6 Best Bitcoin Mining Hardware ASICs Comparison In 2017
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So I finally gave Honeyminer a try. (my personal semi-review)
This review was last updated 11-30-18 When I first was interested in trying this program I couldn't find anything about it. it seems a lot of people were too scared to try it since their is like no information about it other then from the web page itself. to be honest I was a bit scared to try it. I've tried many other software of this kind, on a "test" machine I'm not afraid to lose on a secondary network and router... incase its a scam or gonna give me a virus and I suggest anyone installing mining software do the same as a rule of thumb. please keep in mind the software is still relatively new and they are working to improve it still. They seem to be hiring as well if your interested in helping them grow by working for them look near the bottom for their contact e-mail. ____________________________________________________________________________________________________ This review is for the windows version of Honyminer Because its still relatively new I knew could go one of two ways "sacm software" like most every mobile mining app or even quite a few desktop ones - Or legit. I'm glad to say after using it for a month it seems legit. I was able to withdraw from it no problem. If your system is really crappy It might not work that well on your computer or mining rig. There are no ads and the program doesn't seem to disrupt any day to day activity at least not on my main system, however you can of course expect increased heat production of your system as with any mining software, adequate cooling is important in mining. Anyways Honyminer is as close to an easy one click mining software as I have come. they seem to be making a "pro" version too for more hardcore miners. They do take a fee which is to be expected *look near the bottom for fee information\* but that fee goes down significantly if you have multiple GPU's mining.. The good thing about it for me was it let me kind of set my rig to "autopilot" so to speak. If you wish to see the H/s numbers in real time, go to you settings and view the "expert logs" which will also tell what coin is being mined at the time ____________________________________________________________________________________________________________ Pros
Withdrawals (I know I shouldn't have to say this but some mining software is a scam and wont withdrawal anything. This was tested with coinbase only so far and it went through with no issue.
(new) If you go to your dashboard > Activity on their site you can see a list of all GPUs/CPUS and computers that are minding with information about their temperature, the coin they are currently mining, number of cores, and the potential 24 hour revenue for each. This is just like the "see full activity" feature in the software itself but you can check it from anywhere
(new) You can set the app to only mine via GPU or CPU if you so choose in settings.
(new) a miner console has been added which should make some of the more experienced miners a little happier.
when you click "see full history" it takes you to their webpage where you can see all the transactions (where your Satoshis came from) and are labeled according to how they were acquired (Mining Credit, Mining Bonus, Referral Mining Credit, Referral Mining Credit Tier 2, and Bonus (meaning other kinds of bonuses like from leveling up) They are all time stamped and have an ID number
Easy to use/easy to instal I literally had no trouble setting it up or installing it. it was quick and easy
GPU and CPU mining
Mines many different types of cryptocurrencies depending on what's more profitable at the time (autopilot)
withdrawal as BTC or (it says in the withdrawl section "coming soon ETH, LTC, " but I dont think its a priority yet and Im not sure if they scrapped the idea of USD withdrawals all together or not but I don't see it there)
Idling option: for example soon as you use your mouse or type it will stop mining.
appears in the "task manager" which Is another one I should not have to say but you'd be surprised how many fake mining software will not show up there or will be listed with a inconspicuous logo or disguised as a system process.
Works in system tray if you'd like to multitask and your system is up for it.
can be set to mine soon as you boot-up
Frequent mining "bonuses" you will probably see a lot of them on your transaction history.
A "level-up" system which I've not seen before that pays you extra Satoshis for reaching the next "level" think like exp on video games, you get rewarded for leveling up and the higher your level the higher the bonus generally. the "next bonus" will update the closer you get to leveling up.
You can use multiple computers/rigs on the same account and see them all from any system with the appinstalled.
2 factor authentication which IMO is a must for anything like this, set that up on their webpage asap.
earnings log which you can acass from the website manually or clicking "see full history" on the app
can see your earnings as USD or as BTC.
shows you a quick earning comparison between today, and the previous two days. (if you don't see it update the software)
"pro" version currently in the works which I look forward to trying.
1st and 2nt tier referral rewards.
referral profits DON'T come out of the person you referred profits they come out of Stax Digital's profits so there is no guilt for referring people to this product. I've seen or heard of referral programs that actually punish the referred folks by taking a commission of what the person would have made in addition to taking their normal fee... in this case it comes out of the fee that Honyminer already takes from all users and not anything extra as far as I know.
referee's also get rewarded like if you were to sign up from my links you would get 1000 free Satoshis just for installing the app. (if you prefer to sign up directly that's fine too but there is no signing bonus if you go that route (unless you use someone else's referral link) as far as I'm aware. Whatever works for you really.
team is open to suggestions/feedback, friendly, and respectful.
code is audited (at least at least that's what they say)
you can add multiple wallets on their webpage. and delete them at will.. another one I should not have to say but still even today some places will not give you that basic functionality.
able to see what type of coin each CUP/GPU is mining at the time. (check out the options and "see full activity"
Proandor con (depending on how you look at it)
uninstalling gets rid of most of the components that enable it to be used, but seems to save some of the logs and some other files (but I was able are to search for and remove em in file explorer. many programs of any kind do that always so it's not that big of a con to me but I can see how it may bother some.
you are not asked to create a password, they create one for you but you can change it once you have logged in if you wish from their website. This can be looked at as a good thing to some or a bad thing to others for various reasons. If this is no longer the case please let me know.
when clicking on the app to see your full history of transactions it will take you to their webpage and make you log in again sometimes. this is a good or bad things depending on how you look at it I suppose. I personally prefer having to log in again.
no graphs, +/- earnings overtime comparisons. but it does have some logs to see what your mining in the expert logs section but not as much information as I would like. (miners console was added that also has more detailed info) but im hopeful for the future. Every mining software that was any good started somewhere.
installer was still packed with the first version when I downloaded it onto another setup so yea you need to update it right off the bat. It doesn't take very long, but I like it when software packs installers with the latest version (I don't know if this has changed but if you downloaded it and its already the latest version let me know)
may have trouble initiate some GPU's although I cant possibly test for every kind I have put the ones that didn't work for me below and will update it also if anyone else tells me it doesn't work with a certain setup.
