Bitcoin: Currency or speculative asset?

In Forbes, there is an article asserting Bitcoin is an asset, not a currency. Its two main criticisms were Bitcoin’s slow transaction time (calling into question its use as a medium of exchange) and its instability (which calls into question its store of value). Because it doesn’t meet 2 of the 3 defining characteristics of money, it therefore is not money (the last characteristic is a unit of account, which bitcoin is clearly very good at, see here for more).

Now, I think the author’s assertions about transaction times are misguided. If you want to transfer USD across the country, it can easily take days depending on how you do it. This length of time transactions take doesn’t make USD not a currency.

The author does have a point, Bitcoin does fluctuate quite a bit in value. But to this I might ask, how much fluctuation is too much? Regardless of all the fluctuation, Bitcoin still has an actively traded price and a value. Is Bitcoin an excellent store of value? Well, perhaps not the most stable, but ultimately, I think it is.

Overall, the author claims bitcoin is an asset, rather than a currency. He states: “Rather it is a commodity asset that one trades, like gold or silver, in hopes that its value will rise and yield a trading profit.“ I disagree with this idea. Bitcoin is not like gold or silver. First, gold and silver are physical. More importantly, Bitcoin’s source of value isn’t intrinsic, but is derived from belief in its value. Gold and silver both have fundamental values, they have uses besides that as a tool of speculators, whereas Bitcoin has an unclear fundamental value. It’s not that it doesn’t have a fundamental value, it's just not as clear (see past articles of use of bitcoin and other blockchain technologies). Overall, I reject the idea that Bitcoin is something to invest in. Rather, I assert, it’s something to invest with. I use services like Btcpop to invest my bitcoin to make a return. I don’t, however, invest my fiat in Bitcoin. As Warren Buffet said, that would be like investing in checks:

"Stay away. Bitcoin is a mirage. It's a method of transmitting money. It's a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view." Source

While I agree Bitcoin in its present form is not the future, it symbolizes the future. It is a step toward the future, a world where physical currency is no longer needed.  Certainly the technical limits of bitcoin prevent it from global adoption, but perhaps another cryptocurrency can do that.

Is Poloniex is the next Mt. Gox?

Some people on the internet are saying Poloniex is the next Mt. Gox.  (As you probably know, Mt. Gox was the first big failed bitcoin exchange.) Well I don’t know if this is true, but if people think it is true, it may become true.

Cryptsy was an interesting example of unjustified fears becoming reality. Cryptsy had cryptocurrency stolen from them. This meant that if everyone withdrew their digital currency from Cryptsy, they wouldn’t have enough to cover all the deposits with them. (This meant they were operating similar to a traditional bank with fraction reserve banking.) Or in other words, they didn’t have the cash on hand to pay everyone that has deposited money (Cryptsy, however, was insolvent as well). They continued business as usual and did not announce the theft for fear of causing a scare. As Cryptsy made money, their capital was essentially restored. (In banking terms, Assets - Liabilities = Bank’s capital).  Once Cryptsy made enough money, they would no longer have to worry about a run on the “bank.”  An unrelated, unjustified rumor caused people to question Cryptsy. People simply questioning Cryptsy caused a mass panic which caused Cryptsy to fail and the stealing to come to light.

Now people are questioning Poloniex, just like they questioned Cryptsy in the past. Just the questioning of Poloniex could cause a scare, which could cause people to withdraw their Cryptocurrency. If enough people withdraw, it could bring to light other problems with Poloniex which could bring the exchange down. However, if there is no real issue, this might not affect them.

An additional reason Poloniex could be in trouble is that upward prices also increase credit risk. If a lender has traded cryptocurrency for fiat, the increase in price may make it difficult to repay a loan denominated in crypto. So if Poloniex has borrowed from his users, this may be an issue.

Lastly, it looks like many people are very delayed in when they can withdraw their money from Poloniex. This is a bad sign, and could be a sign of eventual shut down. Ultimately, I don’t think Poloniex will shut down right now, but only time will tell.

Still time to jump on the rocketship

I've made posts like this before, but Bitcoin's price is a bit crazy right now.

If you bought may book a few weeks ago, you would have had gotten a 43% return on your bitcoin holdings! Wow! (This is using CoinDesk BPI as of the official launch date compared to today).There is still time to jump into the arena, check it out on Amazon or Payhip.

