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After such a tenacious week of downward slides, the cryptocurrency market, and the price of bitcoin are once again firmly growing. The price of bitcoin is currently trading above the $8,000 mark.

Over the last 24 hours, bitcoin has leaped by 10%. Bitcoin dropped to a low of $6,000 early on Tuesday and now finally we’re seeing a subsequent recovery in the value of the world’s first cryptocurrency at $8,114 right now. It is also said that the Bitcoin price could be set to bounce back to its $10,000 mark this year.

On Tuesday, the US Senate hearing raised the possibility of cryptocurrency regulations and this rise has become a subject of discussion for many.  As it was publicly broadcasted, so it’s been a part discussion, since Jay Clayton, who’s a chairman of SEC (Securities and Exchange), and J. Christopher Giancarlo, who’s a chairman of CFTC (Commodities Futures Trading Commission) testified on their intent to emphasis supervisory efforts on Initial Coin Offering (ICOs) and regulations of cryptocurrency exchanges at federal level, as they were completely opposing the current state-level laws.

Aptly, the testimony is seen as a progress by the cryptocurrency community, as it won’t detriment the cryptocurrency markets. However, the remarks that were offered at the hearing eventually demonstrated quite emboldening in a way that regulatory analysis wouldn’t deter the blockchain technology or the development of other cryptocurrencies.

bitcoin price bounce back

Chairman of CFTC Christopher Giancarlo took another step to enlighten the committee by highlighting the complex nature of the blockchain technology and said, that it’s really important to remember that there’d be no blockchain if there was no Bitcoin!

The combined market cap is currently trading at $382 billion, after it hit a low of $275 billion on Tuesday, and the cryptocurrency market is also showing a lot of intervals with substantial double-digit gains as the cryptocurrency market cap dropped below the $400 billion mark recently, and even bitcoin itself fell below $6,000, before its price started to bounce back. The cryptocurrency market made a strong comeback, as US regulators specified that they’ll take a vigilant approach to cryptocurrency regulations.

Right now, some experts predict that the price of bitcoin will hit $50,000 soon and the markets could also hit $1 trillion this year. CEO of Outlier Ventures Jamie Burke, noted that such amazing price upsurges, that the cryptocurrency market had seen last year could be surpassed this year. He said he believes that the market is expected to hit a trillion-dollar mark after February.

 

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Is Cryptocurrency Still Great for GPU Makers?

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On Thursday, an American technology company, Nvidia has announced its financial results which were remarkable. The company has revenues of $3.2 billion from January to April. But what’s the reason behind this profit?

gpu makers

Well, the value of ether and other cryptos recently soared up and created lots of demand for graphics cards – to mine them. Due to the upsurge in the demand, the price of few high-end graphics got doubled between the mid of 2017 to February 2018. It’s a matter of concern for the GPU makers of major graphics-card, as the most important market for them is eventually the gamers, not the miners.

The idea of graphics-card makers collecting hefty profits from the high prices, due to the mining demand doesn’t seem to be liked by the gamers. However, Nvidia accredited that cryptos have played an important role in boosting the financial outlook of the company.

What does Nvidia’s CFO have to say about it?

CFO of Nvidia, Colette Kress said:

Cryptocurrency demand was again stronger than expected, but we were able to fulfil most of it with crypto-specific GPUs, which are included in our OEM business at $289 million.”

The $298 million figure is around 10% of the revenue of Nvidia and it seems like it lessens the cryptocurrency influence on the bottom line of Nvidia. If a customer buys a graphics card at retail, Nvidia won’t be able to know if it’s being used for mining, gaming or something else. The same story goes for the main graphics-card of a rival, AMD, which released first-quarter results a few weeks ago. According to AMD, the sales related to cryptocurrency accounted for almost 10% of total revenue, which could be again understating its influence on the profits of AMD.

GPUs Value

It has been observed that the value of cryptocurrencies has been falling for the past few months. Also, the value of GPUs has also gotten a lot cheaper than it was before. AMD didn’t provide any specific projection for revenues related to blockchain in the second quarter, however, the spokesman of the company suggested that the rest of the year 2018, is going to be significantly below the first quarter sales.

