Dogecoin Has Forked Up – Update Client Immediately

A fork has been found in the Dogecoin blockchain, and we recommend holding off any transactions until this issue is fully resolved.

This means that the blockchain, which is responsible for logging all transactions made on the Dogecoin network, has split apart. This means that transactions currently being made will appear on only one of the blockchains.

Eventually, one of these completing blockchains, the one that turns out to be correct, will ‘win’, and only transactions that were recorded to that blockchain will eventually go through. This leaves users at an extremely high risk of losing any transactions made during this period.

Right now, the best thing you can do is  update your client to the newest version, and remain calm. This issue will be fixed, just as the other previous forks have. This is not the time to panic sell, despite the price of Dogecoin dropping. It will recover, and everything will smooth out very soon.

Until then, try to keep Dogecoin transactions to a minimum.

Why Bitcoin Is Dropping – Two Major Exchanges Halt Bitcoin Withdrawals

Bitcoin is going through a rough patch right now, with a major security issue causing a temporarily halt in all withdrawals on two popular Bitcoin exchange websites, Mt. Gox and Bitstamp.

A bug in the Bitcoin network has been discovered and exploited, allowing criminals to commit refund fraud when attempting to withdraw Bitcoins from the exchange services.

The bug in a rather specific way. As we know, all Bitcoin transactions are publicly available on the Bitcoin blockchain. Exchange services use this to verify that withdrawals have successfully been completed.

Criminals have found a way to, in a sense, duplicate the information in the blockchain after making the initial transaction. Of course, only one of these will be verified, which leaves one that is left unverified. This tricks the exchange into thinking that the Bitcoin was not successfully sent, so the exchange sends the payment again. This has resulted in thousands of Bitcoins being stolen from the two exchange sites.

Other exchanges have already designed ways to stop this from happening, and while both Mt. Gox and Bitstamp have plans in mind to stop this bug from being exploited, they are forced to halt withdrawals until the issue is fixed.

This issue has caused Bitcoin to fall down to $620, only half of what it was less than a year from now. The price of Bitcoin is expected to rise when the blockchain exploit is fixed within coming weeks.

Warning: Do Not Put Money Into Cryptsy Right Now

Note: Delays appear to have shortened up, but are still there. Trading on Cryptsy can still be used, but it may take a while for your coin to come through.

There has been a lot of drama surrounding the popular cryptocurrency exchange Cryptsy right now, and the issues have arose to the point where we recommend avoiding the exchange altogether for the safety of your money.

Several users, including myself, have put large amounts of coin into Cryptsy, and have yet to see it credited into our accounts. While no service is ever perfect, several users have reported waiting more than 72 hours for their coins to show up, with coins still not being desposited into their accounts.

Cryptocurrency prices can fluctuate dramatically in a short period of time, so it’s extremely important that people can use the exchange as quickly as possible, however, Cryptsy is making this impossible. Users are getting frustrated with the unexpected delays, even going as far as boycotting Cryptsy altogether.
cryptsy

“I have already taken all the coins I could OFF of Cryptsy and when I get these back(should EVENTUALLY) I am bailing on them 100%. I’m enthusiastic about the cryptocurrency movement but as an educated businessman, the quality of service in this ‘industry’, particularly with exchanges, has got to be near-perfect at all times or the whole thing will not be taken seriously by the mainstream. Exchange and transfer failure are intolerable in an exchange infrastructure.”

With the price of Doge surging upward, investors are losing a ton of money while their coins are being held somewhere in cyberspace. Although Cryptsy has a ticket system for any complaints or issues that may arise while using their service, staff have been seemingly slow to reply and offer little desire to control the situation.

For now, we recommend  avoiding Cryptsy all together, and using other exchange services such as Coinmarket.io or Coined Up.

Is It Still Worth It To Mine Bitcoin?

In the digital world, 2013 was known as the year of the Bitcoin. Bitcoin could’ve been purchased in the beginning of the year for as little as $40. Throughout the year, awareness for the digital currency rose, and skyrocketed in price, reaching over $1200 at it’s highest point.

