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Bitcoin miners are intending to support a new upgrade for the Blockchain of Bitcoin which may solve the scaling problem of digital currency. Most of the Bitcoin miners including Bitclub, AntPool, BTC.com, and BitClub have shown their interest to support the Bitcoin improvement proposal (BIP) 91, through adding a piece of code to every single new block of bitcoins they generated. This block needs 80% support to be “locked in” permanently to the blockchain. This will cause a relief as it stops the blockchain splitting into separate two chains, which would create two different coins effectively. Already 66 % of the last 144 blocks provided signal support for it.

According to Coindesk data, Bitcoin has recovered from a tough 8-weeks low of $1863 on Sunday to about $2329 today.

What is the Problem with Bitcoin?

 

Bitcoin has faced a scaling problem for some time, where the number of the transactions occur on the blockchain at one time are limited to 1MB every 10 minutes. This generates a backlog of the transaction which should process and slow things down.

The Bitcoin community has been looking for the best way to solve this scaling problem. Segregated Witness(SegWit) system is one of the solutions which would increase the transaction speed. But SegWit required about 95% support from the miners. Bitcoin fell about 12% on Sunday because of these concerns. However, Bitcoin miners have to respond to this problem.

What is the Solution of Scaling Problem?

Many members of the Bitcoin community have united on a solution known as BIP148. This may include a “User-activated Soft Fork”, where users of Bitcoin will force the blockchain to split by refusing any block of Bitcoin which didn’t indicate support for SegWit. BIP 148 was coming in action on 1st of August and if a large number of developers didn’t commit on the proposal, the blockchain can split.

Charles Hayter, founder and chief executive of CryptoCompare has explained, However, a large group of miners will continue to mine with Non-SegWit blocks in case of the BIP148. In such case two bitcoins would occur, one in which SegWit is active, and other in which SegWit is not active. This may have terrible results for one of the chains or even both. This could be one of the major factors behind the volatile support for BIP91.

Will Bitcoin Avoid a Fork?

To avoid Fork, miners are giving support behind BIP91, that would present SegWit2X to the blockchain. BIP91 requires only 80% support, rather than 95% and to be ‘locked in’ they would introduce the SegWit system.

The managing editor of The Black Swan Portfolio, Bram de Haas, told CNBC via an email on Tuesday, “BIP91 has a minor edge of adoption which made its implementation less risky and more realistic. Adopting the BIP91 will also decrease the possibility of a fork which many people like”.

Bitcoin will surely avoid a fork now but it’s not much terrible if it does not. Haas expected now the Bitcoin prices to rebound faster and faster.

 

Story Credit: cnbc.com

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Buy Bitcoin Anonymously – A Beginner’s Guide To Making Anonymous Transactions

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When making an online transaction, several people like to stay anonymous for various reasons. And to achieve anonymity, they tend to use Bitcoin – a peer to peer, decentralized, digital currency.

It is often said about Bitcoin that it provides complete anonymity – which is not true. The Bitcoin transactions are not completely anonymous. They are made through Bitcoin exchanges. And the exchanges involved in a transaction may request you to provide your personal information, such as email address, a photo of yours, government ID, etc. and by using this information, they can trace and keep track of all your Bitcoin transactions.

(Learn about what are the top Bitcoin exchanges to trade coins)

To sort this out, we are going to discuss here some simple methods that will help you make anonymous transactions. Read carefully.

Stay Anonymous – Buy Bitcoin with Cash:

Wondering how to buy Bitcoin anonymously? Use cash! Yes, this is one of the simplest methods to buy Bitcoin anonymously. However, cash is not the only option – there are some other methods too, and we are going to discuss three of the most common ones here.

Buy Bitcoin Through ATM:

The ATMs give you complete anonymity to buy Bitcoin through cash. The machines don’t require any personal information or something else that a third party can trace. All you have to do is to go to your nearest ATM and make the transaction.

To buy the coins, all you have to do is enter your Bitcoin address and the number of coins you wish to buy. If you don’t have an address, just specify that you don’t have one and the machine will automatically generate a paper address for you.

Later on, using that address, you can import the private key and transfer your bitcoins to PayPal, or wherever you like.

Buy Through Local Bitcoin:

Another way to buy Bitcoin anonymously is Local Bitcoins. It’s a way of buying cryptocurrency through cash and in person. Through Local Bitcoins, you can find someone who is willing to sell bitcoins in exchange for cash in or near your area.

In order to use the service, you will need to sign up to their website. There is no documentation involved, so the process is completely untraceable.

Use Your Prepaid Card to Buy Bitcoin:

Prepaid credit card is another option to stay anonymous. The card is easily available at any supermarket or a convince store. Once you have the card, you can use it to buy the cryptocurrency without having to provide any personal information.

Some Methods That Are Just Partially Anonymous:

If you don’t have access to the above-mentioned methods, you can use the ones that are partially anonymous. These methods don’t require you to provide any ID. However, a phone number is still needed to enjoy the service.

