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is there any way to get the ratio of multisigs to regular addresses, for dogecoin and bitcoin, etc?

is there any way to get the ratio of multisigs to regular addresses, for dogecoin and bitcoin, etc? submitted by tomcarbon to dogecoin [link] [comments]

Ratio of Dogecoin to Bitcoin, and the point that Dogecoin will surpass Bitcoin

Well today I was bored and decided to figure out at what dollar amount dogecoin is worth more than bitcoin (not like past the current price ~$655). Why isn't it just when a single doge gets past a single bitcoin? -Because dogecoin and bitcoin have a different amount of coins to be released through mining. Dogecoin has a 100 billion (100,000,000,000) cap. Bitcoin has 21 million (21,000,000). Righty ho! Let's begin mathing. Simplify the zeros: Ð: 100,000 B: 21 Divide by 21: Ð: ~4,762 (4,761.904) B: 1
So it's 4,762 dogecoin to bitcoin in terms of total amount of coins to be released. Prices: Ð: x B: ~$655
$655/4762 = $0.137 ($0.137547) So when Dogecoin gets to $0.13 each (and all bitcoin and doges have been mined), we beat bitcoin!! (and then we beat bitcoin's $655 per doge of course)
My math might be wrong. But it produces a number.
submitted by sparkyman215 to dogecoin [link] [comments]

[TUTORIAL] -- How to SAFELY Claim New RNG Coins Using Your Private Keys

[TUTORIAL] -- How to SAFELY Claim New RNG Coins Using Your Private Keys

https://preview.redd.it/u4x1o4p37zc41.png?width=700&format=png&auto=webp&s=01d1ff52c0b7fc1c9ae5bb4f161979ad1f4bb559
I’m a longtime blockchain enthusiast and developer and one of my biggest gripes about this space is how quickly every new project is widely dismissed as a “scam” or “shitcoin” by so many people before it even gets off the ground. Sure, there is a lot of uncharted territory with pirates lurking to steal your bags left and right but with a small amount of personal education you can exist safely in the world of crypto I promise! With this article I aim to help lift your knowledge a little higher while helping keep your funds a little safer!

So What Is Happening?

On Tuesday February 18, 2020 a new coin named Ring (RNG) will be minted. This coin aims to bring two unique and fresh methods of proofing to the crypto game, quite literally: Agent-Based Hive Mining (borrowed from LCC) and Proof-of-Play Mining, where literal gameplay is used to hash and reward miners! To celebrate and help spread the word, the team is giving away claims of free RNG to all holders of the following coins:
  • Litecoin Cash (LCC)
  • Bitcoin (BTC)
  • Dash (DASH)
  • Dogecoin (DOGE)
It's being touted as the world's first crypto "4-way fork" but I'd really call it more of a "4-way claim" since its a brand new chain and not based on the code of any of the rewarded coins. It's simply a clever method of allowing a wider range of coin holders a chance to participate in the launch of these exciting new features!

How Will This Process Work?

On the 18th of February, a balance snapshot will be taken of the four chains listed above. Anyone holding a balance with any of these coins at the time of the snapshot will be forever eligible to claim their RNG at any time. Because the only way to prove ownership of a crypto address is to supply the private keys, and pretty much EVERYONE will tell you to guard those things with your life, below I will outline exactly what to do so there is absolutely 0% risk of losing a single satoshi! This method will apply to ANY claim rewards of any coin in the future as well. Always practice #SafeForking!

How Do I Safely Claim My RNG?

STEP 1 -- BEFORE THE SNAPSHOT -- VERIFY ACCESS TO YOUR PRIVATE KEYS
All core wallets will allow you to export a private key of any address in your wallet but many third party services like exchanges and hot wallets do not allow access to them. In these cases you will need to send your funds out of the third party service and into some kind of personal wallet where you can reach the private keys yourself. Then just wait for the snapshot to happen…
To make things easier on yourself, you can optionally collect your original coins into as few addresses as possible BEFORE the snapshot. Doing so reduces the number of keys you will need to empty and import later. It’s just less work!
\** SNAPSHOT HAPPENS HERE... ****
STEP 2 -- ATER THE SNAPSHOT -- EMPTY ALL ADDRESSES YOU WISH TO CLAIM
After the snapshot is confirmed, withdraw all coins OUT of each of your origin coin addresses into brand new addresses leaving the original ones quite empty. This way when you import later there is NO risk of losing anything! Also know that after you import these private keys you should never use them again for safety’s sake! It’s kind of the whole reason you’re even reading this article in the first place.
STEP 3 -- EXPORT PRIVATE KEYS FOR ALL ADDRESS YOU WISH TO CLAIM
This is the most difficult part, are you ready? Once each claim address is confirmed to be EMPTY, you must obtain each one’s private keys. This will entirely depend on the wallet you use (QT example below) but for all core wallets there is generally an option for exporting private keys somewhere in there. Collect them all!
How to Export QT Wallet Private Keys:⛔️ — DISABLE INTERNET FOR SAFETY — ⛔️- Open the QT wallet client- Click on HELP in the menu bar- Click on DEBUG WINDOW- Click on the CONSOLE tab- Click inside the input box at the bottom(if your wallet is locked…)- Type: walletpassphrase [Password] 600(this unlocks your wallet for 10 minutes)- Type: dumpprivkey [Address]- Copy the output hash, paste it into a list somewhere.(repeat as needed, clear your clipboard history after)- Type: walletlock (if applicable)⚡ — RE-ENABLE YOUR INTERNET —
STEP 4 -- IMPORT ALL PRIVATE KEYS INTO RNG CORE WALLET
\** PLEASE VERIFY THAT EVERY CLAIM ADDRESS IS EMPTY BEFORE CONTINUING... ****
The final step is to simply import each of these private keys into the new Ring Core Wallet to claim your free RNG rewards. The wallet handles this part automatically and you will see your new RNG balance right away. You can find this option under the File > Import Private Keys menu.
Importing a private key is the only way to prove ownership of a crypto address so this is unavoidable if you want to claim new coins from it. The steps above will allow you to prove ownership of your snapshotted address balance plus use its empty key to then claim your new coins thus keeping your original coins completely protected in the brand new address with a new private key (which you should now also keep VERY private!)
By emptying the address before you import it’s private key you eliminate the risk of theft entirely. One cannot take from an already empty jar. It should also be noted to NEVER use the imported address again as an added safety precaution*!*
👏👏👏 DONE! ENJOY YOUR FREE MONEY! 👏👏👏

How Much RNG Will I Receive?

Litecoin Cash holders will receive the highest claim ratio (5000 LCC = 1 RNG) as the LCC team are the ones responsible for creating Ring and wanted to extend a heart-felt thank you to the LCC community for their years of support. All other coins will be based on a 1:1 ratio with the value of Bitcoin at the time of the fork. This of course means 1 BTC = 1 RNG. For DASH and DOGE, however, their BTC market prices will determine their reward ratios. (For example if DASH is trading at 0.015 BTC each, then each DASH coin will net you a reward of 0.015 RNG to match.) Of course you don't need whole coins to claim, partial decimals work just fine!

What Value Will RNG Have?

That, my friends, is entirely up to the markets. No one in the history of crypto has had a perfect track record of price predictions so I'm not even going to try here. I will say, though, having gotten to play with their Testnet a bit so far that I am very impressed with the new Proof-of-Play method and how they have initially implemented it. It bodes very good things for the future of their project and this coin so I personally would expect its value to hold and most likely rise steadily as more people become aware of this groundbreaking new tech and it's potential to expand outward!

Is Litecoin Cash Still Going To Exist?

Absolutely! At least, from what I can gather. LCC has it's own purposes and will continue to be developed on. Ring is not meant to be a replacement or upgrade of any kind to Litecoin Cash. It is an entirely different proofing algorithm and a different mission statement altogether. It's more so meant to help expose the amazing new technologies developed on the LCC blockchain to a wider audience beyond simply its own fan base. If anything it'll act a sister chain that can help expose more folks to LCC in the future!

Disclaimer

While I am a moderator for the Litecoin Cash Discord server, I am writing this from an independent point of view as an educated crypto enthusiast with a passion for helping others navigate these waters. Having been an initial forker and third party developer on top of LCC myself, I feel I have some valuable insight into the direction the team is taking and I wanted to offer some sound advice for the upcoming Ring fork before the FUD gets caked on too thick.
I know a lot of people get scared easily in crypto because of the rampant scamming that goes on but I've watched this team work their asses off for two years to get out from under the stain of Charlie Lee's very biased, uneducated "its a scam" tweet which was endlessly parroted throughout the Litecoin community with nothing but blind party loyalty and no due diligence. The LCC folks are kind, wonderful hard-working people with big hearts and ambition and they have actually developed a unique proofing methodology that is likely going to impress a lot of people!
So before you go jumping on the "it's just another shitcoin" bandwagon please stop and take a real hard look at both Litecoin Cash (LCC) and Ring (RNG): two viable projects with something to bring to the table! If nothing else, hey, just claim your new coins and dump them off for some free money. You literally cannot lose if you PRACTICE SAFE FORKING!!!
Good luck, cryptonauts!
=A=
submitted by auscoine to RingCoin [link] [comments]

[TUTORIAL] -- How to SAFELY Claim New RNG Coins Using Your LCC Private Keys

[TUTORIAL] -- How to SAFELY Claim New RNG Coins Using Your LCC Private Keys

https://preview.redd.it/9csw52aw30d41.png?width=700&format=png&auto=webp&s=53ceb329c9772d7f0abbcc56b44ba405e34dd8a8
I’m a longtime blockchain enthusiast and developer and one of my biggest gripes about this space is how quickly every new project is widely dismissed as a “scam” or “shitcoin” by so many people before it even gets off the ground. Sure, there is a lot of uncharted territory with pirates lurking to steal your bags left and right but with a small amount of personal education you can exist safely in the world of crypto I promise! With this article I aim to help lift your knowledge a little higher while helping keep your funds a little safer!

So What Is Happening?

On Tuesday February 18, 2020 a new coin named Ring (RNG) will be minted. This coin aims to bring two unique and fresh methods of proofing to the crypto game, quite literally: Agent-Based Hive Mining (borrowed from LCC) and Proof-of-Play Mining, where literal gameplay is used to hash and reward miners! To celebrate and help spread the word, the team is giving away claims of free RNG to all holders of the following coins:
  • Litecoin Cash (LCC)
  • Bitcoin (BTC)
  • Dash (DASH)
  • Dogecoin (DOGE)
It's being touted as the world's first crypto "4-way fork" but I'd really call it more of a "4-way claim" since its a brand new chain and not based on the code of any of the rewarded coins. It's simply a clever method of allowing a wider range of coin holders a chance to participate in the launch of these exciting new features!

How Will This Process Work?

On the 18th of February, a balance snapshot will be taken of the four chains listed above. Anyone holding a balance with any of these coins at the time of the snapshot will be forever eligible to claim their RNG at any time. Because the only way to prove ownership of a crypto address is to supply the private keys, and pretty much EVERYONE will tell you to guard those things with your life, below I will outline exactly what to do so there is absolutely 0% risk of losing a single satoshi! This method will apply to ANY claim rewards of any coin in the future as well. Always practice #SafeForking!

How Do I Safely Claim My RNG?