While the awareness brought a huge increase in the price of Bitcoin, it also brought in a huge influx of new Bitcoin miners, including some people who have spent tens of thousands of dollars on Bitcoin mining machines. But what does that leave for us? Is it still profitable for new people without a huge budget to mine Bitcoin? [Read more...]

Feburary 2014: What Cryptocurrencies Should You Mine And Invest Right Now?

It is an absolutely crazy time for a miner right now. Early February has seen a crazy amount of events happening, causing careful decisions to be made for people looking to mine for maximum profit. There are a few different coins that would be really good to mine right now, and here’s why.

1. Dogecoin

Dogecoin Reward

Anyone who’s been involved in the cryptocurrency world knows that Dogecoin has gained extreme popularity, extremely quickly. The ‘joke’ currency has grown up and proved all of its doubters wrong. While it has gained a ton of value from what it originally started at, the value is expected to jump even more in a few days. Why? The reward for finding a Dogecoin block is about to be halved, meaning only half as many coins will be generated as there is now. A lower amount of supply will push prices of Dogecoin up even further than they are right now.

2. Noblecoin

Noblecoin Marketplace

Noblecoin has gotten an insane amount of attention the past few days. Not only has it been finally placed on CoinMarketCap, but a Noblecoin marketplace has been announced and will be open on February 11th. On top of this, Noblecoin has received quite a bit of media coverage for donating to various charities. With rumors of Noblecoin being added to Cryptsy soon, there is nowhere Noblecoin is going to go but up. I’d invest as soon as you can (money or hashpower!)

3. Mintcoin

Mintcoin

Mintcoin is an all new, innovative coin which is designed to save power by only allowing mining for the first five weeks. It works like this – for the first five weeks after it has launched, it is mineable just like any other coin you know. Each week, the reward for finding a Mintcoin block is halved. After five weeks, coins are generated in a completely new way. Rather than mining coins to generate them, Mintcoin uses an algorithm called proof of stake. You will get interest based on the number of coins you currently own, and that interest will be added to your total. Mintcoin works in a similar way to stocks that pay dividends. Some companies will use the dividends to buy the stock holder more shares in the company. Mintcoin works exactly the same way.

So which coin should you focus on mining? That’s entirely up to you. Stick to mining one of these three, and you’re almost guaranteed a nice return on investment.

Welcome To Class!

Welcome to Crypto Classroom, soon to be the #1 site for everything involving Cryptocurrencies! We have a lot of big plans for the website to eventually transform it into the number one website for anything cryptocurrency-related. We plan on covering many different topics, including, but not limited to:

  • Cryptocurrency news – keeping you up to date with all the latest news regarding cryptocurrencies. This includes the announcement of new coins that show potential.
  • Cryptocurrency analysis – want to know why the price of a coin is rising or falling? Why one coin shows promise or why it does not? We plan on analyzing all current issues and topics regarding cryptocoins.
  • Cryptocurrency investing – Want to know if a coin is worth investing in? Want to know if a price of a specific coin is expected to rise or fall? We will cover all of this and more to ensure investing in cryptocurrencies is as profitable as possible for you.
  • Cryptocurrency mining – What coin should you mine right now? Which pool is best for you? We’ll cover it all.
  • Cryptocurrency rumors – what’s going on with such-and-such coin? Crypto Classroom will keep you up to date with all the various cryptocurrency rumors.
  • Cryptocurrency tutorials – new to cryptocurrencies? Want to learn how to mine or invest in cryptocurrencies? We’ll teach you everything you’d ever want to know.
  • Discussing Cryptocurrency – we will discuss any aspect of Cryptocurrency that seems interesting at the time. If the website becomes popular enough, we will also open up a forum.

And of course, the list doesn’t end here. We are willing to cover absolutely anything regarding cryptocurrency. If you ever have a suggestion for an article, feel free to contact us. We look forward to making this website into a valuable resource for everyone interested in the future of currency.