So in my last post I mentioned looking for a new coin to mine and brought up Coinye West.
If you've been following the cryptocurrency scene, you're probably aware that Kanye West came out against it and issued a cease and desist order. In response, the makers of Coinye rebranded by dropping the West and launching a week early.
And in the last 24 hours or so, many of the Coinye sites have been hacked by someone who is apparently a fan of Dogecoin. So whatever Coinye sites you go to - it's dogecoin... to the moon! LOL
Its been quite comical to watch. :D
Friday, January 10, 2014
Thursday, January 2, 2014
If it's new... it must be news...
So I did my mining run of Lottocoin, the difficulty already escalated and my crappy video card isn't equal to the mining it any further. I made around .02 bitcoin on that mining run (about $15). Once again, that works out to about the amount of electricity.
As fortune would have it, I cashed out some lottocoins and added the .02 bitcoins to my pile and then used it to buy up some name coins right before the price run started - and I got out before it came crashing back down. So to bring you up to speed, my .07ish bitcoins is now up to .11ish bitcoins (about $80). Considering that I started with nothing and mined some Doge coins which I then flipped for bitcoin and then the same with lottocoin + my earnings trading so far I've turned about $20 of electricity into $80. Not bad.
And unlike Dogecoin where I unloaded them fast expecting it to fizzle - this time, I held onto about 10k lottocoin just in case they follow Dogecoin's lead and increase in value by 3 orders of magnitude (and by that time, my dogecoins were all gone). So I learned my lesson and sit on a small reserve of the coins I mine... just in case.
Now for the news.
There's a new cryptocurrency coming backed by Kanye West, his currency will be called Coinye West. Hahahaha. :D Anyway, mining/launch begins in 8 days... this particular coin is the only one I've encountered so far that is nice enough to provide you with a countdown timer to its go live.
More information here:
http://www.coinyewest.com/
Not sure what I'll mine next. I have a week to fill and need to find a new coin.
Oh and things I'm pleased to see - dire news coming from individual countries regarding bitcoin are having less and less impact. The news coming out of India didn't make a dent on the market or values at all... actually, the prices went up instead of down.
Another thing - as long as I've been watching cryptocurrencies, every time bitcoin has taken a blow, all the other currencies plummeted with it. Lately, the individual coins are starting to diverge and their value is increasingly less influenced by bitcoin. Then again, considering that Cryptsy is the biggest cryptocurrency (only) exchange and they have a bewildering array of trading pairs, it could be that backing is passing to Litecoin as its volume of trade is rapidly approaching that of Bitcoin, and since it costs less per unit, its less intimidating. Even there, I monitored the price of namecoin against bitcoin and litecoin when making my trades and lately - the big 3 are taking on a life of their own and independent of one another. That's a very good thing. (I call those the big 3 since they're the oldest, but technically, Peercoin is trading greater volume then namecoin.)
Anyway, that's it for now.
As fortune would have it, I cashed out some lottocoins and added the .02 bitcoins to my pile and then used it to buy up some name coins right before the price run started - and I got out before it came crashing back down. So to bring you up to speed, my .07ish bitcoins is now up to .11ish bitcoins (about $80). Considering that I started with nothing and mined some Doge coins which I then flipped for bitcoin and then the same with lottocoin + my earnings trading so far I've turned about $20 of electricity into $80. Not bad.
And unlike Dogecoin where I unloaded them fast expecting it to fizzle - this time, I held onto about 10k lottocoin just in case they follow Dogecoin's lead and increase in value by 3 orders of magnitude (and by that time, my dogecoins were all gone). So I learned my lesson and sit on a small reserve of the coins I mine... just in case.
Now for the news.
There's a new cryptocurrency coming backed by Kanye West, his currency will be called Coinye West. Hahahaha. :D Anyway, mining/launch begins in 8 days... this particular coin is the only one I've encountered so far that is nice enough to provide you with a countdown timer to its go live.
More information here:
http://www.coinyewest.com/
Not sure what I'll mine next. I have a week to fill and need to find a new coin.
Oh and things I'm pleased to see - dire news coming from individual countries regarding bitcoin are having less and less impact. The news coming out of India didn't make a dent on the market or values at all... actually, the prices went up instead of down.
Another thing - as long as I've been watching cryptocurrencies, every time bitcoin has taken a blow, all the other currencies plummeted with it. Lately, the individual coins are starting to diverge and their value is increasingly less influenced by bitcoin. Then again, considering that Cryptsy is the biggest cryptocurrency (only) exchange and they have a bewildering array of trading pairs, it could be that backing is passing to Litecoin as its volume of trade is rapidly approaching that of Bitcoin, and since it costs less per unit, its less intimidating. Even there, I monitored the price of namecoin against bitcoin and litecoin when making my trades and lately - the big 3 are taking on a life of their own and independent of one another. That's a very good thing. (I call those the big 3 since they're the oldest, but technically, Peercoin is trading greater volume then namecoin.)
Anyway, that's it for now.
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