DASH Surges past $90 USD #CryptoSurge

DASH evolution Logo

Sudden Surges in DASH value is no longer surprising anymore, even when there are new direct announcements about the currency. This weekend, DASH skyrocketed past $90 US in an event dubbed “Crypto Surge“.

DASH Crypto Surge 2017
DASH pushes past $90 USD

#CryptoSurge

Nearly Every cryptocurrency is experiencing immense growth, most likely caused by changes in the political and financial landscape. Tight financial regulations and uncertain political futures are causing all cryptocurrencies like DASH to gain more mainstream attention and hence more value. Here are some reasons why DASH, in particular, is growing like crazy:

DASH is available on more platforms:

Recently DASH is been added as a currency on the iOS wallet JAXX. It is one of few cryptocurrencies that are tradable on the iOS platform which supports private transactions.

DASH evolution:

DASH evolution Logo

DASH will receive a huge update in the near future which will allow it to gain mainstream adoption. Features such as sending to usernames (rather than long addresses) will greatly improve user friendliness.

How to Benefit from the Rise in Dash Value

Missed out on the rise in DASH value? You can still join in on the action now by signing up for DASH cloud mining. Cloud contracts cost the same whilst the value of the output (DASH!) has gone up. This means DASH cloud mining contracts give a higher yield than previously. Check out a full guide here: Genesis Mining DASH Return on Investment. 

Genesis Mining Dash Review

DASH mining On Genesis Mining Review

I’m going to cover DASH mining contracts on Genesis Mining. This is currently the best contract out of all the plans on offer at Genesis Mining. I made a comparison of all the Genesis mining contracts, and DASH is the most profitable, with more than two hundred percent yield (return on investment).

Important: There are risks associated with mining (no such thing as a free lunch). You should do a significant amount of research into what something is before you actually start. I’ve done quite a lot of research and will summarize it here in this review.

What is DASH

DASH is very similar to bitcoins in that it is a cryptocurrency that can be exchanged traded between people. It’s got a few advantage over Bitcoin:

  • Private Transactions – DASH has the ability to send transactions with anonymity. That’s one big advantage over bitcoin where all transactions are public. Hence with Bitcoin, anyone can track where the coin is going and where it comes from. DASH offers a layer of privacy that protects the user.
  • DASH also offers instant confirmation. Bitcoin transactions right now take 10 – 30 minutes complete. That’s very very long, and it really can’t be used as cash. Bitcoin is like a bank transfer DASH is like PayPal.

What is DASH Cloud Mining

When you mine DASH, you’re actually kind of doing calculations for the DASH network. You’re actually kind of helping these transactions move along. That’s the best way to describe what mining is so using a lot of computational power to verify transactions and that’s what you’re doing when you’re actually buying a Genesis mining DASH contract. When you buy the DASH contract, you’re actually renting a machine that does DASH mining. Every DASH contract last two years and when you buy one of these machines, it’s going to start mining immediately. So you’re going to start immediately doing calculations for the DASH network and going to be rewarded for that on a daily basis.

Whats Hash rate

Hash rate measures how many calculations you’re doing per second. The faster you’re doing it, the more calculations you’re doing, the more you’re going to get the more going to be rewarded from the network.

That’s the easiest way to describe it so if you’re mining 5 that means you’re just doing like have 5 mega calculations per second, and if you’re doing 100, that’s basically 20 times more. Yeah, 20 times so this is just basically making 20 times more money.

I’ve actually calculated that for you where you’re going to get a payback period of seven months so after seven months you’re going to get your money back. Hopefully and then out you’re going to start making money.

Everything that involves a high return evolves involves a high degree of risk that’s just the case I mean if you wanted very high security just buy US government bonds. There’s two risks associated with mining the first risk is of course currency so you can see that the price of DASH can fluctuate over time right now it just grew six percent over the last 24 hours, but it can also fall just as much. This because DASH has a very low market capsule and as a result, it can fluctuate a lot. Right now it’s at a pretty high state it’s at seventy-six dollars which are pretty good. I’m pretty like happy with DASH is that they got a really really good economy going on and a lot of videos covering DASH if your actual want to look at that specifics.

In general, so that’s the first spread that’s the value of DASH so if you’re mining something and the value that value decreases then it’s going to decrease your yield definitely

DASH mining Difficulty

Next, up is mining difficulty this is really the hardest thing to kind of calculate and it’s a little bit hard to explain. DASH is built around a system where the more people that are mining, the more harder it is to get coins. You’re all fighting for the same reward. So the amount of reward given by the whole system, in general, is the same, and everyone’s fighting for it. It gets harder to mind over time difficulty increases the reason why is because there are more people binding genesis mining contracts which mall buying actual miners is going to make the difficulty harder.

