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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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Easiest And Fastest Way To Buy Bitcoin Online From Btcwonder.com

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Bitcoin is a cryptocurrency without any delegates or banks required to direct transactions. It was built as open-source software in 2009 by an individual or a group referred to as Satoshi Nakamoto with the idea to limit transaction costs and deregulate money. There are many ways of buying Bitcoin. Here we are going to discuss the easiest way to buy Bitcoin.

fastest way to buy bitcoin

Buy Bitcoin Through Wallets:

The easiest way to buy bitcoins is through digital wallets. CoinBase is the most renowned wallet. All you need to use this wallet is sign up for an account and link your bank account.

The reason why it is considered the easiest way to get bitcoins is because it allows the option of buying bitcoin through Visa and Master Card.

Other Ways to Purchase Bitcoin:

Another fastest way to buy Bitcoin is buying it through local bitcoins. Here you go to localbitcoins.com and setup a meetup with a local Bitcoin seller in your area. Make sure that the meetup is kept at a public area or somewhere you are completely familiar with. Local Bitcoin deals have a history of taking unpleasant turns so you must take every precaution before making the transaction.

Bitcoin faucets are also considered the fastest way to buy bitcoins. Bitcoin faucets are programs that are designed to distribute bitcoins in fractions to the visitors to claim. There is a time interval between each Bitcoin batch that is released and the visitors must wait through it.

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What Are Some Easiest Ways to Earn Bitcoin

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Easiest Ways to Earn Bitcoin

Bitcoin is the most popular form of digital currency. The use of bitcoin is increasing each day, and it’s becoming progressively hard to earn them. If you are one of the people who are keen on starting a venture in the world of Bitcoin, and looking for ways to generate your own coins, here are some killer tips that will help you learn how to earn Bitcoin – the most valuable cryptocurrency out there.

The Killer Ways to Earn Bitcoin – Accept It as A Form of Payment:

One of the easiest ways to earn bitcoins. If you own a large corporation, run a small business, are a shopkeeper or just provide your services online, start accepting bitcoins in payments.

To accept bitcoins payment, you will need to follow a few steps. The steps include:

Get a Wallet:

To switch to bitcoin payments, you will need a bitcoin wallet. It’s a virtual wallet which is used to store Bitcoin.

Display “Bitcoin is Accepted Here” Logo:

Once you have the wallet, display the logo that says “Bitcoin is accepted here”. This will help your clients realize that you accept Bitcoin payments.

Check out our guide on how to accept Bitcoin payments here.

Earn by Completing Specific Tasks on Websites:

There are several websites that offer bitcoins for completing certain tasks. Some even offer bitcoins just for visiting their home page. The concept is similar to the good old free TV. You watch numerous ads, and in between these ads, you get to see something that grabs your intention, like a funny clip or a song.

Earn Through Mining:

One of the easiest ways to get bitcoins. In Bitcoin mining, the miners from all across the world connect with each other through mining computers and the internet to form groups. These groups are then given certain problems to solve. Those who successfully solve these problems are rewarded with bitcoins.

To do the mining, you will need a powerful computer, fast internet and electricity to keep the computer running 24/7.

Earn Bitcoins Through Tips:

Accepting bitcoin through tips is similar to accepting bitcoin as payment. You will need a wallet, QR code with bitcoin wallet address on it and people who can potentially give tips in bitcoins.

Here are some ways through which you can get in touch with people who deal in bitcoins:

  • If you have a shop, simply display the QR code and keep an eye on what’s coming in.
  • If you don’t own a shop, no worries. You can also accept tips through blog posts. Simply put your QR code somewhere where the users can easily see it and then decide how they want to tip you.
  • Another cool way for getting online tips is Bitfortip. The service directs you to people who are willing to give away bitcoin tips

Conclusion:

These are some easiest ways to earn bitcoins. Putting it in a nutshell, you can earn Bitcoin by accepting it in the form of payment, writing online blogs, visiting different websites and completing specific tasks, and via tips.