STEP 1 -- BEFORE THE SNAPSHOT -- VERIFY ACCESS TO YOUR PRIVATE KEYS
All core wallets will allow you to export a private key of any address in your wallet but many third party services like exchanges and hot wallets do not allow access to them. In these cases you will need to send your funds out of the third party service and into some kind of personal wallet where you can reach the private keys yourself. Then just wait for the snapshot to happen…
To make things easier on yourself, you can optionally collect your original coins into as few addresses as possible BEFORE the snapshot. Doing so reduces the number of keys you will need to empty and import later. It’s just less work!
\** SNAPSHOT HAPPENS HERE... ****
STEP 2 -- ATER THE SNAPSHOT -- EMPTY ALL ADDRESSES YOU WISH TO CLAIM
After the snapshot is confirmed, withdraw all coins OUT of each of your origin coin addresses into brand new addresses leaving the original ones quite empty. This way when you import later there is NO risk of losing anything! Also know that after you import these private keys you should never use them again for safety’s sake! It’s kind of the whole reason you’re even reading this article in the first place.
STEP 3 -- EXPORT PRIVATE KEYS FOR ALL ADDRESS YOU WISH TO CLAIM
This is the most difficult part, are you ready? Once each claim address is confirmed to be EMPTY, you must obtain each one’s private keys. This will entirely depend on the wallet you use (QT example below) but for all core wallets there is generally an option for exporting private keys somewhere in there. Collect them all!
How to Export QT Wallet Private Keys:
⛔️ — DISABLE INTERNET FOR SAFETY — ⛔️
- Open the QT wallet client
- Click on HELP in the menu bar
- Click on DEBUG WINDOW
- Click on the CONSOLE tab
- Click inside the input box at the bottom
(if your wallet is locked…)
Type: walletpassphrase [Password] 600
(this unlocks your wallet for 10 minutes)
- Type: dumpprivkey [Address]
- Copy the output hash, paste it into a list somewhere.
(repeat as needed, clear your clipboard history after)
- Type: walletlock (if applicable)
⚡ — RE-ENABLE YOUR INTERNET — ⚡
DONE!
STEP 4 -- IMPORT ALL PRIVATE KEYS INTO RNG CORE WALLET
\** PLEASE VERIFY THAT EVERY CLAIM ADDRESS IS EMPTY BEFORE CONTINUING... ****
The final step is to simply import each of these private keys into the new Ring Core Wallet to claim your free RNG rewards. The wallet handles this part automatically and you will see your new RNG balance right away. You can find this option under the File > Import Private Keys menu.
Importing a private key is the only way to prove ownership of a crypto address so this is unavoidable if you want to claim new coins from it. The steps above will allow you to prove ownership of your snapshotted address balance plus use its empty key to then claim your new coins thus keeping your original coins completely protected in the brand new address with a new private key (which you should now also keep VERY private!)
By emptying the address before you import it’s private key you eliminate the risk of theft entirely. One cannot take from an already empty jar. It should also be noted to NEVER use the imported address again as an added safety precaution*!*
👏👏👏 DONE! ENJOY YOUR FREE MONEY! 👏👏👏

How Much RNG Will I Receive?

Litecoin Cash holders will receive the highest claim ratio (5000 LCC = 1 RNG) as the LCC team are the ones responsible for creating Ring and wanted to extend a heart-felt thank you to the LCC community for their years of support. All other coins will be based on a 1:1 ratio with the value of Bitcoin at the time of the fork. This of course means 1 BTC = 1 RNG. For DASH and DOGE, however, their BTC market prices will determine their reward ratios. (For example if DASH is trading at 0.015 BTC each, then each DASH coin will net you a reward of 0.015 RNG to match.) Of course you don't need whole coins to claim, partial decimals work just fine!

What Value Will RNG Have?

That, my friends, is entirely up to the markets. No one in the history of crypto has had a perfect track record of price predictions so I'm not even going to try here. I will say, though, having gotten to play with their Testnet a bit so far that I am very impressed with the new Proof-of-Play method and how they have initially implemented it. It bodes very good things for the future of their project and this coin so I personally would expect its value to hold and most likely rise steadily as more people become aware of this groundbreaking new tech and it's potential to expand outward!

Is Litecoin Cash Still Going To Exist?

Absolutely! At least, from what I can gather. LCC has it's own purposes and will continue to be developed on. Ring is not meant to be a replacement or upgrade of any kind to Litecoin Cash. It is an entirely different proofing algorithm and a different mission statement altogether. It's more so meant to help expose the amazing new technologies developed on the LCC blockchain to a wider audience beyond simply its own fan base. If anything it'll act a sister chain that can help expose more folks to LCC in the future!

Disclaimer

While I am a moderator for the Litecoin Cash Discord server, I am writing this from an independent point of view as an educated crypto enthusiast with a passion for helping others navigate these waters. Having been an initial forker and third party developer on top of LCC myself, I feel I have some valuable insight into the direction the team is taking and I wanted to offer some sound advice for the upcoming Ring fork before the FUD gets caked on too thick.
I know a lot of people get scared easily in crypto because of the rampant scamming that goes on but I've watched this team work their asses off for two years to get out from under the stain of Charlie Lee's very biased, uneducated "its a scam" tweet which was endlessly parroted throughout the Litecoin community with nothing but blind party loyalty and no due diligence. The LCC folks are kind, wonderful hard-working people with big hearts and ambition and they have actually developed a unique proofing methodology that is likely going to impress a lot of people!
So before you go jumping on the "it's just another shitcoin" bandwagon please stop and take a real hard look at both Litecoin Cash (LCC) and Ring (RNG): two viable projects with something to bring to the table! If nothing else, hey, just claim your new coins and dump them off for some free money. You literally cannot lose if you PRACTICE SAFE FORKING!!!
Good luck, cryptonauts!
=A=
submitted by auscoine to LCCofficial [link] [comments]

Cryptocurrencies and the circle of competence

A quick note to investors that believe the intrinsic value of bitcoin is 0 because they can't do a DCF on it: this isn't the place to argue with me about it. I suggest you read a bit more about what it actually is (hint: not a currency). I've defended its value in plenty of other posts on this sub. It's a $40+ billion market, so at least a few people agree with me. I welcome you to short the crypto of your choice if you think it's worth nothing. This is a post for folks that believe that cryptocurrencies have at least some discernible value and are considering investing in them.
If we have a strength, it is in recognizing when we are operating well within our circle of competence and when we are approaching the perimeter. – Warren Buffett
Given the tripling of the cryptocurrency market cap in the last few months and the 3- to 10-fold increases in virtually every major altcoin, cryptocurrencies like Ethereum and of course Bitcoin have been getting a stunning amount of attention in the press and on this subreddit recently.
If you follow the cryptocurrency world closely, you know that there have been a huge amount of dubious ICOs (initial coin offerings) on the market recently. It's an explosive time in crypto.
It's also a frustrating time for many long term bitcoiners and crypto fans, because we're faced with a barrage of questions from outsiders who see the returns and want to buy in to the "next big thing" and make a quick buck. This is a warning to those people.
Everyone is a genius is a rising market. It's hard to go wrong these days in crypto. Even coins of dubious merit like Ripple, Dogecoin, Stellar, NEM were pumped 5 times without any fundamental change. Speculators/investors have thrown money at crypto indiscriminately and efficient markets have 100% broken down. The altcoin pump right now is roughly comparable to the Dot Com crisis of the early 2000s.
  1. New tech promises to change the world
  2. Investors jump in on hype and promises
  3. A surge of IPOs (ICOs) occurs to capitalize on this
  4. "Greater fool" traders pile in, thinking they can make money even if the underlying is unsound
  5. Analysts claim "this time is different" while seasoned old hands refuse to participate
  6. Tech is proven not to be as developed as everyone thinks, market tanks
  7. Select few decent companies survive, all the trash is destroyed
  8. Tech eventually fulfills expectations, 10 years later, but none of the investors from the early days make money on it
However, canny (and skeptical) investors can still make money on crypto, as cryptocurrencies are inevitable, and will continue to expand and proliferate, even when the altcoin crash comes.
Something to realize first of all is that the crypto market is heterogeneous. It has straightforward cryptocurrencies (bitcoin, litecoin, dash, monero), smart-contract cryptos (ethereum, ethereum classic) and a whole bunch of crypto tokens that follow dedicated platforms (golem, augur, steem). Not mentioned are ripple and stellar because they aren't really cryptocurrencies at all.
The investing theses for all of these categories is radically different. The measure of success for a currency or store of value is adoption, merchant use, low volatility, a large network, and real world acceptance as something worth owning. Bitcoin has this right now, which is why it's more than 50% of the ecosystem, and none of its competitors are even close. Monero, Zcash, and Dash are a special case in that they try and make transactions anonymous and privacy, allowing for use cases on the darknet markets, for instance.
The tech underlying bitcoin is essentially sound, although it is having a scalability crisis, which you should read about. It can't right now serve as a currency which will buy you a cup of coffee - the transaction fees are too high. However if you want to send $200,000 from Mexico to Indonesia or China to the Philippines, you can do it within 20 minutes, and with fees of a few dollars. And if you want to store your wealth in a vault that is totally secure, and cannot be debased by a central bank, bitcoin is a good bet. This is highly relevant to folks in India that just had cash abolished, to Venezuelans, to Argentines, to Cypriots, to Nigerians, anywhere local currencies are weak and volatile. The potential value of a competing cryptocurrency lies in whether it can improve materially on bitcoin, whether it means incorporating off-chain scaling (segwit with litecoin), making it more private and fungible (monero), automating governance (decred), and so on.
Then there are cryptoassets that incorporate smart contracts. These – ethereum and its derivatives – exploded when the SEC denied the Bitcoin ETF back in march and bitcoiners got worried and started diversifying. This is the market segment that is highly risky, even by crypto standards, in my opinion. Ethereum is a protocol that allows contracts to self-enforce. Programming power to run the contracts is paid for with ethereum. Two parties agree to a contract, and it then self-executes. It's secured by a decentralized computing network of ethereum miners, so the contracts cannot be shut down by a government or corporation. It's pretty clever. Last year, a $150+ million contract was drawn up with ethereum, which would act like a venture capital fund, picking good investments just based on the votes of the token holders. This was called a Decentralized Autonomous Organization, and it was hacked before it could do anything. Well, it was exploited based on the code and so the exploit was totally "fair" given that the contract was meant to be inevitable, once agreed to. However, the creators of Ethereum didn't like the idea of losing $50 million, so they decided to collectively agree to amend the rules of the protocol itself (violating "Code is Law"), and jump onto a new one, which they would also call Ethereum, although it was really Ethereum 2.0. Some people got upset by this, because they thought that immutability and not arbitrarily rolling back the code was more important than some investors losing money because of poorly written code. They created Ethereum Classic, which is the original Ethereum chain. This wasn't what the Ethereum 2.0 folks thought would happen, but it did happen, so there are two competing Ethereum chains now.
Eventually, lots of decentralized apps were funded, via tokensales. A development team would say: "we're going to use ethereum to create a decentralized cloud computing/AI/prediction/gambling/timestamping/social media network." And then investors would buy the tokens, expecting that eventually the dev team would deliver, and the tokens would be in demand, since they would be required to use the network. It's a bit like buying in-game-currency when the game is announced, anticipating that the game would be wildly popular and you'd be able to sell it on later at a profit or acquire it cheaply to buy in-game items later on. However, many of us think that the promises are a bit extravagant, and that investors in these ICOs are probably going to lose money. The incentives aren't well aligned. Founders can just not deliver and run off with the money, and there's no regulatory body to enforce that. And for Ethereum more broadly, many people are worried that the turing-completeness of the language will mean it will face serious threats and unforeseeable hacks, like with the DAO. Finally, Ethereum has increased from around $20 to $90 in a matter of months, which raises the question of whether a) the market realized its true value or b) it was pumped on speculation. There's a huge set of unknowns with a smart contract currency, and virtually none of the promised dapps are up and running right now, and the ones that are haven't really attracted large userbases or delivered. This is because the tech is in its infancy, and the developers are still learning how to use it properly. So we won't know if these sorts of decentralized networks are even possible to create on the timelines that investors are expecting. Therefore, ethereum investors buying it on the promise of the realization of this tech in the near future are almost guaranteed to be disappointed. Additionally, ethereum is making the switch to the largely untested Proof of Stake algorithm, which will change incentives that secure the network. This brings me to my key point:
Stay within your circle of competence. You can grow your circle – slowly. Cryptoassets are almost impossibly complex to grasp with just a cursory look. Investing in them requires weeks of reading and a very skeptical view.
The above was an introduction to cryptocurrencies, the different ones on offer, and why investing in ethereum is not the slam dunk everyone thinks it is. This portion of the post will tell you about the kind of due diligence you need to do if you want to invest, rather than speculate, in crypto.
The first thing to mention is that passive investing in crypto has historically been a terrible strategy. Just buying bitcoin almost always outperformed. This was due to the poor set of altcoins, and the size of bitcoin's almost insurmountable network effect. This sort of changed in March and April when bitcoin's dominance went from 80% to ~50%, and it remains to be seen if this will persist or not. But the point is, buying the index is usually an awful strategy in crypto, particularly because there are so many truly awful projects out there.
So what does it take to invest responsibly in cryptocurrencies? It requires at least a basic understanding of three disciplines: public-private key cryptography; programming, and how open-source projects function; and economics, particularly game theory and the quantity theory of money. This is why is is so difficult to apprehend easily: because very few people actually boast a sincere understanding of these three topics. I certainly don't.
You need to be able to determine whether the tech is actually going anywhere, and whether the task the developers have set themselves is possible or realistic. You need to know how open source networks are governed, and which models strike the best balance between efficiency of decision-making and fair consensus. You need to be able to measure the inflation schedule of the cryptocurrency, and see whether your coins are going to inflated away. You need to be able to make plausible guesses about the potential market for the crypto and estimate future values. Note that the payoff structure is not equity-like. It's more like early stage venture capital, or buying loss-making biotech companies. Here's my checklist of questions to answer, ordered by importance:
  • Does the project offer a significant improvement over its nearest competitor, or a reasonable chance of success in its stated aim? Is there a demand for this project? Does it have a concise and reasonable goal? (Narrower goal: higher likelihood of success).
  • Is the development team competent? Are they committed to the coin? What's their track record? Is is an active dev team? Do they have a roadmap for the future? Are they transparent about goals?
  • How is the development team funded? Is the currency corporate-backed? Is the funding transparent? Was the coin significantly premined? (Usually bad) Are developers paid via iterative community project crowdfunding? (Usually good).
  • What is the governance structure of the currency? Who holds ultimate control over decisionmaking? How are decisions made? Are they transparent? Are mining/developer incentives aligned?
  • Does the asset have acceptance and use today? Does it have a functioning use case? If it doesn't, does it have a decent chance of being accepted?
  • Has the asset's "market cap" tripled or quintupled in the last few months? Was this based on any fundamental changes (new software releases, etc) or just speculation?
  • What are the transaction volumes like? (Hint: divide market cap by monthly averaged daily on-chain tx volume to find a consistent ratio) What's the ratio of on-chain transaction versus exchange speculation? Has price gone up independent of transaction volumes?
  • How long has the asset been around? Think of the Lindy effect. Older is usually better.
  • What's the community like? Is there censorship? Does it have an active subreddit? Do the developers answer questions? Are they accessible? How big is the github community? (Hint: you can divide market cap by github commits to find a comparable ratio).
  • Are you psychologically able to hold this coin in a 90% downturn? Is this a high conviction thesis or are you betting on being able to sell it to a greater fool?
How long did it take you to learn about investing in equities? Reading balance sheets, running DCF and DRI models, figuring out how to value a stock based on comparables? Years? How many mistakes did you make before you figured out how to be responsible?
Cryptos are an asset class that is both radically different from anything that has existed before. They are also incredibly heterogeneous, as I argued above. It also leads to cultism – so bitcoiners generally take a dim view of ethereum, and vice versa. Monero fans generally don't like dash, and so on. You have to keep your mind open to understand new opportunities as they arise, and to stop yourself becoming too mentally invested in your project of choice. The vast majority of projects will fail within 5 years, so becoming overly certain of the success of one will probably devastate you. If you can stay balanced, stay honest about your crypto's chances of success and adoption, not get tunnel vision, and not take overly risky positions, you have a good chance of not losing everything. Remember the payoff structure. Heavily rightward skewed. A ton of cryptos earn no return and a select few earn an absurd (1,000-10,000x) return.
None of this is necessary if you just want to invest randomly in one of the top ten cryptos. That's the strategy of 95% of investors today. Pick a coin and go. If it's not bitcoin, I can pretty much guarantee you'll lose money. The newer, the worse.
I've not made an effort to convince you that cryptos have intrinsic value. If you've made it this far, you probably think they're worth something at least. However, they're probably not worth as much as the market is pricing them at right now. Especially not those in the ethereum family. I'm not going to tell you what to invest in, because that would defeat the purpose of this post. I'm telling you to do your due diligence before blindly buying a crypto. And that due diligence on ethereum is as complex and difficult as Tesla or Amazon DD. And that your skills in equity valuation are pretty much useless in this asset class. My circle of competence doesn't extend to options or lean pork futures, so I don't touch those. I suggest that until you really feel comfortable in crypto, you don't buy randomly.
Summative thoughts:
  1. Investing in crypto is hard
  2. 90% of people that invest at market peaks will lose money
  3. You have to extremely skeptical and invest in high-conviction positions
  4. Cryptos are exhibiting bubbly behavior right now, it's a pretty bad time to pick one out
  5. Cryptos are nothing like equities but they do have real value
  6. Cryptos are the future, but almost none of these coins will survive 10 years
  7. The older the better
  8. Governance is key
  9. These are speculative positions, only invest what you can tolerate losing
  10. You can make money investing in cryptos
  11. Passively investing in cryptos doesn't work
  12. It's a winner takes most market, there won't be 1 crypto that wins. There will be different cryptos for different use cases.
edit: deleted chart with probabilities of success because of subjectivity and oversimplification.
edit2: I've been overwhelmed with PMs so bear with me. also, please forgive any spelling errors on this post. I wrote it in one frenzied sitting.
edit3: I knew I would get a fair amount of resistance from ethereum investors (even though I attempted to keep my post as balanced as possible) but I was unprepared from the breathtaking volume of spam and diversity of attacks. One particular user has made 30 comments in this thread. I don't have a stake in ETC, period. The post is 3000 words long and most of it is about how to properly do your due diligence in a crypto. if ethereum fares poorly by standard due diligence metrics, then perhaps your issue is deeper than one post on /investing.
final edit: there have been some broken-hearted ethereum fans very busy organizing brigades against this post, and attacking me personally, and so on. It's all very incovenient. I can tell that I struck a nerve. This post isn't really about ethereum - it's about how to do research in crypto, and why you can't expect to profit handsomely without that due diligence. I mentioned ethereum because there are 3 or 4 breathless posts on here a day about its stunning gains and whether it's worth investing in. My answer: read about it first, from a diverse set of sources. A final note: I do not own any ethereum classic, I have never owned ethereum classic. I brought it up because it is part of the ethereum story, and an example of what happens when you have a contested hard fork. I do hope that ethereum succeeds, I am just cautioning against over exuberance.
submitted by isrly_eder to investing [link] [comments]

