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US whistleblower Edward Snowden has shown deep concerns over the long-term existence of Bitcoin. He talked about the long-term prospects related to Bitcoin in his latest interview. According to him the use of public Blockchain has made the cryptocurrencies vulnerable to misuse. Before considering his point of view, many readers would sure want to know who really Edward Snowden is and why should we value his discussion about Bitcoin and its future aspects.

Bitcoin ledger

Who is Edward Snowden?

Edward Snowden is a former Central Intelligence Agency (CIA) employee. He is a computer professional and is well known for being the NSA-whistleblower. He earned international fame after revealing NSA’s surveillance agenda. And now he thinks that Bitcoin has a serious problem. According to him the Bitcoin ledger is extremely vulgar to public and it is not dependable in the long run.

Addressing a large gathering at the Blockstack event in Berlin, Snowden said that no doubt majority of people have their full focus on Bitcoins, pertaining to its transaction rate limitations. Edward stated that the long-lasting flaw of Bitcoin is its public ledger.

Why is Public Ledger not dependable?

When asked that how he could decide whether the public ledger had such major drawbacks, Edward explained that the idea of a public ledger might be a nice one but it is not so much compatible with the local trade mechanism for trade. According to Edward we cannot have a lifelong history of purchases made by everyone neither can such be record maintained for long in the form of public ledger. The most fearing thing about a public ledger is that it always has a threat from the government. Without proper government control no one can be sure what may happen after sanctions from the government arise.

When Edward was asked about a solution he stated that Bitcoin was once considered as the safest way to pay for anything on the internet –  the main reason behind it was its anonymity. That’s the reason it was considered as the most favorite currency on the Silk Road platform. Furthermore, it was therefore used as a favorite tool for money-laundering and funding terrorist activities. However, Edward disclosed in his above-mentioned discussion that Bitcoins are much more traceable than any of us will bother to believe. Every wallet on the Bitcoin network has an address which acts as an identity and can be easily used to trace all the activities related to that specific user.

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Coinsquare Launches TV Advertisement Campaign

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Coinsquare is a Canadian crypto exchange which has launched its very first television commercial, as it’s looking forward to extend its customer base before divulging to public by the end of this year.

initial public offering

Coinsquare Advertisment

The exchange, Coinsquare is sometimes called “Canada’s Coinbase” and has launched an ad on Monday that will start running on television later this week. According to the advertisement, Coinsquare is the most secure platform of Canada for trading cryptocurrencies, and also, the advertisement attempts to initiate the reputation of exchange as a reliable and trustworthy option to the scams and other warning tales that fill the space.

Also, the timing of the ad campaign is eminent, since the interest of consumers in cryptocurrencies has declined in the past few months. But, it relates with the ambitious plans of Coinsquare to continue its development, internationally and as an IPO (initial public offering).

At the beginning of this year, the exchange, Coinsquare unveiled that it intends to go public in the month of September by listing on the Toronto Stock Exchange. The company expects that it will raise almost $120 million (C$150 million) and after that, it will use those funds to finance expansion into the United Kingdom and United States.

Cole Diamond, the Chief Executive Office of Coinsquare told bloomberg, back in January that:
“The United States and the UK market are next… We believe that we will be a strong competitor to Coinbase and other exchanges in the US by the end of the year.”

While Coinsquare considers itself as a strong competitor to Coinbase in the future, at this time, it processes quite less trading volume than its correlative south of the border. According to CoinMarketCap, at this time, Coinsquare is ranked as the 95th-largest exchange of the world, with daily volume of almost $1.7 million. Amid exchanges that provide CAD trading pairs, it is ranked on the third position, behind QuadrigaCX and LakeBTC .

Although it isn’t the first cryptocurrency company that’s going public, however, Coinsquare is going to be one of the first to do so via conventional means, which offers an extensive regulatory analysis process. Many have done the same through RTOs (reverse takeovers), where a firm joins a company that is already listed on an exchange and after that, it modernizes its ticker symbol as well as its name.

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Bitcoin – puzzling rise of the bitcoin

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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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What Are the Best Bitcoin Hardware Wallets In 2017?

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What Are the Best Bitcoin Hardware Wallets

 

In comparison to online wallets, hardware wallets are the more secure form of Bitcoin wallets. These wallets use 2FA (2 Factor Authentication) to make sure your Bitcoin assets are secure. The 2FA requires the identity and PIN code of your wallet.

If you really want to ensure the security of your wallet, get a hardware wallet ASAP.

In this article, you will learn about what are the best performing hardware wallets in 2017, thus making the choice easier for you. So, let’s get started with knowing what are the best hardware wallets in 2017.

Best Bitcoin Hardware Wallets In 2017:

Ledger Nano S:

 

The main reason why I have put Ledger Nano S on top is that:

  • It has a catchy UI
  • Sleek design
  • Support of different cryptocurrencies (Ethereum, Stratis, Zcash, Dogecoin, Litecoin)
  • A reasonable price tag.

Currently, the ledger sells for $63, making it one of the most affordable hardware wallets out there.

Trezor:

 

One of the oldest and most reputable hardware Bitcoin wallets address. Similar to Nano S, Trezor has a catchy UI and a nice design. The altcoins it supports, apart from Bitcoin, include Dash, Zcash, and Ethereum. However, in order to use Ethereum, you will need to use an external wallet called ‘MyEtherWallet’.

Compared to Nano S, Trezor is a bit on the expensive side – $99 per wallet to be precise.

One of the main reasons that give Trezor edge over its competitors is the fact that it belongs to ‘Merk Slush Platinus’ who is also responsible for creating the first ever mining pool.

