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As we know, PayPal was never ready to bet on bitcoin due to several reasons. PayPal chief executive, Dan Schulman announced last month that PayPal is not focused on the digital currency market. One of the main reasons for this “untrust” was the volatility of cryptocurrency because which made the retailers are not willing to accept it in most parts of the world.

future of bitcoin

Is Dan Schulman right or wrong?

And that statement was not false at all, we have noted in the past few months that because of the bitcoin fluctuating up and down, even 20 percent over a couple of weeks, very low margin is left behind for the retailers. Thus, they have to lose a good deal of money on every sale and purchase.

While Schulman also stated that though the blockchain technology is something we can trust and count upon, still PayPal has a lot of options to bring some serious innovations in this technology too.

No doubt it is crystal clear that due to certain irregularities, there are a lot of hidden risks associated with the crypto investment. That’s why South Korea has banned bitcoin exchanges. Meanwhile, JPMorgan Chase chief executive Jamie Dimon called bitcoin a “fraud” last year and said he would fire any trader who traded in it.

Peter Thiel’s Point of View

Aside from the above-mentioned point of view shown by Schulman, PayPal co-founder Peter Thiel recently described Bitcoin as

“a hedge against the whole world falling apart”.

He further exclaimed that while he did not foresee Bitcoin replacing traditional currency, yet there is a strong chance that it may replace gold at some stage.

How can Bitcoin Replace Gold?

When asked to explain in detail his point of view, Peter Thiel explained his thoughts that he was not talking about a new payments system, rather it is like bars of solid gold secured in a vault that has no chance to move anywhere, and it is what he called as a sort of hedge against the whole world going falling apart.

When he was told that Bitcoin has traded around $8000 last week as continuous downward pressure from brokers, he replied that there was a probability of up to 80 percent of the world’s first cryptocurrency to become worthless.

Despite all these statements by the experts, gold remains one of the most liquid assets, traded daily in well-established exchanges all around the world. According to the London Bullion Market Association each day, gold worth of billions is traded in London alone. And to be frank, the cryptocurrency market is not quite there yet.

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Escrow and its services

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Escrow and its services

Digital world needs the digital services as well. That is why there is a huge list of escrow services sites. The matter is, you don’t let your money in the scams hands. For that purpose, you want to use secure and clear way of services for your transactions. Escrow is exactly the same, you want for your transactions. Here, in this article. I will tell you about escrow and its services regarding your transactions.

Escrow is basically a legal concept, an account held by the third party during transactions between parties. This temporary account operates until the completion of the bitcoin transactions. The goods or funds will be held by an agent until he receives proper and appropriate instructions. Funds can be held in escrow are assets, fund, security or money.  At the time of absolute certainty, parties are able to fulfill one another’s obligations and rules.

For example, being a third party, escrow will have the authority to take funds and delivers the goods in good condition according to its client’s wish.

Types of Escrow:

Funds deposit is occurring for the payment at the certain conditions. That usually applies to mortgage, property taxes and insurance. Escrow’s agent is fulfilling the need of their customers. Some types of escrow are.

1. Internet Escrow:

Internet escrow works by placing money in hands of the third party. who is totally independent and has a license for this service.

2. Banking:

Escrow provides its service in automatic vending and banking field.automated teller machine (ATMs) and vending machine. Where he or she put the order and get the result in form of transactions.

3. Personal Property:

Sale of mobile homes also falls in this escrow transactions category. Whereas, selling or purchasing of big-ticket assets are through escrow services.

4. Law:

Escrow is also known in law sector. Escrow funds are mostly used to distribute money from a cash settlement to environmental enforcement action. Through this process, defendant has to pay a total amount of judgment to court administration.

5. Escrow Real Estate:

Escrow agent services are used in real estate transactions. For example, you are going to sell or purchase a real estate. Transactions regarding sells or purchase of bitcoins will be processed by escrow service provider.

6. Mergers and Acquisitions:

Escrow arrangements are mostly used in mergers and acquisitions to extra warranties offered by the seller.

7. Mortgage Refinancing:

This type of escrow is much different from the real estate sale. In a case of mortgage refinancing, one house loan use as the payment for the other home loan. These type of transaction needs many formalities and risk. So, escrow provides its services on the behalf of its customers.

