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CRYPTOCURRENCY TERMS AND MEANINGS

Apr 28,2018 at 04:57 pm



New to the Crypto-World or seeking knowledge, Scrolling bitcointalk, arkonix blog or other cryptocurrency related forums on the internet and having no clue about what's going on due to the use of language and terms? Well, here are some of the Cryptocurrencies term you may come across.

General Cryptocurrency Terms

Blockchain 
The classification of technology that Ethereum falls into. Blockchains are distributed ledgers, secured by cryptography. They are essentially public databases that everyone can access and read, but the data can only be updated by the data owners. Instead of the data residing on a single centralized server, the data is copied across thousands and thousands of computers worldwide. 

Node 
A computer that possesses a copy of the blockchain and is working to maintain it.

Mining
The process of trying to ‘solve’ the next block. It requires obscene amounts of computer processing power to do effectively, but is rewarded with ether.

Mining rig
A computer especially designed for processing proof-of-work blockchains, like Ethereum. They often consist of multiple high-end graphic processors (GPUs) to maximize their processing power.

Fork 
A situation where a blockchain splits into two separate chains. Forks generally happen in the crypto-world when new ‘governance rules’ are built into the blockchain’s code. 

PoW
Proof-of-work. The current consensus algorithm used by Ethereum.

PoS
Proof-of-stake (not piece of shit). The proposed future consensus algorithm to be used by Ethereum. Instead of mining in its current form, people that own ETH will be able to ‘lock up’ their ether for a short amount of time in order to ‘vote’ and generate network consensus. The plan is that these stakeholders will be rewarded with ETH by doing so.

Sharding
A scaling solution for blockchains. Typically, every node in a blockchain network houses a complete copy of the blockchain. Sharding is a method that allows nodes to have partial copies of the complete blockchain in order to increase overall network performance and consensus speeds.

Software wallet
Storage for crypto-currency that exists purely as software files on a computer. Software wallets can be generated for free from a variety of sources. MyEtherWallet (MEW) is one of the popular. (more on MEW below)

Hardware wallet
A device that can securely store crypto-currency. Hardware wallets are often regarded as the most secure way to hold crypto-currency.

Ledger Nano S / Trezor
Two of the most popular hardware wallet models.

Ethereum Specific Terms

Smart contract
Code that is deployed onto the Ethereum blockchain, often directly interacting with how money flows. Not my quote, but: “A normal transaction allows you to send money from A to B. Smart contracts allow you to send money from A to B, on the condition that C happens.”

Solidity
One of the most popular languages that smart contracts can be written in. Has some similarities to Javascript.

Dapp
Decentralized Application. This refers to an application that uses an Ethereum smart contract as it’s back-end code. 

The Flippening
A potential future event wherein Ethereum’s market cap surpasses Bitcoin’s market cap, making Ethereum the most ‘valuable’ crypto-currency. 

Gas
A measurement of how much processing is required by the ethereum network to process a transaction. Simple transactions, like sending ether to another address, typically do not require much gas. More complex transactions, like deploying a smart contract, require more gas.

Gas price
The amount of ether to be spent for each gas unit on a transaction. The initiator of a transaction chooses and pays the gas price of the transaction. Transactions with higher gas prices are prioritized by the network.

MEW
MyEtherWallet. A free site that can generate ethereum software wallets for you.

EEA
Enterprise Ethereum Alliance. A coalition of startups and corporations trying to figure out the best way to use this dang thing.

Vitalik Buterin
One of the primary co-founders of Ethereum (and certainly the most well-known). 

DAO
Decentralized Autonomous Organization. An investor-directed venture capital fund built on the Ethereum network that was hacked in June 2016. The hack stole about a third of the DAO’s funds and led to Ethereum being hard-forked the following month. The DAO is often cited as one of Ethereum’s biggest stumbles thus far.

Trading Related Terms

Exchange 
Websites where you can buy and sell crypto-currencies. Some popular exchanges in North America are: Coinbase

FIAT
Government-issued currency, such as the US dollar.

Whale
Someone that owns absurd amounts of crypto-currency.

Limit order / limit buy / limit sell 
Orders placed by traders to buy or sell a crypto-currency when the price meets a certain amount. They can be thought of as ‘for-sale’ signs. These orders are what are bought and sold against when traders place market orders.

Sell wall / Buy wall
Using a depth chart, traders can see the current limit buy and sell points. The graphical representation on the depth chart looks like walls. A simple purchase or sale on an exchange at the current price. Market buys purchase the cheapest ETH available on the order book, and market sells fill the most expensive buy order on the books.

Margin trading
The act of ‘magnifying’ the intensity of your trades by risking your existing coins. (NOTE: Very risky, only for experienced traders and only on certain exchanges even then)

Going long
A margin trade that profits if the price increases.

Going short
A margin trade that profits if the price decreases.

Bullish
An expectation that price is going to increase.

Bearish
An expectation that price is going to decrease.

ATH
All-Time-High. We’ve gotten a lot of these the past couple months.

Altcoin
Generally any crypto-currency other than Bitcoin or Ethereum. (Though some Bitcoin folks would probably still say Ethereum is an altcoin)

Tokens
Refers to the ‘currency’ of projects built on the ethereum network that have raised money via issuing their own tokens. ?

