Logo of the orbitcoin repeated 3 times

Top 3 reasons why I chose the Orbitcoin

In this coin jungle, it is often hard to understand the true value of a new cryptocurrency. Most of the time, one has to wait for the markets reaction towards a particular currency to invest, dump and/or forget it.

Today I would like to write down the top 3 reasons why I chose to invest in the Orbitcoin before its endorsment by the markets (wich is happening today anyway). Let’s go !

 

  1. The Orbitcoin generates interests from my holdings.

    Unlike the Bitcoin, Ripple, or the Litecoin, the Orbitcoin uses a system (called proof of stake or POS) that will generate new coins on its own. All I have to do is to keep my wallet running on my computer, helping to confirm people’s transactions and securing the network health, to be rewarded with new coins. As an example, one of my account holding roughly 4 000 ORBs returned 12.5% (almost 500 ORBs) over the past four monthes. And I am even far from reaching the best return rates for this coin…

  2. The Orbitcoin doesn’t require a lot of energy.

    I care about the world ressources, and even if we can’t be sure about how much the bitcoin draws from the world’s power grids, we know it’s a lot. Even if renewable energy is sometimes used by bitcoin mining farms, this is only rarely the case and fossil-fuel power stations are still the main electricty providers for bitcoin mining and the bitcoin network. I believe that a balance can be found between using a cryptocurrency and not burning all the remaining earth ressources. I have found that the Orbitcoin was offering a solution to this problem in two ways. First, it uses an low power consumption algorithm to be minted (NeoScrypt, a further development of the Scrypt algorithm wich requires less power than SHA256, used for Bitcoins). This means that if all Bitcoins miners were instead Orbitcoin miners, much less electrical power would be spent for the same result. Second, the NeoScrypt algorithm is designed to be ASIC-resistant, therefore it would be difficult and costly to build huge mining farms hogging the electrical consumption of thousands of US homes on their own.

  3. The Orbitcoin community is active.

    Since anybody can launch a new crypto coin, thousands of coins were created every year, hundreds of them made their way to an exchange market and dozens vanished every monthes. The Orbitcoin was founded in july 2013. The reason it is still going on after two years of existence, explaining why its value already rose higher than some FIAT currencies (russian ruble, indian rupee, etc.) is that the Orbitcoin is supported by free individuals developping their own projects around the coin, forming a kind of open-source startup. This active community is the reflect of the coin’s good health, and in my opinion a promising indicator for the forthcoming years.


Posted in News, Orbitcoin and tagged .

David N. Brett

Creative Swiss Knife with a strong DIY culture, Dave can't stop building new things. Involved in crypto-currencies communities as PR specialist and mining pools operator, he's eager to share his views and knowledge of the crypto world.

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