Good luck with your venture.

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REPORT: South Korea Is Considering to Reverse Ban on ICOs

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According to the latest report, in the coming months, ban on the ICOs (Initial Coin Offerings) by South Korea could be eased. In September, it was reported that the Financial Services Commission of the country had moved to ban the blockchain funding model. However, the latest report by the “Korea Times” claims that there’s a chance that the ban may get lifted, especially for token sales.

ICOs

From an anonymous source, it’s stated;

“The financial authorities have been talking to the country’s tax agency, justice ministry, and other relevant government offices about a plan to allow ICOs in Korea when certain conditions are met.”

Even with the local ban, a lot of cryptocurrency users in South Korea are still contributing to international ICOs. The official at the FSC (Financial Service Commission), that manages and supervises the cryptocurrency trading rules, Kang Young-soo, has denied to give any statement on ICOs and just said that third-party-view is being considered by FSC.

Moreover, Young-soo has also confirmed that the government is also looking forward to make a whole lot better infrastructure for regulating the trades of cryptocurrency and also to advance blockchain technologies. On the other hand, international cryptocurrency market is presenting new challenges for lawmakers as well.

At this time, there’s a ban on the overseas residents from trading cryptocurrency in South Korea. The main purpose of this ban is to curb money laundering and other cross-border crimes that might be possible. Meanwhile, it’s been reported that the officials of South Korea are having a word with counterparts in China and Japan, in order to discover regulatory collaboration, which at the same time, also means that any final regimes could be settled with those countries.

Right now, the biggest problem that the government is facing with cryptocurrencies is its inability to efficiently control taxes from cities that hold the currency. Though, countries like Japan have shown a way of managing it, by taking each ICO on a case by case method, while other countries like China have chosen a total ban. China is showing no sign of willingness to ease this ban on the ICOs (Initial Coin Offerings), as this is the country’s own ban, which was revealed in early September to South Korea’s announcement. When a ban on ICO was announced by South Korea, it was really discouraging, as this country is best known for accepting and implementing the latest technologies.

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Bitcoin mining hardware

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Is the bitcoin mining being really profitable? Some of this technology users say yes, it is profitable. Whereas, bitcoin mining is a difficult task while you are competing against Chinese miners. As the year 2016 was the best for mining described by the stakeholders. While mining of the bitcoin become difficult after a second halving event. Whereas, reward on mining of one block decline from 25 to 12.5 BTC.

You need more efficient mining hardware if you want to compete and continue with bitcoin mining process. Few of the mining hardware are given below,

Ant miner S5

This is the cheapest miner often known as the entry-level miner. Users of this device are fully satisfied with it. But the block reward is decreasing now. You are not able to generate 0.05 coins in revenues. In addition, to get full BTC, miners have to operate one year and eight months.

 

Bitcoin mining hardware

Ant miner S7

You have the ability to produce 0.15 bitcoin with ant miner S7 to become a leader. While, If the currency value continually growing up, it will be the very good investment. This device is better for the early adopter of the technology. Whereas, it is not enough strong to produce a large number of bitcoin.

 

Bitcoin mining hardware

Avalon 6

Avalon 6 is same as s5 and s7 with little changes. While the users of this technology are fully satisfied with it. Miners mostly select s7 instead of Avalon 6 because of it is $100 more expensive than s7. This software has the capacity to earn 0.12 bitcoin per month.

Bitcoin mining hardware

Ant miner R4

This mining machine is specially designed to mine bitcoin at home as a hobby. It has the ability to compete with s7. In addition, the upside of this hardware is cooling machine. Furthermore, it is quite compared to the other bitcoin miners. You can break even with this device within a year. Whereas, it involves the risky investments. And miners become outdated after six to nine month. ROI only produce in case of currency values continually increases.

 

Bitcoin mining hardware

Avalon 7

Bitcoin mining hardware

Avalon introduce the most recent mining device Avalon 7 or 721. It is quite cheap as compared to the modern mining hardware devices. In addition, with entry-level mining, miners can break even within two years.

