The 1,000 Club – Altcoins From the Depths | ELEVENEWS
Connect with us

Criptodivisas

The 1,000 Club – Altcoins From the Depths

Published

on

A

Ah, the 1,000 Club – where 24 hour volume range between $0 and the price of a good pair of shoes. Where blockchains abandoned by their developers go to die. Where a 500% daily spike can be caused by a few hundred dollars worth of trades.

// — Discuss and ask questions in our community on Workplace.

However, it’s not all doom and gloom. In our random trawling through the coins ranked 1000-1099, we’ve also uncovered some unlikely gems; although they’re few and far between amid a sea of joke-coins, scams and just plain old bad ideas.

With that said, let’s take a look at some of the coins which are languishing in the 1000 Club.

Cannation Coin #1010

Cannation is unlikely to remain in the 1010th spot for long as it continues to make good on its 49% gains over the last day. In the last 36 hours Cannation Coin jumped 280% – but this was a recovery from losses incurred earlier.

// — Become a yearly Platinum Member and save 69 USD. Click here to change your current membership — //

Cannation Coin joins the burgeoning ranks of ‘pot coins’, where the (sometimes vague) aim of the project is to promote and/or increase the profile of the legal cannabis market.

Cannation launched in May 2017 and grew steadily all the way up to January 14th when CNNC coins were priced at $0.39. However the subsequent crash carried on for the last six months to leave CNNC at a price of $0.01 – marking a 97.31% bloodletting for the once promising pot coin.

Cannation has a total 24 hour volume of $2,310 with 97% of that coming from CoinExchange. CNNC is also listed on YoBit and NovaExchange, while its listing on Cryptopia was brought to an end on June 7th.

The cannationcoin.com website is dead and doesn’t look to be coming back any time soon. The Bitcointalk forum thread is remarkably small for a coin launched over a year ago, but is still being occupied by a few enthusiasts.

Without casting aspersions: it would be easy to jump to the conclusion that Cannation Coin was a fugazi – a basically useless ICO launched in a weekend by some opportunistic money-makers. Such a coin probably wouldn’t take hold today, but in mid-2017 there was still room to grab people’s attention with a cannabis-focused altcoin.

Carboncoin #1058

The Carboncoin blockchain has been up and running since 2014, but besides a 600% spike in January the coin has failed to gain traction, recording typical daily trading volumes of a few hundred dollars.

The project aimed to create a sustainable and environmentally friendly approach to cryptocurrency mining by planting a tree for every set amount of CARBON coins mined.

For much of the coin’s lifetime it was priced at 1 satoshi. During January’s peak that price rose to 12 satoshi.

Control over the project has changed hands since launch, and some recent activity posted on Medium suggests the current developers are gearing up for another big push. A new ICO is being launched, with current CARBON holders being urged to hand their coins in for a new version of Carboncoin.

Many users on Bitcointalk have denounced this is a scam, with some claiming to have lost their coins to the scheme already.

Where Carboncoin goes from here remains to be seen, but a meagre 24 volume of $18 just a couple of days ago suggests that a huge marketing push would be needed to jumpstart a climb up the rankings.

PutinCoin #1054

The landing page of the PutinCoin website describes its function as being to serve as a tribute to both the President and the people of ‘…one of the largest and greatest country (sic) in the world: Russia!’.

The PutinCoin blockchain uses both PoW (Proof of Work) and PoS (Proof of Stake) in its confirmation algorithm, and promises the usual mix of fast transactions and low fees.

While January 2018 saw a strong performance by PutinCoin, its best performance actually came in 2017 when 1 PUT coin reached a price of $0.04. Indeed, 2017 was kind to PutinCoin in general, and PUT coins regularly recorded a price exponentially greater than its current price of $0.003.

PutinCoin disappeared off the map in 2018, and has a 24 hour volume of $300 at the time of writing. However, it has also managed to remain listed on numerous exchanges, including Cryptopia, Livecoin, CoinExchange, TradeSatoshi and Crex24.

As with many of these coins down in the low 1000’s, there is uncertainty as to whether or not  PutinCoin is a scam. A lack of response by developers has led many to believe the project lacks authenticity, while there remain some forum members who vouch for coin’s future potential.

