Terracoin (TRC) is a person to person digital currency. It shares many similarities to Bitcoin in that it utilizes the SHA 256 algorithm and relies on the concepts outlined in Satoshi's white paper. Terracoin originated in late 2012 after a series of difficulties arose in other digital currencies. There will only be 42 million Terracoin produced. To learn about using and/or mining Terracoin visit the bitcointalk forum or the Terracoin website, Terracoin.io.
My 5 Favorite Coins Under $5 Million Market Cap and Why - Full Analysis
*Note: This article was copied from my medium article and then formatted for Reddit. For the best reading experience please read on medium. However, I wanted to format it for reddit so people could read it here on Reddit if they preferred. *
In this article, I will be sharing with you my 5 favorite coins that are currently sitting under a $5 million market cap. Before we get into things, I first want to cover all of my bases and say this is not investment advice. Please do your own research before making any investments. The coins I will be sharing are much riskier investments, so make sure to #DYOR.
Please keep in mind that these are all very risky investments and are not your $100 million + projects. These are high risk and high reward projects that will require you to do your own research. These investments aren't for everybody, but I wanted to share with you my thoughts on these coins.
Please follow me on Twitter for more updates, articles, and my thoughts on various other crypto related topics.
1. EquiTrader (EQT): $3.6 Million Market Cap
This is my favorite project that is currently under a $5 million market cap. EquiTrader is a social platform for traders where they can share their ideas and get rewarded by the community. EQT comes equipped with trading charts, indicators, trading tools and other features which will make it easy to make technical analysis. You will also have the ability to shadow other traders and make automatic trades based on what they do.
Why I Like EquiTrader
There are a lot of reasons why I’m bullish on EQT, the main ones our outlined below:
Perfect Product for Crypto
Having a social platform where traders can share their investment analysis and then get rewarded is a perfect concept for this market. I think that a lot of the major crypto influencers will get on this platform and utilize it, which will then in turn help EQT get bigger. Once the platform is up and running the “crypto OGs” will do a lot of the heavy lifting when it comes to marketing because it benefits them too. I’m a big fan of any crypto project where their main audience is the crypto market. This is an easy foot in the door and will allow the project to gain traction much quicker. I think EQT will do this as well.
Recently Acquired by a Major Crypto Influencer
It was recently announced that EquiTrader was acquired by Aluna.Social, which is a company owned by Alvin Lee (https://twitter.com/onemanatatime). Having a big player behind the platform will be extremely beneficial once the platform is launched and he can start promoting it. Plus this adds a lot of credibility behind the project as well. I’m a BIG fan of this news.
Many Upcoming Catalysts on Roadmap
Public release of the EQT platform is planned for Q4 of this year and I’d expect a lot of traction to start at this point. In Q1 of 2018 they will release the iOS and Android apps, Q2 the beta of the social trading platform will be released (huge news) and then in Q3 the social trading platform will be released to the public. We have at least a whole year of upcoming catalysts that will all have a major impact on the price.
Currently Only Trading on Coin Exchange
At this point you can only buy EQT on Coinexchange.io. It was listed on Cryptopia previously but when they did a coin swap they were removed. Why is this a good thing? The EQT team is in discussion with Cryptopia to be added now that the swap has been completed. Once this happens I’d expect a major pump. This will happen very soon so the major discount that EQT is currently trading at probably won’t last long.
Proof of Stake: 30% per Year Returns
As mentioned above, they recently did a coin swap and went from a PoW chain to a PoS one where you can get 30% annual returns from staking. This is an awesome return. I have already seen some great returns from staking.
What I Don’t Like
The biggest complaint I have about EQT is the small issue and delay they have had doing the coin swap. Before the coin swap they told everyone to move their coins to CoinExchange.io and the swap would happen automatically, which worked great for those who followed the instructions. However, there are a lot of people that didn’t do this and now they are having to manually swap these coins. This has caused a long delay in terms of being relisted on Cryptopia, which in turn has hurt the price. This isn’t a huge deal, but it is a small complaint I have.
With a lot of catalysts on the roadmap until 2019, the potential of EquiTrader is hard to predict. However, I think a 10x from here, which would make the market cap only $34 million, is a very real possibility within 3 months. Even after a 10x, I still think it could get closer to $75 million before it would be getting close to what I think it should be valued at. As you can see, I think there is a lot of room for EQT to grow and I’m expecting it to do just that.
2. Hush (HUSH): $1.1 Million Market Cap
Hush is a very, very close second when it comes to my top 5 favorite projects under $5 million market cap. This project might have the most potential out of all of the coins in this list too. Hush is an anonymous coin that utilizes the Zerocash protocol that is forked from Zcash. There are quite a few Zcash forks out there, but this is the best one in my opinion (and the cheapest). It is a fairly new coin that launched in July 2017 so there have only been a few months worth of development.
Why I Like Hush
There is a lot to like about Hush and the reasons are explained below.
One of the Best Anon Coins
Hush is a fork of Zcash but without the founders reward, which is the only major knock of Zcash. So without the founders reward it becomes a top notch anon coin tech wise. There are other Zcash forks out there, but none of them are sitting at this low of a market cap, which creates a huge opportunity for Hush. A very similar coin to Hush is ZenCash, which currently sits at a $14 million market cap, is another Zcash fork without some of the features of Hush. Combine all of this with the major pump all anon coins have been going through lately and Hush is looking prime.
One of the members of the Zcash dev team, David Mercer, is now the lead dev for Hush. This is huge. Not only is he the lead dev but he is also working full time on Hush, which means all of the promised features on the roadmap will have a good shot at being completed. Along with the lead dev, there are 6 total team members. The size and talent on this team is practically unheard for a coin with such a small market cap. This is a major reason for me being bullish. I know that this team will get things done, which is all you can ask from a team.
Counterparty on Hush
This is the biggest reason I like Hush so much. They are planning on porting Counterparty to Hush and this will allow people to create Counterparty based assets with the security of Hush. They are also planning on having these assets being compatible with Ethereum smart contracts. These are killer features that make Hush a unique project.
Only Trading on Cryptopia
At this moment the only place to purchase HUSH is on Cryptopia. The Hush team has confirmed they have been in contact with Bittrex and I don’t think it’ll be long before they are added. Take advantage of it being only on Cryptopia before it gets added to other exchanges, once that happens the price is going to take off.
What I Don’t Like
The major knock on Hush is their marketing. They are not putting much effort into spreading awareness. Their reasoning behind this is that they feel like they don’t have a finished product to market yet and that good tech will eventually win out. I like seeing a team that prides themselves on the tech of their project, but at some point they are going to have to start marketing it. Marketing plays a huge role in crypto. With all of that being said, I’m not complaining because it gives me more time to accumulate at these low prices. The only way people find Hush is from actually doing their own research. You won’t find it being shilled much on twitter because no one really knows about it. This will probably be changing in the near future.
The $1.1 million market cap it is currently sitting at is almost funny. I can’t believe it is so low. This coin should be sitting at an easy $10 million market cap SOLELY based off of what the project currently is. Factor in some of the upcoming features such as the Counterparty port and a standalone HUSH messenger and I think Hush could be worth at least $50 million in 6–12 months, if not higher. The reason I say it could be higher is because of the dev team. I’m very confident in the team and believe that in 12 months from now they will be working on features that will blow the current features out of the water.
3. Tokes (TKS): $1.8 Million Market Cap
Coming in at 3rd in my top 5 is a coin called Tokes. I’m a big fan and this is one of my long term plays that I think will be worth a ton in a few years time. This isn’t going to be a 10x coin in 2 months, but in 2 years it very well may be a 100x coin. Keep that in mind while reading. Tokes is a Waves based asset that is geared towards the marijuana business. They are looking to help businesses handle their money and provide a better payment solution for both consumers and businesses. They are also doing a few other really interesting things in this space and I will explain why I like Tokes in the next section.
Why I Like Tokes
Tokes is a coin based around the marijuana business, but it does much more than the other pot coins out there. Tokes is looking to actually solve real world issues in the marijuana business and has partnerships with major players in their area. I will touch more on all of these things, but I want to make ti clear this isn’t just a “pot currency”.
Provides a Fiat Gateway
A major issue for marijuana businesses is that they are forced to operate as a cash-only business due to the federal laws that make banks not want to work with them. This is a major problem within the cannabis industry and Tokes is trying to solve this by creating a fiat gateway. Tokes allows for cash to be converted to TKS and vice versa so that it can stored electronically without the need to carry cash around. They also offer no fiat volatility risk because of their pegging system. This means that the $100,000 of cash they turn into TKS will remain $100,000 when they withdraw it. This is a major issue that is being solved by Tokes and gives their project immediate value and use cases. Keep in mind that this is something they are working on implementing and hasn’t actually been developed yet.
