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Bitcoin profitability

When I do shopping, I like to buy goods at a low rate and save some amount. This is much difficult to attain profit while you are buying or selling something.  In the same way, when you are using bitcoin ATM in exchange as well as in buying of goods.  You can make bitcoin profit… not serious???  Yes, you can make the profit while you are using bitcoin ATM.

Bitcoin ATM industry is few year old but is growing every day. It’s almost more than 500 ATM worldwide. Basically, profit from bitcoin is not easy money. You need some targets for your success. Firstly, make it sure that you are making transactions in legal manners with a required license. Secondly, it is very important to choose the public place. Third, you need some promotion of your machine to your surroundings. Fourth, you have to maintain bank relation for the back end. Five and the most important is to make a good reputation.

Furthermore, ATM charge 5.2 % fee or 6% assume $2k gross profit per location on average. This fee can be varying from place to place. Here is an example of $20k per year means $100 gross profit, which is nothing. On the other hand, in a case of Robocoin, an operator will pay $1 fee. According to Robocoin statistics, 1/3 of all sell bitcoin transactions. Whereas, 2/3 buy operation on average. It is assumed that buy and sell transactions are on an equal scale, but it varies. Actually, not all bitcoin ATMs operation support these two-way transactions. Sometimes there is only buy operation and average buy and sell is $480 and $750. Ironically, operation matrices highly depend on many factors including place, area, country, traffic etc.

Here, we created 3 scenarios for bitcoin ATM by using the calculator. Basically, these are theoretical calculations, which do not need any promotions and marketing process.

Is bitcoin mining profitable?

Scenario no. 1

Skyhook is only one-way transaction operator and the bill acceptor is limited to a capacity of 500 bills. Which makes it the cheapest ATM. On the other hand, it is with limited in operations like does not accept large Euro banknotes. The most important things in place, you have to choose the right place.

For example, cash logics are done by the operator and we don’t have to pay rent. Average transactions are 100 per month and average transaction of $50. After the period of payback of bitcoin ATM which is 4 month, it will bring $235 to the owner every month after the return of investment.

 Scenario no. 2

This scenario includes more than two bitcoin ATM machines. Most of them support two-way transactions process and much solid than the scenario 1.  For example, ATM cost is $6000 and per year transactions are 100 which average transaction is at $150. Calculations show that after 9 months of launching it will reach to its break-even period. Whereas it brings $705 per month to its owner after investment return.

 Scenario no. 3

Robocoin ATMs, the most expensive ATM in the market. These ATMs are fully equipped and also support two-way transactions. ATM cost is $15000 with 150 transactions per month and average transaction size is $300 per month. Because of its function, it also looks like the standard bank if ATM.

Here is some example of different ATMs we find on the internet. Vancouver first Robocoin machine, Bit Access stats, Black Star Pastry Bitcoin ATM, Skyhook Bitcoin ATM in the Philippines, Satoshi points Bitcoin ATM in Bristol, Operators survey, BTCPoint analysis, Two-way BitXatm machines in Switzerland.

Conclusion

If you are going to purchase bitcoin machine don’t expect too much. Make your relations strong and promote your machine.  Above are some example and will support you to make your decision profitable.

GOOD LUCK!

 

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Bitcoin Crash Reasons: Once Again as The Bitcoin Drops Below $9,000

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Most of the cryptocurrencies in the cryptocurrency market have fallen by more than 16% and the market has experienced another major correction as the bitcoin price has dropped by 14%.

The price of Bitcoin has dropped below $9,000 and is currently trading at $8,704. Many investors are now wondering about the bitcoin crash reasons.

The major cryptocurrencies like Bitcoin Cash, Stellar, Ripple and Cardano have also dropped by 12-16%. Analysts have shown their concern towards Ripple because it fell below the $1 mark for the second time in two weeks.

Bitcoin Crash Reasons

For many bitcoin investors, the mark of $10,000 is a psychological threshold. Similarly, the $1 mark indicates the same threshold for XRP or Ripple investors. We can clearly see that Ripple’s price has recovered after dropping below $1, whereas the XRP’s price has fallen below $1 twice within the past 2 weeks.

Other cryptocurrencies are also struggling to show signs of short-term recovery. Cardano and Bitcoin Cash have remained constant for weeks and have continued to maintain their positions as the 4th and 5th most valued cryptocurrencies in the market. In the past week, these two cryptocurrencies have dropped significantly, while the other cryptocurrencies have moved in the same trend. Over the last 24 hours, many major cryptocurrencies have suffered losses and also, there’s been a decline in the value of many virtual currencies.

The whole cryptocurrency market has fallen by almost $120 billion and the previous month had been a slump for the cryptocurrency market. Even after the major corrections, the market usually records gains in the mid-term, often on a monthly basis but based on the momentum indicators, daily trading volume, and overall interest, it looks dubious that we’d see a rise in the cryptocurrency market by a large margin in the short-term.

