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2017 has been a good year for Bitcoin so far, with its price stabilizing above the $1000 mark and reaching to its recent mark $1263.00. Russia and Japan are the ones behind the high rise of Bitcoin this year.

Since the beginning of April, the price of Bitcoin rallied from $1070 to peak at this month’s high of $1227.00 on April 11. At the time of writing, bitcoin is trading at around $1283.81 according to https://blockchain.info/markets. The market value of Bitcoin has increased from around $17.5 billion on April 1 to surpass $19.5 billion on April 20, according to https://coinmarketcap.com/currencies/bitcoin/#charts

Japan and Russia Raise Bitcoin to new heights

Japan gives Bitcoin price boost

Bitcoin became officially recognized by Japan on April 1, which obviously gave Bitcoin an immediate boost. Citizens can now use the currency to make purchases. Also, it is exempted from sales tax.

Moreover, following the legalization of Bitcoin, retail giants Bic Camera and Recruit Lifestyle have both made an announcement stating that they will be holding trial payments in order to increase the usage of bitcoins for consumer purchases. Recruit Lifestyle uses the app AirREGI which enables merchants to carry out bitcoin payments. Also, there’s a possibility that over a million Japanese retailers may soon accept Bitcoin payments by the end of 2017.

Japan’s acceptance of Bitcoin has been very helpful since it gave a boost to both local and global demand.

Russia is Changing Its Stance Toward Bitcoin

The Bank of Russia banned the use of digital currencies in 2014 fearing that it would weaken the Russian ruble, which seemed to be struggling at that time.

This ban was the reason behind several bitcoin websites and businesses being shut down. It lead to many lawmakers speaking out against Bitcoin, suggesting that “they cannot be used by individuals or legal entities.”

However, at the end of 2016, The Russian Federal Tax service issued a letter in October stating that under Russian law digital currencies are not illegal and that there are no prohibitions for companies and citizens when it comes to dealing with them. But, this letter still gave no clear indication of how digital currencies will be under regulation in Russia.

Last week, however, Russia’s Deputy Finance Minister Alexey Moiseev said in an interview that The Russian Central Bank and the government are working on an agreement that could see digital currencies such as bitcoin become recognized as a legal payment method as soon as 2018 arrives.

Russia’s change in attitude toward bitcoin has helped shoot up the currency’s price and will likely increase its demand. This could possibly push the price of bitcoin to new heights in the future.

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What’s The Future Of Ethereum And How  It’s Going To Perform In 2018?

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What’s the future of ethereum: At a Blockchain conference facilitated in Taipei, Ethereum Co-founder Vitalik Buterin sketched out the long-term guide of Ethereum development.

what's the future of ethereum

As indicated by Buterin, a large portion of the basic issues of the Ethereum Blockchain network fall under the following classes: adaptability, contract security, and privacy. A few system updates including the latest Byzantium hard fork provided solutions in the three major areas. However, as Buterin noted during a meeting with South Korean mainstream press outlet Joong Ang, it might take no less than two to five years to really understand adaptability inside the Ethereum network. Buterin stated:

 

“I would state two to five, with early models in one year. The different scaling solutions, including plasma, sharding, and different state channel frameworks, for example, Raiden and Perun, are already thoroughly thought out, and advancement has just begun.”

 

Concerning adaptability, the Ethereum Foundation and the open-source advancement group of Ethereum gained critical ground with the upcoming launch of the Casper Testnet.

Casper is a long-term scaling solution that utilizes a crossbreed proof-of-work (PoW) and proof-of-stake (PoS) protocol onto the Ethereum. At present, like Bitcoin, the Ethereum exclusively depends on the PoW to maintain the network and to confirm transactions.

As Christian Reitwiessner, the team lead for Ethereum’s Solidity and Ethereum C++ usage, clarified in a current paper, arrangements like PoS are important to dispose of the workload of clients, hubs, and reliance on miners. Reitwiessner composed:

 

“scalability does not originate from the fact that Blockchains are relieved from their workload by making a big number of smaller chains and moving the exchanges there. It is only accomplished once a client does not need to confirm each and every transaction that is sent to the system.”

 

Structurally, Ethereum currency is different from Bitcoin because it works as a platform for decentralized applications. Ethereum critically needs an adaptable system which can deal with decentralized applications.

To enhance the privacy of the Ethereum network, designers of Ethereum coordinated Zcash’s usage of zk-SNARKs, to possibly settle anonymous and private transactions.

Ethereum Future – Price Trends In 2018:

JP Vergne, a teacher at Ivey Business School, noted in a study that developer activity is the best predictor of the cost of a digital currency. Vergne stated:

 

“We found that the best predictor of a cryptographic money’s exchange rate is the measure of developer activity around it.”

 

Ethereum is the only Blockchain system and cryptographic money in the market which approaches Bitcoin in terms of developer activity, and subsequently, given the presentation of innovative solutions, such as Casper, Sharding, Plasma, and zk-SNARKs on Ethereum, its cost will probably surge all through 2018.

Story credits: CoinTelegraph

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The 10 Most Bitcoin-Friendly Cities in The US You Should be Visiting Today

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The US is titled as the 22nd most Bitcoin-friendly country in the world.

So, if you ever plan on setting up an exchange or a business regarding bitcoin, the US might offer you the right market. However, many Americans would look at this rather disappointedly because they believe that they’re unable to keep up with the technology or business industry as compared to other nations.

Well, here are 10 of the most bitcoin-friendly cities in America.

business regarding bitcoinAt the top, we’ve got San Francisco, California

 

Seattle, Washington

 

Los Angeles, California

 

New York, New York

 

San Diego, California

 

Austin, Texas

 

Boston, Massachusetts

 

Chicago, Illinois

 

Phoenix, Arizona

 

And last but not the least, Washington DC.

