Alt-News #7: Eth transactions are 40k % faster & 96% cheaper than BTC / # of Hedge Funds investing in Crypto increasing / Micrsoft releases Confidential Consortium (Coco) / A couple crypto recommendations

in alt-news •  last year

As many of you are aware of lately and have probably been using to transfer funds faster and with smaller fee's over exchanges and other sites: Ethereum is officially 40,000 % faster than Bitcoin and costs 96% less to transfer.

Bitcoin has an average block time of 10 minutes, many exchanges require 6 confirmations of transactions before you can access the coins you've sent there which means an average time of 1 hour. Since only max 7 transactions can occur per second this also means that sending them with very low transactions might mean that your transaction won't get picked up by certain blocks when they are found and you will have to wait for the next one instead. If many users are overpaying transactions this could mean that yours that has the minimum transaction cost can be in limbo for a much longer time.

Ethereum has an average block time of 13 seconds, yes you heard that right. 13 seconds vs Bitcoins 10 minute average block timer. Although many exchanges require 50 confirmations this still means that on average it will take ~11 minutes for a transaction to confirm fully vs bitcoins 1 hour. Needless to say not all exchanges need to have a 50 confirmation requirement.

Compared to these two giants, Steem's block time is only 3 seconds and around 120 confirmations used by most exchanges which brings it to an average time of 6 minutes. Not only is it one of the fastest, but when using it from accounts to accounts it is instant and costs no fees. That means when you send to an exchange it will cost you no additional fees, only the exchange takes some which is usually 0.01 Steem.

So here are the average times it takes for each of these 3 currencies to be deposited onto your exchange:

Bitcoin: 1 hour
Ethereum: 11 minutes
Steem: 6 minutes

The average time it takes for them to be withdrawn onto your wallet (if exchanges executed the transactions instantly):

Bitcoin: 10 minutes
Ethereum: 13 seconds
Steem: 3 seconds


Hedge Funds have started investing in cryptos for real now, according to news.bitcoin:

Fund administrator MG Stover & Co, accounting firm Arthur Bell, and law firm Cole-Frieman & Mallon alone have 62 in the pipeline.

Corey Mclaughlin who is a managing member at Arthur Bell has said:

I’ve been in the hedge fund space since 1998, and I’ve never seen anything like it in volume of launches in a particular area. It’s just crazy.

Matt Stover, who is the founder of MG Stover & Co shared that:

This is the first time I can remember where we have had a hard time keeping up with the sales calls.

They are very surprised that so many instrituional players have shown interest in this asset class.

As many have said before, this might only be the beginning of the volumes and price increases we are seeing lately, 2018 might bring an even bigger explosion and make the charts of 2017 look like a small blimp in the history of the currencies.

Is this really the first big step into mass adoption? What do you think?


Microsoft announce the Coco Framework for enterprise blockchain networks.

They state that block-chains due to them being open-source have all transactions on a public ledger and they want to work on privatizing them more in the future. Making it easy for startups, retailers, health providers and personal usage to get the advantages of it without having everything public so that anyone can access them. Coco is open-source and enables high-scale confidential blockchain networks and provides means to accelerate production enterprise adoption of blockchain technology.

It leverages the power of already existing blockchain protocols and enables enterprise-ready blockchain networks that deliver:

  • throughput and latency approcahing database speeds
  • richer, more flexible, business-specific confidentiality models
  • network policy management through distributed governance
  • support for non-deterministic transactions

Coco is open and compatible with any blockchain protocol and has already begun integrating with Ethereum and have announced that J.P. Morgan Chase, Intel and dR3 have also committed to integrating their enterprise ledgers which are Quorum, Hyperledger Sawtooth and Corda.

They also say that this is just the beginning and are looking forward to exploring more integration opportunities with other ledgers in the near future, hopefully Steem also being one of them. :)


Since my one Alt-News post where I was talking about NEO and StorJ and TenX early one some people in the chats have been asking me for some advice on some other coins that could have a good entry point right now for a small investment. Before I give out any advice I want to make sure that the readers realize the risk in this and therefor add a disclaimer to this.