If the price of cryptocurrencies still keeps dropping, it will end up in the form of awful results for the GPU makers. But if the price of cryptocurrencies falls really low, it’s clear that we won’t only see miners halting to buy new GPUs but, we would also see them selling the graphic-cards that they already had on the secondary market. The resulting graphics card surplus could exhort the value of graphics-card below MSRP — MSRP would be good news for gamers though it might be bad news for the companies that are trying to sell new GPUs.

The president of AMD, Lisa Su said that she wasn’t really anxious about the scenario.

“There are multiple currencies being used — People who are mining do go from one currency to another depending on what’s happening.”

She also added that customers can buy graphics-cards for both purposes; gaming and mining. They will be able to hold onto the graphics-card for the gaming purposes — in the case of mining becoming unprofitable. On the other hand, this analysis seems to be debatable. There’s no doubt that there are profusions of cryptos, but at the same time, there are some of them which are economically significant.

Ethereum’s ether is the most important and significant GPU-mineable so far, and the prices of cryptocurrency are strongly linked to it. So, if the value of ether drops, there’s a possibility that the value of other cryptocurrencies might also fall with it. There are many people who want to buy graphics-card for various applications, and there are a lot of those as well that have many of them (graphics-card). These individuals might hold onto one or two cards for the gaming purpose, however, if the price of cryptocurrencies falls quite low, lots of those cards will end up in the used GPU market. This will also make it hard for both AMD and Nvidia in selling their new cards.

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Ethereum Hits a New All-time High While Bitcoin Market Share Slips to Below 50 Percent

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Ethereum’s price made the headlines on Tuesday as news of it hitting a new all-time high circulated the web. On the other hand, Bitcoin’s market share dropped below 50 percent for the first time in over a month.

From $19,130 on Monday to $18,191 on Tuesday morning, bitcoin’s price declined by nearly $1000. A 5 percent decline was observed within 24 hours which reduced bitcoin’s market cap to $304.7 billion. While the reason is still unsure, it is observed that the global average bitcoin price has hit $20,000 in several instances unlike the BTC/USD in major exchanges such as Bitfinex and Bitstamp.

Ethereum Takes the Crypto-Verse by A Storm:

As for Ethereum, it had been hovering around $300 for quite some time while Bitcoin was surging. But, the cryptocurrency took December by a storm and ripped the charts by surpassing $800, first touching at $882 then finally settling at $824. Showing a 24-hour gain of 12 percent, with a market cap of $79.5 billion.

Bitcoin Cash Following Closely Behind at $2,500:

Ethereum was not the only altcoin to shine at bitcoin’s fall-out, bitcoin cash price showed an impressive rally of 21 percent. Enabling the altcoin market to rise by $25 million and making their combined valuation to touchdown at $300 billion for the very first time.

By Tuesday morning, bitcoin cash’s price had settled down to $2292 and a $38.7 billion market cap.

In addition, Ripple and Litecoin were also one of the lucky altcoins to benefit from bitcoin’s expense by experiencing an increase of four percent and seven percent respectively. Ripple’s market share now lying at $30.5 billion and Litecoin’s at $18.7 billion.

Surprisingly, besides Bitcoin, the rest of these altcoins had experienced a great rally on Tuesday. While none of them have actually been successful enough to throw off the biggest cryptocurrency, they’re set out to be great competitors.

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Top 10 Bitcoin Facts

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Talking about the modern and its modernized developed ways, the hottest talk of the town has been bitcoin for quite some time now.

Bitcoin Basics

The cryptocurrency was developed by the pseudonym, Satoshi Nakamoto. This decentralized and decartelized digital currency is free from the regulatory control of security institutions and government controls. There are no third parties involved. The value is completely and solely set by the supply and demand of the market. The underlying algorithms generate mines, which are worked out to obtain Bitcoins as a reward. It is a digital alternative to paper money working on the peer-to-peer basis.

