Úno 15

Make Ethereum Great Again: How ETH Could Go Mainstream in 2017

· February 15, 2017 · 9:00 am

In July of 2015, the world was introduced to Ethereum, and the altcoin market hasn’t been the same since. So what’s has the world’s second most popular cryptocurrency been up to lately? 


Ethereum’s Quick Rise to Fame

There was a time, let’s call that time, “2015,” when the Bitcoin ecosystem wondered aloud “When is there going to be an altcoin worth a damn?” Funny that we asked that because, in July of 2013, and officially launched in July of 2015, the world was introduced to Ethereum by wunderkind Vitalik Buterin, and the altcoin market has never been the same since. Time for an Ethereum progress report.

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In Ethereum’s brief history, ever since its initial, successful and innovative crowd-funding campaign, Ethereum has been a hotbed of activity, never short on drama. Its Ether (ETH) digital currency, partially thanks to the broader acceptance of Bitcoin’s digital currency, reached $1 USD in value far faster than Bitcoin ever did, reaching the milestone in about six months (Bitcoin took the better part of three years.)

DAO But Not Out

By the start of the summer, last year, Ethereum had easily passed $1 billion in market capitalization and its currency was valued at around $20 USD, at its peak. Last summer, things were going so well for young Ethereum, the brain trust launched their most ambitious project to date, the ill-fated DAO (Decentralized Autonomous Organization).

This venture brought in so many investors, but failed so miserably in its execution and security that the altcoin hard-forked, broke into two parts, seemingly permanently, and has gone through more forks to cope with the aftermath. The greater Bitcoin community had left young Ethereum for dead.

Ethereum Classic

So the second half of 2016 was a substantial slice of humble pie for young Ethereum, as its value dropped to a still impressive $7.99 by year’s end. Even after being literally broken into two (Ethereum Classic still exists, trading for about $1.25, according to Coinmarketcap,) that is over 700% in appreciation in its first full year, far exceeding the 126.2% return Bitcoin brought back during the same period.

The Next Big Move?

They also had one hold card that had yet to be played in Q1 2017. Microsoft had helped Ethereum get noticed by the mainstream, back in December of 2015, through the integration with their Azure platform for blockchain technology, which was based primarily on Ethereum’s version of blockchain technology.

Many see this as a keystone to Ethereum having such a meteoric rise in early 2016. It looks like Microsoft is ready to make deja vu all over again in the weeks to come.

Bloomberg reports that Microsoft and Ethereum have another agreement, and a major announcement of a new platform application that will again feature Ethereum’s version of blockchain technology is forthcoming. Microsoft, powerful tech companies, and major banking interests are forming what is being called the Enterprise Ethereum Alliance, and this could be a true moonshot for Ethereum’s mainstream adoption and market value.

Bitcoinist_Microsoft Logo

The details and sources are hush-hush, which indicates how big this could be, and is expected to be announced before the end of the month. It’s “smart contract” foundation in creating faster, more secure transactions than is currently used is seen as the main impetus for its ability to create a mainstream corporate alliance.

Apparently, some people know what’s about to happen, as Ethereum values have soared over 60% just since the first of the year, as ETH has gone from under $8 to approaching $13, as of this writing. Something tells me that’s just the beginning of an even greater winning streak for Ethereum.

I’m Not a Financial Advisor, But…..

I did stay at a Holiday Inn Express last night! Therefore, maybe throwing some BTC in on ETH in the short term should be looked into? Sometime around……hmmm…..I don’t know……right now?

chart-6

Kudos to all who developed Ethereum and stayed the course. In what is turning out to be an epic comeback story, those who kept the faith late last year in Ethereum seem poised to be handsomely rewarded with their ROI on shares of the world’s greatest altcoin, Etheruem. The altcoin ante has just been upped.

Gonna be difficult to beat a mainstream business and technological alliance with Microsoft as its bedrock, don’t you think?

Will Ethereum make a comeback this year? Share your predictions below! 


