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BitPay is an exchange platform, that allows its online traders to accept bitcoins. They just announced on their company blog that it now supports SegWit2x. BitPay is assuming that the block size will increase now that SegWit2x has been activated. This is what the founder Stephen Pair had to say:

“We need one Blockchain to serve as a backbone. That Blockchain must be secure and its asset must be liquid. The backbone network must also be highly available. This high-availability requirement means that we must remain in sync with the hash-rate majority chain. Block production on a minority fork of Bitcoin would be inconsistent, and it may cease to operate without emergency measures. Such a service interruption is unacceptable for us and for our users.”

It has been acknowledged that the Bitcoin Core does not support SegWit2x.

However, Breadwallet has also followed BitPay by showing support to the majority chain and accepting SegWit2x.

News Credits: cointelegraph.com

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Atlanta Hack! Hackers Demand Bitcoin by Shutting Down Government Computers

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On 22nd March, a cyber-attack was discovered in the US city of Atlanta. In the attack, hackers shut down the main computer systems and demanded $51,000 in Bitcoin for re-enabling the affected systems. It was noted that this disruption was affecting systems through which some consumers used to pay bills and access information related to court. Computer hacking isn’t something new to hackers as cryptocurrency related hack has been attempted by them many times before.

According to some reports, the officials of the city are working with the US Department of Homeland Security FBI, and Microsoft to discover the extent of this violation and to find ways to resolve it. City officials invigorated citizens on 23rd March, in order to check their personal accounts and information, if any of them think that their personal information could be conceded in the hack.

Public Announcement of The Attack

The attack was announced by the mayor of Atlanta, Keisha Lance Bottoms, in a press conference on 22nd March. The members of the press were told by her that the officials still don’t have any idea about the extent of the attack or if bank accounts or personal data of anyone will be compromised as she stated:

“All of us are subject to this attack.”

Is there anything done to resolve the situation?

However, the situation still needs to be resolved. The price of Bitcoin is trading at $8,469 at this very moment, which shows that the demanded ransom is going to cost the city around 6 bitcoins as this is not the very first attempt of hackers to hold municipal computer systems as a hostage in exchange for the cryptocurrencies.

Former Attacks Linked to Bitcoin

Back in November 2017, Sacramento Regional Transit system was attacked by a hacker for a ransom of 1 bitcoin demand, and bitcoin had the worth of $8,000 at that time. Another malicious example of ransom for Bitcoin is from December 2017, when a parcel bomber in Germany demanded a €10 million ransom to be paid in the form of Bitcoin as he sent this in a message to a Potsdam Christmas market. However, the package failed to explode and had a QR-code for depositing bitcoins, as well as explosive material that was derived from nails and fireworks.

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What Is An Altcoin – A Brief Look Into The Concept Of Altcoin

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Most people these days are completely aware of Bitcoin – a digital currency which has taken the digital market by storm over the last couple of years. However, a large portion of these people is not aware of the fact that there exists a large number of other cryptocurrencies as well. Ether, Ripple, Zcash, and Montero are few to name. The general terminology for these cryptos is ‘Altcoins’.

Each Altcoin is different in characteristics. Few of them differ in the economic model while others have different distribution methods. It depends on an Altcoin’s design whether it has to rely on proof-of-work mining algorithms or not. Moreover, a number of Altcoins offer an extra adaptable programing language, while others follow the same privacy terms as Bitcoin.

All Altcoins are not much interesting though. Some don’t even provide handsome offers to their users. For example, Altcoin is the combination of the total amount of coins, which clearly means that each coin has low worth. In this post, we will have a brief discussion about different aspects of Altcoin.

What is Altcoin Mining?

A process of mining new Altcoins. There are two types of Altcoin mining: single mining and pool mining. Single mining may not give you expected rewards and is way slower than pool mining. On the other hand, pool mining has a large number of participants sharing their mining equipment’s hash power which ultimately makes the process quick and simple. Besides, the rewards in pool mining are much higher than those of single mining. Following are few steps that will help you start mining Altcoin.

How To Start Altcoin Mining?

To start Altcon mining, you will need:

Acquiring an Address:

Before starting mining, you need to register with the well-reputed platform and have a digital address. You give this address to pool inform them where to pay your rewards. The mining pool provider will sync the blockchain for you.

Funding:

Start funding to your account and create your public key.

Connecting to the pool:

Once you have an address, you will need to install a mining software and connect to the mining pool. After joining the pool, you can start mining.

Once you have an address, you will need to install a mining software and connect to the mining pool. After joining the pool, you can start mining.

What is Staking Pool?

