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19 July 2017, A passionate digital currency backer says that Bitcoin is going to hit $500,000 during the next three years.

According to him, Bitcoin’s potential is not a joke, and that he is ready to take any bet to the contrary.

People were quick to respond:

One might think that McAfee is on the extreme end, but he is not the only one manifesting this much optimism for Bitcoin. Tom Lee – one of Wall Street’s biggest equity bears – also believes that Bitcoin is the new gold with a potential worth of $55,000 by 2022.

“One of the drivers is crypto-currencies are cannibalizing demand for gold GCQ7, -0.20%”, Lee wrote in a report. “Based on our model, we estimate that Bitcoin’s value per unit could be $20,000 to $55,000 by 2022 — hence, investors need to identify strategies to leverage this potential rise in crypto-currencies.”

That’s a major jump from $2530. Lee considers Bitcoin as a Gold, and the reason for this is the ever-increasing value and high demand of Bitcoin. Lee added, “Bitcoin supply will grow even slower than gold.” And, “Hence, the scarcity of Bitcoin is becoming increasingly attractive relative to Gold.” Lee also wrote, “This is a game changer, enhancing the legitimacy of the currency and likely accelerating the substitution for gold.”

Today’s value of Bitcoin is $2303.28, which reached $3018 on June 11, 2017. However, the drop is just being touted as temporary, and Bitcoin is expected to pick up the pace again in the coming days.

Story Credits: MarketWatch

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Bitcoin Mining – What Are the Best Mining Programs?

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If you are reading this article, chances are you already know about Bitcoin mining program as it’s the easiest way to get bitcoins. But did you know that the mining itself can be divided into two further: solo mining and mining through a pool?

In terms of profit, there isn’t much difference between the two. Solo mining offers large but irregular payouts while pool mining offers small and frequent rewards. In the end, both the methods add up to the same amount.

Whatever you choose, it’s totally up to you. But remember that there are certain steps that you need to follow in order to succeed. The steps include:

  • Having the right hardware
  • A software that matches your needs
  • Setting up a method to receive your profits and rewards
  • Solving the algorithms which seem to be getting tougher by each block you mine.

In this post, we have discussed some of the leading software programs to help learn how to mine bitcoins efficiently.

CGMiner:

Our list starts with CGMiner. CGMiner is open source, written in C and currently the most popular GPU/FPGA/ASIC miner. The software is compatible with Windows, OSX, and Linux.

CGMiner has the ability to monitor, overclock, remote interface and fan speed control. Moreover, using a mini database, CPU mining support, Multi GPU support and binary loading of kernels, it can also detect the new blocks which ultimately quickens the mining process.

BFGminer:

BFGminer is designed especially for FPGA/ASICs and is a derivative of CGminer. Some interesting features of BFGminer are:

  • Fan control and integrated overclocking.
  • Vector support.
  • Crypt mining support for both GPU and CPU.
  • ADL device reordering
  • Decentralized mining protocol and much more.

BitMinter:

If you are wondering how to mine bitcoins quick, BitMinter is the way to go. The miner focuses on quick mining, high rewards and is considered to be the most efficient when it comes to getting in touch with potential clients and users.

BitMinter belongs directly to a mining pool. In order to join and become part of a pool, you must register by filling in a sign-up form.

BTCMiner:

BTCMiner is an open source software and is compatible with Linux and windows. The bitcoin mining software doesn’t require any Xilinx/license and possesses the ability to automatically choose a frequency with highest hashes. The key features of BTCMiner include:

  • USB-FPGA modules 1.15b and 1.15d
  • USB-FPGA modules 1.15x
  • USBA-FPGA modules 1.15y
  • No JTAG programmer required
  • Requires just one mining rig from one software instance

Poclbm:

Another miner with the ability to mine some quick blocks. Poclbm can perform hashing computations in a quick manner and is compatible with a wide range of hardware. The miner works best when used with a modern GPU.

According to some users, Poclbm is great for multiple machine mining but not so great for masses.

Conclusion:

These are some of the best Bitcoin mining programs that can help you mine some quick blocks. Each comes with incredible features, which ultimately makes it super hard to pick the right one. However, all you need to know here is to only choose the one that best meets your requirements. Do that and you are good to go.

Tags: Best way to earn bitcoins.

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UNDERSTANDING BITCOIN – Recap

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We’re well aware that Bitcoin is an entirely digital currency that lets its users trade money without the involvement of any third-party authority (such as bank, government etc.).  Also, these trades are made anonymously, that means no personal information is given out or even required for a transaction.

Out of the many perks of Bitcoin, two happen to stand out the most:

Instant Transactions:

  • With Bitcoin, you can exchange money almost instantly with anyone anywhere in the world (but do check if Bitcoin is banned in that country or not). You don’t require a bank account, just a Bitcoin wallet that could be installed on your smartphone, tab, computer etc.

