Coin Graf

Independent Crypto Market Reviews

Category Archive : Cryptocurrency

bitcoin and public distributed leger

Bitcoin, Altcoins, and Blockchain for Beginners Explained
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Bitcoin And Public Ledger

When people talk about the future of money, they often mention the word ” bitcoin” or “crypto” without explaining what it actually is. The most common explanation is that bitcoin is a form of digital currency that can be used on the Internet and sent through different networks to anyone in the world. However, other people have come up with their own interpretations of this technology, and while they may seem to be right, bitcoin isn’t really like any kind of traditional FIAT currency at all.

In order to understand how bitcoin works and how its value is determined by its algorithm code, you need to understand how the blockchain code algorithms actually work. Basically, every computer in the world is connected to the rest of the world by a router. This router is what connects your computer to all of the other computers on the Internet. Every transaction you make on the Internet goes from your computer to the router, and then to the payment network like PayPal and WorldPay where it is converted into a real currency. There are many different ways to make transactions, but the way that bitcoin and other cryptocurrencies work makes it unique.

Transactions are recorded in the Distributed Ledger Protocol, which is a public database that keeps track of every transaction that happens in the system. Each computer in the ecosystem is linked to the rest of the computers in its circle, and each computer that is part of the circle must update the ledger in order to keep track of the transactions happening in the system. Because of the nature of the ledger, the transactions are grouped together into what we call the blockchain. The blocks of transactions are made up of just one simple file, called the block header. Each transaction is put into its own block and the chain of these blocks forms a beautiful pattern called the blockchain.

bitcoin and public distributed leger

What makes the blockchain work is that there are certain rules that every transaction must follow. One of those rules is called the proof of work. The proof of work is what dictates the difficulty of mining for the bitcoins. The difficulty of mining is what determines how many bitcoins will be generated during a certain time frame. It is a mathematical formula used to unlock the bitcoin wallet when you provide the correct key. The bitcoin network works with about twelve different hashrates, which determine the difficulty of generating new blocks.

Because of the nature of the blockchain, there is an inherent risk of someone creating counterfeit coins because they could fork off part of the existing chain. Because of this, the supply and demand of bitcoins is determined by the market, and not by some mysterious algorithm. In this sense, bitcoin is a digital currency based on a public ledger that can be followed by anyone in order to understand the current value and trends of the crypto. There are no physical coins, rather you use your computer and coding to mine digital money.

This transaction model has been adopted by several different altcoin solutions including the Dash coin and the Dogecoin. It is important to remember that all digital currency is worthless when there is no one to recognize that digital currency as such. This lack of recognition can cause problems for the ecosystem around the ecosystem and causes people to lose faith in the existing infrastructure.

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Advantages and disadvantages of trading bots

Advantages And Disadvantages Of Crypto Bot Trading
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What Are Crypto Trading Bots?

Cryptocurrency trading platforms enable users to enter currency market from any part of the world at any time. All transactions made in the market are done in peer to peer (P2P) protocols. The need for experienced traders to make profitable decisions has increased the usage of the trading platforms to a great extent.

Crypto Bot trading strategies are designed to generate consistent profits for users that are always on the move. A new user or a novice in the field of crypto can use free trading platforms to learn about the basics of the market and the required strategies to be adopted for trading cryptocurrencies. As the user gains experience, he can try out advanced strategies and invest in more high-quality trading software. Most traders make their investment decisions based on the analysis of the market patterns and trends, the way the market behaves and the strategies to be adopted.

what are cryptocurrency trading bots

It is very easy to become a crypto trader, just sign up with the bot trading platform and connect it to your exchange where you hold your funds. Once you have it, start using it in the demo version to learn how it works. It is necessary to choose a profitable and stable on the rise cryptocurrency in order to be successful in this type of trading strategy. It is a good idea to buy several cryptocurrencies, in order to have a selection of those that perform well and those that don’t in order to have steady income, with good profit margin. You will not be able to generate much money if the value of the cryptocurrency drops significantly during the long period of trading.

This kind of strategy requires a good internet connection, an effective software program and reliable servers. Since the market is highly volatile, some traders have reported that they lost some of their investments because of problems with their internet connections. Some experienced traders have stated that there were cases when their servers went down during the process. If you do not have any experience with this type of software program, you should not participate in the Forex market, without knowing exactly what you are doing. You will not be able to generate enough money to support yourself and your family.

Another disadvantage of the Crypto bot strategy is that the trading robots cannot trade at the times when major news events occur. Many investors lose money because of the fact that they try to control the trading or pull out early. It is therefore suggested to choose the good strategy that works the best, and works for others as well. You can still participate in the Crypto market by following other traders’ strategies and trading on their behalf.

The good news is that there are solutions for the issues mentioned above. There are free programs that you can download, which can track the market’s fluctuations, so that you will know how to set your parameters according to your needs. You can also make use of crypto market prediction software programs that can give you tips on the coins and strategies when certain coins are expected to go up or down. You can also try a combination of the two strategies, the first while using the free app and the second using the paid app. With the help of these apps and a good understanding of the Crypto bot trading strategy, you can increase your chances of generating maximum profits from your trades.

