So There Should Be Bitcoin: Review of Decred

cryptocurrency decred

A large number of projects have tried to challenge the cryptocurrency flagship, in attempts to shift the bitcoin from the honorable first place, but this has not yet been done to anyone for 10 years. There is no secret that the BTC has a number of shortcomings which its competitors are trying to solve. In the framework of this article, we will talk about another contender for the “cryptocurrency throne”, which has a number of interesting features and contradictions. So, what is a Decred (DCR) coin?

Content:
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  1. A bit of the coin’s history
  2. Basic information and advantages of the Decred project
  3. Disadvantages of the coin
  4. Conclusion

1. A bit of the coin’s history

Decred is a rather unusual altcoin. Firstly, no initial placement of coins was made for its creation, all funds were provided by the development team. And secondly, the so-called company 0, which has a direct bearing on the initial promotion of bitcoin, has put its hand to its creation. These two facts strongly highlight this project against the background of the other altcoins.

The announcement of the Decred coin took place in 2016, but its road map was kept secret from the public until the first quarter of 2017. To attract participants, the development team decided to distribute the first 5,000 tokens free of charge. Company 0 went from the opposite, they did not ask for money from investors, but rather handed them out. It is worth noting that this plan worked perfectly, and the already good excitement around this project went up with a new force.

2. Basic information about the project

Creating a new coin, the development team took all the best that was in the original blockchain of bitcoin, and also made a number of improvements:

  1. The combination of the PoS and PoW protocols, which in tandem are able to solve one of the biggest problems that Bitcoin is facing, it is decentralization. The fact is that every year the first coin increasingly depends on a narrow circle of the largest miners, the total capacity of which can soon exceed 50%.
  2. Ability to scale blocks.
  3. The low complexity of the network, which allows you to mine a coin without having a huge amount of processing power.
  4. The PoS protocol solves another very important problem, namely the hybrid system of consensus, which allows all participants to vote equally for certain innovations.

3. Disadvantages of Decred

From the information mentioned above, we can conclude that the coin is an excellent tool for investment, but like any other cryptocurrency, Decred has its shortcomings, which we cannot fail to mention:

  • Firstly, the coin has not quite a cohesive community, but a similar picture can be seen within almost any cryptocurrency;
  • Secondly, a large number of skeptics are sure that Decred is a blank that was artificially inflated and in the near future nothing except memories will remain of it.

But, for the sake of justice, it is worth noticing that such statements are not supported by any adequate arguments, so they can be considered a healthy criticism with great reserve.

4. Conclusion

Speaking of Decred cryptocurrency, we can say that the project has everything necessary to take its place in the industry. The development team makes every effort to keep up with its RoadMap. The coin is only 2 years old, but it already enters the TOP-30 in the global ranking of Coinmarketcap.

The symbiosis of the PoW and PoS protocols is not unique in the market, but in this case it can bring good results, since such an approach can solve a large number of problems and take the coin to a new level. We will not guess, but we promise to closely monitor the development of events and inform you in a timely manner.

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Tether Made It into Top-5 Cryptocurrencies

The king of stablecoins Tether (USDT) is now the 5th biggest cryptocurrency, according to the rating of CoinMarketCap. Although the coin did follow the overall downward trend, it is clearly doing better than EOS and Ethereum. The rating now looks like this:


Source: CoinMarketCap

Despite the jump in the rating, things are not particularly amazing for Tether. The coin is quickly losing holders, since its alternatives (like Gemini Dollar) have way more customer-friendlier conditions.

The crypto industry is turning upside down. Given the level of volatility, the top-5 newcomers might or might not stay there. We remind you:

Stellar Has Outrun EOS and Became the 5th Top Cryptocurrency

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Cryptocurrency Prices Today, December 11: Cryptocurrencies Are Once Again in the Red Zone

crypto prices

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) lost 1.8% over the past 24 hours. The price at the time of writing is $3425 per coin.

Cryptocurrencies are also falling in price:

Bitcoin Cash lost 3.52% over the past 24 hours and costs $99 per coin;

Ripple dropped by 1.43% and is $0.30 in value;

EOS minus 3.41%, and its price is $1.91;

Litecoin decreased by 1.50%, and its rate is $24;

Cardano lost 2.49%, and its cost is $0.029;

Stellar fell by 1.29% and costs $0.11;

IOTA added 2.85%, and its value is $0.24;

Dash lost 3.36%, and its price is $68;

Monero became cheaper at 4.77% and costs $43.

Over the past 24 hours, Ethereum lost 1.43%. The coin exchange rate is $90, according to Coin 360.

