Category Archives: Altcoin

Dogocoin

What is Dogecoin

Dogecoin is an open source peer-to-peer cryptocurrency, favored by Shiba Inus worldwide. This Ecoin is gaining popularity quickly especially on popular forums like Reddit. It was born and made for the Internet and is based on a popular ‘doge’ internet phenomenon and memes often shared on 4chan and Reddit.  It is sometimes referred to as it the first currency to be based upon an Internet meme.

Dogecoin has a strong community.  Its light-hearted perspective and novelty factor are giving it strength as an Altcoin.  Dogecoin recently ascended over 300% in value.

ku-xlarge

The Doge meme phenom seeded Dogecoin

Compared to other Altcoins, the resources for Dogecoin look and feel developed and refined.  The official blockchain referred to as the DogeChain is easy to read and elegantly presented.  Check out the big ol’ list of dogecoin resources for more examples.

Like Litecoin, Dogecoin uses scrypt in its proof-of-work algorithm and therefore can only currently be mined with GPU miners.  There will be a lot of Dogecoin produced (100 billion) from mining compared to 84 million minable Litecoins and 21 million minable Bitcoins.

protoshares

Protoshares is an Ecoin that is directly tied to the value of the work being performed by the computers in the peer to peer network.  Computers that are mining for the Ecoin and processing transactions for the Ecoin are entitled to a proportional amount of the value derived from these activities.  Protoshares are actually the precursor to Bitshares which will be the ‘stock’ in a Distributed Autonomous Corporation (DAC).  The DAC is a peer to peer cloud computing company that in a sense is for hire.  The owners of the DAC are the holders of the Ecoin associated with the DAC.  For this initial DAC, the company that is launching it, is trading Protoshares for other Ecoins to provide seed capital to build the DAC.  The initial DAC is being developed by a company called Invictus Innovations Incorporated.

The DAC is conceived to be be a flexible peer to peer network for hire. For most other Ecoins, the mining computers only mine for the Ecoin and/or process transfers of the Ecoin.  The vision of the DAC is compensate the holders of the Ecoin proportionally to their coin holding for the mining, processing and other tasks being performed by the network.  Anyone may acquire shares in the DAC by mining or trading for Photoshares now and Bitshares later.

Once the company launches the DAC, the Protoshare holders will exchange their Protoshares for shares of the DAC called Bitshares.  The value of the Bishares is backed by the processing work of the DAC network computers.  Some of these services could include payment processing, asset trading, domain name services (DomainShares), and in the future any service that benefits from peer to peer network computing.  It is possible that in the future a DAC could operate like a cloud computing solution like Amazon Web Services and become a very strong wealth generator.

EcoinClub (1)While the bears hug BTC and LTC today, some Altcoins are getting hooked by the Bull and going for a ride. Here are the most popular Altcoins RIGHT NOW in Ecoin Club community.  Please note that the coin exchange rates fluctuate quickly.  Click the Coin name to see the most updated information and charts. 

11/16/2013 – Popular Altcoins

Devcoins:  Devcoin has been trending up since the 12th.  After a quick retreat earlier today and yesterday the Decoin shows some bounce back.  They are up as much as 8% in the last 24 hours.
Goldcoins: Goldcoin trade against BTC and have had a stable ascend since last November.  They are up as much as 18% in the last 24 hours.
Worldcoins: Worldcoin started rising in late November and have continued to stay up.  They are up as much as 35% in the last 24 hours.
Diamondcoins: Diamondcoin has been around since July.  As recently as November they were at about zero.  The market seems to have picked up steam.  while it is still well off its highs, they are up as much as 40% in the last 24 hours.

Tomorrow’s Altcoins?

Nobody can predict the future but these Ecoins are showing something that makes us want to get a few.

AmericanCoin:  This coin was introduced back in June and it had a very slow and steady decline until a little past Thanksgiving.  Then it started to show signs of life and a heartbeat. Since the 8th of December that heartbeat has been getting stronger.

Stablecoin: The name is kind of ironic because in the exchanges, this Ecoin is anything but stable.  It has had some big pumps and big dumps.  It is exchanging near its 10 day lows and  no where near its highs.  This Ecoin may still have some dump to go, but we are keeping our eye on it, just in case dump goes to pump.