Well, it is a feasible period for many newcomers to enter the cryptocurrency market, but on the other hand, it is not actually the best time to invest in the market. Investment in the market would be an option if it shows some signs of recovery in the short-term, but at this time, the most important thing is to expand the assets and minimize the risks.

What Triggered the Crash?

We’ve seen that the cryptocurrency market was hit with a series of developments and negative news. Even some regions are still struggling to recover from trading ban FUD that was started by the government of South Korean and now, the Indian government.

The cryptocurrency market was typically composed of casula investors and speculators, who’ve been keeping their eyes on the short-term profits. However, the speculators left the market after the slump in the price of most cryptocurrencies. So apparently, the market needs to struggle in order to recover.

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“Bitcoin Will Disrupt Gold” – Winklevoss Twins

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According to Winklevoss Twins, the price of Bitcoin has the possibility to rise up to 4,000%, which will allow the leading cryptocurrency (Bitcoin) to achieve the market cap of $4 trillion. Tyler and Cameron Winklevoss became the very first verified “Bitcoin billionaires” as they were among those investors who first invested in Bitcoin when it had the worth of only $120.

Bitcoin has been auspiciously compared to gold by the Winklevoss twins. They somehow anticipated that the digital asset (Bitcoin) will one day surpass the yellow metal. Also, Cameron Winklevoss said that the recent slump in the price of bitcoin didn’t cause him to dither from his sanguine prediction.

At Milken Institute’s MENA Summit, Winklevoss twins said that they still believe bitcoin solely can disrupt gold. “It’s even better than gold,” they said. Scarcity makes gold and Bitcoin is fixed in supply which makes it more durable, more portable and a lot better than scarce.

 

He said that based on this evaluation, the market capitalization of Bitcoin could end up similar to that of gold, which has the worth of $7 trillion at this time. He anticipated that the price of Bitcoin would set above $320,000 and its market cap would hit at least $4 trillion, and this has made the recent correction of Bitcoin, a striking buying opportunity.

He added, that today’s $100 billion market cap might have been almost $200 billion last week, and that’s what makes it a buying opportunity. The reason that it has got the capital appreciation of 30-40 times is that if we look closely at today’s gold market, it’s got a worth of $7 trillion. Many people have started to see that, and now they distinguish the store of value assets. So, it is still an underappreciated asset despite the fact, that its price has seen ups and downs in the last few weeks.

The co-founder of Winklevoss Capital notified that it’s obvious, this transfer of assets won’t take place immediately, however it could come to an end within the next 10 or 20 years. Tyler Winklevoss agreed with Cameron’s anticipation that “Bitcoin would disrupt gold” and added, that he believes that fiat currency will be eventually replaced by the cryptocurrencies.

He added that cryptocurrencies are not that significant for human-to-human transactions, however in machines-to-machines market economic value, they’ll have to plug into protocols such as Ethereum and Bitcoin. Later he elucidated that, given the innumerable applications of this technology, a lot of critical analyses from Bitcoin sceptics are specious. He concluded by saying, that the criticism of Bitcoin is a “failure of the imagination.”

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Make money with bitcoin

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Make money with bitcoin

Once again cryptocurrency becomes the center of the interest of media and other financial institutions. Earning from bitcoin is not that much difficult. Following are some best ways to earn money from bitcoin.

Mining

Bitcoin mining is costly because of high electricity billing. Therefore, increasing difficulty rate and halving of bitcoin blocks increase the demand. While 21 million is the total supply of bitcoin and mining of coins is still held at large scale with sophisticated equipment. If you are living luxury can easily mint the coins and cash it out.

Mining pool  

Mining of bitcoin through an individual is impossible. If anyone wants the profit over the short period, he/she needs to join the bitcoin mining pool. Miners in the pool are able to use their resources together by sharing their hashing power. Whereas, divide the amount of reward equally according to the share in solving blocks. This platform is also encouraging the small-scale miners to be active in mining activities.

Bitcoin calculation can be complex, due to which pay-per-share offers an instant payout for each share which is solved by the miners. Whereas, in double geometric method operators normalize the payments by receiving a portion of payouts in short rounds and giving back it during long rounds.

Few popular mining pools are;

  • Antpool the largest bitcoin pool controlling 30% of the network’s hash rate.
  • BTCC controlling 15% of network hashing rate.
  • slush pool, the first mining pool containing the 7%.
  • Eligius and bitminter containing the1% hashing power of the network.

Faucets

Most of the faucets are making money websites by placing a different kind of advertisement on their pages. Those, who visit these sites to answer short questions and or solve captchas will receive segment of what the sites collect from advertisement. In most of the cases, each reward timing is about five minutes. Anyone new to the bitcoin can get bitcoin from these faucets.

