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Bitcoin info: An insane rise in the value of the bitcoin is providing a new discussion to the technology world.

A number of people are really wondering about the origin of it, they are puzzled by this phenomenon? surprise how it is physical? how they withhold on it? how bitcoin works? or whether a new bubble like this, is on its way?

Whereas others count that the currency change brings the sans regulations.

If we look back, one Bitcoin was at the value of $0.003 in 2010. Whereas, its value in 2017 raises to $2500. Clearly, means that one bitcoin is equal to the 2500 US dollars. By multiplying the perspectives bitcoin’s value is 879,999 times.

 So, which thing people buy in actual????

On another side, people think about the hoarding of the bitcoins.

One of the trader’s point of view is, “Of course, you can spend bitcoins to purchase items at places where they are accepted. But a lot of traders are buying on speculation because the supply of bitcoin is limited”.
All we know that there is 21 million total supply of the bitcoins and 70% are mined already from the internet. And, a sharp increase of the bitcoin is associate it with “bubble” word.

Billionaire Mark Cuban already admit that it has a worth, it has a value in blockchain technology. And named it as a bubble early in this month.

Few of them relate this bitcoin hype to the “Tulipmania”. A well-known episode in Dutch history 1636-1637.  Where the value of tulip bulb was pushed by the gamblers to rapid heights.

Unfortunately, the bubble burst and bulbs price crashed. The main reason for this crash was, no existence of the fundamental value of a bulb.

But, in the case of the bitcoin, you are free to spend your coin and get goods and services. This scope is continually expanding. Traders of the bitcoin are the well-wisher of this technology and claims that bitcoin’s attractiveness directly lies in its potential.

Furthermore, it is possible that fiat money also doesn’t have original value but it is controlled by the different sources. That is a reason for long-term investment.

Japanese government legalized the bitcoin, it is a live example that cryptocurrencies are making their ways into the mainstream.

Bitcoin is not only one cryptocurrency, which is available with the limited supply. In fact, there are more than 900 digital currencies available on the internet. Whereas, cryptocurrencies are basically decentralized digital money, which is not created by any government or central bank.

Additional tag: Bitcoin stock market

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Bitcoin – A Child poster for speculation

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A Child poster for speculation

13 July 2017, bitcoin is the leading prima donna of the digital currency market. Anyhow, a big wall street bank does not impress by the crypto-storm.

James Faucette leads the Morgan Stanley’s team to hold up Bitcoin BTCUSD. +0.05% as a poster child for assumption although downplaying its potential as a valid currency.

In a report, analysts of the cryptocurrency note that online merchants’ percentage is low from last five years. This is the fact that price of the digital currency increases by 250%.

Faucette says, “The disparity between virtually no merchant acceptance and bitcoin’s rapid appreciation is striking.”

He has the responsibility for retailer’s quick appreciation in case of lack of bitcoin’s appeal, high cost with low transaction process. But unluckily, the main offender may be its rapidly growing worth.

Faucette says, “The ecosystem has focused more on value speculation rather than the foot-leather-eating work of increasing acceptance — way easier to trade speculatively than convince new merchants to accept the cryptocurrency.”

In early June, Morgan warned the cryptocurrencies to join the traditional investment tools. In this context, they need to accept the government oversight. Accordingly, it didn’t persuasive what that would demand.

Meanwhile, until the bitcoin’s regulation introduces, the discussion is over that Bitcoin is an alternative formula of monopoly money. Or, a genuine currency is expected to continue without a definitive conclusion.

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Bitcoin Developing Countries – Top 8 Countries Growing In Bitcoin

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Countries around the world noticed the surge in the price of Bitcoin in 2016. Few countries’ made reforms in the financial market sector and grew faster than others. A large number of Bitcoin exchanges provides the growing data of these countries. In this article, we will read about the top bitcoin developing countries.

Japan: 

After China, Japan is the second highest Bitcoin trading market. Additionally, due to Bitflyer’s zero-fee campaigns yen beat the US dollar in May. According to the well-known platform Bravenewcoin’s data, the exchange has 50% share of Bitcoin market in Japan. This trading volume increases from 1845 to 97,815 Bitcoin on daily basis, a 53-fold gain.

