Monday, April 7, 2014

Market Update April 07, 2014 20:58 (LTC down 0.36% to $11.2)

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Bitcoin is currently up $1.32 (0.3%) in trading against the dollar today at $445.    A quick review of Bitcoin historical prices show that BTC has closed higher than this price 27 of the last 30 days.  Bitcoin has been as high as $641.5 and as low as $410 over the prior 30 days.  BTC has been up as much as $4.66 today and down as much as $2.9 today so there is the potential for good news in coming inter-day trading.

 

Bitcoin's momentum was not enough to bolster Litecoin trading.  Litecoin is currently trading at $11.2 per coin.  This price is 0.4% lower than yesterday's close price, this pullback comes after a recent 1% run up in price with prices topping out at $21.  Interday trading has seen prices as high as $11.33 and as low as $11.06.

 

In Alt news PhilosopherStone is up 40% to $0.07, TekCoin is up 28.57% to $0.09, AuroraCoin is down 11.11% to $1.60 and Netcoin is up 123.08% to $0.

 

Like Bitcion, Tekcoin is a peer-to-peer Internet currency that enables instant payments to anyone in the world. It is based on the Bitcoin protocol but differs from Bitcoin in that it can be efficiently mined with consumer-grade hardware. Tekcoin provides faster transaction confirmations (2.5 minutes on average) and uses a memory-hard, scrypt-based mining proof-of-work algorithm to target the regular computers and GPUs most people already have. The Tekcoin network is scheduled to produce 84 million currency units. One of the aims of Tekcoin was to provide a mining algorithm that could run at the same time, on the same hardware used to mine bitcoins. Auroracoin is a cryptocurrency launched in February 2014 as an Icelandic alternative to Bitcoin and the Icelandic króna.  Its unknown creator or creators use the pseudonym Baldur Friggjar Óðinsson (or Odinsson) who has stated that he/she/they plan to distribute half of auroracoins that will ever be created to all 330,000 people listed in Iceland's national ID database beginning on March 25, 2013, free of charge.  Auroracoin was created as an alternative currency to address the government restrictions on Iceland's króna, in place since 2008, which severely restricts movement of the currency outside of the country.


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