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The Rise of the Meme Coins - SHIB vs DOGE
Shane Addinall posted a post in BlogMany compare investment trading with gambling, and for good reason. The stock markets can be treacherous, even on a good day, and this is truer with crypto investments. Since the first digital coin launched in 2009, decentralised currencies have exploded, and investors now have over 10,000 options in this market. So many jumped on the hyped-up bandwagon of Bitcoin that tech wizards Bill Markus and Jackson Palmer set out to create a spoof coin to poke fun at the wildly speculative investment. Much to their surprise, Dogecoin experienced massive success in its first three weeks, spawning countless other meme coins. Since Dogecoin's arrival in 2013, many altcoins joined the digital currency race, and many failed. On the other hand, Shiba Inu seems promising, and as a self-declared Doge-killer, we must inspect how the top two meme coins measure up. Meme Coins and Investment Those familiar with Decentralised Finance (DeFi) may know meme coins and understand what it is about, but to some, the concept remains foreign. If you are wondering, the name explains it all. These altcoins have images of popular memes as their logo. The creators of Dogecoin claimed the most meme-worthy dog as its symbol, hence the name. Doge memes include a quirky photo of the Japanese dog breed, Shiba Inu, with a collection of rainbow-coloured sayings like "such wow", "very concern", and more comical dog language. Following the success of Dogecoin, the crypto market now has a horde of dog-themed coins. Like other altcoins, meme coins bring scalable options to the cryptocurrency market, a feature lacking in Bitcoin. Meme coins also rely heavily on community activity and therefore need viral results to thrive. This makes it an extremely volatile investment space, and experts on either side of the fence agree investors should only buy crypto stock with money they can afford to lose. Dogecoin vs Shiba Inu As the most talked-about investment opportunities in the meme coin category are Shiba Inu and Dogecoin, we weigh the two against each other. Below, we explore key similarities and differences between the two dog meme coins and uncover the core traits of each. Then we compare them in the investment space to discover the best bet for those who want to gamble on meme coins. Similarities and Differences The most basic feature these two coins share is the animal on their logo. Both Dogecoin and Shiba Inu flaunt an image of the adorable breed behind the viral memes from the 2010s. The only difference is that the original meme coin has a cartoon version of the dog, and its rival has a modern pop-culture image of a Shiba Inu. With recognising the coins in the stock market, the logos are irrelevant. These coins trade as DOGE and SHIB, respectively. Another feature these coins share is the intention of being a peer-to-peer payment network. This means that, unlike Bitcoin, these coins have no central authority, corporate structure, or executives making crucial decisions that affect the entire network. Instead, these coins are entirely community-led. This may be where some want to take a step back and question the reliability of investments, but like all other reputable coins, the blockchain ledger is available to the public and bears the same immutable qualities. The peer-to-peer network impacts market value and causes major fluctuations, making meme coins a bad choice for novice investors. Dogecoin and Shiba Inu both fork from larger blockchain models. Although the former came into being as a satirical response to Bitcoin investments, DOGE ironically enough, forks from Litecoin which originally forked from Bitcoin. Shiba Inu runs on a different chain, namely Ethereum, which many see as an advantage. This technicality means the coins have reliable infrastructure, and both networks come with their pros and cons. ✓ Dogecoin Originally launched in 2013, Doge enjoyed huge success thanks to virality. As mentioned, the creators of Doge were making fun of the speculative nature of cryptocurrency investments, but thanks to the community in the Doge network, it reached exciting heights in the initial phase. Seems like the tech world has an appetite for humour, as the comedic meme coin reached 300% growth in its first couple of weeks of trading. Experts believe this happened because it was a very appealing way to enter the crypto market without breaking the bank. The consumer-focused approach of the new breed of altcoins attracted new investors, and soon, Doge was a genuine alternative to existing coins, like Bitcoin. Because Doge uses a similar Proof of Work (PoW) consensus mechanism as Litecoin called Scrypt (pronounced es-crypt), the currency is less energy-intensive and quicker than Bitcoin. Dogecoin has several celebrities backing it, and Elon Musk called it 'the peoples crypto' on Twitter, triggering enormous growth for Doge and other meme coins. Thanks to the low price of the coin, in stark contrast to Bitcoin, anyone can invest in Doge. Industry experts warn potential investors should be cautious when doing so. Labelled as the 'fun and friendly internet currency', Doge experiences sporadic rate changes on the stock market. At the time of writing, 1 Doge was worth $0.063. This open-source, peer-to-peer digital currency offers users a couple of advantages, like the speed of transactions. Thanks to the Scrypt algorithm, Doge creates blocks much faster than other value storage cryptocurrencies, and it is a lot more scalable than Bitcoin. The estimated time for the creation of a block is 1 minute, while Bitcoin takes 10 minutes. ✓ Shiba Inu Compared to Doge, Shib is an infant in the trading market. Created to mimic the surprising success of the original meme coin, Shiba Inu arrived on the scene in 2020. There is no reason to speculate on the inspiration behind this meme coin as the coin's creator labelled it as 'the Dogecoin killer'. While both Doge and Shib rely on community engagement and major hype from it, Shib presents its users with interesting options. Shiba Inu operates on the Ethereum blockchain, giving it an edge that Doge lacks. Apart from the community platform known as Shiba Swap, where members can trade their coins for others, Shiba users can choose from three cryptos with different applications. SHIB is the basic currency used as a medium of exchange. LEASH is a limited token; only 107,647 are available, which are used as staking rewards for those validating the currency. Lastly, investors can purchase some of the 250 million BONE coins available, which allow its owners to vote on governance proposals. Shib experienced massive growth in 2021, much like Doge, but we must point out that 1 coin is worth $0.00001017 at the time of writing. Regardless, for an investor, percentages matter and considering the 3500% gain within the first couple of days of trading, Shib is an attractive choice for traders. The low price makes it an easy option for those who want to experiment in the crypto space without losing too much if they're out of luck. Unlike Doge, Shib has no celebrity endorsements as yet. If you believe that all publicity is good publicity, we could argue that the coin burning indaba, where Ethereum's Vitalik Buterin irrevocably destroyed approximately 40% of all issued Shib and shunned the coin, was a PR stunt. It is safe to say that Shib enjoys success thanks to Doge, and only time will tell which becomes the victor. Should You Gamble on Meme Coins? As mentioned, high-risk investment trades are a gamble, and the risk is so much more with cryptocurrency markets. The truth