_________________________________________________________________________________________________ COMPATIBILITY: (sorry it keeps adding asterisks to the card model for no reason) WORKED ON: every nvidia card tested so far with card models dating back from 20014 to now.. Worked on some surprising low end and or old CPU and GPUs. like the AMD Radeon R9 380 card in addition to a AMD Athlon II X3 450 Processor and it mines just fine.. of course that processor doesn't make much on its own lol.. but thats an extra 2 or 3 cents per day by itself. I've also tested it with an i3,i2Most AMD cards worked but I ran into issues with a few so maybe it's easier for me to just tell you what did not work. DID NOT WORK ON: --- any of the AMD ATI Radeon HD 4250's tested so far (2) that particular card It didn't work at all for mining like never enabled the gpu but the cpu on that machine did work however it would generate an "error" on start up but otherwise did not disrupt the mining on that system except if I turned on idle earning mode, I would get a bunch of errors as it was trying to access the GPU. we need the functionality to enable or disable hardware individually I think. (errors or no errors it just seems like a good thing to have.) OR a system that had both a AMD Radeon R7 Graphics and a AMD A8-7650K Radeon R7, (4C+6G) which surprised me considering some of the things that did work lol... but I think it might just might be that one system, but either way can't vouch that it will work. That system was pre-built and wont allow the parts to be changed or easily removed to be worth the effort since I have to use it for other things so unfortunately I can't test these on another mainboard at least not with wasting some time, money and patients that Id rather dedicate elsewhere for now. I had some issues using one RX Vega 56 card but i think it's was just that card because another one did work just fine.________________________________________________________________________ FEESW/comparison to nicehash I'm not sure if this post will be helpful to anyone looking into this software or anyone whos looking to try a different mining software but if it dose great. -- nicehash charges the following fees as far as "selling/mining" or withdrawing. Payouts for balances less than 0.1 to external wallet 5% Payouts for balances greater than or equal to 0.1 BTC to external wallet 3% Payouts for balances greater than or equal to 0.001 BTC to NiceHash wallet 2% Withdrawal fees from NiceHash wallet Withdrawals from NiceHash wallet are subjected to the withdrawal fee, which depends on the withdrawn amount and withdrawal option. WITHDRAWAL OPTION AMOUNT TO WITHDRAW FEE Any BTC wallet From 0.002 (min) to 0.05 BTC 0.0001 BTC Any BTC wallet More than 0.05 BTC 0.2% of withdrawn amount Coinbase More than 0.001 BTC FREE - No fee. but they also say Minimum Coinbase withdrawal limit is adjusted dynamically according to the API overload._____________________________________________________________________________ honyminer fees are based on number of GPU's working. 8% for 1 GPU or for 2 GPUs or more the fee is 2.5%. The only withdrawal fee is the standard BTC transaction fee that bitcoin charges and it doesn't go to honyminer. When they add the other withdrawal functions that fee cam be avoided I suppose. _________________________ Earnings: in comparison to nicehash Update: sometimes software / test networks will give a view that can be off + or - a few percent compared to actual. A lot of different things can affect your earnings including where you are located in the world, I'm not sure how many of you uses more than one mining software day to day , ISP issues, crypto price fluctuation, updates to fee's, and inaccuracies in test software/networks can affect results. but I go back and forth between different ones from time to time and I think that's good practice to keep options open. I notice that honey miner seems to do better for me at night-time and early morning/afternoon is when it has the most trouble raking in the crypto's That said I've been trying to test to see how this compares to nice hash earnings, with two of my buddies. So this is an average between the 3 of our profits vs loss compared to nice hash, I'm using a two 10 GPU/ 3 cpu setups, while one of my buddies is using two 1 gpu, 2 cpu setups and the other is using two 30 gpu mini farm's. We each have 2 networks each located relatively close by *less than .5 mile the furthest one* one with honyminer running and the other with nice hash and we are looking over 24 hour periods When all three of us have the results for one day, we average our results together. In all we will be looking over a 14 day period. UPDATE: the results below were done well long before the latest update to the software so I do not know if they have changed, Id have to do another round or perhaps some from the community could give me their results and save me a bit of work. I'm not sure when Id have the time to dig into it again. Sorry that it took me so long before I could get on here to post the results of the last few days of the tests.
Day one: -5%
Day Two: +10
Day Three: +1%
Day Four: -6%
Day Five: -2%
Day Six: +11%
Day seven: +2%
Day eight: +1%
Day Nine: -5%
Day Ten: -11%
Day eleven: +8%
Day Twelve: +1%
Day Thirteen: +1%
Day Fourteen: -1%
Seem to be a bit smaller then nicehash at times and higher at other times. it seems to for me at least payquicker and it gets deposited in my nicehash account sooner than I expected. hopefully when they let up pick which coin to mine on our own it may help somewhat, and any of you who want to move smaller volume will probably benefit when they add the functionality to withdraw other coin/usd. anyways when their autopilot system works it works great but when it doesn't it's just "okay" for lack of a better word... _____________________________________________________ Contact: they have a contact us part on their webpage and they also have a reddit page which I was made aware of from contacting them https://www.reddit.com/HoneyMine Careers: If anyone is interested in working for them the job listings at the time of this typing were for Senior Java Developer(s) and Customer Service Representative(s) the email listed is [[email protected]](mailto:[email protected]). id suggest you check their site for the requirements I just added this part to the review as a courtesy if anyone's interested its not meant to be a focus of it. But I know we have some really talented people on reddit who care about the crypto world passionately so id rather give honyminer a chance to have some of those sort on their team since it might help improve the software faster for the end users.. if that makes sense. _________________________________________________________ UPDATE: If a question reminds me I left out something I think should have mentioned Ill try to add it here so ppl don't have to scroll all over the place.. I don't write many reviews (for anything) so I don't know if this one was any good or not but I hope it was okay.. and I'm still a new reddit user relatively. I just wanted to make this review mainly because there is next to no information on honyminer when I looked for it and maybe it can help anyone whos interested in it. browolf2asked Is it basically like nicehash then? : A: In a way, its like nice hash that its cloud based, but you get paid not just when your pool completes an order. there are no "buyers" only "sellers" if you look at it that way...I hope I'm wording this the right way.. It's just straight up mining and they take their fee but compared to nicehash the fees for "mining" are different karl0525asked: do you know if we can contact the honeyminer dev team and see if they will communicate here on Reddit. Might give them some good ideas what us miners are looking for? Worth a try maybe? Thanks: A: I submitted a question to their "contact us" part of their webpage and I got a reply from them, this is the message I received below: Thank you for writing in and for your interest in Honeyminer. We always welcome feedback and suggestions from our users. We are currently planning on expanding our online and social media presence. Please check our our Reddit page: https://www.reddit.com/HoneyMine
