🤷 Opinions Eric Eissler

Bitcoin Strikes Back

Opinions
Given the prominence on the market, and given the fact that it is the universal trading currency on exchanges (i.e., Bitcoin is used to buy and sell other cryptos) it is not going to collapse because it is the backbone of the crypto market, the potential
Bitcoin Strikes Back

“Bitcoin is a bubble, Bitcoin is tulip mania, Bitcoin is worthless, Bitcoin is dead.” There is an overabundance of negative press towards Bitcoin in the media currently.

When prices fluctuate sharply, it’s easy to forget that: Bitcoin made a lot of people rich; Bitcoin broke down the door for Blockchain technology; Bitcoin started the cryptocurrency revolution; Bitcoin is more than a currency, it’s driving future Internet technologies.  

Bitcoin is Drives IT to next level

Bitcoin is not a housing market, nor is it a commodity, it’s a new technology and any new technology must pass through phases of understanding and acceptance.

There are many “oracles” who predict one thing or another: Bitcoin price is going to the moon or it’s going straight to the depths of Hell. No one can say for sure, where it is going or what it is doing because it is new and is unlike anything humans have seen before.

Now, is the time to learn, watch for patterns, understand behaviors; it is mainstream.

“In the final quarter of 2017, Bitcoin increased in value unlike anything ever seen before. It broke the 10,000-dollar psychological barrier and it rapidly increased to touch $20,000 before crashing down to below half of its value.”

Yes, Bitcoin is volatile. Over its nine-year existence, it has risen and fallen sharply. It is only now criticized heavily by the masses because they either missed out or lost in the recent crash—of course, they will curse it.

Remember, human memory is short, it easily forgets, and is shortsighted. Throughout January 2018, there has been a lot of talk of fear, uncertainty, and doubt (FUD) because Bitcoin came crashing down and brought the rest of the market with it.

That’s ok, it’s normal for markets to correct, investors want to take profits. The FUD talking only makes it worse for everyone else.

Normal profit-taking becomes negative

The stock market hit an all-time high of more than 26,000 points and after two years of magnificent growth, it slid two percent on Friday, Feb. 2nd. What happens next? Fear permeates the air, and there are whispers of the market starting to weaken.

Stop it! It’s normal. Investors take profits, not taking profits defeats the point of investing. Of course, with a massive run up people will divest and enjoy some of their gains. With lower prices on the market, investing becomes more attractive to others who join in and start the next rally upwards.

Short sellers and futures contracts collapse cryptocurrency markets

During the tulip bubble of the 1700s, the market downturn started when trading futures on tulips began; then all of a sudden the tulip market collapses and it's over.

The bears won, the futures contracts pushed the prices down and ate away at support levels.

The recent contracts offered on the CME and CBOE in December 2017, commenced the selloff of Bitcoin as traders set stop-limit orders at support levels to trigger a major selloff.

However, given the speculation, given the prominence on the market, and given the fact that it is the universal trading currency on exchanges (i.e. Bitcoin is used to buy and sell other cryptos) it is not going to collapse because it is the backbone of the crypto market, the potential for it to regain ground is tremendous.

🤷 Opinions
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Stavros Georgiadis

Cardano: Business Prospects and Challenges

Сardano is the first Blockchain platform to evolve out of a scientific philosophy and a research-first driven approach
Cardano: Business Prospects and Challenges

Cardano is a decentralized public Blockchain and cryptocurrency project and is fully open source. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first Blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. The development team consists of a large global collective of expert engineers and researchers.

Cardano is home to the ADA cryptocurrency, which can be used to send and receive digital funds. This digital cash represents the future of money, making possible fast, direct transfers that are guaranteed to be secure through the use of cryptography. Cardano is more than just a cryptocurrency, however: it is a technological platform that will be capable of running financial applications currently used every day by individuals, organisations and governments all around the world.

The platform is being constructed in layers, which gives the system the flexibility to be more easily maintained and allow for upgrades by way of soft forks.

image

It is a 3rd generation smart contract and dApps platform with a focus on scalability, interoperability, and governance. It is open source and peer reviewed, and is supported by 3 entities: the Cardano Foundation, IOHK, and Emurgo. It has its own wallet called Daedalus, which supports the ADA token. The consensus mechanism is Proof of Stake, and it has its own protocol called Ouroboros. Thanks to on-chain governance, token holders vote on changes and the use of funds.

