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Two merchants, Brian Stutland of Equity Armor Investments and Path Trading Partners’ Bob Iaccino are least concerned about the tripling of Bitcoin’s price against gold and claim gold to still be a better bet.

While gold was exchanging at $1,280, Bitcoin has soared 240 percent this year to a high of $3,288 on Wednesday. However, Stutland and Iaccino trust gold is a superior wager than Bitcoin from technical and fundamental perspectives.

“When you look at gold over the past couple of months, [it has] tracked very well [relative] to the cryptocurrency,” Stutland told CNBC’s “Futures Now.” “If you price adjust and volatility adjust, I think gold still has a little bit of catching up to do.”

Iaccino believes that bitcoin’s popularity is undeniable yet it’s still highly unstable and could easily be replaced by another cryptocurrency.

“Bitcoin, right now, is the most popular [cryptocurrency] and it is the most valuable one,” he said. “But I don’t see it as a store of value because any [other cryptocurrency platform] could come out with a slightly better technology and completely replace Bitcoin.”

Moreover, on Wednesday, gold rose more than 1 percent, being one of the biggest safety trades during times of possible chaos. Bitcoin, on the other hand, fell back to the previous gains shown this week as it drops by 3 percent.

 

News credits: cnbc.com

image credits: cnbc.com

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LitePay Launch: Litecoin Price Has Seen 30% Upsurge!

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The price of Litecoin has seen a 30% upsurge on Wednesday after the news that Litepay (a payment processor for cryptocurrency) has been set to launch on 26th February. This rally elevated BTC/LTC to its all-time-highs in almost three years and allowed LTC to surpass the $200 marks.

Litecoin Price Surge:

The price of Litecoin at this very moment is valued at $232 with the market cap of $12.8 billion, that lifts it up to number fifth in the rankings.

Apart from the preceding pumps, the trading volume of LTC is consistently distributed in the major exchanges, all around the world. OKEx is the largest global bitcoin/cryptocurrency exchange, whereas GDAX is on the 2nd number.

Litecoin Price Surge

Tuesday’s rally was a straight response to the announcement that the payment processing company (Litepay) that was formed after the Bitpay industry, is scheduled to be launched on 26th February. This announcement was silently made by the company on Twitter on Monday, however, the word seems to have roamed slowly. They announced that they started is because people asked Bitpay to accept LTC and they wouldn’t, so they had to take the challenge.

According to the company’s website (based on San Francisco), LitePay will be offering many of the features similar to BitPay. Especially, it will be providing businesses with the proficiency to accept LTC payments that are settled up in fiat currency. Moreover, it is also going to release Litecoin debit cards, through which its users can fund with LTC and can use it at almost any retailer.

Since Litecoin price surge, Litcoin has been promoting itself as a “payment-focused cryptocurrency”, the formation of LitePay’s infrastructure will significantly aid its efficacy for this use case. But, then there’s another theory, that Litecoin’s strong pivot could be linked to the announcement, that a developer’s group will be diverging the main Litecoin blockchain on 19th February, for creating Litecoin Cash.

Chief executive and co-founder of San Francisco based cryptocurrency exchange, – Jesse Powell, shared some words of wisdom for investors. Although securities regulators are trying to find different ways of protecting investors from the sham activity, Powell put the whole burden on the investors. But at the same time, he also highlighted that combined market cap of all cryptocurrencies would hit $1 trillion in the coming time. He thinks that consumers have to look out for themselves and into the basics of coins, and do not have depend on any specific exchange to protect them from the market’s instability.

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How to Buy Bitcoins from PayPal In Two Minutes?

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How to Buy Bitcoins from PayPal

Buying Bitcoin can be tricky at times, especially when doing it through PayPal. This is because PayPal is credit while Bitcoin is more like cash. In the event someone buys Bitcoin and later decides to dispute the sale, PayPal will have no way of knowing if the transaction actually happened, resulting in the reversal of transaction. So, the company is always super cautious towards making Bitcoin transactions and doesn’t allow any coins for PayPal credit.

But don’t worry. We are living in 2017 – the age of the internet. There is always a way to do something indirectly if there isn’t a direct way to do it.

In this post, we have discussed some tips and tricks that will help you exchange Bitcoin with PayPal credit.

Give each a solid read.

Trading SLL (Second Life Lindens):

This one is quite tricky. More like a workaround. In this method, instead of transferring bitcoins through PayPal which is not allowed, you will be buying a different cryptocurrency, one that is allowed, and then trade it for Bitcoin.

One of those currencies is Second Life Lindens (SLL), which can easily be bought through a website called Virvox via PayPal credit. Once you have SLL, your next move should be going to an SLL/BTC exchange and exchanging it for Bitcoin.

Here are the steps involved in the process:

  • Go to Virvox and open an account.
  • Deposit money in your account with PayPal.
  • Buy SLL.
  • Exchange it for Bitcoin.
  • Withdraw your bitcoins.

The only downside of this method is that it’s slow and involves higher fees.

Buying Through Local Bitcoins:

Local Bitcoins is another option that can help you buy Bitcoin with PayPal credit. The website allows you to buy cryptocurrency from a local seller or an online vendor. But since you will be paying in PayPal credit, you can get in touch with vendors from all over the world.

However, when dealing with someone on Local Bitcoins, make sure you understand their policy and are ready to comply. Some sellers are overly strict and may end up turning into an ordeal for you.

Pro Tip: Always buy coins from an experienced and a well-reputed seller on Local Bitcoins.

