Monthly Archives: January 2016

Recent Altcoin Rally Running Out of Steam?

Alt coins have significantly increased in price across the board (as reported earlier). This impressive rally appears to be slowing towards the end of the week, and much depends on weekend trading activity now to show whether or not the recent run is coming to an end.

With Bitcoin holding steady throughout the week, the “silver effect” for Alt coins may be less of an incentive for Crypto coin investors to continue piling up on some Alt coins even more, although there is still particular potential for Litecoin specifically.

If Bitcoin’s price continues nicely along its trend line, then Alt coin prices may take some sort of a breather until there are fresh price impulses across Bitcoin and Alt coin markets.

The impressive runs in both DOGE (Dogecoin) and EAC (Earthcoin) appear to have subsided for the time being, particularly in light of Chinese exchanges BTC38 and Jubi having now “done enough pumping” and returning to normal. Still, dogecoins are holding on to much of their gains, albeit below the impressive highs of 138 satoshis posted over the previous weekend.

Investors wishing to participate in similar gains might want to wait for LTC (Litecoin) to advance further against Bitcoin or look out for previously quiet coins such as DOGED (DogecoinDark), MINT (Mintcoin), or AUR (Auroracoin) to gain some speed.

Europol: No Evidence of Terrorist Financing with Bitcoin

Written by Mark Mage.

In a report released last week, Europol reports that there is no evidence of any “Islamic State” terrorist financing activity with bitcoins or any other Crypto currencies known as Alt coins.

Europol’s report reads:

“There is no evidence however of “Islamic State” financing networks in existence. Despite third party reporting suggesting the use of anonymous currencies like bitcoin by terrorists to finance their activities, this has not been confirmed by law enforcement.”

Little wonder so, one might add, because Bitcoin is, in fact, not an “anonymous currency” at all but a pseudonymous *) and wide-open technology where transactions can be monitored publicly. How Bitcoin should ever have been dubbed “anonymous” is beyond comprehension, unless it stems from mass media ignorance and the way mainstream journalists use to “research” their facts and details.

Europol’s report indicates that at even IS terrorists appear to be more knowledgeable when it comes to latest developments in technology than the mainstream media. Using a wide-open technology like Crypto coins where Blockhain or Block Index entries are open to inspection by anyone might not be such a smart idea when clandestine business is what’s on one’s mind.

The official findings in the Europol report will hopefully help Bitcoin and all other Crypto coins to finally get rid of unfounded accusations of being “terrorist financing vehicles” or some “dark” or “suspicious” tools once and for all.

*) more precisely, Bitcoin is even  only weakly pseudonymous, see Andreas Antonopoulos, The Crypto-Currency Ecosystem

Major Alt Coins Increasing Across the Board

Written by Mark Mage.

The price of earthcoins has posted the most spectacular gains on BTC-38

Major Alt coins have have been posting solid, sometimes even dramatic, gains across the board during this last week of CX trading (Crypto exchange trading, as opposed to “foreign exchange” or FX trading).

This development comes on the back of a failed attempt by Wall Street big banks, the World Economic Forum, along with the mainstream media and their limited understanding of peer-to-peer and Crypto in general to first claim that Bitcoin had “failed” and, when that did not work, that Blockchain functionality was “useless”. Despite (or because of) those desperate attempts to fight the uncontrollable Crypto coin phenomenon by way of psychological warfare, the price of Bitcoin and other Crypto coins that initially took a brief hit has soon recovered.

In the case of Alt coins, prices have even been massively increasing and — as a result — look a lot more promising now than they have over a prolonged period of time.

Starting with extraordinary price gains in EAC (Earthcoin) ten days ago that saw the price of earthcoins come up from just 16 satoshis (BTC .00000016) to over their previous all-time high of 29 satoshis, Earthcoin is currently posting trades in the mid-eighties on BTC-38.

Even more than that, popular Dogecoin has literally exploded to 139 satoshis (BTC .00000139), up from the 45 satoshis to 48 satoshis area in less than 48 hours on high trading volume. As of this writing, the latest DOGE price is 117 satoshis (BTC .00000117) on Bleutrade.

Other popular Alt coins like LTC (Litecoin), NMC (Namecoin), or PPC (Peercoin) have also significantly increased in price during the first part of the week with litecoins at 839,000 satoshis (BTC .00839000), namecoins at 112,000 satoshis (BTC .00112000), and peercoins at 120,000 satoshis (BTC .00120000), all of them up between 2% and 5.8% in just the last 24 hours.