Disclaimer

Never invest more than you can afford to lose. Before investing make to re-search the currencies yourself and not follow advice blindly.
Having said that, I am not getting paid by these currencies to advertise their names and won't be going too much into detail about them as to not try and sway you into placing in a big amount of value. Also remember that this is usually not a short-term trade and past performances or advice does not mean it will turn out the same way in the future. If I am ever doing a promotion post for these I will make it clear that it is promoted content.

Asch is currently one I would invest a small portion in from the low total supply alone and the fact that it is only trading on a few chinese exchanges, so if you manage to get registered there and check if you're able to purchase some I think it might pay off in the long haul, especially once other exchanges start trading it and bring in more volume into it. This is what their chart looks like right now:

Another one that I think has a somewhat good time for an entry point - although it was much better earlier before I started writing this (jumped from around $1.05 to $1.20 in the meantime) is Ark.

It might be wise to wait for a drop as its currently at 40% increase in the last 24 hours, but with a <100 million coin supply and a bridge for different blockchains and a physical card system with NFC might help with adoption of this currency and if the recent uptrend in currencies continues like it has recently I can see this one going up to $5-$10 in the upcoming weeks/months.

This one does also trade on Bittrex so it makes it a lot easier to purchase and hold there or download their wallet from their website if you want to feel safer than holding your coins on an exchange.

My 3rd suggestion would be... drum roll... Steem!

Currently at #22 on coinmarketcap.com and down 4.58% since 24 hours ago. As you know it has an active development team and according to @penguinpablo's stats has an ever increasing userbase and activity. Even though its still in the stages of minting out new coins daily its one of the currencies with the best use-case out there right now and I believe due to it being so young still and only on a few exchanges (which one of them has been having a lot of issues remaining up for Steem recently) could be a good sign for it being undervalued right now and a good mid/long-term investment. Especially if you power it up and use it for curating/posting to increase your investment.

Feel free to discuss these suggestions in the comment section below and if you have happened to read and act on my previous mentions of currencies in the other Alt-News I would obviously be happy for you if you have made some profit off of it!


Image Source: Arthur Bell
Image Source: MS Azure
Source to the MS story


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I hope that in the future we can pay with Steem like we can pay with BTC or ETH it is so much faster and cheaper that it puts the two big ones in the shadow. I am happy to be part of this great platform. Coco is also capable of supporting existing hardware environments, into an off chain Ethereum blockchain ecosystm. It will increase the flexibility for companies for the use of decentralized applications. With the off chain solution companies can process bigger quantities of information and have no scaling problems. It looks like something good is coming from Microsoft I wrote yesterday in my crypto news about it, it is nice to see more information of this topic in your post. The Investor Tuur Demeester was saying that hedge funds related to crypto currencies are exploding for the moment. He was also saying that companies and law firms are currently working on authorizations for crypto hedge funds and that in total more than 70 hedge funds are in the pipeline. Man I tell you the whole world of crypto is so exciting for me I can barely sleep of excitement to know what's coming next. Have a nice day :)

Steem transactions is really quick! I love Litecoin and ETH also

Thanks for sharing this post

I wonder how long Bitcoin can really stay #1 for? It's technology has been hugely surpassed but as long as it's pretty much the only way of bridging between fiat and the altcoins it's going to be in demand

Steem sort of fascinates me as a coin because it has a very pronounced use case, the fact that you can power up on steemit and that increases the amount you can award through upvotes. That is one of the things that was a big draw for me to try it out.

Hedge funds I'm not so excited about moving in. They will be those who cry and lobby to get laws that are in their favor and not the "common" folk but it is what it is and the big money is coming in.

Nice to hear about a few alts as well since I was not aware of some of those and it gives me a good starting point to look into them.

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Very true. Coins are coins are coins. But Steem has a value-added property attached to it in Steemit which brings stability and a clear "reason" for growth over time. Not to mention the lightning fast transaction times and no/low fee aspects.

In time I suspect more attention will come this way as people really learn and understand how STEEM as a supportive currency here helps so many causes and community initiatives via Steemit.

At the same time you're right - we don't want regulations or lobbying. That defeats the purpose of cryptocurrencies.