Protoshares:  This Ecoin is the precursor to a Distributed Autonomous Corporation (DAC) which is basically a peer to peer network for hire.  Most Ecoins mining computers only mine for the Ecoin and/or process transfers of the Ecoin.  The vision of the DAC is to put that computing power to ‘better’ use.  Anyone may acquire shares in the DAC by mining or trading for Photoshares.  The initial DAC is being developed by a company called Invictus Innovations Incorporated.

Once the company launches the DAC, the Protoshare holders will be able to exchange their Protoshares for shares of the DAC called Bitshares.  The value of the Bishares is backed by the processing work of the DAC network computers.  Some of these services could include payment processing, asset trading, domain name services (DomainShares), or really any service that benefits from peer to peer network computing – which is just about anything.  For example, it is possible that i the future a DAC could operate like a cloud computing solution like Amazon Web Services.  As a Bitshare holder, the Bitshare owner is entitled to a dividend for the value of the work performed by the DAC.  Most other ecoins are only backed by the Ecoin’s value as a form of wealth representation and transferability.  Photoshares aim be be valued by the work being performed by the network running the Photoshare.

 

successThere are more and more Altcoins entering the Ecoin marketplace all the time. One of the big questions in the Ecoin community now is if Altcoins are a fad or have real staying power.  This is obviously an unanswerable question.  I believe that Altcoins do have a long-term place in the future of E-currency.  The web is all about long tail and customization.  Most new Ecoins have a unique feature that makes them different than other coins.

Altcoins may be the long tail of currency.

Namecoin has unique features in the blockchain. Quarkcoins have a unique feature for inflation.  Infinitecoins have a unique feature to keep transaction costs low. Mastercoins are designed to leverage the Bitcoin blockchain and address existing Ecoin issues with security and refunds, as well as offer the ability to make your own Ecoin. Also Altcoins already represent a significant market share of all Ecoins which means people are following them and trading their Bitcoins and Fiat for Altcoins.  For now I am constantly researching and acquiring Altcoins. I like to spend some time reading up on the features of the new Ecoins and trying to pick out the most interesting. A question I typically ask is “what about this Ecoin makes it unique?” and “does that unique feature seem to be something that will excite the market and community?”

Monitor Bitcoin Talk Forum

Most Ecoins start as a developer project and are announced in popular Ecoin forums. Recently new Ecoins start with a fundraising campaign that typically involves first adopters getting to trade existing coins (Typically BTC) for the new Ecoins at a better exchange rate than will be available when the new Ecoin starts trading. Examples of this are Mastercoin and Netcoin. If you want access to these early Ecoin opportunities, monitor the Bitcointalk Forum for new release announcements and insight.

Review Cryptocoin Charts

After an Ecoin gains momentum, it will start to be traded on an Ecoin Exchange. I spend time monitoring these exchanges for new Ecoin exchange match up. One of my favorite tools is Cryptocoin charts.  These charts are an easy way to see which Ecoins are trading and the Ecoin’s recent momentum. Typically you will see at least one or two Ecoins that are making big moves (over 25%+ in the last 24 hours).

Pick your favorite Ecoins

It is very difficult to pick which one of these movers is going to break out.  We typically exchange our LTC or BTC for four or more of these movers at once. This seems to increase the likelihood that we will pick the fast mover of the week. Last week, we picked Devcoins which moved up about 200% on the week.

EcoinClub (1)

Namecoin_Cat_Icon“What’s in a Name …coin?

Namecoin is  a peer to peer Ecoin based on Bitcoin.  Unlike some other Bitcoin derived Ecoins, Namecoin has its own unique block chain.  Namecoin’s unique blockchain features are what makes Namecoin a unique Ecoin.  The coin gets its name from the fact that the holder of a Namecoin get to custom write fields in the Namecoin public blockchain.

Every Namecoin is yours to write.

The unique Namecoin feature, having a unique name for each transaction, greatly increased the anonymity and security of Namecoins.  The Namecoin blockchain is a a public spreadsheet that stores data on every Namecoin transaction in the blockchain.  There are a few extra columns for data in the Namecoin blockchain.  When you receive a Namecoin you get to put custom information or data in the row that is dedicated in the blockchain to your  Namecoin transaction.   While this ledger is publically readable, only the Namecoin owner can write to this row in the table.