Litecoin has made some big upward price movements too. This is probably due to segwit being activated. Thus resolving any uncertainty and improving the usefulness of the coin. Perhaps we might see similar results if BTC did that as well. But it's not just BTC and LTC that are big winners, lots of coins are going up. Nyan is the only coin in my holdings that hasn't gone way up.

Who knows what the future will bring. Either way, it might be a good idea to acquire some of your own Bitcoin. Not buying it necessarily, read my book to learn more.

The Price of Bitcoin

As promised in my last post, here is another guest post. This was written by Elliott Killian; to see more of his writing, check out his blog here:  http://elliottkillian.com/


The price of bitcoin for the past eight years has been very volatile ranging between less than one US dollar to over one thousand US dollars. Because of this drastic change, many ask: “What is Bitcoin?”. Is it a currency? A Technology? An investment tool? Or a scam? To answer these questions we have to examine how people use and value Bitcoin. A paper by Pavel Ciaian, Miroslava Rajcaniova & d’Artis Kancs did just that. They looked into the factors behind how bitcoin is priced. They wanted to know what the largest factor was. They examined the effects of the: global economy, number of learning about bitcoin (by views to the bitcoin Wikipedia page), attractiveness as an investment opportunity, and as a currency.

If you take any one theory each can not explain the pricing of bitcoin by itself. No factor by itself fully explains the price of bitcoin. If you split the price of bitcoin into different time periods at before or after October 2013 then these influences make more sense. This split represents early bitcoin when people were still learning about it from established bitcoin where people know what it was and were using it. For example, the number of people viewing the bitcoin site on Wikipedia searches did have an influence on the price of bitcoin when it was new, however, once it was established the number of people searching for bitcoin on Wikipedia had little effect on the price.

For the global economy, they found that it had no influence on the long-term price of bitcoin. This was similar to speculation. Speculation had little effect on the long-term price of bitcoin.

Here are my own thoughts after reading the paper and looking at bitcoin prices. I found that speculation had little impact surprising. Many people talk about using bitcoin as a get rich quick scheme by speculation. But speculation cannot deviate too far away from the true value of bitcoin measured by its use as a currency. Overall the use of bitcoin as a currency is what drives long term value and price of bitcoin. Simply put if more people use bitcoin the price goes up the fewer people use it the price goes down. What may be driving the price of bitcoin now is the black market online stores and legitimate businesses accepting bitcoin. In the future bitcoin may be used to as an alternative to currencies with high inflation or uncertain futures.

There is no one factor that determines the price of bitcoin. Multiple factors have affected bitcoin throughout its use. The long term price of bitcoin will ultimately be determined by how people use it. If more people use it as a currency the value and the price will increase. With this other factors such as speculation will have less of an impact on the price of bitcoin. Where ever the price of bitcoin goes you can know it is acting more and more like a currency than a speculative investment or scam.

Work cited
Pavel Ciaian, Miroslava Rajcaniova & d’Artis Kancs (2016) The economics of BitCoin price formation, Applied Economics, 48:19, 1799-1815, http://dx.doi.org/10.1080/00036846.2015.1109038

Many short updates

Lots has been going on in the Bitcoin world lately. It's an exciting time. Likewise a lot has been going on in my life, so I haven't been reporting too much ( I just barely finished my last final ever) . Anyways, expect to see another guest post in the near future.  And if you haven't seen my last simbi post, check that out here.  Also, I guess I forgot to post this when I found it, but some bitcoin atms were for sale on ebay http://www.ebay.ca/itm/252834287024.

I'm also considering my first giveaway. Only if there is enough interest. So like, plus etc this post, and will probably host a giveaway.

Also, I am looking for people to sell my ebook, you will get a great commission.  Inquire at btcplus.blogspot@gmail.com or use this link: https://payhip.com/auth/register/af584f85773cc2c


Edit:

Also working on a experimental new website, check it out www.btcplusblogspot.wix.com/btcplus.

SegWit vs Bitcoin Unlimited: Building a better Bitcoin

This is the second post in my guest post series by Justin, make sure to comment your thoughts!

The 21^st century has seen an explosion in the Internet commerce, business, and overall activity. Every day there are dozens of new businesses, hundreds of new websites, and millions of emails sent back and forth between those people who make the Internet run. It only stands to reason that new currencies would evolve to match these advances in business in communication. The strongest, and most well-known of these “cryptocurrencies” is known as Bitcoin. The Bitcoin was a pioneer in the world of cryptocurrencies. It has gotten the most press, but is also experienced massive fluctuations in value. Recently, Bitcoin has released to possible adaptations to the base model: Segwit and Bitcoin Unlimited. These two modifications to the core programming allow greater security, and usability. However there are certain differences in the way the program works.

