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Showing 20 of 55 results by Cryptomindset
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Topic
Board Bitcoin Discussion
Topic OP
Do you think IOTA has the potential to dethrone Bitcoin? And why?
by
Cryptomindset
on 13/05/2019, 00:33:32 UTC
 I do not think IOTA has the potential to dethrone Bitcoin. At the moment IOTA does not even have a working product. They can handle 25 TPS (significantly more than Bitcoin) and provide free transactions only because the IOTA Foundation runs a closed source Coordinator node that is completely responsible for determining what transactions get added to the Tangle. This is how they solve the double spend problem and provide security to the network. However, this is no better than if I were to create a cryptocurrency by hosting a MySQL database behind an Nginx server I control. I could make similar claims to the IOTA Foundation in support of this cryptocurrency. I could provide free transactions, I could say I could way out-scale Bitcoin, Ethereum, and any other decentralized cryptocurrency, and I could boast about the much smaller environmental footprint of my centralized setup.

Bitcoin has the obvious first mover advantage and they are completely different in too many ways to list here. A good way to see Bitcoin is like physical gold. Yes, it's money, but are you going to use it to buy a cup of coffee? Difficult to use for small transactions, but a definite store of value. Based on the blockchain protocol so at present, unhackable. IOTA was designed differently, and for a different purpose

Nonetheless, do you think IOTA can dethrone BITCOIN
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Topic
Board Altcoin Discussion
Re: IOTA Tangle vs Blockchain
by
Cryptomindset
on 13/05/2019, 00:18:47 UTC
As of now, I would say blockchain for a few reasons. First off, Tangle it is not as proven or tested. IOTA has not had nearly the amount of users that Bitcoin has. Actually, MIT even released a post about some of IOTA’s vulnerabilities after some testing, which IOTA has since fixed, they claim
Post
Topic
Board Altcoin Discussion
Re: Is IEO Profitable than ICO's?
by
Cryptomindset
on 13/05/2019, 00:09:03 UTC
In an IEO there is more authenticity than an ICO. Since it is hosted on an exchange platform, both the investors and the developers will be checked for their authenticity.
The investors stand a lower chance of losing their funds because the whole process undergoes strict verifications
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Topic
Board Altcoin Discussion
Re: Anyone who use mobile wallets?
by
Cryptomindset
on 12/05/2019, 23:52:03 UTC
It dependes on your purposes. If you are making payments in person and not online then a mobile wallet is a must. If you will need to make frequent payments then it will be best to keep your funds in wallet that is easy to use and accessible. Mobile wallets and desktop wallets are good options.

Use a mobile wallet as your checking account, and a hardware or secure offline wallet as your savings account. Mix and match to find a combination that provides both security and accessibility
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Topic
Board Altcoin Discussion
Re: Best alts masternodes to invest in
by
Cryptomindset
on 12/05/2019, 23:35:54 UTC
Dash is the oldest and the most popular masternode in the cryptocurrency market. It always ranks at the top of the masternodes list. Dash paved the way for the masternodes by developing distinctive incentives for the masternode service providers. A trader requires 1000 Dash to launch a masternode and Dash gets 45% of the block reward. Dash works like the bank deposits, exhibiting the anticipated prediction. Dash is generally considered less risky
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Topic
Board Altcoin Discussion
Re: Ethereum is better than Bitcoin?
by
Cryptomindset
on 12/05/2019, 23:24:58 UTC
While Bitcoin is a (somewhat) good store of value, and was the first blockchain-based cryptocurrency, it really doesn't compare to Ethereum when it comes to long-term potential.

Bitcoin is for holding and storing value, while Ethereum isn’t just a currency. Its primary goal is to create a world computer, with decentralized applications utilizing its blockchain. These apps will need Ether (the currency created by The Ethereum Foundation) to run, which as adoption increases will increase the cost of Ether through demand.

Bitcoin can't say as much. It is already being superseded technology-wise by other currencies, and has very little real-world long-term value. Yes, it can store value, but other currencies can do it better, faster, and with more privacy
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Topic
Board Altcoin Discussion
Re: Wallet hacking is it possible?
by
Cryptomindset
on 12/05/2019, 23:13:48 UTC
Yes, if by hack you mean somehow get access to someone’s wallet. Your private key can be stolen like any other password.