8. Escrow Business:

Business escrow services involve the sale of the business. In transactions, it involves the actual company and all its assets. These transactions are similar in form of transfer of the shares in a business. Just like stock transfer, bulk sales, and holdings.

Above is a short note about the types of escrow. Now, we will discuss, how does an escrow service work?

Escrow and its services

How does an Escrow work?

Most of the business dealings need a third party for transactions. Mostly, escrow provides such type of services. Following are some terms;

  1. Both parties say yes to the terms of the transactions through escrow.
  2. Then, buyer deposits the money in escrow account. After, the verification of transaction by escrow management, escrow verify the payment to the seller.
  3. After the verification of the transaction, the seller has some duties to verify and submit the tracking information.
  4. Buyer has an option to accept the order or reject within few days of transactions before receiving an order.
  5. When buyer accepts the order. Escrow release the money from an escrow account.

Your transaction is complete with escrow services. GOOD LUCK!

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Blockchain wallet

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Blockchain wallet

Blockchain provides secure wallet to its users with options to do transactions. After a year, you are able to buy bitcoin with debit or credit cards as well as bank transfer.

Whereas, blockchain is an online wallet that allows the people to do transactions anywhere in the world. It is like get set go to transactions. Accordingly, users of this technology want to stay up to date with this network. Which is strongly protected by the cryptography.

This wallet is just like your local bank account. Where you have the authority to save money or spend it in different ways. In the same way, you have to open an account with blockchain. where with complete authority you will be able to store your bitcoin.

Furthermore, you are free to convert your bitcoin to the cash for the sake of payments. The process of creating an account with blockchain will take few minutes.

Funding in blockchain and Peter Smith’s statements

CEO of the blockchain Peter Smith says, “This announcement represents a giant step forward in making bitcoin, still a nascent currency, a more compelling and efficient financial solution for new users.”

Furthermore, the blockchain is the world’s most famous funding startups with $30.5 million in 2014. Whereas, the wallet has nearing 10 million users. Company claims about, “The world’s biggest provider of digital wallets for bitcoin, with over 50% market share. Over 150,000 transactions a day on average.” And android version downloaded 500,000 to 1 million times.

Now, we are going to discuss blockchain wallets in detail.

Steps to make an account on blockchain

  1. when you have done with your verification to make an account then look up your new wallet dashboard.
  2. when you have done with your verification to make an account then look up your new wallet dashboard.
  3. Open a website of blockchain info to read some information about the blockchain wallet.Blockchain wallet
    1. when you visit blockchain website, click the button create the account.

    Blockchain wallet

    1. Here, you need to download the registration form. It will ask some verifications regarding your email address. Then, in that scenario, you have to use your email id and create a strong password. Accordingly, use the password consist 16 words including letters, digits or characters.

    Blockchain wallet

  1. when you have done with your verification to make an account then look up your new wallet dashboard.

Blockchain wallet

Here, you have blockchain wallet account with 0 BTC. Here, you have complete authority to in-cash your BTCs.

5. Verify your email id associated with your wallet. And login with new blockchain wallet.

Blockchain wallet Blockchain wallet

  1. Now, you have to secure your wallet. where get your back up phrase, enter your mobile number and blocking IP that suspects to be part of anonymous from the network.

Blockchain wallet

Blockchain wallet

Blockchain wallet services

Here, we are going to know about services of the blockchain programmatically. Few of the content of services are given below.

Getting started

If you are using this API, you need to must run the local service, doesn’t matter it is small. wallet. In addition, your service and application is connecting via API. Here, you have to complete some steps, are;

  • follow the installation instruction and completes it
  • start the server; $ blockchain-wallet-service start –port 3000
  • start interacting with your wallet pragmatically

Your application and wallet service is running locally on the same machine. Moreover, except localhost. Therefore, make you sure the appropriate rules to prevent authorize use. If you want to accept this service an external connection.

You need an API code for higher request limits and wallet creation.

Upgrading

You have to complete the requirements of the site if you already use blockchain info’s wallet API. In addition, replace calls to blockchain.info/merchant/… with localhost:<port>/merchant/….

