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There is not much awareness conveyed to the public than the Cryptocurrency. Cryptocurrency which is an alternative to our fiat currency and banking system. The first ever cryptocurrency invented is Bitcoin which hold the title of new gold in the crypto industry due to its overall minimal value. Cryptocurrency differs from the conventional currency and banking system as it doesn’t depend upon the any country’s economy or its centralized banking system. After its introduction as Bitcoin in 2009 it reaches new heights and at the end of March 2018, the bitcoin was trading about 10,000 dollars as it started from 0 dollars. That huge rise in trading also increases its demand in the general public and even businessman. Every one lured with the huge profit of cryptocurrency and starting to invest in this cause.

cryptocurrency business

As Cryptocurrency is a digitalized way of payment and it acts as a decentralized system from the other conventional banking system, so there are several cryptocurrency facts that every person should know before investing in the cryptocurrency business. It is difficult to ignore the high rise in the price of cryptocurrency but before investing in the cryptocurrency business everyone should go through the following facts.

Cryptocurrency Facts

The Cryptocurrency is a digitalized currency in which there is a value assigned behind every digital token. But there are some facts which should be known to every investor starting to invest.

  1. De-Centralization
  2. High risk of loss
  3. No Fundamental Assistance
  4. Highly volatile
  5. High Prices due to legalization

De-Centralization

The most important fact about cryptocurrency is De-centralization that differentiates it from other centralized banking systems. De-centralization means there is no legal boundary or any regulations regarding the purchase and sale of cryptocurrency. The data of the cryptocurrency is not stored in any designated place so there always remains a high chance of loss in the crypto business.

High Risk of Loss

The threating feature about the cryptocurrency is having a risk of losing all because of following factors which are mentioned below

  1. No regulation
  2. Not having proper scrutiny
  3. Continuous change in prices

It means that you can lose all of your money you have invested in the cryptocurrency business because of improper regulation and exemption from the centralized system. The continuous change in prices tends to play a huge factor in the increasing chances of losing all of its investment.

For Example, if a person buys bitcoin today worth of 100,000 dollars but suddenly the very next day the prices of bitcoin lowered due to certain reasons causes a huge loss to the upcoming investor.

Not fundamental Assistance

Most of the countries in the world doesn’t support or give financial assistance to the cryptocurrency users and as a whole crypto-industry. There are no physical factors which help the regulatory authorities to derive its actual and proper value. The value of a currency depends upon the GDP of that country but as cryptocurrencies have no fundamental ties that make valuing of cryptocurrency difficult.

Highly Volatile

Cryptocurrency is highly volatile due to the fact that they don’t depend upon any centralized system or centralized exchange system hence they work on the multiple exchanges that create the high difference in the value of these currencies and that is the indication of volatility that should be kept in mind while trying to buy cryptocurrencies.

High Prices Due to Legalization

The most common factor in the increase of prices of these currencies is the legalization of these currencies in certain countries in the world such U.S.A and Japan. There is a sudden increase in the price of cryptocurrency when Japanese made it a legal way of payment.

Another factor which due to which the prices are so high are the crypto funds. Some initial startup offer bitcoin in return high cash for their assistance.

In the end, Cryptocurrency has many advantages and disadvantages over the centralized banking system and the high prices and instant profit lure many businessmen to start their own cryptocurrency business but before investing in the business everyone should know the certain cryptocurrency facts and go over them

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Does Bitcoin Need Regulation? Top German Analyst Says It Does

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At a time when bitcoin surpasses $17,900 and its market cap nears the $300 billion mark, regulations are apparently turning into a popular way for governments to cope with its existence. Recently, A German financial specialist Clemens Fuest expressed there are “solid reasons” to control digital currencies like bitcoin while talking to CNBC.

Main Story:

Fuest, the President of the Ifo Institute for Economic Research, stated that the market shouldn’t be permitted to fly individually, as according to him there’s a case for controllers to investigate bitcoin because of financial security and monitory policy, as well as its use.