As Game Boy Turns 30, It’s Time to Recognize Its Inventor, Nintendo’s Maintenance Man
Everyone knows Mario used to be a plumber, but few realize that Game Boy’s designer used to be Nintendo’s maintenance man. Yesterday marked the 30th anniversary of Game Boy’s release. (It was originally launched in Japan in April 1989 before coming to North America later that year.) But few stories celebrating the revolutionary handheld noted its inventor, Japanese video game designer Gunpei Yokoi, who filed for the patent for the Game Boy in 1982. As hard as many have tried, it’s difficult to overstate the impact that the Game Boy had on Nintendo, and the gaming industry as a whole. But the coverage has shown how easy it’s been to overlook the influence of Yokoi, who passed away in 1997 at age 56. At the time of its launch, home console systems like the Atari 2600, Nintendo Entertainment System, and Sega Genesis had already blazed trails into living rooms, worldwide. But the Game Boy was the first mainstream hit that allowed players to break free of their home’s televisions and take gaming to their bedrooms, cars, or, well, anywhere. And it certainly took video games into the future. Game Boy was so popular that it remains one of Nintendo’s highest selling game systems ever, bested only by the Nintendo DS, another handheld, which sold 154 million units. The Game Boy sold 118.69 million units over its lifetime. By comparison, the Switch, both a console and handheld gaming device, has sold 36.87 million units to date, though it was just released in 2017. Nintendo’s best-selling non-portable console is the Wii, with 100 million systems sold. After the Game Boy was released, Yokoi himself went on to have an illustrious career, working not only on hardware but also on game franchises like Metroid, alongside renowned Nintendo leaders like Shigeru Miyamoto. Through the years, Yokoi’s legacy has faded, but his trajectory from maintenance worker to the designer of the Game Boy should not go overlooked. Yokoi graduated with a degree in electronics before undergoing the job search routine many are familiar with, according to Game Overby David Sheff, which tells the history of Nintendo. That search led Yokoi to Nintendo, where he maintained assembly line machinery that made hanafuda cards, a type of Japanese playing card. “Yokoi was the entire maintenance department,” Sheff writes. At the time, Nintendo was more of a toy company than the gaming giant it’s known as today. But it was already looking towards the future, and one day Nintendo’s then-president, Hiroshi Yamauchi, called Yokoi into his office. He wanted Yokoi to join Nintendo’s newly established “games division,” specifically to engineer something for the company to sell over the holidays. According to Game Over, Yokoi asked, “What should I make?” Yamauchi’s response: “Something great.” From there, Yokoi worked on many delightful Nintendo products, including the NES light gun. His band of research and design engineers were known as “a band of samurai,” Sheff reports. And even now, decades later, Yokoi’s Game Boy remains impactful—not just helping to cement Nintendo’s legacy as a dominant video game company, but fundamentally changing how games are played.
Console gaming is hardly different from PC gaming, and much of what people say about PC gaming to put it above console gaming is often wrong.
I’m not sure about you, but for the past few years, I’ve been hearing people go on and on about PCs "superiority" to the console market. People cite various reasons why they believe gaming on a PC is “objectively” better than console gaming, often for reasons related to power, costs, ease-of-use, and freedom. …Only problem: much of what they say is wrong. There are many misconceptions being thrown about PC gaming vs Console gaming, that I believe need to be addressed. This isn’t about “PC gamers being wrong,” or “consoles being the best,” absolutely not. I just want to cut through some of the stuff people use to put down console gaming, and show that console gaming is incredibly similar to PC gaming. I mean, yes, this is someone who mainly games on console, but I also am getting a new PC that I will game on as well, not to mention the 30 PC games I already own and play. I’m not particularly partial to one over the other. Now I will mainly be focusing on the PlayStation side of the consoles, because I know it best, but much of what I say will apply to Xbox as well. Just because I don’t point out many specific Xbox examples, doesn’t mean that they aren’t out there.
“PCs can use TVs and monitors.”
This one isn’t so much of a misconception as it is the implication of one, and overall just… confusing. This is in some articles and the pcmasterrace “why choose a PC” section, where they’re practically implying that consoles can’t do this. I mean, yes, as long as the ports of your PC match up with your screen(s) inputs, you could plug a PC into either… but you could do the same with a console, again, as long as the ports match up. I’m guessing the idea here is that gaming monitors often use Displayport, as do most dedicated GPUs, and consoles are generally restricted to HDMI… But even so, monitors often have HDMI ports. In fact, PC Magazine has just released their list of the best gaming monitors of 2017, and every single one of them has an HDMI port. A PS4 can be plugged into these just as easily as a GTX 1080. I mean, even if the monitoTV doesn’t have HDMI or AV to connect with your console, just use an adaptor. If you have a PC with ports that doesn’t match your monitoTV… use an adapter. I don’t know what the point of this argument is, but it’s made a worrying amount of times.
“On PC, you have a wide range of controller options, but on console you’re stuck with the standard controller."
Are you on PlayStation and wish you could use a specific type of controller that suits your favorite kind of gameplay? Despite what some may believe, you have just as many options as PC. Want to play fighting games with a classic arcade-style board, featuring the buttons and joystick? Here you go! Want to get serious about racing and get something more accurate and immersive than a controller? Got you covered. Absolutely crazy about flying games and, like the racers, want something better than a controller? Enjoy! Want Wii-style motion controls? Been around since the PS3. If you prefer the form factor of the Xbox One controller but you own a PS4, Hori’s got you covered. And of course, if keyboard and mouse it what keeps you on PC, there’s a PlayStation compatible solution for that. Want to use the keyboard and mouse that you already own? Where there’s a will, there’s a way. Of course, these aren’t isolated examples, there are plenty of options for each of these kind of controllers. You don’t have to be on PC to enjoy alternate controllers.
“On PC you could use Steam Link to play anywhere in your house and share games with others.”
PS4 Remote play app on PC/Mac, PSTV, and PS Vita. PS Family Sharing. Using the same PSN account on multiple PS4s/Xbox Ones and PS3s/360s, or using multiple accounts on the same console. In fact, if multiple users are on the same PS4, only one has to buy the game for both users to play it on that one PS4. On top of that, only one of them has to have PS Plus for both to play online (if the one with PS Plus registers the PS4 as their main system). PS4 Share Play; if two people on separate PS4s want to play a game together that only one of them owns, they can join a Party and the owner of the game can have their friend play with them in the game. Need I say more?
“Gaming is more expensive on console.”
Part one, the Software This is one that I find… genuinely surprising. There’s been a few times I’ve mentioned that part of the reason I chose a PS4 is for budget gaming, only to told that “games are cheaper on Steam.” To be fair, there are a few games on PSN/XBL that are more expensive than they are on Steam, so I can see how someone could believe this… but apparently they forgot about disks. Dirt Rally, a hardcore racing sim game that’s… still $60 on all 3 platforms digitally… even though its successor is out.
