View: 446
Want create site? Find Free WordPress Themes and plugins.

Myths About Bitcoin

It’s been over 8 years since the bitcoin first came into circulation. However, the general public and press are still confused as to what is Bitcoin and how to use it. The result of this is numerous myths about the currency.

Bitcoin is a digital currency. It’s different from traditional money in many ways, due to which it is often considered to be a difficult subject to grasp because it requires a basic understanding of many different areas of study such as cryptography, economics, and computer science.

In this post, we have discussed five popular myths about Bitcoin that still spark a debate in 2017.

Is Bitcoin Anonymous:

In spite of the fact that Bitcoin is regularly referred to as the currency to make anonymous transactions, the correct word to use would be “pseudonymous”. Meaning that a user can have one or multiple identifiable addresses. However, nobody essentially knows who is behind each address.

With Bitcoin, each transaction is stored on a public ledger and anyone can view this ledger on Blockchain. This ultimately makes the transactions more transparent for the users.

It’s Used by Terrorists:

Our media has completely ruined the image of Bitcoin. Whenever the currency is brought up in a television show or movies, it’s almost always being used by some kind of serious criminal or terrorist.

Although the user anonymity may account for some illegal transactions, there is no confirmation of terrorists using Bitcoin on a noteworthy scale.

The Currency Is Dead:

One of the most common myths about Bitcoin is that it’s dead or no longer in use.

In reality, Bitcoin is currently going through its most successful phase in history – at least according to the number of daily transactions on the network, which keeps on growing each day.

At the time of writing, one bitcoin was worth $1095.

Think the currency is dead? Think again!

It’s 100% Transparent:

Another myth about Bitcoin is that it’s completely transparent. But this is absolutely not true.

The true identities of bitcoin users – be it individuals or an organization – are kept secret and never publicized.

Also, there are several privacy-enhancing-services, for example, JoinMarket, which permit clients to upgrade their security on the blockchain.

If someone asks what is bitcoin, the perfect description would be: it’s not completely transparent nor anonymous. It’s somewhere in between the two extremes.

Bitcoin Is Useless Due to Its High Volatility:

Because of high instability in value, Bitcoin is frequently thought to be useless by a majority of the population. While Bitcoin has had a significant volatile history, the currency has undoubtedly been moving towards stability since the mining of first blocks in 2009.

Having said that, relatively few individuals are attempting to utilize Bitcoin as a unit of account at this point. It is rather viewed as a store of value by those who hold it.

Conclusion:

These are some common myths about Bitcoin. If you go into the market and dig up the details, you will realize that most of them are completely false and has no solid base to stand on.

In all, Bitcoin is a safe currency. The use of it increasing each day as several corporations, banks, retail stores, and outlets are starting to accept Bitcoin as a payment. This, as a result, has seen an ultimate rise in the value of the currency.

Did you find apk for android? You can find new Free Android Games and apps.

Leave a Reply

Type Comments Here

Your email address will not be published.

Share Your Toughts

View: 575

Bitcoin Surpasses $8,000 Mark and Cardano Surges by 12%

Want create site? Find Free WordPress Themes and plugins.

According to cryptocurrency price news, after recording an immense buy volume in the major cryptocurrency exchanges, the price of bitcoin is currently trading at $8,089 however, the price of Cardano has risen by 12% which makes it one of the best performers of the day.

bitcoin trend line

Cryptocurrencies Following Bitcoin Trend Line

Most of the cryptocurrencies have followed the bitcoin trend line during the time of extreme volatility. Cryptocurrencies that have small market caps usually don’t perform well against bitcoin, which makes the most leading cryptocurrency in the crypto-market end up as one of the best performing cryptocurrencies of the year.

Short-Term Market Trend

When investors start to feel ambiguous about the future of crypto-market and concern about the short-term market trend, both long-term traders and day-traders tend not to allocate their funds as a highly risky and volatile assets. Basically, cryptocurrencies like bitcoin and Ethereum have performed a lot better than small-cap cryptocurrencies in the past four months.

After this cryptocurrency price news, some experts have ascribed the poor performance of Cardano to the high-demand for bitcoin from investors that perceive it as a safe asset, which is logical but, at the same time it is volatile, and has the highest liquidity.