Major Partnerships Secured
Tokes is located in Las Vegas, where marijuana laws are some of the most lenient, and they have been hard at work building relationships and partnerships with the marijuana businesses in that area. Some of their partnerships are as follows:
Pisos: A dispensary in Vegas that is their first partner in their pilot program Herbology Tours: Tokes purchased a 10% ownership stake in this company. More on this in a minute. Cannabis Delivery Startup in California: Payment integration into their mobile app
Tokes purchased a 10% ownership stake in a Las Vegas cannabis tourism company and this has a couple of really cool benefits. First, it gives Tokes a foot in the door with a marijuana company where they can start integrating and testing their system. Second, it’s a great way to get their name out there and start spreading awareness. This will go a long way to help both consumer and business adoption. The last major benefit of this ownership stake is that they will get 10% of all of the revenue from Herbology Tours, which will be used to help grow Tokes. This revenue will also be used as a way to potentially buy and burn coins (more in the next section).
Revenue Used to Burn Coins
Tokes plans on getting into other aspects of the marijuana business and portions of this revenue will possibly be used to buy and then burn the coins, thus decreasing the supply. The revenue that they generate from their 10% ownership stake in Herbology Tours will also be used to burn coins. Im a big fan of coins that burn their own supply and the markets go crazy when this happens (See $TRIG and $DAR). It’s worth noting that they are planning on burning coins with revenue, but it is not 100% concrete yet.
Their roadmap extends all the way into Q4 of 2018, which is good to see. There are also a lot of good things to look forward to and a lot of catalyst that should help the price increase along the way. Check out the roadmap here
What I Don’t Like
The biggest issue I have with Tokes is their supply problem they have. Currently, there are only around 960k in circulation out of the total supply of 50 million (according to Coin Market Cap). The founders currently own the remaining ~40 million tokens. The good news is they are actively trying to solve this issue and release these tokens in a way that won’t hurt the price. One of the main ways they hope to remedy this situation is by putting all of the tokens in a smart contract and distributing it during a 3 year period. You can read more about their plans here.
I’m not a big fan of the current supply issues, but I think the founders are on the ball on this issue and will figure it our without too many problems. Investment Potential I really like the fact that Tokes solves a real issue by providing a store of value for cannabis businesses and allowing them to move away from cash only operations. This has so much value. Combine that with their current partnerships, pilot program and their upcoming roadmap and Tokes looks like a real good long term investment.
Where Tokes could really see their value skyrocket is after they get a foothold in Las Vegas and establish their name in the cannabis industry, they will be the first company other cannabis companies call once their states become legal. Like I mentioned before, this is a longer term play but could be huge in a few years time. In the short term, I think they could easily get to ~$25 million just based off of continuing to lock in partnerships, releasing their mobile app and solving their supply issues.
4. SmartCash (SMART): $2.5 Million Market Cap
Coming in at 4th on my list is SmartCash. SmartCash is a fork of Zcoin, but it has a some of the same features as Dash along with a few unqiue twists that makes this coin very undervalued. The coin itself was started less than 3 months ago, so the project itself is still very new.
Why I Like SmartCash
Any anon coins right now that haven’t pumped yet are of interest to me. It seems like everyday a new anon coin is pumping and the fact that SmartCash hasn’t yet is appealing. Not only has the coin not pumped yet, but it has a super small market cap and is a better coin than the majority of the other anon coins out there. Aside from it being an anon coin, the following reasons are why I like this project.
Insane Staking with SmartRewards
This is a major reason for this coin being in my top 5. They have a cool feature called SmartRewards which is a way for people that hold their coins in their wallet to get rewarded. The only requirements are that you must have at least 1000 coins and hold them for at least a month, starting on the 25th of each month. For example, you transfer 5,000 coins on September 16th then you would be rewarded on October 25th. Since this coin is so new, there has only been one completed round of payouts so far. During this first round each person eligible made 400% returns. Example, if you had 1,000 coins in there then you would have been paid 4,000 coins!
400% is insane and for this second round of payouts things are a little less extreme. At the time of writing this (halfway through the month) the current estimated payout is going to be 37%, still not bad at all! This numbers goes up as the month goes on and less addresses become eligible. The reason for the drop off is because there are more eligible addresses than the first round. These rewards are funded by taking 15% of all of the coins mined from each block and then on the 25th of each month are distributed to addresses that hold at least 1000 coins. Not only are the returns very good, but this is also a great strategy to lock up coins and keep the price from dropping too much. SmartRewards is a huge reason for me being in this coin and I think it will be very popular once more people find out about it.
Great Funding System I’m a big fan of their funding system and how they split the block reward. Their funding structure is as follows:
Of the 80% allocated to the community, 70% of it goes to the community treasury and 30% of it goes to funding the team. I like the reversed model they have of paying the community the bulk of the rewards and the miners the least. I think this is a good way to get people involved and help grow the coin via community funded projects.
Governance System With a large chunk of all coins mined going towards community treasury it gives the community a lot of coins to use on various proposals that will be voted on by the community. These proposals can be pretty much anything helping the coin grow and the community gets to determine if it is a good idea or not. Each vote is equal to 1 smart cash.
As of writing this, there have been 3 community proposals that have been funded. Those 3 include:
Venezuela Food + Marketing Campaign: 2.8 million SmartCash
As the community gets larger, I’d expect the number and quality of proposals to improve and then we will really get to see the benefits of this funding system.
Instant Transactions via InstantPay
This is a feature that is going to be implemented in the near future and would allow for near instant transactions. This is crucial to have if you are trying to be a coin that is used for everyday purchases, which SmartCash is trying to do.
Not on any Major Exchanges
Currently, the exchange with the largest volume where you can buy SmartCash is Stocks.Exchange and Cryptopia. Whenever Bittrex or Poloniex get around to adding this coin there should be a nice pump. Now is the time to accumulate!
What I Don’t Like
I’m not a fan of coins with a large supply of coins and SmartCash has 5 billion coins as its max supply (451 million circulating). The idea behind having so many coins was to become the everyday coin that is used and its easier if people are paying in a small amounts. I get the idea behind it, but I would still prefer a coin with a smaller supply.
This coin is still fairly new and a lot of people have still never heard of this coin. I think as more people become aware of SmartRewards and the insane monthly returns that people will start to flow into this coin. Couple that with things such as masternodes (coming soon), InstantPay, a functioning governance system, and anonymous transactions and you have a severely undervalued coin at $2.5 million. Short term potential for this coin is at least $10 million market cap, but $25 million within a few months is completely reasonable. This coin has all of the characteristics of coins that are worth hundreds of millions of dollars so I don’t plan on selling this coin for a while.
5. Crypto Bullion (CBX): $1.3 Million Market Cap
Last but not least we have Crypto Bullion, which currently has a market cap of $1.3 million. This coin was originally developed in 2013 but has seen recent improvements that have made it a great dark horse pick. This coin is a 100% proof of stake coin that was originally created as a way to store value with a yearly interest rate of 2%. as mentioned above, it has become way more than this with the new developments that are currently under way. Let’s take a look at why I like this coin.
Why I Like Crypto Bullion
Crypto Bullion will be having a hard fork before the end of the month where they will be implementing quite a few new features that I think takes this coin to the next level. Some of these features are as follows:
Masterbodes are Coming
Once the hard fork occurs, masternodes will be coming to CBX along with Zerocoin anonymity. Once the masternodes have been implented it will make CBX one of the cheapest masternode coins on the market. These masternodes will earn roughly 9% — 18% yearly plus any of the fees they make from transactions. It will cost 2,000 coins to run your own masternode, which is currently around $2,000.
They have a very solid 2017 roadmap leading into 2018 and they are planning on releasing a 2018 roadmap once this one is completed. I would expect a lot of cool new features to be added on the next roadmap. See their roadmap here
New Wallet Being Released
They are currently putting the final touches on a new wallet and getting ready for the hardfork. All of this should be happening by the end of September.
As of right now, there are only around 1 million coins with a very low inflation rate of 2% per year. With staking, you would make around 6% per year in interest. This means the coins are rare and scarce.
What I Don’t Like
From what I have seen, the communication from the dev is subpar and you can be left in the dark at times. Also, even though they have some cool features in the pipeline, they aren’t really bringing anything new to the market.
I think CBX has built itself a nice little niche with becoming a true store of wealth, unlike Bitcoin, and that fact alone should make it worth more than its current market cap. However, with the upcoming hardfork that will bring masternodes and a new wallet we should see a lot more investor interested in this coin. I’m holding this coin until at least a $10 million market cap and probably even longer depending on what kind of developments happen in the meantime.
I’m not going to dive deep into any of these coins below, but they are worth mentioning.