about meme coins is that you need to understand what can topple a good trading day and stay on top of community interactions. Like with gambling, you should only use the money on crypto and meme coin investments if you can afford to lose that money. Once you understand that, there are a few things to consider before deciding on where to lay your stake. How do Doge and Shiba compare on the stock market, and which is the best choice for investors right now? What does the future hold for these dog coins? DOGE vs SHIB? Basic economics comes down to supply and demand. The relationship between these two variables determines the value of an asset, and most altcoins come with a capped supply. Doge is an exception to this rule, as the creators stuck to an authentic peer-to-peer payment system by utilising an inflationary mechanism. This helps prevent investors from holding onto massive chunks of the token and keeps costs low in the long run. Doge has a supply rate of approximately 5 billion coins a year. With a 9-year history on the market, one would think Doge has more solid backing from investors, but despite impressive gains here and there, experts remind us that meme coins have no real precedent for how their value can change. Bursts of huge gains seem to be short-lived with Doge, and it is an extremely volatile space to play in. Shib gradually clawed its way up the market ladder in the two years of its existence. It launched at a value lower than $0.00000001 because the creators needed to leave room for significant growth. Following on the coattails of Doge's remarkable gains in 2021, Shib increased in value to $0.0000036, showing a 3500% gain on investors' books. The Doge-killer reached an all-time high in October 2021 of $0.0000826, but as we pointed out, it has dropped significantly since then. Choices, Choices Considering the hype around these altcoins and how it impacts the coin's values, it is best to approach with caution when investing in meme coins. Both show promise, as Doge has been around for nearly a decade, and Shiba offers innovative options for its community. However, investors need to keep their fingers on the pulse with these communities to beat the curves. Remember that meme coins are high-risk investments, and neither Doge nor Shiba bears a 'safe investment' label. Considering the stability and track record of Doge, it may be a less risky option for investors, but Shiba has a few tricks up its sleeve that makes it a potentially good choice for growth.
In the history of mankind, there are those groundbreaking new innovations that spur us on to bigger and better things. These major inventions include harnessing electricity, the telephone, the motorcar, the internet and now the blockchain. Love it or hate it the development of cryptocurrencies on the blockchain has revolutionised how we view digital assets, our thinking around finance and how the world will transact for the foreseeable future. The Types of Cryptocurrencies While we have all heard of Bitcoin, Ethereum, Dogecoin and other well know crypto coins there is often some confusion when it comes to terms like decentralised cryptos, stable coins and alt coins. Here are some easy introductions to these terms: ✓True/Decentralised Cryptocurrencies When Satoshi Nakamoto first conceptualised Bitcoin his intent was to create a digital currency that would not reside on a single server but was spread across the Blockchain. This would ensure that no single country, corporation, or person could ever own it or control it. Crypto coins like Bitcoin, Ethereum, Dogecoin and others which follow this decentralised tradition by residing on the Blockchain and do not have a single controlling owner are considered by industry pundits to be “true” cryptos. ✓Alt Coins As the name denotes Alt-Coins are “alternatives to” an existing cryptocurrency. Due to the fact that blockchain and cryptocurrency code is open source, it allows anyone with the appropriate skill level to develop their own coin. Generally, an altcoin improves on one or more aspects of its original code. An example of this is Ethereum which improved on the transactional aspect of Bitcoin, allowing it to process blocks of transactions in two and a half minutes compared to Bitcoin’s much slower ten minutes per block. ✓Stable Coins Stable Coins are the type of crypto token which is the farthest removed from Satoshi’s vision for his invention for three reasons: They reside on a single server or closed series of servers They are owned and operated by single entities Its value is dictated by a fiat currency or precious metal While stable coins exist on the blockchain and offer all of its speed, security and low cost benefits they are simply the digital-only equivalents of our existing country-based currencies. Most governments around the world are in the process of developing stable coin versions of their currencies with the hopes of one day doing away with costly and short-lived paper and metal money. Visit our full guide to stablecoins for more on this interesting spin off of cryptocurrency technology. Why Crypto Gambling Is Popular With the unique way in which the blockchain stores and shares data it is the most hacker-proof system on the planet. Rather than store information in a single central location, which once cracked, gives the would-be thief full access to the data the blockchain splits it into thousands of tiny data packets. These packets of data are then spread across all the connected nodes on the internet and are each individually secured. In addition to this mind-blowing level of security the fact that it is only moving tiny bits of data around means that it can pass large volumes of information at incredibly high speeds. When applied to lightweight products like a casino deposit this means near-instant banking. Finally, the blockchain does not require you to give confirmable information to access and use it other than a personalised username and an email. It is not perfectly anonymous as there is the issue of using your internet connection (which can be addressed by the information we supplied in our guide to using a VPN for cyber security) and that purchasing Bitcoin is done via a crypto exchange like Security, speedy transactions and high levels of anonymity are some of the reasons that more players are making the move to gambling at crypto casinos. The Top 10 Cryptocurrencies To ensure that we do not fall into the trap of thinking about cryptocurrencies in a limited way we looked to CoinMarketCap to see which digital tokens are the most popular outside of our industry. Much to our delight, the online casino industry has adopted cryptos with open arms. The proof of this is that ten of the fifteen highest rated crypto coins are already in wide use by the best crypto casinos. If you are interested in gambling with Bitcoin and other leading cryptos here is a brief overview of the top 10 casino cryptos and an idea of where you can play with them: 1. Bitcoin – First Decentralised Coin As the first truly decentralised cryptocurrency Bitcoin captured the imagination of the world with its mysterious creator and incredible value growth. It not only drew attention to the potential of digital currencies but also the potential of the blockchain which has seen many industries begin to develop new and exciting innovations, tools and products that have changed the world. The first decentralised crypto coin Incredibly valuable digital asset One of the most secure currencies in the world If you would like to try your hand at playing your favourite online slots and tables games with Bitcoin, we recommend visiting Bitcoin Games casino and 22Bet casino. 