No, if by hack you mean generate a private key for an existing public key. Till now no one can. It can be done by brute force but that will take impractical amount of time.

I can’t say the same for all crypto, but all the major currencies is next to impossible to hack
Post
Topic
Board Altcoin Discussion
Re: What is your definition of shitcoin?
by
Cryptomindset
on 12/05/2019, 22:57:27 UTC
Shitcoin is any cryptocurrency that is disliked by the person talking about it. It could be any coin that is not bitcoin, or a coin that lacks any new or advanced technology, or a coin that has become worthless after launch. Shitcoins are often identified by a specific pattern that they follow. First, the coin launches to some interest, but the price remains relatively level. Then, the price increases exponentially over a short period of time as investors pour in. This is followed by a nosedive, as investors dump their coins to capitalize on short-term gains
Post
Topic
Board Mining (Altcoins)
Re: ASIC or GPU mining?
by
Cryptomindset
on 11/05/2019, 15:50:33 UTC
Crypto mining hardware can make or break your cryptocurrency mining venture. It is, thus, essential that you choose the right hardware to make the most out of your cryptocurrency mining journey. If you want to mine multiple currencies, GPU is the right choice for you. On the contrary, if your focus is on mining a single cryptocurrency, ASIC cryptocurrency mining hardware are certainly your thing
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Topic
Board Mining (Altcoins)
Re: The Antminer S17 Pro: Is it worth buying?
by
Cryptomindset
on 11/05/2019, 15:04:33 UTC
the low energy consumption ratio and advanced performance are the two main advantages of the Antminer 17 series miners. Compared to existing mining rigs, the new Antminer S17 series can greatly improve mining profit, making previous mining rigs less competitive
Post
Topic
Board Mining (Altcoins)
Re: Antminer Z9 support on Nicehash?
by
Cryptomindset
on 11/05/2019, 13:57:24 UTC
the asic should be fine. i'd be more worried about zcash and/or other equihash coins forking therefore affecting the purchasing of hash power from nicehash resulting in negating the effectiveness of the asic itself within nicehash (if you plan to not mine coins directly with the asic vs pointing the hashing power to nicehash).
Post
Topic
Board Mining (Altcoins)
Re: Need suggestions on building mining rig
by
Cryptomindset
on 11/05/2019, 13:24:47 UTC
Building mining rigs specifically for Bitcoin is not profitable anymore. What you can do though is build a mining rig that mines “alt coins.” Alternative coins are just like Bitcoin, in the sense that they too use a blockchain.

People are making a lot of money right now mining Ethereum. I’ve personally built 4 different mining rigs, and I’m seeing an income stream of around $2000 a month.

Building an Ethereum mining rig isn’t that difficult. You are simply building a computer (which is very easy to do if you watch a few videos) that consists of 5–7 GPUs (Video Cards).

The GPUs are the most important part of the rig. Using special mining software, the GPUs calculate mathematical algorithms, and are rewarded for each block with a little bit of the coin that they are working on.

Another important part of the rig is the motherboard. The motherboard has to be able to house 5–7 GPUs. To plug in the GPUs, you’ll need PCI Risers.

Right now, a lot of GPUs and motherboards are sold out ever since people discovered how profitable mining can be.
Post
Topic
Board Altcoin Discussion
Re: Which is the best and safe wallet for my LTC?
by
Cryptomindset
on 30/04/2019, 22:59:58 UTC
One of the safest i can think of is the Ledger Nano S is the most popular hardware wallet available, and it supports Litecoin.

If you have a lot of Litecoins, this is the most secure and robust way to store them. It not only allows you to control your private keys, but they are also controlled in an offline environment. It comes with an inbuilt OLED screen, a backup seed key, and a pin code feature. This is how you can restore your funds in case something goes wrong with your hardware device
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Topic
Board Altcoin Discussion
Re: 5 Ways to Earn Crypto without investing or mining
by
Cryptomindset
on 30/04/2019, 22:48:54 UTC
Yes there is way to earn crypto currency without any investment that is by participate in

Airdrop

Bounty program

Airdrop is a promotional marketing strategy which is opted by the most of the ICO to create the market hype and to enahr the community. Usually in order to participate you just have to join Telegram channel of respective ICO and by liking the social handles but it can also vary from ICO to ICO.