Circuits of Value (COVAL): $4.6 million market cap
Zoin (ZOI): $524k market cap
Terracoin (TRC): $2.5 million market cap
AdShares (ADST): $1.6 million market cap
Linx (LINX): $557k market cap
Wrapping this Up
That is going to bring this article to an end. I hope you enjoyed reading and found a coin or two that might interest you. These 5 coins are all coins that I will be holding for nothing less than 10x each, probably even more. These are not your “safe investment” coins by a long stretch, but if you’re looking for some high risk/high reward coins then these might be of interest to you. I’d love to know what coins you are all fans of that I didn’t put on the list. Please share in the comments below. Thanks for reading and if you enjoyed this article please follow me on medium for more posts!
MANDATORY UPGRADE OF THE TERRACOIN WALLET! There is a mandatory upgrade of the Terracoin wallet in preparation for the hard fork on block 1087500 which will enable masternodes and decentralized governance. Everyone must upgrade their wallet by block 1087500, which with current block timing is falling between the 29th and the 30th of this month! We really need to get the word out to as many people as possible. So please post and talk to everyone you know. This is a mandatory update which means if you continue to use the old wallet you will be on the wrong block chain and you won't be able to send or receive TRC from that wallet. We also need to make sure that all of the mining pools (or whoever is throwing that crazy hash at TRC) have updated their wallets, otherwise the coins they mine will be worthless. Always back up your wallet.dat file! Always back up your wallet.dat file! Download the new wallets here: https://github.com/terracoin/terracoin We will be using this repository going forward, but the old one has been updated as well. The first time you run the binaries (or exes) it will create a new terracoincore folder. You can manually make it use your old terracoin app folder, but I recommend using the new folder. Stop (or close) the binaries and copy all of your files, except the peers.dat file over from the old folder into the new folder. That way you have an exact duplicate of your old data. (Except the peers.dat file, you will find .12.1.5 nodes faster without it, and you won't fully sync till you connect to a .12.1.5 masternode.) Restart new binaries/exes. It will say that it needs to reindex, so let it. Once it is done reindexing just sit back and wait for it to find .12.1.5 peers and masternodes. If it gives you an error saying network sync has failed, don't worry you just haven't gotten a .12.1.5 masternode yet. It will try again later. If you are not sure how to do this please ask on one of the many forums. It is better to be safe then sorry! I will be posting close to daily updates on which exchanges have updated their wallets and which haven't. If you see an exchange put the Terracoin wallet in maintenance that probably means they are upgrading it! Hopefully we will have a Mac wallet out middle of next week. In other news, the whale is now almost done with only ≈231,000 TRC left. He won't be around much longer. If you can get your TRC cheaper somewhere else then please do, but he has been consistantly selling to buy orders at .00003001 on Cryptopia. Once he is gone the price will most likely rise, so get it while you can! Oh yeah, if you want you can set up your masternodes now, though you won't get rewards until the hard fork. Numbers 30 days ago we were at 0.00001935 BTC (.0771 USD) and today we are at 0.00003010 BTC (.1098 USD). A year ago we were at 0.00000442 BTC (.0026 USD). We are ranked 321 on coinmarketcap with a market cap of $2,341,404 USD. Last week our market cap was $2,157,630 USD. Source: http://coinmarketcap.com/currencies/terracoin/#charts Donation Addresses Terracoin: 12bTKJL3UiypnVQMyFXg7eCJudAyAtgh6p Bitcoin: 14LW52k8vhHvHaGfmgx48d3su4RcKPyKcc Terracoin Donations for the World Address 1BQH6gBzkxxyMQG3VSJCHnmVGfWu64nbPL Public Discord Invite https://discord.gg/r3QVQRN Public Slack Invite https://join.slack.com/t/terracoin/shared_invite/enQtMjQxNzU5NTY5NTIwLWJkNzIzOThhYzkyNGEyMDBmNjY2OWM2NmNhYzM0YjNmNzdlZWJkYjA3ZDgwYzkwMmMyYmM3OWNkMDQ2ZTIxYzk Public Telegram Invite https://t.me/terracoin Newsletter Subscription http://eepurl.com/cYRTwn Youtube https://www.youtube.com/channel/UCVt88faiKRWbMqaH_i6gXPA
We have set a block, and date for the hard fork! We will be hard forking on block 1,087,500 which is approximately September 29th. This hard fork block won't change unless the community finds something catastrophic in the code, which is highly unlikely. This also means that the public testnet is ready for testing! DO NOT TEST ON YOUR CURRENT TERRACOIN WALLET/WALLET FOLDER Also, always back up your wallet.dat file before messing around. No joke. Back that file up! The code is here: https://github.com/terracoin/terracoin and we have Windows EXEs available on the releases tab. You can open issues directly on github, or contact me on one of the many forums, etc. We are excited to have the whole community jump in and help out, and like I said in a previous weekly update, we need everyone to be as critical as possible. A week from now I would like to start contacting mining pools, exchanges, etc and have them update their wallets in preparation for the hard fork. If you need help compiling the code on Linux, or setting up a masternode feel free to ask. I have a feeling we are going to get swamped with questions, so please be patient as we work our day jobs, and sleep. I will also be posting a rough draft of my masternode/compile setup guide, so please give any input on it that you can. Once you get your wallet all ready to go (remember to run it with the -testnet option) then post your tTerracoin address (fake Terracoin) and I can send you 5000 tTRC so you can set up a masternode. I know some people want to test out two at a time, so once the first wave is done I can send you another 5,000 tTRC. If you are done testing then please send the tTRC back to the address below so other people can get a chance to test too. Return tTRC address: mjirbjPj1AaMViNDntVMCA8W12QGzyNUJy The testnet does allow two masternodes for one IP. This will not work once the hard fork happens. (I know this is a long weekly update, but keep reading. We are on a new exchange and we have a Discord server set up.) Last week I opened up the discussion about the cost of a proposal (5 TRC to put in a proposal), but I didn't really like the fact that the 5 Terracoin was destroyed once a proposal was accepted for vote. The team agreed with me, and the proposal cost is now sent into the block chain as a block reward which will be split between the miners and the masternodes. We are not sure if any other coin has done this before so we need this part tested with extreme critical thought. There is one problem with this idea. A masternode owner can look up when they are going to get paid next, and then spam proposals for 2.5 Terracoin (since the know they will get the 2.5 reward). In an effort to combat this we have decided to raise the proposal cost to 10 TRC, which is currently about a $1.40 per proposal. If you feel passionate about the cost of a proposal fee, or about proposal fees getting destroyed/not destroyed feel free to post on any of the forums/social media below. Thanks to Jacob Kerr for coming to the rescue and turning the DASH wallet Terracoin green for us! Also thanks to the whole community! Everyone has been amazing and understanding while we have been working on this! Other News Alex_Under got Terracoin on Coinexchange.io! https://www.coinexchange.io/market/TRC/BTC Peace has set up a Discord server, and here is the invite: https://discord.gg/r3QVQRN I have started updating the Cryptopia forum, which can be found here: https://www.cryptopia.co.nz/Forum/Thread/815 C-Cex is saying they are going to delist Terracoin. I guess we don't have the volume that is required. According to their front news page Terracoin needs .2 Bitcoin volume a day, but after talking with their support we need .4 Bitcoin a day. This means we need 12 bitcoins worth of volume a month, which really isn't that much. We have until the 20th to up our volume, if you want to help keep us listed there then please trade on there. If you just have Terracoin sitting on there make sure to get it to another exchange or a local wallet before then. I am going to keep trading on there until around the 19th to see if we make it. I will keep everyone up to date on the situation. Numbers 30 days ago we were at 0.00002920 BTC (.0987 USD) and today we are at 0.00003209 BTC (.1479 USD). We are ranked 311 on coinmarketcap with a market cap of $3,139,664 USD. Last week our market cap was $2,985,813 USD. Source: http://coinmarketcap.com/currencies/terracoin/#charts Fake tTRC Return Address mjirbjPj1AaMViNDntVMCA8W12QGzyNUJy Donation Addresses Terracoin: 12bTKJL3UiypnVQMyFXg7eCJudAyAtgh6p Bitcoin: 14LW52k8vhHvHaGfmgx48d3su4RcKPyKcc Terracoin Donations for the World Address 1BQH6gBzkxxyMQG3VSJCHnmVGfWu64nbPL Public Discord Invite https://discord.gg/r3QVQRN Public Slack Invite https://join.slack.com/t/terracoin/shared_invite/MjI4NDQ2ODM0MDIxLTE1MDMwMTgwNzMtYmMzZmExZDIxNg Public Telegram Invite https://t.me/terracoin Newsletter Subscription http://eepurl.com/cYRTwn Youtube https://www.youtube.com/channel/UCVt88faiKRWbMqaH_i6gXPA
Although the Pi is not a suitable miner (for economic reasons), it may be of interest to those who are unfamiliar with the process and wish to try mining first hand. I should help with understanding how nodes, miners and users interact on these networks. Plus it's just spare unused CPU so why not make a bit or two :)
Hello fellow Bitcoiners! It's taken me over a week of effort, but I've finally completed uploading all 61 of my 'Bitcoin 2013 San Jose' conference amateur videos and organizing them into 17 playlists for easy viewing. Feel free to do whatever you want with these. Special thanks to the Bitcoin Foundation who organized the conference (fyi, I'm not associated with them), and the many outstanding lecturers - I was definitely impressed. I personally got a lot out of the conference, especially the networking with everyone, and getting to see the 'face' of Bitcoin, which might be quite different than one might imagine from only reading reddit or hanging out on IRC. I strongly recommend attending these events in the future if you can. Below I've provided a list of the 17 playlists, but please note that there were many more lectures that I could not attend occurring in parallel to these and thus I could not record those. As such, keep an eye out for the Bitcoin Foundation to release official videos to all the lectures in the near future, until then, enjoy these!