The biggest technical advantages and biggest shortcomings

Pros:

  • It is solving infrastructure-level problems, the technology is secure, flexible, and scalablefor use by many millions of users. It aims to balance the needs of users with those ofregulators and in doing so combines privacy with regulation. The vision for Cardano is that its new style of regulated computing will bring greater financial inclusion by providing open access to fair financial services for all.
  • Extensive peer review process
  • Very transparent with decisions, many constant updates, audit reports, posts
  • Experienced team of engineers and researchers
  • Development progress is shown on GitHub with many updates
  • Proof of Stake is more efficient compared to Proof of Work
  • It has a two-layer design which can be optimized separately, a settlement layer, and a control layer

Cons:

  • Unproven design choices and questions whether they will work over time, designed from scratch to solve problems on scalability, interoperability and governance
  • Still behind Ethereum and NEO, as the former already has large network effects
  • Increased competition from other 3rd generation platforms is expected
  • Will projects adopt Cardano when it is ready? There is a long time frame with many features still left to build in the next years. Other projects are already ready
  • Danger of potentially being over-complicated with many features
  • The supply is still centralized. Initial distribution was made privately in Japan; top 100 addresses own almost 75% of all the ADA cryptocurrency

Most notable investors, core team

The first Initial Coin Offering by the Cardano Foundation, from Oct. 2, 2015 to May 5, 2017, raised $62.2M, with one major investor, Julian Sarokin, as an Individual/Angel type of investor. For the Secondary Market fundraising by the Cardano Foundation, with an announced date of Oct. 2, 2017, the main investor was James Sowers, an ICO and Crypto Asset Ambassador. In the latest Initial Coin Offering held by the Cardano Foundation, $10K was raised on January 1, 2018. The main investor was Yellow Arrow, an Individual/Angel type of investor.

The core team of the Cardano project is as follows

There are three organisations that are contributing to the development of Cardano. The first is the Cardano Foundation, an independent standard body based in Switzerland with core responsibilities to support the community of Cardano users and to work with authorities on regulatory and commercial matters. The second entity working on Cardano is IOHK, a leading cryptocurrency research and development company, which holds a contract to develop the platform until 2020. The final business partner is Emurgo, which invests in start-ups and assists commercial ventures to build on the Cardano Blockchain.

Recently, Cardano has introduced a much more advanced version of the Cardano paper wallet, one that is more secure and usable. It is also working to create a faster wallet, one that synchronizes with the Blockchain almost instantaneously. They are working on quality partnerships, such as with Metaps Plus mobile systems, which is important in the South Korean market.

“The key objective of the team remains creating a smart contract platform which will deliver the most scalable, transparent and advanced features to digital currency fans. Cardano was founded by the co-founder of Ethereum, Charles Hoskinson, who invested all his lessons learnt from the mistakes and gaps of Ethereum into the greatest 3rd generation platform - Cardano.”

Top 3 competitors and tokenomics

Based on the market cap for the Top 100 Cryptocurrencies on coinmarketcap.com, as of June 19, 2018, Cardano is ranked in 8th position with a market cap of $4.329.380.020. The top 3 competitors for Cardano are Litecoin, IOTA, and EOS, as these cryptocurrencies have almost similar market caps. The demand for these 3 cryptocurrencies will weigh on their price value in the future, with a focus on business and even marketing solutions to give any competitive edge to any of them, including Cardano.

Cardano charts

Since the introduction of both the Bitcoin and Ethereum protocols, a few problems emerged. Two gaping issues include the scalability of transactions for Bitcoin, and the bugs stemming from Solidity as the standard coding language in the Ethereum network. Named after influential Italian Renaissance polymath, Gerolamo Cardano, Cardano (or ADA) is a Blockchain protocol currently being developed by IOHK (Input Output Hong Kong). Cardano aims to address these issues (among many others) and create a platform to execute smart contracts and to develop and run decentralized applications more efficiently (in addition to launching side chains, multi-party computation, and metadata.)

The protocol itself launched on Sept. 29, 2017, after two years of rigorous research and development by a robust community of academics comprising of the world’s leading scientists, cryptographers, and researchers. The aspect of Cardano’s peer-reviewed development process differentiates itself heavily from other Blockchains.

Ada (ADA) is the name of the cryptocurrency on the Cardano Blockchain. It will have a total supply of 45 billion. ADA will allow users to send value between two parties, pay for a good or service, deposit funds on an exchange, or enter an application.

“Cardano will be built in Haskell code. Haskell uses a math-based approach that results in a much more secure and reliable protocol. The protocol is geared towards protecting privacy rights of users, while also taking into account the needs of regulators. In doing so, Cardano is the first protocol to balance these requirements in a nuanced and effective way, pioneering a new approach for cryptocurrencies.”