BiblePay # 1039

BiblePay is a Christian-oriented blockchain which donates 10% of its funds to charities and non-profit organizations. The project is sponsor to over 300 orphans on a monthly basis, and encodes the King James Bible in its transactions in what it terms a Proof-of-Bible (PoB) hash.

BiblePay is currently is something of a lull, having crashed around 50% since its recent high point on April 15th. One BBP coin is currently priced at $0.002703, which is 78% less than it was during the gold rush of January.

The BiblePay thread on Bitcointalk.org is still very active to this day. An enthusiastic group of volunteers continue to develop and refine the blockchain, and its economic rankings are ultimately not reflective of its overall popularity. The project only launched in November of 2017, and there’s still plenty of time for BiblePay to climb the market cap ladder.

42-Coin #1057

What if I told you that one of the most expensive coins in the top 1628 cryptocurrencies was the coin ranked at number 1057 by market cap?

Because that’s the case for 42-Coin, which holds the unique virtue of only having 42 coins in circulation.

42-Coin debuted in January of 2014 at a price of $1,013,620. Popularity cooled on 42, and the value of the coin fell to a mere $38.41 by August 2016.

However 42 then got swept along by the growing market throughout 2017, and by January of 2018 had reached a unit value of $91,000.

Two-thirds of those gains have since been lost, but 42-Coin still ranks an overall third for the cryptocurrency with the highest face value. The title of most expensive cryptocurrency was previously held by 42-Coin, but it eventually lost out to Project-X and Bit20, which recorded token values of $2,530,660 and $1,702,440 respectively.

As the website landing page states:

“42 – the answer to life, the universe, and everything…”

If that isn’t enough to get your investment then I don’t know what is.

Woodcoin #1072

You’d be forgiven for thinking this was another of those ‘mine a coin – plant a tree’ platforms, but Woodcoin actually has a lot more going for it than just replanting the rainforest.

Woodcoin seeks to find the sweet-spot between inflation and stagnation by growing logarithmically (LOG). This means that mining rewards decrease at a set rate, and that coins mined right now will always be worth more than coins mined tomorrow.

Unlike Bitcoin and Litecoin who released half of their coin supply in the first 4 years, Woodcoin will release theirs over 200 years.

No pre-mine or ICO took place during Woodcoin’s launch. Its blockchain has been operating since way back in 2014, without any fork, interference, or influence in that time.

At the time of writing, Woodcoin’s 24 hour volume stands at $39. One LOG coin is worth $0.09 – which is almost half the level it achieved in April, and a four-fold decrease from January’s peak of $0.39.

The forum chatter is limited, and developers don’t show themselves very often. Don’t expect Woodcoin to sprout and grow any time soon.

PiggyCoin #1094

Not many cryptocurrencies are specifically aimed at children, but that’s exactly what sets PiggyCoin apart from the competition.

The only trouble is that it doesn’t seem to have helped. PIGGY coins have halved in value since March, and the 24 hour trading volume has sunk to $402, from a respectable low-six figures recorded in January.

It’s not clear how much input the original developers still have in the project. The only posts on their blog in the last year relate to exchange delistings, with no news of upcoming developments being posted in a long time.

The idea behind PiggyCoin is novel, and we may eventually see some version of it succeed one day. PiggyCoin’s website and wallet is designed to educate children about sensible economics, while also introducing them to cryptocurrency. Several games exist on the website, mostly based around the eponymous Pig.

Regardless of its recent performance, PiggyCoin has still experienced a tremendous 600% growth since the time of its ICO, going from a coin price of $0.000129 up to its current value of $0.000967.

So there we have it – another handful of lurkers from the depths of the market capitalization charts. Whether this article inspires you to buy up some PutinCoin, or to simply never venture past the Top-100 ever again is entirely up to you.