See my point? Often times the game is cheaper on console because of the disk alternative that’s available for practically every console-available game. Even when the game is brand new. Dirt 4 - Remember that Dirt Rally successor I mentioned?
Yes, you could either buy this relatively new game digitally for $60, or just pick up the disk for a discounted price. And again, this is for a game that came out 2 months ago, and even it’s predecessor’s digital cost is locked at $60. Of course, I’m not going to ignore the fact that Dirt 4 is currently (as of writing this) discounted on Steam, but on PSN it also happens to be discounted for about the same amount. Part 2: the Subscription Now… let’s not ignore the elephant in the room: PS Plus and Xbox Gold. Now these would be ignorable, if they weren’t required for online play (on the PlayStation side, it’s only required for PS4, but still). So yes, it’s still something that will be included in the cost of your PS4 or Xbox One/360, assuming you play online. Bummer, right? Here’s the thing, although that’s the case, although you have to factor in this $60 cost with your console, you can make it balance out, at worst, and make it work out for you as a budget gamer, at best. As nice as it would be to not have to deal with the price if you don’t want to, it’s not like it’s a problem if you use it correctly. Imagine going to a new restaurant. This restaurant has some meals that you can’t get anywhere else, and fair prices compared to competitors. Only problem: you have to pay a membership fee to have the sides. Now you can have the main course, sit down and enjoy your steak or pasta, but if you want to have a side to have a full meal, you have to pay an annual fee. Sounds shitty, right? But here’s the thing: not only does this membership allow you to have sides with your meal, but it also allows you to eat two meals for free every month, and also gives you exclusive discounts for other meals, drinks, and desserts. Let’s look at PS Plus for a minute: for $60 per year, you get:
2 free PS4 games, every month
2 free PS3 games, every month
1 PS4/PS3 and Vita compatible game, and 1 Vita-only game, every month
Exclusive/Extended discounts, especially during the weekly/seasonal sales (though you don’t need PS Plus to get sales, PS Plus members get to enjoy the best sales)
access to online multiplayer
So yes, you’re paying extra because of that membership, but what you get with that deal pays for it and then some. In fact, let’s ignore the discounts for a minute: you get 24 free PS4 games, 24 free PS3 games, and 12 Vita only + 12 Vita compatible games, up to 72freegames every year. Even if you only one of these consoles, that’s still 24 free games a year. Sure, maybe you get games for the month that you don’t like, then just wait until next month. In fact, let’s look at Just Cause 3 again. It was free for PS Plus members in August, which is a pretty big deal. Why is this significant? Because it’s, again, a $60 digital game. That means with this one download, you’ve balanced out your $60 annual fee. Meaning? Every free game after that is money saved, every discount after that is money saved. And this is a trend: every year, PS Plus will release a game that balances out the entire service cost, then another 23 more that will only add icing to that budget cake. Though, you could just count games as paying off PS Plus until you hit $60 in savings, but still. All in all, PS Plus, and Xbox Gold which offers similar options, saves you money. On top of that, again, you don't need to have these to get discounts, but with these memberships, you get more discounts. Now, I’ve seen a few Steam games go up for free for a week, but what about being free for an entire month? Not to mention that; even if you want to talk about Steam Summer Sales, what about the PSN summer sale, or again, disc sale discounts? Now a lot of research and math would be needed to see if every console gamer would save money compared to every Steam gamer for the same games, but at the very least? The costs will balance out, at worst. Part 3, the Systems
Xbox and PS2: $299
Xbox 360 and PS3: $299 and $499, respectively
Xbox One and PS4: $499 and $399, respectively.
Rounded up a few dollars, that’s $1,000 - $1,300 in day-one consoles, just to keep up with the games! Crazy right? So called budget systems, such a rip-off. Well, keep in mind that the generations here aren’t short. The 6th generation, from the launch of the PS2 to the launch of the next generation consoles, lasted 5 years, 6 years based on the launch of the PS3 (though you could say it was 9 or 14, since the Xbox wasn’t discontinued until 2009, and the PS2 was supported all the way to 2014, a year after the PS4 was released). The 7th gen lasted 7 - 8 years, again depending on whether you count the launch of the Xbox 360 to PS3. The 8th gen so far has lasted 4 years. That’s 17 years that the console money is spread over. If you had a Netflix subscription for it’s original $8 monthly plan for that amount of time, that would be over $1,600 total. And let’s be fair here, just like you could upgrade your PC hardware whenever you wanted, you didn’t have to get a console from launch. Let’s look at PlayStation again for example: In 2002, only two years after its release, the PS2 retail price was cut from $300 to $200. The PS3 Slim, released 3 years after the original, was $300, $100-$200 lower than the retail cost. The PS4? You could’ve either gotten the Uncharted bundle for $350, or one of the PS4 Slim bundles for $250. This all brings it down to $750 - $850, which again, is spread over a decade and a half. This isn’t even counting used consoles, sales, or the further price cuts that I didn’t mention. Even if that still sounds like a lot of money to you, even if you’re laughing at the thought of buying new systems every several years, because your PC “is never obsolete,” tell me: how many parts have you changed out in your PC over the years? How many GPUs have you been through? CPUs? Motherboards? RAM sticks, monitors, keyboards, mice, CPU coolers, hard drives— that adds up. You don’t need to replace your entire system to spend a lot of money on hardware. Even if you weren’t upgrading for the sake of upgrading, I’d be amazed if the hardware you’ve been pushing by gaming would last for about 1/3 of that 17 year period. Computer parts aren’t designed to last forever, and really won’t when you’re pushing them with intensive gaming for hours upon hours. Generally speaking, your components might last you 6-8 years, if you’ve got the high-end stuff. But let’s assume you bought a system 17 years ago that was a beast for it’s time, something so powerful, that even if it’s parts have degraded over time, it’s still going strong. Problem is: you will have to upgrade something eventually. Even if you’ve managed to get this far into the gaming realm with the same 17 year old hardware, I’m betting you didn’t do it with a 17 year Operating System. How much did Windows 7 cost you? Or 8.1? Or 10? Oh, and don’t think you can skirt the cost by getting a pre-built system, the cost of Windows is embedded into the cost of the machine (why else would Microsoft allow their OS to go on so many machines). Sure, Windows 10 was a free upgrade for a year, but that’s only half of it’s lifetime— You can’t get it for free now, and not for the past year. On top of that, the free period was an upgrade; you had to pay for 7 or 8 first anyway. Point is, as much as one would like to say that they didn’t need to buy a new system every so often for the sake of gaming, that doesn’t mean they haven’t been paying for hardware, and even if they’ve only been PC gaming recently, you’ll be spending money on hardware soon enough.
