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Bitcoin has been on a roll ever since the hard fork incident took place. The digital currency climbed to many new heights within the past month but, the most recent one was it hitting a record of $5000 per coin on Saturday, last week.  Let’s not forget, the value did fall by $1000 within three days before it made a speedy recovery. Bitcoin right now is hovering above $4,200 per coin.

We’re all aware that the rapid fluctuations of the cryptocurrency make it difficult to price products. But even with that continuing, there are still some exciting and wild purchases you can make with bitcoin.

Here are 7 of the most shocking things you can buy with bitcoin.

  1. Airline Ticket

    Back in the summer of 2014, Air Baltic was announced to be the first airline to accept bitcoin as a means of payment for airline tickets.

  2. Pizza

    In 2013, ForCoinsLLC was launched by two bitcoin enthusiasts. Their aim was to make it simpler for consumers to purchase items with bitcoin. PizzaForCoins is their website that allows you to pay with bitcoin at local franchises of Papa Johns, Pizza Hut and Dominoes.

  3. A college degree

    You can get a master’s degree in digital currency from the University of Nicosia, in Cyprus. They accept tuition payments in bitcoin through a bitcoin exchange but, their first class is free online. The degree costs $14,500 however, if you pay in bitcoin, you get a 5% discount.

  4. An apartment in Dubai

    Looking for a new pad? Well, the Aston Plaza and Residences in Dubai newly announced that the developers would be accepting bitcoin as a payment for studios, one and two-bedroom apartments. Prices begin at around $127,800 which is 27.55 bitcoins.

  5. Date night

    In Berlin, a restaurant owner claimed that about 10% of his customers pay using cryptocurrencies.

  6. A brandy distillery

    Presently, a distillery in Nemesvamos, Hungary, is selling its building along with the equipments for a little above 73 bitcoins.

  7. A funeral

    One funeral home in the U.S., Crescent Tide Cremation Services in Twin Cities, Minnesota is known to accept bitcoin as a means of payment. They even offer 3% discount if you pay in crypto-cash.

 

Story Credits: mic.com

Image Credits: techrepublic.com

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Bitcoin vs. USD – Why Bitcoin wins this battle

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As Bitcoin goes through another day reaching a new mark and huge publicity, it is important to inform the public what makes it so different from our paper money.

This post will outline the pros and cons of both the currencies and explain why Bitcoin is achieving all the fame and fortune.

USD and other Fiat Currency Systems

Fiat means “simple” which is pretty self-explanatory. Paper money was introduced into the system in 1861 to help fund the Civil War. The printing of paper money is regulated by a country’s central bank in order to keep the flow of money in line with monetary policy. Moreover, the value of fiat currency is not determined by what it’s made of, rather it is the economic laws of supply and demand that dictate its value. They are occasionally updated to new versions containing security features difficult to counterfeit to create illegal copies.

Advantages of USD

  • Can be easily transferred, stored and claimed. You can easily get your cash in physical form with just a single trip to the bank.
  • It has the ability to inflate and deflate accordingly to adjust the impact economic problems.
  • Metals such as gold, are free to be used for commercial purposes, by not being tied to a currency.
  • It is very divisible, flexible and digitally usable. (with the help of credit cards)

Bitcoin & the future of money

Bitcoin was created as a cryptocurrency, by an entity known as Satoshi Nakamoto. People from all over the world can exchange products, credits, and services instantly- without the need for a bank.

The Bitcoin network relies on the blockchain, which is a shared public ledger. It is sort of a database design, where all the nodes hold a copy of the entire blockchain history. These nodes are distributed around the world and attempt to solve complex mathematical equations to confirm a transaction and record it in the blockchain.  The nodes are run by mining pools, bitcoin enthusiasts etc. with high computing power. Therefore, the more the computing power on separate nodes, the more secure the network is.

Advantages of Bitcoin

  • Bitcoin transactions can be carried out instantly. Money can be sent with ease from one end of the world to the other easily.
  • No or very less transaction fees. Bitcoin transactions are extremely cheap with very little or no transaction fees to be charged.
  • It is infinitely divisible. At the moment, 1 bitcoin can only be broken down into million smaller units, which are known as satoshis.
  • There is nothing hidden with Bitcoin, it is completely transparent. We are aware of the supply of bitcoins and with that, we can even predict its future.

 

Should Bitcoin be preferred over digital currencies?

Whenever something new is introduced, there is always a certain amount of fear and resistance present in traders. However, with the rapid growth Bitcoin has shown in the past few years, it is becoming every investor’s need. Even a small investment can show twice the doubling of your deposit in a relatively short time period which is not possible with traditional currencies. Bitcoin has stabilized a lot in the past year and with its short supply and increasing demand, it is definitely not slowing down anytime soon.

