Siacoin will soon change their algorithm to block most ASIC miners as they believe it is harmful to the community. However, there is a stipulation that leads me to believe that they are not doing this for the benefit of the community but instead doing this to create and benefit themselves. That stipulation is the fact that they are not blocking their own ASIC miners. The blocking of ASIC miners follows a pattern that other coins, such as Monero, have already taken and that coins at ETH, are planning on taking to break the monopoly that companies like Bitmain have over mining. However Bitmain can just produce another set of ASIC miners to get around the issue and the fact that he is just blocking ASIC miners that are not from his own company signals to me that he is mainly doing it to monopolize the market with his own miners and so I do not trust this move as I believe it is a self-serving move and not one that helps the community.
Dogecoin, Lisk, ZRX, Siacoin, Golem get USDT pairs at Poloniex
Dogecoin, Lisk, Zrx, Siacoin, and Golem got paired with USDT at Poloniex today and represents(I think) the first time these coins got a stablecoin pair that investors can use a safe haven to trade into if they see downward sentiment in the market. This is good for these coins because people will feel that they have more liquidity when they trade for these coins on Poloniex and will be more likely to trade in them and is good for Poloniex because fans of these coins will more likely trade at Poloniex when they trade these coins.
Dogecoin, Bytecoin, and Siacoin, its time to buy?
Ever since Coinbase last week announced the possibility of adding 40 new coins, I’ve been looking at three of them. Those three would be Dogecoin, Bytecoin, and Siacoin. Bytecoin has been generating lots of buzz and I think being added to coinbase, which has a good chance to be picked up by retirement and pension funds sometime in the future, will drive up both the demand and the price of the coin. People are also excited about the technical capabilities and potential of Bytecoin. Siacoin, I am excited about the service and product that they are going to offer. Being able to rent or sell unused hard drive space would fill a need and there is a big market for it. Once it gets in front of more eyes, I think it will go up. Dogecoin, I think, has a lot of potential as well, especially since it got listed in Robinhood and since it is used as a trade-in coin for smaller cryptos. It seems that the once meme-coin is gaining major traction and may become a staple in institutional funds in the future.