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A newsletter from The James Altucher Report stated that Amazon to accept Bitcoin soon. It is said that this will be officially announced on October 26th during their earnings conference call.

So, will Amazon really begin accepting Bitcoin?

There are still some speculations on this statement, however, since eBay and PayPal already accept bitcoin and with Google recently joining the community. It’s only a matter of time until Amazon follows the same path.

Back in 2013, Amazon Web Services partnered up with Digital Currency Group i.e. one of the major investors in bitcoin and blockchain firms in order to:

“… provide such a service so the blockchain providers in DCG’s portfolio can work in a secure environment with clients who include financial institutions, insurance companies and enterprise technology companies.”

Basically, Amazon’s aim is to be the intermediary between DCG’s portfolio and their customers while transacting cryptocurrency.

According to Altucher’s newsletter:

Amazon is “working with financial institutions and [crypto experts] to spur innovation and facilitate frictionless experimentation.”

If Altucher happens to be right about this then once this news is announced, it could cause a massive boost to the cryptocurrency’s price.

We’ll have to wait to wait until October to find out what’s in store for us.

Story Credits: steemit.com

Image Credits: change.org

Tags: Amazon Bitcoin, amazon bitcoin payment

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Will Sam Ling Beat Warren Buffett With Cryptocurrency?

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Chinese entrepreneur Sam Ling and his partner spent 2.35 million US Dollars in 2015, on a bid on a private lunch with one of the richest man in the world. This richest man was no other than Warren Buffett, whom Sam Ling still considers his idol. The main purpose of such a costly and unusual lunch was that they were hoping to get some real time advice from the legendary investor in terms of their cryptocurrency index project which could lead to nourish their future investment plans in the same direction. Even today, the 31-year-old Sam Ling still uses the photo of that memorable buffett as his phone’s wallpaper to pay a debut to the legendary Warren Buffet however, his present day intentions are quiet thrilling as now he has a motto of beating his hero on the sticky grounds of cryptocurrency.

cryptocurrency index fund

In Spite of such “Deadly” intentions, Sam Ling, now founder and CEO of Supwin Financial Services Group exclaimed in his interview with CNBC that Buffett is still his idol, he has been pursuing and studying his investment strategies for so many years just as a loyal fan of his without any ill intentions.

 

In fact that loyalty of Sam King did not stop him from betting even something bigger than his last bet on Buffett. According to Sam’s opinion the world’s third-richest person Warren Buffett will come to a bad ending due to cryptocurrency index fund.

What Did Sam Learn From Warren Buffett?

Many people have asked that question from Sam Ling which also seems to be a key to his present day success. The answer of Sam to that question is very simple, If there’s anything really learned from Buffett, it was just an appreciation for index funds. Ling, however, innovated that outlook to his own concept of digital currency kingdom.

 

The term cryptocurrency index may be new for some our readers as it is not commonly used. The fact is that most of the cryptocurrencies i.e; bitcoin are too much unstable to become a trusted mode of investment, and that’s why investors like Sam Ling have started to launch cryptocurrency indexes of their own in order to bring their crypto investments to a relatively safer mode. It has been noted that over the past few months, Sam Ling’s cryptocurrency index has a lower decline rate as compared to the bitcoin. That ratio pertains to the corrections, on the other hand outperformed bitcoin by 50 to 80 percent during upsurges.

Further Progress By Ling

Ling has not stopped yet, he has finalized his plans to launch the “BB Index”, which is an advanced form of that kind of index and will consist of a family of 26 cryptocurrency indexes. These indexes would be further grouped by market capitalization according to their categories and strategy. These indexes would range from a “Blockchain Top 7 Index”  to a “Blockchain Top 50 ex top 20 Token Index”.

 

The major difference between these two kinds of Blockchains is that the “Blockchain Top 7 Index” covers the largest cryptocurrencies while “Blockchain Top 50 ex top 20 Token Index” is used to represent mid-cap assets. All these indexes are updated every three minutes on the company’s official website according to Sam Ling.

