But did you know it was claimed to be owned by failed entrepreneur (or far, far, worse depending on who you ask) crypto-thug Homero Josh Garza? I would have just called him Homer because his crypto-scam exploits hurt a young community with his buffoonish attempts at scamming people (in a business where you could have made far more money NOT scamming them- what a ‘tard).
At one time the criminal mastermind (LOL appropriate) of GAW Mining he now is making monthly payments on a $12 million dollar Securities and Exchange Commission securities fraud penalty. The less than venerable man is also purported to be the owner of a frail and aging ISP system somewhere in the northeast (probably got FCC problems too). Josh Homero Garza was a verifiable crypto-scammer who once ran the hilariously named “Geniuses at Work” faux-cloud-mining consortium. Simply Google this for the full drama but it was worth a few LOLs to mention the association since Bitcoin.com covered his SEC securities fraud fine.
Long story short he over sold hash-rate compared to what he actually owned. SEC fined him $12 million US dollars and he’s probably still hiding out somewhere. Check it out on the domain he once claimed to own.
AlfaQuotes.com is a source of Bitcoin “fair value” quotes. AlfaQuotes gives you what “should be” the price of Bitcoin based on its cost to mine in equipment and electricity. Bitcoin is always becoming more difficult to mine as well as increasing in popularity so generally the trend has been upward. AlfaQuotes only takes into account certain Bitcoin mining related variables into its price which takes speculation pretty much out of the picture. AlfaQuotes intends to tell you how much it will cost to mine one Bitcoin.
Check out the chart at the bottom of the page and compare the green line representing the “AlfaQuote” price and the red line representing market value for Bitcoin. This is another good tool to track potential Bitcoin value. For the first time I have seen the AlfaQuote is approximately the market value. Previously it has always been pegged significantly higher than market value.
Dennis Rodman’s latest trip to North Korea was sponsored by the cryptocurrency “Potcoin”. Potcoin bills itself as “banking for the marijuana industry” and appears to have fully sponsored Rodman’s trip. Rodman engages in what he calls “basketball diplomacy” during his trips to NOKO. Last month (June 13, 2017) Rodman boarded an airplane for Pyongyang International Airport sporting Potcoin gear and CNN was there to cover it.
Cryptocurrency market capitalization is difficult to determine but can still be a good metric to estimate growth of a cryptocurrency (even if imperfect as provided). While I accept these are probably rough estimates they are still useful data-points to follow in an industry where data is paramount.
When I began using CoinMarketCap.com Bitcoin’s market capitalization was $4 billion. Check it out yourself but as of writing (07/05/2017) Bitcoin is sporting a $42 billion dollar market cap. The site CoinMarketCap.com also gives good insight into other popular cryptocurrencies as they rise and fall in popularity. As you probably know I always recommend diversifying and I also recommend utilizing this site to gain research ideas. Don’t put everything into Bitcoin, explore new possibilities as well!
I often point out who is very shady or perhaps incompetent but I do not often promote any business due to the very difficult nature of ascertaining lasting and legit cryptocurrency businesses from those who are looking for fresh bag-holders.
In cryptocurrency you cannot really trust any actors or businesses due to the extremely volatile and high-intensity, profit-driven, scam-filled environment (isn’t that why we are here, down in the mire?).
One company that has consistently provided effective, profitable hashrate is Hashflare.io. In the future I will profile other admirable corporate attempts at cryptocurrency success but for now I can let you know for over approximately two years Hashflare.io has kept its contractual obligations. I have broken even on these contracts (SHA256 and Scrypt) over a year ago! I cannot say anything bad about this.
Yobit.net Banned My Account During the 2016 Election
Was this a covert attempt to hide the 1000x value of “Trumpcoin” versus “Clintoncoin” on this Russian-controlled website or is Yobit.net an arm of the KGB (I mean, FSB, whatever)? In either case it feels extremely shady. Writing a cryptocurrency blog you are always wondering if you can monetize it with advertising but you want to be quite sure you are propagating legitimate organizations and actors. I would not trust Yobit.net simply because they offer 20% per trade on referrals but I have further reason to deeply mistrust this cryptocurrency actor. That 20% per trade commission on referrals seems scam-like. In fact, I know it most likely is.
BitcoinTalk: A Previously Okay Forum, Now Far Better
Reinvention of Bitcointalk? The former home of the most intense fear, uncertainty, and doubt campaigns has brought some sensibility to itself in the cryptocurrency world. Long a boiling cauldron of insecurity and self-righteous scamming (as well as legitimate attempts at rationality) now has become a bastion of hope. I am only being semi-sarcastic. Observe: “Low Quality Topics Do Not Belong Here”, what a shocker!
BitcoinTalk has been there for years!
I am glad that Bitcointalk has elevated itself to the rightful position I felt it deserved to occupy for some time now. I think it is the biggest Bitcoin forum on the internet but it has also been in the past a source of discouragement to the community. A sense of duty has descended upon the community however and I feel it is now a worthwhile source to mention.
AMD is surprisingly up from a low of about $2 in 2015. CNBC and Barron’s report that AMD stock is surging on news that the new Epyc processor will compete with Intel’s Xeon for datacenter technologies. If cryptocurrency miners are scarfing up AMD graphics cards now due to the wonderful performance-to-price ratio provided I can imagine further growth in this stock.
Let’s face it AMD is making a comeback. The stock is $13.52 in pre-market trading, that is up $0.88 as of writing just 20 minutes before the opening bell 6/21/2016. This has more to do with the release of the Epyc processor competing in datacenters with Xeon but we also know how much the cryptocurrency community appreciates GPU’s for mining new algorithms for which no ASICs are taped out yet.
CNBC erroneously refers to demand among Bitcoin miners for AMD technology but as we all know Bitcoin uses SHA-256 so unless AMD starts manufacturing SHA-256 ASIC chips this is related to algorithms that secure coins which are difficult to apply FPGA or ASIC technology to.
Folding Coin: The Innovative Intersection of Distributed Computing and Cryptocurrency
Proof-of-work cryptocurrencies are often criticized for wastefulness since they use a massive amount of computing power to secure the network thus “wasting” electricity. A next generation reward system for distributed computing has come forth in Folding Coin.
Folding Coin is rewarded by a point system based on how much distributed computing power you have donated to the project. You may compute for any of the various protein folding projects under the Folding@Home umbrella. It is easy to install and a simple way to distribute a cryptocurrency for a positive use of electrical energy. Instead of just hashes you are producing viable data for Stanford.