Best Crypto bots trading platform

Get the Best Training on How to Do the Crypto Bot Training

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cover protocol token shut down

Ruler & Cover Protocol Team Has Decided to End the Project
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It’s been announced that the Cover Protocol token will no longer be supported after the sudden changes and decision to leave the project coming from core development team.

Use Interface will no longer be supported and will remain permanently shut down.

All Cover Protocol token holders are strongly urged to withdraw their funds as soon as possible due to the UI shutdown.

The sudden announcement came out on 5th of September 2021 by DefiTed, read more at Medium Cover Protocol official profile.

 

cover protocol token shut down

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Streamr new data coin migration

Streamr – Migration of Old xDATA to New DATA Token
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It’s been officially announced that the team behind the Streamr DATA coin based on Ethereum blockchain are expanding and need to upgrade the code behind their DATA token.

Therefore all DATA token holders are prompted to migrate their tokens to the new version of the token as soon as possible.

It can be done so via exchange or if holding the coins inside the wallet then we can use MetaMask to do the job.

It’s not recommended to transfer the tokens from wallet to exchange because of security reasons.

If the coins are located on the exchange already then the migration will happen automatically, but checking with the exchange support would be the great idea to know for sure.

How to Migrate the DATA Tokens Using MetaMask

  1. Download and install the MetaMask Chrome extension app.
  2. Open the wallet where your DATA coins are stored and connect to MetaMask using your unique wallet key phrase.
  3. Go to Streamr official website and watch the short video explaining the migration process and follow the instructions.

 

Streamr new data coin migration

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what is NFT

NFT Guide – How Do Non-Fungible Tokens Work?
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What is NFT?

A non-fungible token is a physical unit of information stored in a computer database, known as the blockchain, which certifies that a particular digital item is absolutely unique and so not interchangeable with another. NFTs can be employed to represent things like videos, photos, audio, and various kinds of other digital content. Unlike traditional coins or currency that come in different sizes and are generally collected over time as individuals pass them down from generation to generation, the tokens that are stored within the NFT network cannot be changed. Every NFT is absolutely unique, as each transaction performed with a NFT is an independent act.

In order for a transaction to be conducted using a non-fungible token, there must exist some kind of verifiable proof that the transaction is legal. Verifiable proofs of ownership are used in the traditional financial markets to ensure that the money supply stays stable by preventing the supply from increasing in response to demand. NFTs have a few advantages over these traditional monetary systems in that they do not require the same type of storage facility to validate ownership; instead the network utilizes proofs of association, which serve as proof that a particular entity owns the asset being tokenized. Because there is no storage facility for the non-fungible token, all transactions are recorded on the Blockchain, without needing to store anything further, thereby eliminating the storage issues associated with traditional money.

Non-Fungible tokens

Because of their potential to save money, the use of NFTs is predicted to see a massive rise in popularity throughout the coming decade. The low cost of NFTs makes them a great choice for many businesses, since a single NFT does not have to compete with thousands of other NFTs for the attention of investors, since they are always valid and have no expiration date. Also, because there is no storage or maintenance costs associated with tokenized assets, tokenized funds are able to provide a level of liquidity that is currently not available to traditional funds. By allowing anyone to create an unlimited number of tokens, investors have the ability to diversify their investments across multiple asset classes. This feature also enables them to utilize NFTs by creating a hybrid form of investment portfolio. Even if one day an investor decides to liquidate his or her holdings, the NFTs still have a value, since the value of the tokens is not directly tied to the value of the underlying shares of stock.

There are several different types of fees that can be attached to an NFT. The creator of the NFT typically pays fees to the creators of tokens, as well as a per-transaction fee to the NFT broker. However, the NFT creator does not have to pay taxes on the revenue that the NFT generates, and this has created a stir in the taxidermy community. The IRS has issued guidelines stating that NFTs will not be considered investment income, but the creator may be able to deduct expenses related to advertising and marketing costs incurred while creating the NFT.

NFTs that are based on the blockchain technology that have had an active community of buyers and sellers for quite some time. This community helps to provide support for NFTs by ensuring that the project meets certain goals. One of the main goals of the project is to increase the diversity of the ownership structure in the ethereal network. If more projects follow the model of ethereal’s creators, then investors will have greater confidence in the ethereal network and its tokens.

As the NFT continues to gain in popularity, more projects will follow. In addition to increasing diversity across asset classes, more projects will become eContracts, which are entirely digital and do not need any storage or maintenance costs. This type of investment structure allows investors to manage digital assets without worrying about storage and maintenance costs. By further reducing the risk associated with non-fungible tokens, NFTs will continue to rise in value and become more mainstream.

NFT Review

NFT Description by Wikipedia

An NFT is a unit of data stored on a digital ledger, called a blockchain, which can be sold and traded. The NFT can be associated with a particular digital or physical asset (such as a file or a physical object) and a license to use the asset for a specified purpose. NFTs (and the associated license to use, copy or display the underlying asset) can be traded and sold on digital markets.

