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Altcoin News

Vitalik Buterin Thinks That Bitcoin SV Is “A Pure Dumpster Fire”

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The co-founder of Ethereum Vitalik Buterin is in the cryptocurrency news again, this time for accenting his disapproval of Bitcoin Cash ‘Satoshi’s Version’ (BSV). Buterin called the new hard fork of the altcoin “a pure dumpster fire” in a response to a tweet with the cryptocurrency commentator and businessman Tuur Demeester on Christmas Day.

The discussion also included Buterin’s stance towards the Proof-of-Work (PoW) and Proof-of-Stake (PoS) which are the algorithms used by cryptocurrency developers in building their assets.

As he said in his Twitter rant:

“I have my disagreements with the Bitcoin roadmap, PoW, etc., but they’re trying to do something that’s genuinely cool tech,” he responded, before calling BSV a “pure dumpster fire.”

Buterin also made it clear that he is not a believer in the Proof-of-Work (POW) algorithm at one point of the discussion. However, he also said that he remains optimistic about the kind of technology that is being developed.

Previously this year, Buterin has called Craig S. Wright a “fraud” to his face at an event. Earlier this month, he was in the news for making investments in three different ETH-based startups, where he donated 1,000 ETH tokens to each startup working on the development of Ethereum 2.0.

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Altcoin News

Bitcoin SV Data Shows The Altcoin Is A ‘Ghost Town’: Analysis

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Bitcoin SV data analysis shows that the digital asset is basically a ‘’total ghost town’’ according to analyst Kevin Rooke who tweeted earlier today and we are reading more about it in the latest cryptocurrency news below. The purpose of the Bitcoin SV fork was to increase the capacity for millions of transactions and make the entire base layer of the cryptocurrency competitive with major credit card companies such as Visa or Mastercard. This is the reason why Bitcoin SV developers want bigger block sizes mainly in gigabytes in order to be able to handle the traffic. The big data centers can handle the transaction volume but people are becoming more concerned about the centralization that comes with the barriers. Inevitably, a lot more money is needed to run a mining outfit that has to process thousands of gigabytes per week and in that case, in order to serve them all, more bandwidth is required. With all of this Bitcoin SV data provided, there seems to be a demand for all the block space. However, according to Rooke, there is no demand and the failure of any cryptocurrency is the inability to gain any real traction. Bitcoin SV proponents are often at odds but they have similar goals with Bitcoin Cash. The only difference is that the BCH altcoin is more popular. Bitcoin Cash is not the only big competitor to Bitcoin SV. There are many of the cryptocurrencies with major popularity which boost their adoption including Bitcoin, Ethereum, TRON, and EOS. As noted in the coming altcoin news, the point of building better-scaling blockchains like those that Craig Wright wants to achieve is that scalability is always necessary after all and this comes at the heart of the criticism. Bitcoin and Etehreum are the only blockchains effectively which face scaling limitations currently. The Bitcoin blocks are crowded so the fees are getting higher. The Lightning Network adoption is still far from over. Many in the crypto community believe that Facebook’s crypto project Libra will bring alone a huge influx of new users but in this case, the currency with the easiest usage will see the most demand.
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Altcoin News

Zcash’s New Upgrade Will Make Crypto Privacy More Accessible

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Zcash’s new upgrade has been at the forefront of the entire crypto industry for quite some time now. By market cap, the altcoin is the 23rd largest public digital asset and compared to other digital assets, Zcash has a large community and user base. More about this update we read in our latest cryptocurrency news below. Zcash in its nature was not enough for the founders so the company backing up the asset-The Electric Coin Company proposed Zcash’s new upgrade. During the ZCon1 In Croatia, the developers announced that they are looking to build a better blockchain for Zcash which could be used by more than 10 billion people.  For quite some time now, Monero and Zcash are known to be the forerunners in the cryptosystem because of their privacy features. While Monero became extremely popular with low transaction times and immense fungibility, Zcash has not so the blockchain cannot enable private transactions by default yet. As noted by Decrypt, however, the Electric Coin Company will change how Zcash works and will make the crypto anonymous, easier to use and increase its accessibility to a global population. The company will build a brand new blockchain and will throw away the current chain since 2016. The company also pointed out that it will involve sharding in the chain. Sharding became a leading scaling solution mainly for the Ethereum developers who intend to implement Proof of Stake and sharding in the next two years. The mechanism splits information in a database into different servers and this is why cryptocurrencies could allow for different groups of nodes in one blockchain to process different requests. As noted in the coming altcoin news this Zcash’s new update will be entirely separate from the current Zcash chain. When the new digital assets get activated, there will be no need for much effort to ensure that the users are doing the right thing. However, it is unclear how this new system will work. The upgrade aims to revolutionize Zcash’s place in private finances. Currently, less than 2 percent of all transactions are with the help of the on-chain privacy mechanism since shielded transactions can be more expensive.
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Coinmine: The Home-Based Bitcoin Crypto Miner