EarnCrypto a GPT site for CryptoCurrency

EarnCrypto is a gpt site that lets you earn Crypto Currency! They have around a 100 different coins that you can cash out to. (Including big names like Bitcoin, Ethereum, Dogecoin) The site lets you earn through offerwalls - currently 11 including( peanut labs, personally, Adwall, OfferToro, and others) along with crowd flower and surveys. It runs on a point system where 1 point is equal to about roughly 1 cent in terms of that cryptocurrrency- the prices are constantly updating so that it maintains the 1:1 ratio. Payout minimum differs in every currency but most have a minimum payout of around 5-10 cents! They do charge a very small fee however less than a cent. Overall it's not the best GPT site if your strictly trying to make USD but if you want to try and build up some crypto currency for a coin you think will rise in value you could make a lot! Or it's great if you want experiment and play around with some crypto currency than its good for that too! If you want to give it a try here's my ref link : https://www.earncrypto.com/earn-free-bitcoin/?r=64309 (this link is if you want to earn BTC you can earn many other coins as well! Non-ref is https://www.earncrypto.com
Edit: forgot to mention that biggemore successful currencies have higher fees
submitted by GOLEMTRADER to beermoney [link] [comments]

We are running our first CONTEST! Enter to win an MVP2 kit + a free bottle of juice! Comment here for an entry!

This business is my baby and I want to make it as successful as possible. My definition of success would be happy customers that came back time and time again. I am happy to be helping save peoples lives and give them a product that will help them stop a harmful habit.
To help promote my site, I am running my FIRST EVER contest for a Black MVP2 kit with iClear30 and a free bottle of juice. This promotion is going well on my facebook but has not generated any customers for me. This is why I am posting it to reddit now! My site got 150 views the past 2 days but has begun to decrease again back to 10-15 people per day.
To enter you can either use our facebook page to enter, or just leave a comment here stating your thoughts or what you'd like to see, anything really, and I will add your username to the excel list I randomly pick the winner with. The contest will end on Thursday April 17.
To do this, I need to know what YOU want me to carry. The next genre of items I will be adding soon is mechanical mods, RBA/RDAs, batteries, and perhaps more juice options.
What improvements can I make that would make you use my site? I haven't gotten many orders yet, and am still figuring out how to reach more customers. I accept cryptocoins like dogecoin and bitcoin, I think that helps to make me unique. I also beat any prices(not officially but if I see another site with my products, I adjust my price to be the same or similar).
Are you happy with my simple 5$ flat shipping rate via USPS, with free shipping for orders over 75$? Should I offer shipping internationally? (I wanted to start with USA first to get the hang of shipping things efficiently)
If you are a siteowner and have any advice I would LOVE it. If you are a customer or viewer, tell me why you didn't make a purchase or what I can do to make this a place you would like to visit regularly!
TLDR: Comment here for a chance to win a Black MVP2 kit with iClear30 + free juice. Winner picked April 17th 2014
EDIT: Thank you for your input. I have corrected a few images/typos. I have reduced 75$ free shipping down to 50$ free shipping. The MVP2 price has dropped to 45. I received my first bitcoin order and my first unexpected credit card order. I have ideas for new products like mech mods and rbas/rdas, sony batteries, chargers, KFL+, aspire nautilus, nemesis clone by hcigar, driptips, and more.
As for juice, everyone keeps saying to get more. Making juice is an art and very time consuming. I mainly want to be a shop that sells hardware, with a little bit of juice as a convenience for my customers so they can at least get everything in one spot to get started, or to at least have SOME juice in case the mailman comes a day early with just the vaporcrypt order(we all know how that feels >:( )
I'm going to listen to your advice and write some New Vaper FAQ or beginner guide on the site, and put together some kits of my OWN with parts I pick and a reason stating why I chose them.
Anyways THANK YOU ALL SO MUCH!!! You have all driven so much traffic, and given me weeks of work to begin making changes, talking to suppliers, and fixing small annoyances.
MUCH LOVE AND HAPPY VAPING, MAY YOUR WICKS STAY EVER SATURATED
EDIT2: People seem to be missing this. I do not intend to be a juice shop. I do not want to carry a lot of juices, as it is not profitable unless you are the one producing them, which I do not have the time or desire to do. I carry a SMALL selection of juices from Mount Baker Vapor currently, all are 12mg nic, 5050pgvg, and 15 ml bottles. I do this as a convenience for new vapers to get some juice with their order before they decide where they want to try ordering more flavors from. If you can suggest to me more places that have decent wholesale prices like MBV or know someone that is looking to get their flavors out there and wants to partner up with me, I would love to hear about it. If you are going to say "hey you should carry more juices", I have already been told and will not be answering that question anymore. I am mainly interested in hardware and want to focus on that so that I can deliver the best possible experience to you. There are too many combinations of juice flavor, strength, ratio, and size, for me to handle at this point in my business journey. I hope you can all understand.
Time for bed for me, I will do one last round of question answering in the morning before I am finished. You guys have been amazing and I really love this community and how generous and honest you all are. Happy vapor trails <3
EDIT: For those not following on facebook, the winner was announced there. My reply to a few comments: Winner was announced on facebook page after the contest ended, go see. I compiled a list of all the reddit usernames entered as well as the entries from facebook, removed duplicates in excel, and randomly selected one. The entry came from facebook so I contacted her there.
submitted by VaporCrypt to electronic_cigarette [link] [comments]