To be honest, this is up to your personal preferences. Also, people invest in bitcoin because it shows a good profit in a short amount of time, some do it to learn more about the cryptocurrency world while others just enjoy it. Due to its popularity and drastic growth, I’d recommend everyone to get acquainted with it.

Here’s a graphical representation of the differences of Bitcoin vs Paper money outlined:

 

Tags: bitcoin future, bitcoin news.

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The Hidden Dangers of Bitcoin

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Hidden dangers of bitcoin

Leashing its way threatening the legacy powers, bitcoin has become a genuine innovation in the world of decentralized encrypted currency. Without the doubt carrying a number of untold valuable services, it has widely passed a conflict of biblical financial and economic proportions. With its revolutionary outburst on the internet and the disruptive potential at its first attempt, alongside other chains, bitcoin holds a chain of hidden dangers too. There is a widespread political power and economical threats bitcoin is adapted to. A lot of crypto user face bitcoin hidden dangers.

In order to purchase items, this digital currency can be traded from business to business or from person to person. Being owned by ‘nobody’, this sets it unlike from other financial institution, ‘brick and mortar’. Challenging the sovereignty of entrenched financial interests, bitcoin is bringing a number of conflicts.

Deflation

Bitcoin has come up with a lot of hidden cons. Establishing the third-party trust mechanism, this system is ready to obsolete central banks in a severe case. Challenging the monopoly of the banking world may result in a higher risk of opportunity than ever before. This Armageddon will trigger more conflicts and struggles in a result Deflation will be the utmost backlash of it.

But how is deflation a bitcoin hidden dangers? Reduction in the prices of daily items and purchases, reduced petrol prices is a ‘wowza’ for private citizens. Deflation may sound very promising and attractive to our ears but it will stop the cash flow to a great extent. Reduced prices mean reduction in the wages which eventually means the reduction in the collection of taxes. Getting a hold of the lesser amount of tax collectibles will definitely disturb the government and financial institutes. Keeping cash in hand, private citizens will be able to challenge the government on so many levels. This can create quite an alarming situation in itself. Though it is a no major harm to the private citizen, it is an alarming situation questioning the hold of the government and its entities.

Supply and demand – Manipulate?

Due to its disruptive behavior, bitcoin can create a great deal of financial physical aggregation. This nature and outburst may cause financial bodies to lose control in managing the economy. There is no abstract nature attached to the bitcoin, making it market free. It has left it under no power or under no influence. This will result in central banking and government to lose its command and authority to manipulate supply and demand. It will power out the generation of money and control the interest rates. On average bitcoin challenges about 3.4 trillion dollars of the U.S based trusted services every year. Yes, we are talking about the trillions here. So how big do you think is the financial sector? Very big, right!

In other words, there is an unholy alliance invisible to majority citizens amongst the central banking and government. The political system and central banking depend on various levels on each other, supporting each other’s blacks and grays. Decentralization will make them lose their monopoly and hold over the system to benefit their causes too.

War- Expensive Hobby

A great perceived advantage to be accounted for is that bitcoin is anonymous. But is it really an advantage? It is concerned that it may be used for terrorism and crime. The world, if at war today would require a greater deal of fiat currency to fund military and to fight enemies. But what if the enemy is funded by the same mean? The globalization of the bitcoin will eliminate

  • bank freezes,
  • encrypted transactions
  • foreign transaction fees
  • the abundance of open resources
  • confirmed transactions

Government and central institutions and financial institutions need to make a lot of effort and strategy to keep the technology and its cons at bay. As the significant interests and welfares are increasing so are they economic threats regarding the mechanism.

Totalitarianism

A system that runs through the power and controls the resource distribution can hardly be in line with a decentralized system.

  • Democratic dictatorship
  • Socialism
  • Communism
  • Fascism
  • Welfare states

They are all under a great deal of threat by this abstract ‘bug-a-boo’ – Bitcoin.

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Bitcoin Is Poised To Hit $100,000 – Says The Predictor Of Q4 Rally

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A Hong Kong merchant who correctly predicted bitcoin value’s dramatic year-end rise trusts that its rally is a long way from being done.

Dave Chapman, managing director of digital currency exchanging firm Octagon Strategy, told that numerous investigators laughed at him when he anticipated the bitcoin cost would dramatically increase in the final quarter and reach $10,000 before the finish of the year.

Main Story:

“I was cited back in August when bitcoin was trading at around $4,000 that we would have a five-figure headline before the current year’s over,” he said. “I think many individuals thought I was insane, many individuals laughed at me, but that is OK.”

 

However, regardless of condescending looks, the bitcoin cost has met — and surpassed — Chapman’s expectation. At the time of writing this article, bitcoin was trading at $16,615, a 20 percent rally boosted by the dispatch of CBOE’s bitcoin futures contracts.