This post is very informative. I sent $1020 worth of Bitcoins on Saturday as well, and it took more than 7 hours to hit the destination wallet. Ether is very fast though, I've seen this myself. However, I sent another BTC transaction today and it took less than 2 hours this time.

The banksters are scurrying like the scurvy little spiders they are, think George Bailey. The fact that they are, will give John Q. Public the go ahead, to dip his toe into the water.

I like the comparisons to Steem against the big dogs in this pack. I think that building social media with a cryptocurrency was, and is a brilliant idea.

These are just my personal opinions. I think the time is now to shake all the bugs out of Steem. Just like in the movie CONTACT, You just got your WOW signal.

Wake up the Astronomers, dust off the instruments, Mr. Haddon is asking Ellie, "WANNA TAKE A RIDE?"

I think Steem has a lot of potential , many people may not feel that way , but I have hope for its future and that's why it is one of my investments as well. And for Eth, many people have talked down about it since it had a fall and Bitcoin was raising , the results of its ability are stated all here and we just need to give certain cryptos a chance . Great recommendations , in going to check out the other two options you showed . Haven't been in this market business too long so it's just fascinating to me .

I think that Coco from Microsoft will change the pace of adaptation of blockchain technology in the mainstream computer industry. Good or bad, I do not know. Time will tell. Bitconnect is exploding from $50 to more than $100 today; in just a few weeks.

Thanks for the recommendations. I'll look into Ark and Asch.

The Hedge funds are definitely one of the first steps toward mass adoption -but still, I think, very far away from that place. At this point, there's too much chaos for the majority of people to navigate crypto-currencies in general - even if they could be made to understand how to access it. But most people can't even do that. Add in the crazy volatility - including the rampant scamming - and I think you could be looking at a generation before it is truly mass adopted.

Which is, perhaps, a good thing - the longer the delay, the greater the intervening opportunity.

such a great analysis @acidyo , worth to UV
thanks for introducing this altcoins but.. you know .. always I'm afraid from buying that.. I scare to going down as soon as possible and i lose my money.. I don't know its good or bad , but I can't risk, It's maybe I lost a lot of my money because I sold my bitcoins and ... now bitcoin is flying ;)
I ' m very sad , and I don't know what can I do now ..
but thanks for your great info
I think it's better to buy some steem cause I think it will be powerful more than a lot of the other projects , I hope so

Wow, "Steem: 3 seconds" is killing it! I didn't know that they were so much faster than Bitcoin and Ethereum...

I have put most of my eggs on Steem because I believe in it just like most of you do. Let's hope we are right.

I just don't know why the Steem price keeps going down while bitcoin is flying up. I am guessing a lot of people are cashing out of Steem to buy bitcoin because of the bull rally :/

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Combined with poloniex sucking like always...

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I can't exactly understand why Steem keeps going down in price :(

Dang! I knew Bitcoin took longer, but I didn't realize how quick Steem is! Thanks for the info. :)

Great update!

Now that's an article that's jam packed with useful information and still organized. Thanks man! I haven't heard anyone mention Ark for a while. I've been wondering when it would resurfave.

Excellent post and good comparison @acidyo. Thanks very much. My statistics and metrics will further support your arguments for STEEM. Check here: https://steemit.com/teamaustralia/@lucky.digger/my-steem-statistics-after-1000-posts

are you crazy?

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Sometimes I guess.

Great analysis.Thanks for your effort.

This is true ETH is much faster than BTC transaction time
recently heard that they are doing over 1 million transactions
per block and this could help ETH to reach ATH

How faster steem than those two superior crypto?

Thank you so much for providing the information about the transaction of crypto currency. Friend I have something to share with you, as my area are suffering from flood problems, so please come to my post and please do what ever you want to help the effected people. Friend please for the sack of humanity please do something so that I can help them as the people are in great trouble mainly my students and old people. So please friend do something ,have a great time friend happy steeming.

Steem's potential has to be improved. Already taking precautions, leaving the withdrawal of SP to 3 months. But there is still something to make the page more competitive, compared to the market power. Facebook, twitter, other. Added to the desiguladad of the users who have the SP that dominate the trends,

Thx for your idea about the Ark and Asch. And i think steem has lots of potential . In the steem platform, there are many steemers who has diff abilities to contribute steem platform, at final, the steem/ SBD may have dramtically raise chance.

