Analyst: Bitcoin Momentum is Building, a Price Breakout Imminent
Analyst: Bitcoin Momentum is Building, a Price Breakout Imminent
Although Bitcoin’s price has been quiet over the past few weeks, ranging between $6,000 and $7,000, a prominent financial analyst says that this month’s price action reminds him of that of September of 2017, which notably preceded the massive bull run that occurred late last year and into the first week of January of this year.
Bitcoin has done decently well over the past few weeks, ranging…
BitPay Exec: Bitcoin Will Bounce Back, Not So Sure About ICO Market
BitPay Exec: Bitcoin Will Bounce Back, Not So Sure About ICO Market
An executive at cryptocurrency payment service BitPay has stated that he believes Bitcoin is far from dead. Sonny Singh is much less optimistic about the future of the altcoin and ICO markets, however.
Lots of Potential Catalysts for Another Bull Run for Bitcoin
Every time the cryptocurrency market takes a nosedive, those who do not believe in the financial innovation led by Bitcoin take glee in…
What is Stellar and Why was it the Sixth Most Important Cryptocurrency by Market Cap?
Stellar (XLM) is not a very known cryptocurrency. It is not usually in the front page of most of the news sites and it is not the most accepted cryptocurrency. Since Christmas, this cryptocurrency has started to grow exponentially. Let’s have a look at this virtual currency.
What is Stellar and Why was it the Sixth Most Important Cryptocurrency by Market Cap? was originally published on CoinStaker | Bitcoin News
It seems that the famous phrase “divide and conquer” does not apply for the branched Bitcoin currency. 2017, the year of the hard forks for Bitcoin, had, by far, the best performance since it was born.
Bitcoin Is Outperforming Most Of The Alt-Coins was originally published on CoinStaker | Cryptocurrency News
This Blog is not just copying other links
X11 and Scrypt-n mining alt-coins - hold them and see if they gain value.
While it could be nice to have a link feed on bitcoin, I am writing my own personal journey of discovery, fun and entertainment. To me it is a bit like playing some old "railroad tycoon" game. People think they might get rich, well they might, but if it was that easy the money would be divided over everyone else who heard. That is what we see now, a game of diminishing returns and impermanence.
I still mine with my tiny rig of USB miners. I was running a few video cards too but that became fairly pitiful of late - my once huge deluge of dogecoin now is just nothing. Days and days might only get me 300 doge. I see a lot of sad youtube videos where people called it quits with their home made mining rig - having got in too late. Perhaps the electricity bills were too high - this is why i tend just to use computers and graphics cards i have operating anyway since i have a network of computers i use for video streaming and other tasks. I have computer power i can, within reason, repurpose. I am not so greedy as to buy 6 video cards and use the electricity.
So i investigated, mostly thanks to Multipool.us being such a comprehensive pool, using X11 and Scrypt-n.
If you turned off your mining Rig or you heard nVidia cards are no good, look at X11 mining. Search it out - i have ccminer running x11 (cudaminer i had before for scrypt). A card that had trouble getting 400khash now gets 2000khash - at least of that X11 kind of hash. People report less heat from the video card, that means less chance of it getting killed off sooner by mining burn-out. Less heat means less electricity burned - but still i am not sure if it really pulls less electricity since my card is at 99% GPU usage.
X11 via Multipool has been earning me Darkcoin and Urocoin which it seems the pool deems most profitable. I believe i will try to hold these coins until later.
Scrypt-n - using the Scrypt:2048 algorithm option on cudaminer is mining a little Vertcoin for me. I followed this guide to some degree http://give-me-coins.com/support/n-scrypt-guide/
These algorithms are designed to prevent coins from being pwned by the central mining companies and their ridiculous ASIC based farms. Some mining companies still use a lot of video cards so soon cloud-mining will be available, but why isn't it available yet for X11 and Scrypt-n - probabaly because its not poor return enough for them to "share" ie contract it out to you. They always keep it for themselves until they need to get a quick ROI by contracting it out.