1) Kick-off night. (Winklevoss Facebook twins + Peter Vessenes of Bitcoin Foundation)
2) Entering the Convention Center
3) Will Bitcoin Change the Payments Landscape?
4) Decentralized [stock] share issueing
5) Integration with Modern Financial Systems (Bitcoin merchant software for online retailers)
17) Decentralized Mixers (Protocol for transaction anonymity)
If you got something out of these, please drop me a small tip, thanks:
My BTC Tip jar: 185By4a1Lt2HnKLAKR5EmidZMYgp5DDSaj
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My Youtube channel stats thus far: 61 videos, 13,780 views ; 52,014 minutes (36 man-days!) watched, 92 subscribers (thanks!), aprox 0.5 BTC of donations (double thanks!), Top country watchers USA, Canada, UK, Germany, Spain, Finland. Gender (93.7% male, 6.3% female); Devices: 80.1% web browser, 11.4% Mobiles, 8.5% other. Most watched videos: Winklevoss twins (sigh), Entering the Convention, and Avalon Asics (what a surprise! /not). Full Bitcoin 2013 Schedule (3 pages), so you can see missing lectures I could not record: http://www.bitcoin2013.com/uploads/1/4/9/4/14946598/bitcoin_2013_schedule_updated_5-10-13.pdf Other:All videos were recorded on a Canon Powershot Elph 110HS 16.1 Mpixel compact camera w/ 2x 32GB SD memory + 2x batteries & tiny tripod.
There has been a lot of worry that The Terracoin Foundation is loosing momentum and that nothing is going to get done in regards to implementing new DASH code, a website, or anything else. I am here to put your minds at ease. I have been trying to avoid hiring a freelancer and instead attracting developers who want to join the team on a promise of a better future for Terracoin. We have gotten a lot of awesome people to volunteer to help with development, web design, guides, and translations. All of these people have volunteered because they believe that implementing DASH’s masternodes and decentralized governance is the best way to improve Terracoin. Sadly, the code needs updating as fast as possible because people think we are loosing momentum. Our two current developers have full time jobs, and families so they can’t spend the time needed to add the major features we want for Terracoin. They are still members of the team, and will be available for troubleshooting and helping out once the testnet with the new code is up and running. The only way to do this quickly is to hire a freelancer. We are in final talks with a freelancer about adding the features we want. I believe that once the DASH code is up and running more people will join the team and the current team will be revitalized. We must keep momentum going and by putting down cold hard cash we can keep the momentum going. At our current negotiations with the freelancer we only need about $5,000 USD or 2 BTC. (BTC changes every minute which is why we are using USD as the standard). Please donate BTC as fast as possible so that we can get this show on the road!(See below) Thanks! Bitcoin Donations address 14LW52k8vhHvHaGfmgx48d3su4RcKPyKcc Total Bitcoin Donated .17194391 BTC Terracoin General Donation Address 12bTKJL3UiypnVQMyFXg7eCJudAyAtgh6p Total Terracoin Donated 34,656.89725820 TRC Numbers! 30 days ago we were at 0.00001063 BTC (.0134 USD) and today we are at 0.00000718 BTC (.0170 USD.) In the past 7 days we have gone over the 2 cent (USD) price a bunch of times. Next week I will only be reporting how many times we have gone over the 10 cent (USD) price. We are ranked 297 on coinmarketcap with a market cap of $339,490 USD. Last week our market cap was $470,252 USD. Source: http://coinmarketcap.com/currencies/terracoin/ (This is below) The only reason I continue to run The Terracoin Foundation is because I truly believe that Terracoin will one day be the best cryptocoin out there, instead of just a minor altcoin. It will take a lot of hard work, change, and community input but it will happen. Implementing the features we are talking about is the second step (the first step being implementing merge mining and Dark Gravity Wave) in updating Terracoin to the coin it needs to be. Gathering a strong team which is paid a realistic amount is why decentralized governance and masternodes is so important. I believe in this so strongly that I have already told the freelancer that if we don’t get enough donations I will cover the costs. I am not some champagne drinking rich guy either. I just know this is the right thing to do for Terracoin even if it clears out my savings.
I put together a couple of basic mining guides for Litecoin and Terracoin recently. Also, the Terracoin guide will more or less work for Bitcoin you'll just need to set up an account with a Bitcoin mining pool instead such as Slush's pool. I'm working on a few tutorials for Bitcoin at the moment. Beginner's Litecoin Mining Guide Beginner's Terracoin Mining Guide There seem to be a lot of newcomers to the Crypto Currencies so these guides should help you get started playing around with mining if you're interested. There are much more detailed and technical guides available in the respective forums. EDIT: Apparently the hosting company I work with is experiencing difficulties so the site is down for the moment. Hopefully we can get it back up shortly. Apologies for the inconvenience. Back up.
Altcoins.com only a small list of the 200 alt. currencies online
Altcoins AltCoins.com is a list of Bitcoin alternatives Find out more about alternate cryptocurrencies, real alternatives to Bitcoin. This site contains useful information about every alt coin such as client download locations, mining guide, exchange info and more. Use this site to get familiar with live bitcoin alternatives. Use alt coins, mine and exchange them. Keep the alternate chains alive. SHA-256 alternate cryptocurrencies Altcoins using SHA-256, the same hashing algorithm as Bitcoin.
Alternate cryptocurrencies can be mined using the same hardware as for mining Bitcoins (mostly SHA-256 alt coins). While bitcoin mining is going to use FPGA and ASIC devices, scrypt based alt coins can be mined using GPU cards. Hybrid and CPU alternate cryptocurrencies Alt coins using other, innovative hashing algorithms
XPM – Primecoin QRK – Quark SRC – Securecoin Nxt – Next YAC – Yacoin SKN – Skeincoin PTS – Protoshares DRK – DarkCoin Curecoin OFF – Offerings to Cthulhu MED – MediterraneanCoin HTC – Huitongbi PGC – Pangucoin
If you don’t have a GPU or ASIC hardware you can still mine some of the CPU-only altcoins.
