Thursday, June 30, 2016

Bitcoin Price Chart w/Technical Indicators - June 2016

With about 3 weeks left before Bitcoin block rewards are cut in half, the price of Bitcoin is slowly getting squeezed into a wedge, possibly forcing something big (up or down) in the near future.

If you've followed crypto-currencies for any length of time, you already know the Bitcoin community has been livid over the decreasing block rewards for months now, even before last Christmas.  The community as a whole has been scrambling to mine and hoard as many Bitcoin as possible leading up to the halving a few weeks from now.

This hoarding has helped drive the price of Bitcoin upwards from ~$350-450 levels, more than doubling the price until the recent pullback to the $650 range.

What happens next is anybody's guess.  I personally thought the hype alone would keep pushing the price higher, longer but it seems the calm before the storm is already here.

The question on my mind now is this: Which side will have the most influence on the BTC price in the coming weeks... The hype surrounding the pending reward halving and scramble to gather more Bitcoin?  Or those on the sidelines who have been collecting Bitcoin for months now and will be looking to cash in (and possibly hammer the price) in the near future?  I guess we'll find out soon enough.

In the meantime, here's a current Bitcoin price chart for the past 30 days, along with my own markups to show approximate support and resistance levels and a few useful technical indicators.

Chart courtesy of http://bitcoincharts.com with my own personal additions

https://creativecommons.org/licenses/by-sa/3.0/

One thing to keep in mind when looking at price charts is your investment time frame.   The chart above doesn't do you much good if you're a day trader.  On the same lines, the 6-month chart looks quite a bit different (with it's own set of buy/sell indicators), as does the 10-day, 5-day, hourly charts, etc.

Bookmark this site and check back often as more charts, indicators, and analysis will be posted shortly.


References:

MinerGate.com Review – Mine the Most Profitable Altcoins with this CPU and GPU Mining Pool

Since my computing power and money resources are limited, I’ve been searching for a profitable way to cpu mine altcoins and haven’t had much luck until now.

MinerGate.com is a cross-platform, profit switching mining pool that allows you to CPU mine or GPU mine the most profitable altcoins easier than ever no matter which computer operating system you are using.  The MinerGate mining software is available for Windows PCs, MacOS, Linux, and Unix, and they even have a CPU mining app for Android smart phones in the Google Play store.  With MinerGate, you don’t have to worry about which mining software to use or getting the settings right for each separate coin, they do this all for you… automatically.

The multi-pool allows you to mine popular altcoins like Ethereum, Monero, Bytecoin, Dashcoin, etc.  You can even mine Bitcoin or Litecoin if you like, although chances are they won’t be nearly as profitable to mine as the other crypto-currencies.  So what, you say?  There’s a ton of profit switching mining pools out there, you say?  Yes, I absolutely agree and have tried them myself and have to conclude that MinerGate.com shines beautifully where other CPU mining multi-pools have failed.

In a nutshell, MinerGate is easier to use and more profitable than all of the other CPU mining pools I’ve tried.  It only takes a couple minutes from the time you first visit their site to the time you’re mining away, and starting to make money!  It really is that quick and easy.
Usually, when you want to CPU or GPU mine any crypto-coin at most any pool, they only offer minimal help when it comes to installing and using mining software to work with their pool (and for the type of crypto-coin you want to mine).  MinerGate flips this concept on its head by offering their own mining software for free that is already configured and set to start mining altcoins as soon as its installed.

Smart Mining
The mining software has a nice feature called “Smart Mining” where it will automatically mine the most profitable cryptocurrency at any given time (from the list of coins that they support).  When mining in this mode, the software will automatically switch mining to whichever altcoin can be converted into the most Bitcoins at the current exchange rate.

Single Coin Mining
This is great for those of us who want an easy way to CPU or GPU mine our favorite coin and aren’t so concerned with always switching to whatever coin can be sold for the most at that minute in time.
A lot of people interested in Monero (XMR) or Etherium (ETH) choose this option and mine only that coin.  Single coin mining is especially useful for anyone new to Cryptocurrencies who wants to give it a shot on a cool new coin without much investment or risk.

Benchmark Your Mining Rig
Whether you’re CPU or GPU mining, there are several little interesting features including a Benchmark area where you can test your computer’s hardware to see how it compares with others.  I knew my laptop was old and decrepit but my benchmark results kinda feel like rubbing salt in a wound.   https://minergate.com/b/1bf71646bd70eaf30baff0b852092be435747ff8

Achievements
Just to keep things entertaining and provide little rewards for using the mining software, there is an Achievements area where badges are earned for completing challenges.  The software claims that you get a “MinerGate prize” after unlocking all achievements but I haven’t got this far yet so I don’t know what the prize is or if it is any good.

Integrated Wallets
Each altcoin that you mine (or fractions of coins) will show up in the Wallets area.  This section definitely needs work (at least the Linux version).  If you show too many coins here at once, they just run off the bottom of the screen and you have no idea what those coins are or if you have mined any.  You can select which coins to show in the “View” menu but it is a cumbersome process, especially if you want to view balances for more than 5 or 6 coins at a time.
The work-around… use the mining software for mining, and the website for analyzing account balances, wallets, and other stats.

