State of the Blockchain
What is really happening?
It is all about the capacity to handle large amounts of transactions.
Number 1? Do you even need to ask!?
It was quite a surprise when I took a look at my portfolio this morning. Coffee and Cryptos, what a great combination. It has been a great rutsch into 2018 for all things blockchain. Even with a cold adding some noise to my brain I still can manage to smile. Yes, I was expecting the next jump to happen. Bitcoin celebrating Schnorr signatures, Litecoin optimistic as ever, DigiByte steadily moving up and with Dogecoin the Cryptos realm finally understood how fast and cheap it actually is. Now the only one missing is Vertcoin, but also HODLin that one. Stealth will come, well that is what I am counting on. It looks like a lot of traders dumped their ripple and bought real Cryptos by the millions, smart move! Let that pattern continue. May we interest them in some hot Steem perhaps...?
It is called a correction, what is happening to Steem right now. It is part of the way Steem works I guess. When the price is high a lot will want to pluck their Fruit Of Work {FOW}, that will effect the price. But is it so different from the way the Crypto market works? Traders are cashing in on leverage there. Selling high, waiting for a drop and then buying the fogging dip. The pattern is to be seen in the Cryptos realm. After a price correction, as it is being called, a new rise probably will follow. As far as I can see this is going to happen for Steem too. Just like it did for Litecoin and Dogecoin overnight. The reason for the price-drop in SBD is because more Steem Backed Dollar is being issued right now. More supply, means less scarse, could cause a artificial drop in the price of SBD. And I came to understand the Witnesses decided to do so. We'll see how this works out.
So, even if Steem and SBD got a correction they are still doing well. Steem is still high and the coming week will probably show that it can keep this up. More and more attention in the media and of websites like Blocktivity really showing what the best blockchains are. By performance Steem is the absololute number one. Over 1.3 million transactions in a day, at 0.11% of its capacity. Sure I did see Ethereum, but it is at full 100% capacity and has unfinished business, there is a waiting list there for transactions. Is it the furry hairballs? Who knows. Blockchains like Bitshares are kicking out more transactions in a day than Bitcoin BTC. While BTS only uses 0.03% of its capacity, Bitcoin is at full 100% and seems to be spammed again with rubbish transactions. They really need Schnorr and SegWit to kick in. Yet it looks like Litecoin might overtake them in Blockchain activity first.
Dogecoin and Golos are in a close range of each other, leaving Bitcoin Cash behind. That last one seems to be struggling. It has been hyped a lot but it can not really compete with other Cryptos. DOGE still buys a cup of coffee, fast and cheap. While HODLers will have smiled when they saw how business became serious for Dogecoin. And the twin of Steem, Golos? Still doing great, it is going places to and I guess that one will grow too. And it is easy to see at the Blocktivity website which blockchain deliver and can handle scaling with ease. Hard to deny for sceptics of DPOS {Delegated Proof Of Work} that it does not work, or it has not future. Because looking at those numbers and figures I think the future is DPOS!
Still there is room for lots of different kinds of Cryptos spreading the wealth all over the globe. Because the next run is comming, it is holding back because companies have a hard time to satisfy the demand. Huge amounts of potential buyers waiting in line for buying Cryptos. It is booming, and it seems the rush has not even really kicked in yet. And as I expect this high demand will hydraulically pump a lot of Cryptos shortly. Already saw DOGE jump, who knows what's next? It is still quite chaotic on the Cryptos market. And that can also be seen in the Blockchain activity. Although one thing is very clear, all the DPOS blockchains like Golos, Bitshares and Steem rule. Hundreds of thousands of transactions per day and not even breaking a sweat. With Steem being the absolute number 1, over 1.3 million a day and keeping it up all the way. Now that has to attract some attention.
Anyway, even in these crazy chaotic Crypto days remember to only invest what you are willing and able to lose.
May the Cryptos be with us!
Now who's the best, beating the rest?
Screenshot taken at Blocktivity dot Info.
Cryptos being around for quite a while now but I think it's still calm before the storm. The masses hardly discovered this (new) way of investing. We ain't seen nothing yet.
Yes, the big Crypto run is still about to happen.
Some of the Crypto services had a registration stop, they cannot handle the demand. 400.000 new clients in no time for companies like Litebit. Buy stops on all Cryptos there. Their helpdesk is about 12 days behind... That says a lot about what is coming I think.