Amid a telephone call, the German market analyst brought up that, with the cryptographic money, “payments can be made with almost no supervision” and suggested that this implies the digital currency can be utilized for tax avoidance or illegal activities.

Fuest also added:

“I think there are solid reasons, beyond monetary arrangements, to regulate bitcoin more closely.”

Fuest’s words come at a time in which the stock trade administrator Deutsche Borse is apparently considering whether to make Germany the primary European nation to list Bitcoin Futures Contracts on a regulated platform, and in which regulators are cautioning investors about the potential dangers of putting resources into digital forms of money and ICOs.

A European Central Bank council member Ewald Nowotny recently expressed that national investors and administrators are peering toward digital money regulations. Nowotny’s remarks came when bitcoin was trading at a then untouched high of $8,100 and included that investors must comprehend the item as “it resembles buying shares on stock market… individuals investing in this item can suffer losses and if that happens, they simply need to acknowledge it.”

Fuest isn’t the only analyst that communicated his perspectives on bitcoin. A month ago, Nobel prize-winning financial specialist Joseph Stiglitz stated that bitcoin “should be banned” as, according to him, it “doesn’t serve any socially useful function.” Earlier this month Nobel laureate Robert Shiller anticipated a bitcoin crash, stating that it “won’t go to zero, but will come down.”

However, not everyone is bearish on bitcoin and other cryptographic forms of money. Israel’s Prime Minister, Benjamin Netanyahu, an MIT graduate and former financial expert, recently questioned whether or not bitcoin can crush banks. John McAfee, a cybersecurity pioneer, raised his bitcoin value target for 2020, making it $1 million – and even bet his masculinity on it.

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Bitcoin Market Cap Hits $52 billion for the First Time Ever

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Bitcoin investors get apprehensive as Bitcoin’s value surpasses $3000, hitting a new record within a week after the split.

According to CoinDesk.com, Bitcoin climbed to $3,360.87 on Saturday and by Sunday, it had settled down to $3,286.87 while pushing bitcoin’s market capitalization past $50 billion for the first time ever. It’s market cap now lies at $52.3 billion at press time.

The reason behind these price jumps is the launch of Bitcoin Cash, which is a new version of the cryptocurrency. While Bitcoin’s price did have a 5% drop during the initial days of the new currency, it rapidly recovered. Previously in June, Bitcoin had hit the $3000 however, it fell 20% soon after.

As expected, market volumes have increased along with the price due to the increase in trade volume within the past couple of days and by the looks of it, Bitcoin is back and better than ever.

 

bitcoin image via atlanticbase.com

rocket image via Science Learning Hub

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Social Media Platforms Banned Crypto-Related Ads- Did It Affect the Cryptocurrency Market?

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Recently, major social media sites, including Twitter, Facebook, and Instagram have banned ICOs (Initial Coin Offerings) and cryptocurrency advertisements, whereas Google is going to introduce the same regulations from June 2018. The series of bans have damaged the crypto-market, certainly. However, few experts claim that the restriction might lead to the industry’s legitimization.

social media sites

Ban on Cryptocurrency Advertisements

Facebook

Facebook announced it in a blog post, on 3rd January, that it will be banning advertisements that use deceptive promotional techniques, specifically mentioning the cryptocurrencies as well as ICOs.

Certainly, this move by Facebook seemed to agree with the US SEC’s (Securities and Exchange Commission) public announcement about the crypto-related investments and ICO. In the statement, Jay Clayton (SEC chairman) advised that the trend of deception and manipulation is growing day-by-day in the ICO and cryptocurrency markets due to their mounting popularity. However, Clayton also alerted investors that no ICOs were registered with the SEC.