The Cardano project seems to have a lot of potential based on its approach, consistency and transparency, and its business purposes for financial transactions. It appears to be flexible, safe, and innovative. However, there are already other competitive projects active, and competition is about to increase further. Cardano has a very active social media presence, is popular on Alexa rankings, and is also active on GitHub. This shows increasing interest. If we had to choose a scenario, we would go with the bullish scenario. The pros seem more than the cons now.

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Cryptotips George Shnurenko

5 Best GPUs For Mining Cryptocurrency in 2018

💡 Cryptotips
Which GPUs for cryptocurrency mining could help you save on costs
5 Best GPUs For Mining Cryptocurrency in 2018

Remember when cryptocurrency just came into the limelight and mining was seen as a thing for only a select few? Remember how they made it appear as though it is impossible for just anyone to become a cryptocurrency miner? Well, the rules have changed. Now, you just need to find out the best GPU for mining and the rest is history.

If you have a friend who keeps asking you for the best currency for GPU mining, you need to understand that Bitcoin or Ethereum mining is becoming a thing now and everyone wants a piece of the action. The meteoric growth has spurred a lot of people into action and now, the eventual decline is not enough to dissuade people. In fact, if you look at some of the best mining GPUs in 2017, you will notice a trend which many people adopted. You either go for the best or go home. 2018 won’t be an exception, let’s critically identify some of the best GPUs to mine.

Features of the best GPUs for mining in 2017

We shall first study some of the elements of the best GPU mining packages in the previous year. This will help us properly understand what informed their decision and how the mining was improved upon.

1. VRAM

Having two GB of graphics memory is no longer enough to load Ethereum network’s Directed Acyclic Graph (DAG). Ethereum, when it first emerged in 2015, started at one GB and the size increases at a rate of 750 MB yearly. We’re in 2018 now, this means that the best GPU for Ethereum mining should have a minimum of four GB of dedicated VRAM. If you insist on using two GB graphics card, the mining software will fail to work.

2. Hash rate or speed

This is one of the most important factors to consider before any other factor. This is the rate at which a graphics card can solve algorithms which make a block. The best GPU for mining in 2017 had very high hashrates, and this caused faster mining times and increased coin rewards. This hashrate is measured in hashes per second and for extremely powerful GPUs, Mega-hashes per second is used (MH/s). This implies that at least, a million hashes are being completed per second. We can also have Giga-hashes and Tera-hashes.

3. Bus width of the best Bitcoin mining GPU in 2017

The bus width is the factor which states the amount of memory chips which can be used on a card. As you know, the performance of a card is determined by its memory, so you need a higher bus width. For instance, a GPU with a 256-bit bus can only accommodate a minimum of eight memory chips and one chip will have a width of 32-bit. If you want something more, chips with a double memory capacity boast 16 memory chips. It is shared between the front side and back end of your card.

4. Power consumed by cryptocurrency GPU mining card

Have you ever considered what the best GPU for mining Ethereum will be? Let me give you a hint- the right card will consume less power. If you want to be assured of a steady inflow of cash, your miner should be running constantly. This can make your running cost become exorbitantly high, especially if your card is not energy efficient. The best GPU for Scrypt mining in 2017 prioritized power consumption- you should consider doing the same.

5. Cooling

After power consumption, the last thing you want is for your GPU to be constantly hot. Apart from the fact that it’ll make the whole environment unbearable, it will hinder the optimal working of your graphics card. Go for GPUs which have an open frame design which allows it to become cool, or get cards which are designed with a plethora of fans for cooling.

Now, let’s get to it. What are the best GPUs for mining Ethereum and Bitcoin in 2018?

5 Best GPUs For Mining

AMD Radeon RX 470

This machine is powerful and it executes its duties perfectly. The best thing about this machine is that even if the conditions are not optimal, this GPU will still perform excellently. It is power efficient, with the latest AAA graphics, and is also compact. When it was being built, compatibility with certain PC was checked and this accounts for the sturdy, compact form. It is almost noiseless and the heat produced is reduced too.