2. Ethereum – Decentralised/Altcoin Ethereum is only second in terms of industry awareness and usability to Bitcoin. As a Bitcoin altcoin, Ethereum offers users the same safety and security with vastly superior processing times. Ethereum has set itself up as the “everyday driver” of cryptocurrencies processing up to 1 million transactions each day while Bitcoin only processes up to 250,000. Same secure framework as Bitcoin Ability to process up to 1,000,000 transactions per day One of the cheapest cryptos to use Ethereum’s processing power makes it incredibly popular with online casinos that offer digital token gambling. We recommend visiting Green Spin casino and Bitstarz casino to try it out for yourself. 3. Bitcoin Cash – Decentralised/Altcoin Bitcoin Cash is another Bitcoin altcoin, in this case, it was developed in 2017 from a fork of the original crypto. The benefits of Bitcoin Cash lie in its larger block size which means it is faster than BTC while capping its supply which gives it a similar asset value proposition to its progenitor. Follows the same digital asset mentality as Bitcoin Offers superior processing times as the original coin Very low fee structure If you’re looking to gamble with a cryptocurrency that is incredibly like Bitcoin but offers faster transactions, lower costs and a lower price per coin then Bitcoin Cash could be for you. Try it out today at Kosmonaut casino and 1xBit casino. 4. Cardano – Decentralised/Altcoin Cardano is the ledger that supports the independent cryptocurrency ADA. The digital coin is considered one of the leading alt-coins on the market due to its reasonable cost, widespread adoption by online businesses and incredibly cheap processing fees. Still available at a low price Uses a bespoke low-cost fee structure Widespread use by online shops and gambling sites If you are new to cryptos and want to test the waters with a usable and fairly cheap option, then you should consider buying some Cardano. You can play with it online at Fairspin casino and TrueFlip casino. 5. Tether – Stablecoin Tether is a stable coin that has anchored its value to the US dollar while still offering users the stability, processing speed and security of the blockchain. For banks, businesses, and new crypto enthusiasts it offers the benefits of the blockchain without the fear of massive price fluctuations associated with decentralised coins. Steady and predictable pricing Offers the digital security of the blockchain A popular digital currency for e-commerce We recommend trying out the benefits of cryptocurrency gambling by starting with the market stability offered by Tether. It is available at MyStake casino and Rolletto casino. 6. XRP – Decentralised/Altcoin XRP is the cryptocurrency used by products developed by Ripple Labs on the blockchain. The intent of creating XRP was not to launch the next crypto-asset like Bitcoin but to offer the community a network specifically designed to handle high volumes of digital payments Specifically designed to process high transaction volumes XRP is not mined but rather acquired through trading Ranked as one of the top 10 cryptos worldwide Test out the efficiency and processing power of the XRP network for yourself by using it as your deposit and withdrawal mechanism at both Bet Sensation casino and 1xBit casino today. 7. Dogecoin – Decentralised/Altcoin Developed a commentary on the insane prices that crypto-assets were demanding Dogecoin has positioned itself to be the ‘everyman’ cryptocurrency. Built on the Litecoin framework Dogecoin offers fantastic processing and low costs but has openly stated its supply will be unlimited ensuring none of the price spikes associated with limited-supply coins like Bitcoin. A real-life underdog story Unlimited supply manages price volatility Offers all the benefits of Litecoin Take this playful Shiba-token for a walk today by signing up at either 22Bet casino or Green Spin casino today and playing their selection of online slots, table games and arcade games. 8. USD Coin If you are a fan of innovation and new technology but are sceptical of the crazy price fluctuations of some cryptos then USDCoin could be your perfect solution. This stable coin offers all the processing and security benefits of the blockchain while guaranteeing that each USDCoin will always only cost $1.00. Price per coin will always be the equivalent of US$ 1.00 Enjoy all the benefits of the blockchain Built on the trusted and highly trafficked Ethereum framework USDCoin’s stable pricing anchor makes it the perfect cryptocurrency for players looking to move from fiat currency banking to digital banking without risking their bankroll to currency volatility. Play with it at 1XBit casino and Fairspin casino today. 9. Chainlink Chainlink is considered an Ethereum alt-coin. While it offers users all the expected speed, low costs and security of the blockchain it has the added benefit of integrating transactions that are not based on the blockchain. This is allowing people to seamlessly do business using fiat currencies with blockchain companies. Ethereum-based altcoin Seamless off-blockchain transaction processing Offer tamper-proof cross-blockchain smart contracts Test the high speeds, hack-proof security, and low fee structure of this altcoin for yourself by playing at Casino-Z and 1xSlots casino today. 10. Litecoin – Decentralised/Altcoin Litecoin is one of the early Bitcoin altcoins having been launched in 2011. In addition to offering the same anonymity and security options as its source, the developers behind Litecoin have also engineered the Lightning Network for instant global payments for everything from casino deposits to purchasing a coffee. Hack proof peer-to-peer transaction network Lightning network for instant payments Developers of Atomic Swap for cross crypto trading Try your hand at playing video slots, video poker, blackjack and more using Litecoin to deposit and withdraw at Bet Sensation casino and Green Spin casino today. How To Gamble With Cryptocurrencies Now that you are comfortable with what the differences are between the various types of coins, know a little more about the top 10 cryptos for gambling and have some idea of where to play with each of them let's talk about how to deposit and withdraw with cryptos. Despite being a groundbreaking new technology using them in practice is incredibly simple. To begin gambling with digital currencies all you need to do once you’ve joined your preferred crypto casino is follow the simple steps below: ✓How To Deposit with Crypto To make your first deposit at an online casino with cryptocurrency, plus claim the amazing welcome bonuses on offer, follow these simple steps: Step 1: Click on deposit at the top right of the page. Step 2: Select bitcoin, copy the private depositing address, and enter a relevant promo code. Step 3: Send the bitcoin to the private depositing address from your Bitcoin wallet of choice. With the speed and power of the blockchain, your first crypto deposit will be ready and waiting for you in your account within moments. ✓How To Withdraw with Crypto When it comes to cashing out your winnings the process is even more simple than making your first deposit. Follow these easy steps to withdraw your money: Step 1: Click Profile at top right of page, then click withdrawal. Step 2: Find your Bitcoin wallet address. Step 3: Select Bitcoin, enter your wallet address, the amount to be withdrawn, click withdrawal. For players who are used to waiting up to five business days for a withdrawal crypto-cash out will be mindblowing. At most, you will have to wait 15 minutes before you see your withdrawal become available in your wallet.