“PC is leading the VR—“
Let me stop you right there. If you add together the total number of Oculus Rifts and HTC Vives sold to this day, and threw in another 100,000 just for the sake of it, that number would still be under the number of PSVR headsets sold. Why could this possibly be? Well, for a simple reason: affordability. The systems needed to run the PC headsets costs $800+, and the headsets are $500 - $600, when discounted. PSVR on the other hand costs $450 for the full bundle (headset, camera, and move controllers, with a demo disc thrown in), and can be played on either a $250 - $300 console, or a $400 console, the latter recommended. Even if you want to say that the Vive and Rift are more refined, a full PSVR set, system and all, could cost just over $100 more than a Vive headset alone. If anything, PC isn’t leading the VR gaming market, the PS4 is. It’s the system bringing VR to the most consumers, showing them what the future of gaming could look like. Not to mention that as the PlayStation line grows more powerful (4.2 TFLOP PS4 Pro, 10 TFLOP “PS5…”), it won’t be long until the PlayStation line can use the same VR games as PC. Either way, this shows that there is a console equivalent to the PC VR options. Sure, there are some games you'd only be able to play on PC, but there are also some games you'd only be able to play on PSVR. …Though to be fair, if we’re talking about VR in general, these headsets don’t even hold a candle to, surprisingly, Gear VR.
“If it wasn’t for consoles holding devs back, then they would be able to make higher quality games.”
This one is based on the idea that because of how “low spec” consoles are, that when a developer has to take them in mind, then they can’t design the game to be nearly as good as it would be otherwise. I mean, have you ever seen the minimum specs for games on Steam? GTA V
Actually, bump up all the memory requirements to 8 GBs, and those are some decent specs, relatively speaking. And keep in mind these are the minimum specs to even open the games. It’s almost as if the devs didn’t worry about console specs when making a PC version of the game, because this version of the game isn’t on console. Or maybe even that the consoles aren’t holding the games back that much because they’re not that weak. Just a hypothesis. But I mean, the devs are still ooobviously having to take weak consoles into mind right? They could make their games sooo much more powerful if they were PC only, right? Right? No. Not even close. iRacing
CPU: Intel Core i3, i5, i7 or better or AMD Bulldozer or better
Memory: 8 GB RAM
GPU: NVidia GeForce 2xx series or better, 1GB+ dedicated video memory / AMD 5xxx series or better, 1GB+ dedicated video memory
These are PC only games. That’s right, no consoles to hold them back, they don’t have to worry about whether an Xbox One could handle it. Yet, they don’t require anything more than the Multiplatform games. Subnautica
So what’s the deal? Theoretically, if developers don’t have to worry about console specs, then why aren’t they going all-out and making games that no console could even dream of supporting? Low-end PCs. What, did you think people only game on Steam if they spent at least $500 on gaming hardware? Not all PC gamers have gaming-PC specs, and if devs close their games out to players who don’t have the strongest of PCs, then they’d be losing out on a pretty sizable chunk of their potential buyers. Saying “devs having to deal with consoles is holding gaming back” is like saying “racing teams having to deal with Ford is holding GT racing back.” A: racing teams don’t have to deal with Ford if they don’t want to, which is probably why many of them don’t, and B: even though Ford doesn’t make the fastest cars overall, they still manage to make cars that are awesome on their own, they don’t even need to be compared to anything else to know that they make good cars. I want to go back to that previous point though, developers having to deal with low-end PCs, because it’s integral to the next point:
“PCs are more powerful, gaming on PC provides a better experience.”
This one isn’t so much of a misconception as it is… misleading. Did you know that according to the Steam Hardware & Software Survey (July 2017) , the percentage of Steam gamers who use a GPU that's less powerful than that of a PS4Slim’s GPU is well over 50%? Things get dismal when compared to the PS4 Pro (Or Xbox One X). On top of that, the percentage of PC gamers who own a Nvidia 10 series card is about 20% (about 15% for the 1060, 1080 and 1070 owners). Now to be fair, the large majority of gamers have CPUs with considerably high clock speeds, which is the main factor in CPU gaming performance. But, the number of Steam gamers with as much RAM or more than a PS4 or Xbox One is less than 50%, which can really bottleneck what those CPUs can handle. These numbers are hardly better than they were in 2013, all things considered. Sure, a PS3/360 weeps in the face of even a $400 PC, but in this day in age, consoles have definitely caught up. Sure, we could mention the fact that even 1% of Steam accounts represents over 1 million accounts, but that doesn’t really matter compared to the 10s of millions of 8th gen consoles sold; looking at it that way, sure the number of Nvidia 10 series owners is over 20 million, but that ignores the fact that there are over 5 times more 8th gen consoles sold than that. Basically, even though PCs run on a spectrum, saying they're more powerful “on average” is actually wrong. Sure, they have the potential for being more powerful, but most of the time, people aren’t willing to pay the premium to reach those extra bits of performance. Now why is this important? What matters are the people who spent the premium cost for premium parts, right? Because of the previous point: PCs don’t have some ubiquitous quality over the consoles, developers will always have to keep low-end PCs in mind, because not even half of all PC players can afford the good stuff, and you have to look at the top quarter of Steam players before you get to PS4-Pro-level specs. If every Steam player were to get a PS4 Pro, it would be an upgrade for over 60% of them, and 70% of them would be getting an upgrade with the Xbox One X. Sure, you could still make the argument that when you pay more for PC parts, you get a better experience than you could with a console. We can argue all day about budget PCs, but a console can’t match up to a $1,000 PC build. It’s the same as paying more for car parts, in the end you get a better car. However, there is a certain problem with that…
“You pay a little more for a PC, you get much more quality.”
The idea here is that the more you pay for PC parts, the performance increases at a faster rate than the price does. Problem: that’s not how technology works. Paying twice as much doesn’t get you twice the quality the majority of the time. For example, let’s look at graphics cards, specifically the GeForce 10 series cards, starting with the GTX 1050.
1.35 GHz base clock
2 GB VRAM
This is our reference, our basis of comparison. Any percentages will be based on the 1050’s specs. Now let’s look at the GTX 1050 Ti, the 1050’s older brother.
1.29 GHz base clock
4 GB VRAM
This is pretty good. You only increase the price by about 27%, and you get an 11% increase in floating point speed and a 100% increase (double) in VRAM. Sure you get a slightly lower base clock, but the rest definitely makes up for it. In fact, according to GPU boss, the Ti managed 66 fps, or a 22% increase in frame rate for Battlefield 4, and a 54% increase in mHash/second in bitcoin mining. The cost increase is worth it, for the most part. But let’s get to the real meat of it; what happens when we double our budget? Surely we should see a massive increase performance, I bet some of you are willing to bet that twice the cost means more than twice the performance. The closest price comparison for double the cost is the GTX 1060 (3 GB), so let’s get a look at that.