When you acquire a Name coin you get to fill a row in the table with whatever information you want.  Some of the most common insertions are encrypted data, a domain name pointing to an ip addresses, a name or an openid addresses.  You can put anything you want in there as long as it fits the field parameters.  Any application that wants the information just has to read the spreadsheet. However, only the owner of that row can adjust the values of their row. To write to the row, the name coin holder provides their encrypted Namecoin wallet to prove ownership.

Namecoin transactions include two small fees, a network fee and a transaction fee.  The network fee is used to ‘pay’ for the unique name for the transaction.  The Namecoin network fee is set to drop as more Namecoins enter circulation.   Right now it costs 0.02 for new .bit domain and lasts for 175 days. Then you have to update for 0.005.  The transaction fee is variable depending on how fast you need the transaction to execute.   The transaction fee ranges from 0 to .01 NMC.

Get 9 Namecoins with Paypal for $99

EcoinClub (1) paypal_button

DVCoin12-13-13

Devoin (DVC) is a peer to peer cyrptocurrency.  Devcoin has recently gained momentum in the Ecoin community.  Devcoin(DVC) has been around for awhile.  DVC started trading back in July.  It has remained relatively stable.  Recently when it began to spike in volume and value.   There has recently been chatter about this coin in the forums and message board.   Some tweets have reported that  Devcoin is picking up momentum n Brazil which is leading to larger adoption from developers (the developer community is estimated at over 100 now), miners and consumers.  For additional information about acquiring Devcoins submit your email below.

qpmrpqv9jpkoligtqr6p

Mastercoin is an open source Ecoin being developed by the Bitcoin community. Mastercoin is not your typical new ecoin. It is different than Litecoin, Infintecoin etc. It does not have its own blockchain. Instead it leverages the existing Bitcoin block chain and adds new services on top of  Bitcoin. Mastercoin is still very much in the initial development stage. Once fully implemented, Mastercoins will allow for extremely small transactions at no or little transaction costs, allow user to create their own coins, and create a tools for refunds and cancellations.

Mastercoin allows for extremely small transactions

Right now, Bitcoin transaction costs $.10 at a $1000 Bitcoin value.  This makes small purchases almost impossible with Bitcoins.  Mastercoin is designed to piggyback on the Bitcoin blockchain and allow small transaction to process for free or a very small fee.

Mastercoin is a long tail Ecoin platform

The Mastercoin software will allow anyone – neighborhoods, business, charities, schools etc.  to create their own ecoins that use the Bitcoin protocol and are tied to Bitcoin value. The software implementing Mastercoins will contain simple tools which will allow anyone to design and release their own currency with their own rules (without doing software development).  Mastercoin could do for currency, what WordPress did for websites.

Mastercoin has a special features to secure your Ecoins.

Mastercoin has a special feature referred to as the savings/guardian model.  This is basically a saving wallet and a guardian key.  If your Mastercoin wallet gets hacked, or the key to your guardian address gets lost or destroyed, the coins can still be recovered.  Right now, if your Bitcoin wallet gets hacked or if you lose access to the wallet, your Bitcoins are lost.  Mastercoin allows for reversible transactions.  Transfers can be reversed for one year.  One scenario where this could become valuable is for estate planning.  You simply give your heir(s) a paper copy to the private key of your savings address, but you keep the guardian address key to yourself. If you die, your heirs can transfer the funds out of your savings (they will have to wait for the reversibility period to pass), but they can’t steal from you while you are alive since you are the only one with the key to the guardian address and can reverse their transaction if they try.

Mastercoin has an extremely active community which has pointed out and corrected flaws in the currency.  Mastercoin, Coloredcoin and Bitshares recently formed a industry foundation to advocate for the continued free operation of Ecoin protocols.  Mastercoin has a current market cap of about $50,000,000 and is currently only available through private transactions. For additional information about acquiring Mastercoins submit your email below.

 

 

eeefead0d244357b164a46aaff90b6af

Quark (QRK) recently increased in value over 500% in one week.

Quarkcoin is an open source blockchain based digital currency.  It is considered hard to mine and secure.  It is also considered to be easier and faster to transfer than Bitcoin.

With a blocktime speed of just 30 seconds and a transaction confirm time of just three minutes (6 blocks), Quark is fast for transactions.  Transactions take only three minutes to confirm. QRK is also built to be secure. It requires rounds of hashing using six different hashing functions to decrease the likelihood of hacking.

Quark is still ideal for GPU mining, there is no ASIC miner on the market. Quark coins are traded for Bitcoin on digital currency exchanges and has an growing community.  Several forums are dedicated to Quark.  Since there is a short term for mining the majority of the 247 million coins have been mined.