Images courtesy of Shutterstock, Miscrosoft, Coinmarketcap, Ethereum.or, Fortune

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Altcoin Report: Ether Outranks Bitcoin as Highest-Performing Cryptocurrency

Source: bitcoin

Altcoin Report: Ether Outranks Bitcoin as Highest-Performing Cryptocurrency

Zcash trading goes through the roof; ether is the highest-performing cryptocurrency of 2016, and cross-border payments are possible through Ripple. Want to catch up on your latest altcoin news? Read the stories below.

Also read: Altcoin Report: Ethereum Classic Embraces the Hard Fork

ZCASH

The recent launch of Zcash created a trading frenzy on Poloniex the other day, causing the price to reach an impressive $2 million per coin. It appears the currency’s status changed within a mere matter of seconds, although some attribute the high-level price hike to a potential error which may have added a few zeros to Zcash’s end.

Presently, Zcash is in incredibly short supply. Approximately 100 coins have been mined thus far, while an additional 300 will be mined in the coming days. However, demand does appear to be relatively widespread. Recently, exchanges ranging from Kraken to Bitfinex have added the currency to their respective trading platforms.

ETHER

Pave the way for cryptocurrency’s latest celebrity figure. Ethereum-based altcoin ether is slated to become 2016’s highest performing digital currency, beating out bitcoin for the top spot.

Last January marked a turning point in ether’s history, as usage gradually increased and the coin’s price practically doubled overnight. While bitcoin has recently met the $700 mark for the second time within the span of one year, many have complained that activity has remained relatively stagnant, which may have altered the currency’s reputation over the last 12 months.

Despite the fall of the DAO last summer, the price of ether has still managed to stay well over $10 and experience a value increase of nearly 1,200 percent in just the last year alone. Thus far, value has continued to remain stable.

RIPPLE

12 banks of the R3 lab have undergone trials of Ripple’s blockchain to test cross-border payments and cut relative costs. Some of the banks involved include Barclays, the Royal Bank of Canada, Santander, and Westpac Banking Corporation.

In a statement, Ripple explained:

“This trial introduced XRP to test the feasibility of reducing or retiring the use of current Nostro accounts for local currency payouts.”

The first credit card company to join R3 and be part of the trials is Synchrony Financial. Company CEO Carol Juel expressed enthusiasm, stating its partnership with R3 is likely to open doors in the future:

“Having access to the R3 network and research will be valuable as we think through the many opportunities for blockchain to be leveraged across the consumer finance landscape.”

Know of any altcoins that deserve a place in our regular reports? Post your comments below.


Image courtesy of Twitter

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Altcoin Report: Ethereum Classic Embraces the Hard Fork

Source: bitcoin

Litecoin

Ethereum Classic undergoes a successful hard fork, Zcash prepares for its grand introduction, and Jaxx adds Litecoin. Want to catch up on your latest altcoin news? Read the stories below.

Also read: Altcoin Report: Monero Shutting Down Until January

ETHEREUM CLASSIC

Following a recent DDoS attack, Ethereum Classic has undergone a successful hard fork to set things “back to normal.”

This is not the first time such a move has been executed, and unfortunately, the price of ether has suffered in the long run. Immediately following the hard fork, the cryptocurrency dropped by about three percent, although this may be a direct reaction to bitcoin’s recent rise (currently $681 at press time). Others are arguing that the system has already undergone too many forks and that Ethereum isn’t likely to benefit as it once has.

The decision allegedly stemmed from cryptocurrency developers without any public input, which has ultimately led to controversy. In response, a small group has already formed to “continue the original ETC chain.”

ZCASH

The launch of Zcash is set to take place on October 28, and mining companies are preparing themselves as best they can. The new cryptocurrency has already earned the attention of platforms like Jaxx, which announced plans to integrate the new system into its blockchain wallet.

