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Today, Bitcoin is number one in the cryptocurrencies’ race. But, the recent data shows that crypto market’s share may drop significantly coming year.

There is rising consensus:

More than 900 cryptocurrencies inventions, introduce the transparent and crystal-clear payments process. Few had the work on cryptocurrency border market and on its evolving, special thanks to Abeer ElBahrawy who explores that crypto-market is getting more complex and mature. This market’s growth also bears a notable similarity to an evolution of networks in different areas. By providing insight into digital market’s way, might have changed in future.

Big challenge:

The most important challenge of the cryptocurrencies is to avoid illegal copying. For that purpose, digital currency uses two mechanisms to avoid.

Public record:

The system put out each transaction in the public record. And, store the copies of these transactions online. This allows its users to compare updated accordingly. These prevent the double spending.

Protection of the ledger:

In the second mechanism, the ledger is protected cryptographically. Each update gathers the new coming transactions and adds to the existing ledger. Accordingly, the earlier ledger is frozen and encrypted.

Block:  

This ledger new version creates the block, which holds the copies of the earlier ledger. You have the option to copy the encrypted data to generate a number that has the ability to check the reliability of the block. But its hard to generate that number. This feature makes the system more secure by providing an easy check of the blocks but tremendously tough to copy.

Crypto-analyses:

ElBahrawy do an analysis of the 1500 digital currencies appeared in 2013 and now more than 600 are alive. According to him, the digital market is going in the phase of exponential growth. In addition, its current cost is $54billion out of $60 trillion, the total amount of money of the world.

Distribution power law:

While, when the crypto market is rising speedily. ElBahrawy and his team show the stable aspect of it. Like, if all the digital currencies are alive same as in 2013 as has the market share distribution. This distribution has the ability to reproduce the standard model of evolution. It is a process where currencies’ rates are figured out and die away.

In addition, This law is occurring in almost all the sectors like the same law has to describe the religion in the world, languages of different areas, birth rate and death rate as well. ElBahrawy says, “The fit with the data shows that there is no detectable population-level consensus on what is the ‘best’ currency or that different currency are advantageous for different uses.”

Except for this external significant manipulation of this market, there will be noteworthy multiplicity in crypto-market for foreseeable future.

 

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Exceed of $1M in bitcoin transaction within two months

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Overstock.com, 5 march 2017, overstock noticed one thing after acceptance of bitcoin, that is, people want to use bitcoin for their transaction. Chairman of overstock states, “We did not expect to hit this milestone so quickly, “and “Bitcoin customers are good customers, and we’re pleased to provide them this service.”

About overstock

Overstock is American’s largest internet headquarter. On January 9, 2014, bitcoin became the major retailer, who accept the bitcoin as a payment of its goods. First day sales through bitcoin was USD$ 126,000,

4.33% increase in sales. Whereas, per day sales calculates is $3 million per day.

Powerful transactions

In early January, overstock starts its working to process the payment and handle the conversion of bitcoin into U.S dollars. As a result, 4300 customers pay $1M for bitcoin payments. 60% of customer were new on overstock.com

Bitcoin transactions have a long way. Retailer’s financial statement indicates $397.6 million revenue during its fourth quarter. Just because of this news, overstock trading rises up to 4%.

This was basically an experiment, but with the result, overstock is happy with its decision.

Strangely enough, with the support of bitcoin ecosystem, overstock see significant gains with no drawbacks.

 

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Bitfinex: Hong-Kong Based Crypto Exchange Will Not Support Petro

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On 27th March, a public statement was issued by Bitfinex, in which it stated that the platform won’t be supporting the “oil-backed” Petro token, which was launched in February by the Venezuela government.

Bitfinex

Bitfinex is a Hong-Kong based crypto exchange trading as well as currency-storage platform, which was established in 2014 and since then, it’s been the largest platform for Bitcoin.

crypto exchange

Bitfinex Blog Post

On Bitfinex, the statement was posted:

“The government of Venezuela (“GOV”) has recently introduced the Petro token (“PTR”), which purports to be a cryptocurrency backed by oil.”

