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Bitcoin vs Dash: Comparing Bitcoin and Dash

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Lets compare Bitcoin vs Dash. The amazingness of the cryptocurrencies doesn't seem to be tangible enough relative to its complexities. Lets compare Bitcoin vs Dash

Understanding some of the prominent benefits of Dash over Bitcoin.

Introduction

Bitcoin is a very complicated cryptocurrency. Its mass adoption is not anything more than the fantasies of a dream, as the technology is too technical to be understood by the normal people. It is amazing, but not that simple to be effectively applied by the masses. Bitcoin scalability has always been a major point of concern and debate the community professionals, but doesn’t seem to be coming on any grounds regarding the matter. Also, the increase in the block size is been discussed for years together. The Crypto domain is to be a lot more ambiguous than it seems. It is no wonder that using the cryptos to transact is far more complex than using PayPal or Paytm. The amazingness of the cryptocurrencies doesn’t seem to be tangible enough relative to its complexities. Lets compare Bitcoin vs Dash.

 

Bitcoin vs Dash: Transactions

A long string of addresses feels quite unusual when one is extensively used to Fiat transfers. Currently, even the transaction fee has skyrocketed and if a particular transaction is not been attached with sufficient amount of transaction fees it might remain forever in the unconfirmed transaction pool itself. Hence even micropayments which were earlier possible seems to have been completely eradicated due to the high transaction fees.

On the other hand, the transactions on the Dash network is lightning fast when compared to Bitcoin. Dash even provides a special Insta send service which allows for a provision of getting the transactions confirmed quickly. Hence, people who aren’t patient enough to wait for hours together can opt for Dash. Due to the late confirmations price slippage might occur, which is another misery in itself.

Bitcoin vs Dash: Scalability issue

The dash community also strives to bring extensive cooperation between the stakeholders. This was clearly evident when the scalability issue daunted over Dash. The community members obviously had heated arguments as well as discussions but just within a span of 24 hours, they all decided to increase the block size. The problem which hasn’t been solved for years by the Bitcoin community and continues to persist even today. The problem was done in 1 day itself by the Dash community. The incident represents a strong oneness and reliability among them. This doesn’t mean that Dash is completely perfect but it’s ability to upgrade itself with time, is what matters, unlike Bitcoin.

There is also a PrivateSend feature available in the Dash network. By using this particular feature optional feature a user can completely hide his or her identity. As Dash is considered to be synonymous with Cash which has no digital footprint, this privacy feature undoubtedly adds to the convenience of the users.  

 

Bitcoin vs Dash: Community Funding and control

It is absolutely worth mentioning, where the funding comes from, for these organizations. As Bitcoin network is completely decentralized and hence a number of prominent cryptocurrency institutions have come forward in order to fund for the Bitcoin development and research. But there is a catch, with funding comes authority over the decisions, hence the institution which is funding the community the most, it is an unwritten rule that it has the most authority over the decision making.

Whereas this is not the case, for the Dash community as most of the funding is done by themselves only. 45% of the total Dash funds go to the miners, 45% is received by the master nodes of the network, and the remaining 10% is utilized for the for the development of the community. In this case, there are a number of prominent master nodes whose decisions are taken into account in order to reach a common conclusion.

Bitcoin vs Dash: Public address

Another feature of Dash is its public address. Here each and every public address is associated with a human-friendly name, similar to an email address rather than a string of random characters. The transactions are made simpler by giving names to the addresses so as to prevent the transactions to reach a wrong destination. Since, once the transactions are initiated they cannot be reverted back this feature is crucial, as it associates rememberable names to the address.

Conclusion

Although Bitcoin was the Pioneer in the cryptocurrency trend it undoubtedly cannot be considered as the best solution for the current financial practical scenario. The cryptocurrencies like Dash have been coming forward who have their own set of pros and cons. It all jots down, to the need for the day, where currently scalability is one of the major concern. Hence the cryptocurrency Dash seems to be more promising than Bitcoin.

#Exchange

5th Largest Korean Cryptocurrency Exchange: Coinnest Shuts Down

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Coinnest which is one of the largest cryptocurrency exchanges in Korea made an announcement that it is going to shut down its operations in the midst of some financial, admin and legal problems.

 

Coinnest Shuts Down:

According to a recent publication by Coinnest, bitcoin exchange, the exchanges is shutting down its operations. Coinnest had earlier closed down its new account creation services on 16th April 2019.