Let’s take a look at some of them down below:

Wall of Coins:

A peer to peer Bitcoin exchange which only requires your phone number to use the service. Wall of coins currently operates only in Latvia, US, Argentina, Canada, Poland, Philippines, and Germany.

BitQuick:

Acts like an escrow between a buyer and a seller.  BitQuick takes the cryptocurrency from a seller and instructs the buyer to deposit cash into the seller’s account. Once the cash is deposited, the coins are released.

BitQuick also requires your phone number for its services.

Conclusion:

These are some ways to trade Bitcoin with complete/partial anonymity. If you are looking to buy coins without being traced, it will solve most of your problems.

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Creator of the bitcoin

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An Australian man claim to be the Bitcoin creator, Satoshi Nakamoto.

Really, he is the creator of the Bitcoin revolution?

Let’s have a complete discussion about it. Because the Bitcoin creator’s mystery is still a mystery. When someone breaks the ice, and claim that he is the creator of this technology, it needs discussion. A discussion with complete and real proof. So, step in, in the mysterious discussion.

Here, I have some question in my mind before a discussion.

  1. how claim to be the creator?
  2. his history, origin, business terms even living standard.
  3. the existence of the legal proves
  4. reason behind the creation
  5. idea to invent a worldwide digital currency and stay anonymous

And much more. At this point, everyone has these or many more question in his/her mind. That is why we will discuss the history and personality first.

How claim?

Craig Steven Wright an Australian businessman computer scientist claim that he is the creator of bitcoin. While a claim is the end of the mysterious discussion in the world.

BBC announced on Monday that Craig Wright told the media outlet he is the real man behind Satoshi Nakamoto. A businessman and computer scientist said that he launched the digital currency in 2009 with other’s help. The Same claim in Economist magazine.

Founder’s identity has been masked in uncertainty. Whereas, the media’s involvement to point out someone who has led the investigation.

Craig Wright says to the BBC,” I didn’t take the decision lightly to make my identity public and I want to be clear that I’m doing this because I care so passionately about my work and also to dispel any negative myths and fears”.

Craig Steven Wright      

Craig Steven Wright, born on October 1970. He is an Australian computer scientist. In addition, he is graduated from high school in 1987. And was the word’s first person who receive GIAC certification in compliance and audits.

Career and business

World’s first online casino was designed by Craig Wright and worked in different companies as well. Due to some security issues, Craig spends 28 days in jail.

Whereas, Craig was the CEO of a firm Hotwire Preemptive Intelligence Group. Which plan to launch world’s first bitcoin-based bank. He is also the founder of the company DeMorgan Ltd. Which receive $54 million AUD in tax incentives. And, he is also the founder of cyber security and computer forensics company.

When rumors come to light

In 2015, random investigations held by Wired and Gizmodo. Both of them assumed that Craig Wright may have been the inventor of the Bitcoin technology. And, the transaction process gets started from here. As the chief scientist of bitcoin foundation, Gavin Andresen opinion counts. He is the one who has communicator with Satoshi Nakamoto more than others.

Today, Andresen believe that Craig Wright is Satoshi Nakamoto. Now, he is trying to convince rest of the world. Here, the reason is, he is the one from the lucky people to have seen which claim is in Craig’s favor.

Andresen belief is solid about Craig Wright’s identity regarding bitcoin. Here, is a private meeting detail of Andresen with Craig Wright in London.

Andresen says, “I’m still convinced that he’s Satoshi despite the really weird proof he’s put in his blog post,” says Andresen. He stands by a statement he published on his website this morning: “I believe Craig Steven Wright is the person who invented Bitcoin.”

A private meeting with private proof    

Andresen says that he was invited by a firm to in-person demonstration designed to prove Craig Wright is the creator. This firm directly represents Craig Wright. Andresen feels hesitation while he was explaining the facts. In December, on transcripts, leaked emails, and accounting documents. But, some gaps found in Craig’s story, including backdated sign evidence, academic credentials. which clearly seems Craig was likely pulling an elaborate hoax or con.

Craig Wright follows up with the series of emails. On April 7, Andresen met with Craig in a conference room with two associates.  Where Craig clear the remaining doubts of Andresen. The Bitcoin creator can have proved himself in two ways, suggested by the cryptographers. First, Nakamoto has to move some earliest bitcoin and been spend in last few years existence. Second, he has to use the same private keys that allow the owner to spend them to instead sign a message. Transfer the data in a way which proves that owner of Nakamoto just has that key.

Conclusion

There is a large number of investigative points which prove the ownership of the bitcoin technology.

Good luck!

 

Tags: bitcoin founder

 

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Xcoins Review

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Today we’ll be reviewing Xcoins, which is a new peer-to-peer lending platform that was launched recently.