CEX.io Recent Posts CGB – Cryptogenic Bullion DGC – Digitalcoin Panda altcoins – PAND – PND – PANDA Pandacoin [PAND] – “The original scrypt Pandacoin” The Panda Coin [PND] – No premine scrypt PoW The Panda Coin [PANDA] – scrypt, 3% premine Elacoin [ELC] – Fair Elastic Scrypt PoW Feathercoin [FTC] Platinum Coin [PT] SHA-256 WorldCoin [WDC] – Coin Of The Future Categories Alternate cryptocurrencies ASC – AsicCoin BLC – Blakecoin BTC2 – Bitcoin Scrypt BTE – Bytecoin CGB – Cryptogenic Bullion CRC – Curecoin DEM – Deutsche eMark DGC – Digitalcoin DRK – DarkCoin DVC – Devcoin ELC – Elacoin FRC – Freicoin FTC – FeatherCoin HTC – Huitongbi I0C – i0coin IXC – Ixcoin KING – Kingcoin KRN – Ekrona MAX – MaxCoin MED – MediterraneanCoin MMC – Memorycoin 2.0 NMC – Namecoin NVC – Novacoin Nxt OFF – Offerings to Cthulhu PAND – Pandacoin PANDA – Pandacoin PGC – Pangu PND – Pandacoin PPC – Peercoin PT – Platinum Coin PTS – Protoshares QRK – Quark SKC – Skeincoin SRC – Securecoin TAG – Tagcoin TRC – Terracoin WDC – WorldCoin XPM – Primecoin YAC – Yacoin
On Sunday we officially entered the testing phase! We have been steadily at work testing and breaking the code since then. This means that we are on target for the hard fork in about a month and a half! If you want to help test, feel free to contact me on any of the forums, or via email. Once we have mined enough tTRC we can send some to you so you can test too, or if you want you can mine the testnet for your own tTRC. With the help of SixofFive I have also started working on a guides for masternode setup. If you haven't seen our awesome new website created by Rehrar, check it out here: terracoin.io Historically the price of any coin adding masternodes rises as it gets closer to the hard fork date, so you should get your collatoral of 5000 TRC for a masternode now! Now for the other stuff. Countdown We are approximately 6 weeks from the hard fork! Numbers 30 days ago we were at 0.00001727 BTC (.0406 USD) and today we are at 0.00001763 BTC (.0756 USD). We are ranked 339 on coinmarketcap with a market cap of $1,594,601 USD. Last week our market cap was $1,828,873 USD. Source: http://coinmarketcap.com/currencies/terracoin/#charts Donation Addresses Terracoin: 12bTKJL3UiypnVQMyFXg7eCJudAyAtgh6p Bitcoin: 14LW52k8vhHvHaGfmgx48d3su4RcKPyKcc Terracoin Donations for the World Address 1BQH6gBzkxxyMQG3VSJCHnmVGfWu64nbPL Public Slack Invite https://join.slack.com/t/terracoin/shared_invite/MjI4NDQ2ODM0MDIxLTE1MDMwMTgwNzMtYmMzZmExZDIxNg Public Telegram Invite https://t.me/terracoin Newsletter Subscription http://eepurl.com/cYRTwn
When I decided to write this guide, I was throwing cryptocurrencies around like they were nothing. I was foolish in the fact that I disregarded the exchange fees that are attached with the services that those exchanges provided. I'm in by no means a cryptocurrency genius, and I'm still not extremely seasoned at it, but I've learned enough about cryptocurrencies in the past month that I feel confident to pass on the knowledge I have learned and to help those who are overwhelmed on where to start. So what exactly is a cryptocurrency? According to technopedia (n.d.) a Cryptocurrency is a type of digital currency that is based on cryptography. Cryptocurrency uses cryptography for security, making it difficult to counterfeit. Public and private keys are often used to transfer the currency from one person to another. When mining cryptocurrencies, one important concept needs to be established, and that's hash rate. Hash rate is simply a unit of measurement of processing power. The more your hash rate is, the more profitable mining becomes. This guide uses specific sites and software, chosen by myself, as a great springboard into the cryptocurrency world. These sites and software are extremely flexible, easy to use, and integrate very well together. The mining pools I've chosen are multiple currency pools, designed to consolidate a major of the cryptocurrencies together, and instead of using several mining pools, you use three. These are the things you'll need to get started: MultiMiner Accounts at Coinotron, The Mining Pool Co., and BitMinter Accounts at Cryptsy and Coinbase There are a few different ways to mine for cryptocurrencies, the common of which are using your Central Processing Unit (CPU), Graphics Processing Unit (GPU), and Application Specific Integrated Circuit (ASIC) devices. CPU based mining is not profitable any longer, and will cost you money in the end by increasing electricity costs. GPU based mining is still popular, but losing steam against ASIC based mining. If you choose to use your GPU for mining, AMD/ATI based graphics cards (especially the Radeon HD 79xx series of cards), are the most efficient. If you have an nVidia based graphics card, I'm sorry. You can still mine on nVidia cards, but your hash rates are going to be much slower when compared to their AMD/ATI counterparts. If you chose to use GPU mining, Black Friday or Cyber Monday are you best bets for upgrading your equipment. ASIC based mining is quickly losing value with the changing difficulty on all networks, but it's the most cost effective way to increase your hash rate, and see a positive return on any equipment purchases. If my math is correct, using the methods in this guide, in order for any ASIC device to yield a positive cash flow, you've got to get a device that has at least a 5Gh/s rate (such as the Butterfly Labs Jalapeno). Now for the fun part, explaining how everything in this well greased machine is going to work. Patience plays a big part in the cryptocurrency world, and when I first started, I had none. I was so eager to see the amount of Bitcoin go up, regardless of how much I was getting penalized in fees from trading. So, that's the first step on your journey. PATIENCE. I CANNOT emphasize this enough. Sometimes, you've just got to hurry up and wait, the effects of waiting things out on the cryptocurrency market WILL PAY OFF. Step one of this machine is signing up for all three pools (BitMinter, Coinotron, and Mining Pool Co.). This is so that you can actually get server addresses to plug into MultiMiner, after signing up for these services though, you've still got a ways to go. Step two is sign up for Cryptsy. I chose Cryptsy because of the features they're going to offer at a later time, as well as support for 60 cryptocurrencies (which covers all but one of which we can mine). When your Cryptsy account is setup, you will need to go into the Balances portion of Cryptsy, and find all of the currencies in which you will be mining from the pools. Once Balances are loaded up, you will need to click on the Actions button next to the currency, and click Deposit / Autosell, and then Generate Address. There's a small clipboard near the address it generated, and that will copy the address for pasting in the mining pool websites. You will want to copy, and paste all of them to a text document, along with which currency it belongs to. Not only does this keep you from juggling back and forth trying to figure out things, but it helps for reference and setting up MultiMiner. Once you have those accounts setup, you'll want to sign up for Coinbase. A WORD OF WARNING FOR THOSE WHO ARE PARANOID... Coinbase will want to link to a bank account, this is mandatory if you want to trade your currencies for cash. If you want to trade currencies, just for the sake of trading, then you can skip Coinbase altogether. You can transfer your Bitcoins from Cryptsy straight into Coinbase, and then sell the Bitcoins from Coinbase, and straight into your designated bank account. MultiMiner, oh how amazing you are. For every cryptocurrency available in all pools, you will need to add these coins, along with server addresses, log-ins and passwords. To do so, click on the drop down next to the Settings button, and click Coins. From there, click on Add Coin, and choose each coin from a pool. This will list it in the box to the left, and give you the ability to add information on the right. You can add multiple servers as well, in case the current server you're mining on goes down. After all your coins are setup, you'll need to setup your Strategies. Click the drop down next to Settings, and chose Strategies. Check the Enable Strategies check box, choosing Straight Profitability from the drop down, and checking the Strategy every five minutes (that way you're not losing money by mining something that has dropped in price). This aggressive price checking makes it to where you're always on top with whatever you're mining. Also make sure you have Mine the Single Most Profitable Coin selected. Stick with CoinChoose as your price source (under Settings), as CoinWarz charges for there services beyond a certain point. Click Start, and take a vacation. Reading the charts on Cryptsy can be a little tricky, and scary if you've never saw those types of graphs before. Those graphs are called Candlestick Charts, and are used primarily in the stock market. I won't go in to great detail on this, however, you can find a nice cheat sheet on the subject here. I hope everyone enjoyed the guide, sorry for being punctual and brief, but there isn't anything too elaborate of complicated about searching for cryptocurrencies. I love mining as a hobby, mining's fun, and if there is any money to be made off of mining from my end, great, if not, I had fun mining. While compiling a spreadsheet of the minable currencies in this guide, if everything is set up correctly (and assuming servers aren't down), you should be able to mine the following:
And while Mining Pool Co. offers ASICcoin and Unobtainium, ASICcoin isn't supported in MultiMiner, and Unobtanium isn't supported in Cryptsy. I still mine for Unobtanium in hopes that Cryptsy will include it one day. References Cryptocurrency. (n.d.). In technopedia. Retrieved from http://www.technopedia.com/
I just posted another topic about this focusing on online vendors, but I want to reiterate that we really need you asking EVERYONE you want something from to accept your Litecoins. If they know about Bitcoins, be sure to relate Litecoins to Bitcoins and talk about how Litecoins are designed to be more practical for smaller and faster transactions than Bitcoins. Litecoins are particularly great for the quick $1 - 500 transactions that are most common in day to day life, whereas Bitcoins are better geared to larger transactions where you don't mind waiting longer and paying larger fees to be sure they've gone through successfully. If they know about mining, talk about how Litecoins are great because they will be able to take advantage of hardware which will no longer be efficient for Bitcoin mining as ASICs take over the Bitcoin network in the next few months. Tell them how anyone who can buy a graphics card for their computer can mine Litecoins efficiently thanks to the ASIC-protective scrypt algorithm and how that will give more freedom to people in oppressive regimes like Venezuela by giving them a legal and discrete means of acquiring an internationally tradable currency. If they have concerns about chain forks on Bitcoin taking down the network temporarily, talk about how Litecoin is the best fit as a backup chain to provide less risk to everyone of markets coming to a halt when a bug affects one of the networks. Tell them this is because it's as fair as Bitcoin and can be mined with hardware that's no longer useful for Bitcoin mining. If they know about other chains (PPcoin, Terracoin, Novacoin, etc.) tell them how they all have fatal flaws (they would all cannibalize hardware that could be used to mine Bitcoins, for instance). Tell them how most are created by unethical developers (Novacoin and PPcoin were created such that an absurd number of coins were generated in the first week and very few are now... basically a premine, and Novacoin was even worse by actually premining coins and using them as a bribe in order to be accepted on the BTC-e exchange). Litecoin on the other hand was created in an ethical way with no premining, no serious deviations from the Bitcoin philosophy, and in a way that allows it to coexist with a purpose alongside Bitcoin. Litecoin's creator was even invited to speak at this year's Bitcoin conference and is well respected among the Bitcoin community. If they aren't familiar with Bitcoin, tell them about how Bitcoin and Litecoin are based on the same technology which allows a limited money supply and secure transactions and wallets without having to rely on banks. Tell them that they are the product of some of the world's greatest cryptography and networking geeks and are basically the internet of money; they are how everyone will do trade in a decade and they protect the whole world from the capricious instability of central banks. Tell them that since the money supply is forever strictly limited, early adopters will be rewarded if they keep their savings in Bitcoins and Litecoins. If they still only want their normal currency, tell them that it's easy to exchange Litecoins for national currencies with low fees (generally 1% or the cost of a wire transfer) and that Litecoins will still give them better protection from fraud because Litecoin transactions are quickly confirmed and irreversible. If they really want to know more, give them this link: http://redd.it/1bbfdc We need places to spend our coins and vendors stand to gain a lot from supporting Litecoins. At this early stage, every new vendor will be big news in the Litecoin community, so tell them that they should expect free publicity from accepting Litecoins too. So please, tell everyone you want to buy anything from that you want to pay in Litecoins!