[Very long, very serious] Development summary week ending 18th April 2014

When I got my first full time job, I used to try implementing requests from everyone as they came in, and for a while people really loved that I listened to their requests. Over time, however, things started to go wrong. I’d apply a change someone asked for, and in doing so would break something elsewhere in the code, in some subtle way that was missed in short-term testing. I’d fix that second bug and reveal a third. I’d fix that just in time for a new request to come in, and the process repeat. This led to the term “Bug whack-a-mole”, wherein I was spending time mostly fixing bugs introduced to live systems through rushing through earlier bug fixes.
So this week, we’ve had a lot of people asking about changes to proof-of-work, especially X11, or even moving to proof of stake, primarily in an attempt to address risk of a 51% attack. A 51% attack is where one actor (person, group, organisation, whatever) gains control of enough resources to be able to create their own blockchain, isolated from the main blockchain, at a rate at least as quickly as the main blockchain is being created. They can then spend Dogecoins on the main blockchain, before releasing their fake blockchain; if their fake blockchain is longer than the existing blockchain, nodes will switch to the new blockchain (as they would when repairing a fork), and essentially the spent Dogecoin on the main blockchain are reversed and can be spent again. This is mostly of consequence to exchanges and payment processors (such as Moolah), who are most likely to end up holding the loss from the double-spend.
The concern about a 51% attack stems from a couple of weeks ago now, when Wafflepool was around 50% of the network hashrate (mining power). It’s still high (at the time of wring about 32GH/s out of almost 74GH/s, or about 43%), but it is diminishing as a proportion.
Lets talk about proof of stake first, as this one’s simpler. Proof of stake has been suggested as a way of avoiding the risk of Wafflepool having control of too many mining resources by itself, by changing from securing the blockchain through computational resources (work), to using number of Dogecoin held. The theory is that those with most Dogecoins have most to lose, and will act in their own interests. Major examples of proof of stake coins include Peercoin, Mintcoin and more recently Blackcoin.
However, this essentially means we take control from Wafflepool, and hand it to Cryptsy (who are considered most likely to be the holder of some of the huge Dogecoin wallets out there). I by no means expect either organisation to attempt a 51% attack, but hopefully it’s clear that simply switching risks isn’t actually improving things. I’ve also had significant concerns raised from the merchant/payment processor community about potential impact of proof of stake, and that it may encourage hoarding (as coins are awarded for holding coins, rather than for mining). The price instability of Mintcoin and Blackcoin (and that Peercoin appears to only avoid this through very high transaction fees to keep the entire network inert) does not encourage confidence, either. For now, proof of stake remains something we’re keeping in mind, primarily in case price does not react as anticipated to mining reward decreases over time, but certainly we’re not eager to rush into such a change.
Before I get into a discussion on proof of work, let me summarise this quickly; right now, uncertainty about changes is holding back our community from adopting ASICs. It’s high risk to spend hundreds, thousands or in some cases significantly more on ASIC hardware which could be left useless if we move. Those who have already purchased ASICs to support the Dogecoin hashrate would most likely have to mine Litecoin to recover sunk costs, if we did move. ASICs are virtually inevitable, and in our assessment we are better off pushing for rapid adoption, rather than expending resources delaying a problem which will re-occur later.
At the time of writing the development team has no plans to change proof of work algorithm outside of the eventuality of a major security break to Scrypt. We are focusing on mitigation approaches in case of a 51% attack, and adoption of the coin as the most sustainable approaches to dealing with this risk.
The X11 algorithm has been proposed as an alternative proof of work algorithm. X11, for those unaware, was introduced with Darkcoin. It’s a combination of 11 different SHA-3 candidate algorithms, using multiple rounds of hashing. The main advantage championed for Darkcoin is that current implementations run cooler on GPU hardware. Beyond that, there’s a lot of confusion over what it does and does not do. As I’m neither an algorithms or electronics specialist, I recruited a colleague who previously worked on the CERN computing grid to assist, and the following is primarily his analysis. A full technical report is coming for anyone who really likes detail, this is just a summary:
A lot of people presume X11 is ASIC resistant; it’s not. Candidate algorithms for SHA-3 were assessed on a number of criteria, including simplicity to implement in hardware. All 11 algorithms have been implemented in FPGA hardware, and several in ASIC hardware already. The use of multiple algorithms does significantly complicate ASIC development, as it means the resulting chip would likely be extremely large. This has consequences for production, as the area of a chip is the main determining factor for likelihood of an error in the chip.
The short version being that while yes it would take significant resources to make an efficient ASIC for X11, for a long time Scrypt was considered infeasible to adapt to ASICs. As stated earlier, any move would most likely be nothing more than an extremely expensive and risky delaying manoeuvre. ASIC efficiency would also depend heavily on ability to optimise the combination of the algorithms; a naive implementation would run at around the rate of the slowest hashing algorithm, however if any common elements could be found amongst the algorithms, it may be that this could be improved upon significantly
There are also significant areas of concern with regards to X11. The “thermal efficiency” is most likely a result of the algorithm being a poor fit for GPU hardware. This means that GPU mining is closer to CPU mining (the X11 Wiki article suggests a ratio of 3:1 for GPU/CPU mining performance), however it also means that if a way of was found to improve performance there could be significantly faster software miners, leading to an ASIC-like edge without any of the hardware development costs. The component algorithms are all relatively new, and several were rejected during the SHA-3 competition for security concerns (see http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/documents/Round2_Report_NISTIR_7764.pdf for full details). Security criteria for SHA-3 algorithms was also focused on ability to generate collisions, rather than on producing hashes with specific criteria (such as number of leading 0s, which is how proof of work is usually assessed).
X11 is a fascinating algorithm for new coins, however I would consider it exceptionally high risk for any existing coin to adopt.
Beyond algorithm analysis, this week has been mostly about testing 1.7. Last weekend Patrick raised the issue that we had been incorrectly running the automated tests, which had led to several automated test failures being missed earlier. This led to other tasks being dropped as we quickly reworked the tests to match Dogecoin parameters instead of Bitcoin. So far, all tests have passed successfully once updated to match Dogecoin, however this work continues. On the bright side, it turns out we have a lot more automated tests than we realised, which is very useful for later development.
The source code repository for Dogecoin now also uses Travis CI, which sanity-checks patches submitted to the project, to help us catch any potential problems earlier, thanks to Tazz for leading the charge on that. This is particularly important as of course we’re developing on different platforms (Windows, OS X, Linux) and what works on one, may not work on others. Over time, this should be a significant time saver for the developers. For anyone wanting to help push Dogecoin forward, right now the most productive thing to be doing is testing either Dogecoin, or helping Bitcoin Core test pull requests. Feel free to drop by our Freenode channel for guidance on getting started with either.
Right now, I’m working on the full technical report on X11, and will then be back working on the payment protocol for Dogecoin. I’ve approached a few virus scanning software companies about offering their products for Dogecoin, with so far no response, but will update you all if I hear more.
Lastly, the next halvening (mining reward halving) is currently expected late on the 27th or early on the 28th, both times GMT. Given that it was initially expected on the 25th, we’re obviously seeing some slippage in estimates, and a total off the top of my head guess would be that we’ll see it around 0500 GMT on the 28th at this rate. I have taken the 28th off from the day job, and will be around both before and after in case of any problems (love you guys, not getting up at 5am to check on the blockchain, though!)
submitted by rnicoll to dogecoin [link] [comments]

DOGECOIN THE MOST POSSIBILITY TO BECOME WORLD DIGITAL CURRENCY IN 2018

as the post say, only the dogecoin qualifies to replace the Dollar. It has everything if you have read and research then I don’t need to dig deep.. 100 billion supply which will create a perfect balance among every one Not like BItcoin 0.0000002, it’s too hard to calculate for most things. Dogecoin has 5 billion inflation ratio for every year which is mind blowing. Biggest thing is 1 dogecoin=1 dogecoin. Never change.
submitted by lmoura to dogecoin [link] [comments]

7 Smart Ethereum Price Prediction Methods for HODL’ers

It is incredibly difficult to predict where the price of Ethereum will go.
This is not a matter of talent, or how "smart" you are - I mean, shit, you have possibly made a good deal of money investing in Ethereum. But now you have additional money to invest, and are unsure if now is the best time to buy.
Even the best Ethereum traders/investors in the world are left dumbfounded about when to invest.
Luckily, Ethereum price prediction tools have emerged that are helping investors and analysts better predict where Ethereum prices are going to go.

Why is it so difficult to predict Ethereum prices?

Putting a value on a cryptocurrency is fundamentally different from a stock.
Stock valuations are typically heavily based around one big component: cash flow. The most well-known methods for valuing stocks: DCF, Graham Formula and EBIT Multiples are all based in some form or another on cash flow and profitability.
Cryptocurrencies do not have cash flow, and thus it becomes impossible to use the traditional methods of stock forecasting. What this means is we have to find alternative methods for pricing this amazing technology.
I have outlined 7 different ways we can come to an Ethereum price prediction to help out future investing.

1. Chris Burniske's cryptoasset valuation, aka "I am very thoughtful in my analysis"

Chris Burniske of Placeholder capital and author of the book "Cryptoassets: The Innovative Investors Guide to Bitcoin and Beyond" recently released a very promising and thoughtful piece on Medium outlining a new way to value Cryptoassets.
The outline of the model is this:
Instead, valuing cryptoassets requires setting up models structurally similar to what a DCF would look like, with a projection for each year, but instead of revenues, margins and profits, the equation of exchange is used to derive each year’s current utility value (CUV). Then, since markets price assets based on future expectations, one must discount a future utility value back to the present to derive a rational market price for any given year.
Said a different way, the goal of the model is to derive the asset's utility (for example, Filecoin's utility is price per GB)and what that utility will look like in the future. Then, discount the utility value to what it would cost today.
The model does have a good amount of subjective inputs, so the price estimates I came up with varied significantly. I highly recommend heading over to the Medium piece and completing your own analysis.

2. Cost of Production Model, aka "The cake is a lie"

Initially created for Bitcoin, the cost of production model can be tailored for Ethereum. This analysis was completed by Adam Hayes in March 2015 at the New School for Social Research.The basis of the paper explains that pricing is not based on more traditional methods, but instead centered around the uniqueness of cryptocurrencies - mining statistics.
Directly from the paper:
Break-even points are modeled for market price, energy cost, efficiency and difficulty to produce. The cost of production price may represent a theoretical value around which market prices tend to gravitate.
The authors did state that certain factors such as future technology and utility may prove to be more valuable than the coin in and of itself. These factors could prove challenging for putting a true value on a cryptocurrency.

3. Economics of Price Formation, aka "I am most likely smarter than you"

The Economics of Price Formation method captures the relationship between BitCoin price and supply-demand fundamentals of BitCoin, global macro-financial indicators and BitCoin’s attractiveness for investors.
Written by Pavel Ciaian, Miroslava Rajcaniova, and d'Artis Kancs, the bones of the analysis focuses on vector autoregression (VAR) which I am definitely not covering here. However, the finding of the paper suggests that:
BitCoin market fundamentals have an important impact on BitCoin price, implying that, to a large extent, the formation of BitCoin price can be explained in a standard economic model of currency price formation.
Since the inputs used in the paper are the same, the findings can be carried over to Ethereum. Also of note, is that one of the main inputs of the 1st method, velocity, is also used in this paper.

