All About BTC, LTC, ETH mining as well as other alternative crypto currencies
While the Bitcoin debate around the block size continues the alternative crypt currency Dash, formerly known as DarkCoin, has shown how a consensus about an increase of the block size can be reached quickly and efficiently. By holding a vote among its stakeholders to increase its blocksize, even if there is not yet immediate need of such an increase, from 1 MB to 2 MB a consensus has been reached within 24 hours with 99 percent of the vote for the increase. Currently each block of Dash contains less than 10 transactions on average and is justa few kilobytes in size, so there is not much need of 2 MB block size, however with the developers expecting the blocksize to grow over time the need for further increase in the not so near future can be avoided (learning from Bitcoin).
According to Coinmarketcap Dash is currently the 5th crypto currency in terms of Market Cap, however you can also say it is the third one after BTC and LTC if you take out Ripple and Ethereum due to the first being pre-mined completely and the second one with a very large initial pre-mine. Dash has some interesting and useful advantages as compared ot Bitcoin and some other crypto currencies including much faster transaction times, offering more anonymity and still being mined with GPUs only (no ASICs) using the popular X11 algorithm. Lately there have been some interesting and positive news regarding Dash that have also resulted in the price of the altcoin increasing a bit in the last few days.
The cloud mining service Genesis Mining has added options for its users to mine alternative SHA-256 based crypto coins besides Bitcoin with the purchased hashrate. This is probably the first and only one to offer such service for cloud mining contracts for SHA-256 hashrate, just like they also did with the Scrypt cloud mining hashrate and the option for mining alternative coins and not only LTC. The new SHA-256 coin that you can choose to is currently Unobtanium (UNO), or you can choose to have your most profitable coins mined and automatically exchanged for BitcoinDark (BTCD), DarkCoin (DRK) or Litecoin (LTC).
Genesis Mining has been out of stock for their Scrypt cloud mining hashrate for a while, so currently you can only purchase SHA-256 cloud hashrate and the ability to mine only UNO or BTCD or to share your hashrate between these is interesting, and hopefully we are going to see some other coins available soon. Regarding Scrypt hashrate, since the hardware supplier for the hashrate was ZeusMiner and with regards to the company recently cancelling their plans for next generation chips probably the service will have to find another hardware supplier before offering more hashrate to customers. So for the moment Genesis Mining is only offering SHA-256 cloud mining hashrate that is no longer limited for mining Bitcoins and there should be no problems with availability since the supplier for the hardware here is Spondoolies Tech.
It seems that the continuing talk about regulating Bitcoin and more specifically the businesses operating with Bitcoins it fueling the interest in alternative crypto coins such as DarkCoin (DRK) that are focusing on their anonymity features. Regulating Bitcoin and the businesses operating with Bitcoins leads to all things that BTC and crypto currencies are against in their design, however it seems that the way to mainstream adoption needs regulation or so some countries say. The state wants to know how many crypto coins you have and how and where you are using them, even though they may say Bitcoin is not a currency. The reason that they state for that is of course “to protect” you from scams and “to protect” everyone else from the use of Bitcoins for illegal purposes. But are you ready to give away your privacy for the sake of being “protected”?
It is true that some users probably want to and use Bitcoin and crypto currencies for illegal things, but the same thing is true for the fiat – if you want to do something illegal and have the money you will find a way, regardless if the type of currency you use. The recent crackdown of the new Silk Road 2.0 and other illegal online markets may be used to give some bad PR for Bitcoin, however there are illegal online markets that do not work with crypto currencies, so what about these? But back to DarkCoin, anonymity has been one of the things that people using crypot currencies do want to have and there have been many altcoins appearing pushing some promising anonymity features. DarkCoin however remains one of the first and the most popular and widely used “anonymous” crypto coin, even though it had quite a few problems along the way, especially implementing new features, it has survived and will be here to stay. So long term investment in DarkCoin may not be a bad thing to consider, especially if you already have some DRK coins…