Venezuela:

Venezuela has the money supply problems but Bitcoin demand is still increasing in the country. SurBitcoin is a top and the well-reputed company of the Venezuela but denies to publish its volume data.

Though, country’s trading volume can be examined through LocalBitcoins. Only 22 bitcoins were traded in the first week of the year. However, during the following couple of months, the volume went up to 373 bitcoins before settling down at 223 Bitcoin at the time of writing. The overall trading volume grew by 913% this year.

Indonesia:

Indonesian Bitcoin trading is a fifth top rated market in the volume. It observed a huge spike in trade during June. Quoine  - a Singapore based exchange with 90% of current trade in rupiah was trading at 3,344 Bitcoins at the time of writing, with a volume of 51,500 in June.

South Korea:

Koreans have the option to buy Bitcoin from convenience stores. The networks of these convenience stores use an exchange called Korbit. The exchange hosts over 70% of the Korean won Bitcoin trading volume. Korbit’s volume was 583 bitcoins/day at the start of this year. However, at the time of writing, it has reached 3,168 bitcoins – showcasing a growth of 443%.

Colombia:

Colombia also shows the signs of life on LocalBitcoins by trading 26 bitcoins for a week up to 122 most recently.

Malaysia:

Malaysia’s Bitcoin trading market jumped from 150 to 542 bitcoins on LocalBitcoin last week. A humungous growth of 261 percent. The Bitcoin experts indicate that this major shift is possibly due to the introduction of a new exchange ‘Xbit Asia’ to the market this year.

Russia:

Rubles is the seventh most traded currency for the bitcoins. A well-reputed exchange shows the 121% growth by raising its volume to 5,983. The digital currency is facing different circumstance regarding legalization in the country this year. However, the new Bitcoin startups hold the 50% volume of trade on LocalBitcoin.

Australia:

At the start of this year, the departure of ‘igot exchange’ – a major Bitcoin exchange in the country – the market dropped from 3,850 bitcoins/day to 500 Bitcoin/day. However, the arrival of a new exchange called ACX has restored the market. Currently, the daily trading volume of Bitcoin is over 12,000BTC/day.

These are the major countries using bitcoin making more opportunities for crypto adoption. So, next time someone asks which country uses bitcoin, just link them to this particular article.

Tags: which country uses bitcoin, which country use bitcoin currency, bitcoin developing countries

Chart and image credits: cryptocurrency.com

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Futures Contracts Hold Positive Impact On Bitcoin – Says Mark Cuban

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As covered by CCN, the CME Group, the $51 billion U.S.- based financial institution and the world’s biggest options exchange, is set to open bitcoin for trading by December 18 on its platform. As of late, the Chicago Board Options Exchange (CBOE) is also planning to list bitcoin futures contracts on its platform and Nasdaq Inc. next year.

 

As per Bloomberg, billionaire investor Mark Cuban says bitcoin futures exchanging on such exchanges will positively affect the leader digital currency. He expressed:

 

“It’s going to be interesting. The outcome of it is going to be positive as the transaction fees for bitcoin are relatively higher. If this manages to bring these costs lower, bitcoin market will be in for a huge boost.”

 

Naem Aslam, a market investigator at TF Global Markets in London, added to Cuban’s analysis, saying that exchange costs, including digital money trade fees and custody services charges, could decrease if bitcoin demand grows because of futures trading on these exchanges.

 

Cuban, the majority owner of the Dallas Mavericks and a star on the investing theme show “Shark Tank,” has in the past stated that in spite of being a bitcoiner, he trusted the market was in an air pocket. He later changed his conclusion on bitcoin, as he exhorted “true adventurers” to put 10% of their wealth in digital forms of money – Cuban himself has put resources into cryptographic hedge funds, in bitcoin, and in other digital currencies.

 

Tim Draper, another billionaire who’s gotten over $110 million from his bitcoin ventures, was likewise anxious to see bitcoin futures on these exchanges. In an email to Bloomberg he composed:

 

“Bitcoin is a currency and should be treated as such. It makes perfect sense that a currency should be able to be hedged.”

 

Story credits: cryptocoinsnews.com

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Winklevoss Twins Will Not Sell, Regardless Of How High The Bitcoin Price Goes

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Winklevoss twins, the most renowned bitcoin millionaires, still believe that Bitcoin is one of the finest investment opportunities out there and that they won’t sell bitcoin if its value goes over $300k.

