Cryptocurrency Mining Hardware Maker Turns £1,000 into Over £1 Million in First Year

A 28-year-old cryptocurrency entrepreneur from the UK has managed to turn £1,000 (around $1,500) into over £1 million in just 18 months of trading. Josh Riddett, of Bury, Greater Manchester, has found success manufacturing specialist digital currency mining hardware.

 

Riddett’s company, Easy Crypto Hunter, has expanded from the sale of a single unit, with profits reinvested, into the UK’s largest GPU mining rig manufacturer. The firm also gives educational sessions on the cryptocurrency space, as well as providing accountancy services for investors and traders.

Cryptocurrency Startups Still Proving Profitable, Despite Market Dip

Even though those investing in digital assets have had a pretty rough 2018, that is not to say that all those involved in the cryptocurrency space have lost money through the ongoing bear market. One entrepreneur from Bury, UK, has managed to turn just £1,000 of savings into a seven-figure crypto company in only 18 months.

Josh Riddett started Easy Crypto Hunter in late 2017. He had just graduated from Lancaster University where he studied business entrepreneurship management. Evidently, his choice of course was a strong one since he has managed to make a roaring success of his first venture into the world of business – even despite the surrounding market conditions.

Riddett’s firm specialises in putting together GPU mining rigs, which are designed to secure the networks of various altcoins such as Ethereum, Monero, and Dogecoin. From its humble beginnings, Easy Crypto Hunter today boasts has more than 100 customers. These include business owners, property companies, and retirees. Those buying units hope to earn a side income by using GPU mining rigs to validate transactions on the network they work upon.

Riddett spoke to local news publication Prolific North about his company and the future of cryptocurrency:

“We are absolutely delighted to see the business take off and I strongly believe cryptocurrency is here to stay and is set to become more popular and more mainstream as the likes of BMW, Microsoft and Expedia accept it as a form of payment.”

The entrepreneur went on to state that he was confident that cryptocurrency is already causing massive disruption to the payments and banking industry. In his own words: “Cryptocurrency is the future.”

Riddett’s success was celebrated last month at a local awards presentation. At the Made in Bury Business Awards 2018 event, Easy Crypto Hunter scooped the prize for Technology Business of the Year.

Easy Crypto Hunter Planning Expansion As Others Downsize

The bear market of 2018 has already seen many digital asset startups laying off members of staff. Blockchain-based social network Steemit recently announced that they would be getting rid of as much as 70% of its workforce. Meanwhile, Ethereum’s chat platform Status will be losing 25% of its staff.

Bucking this trend is Riddett’s Easy Crypto Hunter. The Bury-based entrepreneur has stated that he is looking to take on more workers to help it keep up with growing demand for GPU mining units.


Source
Author: Rick D.
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Dogecoin (DOGE) – Over 95% of DOGE transactions are in real-world transactions not exchange trading: Reason to be long-term bullish

Dogecoin’s value is way deeper than trading speculation

Under current market conditions, most of the attention is on bitcoin (BTC), its various forks, and of course XRP.  But a little lower on Coin market cap is one coin that deserves more attention, and that’s Dogecoin. While often thought of as a joke, Dogecoin (DOGE) is probably one of the few coins that have a real utility in the market. The real value of any cryptocurrency is not in speculation, but in people buying and selling goods, sending money to their loved ones among others. However, most coins don’t achieve this purpose. A good number of coins are only used for trading on exchanges, even though that is not the core value of any currency.

To better understand this, let’s look at Dogecoin (DOGE) transactions in the past 24-hours. In this period, Dogecoin has moved over $688 million dollars’ worth of value. However, out of this, only about $26 million worth of Doge was used for exchange trading. This means that over 95% of all the Dogecoin’s that have moved in the last 24-hours was used by merchants and other real-world payments purposes. Just to give context on how big of a deal this is, Bitcoin Cash moved $163 million in the past 24-hours.