It is a proof of stake mining pool. BTC and other altcoins are used to purchase Altcoin. Later, these altcoins are held in their individual wallets. In addition, each wallet will contain the staked altcoins. The number of the altcoins holding in your wallets completely depends on the price and percentage of the Altcoin.

What Is The Process Of Staking Pool?

Deposit your POS coins into an electronic wallet, so that it can easily connect with the other altcoins available on the internet. Basically, this is the result of connected wallets. Transactions get verified and confirmed which enables the receipt of the reward.

What Are Best Altcoins?

Based on the market cap, following is the rundown of top altcoins:

  1. Ethereum: $19,567,960,363
  2. Ripple: $6,485,335,767
  3. Dash: $1,294,582,036
  4. Nem: $1,174,185,000
  5. Ethereum classic: $1,409,231,346
  6. Litecoin: $2,167,228,375
  7. Monero: $539,679,521
  8. Zcash: $335,018,425

What Are Best Altcoin Trading Platforms?

Few exchanges help you to deal with your altcoins on daily biases. The list of top altcoin exchanges includes:

  • Local Bitcoins
  • net
  • Kraken
  • Bitfinex
  • Bittrex
  • Poloniex
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Buying bitcoins with bank transfer

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Bitcoin users that are looking to purchase large sums of bitcoin would probably opt for buying bitcoins with their bank account. Fortunately, it is also a less risky option and the fees for this process is much lower. Bank transfers are considered irreversible and unlike credit card payments, they reduce the risk of chargeback. Also, bank transfer offers much higher bitcoin buying limits than a credit card or debit card.

Depending on where you live in the world there are different exchanges that will be best suited for you. In this post, we will cover the main reputable exchanges that supply bank wire services.

Coinbase

Coinbase is the world’s largest bitcoin vault. In the US, you can buy bitcoin with a connected bank account via ACH bank transfer and, in Europe you can, via SEPA transfer. Purchases with ACH takes around 5 days whereas, with SEPA it’s just two working days. A 1.49% fee is charged on all Coinbase transactions. For instant payments, Americans may add a Visa or MasterCard as a backup to carry out instant payments.

PROS

  • High liquidity and buying limits
  • User-friendly for newcomers wanting to buy bitcoin
  • “Instant Buy” option available with credit card or debit card

CONS

  • Purchases can take up to 5 days
  • Coinbase can track how and where you spend your bitcoins
User-friendlyEasy
PrivacyLow
SpeedAverage
Transaction FeesAverage
ReputationTrusted
Buying LimitsHigh

 

BitPanda

BitPanda accepts bank transfer payments from Online Bank Transfer, SEPA, and SOFORT.

PROS

  • Very low fees for buying bitcoins with credit/debit card
  • Reliable & a trusted locker

CONS

  • Fees aren’t shown openly on the site but instead included in the buying site
User-friendlyEasy
PrivacyLow
SpeedFast
Transaction FeesLow
ReputationTrusted
Buying LimitsHigh

GDAX

US customers can fund their Coinbase Exchange trading accounts via ACH or bank wire. Europe and the UK Residents can desposit their accounts with SEPA transfer.

PROS

  • Very low fees for EU and US customers
  • Possible to buy bitcoins without any fees

CONS

  • User interface might seem confusing for first-time buyers
  • Sending bitcoins directly from GDAX to any legally-questionable site may result in closure of your account
User-friendlyHard
PrivacyLow
SpeedAverage
Transaction FeesLow
ReputationTrusted
Buying LimitsHigh

 

CEX.io

CEX.io allows for purchases of bitcoins using ACH in the US or SEPA transfer for European countries.

PROS

  • Supported by many countries and regions
  • Very low transaction fees
  • Established and trusted exchange

CONS

  • Verification process is extensive, requiring much personal information (including a photo) and incurring a long delay
  • GBP market lacks liquidity
User-friendlyAverage
PrivacyLow
SpeedAverage
Transaction FeesAverage
ReputationTrusted
Buying LimitsAverage

 

Gemini

US customers can purchase bitcoins on Gemini by funding their account with ACH transfer.

PROS

  • Trustworthy and regulated exchange
  • Instant deposit lets you buy coins quickly (but not withdraw them)
  • Some of the lowest fees in the US and Canada

CONS

  • Might confusing to use for new buyers
  • Not available in all of the US states
User-friendlyHard
PrivacyLow
SpeedSlow
Transaction FeesLow
ReputationTrusted
Buying LimitsHigh

Bittylicious

UK residents can purchase bitcoins in a matter of 15 minutes via online bank transfer.