 

Won’t Even Sell At $8 Trillion Market Cap:

In 2012, when Facebook opened up to the world, the Winklevoss twins got $45 million from a settlement with Facebook CEO Mark Zuckerberg. Despite their legal advisors’ proposal to take the settlement of $45 million, the Winklevoss twins received it in Facebook shares. By 2013, the Winklevoss twins amassed a fortune of $300 million, as the shares of Facebook soared.

 

After a fruitful exit from Facebook, the Winklevoss twins began to buy bitcoin at $10, amid a period in which just a handful of investors such as Roger Ver and Charlie Shrem had put resources into the crypto cash. Over the next couple of months, the Winklevoss twins obtained 120,000 bitcoins at an $11 million valuation.

 

Today, the 120,000 bitcoins acquired by the Winklevoss twins are worth $1.68 billion, and the Twins have gotten a benefit of ~$1.7 billion within merely four years.

 

The Winklevoss twins have emphasized that they won’t sell bitcoin even if its market cap surpasses that of gold at $8 trillion or when its price surpasses $380,000. Tyler Winklevoss believes that bitcoin is superior to gold since it is programmable as cash and has many advantages over traditional assets such as transportability, fungibility, divisibility, and security.

 

“In a funny way, we’re not sure if we’d sell it even at $380,000. Bitcoin is better than gold. It’s a programmable cash and may continue to innovate.” Said Tyler Winklevoss in an interview with New York Times.

More importantly, Tyler included that the Winklevoss twins are not influenced by the high unpredictability and rapid value movements of bitcoin because they have faith in the long-term execution of the digital currency and the innovation behind bitcoin.

 

“We are extremely comfortable in high-risk conditions with absolutely no assurance of success. I don’t mean existing in that condition for days, weeks or months. I mean a seemingly endless amount of time.”

 

Story Credits: ccn.com

Image: Google images

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Bitcoin technology is going to save environment

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If you know about the bitcoin. which means, you clearly know about this technology. People use digital currency in the sale or purchase of any commodity or in term of service. Actually, this technology chain is wide and control by the computers forming blockchain.

Now, blockchain is also going to help in saving the environment difficulties. An ecologist at the university of the Agriculture sciences in Riddarhyttan is confident that this growing technology will also help to save the environment.  Science and he have a discussion about the future of the money, government trends and trust of the public as well.

The blockchain is a procedure to maintain the immutable ledger of the transactions. Which decentralization the supercomputers. Accordingly, because of the lack of trust, the environmental problems emerge. Whereas, environmental crisis grows in a fruitful ground. Which is directly the multiplication of intermediaries. For example, if you buy a ring from the supermarket. Here, you just buy a ring, not even know where it comes from. The supply chain of this ring is very long. It is possible that even retailer has not enough information, where the ring came from.

In the same way, the blockchain base supply chain would mean that you buy a ring by scanning QR from your mobile phone. Where you are able to see each step and positive thing is it cannot be falsified.

How blockchain help the environment?   

Blockchain has the ability to change the nature of the ownership. Moreover, in most of the developing countries land rights are not properly distributed as they are in documents. Where the government or a reputed company can easily claim, a land owned by a local community. Whereas, if we put the registry of the same land to the blockchain, which will be immutable. In addition, the real owner of the land will have complete freedom to do whatever with a land.

Blockchain has directly created an influence in policy making. While voting by the blockchain is the secure and organized way to the elections. Now, if you are going to manage an election regarding how to control natural resource. Whether it is a fishery or a forest. You need planning, instruments, ballot boxes and most important thing is to prepare the public to cast vote on the election day.  On the other hand, if you do this procedure of voting through blockchain technology. you’ll free cast a vote from your smartphone with your cryptography identity and strong security.

Furthermore, this technology helps by changing incentives. A blockchain guarantee that an event will happen. That sounds weird, but you enter into a contract with the blockchain. You are free to enter business logics as computer code. Next, when condition met the contract will be executed automatically.

Above all discussion is about how blockchain will help in environmental issues. We need more planning to change living, these are few of them.

Good luck!     

 

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