Describing his venture, founder Zooko Wilcox states:

“Zcash is a new technology that lets you put encrypted data into a blockchain. Blockchains as they currently exist, don’t offer much (or any) control over the disclosure of the data you put on the blockchain. Any data you put in there is visible to all users of the blockchain. Zcash is the first protocol of its kind, and is the accumulation of years of academic research, hard engineering work, and diligent security work.”

JAXX

After several calls to add Litecoin to its system, Cryptocurrency wallet Jaxx has announced plans to comply. The virtual coin will be added to Jaxx’s platform and apps, giving users easier and more refined access to what is being touted as the world’s fourth largest cryptocurrency.

Director of the Litecoin Association Andrew Vegetabile explained:

“Having Litecoin integrated with Jaxx allows our community members, who are also members of other communities, to feel a sense of unity when accessing platforms that allow multiple cryptocurrencies. This partnership enables those cross-community members to access their various cryptocurrencies in one platform without having to worry about keeping up with multiple wallets and applications.”

Know of any altcoins that belong in our regular reports? Post your comments below!


Images courtesy of YouTube, Bitcoinist.

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Industry Report: The Halving That Came and Went

Source: bitcoin

Bitcoin Industry Report

The halving comes and goes, Ethereum wants to hard-fork, and the blockchain does income grants. Want to catch up on the latest cryptocurrency news? Take a look at the stories below.

Also read: Industry Report: The Bitcoin Bill That Became Law

BITCOIN HALVING

The halving has officially come and gone, and the results haven’t been as big as we all hoped for.

At mid-day on Saturday, the bitcoin price fell to the $620 range but jumped back to about $645 within a few hours. Despite all the press and predictions that led up to the event, not much seems to have happened. Following the first halving in 2012, however, the price of a single bitcoin increased tenfold within the first few weeks, so further increases towards the end of the month are not entirely out of the question.

The biggest fight is occurring among bitcoin miners, who face a huge drop in business. Miners are doing everything they can to avoid potential downtime, as the block reward — and potentially their revenue — has been cut in half.

Genesis Mining CEO Marco Streng explains:

“The most important thing is to be the most efficient miner. . .When the others drop out, that means that they leave the market and give you a bigger share of the pie.”

ETHEREUM HARDFORK

In response to a recent DAO “hack” that saw millions in Ether funds stolen, Ethereum holders have voted unanimously for what’s known as a “hard-fork,” which will prevent the purported thief from ill-using any of the funds taken.

According to one source, a hard-fork is “a change to the bitcoin protocol that makes previously invalid blocks/transactions valid, and therefore requires all users to upgrade.” Software engineer Nick Johnson explains that the move is designed to garner greater user protection. He also says things may seem slow at first, but few of the changes incorporated should dramatically change user experiences:

“The actual change is fairly trivial – a balance transfer between blocks. All the code around that in order to prevent bad things happening adds a lot of complexity. Not to mention very thorough testing. For instance, making sure that any nodes that fast sync after the fork, sync to the correct chain.”

GRANTCOIN

Blockchain-based currency Grantcoin is now offering unconditional basic income grants to users.

Launched in 2015, Grantcoin was the first digital currency to be distributed and managed by non-profit executives with the intention of supplying funds to “socially responsible businesses.” The first grant distribution took place in early July, where approximately 255 individuals from 17 nations received funds in their personal Grantcoin wallets. A second “hand-out” will occur in late September.

Grantcoin has been labeled “currency with a conscience.” It’s mission statement says:

“We insist that a new currency be equitable: that it shall be issued to all people as a human right, as a universal basic income to be enjoyed by all — to compensate, at least partially, for the accidents of birth and circumstances of fortune that have blessed or condemned different people and regions of the world to wealth or poverty.”

Know of any stories that belong in our regular industry reports? Post your thoughts below!


Images courtesy of Ethereum Blog, Grantcoin.

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Industry Report: Is Security in the Finance Sector Too Weak?

Source: bitcoin

Bitcoin Industry Report

A Deutsche double-debit; Poloniex strikes “out” for a short while; and ransomware isn’t as profitable as people think. Are these technical glitches and criminal hackers seriously threatening security in the finance sector? Take a gander at the stories below.