Pros of AMD Radeon RX 470

  • It offers full HD performance

  • The power efficiency is excellent

  • It offers adequate memory- the best for its price

Cons of AMD Radeon RX 470

  • It is quite expensive

AMD Radeon RX 480

When the HTC and Oculus Rift specs were released, this was one of the first graphics cards to grace the market. It has rapidly evolved from a gaming graphics card to one used for cryptocurrency mining. AMD used this card to migrate from the erstwhile Graphics Core Next 3 to Graphics Core Next 4 (Polaris). They increased the number of transistors without increasing the amount of power consumed. It also boasts a single fan which spins under load. Even though the noise is on the high side, it is totally bearable.

Pros of AMD Radeon RX 480

  • It offers a great overall performance

  • It works at high speed

Cons of AMD Radeon RX 480

  • It is quite noisy

AMD Radeon RX 580

It is classified as a mid-range card. i.e., it allows you to mine coins without hitches with a clock speed which is slightly above average (1340 MHz). This is an amazing GPU for mining Ethereum. It also has dual fans which work or stop according to the load being supported. One thing to note, though, is that the cards are not as compact as the previous 480 version.

Pros of AMD Radeon RX 580

  • It offers an amazing HD quality

  • It can be customized to your taste

  • It offers quality for its price

Cons of AMD Radeon RX 580

  • It consumes power

  • The cards are not as compact

AMD Radeon R9 Fury X

Every single element of this GPU is turbo-charged and optimized for speed, quality of performance, and power efficiency. Rather than an air-based system, they employ a water-cooling technology and it seems to work well for them. It also allows you to mine for as long as you want.

Pros of AMD Radeon R9 Fury X

  • Water-based cooling technology ensures that it works perfectly well

  • It has a memory capacity which allows optimal performance

Cons of AMD Radeon R9 Fury X

  • It can be difficult to cool with water

Nvidia GeForce GTX 1050 Ti

This is the best GPF for mining Ethereum. It is efficient, offered at a great price, and it works well with any system in need of increased computing and mining performance. The design is based on its Pascal GPU design and not only does it support cryptocurrency mining, it is great for VR gameplay. Before we forget, it has a clock speed of 1760 MHz.

Pros of Nvidia GeForce GTX 1050 Ti

  • It has a very quiet operation

  • It is energy efficient

  • It is able to execute virtually every mining operation

  • The performance is excellent in its price range

Cons of Nvidia GeForce GTX 1050 Ti

  • The compatibility with every PC is not assured

Comparison of GPU for mining cryptocurrency

S/N

GPU

Hashrate ZEC

hashrate ETC/ETC

Power Consumption

Efficiency ZCash (Sol/w)

Efficiency Ethash (MHS/W)

1

GTX 1050 Ti

155 Sol

13 MH/s

75 W

2.06

0.173

2

RX 580

475 Sol

28 MH/s

180 W

2.63

0.153

3

RX 480

300 Sol

29 MH/s

150 W

2.00

0.190

4

RX 470

250 Sol

24 MH/s

120 W

2.08

0.200

5

R9

385 Sol

17 MH/s

190 W

2.02

0.200

Conclusion

We have assiduously covered the best GPU for mining cryptocurrency. As regards the best cryptocurrency to mine with GPU, it is important to note that some currencies are easier to mine than others, however, we should always consider the return on investment. Mine cryptocurrencies which are more widely accepted.

Cryptotips
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Thomas Hughes

Blood in the Streets of Crypto City

Bitcoin is down more than 12% for the last 24 hours, reaching as low as $5,500 (and even lower on a few exchanges) at the time of writing
Blood in the Streets of Crypto City

The whole crypto market is sinking in value and dropping in volume and is being led by Bitcoin, which is down more than 12% for the last 24 hours, reaching as low as $5,500 (and even lower on a few exchanges) at the time of writing. The reasons for the drop can only be speculated, with some voices shouting “manipulation” as loud as they can.

It is unclear whether we are talking about manipulation or not, but 40% of the entire Bitcoin volume (short positions mainly) belongs to BitMex. This is huge, considering that the second exchange by volume — Bitfinex — is currently trading 3% of the entire Bitcoin volume. Weird? I would say so.

Charts at a Glance

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BTC/USD has broken the long-term low at $5,777 and reached lows last seen in late 2017. The move was not spurred by technical reasons and at this time it is not clear what exactly triggered it or when it will end. This could be the beginning of an extended drop towards $5,000 or a good opportunity to buy now. Either way, it is clear that Bitcoin and cryptos in general are riskier than usual under these circumstances.

Strictly from a technical point of view, the Relative Strength Index is deep in oversold territory and according to price action 101, a very strong move is followed by a period of stagnation or even a bounce higher once a bottom is established. However, we don’t know if the current price is a temporary bottom or if the drop will extend further.