The total market capitalization is $110 billion. Bitcoin accounts for 55% of the total volume. In monetary terms, it is $60 billion.

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Top Serials Where Cryptocurrency is Mentioned

Who doesn’t like to relax on the soft couch watching a show after an intense day? The Coin Shark has made a compilation of serials about cryptocurrency, so that your rest will be complemented by benefits.

1. StartUp

This serial opens the compilation of crypto serials for a good reason. This is the first picture, that doesn’t merely deals with digital currency, but contain it in the heart of the plot.

Cybertriller about cryptocurrency, hackers, bankers and mobsters, who are combined in order to change the world. In the picture, instead of the well-known Bitcoin and Ethereum, a fictional digital coin called GenCoin is used.

TV series adviser Brian Stoeckert, expert in risk management and anti-money laundering, in the interview with CNBC said:

“People have heard about digital currency, but they really don’t understand how it operates. They just see it on the headlines,this is one way they can follow a story line and get a unique perspective on it”.

2. Mr. Robot

Sam Esmail created not just an American psychological TV show, but the whole iconic picture, which consists of 3 seasons. The serial is highly appreciated by programmers and those, who are interested in innovations.

The main character Elliot Alderson, played by an actor Rami Malek, leads a double life: by day, he is a cyber security engineer, and by night – a genius hacker. But the double life doesn’t end here!  Elliot has a split personality.

In the serial a fictional cryptocurrency Ecoin is involved, even the famous Bitcoin is mentioned. In one of the episodes, the president of E-Corp or “evil corporation” Philipp Price (the actor Christopher Michael) and a high-ranking official, whom serial fans compare to Jacob Lew, discuss the future of their cryptocurrency and Bitcoin.

“The problem here is hard cash is fading, rapidly, this is the way of the world right now and Bitcoin is spreading and it Bitcoin takes of the wheel all in a world of hell. It is unregulated,it’s already reached its transaction volume maximum and it is part plate control by Chinese miners”.

3. The Big Bang Theory

Popular comedy series, which wins our hearts with edgy sense of humor and thin sarcasm. Many believe, that the target audience of sitcom are just “techs”, since its main characters Leonard Hofstadter and Sheldon Cooper, who were played by Johnny Galecki and Jim Parsons respectively, are talented physics. Nevertheless, the humour doesn’t revolve around the science and the characters get into quite familiar situations for everyone.

The series creators were inspired by cryptocurrency so much, that in 2017 they have devoted the whole episode to it under the name “The Bitcoin Entanglement”. In the serie, the main characters recalled, that they had mined BTC and saved them on a Flash-drive, which was lost 🙂

4. The Simpsons

There is no person, who’ve never heard of The Simpsons. This yellow people are well-known around the world and head of the family Homer, voiced by Daniel Castellaneta, is often cited in comic public groups. And there is no wonder, because in this situational animated comedy you have everything you need in order to get inspired by positivity and get temporarily disconnect from worries.

The cryptocurrency in the serial is mentioned in an episode in 2013. In the serie Krusty the Clown tells, that he is broke, because “All it takes, is a bad luck with a ponies, worse luck in a Bitcoin market, heavy investment in a high and bookmark company”.

Also in the 7 serie, season 25, Bitcoin was depicted on the billboard near the school:

5. Almost Human

You must admit, that it would be weird if a science fiction TV show, events of which develop in 2048, didn’t concern Bitcoin. The creator, J. H. Wyman, wouldn’t make such mistake. True, Bitcoin in the series, is not what we are used to “not seeing”. Here, the first cryptocurrency of nowadays is presented in the form of a large flash drive.

6. The Blacklist

The cryptocurrency has not fully replaced the fiat and a certain percentage of humanity doesn’t even understand what it is. But, others are already bringing clarity to the public about the digital currency. The writers,of “The Blacklist” decided not to invent a new cryptocurrency, but to use the well-known Ripple.

We want to remind you, that recently Ripple has become the second cryptocurrency by capitalization on the market.

7. Billions

This serial is mandatory to view for those, who are involved in finance and closely linked to the economy.

Billions is a melodramatic picture with a dynamic plot. The action of episodes are develop around two largest players in the US financial world – successful businessmen Bobby Axelrod and the Prosecutor of the Southern New York District – Chuck Rhoades.  Chuck knows, that Axe’s fund is maintaining shadow activity, because of that he is constantly looking for and consequently finds compromising evidence. The cast characters – Damian Lewis and Paul Giamatti respectively.