A few short years ago no one in the world understood what digital currency was let alone how it would one day change the world. Yet today discussions around Bitcoin price hikes, Dogecoin as a meme token, the impact of cryptocurrency mining on both graphic card prices and the environment are dinner table chatter around the world. As an industry where speed of processing, data security and the potential for large financial transactions are central to its day to day running the online gambling market has been heavily invested in the development of blockchain technology and the adoption of cryptocurrencies. In this article, we will delve into what separates an online casino from a cryptocurrency casino. Are there tangible benefits? What are the challenges? Can you legally gamble using cryptocurrency and what games can you enjoy? Online Casino vs Crypto Casino – The Provably Fair Difference In recent years, the line between a blockchain casino and a casino that accepts cryptocurrency payments such as Bitcoin has blurred the definition of what a “crypto casino” is. There is an increasing number of online casinos that have begun accepting deposits and will honour withdrawals via your cryptocurrency wallet. Allowing you to gamble at their casino with credits purchased via Bitcoin, Ethereum or whichever token they accept. However, a true crypto casino does far more than just trade Bitcoin for casino credits. These casinos operate on the blockchain themselves. Their websites, their games, your personal information and ultimately your wagers are placed directly on the blockchain meaning it is all protected by the most advanced encryption platform known today. With the unique hash records available when processing transactions on the blockchain, the same technology used to verify Bitcoin transactions, you can track the validity of the outcome of each game you play at a crypto casino. This system of Provably Fair gaming puts the power to review every hand of blackjack, every spin of the reels and every roll of the dice in Craps and verify that the outcome you were shown is true and unaltered by any third party interference. A great example of this Bitcoin.com which now offers casino games on its platform, that is as close the source as one can hope to get when gambling with BTC. Advantages of Crypto Gambling – Count the Cost In any scenario where you are investing your time and money, both precious commodities, we always recommend looking at the facts and making a reasoned decision from there. The advantages of crypto casinos are: Unparalleled security – Given the virtually impenetrable nature of the blockchain it offers gamblers unprecedented levels of privacy and data protection. Less intrusive experience – When transacting via the blockchain the code behind your wallet is what is needed to complete a transaction. In this case gambling at a true crypto casino will require very little personal information from you to sign up and no additional KYC documentation when you cash out. Transactional transparency – The peer to peer nature of the blockchain ensures that you have a full view of who you send money to and receive it from, as well as giving you access to Provably Fair reviews of the individual games you play. Growing selection of licensed casinos – As Bitcoin continues to pave the way for mainstream adoption of cryptocurrencies so more regulated markets are beginning to accept cryptocurrencies. This ensures you all the benefits of virtual currency gambling with the support of player-centric gambling authorities. Superior banking options – The low costs, advanced security and unmatched processing speeds of cryptocurrencies make them the superior option when transacting online. However, as more casinos accept Bitcoin and other virtual currencies you still have access to web wallets and credit card transactions if you want them. Better payout percentages – With the low cost of operating an online casino on the blockchain and other revenue generation models for operators that include using the power of gambling transactions to mine for tokens blockchain casinos can offer overall payout percentages of up to 99%. This is far better than 93% to 97% offered by traditional online casinos. Casino game selection – Gambling on the blockchain no longer limits you to playing special blockchain games with poor graphics and limited animations. The world’s leading developers like Big Time Gaming now develop for the blockchain offering great casino games for true crypto casinos. Accessing traditional online casinos which transact in Bitcoin means you have access to award-winning slots and live dealer games from providers like Evolution and Netent. When it comes to shifting your online gambling from a known and trusted online casino to a new crypto casino it is worth digging into the pros and cons of the move and making a decision based on a balanced review of the facts and your personal needs. Choosing a Crypto Casino – Hot Button Items When discussing crypto-based casinos with our community and finding out from them what their most important selection criteria were for choosing a new online casino the following points were the most common across the board: Can I trust the casino to pay me? Will they find excuses to delay my payment? How safe is my information? Do they offer good bonuses? When it comes to finding a trustworthy online casino to play at the addition of cryptocurrencies to a casino is in fact an extraordinarily strong trust cue. With the total transparency and Provable Fair nature of the blockchain, these casinos are more exposed to their players than any traditional online casino. When you consider that you can also play at a regulated casino in Bitcoin you have added another layer of security as now have a safe technology platform and a stringent gaming authority both protecting you. The speed with which you can withdraw your winnings has always been a hot topic for online gamblers. Looking at the FAQs of leading cryptocurrency casinos like Bitstarz, BitCasino and Bitcoin Games Casino they all offer instant withdrawals. The protection of your personal and financial information is of paramount importance to all reputable online casinos. In this case, it becomes a matter of degrees; online casinos are as secure as banks when they utilise 128-bit SSL encryption but the blockchain is objectively the superior encryption method and so blockchain-based casinos will always be the safer option. At their core, the types of bonuses you receive at online casinos and cryptocurrency casinos will be the same either deposit match offers, free bonus credits or free spins. However, you may find the wagering requirements less stringent at crypto sites and their overall payout percentages higher which could mean you stand to withdraw more at a crypto casino on paper, but only Lady Luck knows where those chips will fall. Licensing and Regulation – Does it Matter for Crypto? No matter what your preferred gambling platform is, even when playing offline, there is no substitute for the peace of mind that gambling under a globally recognised regulator brings. They are far more than just a marketing watchdog that rakes in licensing fees. These gaming authorities ensure that operators have sufficient funds to pay your withdrawals, manage national safe gambling programs, require license holders to have their business practices reviewed by third-party auditors and work with law enforcement to shut down illegal operations. Adding the technology-based protections inherent to the blockchain to this substantial jurisdictional protection ensures that you have the safest and potentially profitable online gambling experience possible. In Conclusion With the advancements made in the online gambling services available on the blockchain, it is a good time to see if at the very least your current online casino accounts offer the option to transact in Bitcoin or other cryptocurrencies. If you live in a regulated gambling market that has approved Bitcoin gambling it is worth adding the added protection provided by the blockchain to the security you already experience under your current legislation. Cryptocurrencies are growing in mainstream adoption so getting to grips with this technical and financial phenomenon through a medium you already enjoy, online gambling, is an easy way to luddite to crypto-pro!