Also read: Industry Report: PayPal Gets Into the Bitcoin Game

DEUTSCHE BANK: DO GLITCHES LEAD TO INSECURITY IN THE FINANCE SECTOR?

Several thousand customers at a Deutsche Bank have become the victims of a double-debit. In other words, they were charged twice! The first charge occurred June 1, and the other on June 2, resulting in double rents, double utility bills, just about double everything!

Naturally, a lot of people are unhappy, and analysts are proclaiming that there’s nothing normal about the situation. While mistakes have occurred in the banking sector before, blunders of this nature are relatively rare.

Several customers recently found themselves in the negative as a result of the debiting, and are unable to withdraw funds from ATMs. Mobile and online apps have also been affected.

A Deutsche Bank representative explained:

“We have noticed several customers are affected by this double charge. Customers can rest assured these balances are not effectively debited from their account, but only represent a visual bug in the software. We are investigating the cause of this issue, which has affected the majority of our clients in Germany.”

POLONIEX

 

Account holders with Poloniex were dealt a scary blow when the exchange platform experienced an outage that left a lot of people in the dark and unable to gain access to their accounts.

While Poloniex had issued a statement ensuring that everyone’s funds were safe and sound, several digital currency traders were feeling the frustration, to say the least.

Poloniex stated on Twitter:

“There is a widespread datacenter outage affecting connectivity of several servers. Coins are safe.”

The exchange later issued a new statement via social media, explaining:

“All functionality has been restored.”

Users can now gain access to their accounts once again and get back to their “trading ways,” but after experiences with Mt. Gox, Cryptsy and MintPal, it’s not unusual to see a little fear from customers.

Poloniex has since calmed that fear, and all operations are back to normal.

RANSOMWARE

Is ransomware that effective? Not really, according to a new study by Flashpoint.

After studying Russian ransomware operations for five months, it is estimated that the highest ranking officials in the ransomware world are making just under six-figures each. Not much considering ransomware’s notorious reputation.

Several return funds are often used to organize campaigns in the first place or hire partners. Apparently, criminals don’t like to work alone, and the costs of hiring an entire team can be quite staggering. In fact, affiliates only take about 40 percent of the proceeds, more often than not.

Furthermore, in recent years, ransomware have become more willing to accept bits of data loss rather than fork out their hard-earned dough, cutting down on hackers’ revenue even more.

The monitored operations only took home about 30 payments of $300 USD. At the end of the day, despite all that hard work and effort, not a lot of money wound up in initiators’ hands.

Know any stories that should be included in our industry report segments? Post your thoughts and comments below!


Images courtesy of seekingalpha.com, Poloniex, Wired.

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Bitcoin Price Finds Stability After Massive Bull Rally

Source: bitcoin

Bitcoin Price

Perhaps last week gave us so much excitement that we needed some time off. In our previous price piece, bitcoin shocked its fans by jumping to the $530 range within a matter of days. Now, we look at bitcoin, and it hasn’t moved. In fact, several days later, Bitcoin is exactly where it was before.

Also read: Bitcoin’s Price Explodes, Is $600 Around the Corner?

Will the Price Stay Flat at $530?

Will the currency continue to rise in the coming days? It’s hard to say, exactly. Bitcoin is certainly on the rise. This past week has shown that, but a pause seems to be occurring in what can be called the Bitcoin assembly line.

As several sites and platforms reiterate, there appear to be three major things influencing the price of bitcoin, all of which we’ve covered in previous segments, so this won’t be news to regular readers.

The first is the halving set to occur next month. There’s not much else to say that hasn’t already been explained. Production on bitcoin is slated to be cut in half beginning in July. There will be fewer transactions, and the value is expected to spike.

The second seems to be interest in Ethereum. This one is really up for grabs; we saw Bitcoin drop before moving back up, and this could also have been due to re-instituted value and interest in Ether, a long-standing Bitcoin rival.