Now Billions – is the best serial about finance. The heroes begin to use cryptocurrency in the third season.

Cryptocurrency also appears in the following series: “The Good Wife”, ”Person of Interest”, ”Blindspot”, ”iZombie”, ”Family Guy”.

We hope that you will not lose the compilation of crypto series from The Coin Shark. In order for this not to happen, share it on social network with friends. Enjoy watching! 🙂  

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Cryptocurrency Prices Today, December 10: BTC and the Rest of Cryptocurrencies Are Trying to Restore Positions

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) gained 1.7% over the past 24 hours. The price at the time of writing is $3484 per coin.

The remaining cryptocurrencies are also in the green zone:

Bitcoin Cash added 1% over the past 24 hours and costs $108 per coin;

Ripple grew by 1.47% and costs $0.31;

EOS plus 10.39%, and its price is $1.99;

Litecoin increased by 0.84%, and its rate is $25;

Cardano added 2.21%, and its value is $0.031;

Stellar gained 2.30% and costs $0.12;

IOTA grew by 2.44%, and its value is $0.24;

Dash added 4.90%, and its price is $72;

Monero became more expensive by 2.58% and costs $47.

Over the past 24 hours, Ethereum added 1.52%. The coin rate is $93, according to Coin 360.

The total market capitalization is $112 billion. Bitcoin accounts for 55% of the total volume. In monetary terms, this is $61 billion.

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What is Common Between Ripple Technology and XRP Token?

In this article, we will focus on the project, which has recently taken the second place in the cryptocurrency rating. Today we will talk about how XRP token is connected with the famous Ripple technology, which should make a revolution in banking sector in the future.

1. Briefly about Ripple cryptocurrency

The Ripple project is in no way just another copy or an improved Bitcoin`s version. The only thing that unites these two coins is the blockchain technology. Let’s clearly define what the Ripple is:

  • There is a system of gateways at the heart of the Ripple network, the performance of which is provided by hundreds of servers. Ripple works through distributed registry technology, but its architecture is completely different from the standard blockchain. The project does not have decentralization, since only those servers that have been approved by the company, are involved in transaction validation.
  • The main task of the project is to ensure a free and fast exchange of assets with minimum fees (0.00001 XRP).
  • The target audience of the project is banking institutions, which can save about $3 for each transaction with the help of Ripple technology. If we consider, that large banks spend millions of transfers per year, this leads to significant savings.

2. What positions does Ripple take now?

In mid-November 2018, the entire cryptocurrency market collapsed sharply. Many coins lost 40-50% of their value in a week. In this situation, XRP token showed relative stability and fell by about 20%. At the same time, Ethereum fell substantially in price. Because of this disbalance, Ripple took the second place in the cryptocurrency rating. For the moment of writing this article, the project`s capitalization is equal to 12.5 billion dollars. The gap from ETH is almost 3 billion dollars.

3. Future forecasts

Let’s talk briefly about prospects for this project, and what XRP hodlers can expect. For a start, it is worth noting that Ripple is a legal entity officially registered in the United States. This is an undeniable advantage for investors. But it should be understood that the Ripple technology used by banks has nothing to do with XRP token. The fact is, that Ripple has three different products (xCurrent, xRapid and xVia). Banking institutions are interested in the first one, and XRP token is directly related to the second one. Therefore, there is no direct correlation between XRP token rate growth and the introduction of Ripple technology into the banking sector.

Some experts say that banks can start using xRapid technology. If this happens, then XRP token will be really useful and needed. But if you go a little deeper into this question, it becomes clear that such a scenario is highly unlikely. In this case, banks will have to buy an intermediate XRP token additionally, which will increase the cost of transactions. Therefore, the vast majority of analysts believe that banks will not take such a step.

But there are still some reasons for token`s price increase:

  • The possibility that banks will shift to xRapid technology. It is unlikely, but still possible.
  • Increasing of customer base.
  • Regular burning of tokens (deflation).
  • Expanded applications (using Ripple technology, you can exchange absolutely any assets).
  • A general trend change on the market, may lead to another sharp rise in the token price.

4. Conclusion

The Ripple Company is a legal entity registered in the United States. It actively cooperates with the leading banks in America, but this does not concern the XRP token.

The coin definitely has a future, so it is better to keep it in cryptocurrency portfolio in a small amount (no more than 5% – 10%). Recently, XRP cryptocurrency firmly entrenched on second place in the global ranking CoinMarketCap.