Ant miner S9

It is basically a cream of the crop. In addition, with the capacity to mine 3 or 4 times more BTC, it is five-time expensive. This device uses electricity more efficiently because it provides the profit at a short time period.

Accordingly, this device is new in the market is the most sophisticated rig. Antminer has the capacity to mine 0.5 coin monthly in which extra expenses are not included. Whereas, with the greater hashing power Antminer S9 work efficiently.

Bitcoin mining hardware

Bitmain manufacturer

A top maker of the Application Specific Integrated Circuit hardware (ASIC) Bitmain is easily available for the public in a market. S9 is the latest model in the market. Whereas, its chip is smaller than the others mining hardware but is more efficient in working.

Accordingly, miners will be able to break even within the year.

Bitcoin mining hardware

Bitcoin mining hardware

Upcoming mining hardware

Following are some mining hardware with efficient mining capacity.

Fast- hash one

Fast- hash one series is including silver edition, gold edition, platinum edition means three model machine is in one setup. Machines come with the same module. And has a capacity to up-grated up to six.

Editions Start Tops out Produce bitcoin
Silver edition 64GH/s 384GH/s 0.2 up to 0.85 bitcoin per day
Gold edition 128GH/s 768GH/s Same as above
Platinum edition 256GH/s 1.536 TH/s Same as above

 

Gold and platinum editions support up to six expansion cases. Whereas, silver does not support this sort of cases. These miners are available for pre-order and each extension contains 16 modules.

The price of this fast-hash one is $2499- $5999.

Bitcoin mining hardware

CoinTerra and TerraMiner IV

CoinTerra and TerraMiner IV is bitcoin mining machine. Which is drove by CoinTerra’s own in-house ASIC chips, Goldstrike I. In addition, TerraMiner with 4U power supply is built on 28nm process.

Specifications

This miner contains 4 ASIC chips with the hash rate of 500 GH/s. Accordingly, CoinTerra IV has the total hash rate of 2TH/s. Furthermore, a price of $ 5999, CoinTerra translate to just over 1.1 bitcoin per day.

 

 

Bitcoin mining hardware

Hashfast Sierra

Hashfast sierra is an efficient performance mining machine. It is basically built into 4U mountable case with two seansonic power supplies. Sierra has the hash rate of 1.2 TH/s means 0.66 bitcoin per day. This miner does not have an on-boarder controller. So, you have to connect through a USB. This main control is everything that will run CGminer, a mining software. Hashfast sierra with a cost of $6300 is available.

Bitcoin mining hardware

Black arrow Prospero X-3

Black arrow X-3 is presented by 20 black arrow minion ASIC chips. The ASIC built on 28 nm processor and are in-house design. The 20 Minion ASIC chips in the Prospero X-3 give it a hash rate of 2TH/s, good for about 1.1 Bitcoins per day as of the time of writing. The Prospero X-3 has been designed with up to 20% under- and overclocks in mind. It also supports the lightweight Stratum mining protocol.

The Prospero X-3 is available for pre-order and is scheduled to be available at the end of February 2014.

The price of this mining hardware is $6999.

 

 

Bitcoin mining hardware

KnCMiner Neptune

Bitcoin mining hardware

This miner is quite possibly the granddaddy of all Bitcoin mining machines. Whereas, it is basically four modular 20nm ASIC boards, designed so that the machine will continue mining even if one (or more) of the boards fails. Accordingly, it follows up from their previous miner, the Jupiter, which was built on a 28nm process.

The Neptune has a minimum hashing speed of 3TH/s, which translates to about 1.66 Bitcoins a day. This is a vast improvement on the Jupiter, which was only able to mine 0.6 Bitcoins a day. KnCMiner also mentions that they have the right to increase the speeds as it nears shipment, so the Neptune might end up being even faster once it gets into miners’ hands.

The KnCMiner Neptune is currently available for pre-order and is scheduled to begin shipping in Q1/Q2 of 2014, limited to 1200 units.

