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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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Bunz Trading Zone Launches Its Own Cryptocurrency

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Bunz Trading Zone is a Canadian online trading and barter platform. According to the local paper “The Globe and Mail,” the platform is launching its own cryptocurrency under the name of BTZ. BTZ is pronounced as “bitz” and as it’s reported, BTZ is going to be the first Canadian cryptocurrency to launch to ‘an already-established community’ and will become available to 200,000 users of the company from 9th April.

latest cryptocurrency news

Bunz Trading Zone

The Bunz community grew rapidly after its launch. Bunz was basically launched as a private Facebook group in 2013 by Emily Bitze (fashion designer) for exchanging unused things with friends and after the launch, it expanded outside Facebook and Toronto. The Bunz website, plus app, were launched two years ago.

According to the Globe and Mail reports, the platform expanded rapidly due to its minimalism and the absence of cash. Though, the currency’s absence based on barter platform, has offered one of the biggest challenges to Bunz as well. Without an exchange of currency, there won’t be an evident income stream.

Bunz Users Will Receive 1,000 BTZ

After this latest cryptocurrency news, the project’s blog showed details that all Bunz users will be receiving 1,000 BTZ respectively, which can be traded for goods and facilities and can be exchanged amid the members of the community. Basically, the 1,000 BTZ will have the value of about ‘three coffees’. Sascha Mojtahedi, who is the CEO Bunz Trading Zone says, that the company has planned a revenue model, however, he refused to say anything about what it is or when it is going to be introduced.

Mojtahedi said that the main purpose of the BTZ launch is to grab the attention of more users to the platform, as he stated:

“You have to be able to reward people with cryptocurrency that they’ve earned as a result of their passive involvement in the network and then enable them to use it with their peers and merchants. It gives us the room to create new models that people may not have thought of.”

Also, at the beginning of this year, known as an e-commerce giant of Japan, Rakuten announced its plans to issue its own cryptocurrency. Hiroshi Mikitani (CEO) said that it’s going to be a borderless currency.

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What Are Some Different Ways to Trade Bitcoin?

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Different Ways to Trade Bitcoin

Bitcoin is a computerized currency which is produced through mining. Mining is a procedure that includes understanding and solving complex algorithms using a PC. Once that complicated algorithm is decoded, then a single block can deliver around 50 bitcoins.

The time it takes to decode a single block greatly relies on the services of the miner as well as the processing power of CPU. Since the procedure of mining is long and frantic, many people want to purchase Bitcoin on the web.

Trading Bitcoin is most likely the quickest and simplest approach to make money through Bitcoin. The estimated value of the currency varies so much on the daily basis that it has become a primary investment option for traders. The currency is super exciting due to the fact that nobody knows how high or low Bitcoin can go.

Safe Approaches to Trade Bitcoin:

Here we are going to demonstrate the safest approaches to trade bitcoins. Read carefully best Bitcoin trading platform.

There are many ways to make money through Bitcoin trading. Much the same as stock markets, Bitcoin trading includes purchasing coins at low cost and selling them when the cost has gone up. To begin trading, you have to set up an online account with a consistent trading site and then store your assets into that account. When your account has been effectively verified, you will then need to closely observe the trading market for a chance to make a profit through purchasing and selling bitcoins.

Depending on the amount, the Bitcoin exchanges will charge you a specific rate for each transaction. You will also have the option to convert your local money into Bitcoin and vice versa. In any case, you should remember that Bitcoin is highly unstable. If you are not well-informed with the price trends, you may end up losing a considerable amount of cash.

A usual Bitcoin trading procedure includes four easy steps. The steps are:

  • Making an exchange account and filling it up with currency. The currency will be later used to make your first Bitcoin purchase.
  • Creating multiple accounts with the different exchange as it will help you eliminate the risk of theft in the event your primary account crashes.
  • Choosing an exchanging methodology: There are a few different methods to exchange bitcoins such as informal investment, swipe trading or becoming an investor that sits tight and hold on until the market stabilizes. Make sure you go with the option that suits you best.
  • Once you have done it all, wait until the market offers the right opportunity to make money.

These are some ways that can help you keep your bitcoins from theft and make secure trades. Good luck with your venture.

Tags: Bitcoin trading sites

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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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Bitcoin and Games – Is Bitcoin making things More Difficult for Gamers?

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As digital currencies are creating momentum between a higher user base and getting fame within the non-virtual world, there are also some unexpected effects. For a supporter of Bitcoin, the largest cryptocurrency by market cap, more users of Bitcoin mean a more competitive and a greater market, as well as other examples of brick and mortar stores, are also taking on Bitcoin.