4. Compound Annual Growth Rate (CAGR), aka "I work in Finance"

Borrowed from the financial world, CAGR seeks to estimate the size of an industry (or in this case, market cap of Ethereum) over a period of a few years.
The cryptocurrency world is expected to grow by 35%, based on CoinDesk data. Using this data, we can estimate what the market cap of Ethereum will be in five years. The required inputs are:
As of 10/23
  1. Current Market Cap ($27B, sourced from CoinMarketCap)
  2. Available supply of coins (95M, sourced from CoinMarketCap)
  3. CAGR (35%, from CoinDesk)
  4. Coin inflation, or anticipated coins (1%, per Ethereum whitepaper)
I have provided a handy Google Sheets spreadsheet utilizing the Spreadstreet Google Sheets plugin to automatically bring in coin information for the calculation. You can find that sheet here:
https://docs.google.com/spreadsheets/d/1HJ8ibUUs8k6vhUyUo7u7jq0nKS0CIb5E7Wti4_zJdCI/edit?usp=sharing

5. Max Market Cap, aka "Ethereum will grow to be bigger than Bitcoin"

Max market cap is a theoretical maximum that is calculated taking the market cap of the most popular coin (in this case Bitcoin) and plugging it in for a seperate cryptocurrency.
In the Ethereum example, the formula is very simply:
Available Coins (Ethereum) / Market Cap (Bitcoin)
This results in a max theoretical value of $1,038 for Ethereum, which as of 10/23 would be a 364% increase. This analysis gets really hilarious when you start using some of the less popular coins such as BAT (46,000% increase) and the useless Dogecoin (88,000% increase). Take with a grain of salt, but still very interesting to see.

6. NVT Ratio, aka "I also sometimes engage in technical analysis"

NVT Ratio is another valuation methdology outlined by Chris Burniske, albeit at a much simpler calculation method.
The calculation is:
Network Value / Estimated Transaction Volume
Where I differ from Chris' advice is I tailored the calculation to give me the value of Ethereum if it were to hit it's max historical peak. For this example, the 30-day trailing average of transaction volume in the last year peaked on December 16th, 2016 at ~126. If we take the current daily transaction volume of ~$498M, this gives us a new market cap of $63B (126 * $498M).
Using this new market cap of $63B, if we divide that by the current supply of 95M, we get a new price of $664.

7. Dartboard, aka "Go f**k your methods, I don't need you"

Because, the dartboard method of Ethereum price prediction is honestly better than most of the crap out there. HODL.

How you can implement these methods with the valuation spreadsheet

The spreadsheet can be setup to update as often as you like by using the following instructions:
  1. Download the Spreadstreet Google Sheets add-in
  2. Click the Google Sheets link here. In the new window, click File - Make a copy.
  3. Important Open the template, click the menu Add-ons / Spreadstreet / Help / View in store, and then click Manage and in the dropdown menu click Use in this document.
  4. All formulas should update as expected. If not, try refreshing the sheet
The sheet includes CAGR, Max Market Cap, and NVT Ratio. The sheet does not include the cryptoasset valuation, cost of production model, or the economics of price foundation as those methods are significantly more involved. This sheet also does not include the dartboard method, as that requires a physical dartboard.
Good HODL'ers aren't sprinters. They choose each and every investment with care. They know the rules. But they also know how to break the rules. Deliberately. Emphatically. Ruthlessly.
Original Medium post can be found at: https://medium.com/@spreadstreet/7-smart-ethereum-price-prediction-methods-for-hodlers-7f08aad60cb1
John
submitted by 1kexperimentdotcom to EthAnalysis [link] [comments]

Dogecoin Buyers Club

Here is my verdict. Your mileage may vary. This is me thinking out loud so that you can make up your own mind. Don't hold me responsible for anything. So there's that.
The battle of dogecoin takes place at the btc-to-doge trade at Poloniex. Every other exchange is secondary. Short term.
Usually when dogecoin rises on Poloniex, shorters go to work lending dogecoin and sell, sell, sell into the buy wall ('Shorting', for short, is earning money by betting that dogecoin will lose value, and, on Poloniex, also to make it actually happen). Equally usual, the shorters enjoy the sudden influx of whale-size dogecoin amounts rushing in to help the shorters even more. The dogecoin blockchain tells this every time.
But yesterday the whale cavalry never came (not for 11 hours at least, had to nap after that). Easily seen by viewing every single block (true story) and its transaction numbers/amount ratio as it actually happened. I could, for most of the time, only spot happy shibes transferring non-disturbing amounts.
This is no rocket science, really, but manually viewing the blockchain is paramount in order to get past all the other fun-facts-but-worthless-statistics when it comes to shorter mitigation.
Currently the shorters are being stock raving mad about their shorts potentially failing. So they double down on their efforts. Throwing more and more money into this shorting carousel. Tripling down. Quadrupling down even. As it seems to me.
So. If you care to buy dogecoin using bitcoin. AND care for the dogecoin value to rise:
-Do it on Poloniex.
-Watch every block on the dogecoin blockchain. Get aquainted with the ratio between number of transactions and the grand total sum of every block.
-Play defense while online and monitoring your trades, by placing buy orders only.
-Remember to watch out for 2nd level verification at Poloniex. Maybe it is better to forget the notorious Poloniex hassle and only trade within the 1st level verification money limit.
-After buying dogecoin, get it the hell out of Poloniex. Exchanges are not your personal wallet for all eternity. Countless people lost their money that way.
-Don't lend your dogecoin to the shorters of Poloniex. Shorters are using it to decrease the dogecoin value, remember?
Lastly about the headline. 'Dogecoin Buyers Club' is a play with words referring to the film Dallas Buyers Club'. Referring to the fact that it is possible to work together in order to achieve something. In this case the proposal of buying dogecoin on Poloniex only.
You. Of course. Do whatever. Thanks.
Edit: Pro tip: Close the Poloniex trollbox while making strategic trading decisions. And after deciding, stick to what you decided. Wars are won before the battles.
Edit2: "To meet the increasing demands on support staff, the Trollbox has been disabled indefinitely and moderators have been reallocated to assist in support." Trollbox gone on Poloniex could mean that shorters must monitor dogecoin more closely for any movements. Moreover, if you are watching dogechain blocks, please click next block links, evaluate what you are experiencing, and finally refresh until 'None' turns into a link to a the latest created block.
submitted by Shibelion to dogecoin [link] [comments]

Why the price of DOGE is falling and will continue to. SUCH MAFFS. SO LOGIC. WOW.

TLDR; Dogecoin is one of the most profitable coins to mine, so people are mining and dumping for profit. Will probably still drop by ~10-25%. Woof. http://i.imgur.com/NRVOtRI.jpg
A lot of people are posting about the price of Dogecoin and are concerned with its price. There is speculation that is misleading and not backed up by much theory. It’s not just as simple as supply and demand, panic selling or the line of best fit on a graph. Let’s look at the maths and see why the coin is dropping so rapidly and why now.
MAFFS
The difficulty of mining a block of DOGE currently ranged from 300-400 [1], the higher this goes the less coin you will mine. To make things simple let’s run an example: Assume you have 1000kHash of digging power; with that you could mine at the current difficulty level approx. 30,000 DOGE a day [2]! The value of Dogecoin is tightly tied to Bitcoin, we first convert it to BTC and sell that. The price for a single DOGE is roughly 0.00000040 BTC [3] and a BTC is worth around $850 [4]. In our 24 hours of work we earn $10.20 (0.00000040 * 30000 * 850). Wow. Such pawfit.
Now compare this to the ‘standard’ of scrypt mining, Litecoin. For the same time and strength of your digging you would yield around $8.50. If you were only interested in profit you would mine DOGE and sell it because it made you the most profit for your hashrate. A lot of people are doing this, including multicoin pools, they mine the most profitable coin and convert it to BTC. It’s simply efficient. This means that there is a huge dump of coin on the market and the price will fall.
SPECULATION
When will the coin stop dropping in price? When it is no longer the most profitable coin, so probably around 0.00000030 to 0.00000035 BTC. At this price the profitability is too low to reward these types of miners. Alternatively, if the difficulty was to increase then the amount of coins earned (EDIT: coins per person, overall supply per time is constant! More miners = lower split per miner) would be reduced and the profit margins would also decrease, I’d estimate the difficulty would need to be around 450 to 500 to balance out. The difficulty increases if more people mine the coin, and at this point that will be depending on popularity.
Sure a few people are panic selling but comparatively this is a drop in the ocean and even so it will just help the coin reach its stable price a little faster. Anybody who wants to see the coin succeed is already doing what they need to, they are not concerned with the price, remember to have fun!
Another point to note is that over the last few days the price of BTC has risen, and so even if the price of DOGE was stable the exchange ratio for DOGE->BTC would still show a fall – this is slightly misleading and the fall in price is not as hard as it seems!
So what can you do? Wait. The price will level out and over time the difficulty should increase with popularity and in around 1-2 months the reward will halve, I'd expect a big peak in price around that time. The coin is young and popular; it needs to learn the Earth before it can go to the Moon.
Sources: [1]http://www.cryptocoincharts.info/v2/coins/show/doge [2] http://www.coinwarz.com/calculators/dogecoin-mining-calculator [3]https://www.cryptsy.com/markets/view/132 [4]http://bitcoinity.org/markets/mtgox/USD 
submitted by Piedo_Bear to dogecoin [link] [comments]

List of Today's and Tomorrow's Upcoming Events

I am a bot and my goal is to bring you upcoming events/announcements every day. If you want improvements to this post, please mention houseme in the comments. We will make improvements based on your feedback.
 
I am part of a family of bots/apps that help you get the events the way you want.
Web | Android | iOS | Telegram Interactive Bot (add cryptocalapp_bot) | Telegram Channel @kryptocal
 

