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.

Bitcoin in 2015: Crypto Coin Year in Review

The year 2015 has been full of events for Bitcoin and the overall development of Crypto coins.

With a lackluster start which is widely seen as the aftermath of Bitcoin’s price peak in late 2013 and subsequent correction and price consolidation throughout all of 2014 and parts of 2015, the latter part of the year looked a lot more promising.

After initial price slumps and a suspected hard floor around the $180 level, the actual stability of that level has confirmed that Bitcoin’s price is not likely to fall without limitation but due to millions of participants and increasing use worldwide has matured to a degree where there will always be demand for the Crypto currency to support prices — first signs of a true economy having developed around Bitcoin (and other Crypto coins as well). The holding of the $180 level helped return confidence in Bitcoin as well as leading Alt coins and led prices to a steady recovery.

Crypto-related events also supported the turnaround which — due to its lower volatility than in the run-up to 2013 highs and more stable overall appearance — now appears to be quite solid. (Bitcoin Financial reported on that development in late summer and again after the more decisive increases in November.)

The use of Bitcoin by Virgin founder Richard Branson to pay for a new Virgin Atlantic aircraft was just one of the more exciting developments in the Bitcoin sphere. It helped demonstrating Bitcoin’s overall characteristic as an innovative and also economical way of doing serious business — Branson’s airline is said to have saved millions in fees on just that one large transaction using Bitcoin instead of costly and outdated SWIFT services.

In other news, large media outlets reported that Europeans sought shelter in both gold and bitcoins. The latter would add an interesting angle to the overall Bitcoin and Crypto coin market.

While precious metals continue to be the ultimate safe haven and only gold and silver are proven tools for storing value, it may or not be true that bitcoins and other digital currencies could be utilised in that process. It is generally recommended to rather use bitcoins for transactions and gold and silver for long-term storage of value but Bitcoin’s transactional advantages might even be part of such a strict Asset Protection strategy for the in-and-out movements of safe-haven investments (or in fact, many other asset classes as well).

Finally, the year 2015 saw further initiatives to promote the acceptance of bitcoins for regular point-of-sale use. The Island of Jersey is one of the better examples of a campaign to understand and get started in both Bitcoin and other Crypto currencies.

Bitcoin price developments throughout late summer and autumn 2015 suggest that the longer-term outlook for this and other established Crypto currencies may be a solid and consolidated increase toward the next price target, the 50% level of the long term price movement that began with the $1147 peak of 2013.

Whether or not necessary short-term corrections will appear to be painful greatly depends on overall economic developments outside the actual Crypto coin sphere. While violent downward moves are always reported as a bad thing by the mainstream media and also abused by incompetent politicians demanding price controls as an “answer”, it tends to be forgotten that this is not necessarily correct. Any price movement, whether up or down, provides trading opportunities. Media stupidity and political propaganda will not change that. Less dramatic price action would be beneficial to Bitcoin’s mass appearance — and hence wider acceptance and use — and might speed up this ingenious invention’s success though as it saves both time and energy educating politicians, “experts” in the media field, or the readers and watchers of mis-information to the obvious: that free markets always are balancing themselves and that Crpyto coins are now an integral part of free markets beyond government control.

That said, early 2016 is likely to see relatively slow Bitcoin price increases, if current short-term reversals stay within their expected bands. So far, Bitcoin’s price seems to have “played by the rules” (not of governments but technical analysis and free markets, that is). December has seen textbook price movements in Bitcoin and other Crypto coins and appears to confirm the view that Bitcoin has significantly increased its user base throughout 2015. As most any foreign exchange trader knows, that in itself would point to less violent price movements and possibly an overall subsiding of Bitcoin’s infamous volatility of the early days.

PPC Peercoin Posting Substantial Price Gains

The price of Peercoin, the first environmentally-friendly proof-of-stake Crypto currency, has increased substantially  during the second half of December.

Against the US dollar, PPC is currently trading at 0.4807 after posting earlier highs around $0.5230 on Dec 18. (All prices as quoted on Cryptsy.)

Peercoin’s price recovery is as substantial as that of Bitcoin itself with peercoins having had all-time lows around just 21 US cents.

Peercoin continues to be an alternative to Bitcoin itself, being the first coin to solve Bitcoin’s notorious problem of wasting electricity for Bitcoin mining as well as not being susceptible to Bitcoin’s infamous weakness against “51% attacks”. After PPC, there have been other proof-of-stake Crypto coins repaicing power-intensive mining with much more eco-friendly “minting”, the most popular and successful of which is Mintcoin (MINT).

While most Altcoin prices can fluctuate heavily and can form patterns of their own against the one of Bitcoin, the recent upward move of Peercoin appears to be related more to Bitcoin’s overall price increase against the dollar and Crypto coins, in general, regaining more traction as acceptance rates increase. It will be interesting to watch these prices into early 2016.

Bitcoin Price Appears Set to Test $650 Level

The price of bitcoins in U. S. dollars has been increasing steadily and solidly in the run-up to Christmas. While prices never move linear in only one direction and price fluctuations, or prices “taking a breather” are a possible and — indeed — normal to happen, the recent move of Bitcoin may well be part of a larger upward move to roughly the $650 to $660 area.

