Cryptotips George Shnurenko

Five Best Ethereum Mining Rigs For 2018

💡 Cryptotips
If you want to start mining ETH, a usual PC won’t be enough– find the best rig for Ethereum mining
Five Best Ethereum Mining Rigs For 2018

Just like any altcoin, Ethereum is becoming harder and harder to mine– now you can’t get the precious coins by simply running software on your smartphone or laptop. If you want to play big, you need the best mining rig– Ethereum cannot be obtained otherwise. To help you make an informed decision, we’ve prepared an instruction on how to build best Ethereum mining rig, and the list of best hardware solutions.

Let’s start with reviews of the best five GPUs.

1.AMD Radeon RX Vega 64 

Although it appeared on the shelves recently, many users claim it’s a suitable solution the best rig for mining Ethereum. You can mine Ethereum 33 MH/s consuming about 200 watts, and the hash rate can reach 41 MH/s while you’re using 135 watts only. You can upgrade your mining rig with 4-6 GPUs like that and become a real monster of mining!

2.Nvidia GTX 1070  

The vast majority of GPUs consume at least 110-180 watts, but if you need the best budget Ethereum mining rig, select Nvidia GTX 1070– it can save a lot of electricity. This device can reach the hash rate of 30Mh/s requiring only 100 watts. It’s way more powerful that the vast majority of AMD solutions present on the market today.

3.Radeon R9 295X2

To outperform competitors and create the best mining rig for Ethereum, you need a truly powerful GPU. This is what Radeon R9 295X2 is about: it gives you the highest hash rate of 46 MH/sec and the total return per year will be about $580– that covers the market price of $600 almost fully. Although Radeon R9 295X2 is pretty expensive, it’s the best hardware for mining Ethereum, and your investments will be compensated with the time being.

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4.Radeon R9 HD 7990

It used to be among solutions for the best Ethereum mining rig 2017, but now it’s a bit overpriced. Radeon R9 HD 7990 will cost you $680 and provide you with a hash rate of 36 MH/s– not the best quality/price ratio, isn’t it? However, if you simply need a reliable and long-lasting GPU, you can go with Radeon R9 HD 7990.

5.Radeon RX 480

A non-expensive and best hardware for Ethereum mining? Yes, such options still exist. Try Radeon RX 480– it’s the most economical solution from the point of energy saving. Although it has a hash rate of 25 MH/s, you can combine six GPUs for excellent efficiency and forget about unbearably high electricity bills.

Bonus: Gigabyte GeForce GTX 1070

If we were to name six best Ethereum mining rig solutions, we would include Gigabyte GeForce GTX 1070 in this list. With an average power consumption of 225 watts, it reaches a very high hashrate without heating up seriously. To make best Ethereum mining rig, build a system of three to six such GPUs, and you’ll enjoy a successful mining– even without optimization, this card does its best.

Comparison table

To create a cost-efficient Ethereum mining rig, build best value hardware components together. With this comparison table, you’ll be able to figure out what’s the best Ethereum mining hardware for you.

GPU

Hash Rate

Power Consumption

Radeon RX Vega 56

31 MH/s

190 watts

Radeon Rx 480

24 MH/s

170 watts

Radeon Rx 570

22 MH/s

125 watts

Geforce GTX 1060

20 MH/s

110 watts

Radeon Rx 580

25 MH/s

175 watts

Geforce GTX 1070

27 MH/s

200 watts

Radeon Rx 470

21 MH/s

120 watts

Radeon R9 290x

28 MH/s

280 watts

What else?

Those who strive to create the best Ethereum mining rig should combine the best hardware components. As soon as you get a frame for the rig (you can get the best six GPU mining rig case for Ethereum on forums– there are lots of great handmade frames tailored to that), you need to buy the following:

  • Don’t spare money on RAM, if you want the best Ethereum mining rig– get at least 8GB.

  • Motherboard with as many PCIe inputs as you need.

  • Riser cable for every GPU.

  • Power supply (the capacity should be calculated according to GPUs you select).

  • Fans for cooling.

  • Internet connection cables.