NEXT DAY UPCOMING EVENTS

 
Title Date
OctoinCoin (OCC) Vietnam Conference February 15, 2018
Ripple (XRP) CoinField Adding XRP February 15, 2018
Ripple (XRP) Listing on CoinField February 15, 2018
Listing on Coinfield February 15, 2018 [Unconfirmed]
NEM (XEM) NEM Conference February 15, 2018
Litecoin (LTC) Listing on CoinField February 15, 2018
Stellar (XLM) FairX Exchange BETA February 15, 2018 [Unconfirmed]
Dash (DASH) Listing on CoinField February 15, 2018
Bitcoin Gold (BTG) Official Sponsor of the 2018 CaseIT Competition February 15, 2018
WAX (WAX) D10e Conference February 15, 2018
Hshare (HSR) Hcash Main Chain launch February 15, 2018
Decred (DCR) - Amsterdam Meetup February 15, 2018
Iconomi (ICN) January Monthly Update February 15, 2018
Mobile Wallet February 15, 2018 [Unconfirmed]
Emercoin (EMC) OKEx Listing February 15, 2018
Counterparty (XCP) (CIP6) P2SH Data Encoding February 15, 2018
Counterparty (XCP) CIP 10 – MPMA February 15, 2018
New Platform Release February 15, 2018 [Unconfirmed]
GV Traders Challenge February 15, 2018 [Unconfirmed]
Bounty0x (BNTY) Alpha 2.0 Launch February 15, 2018
TaaS (TAAS) D10e Conference in Redwood City, USA February 15, 2018
Publica (PBL) SF Writers Conference February 15, 2018
Publica (PBL) Meet Publica at San Francisco Writers Conference February 15, 2018
Playkey (PKT) HitBTC Listing February 15, 2018
Neutron (NTRN) Marketing Boost February 15, 2018
Neutron (NTRN) Network Update February 15, 2018
LUXCoin (LUX) Segwit & Smart Contract February 15, 2018
LUXCoin (LUX) - Pre-Mine Burn February 15, 2018
LUXCoin (LUX) - Marketing Phase 2 February 15, 2018
Bimonthly Updates February 15, 2018
Social (SCL) Marketing February 15, 2018
Octanox (OTX) Mobile Wallet Release February 15, 2018
CarTaxi Token (CTX) Monthly Bonuses + Burn February 15, 2018
Adelphoi (ADL) ADL Swap to ETH February 15, 2018
XCXT Airdrop February 15, 2018
Big Partnership February 15, 2018
Big Partnership February 15, 2018
Partnership with SJM Holding February 15, 2018 [Unconfirmed]
Big Parthership with SJM Holding February 15, 2018 [Unconfirmed]
Android Wallet Release February 15, 2018 12:00 AM - February 28, 2018 11:59 PM [Unconfirmed]
Listing on NAIRA February 15, 2018 12:00 AM - February 19, 2018 11:59 PM [Unconfirmed]
StrongHands (SHND) Hard Fork February 15, 2018
BitDegree (BDG) BitDigree Tokens Distribution February 15, 2018
Odyssey (OCN) Large Exchange Listing February 15, 2018
Governance Forum February 15, 2018 12:00 AM - February 18, 2018 11:59 PM
BITCOIN ($BTC) ANARCHAPULCO February 15, 2018
Genesis Vision (GVT) GV Traders Challenge February 15, 2018 3:00 PM - 11:59 PM
Monthly Dev Update + Q&A February 15, 2018 9:00 PM - 11:59 PM
ETHEREUM ($ETH) ETHEREUM DENVER HACKATHON February 16, 2018
TRON (TRX) Peiwo App Completes TRX Connection February 16, 2018
TRON (TRX) Platform release February 16, 2018
TRON (TRX) TRON Union Peiwo February 16, 2018
Qtum (QTUM) Airdrop for QTUM holders February 16, 2018
Beta Desktop Wallet February 16, 2018 [Unconfirmed]
Crypto Emporium Payments February 16, 2018
Listing on Crypto Emporium February 16, 2018 [Unconfirmed]
Stratis (STRAT) - Bitcoin Super Conference February 16, 2018 12:00 AM - February 18, 2018 11:59 PM
Dogecoin (DOGE) Q&A February 16, 2018
Status (SNT) EthereumDenver hackathon February 16, 2018
WAX (WAX) Bitcoin Superconference February 16, 2018
Basic Attention Token ($BAT) Hackathon February 16, 2018 12:00 AM - February 18, 2018 11:59 PM
SALT (SALT) Bitcoin Superconference February 16, 2018
PIVX ($PIVX) Superconference in Dallars. Taxas February 16, 2018
Request Network (REQ) Project Update February 16, 2018
Enigma (ENG) Enigma Infographic Contest February 16, 2018
TenX (PAY) Bitcoin SuperConference February 16, 2018
Storj (STORJ) Workshops & Giveaways February 16, 2018
Decision Token (HST) Horizon State Design Contest Ends February 16, 2018
Bread (BRD) Bitcoin Super Conference February 16, 2018
Wings (WINGS) Bitcoin Super Conference February 16, 2018
LBRY Credits (LBC) Blockchain Conference February 16, 2018
Wagerr (WGR) Mainnet Launch February 16, 2018
Wagerr (WGR) Mainnet and Masternodes February 16, 2018
Bitcoin Super Conference February 16, 2018 [Unconfirmed]
Bitcoin Super Conference February 16, 2018 [Unconfirmed]
Rivetz (RVT) Bitcoin Superconference February 16, 2018
Whitepaper Release February 16, 2018
ColossusCoinXT (COLX) WhitePaper Draft February 16, 2018 [Unconfirmed]
Airdrop February 16, 2018 [Unconfirmed]
Bitcore Contest 2: Submission Deadline February 16, 2018 [Unconfirmed]
Bodhi (BOT) Bodhi Airdrop QTUM Holder February 16, 2018
The Bitcoin, Ethereum & Blockchain Superconference in Dallas, USA February 16, 2018 [Unconfirmed]
HTMLCOIN (HTML5) Deadline 1:1 Swap Ratio February 16, 2018
TIES Network (TIE) NYC Decentralized Blockchain Database Event, USA February 16, 2018
Safe Exchange Coin (SAFEX) Listing on Next.Exchange‏ February 16, 2018
HARD FORK February 16, 2018 [Unconfirmed]
Flash (FLASH) Monthly Dev Update + Q and A February 15, 2018 9:00 PM - 11:59 PM
Meetup In New York February 16, 2018
BITCOIN ($BTC) SUPER CONFERENCE February 16, 2018
Octanox (OTX) Andriod and iOS Wallets February 16, 2018 4:00 PM - 11:59 PM
 
submitted by cryptocalbot to CryptoCurrency [link] [comments]

SALT Lending: Use Bitcoin, Litecoin, DogeCoin to Collateralize Fiat Loans

SALT Lending is a platform where Bitcoin, Ethereum, Litecoin, DogeCoin and USD Coin coin holders can leverage their digital asset ownership for cash. There are no origination fees and loan amount start from $5,000. At the time of press, a $10,000 loan requires one to deposit 8.87 BTCs with an $866.11 monthly repayment at a 30 percent Loan-to-Value (LTV) ratio.
Read about Salt Lending Here: https://ecoin4dummies.com/salt-lending-btc-litecoin-dogecoin-loans/
submitted by anaecoin4 to SaltTrader [link] [comments]

**DigiByte giveaway for our Doge friends**

. [ GIVEAWAY NOW CLOSED ] . Become part of the fantastic DigiByte community today and the team at DigiByte Store will reward you with your first 50 DigiBytes for free to start you off. Keep reading to find out how. . About DigiByte . DigiByte is a professional & transparent decentralized cryptocurrency that has been designed to address several of the weaknesses of Bitcoin & Litecoin. It is a secure world-wide decentralized payment network, inspired by Bitcoin but with many enhancements and extra features. You send & receive DigiBytes much like PayPal & Western Union transfer money but with vast improvements, including lightning fast transactions with minimal or no fees. . We are now seeing the death of the common home based Bitcoin miner, and the emergence of large ASIC mining companies. The development team felt this centralization of hash power goes against the main principles upon which Bitcoin was created. Given this reason and others they have decided to use Scrypt with DigiByte and implement the innovative DigiShield which is quickly being adopted by other coins such as Dogecoin to protect against multi-pool attacks. . Why use DigiByte? . 1) Speed: DigiByte is blazing fast! Much faster than Bitcoin & Litecoin, and fast enough to buy coffee from a merchant in just a few seconds with the press of a button on a smart phone! . 2) Transactional Currency: With 21 billion coins, DigiByte will primarily become a worldwide currency traded for goods & services, and not a volatile speculative commodity like Bitcoin. DigiByte has a natural ratio of 1BTC:1000DGB to Bitcoin. This means that if Bitcoin is worth $1,000 DigiByte should be worth $1 -$10; a perfect price for buying goods & services. No one likes to look in their wallet and see that they have 0.001 coins; 1,000 DigiBytes are much more appealing. . 3) Community: DigiByte was planned and designed for over a month before launch. Since then, the community around DigiByte has continued to grow and contribute to its success. . 4) Fair Launch: DigiByte was announced more than 3 days ahead of time. It was delivered at the exact minute advertised with a countdown timer for a fair launch. Over a half million dollars in hardware were thrown at the network in the first few minutes alone. . 5) Transparency: The pre-mine of DigiByte is publicly posted and is used to further the long-term success of DigiByte. . 6) DigiByte Name: You store data in megabytes & gigabytes. Why not store money in DigiBytes? . Pre-Mine Details: . 52.5 million DGB for giveaways over first two months to encourage adoption of DGB. Giveaway address will be publicly posted on website with a public record of all transactions. . 52.5 million DGB for development expenses to further DigiByte and help it become a mainstream currency. Development account address will be publicly posted on website with a public record of all transactions and their purpose. . Our goal is to be transparent and accountable with the 0.5% pre-mine to ensure a bright future for DigiByte. (Pre-mine is now effectively only 0.2%) . Pre-Mine Accounts: . Giveaway Account: Address available on http://www.digibyte.co/pre-mine-accounts Initial Balance: 52,500,000.00 DGB Current Balance: 00.00 DGB . Development Account: Address available on http://www.digibyte.co/pre-mine-accounts Initial Balance: 52,596,000.00 DGB Current Balance: 45,000,000.00 DGB . About the DigiByte Store . The DigiByte Store was set up primarily to make DigiBytes easily accessible to as many people as possible around the world, by allowing people to purchase their desired amount of DigiBytes in their preferred currency, securely by using a PayPal account. The purchased amount of DigiBytes will then be sent to the chosen wallet address supplied. This service makes it easy and safe for anyone that is new to cryptocurrency to get their hands on their first few coins. It also provides a more convenient option to experienced users as they no longer have to deal with the hassle of purchasing through exchanges. . The giveaway! . For you to get your hands on your first 50 DigiBytes free of charge you need to follow the few simple steps below: . 1) Download a wallet to put you DigiBytes in either from www.digibyte.co or www.digibytestore.co. Wallet download links are available on the homepages of both sites. Choose the correct download for the platform you are using e.g. Windows, Mac OSX, Ubuntu, Android (For smartphones and tablets etc.) . 2) Once you have downloaded a wallet you need to open it to let it synchronize with the blockchain. This will happen automatically when you open your wallet and may take a bit of time the first time you open it. . 3) Copy your wallet address from your wallet by clicking on the ‘Receive coins’ button, highlight your wallet address by clicking once on the wallet address below and then click the ‘Copy Address’ button at the bottom of the page. The address will look like a long string of letters and numbers. . 4) Paste your wallet address into an email and send it to [email protected] to get your 50 DigiBytes sent to your wallet. . If you have any problems please contact [email protected] and we will be more than happy to assist you further. . To get your hands on more DigiBytes why not visit the DigiByte Store to top up your wallets. . Why not subscribe to the DigiByte subreddit (http://www.reddit.com/Digibyte) to stay up to date with the exciting new things that are happening. . Thank you for your support Doge friends! . The DigiByte Store Team
submitted by gaza1512 to dogecoin [link] [comments]

SALT Lending: Use Bitcoin, Litecoin, DogeCoin to Collateralize Fiat Loans

SALT Lending is a platform where Bitcoin, Ethereum, Litecoin, DogeCoin and USD Coin coin holders can leverage their digital asset ownership for cash. There are no origination fees and loan amount start from $5,000. At the time of press, a $10,000 loan requires one to deposit 8.87 BTCs with an $866.11 monthly repayment at a 30 percent Loan-to-Value (LTV) ratio.
Read about Salt Lending Here: https://ecoin4dummies.com/salt-lending-btc-litecoin-dogecoin-loans/
submitted by anaecoin4 to eCoin4Dummies [link] [comments]

Dogecoin Gold

An idea I've been brewing after the Bitcoin cash fork is doing something similar but opposite for Dogecoin. Dogecoin gold would be an investment with limited supply that's only traded in dogecoin. It would be distributed to those who have dogecoin at a ratio of 1000 to 1, so 1 dogecoin gold for every 1000 dogecoins. I think that would put the supply a little over 110 million. I think it would be a good way for investor shibes to have a version of dogecoin to invest in. It would also be a store of value which would create a usage for Dogecoin currency as a means to purchase dogecoin gold. So it would increase dogecoin usage as a currency, increase new users and create a version of dogecoin that is an investment. Does this seem like a good idea? Also it would stop people from asking for razzle dazzle new features in dogecoin since we all know that it doesn't need it.
submitted by virgojeep to dogecoin [link] [comments]

