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Most people these days are completely aware of Bitcoin – a digital currency which has taken the digital market by storm over the last couple of years. However, a large portion of these people is not aware of the fact that there exists a large number of other cryptocurrencies as well. Ether, Ripple, Zcash, and Montero are few to name. The general terminology for these cryptos is ‘Altcoins’.

Each Altcoin is different in characteristics. Few of them differ in the economic model while others have different distribution methods. It depends on an Altcoin’s design whether it has to rely on proof-of-work mining algorithms or not. Moreover, a number of Altcoins offer an extra adaptable programing language, while others follow the same privacy terms as Bitcoin.

All Altcoins are not much interesting though. Some don’t even provide handsome offers to their users. For example, Altcoin is the combination of the total amount of coins, which clearly means that each coin has low worth. In this post, we will have a brief discussion about different aspects of Altcoin.

What is Altcoin Mining?

A process of mining new Altcoins. There are two types of Altcoin mining: single mining and pool mining. Single mining may not give you expected rewards and is way slower than pool mining. On the other hand, pool mining has a large number of participants sharing their mining equipment’s hash power which ultimately makes the process quick and simple. Besides, the rewards in pool mining are much higher than those of single mining. Following are few steps that will help you start mining Altcoin.

How To Start Altcoin Mining?

To start Altcon mining, you will need:

Acquiring an Address:

Before starting mining, you need to register with the well-reputed platform and have a digital address. You give this address to pool inform them where to pay your rewards. The mining pool provider will sync the blockchain for you.

Funding:

Start funding to your account and create your public key.

Connecting to the pool:

Once you have an address, you will need to install a mining software and connect to the mining pool. After joining the pool, you can start mining.

Once you have an address, you will need to install a mining software and connect to the mining pool. After joining the pool, you can start mining.

What is Staking Pool?

It is a proof of stake mining pool. BTC and other altcoins are used to purchase Altcoin. Later, these altcoins are held in their individual wallets. In addition, each wallet will contain the staked altcoins. The number of the altcoins holding in your wallets completely depends on the price and percentage of the Altcoin.

What Is The Process Of Staking Pool?

Deposit your POS coins into an electronic wallet, so that it can easily connect with the other altcoins available on the internet. Basically, this is the result of connected wallets. Transactions get verified and confirmed which enables the receipt of the reward.

Altcoin Mining

What Are Best Altcoins?

Based on the market cap, following is the rundown of top altcoins:

  1. Ethereum: $19,567,960,363
  2. Ripple: $6,485,335,767
  3. Dash: $1,294,582,036
  4. Nem: $1,174,185,000
  5. Ethereum classic: $1,409,231,346
  6. Litecoin: $2,167,228,375
  7. Monero: $539,679,521
  8. Zcash: $335,018,425

What Are Best Altcoin Trading Platforms?

Few exchanges help you to deal with your altcoins on daily biases. The list of top altcoin exchanges includes:

  • Local Bitcoins
  • net
  • Kraken
  • Bitfinex
  • Bittrex
  • Poloniex
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What is Bitcoin Cash – How To Get Bitcoin Cash

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The hottest news coming out of the Bitcoin world is it being split into two. The hard fork, everyone was eagerly waiting for was carried out on August 1st and we no more have Bitcoin – the lord of the crypto – as a single entity. Yes, now there are two bitcoins:! BTC (original Bitcoin) and Bitcoin Cash or BCH (forked version of Bitcoin).

what is bitcoin cash?

Bitcoin Cash is similar to Bitcoin in terms of protocol: same block time, 21,000,000 supply, proof of work SHA-256 hashing, and the same reward system.

However, two of the main things that separate it from Bitcoin are: block size limit and the difficulty level.

Bitcoin Cash proposes to expand the block size to 8 MB compared to Bitcoin which offers a block size of just 1 MB. The other major difference between the two crypto-bros is difficulty level as BCH will adjust the difficulty every 6 blocks as opposed to Bitcoin’s 2016 blocks.

Some other differences are discussed in the following part of the article.

What Is The Difference Between Bitcoin And Bitcoin Cash?

  • BCH is an altcoin forked off Bitcoin
  • It separates blockchain and bumps up the block size up to 8MB
  • It removes Segwit
  • If the split is not successful or the community refuses the usage, BCH will soon diminish after the split.

How To get Bitcoin Cash?

Before obtaining Bitcoin Cash, make sure you go through the following points:

Get Your Private Key Ready:

Get a private key to make sure you have access to Bitcoin wallet. Having a private key is essential as without it, there is no way you can access the coins.

Create A BCH Wallet:

In order to keep Bitcoin Cash somewhere, you will need to create a BCH wallet. This will help secure your bitcoins and also assist to make transactions.

Do Not Trust Anyone:

Do not trust anyone, I repeat, do not trust anyone under any circumstances. You will be contacted with numerous scammers/tricksters whose sole purpose is to steal your coins. You can avoid them by not responding back and keeping your private key unrevealed.

