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Dogecoin (DOGE): Dogecoin is Trending Up

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While Dogecoin is going to the moon with hitting the latest rises in price, we have stumbled upon an article dating back on January 18th that talks about how Dogecoin can’t make a good long-term investment. Well, jokes on them! The “analyst” behind this article also claims that this coin would never be able to make it as a long-term investment because Dogecoin fans and holders are considering this coin to be a joke. So, let’s see how far this so-called “joke” went during the previous week.

A few Words on Dogecoin

As you all might know, Dogecoin is a cryptocurrency operating as a peer-to-peer value and existing within the blockchain systems. The currency was made to honor a famous internet meme, Doge – a funny Shiba Inu that has taken over the world a while ago. While Doge remains a meme icon, Dogecoin is working on providing all users and holders with fast and cheap decentralized transactions with no involvement with third parties.

All transactions are private and far faster and cheaper than the traditional way of making money transactions. Dogecoin uses the proof-of-work protocol for mining these coins, which means that all miners get awarded after verifying a transaction within a block. After every 600.000 blocks, every miner will get 10.000 DOGE reward for mining. Mining these coins, however, is pretty expensive as it demands lots of electricity.

Dogecoin is Trending Up

In 24 hours, Dogecoin jumped for over 10% against the dollar, which means that Dogecoin is trading at 0.0074$ per one unit as of February 15th. Another jump has been noted in the latest price which conditioned the current trading price per one unit of DOGEcoin, which means that there is a total increase of 12% against the dollar and a bit over 6% against BTC.

With all these rises, it could be easily concluded that DOGE is trending up, which leads to the further conclusion that Dogecoin surely represents more than a joke coin.

Considering the fact that Dogecoin is a coin that hasn’t had a software update in over two years, but has a billion in total market capitalization, imagine how great this coin could potentially become if DOGEcoin developers would start to implement new updates within their system.

However, it is less likely that any of the potential updates will happen soon because there are no announcements being made from the side of the team of developers behind Dogecoin. It also seems that the developers do not need any software updates or adding improvements to the coin, as DOGE is completely relying on their mascot popularity and the faith of their fans, followers, holders and community members.

Crypto Lunar Howl

It seems that Crypto Lunar Howl is set to become a trend in the world of cryptocurrencies. In case you are wondering, Crypto Lunar Howl represents a prediction about jumping prices that should occur on February 16th. Why this date in particular?

Well, in case you didn’t know, February 16th is set as Lunar New Year, commonly celebrated in China. The tradition revolving around Lunar New Year includes giving money gifts wrapped in red or green envelopes, so coin and token investors are set to transfer this tradition to the cryptocurrency market as well.

The prediction states that there will be a major selloff of coins during Lunar New Year and many people will be buying different tokens, among which DOGE coins are said to be a definite favorite of investors involved in this tradition-to-be.

If any coin could be the center of Crypto Lunar Howl, that would most likely be Dogecoin as howling suits the spirit of this coin and its community members that are “howling” every time Dogecoin goes “to the moon”, which is an expression commonly used within the Dogecoin community when DOGE is jumping in price.

If these predictions are true, Dogecoin should have another positive change in price, followed with another raise against the dollar during February 16th on the Lunar New Year.

How well will Dogecoin perform further in 2018?

Although Dogecoin is doing pretty well at the current moment, being ranked as the 36th best coin on the global coin ranking list with the trading price of 0.0074$ per one unit, this coin has still a long way to go until it could be worth a big deal.

Its market capitalization is currently nearly 1 billion dollars worth with almost 40 million dollars being traded only in the last 24 hours.

In case the trading volume would continue at the same pace, DOGE could lose at least one of two zeros in front of “74”, so in the next following months, this coin could be worth around 0.07$ per one unit. Dogecoin is still being traded at under a dollar price, so you can still invest in this cryptocurrency by making a bulk investment.

Hopefully, that investment would pay off greatly in the time to come.

Still, one question remains: given the fact that Dogecoin hasn’t got any implemented changes or any software updates, could this coin continue to grow at the same pace regardless of “passive” nature of this decentralized currency?

There is nothing left but to wait and see. In the meanwhile, we will wait for the Crypto Lunar Howl and see whether Dogecoin would live up to expectations.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of coinmarketcap.com

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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7 Steps to Recovery from a Crypto Trading Loss

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Whether you are a newcomer to the crypto market who mistakenly invested a large amount into the wrong coin, or a professional that made a well-researched decision and something still went wrong, the result it the same — you lost your money to the crypto market. This is a big problem, but also a problem that every crypto trader faces at some point.

The reason may be anything, from simple bad luck to the lack of research. Add to that the fact that the crypto market continues to be extremely volatile, and it is clear that not all of your trades are going to end up successfully.

Whatever the reason is, the fact remains that you experienced a loss and that this is a problem which can affect more than your funds. It can also affect your mind and feelings. Since every successful trade that you have the potential to make in the future depends on you, you have to recover first, and only then should you worry about the funds.

The road to recovery is different for everyone, and it will take a different amount of time and effort. However, there are a few general steps that you can take to recover from a crypto trading loss.

Step 1: Stop and calm down

You have just suffered a major loss. It may have been your mistake, or…

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