BTC Technical Analysis Feb 18, 2018
Bitcoin is in a major technical zone. Will BTC turn bearish? Stay Bullish? BTC technical analysis on Feb. 18, 2018
40% Price Drop On Hashflare Scrypt Contracts
Due to the latest trends in the crypto and hardware market, Hashflare has dropped the price of their Scrypt cloud mining contracts by over 40%. This means the new mining contract price will be just $4.20 per 1 MH/s! Hashflare seems to adjust prices on their cloud mining contracts every month, so take advantage of the huge drop in price while you can!
10% Discount Code thru Feb. 18
For Valentines Day, Hashflare is offering a 10% off discount codes on all contracts. From February 13 to February 18 you can use code "HF18SVALDAY" to take 10% off all your Hashflare mining contract upgrades.
Litecoin Cash: Coming February 2018
Litecoin Cash is the first hard fork of the Litecoin blockchain. This fork will occur around February 18, 2018. The jury is still out on if this is a legit project or just a money grab scam.
Litecoin Cash Fork Details
- Symbol: LCC
- Fork Block: 1371111
- Claim Ratio: For every 1 LTC you hold at the fork block, you’ll receive 10 LCC
- Max Supply: 840 Million
- Mining Algorithm: SHA256
- Block Time: 2.5 Minutes
- Segwit: Yes
- Lightning: Yes
Features of Litecoin Cash
There are a couple features of the LCC project that make it intriguing and will make mining LCC more fair.
The first is the mining difficulty recalculation algorithm. Litecoin Cash will use Evan Duffield’s DarkGravity V3 algorithm from DASH. This will provide a more predictable block time as well as add protection from multipool hopping.
The second is the slow-start control to mining. The block rewards will start at 1.25 LCC and grow to 250 LCC over the first 400 blocks after the fork to prevent early LCC miners from having an unfair advantage. The first 24 blocks after the fork will be mined at minimum difficulty. After this, the DarkGravity algorithm will adjust the difficulty based on observed block generation times. The halving of block rewards will occur at the same chain heights as Litecoin.
Litecoin Cash Premine
Litecoin Cash will employ a premine of 1% of the total supply at the time of the fork that will be paid to a development fund.
Charlie Lee Calls Litecoin Cash a SCAM
Charlie Lee, the creator of Litecoin, calls Litecoin Cash a scam saying on twitter “Since on the topic of scams, any fork of Litecoin, calling itself Litecoin something or other, is a scam IMO. Litecoin Cash, Litecoin Plus, Litecoin *… all scams trying to confuse users into thinking they are Litecoin.”
Since on the topic of scams, any fork of Litecoin, calling itself Litecoin something or other, is a scam IMO. Litecoin Cash, Litecoin Plus, Litecoin *… all scams trying to confuse users into thinking they are Litecoin.
This also applies to all Bitcoin forks trying to confuse.
— Charlie Lee [LTC] (@SatoshiLite) January 30, 2018
Charlie also says that this is not a fork from the official Litecoin team saying “The Litecoin team and I are not forking Litecoin. Any forks that you hear about is a scam trying to confuse you to think it’s related to Litecoin. Don’t fall for it and definitely don’t enter your private keys or seed into their website or client. Be careful out there!”
PSA: The Litecoin team and I are not forking Litecoin. Any forks that you hear about is a scam trying to confuse you to think it’s related to Litecoin. Don’t fall for it and definitely don’t enter your private keys or seed into their website or client. Be careful out there! https://t.co/qXbiIxp5Al
— Charlie Lee [LTC] (@SatoshiLite) February 4, 2018
Time will tell if this project is legit. If exchanges list LCC, it will be up to the market to set a price. As we have seen with BTC forks, some of these projects can have value. Before you claim your LCC, make sure the LCC wallet you lose is legit so you do not get your Litecoin stolen.
Litecoin Cash Links:
Litecoin Cash Website: https://litecoinca.sh
Litecoin Cash on BitcoinTalk: https://bitcointalk.org/index.php?topic=2876538.0
Litecoin Cash on Twitter: https://twitter.com/LitecoinFork
Litecoin Cash on Telegram: https://t.me/litecoincashofficial
Litecoin Cash on Discord: https://discordapp.com/invite/F2nZXnW
Litecoin Cash on GitHub: https://github.com/litecoincash-project/
Binance No Trading, Withdraws During System Upgrade
Binance will be down another 10+ hours for a system upgrade. No trading or withdraws on Binance during this time.