Fixing it all together isn’t as hard as building the best Ethereum mining 100 GPU rig– it’s not a farm. You just need to fix the motherboard and GPUs with riser cables first, then connect power and install fans. Don’t forget that you’ll need a computer to set the things up. With the best hardware mining, Ethereum becomes a simple and problem-free task.

Final thoughts

Building the best mining rig for Ethereum 2018 has become a bit harder than in the previous year– the requirements are harsher, and getting the coins is a more challenging task. However, if you find optimal hardware and optimize it for better performance, your investments will certainly pay off.

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A Case for Reddit, Billy Milligan, Facebook, Gmail, and Cryptocurrency

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Evolution of communities puts self-governance on top
A Case for Reddit, Billy Milligan, Facebook, Gmail, and Cryptocurrency

Reddit

Back in 2005, Alexis Ohanian and Steve Huffman — two undergraduate students of the University of Virginia and dormmates — had an idea for a food ordering app that they pitched to a computer scientist and entrepreneur Paul Graham. Paul Graham liked the idea and told Alexis and Steve to pitch it to Y Combinator — a startup accelerator that Paul co-founded that same year and that’s one of the most successful today.

The pitch didn’t go well with the Y Combinator investors and was rejected, but they liked Alexis and Steve as a team and told them to come up with something else. The two undergrads quickly came up with the idea of Reddit that Paul Graham immediately called “the front page of the web.” Reddit was given funding, developed in a very short period of time, and went online in June 2005.

At first, the new social network was very barebones with very few users, and to create the effect of a crowded house so that it would show some activity on the website, Alexis and Steve started registering fake users and submitting news and links worth of attention through different names. This way of attracting new users can be crudely called the Billy Milligan effect. Alexis and Steve had to pretend they were a number of different people who used the website until they reached a critical mass when Reddit would be able to function on its own.

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Facebook

A year before Reddit, Mark Zuckerberg launched a universal student directory at Harvard called TheFacebook. The directory was a centralized place to keep all student photos and basic student information. TheFacebook, unlike Reddit, was launched to an existing userbase — Harvard students — and within the first month more than half of the undergraduates registered on Facebook. Facebook was initially restricted to Harvard.

Gmail

Gmail was launched in 2004, but due to the limited infrastructure to support the users, Google decided to make Gmail invitation-only and limited the invitations to 1,000 opinion leaders and their friends and family members.

Gmail invitations, due to the closed nature of the service, became highly demanded and a market was quickly formed around them. Regular invitations were selling on eBay for $150 with some accounts soaring to as high as several thousand dollars.

As Georges Harik, product management director for Gmail at the time, puts it: “The limited rollout had been born of necessity, but it had a side effect. Everyone wanted it even more. It was hailed as one of the best marketing decisions in tech history, but it was a little bit unintentional.”

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Blockchain

Reddit, Facebook, and Gmail happened well over a decade ago, and the Blockchain technology and interest have advanced and spread in the meantime. Getting early in a product, project, or a service poised for success is always an advantage, be it a cool name on Gmail, the account age on Reddit, or making use of Facebook monetization.

With Blockchain and cryptocurrency, as the latest years show, getting in early is a solid advantage, and due to the decentralized nature of the technology, this can be a life-changing experience. It is to many.

To quote Michael del Castillo of Forbes:

“By giving early adopters of a budding social network like Steemit access to a token that potentially appreciates in value and gives them access to the service, developers could create an incentive to join long before the actual network effects are competitive with established centralized social networks like Facebook and Twitter.”

Community support through getting coins of a new service shortens the period necessary to reach the critical mass to not only keep the network going but letting it truly flourish on its own. With Blockchain and crypto, no longer does a project need to play Billy Milligan or simulate an elitist characteristic of an invitation-only service.

The service has to be good though, and decentralization allows it to be self-governed and ready for the community embrace, for the Blockchain protocol and algorithm are transparent and independent — the complete opposite of being centralized. You can’t pull a Billy Milligan on it or switch it to a doors-shut exclusive place. The protocol and the decentralized nature of Blockchain make it completely community-owned.

But again, the service has to be good.

The U°Community platform is not yet another social network on Blockchain just because of Blockchain. It’s an integral part of Blockchain and an interface to it.