These price increases come on the back of continuing dramatic losses on Chinese stock exchanges (Shanghai down another 11% yesterday) and increasingly bleak economic news out of China in general (a higher-than $1 trillion drain of capital out of China has been reported just on Monday). Whether or not these are fundamentals that are affecting Crypto coins as “alternative investments” for Chinese traders is not yet clear, but might turn out to be at least one driver behind latest price action.

The Alt coin price increases might also be attributed to technical factors or the overall price increase in Bitcoin seen over the last few months. We will keep watching upcoming movements in order to continue and analyse Crypto coin prices and keep CX traders informed.

Failed Attempt: Smearing “Failed” Bitcoin

There have been surprising “news” of Bitcoin’s alleged failure. Headlines of the virtual currency’s “failure”, pending “breakdown” and subsequent “expected disappearance” appeared all of a sudden and without any authentic news content last weekend.

Although Bitcoin’s price, indeed, broke down and fell from $457 to $368, it soon became clear that reports of Bitcoin’s death were greatly exaggerated and that the “news” have been fabricated by some sore loser in New York, apparently for mainstream media news outlets.

The Bitcoin community was fast to shed light on the affair and uncovered some connections around that “news item” making it clear that this was only an attempt at manipulating the price of bitcoins against dollars and other fiat currencies. The effects have been quite limited though, and Bitcoin’s price recovered back to over $400 in a matter of days. (The latest reading is around $419, as of this writing.)

Another piece of proof that Bitcoin cannot be controlled or manipulated effectively, however sinister or well thought-out — or not — any criminal conspiracy to that effect may happen to be.

Why Dogecoin Still Has a Lot Going for It in 2016

Written by Mark Mage.

Dogecoin is the original fun coin. To this day, DOGE still is one of the very few Crypto coins to have a proper and full range of accessories available, from wallet software for the widest range of operating systems, to paper wallet generators and paper wallets with great layouts, to tipping solutions, social media integration, and lots more.

DOGE prices have been what one needs to call “healthy” for many years now, something one cannot necessarily say of many coins.

What’s more, DOGE’s popularity actually makes this one of the select few coins to have something of a REAL economy behind it. DOGE is accepted by many payment processors (on top of roughly ALL Crypto coin exchanges as well).

Last year’s decision to peg Dogecoin’s mining to Litecoin may or may not be a good thing. At least that decision has not damaged DOGE or the overall popularity of Dogecoin as of this writing. If it helped achieving the hoped-for results is not widely known either, but maybe the Devs could shed some light on that.

Either way, Dogecoin continues to be one of the most successful and  popular coins which is something not even originally intended by the coin’s developers. (Dogecoin was originally intended merely a s joke.) Due to excellent underlying technology, the coin took on a life of its own. Using Dogecoin is flawless, using Dogecoin is a lot of fun, confirmations for dogecoins are blazing-fast, and no one is known to ever have had any technical issue whatsoever with dogecoins. Several spin-offs like Dogeparty, DogecoinDark and others will only help developing DOGE itself as well as the entire Crypto coin space in the future. This may be likened to what Formula I racing does for overall vehicle development in the automobile industry. There’s much more to come, and it will be “many fun” to watch this success story developing further as the age of Bitcoin, Alt coins, and the overall peer-to-peer economy continues and matures.

Latest BTC Price, as reported on Coinbase

Bitcoin Price May Be Getting Ready for Next Fundamentals

The price of Bitcoin to the US dollar and other paper currencies has been taking a breather during the last days, apparently in the wake of a technical short-term move to the upside in major stock markets.

Bitcoin and other Crypto coin prices powered ahead strongly during the first week of trading amidst uncertainties over stock prices and the worst start on record into a trading year for stocks. Particularly with stock investors in China fleeing the conventional markets and open to unconventional ones, Bitcoin and other Crypto coins were up quite significantly. Notably, this includes other Crypto coins than just Bitcoin and Litecoin like Peercoin, Dogecoin, and Earthcoin. The latter appears to grow into some kind of a darling among the Chinese and, as a result, has been moving quite in line with local developments there for the previous months and throughout several Asian stock market setbacks.

Bitcoin climbed back almost to its highs of late December 2015, but failed to jump over the current high around $463. Currently, the Bitcoin price appears to be waiting for fresh inputs from conventional markets and their fundamentals — mainly the likely negative ones that would propel the Crypto sector further into higher territory.

On this background, the remainder of the month may see some exciting developments for both conventional stock and foreign exchange markets and “alternative” investments as well.