The price of this mining machine is $12,995.

Good luck!

 

 

 

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How To Use A Bitcoin ATM

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Bitcoin ATM

Bitcoin ATMs are nothing much unlike than the traditional ATMs that almost all of us are very familiar with. The main difference is the usage of Bitcoins for transactions rather than the debit cards. In a traditional ATM, you insert a debit card to receive the cash you require; Bitcoin ATM helps you exchange cash for Bitcoin or vice versa. These Bitcoin ATMs allow you to dispense in fiat currencies too just like the traditional ATMs.

Keeping the true essence alive, these ATMs also allow you to perform the transaction anonymously as well. For Bitcoin ATM users this privacy comes with some privacy though. These ATMs charge about 7-10% for the sale and purchase of these Bitcoins per transaction. Which may be a good amount for some of the coin holders to pay. But it may be a price worth paying for some.

Some of these Bitcoin ATMs also aid other cryptocurrencies, like Ethereum and Litecoin.

A Bitcoin ATM near you

With the increasing acceptance and interest of people in Bitcoin around the world, there are now successfully 1700 Bitcoin ATMs installed in across 58 countries. So finding a Bitcoin ATM installed near or closest to you is easy. There are specific Bitcoin ATM maps designed, where you enter your location and you get a list of ATMs in your area. It’s more of a radar service that also connects you to the live worldwide Bitcoin ATM map. You will be surprised to see the number of ATMs emergence in the map.

Once you get to choose the suitable ATM, you can click for more details about certain specs and particularization of the particular ATM.

Though there are around 40,000 different service providers to help you exchange cash for Bitcoin and Bitcoin for cash. So why use Bitcoin ATM?

At most, these ATMs, at least most of them don’t really require a lot of information from your end. These machines don’t require your personal information. Bitcoin wallets or their addresses and the cash is all that is required.

Inserting your cash and acquiring the subsequent number of Bitcoins in return in a few seconds is a very simple and easy process. Out of all the other services available, this is the easiest, quickest and most cloaked form of the transaction of this digital currency.

Bitcoin ATM-Basics

So, basically, most of these ATMs work more or less the same way. But a few may vary from the others in few ways and steps. For instance, a few places, you can only acquire Bitcoins and cannot sell the coins. These ways may also vary depending on the manufacturing formation of some brands and types, depending on their set limits and verifications.

  • Verification
  • Bitcoin deposit address
  • Insert cash
  • Confirm operation

These are the general processes following all the Bitcoin ATM processes throughout. Two of the world’s biggest Bitcoin ATM companies that have laid hands in the manufacturing of this vastly spreading industry is Genesis Coin and General Bytes. These companies offer different models and types of Bitcoin ATMs specific to the needs and for the relevant business nature, they are required for. These machines are also exported by General Bytes to other countries around the world.

Bitcoin ATM- Process

The basic process for the usage of these ATMs is the same but it may vary due to a number of specific reasons.  The process to exchange Bitcoin for cash is very similar to the following process.

  1. The ATM will require you to scan your Bitcoin address first. If you want to receive Bitcoin, open your wallet in your smart device and scan the QR code to the specified screen on the ATM.
  2. The ATM will then require you to insert a bill. Your choice entirely. You can calculate the exchange rates on your smart device.
  3. After inserting the cash, the ATM will pop a screen showing the equivalent number of Bitcoins according to the cash you inserted. You can choose to SEND Bitcoins once you are done inserting the cash.
  4. Under a minute you will be able to receive the number of coins in your wallet.

In order to receive the cash, the process is pretty much identical.

  1. You can choose the option for ‘CASH’ from the main screen of the ATM.
  2. The screen will allow you to choose the amount of cash required.
  3. It will generate a QR code which you will scan on your smart device, showing the number of Coins being transacted during the process.
  4. Hit ‘Send’ from your device and confirm it.

In less than a minute you will receive your cash, just like the ATM.

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