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An Alternative to Bitcoin

We all know that Bitcoin is the king of digital currencies, and there doesn’t seem to be any other coin that can dethrone it from the top.

Although not similar, many digital currencies can still be used as a perfect alternative to Bitcoin. Some even claim to be technically superior to Bitcoin. Whether it’s true or not is completely another debate. In this article, we have discussed the top five digital currencies that are closest to what Bitcoin offers and can be used as an alternative to the king of cryptocurrency.

Top Alternatives to Bitcoin – Ethereum:

Bitcoin vs Ethereum is the closest battle when it comes to currencies trying to overtake Bitcoin.

Ethereum is a public blockchain software which promises to offer much more than just digital currency. The developers can code the software and power it through the public blockchain.

The users can then sell their processing power and get paid in “ether” – the second largest cryptocurrency by market capitalization after Bitcoin.

Ethereum has a market cap of $1bn USD.

Ripple:

Emerged in 2012, Ripple has become one of the most popular digital currencies to make online transactions anonymously. The paramount aspect of ripple is that it offers instant conversion into several other currencies.

Ripple considers itself a companion of Bitcoin and converts Bitcoin to Ripple and vice versa.

The market cap of ripple is $220m USD, making it the third largest cryptocurrency in the world.

Litecoin:

Litecoin emerged in 2011 and is one of the oldest cryptocurrencies out there. Given below are some highlights of Litecoin:

  • Similar to Bitcoin, Litecoin is decentralized.
  • Litecoin is also generated through solving algorithms, which become more and more difficult over time.
  • A Litecoin block takes just 2.5 minutes, which is much quicker than Bitcoin – where it takes around 10 minutes to generate one block.
  • Due to quick generation, Litecoin supports far more transactions than Bitcoin.
  • The overall cap limit of Litecoin is set at 84 million, which is relatively higher than that of Bitcoin’s (21 million).

The current market cap of Litecoin is about $175 million – making it the 4th largest cryptocurrency in the digital world.

Steem:

With $170 USD market cap, Steem is the 5th largest digital currency. “Steemit” is the largest platform that offers the opportunity to earn Steem. The platform is filled with a huge range of stories.

Since there is no mining process, you can only earn Steem by contributing to “Steemit”, either by writing articles or rating/commenting on other’s articles.

Dash:

The last one on our list is Dash, which, in terms of features is pretty close to Bitcoin software. Here are some unique features of Dash:

  • Advanced privacy. Some even say its privacy features surpass the ones offered by Bitcoin.
  • Whereas Bitcoin transactions can take several minutes, Dash transactions are quick and instant.
  • Low transaction fees.
  • Similar to Bitcoin, Dash is P2P and decentralized

Conclusion:

Although the competition is tough, Bitcoin is leading the race by a fair margin and isn’t going away anytime soon. However, the other currencies are also there to stay and compete, which will surely play a significant role in the evolution of digital currency environment in near future.

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Japan to Have One of the Largest Bitcoin Mines in the World

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Presently, a Japanese conglomerate, DMM, had announced the launch of a Virtual Currency Division, which will construct a DMM mining farm. This mining farm is supposed to be the largest in Japan and among the top 10 largest mining pools of the world.

DMM is famous for its e-commerce domain that offers all sorts of e-books, robots and let’s not forget the regular 27 million users.  The company is hoping that their DMM Mining Farm makes the top 10 list of mining pools by 2018.

The cryptocurrency market might be a little shaky in China, but Japan is all in for the digital era. Indeed, Japan is also credible for the global success of cryptocurrency.

 

News Credits: techjuice.pk

Image Credits: bitcoinmining.com

Tags: Best bitcoin miner, japan bitcoin, 

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“Black Cell” Shuts Down by Hong Kong Securities Regulator

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On 19th March, SFC website posted that the Securities and Futures Commission of Hong Kong has halted the Black Cell Technology’s ICO (Initial Coin Offering) because the offering is constituted as an unregistered CIS (Collective Investment Scheme).

Now the investors of Hong Kong must have to be refunded by the Black Cell for their investments in the tokens. This would support “Krops,” which is a mobile application and a marketplace that lists the agricultural products. At the same time, many warnings have been issued by SFC for companies before, however, today is the very first intervention of shutting down ICO technologies in Hong Kong.

ico technologies

Black Cell to Its Investors

Black Cell promoted the ICO on its website by enlightening their investors that their investment would be considered as funding and will be used for the development of Krops mobile application. Black Cell also told the investors that the token holders would have the rights equivalent to the Black Cell.

