abskvyas's Profile




  • Asked on September 15, 2018 in Cryptocurrency.

    Why are the Cryptocurrencies so popular

    Cryptocurrencies are gaining popularity due to a wide variety of reasons. The foremost among those is that it makes transactions extremely simple and quick, at little to no cost. Unlike bank transactions which require fees, you could choose to use cryptocurrency to immediately pay someone in a different country even and without any transaction fees.

    As an instrument of investment. As they are completely decentralized, you could theoretically store a chunk of your money in form of cryptocurrencies, and then divest them at a time of your convenience. They neither depreciate like physical assets, nor do they require any maintenance costs.

    Cryptocurrencies also are expected to have a place in the upcoming IoT economy or as it is more popularly known, the machine economy. It is expected that smart machines around you will use cryptocurrencies as a means to carry out their functions without human intervention.

    For example the cleaning robot in your house will place an order for floor cleaner without any interference from your side and pay via cryptocurrency.

    • 1 answers
    • 0 votes
  • Asked on September 15, 2018 in Cryptocurrency.

    The main costs associated with mining Bitcoins are equipment and electricity. Buying powerful processors is one of the major expenses, but they last a relatively long while and don’t need regular replacement.

    On the other hand, electricity is a constant requirement, so it makes sense to set up a mining operation in a place where electricity prices are low.

    But all of this is only important if you know that mining Bitcoins will be profitable. The first step to mining is to figure out if there is any profit to be derived, or if attempting a mining operation is simply a waste of time and money.

    How to Start Bitcoin Mining

    • Step 1 – Calculation – Is Bitcoin Mining Profitable?
    • Step 2 – Buying a mining rig
    • Step 3 – Get a Bitcoin wallet
    • Step 4 – Get mining software
    • Step 5 – Joining a mining pool
    • Step 6 – Start Mining


    Step 1 – Calculation – Is Bitcoin Mining Profitable?

    In the early days of Bitcoin mining, people could easily mine with a mid-to-high end Graphics Processing Unit (GPU). However, as the popularity of Bitcoin increased, more and more people took up mining professionally. Now, given the amount of time and power it takes to mine Bitcoin, the first thing you need to figure out is if your investment is worthwhile.

    There are three variables you need to take into consideration.

    Hashing power is a measure of how powerful your mining rig is. Hashing power is measured in Hashes per second, and the best mining rigs usually have a processing power measured in Gigahashes per second or even Terahashes per second. The more powerful the rig, the faster the mining will progress.

    Mining rigs consume electricity proportional to their processing power. The more powerful rigs draw in large amounts of power per hour, and all that power used costs money.

    So this is the calculation you must perform before you decide to start mining. If you want to invest a certain amount of money into mining, the first step is to make sure that the Return on Investment is enough. After all, what’s the point of mining if it’s not going to turn the profit?

    There are plenty of profitability calculators that you can use. Simply plug the three variables into the calculator and see if the amount you will mine is more than what you’ll spend setting up and running the operation.

    If the projected earnings are more than the expenses, then setting up the mining operation will benefit you and you can move on to the next step.

    Step 2 – Buying a mining rig

    As mentioned above, it was possible to mine Bitcoins with GPUs. But now, it takes specific chips to mine effectively. Mining chips are called Application Specific Integrated Chips, which are made for the sole purpose of mining.

    You can choose a rig based on price per hash and electrical efficiency. The best rig isn’t always the most expensive one, but the one that strikes the perfect balance of power and cost.

    Step 3 – Get a Bitcoin wallet

    A bitcoin wallet is a bank account specifically for your Bitcoins. If you wish to receive or send bitcoins, you need a wallet. A wallet consists of a public key and a private key.

    The public key is what you give out to people. If they wish to send you bitcoins, they simply input your public key and send whatever the amount is. The private key is your password into the wallet, allowing you to access the money in it.

    There are two types of wallets, physical and digital. One of the most well known digital wallets is called Copay, and it is great for beginners.

    Physical wallets, also known as hardware wallets, are extremely secure, much more than digital wallets. Ledger Nano, TREZO, and OPENDIME are good suppliers of hardware wallets.

