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DigixDAO [DGD] the only token in the Top 25 to lose value in double digits!

Santhosh M

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DGD falls in the market
Source: MaxPixel

DigixDAO [DGD], a token that relates to the trading of a real-time entity of gold and virtual currency, fell more than 12% in the past 24 hours and is currently trading at $443. The coin has even dipped to the 26th rank from its previous 25th rank on Coinmarketcap.

DGD has generally been a safe coin for all investors to invest because the coin trades out gold for virtual money and is highly dependent on the gold market and not on the crypto-market. The coin even had an average of 3% growth in the market value on a daily basis even when the past week was sloppy for huge cryptocurrencies like Ethereum which encountered a 32% fall.

The sudden fall in the value of DGD might be because the value of gold dropped on the market with a spot change of $0.14 approx. in the USA. This, in turn, lead to a huge drop in the value of DGD from $500 to $443, and took many investors by surprise as the value of gold has always been increasing.

Jack Williamette, a NANO investor says,

“No coin is safe in the market, honey. But, this coin might come up way faster than any other coin since its running on the gold market and gold never gets old but only costlier.”

Kishan Vasudevan, a gold market expert says,



“Yes, gold market usually doesn’t fall much and is much safer when compared to other markets. Even if it falls, it doesn’t take a lot of time for it come back up again and when it does, it’s double the value of what it was.”

All the investors and crypto-experts believe that this fall is just temporary as the price of gold doesn’t drop very often. Market experts feel this is the right time to buy the coin for the purpose of short selling to see a marginal profit.

Analyzing the performance of the coin over the month, the fall of more than 11% might have left all the investors ‘shook’ but DigixDAO was one the few coins that were on a steady rise when all the other cryptocurrencies had decided to reside in the bearish market.





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Santhosh is a full-time reporter at AMBCrypto. He is an engineer with a major in Mathematics and Computer Science. He developed a key interest in the blockchain space and has been studying and researching about it ever since. He is currently authoring a book on Blockchain and its use cases in the Education domain. He currently does not hold any value in any cryptocurrency or its projects.

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Bitcoin

Bitcoin’s [BTC] biggest threat is its users, not governments, says Bitcoin.org’s Cobra

Febin Jose

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Bitcoin’s [BTC] biggest threat is its users, not governments, says Bitcoin.org’s Cobra
Source: Pixabay

Bitcoin [BTC], the world’s largest cryptocurrency, saw a significant surge earlier this month, helping the coin break strong resistance at $5,000 and $5,200. Following the great fall of the king coin in early 2018, the Bitcoin ecosystem was struggling with scalability and technological issues, eventually leading to the hard fork.

Bitcoin.org’s Cobra, who is also the co-owner of Bitcointalk.org, has always maintained that Bitcoin was the cryptocurrency to look out for through his various Twitter bouts with prominent personalities in the cryptoverse. Due to his strong, unbridled support for Bitcoin, he has often trashed altcoins for their low market dominance.

In a new Twitter thread, Cobra spoke about the “biggest threat” to the Bitcoin ecosystem. Even though many crypto-enthusiasts believe that governments and technological issues were the biggest threats to the king coin, Cobra had a completely different opinion.

According to the Bitcoin maximalist, users have the potential to signal Bitcoin’s doom. His tweet read,

Source: Twitter

Source: Twitter

Though most Bitcoin supporters usually support his opinions, this tweet was met with a lot of resistance. Twitterati swarmed the thread in an attempt to prove him wrong. A user named @MrHodl alleged that this could not be true as Bitcoin had “no community.” He added that this, in turn, prevented toxicity in the ecosystem.

Cobra replied to the tweet stating,



“I think there is a community, it’s just not fully representative of everyone with a stake in Bitcoin. Most holders are quiet and not too familiar with what’s going on. There’s people with 1000+ BTC and they don’t engage at all with discussion platforms, just lurk.”

Some Twitter users took it as an attack on Bitcoin investors and opposed Cobra’s stance. A user @CarstenBKK commented,

“Maybe I am lost in translation. What do you wanna tell us? That you are part of Bitcoin network of people owning/using it, but you are just disgusted by the idea, that the network is called community in the sense of direct human collaboration and affection to the groups ideals?”

Previously, Cobra had accused Twitter’s Jack Dorsey and Square Crypto of pandering to Bitcoin users, while also suggesting that the crypto project was merely a way to bring in more users for Dorsey’s CashApp. His tweet read,

“Gotta respect how hard @sqcrypto is pandering to Bitcoiners. Very clever how @Jack has embedded himself in the community; in return the community promotes @CashApp, which gives that service a small but dedicated and activist group of early users.”





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