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Commodity Futures Trading Commission is making a quick move to declare its jurisdiction to police scam in the cryptocurrency trading. Jack B. Weinstein, a Judge of the Eastern District of New York, favoured the CFTC and affirmed its definition of cryptocurrency as a commodity. A notice of supplemental-legal-authority was given to My Big Coin Pay Inc, which is a crypto-services company that got charged with deception and misuse of funds in January.

cryptocurrency trading

This ruling was basically the outcome of a distinct crypto fraud case that CFTC is pursuing against a crypto-trading-scheme known as CabbageTech. Mentioning from that ruling, the notice directs My Big Coin Pay that;

Virtual currencies ‘fall well-within…the [Commodity Exchange Act’s] definition of commodities and the Commission has the standing to exercise its enforcement power over fraud related to virtual currencies sold in interstate commerce.”

The SEC (Securities and Exchange Commission), the IRS, and the CFTC, all have a different meaning of cryptocurrencies at this time and have selected them as securities, property, and commodities individually.

Now for My Big Coin Pay, the Commission asserts that the stable and related parties; Randall Crater and Mark Gillespie embezzled over $6 million from their clients, as well as by transferring funds of customers into their private accounts and later, spending their funds on purchasing their luxury goods and personal stuff.

cryptocurrency tradding

Many novel cases have been also filed by the CFTF in the past months, which includes three linked to virtual-currency fraud. These cases were the first ones that were brought to the commission since it allowed the launch of bitcoin commodities contracts, the past month. The notice also revealed how CFTC is working hard to establish legitimate precedent and potentially provides a vision of how it will endure regulating the industry.

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Thinking of Investing in Bitcoin? You Need to Read This First

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Investing in Bitcoin

Are you fascinated by the incredible rise of Bitcoin? Are you planning on making a Bitcoin investment but always hold due to the lack of essential insight? Then you have come to the right place. Here we have discussed the paramount factors that – as a potential Bitcoin investor – you will need to know.

The particulars we have covered here include:

Why Is Bitcoin Suddenly Gaining Worldwide Popularity?

Ever since the internet took over our lives, everything is becoming more and more reliant on it. And to make online transactions, we needed a currency that was more secure and less exposed to theft.

Several digital currencies tried to claim that spot, but Bitcoin is the only one that emerged as the victor.

The reason behind Bitcoin being the primary mode of online transactions is the security, reliability and complete anonymity that it gives to users.

Bitcoin is open to everyone and is not tied to a particular country; which makes it quite an exciting investment opportunity.

Why Invest in Bitcoin?

A bitcoin is worth well over a thousand USD. It may sound silly to some people but this is what the truth is.

Let’s take an example of gold to understand why bitcoin investment is a good idea.

Gold reserves on our planet are in a limited. The more we mine, the less is left and it becomes harder and costlier to find and mine.

Same is the case with bitcoins. They are finite and become harder to mine over time. Here are some key reasons as to why you should invest in bitcoins.

  • The monitory policy is predictable and can be verified by anyone.
  • Due to this predictability, it becomes possible to know how many bitcoins are in circulation and when new coins are created.
  • They can be transferred to any part of the world without government restrictions.
  • More corporations are starting to accept bitcoin as a form of payment.
  • If you understand Bitcoin, you would know that future belongs to this virtual currency.

When Is the Right Time to Buy Bitcoin?

As with any market, nothing is for sure. Throughout its history, Bitcoin has generally skyrocketed in value, followed minor, steady downfall until it settles.

If you want to understand current market trends and risks involved in the investment, go with the tools like Cryptowatch and Bitcoin Wisdom. These tools help you analyze charts and understand the price history of cryptocurrency.

Lastly, How to Secure Bitcoins?

As with anything valuable, thieves, con artists, and hackers are after your coins, so it’s necessary to keep them secured. But the question is, how to do so?

To gain maximum security, keep your coins in trustworthy wallets, such as Trezor and Ledger Nano S.

  • Trezor – it’s an offline wallet that generates private keys offline to keep your assets secure.
  • Ledger Nano S – a Bitcoin security company. Ledger Nano S offers a wide range of Bitcoin wallet addresss, and the wallets associated with this company are considered to be one of the safest out there.

You can discover more about these wallets on their official sites.

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How To Make A BitCoin Payment Using An Online Wallet Service

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Bitcoin Explained

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Bitcoin

Following the uncertainty of the current world and its unstable economy where currencies face great flux every day, a new economy was introduced under the alias Satoshi Nakamoto. Under the worlds infinite disarray, Bitcoin emerged as a decentralized and a digital cash system with regulated by almost no one.

