RBI directive proved opportune for a lot of traders who used dip in bitcoin and other virtual currency prices to their advantage by buying even more and holding it in their private wallets rather
Pantera Capital Management, a hedge fund with a focus on cryptocurrencies, said in their April newsletter that Bitcoin’s (BTC) price of $6,500 was probably the low for the cryptocurrency, and that it was “highly likely” BTC’s price will reach above $20,000 this year, the Wall Street Journal(WSJ) reported Friday, April 13.
Ethereum co-creator Steven Nerayoff says the cryptocurrency’s value could triple in 2018. Ethereum co-creator Steven Nerayoff said businesses in a wide variety of industries are starting to take note of what value ethereum’s protocol could offer them. Nerayoff attributes increased usage to ethereum’s ability to process transactions more quickly and cheaply than its rival. Nerayoff said increasing interest in cryptocurrency will stimulate value for ethereum in 2018, regardless of whether it overtakes bitcoin.
With over 1,300 cryptocurrencies currently on the market, it seems that a new digital currency is launching almost daily with its own purpose, USP and objective. However, for an industry that is seemingly growing, the marketplace is not without its critics.
It is rather surprising to see most cryptocurrencies in the green over the past 24 hours. While this momentum is more than welcome, it still remains to be seen how long all of this will last. If the previous weeks are any indication, things will turn around quickly. For now, the Ethereum price is one of the stronger gainers on the market, pushing its value back to $416.6.
One particular aspect of cryptocurrency which people love to talk about is mining. The process of validating transactions and minting new coins has boggled the minds of enthusiasts for some time now. As such, it’s always interesting to keep an eye on mining trends. Things are looking pretty solid for Ethereum in this regard, although there are some minor concerns as well.
Cryptocurrency goes through waves of innovation, followed by copycats jumping onto the digital bandwagon. New takes on cryptocurrency are few and far between. Enter Kred.
Innovation favors the prepared. Ƙred is taking cryptocurrency to a whole new level by personalizing and gamifing their Coins.
Many blockchain startups often begin with a coin functionality as the basis of their offering, then add on a functional premise to create value for the coin. This often leads to Coins failing or never taking off, as projects may lose steam when a Coin has no proven utility or function behind it.
With the Ƙred community influence and their powerful engagement via their members, Ƙred is a proven utility with over 6 years to back it up.
They know what works and have created a new cryptocurrency called Crypto.Ƙred (CƘr) that will dramatically expand cryptocurrency awareness to a wider and more tangible buying market.
As the saying goes “The more you give, the more you will receive”, Ƙred Coins are built on the concept of giving, sharing, and connecting with others. It’s truly amazing and different.
One of the most innovative features with Ƙred Coins, is that you can personalize and “stand out” by creating your very own Coins with unique images, animated GIFs or even Videos (up to 500 identical Coins in a batch).
That means you can have your very own CƘr Coin sent to your friends, or customers with specific text, colors, and your media of choice on it.
Once your newly minted Kred Coin is sent to a new user, it’s tracked through Ƙred’s unique social “Circulation” trail. This allows those who possess a specific Coin to comment, and connect with you (as the issuer) and every user the Coin is exchanged with.
The unique gamifying function allows users to create strong social connections with those who received the Coin.
Each Kred Coin includes the name of the coin batch (such as “Digital Marketing Award”), a color, media on the front and back, the original Coin issuer’s name AND a link back to their .Ƙred profile. Think of all the ways you can use this.
The Coins also show how many times it’s been shared between unique coin holders.
These connections allow people to talk to each other, share comments, and increase the social capital of that Coins, not to be confused with monetary value.
Ƙred Coins can be sent to anyone using a .Ƙred domain, mobile number or email address — You’re not limited to sending Coins to someone’s wallet address. This opens up the market at least 10 fold.
Send Coins to phone numbers, email addresses or directly to another user’s .Kred profile
The more you share, the more you can connect with others, and grow your network of like-minded people (or potential customers).
Build up your Tribe with Cryptocurrency Coins from Kred
Ƙred Coins were created to be noticed, appreciated, shared and collected. Crypto.Ƙred gamifies and personalizes reciprocity while making strong targeted connections in a virtual landscape.
People are gifted items within the Ƙred Community with social actions, resulting in others responding in the same manner. This will “gamify” the networking process by making it inclusive and fun.
With Ƙred Coins, you have the unique ability to develop a coin that can become a special edition, a Sport coin to commemorate an event or even just a thank you to your friends. It’s up to you!
I’ve thought about how I could use these Coins to help promote my business supporting ICOs for their digital marketing and PR efforts.I started out by creating an ”ICO Launched!” Coin which I’ll distribute to my clients to commemorate their launch day.
The idea is that their friends in the crypto space see the Coins and associate Krohn Media with ICO Digital Marketing.
The act of buying or “gifting” virtual goods is not new. Ever since the beginning of this century, there has been a growing market for virtual goods, including virtual art that has sold for $1 Million dollars and virtual “cryptokitties” that pull in large sums.