In this blog post, which was posted on 27th March, the world’s number four crypto-exchange by trade volume (24-hour), clearly explained their decision, stating the fact that recently, the US had banned all of its citizens from buying Petro cryptocurrency, as well as other Venezuelan digital currencies similar to Petro that could be introduced anytime in future. It was written by the exchange that it perceives the coin as it has limited utility.

“We have never had plans to include the PTR or similar tokens in the Bitfinex trading platform. In light of the U.S. sanctions and the other clear sanctions risks of dealing in these products, Bitfinex will not list or transact the PTR or other similar digital tokens.”

According to the Bitfinex team, the limitations are not only applicable to the US clients, but also to the consumers of the platform. They are also linked to all of the activities on the platform, like;

  • Deposits
  • Financing
  • Trading
  • Withdrawals

The platform also further added that regardless of location, all of its employees and contractors are also banned from transacting in the Petro. This news from the crypto-exchange Bitfinex follows the latest exploratory work by “Time magazine” that connects the Petro cryptocurrency to the Russian government.

There is a huge bank of indications to advocate that this digital currency issued by Venezuelan is a Russian experiment in sanction dodging. According to Time Magazine, Russia have been considering to use cryptocurrency to dodge the sanctions globally, however, they decided to assess the idea in a state, when there’s very little to lose.

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Will Bitcoin Casinos Continue to Grow in Popularity?

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Online Casinos and Cryptocurrency

There was a time when the word “cryptocurrency” raised a lot of questions and doubtful expressions. But with the impressive amount of attention bitcoin and other cryptocurrencies have gained through the media, digital currencies are one thing everyone is shuffling around to get their hands on.

With more and more outlets bitcoin games accepting Bitcoin as a payment option worldwide, including online casino operators. We’re aware that casinos have become a huge business in the industry and the competition there is very fierce. Thus, casinos have opted for a different attraction like offering deposits and withdrawals via bitcoin.

Now the question is will Bitcoin casinos really get somewhere or is this just a waste of time?

A setback that we’re aware of is that there aren’t many online casinos for bitcoin gambling. Unibet, a famous online casino might eventually add Bitcoin to its list of banking options however, that will take its own time since it depends on its demand. Due to this, there are lesser possibilities of bitcoin casinos to be on the rise, although there might be a possibility in the long run.

It’s only fair if we look at the positives and really, there are many. The major reason why customers would definitely opt for online bitcoin casinos is that they ensure 100% anonymity for the player and owner. Cryptocurrencies are completely independent which means that all your personal information is kept safe and never at risk. Another plus point is that with cryptocurrencies you never have to worry about chargeback issues which is a common problem for credit cards.

Also, with normal online casinos, you usually have to wait around for 2 to 3 days for the money to be withdrawn to your bank account. But that’s not the case with bitcoin, your withdrawals are almost instant each time.

When compared to a few minor setbacks, the advantages outweigh the disadvantages. The more the people become aware of these cryptocurrencies the more the demand. It is true though, we need to give cryptocurrencies their space to become mainstream so a number of people take notice and decide to acquire it.

 

Story Credits: livebitcoinnews.com

Image Credits: bitcoingamblingsites.net

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Bitcoin Wallets – What are The Different Types of Bitcoin Wallets?

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The first step to using a bitcoin is obviously to obtain a Bitcoin wallet address. Without it, you can’t send, receive or store bitcoins. So before you get bitcoins, you’ll have to buy, download or create a bitcoin wallet.

Your wallet acts as a personal interface to the Bitcoin network, which stores private keys that give you access to the bitcoins.

A Bitcoin wallet is basically an app, device or website that controls your private keys.

Different kinds of Bitcoin wallets

Different Types of Wallets:

There are different ways to use Bitcoins, so there are different types of Bitcoin wallets as well.

  • Online wallets – these can be accessed on the web from any Internet connected device.
  • Bitcoin hardware wallets – these are physical devices designed to store bitcoins.
  • Software wallets – these are applications that can be downloaded to your phone, computer or tablet.
  • Paper wallets – these are bitcoin private keys that are printed on paper from a computer.

Wallets secure funds by protecting our private keys.

