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It’s Official!

Looks like Bitcoin’s three-year civil war is finally nearing its end now that SegWit has locked-in. However, it won’t officially lock-in until tomorrow, once the signaling period has ended. The network will transition into a “buffer week” for a few weeks where users and miners will be given the opportunity to upgrade their software. Seemingly, after August 21, SegWit will activate and miners will begin to reject blocks that do not support this change.

Segregated Witness was first proposed in December 2015, by Bitcoin developer Pieter Wuille. SegWit is expected to fit in more number of transactions in each 1MB block thus reducing the congestion on the network. This has been a conflict within the bitcoin community for quite a long time but it appears to be finally resolved.

Also, other communities like Litecoin activated SegWit last spring.

 

News credit: coindesk.com

Image credits: gadgetsnow.com

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Will Sam Ling Beat Warren Buffett With Cryptocurrency?

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Chinese entrepreneur Sam Ling and his partner spent 2.35 million US Dollars in 2015, on a bid on a private lunch with one of the richest man in the world. This richest man was no other than Warren Buffett, whom Sam Ling still considers his idol. The main purpose of such a costly and unusual lunch was that they were hoping to get some real time advice from the legendary investor in terms of their cryptocurrency index project which could lead to nourish their future investment plans in the same direction. Even today, the 31-year-old Sam Ling still uses the photo of that memorable buffett as his phone’s wallpaper to pay a debut to the legendary Warren Buffet however, his present day intentions are quiet thrilling as now he has a motto of beating his hero on the sticky grounds of cryptocurrency.

cryptocurrency index fund

In Spite of such “Deadly” intentions, Sam Ling, now founder and CEO of Supwin Financial Services Group exclaimed in his interview with CNBC that Buffett is still his idol, he has been pursuing and studying his investment strategies for so many years just as a loyal fan of his without any ill intentions.

 

In fact that loyalty of Sam King did not stop him from betting even something bigger than his last bet on Buffett. According to Sam’s opinion the world’s third-richest person Warren Buffett will come to a bad ending due to cryptocurrency index fund.

What Did Sam Learn From Warren Buffett?

Many people have asked that question from Sam Ling which also seems to be a key to his present day success. The answer of Sam to that question is very simple, If there’s anything really learned from Buffett, it was just an appreciation for index funds. Ling, however, innovated that outlook to his own concept of digital currency kingdom.

 

The term cryptocurrency index may be new for some our readers as it is not commonly used. The fact is that most of the cryptocurrencies i.e; bitcoin are too much unstable to become a trusted mode of investment, and that’s why investors like Sam Ling have started to launch cryptocurrency indexes of their own in order to bring their crypto investments to a relatively safer mode. It has been noted that over the past few months, Sam Ling’s cryptocurrency index has a lower decline rate as compared to the bitcoin. That ratio pertains to the corrections, on the other hand outperformed bitcoin by 50 to 80 percent during upsurges.

Further Progress By Ling

Ling has not stopped yet, he has finalized his plans to launch the “BB Index”, which is an advanced form of that kind of index and will consist of a family of 26 cryptocurrency indexes. These indexes would be further grouped by market capitalization according to their categories and strategy. These indexes would range from a “Blockchain Top 7 Index”  to a “Blockchain Top 50 ex top 20 Token Index”.

 

The major difference between these two kinds of Blockchains is that the “Blockchain Top 7 Index” covers the largest cryptocurrencies while “Blockchain Top 50 ex top 20 Token Index” is used to represent mid-cap assets. All these indexes are updated every three minutes on the company’s official website according to Sam Ling.

A Summary Of Buffet’s Conversation With Ling

Later Sam Ling shared a summary of his conversation with Buffet. He related that Buffett discussed a lot of core issues with him and his friend during that precious lunch, but in the end, he just gave them a piece of advice that they should focus on what they were doing and were already successful at. Ling further recalled the conversation which took place ten years ago in which Buffett made it clear that he believed in the craze of cryptocurrencies which will not come an end and will keep on increasing with the passage of time.