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Bitcoin, Ethereum, Ripple, EOS, NEM Test Their Local Lows: Price Analysis, June 29

Pricewise
Bitcoin and altcoins reached local lows, but still unable to break them
Bitcoin, Ethereum, Ripple, EOS, NEM Test Their Local Lows: Price Analysis, June 29

The situation has changed slightly as cryptocurrencies from the top 20 declined on Friday and some of them test their local lows. However, in general, we can say that nothing has changed as cryptos still fail to establish new dips.

As for interesting news, the crypto community continues to discuss the situation around Facebook. Earlier in 2018, the famous and one of the most popular social media has banned all ads related to cryptocurrencies. However, this week they have changed their mind and weakened the restrictions, but ICOs are still banned.

Another interesting news comes from Foley & Lardner, a law company that has conducted a survey among different member of the crypto industry. They have revealed that community wants more and better regulation for digital assets. Around 84 percent of respondents think that ICO should under regulation. A huge amount of people interviewed want trading operations to be regulated as well.

Bitcoin (BTC/USD) Price analysis, June 29

BTC/USD Hourly General

Bitcoin has lost almost four percent in the past 24 hours, but in general, the situation is neutral as BTC price has not established new lows, bears seem unable to make it as bulls do not let them push the currency pair lower.

BTC/USD Hourly Closer

When we zoom in the hourly chart we can see that BTC/USD has broken through the support area at $6,071 on Friday and is testing the last retracement level 4.236. If bears are successful, they will be able to reach the next support at $5,715. The possible ways for BTC/USD are the following:

  1. Red scenario (bearish). The currency pair will confirm the breakout of 4.236 and move lower targeting the next support at $5,715.
  2. Orange scenario (neutral). Bitcoin will stay within the range and fail its support area testing. BTC price will fluctuate within the support at 4.236 and the resistance at $6,071. We think that this scenario is most likely than the others for Friday.
  3. Green scenario (bullish). The currency pair will jump over the resistance at $6,071 and move higher targeting the next resistance at $6,329.

Ethereum (ETH/USD) Price analysis, June 29

ETH/USD Hourly General

Ethereum has lost more than three percent in the past 24 hours. The currency pair is testing its local lows in the moment of writing, wave after wave, bears are trying to push it lower. ETH/USD still neutral, but once the lows are broken, the currency pair will be able to develop its downside progress.

ETH/USD Hourly Closer

When we zoom in the hourly chart we can see that ETH/USD is testing the support area at $417.28. The currency pair has broken through the support area at $431.42 on Friday and stays close to the next support in the moment of writing. The possible scenarios for ETH/USD are the following:

  1. Red scenario (bearish). The currency pair will jump over the support area at $417.28 and develop its downside momentum towards the next support at $404.55.
  2. Orange scenario (neutral). Ethereum will stay within the current range on Friday limited by the support area at $417.28 and the resistance at $431.42. We think that this is the most probable one for Friday.
  3. Green scenario (bullish). ETH/USD will jump over the resistance area at $431.42 and move higher towards the next resistance at $453.24.

Ripple (XRP/USD) Price analysis, June 29

XRP/USD Hourly General

Ripple has lost more than four percent in the past 24 hours, but the currency pair remains neutral as it failed to establish new lows on Friday. The currency pair is above the descending trend line, but is still unable to move higher.

XRP/USD Hourly Closer

When we look closer at the hourly chart we can see that Ripple has tested the resistance area at $0.4744, but failed to jump over it and retreated later. Ripple has reached the support area at $0.4495 on Friday and is currently testing it. The possible ways for XRP/USD are the following:

  1. Red scenario (bearish). Ripple will break through the support are at $0.4495 and develop its downside progress towards the next support at $0.4232.
  2. Orange scenario (neutral). XRP/USD will stay above $0.4495 and fluctuate there, between this support and the resistance at $0.4744. We think that this scenario is the most likely for Friday.
  3. Green scenario (bullish). Ripple will cross the resistance are at $0.4744 and move higher targeting the next resistance at $0.4918.