The $.20 Dogecoin

Ok, so I've been crunching some numbers based on the success of bitcoin. While it is still a very volatile. There are about 12.5 million BTC in circulation which means that there are only about 8 million BTC left to be mined. As we all know, it is exceedingly rare at this point to mine an actual full bitcoin.
At the height of the BTC valuation, BTC was around $1,200, the market cap for the entirety of BTC was about $14.5 billion. As of today December, 18th it's at $6.9 billion. This is not a traditional market correction as it was induced by a government decision in China. There was a change in demand induced by the loss of its utility. This would be the equivalent of the government banning the use of credit cards at restaurants which would cause the share prices of the credit card companies to tumble. The fundamental demand for the currency is still there. It's just that without legitimacy in the world's most populace country, the currency will suffer a real lack of demand pushing prices downwards. The speculation might drive the prices up but uncertainty about government regulation is having a much bigger effect pushing prices downwards.
That being said, crypto-currencies will continue to grow. About 9/10 people I talk to have no idea what Bitcoin even is. While anecdotal evidence, I suspect this is true for most people outside of the tech world. What that means is that there are serious long term growth prospects as crypto-currencies gain not only legitimacy but every-day use by the populace.
It's not hard to see bitcoin going back up to $1,000 in value or beyond and being sustained at that price. Supply of bitcoins is diminishing faster than the acceptance and demand is increasing. Given that there are going to be 100 billion Dogecoins, what would happen if Dogecoin reached a market cap similar to bitcoin? Well at a ratio of 12.5 million BTC to the current 15 billion Dogecoins, at the $14.5 billion market cap, Dogecoins would have a value of about $.243. At the more reasonable $1,000 per BTC, Dogecoins would have a value of $.209.
Now, this may seem like a really far stretch to say that Dogecoin could achieve a $14 billion market cap and the influx of new coins would surely devalue the price of a Dogecoin. Which means that Dogecoin, in this scenario, would likely fall to about $.05 considering a 4x increase in supply due to mining. It's not, however, unfeasible for crypto-currencies in general to become at least a minor part of the world currency. As of 2008, there was over $4 trillion in circulation. If crypto-currencies become even 1% of the global market, that is a $40 billion market capitalization. Bitcoin only reached slightly more than a third of that in its height. This is a long term growth market that will continue to see more and more acceptance.
Here's where I think Dogecoin has an advantage over bitcoin. At the price of $.20, it is what the name implies, a coin. It would almost be equivalent to a quarter in value. This could lead to more mass appeal than a $1,000 bitcoin. It seems almost like the case of Berkshire Hathaway's stock being valued at over $174,000 a share. It's fairly priced but no average consumer could even afford to buy just one.
Edit: Just had an interesting thought experiment in my head about pegging a crypto currency such as this to a fiat currency such as the dollar. The mining could still be done but the gains would be through transaction fees and through arbitrage when the value of the crypto-currency exceeds or falls below the value of the pegged fiat currency. The central agent could just mint new coins when there's an excess of value and buy up coins when there is deficient value similar to how an ETF works, or in essence, the Fed. All in all, it would create an incentive to actually use the currency to buy stuff but would deter investors. It would probably steal away the Silk Road crowd since it would be a more practical currency
submitted by acaraballo21 to dogecoin [link] [comments]

SALT Lending: Use Bitcoin, Litecoin, DogeCoin to Collateralize Fiat Loans

SALT Lending is a platform where Bitcoin, Ethereum, Litecoin, DogeCoin and USD Coin coin holders can leverage their digital asset ownership for cash. There are no origination fees and loan amount start from $5,000. At the time of press, a $10,000 loan requires one to deposit 8.87 BTCs with an $866.11 monthly repayment at a 30 percent Loan-to-Value (LTV) ratio.
Read about Salt Lending Here: https://ecoin4dummies.com/salt-lending-btc-litecoin-dogecoin-loans/

submitted by anaecoin4 to Crypto_General [link] [comments]

[Shibenomics 101] Market Cap? GDP? PPP? Moon???

So there's been an unbelievable multitude of threads ranging from "Shibes, is Ð1 = $1 possible?" to "Shibes, Ð1 can never be $1, stop dreaming."
first of all, never tell a shibe not to dream.
second of all, much much more than the ratio of dogecoins to bitcoins to dollars determines the exchange rate of a currency, and that is the subject of today's shibenomics lesson.
Everyshibe has probably heard of GDP, but to define it very quickly - the gross domestic product is the value of all goods and services produced in an economy over a period of time. Normally, GDP is calculated per year, but for the analysis in this article and dogecoin in general, i find it more constructive to think of GDP per day.
Now, how can we possibly find out what the GDP of dogecoin is? The USD has a whole bureau of economic analysis to do that and they still get it wrong half the time...
Herein lies one of the many beauties of the blockchain. The block chain is like a public ledger of every transaction in dogecoin, EVER - which means we can just find the last block with a transaction on Wednesday, January 15th, and the last block with a transaction on Thursday, January 16th, and every transaction in between is part of the GDP for Jan 16th.
note: shibes already versed in economics will point out that some of these transactions may not be for goods and services, but rather conversions from USD or BTC, and some of them may be double counted because they are buying an ingredient for something they plan to sell later for more dogecoins - these objections are somewhat correct, but systematically overestimating GDP means you can still measure GDP change over time, which is what we're really concerned about, and conversions from other currencies are our equivalent of exports
So, as of now, our GDP on January 16th was a whopping 46,793,497,531 DOGE ($18,078,761 USD). Before you object about pay-it-forward threads and tipping and such, let me remind you - tips are a micro-transaction for a service (the service of making you smile :) ) and pay-it-forward threads are the shibe version of state-sanctioned lottery - which is the service of gambling. Now, gambling and entertainment an economy do not make, but 18 million dollars is a pretty big deal. Only bitcoin, litecoin, and quarkcoin have higher GDPs per day than dogecoin, and among those only dogecoin has a reasonably sustainable average transaction value (~$200 vs >$8000).
Ok, so now we know dogecoin has a GDP, and that shibes can feel pretty good about it. Even more impressive, dogecoin GDP has grown from $6.74 million on December 18th to $18 million today - 3.22% per day - at current growth rates, our GDP this time next year would be $1.78 TRILLION (11% of the US economy). Now this is probably unsustainable, but even growing at 20% of our current growth rate for a year would leave us only behind bitcoin in GDP per day.
Now let's consider market cap - the first thing that is striking about dogecoin isn't that its 6th most valuable in terms of market cap - its that dogecoin is the only crypto who's GDP exceeds its market cap, and that too by a whopping 62%. This means that for every 1 dogecoin you spent today, 61.7% of that dogecoin was passed on, and then passed on again, and so on. The velocity of money in the doge economy is ludicrous, and it confers a high degree of stability unto our economy, so kudos all around! A fast velocity of money not only helps fight changes in prices, it also makes it possible to post very high GDP numbers without having a large monetary base.
Apart from this, its also worthwhile to note that our market cap in USD has grown by around 3.6% per day, while the number of dogecoins added to circulation grows by around 2% per day - so despite all the mining, dogecoin has been appreciating in value quite rapidly in value.
On a more theoretical note, it is worth spending a moment to consider PPP (purchasing power parity). In high school economics, PPP means that a big mac in the United States should cost the same amount of real value as a big mac in China, and that the exchange rates will move to reflect that reality. In reality, PPP is more of a goal than a law - it's pretty hard to buy a big mac in China and bring it to the United States so that you get your food cheaper at lunch. In cryptoworld, however, PPP is the law - a bitcoin must cost the same amount in litecoins, dollars, and dogecoins, and the exchange rates will change to reflect that. PPP has so far been strongly determined by the BTC, LTC, DOGE triangle, as there is still not a large volume USD/DOGE exchange to allow arbitrage between the USD/BTC/DOGE (arbitrage is the force that makes PPP a law). Thankfully, a DOGE/USD exchange is probably just around the corner, and so soon we should see DOGE/USD and DOGE/BTC stabilize a bit because of this.
PPP also extends to the world of mining - a kh/s mined on one currency will try to be worth as much as a kh/s mined on another currency - the best example of this is multipool. Right now, it is highly profitable to mine dogecoins because of the strong economy & exchange rate and the low block difficulty, compared to other alt coins relatively weak exchange rates and higher difficulties. Each coin has a predetermined global hash rate it will support based on its coin reward and target block time, and uses the difficulty to keep the reward & timing schedule intact.
What this means is that as more miners work on dogecoin, it becomes less profitable to mine doge unless its value relative to the other cryptos goes up - and this is the cause for the cycles of highs and lows we see in DOGE/BTC. These cycles will probably not stop after the February 14th block halving, but they will be occuring at higher and higher valuations.
It's a point of shibe pride to mention that of all the cryptos, dogecoin probably has the least wealth concentration - the top 100 transactions in dogecoin are only 3.15% of the daily transaction value, whereas for other currencies that number can reach near 50%.
In conclusion, it'll probably be disappointing to hear that I have no clue where DOGE/USD or DOGE/BTC will be in a week, much less when it will hit 1 dogecoin per 1 USD. What I can say, and what should be evident from the numbers, is that dogecoin is developing a strong economic foundation unlike any of the other altcoins, and is much less seedy than bitcoin's early economy. Some of the core difficulties of dogecoin going forward are going to be maintaining our ludicrous velocity of money, which means finding and developing new markets for tipping, diversifying our economy away from mainly tipping while keeping a focus on micro-transactions, and creating a more effective store of value besides hoarding coins in a wallet or giving them away in PIF threads and waiting for them to come back.
TL;DR - TO THE MOON!
statistics used in this article are available on: http://bitinfocharts.com/
submitted by kwickymartkidd to dogecoin [link] [comments]

2017: Rise of the Altcoins

Fee's are so high they have opened a market opportunity for altcoins. Not only are Bitcoin fees high the ratio of the transaction fee to cost of node operation is shrinking (meaning the average cost of one transaction is approaching the approximate cost to run a full node for one month. 1:60 or $0.30:$18).
Wallets such as Coinomi, Jaxx, Exodus support multiple altcoins. Hardware wallets such as Ledger, Trezor and KeepKey as well. One backup recovery phrase covers all the altcoins in your wallet. So there is minimal barrier to entry for each additional altcoin.
Make no mistake the "fee event" has now occurred and we are in a new economic paradigm. This paradigm is Bitcoin as gold the ultimate store of value. Not Bitcoin as a day-to-day currency. This opens a gap that can be filled with Litecoin, Dogecoin and Dash the three universally supported altcoins. Smaller value transfers can occur on those networks. Shapeshift magnifies the convenience of this new world.
Real uses of those three altcoins will fuel speculation in lesser coins and investment in next generation coins (Monero, Dash, Zcash, Ethereum, Storj, etc).
Some will say Lightning Network will be the path to scaling but I remain skeptical because it requires deposits in channels and counterparty risk.
The market will decide whether altcoins or Lightning Network is easier to understand and deploy. However, multiple altcoin wallet support is already in use today. So one path has a headstart.
submitted by pointbiz to btc [link] [comments]

Uh, I’m Marketing Specialist (Guerrilla)