Probably not so immediately profitable but these are coin you could hold and if you prefer the mining way than the trading way. Though if you are going to hold perhaps buy some
What if you stopped this because house/room was too hot. Well with northern hemisphere winter hitting soon, you can instead of using other energy or heaters - use your rig as a heater. Then you get some 2 things for the price of one effect - this is in the world of design (even permaculture farming) - known as making use of the waste product.
What possible connection could there be between the two... other than we'd all love to go back to 2009 and start mining, buying or somehow investing in Bitcoins, or even some of the more popular alt-coins.
In fact for me, it is about as close as I will get to being Michael J Fox going back in time, as I just bought all the components for a cryptocurrency mining rig.
Other than the occasional RAM upgrade, the last time I was putting together any computer from components was likely circa 1992, when I was regularly connecting serial cables together with friends, trying to get a playable 3-way multiplayer LAN session of Doom going.
On the weekend I plan to put together the rig (I hesitate to call it a desktop computer as it, like many of its brethren, will be mounted in a laundry basket, milk crate, or other yet to be divined air flow friendly container). The whole set of components to initially get started cost under $700, less than I paid for an 8 MB (yes that's Megabyte) memory module back in '92.
When figuring out how to get started, I used a number of excellent blog posts to determine HOW to build a mining rig, but what was invariably missing from all of them was WHY. If you are like me, I cannot simply take a list of ingredients and follow the recipe blindly, I need to understand the reason why we are doing this or that.
Why is understanding the WHY important? Well, in this case, I think the immediate opportunity to profit vastly via mining as an individual is already past (although a reasonable profit is not out of the question). But just like when websites started popping up around '92, it wasn't until 1998 to 2000 that domain names, dotcoms and other opportunities started to truly monetize the opportunity. But to capture that unknown opportunity one must understand the foundation it is build on, which means understanding as much about cryptocurrencies as possible, which includes practical experience.
As such I plan to blog over the coming weeks on the three current opportunity that I can see right now from which a person can profit from cryptocurrencies, which are:
Mining
Investing (directly and indirectly)
Entrepreneurship
I had initially pursued the investing angle first as it offered seemingly the least number of barriers to entry, I came to realize there are in fact some barriers. And while I did invest a bit, which I will talk about when I blog about the Investing opportunity, I decided to switch gears and focus on developing a deep understanding of the space, which starts with mining, with the ultimate goal of taking advantage of opportunities in the third realm of entrepreneurship.
I expect the next installment or two in this series of blog entry will be fairly technical in nature and likely focus on the hardware configuration (and later modding and overclocking), software configuration and utilizing the cryptocurrency services such as mining pools and cryptocurrency exchanges, after which I will turn to the investment and lastly the entrepreneurial opportunities.
I will mention that I have deliberately chosen to focus on the more generic opportunity around cryptocurrency as opposed to Bitcoin which is the current leader in the space. The reason for that is simple, the past few years have shown that often the first to forge in a revolutionary space is often the one that meets the most resistance from the established stakeholders in the space. (Think Napster, or even Palm, Netscape, RIMM, My Space). And there are a lot of big 800 pound Gorillas who are only now starting to take notice of Bitcoin (and its brethren), such as Paypal, Visa, Mastercard, the global banking institutions, and all of the federal banks and governments of the world.
While I do not believe these organizations really see Bitcoin as a threat yet, they are already starting to take actions in place to make it more challenging for Joe Public to enter the space, especially as enterprising individuals find ways to break down the challenges that exist for greater adoption of cryptocurrency. It does portend for an eventual conflict if growth continues, and Bitcoin might be the ultimate target (and scapegoat) for the majority of that conflict. I will definitely want to pursue this line of thought in a post as well.
I think that is a good initial chronicle of the beginning of my cryptocurrency journey for which the first stop is a Back to the Future moment for me. I'll continue the journey in my next post, but speaking of Back to the Future, apparently the fourth installment is in the works. If Hollywood can resurrect this classic franchise, then certainly I can go back to my roots of how I got into Information Technology putting together hardware computers.