EOS (EOS/USD) Price analysis, June 29

EOS/USD Hourly General

EOS has lost more than five percent in the past 24 hours, but in general, there is no change in the current situation is the price failed to establish new lows. The price is above the descending trend line, but bulls are unable to drive it higher.

EOS/USD Hourly Closer

Let’s have a closer look at the situation on the hourly chart. EOS price has tested the resistance area at $8.29, but retreated from there and jumped over the support area at $7.65. EOS/USD is currently below the level. The possible ways for EOS/USD are the following:

  1. Red scenario (bearish). The currency pair will break through the support area at $7.10 and move lower targeting the next support at $6.65.
  2. Orange scenario (neutral). EOS will stay within the range. The price will be limited by the support at $7.10 and the resistance at $7.65. We think that this scenario is the most probable for Friday.
  3. Green scenario (bullish). The currency pair will break through the resistance area at $7.65 and move higher targeting the next resistance area at $8.29.

NEM (XEM/USD) Price analysis, June 29

XEM/USD Hourly General

NEM has lost almost four percent in the past 24 hours. The currency pair remains neutral in general as the local lows still hold the price. XEM/USD is above the descending trend line, but buyers are unable to change the situation in their favor.

XEM/USD Hourly Close

Looking closer at the hourly chart we can see that the price has followed the red scenario on Thursday and Friday. After testing the resistance at $0.1539, NEM retreated and reached the support at $0.1459. The possible scenarios for XEM/USD are the following:

  1. Red scenario (bearish). The currency pair will break through the support area at $0.1459 targeting new lows.
  2. Orange scenario (neutral). NEM is going to stay within the current range between the support at $0.1459 and the resistance at $0.1539.
  3. Green scenario (bullish). The currency pair will break through the resistance at $0.1539 targeting the next resistance at $0.1682.

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xrp test
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What is Trading and Cryptocurrency Trading, Their Main Features

💡 Cryptotips
Crypto trading and its features, the difference between trading and investing, trading tips
 What is Trading and Cryptocurrency Trading, Their Main Features

Trading is an operation where one party buys something from the other party in exchange of money. We do trading in our everyday life when we purchase foodstuff, clothes or even services.

This concept is also used for the financial markets where traders and investors buy and sell several types of assets and derivatives. Market participants purchase stocks i.e. for lower price and wait until their cost rises to sell them. The more the price rises from the purchase level, the more profit you can get.

This is how it works in general. Nowadays almost everybody can open an account with a special company, named broker (or find a cryptocurrency exchange) and start trading. Blockchain innovations allowed users to start speculations on their own (without any intermediate) as traders are able to enter special exchanges and to place orders to gain money on the price difference.

We are going to cover such subjects as history, basics, principles, examples, pros and cons of trading in this introducing article.

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History of trading

History of trading

First exchanges were established in Europe in XVI century. Their main goal was to provide merchants with marketplaces and the governments with the opportunity to place bonds. Trading with stocks and shares developed later as the response to growing commercial needs and companies’ expansion.

Such notion as “trader” appeared first with the establishment of London Stock Exchange in the end of the XVII century.

Meanwhile, stock trading appeared in Asia one century later. Rice exchange in Japan started to operate in XVII century. This period and geographical location are both interesting for traders as Japan is the home country for Munehisa Homma, who developed his famous Japanese candlestick method, allowing speculators to both read the price properly and to forecast future fluctuations.

Currency markets are younger. Forex appeared after the fall of the Bretton Woods system as European countries refused to support gold standard (a system, where currencies were linked directly to gold). Cryptocurrency trading emerged in early 2010s when first exchanges started their activities.

Small retail traders and investors were enabled to start trading in the end of 1980s with the appearance of margin trading. In the early 1980s some British dealing companies began to offer services to those individuals who had lower capitals. In 1986, most central banks accepted this trading mechanism and allowed almost unlimited opportunities for people to speculate and to invest in different types of financial assets.

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What is the difference between trading and investing?

What is the difference between trading and investing?

There is a big difference between those two notions. The main task of investors is to gain profits gradually, by purchasing and holding assets until their price growths. They also buy stock to get dividends.

Trading, on the other hand, involves more frequent buying and selling of assets as speculators aim to generate returns from the price difference.