What Are The Exchanges And Wallets That Except BCH?

bitcoin vs other cryptocurrencies:

The list of Exchanges/wallets that except BCH include:

  • Bitfinex
  • com
  • BTCC
  • CoinFloor
  • Quoinex
  • ViaBTC
  • Cryptopia
  • Jaxx
  • Korbit
  • HitBTC
  • Huobi
  • OKCoin
  • Bitflyer
  • Bithumb
  • Bittrex
  • Kraken
  • OKEx
  • Yobit

Wrap Up:

The word is, we now have two bitcoins: Bitcoin and Bitcoin Cash (BCC or BCH).

Just remember to be cautious while splitting your BTC and read as much about the split as possible. Hopefully, you made most of the split and are now enjoying your free coins.

Do let us know how the split turned out for you below!

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Crypto Regulations – South Korea’s Impact on the Crypto-world

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One of the largest markets for cryptocurrencies after Japan and U.S. is South Korea, as it’s believed by many. South Korea’s population is equivalent to Arizona and California if they’re put together. The cryptocurrency speculation looks like it has been overhyped unreasonably and South Korea’s government wants to take some fundamental steps now, to control this cryptocurrency trend in the crypto world.

South Korean’s Crypto-Market – Current Situation

At this time, you can clearly see a lot of chaos in South Korea. It all started when the government of South Korean officially legalized Bitcoin service back in July 2017, which caused a momentous progress in the demand for cryptocurrency trading all around the country.

North Korean hackers targeted South Korean Bitcoin exchanges in August 2017, and by the end of September, there were many rumours that South Korea was planning to execute stricter regulations on cryptocurrencies. These rumours turned out to be more serious by December and based on speculations, it changed into an absolute ban on cryptocurrency exchanges and had a bad impact on the crypto world.

crypto world

South Korea Influence on the Cryptocurrency Prices

According to an estimation by The Blockchain Industry Association, South Korea has many cryptocurrency exchanges, including;

  • Coinone
  • Bithumb
  • Korbit

This tells us that even with 50 million people in a country, the demand for cryptocurrencies is so high that it has traded at more than a 30 % higher price than other countries.

80% of the investors in South Korea have earned from investments in cryptocurrency and almost one-third of salaried Koreans have an average of $5,000 in cryptocurrency, which is a huge acceptance of an unapproved investment based only on speculation.

How are cryptocurrency traders operating in South Korea?

Many banks including the second largest one in the country, Shinhan Bank, offer local cryptocurrency exchanges with computer-generated bank accounts. Each investor/user can use these virtual bank accounts for depositing or withdrawing huge amounts of Korean Won without using their real bank accounts, which takes a lot of time and is costly at the same time.

The industry is currently under the government’s radar, amid other fears, that illegal funds will be entering the market and management of price of cryptocurrencies will be based on speculative investments.

How’s 2018 been so far for Cryptocurrencies in South Korea?

More regulatory plans have been announced by the government to ban this anonymous cryptocurrency, in order to control cryptocurrency speculation. Meanwhile, after this announcement, several South Korean exchanges were removed by the CoinMarketCap from its website, stating that extreme price divergence is the main reason for this. Around $20 billion was wiped off Ripple’s market cap as a result. After a statement by the Ministry of Justice, news of a whole cryptocurrency ban arose once again.

Is there going to be any ban on the cryptocurrencies?

The government started to notice huge speculation that drove instabilities in the cryptocurrency market since September 2017 and in order to evade money laundering and other crimes related to it, strategies to prohibit anonymous trading on local exchanges were testified in December 2017.

The Prime minister of South Korea, Lee Nak-Yeon, warned about the hazard of cryptocurrencies being an easy way for the younger generation especially students, to get involved with such illegal activities.

Regardless of the media misrepresentation of more stricter rules for cryptocurrencies, at the beginning of 2018, Kim Dong-yeon (the Finance Minister) ensured that there’d be no ban of cryptocurrencies in South Korea. The government also proclaimed that there’ll be tax on cryptocurrency exchanges around 24%. Apart from banning anonymous trading, they’ll be banning foreigners and minors from opening any other new cryptocurrency accounts as well.

How South Korean government will enforce bans?

The south Korean government has restricted the opening of new virtual accounts and cryptocurrency traders won’t be permitted to make any deposits into their virtual currency exchange wallets. They’ll be only able to deposit it only if they’ve the name of their cryptocurrency exchange and it matches that of their bank accounts.

It’s been demanded by financial authorities to the cryptocurrency exchanges to revamp their AML (Anti-Money Laundering) and KYC (Know-Your-Customer).

Are These planned regulations of South Korean affecting the crypto-industry?

Because South Korea has such a huge cryptocurrency market, this means that these regulatory decisions of government will have a huge impact on the crypto market worldwide.

