Groestlcoin (GRS): What You Need To Know

In view of the volatility of today’s currency exchange markets, trading and transacting using conventional coins and notes has become less secure. Are Digital Currencies Secure? To curb this insecurity,

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In view of the volatility of today’s currency exchange markets, trading and transacting using conventional coins and notes has become less secure.

Are Digital Currencies Secure?

groestlcoin info imageTo curb this insecurity, it has become imperative for users to adopt a money system that upholds security and anonymity.

Many people feel that there is no better system of carrying out money transfers than the use of digital currencies.

Many digital currencies are not only secure, but also provide the much-needed anonymity that is desirable for online money transactions.

However, it should be noted that only a few crypto currencies provide absolute security and anonymity.

Nevertheless, digital currencies like BlackCoin and Groestlcoin have performed tremendously in addressing these issues.

WHAT IS GROESTLCOIN?

Groestlcoin has been around since early 2014 in the crypto currency space. It uses the proof of work system (POW) to facilitate secure online money transactions.

Some of the latest news is this quote from the Bitcointalk page:

The most outstanding  of GRS now is Segwit activated.
GRS is the first coin that Segwit activated , let all people know GRS is a Segwit activated LTC

Previously, the proof of work system was regarded as relatively expensive and time-consuming.  However, the Groestl algorithm makes mining less tasking.  Additionally, by utilizing this digital money system, it is possible for anyone to mine effectively, and on any platform.

WHY THE GROESTLCOIN CRYPTO CURRENCY?

The Groestlcoin system has made it easier for users to mine effectively, while conserving resources. In fact, one does not have to use sophisticated hardware, for the system works on old CPUs too.

Additionally, it is A S I C – free, making decentralized mining and fair distribution possible.  With decentralized mining, sending and receiving money has never been easier.

By utilizing the Groestlcoin crypto currency, users can transact in a safe and secure environment, while maintaining their anonymity.

HOW GROESTLCOIN WORKS

Groestlcoin transactions are implemented through mining. The Groestlcoin proof of work algorithm uses an iterated hash function, built on two fixed permutations. These two permutations secure the Groestlcoin network by providing a strong resistance from cryptanalytic attacks.

Additionally, this system provides greater hashing results with minimal power consumption, further bridging the efficiency gap between old CPUs and advanced GPUs.

WHAT IS GREAT ABOUT GROESTLCOIN?

The Groestlcoin hash algorithm is a first in the proof of work system, and Groestlcoin prides itself in being the first digital currency to utilize this innovative algorithm.

Below, Youtuber Brian Hoffman discovers Groestlcoin

This algorithm consumes less power per hash making it applicable across various platforms including old CPUs. Moreover, it releases less heat and noise, creating a favorable environment for mining.

Users do not have to worry about security and privacy issues, as the Groestlcoin has one of the strongest and most secure networks in comparison to other crypto currencies.  Additionally, it is readily available and user-friendly.

The influx of A S I C in the crypto currency world has worked to limit decentralization of mining.  However, Groestlcoin systems are ASIC-free, meaning that miners do not have to compete with other users who possess several greater GPU systems.

It is not surprising that the Groestlcoin has received much acclaim from different quarters in the digital currency world.

HOW MUCH IS AVAILABLE?

Considering the fact that Groestlcoin uses a decentralized system, the currency is readily available. Miners can make instant transactions using any type of computer systems.

The current circulating supply of Groestlcoins is 67,242,223 (April 17, 2017)

WHERE TO TRADE

Buying and selling of the Groestlcoin is available on several exchanges including:
• Bitsquare
BITTREX
• Cryptopia

DOWNSIDES

As much as every digital coin has its upsides, the downsides also exist.

There is no digital currency (yet) that provides absolute anonymity and security. However, the Groestlcoin has achieved much to make up for most of these downsides.

The proof of work system which was initially taunted to be expensive and time-consuming is now looked upon in a different perspective thanks to Groestlcoin.

‘Groestlcoin has eliminated all the costly hardware requirements and tremendously reduced the time spent on mining.

TAKE AWAY

Digital currencies are undoubtedly the currencies of the future. With so many digital currencies coming up seemingly every other day Groestlcoin takes its place as one of the leading currencies in the crypto currency space.

Plans are already underway to implement a Groestl algorithm that has features similar to the Advanced Encryption Standard. The aim of this proposed design is to develop an algorithm that utilizes both the hash function and block cipher.

The future looks bright for digital currencies, and Groestlcoin is definitely a part of it.

Written by: stroebel

Cryptolix Trader Notes on Groestlcoin

Groestlcoin has seen a huge surge of buying interest over the last month or so.  We often see this kind of chart action right before a HUGE move in price.  (see Monetary Unit – MUE)

Of course the best time to buy would have been in the beginning of 2017, but the chart action gave a good hint that the price was going to go much higher in early March.  Since then the price has surged 500%.

groestlcoin price chart

Groestlcoin has had a surge of buying interest in the last few month. Is something big afoot?