There is one more thing to pay attention to. Investors have less performance than traders. The first group may be content with 10 percent of annual profit when the second group may have about 10 percent monthly.

Nowadays this line between traders and investors is almost invisible especially within the cryptocurrency industry. Investors there are long-term (or position) traders while traders are speculators holding their positions for hours or days.

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Trading basics– supply and demand

The main idea of trading is to find an underrated asset, buy it and hold until its price rise in order to sell it later. It sounds obvious but here lies the main principle of trading. How do traders and investors know, when to purchase a currency pair or a stock and when to get rid of it?

There is a so-called supply and demand law. It explains the interaction between the supply of an asset and a demand for it. When those two aspects are misbalanced, the price goes upper or lower, depending on what is higher.

The cost of an asset will go upwards when demand grows. It means that more market participants want to buy it. And vice versa, when demand is weakening and supply becomes stronger, the price is likely to fall.

Let us give a simple example. Let’s say, a retailer has 10 apples to sell. There is only one buyer for them, who is ready to purchase apples for $5 per kilo. Will the buyer try to raise their cost? Definitely not as the demand is limited to one customer only.

Let’s make it a bit more difficult. We have 10 apple sellers and only four potential customers. The demand is lower than the supply in this case. Sellers will be forced to reduce prices as they have to literally fight for each customer. Those who hold their price at the initial level, have less chances to sell their apples than those who are ready to lower their costs.

However, in a couple of hours the situation has changed as new customers came to the market and the ratio is currently the following: 20 customers/10 seller. There is lack of apples and retailers can increase the price. Supply is lower than demand in this situation.

Main factors, influencing supply:

  1. Production capacity.
  2. Production costs.
  3. The number of competitors.

Main factors

Factors, affecting demand:

  1. The number of substitutes.
  2. The cost of goods and services.
  3. Advertising.
  4. Price changes for complementary products.

How does supply and demand work on financial markets?

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Let’s have a look at the chart. We have drawn an ascending line which demonstrates how the balance between supply and demand changes. In the starting point of this redline, we have higher demand and lower supply.

Then the price goes upwards along the red line and both demand and supply become balanced. At some point, demand becomes lower and supply is higher. When this happens, the price reverses and starts to decline. This is how it works for financial markets.

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Three main trading principles

There are several principles for traders to follow in order to succeed. We are going to mention three main aspects that are necessary for every successful currency and stocks speculators.

Buy lows and sell highs

This principle is based mainly on the cyclic nature of market fluctuations. If you look at any asset’s chart (including cryptocurrencies), you will see that their price has periods of decline and growth. If a currency is cheap currently, it is likely to increase its price in future and vice versa, if a currency is expensive at any moment, the price is likely to decline.

This aspect is very important for every trader as those who know where to buy and to sell are more successful than those, who place orders randomly. Traders who stick to this principle of trading, have higher chances to win.

This may sound obvious, but many beginners buy highs and sell lows as they have no idea how to find entry points properly. Those traders suffer losses and then start to learn something about trading. Those who pay significant attention to theory, have chances to become skilled investors.

Follow the market

This recommendation means a speculator has to always look for tendencies and follow them. If there is an uptrend, a trader is better to purchase an asset. In cases when the price goes downwards, investors are advised to get rid of it.

There is a proverb “Trend is your friend” meaning those who have found a tendency, have better chances to take profits. Trading against the trend is also possible, but these strategies are complicated and require more skills and experience.

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Manage risks properly

Manage risks properly

The main reason for managing risks is the random result of every single trade. There is no a single strategy guarantying trader positive results in every position. Risks accompany investors during their market operations. Moreover, no one is able to reduce risks to zero level. However, traders who manage them properly may minimize them.

What does it mean “to manage risks”? This includes calculations of eventual profits and losses that a trader can take and afford. Many cryptocurrency exchanges offer to their clients several tools to manage their risks by placing stop losses and even take profits.

Let us give you a clear example of the importance of risk management. A trader has bought one bitcoin for $9,000. The price declined to $6,000 and he decides to sell it. Trader’s losses were $3,000. Another trader has bought Bitcoin for $9,000 and placed a stop loss at $8,500. The price declined to $6,000, but this time stop losses triggered when the price reached $8,500. Trader’s losses were $500 only.