API Documentation

New blockchain wallet

This method is used to create an account through blockchain info, here is an example;

localhost:3000/API/v2/create
utilize the method of POST or GET

Password: New Password must contain 10 characters.

API_code: An API code with creating wallets permission.

Preview: A private key is optionally add to the wallet.

Label:  Label is set first address in wallet ,which is optional

Email:

creating an email address with this wallet on the behalf of. optional

create wallets with the permission from create and code.

Blockchain wallet

Your payments

Parameters:

  •  required bitcoin address
  • the amount must be in Satoshi
  •  your wallet password
  •  in case of second wallet, required wallet password.
  •  API code is optional
  •  bitcoin address or account index is optional
  • the fee may or may not in Satoshi, is optional

 

 

Blockchain wallet

Send it to Many

Parameters:

  •  bitcoin address as keys and Satoshi amounts as value are required.
  •  required main wallet address
  • your second address is required
  •  wallet API code is optional
  •  bitcoin address or account index is optional
  • the fee may or may not in Satoshi, is optional

Blockchain wallet

Blockchain wallet

Fetch Wallet Balance

Parameters:

  •  main  wallet address is required
  •  API code is required

Sample,

Blockchain wallet

List Addresses

Parameters:

  •  required main wallet address
  •  API code is optional

Sample,

Blockchain wallet

Fetch Address Balance

Parameters:

  • requird address to fetch balance
  • required main wallet password
  •  API wallet code is optional.

Furthermore, there is no confirmation parameter.

Sample,

Blockchain wallet

Generate Address

Parameters:

  •  required main wallet password
  •  label to give an address is optional
  •  API code is optional

Sample,

Blockchain wallet

Archive Address

Parameters:

  •  required an address to archive
  • required your main wallet password
  • API code of wallet is optional

Sample ,

Blockchain wallet

Unarchive Address

Parameters:

  • required an address to unarchive
  •  required main wallet password
  •  API code of the wallet is optional here.

Sample ,

Blockchain wallet

Enable HD Functionality

Parameters:

  • required your main wallet address
  • API code is optional

These wallets allow the use of accounts.

List Active HD Accounts

Parameters:

  • main wallet password is required
  • API code is optional

List  xPubs

Parameters:

  •  main wallet password is required
  •  API code is optional here

 New HD Account

Parameters:

  •  its optional when you are labeling to assign to the newly created account
  • required main wallet password
  •  API is optional here

Get Single Account

Parameters:

  •  required main wallet password
  •  API wallet code is optional

 HD Account Receiving Address

Parameters:

  •  required main wallet address
  • API wallet code is optional

Check account’s balance

Parameters:

  •  main wallet password is required
  • API code is optional

Archive  Account

Parameters:

  • required main wallet password
  • API wallet code is optional

Unarchive  Account

Parameters:

  • the main password is required
  •  API wallet code is optional

RPC

starting RPC server which is bitcoin-compatible RPC API. Whereas, blockchain wallet service start RPC, In addition, RPCssl is not supported and different from server API

 

  • .this method does not support the listsin block
  •  list received by the address and param min confirmation is not supported for methods
  •  This confirmation not supported to get balance
  • list accounts don’t have support from the method.
  •  transactions have a different format

Installation

Nodejs and npm are required to install and use this API service. Installation:  by using this API service, Nodejs and npm are needed to install. Moreover, you need to make sure that you are using the latest version.

 check your version:

blockchain service V

update the latest version:

npm update -g

Requires:

  • node >= 0.12.0
  • npm >= 2.12.0, < 3.0.0

some troubleshooting is given below, during the installation.

Troubleshooting

following are few installation error .if you find some error in installation use sudo command for installation

Startup

if your node is installed with different name, then creat a symlink to your binary. In addition , install node through node version manager.

Runtime

  •  it may show the arror of not method compare. whether, it is because of old versiom , in that scenerio , update your version
  •  and , if you do not install jawa , you may face the wallet decryption error.

Timeout

  •  when you are using un recognize browser or IP address , you may get time out response. In addition, authorization from your blockchain wallet may be required.

Usage

Once installation is complete, you are free to use blockchain service

claim 

  •  h-help
  •  V- version number output
  •  c- currency directory as wallet service moduale.