In order to fully understand why Bitcoin needed to be updated, you need to better understand how cryptocurrencies work. Because there are no physical resources, such as gold, silver, or other precious metals, back in the value of the currency it is essential to track how the currency has been used in order to verify its legitimacy. Every Bitcoin has a certain amount of data attached to it, this includes past exchanges, who owned it when, and other information. Each of these pieces of information are necessary in the transmission of a Bitcoin from one party to another. However, with each transaction this information becomes bulkier, and harder to transmit. This is what both Segwit and Bitcoin Unlimited are attempting to solve.

Segwit, or Segregated Witness is among the newest adaptation to the Bitcoin code. Segwit separates the signature data from the main data block. Segwit takes that information from the main block and puts it into an extended block. This type of program change is known as a soft fork. It is still useable with the pre-changeover data blocks. The Segwit keys start with a 3, instead of the traditional 1. This new version addresses issues of scalability, and allows more transactions to happen every second. The major advantage of Segwit is that not everyone needs to use it in order for it to work. Bitcoin Unlimited is another story.

Bitcoin Unlimited is a system upgrade, and won’t cause current users to lose their coins. However, it does represent a radical change in the programing language of the Bitcoin community. Because the nodes are not backward compatible, Bitcoin unlimited and Bitcoin core are both competing for dominance in the cryptocurrency market. At the beginning of March, 2017, Bitcoin unlimited only controlled about 25% of Bitcoin miners, leaving 75% still using Bitcoin core. The major advantage to Bitcoin unlimited is that it removes the 1mb cap on main blocks. Along with other upgrades, Bitcoin Unlimited promises more transactions and more security.

The Internet has become the global market that our ancestors can only dream of. Unlike traditional currency still hold value, ideas like Bitcoin, and its sister currencies, seem to have hit their stride in the early 21^st century. With new technology comes new challenges. The success of the coin can hardly be called negative thing, but it has it’s own hurdles to cross. SegWit, being a soft fork, attempts to answer security problems without radically changing the established format. Bitcoin Unlimited, is a hard fork, It definitely has potential for new uses, and new products. Only time will tell if the community chooses to be secure the market share is already has, with Segwit, or take the drastic new-path with Bitcoin unlimited. The future holds great possibilities for this ground-breaking idea, and pioneering currency. 

First Guest Post:Shooting for the Moon, Powered by Bitcoin

This is my first guest post by Justin, I hope you enjoy!

Financial matters are some of the most stressful issues in the average person’s life. There’s never enough money to pay the bills, save for retirement, pay for school, or go out and have a good time. 

You spend your days working at a job, working an insane amount for your money.  The 21^st century has seen the rise of what have come to be known as “cryptocurrencies.” this new idea facilitates trade between people, companies, and even internationally. Cryptocurrencies such as Bitcoin, have captivated the digital world. Bitcoin has been met with fascination, ridicule, and a fair amount of mistrust and misunderstanding. Ricky H has written a book, called Zero to Moon, and in it he explains the basics of how to get started making money in this new, and exciting world. Bitcoin doesn’t have to be something reserved for someone else, a way for someone else to make money. The book shows you how you can harness the power of cryptocurrencies, and how to increase your personal wealth. There are three reasons why this new idea is intimidating. A lack of knowledge, a lack of ability, and a lack of resources are all reasons any new idea, especially Bitcoin, can seem unattainable and out of your grasp. He wrote this book specifically to demonstrate that the bitcoin isn’t just for others, it can work for you as well.

Someone is talking about Bitcoin every day, but few people know where it started, or who invented it. It was first created almost 10 years ago, Halloween night, 2008. The creator, or creators, known as “Satoshi Nakamoto,” was curious about creating a peer-to-peer to exchange system. In 2009, bitcoin was released as an open source software. 10 years later, tens of thousands of businesses accept Bitcoin is payment. While an entire Bitcoin is expensive, around $1100 at the time of writing, it is possible to buy fractional amounts of a single Bitcoin. This means, assuming you don’t have $1100 waiting around to be used, you can still benefit from rising or falling big coin markets. The risk here is that cryptocurrency markets can fluctuate wildly. There is no physical manifestation of their value. In Zero to Moon, Ricky discusses how Bitcoin is accessible to people with even a minimal amount of money. You don’t need to be an expert in financial markets in order to embrace the power of cryptocurrency.