The bears credit this development to a speculative frenzy, and Chapman admits that he is somewhat worried about the market’s current “warmth”. However, he denies that bitcoin’s value is purely from speculation.

 

“Bitcoin permits the quick exchange of significant worth from one individual on the planet to some other individual on the planet, and it does that without a middleman. That is its value,” he said. “If you take a look at bitcoin and its impact financial industry, it’s clearly not that crazy to believe that bitcoin could be a greatly enormous disruptor to finance.”

 

Chapman said that the launch of bitcoin subsidiaries is an indication that digital currency is “growing up,” and he included that he would not be shocked if the bitcoin cost comes to $100,000 before the finish of 2018. Nevertheless, he warned that winding up too focused on digital currency costs will make individuals lose sight of the revolutionary aspects of the crypto technology.

 

“The cost to me is presumably the most uninteresting part about bitcoin. I’m more excited about the applications and more amped up for what this means for individuals who lack access to financial inclusion,” Chapman finished up. “If we concentrate on the cost, we’re forgetting about the bigger picture.”

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How To Earn Bitcoins

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Everyone wants to be rich and for this, they pick out different methods. Some of those ways are easier and quick to work, while others are not so much. Cutting to the chase, one of the quickest ways to become rich is Bitcoin – the most valuable cryptocurrency out there. There are many ways to earn bitcoin here we are going to tell you how to earn bitcoin in the easiest ways possible.

how to earn bitcoins

By Completing Tasks On Websites:

The simplest way to earn bitcoins is carrying out simple tasks on certain websites. Some of the websites that offer Bitcoin in exchange of the tasks carried out by their visitors are BitVisitor, CoinWorker, and BitForTip.

By Accepting Them As Payment:

If you are running a business, big or small; introduce Bitcoin as an additional payment option. That’s probably even easier than the one mentioned above: you already have an established business and a client base. All you have to do now is convert the entire client base, or a portion of it to paying you in Bitcoin.

Through Mining:

Mining is a bit slow method to earn bitcoins, but it is also the most common one. Mining requires a special combination of hardware and software for the generation of new Bitcoin blocks. However, the process is relatively expensive and requires a constant supply of electricity which makes it slightly out of reach for a common folk.

So, these three are the most common Bitcoin earning methods for those wondering how to earn bitcoins. Choose one that’s most convenient for you.

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“Bitcoin Will Disrupt Gold” – Winklevoss Twins

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According to Winklevoss Twins, the price of Bitcoin has the possibility to rise up to 4,000%, which will allow the leading cryptocurrency (Bitcoin) to achieve the market cap of $4 trillion. Tyler and Cameron Winklevoss became the very first verified “Bitcoin billionaires” as they were among those investors who first invested in Bitcoin when it had the worth of only $120.

Bitcoin has been auspiciously compared to gold by the Winklevoss twins. They somehow anticipated that the digital asset (Bitcoin) will one day surpass the yellow metal. Also, Cameron Winklevoss said that the recent slump in the price of bitcoin didn’t cause him to dither from his sanguine prediction.

At Milken Institute’s MENA Summit, Winklevoss twins said that they still believe bitcoin solely can disrupt gold. “It’s even better than gold,” they said. Scarcity makes gold and Bitcoin is fixed in supply which makes it more durable, more portable and a lot better than scarce.

 

He said that based on this evaluation, the market capitalization of Bitcoin could end up similar to that of gold, which has the worth of $7 trillion at this time. He anticipated that the price of Bitcoin would set above $320,000 and its market cap would hit at least $4 trillion, and this has made the recent correction of Bitcoin, a striking buying opportunity.

He added, that today’s $100 billion market cap might have been almost $200 billion last week, and that’s what makes it a buying opportunity. The reason that it has got the capital appreciation of 30-40 times is that if we look closely at today’s gold market, it’s got a worth of $7 trillion. Many people have started to see that, and now they distinguish the store of value assets. So, it is still an underappreciated asset despite the fact, that its price has seen ups and downs in the last few weeks.

The co-founder of Winklevoss Capital notified that it’s obvious, this transfer of assets won’t take place immediately, however it could come to an end within the next 10 or 20 years. Tyler Winklevoss agreed with Cameron’s anticipation that “Bitcoin would disrupt gold” and added, that he believes that fiat currency will be eventually replaced by the cryptocurrencies.

He added that cryptocurrencies are not that significant for human-to-human transactions, however in machines-to-machines market economic value, they’ll have to plug into protocols such as Ethereum and Bitcoin. Later he elucidated that, given the innumerable applications of this technology, a lot of critical analyses from Bitcoin sceptics are specious. He concluded by saying, that the criticism of Bitcoin is a “failure of the imagination.”

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