View: 431
Want create site? Find Free WordPress Themes and plugins.

Marc Kenigsberg, The CEO of JamWorx states that the Recent drop in the Bitcoin price is a slight retreat from the highs of 2017. In Kenigsberg’s views, there are two main factors which are causing to reduce the value at the moment: Some of the speculative money invested in the last few months by some external investors have reserved off the tables as profits.
The market is still behaving to Bitmain’s threat strategies and the threat of a possible hard fork as a reprisal for UASF.
Bitcoin is ultimately almost 150% YTD and I’m not worried at all. Obviously, the basics are strong and the demand for Bitcoin is increasing.

Image Credits: coinjournal.net

What Is the Best Time to Buy More Bitcoin?

Marc also describes that the merchant adoption for Bitcoin is at all-time high and the ecosystem is analyzing record amount of everyday transactions.

Furthermore, an extensive interest is in Bitcoin as a way of payment and there is a fundamental understanding of what it can do.

Marc also explained that if more merchants will accept Bitcoin, then more people will use it and more people will want to get it than ever before. The increased price of Bitcoin is a correction of the aspects that underestimated the price of Bitcoin.

He also advised the community that not to sell Bitcoin and hold them since the price of Bitcoin will surely go high soon.

He further recommended as now is the best time to buy more for everyone that can. From his thinking, a price tag of $2500 may seem an expensive to people today, but it is going to look cheap in a year from now.

Did Speculation Push the Price of Bitcoin?

Marc disagreed that the last price rally of Bitcoin was just because of the speculation. Moreover, he explained that there is a speculation in almost every currency of market but it was not the key factor to increase the price. He also described that the increased price has been the main catalyst for the speculation.

He believes that the world is going to accept and understand Bitcoin as an effective payment method and this is the point which is driving the price up.

Story Credits: Cointelegraph.com

Did you find apk for android? You can find new Free Android Games and apps.

Leave a Reply

Type Comments Here

Your email address will not be published.

Share Your Toughts

View: 431

How To Make A BitCoin Payment Using An Online Wallet Service

Want create site? Find Free WordPress Themes and plugins.

Did you find apk for android? You can find new Free Android Games and apps.
View: 456

Bitcoin Mining – Step by Step Explained

Want create site? Find Free WordPress Themes and plugins.

Bitcoin Mining Explained Step by Step

The majority of people nowadays have a clear idea as to what is Bitcoin and how does it work. For those who haven’t heard of it before: Bitcoin is a digital, decentralized, peer to peer currency. Bitcoin mining setup is same as traditional currency. The only difference is that it is not tied to a particular country. Yes, anyone, anywhere can use Bitcoin and make transactions without any legal obligations.

Unlike the traditional currency, Bitcoin is not regulated by a third party (government, the central bank, etc.) and only exist in the form of numbers in highly secured computers.

If you want to earn cryptocurrency, you cannot do it the traditional way.

Bitcoin mining explained

The only way to generate bitcoin is a process called Bitcoin mining.

In bitcoin mining, miners from all across the world connect with each other through the internet to form groups. Each group is asked to solve some mathematical algorithm. Those who are able to solve these problems are then rewarded with 25 coins for their successful efforts.

Is It Possible to Do Mining from Home?

Yes, it is. For starters, it will seem intricate and you’d need a little guidance to familiarize with it. Once you get used to it, it’s as easy as ABC.

for beginners, there are several visual mining programs to help them get familiarized. Find one if you are having troubles in understanding the process.

What Do You Need to Start Mining?

Before you could start mining, you must have the following equipment:

  • Bitcoin wallet address. Having a wallet is necessary as it is used to store the coins and keeps track of your money
  • A mining software. There are numerous mining programs out there. But if coding is not one of your strong attributes, go for a GUI version.
  • A powerful computer to support the software
  • Electricity because your computer needs to be up and running 24/7
  • Internet connection (most of us already have it, but if you don’t, do it right now to start mining)

Learn how to setup a Bitcoin miner here.

Is Bitcoin Mining Profitable?

The work required to mine bitcoins increases and becomes harder over time. If you are using a less powerful computer, it might even take you years – let’s say, 10 to earn only one lot of 25 bitcoins.

At the time of writing, the worth of one bitcoin was $1096. Multiplying it with 25, we get $27,400 which is approximately $2,740 per year. Now if you compare the electricity bills and other costs, you will realize that the amount is pretty low.

So, the question is, how do miners make money through bitcoins?

To generate larger sums of money, the process needs to be faster and this is the main reason as to why miners work in the form groups. The more people in a group, the faster the mining.

However, if you are keen on working alone, then you will need to have enough financial power to buy thousands of low-power consuming; mining computers. This would make the process a lot faster.

Good luck with your venture!

Tags: How to setup a bitcoin miner

Did you find apk for android? You can find new Free Android Games and apps.
View: 573

Bitcoin Future — What Will Happen When There’ll Be No Bitcoin to Mine?

Want create site? Find Free WordPress Themes and plugins.