The altcoin was the subject of the largest crowdsale in history, but while some feel that this was the cause for a temporary fall in bitcoin’s status, others claim that it brought about further interest in cryptocurrency altogether, thus garnering more views and causing several to eventually turn their attention towards Bitcoin completely.

This makes sense, in a way. Bitcoin rose nearly $100 USD in just a week, while Ether’s price has remained relatively unchanged, so in the long run, this argument could go either way. Ethereum may have hurt bitcoin for a short time, but it also may have aided it in the end.

The third reason is China; their interest in bitcoin is at an all-time high. As the Wall Street Journal states:

“Huobi and OKCoin, two Chinese exchanges, now collectively account for some 92% of global trading in bitcoin. The surge in bitcoin buying this weekend could be the latest sign of how Chinese investors are moving money between asset classes quickly in search of high returns.”

The simple fact is that China is responsible for the majority of bitcoin trading, and things are slated to stay this way for at least a little while.

There may not be much news to report on the state of bitcoin, but there also isn’t any negative press. The digital currency is staying put and hovering in a solid place, and doing its best to provide and build on what it has already created, so why get in the way of that? This is one time where we need to sit back and enjoy the ride.

Eventually, bitcoin will jump higher and exceed our expectations again, but until that happens, let’s give bitcoin some room before its next big workout.

Do you see bitcoin rising again soon? Post your comments below!


Images courtesy of Entrust Financial Credit Union, bitcoinprice.tech.

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Mathematics Drives Crix Bitcoin Futures Trading

Source: bitcoin

Mathematics Drives Crix Bitcoin Futures Trading

Dmitry Koval, founder of Crix.io, a cryptocurrency trading platform, said in a recent interview: “Our mission is to contribute to the community and ecosystem by creating the best niche products such as exchange-traded futures contracts suitable for hedging and high-leveraged trading.”

Disclaimer: This article was provided by the Vanbex Group. Bitcoinist is not affiliated with the firms represented by the Vanbex Group and is not responsible for their products and/or services. 

Mathematical Bitcoin Trading With Crix

Crix

In the cryptocurrency world, where volatility can swing at even circumspect news, precision and probability must co-mingle. To gather a behavioral understanding of cryptocurrencies — to discern its movement within a probabilistic range — requires a significant degree of analytical depth predicated on vital access to historical information.

“Real mathematics stands behind many aspects of trading today. This includes the volatility modelling and the Value at Risk method we use at our platform,” said Koval.

At Crix they analyse hundreds of time periods back to then help determine the end of the next period within a certain range and probability. Like the guess of a coin-flip, understanding the percentages are a guide to making an educated assessment.

“With bitcoin, it is way more complex, but the principle is the same,” said Koval, adding, “We use a two-stage approach to determine price limits.”

In the first stage, the historical volatility of the BTC/USD market is assessed to find the mathematical function that best corresponds to the volatility data. The information is then calibrated based on the historical data sample.

Next, a Value at Risk analysis is run on the out-of-sample historical data set in order to predict a single-period price range within a given accuracy.

“Both volatility modelling and VaR techniques are widely used these days for portfolio risk management on different markets,” said Koval.

Of the cryptocurrency varieties Crix does support — Bitcoin, Litecoin, Dash, Namecoin, Doge, Peercoin and Nextcoin — there is a noticeable gap, however, ether.

Koval said, “We are going to open ETH to BTC trading at our spot section in the nearest time. We are going to introduce futures contracts as well.”

The only challenge for futures contracts is the historical data, explained Koval.

“We need 500 to 1,000 periods back to get good results for the model.”

Crix’s flagship product is its futures platform. Most efforts in development and marketing, according to Koval, go toward this part of Crix’ trading system.

However, the Crix platform also offers a spot section where users can locate benchmark prices on alternative coins (altcoins), allowing people to exchange them to bitcoins and trade futures collateralised in bitcoins without a need to use another provider.

It’s simple, convenient and honest.

