Category Archives: Crypto Currency

Interview with Steven Saxton, Founder and Lead Developer, EverGreenCoin

1. EverGreenCoin (as described on your  facebook page) is an X15 algorithm PoW / PoS hybrid crypto currency. Are there many other coins that use this configuration? Why did you choose this particular hybrid?

EverGreenCoin (EGC) was literally designed from the ground up to be environmentally friendly. There are other coins that are X15 PoW / PoS hybrids, but few have the same structure of a foundation being funded by a small portion (2%) of the miners work and none have the same intent and exact same distribution and hence, coin supply.

X15 was used because at the time of creation it was not invaded by ASICs.ASICs are machines designed specifically for PoW mining that consume as much electricity as possible in an attempt to gain a disproportionately large amount of the distribution of coins. X15 ASICs are now readily available but fortunately were not before EverGreenCoin’s PoW phase had ended. Had the EverGreenCoin’s PoW phase lasted just a few weeks longer, people would have been able to mine EverGreenCoin with ASICs and that enormous consumption of electricity was avoided in EverGreenCoin’s name.

CryptoCurrency For the Rest of Us

By now you have heard of Bitcoin or know someone who has. Bitcoin began the year at $430; it is now around $610 after peaking at $783. How are your stocks doing?

For the uninitiated, Bitcoin, and other digital currencies (aka crypto currency or altcoins), is at its core simply a line of code, the transaction, residing on more lines of code, the Blockchain. The Blockchain is Internet-based and is responsible for enabling Bitcoin to function as a global exchange.

The initial killer benefits of trading crypto currency include: instantaneous transactions, nominal fees, no banks or third parties, and no government.

Bitcoin is a global currency. Sending Bitcoin to someone in another country is no more costly than spending it at the local pub.

Bitcoin was the first digital currency though certainly not the last.
CoinMarketCap lists over 300 alt coins that trade daily and over 700 total.

Today at sites like Bittrex.com and Poloniex.com you can now Bitcoin to trade many of these other cryptocurrencies. Dollars, Euros, etc. are currently not allowed. To “play” on these exchanges you need to turn your FIAT currency into Bitcoin and then transfer the Bitcoin to the specific exchange of your choice. In the US this means registering with a US-based exchange like Coinbase or Gemini.

Crypto Currencies are the New Penny Stocks

Like penny stocks this is very risky stuff. You could loose your entire investment under the following circumstances:

  • The company goes bust or it was a scam to begin with;
  • You’re hacked;
  • You forgot the password to your digital wallet and did not back it up.

As with the trading of Penny Stocks many of the same rules apply:

  • Don’t play with more you can afford to lose.
  • Set your price with a limit order.
  • Do your own due diligence

A certain technical expertise is required to participate. In the old days we would say if you can program your VCR you’re ok, today the equivalent is if you can trade stocks from your phone, you can figure this out.

Also as a final word of caution, like Penny Stocks, most are crap and you could lose considerable amounts quickly. Start small and learn how to transfer the different coins to you own digital wallet. Lastly, it is never wise to leave large amounts of currency on the exchanges (Mt Gox and Bitfinex are two lessons learned.)

Useseful Links

The following are some useful links to get started:

Crypto-Currency Market Capitalizations (Top 100)
https://coinmarketcap.com/

Crypto-Currency Due Diligence
https://www.coingecko.com/en

AltCoin Discussion Forum
https://bitcointalk.org/index.php?board=67.0

CryptoCompare (Forums, Coin Descriptions, Prices, Portfolios)
https://www.cryptocompare.com/

Top 10 Commandments of Trading Cryptocurrency
https://www.coinpursuit.com/pages/top-10/

Top Digital Currencies by Market Cap as of 10/2/16
(According to CoinMarket Cap and coincap.io)

$100m and over

Bitcoin (BTC) – https://bitcoin.org/en/

Ethereum (ETH) – https://www.ethereum.org/

Ripple (XRP) – https://ripple.com/

LiteCoin (LTC) – https://litecoin.org/

Monero (XMR) – https://getmonero.org/home

EtheriumClassic (ETC) – https://ethereumclassic.github.io/

$10m and over

Dash (DASH) – https://www.dash.org/

Steem (STEEM) – https://steem.io/

NEM (XEM) – http://nem.io/

MaidSafeCoin (MAID) – http://maidsafe.net/

DigixDAO (DGD) – https://digix.io/

Dogecoin (DOGE) – http://dogecoin.com/

Lisk (LSK) – https://lisk.io/

Factom (FCT) – http://factom.org/

Waves (WAVES) – https://wavesplatform.com/

Stellar (XLM) – https://www.stellar.org/

Emercoin (EMC) – http://emercoin.com/

BitShares (BTS) – https://bitshares.org/

Synero (AMP) – http://www.synereo.com/

SingularDTV (SNGLS) – https://singulardtv.com/

Peerplays (PEERPLAYS) – http://www.peerplays.com/

Nxt (NXT) – https://nxt.org/

Counterparty (XCP) – http://counterparty.io/

$5m and over

Bytecoin (BCN) – https://bytecoin.org/

Siacoin (SC) – http://sia.tech/

ShadowCash (SDC) – https://shadowproject.io/en

Storjcoin X (SJCX) – http://storj.io/

Peercoin (PPC) – https://www.peercoin.net/

Tether (USDT) – https://tether.to/

GameCredits (GAME) – https://onlinegames.credit/

Bitcrystals (BCY) – http://bitcrystals.com/

Agora Tokens (AGRS) – http://www.idni.org/

I/O Coin IOC – http://iocoin.io/

YbCoin (YBC) – http://www.ybcoin.com/

There are 34 total coins with market caps over $5m. Those under $5m total around 450.

Top Exchanges to Trade Altcoins

Bittrex.com Based in U.S.

Bleutrade.com Based in Brazil

C-Cex.com Based in Germany

Kraken.com Based in U.S.

Poloniex.com Based in U.S.

Yobit.net English Russian and Chinese Translation (Russian business, Registered in Panama, Using server in San Francisco)