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Dopecoin Going Higher

Dopecoin: Here to rescue the multi-billion dollar legal drug market? Cryptocurrencies are starting to take center stage in many different capital markets this decade. This boom can be attributed to the

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Dopecoin: Here to rescue the multi-billion dollar legal drug market?

dopecoin cryptocurrencyCryptocurrencies are starting to take center stage in many different capital markets this decade. This boom can be attributed to the rise in anonymous block-chain technologies.

With multiple cryptocurrencies out there, you have to figure out which alternative is tailored to your needs.

With the entrance of Dopecoin into the market, weed enthusiasts all over the world have a found a peer-peer financial network similar to other online payment networks like Paypal and Visa that work similar to the Bitcoin technology.

Dopecoin Info

Dopecoin is a decentralized digital currency launched in 2014 and is somewhat structurally similar to the Bitcoin technology except that the Dopecoin platform provides pseudo-anonymity for its users providing fast and secure digital payments for marijuana enthusiasts globally.

It is designed in a way that no entity or person profits from the platform and therefore attracts no (or very low) transaction fees or costs. Users of Dopecoin can also use an exclusive online forum to meet and discuss matters of trade and solve any challenges in using the currency.

Like Potcoin?

If you have used Potcoin, you will be familiar with the mechanism of Dopecoin.  The main difference is that while Potcoin is designed for obtaining marijuana legally either for medical or recreational purposes, Dopecoin has no concern with the legality issues.

Though transactions are traceable, it uses a coin mixing technique that masks user coins with other user’s coins providing instant laundering at the click of a button.

Just like Bitcoin and other cryptocurrencies, Dopecoin is an equally volatile currency with values fluctuating with the current global markets.  However, this is totally expected with all new digital currencies. Developers are optimistic that the size of drug markets can help stabilize the currency over time.

Merchant and Public Acceptance?

As Dopecoin commands greater presence in social media platforms, it would be to the advantage of merchants to begin accepting Dopecoins as a mode of payment. This would ultimately boost online drug sales and lead to greater profitability in the drug market.

According to Business Insider (http://www.businessinsider.com/potcoin-and-dopecoin-2014), Dopecoin is accepted in two online stores in U.S and two land-based stores in Europe. This is obviously just the beginning of the spread of Dopecoin. Soon more stores might begin to accept it having seen its advantages especially in Europe where marijuana trade laws are not entirely prohibitive.

The Dopecoin Edge In Drug Trade?

The currency is set to perform even better as it is able to bypass legality issues in marijuana prohibited regions. Most importantly, its creators and transactions are anonymous.

Inclusion to the Dopecoin community is based on invitations from existing members. The creator(s) only known as Dopey, ensured that the platform was able to protect users from legal issues across various states having learned from the experiences of the infamous Silk Road.

No Taxes?

Further, the Dopecoin also protects merchants from heavy taxes emanating from cash transactions, employee payroll matters and bankroll issues as a result of stringent federal laws. There is possibility that we might start to see an increase in the number of medical dispensaries with this flexibility in payment.

What About Legality?

The concerns over illegal drug use however, are a will o wisp for the creator as Dopey contends.  To him, the fact that Dopecoins are used in black markets and legal markets alike does not imply his indifference to drug crime.

In fact, he believes that like any other traditional currency, it is bound to be exchanged for unconventional goods but that does not make the currency evil or illegal.

Dopecoin solves the cash store problem for dispensaries and this means less heists experienced. It subtracts the over-reliance on banks as the only safe mode of money storage which of course are not as secure as they are made out to be, and as Dopey told the Huffington Post in 2014, Dopecoin was designed for the multi-billion drug market.

How To Get Started With Dopecoin

Users can get additional information by visiting Dopecoin’s BitcoinTalk page.

To start using Dopecoins, you first need to open a Dopecoin wallet from the homepage just like the Paypal wallet. You will need to set up an account at http://www.bittrex.com/ where Dopecoins can be traded for Bitcoin. Further support can be obtained by contacting support@dopecoin.com via email.

Written by: Merovingian

Cryptolix Trader Notes On Dopecoin

Dopecoin has risen as much as 400% in the last month and buying interest is increasing.

dopecoin price chart

Buying interest for Dopecoin is increasing mid April 2017

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All About BlackCoin (BLK) Cryptocurrency – What’s Special About It?

Digital currencies are fast becoming the optimum choice for many, considering the numerous benefits that they provide.  However, not all digital currencies come with the desired anonymity that most people

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blackcoin imageDigital currencies are fast becoming the optimum choice for many, considering the numerous benefits that they provide.  However, not all digital currencies come with the desired anonymity that most people yearn for.