ICO
Initial Coin Offering, somewhat similar to an IPO in the non-crypto world. Startups issue their own token in exchange for ether. This is essentially crowdfunding on the ethereum platform.

Shilling / pumping
Someone essentially advertising another crypto-currency. If a coin is promised to cure cancer or be the second coming of Jesus, it’s being shilled.

Stable coin
A crypto-currency with extremely low volatility that can be used to trade against the overall market.

Arbitrage
Taking advantage of a difference in price of the same commodity on two different exchanges. Often mentioned when it comes to comparing ETH prices on Korean exchanges against US exchanges.

FOMO
Fear Of Missing Out. The overwhelming sensation that you need to get on the train when the price of something starts to skyrocket.

FUD
Fear, Uncertainty, and Doubt. Baseless negativity spread intentionally by someone that wants the price of something to drop.

FUDster
Someone that is spreading FUD.

Pump And Dump
The recurring cycle of an altcoin getting a ton of attention, leading to a fast price increase, and then of course followed by a huge crash.

Bagholder
Someone still holding an altcoin after a pump and dump crash. Can also just refer to someone holding a coin that is sinking in value with few future prospects.

Market Cap
The total value held in a crypto-currency. It is calculated by multiplying the total supply of coins by the current price of an individual unit. This site shows a great run-down of each coin’s market cap.

ROI
Return on Investment. The percentage of how much money has been made compared to an initial investment. (i.e., 100% ROI means someone doubled their money).

TA
Trend Analysis or Technical Analysis. Refers to the process of examining current charts in order to predict which way the market will move next.

MACD
Moving Average Convergence Divergence. A trend indicator that shows the relationship between two moving averages of prices. 

Bollinger Band
A margin around the price of a crypto that helps indicate when a coin is overbought or oversold. 

Memes

Hodl
Long ago, someone on a bitcoin forum got drunk and made a post with this typo in the place of ‘hold’. A meme was born.

Lambo
What we’re all going to buy when we’re rich. Obligatory

This is gentlemen
“This is it, gentlemen”. Used to point out positive things that are currently happening. 

Mooning
In the crypto-world, this does not mean exposing your buttocks. It is referring to a price going up astronomical levels.

ARKONIX MINING - A WORLD FOR THINKERS

Apr 23,2018 at 04:46 pm



In this world, we have a special group of people known as the "THINKERS". The elites do not like THINKERS because they pose a threat to whatever plan they have been working on and the atrocities they plan to unleash on humanity. The only THINKERS they like are the ones they can control to do their bidding. If a THINKER steps out of line, he/she is eliminated immediately.

Have you noticed how programmed our lives are from birth? From the day we were born, we are either being gradually groomed to become slaves to debt slavery system or we have no access at all. The Education system we all get into from the start is a well-designed system/factory to keep us from being THINKERS.
Why ? you may ask. Because THINKERS if given the chance will destroy all the plans of the elites and there is nothing they can do about it.

Everyone is put through an assembly line to become slaves to the debt slavery system. Those of us who show potential to be more than average are tagged and separated from the rest and further brain washed, given scholarships of untold amounts of money to end up serving the elite slave merchants working for the overlords and become more enslaved into the slave system.

For people who work, you spend nothing less than 50 hours a week working and struggling to put food on the table and IT IS AND WILL NEVER BE ENOUGH. This constant struggle prevents us from becoming THINKERS. Some are CONTENT with this system we're all trapped in because they have given in completely to being brain washed and they are OK with constantly being deceived.

The Cryptocurrency mining revolution and most especially ARKONIX is being led by THINKERS and is gradually unleashing other THINKERS back into the world. THINKERS not controlled by the elites are creating more and more THINKERS every day.

Imagine a world where you wake up every day and you do not have to worry about what to eat or where to sleep. Most people argue that a world with no worries will create lazy people. We can CATEGORICALLY and EMPHATICALLY say those people are DEAD WRONG. When you wake up in a world with little to worry about, you suddenly become MORE CREATIVE and you begin to unleash your TRUE NATURE as INTELLIGENT BEINGS.

ARKONIX MINING is on a mission to create EMPOWERED THINKERS that will change the WORLD. 

Join us NOW

NOW LET'S TALK ZCASH

Apr 23,2018 at 05:34 am


If you have been following our Articles on Crypto-Currencies, then you must have known quite much about Bitcoin and how it works. 
It is no news that Bitcoin transactions are published on a public blockchain revealing the sender, recipient and amount of transaction.

This decentralized, open-source cryptocurrency with no privacy had raised concern that fanned the innovation of other Coins.

So let's talk ZCASH 

Zcash is a decentralized and open-source cryptocurrency that offers privacy and selective transparency of transactions. 

Zcash payments are published on a public blockchain, but unlike Bitcoin, the sender, recipient, and amount of a transaction remain anonymous.

Zcash is based on peer-reviewed cryptographic research, and built by a security-specialized engineering team on an open source platform based on Bitcoin Core's battle-tested codebase. It's improvement over Bitcoin is the addition of privacy. 