Of this, $134 million of it went to exchange trading. This means that a significant portion of Bitcoin Cash’s volumes come exchange trading and not usage by merchants, and people actually doing something with it, that isn’t price speculation. You can compare Dogecoin (DOGE) with lots of other coins, and it returns the same results. Dogecoin (DOGE) is being used, as a form of currency for actual value transfer, and that’s the whole essence of any cryptocurrency that has any hopes of getting adopted as a currency.

This has wide ramifications on Dogecoin (DOGE) going into the future. First, it gives it a strong intrinsic value that will grow over time. That’s because the more people use it, the more stable it will become, and act as an anchor to its value. With its strong fundamentals such as fast speeds, low transaction costs, and security, Dogecoin (DOGE) could emerge as the crypto that ends up revolutionizing how people transfer value on the internet, displacing most of the conventional payments method available today.   Secondly, this growing intrinsic value of Dogecoin (DOGE) could draw in more institutional interest in DOGE as an investment, and drive up its speculative value as well. Smart money looks for value that runs deeper than hype and speculation, and Dogecoin seems to have it.

With utility supporting its value, Dogecoin (DOGE) will continue to surprise the market when it comes to pull backs and bull rallies. Investors always get surprised when Dogecoin gets listed on a new exchange, or rallies more than the rest of the market. That’s because it is always assumed to be a joke coin. However, in reality, it’s the furthest thing from a joke in this market. It could easily become the future of payments. It would not be surprising if Dogecoin (DOGE) hit $1 in the next decade.


Source
Author: Nicholas
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Best performers in the last seven days!

A week ago, Black Wednesday came, brought a huge dip, and a week later most coins are still struggling to keep their heads above the water.

We checked to see how the top 100 coins by market cap are holding up.

There are almost no winners!

The only coins in green are Dogecoin (DOGE) and Compcoin (CMP). Tether is also “green”, although as a stablecoin, it sailed through this bear run unscathed as always.

Dogecoin Sees 15% Surge, “DOGE Is The Envy Of The Crypto World”

Dogecoin Continues To Head To The Moon, Even Amid Mixed Market

As reported on multiple occasions over the past few weeks, Dogecoin, the internet’s favorite meme cryptocurrency, has been on a rip as of late. Per data compiled by TradingView (seen below), the price of the asset, which is now the 20th largest cryptocurrency by market cap, has near-tripled in USD value over the past two weeks and has more than tripled in Satoshis.

It is clear that the price of the crypto asset has easily outperformed the market as a whole, with the market falling by upwards of 20% in the same period that Dogecoin essentially shot to the moon. At the time of writing a single DOGE token is worth $0.006813 cents and is up 13.16% on the day, which is impressive considering that a majority of the foremost altcoins are posting 3% losses to 1% gains for the past 24 hours. It seems that this isn’t any old low-liquidity pump as well, as the DOGE trading pairs have been backed by nearly $80 million in daily volume.

In the span of a few weeks time, the meme, blockchain-based digital asset rose from a zombie-like state to the primary topic of discussion within the cryptosphere. In fact, a majority of the foremost commentators, personalities, and analysts in this nascent space have taken to Twitter to comment on this asset’s jaw-dropping (to say the least) run.

“Dogecoin Is Making Your Cryptocurrency Look Like A Joke”

Most recently, on September 10th, Kevin Rooke, a Canadian cryptocurrency researcher, used his in-depth analysis skills to provide an interesting tidbit of research to his small, yet dedicated Twitter following.

Rooke first outlined the ever-changing sentiment surrounding Dogecoin, noting that in 2017, the asset was seen as a joke. But now, the meme currency, which has become popular for microtransactions, tipping, and gifting in the coin’s tight-knit (yet expansive) community, is making other cryptocurrencies look like a joke, alluding the performance of the asset and the blockchain backing it.

Bringing credence to his claim, the researcher brought up the statistics of the foremost crypto assets in existence. Highlighting the 24hr “Adjusted Tx Volume (USD),” Rooke revealed that Dogecoin’s volume is 3x that of Bitcoin Cash, 8x Litecoin, 13x Dash, 35x Decred, and 41x Bitcoin Gold.

