1.3/GoByte_0.12.1.3_Windows32.ziphttps://drive.google.com/file/d/17lQ24gft63gC1ZZcljghau6LKTEmU4Sn/viewhttps://github.com/gobytecoin/gobyte/archive/v0.12.1.3.tar.gz Websitehttps://gobyte.network/
BTG is in top 10 in CoinMarket Cap! Here is why it should be in the top 5.
How I see the top 10 currencies on CoinMarketCap.com
1 Bitcoin is the number one cryptocurrency, with all the hype and all the press. I do not see any coin overtaking it in the near future. Probably never.
Bitcoin Gold IS better than bitcoin in MANY ways.
A) Bitcoin Gold allows for GPU mining on people’s home computers and it is ASIC resistant, which makes for a more decentralized coin. (One of the founding principles of bitcoin, which has fallen by the wayside with Chinese asic (such as BITMAIN) controlling most of the mining market and allowing it to pull all sorts of shenanigans. B) Bitcoin transactions have become slooooooooow! (Bitcoin GOLD is much faster) C) Bitcoin transactions are PRICEY! You can't even send someone $10 worth of bitcoin because the fees would eat the entire transaction. This is why STEAM dropped bitcoin. The fees have become ridiculously high (see miners controlling the market above as to reasons for this) Bitcoin Gold has lower fees. D) The network for bitcoin can be VERY unstable. Whenever Bitmain wants to move the miners over to it's own fraud coin, bitcoin cash, they slow the market and delay transactions. This should be seen for what it is: an ATTACK on bitcoin. With all that said, bitcoin still carries on and the price continues to climb! It remains #1 in marketcap.
2 in marketcap is Etherium. People love to remind you that Microsoft is backing Etherium. Yeah, but guess what. Etherium's network is an absolute mess!!
Hundreds of millions of coins have been lost because of a "bug". WOW. The 44billion dollar Ether network was brought to its knees by Crypto Kittie, a digital cat child’s app that uses Etherium contracts to trade digital pussies. Etherium shouldn't be number 2. Not until they can create a stable network. Who knows what will bring it down next? Digital dogs?
3 Bitcoin Cash. This currency is a fraud. It merely exists to allow Bitmain to use asic boost, to give it an advantage mining coins. Once Segwit went into place on bitcoin they could no longer use asic boost and lost their advantage so they forked bitcoin for greed. They tried to take a bunch of miners with them and force everyone who wants to buy an antminer to pay for them in Bitcoin Cash, driving up BCC and trying to take down BTC. This is a fraud currency and everyone should ignore it, and let it die on the side of the road like the diseased rodent it is.
4 Litecoin This is a great coin. It is more stable than every coin above it. The network is reliable and the transactions are fast. As if that were not enough, the fees are ridiculously low. So low that they have attracted STEAM, who just dropped bitcoin, to allow people to purchase on their store with Litecoin.
This should be the number 2 coin, in my opinion. (only because nothing is going to dethrone Bitcoin.)
5 Ripple If you have ever invested in ripple, and thought the price was going to go up and was surprised how it suddenly came crashing down, well you are not imagining things and you are not alone. The price on this coin is manipulated.
Don’t be me wrong, Ripple is a useful coin with good tech behind it. Fast transactions, good scalability and low fees, but this coin is used by banks to transfer fund between them. They do not want to the value to go up because that would make the fees larger. This “global “token is mainly traded on Korean exchanges. This coin was not designed to be a holder of value, so if you are looking to invest, I would stay away from Ripple. Anything over 25 cents is risking a sudden plunge. I’m amazed to see it at 36 cents.
6 IOTA - I love IOTA. What a great coin with a great team behind it. The network (Tangle) is very advanced and they love to brag about how they are an improvement over bitcoin. The people involved in IOTA tend to be very passionate and haters of blockchain.
The problem? Well, their wallets don’t even work! You can buy it on Binance, but you can’t even withdraw it because they have so many problems trying to get a wallet to be stable. For a coin that suddenly shot up to $5 (I rode a lot of that up and jumped out) on the news that they were working with Samsung, Microsoft and others on an information sharing network, I would think they could get their transaction network up and running so people can keep coins reliably in their wallets and get them off exchanges.
7 DASH One of a kind. The network funds itself. Unheard of. It’d decentralized with Masternodes that vote on how to spend the budget. (masternodes controlling the future don’t sound decentralized to me, but I digress) They claim instant transactions and privatesend (wasn’t this darksend?) This used to be XCoin in Jan 2014. 10 days later the core dev team changed the name to Darkcoin. Later they changed the name to DASH (not to be confused with Dashcoin, which is exactly what many people do… get confused.)