Criptodivisas

Japanese Publication Evaluates Term “Cryptographic Assets,” Investigating Opinions Of Investors

Published

on

Japanese Publication Evaluates Term “Cryptographic Assets,” Investigating Opinions of Investors

In Japan, there have been many changes in the regulatory measures staked in favor of and against certain processes in the crypto world. Recently, the government chose to amend some of the information found in the Financial Instruments and Exchange Law and the Fund Settlement Act. The new changes tighten the reins on trading and the involvement of exchanges. One of the big changes involves the transition from the terms “virtual currency” or “digital currency” to be “cryptographic assets.” As such the amendments also state that the exchanges much have the funds to reimburse customers, in the event of a theft via cyber-attack, as stated in a report from Nikkei.

The registration system in Japan for crypto exchanges was first added to the regulations in April 2017 by the Financial Services Agency. The goal was to create regulations that govern cryptocurrency but hacking attacks and a lack of oversight of anti-money laundering protocols have spread out throughout the industry. The FSA had set up a meeting to discuss the creation of stricter regulations, due on March 18th, and they have been trying to engage the public in the discussion.

Obviously, one topic that should interest the public is the renaming of cryptocurrency to “cryptographic assets.” The use of the term “crypto assets” has been seen a lot in mainstream media at even at conferences. Even if the crypto industry does not expand from here, the terms need to be the same across the border to prevent confusion with fiat currency, like yen or the dollar.

Source.bitcoinexchangeguide

Continue Reading

Bitcoin

Ethereum (ETH) Price Loses Its Gains by 7% while Dropping Back to $139

Published

on

The market has been euphoric with greens with Ethereum yet again leading the market with over 11 percent gains. The 2nd largest cryptocurrency by market cap of $17.3 billion that has been changing hands at $164.96 with 24-hours gains of 11.63 percent lost 7 percent and went back to $139 in a matter of few hours. In the BTC market, it is down by 1.94 percent, as per the data provided by Coinmarketcap.

Ethereum Price chart, Source, Coinmarketcap

This time, the daily trading volume has taken a bigger spike than the last time as at press time it has been at $5.7 billion in comparison to last weekend’s $4.2 billion. Given the surge in price until a few hours back as well as the trading volume, the next week could have been seen bringing new greens. However, the red has made the entry.

Without reds, the next target has been $170, with $200 seems like the real possibility here as well. When Ethereum price first surged, it has been expected that $170 will be soon coming in as crypto trader, Moon Overlord had said at that time,

“$170 feels like a magnet to me.”

With Ethereum already crossing $160, the real fun has been expected to start now.

“First target here at $163 reached, watching this level closely for what type of reaction we have. Ideally would like to buy any dip from here targeting $190-200.”

With Ethereum Constantinople hard fork coming this week on Thursday, Ethereum could be seeing the green. However, as we reported earlier, fundamentally this upgrade is not a bullish event rather a bearish one given the fact that without this upgrade, the supply issuance of Ether would have been less than what would be after this hard fork but the narrative currently is bullish and that matters.

However, as crypto trader Squeeze has called out for a short, the dip came as other analysts have also been calling out for but only once Constantinople passes through.

In the current red market bitcoin is also seeing a dump but like any other bear market, altcoins are seeing an even more crash. Though the market is bearish right now, it would be interesting to see if Ethereum breaks the $150 level again to reach $200 and if will further register more gain or will pop and fizzle once we make through the next week.

Where do you think Ethereum will go from here? All the way to new lows from here or another rise is sure to come? Let us know what you think!

Source.bitcoinexchangeguide

Continue Reading

Bitcoin

Top 7 Cryptocurrency Predictions for 2019

Published

on

Some days it feels like it’s all bad news for crypto. When the Federal Bureau says it’s not even a blip on the radar, the SEC delays another important decision, or the Chinese clamp down on content. The Ethereum scaling issue is putting everyone in a bad mood and regulatory uncertainty is causing confusion.

But, hey. If there’s anything we know about this crazy space, it’s that the situation can turn on a dime. Daily fluctuations and weak hands aside, a lot of hard work is being done. Countries like Switzerland and Malta are leading the way on regulation. Robust platforms are getting built. And those truly dedicated to crypto have hung up a “business as usual” sign despite the market slump.

But what’s in store for the year ahead and as we move into Q4 2018? Check out these top 7 predictions for 2019… Any thoughts of your own?

