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Bitcoin is for the unbanked – and those who’d like to get unbanked. Transferring bitcoins to bank account is not viable, but buying is. There are several exchanges that allow the feature of buying bitcoin with the bank account. The most renowned ones being:

CoinBase:

CoinBase is the world’s biggest Bitcoin broker. In the United States, you can purchase bitcoins with an associated bank account by means of ACH bank transfer. In Europe, you can purchase with your bank account by means of SEPA exchange. Buys made with ACH take 5 days for the coins to be conveyed, while SEPA buys take under two days. CoinBase charges 1.49% fee on all exchanges. Americans may include a Visa or Mastercard as reinforcement to unlock instant payments by means of bank transfer.

BitStamp:

Bitstamp is one of the world’s biggest Bitcoin exchanges. It makes it simple for Europeans to buy bulks of bitcoins quickly with SEPA bank exchange. Practically anybody on the planet can utilize their bank account to send a wire exchange to Bitstamp. Fees may apply.

Kraken:

Kraken is the world’s biggest euro-designated Bitcoin exchange based on daily trading volume. It underpins bank transfers from US, European, Canadian, British, and Japanese clients and deposits can be made through SEPA exchange and international bank transfers.

So, these are the top three Bitcoin exchanges which allow their clients to buy bitcoins with the bank account. based on your location, choose one that you are most convenient with.

Tags: best place to buy bitcoins, buy bitcoin with bank account

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Everything you need to know about Segregated Witness

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I have been noticing on many online bitcoin districts that various users are unable to understand the concept of Segregated Witness. This post will clear up any doubts, uncertainties, and myths regarding SegWit.

So, what happens in SegWit?

SegWit is short for Segregated Witness and it’s a proposal presented by the developers of Bitcoin Core. Originally it was aimed to solve the transaction malleability, which is a well-known weak spot in the Bitcoin system. The idea behind SegWit is that the signatures in a transaction, also known as the “witness data” are skipped when calculating the transaction id.

Basically, SegWit will update the 1MB size block limit to 4-million unit block weight limit. This counts serialized
witness data and one unit and core block data as four units. This is an entirely new transaction format, meaning the block size is increased. SegWit counts each byte in a witness as 0.25 bytes towards the 1MB block limit, thus the maximum size of a block becomes just under 4MB.

It’s not that the data gets smaller, it’s just counted in a way that allows for the block limit to be increased.

The short/easy version

In simple words, signature related data is removed from bitcoin transactions, causing them to appear smaller in size. Also, making the block size smaller, further, allowing more transactions to take place.

 

Clearing up myths and rumors

Myth: SegWit as a soft fork is much more dangerous than a hard fork

A soft fork ensures that the backward and forward compatibility is under control. Also, when a soft fork is set up, old versions of Bitcoin software will be able to function without any faults. On the other hand, a hard fork requires every Bitcoin user to update to the new software to support the consensus rules. Any user that fails to upgrade to the new software might be under the risk of getting thrown off the Bitcoin network.

 

Myth: SegWit is more complicated than a super simple hard fork

Similar to a hard fork, SegWit proposes the same idea of increasing the block size limit. No doubt, it is pretty complex and introduces several changes, but it is a relatively simple conceptual change. Basically, SegWit ignores the signatures when calculating the transactions, but as a soft fork, some additional changes must be made to make SegWit transactions compatible with non-segwit nodes. These changes then have side effects which can be beneficial to Bitcoin. It also contains more functionality than a hard fork increasing the block size limit. The hard fork to increase the block size limit also appears simple, but additional changes need to be made to support the deployment and to solve the quadratic hashing issue with transactions.

 

Myth: Miners who don’t upgrade to segwit will be forcefully told to quit the bitcoin network

This is false since SegWit will be deployed using the BIP9 versionbits which uses a 95% threshold. A miner would not run into any trouble, as long as he follows certain rules. However, if he fails to follow these rules, he could end up with transactions including witnesses but he wouldn’t be having the witnesses nor the witness root hash in the Coinbase. This would be an invalid block that would be in the orphan pool.