Another reason why more people don’t get involved with Bitcoin is because they don’t know how to. Cryptocurrencies are not tangible, you cannot go to the store and pick one up,(although more and more stores are allowing you to spend them.) He explains how you can obtain bitcoins, either fractional, or multiples. Ricky walks through the best ways to find reputable sources, and where to find the best place to keep your coins.

Finally, people assume that in order to invest in a cryptocurrency you need to be a millionaire, or be super tech savvy. This is simply not true. There are people who spend their time “mining” Bitcoins. This however is a very labor intensive, computer intensive, electricity intensive process. Unless you already have the equipment, or just looking to mine Bitcoins for fun, He doesn’t recommend going about it that way. He shows you the most efficient, cost effective ways to get your hands in your first pieces of Bitcoin.

The Bitcoin market is gaining steam every day. While it’s not essential to future financial success, it is foolish to simply avoid it. He demonstrations all of these things to you and more as soon as you open the cover of Zero to Moon.

When not guest writing on blogs, Justin S is a carpenter and a pen maker. Check out his site at

BeautfulMusings or on Facebook at Beautiful Musings Facebook

Price changes and the alternative economy

I am currently in the process of hiring some guest writers. Thus far, I haven’t been successful in my attempts (In just a few hours since I wrote my first draft of this article, it seems my luck is changing, more on that in a later post!). Specifically, I wanted to address Segwit vs BU. A topic that is technical in nature, I was hoping someone else could write about it for me.  Looks like I will have to do a summary myself. Actually, Let’s leave it to better explainers than me:

https://www.reddit.com/r/Bitcoin/comments/5sxnwd/a_simple_breakdown_segwit_vs_bitcoin_unlimited/

https://99bitcoins.com/bitcoin-fork-segwit-vs-bitcoin-unlimited-explained-simply/

This is a critical issue to bitcoin. Just the debate seems to have serious impacts to bitcoins price.  Looking at recent price trends, we can see more volatility than normal.

If this continues, some speculate that ETH will replace bitcoin.

This of course means I will have to report more on ETH, which means I would have to rename the blog and everything.

In addition, I recently found a new website that people interested in alternatives to dealing with USD might find interesting. Its called Simbi, you can trade services for other services. Now, of course, simply trading services for other services has the problem of a dual coincidence of wants, meaning, you have to want what the other party is offering and they have to want what you are offering.  To overcome this, they offer a currency called simbi. Check them out here

Thanks Donald, Or maybe not

Amidst election night last night, I noted that the rise of bitcoin was rising. It appears to have gone back down to the $718 or so, compared to $740ish or so when I checked last night. Some analysts predicted a Trump win would cause a price increase for bitcoin. The financial markets were not anticipating a Trump victory, which caused a bit of volatility in stock prices. It seems reasonable to assume that the bitcoin community was also unaware that Donald Trump would win the Presidential election. Thus, the news of Trump’s victory should cause the price to alter, which it did. However, the price may not be staying. Coindesk offers an analysis on the topic here.

In other parts of the world, traditional currency are experiencing interesting effects.

In Zimbabwe, people are lining up at the bank to withdraw their funds. The government is proposing a new currency pegged to the U.S. dollar. The citizens of Zimbabwe are not giving this currency a vote of confidence. I think it's in these situations that bitcoin has the potential of thriving (with the exception of its scalability issues, but that is a topic for another day).

Basic Crypto Guide

1. Before you can use any cryptocurrency, you need to pick a wallet to use.

What type of wallet you want depends on what you want to use it for. If you intend on mining, stop and reconsider because you probably can’t make any money. But if you want to anyways, you need a full wallet. Otherwise, a light wallet is probably all you need.

Turns out this site is better at explaining this than me.

But for other cyrptocurrencies, check out these sites:

Litecoin

Dogecoin

2. Install the wallet and then back it up.

Obviously you need to install the wallet in order to use it.

Once your wallet is installed, the first thing you need to do is backup your wallet. I can’t stress this enough. You NEED to backup your wallet. I have not neglected to backup my wallet before, and I have lost coins. Don’t be like me. Backup your wallet first thing.