7. The Year of the Security Token

If 2017 was all about raising tons of money without fear of regulatory interference, the day of reckoning has come. In the United States, particularly, there’s an overall consensus from the SEC that most tokens are securities. And even if they aren’t, well, people just aren’t taking chances.

6. Further Price Decline Before Upward Swing

crypto price decline

You were probably hoping to hear about rainbows and butterflies and Bitcoin and Ethereum skyrocketing in price. Well, that isn’t necessarily going to happen. At least, not until a further drop first. According to Kovalak:

“The largest cryptocurrencies will test lower prices before new all-time highs. Would not be unreasonable to see Bitcoin go below $3,500 and I think at these levels the fundamental story becomes hugely attractive.” Are you ready for another drop? Better buckle your belt!

5. Decentralized Exchanges and Greater Security

It’s not only John McAfee who thinks that decentralized exchanges will take over as we move into the future. There’s always been something just not quite right about centralizing a peer-to-peer technology.

But with decentralized exchanges suffering from poor usability and transaction limitations, they’re still struggling to take on the incumbents. 2019 will change all that, not only making transacting cheaper but also keeping our crypto safer since having one single point of failure has been many an exchange’s undoing.

4. Enterprise Adoption

Ledger CEO Eric Larchevêque said, “Enterprises are really at the gates of cryptocurrencies. They are waiting to invest as much as they can.” And 2019 will see larger companies integrating blockchain technology into their business processes. They’ll start to see the benefits of cost savings, fraud reduction, and greater efficiency.

Khaled Khorshid, Co-Founder | Technology for Treon, says “I predict that 2019 will be similar to 1999 when Enterprise Systems like Oracle, Siebel, Clarify, SAP, Broadvision, and others brought a leap in companies’ efficiencies by automating and integrating business processes. Starting in 2019 Blockchain technology will take companies to the next level, from data management to the information age. DApps will be the focus.”

3. Institutional Investors Jump In

As regulation finally makes it to a point where traditional investors are comfortable enough to go all-in, the crypto space will explode. Projects that are similar to existing financial systems will gain in popularity first, including Bitcoin Futures and ETFs. Says Zhang Jian, Founder of Fcoin:

“2019 will be the year that traditional investors within the stock market will take the leap into digital assets. Compliance standards and regulations will begin maturing in their understanding of blockchain, both domestically and internationally. As these specific regulations materialize and roll out to the public, a new wave of market-makers will pour into the space.”

2. Scaling Solutions

bitcoin lightning network

“The most interesting ongoing development in cryptocurrency today is the prototyping and release of Layer 2 solutions such as Bitcoin’s Lightning Network and Ethereum’s Plasma,” says Co-Founder and CSO Dhruv Bansal of Unchained Capital. “It’s become clear that cryptocurrencies lucky enough to attract sufficient investors and users inevitably succumb to the twin afflictions of increasing fees and limited throughput.”

Solving most existing blockchains’ scalability issues can and must take front and center in the year ahead if they’re to stay in the race. Says Bansal, “Bitcoin’s Lightning Network was beta released to the public earlier this year and already has some 3000+ nodes with 10k+ payment channels between them, providing a capacity of more than $500k in BTC for near-instant peer-to-peer transactions.

Ethereum’s Plasma project has not yet launched but a new paper by lead developers Vitalik Buterin and Joseph Poon suggests much progress has been made on the structure and design of Ethereum’s answer to the Lightning Network.” Watch this space.

1. Mass Adoption

That 2019 will be the year of mass adoption of cryptocurrencies is hard for many to believe. Most of the wider US and UK public have never heard of blockchain or–if they have–think it’s something illegal.

Most likely, when we start to see wider usage, Asia will take the lead, although, it’s doubtful that blockchain solutions will have enough maturity for mass appeal in the coming months.

The general consensus from the crypto community seems to be that next year is too soon to see mass adoption of crypto. We first need scaling solutions, investor buy-in, enterprise integration, tighter security, and, of course, regulation. But who knows what’s in store for 2020? That’s a little harder to gauge.

News Source:

Continue Reading
Advertisement