Quark has a atypical feature – inflation is built into the coin.  There will never be less than a one QRK reward per block, amounting to an annual increase of one million QRK, or a yearly inflation of 0.5 percent.

Two features make Quark easier to use as a currency than Bitcoin. First is the larger amount of coin that will be placed in circulation – 247 million (plus an additional one million per year) compared to only 21 million ever for Bitcoin. This makes it possible to deal in larger units of currency.  Coins like Quark, Infinitecoin and Colossuscoin are competing for this small transaction’ space.  Also the annual inflation rate provides an additional motivation to use Quarks for transactions instead of just hold or speculate on them as assets.  You can learn more about Quark coins on the official Quarkcoin website.

To receive Quark coins from Ecoin Club, please sign up with your email below.

sucincessWhat is an Altcoin

An Altcoin is basically any ecoin that is not a Bitcoin or (increasingly) a litecoin.  There are over 60 Altcoins currently being mined and/or exchanged online.  Recently some of these Altcoins have had amazing appreciations.  One Ecoin called Sexcoin (SXC) recently shot up over 1000%.  Quarkcoin, Infinitecoin and Goldcoin are three coins that have also recently shot up in value.  To get an idea of how an altcoin might grow, start with how they are born.

How an Altcoin/Ecoin gets started

A developer or small group of developers will design and build the new Ecoin (Altcoin) and announced it in a forum.  The announcement will include a description of the Ecoin, the rules for mining, receiving and sending the coin, the coin wallet and the source code.  After the announcement, Ecoin miners will decide to mine for the new Ecoin or not.   If the Ecoin starts to get mined, the miners will  start to exchange the new ecoin for established Ecoins like Bitcoin or Litecoin within their communities.

If there is enough interest in the new Ecoin, one or more of the Ecoin exchanges will add the new coin to their exchange list.  After the Ecoin is added to an exchange, anyone with an account in the exchange and Ecoins to trade, can acquire the new coin through their online account. Once a coin has a place on the exchange it can grow or perish on its own merits.

Why some Alt coins take off

The Ecoin market is still very small.  Because it is small big buyers and seller tend to have more influence than in larger markets.  This seems especially true for new coin markets.  Right now a lot of the Ecoin wealth is concentrated in a few holders or groups of holders.  Most of this wealth was accumulated by mining or buying Bitcoins early on.  Alt coins are extremely helpful for these buyers to diversify their holding and as opportunities to get big ROI on very inexpensive coins.  For example, if Bitcoins cost $1000, a 100% appreciation makes the value of Bitcoin $2000.  Where as if you can trade 1 Bitcoin for 10,000,000 Altcoins, the Altcoin only needs to go from a value of 1/10 of a penny to 1/5 of a penny for that same appreciation.  This type of appreciation and even much higher appreciation of 1000% or more seems to be happening in the Alt coin market quickly.

What Alt coins to get NOW

Alt coins seem to follow growth pattern.  Typically there is an immediate spike in mining activity and then either a gradual climb or drop off.  Once a new coin is listed on an exchange the coin typically spikes in interest and then drops.  After that the coin typically bounces around or remains very flat.  Coins that remain very flat stay flat until they slowly perish or spike up.  Getting altcoins during the flat or in the beginning of a spike may work.

If you own Bitcoins or Lite coins, you can trade for Alt coins in exchanges.  You can not typically purchase Alt coins for cash.  You can get the Ecoin Club Altcoin Super Pac which includes:

Worldcoin: WDC is traded for BTC, margins are high right now in secondary markets which could signal a steep upward climb soon.

Zetacoin: ZET is traded for BTC, margins are high right now in secondary markets which could signal a steep upward climb soon, also ZET has had a slow and stable climb.

Casinocoin: CSC is traded for BTC.  There is a good amount of chatter on trading board about CSC and the name of the coin could help it gain good adoption for online gambling.

Centcoin: CET is traded for LTC.  The good news is also the bad news once it was worth more, now it is worth less.  This is the case of getting a coin when it is down and it can not go down much more.

Netcoin: NET is traded for LTC.  Netcoin is at a high right now, but there is strong chatter about this coin in the Ecoin community.

If you are interested in getting the Ecoin Club Altcoin pac, please submit your email and we will reply with additional information.