Cardano Price Surge

Investors and traders have recently become more determined and have started to get more small-cap cryptocurrencies along with other cryptocurrencies outside of Ethereum and Bitcoin. This autonomous development of cryptocurrencies and the reluctance of traders to compete for the bitcoin’s price trend show solidity in the market, as well as it ensures that the market has started to recuperate. Over the past 24 hours, the price of Cardano has surged by 12% against the US dollar.

Bitcoin Price Trend

The price of bitcoin rose from $6,900 to $8,000 mark just within the time of 30 minutes, last week. Traders were scared that an immediate correction may occur because an enormous buy volume was noted shortly, which appeared to be out of the blue for most of the investors and traders. But, against the predictions of experts, the price of Bitcoin continued to be strong for many days and ultimately surpassed the $8,000 mark.

Due to the unexpected upsurge in the price of Bitcoin, it is still well that it recorded a slight decline over the past 24 hours. It is likely that the price of Bitcoin will surpass the $9,000 mark in the upcoming time, only if it holds up the $8,000 level over the next few days, as traders are also expecting another short-term rally for recuperating the past shortfalls.

Did you find apk for android? You can find new Free Android Games and apps.
View: 519

Bitcoin – What Are Some Intriguing Facts About the Most Popular Digital Currency?

Want create site? Find Free WordPress Themes and plugins.

Bitcoin is a form of digital money – also known as cryptocurrency that is free from the influence of any bank or governing authority. Bitcoin is used to make transactions anonymously on the global scale. The currency was created by a group called Satoshi Nakamoto and first came into circulation in 2009. The identity of group members is still unknown.

The usage of Bitcoin is increasing and the number of people making Bitcoin transactions is growing each day.

If you are one of the people who feel fascinated by this form of money and want to discover more about it, here are some intriguing Bitcoin facts for you.

Bitcoin facts:

There Is No Authority to Control This Currency:

You might be surprised to know that there is no entity that controls Bitcoin. The general concept of money is that it is controlled by a bank or other concerning authorities. But this is not the case with Bitcoin. The currency is autonomous from all sorts of regulatory authorities. The only person who can control the coins is the one who owns it.

Bitcoins Are Finite:

As bitcoins are not printed into cash or molded into physical coins, most people think that there should be an infinite number of bitcoins in existence. But this is not the case because if it were true, the coins would lose their worth. In order to keep them worth having, bitcoins are kept finite. The exact number of existing bitcoins is 21 million.

Bitcoin Has No Set Values:

There are no set values on Bitcoin. In fact, how much a bitcoin is worth depends on the popularity of the currency. The more people use it, the more it appreciates in value.

Bitcoin is Transparent:

Bitcoin is completely transparent in terms of transactions and amount. Each and every detail related to a transaction is available on blockchain. This openness, as a result, induces trust and security among the Bitcoin users.

Bitcoin Mining:

In Bitcoin mining, the users are supposed to solve mathematical problems using a specialized software to verify transactions around the globe. The users in return, are paid if their efforts were successful.

Want to learn more about Bitcoin mining, read our guide on what is Bitcoin mining and how does it work.

Bitcoin Transactions Are Irreversible:

The Bitcoin transactions are irreversible and a user can never be forced to pay. Once the bitcoins are paid, there is no way to revoke the transaction or force the receiver to pay back your coins.

It Costs Little to No Money to Make a Transaction:

Bitcoin transactions cost little to no money. There are no taxes on the currency and it doesn’t matter to which part of the world you send the money, there are no cuts on transactions and the receiver gets the exact amount that was sent to him.

Lastly -Bitcoins Are Stored in Digital Wallets:

Bitcoin wallets are equivalent to bank accounts for real cash. These wallets are used to store, withdraw and transfer bitcoins from one wallet to another. The wallets are protected by a security key and only the owner can know about it until he reveals it someone else.

Tags: digital currency bitcoin

Did you find apk for android? You can find new Free Android Games and apps.
View: 545
View: 527

CEO Of Alibaba’s Affiliate “Ant Financial Services Group” Is Ruling Out ICO Fundraising

Want create site? Find Free WordPress Themes and plugins.

Ant Financial Services Group was formerly known as Alipay and is an affiliate company of the Chinese Alibaba Group. Since Ant Financial Services Group is an operator of AliPay, a perilous stance has been taken by it over ICOs (Initial Coin Offerings).

