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Chinese cryptocurrency exchange Huobi has actually apparently gotten the managing stock interest in Hong Kong-based Pantronics Holdings Ltd. through a backdoor listing offer, the local news outlet reported Aug 28. A backdoor listing, which is also called a reverse takeover or Initial Going public (IPO), permits an independently held company to acquire an openly traded company avoiding the public offering process, regulatory concerns, and due diligence. Upon completion of the deal, the buyer gains automatic inclusion on a stock exchange.

cryptocurrency exchange

Crypto Exchange Controller

Huobi obviously acquired 74% of Pantronics Holdings Ltd., makings the crypto exchange the real controller of the power-related electrical and electronic items producer. Pantronics stopped trading its shares on the Main Board of the Hong Kong Stock Exchange (HKEx) due to a “possible deal to be made under Rule 27 of the Hong Kong Codes on Takeovers and Mergers.”

When asked whether the exchange means to conduct a backdoor listing, Huobi CEO Li Lin reportedly said that “it is simply a report.” Li stated the exchange service is presently not totally compliant on a global scale, so a backdoor listing would be really difficult to run. Li added that he believes the “standard financial market will accept the blockchain economy in the future.”

Report of Caixin Media

Caixin media reported that the HKEx was preparing a revision of guidelines to take stern measures towards backdoor listings within its efforts to clean up the market and enhance the quality of listed companies. While the proposed steps are apparently not aimed at obstructing backdoor listings, they mean to ensure that companies do not skirt guidelines and undermine investor confidence.

HKEx Chief Regulatory Officer’s Remarks

HKEx’s chief regulatory officer and head of listing commented:

“We essentially allow a backdoor listing. But what [we want] to guarantee is that when this takes place, the quality of the possessions and the ultimate combined company to be listed on our exchange have been through a suitable due diligence and vetting process.”

Houbi Trading

Houbi Token is presently trading at $2.50 according to Coinmarketcap, having actually gained practically 9 percent over 1-day period, while some media attribute the token’s rate surge to the current acquisition. Pantronics Holdings Ltd.’s market capitalization is currently over HKD 927 million ($119 million).

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Bitcoin News: Another Huge Bitcoin Exchange Hacked

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Cryptocurrencies like Bitcoin are very trendy these days. Due to this popularity, many hackers in all over the world are speciously looking to get advantages of that. One of the largest Bitcoin exchange in the world was just hacked.

The Main Story:

The value of Bitcoin and Other digital currencies increased in past few months, which tells the main reason why people with malicious intentions will be looking to steal this amazing Virtual Currency.
According to Yonhap News, hackers attack Bithumb, cooperating about 30,000 accounts, which is the 3% of the total exchange’s customers. It is not clear how much currency was stolen, but some people said that they have lost money in the attack.

Image Credits: The Hacker News

Bithumb understood last week that the home personal computer of its employee was hacked. That’s the reason the hackers may have stolen customer data. But the stolen data does not have passwords, and the company also said that digital wallets which contain Bitcoin and some other coins were not emptied.
On any given day, in the world of cryptocurrency trade volume, Bithumb is the world’s top 3rd or 4th exchange.

A BraveNewCoin report explains that Bithumb has more than 75% of Bitcoin market of the South Korea. This exchange hosts 10% of the global Bitcoin trade. It also says that some 100 customers might have lost millions of gained, as one person has lost 1.2 billion after the hack. To put the thing in the perception, 1 billion gained is equal to $870,000. Or 340 Bitcoin at the current rate as 1 Bitcoin costs $2602.77 as of this moment.
Customers affected by this hack have now filed a complaint with cyber crime report Center of National Police Agency.

Story Credits: bgr.com

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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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How to buy and sell bitcoin for cash

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Bitcoin has taken the world by storm over the last couple of years. everyone, be it a kid or an elderly person, seems to be talking about Bitcoin as it is deemed to be the instant way to become rich. And quite rightly so, as there are numerous stories of people going from rags to riches just within a matter of days/months. This has led people believing bitcoin is an instant way to become and they are often seen asking: how to buy a bitcoin / bitcoins?

How to buy and sell bitcoin for cash

The best and safest way to buy Bitcoin is through exchange. There are numerous exchanges that sell Bitcoin both in bulk and minority. Some reliable exchanges are: CoinBase, BitQuick, Wall of Coins.

Once you have bought bitcoins and held them long enough to significantly appreciate in value, it’s time to sell.

Don’t know how to sell bitcoins?

Trade them at an exchange or find buyers in your area through local bitcoins and sell them on high returns.

You can sell Bitcoin for cash, commodities such as gold, or something you want to have in your locker to look at.

Remember that Bitcoin is highly unstable and continuously goes up and down in value. So, don’t hold much on your bitcoins and sell them right when the profit is high.

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Top 10 Interesting Bitcoin Facts That You May Not Know

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Almost everyone knows that Bitcoin is the most valuable cryptocurrency out there. And those who newly discover Bitcoin often seem to be falling in love with it without even having much of a knowledge about it. What’s more interesting is that even the most experienced Bitcoin users lack the most basic and interesting information about Bitcoin.

This article contains top 10 bitcoin facts for crypto users. Let’s get started with our first interesting Bitcoin fact which is: Bitcoin Pizza day!

1. Bitcoin Pizza Day:

22nd May 2017 was celebrated as the Bitcoin pizza day in honor of the first tangible Bitcoin transaction. On this day in 2010 – when Bitcoin was less one year old, a programmer named Laszlo Hanyecz bought two Papa John’s worth 10,000 bitcoins. The value of those coins in today’s market? Over 17 million dollars!