I'm expecting a pretty hefty tax return this year and I am also interested in crypto mining. I believe in supporting the networks and would like to buy into Bitcoin but my particular circumstances make it difficult to simply buy them directly. Right now I am interested in mining altcoins and trading for BTC. Currently I'm mining Terracoin on a 1.6 Gh/s Antminer but this is obviously getting me pretty much nowhere in terms of earning coins. Enter the tax return. Amazon is listing several Block Eruptor Cube rigs between $340 and $428. What are your thoughts on these? I'm thinking of buying one with the return. Alternatively I could buy two, or buy one and buy parts to build a decent scrypt miner (thinking of 3 Radeons, 4 GB RAM, simple dual or quad core CPU and a optical drive and small HDD with a Linux OS and KVM switch so I wouldn't need another monitor). I checked on Coinwarz and found a profit of about $6/day with 61,600 Mh/s and 402 watts/day at $0.15/kWh with 1 BTC earned in 2 1/2 months at current difficulty if mining Continuumcoin (which I have never looked into so no idea what the longterm outlook for that might be). This obviously is a scenario with 2 Block Eruptors and the Antminer. What do you think of this setup? I've heard nightmare scenarios with these cubes - melting, catching on fire; but also good things - profitable mining at a relatively affordable hardware cost. Would I be better off investing in the cubes or a scrypt setup?
I've been mining Terracoin for a bit now and just noticed that it's difficulty has skyrocketed in the last day or so. It's now at 2269 where it has been between 300 and 900 for the last several weeks. Looks like people are starting to switch over from Bitcoin to Litecoin, Terracoin, etc. I'm still hoping BFL ships soon so I can get an ASIC up and running and earn a few more Bitcoin.
Maxcoin Fundamentals -- Concept of Difficulty, Difficulty Retargeting & The Kimoto Gravity Well
Dear friends. Below a full article that explains what the Kimoto Gravity Well is and the mathematics involved. TL;DR -- "Difficulty is a measure of how difficult it is to find a new block compared to the easiest it can ever be. Originally its calculated by averaging the time it took to mine blocks during a 2 week period. Due to the influx of ASIC miners and "pool-hopping", mining difficulty can fluctuate dangerously killing or seriously harming the coin (It happened to Terracoin, Frathercoin, Megacoin and Anoncoin). KWG means that difficulty is adjusted after every single block that is mined on the network. It also determines the number of blocks which contribute to the evaluation of the new difficulty. It gives fewer blocks for high hashrate changes and is therefore more adaptive." What Is a Mining Difficulty Readjustment Algorithm, Anyway? To understand what the Gravity Well algorithm is and what it does, you first need to understand what a "mining difficulty readjustment algorithm" is and why is it important for all current cryptocurrencies based off of the original Bitcoin source code. First, let's pull a few important definitions from the Bitcoin wiki: Difficulty Difficulty is a measure of how difficult it is to find a new block compared to the easiest it can ever be. Difficulty Readjustment (for Bitcoin) The difficulty is adjusted every 2016 blocks based on the time it took to find the previous 2016 blocks. At the desired rate of one block each 10 minutes, 2016 blocks would take exactly two weeks to find. If the previous 2016 blocks took more than two weeks to find, the difficulty is reduced. If they took less than two weeks, the difficulty is increased. The change in difficulty is in proportion to the amount of time over or under two weeks the previous 2016 blocks took to find. So basically, the "difficulty" of a coin determines how hard it is for miners to find and mint blocks of that coin. The more miners there are mining a coin, the faster blocks will be found and at the end of this difficulty readjustment period (approximately every two weeks for Bitcoin), the difficulty will change accordingly so that the number of coins minted will follow the intended distribution curve. This has worked well for Bitcoin (so far) because of it's extremely slow adoption rate in the early days and now because of the sheer number of miners on the network. However, this method of difficulty readjustment is flawed for new altcoins entering the market today for a number of reasons which I will discuss below. The History of the Gravity Well Mining Difficulty Readjustment Algorithm When some alternative crypto's like Megacoin were first launched, they used a more traditional difficulty readjustment algorithm based off of Bitcoin's original proposal. In the case of Megacoin, the difficulty was set to retarget every 22.5 minutes based on the same algorithm as Bitcoin, however, the developers later modified the source code to implement Kimoto Gravity retargetting because, by this time, some SHA-256 coins had already felt the pain of difficulty readjustment problems due to the influx of ASIC miners and an activity known as "pool-hopping". If you are familiar with cryptocurrency mining at all, you may already know that in most cases, solo mining is usually impossible without extremely powerful hardware due to the large number of people now aware of cryptocurrencies and willing to mine for them. Most miners mine through pools, which provide proportional payouts of coins based on the amount of hashing power you provide to the network. This mitigates some of the risk of mining in that you receive a steady stream of coins based on your network hashing rate, so even small-time miners can still earn their share of the pie. However, as pool mining became more popular and more altcoins arrived on the market, services known as "multipools" began to appear. These were special pools that allowed miners to automatically switch to the "most profitable" coin to mine based on the current exchange rates. However, these new multipools introduced some new problems to the cryptocurrency landscape, one of those being major difficulty readjustment woes. As some altcoins began to rise in price several months after its inception, it started to become a target for these multipools. What happens when this occurs is that suddenly the You-Name-It-Coin network gets barraged by an influx of new (and very powerful) miners. This causes the block confirmation time to plummet and subsequently causes the difficulty to skyrocket at the next difficulty readjustment. When this occurs, the mining profitability also drops due to the higher difficulty which then in turn causes all of the multipool miners to leave the network in search of the next most profitable coin. What remains is an extremely high difficulty and only the "core" group of a certain altocin's miners left to deal with the aftermath. In extreme cases, the difficulty may be so high in proportion to the number of miners left that the entire network grinds to a halt. This has happened in the past to Terracoin and Feathercoin, among others. The only solution if this occurs is to hard fork the coin in an attempt to readjust the difficulty (or change the difficulty readjustment algorithm) or simply grind out the mining at an extremely slow pace (during which time the coin is basically unusable) until enough blocks are found to make it to the next difficulty readjustment. The more blocks required until the next difficulty readjustment, the longer this period of unusability will be, and in some cases could mean the death of the coin completely unless drastic measures are taken. When this happened to Megacoin for example, Kimoto decided to come up with a better way to perform difficulty readjustment, and the result is the Kimoto Gravity Well (which is now also used as the difficulty readjustment algorithm for Megacoin, Maxcoin, Anoncoin among others). Gravity Well: Explained Now that you know how the Gravity Well came to be, let's take a look at what exactly it does and how it works. At the most basic level, Kimoto has changed how difficulty readjustment works so that the difficulty is adjusted after every single block that is mined on the network. The formula for the Kimoto Gravity Well (KGW) is the following KGW = 1 + (0.7084 * (PastBlocksMass/144)-1.228) The goal is to have a more adaptive way of adjusting the difficulty instead of just averaging the last 2016 blocks like bitcoin. This is needed because of multipools which might switch the coin they are mining, and a sudden change in hashrate can occur (both increasing or decreasing). Especially when a multipool switches away you get stuck too long with a too high difficulty. The algo loops backwards through the blocks, starting from the current one. The PastBlocksMass is just the number of blocks, so it starts at one and increases in each loop. In each loop an adjustment factor is computed, which is the target block time divided by the actual block time, in a cumulative fashion, so at loop 10 we would have the 25 minutes target time divided by the time it actually took to compute the last ten blocks. When the hashrate increases, we get shorter times and an adjustment factor greater than one and vice versa. The loop ends whenever the average adjustment factor is larger than the kimoto-value, or smaller than 1/kimoto-value. Summary: the Kimoto gravity well algo has a fancy name and determines the number of blocks which contribute to the evaluation of the new difficulty. It gives fewer blocks for high hashrate changes and is therefore more adaptive. More details on the math's involved and a practical example can be found here :: https://bitcoin.stackexchange.com/questions/21730/how-does-the-kimoto-gravity-well-regulate-difficulty NOTE:: The two original post that inspired this article were focused solely on Megacoin. I made some small modifications to them so the post can be applied to any cryptocurrency on the market. Below the references. Original Post 1 (History & Background) --- https://forum.megacoin.co.nz/index.php?topic=893.0 Oroginal Post 2 (Mathematics & practical example) -- https://bitcoin.stackexchange.com/questions/21730/how-does-the-kimoto-gravity-well-regulate-difficulty Original Release note of the Kimoto Gravity Well -- https://bitcointalk.org/index.php?topic=240861.msg3040291#msg3040291 We have to know very well the fundamentals of what we love. Have a great day
So I was watching the terracoin block explorer (waiting for the new difficulty retargeting algorithm to kick in), and in anticipation I fired up my TRC wallet and started solo mining right around when 101631 was discovered. Instantly I started noticing, about every minute my miner was discovering new blocks! I got an insane rush, as I had within a matter of minutes amassed about 220 TRCs! I thought, better ride this out until the other miners catch on. It was amazing to have the feeling that only those with lots of GH/s or the early Bitcoin pioneers have... Sadly, I quickly came to the realization as the balance disappeared from my wallet that it had not fully synchronized with the network yet. Guess I'm gonna keep going in the hopes that I'll at least find one block with my paltry 6870 while Coinotron's TRC pool is down and the difficulty is still relatively low. TL;DR Solo miners always make sure your wallet is up to date. Like any high, it only lasts for a little while.