Anonymity:

  • You aren’t required to mention any personal details which reduce or eliminates the risk of identity theft.

Bitcoin Mining & Blockchain:

For understanding Bitcoin, one must understand how Bitcoin mining works. It is the process behind the creation of bitcoins. During this process, complex mathematical equations are solved by mining hardware in order to verify and generate a block. Every time a transaction takes place, it is tracked digitally by computers in a record, where all transaction details are described.

Bitcoin miners are the people who own those computers and confirm transactions. Moreover, they’re also paid in bitcoins and sometimes even paid a fee for the transactions. Since there’s no involvement of a central authority, miners ensure whether the right amount has been transferred and each member has the right balance after the transaction is completed.

These transactions are shared onto a public ledger, also known as, the Blockchain, which can be accessed by anyone. Every transaction that ever took place is mentioned here along with the Bitcoin address linked to it.

Bitcoin Wallet:

Now you must be wondering, what’s a Bitcoin address?

Let me help you. In order to own bitcoin(s), one must have a Bitcoin wallet. You can get all sorts of wallets, hardware, and software. Install one on your phone, computer or just purchase a physical one. After you’ve got your personal wallet, the next step is generating a bitcoin wallet address and a private key. This is the address you’re going to share with everyone, whenever you want to make a purchase or transaction. Whereas, a private key is meant to be a secret as it basically holds the key to your coins, if you lose your private key, you lose everything.

Remember! Every transaction generates a new Bitcoin address and this is the reason for its anonymity. No one can actually trace the transaction back to you since it’s always a different address.

 

While Bitcoin has major advantages compared to fiat currency, it’d only seem fair if the drawbacks are pointed out as well.

  • The Bitcoin network is also vulnerable to hackers and viruses. Remember, you cannot enter any personal details on a site promising to give out free bitcoins.
  • Bitcoin is highly volatile, which means that its price is constantly fluctuating.
  • Another drawback is that there are only 21 million bitcoins available. So nobody knows what’s going to happen once it reaches that limit.
  • If you lose your wallet, those coins are gone forever, unless you’ve created a backup of it.
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Install, Backup And Restore A Bitcoin Wallet. Or, Almost Any CryptoCoin Wallet (Windows)

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BitPay – Accept Bitcoin Payments

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Bit pay accept bitcoin payments

Bit pay merchants are now accepting Bitcoin cash payments from now. Bit pay merchants including Zynga, Microsoft and virgin galactic to name a few, have started accepting bitcoin. They are not only entertaining the payments process but also all of the services in its full integration. The merchant crypto payment processor Bit pay has introduced these services free from

  • volatility,
  • fraud and
  • charge backs.

The processor offered by Bit pay not only fully integrate the services offered but also let you choose the currency you desire. You can either choose your local currency or bitcoins. Or if you are the market bull you can also choose both at the same time. Despite what currency you choose, there are guarantee exchange rates provided. This enables you to feel fully secure and confident about your choice and decisions.

So, no matter what Bit pay payment you choose, it will all be paid in cryptocurrency. Keeping it a safe and secure payment friendly blockchain as it claims. It also claims to remove, or at least minimize the block chain payments from clients around the world.

Bit pay has claimed to bear all the fluctuations bearing on your bitcoins deposited. All the dollars and pound you earn will rest with you, and all the fluctuated figures will be handled by the bit pay.

Another potential opportunity bit pay has given is the introduction of e-commerce. Users can generally buy a number of items indirectly with bitcoin cash. These e-commerce plug ins include

  • Shopify,
  • WordPress,
  • Magento, to name a few in general.

Bit pay aids to help not only support and comfort the users but also to make it easier and user-friendly for them too. Through this integration process, it has made it simple and effortless for a lot of blooming small internet businesses.

It aids in interaction with all of the consumer wallets to provide smooth and satisfying experience for every user. The aim is to facilitate every operator in their blockchain comfortable transitions, providing them with the possible conducts that suit their ways.

Bit pay has provided the handlers with in-person solutions. Keeping in mind that every individual has their own set needs and comfort levels for the transactions and results they opt for.

The transactions and procedures are user-friendly and easily understandable. The process has been designed in a simple way so everyone gets hands on it. The basic pattern is very similar to the bitcoin makes it more approachable and familiar to the users.

But what if the company sends you an invoice in your email? Bit pay has got you covered there too. The invoice can be redirected to the bit pay and can be chargebacks paid off with no hustle. There has been a great support and appreciation from the crypto community about the whole thought process and the mechanism in how this works.

So, what are you waiting for? Just go to bit pay and click ‘Accept Bitcoin plugin Are you ready to accept bitcoin? We are!

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How To Make A BitCoin Payment Using An Online Wallet Service

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