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It has been about two months, hedge fund billionaire Michael Novogratz thru a brave announcement, he’d put 10% of his net wealth into cryptocurrencies with Bitcoin and Ethereum. But a very much could happen in a few days like the worth of Bitcoin has more than doubled, and the worth of Ethereum has increased six-fold.

So, around the time digital currencies touched all-time high earlier in June, by hitting the price of Bitcoin to $3000, and the worth of Ethereum breaking $400 these days. Novogratz believed that the recent crypto boom had topped out. He sold a lot of his digital coins.

Image Credits: newsbtc.com

“I sense the market had a great run, and trees don’t raise to the sky,” Novogratz spoke this week, talking at CBInsights’ in New York, “I have a lot fewer coins, they just value more,” Novogratz added.

Some days after setting highest, the price of Bitcoin and Ethereum fall down about 25% in just 24 hours, and Ethereum is still on falling.

Digital Currency dealers have become adapted to their prices aggressively doing push and pull, up and down in waves.  A 30% fall in the Bitcoin worth in May headed its current highest by about two weeks, but the recent downdraft seems more constant. However, the digital currency entrenched in a technology system identified as the blockchain, have individually since improved some of their losses, they have to drive anywhere near to their high.

Now, investment groups are investing in blockchain companies. They think that the digital currencies have peaked for some time, and it can be a while before they come back to the highest level. Novogratz still has a firm stance on cryptocurrencies and their performance in the longer run. The only thing he is waiting for is the right purchase time so he can start from where he left off.

Eventually, Novogratz has faith that there will be a time when stockholders are recovering off getting out of digital currencies entirely, However, it is almost a long way off. Novogratz predicted that “I think that Bitcoin, Blockchain, Ethereum, and ICO revolution is leading us to the single extreme bubble of our lifetime”. No doubt, when that bubble pops, it is possibly a perfect time to buy back in.

Story Credit: fortune.com

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What Are the Top 5 Myths About Bitcoin – Are They True?

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Myths About Bitcoin

It’s been over 8 years since the bitcoin first came into circulation. However, the general public and press are still confused as to what is Bitcoin and how to use it. The result of this is numerous myths about the currency.

Bitcoin is a digital currency. It’s different from traditional money in many ways, due to which it is often considered to be a difficult subject to grasp because it requires a basic understanding of many different areas of study such as cryptography, economics, and computer science.

In this post, we have discussed five popular myths about Bitcoin that still spark a debate in 2017.

Is Bitcoin Anonymous:

In spite of the fact that Bitcoin is regularly referred to as the currency to make anonymous transactions, the correct word to use would be “pseudonymous”. Meaning that a user can have one or multiple identifiable addresses. However, nobody essentially knows who is behind each address.

With Bitcoin, each transaction is stored on a public ledger and anyone can view this ledger on Blockchain. This ultimately makes the transactions more transparent for the users.

It’s Used by Terrorists:

Our media has completely ruined the image of Bitcoin. Whenever the currency is brought up in a television show or movies, it’s almost always being used by some kind of serious criminal or terrorist.

Although the user anonymity may account for some illegal transactions, there is no confirmation of terrorists using Bitcoin on a noteworthy scale.

The Currency Is Dead:

One of the most common myths about Bitcoin is that it’s dead or no longer in use.

In reality, Bitcoin is currently going through its most successful phase in history – at least according to the number of daily transactions on the network, which keeps on growing each day.

At the time of writing, one bitcoin was worth $1095.

Think the currency is dead? Think again!

It’s 100% Transparent:

Another myth about Bitcoin is that it’s completely transparent. But this is absolutely not true.

The true identities of bitcoin users – be it individuals or an organization – are kept secret and never publicized.

Also, there are several privacy-enhancing-services, for example, JoinMarket, which permit clients to upgrade their security on the blockchain.

If someone asks what is bitcoin, the perfect description would be: it’s not completely transparent nor anonymous. It’s somewhere in between the two extremes.

Bitcoin Is Useless Due to Its High Volatility:

Because of high instability in value, Bitcoin is frequently thought to be useless by a majority of the population. While Bitcoin has had a significant volatile history, the currency has undoubtedly been moving towards stability since the mining of first blocks in 2009.

Having said that, relatively few individuals are attempting to utilize Bitcoin as a unit of account at this point. It is rather viewed as a store of value by those who hold it.