During all these rumoured reports of the government banning cryptocurrency, the total market cap of all coins was declined by 40% in just one day. But shortly afterwards, the market cap started to rise once again.

All the rumours have played a big role in the cryptocurrencies’ price, and any change in the economic decisions or law made in the hubs of major crypto, will always result in such instabilities.

However, there’s always a possibility that it will climb back to the pre-crash levels.

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Warning Against Investing in Bitcoin – Federal Reserve Official says “Don’t do it!”

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Since 2017, Raphael Bostic is leading the Atlanta branch of the Fed. On Tuesday, a message was delivered by him at the Hope Global Forums annual meeting, promoting entrepreneurship and financial annexation. The president of the Federal Reserve Bank of Atlanta conveyed his opinion on Bitcoin investment and other cryptocurrencies by only using three words, “Don’t do it!”

Federal Reserve Bank of Atlanta

Bloomberg Report

According to a Bloomberg report, Bostic further said:

“They are speculative markets. They are not currency. If you have money you really need, do not put it in these markets.’’

Bostic is the first one from the Federal Reserve Bank of Atlanta, who has issued these bearish remarks on cryptocurrency. Back in December, cryptocurrencies were compared to “Beanie Babies” by Neel Kashkari, who is the president of Minneapolis Federal Reserve.

He said:

“I think of it a little bit like Beanie Babies. If they were jumping in price by 1,000 times, or $10,000 each, what would we make of Beanie Babies being priced where they are?”

Following the statement, he added that he believes the “underlying [blockchain] technology is…more interesting” than the top-cryptocurrency, Bitcoin. Kashkari, also claimed that people who are investing in cryptocurrency are on a great risk and said that they are “swimming with all the sharks in the world because of all the anonymity.”

The Federal Reserve Bank of New York – Report

Recently, a report was released by The Federal Reserve Bank of New York, which shed a little bit positive light on cryptocurrencies, as he kept arguing that they cryptos may be able to enable dubious payments, however, these payments are not really necessary in most advanced economies.

According to the report:

“Cryptocurrencies arguably solve the problem of making payments in a trustless environment, but it is not obvious that this is a problem that needs solving, at least in the United States and other advanced economies.”

Janet Yellen, who is the former Fed Chair, said in her final press conference that the top-cryptocurrency, Bitcoin is a very speculative asset and has a very little role in the payments system. Meanwhile, the present Fed Chair, Jerome Powell said that in the past, he had nothing against the Bitcoin and added, that the organization isn’t conflicted or supportive of substitute currencies.

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The Truth Behind Whether TOR Browser is Completely Anonymous or Not

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 People have entirely assumed that Tor is a fully secure and anonymous alternative to surf the world wide web. But, has anyone ever tried to find out if all this is actually true or how anonymous it really is?

Much to our surprise, TOR is not entirely concealed because it also has a collection of risks and limitations one should pay attention to before using it. In this post, we’ve outlined the most common ways to monitor Tor’s internet traffic and track their origin.


Applications such as JavaScript, Plug-ins, and others are bound to leak your IP address:

If the main reason of your TOR usage is anonymity then you should steer away from JavaScript as it can allow external malicious websites to phish your IP address, while you’re watching a video or even using add-ons like Adobe reader and Adobe Flash.

Although JavaScript is disabled by default in the security settings of Tor’s browser bundle. You are advised to avoid turning on these options if your main priority is to anonymously browse the internet. Along with JavaScript and Plug-ins, BitTorrent is also an application that can leak your real IP address, so it is preferred to not use any such applications with Tor’s browser.

 

Exit Node Sniffing:

Due to Tor’s programming, it’s almost impossible to track the location of internet traffic. To further enhance the privacy, web activity is directed through randomly chosen relay nodes across the network, right before leaving the network to the web page. A majority of Tor’s traffic exits the Tor network.

Example: When you are entering Google via Tor, even if the traffic is directed through many Tor relay nodes it still has to exit the Tor network and connect to Google servers.

The place where the traffic exits the Tor network, also known as the exit Tor node. This can be monitored.

When it comes to using encrypted HTTPS sites like Gmail, they’re okay even though the exit node will be aware that you are accessing your Gmail account. Remember, whenever you are browsing an unencrypted site using Tor all your messages, pages visited and searches are monitored by the exit node.

It is your choice to turn your Tor node into an exit node although, this has its legal liabilities.

 

The Risk of Running an Exit Node:

As mentioned before, running an exit Tor node can lead to risks later on.  If you happen to be using Tor for illegal activities and the traffic exits out through your exit node, it’ll be tracked back to your IP address and it won’t be long until the cops are banging on your door.

 

It is advised when using Tor’s browser, to stay away from unencrypted websites whenever sending or receiving sensitive information because your traffic can be monitored. It’s not just law enforcement officers you should be worried about but, malicious predators as well that are looking to get a hold of your personal data.

 

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