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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

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Cryptocurrency Mining Stocks – Which ones are the best?

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Cryptocurrency mining is a process through which businesses/persons with high-powered computers and servers compete against each other in order to solve extremely complicated mathematical equations – result of the encryption which is designed to protect transactions on a blockchain network. Top cryptocurrencies use mining process; however, others use different methods.

top cryptocurrencies

There are other factors that you

keep in mind, since there are inflated costs included in the crypto mining, as well.

must

  • Thousands of servers, processingunits, and hard drives are used for solving complex equations, making it a highly intense electricity practice.
  • This doesn’t only increase the electric bill, but also creates a lot of heat, so a cooling system might be required for it as well.
  • Likewise, hardware becomes outdated real-quick, so miners are also required to upgrade their equipment on daily basis to remain competitive.

Mineable Cryptocurrencies

All virtual currencies are not mineable. Mineable cryptocurrencies are:

  • Bitcoin
  • Ethereum
  • Bitcoin Cash
  • Litecoin
  • Monero
  • Dash

However, other cryptocurrencies like Ripple, E

 

OS, Cardano, Stellar, IOTA, and NEO, use a different technique of transaction validation, which is known as “proof of stake.”

Cryptocurrency mining isn’t viable for everyone, though it has been lucrative. There are many ways through which investors can gain exposure to crypto mining.

 

AMD and NVIDIA

The most protuberant names of the bunch are:

  • NVIDIA
  • Advanced Micro Devices (AMD)

They are quite popular for their PC-based microprocessors and graphics card, respectively. However, no company has been impending related to how much of their sales are linked to cryptocurrency mining, but at the same time, each company has evidently profited from the sale of graphics processing units (GPU).

 

In reality, the demand for GPUs is quite strong and the price of graphics cards, including the new and the old ones is also increasing. This truly makes a little bit of a conundrum for both AMD and NVIDIA, as AMD is more commonly known. The main customers of both companies are potential gaming enthusiasts as well as enterprise customers.

If cryptocurrency mining demand keeps on plucking the supply from the market, the high price for graphics cards could come as an upheaval amid AMD and NVIDIA’s customers. On the other hand, if these companies make a product just for cryptocurrency mining, they will probably cut down the prices by cumulative supply and cram the sales.

Although both companies surely have so much going on outside the cryptocurrency mining industry, but still there’s a possibility that their share prices could consider the ebbs and tides of virtual currency token prices – consequently, making it something unforgettable.

 

TSMC (Taiwan Semiconductor Manufacturing Company)

Taiwan Semiconductor Manufacturing Company is among growing cryptocurrency mining stocks and isn’t really keen on revealing its sales percentage.  TSMC reported strong first-quarter functioning results last week, including a 6% upsurge in its sales from the prior-year period. The co-CEO and president of TSMC, C. Wei, explicitly said that these consequences were largely driven by robust demand for high-performance computing like “cryptocurrency mining.”

 

HIVE Blockchain Technologies

Well, if you want cryptocurrency mining exposure deprived of running your particular own mining operation, there is over-the-counter exchange-listed HIVE Blockchain Technologies. This widely traded cryptocurrency mining firm is trying to ramp up its operations in Iceland and Sweden at this time – envisions making almost $150 million in revenue every year from its operations.

Iceland and Sweden provide commercial kilowatt-per-hour electricity prices; below the European average. In addition to that, these are comparatively temperate nations, which could help in keeping mining equipment imperturbable.

Even with being a cryptocurrency mining start-up, HIVE Blockchain has already turned a revenue in its latest reported quarter. Certainly, the $149,724 in revenue was insignificant and resulted in $0.00 in returns per-share. It seems like HIVE could make over 10 times – each quarter when completely ramped up.

HIVE Blockchain isn’t specifically selling all of the tokens that it is mining. It does hang on to few of these coins, hoping they will appreciate in value. Consequently, HIVE directly allows an investor to access crypto mining margins, along with the movement in a trickle of some reputable digital currencies. However, some risks are also included.

Risks

  • As long as the business is totally devoted to cryptocurrency mining and lacks sales diversity, investors must know that if virtual currency prices drop significantly, their investment in HIVE could also drop.
  • Also, if you want to raise capital, it won’t be astonishing if HIVE Blockchain dilutes current investors through “bought-deal offerings.”

These are some risks that stock investors must have to endure; especially if they want to directly access a publicly-traded crypto mining stock.

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UK Heading to Historical Election Sees Rise in Bitcoin and a Fall in Footsie Prices

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Increase bitcoin value

Theresa May, the unelected British prime minister has surprised as well as excited everyone simultaneously by calling a snap election.

Main Story:

“It was with reluctance that I decided the country needs this election, but it is with strong conviction that I say it is necessary to secure the strong and stable leadership the country needs to see us through Brexit and beyond,” May told the Reuters.

The surprise/excitement is there because no one expected an election as May had already firmly stated that there won’t be one.

The sudden U-turn has seen FTSE drop some 2.46%, taken the Pound to month’s highest and increased Bitcoin value by 1.50%. Great news for Bitcoin fanatics!

The outcome of the election is somewhat certain as May is 20 points ahead of Labour leader, Jeremy Corbyn, who is considered to be unelectable by the public.

The only candidate that could give Theresa tough time is the Liberal Democrats leader, Tim Farron. The party came to power in 2010 and got a severe punishment in 2015 due to raising student fees.

The major deciding factor in this election could be the Pro-EU stance of Jeremy. However, the Labour leader has been accused of lackluster Pro-EU campaigning before the referendum took place. This has led some voters believing that he is secretly Pro-Brexit.

Therefore, the only realistic choice for 48% anti-Brexit voters is Tim Farron. But it’s still early days to predict what the Liberal Democrats leader has to offer. Will he be willing to accept the referendum’s result and campaign on soft-Brexit? Only time will tell.

However, if he does so, it may very well cause the third political earth quack in just months.

Whatever the election outcome is going to be, the decision of Britain to leave must be upheld. Fingers crossed!

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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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