This is a simple but clear example of importance of proper risk management. There are several methods how to do it and we are going to demonstrate them in our following articles.

Examples of trading

Here we are going to demonstrate you chart example of trading.

trading

This example is about long position. It means a trader thinks that the price of XRP/USD is at its lows and the situation looks promising for buyers. What is the best decision here? Naturally, to follow the market. It means to purchase XMR/USD somewhere here. Let’s suppose this trader buys the currency pair at 0.5067. He holds his positions until the price reaches the second point and sells XMR/USD when the price reaches 0.7078.

The profit is 0.2011 pips (the smallest price change unit on financial markets). To make it easier to understand, if a trader has bought 100 Ripple coins at 0.5067, he would have an opportunity to earn $200. For each XMR, trader gains 20 cents of profit.

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Looks pretty easy, but this is just an example. When traders look at price history, they always know where to purchase or to get rid of an asset. However, when they start real trading, it is not so easy to forecast future fluctuations. Professionals use different analysis methods to predict quotes. We are going to cover all of them in our following articles.

Pros and Cons of trading

The main advantages of this activity are:

  1. This profession is always in demand. Successful traders may earn money on their own or to become a part of cryptocurrency hedge funds, for example. The amount of those financial institutions increase every year meaning skilled traders have more opportunities to find a well-paid job.
  2. Trading offers an opportunity to start a business for yourself. There are no bosses, no orders, no tasks, no salary (except when you are working for a hedge fund or a bank, i.e.). You take all your profits (paying commission and other costs).
  3. This is an intellectual profession. Everything depends on how trader controls himself, manages risks, reads the market situation. Professional traders see their accounts grow.
  4. Unlimited profits. When a person goes to a part or a full-time job, he has a fixed salary (or percent from company’s earnings, which is usually low). Those who trade, have opportunity to gain more in case they are right. Those who had 100 BTC in 2009-2015, for example, became millionaires as the price reached $20,000 level and then declined towards $8,000-$9,000 in 2017-2018.
  5. Trading gives new knowledge and skills.
  6. No need to go to  the office. Traders can place orders from everywhere if there is Internet connection there. Speculators use PCs, notebooks, mobile devices as a modern trading terminal are cross-platform.
  7. Low entrance requirements. Many brokers as well as cryptocurrency exchanges have no minimum deposit level. This means almost everybody can try trading.

As for the disadvantages, they are the following:

  1. Risks. They accompany every market position. Trader risks to lose a part of his investments or all money he deposits.
  2. High responsibility. Trading is not for lazy people. A speculator always has to be on guard, look for information, learn new tactics and strategies, analysis methods and so on.
  3. Trading is stressful. Speculators have to monitor their mind and physical health. Trading is a stress and you need to learn how to decrease it.

Cryptocurrency trading features

Cryptocurrency trading is similar to other industries like Forex or stocks. Here are some features of this kind of investing:

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  1. There are no brokers or dealers. Crypto traders go to special online exchanges where they can buy and sell coins.
  2. Cryptocurrency trading is available 24/7 as compared to Forex and stocks.
  3. The liquidity is lower. This leads to higher volatility and gaps.
  4. Lower volumes especially for exotic coins. This may result in pump & dump strategies.
  5. There are no tools like economic calendar or companies’ reports meaning the fundamental analysis of cryptos is harder to conduct.
  6. Hard to establish correlation between the coins. Forex and stocks traders always use correlation to predict prices and to hedge their risks. Correlation means different assets move into the same direction. In crypto market it is impossible to find correlations as there is no connection between different coins.
  7. There are no liquidity providers. When you trade on Forex, you deal with the liquidity providers – huge banks and market makers. In cryptocurrency industry, all trades are executed within exchange.

Conclusion

Trading offers many opportunities to investors and speculators. However, this is not just a simple road with no obstacles. In order to afford it, you need to learn, get experience and appropriate skills.

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Monero Price Prediction 2018\20\25: How Much Will XMR Cost?

