Dotcoin likely to generate large profits for early adopters
Dotcoin (DOT) is a cryptocurrency which launched in March 2014. It uses the scrypt hashing algorithm, so it can be generated by the same equipment used to mine Litecoin and Dogecoin. There are currently 248.3 million DOT in circulation and eventually there will be 890 million DOT. This is actually a relatively small amount of coins, for example Dogecoin has 101 billion coins at this time. 500 DOT is rewarded to miners for each block and there is a new DOT block every 2 minutes, yielding 360,000 new DOT per day for miners. The relatively small amount of total DOT in the world and the slow pace at which DOT is mined are conducive for a price increase.
DOT is the official coin of Cryptopia (
https://www.cryptopia.co.nz/ ), which is a cryptocurrency exchange and mining platform based in New Zealand. Cryptopia has the potential to become the biggest website in the alternate cryptocurrency world due to its streamlined design and wide variety of options. There are dozens of cryptocurrencies which you can trade, with 7 trading pairs to choose from for each coin. Dozens of mining pools are directly integrated into Cryptopia so you can mine and trade cryptocurrency on the same site, eliminating the arduous task of transferring coins from your pool to an exchange. Cryptopia also has a built-in chat, and this has become quite popular. People talk about cryptocurrency 24/7 on cryptopia chat, making it a great place to learn about cryptocurrency and keep up to date on the latest news. Tips are integrated directly into the chat, so users can send a plethora of different cryptocurrencies to each other instantly. Cryptopia is a great place for new cryptocurrency users, within an hour of joining I had over a dozen different types of cryptocurrencies, all given to me by other users for free. These tipped coins go directly into your balance and you can trade them on the in-house exchange. DOT can also be used to vote for new cryptocurrencies to be added to the exchange, to invest in Cryptopia via buying shares, and is the most common tipping coin in the chatroom.
Most alternate cryptocurrencies have little intrinsic value, but DOT is different since it is directly tied to Cryptopia. As Cryptopia grows so will the demand for DOT, and I expect the price of DOT to go up substantially. Currently it costs 20-21 satoshis to buy DOT, yielding a total market cap of ~50 Bitcoins. Even a slight increase in DOT demand could cause a significant price increase, it would only take 10 Bitcoins or so to cause a major rally, and in the cryptocurrency world that isn’t much. DOT is guaranteed to go up as Cryptopia expands, and those who buy it at the current price of 20-21 satoshis will undoubtedly profit. It won’t be long until DOT is traded on other cryptocurrency exchanges such as bittrex, poloniex, cryptsy, c-cex, bleutrade, etc. The mere action of adding DOT to another exchange will likely cause a major price increase, and I expect that to happen in the next week.
DOT can be bought with Bitcoin at
https://www.cryptopia.co.nz/Exchange?market=DOT_BTC Currently it costs 0.021 Bitcoins to buy 100,000 DOT and 0.21 Bitcoins to buy 1 million DOT. There are only 248.3 million DOT in the world as of this writing, so even buying 1 million DOT could end up being highly lucrative as Cryptopia expands and the demand for DOT increases. Additionally DOT can be bought with Litecoin, Dogecoin, Feathercoin, Popularcoin, and Unobtanium. The variety of DOT trading pairs creates numerous arbitrage opportunities, where one could profit simply by buying DOT on one pair and selling on another.
Clearly we are still in the early days of DOT since it is so cheap to buy a ton of it. This is the time to mine and buy DOT, before it is added to a major exchange, since I expect DOT to exceed 100 satoshis and the hashrate to jump an order of magnitude the week that occurs. Cryptopia will easily become one of the biggest platforms in the cryptocurrency world on its current trajectory, and demand for DOT will inexorably and significantly increase in the long term. I haven’t seen such a promising cryptocurrency in a long time, it’s reminiscent of the early days of Dogecoin.
Full article at:
http://www.usacryptocoins.com/thecryptocurrencytimes/uncategorized/dotcoin/Hello. When the Windows wallet? And when will the alternative pools?
The best pool is on cryptopia:
https://www.cryptopia.co.nz/MineShaft?pool=DOTThere is a good 100-500 mh/s not on that pool at any given time, so I think there is another pool, would be nice if someone linked to it. Could be solo miners tho.