I like your posts

Thank you, Well put article.

Do you recommend a physical wallet?

Thanks for recomendations. It will help the steemit family to grow in right direction. Please upvote and support me.
Here is my introduction post. Please have a look in it.

https://steemit.com/introduceyourself/@raist/namaste-from-india-the-beautiful-city-chandigarh

LOOK AT THOSE ETH numbers people! Great software is coming up on ETH's block chain. Get ready for ETH to blow!

Really @acidyo? So sad im using blocktrades and bittrex :(( I thought this are the better one..

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They are.

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I tried to reach ethereum right now lol.. :)
Thanks to your informative post sir @acidyo

thank you @acidyo so rhe steem coin is the fastest crypto in the world ;)

Upvote, Follow and Resteemed!
Thanks for info @acidyo

good - resteem

Analysis is very awesome .. if I can .. success for you @acidyo

Alt-news great! Post!

I guess the higher the importance of the coin, the higher transfer time. When steem will get to 10 minutes steem owners will have a lot of zeros in their accounts!

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No, that's not how it works.

Amazing Post Man! Upvoted, Followed and Resteemed!
Check out my post too! Not a Spam just a request...
Happy 70th Independence Day Pakistan.

Nice information I like it
Hope we get more information about news

Plz requesting to upvote my post
@krpawarssc

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I don't do requests.

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Very good said @acidyo!

This is very good when fast transactions. But do not forget that bitcoin is called digital gold, and etherium is silver. Therefore, for these two crypto currencies it does not matter how long they will be transferred to the purse.
Steemite is very important for users of this site, so the speed here is a big plus.

Now I understand what happens. The point is - a few weeks ago my husband tried to explain me that BTC's weak spot is a transaction time. Thanks to your posts I'll may be finally begin to understand something in cryptocurrency, at east I can catch 50% of information with my artistic brain:)

This post received a 5.0% upvote from @randowhale thanks to @ehiboss! For more information, click here!

Amazing post @acidyo

I'll be doing tons of research tonight, thanks buddy :)

@acidyo it's really good news but many people still transaction with bitcoin just beacuse if many programs accepting only btc and main things is many of place is bitcoin is legal so that is the big options for transaction but the main things.
I had considered bitcoin transaction which is slow even it takes 2 days for confirmation on coinbase. I just read in your articles it's really good option we started to use ethereum had big future bright!!

Steem as a coin is cool because you can contribute to it's success in so many ways. I don't like the idea of banking to become so easily and readily merged with bankers. I oppose this because it represents an agreement was made with those we seek to be free of. They control our dollars. Not our coins.

Thanks @acidyo for your informations, i must make decision for invest

upvote me and follow me @jhon007 this is amazing article.

Solid Info. Just like with the real estate market over the past 10 years, when hedge fund money comes in the price of everything gets driven up. Love to see the "smart money" coming into the crypto space.

great coin information...

upvote and resteem

Congratulations @acidyo!
Your post was mentioned in the hit parade in the following category:

  • Pending payout - Ranked 9 with $ 264,06

Great stuff, thanks

Very helpful post..

I always use eth to transfer my funds then convert to btc to sell.

Thanks a lot for this post. While lots of crypto investing still seems to be luck (picking the right currency or time), it is great to have some direction.

Recently I have been investing in the big currencies for short term gains, and the smaller currencies such as Steem for long term. However with my (still) relatively minimal knowledge I am wondering what other people think is most effective for short/long term gains?

Wow man, what a great post you share, at least to me as a newbie here on steemit, and even newer on crypto, this is perfect. Sometimes I feel I was late for the crypto boom, and eve late for steemit, it seems that the train has already pass for me, but I keep reading that this is just the beginning. As you said, this is gonna be a huge break in history, and I hope 2018 charts prove you were right there, I can't get tired to find this articles, this is one of the biggest reasons I decided to stay in steemit when my earnings seems to be almost zero, people taking time and working hard on writing something really useful to other people.

@acidyo very impressive what you wrote i think alt coins are blessing but do not why still people rely on Bitcoin