A Summary Of Buffet’s Conversation With Ling

Later Sam Ling shared a summary of his conversation with Buffet. He related that Buffett discussed a lot of core issues with him and his friend during that precious lunch, but in the end, he just gave them a piece of advice that they should focus on what they were doing and were already successful at. Ling further recalled the conversation which took place ten years ago in which Buffett made it clear that he believed in the craze of cryptocurrencies which will not come an end and will keep on increasing with the passage of time.

 

When asked what were his thoughts about the fate of cryptocurrencies, Ling exclaimed that in his opinion cryptocurrencies would meet a very bad ending and those who are investing in it including his idol Buffet, they would have to pay for their overconfidence.

 

On the other hand Ling also stated that he was quiet confident that the BB Index devised by him would even beat traditional crypto investor including Buffett. He further stated that Warren Buffett just won a 10-years bet stating that an index fund would outperform a collection of hedge funds over that time. Now, Ling has a bet that his cryptocurrency index will outperform Buffett’s portfolio over the same period of time.

 

According to a correspondent of CNBC when they reached out to Warren Buffett’s office in order to know his views in this regard, they could not receive any satisfactory response.

 

We are waiting for your worthy opinion in the comments section below.

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Bitcoin Sign Guy Nets Almost $15,000 – Here’s How!

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13 July 2017, It pays to be the Bitcoin sign guy. Don’t believe? Look up the new data released by Blockchain.

Main Story:

Yesterday, Bitcoin world was humming during congressional committee by Federal Reserve chair Janet Yellen. Where the image of sign speedily gets viral in few hours, yet the attendee with his partner was eventually asked to leave by a staffer.

After his arrival, it emerged that the solitary is a friend of cryptocurrency broker who tweets under the knob CryptoEthan. He also posted a picture, soon he will recognize as Bitcoin Sign Guy. In addition, he will have the complete authority to share Bitcoin and hold the now-infamous sign as well.

Although, his gathered address is 6.32570673 BTC, with the amount under $15,000 at the existing price. whereas, it holds the transaction with 556 number according to blockchain.info. That was small in scale with a 1BTC contribution.

Later on, that photo was deleted at Bitcoin Sign Guy’s request. This viral activity drove numerous scams tries with photoshopped versions of the original picture.

Story Cerdit: Coindesk

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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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Bitcoin forums – top rated bitcoin platforms

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Satoshi Nakamoto familiarizes Bitcoin anonymously around the world. The online digital currency was published in late 2008 on cypherpunk mailing list in its white paper. Furthermore, cryptographer follows the same method in the 1990s.

However, bitcoin has few online, offline and social media forums. We will discuss some top bitcoin forums in this article.

Online Bitcoin Forums:

A passionate community of the users, developers, businesspersons, investors follow the expansion of the bitcoin. Members of this community have a discussion about market trend, share their ideas regarding digital currency on both online and offline platforms. Following are few online platforms for the discussion.

The Bitcoin Mailing List:

Propagation of the bitcoin adoption among the public needs more development. Basically, they need a platform to share their ideas and developers start working on its core software to provide such comfort to the users. In 2011, bitcoin mailing list introduced on Linux foundation server especially launched for this purpose.

Where everyone has the opportunity to join the list. While brokers only allow posting on topics.

Bitcointalk:

A bitcoin platform, where bitcoin community is free to have a discussion about the Bitcoin technicalities. This forum was the part of the bitcoin.org in early 2011. Sirius owns this domain and admin goes by Theymos.

This platform is common for the signature campaigns or promotion messages attach to the comments by users. Those who meet the requirements for this feature, take compensation from the advertisers.

Reddit:

News accumulating site, which allows its users to arrange communities such as subreddits around topics of interest. Two most common subreddits such as r/Bitcoin and r/BTC, among the users, with 230,000 and 36,000 subscribers.  r/Bitcoin was the one-man show in late 2015. But, when scaling debate occurred, facilitators amended the discussion that supported Bitcoin XT. In addition, an increase in block size slightly than second-layer solutions. Then, few members launched r/BTC to reclaim their voice.

