The thin red line, “A day in the life of a crypto currency” UNO
There are many Steemit users that do not own Bitcoin and may never have that vision to do so, even though Steemit is in the crypto currency space. Bitcoin has benchmarked many digital assets and held the rank of the most valuable digital asset in the crypto currency market place. I woke up this morning to once again seeing Bitcoin at an all time high therefore decreasing my other digital asset equity against the mother of all digital assets.
One of the most unique coins I have vested interest in has the quality of being one of the rarest tokens that was derived off of the Bitcoin blockchain. This particular digital asset is UNO or Unobtanium.
Being part of an early adaption period, a close friend/business associate and myself started competing in buying an unobtainable coin…lol. So a few days ago when Bitcoin started rocketing itself skyward, all of my other digital assets started to red line downward. Everything but Unobtanium (UNO) which was going up equally fast as Bitcoin.
To hedge my investments I went to Bittrex to trade out some UNO and the wallet was down, not for a day but several. I left all alone and left my UNO investment in my Electrum wallet. A few days ago I woke up to a long red line that deleted more than half of my UNO equity, 58% to be exact.
On Bittrex site, a message appeared stating they would delete the UNO digital asset on October 20th. I scooped up what I could at the low price and started researching what had materialized.
From what I uncovered was a miner or group of miners stopped mining resulting in 836 PH of dedicated hashes to only 335 TH of hashes. This is more than 2400 times less hashing power than the previous high!
Hashing power secures the network and wallet technology therefore, Bittrex (opinion) suspended the wallet trading and after reopening the wallet put forth notice to Bittrex clients it would delete UNO.
With this minimal hash rate, it may be an opportunity to mine UNO. All in all, hold Bitcoin and tread the world of Crypto Currencies and digital assets with caution.