Merging virtual digital goods with a cryptocurrency, as Ƙred has done, is fresh, innovative and the next step in the evolution of Crypto.
You can purchase Coins for what they call the “Market Price” via the Marketplace (buy it now or auction), by trading or earning Coins and by picking up special edition Coins — Try to create or get hold of Coins that you think others might pay more for
As a trader and advisor to many ICOs myself, I know the first thing other traders will ask is how they can profit. Here’s what I’ve found so far:
- You can purchase Coins for what they call the “Market Price” via the Marketplace (buy it now or auction), by trading or earning Coins and by picking up special edition Coins — Try to create or get hold of Coins that you think others might pay more for.
- Collectible Coins can be redeemed for CƘr via 2 methods:
a) Sale or auction in Crypto.Ƙred Marketplace – Other users can buy your Coins from you for CƘr based on a listed sale price or the current price in a Dutch Auction.
b) Surrender your Coins back to Crypto.Ƙred to extract the CƘr – If you have a Coin you want to cash in quick or that just won’t sell, Crypto.Ƙred has a Surrender feature where you can sell the Coin back to them in exchange for it’s minted value in CƘr minus a 10% fee.
3.There IS a way to sell CƘr on an exchange
a) Use the Export feature to send your CƘr to an Ethereum compatible wallet
b) Find an exchange that accepts CƘr (Note that I haven’t found one yet as of writing but they are still in their pre-release “Early Access” period — I expect to see CƘr on exchanges soon)
c) Cash in for approx $1USD per CƘr — CƘr are not likely to jump too much in value on external markets because Crypto.Ƙred are making them continuously available for $1USD each (for now).
The “Market Price” of each Coin is based on two key factors
- The Coin’s “social value”, including who created the Coin, its likes, comments, circulation trail and connections made. The more people who engage with that Coin, the better the market value.
- The “media value” stems from what is used on the front and back of the Coin, as well as the Coin name.
Currently, Ƙred Coins can be minted and “dressed up” between 0.01 CƘr and 100CƘr. To put that into perspective, with 1 CƘr valued at $1 USD, you can effectively create a crypto collectible for a penny.
CƘr can be bought using USD, BTC, DOGE or ETH within the platform. CƘr is based on the ERC20 protocol and are compatible with both the Stellar and Ethereum Blockchains.
A very smart feature from the Crypto.Ƙred platform is the creation of a deep API that is designed to make it easy for developers and partners to build apps that push Ƙred Coins to places not imagined yet.
There are currently a number of applications that have been built that are forward thinking by themselves, let alone with the power of Ƙred Coins behind it.
With virtual good consumption on the rise, sharing and engaging is abundant in our society, Ƙred Coins fill a void that exists, while bridging the gap between Crypto markets and social sharing.
This is all backed by years of proven community engagement which demonstrates that sharing and connecting is the key to building a strong network.
Gratitude and reciprocity, with the power of blockchain, is the new standard of cryptocurrency.
A big “thank you” goes out to Crypto.Kred
Full disclosure.. I’ve used Kred and Empire.Kred for years and am trying to get a jump on this platform .
“I think there will always be need of trusted voices in the investment community, but what the ICO markets are showing is that the world has incredible demand for future-looking projects!” – Adam Draper
These days ICOs are all the rage. Despite tougher regulations from the SEC and greater disclosure requirements, many business organizations continue to hold their own ICOs.
Most of them do it to launch their specific brand of crypto tokens that can be used and traded over the company’s blockchain platform.
Reports from the crypto world show that more than $4 billion has been raised through ICOs held in the first three months of 2018 alone. We believe that this is only the beginning of a trend as more and more businesses continue to raise their own digital tokens.
Digital Tokens Are Here To Stay
Blockchain based crypto tokens make life easier for everyone. These tokens can be traded over an openly accessible P2P network. The only thing you need to get a token is an internet connection and an e-wallet assigned to a specific IP address.
Holders of a token can trade it to anyone around the world in a matter of minutes. It is very secure and cannot be stolen as long as you follow basic guidelines on keeping your tokens secure.
The blockchain also makes it possible to keep a complete record of transactions that have ever taken place on a network.
It’s no surprise that the blockchain platform is considered the most complete and accurate record of digital transactions that we can create, given our current technology level.
Alt Coins and How To Promote An ICO on Reddit
Just as Bitcoin is the most popular cryptocurrency created on the blockchain protocol, Reddit is undeniably the most popular messaging board on the planet.
Fashionably called the “front page of internet”, the Reddit website is used by hundreds of millions of users from around the world every day.
It thus becomes crucial to know how to promote an ICO on Reddit.
With a very active community of posters, it is the perfect messaging board to spread word about new ideas and businesses. The site is subdivided into more than a hundred thousand message boards called subreddits.
One of the most popular subreddits on the website is “altcoin discussions”.
It is a messaging boarding dedicated to cryptocurrencies other than Bitcoin. It is also the perfect place to announce new crypto coins through the announcement thread.
