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A Child poster for speculation

13 July 2017, bitcoin is the leading prima donna of the digital currency market. Anyhow, a big wall street bank does not impress by the crypto-storm.

James Faucette leads the Morgan Stanley’s team to hold up Bitcoin BTCUSD. +0.05% as a poster child for assumption although downplaying its potential as a valid currency.

In a report, analysts of the cryptocurrency note that online merchants’ percentage is low from last five years. This is the fact that price of the digital currency increases by 250%.

Faucette says, “The disparity between virtually no merchant acceptance and bitcoin’s rapid appreciation is striking.”

He has the responsibility for retailer’s quick appreciation in case of lack of bitcoin’s appeal, high cost with low transaction process. But unluckily, the main offender may be its rapidly growing worth.

Faucette says, “The ecosystem has focused more on value speculation rather than the foot-leather-eating work of increasing acceptance — way easier to trade speculatively than convince new merchants to accept the cryptocurrency.”

In early June, Morgan warned the cryptocurrencies to join the traditional investment tools. In this context, they need to accept the government oversight. Accordingly, it didn’t persuasive what that would demand.

Meanwhile, until the bitcoin’s regulation introduces, the discussion is over that Bitcoin is an alternative formula of monopoly money. Or, a genuine currency is expected to continue without a definitive conclusion.

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Think Your Life Is Hard? Man Threw Out Bitcoin Hard Drive Now  Worth $80m!

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A man has shared his pain after unknowingly unconsciously tossing out a Bitcoin hard drive seven years ago. The hard drive is now worth $80 million. Campbell Simpson, supervisor of tech site Gizmodo Australia, says he passed up a major opportunity for amazing wealth since he ejected a piece hard drive containing 1400 bitcoins. Seven years later, the Bitcoin market soared and Mr. Simpson’s apparently unimportant web money, which he purchased for $25, is currently worth $80 million dollars.

Bitcoin, which is online cash connected to a client’s digital wallet, is payment used to trade on the web and is acknowledged by numerous organizations. In 2010 Mr. Simpson’s 1400 Bitcoins were just worth around $25, however now, one Bitcoin is worth over $4,000.

‘I didn’t need or think about, anything on it. So I discarded it,’ he said.

At the point when usage utilization on the web began to explode, Mr. Simpson consistently – but bitterly – checked how much his 1400 was worth. After understanding his Bitcoin accumulation would have been worth $4000 a couple months later, Mr. Simpson was marginally irritated.

In any case, this month Bitcoin achieved a noteworthy high value, making his once-measly hard drive of worthless crypto a $6 million gold mine.

‘This is presumably a ridiculous thing, looking back, that I’ve at any point done. Also, I’ve done a considerable amount of idiotic things a ton of times,’ Mr. Simpson said.

The tech author says he has been offered advice on the best way to potentially recover the long-gone hard drive, however, he concedes he won’t try attempting to discover it. ‘I don’t even want to discover those Bitcoin, though. I’m truly content with my life right now. I needn’t bother with them,’ he wrote. ‘I’m for the most part really nice in life, I think, and I can giggle about it for like 95% of the time.’

Despite admitting he is not in desperate need of the hard drive, Mr. Simpson bemoaned the type of lifestyle he could live if he had $6 million – and says he could have even purchased a house in Sydney, ‘I could have purchased a house. In Sydney. At Sydney costs. I could have traveled the world or purchased a goddamn yacht or something,’ he added.

Here is a string of tweets he posted earlier this year:

 

Seems pretty pissed to me! What do you think of this unfortunate event? Let me know in the comment section below.

 

Story and image credits: Daily Mail

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A Beginner’s Guide to What Is Block Chain and How Does It Work

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What Is Block Chain

The Blockchain is a public ledger which is used to keep the record of Bitcoin transactions or the transactions made in some other cryptocurrency.

There are three essential technologies used in Blockchain and none of them are new. Instead, it is their arrangement and application methods that are new.

These technologies include:

  1. Cryptographic keys
  2. Distributed Network
  3. Record-keeping and network security.

In this article, we have tried to make clear as to how these technologies cooperate to secure the digital relationships.

Technologies Used in Blockchain – Cryptographic Keys:

Suppose, two individuals need to make an online transaction of bitcoin, each of them holds a public and a private key. Both the keys are in an encrypted form.

