HackMiami Cryptomarket Analysis Proven Correct: Litecoin More than Doubles the Price of Silver, Bitcoin Nearly Matches Price of Gold

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Globalized regional instability, economic uncertainty, and mainstream news coverage has brought the concept of cryptocurrency into public discussion. The global free market has responded with enthusiasm and optimism, as indicated by potentially temporary bullish upswings in market prices.

Market capitalizations as of 11/29/13  via CoinMarketCap

Market capitalizations as of 11/29/13 via CoinMarketCap

The current market situation could very well be a bubble warned [an] event sponsor, “What goes up, comes down."

As of the time of writing, the price for Bitcoin and Litecoin has followed the pattern predicted in the conclusion of the recent HackMiami whitepaper, ‘Analysis of the Cryptocurrency Marketplace.’ BTC/LTC mining difficulty rates have shifted significantly due to a proliferation of ASIC mining hardware, and GPU miners have shifted into alternative cryptocurrencies, primarily Litecoin. As a result, at the time of writing the price of Bitcoin has risen to over $1000 USD and Litecoin topped $40 USD as per MtGox.com and BTC-e.com exchange platforms. Current market rates report gold at $1241 USD per ounce and silver at $19.69 per ounce, as per Kitco.com prices.

As the difficulty rates and value increase for both Bitcoin and Litecoin, new alternative cryptocurrencies (altcoins) continue to appear on the market. One promising altcoin that has emerged is PrimeCoin (XPM), which seems to exist for the sole purpose of commodities arbitrage. The unique aspect of this particular cryptocommodity is the protocol is designed to only make use of CPU resources for mining, moving away from computationally intensive hardware requirements such as ASIC to a more simplistic lightweight alternative. This emergence opens up the opportunities for mining and trading among a demographic that may not have mass quantities of computational power available, yet still wish to participate in new emerging economies.

About HackMiami Cryptocurrency Marketplace Analysis

HackMiami cryptoeconomists keep close watch over cryptocurrency fluctuations within global financial markets. Analysts track trends, trading patterns, and orderbook intelligence that indicate potential movements within the aggregate marketplace. These alternative marketplaces are tracked and able to provide intelligence related to global arbitrage trading opportunities that were previously technologically impossible, and very conceptually advanced.

HackMiami prides itself in putting itself at the forefront of emerging technologies, and has put together the Bitcoin Intelligence service, located at http://www.bitcoinintel.com.

This project will track aggregate market movements that are customized to the demands of the user, in order to provide the most up-to-date open source intelligence and trends related to various cryptocurrency marketplaces.

A comprehensive understanding of this new ecosystem while having instant access to aggregated cryptocurrency market intelligence has resulted in independent successes of several friends of HackMiami cryptocurrency analysts. Some of these independent sponsors have shown their appreciation to HackMiami, and more importantly, those who are fans of HackMiami work, in the form of round trip airfare giveaways to the Winter Hacker Festival and concert sponsorship. Event organizers have slashed admission ticket prices as of Black Friday 11/29/2013 and Cyber Monday, 12/2/2013, as a result of the generosity of the information security community and their cumulatively wise investment strategies.

“When I got those first bulk shipments of 7950 GPU’s,” stated one Anonymous sponsor, “some of my supposed friends and prospective business partners doubted the rationality of the decision.” Another event sponsor interjected with the remarks, “Now we ridin’ 22 inch spinners from those 2 inch GPU fans. #LOLMONEY.” The event sponsor actually said 'hashtag' before 'LOLMONEY,' and then began to rap, in freestyle form, about a recent spate good luck, quick riches, and the potential dangers of pride and reckless spending habits.

"The current market situation could very well be a bubble," warned the freestyling event sponsor, “What goes up, must come down."

About the 2013 Winter Hacker Festival

The HackMiami 2013 Winter Hacker Festival will take place December 7, 2013 at Beaches Bar and Grill in Miami Beach, FL. The festival seeks to bring together the brightest minds within the information security industry and the digital underground for two days of exclusive hacker training, an intense Kommand and Kontroll ‘capture-the-flag’ hacking tournament, and a live concert with some of the best underground internet hip-hop the internet has to offer. The evening concert that follows the K&&K hacking tournament will feature live performances by YTCracker, Dual Core, Project Pat, and Lil Wyte. Doors open at noon for the K&&K CTF tournament.

About HackMiami

HackMiami is the premier resource in South Florida for information security services such as vulnerability assessments, penetration tests, training seminars, and Capture the Flag ‘CTF’ hacking tournaments. These security tests focus on HTML5, mobile applications, PHP framework assessment, source code analysis, and backend webservices and API review.

HackMiami is made up of experienced information security professionals that have years of experience working with large corporations, governments, and small businesses. Members of HackMiami are on the cutting edge of vulnerability research and regularly present at local information security group meetings and international hacking conferences.

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