Support zone: 5000 as a psychological level

Resistance zone: 5777 - 5800

Most likely scenario: bounce higher after a temporary bottom is formed, followed by another drop

Alternate scenario: extended move into 5000

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📈 Pricewise Daniel Osten

Illusion of Stability: Bitcoin Price Settles at $9,000, But Change is Coming Soon

Pricewise
Another uncertain day on the market- Bitcoin can’t seem to decide which way to go
Illusion of Stability: Bitcoin Price Settles at $9,000, But Change is Coming Soon

By the beginning of Wednesday, the volatility in the cryptocurrency market decreased significantly, but the mood remains very tense, the opposing parties took a small respite right at the height of battle. You can call it the calm before the storm, temporary lull in volatility but the cryptocurrency market battle is now at a standstill.

So far, neither the bulls nor the bears have been able to turn the situation in their favor, but some trends are emerging and we are excited to tell you about them!

At the time of writing, the market is in the midst of a lateral movement or, put another way, a flat market. When we say “market,” we primarily mean Bitcoin, of course, since the correlation between its price and the price of other coins is as strong as ever.

Altcoins may show more dramatic values of growth and decline, but the general direction of their movement continues to follow Bitcoin.

NEM remains victorious as other altcoins freeze

Total market capitalization practically hasn’t changed since yesterday and is now at $375 bln, Bitcoin price is at the level of $9,100, and dominance shows miraculous stability- 41.8 percent for almost two weeks running.

In the top 10 assets, unity and peace reign- prices remained nearly unchanged overnight. Their fluctuation ranges from zero to two percent for an overwhelming majority of the assets. The only troublemaker is NEM, continuing its victory procession and growing by another 16 percent.

Furthermore, in the past 24 hours, NEM jumped four positions in the rankings and moved from 13th to 9th place. You don’t see that every day! We spoke in detail about the causes for such growth and the price targets in yesterday’s review.

BTC/USD

The tasks that we defined for the bulls and the bears yesterday have not been carried out, so the price of the main asset has not changed, although it did not remain entirely motionless in the course of trading. Bitcoin is still bound within the familiar $1,000-wide channel.

At the moment, the advantage is with the bulls, and here’s why. First of all, the bears failed to bring the price down to the lower boundary of the channel- despite determined attempts, at the most decisive moments a mysterious buyer would appear to support the asset with good purchase volumes. Second, selling volumes are falling, while purchase volumes remain steady.

Illusion of Stability: Bitcoin Price Settles at $9,000, But Change is Coming Soon

And third, the hour timeframe clearly shows the technical analysis figure of the "triangle" which can be both bullish and bearish, but in our case, prices did go up after all, showing the strength of the buyers.

The listed facts don’t necessarily indicate a certain victory for the bulls. Bears can enter the game at any moment to try another attack for breaking the trend. Their goal remains the same-  the boundary of the channel and the level $8,700.

For bulls, today’s task is more ambitious- to find a foothold above the resistance level $9,400, preferably above the 0.382 Fibonacci retracement which coincides with $9,550.

Taking into account all of the circumstances, we estimate the odds to be three to two in favor of the bulls. Be cautious, observant and remember- there is no place for hopes and emotions in the market. Only a sober assessment of the situation and thorough analysis can lead to profits.

ETH/USD

The second asset by market capitalization is still moving within the global downward channel, which seems impossible to break for three months now. The last Bitcoin correction forced Ethereum to fall to the lower register of this channel.

Investors shouldn’t lose their composure. However, we are far from the February minimum, and the price found a new support in the region of $640 (we wrote about this level on March 7).

Illusion of Stability: Bitcoin Price Settles at $9,000, But Change is Coming Soon

The volume profile data suggests that the maximum volume since the beginning of December was traded in the current range. This means that Ethereum reached its fair price.

We would like to reassure our readers- the concept of “fair price” doesn’t mean that from the point of view of technical analysis the asset should cost exactly this amount. It just indicates that the interest of market players is focused on these values. For Ethereum, this level can become a good basis for further growth.

In terms of targets (in case of a market reversal), they are $730, $750 and $780- all coinciding with key values ​​of the Fibonacci grid and mirror levels. With continued lateral movement, and in the event of a slight decrease in Bitcoin price, the triangle marked in green becomes relevant.

The best strategy in the current uncertain environment is to wait. This concerns both those readers who have decreased long positions at the price we recommended ($770), and those who are still holding Ethereum for the long term.

📈 Pricewise
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Crypto Gags Heewon Jang

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