There are a few ways to do this. Personally, I use google drive. But you don't want your wallets just sitting in google drive vulnerable to theft. My wallets are encrypted using 7-zip. 7-zip is like Winrar but better and free. When you install a wallet, it will place a .dat or .wallet file on your hard drive. The file extension will be in your roaming folder. For example, the file path for a dogecoin wallet might be something like this: C:\Users\[username]\AppData\Roaming\Dogecoin . The roaming folder is often hidden, so you might need to turn on "show hidden folders" under your system setting for your computer. Grab the .dat or .wallet files you want to back up and put them in 7-zip file and set a password. Personally, I would also save this password using a system like keepass. Lastly, upload your 7-zip to google drive or dropbox.

3. Test the wallet

Now let's test your wallet. Here is how you can try it. You can use a faucet to get small amount of cryptocurrency for free.

View 3 more here

"sendo litoshi to bitcoin account"

Using some of my blog analytics I noticed someone found my blog using the phrase “sendo litoshi to bitcoin account”. I was quite baffled by this. What does sendo even mean ( By the way, litoshi is like a satoshi, but for bitcoin, in other words, its 0.00000001 of a litecoin)? So I decided to google it and attempt to find my blog. I didn’t find it, instead I found another blog on blogspot. So I clicked on that, perhaps creating or perpetuating some kind of cycle.

The blog is kind of similar to my own, except it's in Portuguese and it reads like one massive post.


Anyways, for a quick plug, I have updated my faucets page and support me page! Check them out, they have some nice ways to help me make money and ways for you to make some money as well.

Not that kind of hash

A few weeks ago I saw an ad on freebitco.in for another ponzi scheme/ bitcoin multiplier, this one was called cryptotriplex. I wondered to myself, does anyone fall for these still? So I clicked it.

And that is what I saw. It looks like they ran off with everyone money.

This isn't uncommon. It also happened recently with a website called hash ocean. Immediately after reading the name, I thought of hash profit and thought it must be a similar scam. I was interested enough to study it for a bit. I attempted to go to the site but the website didn't load; it was offline. It looks like essentially the same scam happened again, just with a slightly different name. I thought it was interesting that the site did advertise an actual physical location in San Francisco. However now that I think about it, San Francisco isn't an ideal place for a bitcoin mine.  Everything is way to expensive particularly space. It is funny, I visited the city just a day before reading about this, maybe I could have gone to the abandoned location if I knew.  Anyways, I would say don't trust any cloud miners without a lot of due diligence, and may not even then. But I would especially avoid anything with hash in the name. Based on the smells in San Fran, there is a lot of it there. And it almost goes without saying, stay away from money multipliers.

Bitcoin hits $700! (I actually spent some of my bitcoin!)

The price of bitcoin has been going crazy. Bitcoin is now at a 2-year high. I speculate some of this has to do the the upcoming halving.  You can read some of my thoughts on a old article I wrote for Coinbuzz. I might talk about about this and some of my experience writing for Coinbuzz in another post.

Anyway, with this huge upward price movement. I may have made a mistake. I didn’t anticipate the price of bitcoin to continue to rise so much, Earlier this week I made my first purchase with bitcoin ever! I used egift to buy an Amazon gift card, (I love shopping on Amazon!). I have a video on how to do it yourself at the bottom of the post.

Performing the transaction I experienced:

Fees	0.0007 BTC

Which was  ( at the time) about 40 cents of fees. This fee might seem high to you, but it is the result of receiving bitcoin in many small transactions.  A Lot of the bitcoin I have received is from faucets, and when you finally spend it, the transactions fees can be a bit high. Each source of btc counts as an input, which is one of the factors used in determining transactions fees. If you are interested, I talk about this more here.

As I continued and finished the transaction I noticed, it looks like Coinbase provides this service for egifter, so I don’t know if egifter even holds on to any of the bitcoin. Initially, I recommended spending some of your bitcoins right now if you have any, but I am no longer certain what the future holds for the price of bitcoin.

Big Tuna

I have just hit 10,000 views!  I mentioned this to my mother and she was astounded. But really it's not that big of an accomplishment.

In other news, it looks like the price of bitcoin has increased dramatically over the past few days. In my memory it has been awhile since bitcoin has broken $500. Let's see what happens, but it might be time to spend some of those bitcoin now! And I just learned a great way to do this...

Some of my friends when I talk to them about bitcoin are convinced bitcoin is used exclusively to buy drugs or other illicit things. “It’s just for buying pot” one friend would say. I would joke, no lol, that is what potcoin is for.  And I would elaborate that bitcoin isn’t just for drugs. You can buy anything with bitcoin. Anything. Like literally you can by tuna online with bitcoin, here is the link. Isn’t that something.