1.5 GHz base clock
3 GB VRAM
Well… not substantial, I’d say. About a 50% increase in floating point speed, an 11% increase in base clock speed, and a 1GB decrease in VRAM. For [almost] doubling the price, you don’t get much. Well surely raw specs don’t tell the full story, right? Well, let’s look at some real wold comparisons. Once again, according to GPU Boss, there’s a 138% increase in hashes/second for bitcoin mining, and at 99 fps, an 83% frame rate increase in Battlefield 4. Well, then, raw specs does not tell the whole story! Here’s another one, the 1060’s big brother… or, well, slightly-more-developed twin.
1.5 GHz base clock
6 GB VRAM
Seems reasonable, another $50 for a decent jump in power and double the memory! But, as we’ve learned, we shouldn’t look at the specs for the full story. I did do a GPU Boss comparison, but for the BF4 frame rate, I had to look at Tom’s Hardware (sorry miners, GPU boss didn’t cover the mHash/sec spec either). What’s the verdict? Well, pretty good, I’d say. With 97 FPS, a 79% increase over the 1050— wait. 97? That seems too low… I mean, the 3GB version got 99. Well, let’s see what Tech Power Up has to say... 94.3 fps. 74% increase. Huh. Alright alright, maybe that was just a dud. We can gloss over that I guess. Ok, one more, but let’s go for the big fish: the GTX 1080.
1.6 GHz base clock
8 GB VRAM
That jump in floating point speed definitely has to be something, and 4 times the VRAM? Sure it’s 5 times the price, but as we saw, raw power doesn’t always tell the full story. GPU Boss returns to give us the run down, how do these cards compare in the real world? Well… a 222% (over three-fold) increase in mHash speed, and a 218% increase in FPS for Battlefield 4. That’s right, for 5 times the cost, you get 3 times the performance. Truly, the raw specs don’t tell the full story. You increase the cost by 27%, you increase frame rate in our example game by 22%. You increase the cost by 83%, you increase the frame rate by 83%. Sounds good, but if you increase the cost by 129%, and you get a 79% (-50% cost/power increase) increase in frame rate. You increase it by 358%, and you increase the frame rate by 218% (-140% cost/power increase). That’s not paying “more for much more power,” that’s a steep drop-off after the third cheapest option. In fact, did you know that you have to get to the 1060 (6GB) before you could compare the GTX line to a PS4 Pro? Not to mention that at $250, the price of a 1060 (6GB) you could get an entire PS4 Slim bundle, or that you have to get to the 1070 before you beat the Xbox One X. On another note, let’s look at a PS4 Slim…
800 MHz base clock
8 GB VRAM
…Versus a PS4 Pro.
911 MHz base clock
8 GB VRAM
128% increase in floating point speed, 13% increase in clock speed, for a 25% difference in cost. Unfortunately there is no Battlefield 4 comparison to make, but in BF1, the frame rate is doubled (30 fps to 60) and the textures are taken to 11. For what that looks like, I’ll leave it up to this bloke. Not to even mention that you can even get the texture buffs in 4K. Just like how you get a decent increase in performance based on price for the lower-cost GPUs, the same applies here. It’s even worse when you look at the CPU for a gaming PC. The more money you spend, again, the less of a benefit you get per dollar. Hardware Unboxed covers this in a video comparing different levels of Intel CPUs. One thing to note is that the highest i7 option (6700K) in this video was almost always within 10 FPS (though for a few games, 15 FPS) of a certain CPU in that list for just about all of the games. …That CPU was the lowest i3 (6100) option. The lowest i3 was $117 and the highest i7 was $339, a 189% price difference for what was, on average, a 30% or less difference in frame rate. Even the lowest Pentium option (G4400, $63) was often able to keep up with the i7. The CPU and GPU are usually the most expensive and power-consuming parts of a build, which is why I focused on them (other than the fact that they’re the two most important parts of a gaming PC, outside of RAM). With both, this “pay more to get much more performance” idea is pretty much the inverse of the truth.
“The console giants are bad for game developers, Steam doesn't treat developers as bad as Microsoft or especially Sony.”
Now one thing you might’ve heard is that the PS3 was incredibly difficult for developers to make games for, which for some, fueled the idea that console hardware is difficult too develop on compared to PC… but this ignores a very basic idea that we’ve already touched on: if the devs don’t want to make the game compatible with a system, they don’t have to. In fact, this is why Left 4 Dead and other Valve games aren’t on PS3, because they didn’t want to work with it’s hardware, calling it “too complex.” This didn’t stop the game from selling well over 10 million units worldwide. If anything, this was a problem for the PS3, not the dev team. This also ignores that games like LittleBigPlanet, Grand Theft Auto IV, and Metal Gear Solid 4 all came out in the same year as Left 4 Dead (2008) on PS3. Apparently, plenty of other dev teams didn’t have much of a problem with the PS3’s hardware, or at the very least, they got used to it soon enough. On top of that, when developing the 8th gen consoles, both Sony and Microsoft sought to use CPUs that were easier for developers, which included making decisions that considered apps for the consoles’ usage for more than gaming. On top of that, using their single-chip proprietary CPUs is cheaper and more energy efficient than buying pre-made CPUs and boards, which is far better of a reason for using them than some conspiracy about Sony and MS trying to make devs' lives harder. Now, console exclusives are apparently a point of contention: it’s often said that exclusive can cause developers to go bankrupt. However, exclusivity doesn’t have to be a bad thing for the developer. For example, when Media Molecule had to pitch their game to a publisher (Sony, coincidentally), they didn’t end up being tied into something detrimental to them. Their initial funding lasted for 6 months. From then, Sony offered additional funding, in exchange for Console Exclusivity. This may sound concerning to some, but the game ended up going on to sell almost 6 million units worldwide and launched Media Molecule into the gaming limelight. Sony later bought the development studio, but 1: this was in 2010, two years after LittleBigPlanet’s release, and 2: Media Molecule seem pretty happy about it to this day. If anything, signing up with Sony was one of the best things they could’ve done, in their opinion. Does this sound like a company that has it out for developers? There are plenty of examples that people will use to put Valve in a good light, but even Sony is comparatively good to developers.
“There are more PC gamers.”