Binance says “Due to a significant increase in users and trading activity, Binance will need to extend the System upgrade and is expected to be completed by 2PM (UTC).
Our team is working hard to complete this upgrade as quickly as possible. We will make an announcement to all users if completed ahead of schedule.
Withdrawals and trading during this period will remain suspended. We apologize for any inconvenience caused and thank you for your patience.”
From Binance CEO Twitter
“We experienced a server issue on our replica database cluster, causing some data to be out of sync. Need to fully resync from master. Due the size of the data, it will take several hours. No data is lost. We appreciate your understanding and support.”
Ecoin Pump Before The Dump
Ecoin is ripping higher but this is a classic example of a crypto pump and dump. Do not buy!
BTC Closing in on a Bottom?
The downside pressure in BTC is still strong but we are getting over extended. With the RSI oversold and price being far extended from the 20MA, will Wednesday which brings a red 9 on the time analysis bring a bottom or at the very least a bounce?
Nicehash Hack Reimbursement
Nicehash will begin reimbursing hacked funds on Feb. 2, 2018. If you had a balance on Nicehash, you can enter the repayment program starting Febuary 2, 2018. Nicehash will move over your old balance to your current balance in parts.
Bitcoin Private Fork
The Bitcoin Private (BTCP) Fork snapshot will happen February 28, 2018. No block released yet but the snapshot will happen on a block during that day. However many BTC and ZCL you have in your wallet at the time of the snapshot, you will receive the same amount of Bitcoin Private (BTCP).
The BTCP team is not allowed to talk about exchange support so an announcement on BTCP exchange support will either come from an exchange or third party.
The ZCL Electrum wallet has been released and can be downloaded at https://github.com/BTCP-community/electrum-zcl/releases/tag/Z!1.0.0
Hashflare Mining Contracts: Most Profitable To Least Profitable
Hashflare offers many different cloud mining contracts including Sha256, Scrypt, Ethash, and Equihash. I wanted to find out which one of these contracts is the most profitable. For these profitability calculations, I used the closest to $1,000 of hash power without going under $1,000 for each cloud mining contract offered on Hashflare with BTC at $11,285 on January 22, 2018. The profitability calculations will vary with the price of the coin being mined and difficulty adjustments, but as of the time I took the calculations, this is what I found to be the most profitable cloud mining contracts at Hashflare.
Hashflare Ethash (ETH) Mining Contracts
Based on current market conditions Hashflare Ethash cloud mining contracts mining ETH are the most profitable. $1,012 gets you 46 MH/s of Ethash mining power. This amount of hash power at current conditions makes around $5.19/day, $155.73/month with a break even of 194.95 days.
Hashflare SHA256 (BTC) Mining Contracts
Hashflare SHA256 contracts mining BTC comes in as the second most profitable cloud mining contract at current market conditions. $1,012 gets you 4.6 TH/s of SHA256 mining power. After subtracting the maintenance fee for SHA256 contracts, this amount of hash power earns about $4.28/day, $128.32/month, with a break even of 236.6 days.
Hashflare Equihash (ZEC) Mining Contracts
Coming in at number three is Hashflare’s Equihash mining contracts mining ZEC. $1,000 of Equihash mining power gets you 500 H/s on Hashflare. Based on current market conditions, 500 H/s mining ZEC makes around $3.80/day, $113.93/month, with a break even of 263.32 days.
Hashflare Scrypt (LTC) Mining Contracts
Hashflare Scrypt contracts switch to most profitable coin so earnings should be higher than listed. These calculations are solely based on mining LTC. $1,050 will get you 140 MH/s of Scrypt mining power. Based on current market conditions and subtracting the maintenance fee, 140 MH/s mining only LTC makes around $2.99/day, $89.75/month, with a break even of 350.97 days.
BTC Price Chart Analysis
BTC is still looking bearish. Will Bitcoin make a run to test January 2018 lows?