MinerGate also offers a sort of auto-exchange called Changelly where you can easily convert one crypto-currency into another.  There is a 0.5% fee for doing this and I haven’t cross-checked their exchange rates with other altcoin exchanges so can’t say a whole lot more yet.

Withdraws
From the website you can withdraw/send any of the altcoins you’ve mined to another address (instead of leaving them in the pool’s wallet or converting directly to Bitcoins).  I’ve talked to many others who’ve had successful withdraws here and reputable members who recommend the site but again I can’t post my thoughts until my account has built up enough where cashing out is an option.

That’s all for now but please check back often as I’m adding more and more to this site and will update this post with anything new.

Feel free to post in the comments if you’ve had success (or problems) with MinerGate.com

Saturday, June 25, 2016

How to Earn Free Bitcoins by Playing Games Online



With the Bitcoin price hovering above $650 ($667.02 as I write this), there’s a renewed interest in Bitcoins and ways to earn more of them. And for many people, Bitcoin faucets (sites that give away small amounts of free bitcoins) are becoming more and more of a viable option. I plan on devoting an entire section of this site to Bitcoin faucets including FAQs and guides on how to collect free Bitcoins from them. But for now the goal is to start earning Bitcoins right away and the quickest and easiest way I know of to do that is by visiting the best paying Bitcoin faucets.

This article covers the highest paying free Bitcoin website that I’ve come across so far, and it happens to be quite addicting as well.


It’s called FaucetGame.com. You can collect up to 250 free Satoshi every 15 minutes and play games to win credits (which can be converted to Bitcoins later). There is no cost to join but you do have to register an account which requires an email, Bitcoin address for payouts, and a username and password. Once registered, you can start collecting free Satoshi right away. They have a faucet that will give you Satoshi every 15 minutes, along with several casino type games where credits can be wagered, lost, and won.


Free Bitcoin Faucet
The first place you’ll want to go is the free Bitcoin faucet. This faucet pays very well when compared to other sites and the site layout is clean and easy to navigate so trying to collect free coins isn’t a chore. Banner ads are present but not obnoxious or invasive and collecting free Satoshi requires little more than clicking to verify you’re human. The faucet gives you a set amount, up to 250 free Satoshi every 15 minutes (the payout increases as you level up and increases even more on the weekends).

Here’s the catch…
The faucet payouts are rewarded as credits to your account, but no worries, the credits can be converted back to Satoshi and paid out in Bitcoins as soon as you reach the minimum payout (currently 50,000 Satoshi).
I believe the reason they convert payouts to credits is so that you can play the casino games with these credits, win (or lose) more credits, convert what’s left into Bitcoins, and it’s still not a gambling website and doesn’t fall under any online gambling laws. It’s completely free to play and costs nothing more than your time. And hey, you get to earn free Bitcoins by playing games.

Earn Free Satoshi by Playing Games
FaucetGame claims that the majority of their games are rigged in the player’s favor and after spending some (a good deal of) time on the site, I’ll agree that most of the games are rigged to let you win. Check back in the near future for a full guide on the games and ways to increase your payouts and earn more money.
If you’re brand new, “Falling Fortunes” has the lowest risk of losing credits so you might want to play it first. Wheel of Wealth and Slot Machines are other good ones to play when starting. Also, be very careful playing Roll of Chance (ROC) since changing the payout multiplier changes the odds and the allure of high payouts has caused many players to go broke.

Free Bonus Satoshi!
We’re not done yet. You can earn thousands of bonus Satoshi every single day and this is the number one reason FaucetGame ranks in the top free Bitcoin sites on the web. Let me repeat that… THOUSANDS of bonus Satoshi every single day. And it’s easy to do.

Daily Bonus
Play 5 of the games a set number of times (210 plays total) and collect the Daily Bonus Bitcoins. The bonus is multiplied by your player level so it starts off just ok but quickly becomes lucrative as you play the games and level up. You can easily start earning 1,000-1,500 Satoshi every day from this bonus alone.

Make it Rain!
While playing games you have the option of chatting with other players who are on at the same time. Each chat message you send costs 100 credits that goes into a Rain Pool. Every hour this pool rains free money on randomly selected chat participants. You won’t be rained on every time this happens, but it’ll happen enough to make it worthwhile and make you want to keep coming back for more.

Weekend Bonus
Payouts from the free Bitcoin faucet and the Daily Bonus are increased on the weekends for even more earning potential.

Refer Other Players
The site has a referral program that will pay you free Satoshi every time one of your referrals collects from the faucet. The person you referred still gets the same payout as everyone else, but you collect a small bonus in addition to the amount they receive. And this happens every time they collect from the free faucet. Refer more people and/or active players and this could be a nice little source of passive Bitcoin income.

VIP
It costs money to become a VIP player but some of the perks include increased payouts and the ability to auto-play the casino games. The full list of perks is available at the site and while it might be tempting to upgrade right away, higher level members agree that it is best to wait until you are a higher level before upgrading… otherwise the out of pocket cost is not worth the rewards.
I don’t have further info on VIP because I am still a low level and only considering it. If I do upgrade to VIP, I’ll post here with the juicy details.


There’s plenty more to do and say regarding FaucetGame but hopefully this overview gave you a good starting point for earning free Bitcoins right away.


References
1. FaucetGame.com – Earn free Bitcoins playing games online
2. Coinbase.com – Used for current BTC price