2. The Creator Of Bitcoin Is Still Unknown:

Although the creator of Bitcoin is known as Satoshi Nakamoto, it’s just a mythical name and nobody really knows about the real person behind it. To this day, Satoshi Nakamoto is still the biggest mystery in Bitcoin world. No one knows who he/she is and whether he/she/it is even alive.

3. Bitcoin Will Never Go Beyond 21 Million BTC:

The supply of Bitcoin is fixed, and this the major part which makes Bitcoin so volatile and takes its value so high. The fact that there are going to be only 21 million bitcoins keeps pushing bitcoin value up and down. It’s a typical supply and demand scenario: demand goes up, supply comes down and thus the value per BTC ends up hitting skies. Similarly, when demand goes down, supply goes up and the price comes back to normal; a perfect scenario to invest in Bitcoin.

4. Bitcoins Don’t Physically Exist:

Bitcoins don’t really look like this. In fact, they don’t look like anything tangible. The Bitcoin images we see all over the internet are just a depiction of what the currency would look like if it had a physical existence. Bitcoin just lies around in our wallets/computers in the form of code. It’s basically just some numbers which show up on our devices’ screens while checking the balance or making a Bitcoin transaction.

Related: Add more to your BTC pile by buying bitcoins

5. Bitcoin Is A Bit Useless:

Wait, what?!! Calling Bitcoin useless? I must have lost my mind! But you’ve read it right – Bitcoin is a bit useless. At the moment, the transactions fees are paid per byte, which means the small transactions may end up costing more fees than the value of transaction itself. This completely takes making microtransactions – formerly the most exciting thing about Bitcoin – out of the equation.

6. Bitcoin Has Several Types Of Wallets:

Online wallets, hardware wallets, and paper wallets are the most common forms of Bitcoin wallets. Offline wallets (hardware, paper) provide the maximum security as they’re immune to hacking attacks/other online vulnerabilities. However, for transactions purposes, online wallets are more suitable.

7. You Can Send Bitcoin Transactions Using Emojis:

 

A Bitcoin transaction is basically an instruction to the network. It doesn’t contain any sensitive piece of information and does not need to be transmitted over secure networks. This means that you can send a Bitcoin transaction via email, SMS, or if for some reason it needs to be concealed, you could even use a series of emojis to encode it.

 

8. Number Of Smartphone Users Have Surpassed The Number Bank Account Holders:

The number of smartphone users has recently surpassed the number of bank account holders. A recent study shows that over 2 billion people are unbanked, thus excluding them from playing any part in the global economy. Countries like Ghana have already started embracing Bitcoin as primary means of the transaction with each other and trading with other countries. This initiative is probably the biggest step towards Bitcoin overtaking fiat.

9. Mining May Once Again Be Feasible To Common Man:

Initially, it was possible to mine Bitcoin on regular laptops and PCs. As things progressed, advanced hardware took over and now mining is only feasible through ASIC (Application Specific Integrated Circuits) hardware. Consequently, the entire process of Bitcoin mining has become a profitability race and only big corporations are able to mine new coins. However, the race is reaching some limits, and it’s expected that with the fall of ASIC prices, Bitcoin mining would once again be heating our homes.

10. Bitcoin Blockchain Is One Of Many:

The last one on our list of bitcoin facts. Each cryptocurrency has its own blockchain and so does Bitcoin. The Bitcoin blockchain is a public ledger and anyone with an internet access can view or download it. However, the file is currently over 120 GB, so you will need a fast, smooth internet. The blockchain can also be viewed online via a browser such as blockchain.info to observe the transactions taking place on the ledger. This makes the entire transaction process as transparent as possible.

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Latest Bitcoin Price Technical Analysis- Adjacent Resistance Zone:

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Bitcoin rate has been frequently consolidating due to the absence of main market catalysts so far.

Bitcoin Price Main Highlights:

  • Bitcoin price has cut lower highs and higher lows, generating a symmetrical three-way relationship on its 1-hour chart.
  • Price just rebounded off support and is due for a test or trial of resistance around $2600.
  • Technical measures are demonstrating that the resistance is more to be expected to hold rather than breakdown.

 

Technical Indicators Signals:

The 100 SMA is under the longer-term 200SMA so the route of minimum resistance is to the downside. The 200 SMA is adjacent to the three-way relation (triangle) resistance, providing it strength as a ceiling.  If it holds, alternative step to support at the $2500 area possibly will take place.

Market Influences:

Bitcoin value has been getting a benefit of dollar weakness just as financial data has been approaching in below expectation. Some degree of profit-taking is initial to kick in top up to the weekend, end of month, and quarter.

The digital-currency is also shrugging off damaging updates from the past in the month when stockholder Mark Cuban warned that bitcoin might be in a bubble and a Goldman Sachs expert also gave a bearish analysis. It should also be distinguished that some of Bitcoin exchanges experienced outages because of trading activity and high levels of traffic.

The mentality of people also tends to affect most of Bitcoin and digital currency arrangements as a huge amount of it is based on demand and speculation. It can involve another durable positive catalyst to produce constant rallies again. By this way, there is still a potential downside for Bitcoin value, specifically since risk-craving has been recurring to the financial markets. Commodities and stocks appear key for a bounce when uncertainties decrease. But, of course, there is also a possibility that geopolitical hazards might shore up another asset as Bitcoin once again in the end half of the year.

 

Image and Story Credit: www.newsbtc.com

 

 

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