BTCwarriors:

A discussion site, where you are free to talk about the Bitcoin and have a lot of discussions about it. You can visit the site http://btcwarriors.com/

Social Media:

Bitcoin has covered all the aspect of the interest. It has the community channels, groups, lists, pages on all well-reputed websites. A large number of the companies have created channels on various platform such as slack to cover all the aspects of the cryptocurrency.

A single click on Facebook or Linked in will brings a wide information in front of you. Whereas, for other including WhatsApp, Telegram or slack – you need a group or network to proceed.

GitHub:

A forum where developers teaming up to work on the projects. Bitcoin has a source on the platform with the thousands of the commits from bitcoin core developers. In short, this is a place where only developers allow for underwriting the discussion by using their cryptographic code.

Offline Forums:

Three well-known Bitcoin forums provide the physical meetups, conferences, and hackathons.

Meetups:

Bitcoin community has active meetup groups around the globe. Meet.com facilitates such type of groups. Member of this bitcoin trading platform has the meeting once or twice in a month and share their experiences, market trend and current situation accordingly. In addition, few groups have to launch the pads for startups, a marketplace where anyone has the total opportunity to buy and sell physical bitcoin.

Bitcoin Conferences:

By attending the conferences, you have the opportunity to interact with others business holders, developers, talk persons from different communities.

Hackathons:

Hackathons were organized and developed by Bitcoin software developers and contributors. Contributors use them to showcase their innovations and compete. You can easily find such type of events around the world.

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Bitcoin balloons on overheated air

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Spotting bubbles have become a national passion after dot-come and the housing bubble burst in 2000 and 2008. Moreover, few year back investors use to spotted bubbles in gold, equities, credit, and bonds as well.

Here, I will not discuss b-word here to describe those investments. Accordingly, not even nominate any of them. I will give that division to digital currency named bitcoin and its brief Bitcoin Info.

Bitcoin has all characteristics of a bubble in making. First, it totally new. Second, a digital currency that allows the public to do transactions freely without any second party. Where the transactions are controlled by the proper network of computers.

British journalist Mike Dash in his book “Tulipmania” in 17th-century states; “It is impossible to comprehend the Tulipmania without understanding just how different tulips were from every other flower known to horticulturists in the 17th century.” Same sayings with the internet in the 1990s and about cryptocurrency today.

Second, bitcoin is something scary. Like, both parties took part in transaction process anonymously. Which is being the interest for scams, hackers, and criminals as well. Just like a mystery. Similarly, creator of the bitcoin goes by Satoshi Nakamoto, but it is totally unclear who that person is, or is that only one person?

It reminds the bubble in 1720 at the height of the England South Sea bubble, a company floated shares “For carrying-on an undertaking of great advantage but no-one to know what it is.” Definitely, investors do not stop investing in the company.

Third, the thing which makes the bitcoin susceptible is its value. An investment in Bitcoin gives the return of 351 percent annually inspection in July 2010 through Tuesday. To put that in standpoint, investment of $100 is equal to $3 million today. It’s totally an insane return from any investment like Bitcoin Battle.

Riding the wave

In 1720, a share price of the company South Sea rose up to 400 percent within three months and collapse quickly.

Digital gold

Bitcoin is not different from other commodities like gold, oil, vegetables etc. Nevertheless, government and currency market exchanges are standing behind the system. Whereas, with the commodities, investor hold the something at the end of the transaction process. However, bitcoin is something more speculative because it is a digital money.

This treatment is not only with all the investments. A shareholder is enabled to share the company’s assets, sale and purchase transactions. Same as bond’s payments of principle and interest.

This division of value allows many observers to warn that internet stock in the 1990s. In addition, during the housing bubble mortgage bonds were not safe. Similarly, this sort of statement is not possible about the bitcoin.

Good luck!

Tags: bitcoin investment trust

 

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