After its record highs around $1147 in late 2013 and subsequent downward period, the Bitcoin price is expected to post a half-way or 50-percent-level mark as its next bigger target. That mark would be around $658 and appears to be the medium-term target at the time of this writing.

Whether this will be a smooth ride or a rough one remains to be seen and depends not only on technical indicators but also on fundamentals outside the Crypto coin world that could trigger the next moves and finer-grained steps along the way.

Bitcoin Price Picking Up More Solidly

The price of Bitcoin in US dollars has been picking up significantly again. The  market price of the “original Crypto currency” has been hovering for months but was stable around  $200, always clear of support around $180.

During the last weeks, bitcoins have been solidly advancing from $280 to more than $328 over the weekend. Weekends seem to be some kind of “high season” for amateur Crypto traders who appear to spend their free time glued to their screens and giving many Crypto currencies — beyond just Bitcoin itself — significant movements during these times.

Not that it mattered much for the overall idea of Crypto currency — but the price of Bitcoin is picking up very nicely again (and this time also quite solidly, without that infamous “volatility” the mass-media seems to “know” about BTC). With extra weekend-activity gone now, the latest reading for Bitcoin at Coinbase is still above $320.

Europe a De-Facto Bitcoin Haven

Europe continues to be a hotspot for Bitcoin opportunity. Despite all those “warnings” and misrepresentations by a totally clueless EBA, European countries themselves continue to be  mostly Bitcoin-friendly. Many have established rules the Bitcoin industry can reasonably rely on. Most notably, Germany, France, Switzerland, Austria, Denmark, the Netherlands as well as the three Baltic states have developed into “very Bitcoin-friendly” places.

On top, if a European country happens to be less than what you expected in Bitcoin-friendliness, then in comes that general rule of freedom to do business in all of the EEA (European Economic Area, which includes not only the EEC or EU member countries but also the additional EFTA countries plus Switzerland), and an affected Bitcoin business would be able to re-locate to another member country offering “greener pastures”.

Still, this business and innovation-friendly situation should not be taken for granted either: it is something to be cherished and to be defended against possible future deterioration. Particularly during the early Bitcoin years its significance is not to be under-estimated, for it allows Bitcoin “room to breathe” and develop largely unhampered by needless bureaucrat intervention.

Why You Might Not Want to Buy from Amazon Marketplace

Amazon.com has been all the rage for many years now. Notorious for burning through investor money and venture capital for a period of over ten years, Amazon.com have broken into most every market for consumer products there is, and have increasingly established themselves as The Number One in online shopping.

That this has been achieved largely by killing off everything that even remotely looks like “competition” to the still growing giant — and at a high cost to Main Street boutiques, employment, and small business in general — is not meant to be a matter of concern here. Though regrettable, it could also be argued that this is “a normal development” in the market (at least it has been done without government money and subsidies) and it has a limited amount of advantages for the average buyer too: convenience of shopping from home and saving the time and gas expense for a trip to the local mall or garden centre. Killing off those only slightly-frequented but still area-consuming unsuccessful branches of certain big-box stores may also seem advantageous both from an efficiency and environmental point of view. Let us some day re-forest these extra acres and make our urban, suburbian and even rural  surroundings a bit greener again!

Still, there are huge drawbacks even for the presumably-prospering buyer when it comes to using Amazon.com.

In an attempt to grow and grow again their business even further, Amazon.com have discovered third-party sales and opening their platform to small and large outsiders. While this is a good thing from a selection point of view and combines lots of eBay-style attractions with hassle-free Amazon.com fulfillment, it also means eBay-style dishonesty and scammers have long entered the magnificent and apparently controlled Amazon.com environment.

Just as eBay is notorious for being susceptible to offering stolen goods or scrap of no value hyped up and presented as the latest must-have at some “bargain price”, Amazon.com’s marketplace is heavily contaminated with forgeries, low-quality copies and pirated brand items of all sorts. Amazon.com cannot, or will not, do anything to effectively police this situation in order to protect their unsuspecting customers. This is particularly despicable when it comes to food, nutritional, and general health items that can pose significant dangers of bodily harm to victims of these less-than-wonderful “marketplace” sellers. A current case is pending in the courts where certified organic foods meticulously checked for heavy-metal contamination and other toxins and then sold under a trusted label (if authentic), have been commercially re-produced by a New Jersey pirate company and sold under a forged version of that widely-respected label. The pirated items are diluted down using cheap glucose syrup fillers instead of the wild berries intended and paid for by the customer; or they are made of cheap imported raw materials from China, highly contaminated with cadmium and other heavy metals, instead of the laboratory-checked ones the buyer is willing to pay extra for.

As Amazon.com, obviously keen to not cut into their commission-generating business model, contend that these forged items are not illegal by themselves (because there are, curiously, no established USDA or FDA limits for heavy metals in those particular types of food), it is apparent that they don’t care about item quality the way a good merchant should. There are also  other examples where it has become equally clear that Amazon.com do not care about what you and I might take for granted, but only look at their self-interest and revenue stream instead.

All this means that Amazon.com should not even be considered for sourcing certain kinds of goods, particularly not “important” ones or something you are going to put in your body, and that they might well be in the process of ruining their own revenue model after all, albeit in a different way.

It still pays to not blindly click through Amazon.com for those “other items” after ordering that book or computer parts, but use a trusted and proven smaller vendor instead.