PROS

  • One of the fastest ways to buy bitcoins in the UK
  • Refund guaranteed in the event of delayed payment

CONS

  • SEPA transfer not available as payment method
  • RBS/NatWest PYC payment method unavailable
User-friendlyEasy
PrivacyLow
SpeedFast
Transaction FeesLow
ReputationTrusted
Buying LimitsHigh

 

Coinfloor

UK residents can fund their Coinfloor exchange account with SEPA or online bank transfer, while EU residents can use SEPA. Note that there is a minimum deposit amount of 1,000 currency units (i.e. 1,000 euros or 1,000 pounds).

PROS

  • Trustworthy and regulated exchange
  • Offers a sophisticated bitcoin storage service, Coinfloor vaults

CONS

  • Coinfloor has a high minimum deposit amount, must deposit at least 1000 units of currency.
  • Coinfloor market only accepts GBP bank transfers
User-friendlyHard
PrivacyLow
SpeedAverage
Transaction FeesHigh
ReputationTrusted
Buying LimitsAverage

 

Confinity

Residents of Austria can purchase bitcoins online using SOFORT transfer.

PROS

  • Trusted and established exchange

CONS

  • ID verification is asked, so privacy is low
  • Limited payment methods available
User-friendlyAverage
PrivacyLow
SpeedFast
Transaction FeesLow
ReputationTrusted
Buying LimitsHigh

 

Paymium

A bitcoin exchange based in France. It’s very user-friendly so anyone can get bitcoins with Paymium.

PROS

  • Mobile app available
  • Established and trustworthy exchange

CONS

  • ID verification required for any amount above €2,500
User-friendlyEasy
PrivacyLow
SpeedFast
Transaction FeesLow
ReputationTrusted
Buying LimitsHigh

 

Bity

It’s a Bitcoin broker that lets all Europeans purchase bitcoins with SEPA transfer. It only requires verification using a mobile phone in the start.

PROS

  • Easy to buy bitcoins after mobile number verification
  • Payment limit is very high. Up to €100,000, after intensive verification

CONS

  • Not a private way to buy since ID verification is required.
  • Low annual limit of only €4,000, with no verification required.
User-friendlyAverage
PrivacyLow
SpeedFast
Transaction FeesLow
ReputationTrusted
Buying LimitsHigh

Safello

PROS

  • Available in 32 countries
  • Offers a wide variety of payment methods
  • Deep liquidity ensures prices near the fair market rate
  • Customer service available on weekdays from 8 AM to 10 PM

CONS

  • Not a private way to buy since ID verification is required
  • Only Swish payments will confirm over weekends
  • Fees isn’t mentioned but included in your buying price
User-friendlyAverage
PrivacyLow
SpeedFast
Transaction FeesLow
ReputationTrusted
Buying LimitsHigh

 

Bitstamp

It is one of the largest bitcoin exchanges. Europeans are able to easily purchase bitcoins using SEPA bank transfer. Bitstamp allows anyone in the world to use their bank account and send a wire transfer. However, there will be some fees charged.

PROS

  • One of the longest-running Bitcoin exchanges
  • Very low fees, ranging from 0.1% to 0.25%
  • Good range of deposit and withdrawal options
  • Deep liquidity promotes a price close to fair market rate
  • Offers a wide range of altcoins

CONS

  • Has been hacked before, users should not avoid storing their funds on the exchange at all times
  • High 8% fee on small credit card purchases, falling to 5% with sufficient trading volume
  • Aimed towards traders; slightly confusing for first-time buyers
User-friendlyHard
PrivacyLow
SpeedSlow
Transaction FeesAverage
ReputationTrusted
Buying LimitsHigh

 

Kraken

Kraken is known the world’s largest euro-denominated Bitcoin exchange based on daily average trading rates. It supports bank transfer deposits from the US, European, Canadian, British, and Japanese customers. Deposits can even be made via international bank transfer, SEPA transfer, and Interac.

PROS

  • Well-financed and reliable exchange
  • Very low taker fee
  • Very low maker fee
  • Deep liquidity for large volume buyers in European markets ensures a price close to fair market fare
  • Highly secured
  • Publishes proof of reserve audits

CONS

  • Difficult for first-time buyers
  • Requires ID verification so, not private
User-friendlyHard
PrivacyLow
SpeedAverage
Transaction FeesLow
ReputationTrusted
Buying LimitsHigh

 

CoinCorner

It’s a bitcoin exchange based in the Isle of Man. Buyers from UK and Europe can purchase bitcoins with credit/debit card, SEPA, and GBP bank transfer.