Google

Soon after the reports from crypto advertisers related to the suspensions and account deletion of Adwords started to circulate, on 14th March, the company announced that all crypto-related advertisements will be banned by it, no matter whether they are wallets, exchanges, and ICOs. Google also announced that it will pull the crypto-mining extensions from its Chrome Web Store as well.

Twitter

The rumours about twitter banning all crypto-related advertisements were confirmed on 26th March as the social media giant twitter banned advertising only for ICOs and token sales. According to the policy, the ban was imposed on wallet services and cryptocurrency exchanges, unless they are public firms or are registered on major stock exchanges.

Snapchat

A report related to Snap Inc. (the company behind Snapchat) was also confirmed that since February, the company has been silently banning ads for token sales, however, its future plans related to rest of the cryptocurrency ads are unclear.

Did the Bans Affect Cryptocurrency Market?

  • After the announcement of Facebook about crypto-related bans, Bitcoin collapsed from $10,000 mark to $6,914 however, it managed to come back.
  • When Google announced its plans to ban crypto and ICO ads, the price of Bitcoin dropped below $8,000and loss 9% of its value.

After Twitter’s announcement to ban crypto-related ads, Bitcoin fell below $7500 on March 29, which shows that the bans have affected the overall cryptocurrency market.

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What Is Bitcoin Hard Fork? The Most Intriguing Bitcoin Topic Explained!

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To begin with, Bitcoin has been the talk of every news channel, tabloid, website, etc. for a long while now. It’s increasing popularity might’ve caused a little problem for the network. Bitcoin is in a messy situation right now and something needs to be done. Fortunately, two possible solutions have been proposed as well, but only one can exist.

What is Bitcoin Hard Fork?

It is a compulsory software update that is required in order for the program to function.  It can be implemented to fix bug errors or any security issues present in the older version of the software. Also, a hard fork is irreversible.

The “hard fork” will split the blockchain, leading to the introduction of a new chain of transactions branching from the original one.

Bitcoin Fork Explained – What’s The Issue?

In simple words, Bitcoin is unable to withstand the number of transactions taking place on the network.

The technical explanation is that the 1MB block size limit which is programmed into the system has become a problem and is causing delays in the processing of transactions. Basically, a purchase can take from a few minutes to hours to confirm.

Two techniques were proposed, which result in two different solutions: Bitcoin Unlimited, and Segregated Witness. They’re both proposed software updates to the Bitcoin network with the aim to completely change the way Bitcoin functions.

Obviously, the two can’t coexist, that would “fork” the Bitcoin network – splitting it into two different digital currencies.

A fork is known as a software update. Basically, updating a program from an old version to a new one to fork bitcoin.

Bitcoin Unlimited:

Starting off with Bitcoin Unlimited, this proposal is favored majorly by Bitcoin miners. To understand this, you must know the concept of Bitcoin mining. Bitcoin miners use specified powerful computers to solve complex mathematical algorithms in order to verify a transaction and be rewarded with newly issued bitcoins.

We are aware that there is a built-in block size limit of 1MB in the Bitcoin network, however, BU gives miners the permission to vote on increasing the block size whenever they want. This gives them control of the Bitcoin network, due to which they’re favored by miners.

Segregated Witness:

On the other hand, SegWit is being voted by many Bitcoin enthusiasts and developers. Their aim is to optimize the Bitcoin coding in a way that allows them to decrease the transaction size and increase the transaction volume, all while sticking to the 1MB block limit. They suggest the use of a soft fork.

A soft fork is a software update that lets the network to adapt to the new functionalities and features implemented. The update doesn’t interfere with the existing software and the older version will still be usable.

When is Bitcoin Hard Fork Happening?

Every Bitcoin user around the world is anxiously waiting for August 1st– a day that will mark the history of bitcoin. No one really knows what to expect but we are all eager to know what will be the fate of Bitcoin. We’re approximately 2 weeks away from the big day so let’s reflect back on the possible end result.