As a result, cryptocurrency developers have been working round the clock to create a currency that meets all desired specifications.

Subsequent cryptocurrencies such as the ZCoin and BlackCoin have made tremendous strides in sealing numerous shortcomings found in previous money systems.

WHAT IS BLACKCOIN?

BlackCoin, abbreviated as BLK, is a digital currency that uses a proof of stake system to facilitate secure and anonymous transactions between peers.  It is open-source and can be audited by anyone making it completely transparent.

Ever since its development and launch by Rat4 back in 2014, the distribution and user community of BlackCoin has grown by leaps and bounds and has established itself as a future leading contender in the cryptocurrency space.

The BlackCoin system is not only safe, but also one of the fastest in transactions in comparison to other digital currency systems.

WHY THE BLACKCOIN CRYPTOCURRENCY?

The Proof of work system, which Bitcoin uses, has been frowned upon for being expensive and time-consuming. The high costs of the proof of work system emanate from the total sum spent on mining labor and other hardware-related costs.

On the contrary, in a proof of stake system, the total sum of transaction fees is sufficient enough to compensate for bandwidth and storage space.  Unlike most cryptocurrencies, BlackCoin transactions are predominantly fast; transactions take less than 64 seconds to execute. It is not surprising that many people regard BlackCoin as one of currencies of the future.

HOW BLACKCOIN WORKS

Like most cryptocurrencies, the BlackCoin system is relatively technical, but its one of the easiest to learn and make your way around.

All BlackCoin transactions are managed by a network of users. Anyone is free to join this network, as long as he or she is using BlackCoins.  Therefore, as a BlackCoin holder, you are the banker. BlackCoins are generated through minting. Every BlackCoin account generates a stake interest of 1% annually to keep the system secure.

WHAT IS GREAT ABOUT BLACKCOIN?

The BlackCoin network has a number of great features, making it one of the best cryptocurrencies in recent years. The Proof of stake system allows users who stake to secure the network to enjoy unrivaled interest rates of up to 5% per year, depending on the weight of the network.

The fact that the system is decentralized makes it more secure. Previous money systems were susceptible to hacking and unauthorized access. However, thanks to the NightTrader feature found in the BlackCoin network, all these security breaches are now things of the past.

Anonymity and Privacy

While digital currencies seek to address privacy issues, not all systems work as desired. However, by using the Legionnaire feature found in the BlackCoin system, users can enjoy the ultimate anonymity that comes with stealth addresses.

Smart Contracting through the BlackHalo feature is another enticing feature found in the BlackCoin network. The BlackCoin is the first digital currency to integrate smart contracts in its system.  With the BlackHalo the days of digital theft are in the past.

Low Transaction Fees

To round off its benefits, the BlackCoin has a minimum transaction fee of 0.0001BLK. Its inflation rate stands at 0.95%.  Additionally, its proof of stake system eliminates the need for miners. Users have total control over their accounts, as there are no intermediaries required.

HOW MUCH IS AVAILABLE?

The initial distribution, which used the Power of Work system, had a limited supply of not more than 75 million coins. With the inflation rate of just under 1% as noted above, the current supply currently stands at approximately 76 milion coins.

DOWNSIDES

Users of digital currencies are yet to appreciate the essence of the BlackCoin fully.  Skeptics are of the view that the Proof of stake system is not fully workable. However, the BlackCoin has done tremendously well to dispel this notion. Additionally, the numerous benefits of using the BlackCoin makes up for most of its downsides, if there are any.

Where To Buy/Trade BlackCoin

(a trader’s view – by Cryptolix)

The majority of the buying and selling of BlackCoin is currently on the Poloniex Exchange, but there are at least a dozen other cryptocurrency exchanges where traders are buying and selling on a daily basis.

Volume has picked up over the last week or so (as of April 6, 2017) and it appears that this coin is starting to come under some serious accumulation by heavy hitters.

Our favorite place to trade BlackCoin is on the Bittrex exchange.  You can see our screen shot of the One Hour chart of Blackcoin below.  (chart image taken April 6, 2017)

This chart action reminds us somewhat of Monetary Unit – MUE a few weeks back before it increased in price by 1000%.

blackcoin cryptocurrency chart

BlackCoin has made a nice pullback from its recent highs and this looks to be an excellent spot to either establish a position or add to existing ones.

 

TAKE AWAY

Only a few digital currencies are considered almost completely safe and provide the anonymity that is suitable for online money transactions. The fact that you can send money to anyone in the world in a matter of seconds makes digital currencies more appealing.

In view of the current and future currency prospects, it is just a matter of time before cryptocurrencies replace conventional coins and notes and BlackCoin is striving to be one of them.

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