Xcoins Review

Buying bitcoins is risky business for everyone, especially due to the possibility of a chargeback. However, Xcoin claims to have found a way around this, since they loan you bitcoins instead of selling them to you. Here’s how it works:

Visit the site and select to “loan” some bitcoins. You’ll be asked to verify your ID and requested to deposit the USD equivalent of how much you’d like to borrow + credit card/ PayPal processing fees + a fixed amount that will be acting as the interest rate on the loan.

Fortunately, there is no ongoing interest on the loan since it is just a one-time payment. Usually, these fees go up to more than 20%.

Selling (or lending) Bitcoins on Xcoins

Xcoins even gives the option to lend bitcoins. You can decide how much you wish to loan in USD and deposit that amount in your Xcoins account. The system automatically matches you with suitable buyers and they will deposit money directly to your PayPal account.

Xcoins Review

In this scenario, you are lending .5 BTC. You would make 15% profit and Xcoins would make 10% profit.

Xcoins put the risk of the transaction on the lender that wants to make money from the premium. There is currently a 15% premium on the bitcoin lending as seen above. So as long as you get a fraudulent customer for less than 15% of the time, you’d end up with a profit.

Xcoins claims that they thoroughly screen all the people that want to buy bitcoins, to reduce the amount of fraud. Also, new users can only withdraw a limited amount of bitcoin and the limit only increases after the user develops a good reputation over time.

What are the benefits?

The main benefit for any seller is obviously to earn around 15% interest when selling bitcoin on the platform.

For the buyer, the advantage is that you don’t need to wire money to an exchange. You can get bitcoin instantly through PayPal or credit card by just paying a slightly higher premium.

What are the risks?

Once you turn over your bitcoins to the buyer, they can choose to challenge the PayPal transaction and unfortunate to the seller, PayPal almost always sides with the buyer. So, the buyer would end up with both the money and bitcoins and you’d be left with nothing else than remorse. This is why you get paid a premium.

 

Conclusion – Will I be using Xcoins?

Being a buyer: Xcoins still seems a little unstable to be used for large purchases since it is very new. Although, if the only way you can acquire bitcoins is through PayPal and you’re willing to pay the price, this might be a substitute to VirWox.

Being a seller: No one would want to risk being flagged by PayPal, thus I wouldn’t recommend this to others as well. However, if you want to try it out, go ahead and please share your experience with us right here in the comments section. We’d love to hear all about it!

In case you’re looking for other platforms where you can purchase Bitcoins, be sure to check out Wirex, VirWox, LocalBitcoins, Cryptonit and Paxful.

 

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‘Clearly Canadian’ Is Now Accepting Bitcoin!

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Clearly Canadian accepts bitcoin

Brand History:

Richmond Hill, Clearly Canadian is a well-known brand in North America. Basically, it is a multi-SKU premium beverage brand, produced by The Clearly Food & Beverage company of Canada. The brand history started in 1987 in British Columbia, Canada. Therefore, it is well known in North America, Scandinavia, and also in different places in Europe and Japan. Clearly Canadian is the 30-year-old company whose production is very famous across the globe. Now, they are going to accept the payments in Bitcoin Canada.

Bitcoin’s Time:

Clearly Canadian knows the evolution of digital technology. At the same time, keeping in view the market trend. The company is going to starts pre-sales to the Bitcoin world. As the Clearly Canadian’s Bitcoin campaign manager Mitch Callahan says, “Just as Clearly Canadian pioneered the new age beverage industry in the ‘80s and ‘90s…bitcoin, in a much more profound way, is poised to change how we all transact business on a global scale and in our daily lives. Clearly Canadian finds that truly exciting and we are proud to be a new emerging member of the bitcoin community.” In addition, manager says, “Online virtual currencies are clearly here to stay – no pun intended”.

Related: Buy Bitcoin  Canada online in few easy steps

The worldwide consuming brand needs high production. Whereas, the company producing exceed in 5 million cases annually. Clearly, Canadian managers said, “We’d like to pre-sell at least 25,000 cases of Clearly Canadian online to the global bitcoin community. personally, I hope we double, triple or even quadruple that goal.  Let’s see what happens. Pricing will be in dollars. Whereas, a transaction in bitcoins through BitPay.The leading Bitcoin merchant processing platform. We have a wish to be a long-term merchant in Bitcoin transaction consumer goods. Hopefully, the new currency’s volatility will remain low facilitating greater adoption”.

In response to Canadian manager’s statement. CEO of BitPay Toni Gallipi stated: “Having a globally recognized consumer brand such as Clearly Canadian Bitcoin join the Bitcoin community is a powerful statement about the increasing popularity and growing base of Bitcoin merchants and users. Many are watching the Bitcoin market closely.we hope that this is the first of many established brands. That see the benefits of adding bitcoins to their payment options. We are happy to have Clearly Canadian on board. Accordingly, wish them very best of success in its campaign”.

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Install, Backup And Restore A Bitcoin Wallet. Or, Almost Any CryptoCoin Wallet (Windows)

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