Monthly Archives: July 2016

Top Ten Cryptocurrencies By Market Cap Week Ending 7-31-16

Not much changed since last week. Bitcoin still remains reigning champion. Ethereum is far behind in second. Steem is in third followed closely by Ripple in fourth.  Litecoin maintains the fifth position and maintained stability in the price category, holding strong at $4.07 USD. Ethereum Classic is in sixth and shows a nice price increase rising from .93 cents USD last week to $1.82 this week. . Dash takes the seventh position and also shows a small price increase of .06 cents USD. Nem stays in 8th, followed by MaidSafeCoin in ninth. The only change this week in position will be Lisk, falling to eleventh and being replaced by Nxt who now maintains the tenth position.

Ethereum Classic showed the best bang for your buck almost doubling in value over the week. Dash, MaidSafe, and Litecoin maintained value showing minimal gains but maintaining price stability since the previous week.

With the announcement of ARDOR for Nxt snapshots. I can only speculate, but the announcement seems to be a success and I think we will see continued growth in this market from now till October, unless excitement for Ardor fades.

It’s also worthy to mention the fight for tenth continues. With Lisk in the eleventh position, followed by Dogecoin in twelfth, and Monero in the thirteenth slot. All three coins are strong stable markets and hold a market cap within a few thousand dollars of each other.

For more coins listed by market cap, check out coinmarketcap.com.

Market cap totals

Cryptocurrency coin market cap for week ending 7-31-16

Disclaimer: Coin market cap top ten is posted for reference and commentary. Nothing in this blog is meant as financial advice. All posts are opinion and solely posted for the purpose of discussion. Seek a duly licensed financial professional for investment advice, not some jackass on the internet who calls himself The Dood! Happy trading !

The Dood Interviews Allan Raicher of Coinsyde

Coinsyde screenshot

Screen shot taken from website. coinsy.de

One of the great things about being The Dood, is that I get to meet all kinds of great people in the cryptocurrency space. Recently, I had the pleasure of meeting Allan Raicher of the Coinsyde project. After checking out his website and talking a bit on twitter he agreed to give me a little info about what him and his team are working on. He is limited on what he can talk about before the release, but the website, and our twitter conversation did peak The Dood’s interest. Thank you Allan Raicher for taking the time to answer my questions and sharing your time with me and my readers.

BitcoinDood: First, thanks for taking the time to do this interview. I have to admit, I found this interview a bit difficult to put together. I know you are limited on what you can reveal about the company before launch and I completely understand that. I also found it kind of fun, because there currently is a little mystery about the project and what the project will be trying to accomplish in the not so distant future. So, I guess based on that, could you please tell the readers who you are, and what your relationship is to the coinsy.de project.

Allan Raicher: Hello, Dood! My name is Allan Raicher. I’m a Brazilian tech entrepreneur, currently investing in some projects in Silicon Valley. I’ve been a Bitcoin enthusiast from the beginning and have decided, recently, to become more than an enthusiast. So, I became the founder of Coinsyde. My plan is to remodel the Bitcoin scene by providing something like a “centralization of the decentralization”, so to speak.

BD: I love the clean look and design of your website. Currently there’s not a lot of information there other than the company logo that reads Coinsyde – The Bitcoin Social Network. I’m guessing from the logo, you are planning a social network, without giving away any company secrets could you elaborate more on the project, and what we might expect?

As of late, revenue sharing social sites like Tsu, steemit, and bitlanders have become all the rage. Bitcoin seems to be the perfect fit for that type of a platform. Will the site be incorporating any type of revenue share for it’s users? If so, please tell us all you can 🙂

A.R: Well… money already IS a Social Network, if you think about it. It provides a medium for interaction between individuals. Only thing is… there’s a place for this interaction to take place. It’s called “The Marketplace”. The lack of a unified marketplace, or an identifiable environment for bitcoin users (mainly because of Bitcoin’s intangibility as a currency and as a concept) is detrimental to the slow adoption we’ve seen so far. That’s where we want to act. If you think about it, Bitcoin has a huge Marketing problem.

BD: Your website makes the bold statement, “Together, we’ll make Bitcoin become mainstream! Launching soon!”

I love that statement. So many people are waiting for the perfect app that catapults cryptocurrency into the mainstream. Many people say bitcoin is the app, but I’m of the belief that bitcoin is the protocol. Like SMTP is the mail protocol for the internet, at one time sending an email wasn’t as simple as using a Gmail account. Especially if you go back 20 odd years ago when people used programs like Pine to send email from a command line. It was easy for a nerdy tech type but the average person found it daunting and intimidating to use. I think bitcoin is kind of the same way right now. In the early days of the internet, companies like AOL and COMPUSERVE made the internet easy for the average person to utilize all the features the internet had to offer, and then Facebook and Google came along and made it almost foolproof. I think bitcoin is still waiting for that killer, foolproof app or platform that makes it extremely easy for my 80 year old grandmother to send birthday money to my cousins on the other side of the country. Is this what we’re talking about? Are we talking about the perfect app or platform here? Please tell us as much as you can!