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Meet Coinmine - a new cryptocurrency mining device that is aimed at the hobbyist market and is perfect for giving users the option to be paid in Bitcoin. According to the latest cryptocurrency news, this device was aimed at the hobbyist market and is a real breakthrough for many users. Designed to mine Monero (XMR), Zcash (ZEC), Grin and Ethereum (ETH) at launch, this crypto miner had a low enough difficulty threshold to allow for the average miners to see a minimal return. The recent addition of Bitcoin payouts, however, made Coinmine a lot more popular and gave miners a great incentive to try the $799 ($699 with a special Bitcoin discount) product. The founder of Coinmine, Farbood Nivi, was featured on many best cryptocurrency news sites for his statement which said:
“To get you the most bitcoin possible from your Coinmine One, we had to engineer MineOS to automatically mine whatever crypto converts to bitcoin at the highest rate and then exchange it to Bitcoin for you and put it in your wallet. This way you’re getting way more Bitcoin than if the device was mining Bitcoin directly.”
The Coinmine box, however, is not designed to make quick millionaires. According to Nivi, it is a testbed and experimental product for those who want to dip a toe in the mining process. Given its strict resource requirements of high stake mining, it offers a less energy intensive option.
“At today’s numbers, your Coinmine One will generate about $15-20/month of bitcoin in USD prices,” said Nivi. “Of course, that number changes based on the future value of Bitcoin. If the value of Bitcoin appreciates, so will the value of what you made with your Coinmine One.”
According to Nivi, Coinmine is also a cheaper and faster way to take part in networks like Lighting. For this, he was featured in the altcoin news several times.
“The time to build and maintain a comparable device with mining and a Bitcoin Lighting Node is about $400 if your time is worth $20/hour and it takes you 20 hours to research and build the hardware and software,” he said. “The parts for a miner and a Bitcoin Lightning Node could cost you $500 easily. That’s $900, and you still would have to control your DIY device from a command line with a monitor and keyboard instead of an app you can just tap on.”
Coinmine will be rolling its BTC update today and users will be able to mine but also "put their crypto into work" as Nivi noted.
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Altcoin News

Ripple Analysts Think XRP Is Heading To $0.55

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The price of XRP has been stagnant. Still, the coming altcoin news show that a lot of Ripple analysts are optimistic about it - and expect it to rise to $0.55 after its recent highs to $0.50 and its year-to-date lows of below $0.30 occurring throughout the past year. Even though these gains are nothing to be frowned upon, they are definitely small compared to the 300% gains that Bitcoin as well as other cryptocurrencies have incurred from their 2019 lows. XRP may soon surge higher, the Ripple analysts think, potentially catching up to other cryptocurrencies as well. Right now, Ripple is trading down nearly 2% and its current price is $0.475, down from its recent highs of $0.50. Over a span of one week, XRP is trading up from lows of $0.42 to new highs of $0.48 and more. For those of you who did not follow our altcoin news, the lows of $0.42 were also price at which the cryptocurrency was trapped at for an extended period of time while the rest of the market was surging higher. At the time of writing, Ripple (XRP) is at $0.482 with a 2.32% rise and a market cap of 20.52% billion. The 24 hour volume of Ripple is $2.1 billion which is a good factor for many Ripple analysts and traders. One of the popular cryptocurrency analysts on Twitter is The Cryptomist. He recently noted that XRP will likely require a little more time before it stabilizes and incurs enough selling pressure to lift off further and climb higher.
“$XRP: The 48 cents from yesterday’s post holding as strong resistance thus far. We did wick up to 50 cents but fell back to resistance. We may find a bit of ground before take-off, just be patient,” she said in a tweet.
Many best cryptocurrency news sites showed that a break above $0.50 could lead XRP in the near term. Harry, which is another one of the ripple analysts focusing on XRP, said that the next target for the altcoin is at $0.55.
“$XRP traders target is now $0.55c – should have been buying the dips as we moved into accumulation advance, lets go x,” he tweeted.
Assuming that all of these assessments are accurate, we could be seeing Ripple in the latest cryptocurrency news with a new target set at $0.55 or above.
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