With the goal to advertise the digital currency among the readers, CCN provides its own faucets. Whereas, CCN will provide the bitcoins free to the reader.

Free bitcoin, bitcoin zebra, moon bitcoin, pocket dice are few Satoshi faucets.

Playing games

A game name oh crop! a game much like plant vs zombies in which player have to defeat the devil plants. Is one the game who come to the bitcoin android space. Where the player receives the payout by watching a video advertisement. There is a number of Sites, who provide the games to earn bitcoin and cash it out in a market.

Reading book is a good habit

PaidBooks.com has the same functionality as the regular faucets have. It pays 400 Satoshi over every 10 minutes with 800 jackpot of Satoshi. This more than free faucets rate.

 Short summary        

There is a large number of methods are available to earn bitcoin free. Once you have bitcoin means you can do transactions through bitcoin or transfer it to fiat money. Above all are few ways of earning money from bitcoin. But be aware of scams.

 

 

 

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Crypto Market Crashes At New Year – Bad News For Investors?

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The crypto market encountered an intense drop this Friday and Saturday. Coins were losing value with only three of the main twenty by market capitalization showing a development of more than 10 percent: Cardano, Qtum, and Neo.

Main Story:

Bitcoin also dropped from a Friday high of $15,266 to as low as $12,350 on Saturday. The previous two weeks have been extremely unstable for the first cryptocurrency, as it has accomplished an all-time high of $20,000 on Dec. 17, 2017, just to hold it for a single day and then losing around 32 percent of that value during the following couple of days.

The most recent fall is the continuation of that trend and there seems to be no recovery in sight as of yet.

Ripple, which has quite recently displaced Ethereum as the most elevated altcoin by market capitalization, has comparably dropped by 20 in the past two days. In spite of experiencing a powerful surge this week, it hasn’t been able to evade the “crypto slaughter.”

Luckily for holders of Ethereum, its drop has been less prominent. A tumble from $769 to $685, constituting only 11 percent loss of value, looks substantially more favorable to the performance of Bitcoin and Ripple. Particularly if you think about the slight recovery of 2.22 percent over the last few hours.

Overall, 2017 has been a good year for Ethereum, as it rose from $8 to over $750.

Other cryptocurrencies such as Dash, Monero, Litecoin, Bitcoin Cash, etc. have also suffered major drops over the weekend. However, the year 2017, for the most part, has been positive for the vast majority of cryptos and the crypto-growth in 2018 is expected to continue in the similar fashion.

 

News Credit: cointelegraph

Image: Google images

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Bitcoin Cash Down By 42% In Single Day – Will It Recover?

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Out of 10 biggest cryptos, Bitcoin Cash took the biggest hit on Friday as its value dropped by ~42% in one day.

Over the previous week, the South Korean crypto market‘s Bitcoin Cash frenzy and the reconciliation of BCH on the CoinBase and its digital currency exchange GDAX prompted a meteoric boost in the value of Bitcoin Cash.

Within seven days, the cost of Bitcoin Cash surged from $1,760 to $4,300, increasing by more than 144 percent.

As allegations against Coinbase’s potential insider exchanging of Bitcoin Cash rose, the cost of Bitcoin Cash encountered a minor revision, from $3,500 to $3,300. Still, a couple of hours later, the cost of Bitcoin Cash crested at $4,300, because of the rising interest for the crypto in South Korea.

For a concise timeframe, CoinBase and GDAX suspended Bitcoin Cash exchanging given its unforeseen unpredictability and suspicious value development of BCH before the coordination of Bitcoin Cash by CoinBase and GDAX. CoinBase CEO Brian Armstrong composed:

“I take the confidentiality of non-public data very seriously as CEO. Given the cost increment in the hours driving up the announcement, we will lead an investigation regarding this issue. If we discover confirmation of any worker or contractual worker damaging our arrangements — directly or indirectly — I won’t falter to fire the person quickly and make a legal move.”

So, Is BCH Going To Recover?

The latest slump in the cost of BCH isn’t just specific to BCH. Each and every digital currency in the market, from the biggest to top 100 have fallen in value. Bitcoin, Ethereum, Litecoin, Ripple, Monero, and IOTA have recorded more than 30 percent slump in cost in the course of recent hours.

Thus, the cost of Bitcoin Cash will probably recoup if the crypto market can recuperate quickly. Throughout 2017, the whole digital money market had not encountered a hit of this size in which each cryptocurrency in the market was influenced.

However, experts have noticed that the current cost adjustment of crypto money was essential, given the exponential increment in value and market valuation of cryptographic money since January 1.

Story Credit: ccn.com

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