While the news cycle is filled with talk of cryptocurrencies such a Bitcoin, Ethereum, Cardano and even meme-tokens like Dogecoin and Shiba Inu, truly little of the media hype focuses on the real star of the show, blockchain technology. In many people's minds cryptocurrency and the blockchain are the same thing, which is not the case. The innovative way in which the blockchain stores, transmits and ultimately secures data is the foundational element upon which crypto-technology is built. In practical terms, while the mainstream media has been focusing on the cryptocurrencies and their incredible immediate financial value, development firms have been quietly working on using this amazing new technology to create new industries and improve existing ones. 7 Ways Blockchain Technology Will Improve Your Life There are hundreds if not thousands of ways in which blockchain tech can be used to refine and redefine the world around us. We have chosen to focus on seven industries that will benefit from blockchain integration based on recent developments or news stories. ✓Value-Driven Arts and Entertainment Piracy has never been easier thanks to the ability to scan, print and share just about any type of media online easily. This has led to ‘one of a kind’ artworks ending up as cheap prints on everything from mousepads to children’s toys. Artists are unable to protect their intellectual property rights and it has a measurable impact on their bottom line. Whether you are self-publishing a novel, realising a new album or creating your perfect painting once you release it into the world someone will make an illegal copy and try to profit from your skill and hard work. Thanks to the incredible security, peer-to-peer sharing and provable nature of blockchain interactions artists are now able to securely display, share and sell their creations safely, and when dealing with a third-party agent, transparently to ensure they receive full value. This new level of trust and transparency has been the catalyst behind the boom in NFT (non-fungible token) art sales. Where, for the first time in history, it is possible to provably own an original digital creation. This ensures that the artist receives fair value, agents must deal fairly with buyers and sellers and collectors are ensured that their purchase will retain value given the ability to legally prove theirs is the original artwork and not a fake. ✓Beating Scalpers with Digital Ticketing and Sales One of the most recent uproars online has been the rise of the digital scalper. Using blockchain technology to ensure patrons received tickets to highly sought after events, rather than scalpers, has proven to be highly effective for the Adrienne Arsht Center for the Performing Arts in Florida. Assistant Vice President, Business Intelligence, Nicole Keating said: “While our work with True Tickets began as an initiative to keep tickets in the hands of our community and out of the hands of brokers, their mobile ticketing solution is, now more than ever, a critical component of our safety protocols.” An unexpected but positive spin-off has been their ability to offer contactless ticketing in a world recovering from the pandemic. Sadly, the reach of the scalping community has not been limited to ticket sales for events, as new age scalpers apply sophisticated algorithms to tracking the online releases of everything from the latest Nike trainers to NVidia’s 3000 series graphics cards. Using automated bots, these scalpers buy up all the available stock within seconds which then creates an artificial shortage. As has been the case with the release of Nvidia’s highly anticipated 3000 series GPU’s this has resulted in ‘resellers’ asking as much as $3000 for a graphics card that retails for $699. With a simple tweak of the blockchain code used by event hubs such as the Arsht Center, online retailers would be able to trigger individual smart contracts that ensured that each individual unit of a product sold online was going to an actual customer and not a platform looking to defraud the public. ✓Advancing the Potential of Ridesharing Despite being raised to never get in cars with stranger the cost-effectiveness of ridesharing combined with the ease of hailing a ride on short notice has seen the industry boom with start-ups like Uber and Lyft becoming multi-billion dollar companies while consisting of little more than some fairly basic technology, an app, and a control office. Yet the industry could be far more than what it is, and Arcade City is out to prove it. The innovative new rideshare hub is turning the industry on its head and using blockchain technology to do so. Inspired by the decentralised nature of the blockchain Arcade City CEO Christopher David began working on a model that better served the drivers and the people ordering their services. Rather than pre-setting rates and doling out contracts Arcade City allows the drivers to set their own rates, build recurring smart contract agreements with customers and even offer non-traditional rideshare services like deliveries, roadside assistance and more. This means that everyone from a student looking to work between classes and a small delivery business owner who needs additional income to pay his staff can all benefit from this decentralised blockchain-enabled opportunity. ✓Streamlined Banking Systems To decentralised currency evangelists the mainstream banking may be anathema, however, the reality is that the entire world runs on fiat currency systems and is underpinned by these traditional institutions. Three immediate areas that the blockchain could address are: Online identity verification systems – With the institution of protocols like Zero Knowledge Proof, an online user would only need to prove their identity at a single point. From there on that proof of identity is accepted by all other service providers on the blockchain. This reduces how far one’s personal data is shared enhancing your privacy, while still offering service providers and sellers the security of doing business with a trusted party. Financial clearing and payment settlements – With provable accounts, smart contracts, and the speed of transacting across the blockchain banks could begin to clear transactions and facilitate near instant global transfers while reducing costs by eliminating the multi-step processes that currently exist. Providing accounts for the unbanked – In poorer countries around the world there are estimated to be more than 2 billion people without access to any form of banking. Decentralised blockchain banking would allow secure, low cost, access for these people and allow them to receive international income to support their families and fight poverty. At its core banking is the simply the control, measurement, and facilitation of asset transfers between various private and public entities it can benefit greatly from the inherently secure and provable nature of blockchain transactions. The three items listed above are considered standard in any blockchain transaction, yet they would be revolutionary if applied to the traditional banking world. ✓New Era of Blockchain-Driven Advertising The World Federation of Advertisers (WFA) postulates that by 2025 click fraud and other underhand tactics will have cost the digital advertising industry as much as $50 billion in lost revenues. Like every other industry the online advertising world is rife with fraudsters. The reality is that as soon as you hand over funds to a third party for access to a framework that obfuscates its mechanics you open yourself up to being taken advantage of. This becomes more likely the more you spend as it becomes less tenable to track each individual advertiser and their click data the more providers you must engage to meet your ad spend requirements. However, this is all null and void when the programmatic advertising platform is built on the blockchain. As all agreements are facilitated by smart contracts and each transaction is visible in its entirety to the person paying for the traffic it is simple to determine where your money is being allocated and to review the clicks that you have purchased. This will make