 

What are the benefits of SegWit?

Besides the obvious benefit of having to increase the capacity, there are several other benefits that come with the introduction of SegWit. Some of those benefits are:

  • Node performance is tested based on how weighting data
  • Signature covers value
  • Linear scaling of sighash operations
  • MultiSig gets more security
  • Script versioning
  • Increased security to almost-full-nodes

Why hasn’t SegWit been activated yet?

If there is not enough support shown, it might result in a contentious fork. That means a part of the network switches to the new client while some remain to use the older version. This leads to two sets of cryptocurrencies with different rules, co-existing and competing for users and legitimacy.

In order to avoid such a situation, the developers of SegWit have programmed a specific rule in the software proclaiming that it will only activate once it reaches the 95% mark.

Currently, the support is hovering around 32-33%. 

Everything you need to know about Segregated Witness

 

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A Blockchain Based Real Estate Platform Goes Live In The US

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ShelterZoom, an Ethereum blockchain-based online platform for the real estate, has gone live in the U.S., with worldwide markets to go live in the first quarter of 2018.

New York City-based Cyrus Charter, the first customer on the platform, is in the midst of an initial test for the ShelterZoom stage that started in November. What’s more, 10 clients have started a beta test. The organization recently announced its first WordPress real estate theme affiliate, Estalik, and its first Australian organization, Arena Property Agents.

ShelterZoom is intended to streamline the way toward making and accepting real estate sales offers, decreasing printed material and enhancing the transparency of purchasing and selling. The framework has been worked to the Real Estate Standards Organization principles.

The ShelterZoom online incorporates a dashboard, the Offer NOW gadget, and a portable application which is accessible on Google Play and iTunes, empowering buyers and specialists to instantly submit offers from online real estate listings with only a couple of clicks or taps.

Sign Ups Are Being Accepted:

The site is now allowing sign-ups for the Offer NOW gadget, which can be coordinated with any affiliate site including real estate listings with a couple of lines of code, at no cost to the sign-ups before Jan. 31, 2018.

ShelterZoom charges $8 for each offer submission following the free beta timeframe finishing by Feb. 28, 2018.

“ShelterZoom is well positioned to bring the whole real estate industry onto it,” said Chao Cheng-Shorland, prime supporter, and executive. The gadgets can be received by any real estate site. Cheng-Shorland drives the multi-national team alongside fellow benefactor and chief Amir Allen Alishahi.

“Standardized, straightforward, and secure offers are the eventual fate of the business,” Cheng-Shorland included.

Versatile Dashboard:

Clients can track, accept, reject or counter offers progressively, while purchasers and operators can track offer statuses on their ShelterZoom dashboards. All parties to an exchange can get push or text notifications all through the procedure and chat with each other.

“We will see quick adoption of blockchain technology by commercial centers, associations, and whole enterprises,” said Sergey Fradkov, ShelterZoom technical advisor. “Blockchain and related digital money usage will empower new plans of action and streamline collaborations between members. They will likewise empower new members to rapidly build up themselves in the business fragments and create numerous new business opportunities.”

Canada, Australia, Europe, and countries in the Middle East are set to go live on the platform in the first quarter of 2018.

Story credits: ccn.com

Image: Google images

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Is It A Scam Or Telegram ICO Has Really Hit $1.7 Billion?

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The most hot news circulating at all the major crypto platforms is about Telegram ICO which has hit $1.7 billion according to the public documents shown by the company. It was announced in these documents that the second round of Telegram ICO had just succeeded in raising $850 million. This amount was being attained in a sale that began on March 14.