Some people would say there is a dark side to Dash coin, but to each their own.
8 NEM My first question is if the currency is called NEM, why is the symbol XEM??? NEM codes its own blockchain making it efficient and stable. If you hold 10,000 XEM, you can harvest(?) which incentivizes people to hold, which will inflate the price. (HODLING is the main reason bitcoin goes up in price. If everyone were day trading it can you imagine the volatility? When you limit the supply and there is still a high demand the price must go up. Simple as that.) NEM (or XEM) is not discussed very much and is not widely known. This is odd considering its high market cap (top 10 baby) and its solid tech. NEM (like bitcoin gold) needs some good marketing.
#9 Monero This is a PRIVATE COIN, untraceable currency. This coin has a purpose, and that purpose is protecting the privacy of the users of it. You can send and receive Monero without knowing who you sent or received coin from. This coin will increase in value as demand for privacy will only continue to increase and this is the world’s number one privacy coin (sorry dash). Some people may have ethical reasons to not want to invest in a coin that may be used for all manner of shady dealings online. That’s up to you to decide. Are you against fiat cash? For the most part cash is untraceable too, and people use it for all sorts of shady things, but people also use it for plenty of good things.
10 Bitcoin Gold Finally a version of bitcoin I can mine on my computer at home! YEAH!!! Bitcoin is SUPPOSED to be decentralized, and this is the ONLY flavor of bitcoin that lives up to that. It’s the same block interval and block size as bitcoin, but it updates difficulty on every block and prevents ASIC’s by using POW Equihash so people can mine on GPU’s at home.
As I mentioned above, Bitcoin Gold has faster transfers with lower fees and the network is not able to be manipulated by companies such as Bitmain, because large ASIC farms have no control over this network. Some mysterious forces (I wonder who?) attacked Bitcoin Gold when it first launched, with DDOS attacks and faking wallets. Despite the rough start, bitcoin gold has been widely accepted at 25 exchanges including Bittrex, HitBTC, Bitfinex, Binance and Yobit! It has even found a home in hardware wallets like Trezor and Ledger. You can use Coinomi on your phone too. http://amzn.to/2AeoyMI <----- Check Out Trezor Hardware Wallet! THE TOP 5 COINS FOR ME: 1) Bitcoin (obviously) 2) Litecoin 3) Etherium (Because of the hype) 4) Monero 5) Bitcoin Gold Honorable mentions: IOTA and NEM Find this post useful? Please donate BTG : ANYwhWdjfxQBokXR5dzDixvu8UB5PkqRfg This took a long time to type. :)
The only coin that has a future, and I'm not just saying that to be annoying, is DarkCoin. Started January 18th it is a new alt coin, however, it has a highly talented developer. Here are some of the features of this new coin: 11 hashing algorithms to make it ASIC resistant, it's still a viable CPU miner, I mine with both CPU and GPU. It also runs the GPU MUCH cooler, 30% cooler leaving your room cooler and not wearing out your GPU or stressing the system so badly (and quieter fans!) But that's not the good part. Evan Duffield, our developer, has created an anonymous wallet. Not with a mixing service or TOR no, this is called DarkSend and it hides the address FROM THE WALLET. The blockchain will not contain your wallet address but a throw-away address that is untraceable. Even the coins are difficult to follow, using an implementation of coinjoin. It's a simple yet effective solution. Simplicity = much harder to crack. As Einstein said, the solution should be as simple as possible but no simpler" Darksend is working NOW, in beta. it is closed source until the developer has everything worked out, so no faulty code is grabbed and used by other alt coins. The only issues I see with it now are that sometimes, the transaction gets kicked back (no coins lost though), and to set your wallet up requires you to issue a command in the console, which is clunky. I'm sure the user interface for Darksend will be smoothed out, it's just still in Beta. Our highly talented and dedicated developer has other plans for the coin that he has only hinted at, and I don't doubt he will come through on that as he has been very responsive to all issues that have come up since launch, implementing KGW right as our first mining whale plopped down on us, and this has since kept the whales away or at least at bay. Coin rewards for mining are based on 2222222/(((Difficulty+2600)/9)2) = Reward The graph looks like this: http://www.steemjammer.com/images/graph.png there is a hard limit of 84 million coins, but this limit will take proximately 70-80 years to reach depending on how popular the coin is to mine. Once difficulty reaches approximately 5000, the coin rewards will bottom out at 5 coins per block and stay there until the 84 million coin wall is hit. This coin is well thought out, well planned, has an excellent team of developers lead by Evan Duffield, a young man with Software and system development experience in the Banking industries. You can't get better than this! P.S. I just wrote this for one of my pool that I mine bitcoin in where they're thinking of adding a coin. I figured it would be usesful to post in a more public place :)
Before I begin I want to apologize for "preaching to the choir" or "circlejerking". I just have the urge to verbalize a short summary of Darkcoin's achievements, most of which go unnoticed imo. Also maybe this list will help people to convince others getting into the DRKness.