 

So will you be paying any of these places a visit? Let us know in the comments section below.

 

Tags: Bitcoin info, which country uses bitcoin, bitcoin accepted countries

Story Credits: steemit.com

Image Credits: steemit.com

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Creating a Bitcoin bank with USB drive

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People can store their Bitcoins offline or online through multiple ways. They are free to use a paper wallet or hardware option to store.  However, users of this technology also have the option to create a wallet on cheaper USB to store coins offline.

Creating low-cost Bitcoin wallet USB

Today, we are going to create a low-cost bitcoin wallet with a USB drive. You have the option to download few different wallets for this procedure. While, for this walkthrough, we use an electrum wallet. bitcoin users need to follow such installation process.

First

You need to download electrum wallet to your computer. Linux, Windows or Mac OS will take few minutes to download.

Second

Install this software directly on the USB drive. Use USB thumb drive for other application isn’t the good idea. There is an option that drive should play one man show as bitcoin wallet.

Offline installation of wallet into USB drive

Third

To perform offline line installation, you need to disconnect from an internet connection. It will be better to refresh your computer before installation. When you are sure that your operating system is offline then plug your device into the computer.

Forth

Open an installation program from your USB drive. The client does not have the option to reach the bitcoin network, but you still have complete opportunity to create a new wallet. This installation follows the same procedure. You need to install to USB, then go through security session. Where you will create a strong password and write down your seed phrase. Keep in mind, if you forget your password or seed phrase, you will not recover your bitcoins on that wallet.

A Little Bank or Bearer Bond Instrument

After securing your wallet with an encoded passphrase and get your seeds, you will have a fresh wallet. you can easily send or receive the bitcoins. like a hardware wallet, you need a device to access your keys, so that you can easily restore it with seed. The cost for this method is round about $2. Furthermore, they also can use the bearer bond instrument.

 

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History of bitcoin

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Bitcoin is a digital currency, world’s famous cryptocurrency. Who creates Bitcoin? Its answer is not that much easy. while the identity of the creature of bitcoin is still a mystery.  In last of 2008, someone going from the username Satoshi Nakamoto, release a white paper to cryptography list. The 9-page paper was entitled” Bitcoin, peer-to-peer electronic cash system”. That day and today, we do not know the creature, is a personality or a team work???

With pseudonym creature, bitcoin asserts itself. In the meantime, Bitcoin creates a strong impact on users of the cryptocurrencies’ world.

Now, here I am going to share bitcoin price history, its origin and how its start work, and rises as a star in cryptocurrency world.

2007:

Basically, working on bitcoin concept was started in 2007. If we consider, that Satoshi Nakamoto is a legend. He starts working on this concept to provide fair and free transaction system. While he was on record as living in Japan.

August 15, 2008:

The allege originator of Bitcoin concept denies the connection with Satoshi Nakamoto. Even so, Neal Kin, Vladimir Oksman, and Charles Bry file an application for an encryption patent application.

A great silence…………………………

August 18, 2008:

18 August 2008, anonymousspeeches.com register a domain, named bitcoin. A site, allows users to join and do transactions. This was the birth of Bitcoin in the real world.

 October 31, 2008:

Nakamoto publishes the design white paper in cryptography list. Whereas, the paper includes that the bitcoin currency is going to solve the issue of currency being copied.

January 3, 2009:

The first block was mined on January 3, 2009. It was,” Block 0, the genesis block, is established at 18:15:05 GMT.

January 9, 2009:

Version 0.1 released. It includes the generation system which creates 21Million bitcoins through 2040.

January 12, 2009:

Version 0.1 of bitcoin released on this date. Compiled

with Microsoft visual studio for windows. In which, bitcoin generation system will generate 21Million bitcoin through the year 2040. In addition, at the end of this year, on 16 December 2009, 0.2 version of bitcoin released. Whereas, 0.3 version released on July 7, 2010.

0.3.13 version of bitcoin released on September 29, 2010.

A Brief Look at Bitcoin History – First Bitcoin Transaction:

First bitcoin transaction takes place between Satoshi and Hal Finney on 12 January 2009.

Born of currency exchange:

First bitcoin market established on 6 February 2010 by doing dollar as Bitcoin currency exchange.

10,000 BTC spent on pizza:

Florida programmer, Laszlo Hanyecz pay 10,000 bitcoins for pizza. That was the real-life transaction takes place in cryptography world.

Pool mins……:

On September 18, 2010, bitcoin pool mining was introduced. Furthermore, several users work together and enjoy the benefit together.

2013:

No doubt, the most important year of the bitcoin. This year, Bitcoin wrote its history. In 2013, its market capitalization reaches $1bn. China bans this technology first. But today, 80% of bitcoin transactions are processed in China and become the largest trader of Bitcoin in the world.

2014:

In 2014, first and most progressive treatment to bitcoin was held by HMRC. Who classified bitcoin as the asset or private money.

2015:

The biggest change comes from banks and industries. Most of the banks trying to change their infrastructure. Whereas, industry executives talking about Bitcoin and some of them do transactions.

2016:

Therefore, it is too early to tell you about the story of Bitcoin in 2016. It reaches heights and sometimes faces loses.

Future Prediction of Bitcoin:

As bitcoin reaches the price of gold, and compete with many more cryptocurrencies. Which makes its strength in the financial market. Looking at the Bitcoin value history, future can be easily predicted. And my prediction is that coming era is bitcoin era.

 

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