KeepKey:

 

The last one on our list. KeepKey is pretty much similar to Nano S and Trezor in terms of UI, usage, and support for altcoins. The wallet supports a number of altcoins such as Testnet, Dash, Ethereum, Namecoin, Dogecoin, Litecoin, and Bitcoin. However, there are few reasons that make it less attractive as compared to the other two. The reasons are:

  • Almost twice the size of Nano S/Trezor – making it less convenient to carry around in your pocket.
  • Not enough reputation in the community.
  • Poor support department, etc.

The wallet currently sells at $99.

The Final Word:

When you look at the prices of both online and hardware Bitcoin wallets, the latter is on the expensive side. And this might force you to think that why spend extra money on something that you can get for free or lesser amount? Remember, the amount of security you get with a hardware wallet is much more valuable than a few dollars that you will save with online wallets. So, lay out some money and take the safer route.

 

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A tour to bitcoin

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A tour to bitcoin

Jonathan Johnson chairman of the board of overstock and president of Medici venture become and how this technology will be use in transactions. His business partner did the same. Both partners come to know that bitcoin is a rising star,  and it has a large number of users. At the end of the year, both had different sessions of discussion about blockchain technology.

Management discussion

The discussion ended up with positive waves. They include their senior management in the discussion. With more discussion, their interest for bitcoin increases. Then, Both partners want to provide a secure, absolute ways to buy the product.

Overstock already had a lot of project in the queue but it was the target to get bitcoin coding during the first half of 2014. Everyone come to know that company is going to launch a new project and for this purpose best developers of the company voluntarily did this instant duty.

From here on, team member doing their duty volunteering. They lock themselves in a room and order for the pizza, slid under the door. So, they can work on mixing the technology into overstock websites.  On the other hand, workTeam exception works on this project over the holidays, because they were bitcoin believers. Finally, on 9th January 2014, exact after two weeks of hard work, Overstock became the first retailer to accept bitcoin.

At this point, bitcoin news holders came to overstock and started the purchase of the products. Afterward, both partners start to speak about the bitcoin and tend their company toward accepting cryptocurrency. Overstock is a company, who do care about customers and provides complete eases and best shopping experience.

Therefore, with the began of bitcoin acceptance, bitcoin community moved toward overstock. In addition, they spend plenty of bitcoin. They increase their business with the tight margin of e-commerce. They had experience that bitcoin provide secure, crystal clear system of exchanging.

You may not hear about its retail cases, but most of the companies, individuals are going to use its. They feel that bitcoin is safer and world widely accessible way to purchase a good or services from any company.

It’s simple to say that “its technology era and this the time of bitcoin.”

You can easily purchase a thing from any company all over the world by using bitcoin.

Tags: Bitcoin discussion

 

 

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Factors behind the success of Bitcoin’s Value

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Factors behind the success of Bitcoin’s Value

Something, which facilitates the people in their lives, automatically will have some values. Whether it is in goods or in services. Therefore, Bitcoin’s uses and its benefits are the reason behind its value. Bitcoin community is active as other social networks. In addition, the main reason behind its increasing worth is the limited supply of bitcoins. Whereas, the government is unable to trace and tax. Bitcoins are in limited quantity. Accordingly,  the price of bitcoin in this year is 50x. which is seriously an insane swing of any currency.

Currency needs some qualities

There are some qualities which should be in any currency.  These qualities make the money more powerful.

Rare

Actually, money/currency should be limited in supply.  As economics proves that demand will increase with limited supply. Similarly, with the bitcoin, the total supply of 21 million coins increases its demand. In the result, its values increase day by day. Today’s value of bitcoin is $2251 as of May 23rd 2017.

Utility

The utility of any currency or object plays an important role in the determination of its value.  In the result, higher demand enhances the higher price.

Transferable

As currency/money always use in the transaction process, or in exchange meanings. Accordingly, If money has an ability of easily transferable then it will use by a large number of people. Moreo, if it has not, then money/currency’s demand will be low. Accordingly, Bitcoin’s transfer availability is in more than 100 financial sectors.

Unspecified

Everyone in the world has an authority to keeps his/her transactions private. Whereas, People like the process, which provides them such kind of privacy for their transactions. However, Bitcoin provides such type of process to its users.

Here is some discussion about how bitcoin value.

Scientifically

Bitcoin technology has worth for solving the long-standing two general problems. Clever solution for transactions of digital spending is achieved by the self-organizing and time-base record. The blockchain populate the bitcoin network, is well known public ledger.

Technologically

There is not central server to control or shut down the bitcoin protocol. Censorship resistance of bitcoin is critical. Clearly, means there is no one to control the usage of bitcoin. Censorship resistance to digital currency and its payment system makes the bitcoin an irreversible disruptive technology.

Social values

In the field of computer science, Satoshi Nakamoto’s innovations are milestones. Even so, with no limitation, bitcoin become the number one exchange and payment network. Each bitcoin users are responsible for his/her bitcoin’ security. Most of the people like the anonymous behavior of transactions are one the reason of bitcoin’s fame.

Bitcoin’s design

To the solution of double-spending, Bitcoin’s explicit design features offer users additional value:

  1. Bitcoin’s payment method
  2. Secure storage and transmission of user’s data
  3. Blockchain (decentralize public transaction ledger)
  4. Contract mechanism

 

Secure way for transactions

In addition, bitcoin user’s wallet generates the public keys.  Therefore, no one is allowing to step-in transaction’s process.

Network

Bitcoin is peer-to-peer decentralize network. However, nodes are distributing to decentralize the whole network. Whereas, Bitcoin is designed to seek the nodes. In short, the greater decentralization the healthier the network.

Above all are few aspects, that makes the bitcoin valuable. So, take time and make the decision with bitcoin world.

Tags: current bitcoin value, Bitcoin’s success factors.

 

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