Famous for scandalous predictions on bitcoin rate, programmer John McAfee started on Twitter a new category about “unique altcoins,” mentioning that most of the 2,000 coins are trash or scams. At the same time, others “will change the world.” “You can support that change,” the author said.
On December 13, even before “the mass tips,” McAfee argued that the coins with anonymous transactions would have the greatest future: “Coins like Monero (XMR), Verge (XVG), or Zcash (ZEC) cannot lose.” In the next post, McAfee explained why Verge is in the list: “It is easier for a 3 cent coin to go to 3 dollars than it is for a $300 coin to go to $30,000”. On the same day, Verge crossed the mark of $0.01 and over the next days increased to $0.27.
Adherents of bitcoin are up to every move in discussions as well:
On December 21, the first of McAfee’s daily coin reports was Electroneum. On the same day, it pumped and dumped. The altcoin pumped from $0.08 up to $0.12, and immediately dumped to $0.09, and is still volatile between these figures. According to entrepreneur, the Electroneum advantages are privacy, availability of mining on smartphones, and low price. Users immediately began to ask where to buy Electroneum. So, it was revealed that Electroneum is traded only on the exchange Cryptopia:
McAfee was immediately accused of advertising an unavailable coin. He predicted, however, that many exchanges would follow the Cryptotopia example and introduce Electroneum. Moreover, he emphasized that he owned no ETN and was not pumping for his gain: "I am showing you the incredible value of supporting a coin that will change the world."
It is interesting that on Friday the choice fell on an increasingly popular cryptocurrency BURST. On Friday, it entered the “Biggest Gainers” on the exchange Bittrex, with cryptocurrency weekly growth amounting to 156%. McAfee stated that Burst uses 400 times less power than Bitcoin: "Super secure and private. Includes smart contracts, encrypted messaging, decentralized wallet <...> Most undervalued coin."
We decided to ask Anton Bukov, the author of the article about efficient BURST mining on macOS, whether or not this cryptocurrency is really so good. BURST blockchain is based on the NXT code and uses a new consensus algorithm called PoC (Proof of Capacity) and smart contracts. This currency is unique in that it can be mined even when the cellular network type is EDGE: “Burst has the minimum load on the Central Processing Unit (CPU), Graphics Processing Unit (GPU), and network.”
Regarding the specifics of the cryptocurrency mining, unlike PoW (Proof of Work), PoC (Proof of Capacity) algorithm uses hard disk space to mine new blocks. To get the right to create a new block, you need to generate some huge files (called plots). The more significant the number of your files, the more likely you will mine the next block.
Speaking of the particular ratio, Anton Bukov gives these figures: “If you have 10% of the total volume of all participants' plots, you will generate each 10th block.” You will only need to read 240MB from disk for each 1TB on average once every 4 minutes: roughly speaking, this proves that you still store the file. The calculator allows you to determine how much money you will get with specific capacities. According to Anton, today you can earn 15 BURST (≈ $0.25) daily or 100 BURST (≈$7) monthly for each 1TB of space. The most popular programs for BURST mining are creepMiner for macOS and BlagoMiner for Windows. Anton, however, explains that you can mine alone (solo) and you can do it in a pool. In the first case, the rewards will be rare but significant; in the second one the rewards are regular but small. As of this writing, the total volume of the network is 140 PB.