In other words, despite the cryptocurrency often being used for microtransactions, the Dogecoin network has been seeing millions of dollars worth of DOGE, or $134 million to be exact, flow through its blockchain. It is also important to note that Dogecoin also has an astounding number of active addresses at 93,523 in the past 24 hours, which is surprising considering Litecoin’s 79,181, Bitcoin Cash’s 31,171, and Dash’s 38,430.

Mind-numbing figures aside, it is clear that Dogecoin is still seeing eye-opening levels of use and adoption, even amid one of the worst bear markets in the cryptosphere’s history. Closing off his tweet, Rooke wrote:

Dogecoin may have started as a joke, but their community is now the envy of the crypto world


Source
Author: Nick Chong
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Dogecoin Price Soars 60% Amid ‘Dogetherum’ Launch

Dogecoin price has soared nearly 60% possibly on reports that an alpha release of Dogethereum has been made available.

DOGECOIN PRICE SOARS 60%

Peoples TokenThe meme-spawned, inflationary-friendly cryptocurrency Dogecoin $0.00590 -6.9% has potentially benefitted from the recent release of Dogethereum, confirming previous rumours Bitcoinist reported in February.

Daily trading volume has also risen to a whopping $144 million from just $5 million days before, according to data from Coinmarketcap, an increase of 2800 percent.

The Shiba Inu-meme based cryptocurrency has reached a market cap of nearly $670 — or around 50% of its all-time high value, putting it number twenty overall, at press time.

DOGETHEREUM

Despite being a tongue-n-cheek project, the cryptocurrency does not lack in users. In fact, Dogecoin — an inflationary coin designed to incentivize spending and tipping — has shown to be more popular for a few periods compared to payment-focused cryptocurrencies such as Litecoin $66.3351 +0.12% and Bitcoin Cash $650.559 +0.36%.

The news comes as Ethereum developer made a decision “that a reduction to 2 ETH was the clear community consensus.”

TIPInitially, Dogethereum was set to be launched as a separate cryptocurrency, whose ticker would be DOGX. It would be created through a hard fork but, eventually, the communities decided not to split the Dogecoin chain.

A demonstration is expected on September 5th showcasing Ethereum and Dogecoin blockchains.

Meanwhile, Ethereum developers are moving forward with plans to migrate to a Proof-of-Stake protocol (Pos) to ensure that it is “scalable and decentralized,” writes market analyst Antonio Madeira of Cryptocompare.

“Ethereum plans to move to a Proof of Stake protocol where a lot less computational power is required and miners can earn rewards according to their balance.”

R. Tyler Smith @R_Tyler_Smith

I’ve been monitoring the community sentiment regarding the proposed mining rewards reduction for Ethereum. I think the community is clearly in favour of a reduction from 3 to 2 ETH per block, and an extension of the ice age for 12-18 months.

 Nevertheless, while the reason for the current DOGE price pump is not entirely clear, the Ethereum $297.210 +0.21% has not followed in its footsteps with only modest price gains over the past 24 hours as its next Constantinople upgrade is slated for October.


IZXHere at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author Allen Scott
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Dogecoin (DOGE) encourages crypto spending – And that’s the whole essence of CryptoCURRENCIES!

Many people are surprised that Dogecoin (DOGE) has survived up to this point. That’s because it was originally meant to be a joke coin. But the joke keeps growing, and is now getting listed on more exchanges. Actually, if its founder didn’t downplay it early this year, Dogecoin would be bigger than it is today. Luckily, it has a strong community backing it, a community that has kept the momentum alive. One of the biggest assets to Dogecoin is it’s practicality as a currency.



Unlike most cryptos including bitcoin (BTC), Dogecoin (DOGE) is inflationary. It increases in supply by up to 5% per year. You are probably wondering, why is an inflationary crypto a good thing, when more supply means lower value? Well, this is may be true, but only to a limited extent. If a currency is inflationary, it actually encourages people to spend it, and this increased usage creates more demand for the currency. Over time, the demand outpaces supply, thereby leading to an increase in value that is higher than the value lost to inflation. In short, Dogecoin gets to grow in value, while at the same time growing in usage as an everyday currency.