    • 1 answers
    • 0 votes
  • Asked on September 15, 2018 in Cryptocurrency.

    Bitcoin Diamond Features

    • Distribution: Mining and claiming
    • Mining Algorithm: SHA256
    • Block Time: 10 minutes
    • Max Blocksize: 8MB
    • Difficulty Adjustments: Every two weeks
    • Max Transactions Per Day: 4.8 million
    • SegWit: Yes
    • Relay Protection: Yes

    How Does Bitcoin Diamond Work

    Bitcoin Diamond(BCD) is a new cryptocurrency created from the fork of the bitcoin blockchain. This fork has occurred at the block 495866 of Bitcoin and a new BCD chain has generated. At this point, BCD miners will begin creating new blocks with a new proof of work algorithm.

    There’s a total supply of 210 million Bitcoin Diamonds. The price will be set at a rate of 1 BTC = 10 BCD. That’s 10 times higher total supply than the original bitcoin blockchain. Even hard forks like Bitcoin Cash all have a fixed limit of 21 million units – after all, there are only 21 million bitcoins in existence.

    What’s the point of Bitcoin Diamond? Which problems does the currency seek to solve? The website identifies three main areas of concern:

    • Lack of privacy protection
    • Slow transaction confirmations
    • High thresholds for new members

    In terms of the total supply, it seems that 170 million BCD will be available on the market, while the remaining 40 million will be reserved for a “community rewards pool as tributes and mining”.

    • 1 answers
    • 0 votes
  • Asked on September 15, 2018 in Cryptocurrency.

    Special Features of Litecoin

    Lee managed to reduce block confirmation timings to 2.5 minutes from the existing 10 minutes. With speed at 4 times compared to Bitcoin, a higher volume of transactions can be confirmed. Lee focused on achieving large-scale adoption of the currency and he did it by modifying the Bitcoin’s core code and the protocol.

    SHA-256 the original core algorithm of Bitcoin was very memory consuming. Litecoin replaced this with Scrypt Algorithm which takes less memory and is at the same time extremely secure & impervious to hacking. Lee also slightly modified the graphical user interface (GUI).

    LTC adopted Segregated Witness (aka SegWit) in May 2017 and was one the first top 5 cryptocurrencies to do so. SegWit is a Blockchain scaling solution. In simple word, it means separating witness signatures from the transactions

    To improve transactions between cryptocurrencies, LTC adopted Atomic Swap for the first time in 20th Sept 17. The transaction was between DCR and LTC.

    Atomic Swap is a barter exchange of cryptocurrencies. It is a way of exchanging two cryptocurrencies without any intermediary exchange or escrow.

    Later in the same year, they transferred 0.00000001 from Zurich to San Francisco in under 1 second using Lightning Network 1

    • 1 answers
    • 0 votes
  • Asked on September 15, 2018 in Cryptocurrency.

    Buy Litecoin on Coinbase

    10 million users and $ 50 billion traded, makes Coinbase the safest and the cheapest way to buy LTC, Available in 32 countries, but it is not available in countries like India.

    It is quite simple to do so:

    • Register an account at Coinbase.
    • Configure your bank account.
    • Transfer your national currency into your Coinbase wallet.
    • Exchange your currency for Litecoin.

    Buy Litecoin on Changelly

    The other option is Changelly. Here you can not only buy LTC, you can also exchange LTC with other crypto-currencies like Adtoken, Mysterium, Salt, Monaco, Confound.it, Metal etc. Changelly has a very modest and flat exchange fee of 0.5%. They do not have any hidden charges or fees etc.

    There is only 2 step process to do so:

    • Your Litecoin address
    • Bitcoins/other altcoins to exchange for Litecoin.

    Buy Litecoin on Shapeshift:

    Though little complicated and with a whole lot of intricate fee structure, Shapeshift is quite transparent and easy to use. The process of purchasing a LTC is quite similar to Changelly.

    • 1 answers
    • 0 votes
  • Asked on September 15, 2018 in Stock Trading.

    It is very important for all the traders and investors to know the stock market trading hours. If a trade order is placed after the stock market is closed then it will be executed on the next trading day and meanwhile, the stock prices can change significantly.