“The shorter contract term at Crix (three hours, 24 hours) is the trade-off for totally mitigated slippage risk and full transparency of all the calculations,” said Koval.

“We don’t have any proprietary parameters which are changing throughout the session and therefore, no manipulation is possible by design.”

Furthermore, margin calls are prevented by setting particular trading rules.

Prices throughout the session, whether for a three hour or 24-hour contract, are limited to model-predicted limits so a trader cannot place an order priced outside of these limits, said Koval.

“Therefore, none of the traders can lose more than their initial collateral during the session.”

Visit Crix.io for more information and to test the company’s platform.


Images courtesy of Wall-Pix.net, Crix.io.

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Bitcoin Rises, But What Will Happen in July at the Halving?

Source: bitcoin

Bitcoin halving

Bitcoin is back up! Since our last price piece and Ether’s rise to the top with arguably the largest crowdsale in history, bitcoin has grown by about $9 in price and is getting people excited once again.

Also read: Ether to Blame for Bitcoin’s Decline?

As with all ascensions, bitcoin enthusiasts are coming out of the dark with smiles on their faces and happily telling skeptics, “We told you so.” For a while, it appeared as if Ethereum was going hog the spotlight. A crowdfunding campaign that manages to raise nearly $200 million is certainly something worth noting, but in the end, bitcoin couldn’t be kept down.

How Will Bitcoin Fare Heading Into the Halving?

But how long will it last? As one source states, bitcoin production is scheduled to be cut in half starting in July. Naturally, this is bound to affect the price, but in what way, and by how much?

Some say the sky’s the limit. According to Gil Luria, a Webbush Securities analyst who covers the Bitcoin investment vehicle GBTC:

“There’s always a lot of factors in the price of Bitcoin, but all those things being equal, [the halving] should help the price go up, if for no other reason than of the rule of economics… It’s a function of the intersection of supply and demand, and the halving literally means there will be less [new] supply every day.”

In other words, this could be just the thing bitcoin needs to stay on top for good. After all, a scarce item is likely to hold more value than one that is plentiful or common.

But others aren’t entirely convinced. In fact, one of the big problems expected from the halving is the fact that miners will possibly have to deal with potential drops in profitability.

Miners are responsible for keeping transactions going on the blockchain. Often, these miners receive incentives based on the number of transactions they oversee. With fewer transactions set to take place, you can bet some of those incentives will disappear, which could ultimately lead to a disgruntled work environment among present members of the digital mining sector. Unless the bitcoin price doubles in a short time, bitcoin miners could see quick and massive drops in revenue.

Furthermore, if miners become fed up with the lack of financial security and exit the mining arena permanently, we’re likely to see blockchain security compromised over time. The primary fear is that transaction limits will be hit, leading to lost faith and ultimately, the coin’s final days.

While thoughts are running wild, one thing can be labeled as marginally true, at least for the time being: we don’t know what’s going to happen. Whether bitcoin doubles in price or doesn’t go anywhere at all, there’s no way to predict where digital finance will go. The halving is on its way, and there’s not much we can do to stop it. What we can do, however, is accept the changes that are likely to occur starting mid-July, and do our best to adapt and keep our favorite digital coin (and ourselves) afloat.

What do you foresee happening when the halving takes place? Post your comments below!


Images courtesy of insidebitcoins.com, jefflau.net.

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Ether to Blame for Bitcoin’s Decline?

Source: bitcoin

Bitcoinist_ Ethereum

Bitcoin has undergone a bit of a blunder and fallen by $10 since our last price piece. At press time, the currency is hovering at around $440, and some are feeling a bit nervous all over again. As the bitcoin price falls, many are wondering: is Ether to blame?

Also read: Bitcoin Price Stays Put, Can Traders Finally Relax?

Is Ether Taking Over?

As usual, price analysts had been predicting massive drops in recent weeks; the sentiment among true cryptocurrency advocates was that these thoughts were flukes, and it was probably a little too early to worry. Now, however, the old “soothsaying” is taking an even greater turn, and analysts are labeling the future of bitcoin as ugly, dark and downtrodden.