click fraud incredibly difficult to facilitate, and should some genius work out how to do it, you have the visibility and the tools to shut it down immediately. ✓Voting in The People’s Choice The right to vote is the backbone of every democratic society around the globe. Yet, as the allegations of Russian tampering that clouded Donald Trump’s presidential term proved there is a level of distrust around traditional voting mechanics, their controls, and their final outcomes. As we discussed earlier with banking and online advertising the blockchain’s very construction ensures the secure transmission of data, offers the ability to prove the identity of each individual participating in the transaction, and finally offers provably fair data based on the information it has gathered. In practical terms this would allow for voters to be registered in an uncrackable blockchain database, using smart contracts allow them to vote privately and securely for their chosen politician, and finally allow the electoral body to report on who received what number of votes. The blockchain is the ideal platform for facilitating free, fair and unhackable democratically sound elections. ✓Safe and Secure Online Gambling As passionate fans of the online gambling community we cannot overlook to the benefits and advantages of blockchain gaming. Beyond the ability to stake wagers via Bitcoin and other cryptocurrencies the blockchain is the ideal platform for hosting online casinos, online poker rooms, online bingo halls and sports books. Any blockchain-based gambling providers ensures: Your privacy – With the ability to store your data in an uncrackable decentralised environment your personal details and gambling history are guaranteed to be safe and secure. Provably fair gambling – The transparent nature of blockchain coding means that you can pull the server side results of each spin of the reels or deal of the cards. All blockchain-based casinos offer provably fair reports, so you have an obstructed view of your wagers and their outcomes. Secure money in and money out – Using blockchain based digital wallets to transact ensure that not only are your deposits processed instantly but they are untraceable. The same is true of your withdrawals as there is no delay in receiving your winnings once you cash out, and with the funds returning to the same secure wallet you deposited from they are also private. We can only hope that larger developers like Microgaming, Playtech and NetEnt begin to invest in transitioning their casino games from traditional gambling environments to blockchain based servers. While there is obviously a financial implication to this type of new technology shift there is no disputing that as blockchain adoption increases traditional server and hosting platforms will begin to diminish in favour of one that offers security, privacy, lower costs, and much higher speeds.
Key Takeaways: 45% of respondents had heard of Dogecoin, and 27.6% had invested in it. 30% of respondents believed that Dogecoin was the new Bitcoin. 48.8% of respondents regretted investing in Reddit-hyped stocks, while 40% regretted investing in Dogecoin. More than half of respondents were familiar with NFTs, while 40.5% had invested in NFTs. From Dogecoin to NFTs Bitcoin has been discounted before and still has its critics but always seems to come out on top. Even after years of disappointment, the digital currency came back stronger than ever. And with investing becoming more accessible to masses of people instead of the wealthy elite, we all want to know: What's the future of digital currency? As we saw with the GameStop story, large influxes of micro-investors have scale-tipping abilities comparable to those of established hedge funds. To better understand these scale-tippers, which we now know can hugely sway trading prices, we got to asking. More than 1,000 people across the country recently participated in our crypto trend research. They shared with us their opinions on everything from Reddit’s influence to Dogecoin and NFTs. If you're interested in what the average American was planning to do with these investment opportunities, keep reading. Determining the Future of Dogecoin Dogecoin was actually started as a joke in 2013 based on a popular Shiba Inu meme. But as we know today, jokes have power in the markets. Our study kicks off with a look at Dogecoin, how many Americans have heard of it, and how they feel about Elon Musk involving himself. While most people had heard of Dogecoin through social media (33.7%) or conversations with friends and family (21.7%), Elon Musk was single-handedly popularizing the coin as well. Eighteen percent of respondents had first heard of Dogecoin because of news covering Elon Musk's-related tweets. Most respondents either approved of or didn't care when it came to Musk's Doge-related information. Musk's tweets show enormous support for Dogecoin. When asked if he wanted the coin available for purchase on Coinbase, he tweeted with a resounding "Yes!" moving Dogecoin almost 10% north. Even if he meant it as a joke, we can say Dogecoin is at least considered a safer bet than the lottery –most respondents agreed that they would purchase Dogecoin over a lottery ticket, all costs being equal. Looking Forward to Dogecoin With Dogecoin getting so much attention on social media and from Elon Musk, we wanted to know what respondents felt the future of the currency was. They told us where they thought the price would go, what they would invest, and how it would compare to Bitcoin. People are placing a premium on Dogecoin's meaning in their life. Instead of investing "just for fun" or even to have a safe, reliable investment, the majority of Dogecoin purchasers see this as their chance to truly "get rich." They evidently have massive faith in the price of Dogecoin to soar, as they intended to get this rich with an average investment of $227. If Dogecoin goes up to $1 by the end of the year, however, which 23% of people thought it will, that $227 investment could be worth quite a lot, as the coin is hovering around a worth of just 5 cents at the time of writing of this article. Even with these high hopes, most people didn't see the coin as taking over Bitcoin's place. Instead, most felt Bitcoin would maintain its dominant stance in the cryptomarket. Buying With Bitcoin and Digital Currencies Digital currencies like Bitcoin are supposed to be exactly that: currency, or money with which to buy things. We next asked our respondents which retailers they wish accepted Dogecoin as payment. Most people thought it would be a perk for Amazon to accept Dogecoin as payment. While other stores were considered, 41.1% of respondents said they didn't really want any stores to accept Dogecoin. Evidently, the value often lay elsewhere. When asked, however, to consider what they would do were Amazon to release their own digital currency, the resounding answer was to invest. Sixty-four percent of respondents agreed that they would invest in Amazon's cryptocurrency. Fortunately for this group, Amazon's digital currency appears to be in the works. Trusting in Reddit The conversation around investing today often now leads to discourse about Reddit and memes. The next part of our study asks people what their response was to Reddit hypes and what investments they had chosen because of the platform's information. Similarly to an Elon Musk tweet, a group of Redditors also has the power to run up the price of alt coins (like Doge) when they put their mind (and money) to it. Even though it's highly associated with meme-style investing, the Reddit community's power has certainly been proven this year. It is not at all uncommon for digital investors today to use Reddit to inform their investments as well. Reddit's influence became unignorable with the GameStop phenomenon. The little guys from the internet were finally taking on the big hedge funds on Wall Street – and they were winning. GameStop was still the number one investment people made who took Reddit recommendations. Next was BlackBerry, which 31% of people also invested in because of Reddit. While BlackBerry was one of the biggest winners