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Mike Hearn, a long-time bitcoin developer, quitted the project back in 2016. However, on Thursday, he broke his silence as he openly talked about the present state of the project in Reddit Q&A session.

Mike Hearn has since joined the banking consortium startup “R3” and in the Q&A session, he discussed multiple topics, which also included the bitcoin cash hard fork and the block size discussions that eventually directed the developers to discord over the roadmap for largest cryptocurrency of the world.

bitcoin cash

Mike Hearn Remarks

Worth mentioning, the remarks of Hearn showed his own attempts to reform the bitcoin protocol, in the year 2015 whereas, 2016 initially indicated the separation. With Gavin Andresen, who was the lead developer of the bitcoin digital currency project at that time, Hearn presented a software to advance the block size, offering a hard fork that was rejected. However, Hearn quit the core team after that, writing that the cryptocurrency, bitcoin has failed because of problems with its community.

Though at this time, Hearn thinks that the bitcoin cash has gotten many of the original problems of the project as he wrote:

“Bitcoin cash strongly resembles the bitcoin community of 2014. This is not good.”

Views About Bitcoin Cash

Hearn declared his views about the bitcoin cash, how it’s repeating the Bitcoin mistakes. For him, Bitcoin Cash lacks dignified governance, just like Bitcoin did back in 2014 and often communicates through Reddit, where according to him, users are able to censor ostracized opinions.  Intrinsically, he notified the users of bitcoin cash to find an alternate platform where moderator control would be restricted and the views of the community on the upcoming advancements could be appropriately measured. He particularly expressed fear that bitcoin cash was considering to hard fork its chain without any attempt to assess support. However, he still needs the community to be audacious.

He concluded by saying:

“Liberate yourselves from just proceeding along the path Satoshi imagined and be willing to think radical, even heretical thoughts.”

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Gold droops as Businesses Side with Cryptocurrencies

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With cryptocurrencies like Bitcoin and Ethereum, leading the charts, it is hard to ignore the fact that digital currencies are becoming everyone’s new want. Having investors line up right in front, looking forward to making new investments with the cryptocurrencies.

Every month, more digital currencies are added on to the list. Especially, with businesses turning to cryptocurrencies, demands in areas outside the digital world have seemingly begun to decline.

In all this, gold in the sudden surge in demand of virtual currencies our precious metal has suffered immensely.

Supply and Demand

Unlike Bitcoin, there is about $7 trillion worth of gold in the world.

The limits on bitcoin’s supply and the potential worth of the digital currency mean there will be an increase in demand for a limited product, thus driving up the value. Also, the time taken to add Bitcoins to the market has actually dropped since the difficulty to mine a block keeps increasing.

Future of Bitcoin and Gold

Tom Lee, the widely followed strategist said in a report that his model shows how Bitcoin could rise to a range of $20,000 to $55,000 in the next five years.

Moreover, as new cryptocurrencies arise, more and more investors have begun to accept the blockchain technology. Countries are wanting to implement these techniques into their financial sectors and completely decentralize.

Bitcoin now makes up the minority of the entire cryptocurrency market at about 41.6% of all coins and assets.

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Bitcoin Price accelerates beyond $2000

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US markets are celebrating as Bitcoin price soars above $2000 for the first time in history. Bitcoin’s price has surged more than 100% this year and nearly 125% since hitting an annual low of $891.51 in late March. Due to the price recently hitting new heights, the price appreciation will increase dramatically as well.

 

Bitcoin Price accelerates

 

Growing trader interest

The advantage of such sharp price gains is the rising interest of traders as measured by trading volume at major exchanges. Both Kraken and Poloniex had reportedly announced that they were experiencing surging bitcoin transaction activity.

Bitcoin Price accelerates

 

 

A number of factors have been driving the rally:

  • Trading volumes of Japanese yen and Korean won have escalated and account for around 48.6 percent of trading, according to stats from website CryptoCompare. That’s thanks to a recently passed law that allowed retailers in Japan to begin accepting Bitcoin as a legal currency. Since then, Japan has been a big driver of bitcoin trade.
  • Bitcoin has acted as a safe option, in the past, for investors that worry about political instability and the performance of other asset classes.
  • A debate within the bitcoin community about the future of the technology behind Bitcoin known as the blockchain has been taking place. At the moment, Bitcoin transactions are taking an unusually long time to process and come with high transaction fees. There was fear at one point this could lead to the merging of two different cryptocurrencies but those doubts have largely subsided with an alternative, more acceptable option being put forward.