    **Trading Hours in United States**

    New York Stock Exchange

    Trading Days – Monday to Friday

    Opening Time – 9:30 a.m. Eastern Standard Time

    Closing Time – 4:oo p.m.Eastern Standard Time

    After-Hours Trading: 4:00 p.m. through 6:30 p.m. ET (Monday to Friday)

    Pre-Market Trading: 8:00 a.m. through 9:30 a.m. ET (Monday to Friday)


    Trading Days – Monday to Friday

    Opening Time – 9:30 a.m. Eastern Standard Time

    Closing Time – 4:oo p.m.Eastern Standard Time

    After-Hours Trading: 4:00 p.m. through 6:30 p.m. ET (Monday to Friday)

    Pre-Market Trading: 8:00 a.m. through 9:30 a.m. ET (Monday to Friday)

    Holidays in US Stock Market

    • New Year’s Day
    • Martin Luther King Jr. Day
    • President’s Day
    • Good Friday
    • Memorial Day
    • Independence Day
    • Labor Day
    • Thanksgiving Day
    • Christmas Day

    Toronto Stock Exchange Trading Schedule

    • Opens at 9:30 a.m. and closes at 4 p.m. local time (Monday to Friday)
    • Extended session for market participants (Participating Organizations and Members) – 4:15 to 5:00 p.m. ET each trading day.

    Tokyo Stock Exchange Trading Hours

    • Opens at 9:30 a.m. and closes at 3 p.m. local time
    • Lunch Break – 11:30 a.m. to 12:30 p.m. local time
    • 1 answers
    • 0 votes
  • Asked on September 15, 2018 in Cryptocurrency.

    Bitcoin Accepted Here! – List of Popular Companies

    • Microsoft – Users can buy content with Bitcoin on Xbox and Windows store
    • WordPress.com – An online company that allows user to create free blogs
    • Namecheap – Domain name registrar
    • Dell – American privately owned multinational computer technology company
    • Virgin Galactic – Richard Branson company that includes Virgin Mobile and Virgin Airline
    • Wikipedia – The Free Encyclopedia with 4 570 000+ article
    • Reddit – You can buy premium features there with bitcoins
    • Overstock.com – A company that sells big ticket items at lower prices due to overstocking
    • Mint.com – Mint pulls all your financial accounts into one place. Set a budget, track your goals and do more
    • Shopify.com 1 – e-commerce platform that allows merchants to set up their own online shops to sell their products similar to Etsy or eBay
    • Expedia.com 1 – Online travel booking agency
    • Fancy.com 3 – Discover amazing stuff, collect the things you love, buy it all in one place (Source: Fancy)
    • Bloomberg.com – Online newspaper
    • Subway – Eat fresh
    • OkCupid – Online dating site
    • Tigerdirect – Major electronic online retailer
    • CheapAir.com – Travel booking site for airline tickets, car rentals, hotels
    • Gyft – Buy gift cards using Bitcoin
    • Newegg.com – Online electronics retailer now uses bitpay to accept bitcoin as payment
    • Steam – Desktop gaming platform
    • Alza – Largest Czech online retailer
    • PizzaForCoins.com 1 – Domino’s Pizza signed up – pay for their pizza with bitcons
    • Whole Foods – Organic food store (by purchasing gift card from Gyft)
    • Bitcoincoffee.com – Buy your favorite coffee online
    • Grass Hill Alpacas – A local farm in Haydenville, MA
    • Jeffersons Store – A streetwear clothing store in Bergenfield, N.J
    • Helen’s Pizza – Jersey City, N.J., you can get a slice of pizza for 0.00339 bitcoin by pointing your phone at a sign next to the cash register
    • A Class Limousine – Pick you up and drop you off at Newark (N.J.) Airport
    • Seoclerks.com – Get SEO work done on your site cheap
    • Humblebundle.com 1 – Indie game site
    • BigFishGames.com – Games for PC, Mac and Smartphones (iPhone, Android, Windows)
    • Suntimes.com – Chicago based online newspaper
    • San Jose Earthquakes – San Jose California Professional Soccer Team (MLS)
    • Square – Payment processor that help small businesses accept credit cards using iPhone, Android or iPad
    • The Internet Archive – web documentation company
    • Bitcoin.Travel – a travel site that provides accommodation, apartments, attractions, bars, and beauty salons around the world
    • Pembury Tavern – A pub in London, England
    • Old Fitzroy – A pub in Sydney, Australia
    • The Pink Cow – A diner in Tokyo, Japan
    • The Pirate Bay – BitTorrent directories
    • Zynga – Mobile gaming
    • 4Chan.org 2 – For premium services
    • EZTV – Torrents TV shows provider
    • Mega.co.nz – The new venture started by the former owner of MegaUpload Kim Dotcom
    • Lumfile – Free cloud base file server – pay for premium services
    • Etsy Vendors – 93 of them
    • Crowdtilt.com – The fastest and easiest way to pool funds with family and friends (Source: crowdtilt)
    • Lumfile – Server company that offers free cloud-based servers
    • Museum of the Coastal Bend – 2200 East Red River Street, Victoria, Texas 77901, USA
    • Gap, GameStop and JC Penney – have to use eGifter.com
    • Etsy Vendors – Original art and Jewelry creations
    • Fight for the Future – Leading organization finding for Internet freedom
    • i-Pmart (ipmart.com.my) – A Malaysian online mobile phone and electronic parts retailer
    • 1 answers
    • 0 votes
  • Asked on September 15, 2018 in Cryptocurrency.