The problem with deflationary currencies is that they encourage hoarding. That’s because, if the expectation of an investor is that value will increase due to a constrained supply, then there is no point in spending. You would rather hold on to your coins, in the hope that the price will rise at a later date. This is quite evident in bitcoin. As of January this year, more than 60% of Bitcoins had never been spent, and that number has not changed much. The only reason why people buy bitcoin (BTC) is to HODL it and hope the price will rise. The same applies to other deflationary cryptos too.

Now this may work for bitcoin (BTC) but it won’t work for the rest. It will work for BTC because of its first mover advantage, and a huge network that gives it the capacity to pivot as a digital store of value. The rest of the coins pretty much need spending for them to have any long-term value at all.

As such, being deflationary is counterproductive. That’s because they encourage hoarding, which in turn reduces their chances of adoption. Everyone can rave on about adoption all day, but if no one is willing to spend, it won’t happen. The ending will be that many of them will gain in a deflation driven bubble, then crash for good due to a lack of any meaningful use-case in the real world.

In essence, Dogecoin (DOGE) happens to be one of the cryptos that could slowly take over as a currency for every day transactions. Once that happens, people will start to take it more seriously as an investment. The only thing that Dogecoin (DOGE) needs at this point is for its developer team to believe more in the coin, and talk it up more.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Nick Mwenda
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Is Dogecoin (DOGE) No Longer a Joke?

IS DOGECOIN (DOGE) NO LONGER A JOKE?

Cryptocurrency remains a technologically involved industry. The purchase and trade of Bitcoin is still a remarkably niche interest, despite a large market cap and increased use cases. This is partially the result of a sharp learning curve, requiring a high degree of tech literacy just to enter the market. Further, the process can be intimidating – something that Dogecoin (DOGE) attempts to mitigate. Started as a ‘joke’ coin in 2013, Dogecoin is now anything but. DOGE’s market cap is sitting at $560 million USD, which places it within the top 50 cryptocurrencies – despite existing solely as a friendly face for new investors.

Certainly, Dogecoin’s publicity proved itself successful. While other altcoins may have a higher market cap or greater individual value, Dogecoin is almost universally known in the blockchain community. The Shiba Inu face that they’ve used as an icon graces most chats and forums. Further, discussions of cryptocurrency value almost always contain a reference to Dogecoin’s mantra, “1 DOGE = 1 Doge.”

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More Transactions than Bitcoin Cash

As Bitcoin’s individual price became unwieldy for purchasing, a small subset of the community performed a hard fork and created Bitcoin Cash. Supposedly, this new cryptocurrency would be more usable as a digital currency. While BCH remains in a solid 4th place by market cap, there’s a trend that should be distressing for supporters – and promising for those invested in Dogecoin. Both Dogecoin and Litecoin have maintained a higher transaction rate than Bitcoin Cash. That means that more people are trading the supposed ‘joke’ coin than the strongest Bitcoin derivative.

There are several factors in play, including several controversies related to the Bitcoin Cash hard fork. However, something that the cryptocurrency market frequently forgets is the psychological impact of owning full integers. Fractionalization is great for allowing investors to get involved but owning a thousandth of a Bitcoin is less impactful than owning tens of thousands of Dogecoin. Although a percentage gain is the same, regardless of per unit price, new investors often hope that smaller coins will go up more easily.

Dogecoin based Smart Contracts?

Smart contracts are becoming ubiquitous in the crypto-sphere, as decentralized applications gain more traction. As a result, an upcoming fork of the Dogecoin blockchain will introduce smart contract functionality – dubbed Dogethereum. Still in the future, there’s not much information about the new project. DOGE succeeded in attracting the average person to cryptocurrency through levity. Dogethereum may be able to do the same for smart contracts and decentralized applications.


 

Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author Matt Rego
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