The announcement thread allows new ICOs to introduce their tokens to the world. A good announcement thread includes an easy to understand summary of the token, its purpose as well as the support network that is backing the coin.
Your token’s summary should also include details about the maximum coin limit and an introduction to the development team behind the idea.
If any of the developers have had any previous experience with cryptocurrencies, it should be noted and advertised.
This is an important factor as a new token with an experienced team of developers behind it is likely to do well in generating investor interest. All of this becomes relevant to promote an ICO on Reddit.
Creating a Subreddit for Your Token
In order to have a successful sale it is very important to promote the token well in advance of the ICO.
Perhaps the best thing you can do to promote your ICO on Reddit is to create a messaging board based on your token.
The messaging board works as a company prospectus and allows the developers and backers to communicate all relevant news regarding the token to future investors.
An active messaging board with regular updates on coin development will help build investor confidence and support for the coin.
Some of the users may also spread the word around to other alt coin communities. Reddit uses a voting-based algorithm for advertising and topics with many upvotes tend to get displayed higher on search results for users.
All of this becomes crucial to promote an ICO on Reddit.
Engage with Your Reddit Audience
One way to attract potential investors to your token is to invite questions from your audience. Your token’s progress and development reports may keep your supporters on board.
However, what really turns fringe supporters into core believers is when they are actually engaged with your development team.
Encourage your supporters to find out more about your project by asking question about the token. Make sure that you answer these questions in a timely manner. This will show the supporters how serious you are about your project.
Take user feedback and suggestions about your token into consideration. The crypto community on Reddit is quite knowledgeable and many of them can offer great advice about how to improve your token.
Criticisms should be taken with a positive attitude. If people are going to invest their hard-earned money into your token, your business needs to show them what makes your project unique and better than others.
It is advised that you do so without getting angry about skepticism.
Keep all of this in mind when you promote an ICO on Reddit.
Buying Upvotes and Advertising
Reddit, much like any other social media platform, is a business. The company allows purchasing upvotes for your subreddit.
It also allows positive responses to be displayer higher than negative comments for your token. Some companies have also claimed that they buy moderators who can swing the position of negative and positive posts.
While we don’t advise going this route, the option is certainly available if you are really keen to promote an ICO on Reddit.
“[Bitcoin] is a remarkable cryptographic achievement… The ability to create something which is not duplicable in the digital world has enormous value…Lot’s of people will build businesses on top of that.” – Eric Schmidt, Executive Chairman of Google.
By now, almost everyone has heard of cryptocurrency like Bitcoin and Ethereum. Most people, however, may not know how the Blockchain protocol generates new coins nor how the network operates relative to mining coins.
Mining coins and running the platform is the job of miners, aka the nodeoperators.
Currencies like Bitcoin run on a Blockchain operated by independent mining operators from around the world. When a person with Bitcoins in their wallet wants to make a transaction, they send a query to the miners to authenticate the transfer.
Miners check the amount of coins on the IP address, as noted in the ledger. If enough coins are available, the system tries to resolve the query. The most efficient method is calculating the hash rate.
The same calculation simultaneously takes place over hundreds of other connected nodes.
Cryptocurrency protocols are designed so that it takes a specific amount of time for the query to be successfully resolved. For example, the time it takes for a Bitcoin query to be resolved is set at ten minutes.
The first mining computer that finds the correct solution adds it to the blockchain. The updated ledger is then sent to other miners on the network for authentication.
When the transaction is verified by a majority of nodes, it is updated to the ledger. The mining system that found the correct solution, or hash rate, earns a fraction of the coins from the transaction.
Mining operations are responsible for two main functions, generating new coins and authenticating transactions for existing coins.
New coins are generated for most cryptocurrencies by solving a complex mathematical problem similar to authenticating transfers. The objective is to find the most efficient way to add a new block to the ledger. Additionally, the goal is to find the method that gives the least possible incremental value.
The first mining computer that finds the correct code is awarded with a small amount of newly generated coins. Those coins are then added to the total amount in circulation.
Difficulty in Mining Coins
Cryptocurrency developers add a degree of difficulty, and cost, into running a mining operation as more miners get into the business. The model is designed based on real world business situations.
Industries that are highly competitive have more barriers to entry and lower profit margins for each business. Those with few sellers tend to give a very high return on investment.
Mining requires advanced level computational resources such as high-end processors and graphics cards. Buying and operating these resources have a cost that the miner must bear.
Take the Bitcoin design for instance. When the value of Bitcoin rises, mining becomes a great way to generate an income based on the fractional reward system.
When investors see a greater profit in mining coins compared to their day job, they tend to purchase the equipment necessary to become miners. That will increase the operational capacity of the system.
But as more people join the business, the hash rate calculation becomes more difficult. This requires a more advanced level of machinery. Profits are balanced when the cost for each competing miner increases due to scalability issues.
Miners will be forced to stop mining coins when it becomes impossible for them to meet costs.
This self correcting system lies at the heart of all cryptocurrencies, which keeps the market from over saturating with mining operations.