Buying things with Bitcoin

After the first introduction of Bitcoin to date, there has been a gradual and cautious increase in its acceptance and endurance. But the people are taking the currency with a bigger heart. By the passing time and its ability to prove itself, more and more commodities are coming at front accepting the Bitcoins. Included in these names are a few hi-fi names. These include Virgin Galactic, Lamborghini and not forgetting Mel B.

The Numbers

Bitcoin mining is an algorithmic computer-based process which verifies and secure the Bitcoin transaction. The Bitcoins are mined by solving complexed mathematical problems. The process is called mining as these Coins are to be extracted from the system for usage. A collective group of the transaction is called a blockchain. They are known as chains as they are secured and built on top of each other by the miners, forming a chain. These blockchains confirm the transaction in the whole network when it has taken place. When a miner solves the puzzles, they are rewarded with a small number of bitcoins. That’s how new coins are introduced in the system.

The Value

With its extremely volatile and unpredictable nature, Bitcoins prices go back and forth in monetary values. These values are decentralized and depend entirely on the users and coin holders. How they respond to these in a span of time will determine their value during that time. There has been an unpredictable rise of up to $1000 and dropping it down to $2 even.

Bitcoins and Bankruptcy

Following the term ‘speculate to accumulate’, there are numerous speculators supporting the cryptocurrency. This digital currency is equally very risky to handle when not dealt carefully and with precautions. In 2014, Mt. Gox had to face serious issues mishandling or possibly theft against these coins worth $450 million. They were forced to file for bankruptcy protection keeping in view the intensity and strength of the damage.

Banning the Bitcoins

With its ability to be decentralized, it has been a concern for the security and political institutions. Challenging their authority and regulations different countries are responding differently regarding its engagement. Being the first in line, Thailand completely banned the currency usage by July 2013. Later the ruling and practice were relaxed keeping in view the devoted interest and attention of the people. China and Japan comparatively have some what proved to be biggest supporters of the currency, followed by the U.S.

Know your Limits

The process of mining is through which coins are awarded and are being introduced in the system. But there is a restricted number of bitcoins to be available ever. There are only 21 million Bitcoins that may exist ever. The production rate by mining is 12.5 today. This production rate is halved every four years to regulate to ensure the sustainability of the value of every Coin. By around 2140, all of these Bitcoins are expected to be mined. Meanwhile, the miners will be awarded by transaction fees for their efforts. On an estimate, 64% of the total mined coins sit uncirculated with the holders, with the optimistic hopes of greater profits.

Wikileaks

One of the most controversial organization, WikiLeaks has shown great dependence on these Bitcoins and other cryptocurrencies lately. Due to the unfavorable response from the other third parties, they started the usage of these secure decentralized futuristic form money for the donation.

SilkRoad

SilkRoad was the very first of its kind platform for the black market. A number of illegal and unauthorized practices were done using Bitcoin. A lot of people were attracted to use this site heavily was due to its anonymity. When the founder Ross William, aka Dread Pirate Roberts was arrested, his estimated was so massive that not all of it was possibly be accounted for.

Bitcoin Beginnings

In 2009, after Satoshi Nakamoto launched Bitcoins, he passed the majority of its control to the scientist Gavin Andreson. According to the scientist, the perfect words he has for Bitcoins is, ‘Better Gold than Gold’. Nakamoto is expected to be in possession of around 1million Bitcoins which means $1.1 billion. The identity of this is still a pseudonym. Other theories suggest that together the companies Samsung, Toshiba, Nakamichi, and Motorola are the founders of this cryptocurrency. but none of the theories has been proven to date.

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What Are Some Ways to Make Money Online Using Bitcoin?

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Ways to Make Money Online Using Bitcoin

Bitcoin is a decentralized, peer to peer, digital currency. It can be sent from person to another without having to go through a clearing house. Since the currency is not monitored or regulated, the transaction fees are extremely low. And this is the main reason as to why the use of Bitcoin is increasing each day and people are making a lot of money online through cryptocurrency.

If you are also fascinated by Bitcoin and want to learn about how to make money online using bitcoins, you have come to the right place.

Here we have discussed some ways that will help you earn money online using digital currency. Give each a solid read.