from the initial GameStop frenzy, this stock didn't have as large of a short interest as GameStop, making it harder to maintain the squeeze. The stock has fallen from $30 to around $9. Even though people were much more likely to invest in Reddit stocks than they were Dogecoin, they were also much more likely to regret the investment. While 48.8% of respondents said they regretted their Reddit-informed stock purchases, only 40% said the same thing about Dogecoin. While most planned to shed their Reddit investments within the next six months, perhaps they had higher hopes for Dogecoin still. Non-Fungible Tokens Chances are the acronym NFT has come across your radar more than once recently. NFT stands for non-fungible token. "Non-fungible" means that it's unique and can't be replaced –unlike Bitcoin, which can be replaced for another Bitcoin. NFTs, like truly one-of-a-kind trading cards, are part of the Ethereum blockchain at their highest level, though some others have implemented their own forms of NFTs. The last part of our study asks respondents to weigh in on this ongoing NFT boom. Just under half of respondents had even heard of Ethereum, though slightly more had heard of NFTs (which derive from Ethereum typically). While nearly a third couldn't provide the definition for NFTs, a whopping 61.7% of respondents planned to invest in them shortly. Women expressed particular interest in the opportunity, with 66.1% planning to invest in 2021. While millennials were most familiar with NFTs, almost a third of baby boomers knew the concept as well. NFTs made mainstream news when Beeple's NFT sold for over $60 million at auction – the most expensive NFT sold … so far. Trading and Trusting Even expert traders will tell you there's no way to predict the stock market. That said, there are certainly signposts and indications along the way. In today's Reddit-influenced and digital-informed markets, some of those signposts may be the communities that have arisen. With micro-investors banning together on such massive scales for the first time, the evidence compiled here from everyday Americans may actually indicate where digital currency trends may go. There's still optimism around Dogecoin and cryptocurrency and less hype around Reddit stocks and meme choices. That said, respondents weren't willing to sell everything just yet. If you're interested in having an investing-style community of your own, GamblersPick is the place for you. People from all over the world who share your interests and excitement are available to weigh in on whatever investments you may be considering. You'll also find news, guides, casino information, and whatever you may need related to money and fun! Head to GamblersPick today to check it out. Methodology This study uses data from a survey of 1,001 respondents familiar with cryptocurrencies located in the U.S. Survey respondents were gathered through the Amazon Mechanical Turk survey platform where they were presented with a series of questions, including attention-check and disqualification questions. 59.3% of respondents identified as men, while 40.7% identified as women. Participants incorrectly answering any attention-check question had their answers disqualified. This study has a 3% margin of error on a 95% confidence interval. 5.9% of respondents were Gen Zers, 60.8% millennials, 22.6% Gen Xers, and 10.7% baby boomers. Please note that survey responses are self-reported and are subject to issues, such as exaggeration, recency bias, and telescoping. Fair Use Statement Feeling the frenzy building in yourself as well? Community and sharing information is all part of it. Feel free to share this article, just be sure your purposes are noncommercial and that you link back to this page.
Top 10 Affordable Bitcoin Competitors for Savvy Hodlers
Shane Addinall posted a post in BlogBitcoin is one of the most exciting and globally impactful new technologies to hit the planet since the invention of the internet. With that being said it is important to understand the benefits and limitations of Bitcoin, and which other cryptocurrencies can fill in where Bitcoin falls short. With that in mind, we’re going to take a look at what Bitcoin’s 21 million limit actually means, investigate ten affordable Bitcoin competitors who offer long term acquisition possibilities, and discuss Bitcoin’s market cap to help you better understand the value of the cryptocurrencies you choose to invest in. Why Is Bitcoin Limited to 21 Million? An intriguing aspect of Bitcoin is the fact that when Satoshi Nakamoto designed his visionary decentralised virtual currency, he limited its expansion to 21 million BTC. More than 18.5 million Bitcoin have been mined in the first decade since the cryptocurrency’s creation, however, it is predicted that mining the last remaining 2.5 million coins (11.9% of total) will take anywhere from fifteen to twenty years to complete. This is thanks to a process known as The Halving. Nakamoto included a process which effectively cuts the Bitcoin rewards for mining in half every four years. In practical terms, the total BTC reward for 2016 was 12.5 million, however by mid-2020 the same amount of “work on the blockchain” only rewarded miners with 6.25 million BTC. This may sound like it is a lifetime away however it represents less than two decades of “carefree” mining before the only way to monetise the cryptocurrency will be via transactional fees and direct sales of the BTC you own. Who Are Bitcoin Competitors? Considering the real world limitations of Bitcoin here are 10 affordable Bitcoin competitors. For ease of use we have sorted them using the total percentage available for mining (based on CoinMarketCap data for 17 February 2021): Avalanche (AVAX) - price: $36.38, mining availability: 89% The Graph (GRT) - price: $2.18, mining availability: 88% Uniswap (UNI) - price: $21.44, mining availability: 69% Huobi Token (HT) - price: $14.50, mining availability: 61% Chainlink (LINK) – price: $32.19, mining availability: 59% Synthetix (SNX) - price: $24.27, mining availability: 56% XRP (XRP) – price: $0.53, mining availability: 55% Stellar (XLM) – price: $0.49, mining availability: 55% Cardano (ADA) - price: $0.89, mining availability: 31% Neo (NEO) - price: $42.58, mining availability: 30% Whether it is due to rising prices or the scarcity created by its 21 million limitation the fact is that Bitcoin will not be able to dominate the market for much longer. This means that the smart money is on diversifying your options by looking into altcoins which could grow into the next Bitcoin. What Does Bitcoin Market Cap Mean? When looking at any investment vehicle market cap, or market capitalisation, refers to the number of shares which have been bought and then held by the investors. In the case of Bitcoin, this would then refer to the total value of all BTC currently held by people who have either bought, traded or mined them. Traditionally calculating the market cap of stock would mean looking at the number of shares held by investors multiplied by the closing value of the stock. The same logic is applied to cryptocurrency market caps, here we look at the number of BTC being held multiplied by the current value of a single coin. What is the Market Cap Value of Bitcoin? In January 2021 market and consumer data provider Statista calculated the relative market cap of Bitcoin to be approximately $600 billion. This is an amazing success story when you consider that in 2013 analysts placed the company’s market cap at $1 billion. The reason for the surge in Bitcoin’s market valuation is based on the number of Bitcoin which have been mined and the recent price surge which saw the virtual coin’s value hit an astounding $49,951 BTC thanks to Tesla’s massive investment in the technology. For those doing the math on this, it may seem off-kilter given that approximately 18.5 million BTC have been mined to date. However, market analysts consider who much BTC is available for circulation. Given public reports of lost wallets, misplaced passwords and genesis blocks which cannot be traded the number of coins in circulation is far lower than the number of blocks mined.