PROS

  • Trusted company
  • Variety of options for payment
  • Customer service is very helpful
  • Instant credit card purchases
  • Available in a wide range of countries
  • Offers video tutorials covering the basics of Bitcoin, buying and selling, MultiSig escrow features

CONS

  • There is a 5% fee on purchasing with credit card
  • Requires ID verification, so not private
  • Slightly confusing for first-time buyers
  • Doesn’t provide exchange prices to compare without signing up
User-friendlyEasy
PrivacyLow
SpeedAverage
Transaction FeesAverage
ReputationTrusted
Buying LimitsAverage

 

Cubits

Cubits accepts SWIFT transfers, as well as other local bank transfer methods like SOFORT and Online Bank Transfer.

PROS

  • Fair 0.9% trading fee
  • Wide range of payment methods offered
  • Supports 20 fiat currencies
  • Super clean design makes the buying process easy

CONS

  • Offers a wallet that should not be used to store bitcoins
  • Requires ID verification, so not private
User-friendlyEasy
PrivacyLow
SpeedFast
Transaction FeesLow
ReputationTrusted
Buying LimitsLow

 

Bitfinex

Customers can deposit large amounts into their accounts using SWIFT.

PROS

  • Low fees for buyers, market makers and takers
  • One of best ways to buy large sums of bitcoin
  • Allows lending of fiat or bitcoin to margin traders at interest
  • Deep liquidity promotes price close to the fair market rate
  • Supports various altcoins as well

CONS

  • Was hacked recently and has yet to compensate most users for their loss
  • Quite confusing for first-time buyers
  • Single payment option
User-friendlyHard
PrivacyLow
SpeedVaries
Transaction FeesAverage
ReputationLow trust
Buying LimitsHigh

 

Xapo

Xapo is known to accept account deposits via international wire transfer.

PROS

  • Originally started off as a vaulting service. Claimed security investment above $20 million
  • User-friendly for first-time buyers
  • Deep liquidity which promotes a price close to fair market rate

CONS

  • ID verification required
  • Trading fees not stated on website
User-friendlyEasy
PrivacyLow
SpeedVaries
Transaction FeesAverage
ReputationTrusted
Buying LimitsHigh

HappyCoins

HappyCoins offers bank-related instant payment methods such as iDEAL, GiroPay, myBank, Sofort, and SEPA.

PROS

  • Long term and trusted exchange
  • Wide range of payment methods available
  • Occasional “Happy Hour” with 0% fee on purchases
  • Privacy maintained, only email and bank account number required

CONS

  • Fees are only included during checkout.
User-friendlyEasy
PrivacyLow
SpeedAverage
Transaction FeesAverage
ReputationTrusted
Buying LimitsAverage

 

To conclude, if you’re planning on buying large amounts of bitcoins and do not have any credit card on hand, the above-mentioned options are good enough. However, keep in mind that some of these banks might require additional information to confirm a transaction.

If you’re looking to sell your bitcoins, check out our how to sell Bitcoin article.

Good Luck!

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Buy Bitcoin Online- How To Make a Perfect Purchase

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If you have learned about basics of the bitcoin, the next is to buy bitcoin. But the question is how? How can I buy the bitcoin?

I am here to tell you about how you can buy the bitcoins. You can buy bitcoin from exchanges or directly from people via marketplaces. whereas, we will discuss online buying of bitcoin. So, let’s start.

Buy bitcoin with a credit card

Here, we will have the example of 247 exchange. To buy online bitcoin, you have to focus on the procedure. Whereas, exchange policies may vary from site to site. So, let’s start with the first step.

  1. This is a common thing that when you are going to sell or buy something. You need some verifications. Same with buying bitcoin. First, you have to create an order by filling a form name buy cryptocurrency. You need to pay attention to all the section of the form. And, try to avoid to enter the bogus material. Otherwise, your order will be canceled by the site automatically. After completion of the form, you will become a registered user automatically by clicking “make the order”.

  1. After clicking “make the order”, you have to pass some verification test. This test will not use up a lot of your time. Whereas, a test will be held by AML-program depending on your verification and amount ordered. Here, you need to confirm your identity, address, and phone number. In extraordinary cases, you have to submit additional documents. Accordingly, you need to submit your address, your card if issuing bank don’t have a 3D technology. After few minutes of your identification, you will be able to enjoy our services.

 

  1. After getting the approval from a site, you will receive an e-mail. Log into your personal account, check the details of on order page. While you check your order details, verify each detail. Because you enter the wrong account number you’ll lose your money.

 

In addition, if you are not satisfied your amount in order and want to change it. You have to put another order with your desired amount. And just leave a message on your order page. Another thing is, you have to pay from your own credit card.