Bounty Program is another way of creating the market hype and engaging the community for the longer time period. In bounty program you have to promote ICO on your social handles, in depends on the participants, in which (s)he is interested. Generally it includes promotion on Facebook, Twitter ,BTT, Reddit and Medium
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Topic
Board Altcoin Discussion
Re: Why is Binance Coin a good choice to HOLD?
by
Cryptomindset
on 30/04/2019, 22:38:57 UTC
Binance is actively trying to capture institutional capital, is creating fiat-crypto gateways all over the globe, will launch a second and decentralized exchange, has a token economic model based on increasing demand whilst reducing supply, and is the industry’s favorite exchange position. This all provides the BNB token with a strong case as to why it still is a solid token to hodl even though times are tough for the industry financially.

It will be an even more exciting coin to hodl once the bulls will return and institutional capital will start flowing into the space through Binance
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Topic
Board Mining (Altcoins)
Re: Best motherboard for mining
by
Cryptomindset
on 30/04/2019, 22:03:33 UTC
Thanks to its extremely solid build quality and slots for up to 13 GPUs, the AsRock H110 BTC+ is one of the best mining motherboards you can buy today. These features allow you to expand as needed, so you won’t find a much better future-proof board. It might be a bit overkill, as Windows 10 only supports eight GPUs, but there’s no harm in preparing for future updates. The AsRock H110 BTC+ may not be the best motherboard for mining if you’re a beginner, but if you’re looking for a more advanced platform – you can’t go wrong with the AsRock H110 Pro BTC+.
Post
Topic
Board Altcoin Discussion
Re: 6 Reasons why IEO is better than ICO
by
Cryptomindset
on 30/04/2019, 20:51:28 UTC
One of the main advantages of IEOs is trust. As the crowdsale is conducted on a cryptocurrency exchange platform the counterparty screens every project that seeks to launch an IEO on its website. Exchanges do this to maintain their good reputation by carefully vetting token issuers. Therefore, IEOs can eliminate scam and dubious projects from raising funds via cryptocurrency exchange platforms, and it becomes much harder to scam contributors with IEOs.
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Topic
Board Altcoin Discussion
Re: Will NEO become strong?
by
Cryptomindset
on 30/04/2019, 06:53:38 UTC
I would invest in NEO for two reasons,firstly Neo is more advanced in terms of code. Secondly, Neo will not be charging extrotianate fees in the future, like the founder of Ethereum plans to action.
Neo is a solid cryptocurrency that is Chinas national crypto and is an infastructure crypto, so new cryptocurrencies can be based off the advancements of NEO!
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Topic
Board Bitcoin Discussion
Re: Why Bitcoin can't be banned
by
Cryptomindset
on 28/04/2019, 00:10:27 UTC
I think we are talking about two different things here.
Bitcoin can't be banned as a technology because you can't prevent people for using it, it's available for everyone. But the other thing is that governments could put the use of Bitcoin out of the law so that it becomes illegal. So, basicly you could always use Bitcoin because all technologies, sofwares and devices are available to you but you will be doing it on illegal way if some governments adopts the law against Bitcoin.
To my opinion there is no fear of banning Bitcoin because most governments, at least in developed countries, are aware that Bitcoin and cryptocurrencies can't be marginalized anymore.
Thanks for the objective outlook with regard as to if or not bitcoin will be banned, Government regulations and alternative factors can certainly increase as bitcoin  becomes more widespread, cryptocurrencies are presently in a very well legal status within the US. Countries like Japan have embraced crypto greatly - it's going to be interesting to see the market effects of countries increasing regulation, however as of currently I do believe the notion that it cannot be stopped.
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Topic
Board Altcoin Discussion
Re: Do your research before investing in ICOs
by
Cryptomindset
on 27/04/2019, 23:24:59 UTC
It is absolutely necessary to do thorough research when aiming at investing in a particular ICO, and there are many factors to be taken into consideration here. ICO allows projects a means of getting around the typical method that consists of pitching to venture capitalists or banks for financing, which is a time-consuming and difficult process. ICO is an example of financing democratization – everyone can invest what they want and potentially receive huge ROIs, although at high risk of losing all their investments.