In January 2018, a cease-and-desist order was filed by the Philippines SEC (Securities and Exchange Commission) against four different companies that were linked with Krops and Black Cell as well as for offering Krops token in the form of securities.

Why Black Cell was targeted?

Black Cell was specifically targeted because their token provides a return for token holders. That was the move which labelled the token as a potential security. There’s no doubt that their other projects have been more abstruse in their approach but on the other hand, it avoided direct regulatory involvement. Even with the authorities making their approach clear towards ICOs, the question still remains the same that for how long that autonomy will continue.

Jay Clayton Views

The U.S. SEC (Securities and Exchange Commission) is taking a hard line on the ICOs following the securities laws. Jay Clayton, head of SEC has recently noted that all the ICOs that he has seen need to be considered as security and added, that they should be registered with the Securities and Exchange Commission before they are sold to the investors of US.

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ICOs – A Remarkable Figure Despite Challenges, but how?

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successful ICOs

2018 has been a very dramatic period for blockchain and cryptocurrencies from the start. The crypto world has seen a nonstop slump in the price of Bitcoin and other altcoins, as most of the tokens traded below their ICO price, still there’s been no relent in the amount of money that was raised during this time.

Even with the institutional and political struggles that the cryptocurrency ecosystem faced, specifically paying attention to ICOs (Initial Coin Offerings), this steady rising trend raises curiosity.

Quality of ICOs As A Whole

LKI Consulting is a PR firm that has conducted few ICOs especially, in the last couple of months. The founder of LKI Consulting, Laura Kornelija Inamedinova believes that this ICO trend is linked to the upsurge in the quality of ICOs as a whole. Furthermore, Inamedinova explained how time has shown that these features are essential in order to have a successful ICO.

Even though the ICO market has rocketed and noted remarkable facts, still there is a number of projects that haven’t accomplished in attaining there “set out” goal, that makes them unsuccessful.

Why ICOs attract investors from outside the industry?

Founder of Cashaa, Kumar Gaurav believes that the industry must look ahead of the crowdfunding exercise which has been carried out by many projects at this time in terms of ICO. Gaurav’s company dismissed around $14 million of the $33 million that was raised in an ICO due to acquiescence reasons.

Gaurav identified a problem that ICOs attract investors from outside the industry who only take interest in their own profit and not in the technology. Similarly, there are plenty of beginners who are really interested; however, they just started to learn and might be frightened of the market’s volatility.

Gaurav identified another trend, that is the salvaging of investments inside the ecosystem which appears to expand the industry beyond its actual capability. He noted that most of the investors just try to sell older tokens and buy new ones.

Complicated System

Apparently, most of the ICO investors are just speculators for the short-term and this is something that makes it a little bit difficult for project developers and builders in executing their objectives, efficiently. It’s quite common these days to categorize an ICO as successful, depending just on the amount it raised through the crowdfunding process. To avoid being seen as a failure, companies began to set lower goals deliberately. Gaurav further explained that to find out what successful ICO is, we may also need to have a look at what will happen to the company after a year.

 

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What Are Some Ways to Make Money Online Using Bitcoin?

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Ways to Make Money Online Using Bitcoin

Bitcoin is a decentralized, peer to peer, digital currency. It can be sent from person to another without having to go through a clearing house. Since the currency is not monitored or regulated, the transaction fees are extremely low. And this is the main reason as to why the use of Bitcoin is increasing each day and people are making a lot of money online through cryptocurrency.

If you are also fascinated by Bitcoin and want to learn about how to make money online using bitcoins, you have come to the right place.

Here we have discussed some ways that will help you earn money online using digital currency. Give each a solid read.

Ways to Make Money Online Through Bitcoin:

Bitcoin Faucets:

What are Bitcoin faucets? These are websites/apps that dole out the reward in the form of satoshi: hundredth of a millionth BTC. The reward is distributed among those who complete a specific task given by a faucet.

Once you get used to the faucet system, it becomes more like an addicting game. So it turns out to be a great way to make money while having fun solving CAPTCHAs.

Auto Trading:

One of the easiest ways to earn Bitcoin online is using bots that automatically trade bitcoins for users. These bots work 24 hours a day and 7 days a week which is quite remarkable, especially for beginners as they lack the expertise of trading coins.

Affiliate Bitcoining:

The most common way of Affiliate Bitcoining is to set up your own website and offer tutorials about bitcoins for a formal fee. The paramount advantage of having a personal website is that it attracts several advertisement agencies to place ads; which is a great way to make online money.