CEO of Ant Financial, Eric Jing spoke during the speech, which was held on 24th March at the annual China Development Forum in Beijing and according to him, most of the existing blockchain fervour comes from speculation about the main perception of the blockchain.

Jing also advised that there are numerous projects behind the ICOs (Initial
Coin Offerings) which can offer nothing but a destitute white paper. Jing seemed to exclude the possibility of his company holding an ICO.

ICO Fundraising

Eric Jing Views

According to Eric Jing:

“The current phase is like the internet bubble period in the 1990s.” While saying that, he added:

“Ant Financial has drawn a clear line with ICOs.”

The local media source “The Paper” reported that the CEO, Eric Jing further described that, despite the fact he has his full confidence in blockchain’s ability as a trust mechanism for the upcoming digitalized society, the bubble at this time is probably going to burst within the next two or three years and only after that, the industry will be capable of seeing real blockchain applications coming into place.

Eric Jing’s Role in Alibaba Group

Alibaba Group is a famous internet entrepreneur in the country, China and Jing is a long-time veteran of this Group as he has helped a lot in growing the AliPay business, along with its operator, Ant Financial and now it seems like he’s ruling out the ICO fundraising.

Last year, the latter firm made headlines for its obstructed attempt to buy MoneyGram, which is a U.S. payment service. Even with the criticism of ICOs, Alibaba did its best to make a move into the blockchain space as it took great interest in the technological development.

As it was earlier reported, a blockchain-powered platform has been already developed by Ant Financial for charity donations. Moreover, China’s State Intellectual Property disclosed a data and according to that, around 50 patents related to the blockchain have been filed by Alibaba Group, which are currently pending for approval.

Did you find apk for android? You can find new Free Android Games and apps.
View: 562

ICO Regulation: Finance Minister of France Considers to Regulate ICOs For Crypto-Startups

Want create site? Find Free WordPress Themes and plugins.

An opinion piece was recently published, in which the finance minister of France, Bruno Le Maire exposed that the country is planning to create a legal framework for ICOs (Initial Coin Offerings) in an attempt to become one of the most leading ICO hubs and to attract the crypto startups as well. The opinion piece was published on “Numerama,” which is a French website. In that opinion piece, Le Maire stated that he asked Jean-Pierre Landau (ex-central bank representative), to draft a proposal for a statutory framework on cryptos.

crypto startups

Why was taskforce chosen by Jean-Pierre Landau?

Jean-Pierre Landau is basically known for his fabled nickname “Monsieur Bitcoin,” and was selected to head a cryptocurrency task-force last month in France. The task-force is accountable for recommending guidelines and strategies for the development of regulations, according to a report.

Jean-Pierre Landau said:

“France has every interest in becoming the first major financial centre to propose an ad hoc legislative framework for companies making an initial coin offering.”

Action Plan Revealed

Moreover, Le Maire also revealed that an action plan will be presented to the government of France within few weeks and will intend to see the French market regulator AMF (Autorité des marches financiers) having the opportunity to sanction companies in order to raise funds through ICOs, on condition that they respect the particular standards that are set for protecting stakeholders. So, it’s visible that ICO regulation is current plan of French Minister, Bruno Le Maire.

Le Maire also proclaimed that the startups in the country will be offered opportunities by the blockchain technology, as they will be capable of raising funds just by issuing tokens.

Bruno Le Maire’s Statement:

According to Le Maire:

“A revolution is underway, of which bitcoin was only the precursor. The blockchain will offer new opportunities to our startups, for example with the Initial Coin Offerings (ICO) that will allow them to raise funds through ‘tokens (…)This promises to create a network of confidence without intermediaries offers increased traceability and will boost economic efficiency.”

France has a tradition of financial novelty, and according to Lee Maire, its new ambition is to enter the 21st century’s finance world by ensuring every participant, the required security for their improvement. Le Maire also wrote in the article that France shouldn’t lose out on the blockchain innovation.

France, along with Germany, remarkably gathered for discussing cryptocurrencies at G20. The summit was held in Buenos Aires, in which Argentina Le Maire highlighted how imperative blockchain technology and cryptocurrencies are. The G20 communique showed a curb on cryptocurrencies, however, regulation proposals are set to be originated within three months.

Did you find apk for android? You can find new Free Android Games and apps.