This shows that Bitcoin users can spend their coins without converting it into fiat currency and more easily as time goes on. Furthermore, a higher demand for Bitcoin creates a greater number of potential and Bitcoin miners are hoping to capitalize on the increased interest.

On the other side, some people are feeling negative pressure due to these developments, and one these groups are computer gamers.

Competition in Gaming and Mining Operations:

There is a question, why would Bitcoin fame make thing difficult for gamers? It comes down to basics as hardware costs for gamers are going high as demand for powerful rigs and in some particular graphics cards has driven prices up. It shows that gamers and Bitcoin miners both require some expensive hardware in order to run their operations most effectively.

Some professional and amateur miners have set up a huge number of rigs around the world, everyone working on complicated mathematical problems in order to get Bitcoin as a reward. The mining rigs use particular graphics cards as AMD RX 400/500 series, the increasing interest in mining has flooded the market with demand requests to purchase those cards. Many sellers in the market are out of stock completely, and the cards which are available have high prices.

Why Do Gamers Feel the Pressure?

On the other hand, the gamers use similar graphics cards for a different purpose. Many of the gamers felt the pressure of higher prices on the graphics cards and other different hardware items which they need in gaming.

However, one of the largest manufacturers of graphics cards “ASUS”, recently declared plans to introduce a new series of products with digital currency mining in mind. This may guide to the new generation of graphics cards with different focus dependent on whether the user is going to mine or to game.

As interest in mining is growing day by day, it is questionable that the pressure will abate. But in such situation, maybe gamers will get that their graphics cards are not much expensive any longer.

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How to Store Bitcoin with a Paper Wallet

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One of the concerns every Bitcoin user has is how to keep their bitcoins safe from criminals. Well, the answer to that is to store them in a paper wallet, completely away from the internet in an offline environment.

If you do it right, you’ve just initiated one of the safest ways to store your bitcoin. Although, if you mess up in between, it’s still more secure than storing coins in any Bitcoin exchange platform.

Creating a Simple PapeWallet

Start off with a desktop that is clear from all virus.

If you’re having doubts about this, install a copy of the OS on a USB. This is just for safety purposes, you don’t have to do this step. Although, make sure your computer is completely free from all sorts of malicious and nasty viruses. We don’t want your operating system wiping out on you.

Use incognito mode on your browser, and go on to a bitcoin paper wallet creation site

The most well-known paper wallet creation site is said to be bitadress.org, so use your incognito mode to log on to the site.

Turn off your internet connection once bitaddress.org loads

After the site has loaded, turn off your Wi-Fi or unplug your ethernet cable. This will completely remove any leads for your private keys to leak through the internet without your knowledge.

Don’t worry, bitaddress.org was programmed to function perfectly fine even without an internet connection.

Follow the instructions given to the side and move your cursor randomly across the screen

This is the fun part. You’re required to randomly move your cursor around the screen to generate a seed that will be used by BitAddress to generate your personal wallet.

You have now created two QR codes with a combination of random letters and numbers

Congratulations! You’ve officially created your first paper wallet.

The two QR codes are:

  • Bitcoin Address- It will be a long string of letters and numbers jumbled together. This is what you’re going to be sharing with others in order to send and receive Bitcoins.
  • Private Key- This too is a lengthy combination of alphanumeric, but you’re supposed to keep this secret. You CANNOT share your private key with anyone nor can you store it on a computer and, definitely not on the web.

Remember this. If you lose your key, your bitcoins are lost forever and if someone else gets a hold of your private key, they can easily empty your wallet.

Keep your paper wallet safe

The next step is having an offline copy of your Bitcoin Address. While you’re still disconnected from the internet, print the address (make sure your printer is not connected through wi-fi either). Now you have created a hard copy of your Bitcoin address, which you can later add Bitcoin to for a final cold storage solution.

Always keep a backup of your wallet in another location and make sure it is completely secure. If someone gets their hands on it, you’ve lost everything.

Adding funds to your cold storage wallet

You need to use your online wallet for this. Scan the bitcoin address on the paper wallet or just copy it, then send your fund to your cold storage.

 

TIPS

  • Make sure to store your wallet someplace away from moisture, because you don’t want it getting damaged. Try storing it in a Ziploc bag or laminate it, in order to avoid it from coming in contact with any liquid.
  • Use an Operating System that never goes online, to prevent your PC from leaking out your private keys. Print your wallet offline and never go online from that computer in the future.
  • You can store large sums of bitcoins in your cold storage rather than carrying it with you in an online wallet. Keep small amounts of bitcoin in your online wallet for daily transactions and the rest offline, in a secure spot.

 

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