The total number of active PC gamers on Steam has surpassed 120 million, which is impressive, especially considering that this number is double that of 2013’s figure (65 million). But the number of monthly active users on Xbox Live and PSN? About 120 million (1, 2) total. EDIT: You could argue that this isn't an apples-to-apples comparison, sure, so if you want to, say, compare the monthly number of Steam users to console? Steam has about half of what consoles do, at 67 million. Now, back to the 65 million total user figure for Steam, the best I could find for reference for PlayStation's number was an article giving the number of registered PSN accounts in 2013, 150 million. In a similar 4-year period (2009 - 2013), the number of registered PSN accounts didn’t double, it sextupled, or increased by 6 fold. Considering how the PS4 is already at 2/3 of the number of sales the PS3 had, even though it’s currently 3 years younger than its predecessor, I’m sure this trend is at least generally consistent. For example, let’s look at DOOM 2016, an awesome faced-paced shooting title with graphics galore… Of course, on a single platform, it sold best on PC/Steam. 2.36 million Steam sales, 2.05 million PS4 sales, 1.01 million Xbox One sales. But keep in mind… when you add the consoles sales together, you get over 3 million sales on the 8th gen systems. Meaning: this game was best sold on console. In fact, the Steam sales have only recently surpassed the PS4 sales. By the way VG charts only shows sales for physical copies of the games, so the number of PS4 and Xbox sales, when digital sales are included, are even higher than 3 million. This isn’t uncommon, by the way. Even with the games were the PC sales are higher than either of the consoles, there generally are more console sales total. But, to be fair, this isn’t anything new. The number of PC gamers hasn’t dominated the market, the percentages have always been about this much. PC can end up being the largest single platform for games, but consoles usually sell more copies total. EDIT: There were other examples but... Reddit has a 40,000-character limit.
This isn’t to say that there’s anything wrong with PC gaming, and this isn’t to exalt consoles. I’m not here to be the hipster defending the little guy, nor to be the one to try to put down someone/thing out of spite. This is about showing that PCs and consoles are overall pretty similar because there isn’t much dividing them, and that there isn’t anything wrong with being a console gamer. There isn’t some chasm separating consoles and PCs, at the end of the day they’re both computers that are (generally) designed for gaming. This about unity as gamers, to try to show that there shouldn’t be a massive divide just because of the computer system you game on. I want gamers to be in an environment where specs don't separate us; whether you got a $250 PS4 Slim or just built a $2,500 gaming PC, we’re here to game and should be able to have healthy interactions regardless of your platform. I’m well aware that this isn’t going to fix… much, but this needs to be said: there isn’t a huge divide between the PC and consoles, they’re far more similar than people think. There are upsides and downsides that one has that the other doesn’t on both sides. There’s so much more I could touch on, like how you could use SSDs or 3.5 inch hard drives with both, or that even though PC part prices go down over time, so do consoles, but I just wanted to touch on the main points people try to use to needlessly separate the two kinds of systems (looking at you PCMR) and correct them, to get the point across. I thank anyone who takes the time to read all of this, and especially anyone who doesn’t take what I say out of context. I also want to note that, again, thisisn’t “anti-PC gamer.” If it were up to me, everyone would be a hybrid gamer. Cheers.
History of Bitcoin: An analysis of where it's been, where it is, and where it's going.
What is Bitcoin? A brief history. Okay. So we know that cryptocurrencies are non-state issued currencies that seek to maintain value through scarcity (usually), security (hopefully), and easy transferability regardless of national borders (indubitably). Bitcoin does all of these things...but so do other cryptocurrencies. Why is Bitcoin special? Let's start with a bit of history. Beginning in the 1980s, a group of developers and activists formed a list serve and named themselves the Cypherpunks. This group was obsessed with societal privacy and anonymity. They believed that only complete privacy and security could guarantee a free and open society and that the government could not be relied upon to ensure it. Members of the group sought different modes to achieve this goal. Among others: Bram Cohen: BitTorrent -> Peer to Peer information sharing Nick Szabo: Bit Gold -> predecessor of Bitcoin, originator of smart contracts Julian Assange: WikiLeaks -> classified and secret document archive and disclosure Another person (?) on this list was "Satoshi Nakamoto" who, in his seminal whitepaper in 2009, outlined Bitcoin. Note that "Satoshi Nakamoto" is in quotation marks because his or her or their true identity is thus far unconfirmed. Regardless, Nakamoto's whitepaper conceptualized Bitcoin and in the process created the idea of the blockchain and solved the double spending problem. The double spending problem was something that had plagued digital currencies since they were first proposed. The problem, characterized by a digital currency's lack of physical permanence and resultant ability to be copied, forged, or otherwise falsified, prevent digital currency from progressing past the point of "internet money". Nakamoto managed to resolve double-spending this via implementation of the blockchain. Let me explain how: Traditional transactions are pretty straightforward. Party A gives Party B some number of dollars. Party B accepts this money without concern because, the possibility of counterfeiting not withstanding, he is pretty sure that the dollars that he is receiving are legitimate. Since dollars are physical, they can only be spent in one place at a time. Image 1 This works great when both parties are confident that the money being transacted can only be spent once as is the case with physical money. Digital money is intangible by its nature and therefore, double spending is a concern. Say that Party A has BitCash A. He wants to purchase goods from Party B and Party C. The goods to be purchased EACH cost BitCash A. If Party A is honest, he will only purchase one of the goods since he can't afford both. Party A is a bad dude, though, and decides to try to pull a fast one on Party B and Party C. Since BitCash is just internet money, it's easily reproducible and requires only a quick copy and paste to dupe the system. Party A sends BitCash A to Party B as well as to Party C. Someone is loses money (likely the whole network since this is a fatal flaw in the currency and indicates underlying unreliability). Image 2 For those of you wondering how credit cards and other digital systems alleviate this issue, they do it through a centralized ledger. In other words, a third party is needed to mediate transactions and to ensure that money only exists in one place at a time. While this works in the context of traditional banking, this system goes against the ethos of Bitcoin, which is predicated on decentralization, privacy, and anonymity. Additionally, the idea of trusting a third party to verify all transactions introduced a single point of potential failure, something that cryptocurrencies sought to avoid. The above issue remained unsolved until Nakamoto's invention of Bitcoin. Nakamoto introduced the idea of the blockchain, a constantly updated decentralized universal ledger that existed everywhere and nowhere, that was maintained by multiple parties on the network, and that was permanently reliable. Each transaction had to be verified by multiple parties (known as miners) as being legitimate before becoming irreversibly codified in the universal ledger known as the blockchain. Should a party seek to double spend, one of the transactions put forth would be rejected: either the one that was placed second, or the one that received fewer confirmations from the network. By relying on a second party system, the double spending problem was solved. Image 3 In the above case, Party A attempts to double spend his Bitcoin A to Party B and Party C. Both proposed transactions are sent to miners to verify. Only one of the two is accepted by the network and added to the blockchain. In this case, the Bitcoin A sent to Party B is confirmed as legitimate while the proposed transaction to Party C is rejected. Bitcoin A is NOT double spent. Party B ends up with Bitcoin A and Party C ends up with nothing. With the double spending problem and others worked out, Bitcoin became a viable mode for transaction. The first official Bitcoin transaction occurred on January 12, 2009 between Nakamoto and Hal Finney. Bitcoin ceased to be theoretical and entered the real world. Exchanges began carrying Bitcoin and facilitating its transfer between people. Over the next several years Bitcoin's value grew from fractions of a cent to over $11000 (as of 12/3/17). Image 4 Image 5 Image 6 In addition to its own growth, Bitcoin is also responsible for the rise of cryptocurrencies in general as the majority of cryptocurrencies today have used Bitcoin as their foundational model. Image 7 Controversies Bitcoin's ascent has been marred by several controversies both internal and external.
