It comes as the coin is gaining some popularity, especially since it was introduced and listed on leading currency site Coin base, which could raise the current price. While the price could continue to go up, some analysts say it’s highly unlikely it will ever reach the $1 mark as it can't compete with rival Dogecoin.
A Brief History of Shiba
This upcoming altcoin is based on the Bitcoin protocol and has the same coins, but some have a fixed number in them. In this case, there is an unlimited amount of Shiba coins available. Shiba.Tech’s CEO Gert-Jan ‘Snip’ Peeters said he sees some potential in Shiba since they can provide more choices to the users and also provide them with better value when compared to the other smaller alternative coins. Peeters said: “We see this coin as a good option for those looking for an alternative, liquid means of exchanging bitcoin. I think Shiba can be as popular as Dogecoin.” The project, he said, started as a suggestion from one of his friends, who wanted an alternative to Dogecoin, which is pretty popular among young kids.
What are the benefits of Shiba?
Is one Shiba cheaper than a Dogecoin? Dogecoin Multiply its supply by 1. The Shiba, however, has a limited supply and is valued in the currency unit. Can be mined at the same time as Bitcoin, The Shiba does not have a limited supply, but is a bit harder to mine. You can buy Shiba on Finance Exchange Potential to increase in popularity and acceptance. The Shiba coin has a regular scarcity of a Proof of Work mining process that involves using specialized computer hardware and a large amount of computing power. Is it Illegal? Technically speaking, Shiba doesn't have any exchanges, and is not a regulated currency. Cryptocurrency is not illegal in Japan, though some coins have been banned or challenged by the government. How much do they cost?
How does Shiba work?
The main features of the coin is its monthly interest rate of 6%. Even the highest interest rate offered on a Dogecoin exchange is 0.00011%. For a $10 Shiba coin, which is currently around $0.94, people can earn $6 every month. The interest rate will be 0.0005% if they hold a Shiba for a month. The coins are available at the following exchanges: ShibaGO, Bittrex, and Coinfund.com. The coins will be traded for BTC, USD, and EUR. What are the investment opportunities? The site also runs an ICO through April 25th, where 100,000 of the coins (new issue) will be released for purchase. Currently the coin is ranked the 95th most traded coin on the major crypto-exchanges. Some investment opportunities are simple like a Shiba shirt, worth $10 or a Shiba statue which costs $40.
What are the disadvantages of Shiba?
The biggest disadvantage is that Shiba requires electricity, which is a big problem for users in Africa and the rest of the developing world. The large difficulty of mining is another issue. Some say the amount of coins to be released in each Shiba is too small to attract new miners, also according to some, the current transaction fees are too high for bitcoin. To answer to the argument raised, Abiodun Agunbiade, founder of South African-based startup wallet Shiba , claims that "there is only one resource behind bitcoin and that is real human intelligence. However, that resource isn't free and there is no free lunch. Agnbiade explained, "In order to sustain a healthy and growing network of nodes, which runs the protocol, you need resources.
Conclusion
While the price could drop at any time, the block size remains a major issue that could hinder the potential growth.
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