On 31st July, the activation of SegWit2x is set to take place. SegWit2x is a proposal that will enact SegWit through a Soft Fork but will increase its block-size limit by Hard Fork after three months. So, basically, SegWit2x will be introducing Segregated Witness first which will follow a 2MB block-size increase three months later.

Moreover, SegWit2x has the support of major mining pools which means it’s backed up by miners.

What Will Be The Bitcoin Hard Fork Consequences?

When the 2MB hard fork is scheduled to be introduced, there are chances of a chain split to occur cause of the soft fork. This, in return, would lead some part of the community jumping on to SegWit2x while others remain on SegWit.

This can create a very messy situation as there would be two different kinds of Bitcoin present. The last thing we’d want is to damage Bitcoin, particularly since there are high chances of two competitor blockchains existing simultaneously.

What Should I Do in Order To Prepare For August 1st?

You’re advised to move your bitcoins to a private wallet, where you solely are in charge of your private keys. Also, be sure to do this before July 31st, and remain until storm calms down. We are not aware of what is in store for us on August 1st or the day after, and the future is a total blur. So, let’s sit back and watch the calendar hit August.

Who Will Be The Winner?

Aha! Too bad we can’t answer this question because half the community goes for SegWit and the other half for BU. There’s not really much we can do, just voice out our opinion and educate others with whatever we learn and maybe help them come up with opinions of their own.

We’ll just have to patiently wait and watch how this turns out.

I’d like to point out that I have a very limited technical knowledge and only know my way around a few technical terminologies. This post is a compilation of weeks of research that I’ve put together myself. So, if you do find any errors, do let me know in the comment section below and I’ll be sure to check.

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‘Clearly Canadian’ Is Now Accepting Bitcoin!

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Clearly Canadian accepts bitcoin

Brand History:

Richmond Hill, Clearly Canadian is a well-known brand in North America. Basically, it is a multi-SKU premium beverage brand, produced by The Clearly Food & Beverage company of Canada. The brand history started in 1987 in British Columbia, Canada. Therefore, it is well known in North America, Scandinavia, and also in different places in Europe and Japan. Clearly Canadian is the 30-year-old company whose production is very famous across the globe. Now, they are going to accept the payments in Bitcoin Canada.

Bitcoin’s Time:

Clearly Canadian knows the evolution of digital technology. At the same time, keeping in view the market trend. The company is going to starts pre-sales to the Bitcoin world. As the Clearly Canadian’s Bitcoin campaign manager Mitch Callahan says, “Just as Clearly Canadian pioneered the new age beverage industry in the ‘80s and ‘90s…bitcoin, in a much more profound way, is poised to change how we all transact business on a global scale and in our daily lives. Clearly Canadian finds that truly exciting and we are proud to be a new emerging member of the bitcoin community.” In addition, manager says, “Online virtual currencies are clearly here to stay – no pun intended”.

Related: Buy Bitcoin  Canada online in few easy steps

The worldwide consuming brand needs high production. Whereas, the company producing exceed in 5 million cases annually. Clearly, Canadian managers said, “We’d like to pre-sell at least 25,000 cases of Clearly Canadian online to the global bitcoin community. personally, I hope we double, triple or even quadruple that goal.  Let’s see what happens. Pricing will be in dollars. Whereas, a transaction in bitcoins through BitPay.The leading Bitcoin merchant processing platform. We have a wish to be a long-term merchant in Bitcoin transaction consumer goods. Hopefully, the new currency’s volatility will remain low facilitating greater adoption”.

In response to Canadian manager’s statement. CEO of BitPay Toni Gallipi stated: “Having a globally recognized consumer brand such as Clearly Canadian Bitcoin join the Bitcoin community is a powerful statement about the increasing popularity and growing base of Bitcoin merchants and users. Many are watching the Bitcoin market closely.we hope that this is the first of many established brands. That see the benefits of adding bitcoins to their payment options. We are happy to have Clearly Canadian on board. Accordingly, wish them very best of success in its campaign”.

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