This peer-to-peer networking system runs through electronic signatures and crypto graphics to generate currency- Bitcoins. Bitcoins are not only a form of currency but also a form of investment for some investors who keep these coins in hopes of an increase in their value and enjoy the opportunity cost.

Mining

Just like normal everyday cash, this currency doesn’t have to be printed and issued by the federals or the central banks. Bitcoins are generated through a process called ‘mining’. These coins are mined out of the system by giving complex and advanced mathematical problems for your computer to solve. The target is to generate a 64-digit number as an answer to that puzzle. When a system solves the given complex algorithm, it obtains a specific fraction of Bitcoins every time.

The bitcoin network automatically sets the difficulty level of the mine to be mine next. On average, there are around 25 Bitcoins mined every 10 minutes. During the process, only a set number of Bitcoins can be mined during a certain period. After every four years, this reward is halved. Currently, it is up to 12.5 Bitcoins for every mathematical problem solved.

Limited Supply

Fiat currencies have an unlimited supply and their value can be easily manipulated anytime by the regulatory bodies. Given its independent nature, Bitcoin has tightly restricted supply controlled by the underlying algorithm of the system. There is a set number of coins that can ever be mined ever. A total number of 21 million bitcoins exist in the system.

Bitcoin at its peak has managed to engage the market by over 2 million dollars. The lowest has been $2. Today the value roughly swifts around $9,000.

No economy supports the sudden fluctuations in the system. Too much too fast will result in the dropping of the value of the currency. Too much too slow will cause the economy to halt. Due to these reasons, Bitcoin has a self-stabilizing system to regulate the economy at the most favorable grounds.

Exchangers allow the holders to transfer and buy or sell these Bitcoin crypto coins among other users. One of the famous platforms is Bitstamp. This allows users to buy Bitcoins in fiat currency and also enables them to sell them to other potential users. Bitstamp enables users to store the coins too as e-wallets. But beware of the hackers, as they can dangerously destabilize these digital economies.

With the gradual growing influence of these cryptocurrencies in the world today, a lot of applications and platforms have shown loyalty to the Bitcoin. Platforms like WikiLeaks and WordPress have started accepting bitcoins as means of their payments and transaction currency.

MintChip

Inspired by the Bitcoin, the Canadian government has launched a similar cryptocurrency named, MintChip. This electronic currency is backed by the government, unlike the Bitcoin.

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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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Famous and rich people’s reviews about bitcoin

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Famous and rich people’s reviews about bitcoin

Reviews about bitcoin is the most interesting topic ever. As we know that bitcoin has its own worth. In that case, richest people of the world are not dumb. They know the trend of the financial markets. In the same way, richest people of the world seems interested in bitcoin technology. Some of them also give positive reviews about bitcoin world and do some transactions.

Few perks of bitcoin review are, no banking agony, no transaction’s fee even less inflation. In this article, I’ll tell you about the reviews of richest persons in the world about bitcoin technology.

Bill Gates

The founder of Microsoft and the richest person in the world said that ‘’ bitcoin is better than the currency “which means he accept the bitcoin. As we know that Bill Gates foundation works on the serious social issues of the society.

As he said, they help to poorer how to have no excess to the banks. Ironically, if they have, then transactions fees don’t let the enough amount. In that scenario, they need to send and receive money in an easy way. For example, everybody in the world knows the use of mobile phones. People know how to utilize themselves with this technology.

The only solution of this inflation is the use of digital currency. Bitcoin is the most dominant contestant in the list of digital currencies. He completely focusses on the present situation of poorer. His reviews about bitcoin are, “Bitcoin is exciting because it shows how cheap it can be. Bitcoin is better than the currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.” Which clearly proves that next era is bitcoin era. Including banks and financial institutions are going to change infrastructures as well.

Warren Buffett

He is the second richest person in the world. CEO of Berkshire Hathaway stats ‘’ yeah it is a very fast money order anonymously’’.

Dr. Eric Schmidt

He is executive chairman of Google and also holds a Ph.D. in computer science with the wealth of $8.3 million. He admires that the currency with no duplicate in digital currency, useful for many computer applications. In fact, most of the people do business with bitcoin. Which clearly means that people’s trend about payments and buying goods has to change to the digital system.

As he states, “Bitcoin is a remarkable cryptographic achievement and the ability to create something that is not duplicable in the digital world has an enormous value”.

Richard Branson

He is a founder of the virgin group comprising more than 400 companies. Richard seems to interested in bitcoin investments and also support it.

He clears the thing that bitcoin is the future.

“If people have lots of bitcoin and they want to go to space, I much rather they spend that money on a spaceship.”

Conclusion

Above discussion describes the trend of a financial market about bitcoin. A large number of richest persons are interesting to invest in bitcoin.

Tags: how to make money with bitcoin

 

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