Titcoin Review: Mining Guide, Price & amp; Analysis of the Titcoin Cryptocurrency

Titcoin's Proof of Work protocol is largely based on Bitcoin. It uses a technologically robust SHA-256 algorithm. As of now Titcoin per block reward is 34.5 (TIT).

Titcoin has a block time of 60 seconds. The hash difficulty retargeting happens after each block is cracked.  The coin's block reward halves every 500,000 blocks. The targeted TIT circulation is 69 million.

Another way of acquiring TIT tokens is through participation in the faucet activities. Users can mine the coin by using block explorer on desktops or downloading wallets on mobile devices.

Price and AMP of Titcoin

Titcoin current price is $0.00027, which is a down of -3.32 % in the last 24 hours. It has a market cap of $17,978.  The all-time high price of Titcoin is $0.069117 which was in January 2018 and the all-time low price is $0.00000331 in September 2019. The 24 hours high/low price is $ 0.00155149/ $0.00039691. The 7 days high/low price is $0.00063675/ $0.00016526.

Titcoin can be obtained from exchanges such as BitSails, Cryptopia, Coingecko, Coinwarz, and Yobit. Its current supply is at 66,263,855.035 and the maximum supply is 69 million.

Analysis of the coin

Titcoin is a cryptocurrency that is Bitcoin-based and aims at revolutionizing online pornography through a decentralized peer-to-peer platform. Titcoin ticker symbol is TIT.

The coin was created in June 2014 by a developer team comprising cryptographic money enthusiasts; Richard Allen, Edward Mansfield, and a third undisclosed person. In September the same year, Patrick McDonnell, a former stockbroker at Wall Street, joined the team as a business development consultant.

The goal of the coin's creation was; to promote the commercialization of pornography, destigmatize amateur pornography creation, promote the adoption of cryptos in adult amusement scenes, encouraging content creators and consumer interaction, and providing a fun crypto entry for newcomers.

The coin, though a soft-fork of Bitcoin, is not an all-purpose currency but exclusively used for anonymized trading in the adult amusement sector. Due to the software modifications on the blockchain, there have been readjustments on network difficult and improved transaction speeds.

Titcoin source code and wallet were released in June 2014. The initial release was a soft launch after which a hard launch for the public followed.

The coin has distinguished itself as an essential player in promoting success and growth in the adult entertainment sector which saw it get two nominations for XBIZ Awards in 2015. In 2016, the coin was nominated again for XBIZ Awards as Alternative Payment Services Company of the Year.

In 2016, Titcoin developers lost 1million TITs to theft, and this caused a stall in the platform's development.

In 2017, the coin experienced a down-turn and had a dwindling market capitalization of $100,000.Joy-Toilet developers took over Titcoin management in May 2017. In September 20128, Tittiecoin developers acquired Titcoin.

This platform allows users to make transactions that are secure, highly discrete, and cheap. Transactions occur in less than 6 minutes. Dealers in this space can utilize several computerized monetary states, coins, and tokens in the platform. Freedom to change coins to preferred fiat currency is given by availing of computerized wallets.

The customized services offered here are used by investors, businesses, adult entertainers, financial specialists, and consumers. Titcoin has liaised with partners such as CoinToPay.com, a cryptographic money dealer for the processing of merchant payment services. It has also partnered with mainstream media outlets like Cosmo, Men's Health Playboy, CNET, Gizmodo, and Vice Magazine.

Titcoin has free digital wallets and crypto exchanges that are tailored to serve traders and investors. With the wallet, users can mine Titcoin and receive them at no fee. Titcoin also has paper wallets that are printable and can be stored as physical proof of ownership.

Titcoin operates on a key principle of privacy and anonymity. Users can transact without giving personal identification information or implicating credit transactions. There are no chargeback fees charged to users on this platform.

There was a controversy that arose over the compulsory upgrade of Titcoin to Tittiecoin as some users claim to not have been aware of the changes while others were allegedly short-changed. Tittiecoin is yet to respond to this.

The new Tittiecoin has a new wallet and its blockchain is POS-built with a Masternode and privacy support.

The advantages of using this platform are privacy, fast, and cheap transaction, and decentralized control.

However, this platform has its challenges that include; a deflationary Titcoin, tracking difficulty, trust problems, lack of scalability due to capping, and lack of adaptability to major economic events.

Our take on Titcoin

Titcoin has brought some tweaks to the erotic entertainment platform and crypto landscapes. Implicating chronicles of installments and exchanges is a put-off to those wishing to participate in grown-ups' entertainment outlets. Titcoin saw this opportunity and pounced on it.

With two accolades to its name, the coin has proven that it is possible to completely achieve discretion in the crypto space. The coin, through its various partnership, has played a key role in cross- promotions, and marketing.

Freedom of coin conversion to fiat currency by this platform is captivating for traders and investors. Anonymity and discretion are guaranteed by the omission of conventional financial data. This is enough enticement to those users who would like to venture into erotic entertainment scenes without staking their reputation. Security of Titcoin is provisioned for by computerized and paper wallets. This is a crucial aspect as no investors would want to trade in a platform where their assets are not protected.

Despite the impression that Titcoin could be propagating nudity and immorality by incentivizing these transactions, the coin seems to be doing well.

However, the fact that the coin is deflationary means that the longevity of this venture is only guaranteed up to the point of mining the last coin in circulation. As much as investors may want to invest here, they should be guided on the duration. Capping of the coin's supply also suppresses scalability in this platform.

Titcoin also has the challenge of trust. As much as anonymizing transactions may seem alluring, it is a good recipe for unscrupulous dealings. There should be a fallback plan if tracking a transaction is required. To compound on this, Titcoin has not responded to the Titcoin holders who claim to have been short-changed during the swap. This could be easily be misconstrued as a lack of accountability on the team's part. Users deem a platform as safe and reliable if there are laid guidelines on how and who to contact if things go wrong. Titcoin should improve in this area.

Final Verdict

The incident in 2016 where the team lost 1 million TITs could be a pointer of a not-so-well fortified blockchain. No updates were given on the team's strategy to avoid a repeat incident, nor were there any upgrades, that we know about, were done. Although the ownership has changed and some security features improved, users should be on high alert.

Merits like security, speed, and anonymity by Titcoin are offered by several other coins and so they are not isolated or unique advantages. However, the platform is a good place to start for those who want a different experience with cryptocurrencies.

For crypto giving users a chance to have fun, trade, and invest, Titcoin deserves credit as this is no mean feat. You can purchase the coin in exchanges like Poloniex.