DASH Mining Technology

Another reason is Technology. You want just to think about your CPU’s on your phones they’re getting faster every day. And this is what’s happening if there’s new technology coming in it gets harder and harder to mind DASH, so that’s not going to decrease your profit per year. It’s very hard to estimate that because you don’t know what tech knowledge is coming in. And just any don’t know how many people are going to buy DASH mining, so usually, I have like it’s really hard to predict that.

DASH mining Profitability 

Please note that yields are affected by many uncertain variables such as DASH value, mining difficulty and other risks. This risks are not accounted for in the above calculation, read the article for additional information on these risks.

Check out a More detailed analysis here: Genesis Mining DASH ROI 

 

Genesis Mining X11 Return on Investment (ROI)

Click Here to read the updated article about DASH mining with April 2017 Updates

X11 is an algorithm that can be used to mine DASH, Litecoin (LTC) and Dogecoin. DASH is the most profitable and explosive currency to mine, with a recent skyrocket boost in value ( from $15 USD to $45 USD in a space of a month).  DASH is also the 3rd largest cryptocurrency in terms of market capitalization. In this article, we calculated the daily yields for X11 mining and worked out the Return on Investment for the 2-year X11 contract

On May 4th, 2017 we calculated:

  • 2 Years of DASH mining
  • Genesis-Mining with 3% off Coupon = 6bXKwD
  • Return on Investment (roi) = 286%
  • Changes in Difficulty and Value of DASH have NOT be accounted for.

What is X11 Mining

At a fundamental level, X11 is a type of mathematical algorithm. The X11 algorithm is used to mine coins such as Litecoin (LTC), Dogecoin (DOGE) and DASH. Because there are a lot of different coins that use X11, Genesis Mining can be set to mine a particular coin or automatically mine the most profitable coin. The following image shows the X11 settings on Genesis-mining.

X11 Genesis Mining Panel

The image above shows the default X11 mining option BTC (AUTO). With this setting, genesis-mining will automatically mine the most profitable currency automatically convert it into bitcoins. This is the most convenient choice as it reduces the need to create multiple wallets.

Due to the more growth potential of DASH, you can manually the genesis-mining to mine in DASH and deposit the output as DASH. Make sure you set a DASH wallet in the currency settings.

X11 Mining Cost

Genesis mining is currently selling X11 mining with 2-year contracts. Payment is made upfront for the 2 years. Everything mined during the 2-years will go to the contract owner. Unlike the Genesis mining bitcoin contract, there are no maintenance or electricity fees. This is an important factor in ROI calculations as the electrical bill can significantly cut profits.

Currently, X11 mining costs $8 USD for 1 Mhz. You can get a 3% discount with the X11 mining coupon “6bXKwD“.

X11 Mining Return on Investment (ROI)

Note: The following calculation assumes that X11 mining will be used to mine BTC(AUTO).

X11 Daily Yield

Daily X11 Mining Yield (BTC per MH/s)

X11 Yield calculations
We can see that the average daily yield is 0.000030 BTC per day. Over the 2 year period, the expected bitcoin yield is 0.0219 BTC. At the current exchange rate, this is worth $12.26 USD. This means over the whole contract length of 2 years, you will approximately yield $10.24 USD with a $7.76 USD purchase. This gives a Return of Investment (ROI) of 163% (two years, full contract).

Amount Purchased: 100 MH/s
Expected value of 2-year mining contract = $1454.64 USD
Cost of contract = $500 USD (Assuming coupon code “6bXKwD”)
Return on Investment = 290%

About Genesis Mining:

Genesis Mining is based in Iceland and has provided the most evidence for the existence of its mining operation.  Their data-center page contains videos of wide angle sweeping shots of its data centers, along with their employees installing bitcoin mining gear. Iceland also has one of the cheapest electricity costs at 5.54 US cents per kWh (source Wikipedia).

Click Here to Sign up with Genesis-Mining.  Remember to use the Promotion code “6bXKwD” to get a 3% off discount coupon!!

  • Update Dec 2016: Despite having a low ROI, Genesis X11 contracts are officially out of stock! This seems like a very popular contract!
  • Update Feb 2017: Article was updated to include new Dash Pricing and ROI information.
  • Update March 2017: Updated to account for the DASH’s rise in value and increased market capitalization.
  • Update April 2017: Updated new DASH pricing. Updated Return on Investment.
  • Update May 2017: Updated Roi. DASH value

Decred vs DASH

What is Decred

Decred (Decentralized Credit) is a crypto-currency that is focused on superior governance through decentralization. Decred can be transferred as a digital currency (like bitcoin). It has one key advantage, which is Decred can be used to create additional Decred over time, like interesting in a bank account. This is possible by a system called Proof of Stake, where people who hold Decred can help the system process transactions (and get paid for it).