Advantages of Bitcoin over other cryptocurrencies I've broken down the major advantages of Bitcoin as follows: Image 8 Ubiquity/cachet: Ultimately, much of the advantage that Bitcoin possesses boils down to its place as the cryptocurrency leader. Odds are that when people say "cryptocurrency", they really mean Bitcoin. There's value to being at the top of the market and its position affords it a host of benefits. It has the largest user base of any of the cryptocurrencies which fuels its dollar value. Because it was first to market, and because of its users, it also has a robust development community working both internally and externally. One of the perks of investing in Bitcoin is the exposure that one gets to Bitcoin forks. Bitcoin Cash, a fork that occurred on August 1, 2017, is currently trading over $1600/coin. Every user of Bitcoin received Bitcoin Cash...just for holding Bitcoin. There have been other forks since, and there will continue to be forks in the future, all adding potential value to a Bitcoin investment. Furthermore, Bitcoin is relatively established and more robust to insults than other cryptocurrencies, making it a safer store of value. In order to be unseated as the clear crypto king, a new product would need to show up that is not only qualitatively better than Bitcoin, but better enough that it makes ditching the Bitcoin environment worth it. Technology: Bitcoin was the first cryptocurrency to reliably show that digital money could be used for transactions and as stores of value. As mentioned above, most cryptocurrencies today use the Bitcoin white paper as their model. We know that the foundations of Bitcoin are comparatively sound and that it is stable. This stability has allowed a healthy ecosystem of development to take root. Interested in buying a hardware wallet for your Bitcoin? They exist. More interested in creating a free online wallet? Those exist. Interested in mining? It's easy, albeit expensive to get started. The technology being proven has allowed the adjacent technologies to thrive. Price: While most would consider an $11000 entry tag to be a massive barrier to entry and potentially stifling, it's actually a major boon to Bitcoin. The price tag attracts investors and users, which encourages development, which makes the product more functional, which attracts users, which increases price, etc. Bitcoin is worth something and makes it difficult to dismiss. Furthermore, its high price tempers volatility and manipulation. Unlike other currencies that are worth pennies or dollars, Bitcoin is able to weather large capital inflows and outflows and is less prone to overt market manipulation precisely because its market cap is so high. Risks Image 9 Internal Technology: While Bitcoin functions completely adequately today, it will need to scale tremendously to reach its potential. While the technology behind Bitcoin is impressive, it pales in comparison to established modes of exchange. VISA averages 2000 transactions per second and has a peak capacity of 56000 transactions per second. Bitcoin presently averages 7 transactions per second. Certain solutions are being explored, like the Lightning Network, but there are no guarantees that there will be successful implementation. As can be said with any technology, Bitcoin is fundamentally dependent on its underlying code. Thus far it has had only one major exposed flaw (which resulted in the accidental creation of 184 billion Bitcoin). Development: Mentioned above was the advantage conveyed by forks. They can provide additional value. This is a good thing. They can also create competitors. This is a bad thing. While it is unlikely that a Bitcoin offshoot will unseat Bitcoin outright, there is the risk of market cannibalization and confusion with each new iteration. Which is the real Bitcoin? External Legislative: Because Bitcoin can so ably provide for functions that were once strictly in the government domain, it is likely to become the target of governmental limits at some point. We've already seen China try to crack down on Bitcoin and it's reasonable to assume that other countries will follow suit. Despite this risk, however, Bitcoin has proven to be incredibly resilient and is still traded by the Chinese. Since the Chinese ban, Bitcoin's price has nearly doubled from $6000 to over $11000 today (12/3/17). Competitive: I mentioned earlier that one of Bitcoin's main advantages was that it was first to market. While this is a tremendous benefit today, it does not guarantee ongoing success. History is littered with famous "firsts to market" that were overtaken by savvy competitors. The World was the first ISP to market. Magnavox released the first video game console. You'd be hard pressed to find someone that equates ISPs with The World or video game consoles with Magnavox. Bitcoin is not on the precipice of being overtaken by another cryptocurrency. However, the risk of an existing competitor, or more likely a new competitor that doesn't yet exist, supplanting Bitcoin is always a possibility and investors should mitigate risk appropriately. Investment opportunities: Bitcoin provides the surest cryptocurrency investment for the reasons mentioned above. Its status as the cryptocurrency leader makes it the most stable investment in the arena. Furthermore, its cachet makes it an attractive investment to lay investors looking for exposure to this particular market which subsequently makes it an even more attractive investment. While many may balk at investing in something whose single unit is priced at more than $11000 and that has experienced explosive growth, I believe that Bitcoin still has opportunity for upward movement. The number I keep coming back to is $7.8T (trillion). That's the market cap for gold. I use this as a bench mark because I see Bitcoin supplanting gold as a storage of wealth from fiat currencies. As I've discussed, the blockchain provides permanence in a way that is akin to gold's physical permanence. The present market cap for ALL cryptocurrencies is $340B (billion). Bitcoin presently accounts for 55% of the cryptocurrency market cap with $188B. Assuming that over the next year growth slows over the next year and that Bitcoin loses some of its dominance, I still think that it's reasonable to project an approximate Bitcoin value of $50000. This assumes that the crypto market continues to grow, albeit at a slower relative pace and still does not approach gold's market cap. Image 10 This is bullish and I assume that no major stumbling blocks present themselves. I am drawn to the fact that market penetration is still relatively low and that institutional money has barely begun to enter the market. These two factors mean that organic growth can continue for the foreseeable future. Conclusion Bitcoin represents the present pinnacle of the cryptocurrency market. As an investment, it provides the best combination of stability and potential growth precisely because it is the market leader. Through its innovation of the blockchain, it has spurred the cryptocurrency explosion that we have witnessed over the last several years.
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