A surge in demand for altcoins, coupled with large
amounts of altcoins being purchased by institutional investors, is what can be expected from the announcement.
Not exact matches
By selling
altcoins and tokens for the purpose
of financing or utilizing projects, companies that would be recognized as too risky or too small by traditional investment entities have a means to raise large
amounts of seed capital.
Since 2009, when Bitcoin became the first decentralized digital currency and numerous
altcoins started to emerge, the market cap term has also come into common use to describe the total dollar market value and available supply
of the total
amount of digital currency in circulation.
The «proof
of work» requirement that requires a ridiculous
amount of energy usage could be replaced with a different verification method, making the new
altcoin more efficient and saving all the world's energy from being sucked up to mine Bitcoin the way nanobots may one day suck up all the world's matter in a grey goo nightmare scenario.
If, for example, an
altcoin has a greater total
amount of coins, it just means each individual coin is worth less.
For example, using
Altcoin Exchange's tech, developers can lock ether tokens in an ethereum smart contract that specifies the funds will only be sent if an equal
amount of bitcoin is sent to a bitcoin address during a specific time window.
In order to do so, you need to move the
amount of Bitcoin you want to trade into an exchange that supports your
altcoin of choice.
They will get an extra 10 percent
of the
altcoin when they buy up to 1 Dash, and an extra 5 percent for each Dash purchased above that
amount (up to 5 Dash can be bought).
Notably, KRW pairs — which often spur on
altcoin rallies — currently comprise a relatively small
amount of Litecoin trading.
The CEO and founder
of Abra, Bill Barhydt, stated, «Since launching the new version
of our app in March, we've seen tremendous
amount of interest and support for the
altcoins we added to our platform.
To conduct a trade on there, you'll need to select «Quick Sell» at the top
of the page, input the
amount you're looking to trade and where you're located and then select «Ethereum
Altcoin» from the dropdown
of available offers.
A Hardware wallet costs a bit but you should definitely use this if you have a large
amount of Bitcoin or
altcoins.
If widely adopted, he hopes it will put an end to this confusion, and make new crypto users more apt to purchase bitcoin, if even in tiny
amounts, instead
of cryptocurrencies that he thinks might come back to bite them, since many
of the cheap
altcoins don't have much technical merit to back them up.
Despite losing a significant
amount of market share in the face
of a widespread
altcoin rally, bitcoin managed to rise during the first week
of the new year.
However, for small
amounts of Bitcoin or
altcoin they are a good solution.