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30 June 2017, After the meeting and inquiries from the parents, the head of two Montessori schools are going to accept the bitcoin.

Marco Ciocca, co-founder of the Flatiron & Soho added this option in the month of June. He held the meeting and inquiry session with parents. Accordingly, this decision comes from a different number of places. Not only school accepting the bitcoins as a payment infect universities including London and Greece are also accepting bitcoin in payment.

About 10 Parents are ready to do payments in the Bitcoin and Mr. Ciocca

He says, “If we talk about just the sort of transactional ease… I think this form of payment will continue to grow”.

Bitcoin is a cryptocurrency, which was used in 2010 first time in the real world. People accept it, spend it, use in exchange and do transactions around the world. Which means, it has some worth, some value.

Today’s value of the bitcoin is $2514.98. whereas its value is double since the start of this year.

Parents are lucky who invest early because they enjoy the rise in the price and discount on school’s hefty that is $31,000.

But Mr. Ciocca opposed the profit from coin value’s fluctuation in the financial market. The will receive tuition fees in bitcoin or other digital currencies.

By accepting these digital payments, Mr. Ciocca drags the parent’s attention toward the technologies’ new trends. This is the easiest way of each kind of payments. He says, “It’s just a much more seamless transaction”.

He was the investor of this-this currency first and want to be the part of its growth. That’s why he followed the currencies and introduce them in his own schooling system.

Story credit: bbc.com

 

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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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Major Cryptocurrency Fiasco: Coinmarketcap Removes South Korean Price

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The trading price of Ripple on South Korean cryptocurrency exchange has been removed from the Coinmarketcap yesterday.  Over past week, well-regulated South Korean cryptocurrency exchange market has been accountable for more 50% of global Ripple. The world’s second largest cryptocurrency exchange with $2.6 billion daily trading volume process $750 million worth of Ripple trades on a daily basis.

Coinmarketcap Failure:

The decision of Coinmarketcap for suddenly removing South Korean rates is questionable though it has removed South Korean rates from all the other cryptocurrencies including Bitcoin, Ethereum, and other cryptocurrencies. The price of all the cryptocurrencies that are concerted in the South Korean market has decreased significantly.

For newcomers, the sudden removal of South Korean rates from Ripple’s global average price looked like a major correction. According to Ripple’s chief cryptographer, David Schwartz, Coinmarketcap’s decision to eliminate Korean prices from the displayed XPR price made the price appear to drop possibly triggering some panic selling. Look meticulously at the data and don’t be deluded. He also highlighted that the latest price of Ripple without the high premium rate of the South Korean market is more meaningful. Although it has triggered a minor sell-off as investors began to validate concerns over the short-term performance of XPR.

Is it a Good Decision?

Analysts and experts have conflicting viewpoints on the removal of South Korean rates from the global price of cryptocurrencies on Coinmarketcap.  David Schwartz also said that the removal of South Korean rates is advantageous for the market and for every cryptocurrency that is listed on the Coinmarketcap since only a portion of investors is affected by the premium rates in South Korea.

It’s quite difficult for foreigners to trade cryptocurrencies in the South Korean market and also very much challenging for South Korean investors to take benefit of the arbitrage opportunity. The price of cryptocurrencies in the South Korean market is exclusive to local traders and investors.

The question about the rates from the South Korean market whether they should be imitated on the global price of cryptocurrencies still remains unanswered. Whereas some experts believe that it could make the ecosystem better. Others believe that the sheer trading volume coming from the South Korean market and strict rules imposed by the government to regulate the sector, South Korean rates should be considered in the calculation the global average price.

Eventually, due to the strict capital controls, it’s not possible for the foreign traders to move South Korean won out of the local cryptocurrency segment. Therefore, experts believe that the removal of South Korean rates is defensible.

Story credits: ccn.com

Image: Google images

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What is driving Bitcoin’s price up?

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What is driving Bitcoin’s price up?

Bitcoin’s price has been soaring sky high the past few months. It takes everyone by surprise how well the cryptocurrency has been doing.

On April 24th, Erik Voorhees had made a prediction of $300 billion market capitalization on Twitter: “Tokens as an asset class have surpassed $30 billion. I predict over $300 billion within 4 years.”

So, what could be the factors contributing to driving Bitcoin up to new heights?

Through estimates and statistics, it still shows that 85% of the Global Bitcoin trading comes from China. Remaining countries have had a lesser impact. Obviously, due to a large amount of data flowing in from all sides, it’s hard to keep track of the accuracy of everything.

Economists, market analysts and financial experts, like CFA Prableen Bajpaiare, report current fears in China and Asia that the yuan could deflate due to the increased investments in bitcoin.

Other analysts have agreed to this as well: “Signs indicate Bitcoin’s price has become linked to a number of macroeconomic factors in China,” said Vijay Michalik, a research analyst for digital transformation at consultancy Frost & Sullivan.

“It highlights growing concerns about yuan currency deflation, as bitcoin’s appeal has grown as an alternative asset class for a population deprived of many investment choices.”

“The most likely explanation appears to be linked to market confidence in the Asia region, with low confidence in local currencies providing a major boost to bitcoin demand,” said James Lynn, U.K. managing director at investment company Billon Group, in a 2016 CNBC interview.

There has also been a big devaluation of currencies in other emerging markets such as India and Russia. For example, the Indian Rupee had gone down by 20 percent in 2017 compared to the US Dollar.

Even if the USD is rising compared to other currencies, people around the world are still looking for alternatives to it and Bitcoin has seemed to won that competition.