A.R: I agree that even the cleanest wallet designs can’t be understood by a total newbie. But the mass adoption problem is not necessarily a “usability” problem. People can adapt pretty easily to the most complex app structures. Facebook is a perfect example. We had to learn how to use it. My 85 year old grandmother uses it every day 😉

I’ve been obsessed with this idea of a “killer app” since my first interactions with bitcoin. People usually talk about this “killer app” like something abstract. It’s not! I have the same belief: Bitcoin is the protocol. We need to create the marketplace by connecting it’s users. THAT’S the killer app: a useful and popular medium to use Bitcoin, connecting it’s users with a beautiful design.

Some say “bitcoin is like a Swiss bank in your pocket”. IT IS! But the world today is filled with “bankers” that don’t interact with other “bankers”. That’s not powerful at all! Why don’t we connect EVERYONE and provide financial social power to the world? No bank can compete with this.

BD: Your twitter page says that the launch date will be 2016. We’re halfway through the year now, leaving a little under 6 months left. Can you narrow down the time line and give us an idea of when the network will be available to use? (On a side note, if your looking for beta testers feel free to contact The Dood 🙂

A.R: Probably October. I think it’s doable, since we are already refining the app. Thing is: we’ll need a LOT of word of mouth till October! Our business is actually a campaign for Bitcoin! Can you imagine how valuable Bitcoin would get if everybody could simply connect? 😀

BD: Currently, Google + and Facebook are the big boys on the block when it comes to social networking. Will the site be in direct competition with these behemoths? I’d also love to hear about any features the site will offer as far as posting, file sharing, chat, messaging, or any information you can divulge about the platform itself

A.R: We don’t want to navigate this red ocean. Since Facebook and other players already connect people with similar interests, we plan to use their platforms to help us reach our base. We’ll be connected. But we don’t plan to compete with them.

BD: Your website shows both Android and iPhone apps coming soon. Is the platform geared mainly towards mobile users, or will it be web browser accessible too?

A.R: We’ll start with mobile, and we’ll add more environments as time goes, of course.

BD:Here’s the question I’ve been dying to ask. Are we talking bitcoin wallet integration directly into the platform?

A.R: Yes. We’ll start with a great (and safe) wallet (and hopefully, the most beautiful and user friendly) as an app. Once we reach our first milestones (user base), we’ll start to introduce several interaction possibilities between peers or even between groups of individuals (I’m sorry I can’t give you more details just now! Sorry, sorry sorry!).

BD: The site seems geared mainly for bitcoin users are there any plans to integrate other cryptocurrencies into the platform? If so which ones ?

A.R: Definitely! Ethereum and Litecoin are serious candidates.

BD:OK, I ask everyone the same last question. Where do you see cryptocurrency going in the future? Any thoughts, visions, or predictions you might want to share about the future of cryptocurrency in general and where this is all heading?

A.R: To the Moon? haha. Well, as an entrepreneur, I try to think how can I provide the world with solutions to their problems. As an ideologist, I see Bitcoin (and public blockchains) as the BEST alternative to a jurassic financial system. The quality of financial inclusion and prosperity that Blockchain technology can unleash is simply unbeatable. Banks made a lot of sense during the 19th and 20th centuries. They don’t make sense anymore. I believe we can achieve a radical improvement in well-being by shifting the financial powers to the crowd. We use a golden “=” as our icon, to symbolize our moto: “CAPITALISM for ALL”.

Thank you so much Allan Raicher of Coinsyde! I’m really curious to see what you guys unveil in October. I hope you keep The Dood up to date, and give me another interview when the project is released to the public.

You can follow and keep up to date with the Coinsyde team using the below links

The Top Cryptocurrency Stories Of Last Week!

Last weeks news.

Last weeks news recap.

As always, a lot happened in the world of cryptocurrency last week. These are just a few of the stories The Dood found interesting. If you like these stories and find them interesting. Please check out my twitter feed for the latest news, and happenings in the sphere of cryptocurrency and bitcoin.

Allegations surface that Coinbase, one of the largest U.S. companies to buy and sell bitcoin is secretly tracking their users bitcoin transactions.

Complaints Against Coinbase’s Practice of Tracking Transactions Resurface

Bitcoin.com reported that the guys from Bitcoin Uncensored crashed a OneCoin seminar in Miami and asked some interesting questions about the possible scam.

OneCoin Event Gets Crashed by Bitcoin Uncensored – Interview

Charlie Shrem CEO of BitInstant has been released from prison. Many people in the community feel Charlie was railroaded, and his case set a new precedent for people buying and selling bitcoins. While the executives at big banks get caught red handed laundering billions of dollars in drug money and nobody goes to jail. Charlie sold some bitcoin to a guy that was dealing on the darkweb and ended up going to prison for it.

Charlie Shrem Is Home From Prison and Moving ‘Onward’

A new resolution submitted to the US House of Representatives calls for the development of “a national policy for technology” that would include digital currencies and blockchain technology.

Congressional Resolution Calls on US Government to Support Blockchain

As bitcoin and cryptocurrency grows so does the governments interest it. Thailand among several other countries are looking to increase regulation into the fintech industry.