NFTs function like cryptographic tokens, but, unlike cryptocurrencies like Bitcoin, NFTs are not mutually interchangeable, so not fungible. While all bitcoins are equal, each NFT may represent a different underlying asset and thus have a different value. NFTs are created when blockchains string records of cryptographic hash, a set of characters identifying a set of data, onto previous records therefore creating a chain of identifiable data blocks. This cryptographic transaction process ensures the authentication of each digital file by providing a digital signature that is used to track NFT ownership. However, data links that point to details like where the art is stored can die.

source: https://en.wikipedia.org/wiki/Non-fungible_token

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Massive Money Wealth Shift

Massive Wealth-Shift Starting with US Dollar to Cryptocurrency
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wealth

I am not sure how many people understand what is actually happening in Today’s Economy concerning US Dollar and other global FIAT money currencies.

This massive shift is coming from the office of the comptroller of the currency OCC, which is the main bank and currency regulator in the US.

It’s concerning the letter that has been sent out to all major US banks including Wells Fargo, Goldman Sachs, Bank of America, and many many more, saying and basically giving the ‘Green Light’ to start including the cryptocurrency in customers’ investment portfolios.

I cannot stress enough how huge this is.

Officially it’s not being translated to the public yet for many reasons, among one of them being the constant demonizing the Bitcoin and other cryptocurrencies calling it a scam, fake and worthless money used only by criminals, etc.

bitcoin

The major media all around the globe were spreading the lies and misinformation about the cryptocurrency saying things like that “It has no real value” that “It’s not the future of money”, or even that “It’s a Pyramid scheme.”

Basically giving the general public many reasons “Why you should not care about Bitcoin and crypto” while the big whales were buying in.

And since all these lies were spreading over all of the media, Bitcoin grew more than 13,000% since 2016 when a few crypto pioneers were recommending it. So now you should ask yourself, Who you should listen to.

And it’s not just US and major global banks, but every huge corporation and institution is starting to including cryptocurrencies as the means of the purchase value and legitimate asset.

And that is precisely why the massive amount of money will flow into these assets in the next upcoming months.

All of this is happening as I write this post and one thing is certain.

Governments and huge institutions do not want you to know this too early because they are those who want to profit from this massive wealth shift the most.

The question now is, will they ever tell you to move your FIAT money to crypto assets?

And the answer is, of course, they will, but before they do, they want to be the first to profit the most. As we know, who comes first benefits the most by getting rich on the back of masses and mass adoption, basically all the people living on this planet.

cryptocurrencies

So, if you are reading this article, what I would HIGHLY recommend, is to be smart and move the percentage of your wealth to crypto-assets like Bitcoin, Ethereum, Ripple, Dogecoin, or any other major players in the cryptocurrency space.

I am not trying to take advantage of anyone by creating a false scarcity, but rather genuinely warn you and get you prepared.

If you still don’t believe my claims, then give yourself an answer to a simple question.

What do you think that is going to happen after governments printing trillions of FIAT money not backed by the treasury of gold to stimulate the economy?

You bet, the huge inflation and currency devaluation, and it’s not going to be near to what we’ve seen in the past but much much worse.

Once the sh*t hits the fan, you will be forced to move all your money to crypto-assets but it’s going to be too late for you to make huge gains or even any profit gains whatsoever.

The train will be long gone.

So, since 2016 when all major bankers and CEOs were calling Bitcoin a scam and fraud are all buying right now, banks like JP Morgan have already created their own cryptocurrency called the JPM Coin.

400 million dollars are pouring into crypto from these institutions every week as of right now.

If this doesn’t lift you from a chair with an aha moment, then I don’t what else would.

money dollars

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Pi

πPi Coin – New & First Cryptocurrency To Mine For Free
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Pi/π Network: π Is the First and Only Cryptocurrency to Mine for Free on Mobile Phones!

Pi new cryptocurrency to mine on mobile phone

The first and only, Pi is a new cryptocurrency developed by Stanford PhDs, and it’s already reached over 21 Million Pioneers users who actively mine the new cryptocurrency π on their smartphones.

π Pi Mining is free, it doesn’t cost anything except less than a minute of your time each day.

It doesn’t compromise or consume the phone resources, neither drain the battery.

The Pi App can be downloaded from Google Playstore and installed on your smartphone or iPhone within seconds.

To create the account it will require an invitation code, use the invitation code – mirolpt

You will also receive 1π as a welcome bonus and you start mining right away at the speed of 0.10π/hour.

It’s really easy and simple to start mining the π Pi and if it doesn’t cost you any time and money why not start today while it’s still possible?

Because there is a catch.

In a few months, easy mining on your mobile phone like this probably won’t be possible. At the moment the entire network has over 21 million active users, but as the π Pi Network saturates and grows and reaches 100 million active users, the ability to mine will diminish down to 0, which could happen anytime by the end of the year.

The White Paper of the Pi project is available to read on the official website or after successful installation inside the π Pi app.

 

download pi app

(Use invitation code – mirolpt)

Pi Network Mobile App to mine cryptocurrency

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