Russia

In 2016, Russians were exchanging their depreciating rubles to bitcoins by a large number. Due to tumbling of the ruble, the Russian Ministry of Finance came up with statements regarding money laundering and the possibility of taxing and regulating Bitcoin as an asset. Deputy Finance Minister Alexey Moiseev told Bloomberg in an interview in April 2017. He also added that “The state needs to know who at every moment of time stands on both sides of the financial chain”.

Blockchain companies funding

Bitcoin start-ups that attracted large investments in Bitcoin and blockchain companies, with total funding of $550 million are now increasing the demand for bitcoin in 2017. This had a huge impact on the Bitcoin’s value, causing it to shoot up.

Back to China

Due to the deflation of the yuan currency, Bitcoin value has been very appealing to Monetary policies, Chinese companies, and rich individuals. Also, several big investors are being tempted by Bitcoin. They are all demanding for Bitcoin in China since it is much more stable right now.

Japan, important growth

Things have started to get very interesting in Japan as well. In the last 6 months, what happened to be just 0.91 percent of the total bitcoin trading volume has surprisingly risen to 6 percent in just 30 days. Based on unofficial estimates and data provided by coinmarketcap.com and data.bitcoinity.org. There has been a sudden increase in the demand of Bitcoin in Japan.

What is driving Bitcoin’s price up

Can anything wreck the path Bitcoin is on?

Anything, such as the increase in the price of gold would cause a drop in the value of bitcoin, but this won’t be happening anytime soon. Gold is down 4.58 percent in the last 30 days, which is in favor of Bitcoin.

Also, the altcoins have been grabbing a lot of attention the past few months, but they’re still risky and unstable investments. Whereas, Bitcoin is in a much better shape than most and will be reaching new heights in the near future.

Tags: Bitcoin’s driving price

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Can Bitcoin become a Legal property?

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More and more people join the Bitcoin community every day. Thus, the drive to determine how it can integrate into mainstream society becomes even more essential. The questions that strike to everyone is whether any traditional laws apply to Bitcoin or not.

Although these determinations might bring implications to its holders and Bitcoin itself, and few will play a bigger role in the United States than property laws, which could ultimately govern ownership over the digital currency.

A new white paperTreatment of Bitcoin Under U.S Property Law, assembled by Perkins Coie. The report seeks to analyze how the worlds of virtual currency and property law intersect. Perkins Coie is an international law firm that specializes in blockchain technology and digital currency, also it has been active in space since 2013. It is pretty detailed and well researched but the paper’s conclusion is straightforward and transparent.

“We conclude that property interests should exist in Bitcoin under such law and that multiple sources of persuasive authority provide additional support for that conclusion,” the paper’s authors, J. Dax Hansen and Joshua L. Boehm, wrote.

The paper starts off with an overview of Bitcoin’s technological aspects and what those mean for how property law can apply to it.  The authors use California state law and Bitcoin transactions as an example and make their case.

“Parties may … enter into contractual arrangements in which one party entrusts partial or complete control of such private key(s) to a third party while still maintaining formal title to the bitcoin value represented inapplicable [unspent transaction outputs],” the paper reads. “These kinds of contractual arrangements are commonplace in custodial, trust, and escrow settings, which have generated well-developed legal principles that should generally translate to bitcoin custodial contexts.”

Even the country’s superior law professors support the idea that intangible property rights should apply to Bitcoin:

“Property law scholars who have encountered the bitcoin ownership issues in the context of broader, more theoretical undertakings have reached the same general conclusion… that is, interests in bitcoin should be protected by property law.”

The author further describes how Bitcoin has been widely treated as property by legal divisions and thus can be owned as one.

“Although the concept of ‘property’ is fundamentally a matter of state law in the United States, it is also important that bitcoin has been widely treated as property for the purposes of other state and federal statutory regimes,” reads the paper. “These treatments and assumptions have already had substantial consequences for the bitcoin sector. They, therefore, constitute informal but persuasive legal precedent further indicating that bitcoin can be owned as property.”

The author also pointed out the challenges that would come along with treating the currency as legal property. These include the lack of traceability that comes with Bitcoin, the multisignature arrangements, and pseudo-anonymity. Although, the authors are still positive that these obstacles can be overcome as the technology evolves.

“To be sure, difficulties in tracing ownership of particular bitcoin units across successive owners could cause some challenges in certain commercial use cases,” they wrote, but “blockchain technology itself has enables, and will likely continue to enable, solutions to obstacles that do arise.”

It appears to be that the worlds of Bitcoin and formal legal precedent are rapidly coming to a head. This could be a turning point for Bitcoin’s future.

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Burger King Russia to Accept Bitcoin as a Payment Method

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Russia has been one of the reasons behind Bitcoin’s drastic increase the past few months since it announced that Bitcoin is “not illegal” anymore in the country. The acceptance towards bitcoin shown by the Russians has boosted the bitcoin value, which is a major advantage to the cryptocurrency.

Burger King is one of the largest fast-food franchise in the world and to hear that it is leaning towards Bitcoin as a payment method is interesting. Although, it is yet to decide the software they’d be using to accept bitcoins.

Let’s not forget, this isn’t the first region to accept bitcoins as a payment option at Burger King. Arnhem Bitcoinstad welcomed Burger King to their list of Bitcoin merchants, by the name of Burger King Arnhem. It was the first Burger King restaurant to experiment with Bitcoin.

Since the cryptocurrency hasn’t exactly been announced as a legal tender, it causes some taxation issues. We are yet to see how Burger King will handle this problem as they move along with their decision.

It is possible that after seeing Russia’s initiative, other countries may begin to implement such payment options as well, which is what every Bitcoin enthusiast is waiting for. This will only open new doors for Bitcoin, especially in Eastern Europe.

 

News Credits: newsbtc.com

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