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Bitcoin’s Price in 2019: Forecasts and Opinion of Experts

Attention of many people around the world is focused on the Bitcoin price. No one can say for sure, where it will go next year, or moreover in a few years. Some people believe, that the cryptocurrency industry has already reached its maximum, and all that we are waiting is a continuous decline of value. But there are experts who are sure that the maximum marks of BTC is only beginning and we are expecting for the new heights in the future. Well, let’s try to look into the matter and analyze the words of leading financial experts of the world.

1. Analysis of the current situation

As we all remember, the capitalization of the cryptocurrency market reached its historic maximum 831 billion dollars in January 2018. After this, a deep and prolonged correction has started, which partially continues until now. At the time of writing, the market capitalization is 107 billion dollars, the Bitcoin price has fallen in 6 times, and many coins have become cheaper in 10-20 times.

Source: CoinMarketCap

At first glance, everything seems to be bad and prospects are rather vague. But what if we tell you that everything is absolutely opposite and now it is the best time to invest in cryptocurrency? We are ready to back up our words with concrete facts about which very few people talk. 

  • Continuous growth of network`s hashrate. Despite the fact that the price of first cryptocurrency shows negative profitability throughout 2018, the total computing power of Bitcoin network is constantly growing. It means that miners are increasing their production capacity. And it is not about small or medium farms, since their share is negligible on the general background.

Source: https://bitinfocharts.com/

After analyzing this graph, it appears that big miners continue to invest hundreds of millions dollars in equipment. This means that major players continue to believe in further development of the industry, and therefore in future growth of the BTC rate.

  • Infrastructure development. In 2018, investor`s interest in cryptocurrency faded a little, but this did not affect infrastructure development. Every day, the number of places where you can pay with cryptocurrency is growing (paying taxes in the USA, real estate, online shopping, transport tickets, physical points of sale and more). It is a very good trend, because the more places you can pay with BTC, the more people will be involved in the digital economy.
  • The acceptance of cryptocurrency at the government level. In 2018, for the first time in 10 years of Bitcoin’s existence, they started talking about it at the international level. If earlier none of the world leaders paid enough attention to this topic, then this year at the G20 summit this issue was put on the agenda. World leaders agreed that it would be pointless to forbid cryptocurrencies and no one would do that. On the contrary, there was decided to develop an international legislative framework.
  • It’s still possible to become a “pioneer”. If you go to the website bitinfocharts.com and take a look how many Bitcoin wallets are registered currently, it is possible to see the number that does not exceed 23 million. Taking into account that more than 15 million of them are wallets, which balance does not exceed $100. The population of our planet now is about 7.6 billion people. Let’s take 40% of insolvent people (children, pensioners, people who live in a third world, etc.) – it comes out near 4.5 billion people. After comparing these numbers, it appears that there are still very few people who are really involved in the cryptocurrency industry. That means, a global large-scale acceptance of technology does not exist yet. This gives us a chance to become pioneers. After cryptocurrency becomes a commonplace for any person (like, for example, a credit card in our days), we will reap the benefits. Most likely you will hear such expression in future: “Why didn’t I buy Bitcoin in 2018?”.

2. Expert forecasts for 2019-2020

Now let’s see what famous experts say about the near future of Bitcoin, namely about its price.

Mike Novogratz, CEO of Galaxy Digital, believes that the start of Bakkt and Fidelity Digital Assets platforms will affect on entry of new investors into the cryptocurrency market. According to Mike`s opinion, now the most important point of resistance is the mark of $ 3,880. If we overcome it, then the rate may reach $ 9,000 till the new year. The next important mark is $10,000. After overcoming it, the price of BTC 2019 will go up sharply. Novogratz has no doubt that the next year rate of Bitcoin will overcome its historical maximum of 20,000 dollars.

Tom Lee, is one of the leading analysts of Wall Street. Previously, he stated that until the end of 2018, the rate of Bitcoin will overcome the mark of 25 thousand dollars. But after a few months, namely in July 2018, he slightly revised his views and named the new price of Bitcoin 2019 – 22 thousand dollars.

The forecast of John Mcafee is the most bravest of all existing on the market. He believed that by December 2020, the price of one bitcoin will be $1,000,000. Moreover, John is confident in his forecast like no one other. In his view, in the upcoming future, Bitcoin will replace dollar, which will cause huge demand.

3. Conclusion

After analyzing the current situation and the words of industry experts, we can conclude that Bitcoin and cryptocurrency in particular have a great future. Now we are only at the beginning and in the next decade, cryptocurrency will change our life. It should be noted that this article is not a call for investing in cryptocurrency. These are just our subjective thoughts about the future development of the industry. Remember, any investment entails a certain risks.

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