The Newbie's Guide to the Kimoto Gravity Well Many of you may have heard of Kimoto's Gravity Well and that it is supposedly a major part of what makes Megacoin unique from other cryptocurrencies. However, many of you may also not know what exactly it is and what makes it so special. If that is the case, then this guide is for you. What Is a Mining Difficulty Readjustment Algorithm, Anyway? To understand what the Gravity Well algorithm is and what it does, you first need to understand what a "mining difficulty readjustment algorithm" is and why is it important for all current cryptocurrencies based off of the original Bitcoin source code. First, let's pull a few important definitions from the Bitcoin wiki: Difficulty Difficulty is a measure of how difficult it is to find a new block compared to the easiest it can ever be. Difficulty Readjustment (for Bitcoin) The difficulty is adjusted every 2016 blocks based on the time it took to find the previous 2016 blocks. At the desired rate of one block each 10 minutes, 2016 blocks would take exactly two weeks to find. If the previous 2016 blocks took more than two weeks to find, the difficulty is reduced. If they took less than two weeks, the difficulty is increased. The change in difficulty is in proportion to the amount of time over or under two weeks the previous 2016 blocks took to find. So basically, the "difficulty" of a coin determines how hard it is for miners to find and mint blocks of that coin. The more miners there are mining a coin, the faster blocks will be found and at the end of this difficulty readjustment period (approximately every two weeks for Bitcoin), the difficulty will change accordingly so that the number of coins minted will follow the intended distribution curve. This has worked well for Bitcoin (so far) because of it's extremely slow adoption rate in the early days and now because of the sheer number of miners on the network. However, this method of difficulty readjustment is flawed for new altcoins entering the market today for a number of reasons which I will discuss below. The History of the Gravity Well Mining Difficulty Readjustment Algorithm When Megacoin first launched, it used a more traditional difficulty readjustment algorithm based off of Bitcoin's original proposal. (Author's note: I have forgotten what the original implementation was for Megacoin, but if anyone knows the details please let me know so I can put that here for perspective and history's sake.) By this time, some SHA-256 coins had already felt the pain of difficulty readjustment problems due to the influx of ASIC miners and an activity known as "pool-hopping". If you are familiar with cryptocurrency mining at all, you may already know that in most cases, solo mining is usually impossible without extremely powerful hardware due to the large number of people now aware of cryptocurrencies and willing to mine for them. Most miners mine through pools, which provide proportional payouts of coins based on the amount of hashing power you provide to the network. This mitigates some of the risk of mining in that you receive a steady stream of coins based on your network hashing rate, so even small-time miners can still earn their share of the pie. However, as pool mining became more popular and more altcoins arrived on the market, services known as "multipools" began to appear. These were special pools that allowed miners to automatically switch to the "most profitable" coin to mine based on the current exchange rates. However, these new multipools introduced some new problems to the cryptocurrency landscape, one of those being major difficulty readjustment woes. As Megacoin began to rise in price several months after its inception, it started to become a target for these multipools. What happens when this occurs is that suddenly the Megacoin network gets barraged by an influx of new (and very powerful) miners. This causes the block confirmation time to plummet and subsequently causes the difficulty to skyrocket at the next difficulty readjustment. When this occurs, the mining profitability also drops due to the higher difficulty which then in turn causes all of the multipool miners to leave the network in search of the next most profitable coin. What remains is an extremely high difficulty and only the "core" group of Megacoin miners left to deal with the aftermath. In extreme cases, the difficulty may be so high in proportion to the number of miners left that the entire network grinds to a halt. This has happened in the past to Terracoin and Feathercoin, among others. The only solution if this occurs is to hard fork the coin in an attempt to readjust the difficulty (or change the difficulty readjustment algorithm) or simply grind out the mining at an extremely slow pace (during which time the coin is basically unusable) until enough blocks are found to make it to the next difficulty readjustment. The more blocks required until the next difficulty readjustment, the longer this period of unusability will be, and in some cases could mean the death of the coin completely unless drastic measures are taken. When this happened to Megacoin, Kimoto decided to come up with a better way to perform difficulty readjustment, and the result is the Kimoto Gravity Well (which is now also used as the difficulty readjustment algorithm for Anoncoin as well after it met a similar fate as that described above). And thus, we have the Megacoin we know and love today. Next I will discuss what exactly the Gravity Well does and how it works to keep mining stable and fair for all Megacoin miners and users. Gravity Well: Explained Now that you know how the Gravity Well came to be, let's take a look at what exactly it does and how it works. At the most basic level, Kimoto has changed how difficulty readjustment works so that the difficulty is adjusted after every single block that is mined on the network. I'm not 100% sure about the exact mathematics behind the calculations, but so far since its introduction on the network the difficulty has adjusted smoothly and flawlessly no matter how many miners there are on the network and even throughout the huge price (and subsequent mining hash rate) increase we have seen over the past couple of weeks. This keeps mining fair and secure for all miners and users of the coin, and prevents the rampant multipool abuse that was (and still is) common with most all other altcoins out on the market today. This is even more important to consider when one day ASIC miners are developed for Scrypt coins and a small number of miners will suddenly have access to extremely powerful mining hardware. If and when this occurs, a malicious (or simply greedy) miner can simply point his or her ASIC miner at any Scrypt-based coin and cripple it because of the extreme difficulty fluctuation this will cause. (This is actually what happened with Terracoin after SHA-256 ASICS began to flood the market.) Megacoin, however, will be safe from this type of malicious mining behavior due to the smooth difficulty readjustment that Kimoto's Gravity Well provides. Hopefully this will act as a guide for new investors to Megacoin who may have heard about Gravity Well but are not quite sure what it means or what it even is. If any of you have anything else to add to this, please post! Information is power. :)
Uncle Bubs is selling three Antminer U2s. These are USB sticks that mine sha256 currencies at 2.0GHs (manufacturer recommended, although I run them at 2.2GHs with no problem), using almost no power (2 watts). Included when you buy from me is a quick start kit, including BFGminer preconfigured to work with your Antminer, the device drivers, and a tutorial on how to start mining. All of my miners have been tested to verify they work and overclock properly. Antminers can be seen on Amazon here for $27.50; I’m selling mine for $20 plus $1.99 shipping, or free shipping if you buy all three. The price is the Coinbase price in USD at the time of sale. Ships to the United States only. Uncle Bubs accepts Bitcoin as payment; contact me at [email protected]. Or, if you’re more comfortable with credit card transactions, you can buy them at my Ebay auction. Note that, while you may see some on Ebay for around $14, those are auctions. Having tried and failed many times to buy something from an Ebay auction only to be outbid at the last second (literally the last second), I only use “Buy it Now” now. Antminers will mine any sha256 currency, including (but not limited to):
A brief overview of the coins featured in the /r/cryptocurrency sidebar