💡 Cryptotips
How much will Monero coin cost in 2018/20/25?
Monero Price Prediction 2018\20\25: How Much Will XMR Cost?

As major cryptocurrencies like Bitcoin and Ethereum are continually growing in popularity, other minor altcoins follow their suite. Being enlisted in the top 20 world cryptocurrencies, Monero is now considered to be a good investment. But what makes it so attractive for traders and investors? It’s time to reveal key advantages of this coin and read Monero price prediction for the short and long terms.

Let’s start with the explanation of Monero’s origin and nature.

What is Monero?

In July 2012, the world witnessed the implementation of CryptoNote application layer protocol that was designed to work with different decentralized currencies. Although it is similar to the application layer used for Bitcoin, there are some principal differences, as well. Initially, Bytecoin was the first implementation of CryptoNote layer, but since about 80 percent of coins have already been published, it was decided to make a fork for a new chain and new coins. This chain was called ‘Bitmonero,’ and eventually turned into ‘Monero.’ In this chain, a new block is mined and added every two minutes.

benefits

Advantages of Monero

The fundamental principles of this cryptocurrency are total privacy and transparency. When creating Monero, the team was striving to make a fully decentralized and private electronic currency. Therefore, Monero has five important merits:

  1. 100% privacy. Only you can manage your XMR coins and see the details of transactions.

  2. Great fungibility, which means the asset can be easily exchanged for goods or other assets.

  3. Dynamic scalability. While Bitcoin has imposed a one Mb block size limit on users, Monero has no pre-set size limits but reduced the amount of reward depending on the block size. Blocks lighter than 60 Kb are free from reward penalties.

  4. Resistance to ASIC (Application Specific Integrated Circuit).

  5. It uses multiple private and public keys for a higher security level.

Monero vs other currencies

Before we proceed to Monero prediction, let’s underline the basic differences between XMR and other coins:

Monero

Bitcoin

Ethereum

Total supply– 18.4 mln XMR + 0.3 XMR/minute

21 mln BTC

72 mln ETH

Proof-of-work protocol

Proof-of-work protocol

Proof-of-work protocol (will be changed to proof-of-stake)

CryptoNote algorithm

SHA-256 algorithm

Ethash algorithm

Block time– 120 seconds

Block time– 10 minutes

Block time– 15-45 seconds

Monero price prediction 2017

Just like it happened with many other top 20 cryptocurrencies, Monero caught the wave of popularity and Monero crypto prediction was not justified– it was outperformed. At the beginning of 2017, the currency was worth $15 and started growing in Spring 2017. People thought it would reach $35-40 by Autumn, and gain maximum $100 by the end of the year.

Surprisingly, XMR crawled to $41 in July 2017 and soared in price by December. It reached the maximum price of $431 on Dec. 12 2017, and fells as quickly as it rose during the following month. Therefore, Monero prediction 2017 was not as optimistic as things turned out to be– no one could predict the global crypto price explosion.

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Monero price prediction 2018

At the beginning of the year, Monero 2018 prediction was more optimistic: investors hoped it to at least stay at the level of $200-300. However, Monero shared its lot with other altcoins and nosedived to $140-150 with eventual price fluctuations in Spring. Another unexpected turn we couldn’t foresee.

What about the second half of the year? Monero prediction 2018 is contradictory. The rumor goes that investors can contribute to artificial deflation to increase momentum and push the price down to around $120 in the following months.

At the same time, if Monero doesn’t become a victim of speculators, the rising demand for it will make XMR price soar to $350-400 by the end of the year. The same Monero 2018 price prediction is provided by some experts.

What about technical analysis? Monero price prediction in 2018 varies from source to source. While longforecast.com predicts it to fall to $107 within the next month, WalletInvestor.com displays it can grow to $300 within a year (which means it can reach about $200 by the end of 2018).

Monero price prediction 2020

The further, the better: when it comes to long-term forecasts, the vast majority of online predictors agree with one another. Providing information from different sources, WalletInvestor gives us the following numbers:

  • Google - $637

  • PayPal - $419

  • Smartphone analysis - $319

  • Internet users - $612

  • Data increase - $279

All that means that Monero coin price prediction may be different, but the vast majority of Internet users stake on its growth. Even longforecast.com displays that XMR can grow from $150 to $30 during 2020.