It was also reported in these documents that a total of 94 investors took part in the above mentioned funding process. Average individual investment was recorded to be $9 million during that funding process. It is also a notable point that the previous funding of Telegram ICO also comprised of $850 million. It had a total number of 81 investors and the average individual investment was $10.5 million at that time. These documents were filed with the US Securities and Exchange Commission.

us securities and exchange commission

Report submitted to SEC

Both the above rounds of investments were being reported to the SEC. The submission of this report took place under Rule 506(c) of Securities Act Regulation D. it must be noted that this rule allows unregistered securities issuers to accumulate an unlimited amount of funds as long as they follow the below mentioned rules:

  • The company raising these funds must file a simple report with the SEC.
  • Such a company must bound its contributions to accredited investors.
  • The investors of such funds must submit a predefined vesting period before they sell their stakes.

Is Telegram ICO Opaque?

Somehow, Telegram ICO has managed to remain transparent during the all that fund raising process and has followed all the rules and regulation. Along with the handling of the ICO, it has also been significantly transparent.

However, it is not clear whether this fundraising success will conclude the firm’s token sale or the company will continue to raise more and more cash for the aforementioned project in the upcoming days.

Aftermaths of Telegraph ICO’s success

No doubt to raise such an amount of funds in such a small span of time is a huge success, it has also scared many big-name investors right away. Even the well known cryptocurrency giant Pantera Capital is among those who are a bit terrified with the success of Telegraph ICO.

It is being expected that Telegram Open Network (TON) will soon be a revolutionary blockchain for the third generation era of crypto investments. The native token of Telegram Open Network is known as the “Gram”. So far TON has a network capacity of processing approximate 1 million transactions per second virtually free of cost.

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Blockchain Technology – Will It Change the Future of Accounting Industry?

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There’s going to be a major technological change in the accounting industry soon. No doubt cloud-based technologies, artificial intelligence and process automation have influenced the world, but the most promising one is “blockchain.” If we combine blockchain and accounting, the combination of both can offer some far-fetched business benefits. However, the first question arises – what is blockchain?

what is blockchain

Blockchain

  • Blockchain is a continuously growing, decentralized public ledger of all transactions.
  • Completed transactions/records are called blocks and are dispersed to a P2P network of computers.
  • Blocks are linked to each other in a linear/sequential order.
  • Each block comprises a cryptographic hash of the preceding block, which ensures that the data is secured.
  • The data can be dispersed in a secure way and once the blocks gets recorded, they can’t be changed without shifting blocks subsequently, and that would require the involvement of the majority of the network.
  • When a record is changed, it is allotted a new hash.

Blockchain and Accounting

Blockchain and accounting are related in many cases. Blockchain technology offers the subsequent logical step for more high-tech accounting with various potential influences.

  • Blockchain offers an instant-verifiable and strong set of records that can’t be meddled or changed without the involvement of the whole network.
  • Transactional data would be promptly recorded and added at any time to the blockchain through its own exclusive and unique hash code.
  • If accountants/auditors want to recover that data, they will be required a pertinent hash code.
  • Having blockchain work as a record for transactions will not require the accountants/auditors to interact different departments amidst businesses to get receipts in order to validate transactions.

Streamlined Accounting Strategies

  • Accountants and auditors can standardize records through blockchain and combine them in a ledger, making it accessible to all verified and approved users.
  • When all transactional data is gathered at one place and updated electronically – whenever an alteration is made, accountants and auditors can assess all the activity and can cooperate with the departments to settle accounts.
  • Through such approach, the cost and time linked with manually swotting the transactions can be condensed significantly.

Promptly Verifiable Transactions

  • For auditors, validating transactions and asset history is important, however, this process can take some time and can be complex, especially when businesses have diverse accounts.
  • As data security is becoming more important, blockchain offers a means of demonstrating that files have remained inviolate.
  • With a unique hash, auditors can simply “cross-reference” and can instantly validate transactions.
  • If a record is changed later, a new hash is created and the record once again gets timestamped.
  • If this information varies from what an auditor has there, they can be sure that the record has been altered, as they will have a clear review trail.

blockchain and accounting

Better-Quality Acquiescence and Regulations

  • If we talk about compliance, many companies take quite a few months to modify/update their core accounting and finance developments to put up new regulations, strategies, and standards.
  • With blockchain, alters to the ledger are manifested across all copies within just a few
  • As it’s a decentralized database, no radical changes should be made for the alteration of data.
  • If an accountant wants to update a record, this can be done quite easily and quickly.