Why Decred

Decred Value
Value of Decred has increased drastically over the past few months

Over the past 3 months, Decred has exploded in value, rising 1000% in value in a short period of time. Some believe that Decred is a sleeping giant that has awoken, whilst others accuse it of being a pyramid scheme.

 

Decred vs DASH:

  • Reward Distribution: Decred uses a highly advanced reward distribution system – rewards are split between miners, Decred holders, developers. DASH uses a similar system with a slightly different distribution ratio.
  • Proof of Stake system – Decred or Dash holders get “interest” by holding on to the currency. More specifically, holders vote on issues and get rewarded for it. DASH uses a masternode system which requires 1000 DASH before they can start voting (this cannot be transferred out unless the masternode is shut down). Due to the high buy-in price, DASH master nodes are extremely valuable. Decred uses a ticket based system, and tickets holders are chosen randomly to vote. This allows for a much smaller buy-in and greater participation.
  • Improved Voting system: The biggest objection with Bitcoin is that the community cannot easily vote on issues regarding updates to the protocol. With both DASH and DECRED, community voting is done by stakeholders (masternodes (DASH) or voting tickets (Decred).
  • InstantSend and Private Send – DASH has additional features to instantly process transactions (Instant Send) and anonymous transactions (Private Send). These features are unique to DASH

Where to Buy Decred

Decred is traded on the exchanges Poloniex, Bittrex, and Bleutrade. Decred is abbreviated as DCR.

Can you Mine Decred

Decred can be mined using the Blake256 algorithm (Minable with AMD / Nvidia GPUs). DASH can be mined using the X11 algorithm on special machines called ASICs (no longer profitable to use GPU to mine)

DASH Cloud Mining.

DASH cloud mining is possible (a process where you pay for a professionally managed machine that mines DASH). Check out our guide here: Genesis Mining DASH.

Humaniq Review- Brilliant idea, poor execution

Humaniq Logo

What is Humaniq

Humaniq is an attempt to give the 2 billion people on the planet without access to banking. Banking is especially important in developing countries, as it allows people to buy crucial items such as seeds, stoves, solar panels and even food. Currently, the reason why 2 billion people don’t have access to banking is due to a lack of a way to identify the candidates. Without proper identification, the system is prone to scams. Humaniq tries to solve this problem using blockchain (bitcoin) technology in combination with a biometric ID system.

Humaniq Initial Coin Offering (ICO)

Currently, Humaniq is attempting to raise money for their project in the form of an initial coin offering (ICO). This is a crowdsourcing strategy where the public is asked to contribute Bitcoin or Ethereum to the project in return for Humaniq currency (HMQ).

Why is the concept of Humaniq Amazing

Humaniq solves a few crucial problems that are facing financial systems.

  • Easy of Account Creation – Currently to create bank accounts, banks require passports and other official documentation which might not be available everyone. Humaniq requires biometric ID and can bypass this issue.
  • Accountability – Blockchain technology allows us to track where the currency is being transferred with absolute transparency. This is a great for preventing scams – eg, users can verify if money load is indeed going for the purchase of seeds and not weapons.
  • Free international transfers – Anyone can instantly transfer currency – without fees or delay.

Major problems for Humaniq

There is one major kink in Humaniq’s plan – the technology required achieve accurate biometric ID using smartphones don’t exist yet. The current Humaniq app uses Photo ID which is vulnerable to hacks using photos of the account owner.

We tried the Humaniq app and managed to access other user’s accounts accidentally when login in via facial recognition.

An argument could be made that the Humaniq white paper details a much better method for Biometric ID, using a combination of voice and facial movement to add layers of security. Whilst this sounds good, such a system has never been successfully built.

Companies such as Intel, Microsoft, Samsung, and Apple have all thrown millions at solving the identity verification system with no perfect solution. This problem is beyond the scope of a small team of engineers with small amounts of funding from an ICO.

Conclusion

Whilst the concept behind Humaniq is amazing, without proof that they can solve the biometric ID problem the project cannot work. Biometric ID a primary pillar of the project and without a 100% accurate system, users’ accounts can be hacked and their currency stolen. Humaniq must establish a perfect Biometric ID system as part of a minimum viable model and before releasing the idea to the public.

Review Rating

Rating – 2/5 – Amazing concept, poor execution.

Resources

Icorating review of Humaniq

Reddit – Humaniq is a Scam