The principle motivation behind having a public and private key is to create a digital identity reference. The Identity of a client depends on the blend of two keys.

The blend of these keys is additionally called “digital signature”, which, consequently, gives a strong control of possession.

However, having strong control of possession is not enough to secure digital relationships. While authentication is solved, it must be consolidated with a means of approving transactions and authorization.

In Blockchains, this starts with a distributed network.

Distributed Networks:

The concept of distributed networks can easily be understood with the “falling tree in the forest” example.

If a tree falls in a forest and we have cameras to record the event, we can positively say that the tree fell since we have the visual confirmation. Same can be said in regards to distributed networks.

A substantial piece of bitcoin Blockchain is a huge system of validators – similar to the cameras in above example – where they reach an agreement that they all witnessed the similar event in the meantime. But instead of cameras, they utilize mathematical verification.

To put it plainly, the size of a distributed network is critical for the security of the system.

Distributed networks are one of the primary elements of “Bitcoin Blockchain“. At the time of writing, the system is secured by 3,500,000 TH/s, more than the top 10,000 banks on the planet combined.

The System of Record Keeping and Security:

Lastly, cryptographic keys are consolidated with the system to create a super useful form of digital interactions. The procedure starts with taking sender’s private key, then making a declaration that he is about to make a Bitcoin transaction — and finally appending his private key to the recipient’s public key.

With regards to the earlier example of falling tree, a realist may come up with the question, why there were dozens of PCs with cameras, holding up to record whether or not a tree falls.

Now, translating the same question in blockchain terminology, how do you attract the computing power for the maximum network security.

With blockchains, clients are offered special rewards in return for giving their PC’s processing power to secure the system. Which, ultimately, pulls in an extensive number of clients offering their machines’ computing power. The more the power, the more secure the system.

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Crypto Market Cap Goes Over $500 Billion – Here’s A Look At The Top Coins

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As the combined market cap of cryptocurrencies has leaped above $600 billion, the price of bitcoin and Ethereum is still on the top.

Cryptocurrencies Now Worth Half a Trillion Dollars:

The cryptocurrency market has now reached $643 billion, and it seems that it will certainly reach $700 billion really quick, especially when the market cap of bitcoin has already reached $284 billion.

Bitcoin Price:

At the time of writing, bitcoin price is trading at $16,958.90 with the market cap of $284 billion. However, last week bitcoin price was $17,184 which is that the price of bitcoin can also decrease within days.

Ethereum Price:

At this time, Ethereum’s price is trading at $875 and its market cap is $83 billion. Last week, it had a market cap of $65.6 billion, which means it has significantly increased just within a week. Ethereum continues to see growing transaction volumes also, as it has increased 9% within the last 24 hours.

Ripple Headlines:

Bitcoin cash is the third largest cryptocurrency that rose by 3% within a day. But its closest competitor Ripple is growing increasingly larger as well. At present, Ripple has a market cap of $18 billion, which means that if ripple repeats this single day performance one more time, it will definitely replace bitcoin cash and will rise to third in the ranking.

At this time, litecoin price is trading at $336, which represents a single-day increase of 2%.

IOTA is on number 6th in the ranking with the price trading at $5.37 at this time, with the market cap of $14 billion.

Dash and monero are currently valued at $1,598 and $460. NEM is on number ninth in the ranking, with the price of only $1 whereas, bitcoin gold has risen about 1.93%, taking it to the number 10th in the ranking.

News credits: ccn.com

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Warning issued by Philippines SEC to Crypto Investment Platform

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Like regulators in a number of countries, the Philippines Securities and Exchange Commission (SEC) has been increasing its concern over cryptocurrency related investments. It has recently warned a cryptocurrency investment platform because it offered unregistered securities. The firm known as Onecash Trading, recruits’ cryptocurrency traders as their affiliate members and promises to reward them in local currency, whenever they recruit new members of the same scheme for Onecash Trading.

crypto investment platform

According to that SEC alert, the firm Onecash Trading has been promising potential investors returns of 200 percent interest over eight weeks. Though its registered headquarter is not known. Onecash claims its global coverage of services across 73 different countries. In a statement issued by SEC, it was said that the firm is offering unregistered securities to investors in the Philippines.