In the month of April 2018, 17 millionth Bitcoin was mined. But why this number is significant? Well, only four million tokens are left to mine. Bitcoin’s blockchain protocol is what makes Bitcoin mining a bit difficult, and the Bitcoin reward for mining a block also splits every 210,000 blocks. As seen, 12.5 BTC reward is received by the miners for unlocking a new block.

future of bitcoin mining

Mining of the Last Bitcoin

At this time, miners are deeply encouraged to mine so that they can get gradually more treasured Bitcoin tokens as a reward — before the supply reaches the capacity. However, when 21 million market cap is hit, there won’t be any Bitcoin rewards for miners. Though, transactions will be still required to get validated and stored on blocks, so that miners can profit from the transaction fees.

Segwit

  • Last year, the issue of scalability – block capacity – transaction costs showed up.
  • 1MB size limit for blocks was implemented by Nakamoto for halting miners making bigger blocks that were expected to be excluded from the network, as it could cause the blockchain to split.
  • At that time, the limit was big enough because of the small number of transactions. However, apprehensions that elevated were ultimately comprehended as Bitcoin advanced in popularity.
  • Ultimately, Bitcoin Core developers came up with a solution under the name “Segregated Witness,” which is more commonly known as SegWit.
  • Fundamentally, Segwit splits non-signature data from signature data of all transactions — significantly reduces transaction sizes that are stored on a block.
  • Moreover, it cancels out transaction flexibility by eliminating signatures from transaction data, paving the way for ‘Lightning Network’ incorporation.

Eventually, Segwit was implemented in August 2017, as a foremost stakeholder from the major Bitcoin mining pools and Bitcoin companies – for a solution to high transactions fees instigated by an accumulation due to the block size limits.

Core warning — the implementation of Segwit was possible because of the consent of the Bitcoin community. Even though there were huge concerns such as the inadequacies of Segwit2X, the community was divided up and the change was certainly not implemented.

  • Since August 2017, the implementation of Segwit has been slow across the global network. However, Bitfinex and Coinbase only presented the alteration in February 2018.
  • The launch matched with reducing the transaction fees – a testament to the envisioned outcome of Segwit incorporation.

future of bitcoin mining
Lightning Network

  • SegWit’s implementation laid the foundation for second layer solutions as well, in order to improve the network of Bitcoin.
  • The most projected one is the Lightning Network – it will do the same as the SegWit – though on a grander scale.
  • In terms of layman, the Lightning Network lets users excavate many payment channels amid themselves – off the Bitcoin blockchain.
  • The channel is going to be opened and recorded on the blockchain, though transactions will be made “off chain” till the payment channel is closed.
  • Basically, Bitcoin is deposited in this channel by users, so that they could make transactions by transferring potential of possession to each other.
  • When they plan to close the channel, users take their part of the total sum – the ownership of those sums is recorded on the blockchain.

This second layer solution matters a lot, as it will significantly upsurge the speed of transactions and the whole network. But if we talk about the future of bitcoin mining, this does stance few interesting questions for miners in the upcoming time. Once all 21 million Bitcoin have been mined – transaction fees would be the one and only incentive for miners. If the Lightning Network is completely integrated by that time, there’d be quite fewer transactions being recorded per-day. This could at the same time affect the amount of money that miners will be getting from transactions. Though, if we look 100 years from now, it is expected that all of these issues will have been solved by the wider crypto-community and Bitcoin Core developers.

Did you find apk for android? You can find new Free Android Games and apps.
View: 432
View: 469

Ethereum Hits a New All-time High While Bitcoin Market Share Slips to Below 50 Percent

Want create site? Find Free WordPress Themes and plugins.

Ethereum’s price made the headlines on Tuesday as news of it hitting a new all-time high circulated the web. On the other hand, Bitcoin’s market share dropped below 50 percent for the first time in over a month.

From $19,130 on Monday to $18,191 on Tuesday morning, bitcoin’s price declined by nearly $1000. A 5 percent decline was observed within 24 hours which reduced bitcoin’s market cap to $304.7 billion. While the reason is still unsure, it is observed that the global average bitcoin price has hit $20,000 in several instances unlike the BTC/USD in major exchanges such as Bitfinex and Bitstamp.

Ethereum Takes the Crypto-Verse by A Storm:

As for Ethereum, it had been hovering around $300 for quite some time while Bitcoin was surging. But, the cryptocurrency took December by a storm and ripped the charts by surpassing $800, first touching at $882 then finally settling at $824. Showing a 24-hour gain of 12 percent, with a market cap of $79.5 billion.

Bitcoin Cash Following Closely Behind at $2,500:

Ethereum was not the only altcoin to shine at bitcoin’s fall-out, bitcoin cash price showed an impressive rally of 21 percent. Enabling the altcoin market to rise by $25 million and making their combined valuation to touchdown at $300 billion for the very first time.

By Tuesday morning, bitcoin cash’s price had settled down to $2292 and a $38.7 billion market cap.

In addition, Ripple and Litecoin were also one of the lucky altcoins to benefit from bitcoin’s expense by experiencing an increase of four percent and seven percent respectively. Ripple’s market share now lying at $30.5 billion and Litecoin’s at $18.7 billion.

Surprisingly, besides Bitcoin, the rest of these altcoins had experienced a great rally on Tuesday. While none of them have actually been successful enough to throw off the biggest cryptocurrency, they’re set out to be great competitors.

Did you find apk for android? You can find new Free Android Games and apps.