 

When asked what were his thoughts about the fate of cryptocurrencies, Ling exclaimed that in his opinion cryptocurrencies would meet a very bad ending and those who are investing in it including his idol Buffet, they would have to pay for their overconfidence.

 

On the other hand Ling also stated that he was quiet confident that the BB Index devised by him would even beat traditional crypto investor including Buffett. He further stated that Warren Buffett just won a 10-years bet stating that an index fund would outperform a collection of hedge funds over that time. Now, Ling has a bet that his cryptocurrency index will outperform Buffett’s portfolio over the same period of time.

 

According to a correspondent of CNBC when they reached out to Warren Buffett’s office in order to know his views in this regard, they could not receive any satisfactory response.

 

We are waiting for your worthy opinion in the comments section below.

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Expected Blockchain Support By Cloud Computing Giant Salesforce

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Salesforce is a world famous company well known for its cloud computing software. It provides services related to customer relationship management in various industries, including healthcare, finance, media, retail, and manufacturing. The revenue generated by Salesforce in the year ending January 31st was $10.5 billion. And now Salesforce is ready for its blockchain integration with a brand new idea.

blockchain and cryptocurrency

Parker Harris, the co-founder of cloud software giant Salesforce has confirmed that his company is hoping to develop a product for Blockchain and cryptocurrency support by September 2018.

The same news was being disclosed by CEO of Salesforce Marc Benioff in an interview with Business Insider on March 28. In that interview he also stated that he had finalised this plan to work on Blockchain technology and various forms of digital currency while he had a chance to participate in the World Economic Forum Davos, Switzerland last January. It was simultaneously being held with a cryptocurrency conference, where Benioff’s conversation with another event attendee transformed into the above mentioned idea according to which Salesforce could actively participate in the utilization of blockchain and cryptocurrency into its current operation.

 

He further added that he had been thinking about various ways through which Salesforce’s strategy around blockchain and cryptocurrencies could be finalized.

What is in Benioff’s Mind?

There were a lot of things which the company CEO did not reveal about his forthcoming product in his interview. However, he stated that he was planning to have a blockchain and cryptocurrency solution for Salesforce and for all its clients.

 

However, in a recent briefing for its Configure-Price-Quote (CPQ) software, the company appreciated the revolutionary blockchain technology for verification and maintenance contracts and automation of trust.

Salesforce is not Alone in this Race

In the past Blockchain was just used as a decentralized ledger to log all cryptocurrency transactions, but now its definition has changed. Now a great number of applications and technologies have a strong connection with it. In the present context,  blockchain keeps or is used to keep record of every digital transaction and exchange which might be in the form of goods, services or private data of any sort. With the passage of time it has been transformed into a global spreadsheet running simultaneously on millions of computers around the globe. The beauty of this technology is that every single individual connected to this peer-to-peer system can see all transactions being made, hence there is no need for a middle man.

 

It is clear that the involvement of Blockchain technology is getting deeper and deeper day by day and no field of life will be functional without it.

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A Brief Guide on How to Use Bitcoin

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How to Use Bitcoin

Plenty of people who are new to the concept of Bitcoin often ask “how do you use Bitcoin?” and the answer to this question is not that easy because Bitcoin works in the same way as traditional currency. The only difference is that it exists in the form of code and stored on High-Tec computers.

Since the majority of visitors who come to our site are freshies and looking to learn as much as they can about Bitcoin, we will provide a quick guide on how to use Bitcoin.

Start with A Bitcoin Wallet:

The first and foremost thing needed to start your Bitcoin venture is a Bitcoin wallet. There are several types of Bitcoin wallets, but Coinbase or Blockchain are the friendliest ones, especially for those who are new to Bitcoin world.

A Bitcoin wallet works the same way a software (Yahoo, Gmail, etc.) does for receiving emails or a traditional bank account does to send or receive money. But in this case, only Bitcoins are stored in the wallet.

A wallet comes in the form of a software and allows you to send, receive or store the cryptocurrency.

In order to receive Bitcoins, you are required to give the sender your Bitcoin address which starts from 1 or 3; followed by a string of random numbers and letters.