I just noticed that the sidebar listing "Cryptocurrency Subreddits" seems to be kind of a hodgepodge of new and old, live and dead coins. So, I thought I'd click through and give a brief report on what manages to get free advertising: /Aeon Last post 2 days ago. 372 subscribers. The infamous americanpegasus is a mod there. /Anoncoin Last post 1 month ago. 322 subscribers. Seems pretty dead, and they're CSS is so broken I don't think I could even subscribe if I wanted to, which is a shame because I know they just released a major upgrade and have plans for the future. /btc Last post 17 min ago. 16666 subscribers. The "Ver"itable alternative to the realm of the iron-fisted thermos and company. /Bitcoin Last post 10 min ago. 177894 subscribers. A bit less active now, since the whole rule-with-an-iron-fist dictate from lord thermos, but still the king of crypto subreddits. /BitcoinXT Last post 9 hours ago. 13647 subscribers. This one really took off during the initial push to fork to XT and the thermos banning spree and long dictates, but it's died down quite a bit, and I would say has been largely supplanted by /btc. /burstcoin Last post 27 days ago. 115 subscribers. Pretty dead. BURST has a decent community on bitcointalk that is still fairly active, I guess they just don't reddit much. /Blackcoin Last post 17 hours ago. 6323 subscribers. Seems not too active, but not dead. I don't know much about Blackcoin, not a big fan of PoS. /CryptogenicBullion Last post 1 year ago. 290 subscribers. This is the first one that I would say is totally dead. Dead, dead, dead. Even one of the posts from a year ago is titled "CGB dead???" /Devcoin Last post 7 months ago. 202 readers. Also seems pretty dead, which is a bit sad, as devcoin was probably the first coin to launch with a goal of funding decentralized development, which is quite the hot topic lately. Also, I like their devtome site listing fast/insta/ninja/pre mines /Digibyte Last post 3 days ago. 2074 subscribers. Seems decently active, though not much discussion going on in the comments. /digitalcoin Last post 2 months ago. 464 subscribers. Seems pretty dead. I wouldn't say completely dead...but pretty dead. /Dogecoin Last post 52 min ago. 77467 subscribers. Wow! Many subscribers! Such posts! Much tipping! /dashpay Last post 5 hours ago. 1800 subscribers. Seems pretty active. Not much discussion. Might expect a bit more from such a high marketcap coin...or not. /ethereum Last post 23 min ago. 13886 readers. Lots of activity, posts and discussion. /ethtrader Last post 29 min ago. 5096 readers. The only trading subreddit to make it on the list, not even /BitcoinMarkets got on there, but the ETH traders managed to get on there somehow. /FeatherCOin Last post 10 days ago. 3469 subscribers. Some posts popped up when price started pumping a few weeks ago. Not much discussion going on, but not dead either. /flappycoin Last post 3 months ago. 502 subscribers. Seems pretty dead for last six months at least. /gridcoin Last post 4 hours ago. 1105 subscribers. Seems like a pretty active community. Not huge, but at least a couple comments on almost all posts, so not just link spam. /litecoin Last post 3 hours ago. 21976 subscribers. Not the gold standard, but let's give them the silver medal for participation. /maidsafe Last post 9 hours ago. 1336 subscribers. They just need one more subscriber to make it to 1337 level. /mazacoin Last post 25 days ago. 319 subscribers. Seems pretty dormant, not dead, but not really active. /maxcoin Last post 3 months ago. 543 subscribers. I would lean towards dead, or at least on its death bed. /megacoin Last post 7 months ago. 377 subscribers. Pretty much dead. /MintCoin Last post 14 days ago. 1320 subscribers. Seems like decent little community, some posts with quite a bit of discussion in them. /Monero Last post 4 hours ago. 3427 subscribers. Quite a bit of activity, with some discussion on almost all of the posts. /mooncoin Last post 8 months ago. 639 readers. Seems pretty dead, guess they didn't make it to the moon... /myriadcoin Last post 15 days ago. 781 subscribers. Pretty small community, but decent discussion on a lot of posts. Full disclosure, I'm a mod on /myriadcoin. /Namecoin Last post 1 day ago. 2471 subscribers. Quite a bit of activity and some discussion going on. To be honest, I didn't expect to see much going on here. /NobleCoin Last post 7 months ago. 239 subscribers. They died for a noble cause...I guess. /NuBits Last post 1 day ago. 436 subscribers. Seems decently active, with some discussion on some threads. /NXT Last post 1 day ago. 1283 subscribers. Decent amount of posts, but not much discussion in most of the threads. /nyancoins Last post 3 days ago. 824 subscribers. coinaday's home turf (he's also a mod at /CryptoCurrency). Not a huge amount of posts, but some good discussion in a lot of them. /Lisk Last post 7 hours ago. 1300 subscribers. Pretty good activity and discussion seems to be happening here. /peercoin Last post 22 hours ago. 3150 subscribers. Decent amount of posting, but doesn't seem like a lot of discussion among peers here. /primecoin Last post 27 days ago. 1437 subscribers. Not a lot of commenting or posting happening in prime time, or any other time, here. /QuarkCoin Last post 1 month ago. 1645 subscribers. Not much activity or discussion lately, but still seems alive I would say. /reddCoin Last post 1 day ago. 22447 subscribers. Not much activity based on how many subscribers they have, but without looking at that number seems like a decent amount of posts and comments happening. /ripplers Last post 4 days ago. 1154 subscribers. It's not dead (got nothing good to say about this 100% premined corporate token). /Stealthcoin Last post 6 months ago. 221 subscribers. Seems pretty dead, unless they're being extremely stealthy with their activity, or something. /TaCoCoin Last post 1 month ago. 314 subscribers. Not totally dead, I guess, but why? Why tacos? Whhhyyyyyy? Now I want some al pastor. /Terracoin Last post 3 hours ago. 408 subscribers. Not much discussion at all, but decent amount of posting going on. /TheRealPandacoin Last post 2 years ago. 341 subscribers. There's literally only one post and one comment in this whole sub. Why the fuck is this shit on here? /TopCoin Last post 4 months ago. 239 subscribers. Seems quite dead, last post with any comments is a year ago. /vertcoin Last post 1 day ago. 4183 subscribers. Not much activity for as many subscribers as they have, but still a decent amount of posts being posted, and some discussion happening on almost all of them. Whew! That took longer than I expected. Not as many dead ones as I thought there would be either. After clicking through all of them, my recommendations would be:
With bitcoin mining operations taking root in locations across North America, from British Columbia to Georgia, it is rapidly becoming an epicenter for the entire Bitcoin sector. As the operations described above continue to expand and flourish, the region’s slice of the industry is only set to expand. As it does, Ryan Porter at BitOoda has his work cut out for him just answering calls from ... Coin : Terracoin Symbol : TRC Last price : average 0.00005869 ฿, 0.00028628 (24/H), 0.00004001 (24/L) Difficulty : average 1,083,848.41484, 2,063,930.234 Terracoin mining information - including a Terracoin mining calculator, a list of Terracoin mining hardware, Terracoin difficulty with historical charts, Terracoin hashrate charts, as well as the current Terracoin price. Bitcoin's total coin emission can be calculated as the sum of a geometric series, with the total emission approaching (but never reaching) 21,000,000 BTC. This will continue until 2140, but the mining reward reduces so quickly that 99% of all bitcoin will be in circulation by 2036, and 99.9% by 2048. Bitcoin uses SHA-256 as its proof-of-work scheme, but there are a few other major alternatives of Bitcoin that use SHA-256 and can be mined the same way as Bitcoin and with the same hardware including the specialized Bitcoin ASIC hardware miners. These are Namecoin, Devcoin, IXCoin, Freicoin, Peercoin, Terracoin, Zetacoin and others. You can mine these coins and then trade them at crypto ...
Get Free VPS For Mining. Tutorial Mining Bitcoin. LIKE and SUBSCRIBE if you enjoyed this video! Free Training Reveals Powerful Viral System that generate... This video is unavailable. Watch Queue Queue. Watch Queue Queue "The truth about mobile phone and wireless radiation" -- Dr Devra Davis - Duration: 1:01:30. The University of Melbourne Recommended for you 5 Möglichkeiten um in Bitcoin zu investieren - Bitcoin Mining & Co. ⛏ - Duration: 18:30. Talerbox Invest Smart 71,432 views. 18:30. Understanding Shoulder Pain and How To Fix It - Duration: 13:48. Bitcoin Mining: Wie beim realen Goldschürfen ist auch beim Bitcoin Mining die richtige Ausrüstung entscheidend für den Erfolg oder Misserfolg der Unternehmung. Vereinfacht gesagt ist das Mining ...