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Showing results for tags 'shiba inu'.

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  1. Many 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.
  2. 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.
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