Here’s an example of a bitcoin address: 1GrwYYTDJic27cstVCjzS8Muvutw6JUYqB

Get Some Bitcoins:

Once you have your Bitcoin address and a wallet, all you need is some coins. wondering how to buy coins? check out our guide on how to buy bitcoins from PayPal in two minutes. Apart from PayPal, there are several other methods too. However, the cost will vary based on which method of payment you choose – reversible or irreversible.

The reversible payments (credit card, PayPal, etc.) cost more than irreversible ones (bank/wire transfer) due to the risks involved in the transaction.

Now that you have bought coins, it’s time to put them to good use.

How to Use Bitcoin?

The number of companies starting to accept Bitcoin as a method of payment is growing each day. Some top-notch companies like Microsoft, Overstock, Virgin Galactic, etc. are now offering their services in exchange of Bitcoin.

You can use your coins to buy virtually anything through a Bitcoin debit card. The card also gives you the freedom to shop physically at all the Bitcoin-accepting stores.

If shopping isn’t your priority, make an investment of your Bitcoin assets. There are several ways in which you can invest your coins. Following are the most common ones:

  • Bitcoin trading
  • Holding on to them
  • Getting mining equipment

But before you make an investment, remember that Bitcoin investment can be a risky business due to high volatility in its value.

Another use of Bitcoin is to open an online store and set Bitcoin as an additional method of payment. It will not only give you an opportunity to earn bitcoins but will also provide an extra payment option to your clients.

Lastly, your coins can be used to settle a bet, pay back a friend who bought you dinner or return a loan. In conclusion, Bitcoin can do almost anything that traditional currency does. The only difference is that Bitcoin exists virtually and is relatively new in the market.

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A Guide on Accepting Bitcoin Donations Through Your Blog/Website

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Accepting Bitcoin Donations

Bitcoin is a relatively new digital currency which is used in making online transactions between two individuals. The currency is considered to be the most efficient and safest form of online payments. (Learn how to pay with Bitcoin online)

Bitcoin can be used as a method of payment on several platforms but is most popular on the gambling websites.

Bitcoin functions not only in the form of payments but you can also make earnings through Bitcoin donations if you run a website/blog.

Nonetheless, when it comes Bitcoin donations, the most frequently asked question is: “How to accept Bitcoin donations” because accepting Bitcoin website donations is becoming more troublesome as the number of individuals shifting to online payment methods keeps on growing each day.

How to Accept Bitcoin Donations?

You can accept Bitcoin donations in the form of your local currency, such as USD, Euro, etc. The donations are similar to those of fiat currency. The only difference is that Bitcoin only exists virtually, while the traditional currency can be directly sent to your bank account or handed to you in person.

Currently, there are only 12 million bitcoins in circulation, most of which are held by the businessmen.

Also, there are plenty of efficient tools that convert traditional payments into Bitcoin. For this, all you require is a Bitcoin extension.

What Are the Methods in Which You Can Accept Bitcoin?

Normally, there are three ways to accept Bitcoin donations. The methods are discussed below briefly.

  1. You can make/accept variable amounts of donations using an image link. The link supports a specific donation and a Bitcoin blog link. Then you will need to place a Bitcoin QR code on your website which will allow users to make donations using their smartphones. To ensure a Bitcoin donation, you must maintain a secure environment.
  1. An alternate option to accept Bitcoin donations on your site is a donation counter. The counter helps your visitors how many donations you have received so far as part of the campaign. The counter can also be used to indicate a time frame and a standard amount of the donations a user might wish to place.
  1. Another way to accept Bitcoin donations is to add payment buttons on your site. A visitor who clicks on the payment button is taken to an interface which can be controlled until the bitcoin payment is received.

Last Word:

Bitcoin donations must take place under a safe environment, so make sure your site is safe while trying to make a Bitcoin transaction. The standard website security requires you to have complete control over all the transactions made through the website.

Bitcoin addresses are vulnerable to security threats. Lack of security could result in a donation being directed to an unwanted party.

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