SEC thereby warned the public that such investment schemes are not secure whether they offer traditional currency use of money or cryptocurrencies such as bitcoin, ethereum, litecoin, dash, monero or any other such digital currency. It was also stated that all such transactions are considered as securities subject to the regulatory authority of the SEC.

It was further stated that any person involved with promoting, selling and recruiting investment services for Onecash, no matter if he is a salesman, dealer or agent, the person will face prosecution and serious penalties up to 5 million pesos ($270,000) or imprisonment of up to 21 years.

Suggestions for Online Traders

The SEC has also shown its concerns that many online trading platforms appear to investors as SEC-registered and regulated companies or firms while in fact they are not. In the same way, many of these firms sometimes call themselves as exchanges, giving the pseudo impression that they are being regulated by national securities exchange. To cancel any chance of further fraud in this regard the SEC has devised a pack of rules in the light of which online traders should ask the following questions before they decide to trade digital assets:

  • Is your firm registered as a national securities exchange?
  • Can any information be found in FINRA’s BrokerCheck about any individuals operating your firm?
  • How do you ensure safety of your users’ trading and personal information?
  • What kind of measures you take against cybersecurity threats?
  • What kind of other services are provided by your firm?
  • How does your firm select assets for its digital trading?
  • Who can trade on the platform?
  • What is the trading criteria for your platform?
  • How do you set prices for your platform?
  • Are all the users treated equally or not?
  • Is your firm registered with the SEC for all the above-mentioned services?

The SEC hopes that the above measures would cancel any chance of fatal fraud in the online cryptocurrency related investments.

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It’s bitcoin era, Sweden incorporates and Iran investment firm using the bitcoin

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investment firm using the bitcoin

It’s a kind of breaking news that Sweden going to use bitcoin accounts. For that purpose, the government allows the sweden blockchain startup. Which directly means they opposed the traditional bank accounts. They pay their attention and prove their liquidity and incorporate domestically with the Swedish Companies registration office.

The idea of introducing an investment vehicle by the founder of Brave New World Investment to the companies traded on Tehran stock exchange. Six banks of Sweden rejects this idea.

Brave New World Investments might be considered as a violator of US approvals against Iran. Madeleine Idvardsson told to CoinDesk “we examined whether it would be possible to use bitcoin as non-cash property. Whereas, we found that it would be possible”.

For the company registration in Sweden by using bitcoin, incorporates have to sign a statement from an auditor. The property value must be less or not higher than the actual company’s value. The signed statement must describe the accounting principles for how the property’s value determined.

Bitcoin

As Johansson says” we want to invest in Iran. In good, hard-working companies and individuals.” accordingly, they are ready to invest in Iran without any difficulty. Two identical accounts were programmed bitcoin wallet addresses as subtitle account on 27 January.

therefore, accounts keep overlooking on transactions. Now, accounts are empty but reserves for further transactions.

World of Bitcoin and other cryptocurrencies will use for investment purpose in Iran. where they will be converted and invest in traded companies on Tehran stock exchange.

Liquefying climate

US and UE signs a comprehensive plan in Iran for peace development. EU keep going with an agreement but in the US, something going changes in response to missile tests. US president Donald Trump considered this tests as a threat and moved to tighten US sanctions on Iran. Iranian resolution of 1979 changes the world’s history again and sections against the country increase not only in daily routine but also highly create the effect on business with the nation.

With all of these negativities, Johnson feels that climate will be change soon. He clearly commits that the work will be obedient with both countries sections positions. He also added one thing that they are working crystal clear, they have the fair and proper setup of working. We have the proper system of an audit to make sure that we don’t allow money laundering.

Bitcoin world

It’s clear that Johnson’s firm is going to help Iranian companies to overcome the different obstacle by using bitcoin and other cryptocurrencies. As describe by Johnson that Brave New Company Investments was unable to get an account in Sweden due to violation and agreement issues. This is clear that bitcoin will not face any obstacle. bitcoin face already some restrictions and other are waiting for.

Johnson says, “sanctions create a strong impact. Both, on economically and in the humanitarian sense. They will totally cut from the international banking community”.

Johnson can easy elaborate that sweeten companies entered in the bitcoin world. whereas, they are unable to obtain bank accounts, buying anything, providing services in bitcoin and other cryptocurrencies.

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