All these factors add up to the rise in Bitcoin’s value in the shortest of time. According to CoinDesk, several billion US dollars have flowed into bitcoin last week, bringing its market value to more than $37 billion. In the end, as Bitcoin grows to gain more popularity and accessibility around the globe, its price will continue to soar as high as it can go.

 

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Bitcoin at New York pre-school

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30 June 2017, After the meeting and inquiries from the parents, the head of two Montessori schools are going to accept the bitcoin.

Marco Ciocca, co-founder of the Flatiron & Soho added this option in the month of June. He held the meeting and inquiry session with parents. Accordingly, this decision comes from a different number of places. Not only school accepting the bitcoins as a payment infect universities including London and Greece are also accepting bitcoin in payment.

About 10 Parents are ready to do payments in the Bitcoin and Mr. Ciocca

He says, “If we talk about just the sort of transactional ease… I think this form of payment will continue to grow”.

Bitcoin is a cryptocurrency, which was used in 2010 first time in the real world. People accept it, spend it, use in exchange and do transactions around the world. Which means, it has some worth, some value.

Today’s value of the bitcoin is $2514.98. whereas its value is double since the start of this year.

Parents are lucky who invest early because they enjoy the rise in the price and discount on school’s hefty that is $31,000.

But Mr. Ciocca opposed the profit from coin value’s fluctuation in the financial market. The will receive tuition fees in bitcoin or other digital currencies.

By accepting these digital payments, Mr. Ciocca drags the parent’s attention toward the technologies’ new trends. This is the easiest way of each kind of payments. He says, “It’s just a much more seamless transaction”.

He was the investor of this-this currency first and want to be the part of its growth. That’s why he followed the currencies and introduce them in his own schooling system.

Story credit: bbc.com

 

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Digital currencies like bitcoin are coming (and it’s a good thing): Juan Llanos at TEDxMidAtlantic

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How to Secure Your Bitcoin Wallet – Killer Tips for Beginners

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How to Secure Your Bitcoin Wallet

A Bitcoin wallet is a software program to store your coins. It’s pretty similar to the traditional bank account in many ways: it stores your bitcoin assets, is protected by a certain mechanism and allows no access to a third party. The only difference between the two is that one stores traditional currency while the other stores the digital currency that is Bitcoin.

Since Bitcoin is the most popular and valuable form of cryptocurrency, the hackers are always trying to sneak into the wallets and steal your assets. This ultimately makes it necessary for the users to keep their wallet as secure as possible.

In this article, we have discussed some killer ways to help you enhance your wallet security. Give them a solid read.

How to Secure Your Bitcoin Wallet?

Avoid Online Services:

How to Secure Your Bitcoin Wallet

As a bitcoin user, you will come across many services offering to store your coins online. It’s a big no-no! these services don’t provide sufficient security or insurance like a bank. Moreover, many events have been recorded in the past where these services suffered security breaches which saw their users lose millions in USD. If you are seeking the maximum security, go with the cold storage wallets.

Smaller Amounts for Daily Use:

How to Secure Your Bitcoin Wallet

Always carry smaller Bitcoin amounts with you. A Bitcoin wallet address is similar to having a traditional wallet. If you don’t keep a thousand bucks in your wallet, you would want to have the same approach for your bitcoin wallet address. Ask any Bitcoin expert and they will tell to carry smaller amounts for daily uses – and keep the rest in a safer environment such as a server, mobile or a computer.

Always Keep a Backup of Wallet:

How to Secure Your Bitcoin Wallet

Do not, I repeat, do not forget to keep a backup of your wallet. The computers we use are always vulnerable to the failure. Plus, we can’t rule out the human mistakes either. Any of this happens and your coins are gone for good. So, make sure to have a backup computer, hard drive, USB, etc. where you can access your coins in case they are lost.

Go Encrypted:

How to Secure Your Bitcoin Wallet

Encrypting your bitcoin wallet address is another important factor to keep your coins secured. The encryption allows you to set a password on your smartphone/wallet for anyone trying to steal your coins. While setting up a password, make sure it’s strong and not based on generic words. Use random combinations of words, symbols, and letters for the maximum strength.

Always Use an Updated Version of Wallet:

How to Secure Your Bitcoin Wallet

Never use an outdated version and always keep your wallet updated. This is because the older versions are more vulnerable to theft and lack the stability. On the other hand, newer versions include useful features which prevent you from security risks and tackle the problems of various severity.

Conclusion:

These are some techniques that can help you protect your Bitcoin wallet from theft, hacking and other risks. Apart from these, there is multi-signature encryption and offline wallets that you can use to protect your coins. Good luck.

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