Another Birthday Post

My blog is now two years old! How exciting.  The price of bitcoin today is about $378 on coinbase or Poloniex. Here is my post last year for comparison.  I recently was looking through some of my old edited blog posts. Sometimes my ideas and drafts never become full fledged posts. Here are some small posts I never released:

I sometimes in my spare time ( which is often a bit limited) stream games , so I have xsplit gamecaster basically always running in the background just in case I want to start streaming something.  A few days ago I opened up my bitcoin wallet and xsplit gamecaster thought my bitcoin wallet was a game. Maybe I will have to stream it and see what happens. It probably won’t make for a great video though.

Jeb Bush may make bitcoin illegal

Jeb Bush has recently come out against Cryptography. The implications of this are huge and frankly his efforts seem misguided. Cryptography is a huge part of essentially all financial dealing on the internet, whether it be credit cards, bank info or even our beloved bitcoins. Bitcoins very existence is defined by cryptography, and if Jeb Bush wants to make actions against cryptography  it will clearly have an impact on bitcoin.

http://arstechnica.com/tech-policy/2015/08/jeb-bush-crypto-makes-it-harder-for-the-american-government-to-do-its-job/

https://firstlook.org/theintercept/2015/08/19/jeb-bush-comes-encryption/

Woes of Cryptsy

My money might be stuck in Cryptsy. Everyone says not to keep your money in an exchange. It’s a known fact you shouldn’t do it. Just like how everyone should know you need to backup your wallet. But have I used an unbacked up wallet? Yes, and I learned my lesson. Have I kept money in an exchange longer than I needed to? Well yes, that is true as well, and I might now be paying the price.

For a few months now people on Reddit have been warning of the dangers of Cryptsy, and encouraging people to not use the exchange. It seems that they were right. The exchange has just recently put up this message on their site.

In essence, it describes that one of the altcoin wallets they used had a trojan that stole roughly 13,000 BTC and  300,000 LTC. Depending on the exchange rate at the time, it is about $6 million dollars (using 400 for BTC and 3 for LTC). This event happened over a year ago.

Like a bank, Cryptsy didn’t actually need to have all its bitcoins on hand to in order to continue to operate. As long as it had enough for day-to-day operations, it could get by. However, as I mentioned before, many people raised questions about Cryptsy and its ability to continue to operate. This in essence caused a run on the bank. For the past few weeks bitcoin withdrawals have been restricted, and now the entire site seems to be stopped. Fortunately, I got most of my assets off the exchange. I just have a few fragments of a bitcoin that are stuck.

Another writer has provided a more in-depth analysis if you are interested, which can be viewed here.

Qoinpro review

Nearly two years ago, I signed up with qoin pro. The idea behind the site is you get free cryptos daily. This sounds great but, the site gives so little crypto, you will never actually get anything.

My balance for coins I actually care about are next to nothing. Worst yet, the withdrawal fees are so high I can’t get anything.

BitCoin

BTC

0.00002060774

0.00000002630

59.00%

0.00000004182

Your BitCoin balance:	0.00002060 BTC
Minimum transaction fee:	0.00010000 BTC
Minimum amount:	0.00015500 BTC

DogeCoin

DOGE

1.12645061934

0.00197690616

59.00%

0.00314328079

Your DogeCoin balance:

1.12645061 DOGE

Minimum transaction fee:

4.00000000 DOGE

Minimum amount:

1.34615384 DOGE

Maximum you can send:

0.00000000 DOGE

LiteCoin

LTC

0.00041519675

0.00000036252

59.00%

0.00000057641

Your LiteCoin balance:	0.00041519 LTC
Minimum transaction fee:	0.00100000 LTC
Minimum amount:	0.00126390 LTC
Maximum you can send:	0.00000000 LTC

They do make some cool banners.

You can even sign up under me here. Although, there isn't really a point.

Below is the front page.

I love the nonsense of this page. “Compound interest is the most powerful force in the universe”

What does that have do to with anything? There is no interest involved in this site at all.

In short, while Qoinpro is not a scam per se ( be careful of the daily coins you need to pay to unlock. They basically will never return their value [those kind of are a scam]) it won't make you any money. I suppose you would have better luck with facuets.

On a final final note, some of the altcoins are actually withdraw-able, like Feathercoin. But I don't really have an interest in that at this time.