My Bitcoin Mining Experience

PayBase is the platform launched by GAW,  a platform that is created for transactions and services with XPY(PayCoin - the coin developed by GAW). XPY, The Coin I just want to take a moment to address XPY as a coin. I think what GAW is trying to do with their coin is an excellent concept, brining it to mainstream consumers. One way they said this can be done is the spending it at large online merchants which is a good start. One of the reasons they thought brining crypto to the masses is building the XPY floor. What they mean by floor is the minimum price of their coin (stated to be $20 USD), making it's volatility very little, or non-existent. GAW has dropped the ball for keeping the floor, the coin being averagely around $3 USD. I'm not saying that it will never get to the level,  however, i don't think anytime soon. Current Features Currently, PayBase allows users to store their XPY(PayCoin) in PayBase , and buy/sell XPY. It has an internal market tha...

Paycoin Paycoin is a SHA256 algorithm coin released by GAW Miners a couple days ago. The coin is now open to be mined by anyone with SHA256 hardware with a few possible pools to choose from. I'm personally mining it with 2 antminer S3's and mined 1.5  XPY(paycoin) within 8 hours. Paycoin is currently in it's POW (proof of work) phase, but then will phase into it's POS (proof of stake) stage in the upcoming weeks. GAW has stated no 100% promises of the coins value, however on December 19th 2014, they are releasing their Paybase platform and doing a coordinated launch with "many" large currency exchanges (Something like Cryptsy I imagine). GAW and the community on launch expects a price of approximately $20 USD, and through this launch they intend to actively try to moderate the market price. Current Market Paycoin Pool Wallet

When you first get into bitcoin, whether it's mining or investing, you've got to have a good grasp on the market. This post is just to give you a little bit of understanding what some of the factors are that can effect the price, and in turn, your investment. Supply and Demand This is a very basic factor and is involved in basically every things cost. This principle simply states that if there is a good deal of something available, lets say bitcoins, the demand will be very low which decreases its value/cost. Inversely, if there is very little supply it will push the cost higher. Circulation If you mine bitcoin, i very much encourage you purchase items with it, it strengthens the bitcoin economy through natural circulation. It helps secure a real world cost to the currency if its able to actually be used instead of just sold to third parties. now this may not be a factor to many currencies but you need to keep in mind that this is a decentralized curr...

Anyone that's on the same mining pool as me, CEX.io, you should definitely be leveraging the trading capabilities that they service. The Basics The basics of trading on CEX.io is a couple basic principles; buy low and sell high, and that the market changes due the the value the people THINK THEY ARE WORTH. So the first point is very simple, take some time and watch the market. As the markets trend up and down it will eventually become second nature to you how they operate. Now, these trends are not determined by time or value, since this is virtual currency it isn't governed by anyone but the users/consumers. For instance, when a bitcoin was worth $800 USD, not one person chose that it was worth that much it was governed BY ALL TRANSACTIONS. Please refer to investopedia for a good writeup on supply and demand in investing. (All my currencies are in trading at the moment, so the balances read "0") Referring back to CEX.io, here's what one of their...