Future of Accountants and Auditors

  • The major change – banks have begun to offer accounting type amenities as a chunk of business package.
  • NatWest applied Open Banking protocols in 2017, to share information with FreeAgent, which is a cloud-based accounting product, providing consumers more discernibility over the course and letting them share their data directly amid the bank and accounting software.
  • By adding blockchain and the accurate software to the combination, the record-holding procedure could be mechanized and, by means of open banking protocols, data could be directly shared.

Is there a need for an accountant?

  • The future of accounting/auditing lies in combined-keys as they all can interconnect with each other instantaneously whilst distributing unparalleled sanctuary.
  • Though many would see the technology as a risk, however, it’s a chance for auditors to concentrate on regulations and explore irregularities inside the transactional environment.

The blockchain is a chance to boost processes, however, auditors and accountants can apply their proficiency and vision to deliver value to the customers.

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Earn Bitcoins easily with BitMaker

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Earn Bitcoins easily with BitMaker

What if you could earn bitcoins every 30 minutes with the least amount of effort? That is the point of BitMaker. It’s a form of advertising where the viewer of the ad also gets paid in the process.

BitMaker is a Bitcoin-powered mobile application developed by Seattle-based blockchain adtech and payments company CakeCodes.

Get Started!

First of all, you need to download the BitMaker app from Google Play Store. Then sign up and create an account along with a Bitcoin wallet, in case you don’t already have one.

BitMaker sends bitcoins directly to your wallet. You must update your wallet address each time you receive a bitcoin payment.

 

How does it work?

Users just have to try out other mobile applications or fill out forms of free trials for various products and services. Users are rewarded with in-app tokens called “Blocks”. These blocks can be converted to bitcoin or ether once it reaches a certain threshold.

When you open the app, you’ll be presented with a percentage that will slowly increase. When it reaches 100%, you earn 500 Satoshi. Since you get paid this amount every 30 minutes, you earn 24,000 Satoshi every day.

As you can see in the above screenshot, there is a timer. The counter begins at 30:00 and when it reaches 00:00, an ad is displayed after which you get paid.

Fortunately, the app has both “day” and “night” modes. In the day mode, the ad has an audio whereas at night they’re just silent videos.

 

How does BitMaker pay you?

If you keep earning enough Satoshi and meet the withdrawal threshold, BitMaker will pay you every Saturday. Withdrawing your rewards is very easy, all you need to do is update your Bitcoin Wallet address then click on “Withdraw”. You will get your rewards deposited to your Bitcoin Wallet the following Saturday.

The weekly reward for Satoshi changes every week since they are in line with the Bitcoin trade prices. You can earn more Satoshi by completing offers which offer more number of free bitcoins.

 

BitMaker Now

Since its launch in September 2014, BitMaker now reports it surpasses 250,000 active monthly users across 187 countries.

According to the BitMaker website, the app has paid out over 215 bitcoins and 34 ethers up to this point. This amounts to over $275,000 worth of payouts at current exchange rates.

On April 30th, CakeCodes is launching an equity crowdfunding campaign for BitMaker on Wefunder.  CakeCodes intends to use the money from the Wefunder campaign to increase user growth, fast track development for an iOS app and add new features to the existing Android app.

“Nearly $600 billion is spent on global advertising, and yet many ads are simply ineffective,” said Simon Yu, CEO of CakeCodes. “Advertisements are everywhere and people automatically tune them out. We wanted to combat this by giving consumers the option to opt in and get paid for their time used on trying a new product. With Bitmaker, end-users get paid, businesses only pay upon engagement, and customer acquisition costs are dramatically decreased. Everyone wins. What we’ve done is create a simple, fun way for consumers to be rewarded for trying cool new products.”

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