Monero in 2025– your chance to compensate investments?

Want to make a long-term investment? Think twice before choosing Monero for that. Although websites show appealing prices as $1,500, $6,000, and even higher, you need to take the real value of coin into consideration. Is Monero technologically more advanced than Bitcoin and Ethereum? Yes, but slightly. Although the Internet community is concerned about security and privacy of transactions, Monero isn’t the only platform that offers it– it can be easily outperformed by competitors if the team will not introduce new unique features.

What the forecast depends on?

When it comes to Monero difficulty of prediction is conditioned by the fact that investors’ actions are hard to foresee, and the number of competitors offering some unique and cool features is also growing. Among the benefits that contribute to Monero popularization are the following:

  • It ensures unbeatable privacy.

  • Transactions cannot be linked or traced.

  • There’s no block limit, and XMR is dynamically scalable.

  • When all XMR is mined, there will be extra coins to incentivize the miners.

  • There’s a strong team behind Monero.

At the same time, some people don’t rush to make too optimistic price prediction for Monero because it doesn’t have enough wallet compatibility yet, not beginner-friendly, and the amount of encryption involved is too huge. Time will show whether Monero can live up to our expectations.

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Darryn Pollock

Blockchain and Cryptocurrencies to Blow Up Off the Backs of Students

Bitcoin may be getting lambasted by older institutional investors, but it is proving a hit with tomorrow’s leaders
Blockchain and Cryptocurrencies to Blow Up Off the Backs of Students

Looking at the Blockchain and cryptocurrency space at the moment, it would be easy to say that it is still nascent and looking to come into its own. It is generally being investigated and offering much promise, but also being criticised by those who are happy with the way things are.

However, a little look into the possibility of its potential, and things become clearer. If there was an analogy for the ecosystem as it stands now, one could say it is merely a student on the cusp of graduating into the big bad world, which is especially apt as students will be the ones to help it graduate.

Bitcoin and cryptocurrencies have always been seen as the playthings of millennials, but as the space grows and matures, so do those who are pushing for its adoption. Unsurprisingly, it is students who are bigger into the space than others, but it could also be because of the opportunities they are afforded at university.

A new technology to learn

Research from Coinbase, the US’s biggest cryptocurrency exchange, has shown that 42 percent of the world’s top 50 universities now offer at least one course on crypto or Blockchain. Additionally, students from a range of majors are interested in crypto and Blockchain courses ,  and universities are adding courses across a variety of departments

The potential of Blockchain has been noticed in a variety of different sectors, from finance to politics, technology and economics, and thus, it is unsurprising that this new ecosystem is attracting students to learn more about it.

It is felt that Blockchain is on the cusp of a revolution that will sweep the globe in all areas, but it is a symbiotic relationship. In order for that to happen, it needs to be pushed by a new wave of Blockchain experts, and thus, a new wave is being built in the universities with such courses.

But, another thing that the Coinbase research showed was that it is students and younger people of the age of students that are more likely to be vested in the owning and using of cryptocurrencies.

US students are twice as likely as the country’s average to own cryptocurrency, the research concluded.

A modern alternative

The millennial generation which is finding its way into universities and higher education has always been one that does not accept the status quo easily. They are a disruptive generation and thus it makes sense that they are the biggest proponents of things like Bitcoin because of its disruptive powers.

Cryptocurrencies and Blockchain offer millennials a new way in which to approach many different factors of society which they may find as unsuitable. And thus the interest is born, and taken further, in the study and adoption of Blockchain.

Changing the mindset

Bitcoin and the likes have met the most resistance from those who have made their money and vested their lives in the traditional model, especially of investing and banking. The likes of Jamie Dimon and Warren Buffet are well-known anti-coiners.

These men are however reaching the end of their tenure at the top of finance, and while the future is uncertain, it is obvious that the next financial leaders will not be in the same mold.

The grassroots of Blockchain and Bitcoin are laid, and the one that will grow the space are in place. The future is uncertain, but the path to a new future is clearly going to come off the backs of a student population.

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