Commands

this command will start service efficiently to make blockchain wallet APIV2 on a specific port.

Command options

h-help

p-to run the server, you needs the port number

b-bind

ssl- it’s optional the path to your key

ssl-cert – SSL get certificate

bind to 0000, to open service for all incoming connections

RPC- start 

this command will start JSON RPC server.

command option

k- for server request use API

P-RPC server port

b-bind to an ip

e.g.

start service on 3000 port, start wallet API

Development

  1. Clone
  2. Run and install npm
  3. start npm
  4.  the development server is running on 3000 port

this is useful to create a symlink to my wallet V3, especially when you are developing blockchain wallet client alongside

Test

Test: npm

composition 

these  parameters may be configured in

  •   running server default is 3000
  •  ip address to bind and the default is 127.0.0.1

 Deployment

Furthermore, if you use blockchain service in UNIX server. you just need to run “nohup, blockchain wallet service with port 3000.

 

Good luck!

 

 

 

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What Is Litecoin – A Detailed Look at One of The Top Cryptocurrencies

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Litecoin is a peer to peer digital currency which enables instant, almost zero-cost payment in the world. Litecoin is a global and an open source network which is completely decentralized without any fundamental authorities.

The blockchain of Litecoin is capable of handling higher transaction volume than its corresponding currency – Bitcoin. Because of generating more frequent blocks, the network supports more transaction without modification of the software in the future. By this way, merchants get the faster confirmation times.

Miners are awarded currently with 50 new Litecoin per block. Therefore, the Litecoin network is scheduled to generate 84 million Litecoin, which is 4 times as Bitcoin.

Wallet encryption allows their users to secure coins through a wallet so that user can check transactions and account balance. This requires entering user password before spending Litecoin. This method provides protection from wallet-stealing trojans and viruses as well as check sanity before sending payments.

It is an open source software project which is released under the MIT/X11 license that gives you the full control to run, copy, and modify the software. It also gives the power to distribute at your option and modified copies of the software. The Intel integrated graphics cards which are in most laptops are just not suitable for this purpose. To retain speeds up to a high level, most Litecoin miners build dedicated machines by using motherboards which can hold many graphics cards, generally via riser cables.

How to Get Started with Litecoin?

It’s very simple to get started with Litecoin.

Here are some ways to start:

  • Get a Litecoin Wallet
  • Get Some Litecoin From an Exchange
  • Use Your Litecoin
  • Stay Up-To-Date

What are Main Litecoin Features:

Litecoin features are:

  • Faster Transaction Confirmation Time
  • Improved Efficiency than the top math-based currency.

How to Mine Litecoin:

Except you own specific mining hardware, there are two ways to mine digital currency:

  • With Your Central Processing Unit
  • With Your Graphics Processing Units

GPU provides better performance which required for the cryptographic calculations. If you are making your first ever raid in mining and don’t have a heavy gaming computer, then with just a laptop having Intel integrated graphics will possible to mine Litecoin.

Be careful, mining digital coins is highly system intensive and may reduce the lifespan of your electronic machinery. It’s a good idea to be sure that you have an adequate place, keep an eye on the temperature, and also keep in view any other warranties, just in case.

Mining may also be a solitary project or you may join a mining ‘pool’. In mining pool, many people combine their mining system and all take a share of the rewards.

How Much is a Litecoin Worth?

At the time of writing, one Litecoin is worth $52.75111396. The past few weeks was quite remarkable for Litecoin. However, many people assumed this currency will be dead but that is not the case. In fact, this currency is heading to a very bullish direction. The value of Litecoin has increased by over 700%. This is because of Coinbase listing and SegWit locking in. The future is looking bright for Litecoin because the price of Litecoin Continues to Climb.

How to Buy Litecoin:

Some points which will lead you how to buy Litecoin:

  • A way of getting Litecoin is mining them through standard computing apparatus.
  • Always try to have a check balance before investing funds, and should not take a risk the amounts you can’t afford.
  • Buying Litecoin is not an easy job as buying Bitcoin.
  • One of the straightforward ways is to simply buy Litecoin with Bitcoins, this is actually the fastest approach, and it is also the cheapest option for most of the users.