X11 is an ASIC-resistant algorithm leveling the playing field for miners and enabling fairer distribution of hashing power.
The block reward decreases smoothly through an ingenious formula avoiding abrupt hashing power decreases after "halvings", keeping the network stable
Accidental forks can be mitigated within our network thanks to the "Sporking" idea, decreasing market volatility in case of a bad rollout.
Masternodes finally created an incentive to people without sophisticated mining equipment to run full nodes, which created a much more robust network and also a foundation for more elaborate technologies.
The very idea of instituting a collateral is brilliant, since it's a trustless method of ensuring cooperation of MN operators, similar to Nakamoto's idea of making 51% attacks unattractive to miners.
The namesake technology Darksend finally enables true financial liberty to anyone willing use it.
Instant transactions thanks to Masternodes will be a complete game changer in cryptocurrencies and most likely will cause the lionshare of copycats.
Most important of all: A truly dedicated and very large team of real people, with real names, real faces and real committment to the project and for what it stands (Little joke on the side. This is what you get with anonymous developers aka crooks).
Looking at the sheer amount of innovations unified within one single coin, while around 99% of other altcoins either offer no or only one or two new ideas or functions with fancy graphics, empty promises on ANN-threads and half-assed implementations I can only wonder how long this extreme undervaluation of DRK will continue. I think we can all agree that the stagnant price level was a floor price mainly caused by so many coins tied up into Masternodes. Anyway: This is why I trust DarkCoin and this trust has never been challenged since I bought my first coins back in March 2014. Any errors in my listing or own contributions? I'm sure there are more important achievements I overlooked and I would love to hear from you guys (and girls?). PS: Anyone else noticed how hostile Bitcoiners are to DRK? The only altcoin they allow to mention seems to carry an autistic dog as an emblem :P
Evander (Not So) Smart's flawed hitpiece on DarkCoin
Take a look at this CoinShuffle propaganda piece. The author publishes this article right after Evan explained why CoinShuffle is not anonymous and doesn't waste time by calling DarkCoin "flawed at its core". The only thing flawed here however is his knowledge of DarkCoin. His only argument bases on the claim that you'd have to trust Masternode owners, not that DarkSend itself can be deanonymized via Blockchain analysis. We all know this is ridiculous. A single Masternode operator is unable to do jackshit with the information running through his node, even disregarding the fact that he gets paid for his service. You'd have to run more than half of all Masternodes in existence, which is cost-prohibitive in itself already, just to have a tiny chance to deanonymize a single transaction. But at this point probably no one would need DarkCoin anymore because the attacker made every single user of the network a multi-millionaire in fiat, since that's how expensive it would be to run an attack with a ridiculous chance of success. Calling DarkCoin flawed for having Masternodes is like calling Bitcoin flawed for having miners, because you'd have to "trust them" to mine your transaction. Edit: typos
In only a month, the little-known bitcoin alternative known as Darkcoin has rocketed nearly tenfold in value--from around 75 cents a coin to almost seven dollars. Its selling point: Darkcoin Darkcoin — it sounds like something out of a 1980s cyberpunk novel. But Darkcoin is a real digital currency, and it's an even more private alternative to the better-known Bitcoin. The Darkcoin devs created a tool called DarkSend. DarkSend is an implementation of coinjoin (an anonymity feature originally implemented in Bitcoin) which utilizes the Darkcoin network to organize the coinjoins. If DarkSend becomes open source and is useful, it will be ported to Bitcoin with a few small modifications. The XMR-STAK 2.2 miner is an all-in-one miner that can be used to mine ETN using CPUs, AMD, and Nvidia GPUs. The ETN mobile miner is available on Google’s Play Store. The moment you install the miner app on your smartphone, you can start mining ETN tokens and most importantly, the miner won’t eat up your 3G or 4G bandwidth. Introducing the VedenMiner. Veden technologies has assembled a world class group of experts to design and build a BETTER SHA256 Bitcoin Miner. We have created a miner that will last longer, operate quieter, more efficiently, and come with Western company standards of quality, customer service and support.
MAKING THOUSANDS FROM BITCOIN MINING - Gmod DarkRP Rags to Riches #13 (Bitcoin Miner Roleplay)
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