Best Dogecoin Casinos in 2021
GamblersPick posted a post in BlogIf you know anything about cryptocurrency, then you'll know of the "joke" crypto Dogecoin. While it's true that it was first created as a joke back in 2013 (based on the doge meme), Dogecoin is no laughing matter now. Today, it's a currency used mainly by people on Twitter to tip one another. But did you know you can do a lot more with this crypto? For instance, there are lots of online casinos that actually accept this type of currency. Are you interested in gambling with Dogecoin now? Then you're in the right place! Here, we'll show you what the best Dogecoin casinos are for 2021! BitStarz Did you know that BitStarz was the first online casino to ever let punters bet with Bitcoin? This means that this casino is not only well-versed in crypto, but that it should be fairly easy and smooth to use Dogecoin as well. This casino was started in 2014 and they started allowing Ethereum and Dogecoin as of early 2018, so that's great news for you! And for those who want to use fiat money while gambling online, you'll be pleased to know that this site accepts those too. On BitStarz, you'll get to enjoy playing on over 850 games. You'll never get bored when you spend time on this site! Software providers that have contributed to these games include Evolution Gaming, NetEnt, Play'n Go, and Yggdrasil Gaming. Also, they're very generous in offering bonuses for signing up and making your first deposit. So this means you can stretch your bankroll a lot farther than on other online casinos. Deposit and withdrawal times are very short. You won't have to wait over 10 minutes, so you can trust that you won't get frustrated waiting for transactions to go through on BitStarz. Lastly, they have around-the-clock online support. No matter what time of day, you can depend on these experienced support staff members to help you out, as they have over 3 years of experience. FortuneJack Casino FortuneJack Casino is another online casino that was established in 2014. While they're known as a Bitcoin casino, they're actually the biggest Dogecoin casino around! So if this is your preferred type of crypto, you definitely have to try FortuneJack Casino out! On this site, you'll find over 1,400 games! Not only that, but they come from major software providers such as Evolution Gaming and Microgaming. And as of early 2019, you can also enjoy sports betting on this online casino. Because the online casino sphere is so competitive, you can expect the majority of them to offer generous welcome bonuses and other promotions. FortuneJack Casino is definitely not an exception! From the moment you sign up, you'll enjoy tons of excellent bonuses that'll have you coming back for more. What's awesome is you don't just get to use Bitcoin and Dogecoin. Other cryptos you can use on this website include Bitcoin Cash, Ethereum, Litecoin, Zcash, Dash, and Monero. If you ever need to get help, you have the choice of using either live chat or email. 7BitCasino Here's another online casino that accepts both fiat money and cryptocurrency. Coincidentally, 7Bitcasino was also established in 2014, probably because there was a surge of interest in crypto at that time. What's amazing about this online casino is that they have 5,000 games! What's even cooler is that 4,000 of them are exclusively for people who use crypto. Software providers who have made these games include NetEnt, Yggdrasil, and Microgaming. The cryptocurrencies you can use on 7BitCasino are Dogecoin, Bitcoin, Bitcoin Cash, Ethereum, Litecoin. As always, you can expect to find tons of generous welcome bonuses and other promotions. For example, 7BitCasino offers up to 5BTC in their welcome bonus and promises to give you new offers every week! If you ever have any questions, there's an extensive FAQ section on their website to check out. If you still can't find the answers to your burning questions, you can always get live support 24/7 with an agent. Another type of contact available to you is 7BitCasino's online contact form. Obviously, this will be much slower than How to Deposit and Withdraw on Online Casinos You now know some fantastic sites to gamble on if you want to play with Dogecoin. But how do you get started with using this type of cryptocurrency? First, you need to get some Dogecoin. You can purchase some at a number of cryptocurrency exchanges. Usually, you can buy Dogecoin with either fiat money or other types of crypto, such as Bitcoin. Once you acquire Dogecoin, keep it safe by depositing it into a wallet, whether they're hard (offline) or soft (online). Then, simply go to the online casinos that interest you above. If you want to commit to gambling, then deposit your Dogecoin by using your wallet. After your deposit goes through, then you're free to play! Try Out These Dogecoin Casinos Today Now you have a wonderful selection of Dogecoin casinos to try out! Plus, we've also shown you the general idea of how to deposit and withdraw on online casinos with this cryptocurrency. While Dogecoin might've started off as a joke, and you might've even bought some as a joke, isn't it great that you can potentially make some money off of it? Even if you don't, at least you'll get to spend your cryptocurrency doing something you love: gambling! So take your Dogecoin and start playing on these recommended online casinos. Striking it big with a huge jackpot could just be around the corner for you! Are you interested in trying out other crypto casinos? Then check out our list of the top ones around!