 

According to the exchange, it is going to terminate the trading and deposit features at the end of this month. However, the users shall be able to withdraw their cryptocurrencies from the exchange until 30th June 2019.

 

coinnest-screenshot

website screenshot

 

Following the decision to shut down its operations, the exchange has made an announcement regarding the decrease of the minimum withdrawal amount as well the withdrawal fees. Coinnest warned the users that no user shall be able to withdraw their funds after 30th June 2019.

 

Last year, the CEO of the exchange, Kim Ik-hwan was arrested by the South Korean police for fraud and theft. Since then, the exchange had been facing a bad time. The CEO was found guilty by the court and was sentenced to prison along with a fine of $2.5 million.

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#Bitcoin Price Analysis

BTC to USD: Bitcoin Price Analysis, BTC going to rise?

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Bitcoin price is supported strongly around $5200. BTC is currently in a bullish momentum with the next aim of $5400 and $5500.

Technical Indicators:

Support Levels: $5200, $5150

Resistance Levels: $5350, $5400, $5500

 

Key Points:

  • Bitcoin price is currently trading well above $5200 support level.
  • BTC is gaining momentum and trying to move over the $5350 resistance zone.
  • A bullish pattern is being formed with support around $5200 on the hourly chart.
  • Bitcoin price is currently in a bullish momentum and might move towards $5400 and $5500 resistance levels soon.

 

Bitcoin Price Analysis:

Summary: Bitcoin price is supported strongly around $5200. BTC is currently in a bullish momentum with the next aim of $5400 and $5500.

 

This week, bitcoin price maintained a slow bullish pace after rising over $5100 level. BTC was able to maintain its position above $5100 and $5200 support levels after breaking through the major resistance around $5200. BTC was able to close over the 100 hourly SMA. After falling up to $5190, bitcoin price was able to recover sharply to over $5300.

 

Bitcoin price spiked up to $5365 before correcting downwards. The support around $5250 proved strong enough to stop further declines and BTC was able to maintain its position above the 100 hourly SMA. Also, a bullish pattern is being formed with support around $5200 on the hourly chart.

 

BTC will most probably experience some dips, however, it remains strong support around $5200. The current target for bitcoin is $5350 above which it might test $5400 and $5500 resistance levels.

 

BTCUSD Price Chart 20 April

BTCUSD Price Chart 20 April

 

The chart shows that bitcoin price is currently trading with a bullish force above the $5200 support level. Until BTC remains above this support, there are high chances of BTC testing the $5400 and $5500 resistance levels. However, if the support level is broken, Bitcoin might fall down to $5150 and $5100 supports.

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#Bitcoin

Donald Trump policies push Mexico to Bitcoin

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Mexico has seen a new all-time high trading volume on localbitcoins. This comes out on the back of the announcement from the Trump Whitehouse.

Mexico has seen a new all-time high trading volume on localbitcoins. This comes out on the back of the announcement from the Trump Whitehouse that remittance payments of Mexican migrants in the United States of America will potentially be the target of new restrictions essentially ending the possibility of Mexican migrant workers to be able to cheaply send money back home to their families.

 

Mexico adopting Bitcoin:

Mexico has been experiencing a massive increase in the number of transactions on localbitcoins. Mexican migrant workers are believed to be exploited by the remittance companies which are charging around 10% fees. What is essentially being discussed here by the Trump Whitehouse is a new tax on these migrant workers. The number that they are currently floating around is a 3% tax on the remittances going from the USA to Mexico. This may not seem super crazy but considering the $33.4 billion which were sent to Mexico in 2018 alone, that extra 3% could mean $1 billion more per year for the United States government.

 

98% of the transactions that were sent during the last year, were sent via electronic means which means that there is actually a very strong remittance route that is ready for mass disruption going from the United States to Mexico and Bitcoin could be the perfect answer. However, the average size of a remittance payment from the United States to Mexico is $322 last year and the problem is that if the fees rise again exponentially on bitcoin, then bitcoin might not be the ideal cryptocurrency for these kinds of smaller remittance payments. Maybe we are going to see some other cryptocurrency being adopted in that situation. But regardless of which cryptocurrency is used, we can see that there is a clear need for disruption as government policies again seeks to impede or overly exploit the free float of money.

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