More Fintech Regulation Is Coming To Thailand

Just when The Dood thought all was lost MojoCoin made the announcement that they were back, active, and ready to make things right with MojoCoin. Apparently the main dev was hospitalized and has now returned, and back to work on the project. I’m working on getting an interview with these guys. In the spirit of disclosure, The Dood did buy some of this ICO and is still currently invested. You can get the latest MojoCoin news from their twitter stream.

https://twitter.com/Mojodevs

The Merkle reports Venezuela’s largest bitcoin exchange is back open for business. SurBitcoin had their accounts frozen after a customer complained about a delayed withdrawal.

Venezuela’s Biggest Bitcoin Exchange Resumes Operations

The popular bitcoin wallet Mycelium has announced integration of DASH. Mycellium is a really popular bitcoin wallet and this is huge news for the DASH community.

Mycelium Wallet Will Soon Integrate Dash

A lot happened last week. For more great stories and the latest happenings in the crypto space, check out my twitter feed here. You can also follow The Dood on Tsu.

Top Ten Cryptos By Market Cap Week Ending 7-24-16

Bitcoin the reigning champion maintains a comfortable lead over all other cryptocurrencies. Ethereum in second place, followed by Steem in third. Ripple is in fourth with a market cap of $223,008,534 followed closely by Litecoin in fifth.

Ethereum classic replaces The DAO in sixth, and DASH overtakes NEM for the seventh position, with NEM maintaining a comfortable lead in eighth with almost double the market cap of MaidsafeCoin now currently in ninth position. Lisk maintains its position at the bottom of the top ten for the second week in a row.

It should be noted that Emercoin is catching up for the tenth position currently in eleventh and Doge has been pushed down to twelfth followed closely by Nxt in thirteenth. I think we’re going to see an interesting fight for the tenth position over the next few weeks.

top ten cryptocurrency market cap

The cryptocurrency top ten by market cap for the week ending 7-24-16

Check out coinmarketcap.com for a complete list of hundreds of cryptocurrencies ranked by market cap and trade volume.

 

Upgrading The ROKOS OKcash Wallet

So that time finally arrived. It was time to update my OKcash wallet for my ROKOS Raspberry Pi. For those that don’t know, ROKOS is a Linux based operating system and if you’re not used to working with Linux it can be a bit daunting. I’m happy to report that my OKcash wallet upgrade Ver 3 to Ver 4.0.0. was smooth and painless. If I can do it, anyone can!

Old OKcash wallet

OKcash Version 3 wallet

The Dood’s a bit paranoid when it comes to updates and upgrades, so for safety reasons I transferred all my coins to a different wallet.  Once I knew all my coins were safe I closed my Ver 3 wallet and did a quick update of ROKOS flavors. From the command line just type :

sudo apt-get update

Once I made sure everything was updated, I then did a quick upgrade. Again, from the command line just type:

sudo apt-get upgrade

When everything was updated and upgraded I did a quick reboot just to make sure everything was working OK and the updates and upgrades were working alright.

Now I downloaded the wallet upgrade zip file on my laptop and put the zip file on a USB drive. You don’t have to do that and you can download right to your PI if you want. I downloaded the files from here.

https://github.com/okcashpro/okcash/releases/latest

You want to download this file Okcash_4.0.0.0_raspberrypi.zip

Once you download the file, go to your downloads folder and extract the zip file. All you do is double click the zip file and ROKOS will open Xarchiver to extract the files. It doesn’t really matter where you extract the files. By default they’ll extract to whatever folder you’re currently in. I extracted the files to

/home/pi/OK-update

Xarchiver extracting the OKcash wallet files.

Double click on the file and Xarchiver will open and extract the files for you.

Once your files are extracted you want to open a terminal window and cd to the folder with the extracted files.  /OK-update is the folder I extracted to, you want to cd to wherever you extracted your files ex: cd /YourFolderNameHere

cd /OK-update

I then followed the instructions found here.  Here’s the commands I used.

sudo chmod 755 okcash

sudo chmod 755 okcashd

sudo cp okcash /usr/local/bin/

sudo cp okcashd /usr/local/bin/

Once I finished, I again rebooted my Pi. Upon reboot I opened the wallet. It took a couple minutes to open this time. Once the wallet opened it only took a couple more minutes for the blockchain to sync and it was ready to receive OKcash.

New OKcash wallet version 4.0.0

OKcash wallet version 4.0.0 Updated and upgraded, and ready to stake.

I sent a test of about 10 OKcash. Once I knew it was working properly I transferred the rest of the balance. Now time to get staking!

Final comments:

For the most part this was quick and painless. I’m really happy with the new wallet so far. I was hoping with the updated version the issue with showing the balances would be fixed, but this is still a small inconvenience. To see your coin balance you still have to go into coin control to see the balance. Outside of that the wallet seems to be working great. Props to Oktoshi and the ROKOS team for another job well done! Can’t wait to get the new Pi3 or PIne64 and try out ROKOS v6 Magic Flavors!