    What equipment is needed to mine?

    In order to mine bitcoins, you need a mining rig. This can be as simple as a Graphics Processing Unit (GPU) miner, or as high-end as an application-specific integrated chip style miner.

    The high-end miners can cost thousands of dollars, with specially made racks to cool the cards while in use. However, home users can also cobble together powerful mining rigs by plugging several graphics cards together in parallel and using the resulting processor to mine bitcoins. Professional miners have different requirements.

    Many of them even rent large warehouses and stock them with mining rigs. Apart from this, all you need to mine is a bitcoin wallet and an internet connection. You can read the detailed guide to start Bitcoin Mining:- How to mine bitcoins on your own

    These are the basics of mining. It is an integral part of the blockchain, and miners serve a vital role in the cryptocurrency ecosystem. But due to the decentralized nature of bitcoin, anybody can start mining whenever they wish. It is open to all! You can read this advance guide to learn the step by step method to mine Bitcoin:

    How to Mine Bitcoins and Make Money – Step by step Guide

    • 2 answers
    • 0 votes
  • Asked on September 15, 2018 in Cryptocurrency.

    The process of mining was designed by Satoshi Nakamoto, the creator of Bitcoins, in such a manner that security is increased to incredible levels. As a matter of fact, the only way to commit any kind of fraud on the blockchain is to subvert 51% of the people who are part of the blockchain. Due to the sheer computational power required to break the efforts of the miners, Bitcoin encryption is widely regarded as the best in the world.

    How Does Bitcoin Mining Work?

    Bitcoin mining is the process by which Bitcoin transactions are validated. Earning Bitcoin is done through the process of mining, and mining is an integral part of blockchain technology. When a transaction is made, it goes into a “block”, which records the most recent Bitcoin transactions that have not yet entered any prior blocks. It acts as a ledger, or rather, a page of a ledger. Now one of the security measures, as noted above, is encryption. So the task falls to the network to encrypt each block. But when the block is encrypted, there is only one key to decrypt it. In order to generate this key, a mathematical problem is posed to the network. Everybody in the network then dedicates computing power to solving this problem and completing the encryption process. The first person to solve it and find the key earns a set number of bitcoins as a reward for devoting computing power to this problem. This entire process is called mining.

    • 2 answers
    • 0 votes
  • Asked on September 15, 2018 in Investment.

    In practice “top down” approach prevail in analysis and forecasting because logically for forecasting of the companies performance the changes in macroeconomic environment must be analyzed first otherwise the inconsistent assumptions could be drawn. The combination of two approaches is used by analysts too.

    For example, analysis and forecasts are made for the economy using “top-down” approach and then
    using “bottom-up” approach continuing with the forecasts for individual companies. But despite of the different approaches to the sequence of the analysis the content of it is based on the E-I-C analysis.

    • 2 answers
    • 0 votes