Anyone with Bitcoin can easily buy Litecoin from a number of exchanges:

  • Kraken
  • Cryptsy
  • BTC-e
  • Others have mentioned on Litecoin wiki.

You are thinking that buying Litecoin is the much easy way via fiat transfer through an exchange, but it can be a boring process for some reasons. Some main exchanges of Bitcoin like Coinbase and BTC China don’t deal with Litecoin transactions.

Another way is to buy Litecoin locally, forgoing the disturbance of wiring currency abroad, and changing it into Litecoin.

What are The Top Litecoin Wallets?

  • Many exchanges provide the service of online Litecoin wallets, but they are not modern solutions. Most of the users want something more secure as offline or cold storage wallets. Litecoin has luckily built-in encryption features that you can use to secure your wallet by just a few clicks.
  • Many users like to use the official Litecoin-Qt desktop client, but it has some syncing issues with another fair share of faults.
  • For a more secure and long-term storage, you have to setup a Litecoin paper wallet.
  • It is also possible to get a paper wallet with credit card quality from Crypto Coin Wallet Cards, but some smaller companies are also selling physical Litecoin or coin holograms.

What Is the Difference Between Litecoin And Bitcoin?

Here are some differences between Litecoin and Bitcoin:

  • The coin Limit of Bitcoin is 21 million and the Litecoin network will generate 84 million Litecoins, which four times more than coins issued by the Bitcoin network.
  • Bitcoin uses SHA -256 algorithms, however, Litecoin uses Scrypt algorithm, the main purpose of using the Scrypt was to allow the miners to mine both Litecoin and Bitcoin at the same time.
  • The mean block time of Bitcoin is 10minutes whether it is 2.5 minutes for the Litecoin.
  • The initial reward of Bitcoin is 50 BTC and the initial reward for Litecoin is 50 LTC.
  • The market cap of Bitcoin $10,467,596,650.78 and Market cap of Litecoin is $540,274,528.26.

Conclusion:

In the end, many people still looking at Litecoin as a Bitcoin testbed. Many people will keep an eye of SegWit malleability fix and be looking at how it effects Litecoin. This time is still much exciting to involve in Litecoin, although people having Litecoin may see the increment in the value of Litecoin these coming weeks.

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Bitcoin Returns Tim Draper Over $110 Million From A 2014 Investment

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Bitcoin news today: In an interview in 2014, financial specialist Tim Draper anticipated the bitcoin cost to surpass $10,000 in three years. At the time of writing, the bitcoin cost is at $9839.22 and is in transit of achieving $10,000 before the finish of 2017.

Since 2014, Draper has been a standout amongst the most dynamic investors in the cryptographic money. During the previous three years, Draper has supported both local and global bitcoin organizations, including a $1.6 billion bitcoin brokerage and wallet platform CoinBase, and $160 million South Korean crypto exchange Korbit.

Three years ago, after taking part in different auctions to buy groups of a huge number of bitcoin, Tim Draper Bitcoin concentrated on building the important framework for the bitcoin market to thrive and develop at an exponential rate. His interest in organizations like CoinBase and Korbit played a key factor in the quick development of the US and South Korean bitcoin markets, the second and third biggest bitcoin markets behind Japan.

Apart from the $120 million benefit which he secured from his bitcoin investment of 30,000 BTC in 2014, Draper has been a standout amongst the investors in the bitcoin and digital money division in the course of recent years, finding monstrous success in both direct bitcoin investment and venture capital funding of bitcoin startups.

Draper firmly believes in bitcoin becoming the global currency by replacing the fiat in next few years. As he said in 2014:

“I’m extremely excited for bitcoin and what it can do to improve the world. Bitcoin is similar to traditional currency what internet was for information and communication. Everyone should go out and purchase a bitcoin. Everyone should at least be partially involved in bitcoin because of the fact that it’s a support against the various monetary standards. There’s an entire system being assembled that will make business significantly less demanding with considerably less friction and more secure.”

Bitcoin In 2018:

All through 2017, the market valuation of bitcoin expanded from $10 billion to $160 billion only through the general buyers and easygoing investors. Billions of dollars in institutional cash from flexible investments like Man Group and Fidelity will trigger another surge in the cost of bitcoin for the time being.

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