Ways to Make Money Online Through Bitcoin:

Bitcoin Faucets:

What are Bitcoin faucets? These are websites/apps that dole out the reward in the form of satoshi: hundredth of a millionth BTC. The reward is distributed among those who complete a specific task given by a faucet.

Once you get used to the faucet system, it becomes more like an addicting game. So it turns out to be a great way to make money while having fun solving CAPTCHAs.

Auto Trading:

One of the easiest ways to earn Bitcoin online is using bots that automatically trade bitcoins for users. These bots work 24 hours a day and 7 days a week which is quite remarkable, especially for beginners as they lack the expertise of trading coins.

Affiliate Bitcoining:

The most common way of Affiliate Bitcoining is to set up your own website and offer tutorials about bitcoins for a formal fee. The paramount advantage of having a personal website is that it attracts several advertisement agencies to place ads; which is a great way to make online money.

Mining:

Mining is the main source of generating bitcoins. In bitcoin mining, multiple miners connect with each other to form a pool – also known as bitcoin mining pool. These miners then work on solving blocks. Once a block is solved, the pool members receive their reward in the form of bitcoin.

Since the bitcoin is treated as a currency, loaning your coins is a great way to generate large sums of money.

These are some proven ways to make money online through bitcoins. However, there are always some security risks involved in online money generating techniques, and bitcoin is no exception.

There are a couple of things that you should be aware of, such as websites that ask for plugin additions on your system. It’s a huge red flag. Steer clear of such websites. It could be a trick to steal your information which ultimately puts you at the risk of theft.

Conclusion:

These are some simple ways to make money online using bitcoins. Although they seem pretty simple and straightforward, you will need time to get used to it. Moreover, there are some risks involved – such as information stealing websites. So you will need to be extremely careful to avoid being another name on the victim list of Bitcoin scams.

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Riot Blockchain Making Plans To Launch Crypto Exchange In US

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Riot Blockchain is a former biotech company. It also has the honour to be the first mover on the NASDAQ. Riot has now its full focus on investments in cryptocurrency and blockchain startups with great success rate. It intends to gain exposure to the blockchain ecosystem with its targeted investments. For the time being Riot Blockchain has its core attention on the Bitcoin and Ethereum blockchains. It has also launched its own Bitcoin mining operation.

crypto exchange in US

Surprising Announcement by Riot Blockchain

At last Riot Blockchain has surprised the financial world by its sudden announcement according to which it may launch a crypto exchange in US. In a public filing Riot Blockchain stated that it just had intentions to investigate the launch of a digital currency exchange in the US. It also stated that this will also act as a futures brokerage firm.

Riot has also recently signed a letter of purchase for owning the Miami-based Logical Brokerage Corp that is registered with the Commodity Futures Trading Commission. It is also a member of the National Futures Association, and also acts as an industry trade group.

Reason Behind This Decision

When asked about the reason behind this decision, John O’Rourke, Chairman and CEO of Riot Blockchain stated that Riot took that step because it discovered a crucial market requirement of increasing options for digital currencies within the United States. He further stated that Logical Brokerage will help to provide a trustworthy platform to manage specific service in the relevant market.

Journey from Bioptix to Riot

In fact Riot was not a part of the crypto-business from the start. It was previously known as Bioptix. It has established its identity as a veterinary products patent, no doubt during that period it had developed new ways to test disease.

It was in September when Bioptix made an investment in a cryptocurrency exchange for the first time. Right after two months it purchased a company that had real life cryptocurrency mining equipment. After that the company name was changed from Bioptix to Riot Blockchain and it progressed continuously in the crypto-business. However, switch of business and change of and the company’s name were not the only questionable moves. Riot Blockchain was the first newly born firms to give rise to rumours due to its unexpected turns and swirls into the flourishing business of cryptocurrency and blockchain ecosystem. And all this happened during last year’s dramatic fourth-quarter rally.

However, according to some critics the fact cannot be ignored that Riot’s cryptocurrency exchange plans are at its best right now and it will be quiet unexpected to see them postponed in the future.

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