Had that with Litebit. They're out of 'stock' quickly and very often. At least that´s the message you get regularly.
That is a sign I think of what is comming. As I came to understand AnyCoinDirect is also having a big challenge keeping up with the fast growing demand.
They had/ have a registration stop also.
It is almost possible to do some old school street selling: "Cryptos for sale, Cryptos for sale! Get 'm 'ere at the lowest prices, buy with silver, buy with gold, offer me a good price and it is sold! Cryptos, Cryptos, buy ya Cryptos 'ere!"
I will have to check this schnorr thing. It's a glorious green day for sure!
It lowers the transaction size for Bitcoin by about 25%. By combining in- and outputs for signing effectively. This also will make it more expensive for low transaction fees spam attacks on the BTC mempool. These often have a lot of in- and outputs holding very low value. Less waiting, lower fees also, and the mempool getting empty faster. Guess it will have a pump effect on the BTC price.
And the day has a lot of green candles burning!
Cheers to Cryptos!
Oh man, that will be great because there is a lot of low value spam transactions. Anything that improves the old BTC game is fine by me and of course a bit of price action never hurts!
Absolutely, it is about time the mempool spam attacks are being stopped. Schnorr will take care of that for a part. And as I understand Coinbase and Bitpay finally are getting their heads out off their asses and will implement SegWit too. This will give BTC another boost.
And we need to be compasionate about mister John McAfee his pecker. Nobody wants to see him go all cannibal on his own woody. So therefore I'd say: Bitcoin needs to go to that 500'000 USD in value!
Who cares about gold anyway, a Trezor holding half a million in value worth of BTC is much more easy to carry around than 12 bars of 1 KiloGram gold.
Lol, it's far easier to carry but it's far more stressful!! Bloody things. I now live in terror that my recovery seed is wrong and my device will break lol.
John McAfee is gonna enjoy that munch hehe!
Yes, the recovery seed, it has to be treasured extremely well. Just like them HD wallet passphrases. New technologies, different worries. ;-)
Pecker for dinner
"Would sir like it rare, medium or fully baked? And may I suggest a Chambertin-Clos de Bèze Grand Cru to go with that? This 100% Chanson Pinot Noir with its dark red color and its wide variety of bouquet in smell and taste will really go down well with your pecker sir."
Yet, for the man who indirectly endorsed Steem, I hope BTC will reach 500K in time. Although one might state there is a little self interest there too. :-)
Haha, I am with you there. A little self interest in the heady heights that bitcoin might reach is never a bad idea ;0)
;-)
I can't wait for what Vertcoin has in store for 2018 after reading a post about their roadmap! I see an explosion 2018 for VTC and the crypto market in general!
Vertcoin really wants to stand out in the crowd. One click mining, Stealth transactions build back in. For VTC those things will really give it a boost. Combined with their 25 VTC block reward for the next couple of years really makes it interesting to keep an eye on.
Right now I think it maybe a bit too chaotic on the Cryptos market, but that will settle down in a while I think. And the ones that are the backbone of Cryptos will rise to the occassion.
And there I was thinking last Crypto year already was very exciting... :-)
Yeah It was super nice at 50 VTC, but glad it has been around long enough to halve! haha
And it is ASIC resistant, which is a nice differentiator! The dev team is super active also!!!
What are your thoughts on Viacoin?!
It still will be a very good Crypto to mine. Basicly also because of keeping ASICs out.
ViaCoin I have not digged into yet. So many Cryptos... Maybe one of these days I will check that one out.
Yeah being asic resistant is good! I have yet to mine any crypto yet and I am wondering if it is too late!!
There are several mining options. This site can help make a choice:
https://whattomine.com/
There is some easy mining software also, with that you can mine several Cryptos: https://minergate.com/
For getting some real earnings from mining some investments are needed in most cases.
Vertcoin has GPU mining software, but mostly pool mining will make sense I guess.
But to get the feeling Minergate might be a nice starter.
Good luck.mining!
Steem been the most active block chain is great news, it shows the potential that it has and the capacity to grow. this will mean with the current influx of new users on steemit, the blockchain will explode in activities and as the SMT goes into full use it grow even more. this is good news for steem coin
Yes, with SMTs things will look even better for Steem.