PayPal Debit Card Holders Can Also Use This Method:

The US residents can easily issue themselves a PayPal debit card. The card makes it extremely easy to buy Bitcoin with PayPal on lower fees. To get the card, all you need to do is go, open an account on Circle and make sure that your debit card is connected to your profile.

From now on, every time you buy Bitcoin, the charges will be deducted from your PayPal credit.

Lastly – Don’t Let Yourself Become a Victim of Scams:

These three are the best options to buy Bitcoin with PayPal. Although you will come across many other sites claiming to be selling Bitcoin with PayPal, most of them are scams. Beware of them and stay safe. Good luck!

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7 Shocking Things You Can Purchase with Bitcoin Right Now

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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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Why Did Bitcoin.Com Co-Founder Switched To Bitcoin Cash?

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Emil Oldenburg, co-founder of Bitcoin.com, has sold his bitcoin and switched to Bitcoin Cash since he is distrustful about its future, as indicated by Breakit, a Swedish website.

bitcoin.com co founder switches bitcoin cash

Oldenburg said bitcoin is currently the riskiest investment someone can make.

He said bitcoin’s transaction times, fees, and lead times have undermined bitcoin’s value as an investment.

Bitcoin transaction fees have multiplied at regular intervals, and it now takes around 4.5 hours to affirm a transaction. Charges went up to $26 per exchange as of late, according to Ars Technica.

Bitcoin.com has millions of unique visitors each month, as per Similarweb.

Oldenburg said Bitcoin.com’s revenue numbers are expansive, however, he didn’t want to uncover subtle elements. His own particular salary and those of 60 associates in Tokyo have been in bitcoin.

At Stake Liquidity:

Bitcoin’s liquidity is at stake, he said.

Individuals have not perceived bitcoin’s inherent risks since most have just bought it and have not attempted to sell it or make trades with it. When they understand the risks, they will begin selling it.

The bitcoin organize is unusable, he said. The issues happen when exchanges are recorded on the blockchain. There is a predetermined number of exchanges a man can make for each second that depends on the block size that stores the exchanges. This restriction has made bitcoin an illiquid and unusable digital currency.

Misguided Management:

While these issues could be addressed, Oldenburg does not figure they will be because the system is controlled by what he calls “fanatical bitcoin Talibans.”

The authorities running the bitcoin network see bitcoin as computerized gold and a specialized experiment instead of something individuals use.

Bitcoin.com has quit creating services for bitcoin to concentrate on Bitcoin Cash, which split from bitcoin in August and has turned into the second biggest digital currency.

For whatever period of time that the bitcoin network is controlled by the current directors, bitcoin won’t be a money for regular use. Rather, Oldenburg sees the future in Bitcoin Cash.

Bitcoin Cash Has The Support Of Others:

Craig Wright, an Australian businessperson who once claimed to be Satoshi Nakamoto, recently tweeted that 2018 will be the year in which Bitcoin Cash reaches to its full potential, as its limitations will be evacuated and its security will be improved.

Wright called attention to that among what’s coming for the digital currency in 2018 are “secure limit frameworks to make even web wallets secure,” enhanced mixers, and transactions with improved privacy. When asked who’s dealing with these upgrades, and when a public roadmap would be available, Wright answered, “A few. More open soon.”

Roger Ver and Calvin Ayre, two bitcoin cash proponents, have also announced to use their influence to rebrand bitcoin cash as bitcoin.

So, the year 2018 seems to be full of interesting prospects for bitcoin cash. But, will all these predictions regarding BCH come true. We will have to wait and see.

 

Story credits: ccn.com

Image: Google images

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Mastercard Scrutinizes Blockchain To Fight False Identities

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Mastercard, which is considered as a payments giant has filed a patent, suggesting that it sees blockchain as a mean to protect the identity data. The U.S. Patent and Trademark Office (USPTO) released an application on last Thursday, that Mastercard has defined a system in the application, in which a semi-private/private blockchain would be used to collect and store identity information, including; name, tax identification number, and street address.

blockchain based database

The Mastercard company has stated in the filing, that the technology could help it to block the use of false identity data inside its systems, as it initially succumbed back in September 2017 and it seems like the Mastercard and blockchain get along with each other quite well.

Mastercard Company Statement

According to Mastercard:

“The use of a blockchain for the storage of identity and credential data may provide for an immutable storage of such data that can provide an accurate verification thereof and also prevent the fabrication of such data.”

The network proposed by Mastercard would just permit specific nodes to submit data. These authorized-nodes would work to avert the data addition that may negotiate the precision of the data stored within. The filing also elucidates that data files for all entities will be generated by the system respectively, which would be linked to a public key as well as geographic authority. The entities would be subsidiary, whereas a superior entity would carry out a digital sign on their data files.

Mastercard Approved Nodes:

Only nodes approved by Mastercard can update the identity information inside the system and according to Mastercard, the projected system could perhaps substitute other ways of demonstrating the identity that might be vulnerable to forgery and imprecisions.

The company also said:

“In such instances, it may be difficult for an entity to disprove a false identity, leading to an interaction with an inauthentic individual or entity. Thus, there is a need for a technical solution to provide for the immutable storage of identity and credential data that may prevent fabrication and inaccuracies.”

 

Until now, Mastercard has submitted numerous patent applications related to the blockchain. One filing proposed an infrastructure that could enable refund services for the users of cryptocurrency. Another filing explained a blockchain based database that could promptly process payments, notably dropping the transaction settlement times. Also, the payments tech company announced that it was going to hire 175 new technology developers, as well as blockchain specialists.

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