Uh, I’m Marketing Specialist (Guerrilla)
I’m so glad you brought this up! It’s the one thing that LTC lacks in and it’s ironic because LTC is the only coin deserving of a full-time marketing team. I think people are starting to finally realize that it’s all about the marketing, word of mouth and branding in crypto. To put this into perspective as a self-funded/semi-retired internet entrepreneur, I’ll tell you exactly what caused my successes and failures. Initially (when I was young), I would launch a service or product in which I used 90% of the budget for development and 10% left over for marketing resulting in failure. At this point if I ever launch a new product or service online 70%+ of the entire budget would be allocated towards the marketing, so I can’t stress the importance of this. 1 million CNY ($150k) applied to a dev team is absolutely incredible, but LTC desperately needs a monthly marketing budget as well. It would be fantastic if these Scrypt mining manufactures or farms could consider that expense the cost of doing business. $5k a month starting budget could really do wonders for creating awareness.
You can see here that we desperately need to address this issue: (sleeping giant) https://www.google.com/trends/explore?q=litecoin
There’s really no need for a DM regarding the marketing unless someone is brought on to manage a campaign, but I would like to give feedback publicly on what I’ve seen so far (since I’m all about community/transparency and appreciate feedback). I can be very direct and hurt people’s feelings, but the only thing that matters is the success of LTC for the sake of humanity (financial freedom from total economic enslavement), so here are my thoughts below.
1.) Current Slogan. I’d like to first go over the silver analogy since Xinxi mentioned it earlier in a reddit post. Right off the bat there are pros and cons that I see with this association.
Pros: During a BTC pump breaking ATH’s it is very beneficial being known as the Silver to Bitcoin’s gold as we’ve already seen demonstrated with the pump in late 2013. People feel that they missed the BTC boat and turn to an alternative that is underpriced and somewhat similar to BTC. Bitcoin paves the infrastructure path while Litecoin trails behind receiving all the benefits, such as the hardware wallet support. It positions Litecoin as a “non-threating” alternative to Bitcoin and acts as a logical trading pair. If you like BTC, then theoretically you should like LTC as well. The Bitcoin association to a digital gold is very powerful because many cultures still understand it as a monetary metal throughout history. I remember in 2011 the BTC community was really pushing that deep psychological comparison. In 2013, Bitcoin hit parity with gold reaching $1,200 and LTC at $48 which is also very similar to what we saw with physical silver. That was not by accident, but now that BTC has hit that objective I don’t hear thought leaders comparing it too gold much anymore and they claim one Bitcoin will be worth 1 million dollars feeding into that gold fever hype. The other issue with changing silver analogy is that Coblee literally designed LTC to be the silver to Bitcoin’s gold and produced 4x more inflation. LTC is also deflationary similar to gold, silver and Bitcoin so logically I guess it only makes sense. PM comparison takes a very complicated concept and helps simplify it for your average man on the street.
Cons: What I don’t like about the silver association. So I believe most here will agree that Gold feels like it’s more important/sought after than Silver. Considering historically kings have access to gold and commoners have access to the silver. I do believe it’s hard for people to chant and cheer, “We’re #2, We’re #2, We’re #2!!!”. Do you see what I mean here? It’s hard to get Excited about that for people and the same goes with hoarding LTC vs BTC. It also creates a dependency on Bitcoin for eternity and keeps LTC under the thumb of the BTC overlords (I know some of them and they hate LTC). The association should be more like Pepsi and Coke or Ying to Yang and one could technically still operate without the other. If LTC dies (I doubt this), then people will forget about the silver association and just continue chanting for Bitcoin #1/Gold2.0/21 Million/I’m Rich Bitches. If BTC dies or is bottlenecked to death it would be nice for LTC to still exist in the minds of the crypto community and that dependence is also dangerous for LTC (as we keep seeing Bitcoins lack of scaling). You’ll notice every time BTC bottlenecks transactions that the price rally gets cut short again which affects the potential LTC rally. This is also a big part of why hedging out of BTC into alts such as LTC is important, but many think why would I hold LTC when I can just hold BTC so they invest in something totally different like ETH as a hedge. The other issue is the ratio and stability of LTC when the ratio both snaps back (short-term) and is suppressed (long-term), so it doesn’t make for the most stable currency when this occurs (although a 40x gain in value again would be nice). Many precious metal bugs will state that the physical gold/silver ratio should be around 1:16 ounces and technically if BTC/LTC had identical network-effect the value ratio would be closer to 1:4. Right now, we’re nearing 1:200 which is absurd. Not only that, this association is not so accurate because the gold and silver volume/ratio of atoms on this earth is unknown. While the tokens to exist currently and in the future are precisely known with BTC/LTC (1:4) which means LTC is actually even more undervalued than physical silver to physical gold. It would be nice to talk about LTC without ever having to mention BTC and I do feel it’s a setback, but at this point maybe necessary especially considering this next BTC pump.
2.) Slogan Suggestion. As you can see I am really on the fence about the silver analogy, so maybe we can just leave it as an unspoken association as we seen Bitcoiners mentioning gold analogy less and less. The funny thing is Coblee and Xinxi totally changed the game with LTC while nobody noticed. It’s so different that I almost think this one change alone has put the silver branding into question. By adding CT transactions and Segwit it provides enough differentiation from BTC to make it a more worthwhile hedge for wealth storage (This is important and helps maintain a higher per coin price). For those that want to save their earnings in a more private blockchain they now have a reason to transfer some BTC over to LTC or bypass it as a means of storage and we already know it’s much better for transfer. Coblee states fungiblity reasons, but I already know people will be taking a second look at LTC after this is implemented because I personally don’t like when people can see all my transactions at a particular address, so having both a fully public and private blockchain is a must. Not only that he knows about the censoring of coins for associations with the dark web even if you weren’t directly involved and that hurts fungibility, so once again the right decisions are being made.
With that said, I would personally prefer LTC being considered the “The Swiss Bank of Money”. Money and Currency are actually two VERY different things by the way while gold/silver being money and currency being a derivative of that money. Obama was recently at South by Southwest and gave a speech mentioning crypto directly. It would be hilarious if we embraced his terminology of crypto. https://www.youtube.com/watch?v=YsDijAoxG9g
“It’s like having a Swiss Bank Account in Your Pocket.”
Another interesting point is the ironclad privacy that Swiss Banks were known for has been completely undermined by the US probing and global FATCA compliance for all other banks globally. There is no safe haven anymore and in a subtle way this almost alludes to LTC being the last bastion of financial freedom. Picture this, but instead LTC: http://i.imgur.com/yrQYmxO.jpg (The financial system is being completely turned upside down with some countries going to negative interest rates… AKA you pay them for holding your money, so that picture is very accurate.)
3.) Litecoin Constitution or Oath. I will eventually get to the marketing aspect, but this all ties into everything, such as word of mouth. Every great company has a motto, a country a constitution or religions with commandments. It is important because it condenses down why we are here, our beliefs, what we are fighting for, our principles and what is out of scope of the vision or deemed acceptable. We’ve seen glimpses of this from Coblee like when he mentioned after an altcoin forked due to a theft that LTC will never hardfork due to a theft (So, let’s outline it for everyone). This is so important that I could even see a URL being dedicated to it so the world is clear as too what LTC is and stands for.
An example of what this would look like: Litecoin Beliefs/Oath: - LItecoin will strive to be as transparent as possible in all aspects of development, marketing, future updates. - Litecoin will strive to remain as decentralized as possible while maintaining a pristine blockchain. All aspects of management for social media and other platforms will also remain decentralized. - Litecoin will never reverse or roll back the blockchain or fork due to a theft or unauthorized transaction. - Litecoin will strive to operate the most financially fair network of wealth storage and transfer as possible. - Litecoin will always strive to bring modern financial access from the richest to the poorest and most remote people on earth. - ETC ETC.
Something like this needs to be in place in the event Charlie goes MIA or anyone else in management so we have our guide stone in place. A wealthy individual looking to speculate in LTC and store his wealth there would feel much more comfortable if he knew what LTC stands for. The examples I gave above are how I perceive LTC but writing it in stone would make everything clear for everyone.
4.) Enthusiastic Keynote Speaker. While I love Charlie to death and he’s fighting the good fight it would be nice to see someone like an Andreas equivalent for LTC (English/Chinese speaker would be incredible). When I hear Andreas speak about BTC I literally get goosebumps and my faith/passion is restored in crypto because sometimes we get beat down when our family and friends can’t see the “lite”. While I believe Charlie should never stop spreading awareness at as many events as possible he doesn’t come off as being very confident and a bit shy (which is fine). What I would like to see is high energy, passion, excitement and a confidence in LTC that is unshakeable. Assume the sale man! Charlie observed BTC operating in the wild, made a few tweaks and somehow made a better version of it capable of more yet incredibly stable/functional (without the suspect Satoshi early miner stash). However, I do understand it being difficult to hype LTC when there is not much to talk about since BTC hit all the talking points and LTC was no different other than 4x. For the future we really need to stress the scalability and fungibility improvements.
5.) Thinking out of the box. Xinxi’s paper wallet suggestion if done on a grand scale could be quite massive for adoption despite how primitive it sounds. This is the type of thinking we need to bring LTC functionality/awareness to the masses. Get creative/think outside the box and reach out to the appropriate companies/visionaries or start a business (we need more entrepreneurs and now is the time to get involved and solidify your spot in the industry).
Some examples: a. In previous posts we discussed the paper wallets for LTC. If I were to walk up to any person on the street and explain to them that I had one LTC paper wallet in my hand worth $4 and I would be willing to sell it to them for $5 and explained it was rare and similar to Bitcoin (second largest), in addition hit $48 in the past and could happen again and BTC is currently at $780.. I guarantee I could sell them on the spot. That could literally be turned in a business model and scaled as one idea that seems silly, but with awesome potential.
b. Tonight I watched the unveiling of the new Tesla solar home roof in addition to the PowerWall 2 unit. Seen here: https://www.youtube.com/watch?v=dRqSkR4ENAg Who’s to say we couldn’t contact Tesla and integrate a Scrypt Asic chip into their future PowerWall 3 unit and offset homeowner’s extra battery power into the form of crypto. I mine BTC, LTC, DASH, ETH/ETC and LTC is by far the most profitable to mine, so maybe this actually could be viable. It’s out of the box and worth looking into from a technical standpoint. Coblee literally lives down the street and could meet with them.
c. Another idea could be a sidechain mobile mining concept. I’ve thrown that idea around with the LTC devs, just to see what their thoughts were. It would have to be structured in a very particular way to work, but I believe there could be some merit there as well to draw in new users. I would really love some feature to be offered through this additional hash/computational power via a sidechain and potentially something like a Dash masternode for the monthly yield since for some the simple buy and HODL method doesn’t work for them. LTC is supposed to be “money”, so monthly yield is inappropriate similar to how gold doesn’t produce monthly yield by its very nature.
5.) More Accessible Scrypt Miners. It looks like Alcheminer is gone and Titans are no longer obtainable leaving really only Innosilicons terminators older ones and the newer ones coming. It would be nice if we had more affordable smaller miners for your average joe. GPU dominates the word of mouth aspect because of accessibility. Any gamer can get involved, he gets a few coins and then tells his friends being that there is also financial incentive for him to spread awareness. It would be great if we could see more scrypt manufactures producing something to fill this niche.
6.) Localbitcoins.com equivalent. I don’t want to offend anyone again, but the litecoinlocal.net website really does need work. Aesthetically it doesn’t look as visually appealing as LBC and also does not function as well. The .net extension is also not so favorable, so maybe they could acquire a .com equivalent and 301 it. In addition, I see little to no available trades which also does not bode well on the psyche of potential LTC investors. LBC is really a major backbone to Bitcoin adoption considering its functionality for the community and allows people to buy BTC in a more anonymous fashion. Plus, the owner of LBC makes great profit so there is much incentive for running a high caliber local exchange.
7.) Marketing. There really is no marketing for LTC and I’ve never seen any marketing efforts on behalf of the LTC association other than maybe some sponsored ads on reddit (which is fine). This really does need to change because when we saw Dogecoin doing the Nascar stuff or Jamaican bob sled team, I was thinking my god why can’t we get a budget going to spread awareness. While I believed even at the time that their particular choices were foolish I was impressed that they were actually trying to bring about public awareness for Doge. We can maintain interactions on all the social profiles we want in the world, but we really need to be paying for ad placement on networks such as YouTube, Facebook, Reddit, Twitter, etc etc. A/B split testing with a test budget would be wise and gauge interaction via a landing page.
Side note: It’s funny one of my first projects when I was a kid was a penny stock newsletter site accessible via monthly subscription. We ran ads that were very professional and reasonable such as “Join our newsletter and receive monthly returns up to 20%-30%”. At the time that was very reasonable and realistic based on our track record/advice. The only problem was the ads performed horribly, but then eventually we said screw it and ran ridiculous ads like, “GAINZ of 30000X, GET RICH, GET BITCHES, LIVE ON BEACH IN PARADISE”…. And it worked almost too well. This tells me humans react off greed and dreams of grandeur. I see these claims with altcoins that get pumped which claims of “next Bitcoin” or will “overthrow Bitcoin”. I think that’ more sensational for most people and fills their dreams of becoming rich overnight. There’s those types of people and then there are the more ideological type like we see in the BTC community such as miners that will continue to mine at a loss because they believe so strongly in BTC or the HODLRS that won’t sell even when BTC loses half its value in 48 hours and people are shitting their pants. It would be nice if we could appeal to all demographics.
I keep hearing about the LTC Association meetings. Why don’t we publicly post the meeting day/time do it via Google Hangouts so we can all listen in on the conversation. We really need to build a sense of community and that’s lacking as well. Outreach programs could also be a very inexpensive form of marketing. Such as contacting Twitch.tv for potential integration of LTC. If the fundamentals were explained I’m sure there would be successes in furthering adoption of the technology.
If the Litcointalk.org website is not going to get fixed can we at least 301 it to the litecointalk.io address for now? Seeing "Hacked" at the top of the site doesn't instill confidence again... Not so great for branding... lol
… to be continued.
I’m starting to ramble. It’s 3am here and I’m half asleep. I’ll continue writing more on potential marketing efforts/ideas I’ve had (tomorrow).
In the meantime, I’ve love to hear feedback on things I’ve shared so far.
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