Mining:

Mining is the main source of generating bitcoins. In bitcoin mining, multiple miners connect with each other to form a pool – also known as bitcoin mining pool. These miners then work on solving blocks. Once a block is solved, the pool members receive their reward in the form of bitcoin.

Since the bitcoin is treated as a currency, loaning your coins is a great way to generate large sums of money.

These are some proven ways to make money online through bitcoins. However, there are always some security risks involved in online money generating techniques, and bitcoin is no exception.

There are a couple of things that you should be aware of, such as websites that ask for plugin additions on your system. It’s a huge red flag. Steer clear of such websites. It could be a trick to steal your information which ultimately puts you at the risk of theft.

Conclusion:

These are some simple ways to make money online using bitcoins. Although they seem pretty simple and straightforward, you will need time to get used to it. Moreover, there are some risks involved – such as information stealing websites. So you will need to be extremely careful to avoid being another name on the victim list of Bitcoin scams.

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LITECOIN GAMBLING – BEST SITES, ADVANTAGES AND DISADVANTAGES

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This article will give you a complete and comprehensive guide to Litecoin gambling. First of all, you have to find a description of how this digital currency works and by what means to gamble with Litecoin. In this article, different available litcoin gambling games are discussed.  These games are including dice games to complete casinos and also simple lottery games. In the end, you will find some benefits of gambling with Litecoin and also a comparison between Litecoin and other Digital currencies like Bitcoin.

How Litecoin Works and How to Gamble with It?

Litecoin mined same as Bitcoin. There are ultimately 84 million Litecoin, however, at this time there is a lower percentage of that number. You may hold this digital currency in a dedicated wallet, which you can download on the most computer and also your mobile devices. You can buy and sell Litecoin at the same exchanges which sell you Bitcoin. These exchanges include BTC-E and Coinbase. There are some restrictions on purchasing Litecoin and Bitcoin by using payment method which is potentially reversible. But you can buy Litecoin with Bitcoin and Vice-Versa.

Anyone can gamble anonymously with Litecoin. You just have to register yourself at an online casino with an email address. You pay through your wallet using a receiver Id, which you do through cut and paste from a gambling site. The deposit ad withdrawals both are almost instant. When you have to withdraw you just enter your wallet Id and the total amount you want to transfer.

There are a lot of Casinos which accept Bitcoin have started to allow gambling through Litecoin too. Known as “Natural Successor” to BTC, and is the second most famous digital currency online.

What are Litecoin Gambling Options?

There is a wide range of online gambling options with Litecoin. Some gambling games are also available which you can play with Litecoin. The main difference is the simple games that have established by the digital currency community, and the by the fully developed casinos. These online gambling games offer different payment method as pay through Litecoin or Bitcoin.

Some games are graphically much ugly. The biggest attraction these games is that they have the technology which shows that they are provably fair.

Here are some examples of best gambling sites

1.     Litecoin Hi-Lo:

This a simple game in which you have to guess high or low through a sequence of cards. Since you can discuss the odds you get and can also choose how much risks you are ready to take for every card. These games are Provably Fair.

2.    Litecoin Dice:

This is a probability based game, generally based on a casually generated number which is between 1 and 100. You have to just set your own odds by selecting the range of wins. You will be able to check whether the game was random after facts. The sites which provide these games offer a trail of the last 20 games for you so you can able to see the results of those too.

3.   Ponzi Games:

In these games, you have to make sure you have not left holding the bounty after 24 hours are up. You will buy a string from the last player, then 0.01 LTC will be added to the total at this point. Then try to sell the string. If someone buys the string, you make a profit, if not, then you will get a 10% as a consolation prize.

What are The Casinos Accepting Litecoin?

Bitcasino.io is the fully featured casino which runs on the platform offered by CoinGaming. This includes 3D slots from the acclaimed BetSoft, Video Poker, and Keno. You can also find a Live-Dealer Casino too. The suggested names also accept Bitcoin. If you like sports, the Bittcasino also have a fully-featured sportsbook.

What are Gambling Advantages With Litecoin:

Most of the advantages of gambling with Litecoin are common with Bitcoin.

·        These advantages include check and balance to verify to confirm the fairness of games.

·        You can play with Litecoin anonymously.

·        No personal backup document and information is required by the gambling sites.

·        There are no transaction fees playing with Litecoin.

There are some technical benefits however, these are behind the scenes in the Blockchain processing.

Tags: bitcoin vs other cryptocurrencies

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