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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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How to Protect Your Privacy and Bitcoin Security Online?

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Bitcoin Security Online

In today’s world, maintaining online privacy and security has become quite a big deal. Despite all the technological advancements, the hackers are still able to find ways to breach the security of internet users – especially those involved in Bitcoin transactions.

Since Bitcoin is the most valuable form of digital currency out there, hackers particularly target those who prefer to store their wealth in the digital realm.

But it’s not only hackers that are stealing your data. Government and non-state actors also spy on your personal information. But don’t worry, there are many steps that one can take to secure his online privacy and the Bitcoin security.

First, we will talk about how to protect your privacy online.

How to Protect Your Bitcoin Online:

Online Bitcoin Security:

Web Browsers That Are Privacy-Centric:

There are very few browsers that put user privacy on top of their priority list. Brave browser, Mozilla’s Firefox and Tor browser are few to name.

Here is a brief idea as to how each of these browsers works:

Brave browser:

  • Blocks ads
  • Blocks tracking applications
  • Uses bitcoins incentives to give users a better experience

Mozilla’s Firefox:

Mozilla Firefox is a great tool if you want extensions that focus on security and confidentiality of a user.

Tor Browser:

One of the top-notch browsers that provide complete anonymity to its users. Some highlights of Tor browser include:

  • Hides IP
  • Obscures the proxies
  • Allows users to surf websites that are not indexed on traditional browsers like Google Chrome.

Use a VPN:

A Virtual Private Network (VPN) changes a user’s IP address and server location. Moreover, they provide re-routing and encryption which provide the users with complete anonymity. As a result, third parties are unable to track the location and interfere with the privacy of a user.

Use Email/Messaging Services That Provide End to End Encryption:

Use privacy-focused email services such as Tutanota, Protonmail, etc. as they provide end to end encryption. These services are extremely useful to communicate with other users without giving away your personal details.

You can also read our guide on the safest Bitcoin wallets to ensure the safety of your Bitcoin assets.

How to Protect Your Bitcoin Online?

Following are the ways that can help you keep your bitcoin safe from a security threat.

Multi-Signature Transactions:

The system requires more than one person and keys to authorize a Bitcoin transaction. It’s a digital signature scheme and protects the cryptocurrency from being spent without informing all the signers.

Cold Storage:

The system involves storing your assets offline. Cold storage helps to keep your bitcoins away from intruders. The cold storage techniques can store online wallets, offline wallets, paper wallets and other forms of protected media.

Backing Up the Information:

Most the privacy and security-focused services use passwords, PINs and secret phrases to gain access. Backing up these details so they won’t be lost is a good idea.

Learn how to backup Bitcoin wallet and other related information here.

Make copies of your security codes, PINs, password and store them in secure, offline location. If you don’t backup the information and, unfortunately, lose your wallet – there is no way to recover the lost assets.

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Goldman Sachs – “Most Cryptocurrencies Will End Up Hitting Zero”

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According to Goldman Sachs, the cryptocurrency markets will not recover from their present correction. On 5th February, Steve Strongin (Goldman Sachs head of investment research) said, the high correlation between several cryptocurrencies makes him really anxious. Some currencies that do not survive are expected to trade to zero due to the lack of intrinsic value.

Strongin is worried about the possibility that maybe one or a few of the existing cryptocurrencies could ascend from the speculative bubbles, just like the crypto equivalents of Google or Amazon. However, he said that he doesn’t think that most of the coins will ever recuperate to their all-time highs.

There have been many questions arising like, is there any cryptocurrency that’ll be like Google or Amazon? Or are they going to end up just like the other now-defunct search engines? Strongin said that this doesn’t mean that the prices of cryptocurrency cannot increase at all because they are in a speculative bubble at this time. But at the same time he said, that most of the cryptocurrencies might bounce back to their all-time highs, but some of them are never going see their current peaks ever again.

most cryptocurrencies will end up hitting zero

This clearly shows that the speculative bubble is coming to its end and rather than as a collective asset class, investors are going to start judging the cryptocurrencies from their individual merits as a lot of casual retail investors are already familiar with it. It also seems like the ICO (initial coin offering) success will suddenly come to its end.

Strongin said that the winners-take-most sight of the market is not very unique to Goldman Sachs. On Wednesday, the founder of DCG (Digital Currency Group) Barry Silbert, offered the same remarks at “Yahoo Finance All Markets Summit: Crypto” with explicably more positive stance on the entire industry.

According to Silbert, a huge majority of crypto-assets are facing a binary outcome. They are either going to become extremely valuable or they are going to become worthless. He added, this is why Grayscale Investments (a DCG portfolio company) launched its newest product, a fund related to crypto-asset investment and it holds the market cap (weighted positions) in the most major five cryptocurrencies and balances it again quarterly to imitate market movements.

Many other experts have also warned the investors on cryptocurrencies. Nouriel Roubini, who’s a well- known economist said on Tuesday, that the price of bitcoin would also crash to zero. Warren Buffett also said in a recent interview that cryptocurrencies are definitely going to have a bad ending.

 

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Bitcoin Price Analysis 2017 – The Drop in Bitcoin Value is Not Real

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Marc Kenigsberg, The CEO of JamWorx states that the Recent drop in the Bitcoin price is a slight retreat from the highs of 2017. In Kenigsberg’s views, there are two main factors which are causing to reduce the value at the moment: Some of the speculative money invested in the last few months by some external investors have reserved off the tables as profits.
The market is still behaving to Bitmain’s threat strategies and the threat of a possible hard fork as a reprisal for UASF.
Bitcoin is ultimately almost 150% YTD and I’m not worried at all. Obviously, the basics are strong and the demand for Bitcoin is increasing.

Image Credits: coinjournal.net

What Is the Best Time to Buy More Bitcoin?

Marc also describes that the merchant adoption for Bitcoin is at all-time high and the ecosystem is analyzing record amount of everyday transactions.

Furthermore, an extensive interest is in Bitcoin as a way of payment and there is a fundamental understanding of what it can do.

Marc also explained that if more merchants will accept Bitcoin, then more people will use it and more people will want to get it than ever before. The increased price of Bitcoin is a correction of the aspects that underestimated the price of Bitcoin.

He also advised the community that not to sell Bitcoin and hold them since the price of Bitcoin will surely go high soon.

He further recommended as now is the best time to buy more for everyone that can. From his thinking, a price tag of $2500 may seem an expensive to people today, but it is going to look cheap in a year from now.

Did Speculation Push the Price of Bitcoin?

Marc disagreed that the last price rally of Bitcoin was just because of the speculation. Moreover, he explained that there is a speculation in almost every currency of market but it was not the key factor to increase the price. He also described that the increased price has been the main catalyst for the speculation.

He believes that the world is going to accept and understand Bitcoin as an effective payment method and this is the point which is driving the price up.

Story Credits: Cointelegraph.com

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