Let’s discuss these types in a bit more detail.

Online Wallets:

Also known as Hot wallets are basically bitcoin wallets that are accessible on internet connected devices like mobile phones, tablets, and computers.

They can be accessed using a user-set password and store your private keys on the web.

Eg: – GreenAddress and SpectroCoin

    

The advantage of using online bitcoin wallets is that they can be accessed from anywhere in the world and are best of regular or frequent transactions. Although, it isn’t the best idea if you’re planning on storing your bitcoins for the long term. There is an issue with the security since the private key is entrusted to an online service, there could be a scenario where the whole database of the service would get hacked and you’d have to say goodbye to your holdings or the service gets hold of your account.

Thus, it is recommended that you opt for online wallets when it comes to more frequent transactions.

Hardware wallets:

These are physical devices built to generate bitcoin private keys offline. They keep private keys separate from internet connected devices and they are maintained in a secure offline environment.

The best and most popular BTC hardware wallets:

  • Ledger Nano S
  • KeepKey
  • Trezor

Hardware wallets are definitely a good choice if you’re considering factors like security and reliable storage of bitcoin. By generating private keys offline, you are able to ensure that hackers cannot access your bitcoins.

Even if the device ends up getting stolen it can be protected using a backup PIN code.

Software Wallets:

These are designed to be installed in computers and laptops. Only you will have access to the private keys that store your bitcoins.

Bitcoin Armory is the most secure, popular and stable software wallet.

Paper Wallets:

One of the safest ways to store bitcoins are Paper wallets, especially if you’re planning on keeping them for the long term. It basically involves printing the Bitcoin address and private key on a piece of paper.

Conclusion

These are a variety of options for you to choose from. It is your decision to choose what you find suitable for the storage of your coins.

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What Are Top 5 Proxies To Access .Onion Sites Without Tor Browser?

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Tor Websites or .onion can’t be simply accessed by the mainstream browsers such as Chrome, Firefox, Safari, etc. Your Internet connection needs to connect with a tor network to open a .onion site. However, the Internet Service Providers or ISPs often square access to tor network or a user who they think might be willing to get to the .onion site without associating with the tor network (Tor bundle).

In this situation, Tor Proxies come handy – Tor Proxy sites let you access .onion site or connections without expecting you to associate with Tor network or install Tor on your PC.

In this manner, you are totally anonymous and subsequently, can access .onion websites over a normal search engine/browser. Down below are the Top 5 Free Tor Proxies through which you can unlock .onion sites without Tor:

Related: A Beginner’s Guide to Tor

  1. *.Onion.to

 

A hidden service gateway to unlocking deep web on a normal browser. To use this proxy, all you need to do is append .to at the end of the onion URL at your regular browser and the site will load without any issues.

e.g. if the onion link is xyzypuo.onion; just add .to at the end of URL and the site will become accessible on your browser.

Related: How to use tor browser on iPhone?

 

  1. *.Onion.nu

 

Another proxy service, just like .onion.to. to access any onion site via this proxy network, just add .nu at the end of URL and your favorite onion site will be no more locked.

 

e.g. xyzypuo.onion.nu

  1. *.Onion.cab

To use this proxy, type http://onion.cab on your normal browser. Once the site finishes loading, type any of your favorite .onion URL inside. You can also unlock Tor sites without having to go to above-mentioned link by simply appending .cab to any onion URL you wish to visit.

e.g. dirnxxdraygbifgc.onion.cab

Related: What are Onion Sites And How To Access Them?

  1. HiddenService.net

Another alternative proxy which lets you access Tor sites without having to install Tor browser on your PC. You can either visit  http://hiddenservice.net to search those sites or add .hiddenservice.net to the original onion link to unblock the site.

E.g. dirnxxdraygbifgc.hiddenservice.net

Note – (While using this service, .onion is removed from the link and is replaced with hiddenservice.net)

  1. Tor2Web.org

Pretty similar to .onion.to. The service is very unstable on tor2web.org. However, if any of the above-mentioned proxies fail, tor2web.org could be your best option to access Tor sites.

Good luck with your deep web venture!

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