At present, the idea of bitcoin forking has almost become a thing of the past, and the focus just isn’t there like it used to be. As one source mentions:

“It may well be the case… that we do not see any capacity increase for many more months, if this year at all…”

What’s the big reason for bitcoin’s “fall?” While some are saying it’s only temporary, competing altcoin Ether is experiencing a heavy rise in price due to what some say is the largest crowdfunding campaign in recorded history. The DAO (Decentralized Autonomous Organization) project, which is being labeled as the newest and most efficient way to allocate capital, has managed to raise over $160 million via founding company Ethereum’s Kickstarter campaign. The idea is that there is so much focus on ether, and its sudden rise to the top, that many of us have forgotten about bitcoin’s reign as the ultimate crypto-coin altogether.

On top of that, ether is earning the attention of some that otherwise would have placed the currency in a growing “ignore pile.” Coinbase, for example, is announcing that they will soon be changing their name to Global Digital Asset Exchange (GDAX) simply for the purpose of trading Ethereum. Coinbase has been around for over four years, but up to this point, has never added another digital currency to its trading platform. This is certainly a first, and the move is earning just as many raised eyebrows as it is smiles.

But not everyone is convinced. In fact, some are labeling this as a temporary setback, a time where Ether earns its minuscule 15 minutes of fame before Bitcoin grows in strength and makes a monstrous comeback. Stakeholders in the DAO project are presently unable to cash out, but when that changes next week, some believe Ether is destined to take a southward plunge.

“As soon as people are able to transfer out of DAO tokens, the Ether price will drop,” says Joseph Lee of bitcoin trading platform Magnr. “People would want to cash out. The price has been rising rapidly.”

Will bitcoin bounce back up, or is the world of altcoins finally taking over? Post your thoughts below!


 

Images courtesy of bitcoinprice.tech, blog.ethereum.org

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Genesis Mining Drastically Lowers Ether Contract Prices




Source: bitcoin

Genesis Mining Drastically Lowers Ether Contract Prices

Popular cloud mining provider Genesis Mining has announced a huge drop in the price of its Ether contracts.

Disclaimer: This article was provided by Bitcoin PR Buzz. Bitcoinist is not affiliated with the firms represented by Bitcoin PR Buzz and is not responsible for their products and/or services.

Starting on May 10, 2016, Genesis decreased the price of its Ether cloud mining contracts from $44 USD per MH/s to $37 USD per MH/s. The company believes that this price cut is a great opportunity to start mining Ether, taking advantage of potential profits offered by possible future growth in the Ethereum use.

“Every day, we are working to reduce operational costs to mine on behalf of our 200,000 customers,” says CEO Marco Streng. “And every time we have the opportunity to provide greater ROI potential and value to our customers, we are honored.”

The company credits its abilities to offer such large price cuts on Ether contracts to Enigma, their Ether mining farm, and the economies of scale they enjoy from running such a large Ether mining operation.

According to Genesis Mining CTO Stefan Schindler:

“The reason we are able to continue reducing the price for our customers is due to heavy optimization of the Enigma farm and economy of scale. We are proud of bringing Ether Mining mass deployments to a next dimension with Enigma.”

Genesis Mining recently became the first cloud mining service provider in the world to offer Ether contracts. Following an unprecedented surge in the Ether price, the company decided to add mining options for the altcoin as a way to broaden its customers’ options for potential mining profits. The company has recently released footage of Enigma, which it calls “the largest Ether cloud mining farm in the world.”




To purchase Ether contracts at the new discounted rate please visit:

About Genesis Mining

Genesis Mining was founded at the end of 2013. They got to know each other by using the same platform for buying and selling Bitcoins. As our company and its user base grew, new mining farms were built up and several additional people hired, specifically programmers and engineers.

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Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin and digital currency Press Release. Click here for more information.

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Genesis Mining Drastically Lowers Ether Contract Prices




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