Zcash uses advanced cryptographic techniques, namely zero-knowledge proofs, to guarantee the validity of transactions without revealing additional information about them.

The interesting part is that Zcash also enables users to send public payments which work similarly to Bitcoin. With the support for both shielded and transparent addresses, users can choose to send Zcash privately or publicly. Zcash payments sent from a shielded address to a transparent address reveal the received balance, while payments from a transparent address to a shielded address protect the receiving value.

Research and reports has shown that it's more profitable and futuristic to engage in ZCASH mining especially if you're reserved.

Click ZCASH Mining to start now. 

WHAT IS DASH

Apr 21,2018 at 06:31 am


The evolution of Bitcoin as the mother-cryptocurrency has stared up other tactical approach to building new modes of wealth generating platform that is faster, anonymous with cheaper charges to make online transactions easier and suitable for communities around the world. 

One of those great inventions is DASH. Dash was created three years ago on 18 January 2014 by its developer Evan Duffield?.

Dash was originally released as XCoin (XCO). In February 2014, the name was changed to “Darkcoin”.  And on 25 March 2015, Darkcoin was rebranded as “Dash”.

Evan Duffield came across Bitcoin in 2010 and was impressed by its technology. But he soon realized that Bitcoin was not private and fast enough.

One of his numerous ideas is how to make Bitcoin anonymous, knowing Bitcoin developers wouldn't allow him, figured that Bitcoin core code would need to be changed for this.

So to change this primary drawback of Bitcoin, Evan decided to use Bitcoin’s core code and build his own cryptocurrency- this is what we know of today as Dash.

Dash is unlike other cryptocurrency projects like Ethereum or Litecoin which are more of a development platform.

Dash advocates itself as peer-to-peer decentralized electronic cash. It intends to be as liquid as real cash which we use in our respective countries like USD/GBP/EUR/INR or CNY.

Dash is open-source and has its own blockchain, wallet infrastructure, and community. But unlike BTC, its transaction fee is lite

Moreover, considering the development community it looks like Dash will only remain as digital money for the internet, which is a good thing. It's the sixth most powerful cryptocurrency in the world with an attractive/fantastic market cap price. 

Mining Dash is more profitable than just trading it considering its full potentials and opportunities that revolves within its community.  Join the Team of Miners today to start Mining the unbeatable  anonymous coin "Dash". To learn more click 'MINING DASH'. 

INTRODUCTION TO ARKONIX MINING

Apr 20,2018 at 08:13 am



Have you been hearing about Arkonix Mining, and you don't know how it works. Here is the proper introduction to a life of cryto-currency mining that comes with unbeatable mining opportunities you can't get anywhere else.   

What is Arkonix?
Arkonix is a company that offers mining of the 7 largest and most successful cryptocurrencies on the market, Bitcoin, Ethereum, Ethereum Classic, Litecoin, Monero, Z-Cash and Dash.

What is it about?
Mining is easily explained as the process of the creation of cryptocurrencies, this is what we do by investing a certain amount of our own choice from $50 up to $4800, there is no limit to how many mining pools one can buy.

How much can you earn?
There are two ways to earn money with Arkonix, the first is the investment part.
You can invest between $50 up to $4800, depending on the investment you will receive a certain amount of hash power, the more hash power you have the more return you will get. This is residual and will be paid daily to your account in Arkonix

The Marketing 
You can work with the company and promote Arkonix, which will give you a bonus for every person who invests and buys a mining package. There is no obligation to refer people to join the business in order for you to earn, bu only investing in a mining pool you will make daily residual mining income but if you choose to market the business as well you will earn extra commission paid out on 11 levels of partners below you (see PDF for more information on marketing plan)


How long does it take before you start earning?
After the first deposit for mining, the first mining result will be after 24 hours.

How often can i withdraw my commission?
"You can withdraw money every 7 days and there is no maximum limit for how much you can withdraw.

If there is any question or something that needs clarification, please take the liberty of joining us on Telegram or Email us to let us know and we will help out.

Telegram:   t.me/arkonixmining
Email:         arkonixpro@gmail.com
            support@arkonix.eu

Free registration...

CLICK LINK TO SIGNUP NOW 
https://arkonix.eu/register?

BONUS FEATURES

5% Cash-Back on Signing Up through our Affiliates.
We have introduce this option in order to further enhance our support towards our affiliates & marketers. 
This option should greatly improve our online marketer’s conversion rates. 
Before Sign Up, any new user who prefer to register via one of our numerous affiliates benefits from the 5% Cash-Back

NOTE: Cash-Back is valid only for new users having registered via an
Arkonix Affiliates and who have purchased a Mining Pool within 7 days of 
registration.    

Arkonix Mining has also Introduced another feature where you can convert Your Accumulated mining into Cash Account.

Note:-
1.Your "Accumulated Mining" will be converted into "Cash Account" on bases of Real-Time price of particular cryptocurrency.
2.Your "Accumulated Mining" of particular cryptocurrency would be equivalent or greater than $25 during conversion in "Cash Account"
3.We inform users to keep in mind that Conversion fees will apply according to the the cryptocurrency current Transaction Rates.

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