Conclusion:

These are some common myths about Bitcoin. If you go into the market and dig up the details, you will realize that most of them are completely false and has no solid base to stand on.

In all, Bitcoin is a safe currency. The use of it increasing each day as several corporations, banks, retail stores, and outlets are starting to accept Bitcoin as a payment. This, as a result, has seen an ultimate rise in the value of the currency.

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Bitcoin could reach $5 trillion

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28 June 2017, well-known investor Michael Novogratz states that 10% of his money is in bitcoin and Ether platform. His prediction about the digital currencies value is up to $5 trillion in five years. It is depending on the adoption stamina of an industry.

Now, we are at the departure position because Nasdaq got $5.4 trillion in 1999 and poured it into space. pay your taxes on your own because nobody pays such taxes in that space. This system is establishing because of the revolutionary

Spirit.

Meanwhile, companies get furious to obtain this value. For that purpose, companies need to develop their business and start working on new project which has the ability to satisfy the regulators. But, at this time bitcoin is not in the position to correct street by the black market as well as hackers.

A few days ago, digital currency took reputational collapse because of the cyber-attack.

With 140% gained during a year, Bitcoin is the prime cryptocurrency with $2547 trading value. Whereas, ether’s value is $240 this year.

Accordingly, market cap data, ether’s market cap is $28,589,831,650 while bitcoin reaches to $41,973,033,307.

Novogratz enjoying the profit gained from these digital currencies. He wants to invest more than 10% of his money in the digital platform.

Goodluck!

 

 

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How to Earn BitCoins Fast and Easy

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Bitcoin is getting more and more popular each day. In 2011, you needed to write to a man from another country to order a pizza for you with Bitcoins, but now you can do things similar to that in various major cities. In a few countries like the Netherlands, the whole towns are Bitcoin-accommodating, (for example, Arnhem, regularly called ‘the Bitcoin city’).

This growing popularity of Bitcoin has caught attention of many people, and thus we see so many people asking how to earn bitcoin.

The best and easiest way to earn Bitcoin is through mining. There are several mining pool which one can join in order to earn their own bitcoin. Apart from that, it can also be earned through carrying out certain tasks, or accepting bitcoin payments if you own a business. In short, Bitcoin can be earned in as many ways as real money. So, next time someone asks how to earn bitcoins, you know what to tell them.

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Bithumb Partners with BitPay – What Does Sonny Singh have to say about it?

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Bithumb, which is the largest cryptocurrency exchange of South Korea has joined with BitPay. On 13th March, it was announced by an executive, that the main purpose of this partnership is to compete in the global remittance market. As the major South Korea Exchange Bithumb merges with BitPay, there’s no doubt that it’s going to impact the crypto-market.

Chief commercial officer of BitPay, Sonny Singh noted while talking to CNBC, that now the businesses will have the ability to change invoices to Bitcoin and utilize BitPay for settling them more economically and faster than the ordinary bank-based remittance networks.

south korea exchange

What does Sonny Singh have to say about this partnership?

Sonny Singh told the network;

“Cross-border payments between Korea and the West will be a $200 bln industry this year”

Singh continued by saying;

“Right now, people are doing cross-border payments […] and paying bank wires, FX fees around 4% and it takes about four days. Using Bithumb and BitPay, we’re able to make this a 1% fee in one business day”

A chain of regulations on crypto-markets has been introduced by South Korea, since December 2017, for banning unidentified trading, foreign use of local exchanges, local ICOs, and in addition to that, banning all the government officials from trading and holding cryptocurrencies. Even with such massive trading volumes, South Korea is still an ambiguous market for cryptocurrency users and businesses.

Singh also confirmed that BitPay is on its way to process $4 billion worth of payments this year and is disconcerted by the potential for regulatory disruption.

Singh said;

“We welcome regulation.”

Later, he continued by saying;

“So, I think all the Korean exchanges like Bithumb — they welcome regulations too. We make sure they do proper AML/KYC checks.”

At the beginning of this month, it was announced by the South Korean bank, named “Woori Bank,” that its aim is to start commercialized cross-border payments by using Ripple. According to a report, Bithumb still continues to grow consumer-awareness of cryptocurrency within the country, South Korea, by familiarizing payment terminals to restaurants as well.

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Bitcoin TUTORIAL – How to get a wallet and your first bit coins

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