 

  1. The last and final step is, read the rules and policies of the site and click the “I agree”.

Within few minutes, an amount will be deducted from your account and you will receive your desired bitcoin.

 

Buying large amounts of bitcoin

To buy the large amount of bitcoin you have to follow these simple steps.

  1. Find a bitcoin exchange, a majority use Spectro coin or Kraken.
  2. Make payments in U.S dollars or Euro to buy bitcoin. After register, yourself to the exchange.
  3. When you get bitcoin, transfer it to your wallet.
  4. Finally, get bitcoin debit card for easy spending.

That’s all. You buy your bitcoin easily.

What makes for the best bitcoin  

When you are finding the best bitcoin, you need to consider some factors. Which may vary from person to person. In addition, these factors directly create an impact on buying and selling of the bitcoin.  Some of the factors are given below;

Exchange rate

While comparing bitcoin exchange’s price with bitcoin price index you’ll get best exchange rate.

Payment method

You need an exchange who accept your bitcoin payment method. Whereas, different exchanges offer their services at different rates. For example, exchanges often charge a fee of 3-10%.

Speed

You want to buy bitcoin. Unfortunately, it is not a simple and easy challenge. And especially, when you are going to buy bitcoin in large amount. you need to research all the exchanges and figure out the verification level and delivery speed. Otherwise, you’ll get coin after a week, which you need right now.  

Amount

Coinbase can sell $1000 bitcoin on daily basis to its regular users. Whereas, for fully verified users can buy up to $50,000 daily. limits. Which is vary from exchange to exchange. In addition, each exchange offers FAQ to guide about the verification levels.

Privacy  

Buying bitcoin in replacement of the cash is the most convenient and safe way to buy bitcoin. Doesn’t matter this buying will be through the p2p exchange like local bitcoins or at bitcoin ATM. But exchanges also accept the credit or bank transfer.

Above all discussion is about how to buy Bitcoin online. So, be aware of scams, and buy bitcoin freely and safely.   

 Good luck!

 

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Creator of the bitcoin

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An Australian man claim to be the Bitcoin creator, Satoshi Nakamoto.

Really, he is the creator of the Bitcoin revolution?

Let’s have a complete discussion about it. Because the Bitcoin creator’s mystery is still a mystery. When someone breaks the ice, and claim that he is the creator of this technology, it needs discussion. A discussion with complete and real proof. So, step in, in the mysterious discussion.

Here, I have some question in my mind before a discussion.

  1. how claim to be the creator?
  2. his history, origin, business terms even living standard.
  3. the existence of the legal proves
  4. reason behind the creation
  5. idea to invent a worldwide digital currency and stay anonymous

And much more. At this point, everyone has these or many more question in his/her mind. That is why we will discuss the history and personality first.

How claim?

Craig Steven Wright an Australian businessman computer scientist claim that he is the creator of bitcoin. While a claim is the end of the mysterious discussion in the world.

BBC announced on Monday that Craig Wright told the media outlet he is the real man behind Satoshi Nakamoto. A businessman and computer scientist said that he launched the digital currency in 2009 with other’s help. The Same claim in Economist magazine.

Founder’s identity has been masked in uncertainty. Whereas, the media’s involvement to point out someone who has led the investigation.

Craig Wright says to the BBC,” I didn’t take the decision lightly to make my identity public and I want to be clear that I’m doing this because I care so passionately about my work and also to dispel any negative myths and fears”.

Craig Steven Wright      

Craig Steven Wright, born on October 1970. He is an Australian computer scientist. In addition, he is graduated from high school in 1987. And was the word’s first person who receive GIAC certification in compliance and audits.

Career and business

World’s first online casino was designed by Craig Wright and worked in different companies as well. Due to some security issues, Craig spends 28 days in jail.

Whereas, Craig was the CEO of a firm Hotwire Preemptive Intelligence Group. Which plan to launch world’s first bitcoin-based bank. He is also the founder of the company DeMorgan Ltd. Which receive $54 million AUD in tax incentives. And, he is also the founder of cyber security and computer forensics company.

When rumors come to light

In 2015, random investigations held by Wired and Gizmodo. Both of them assumed that Craig Wright may have been the inventor of the Bitcoin technology. And, the transaction process gets started from here. As the chief scientist of bitcoin foundation, Gavin Andresen opinion counts. He is the one who has communicator with Satoshi Nakamoto more than others.

Today, Andresen believe that Craig Wright is Satoshi Nakamoto. Now, he is trying to convince rest of the world. Here, the reason is, he is the one from the lucky people to have seen which claim is in Craig’s favor.

Andresen belief is solid about Craig Wright’s identity regarding bitcoin. Here, is a private meeting detail of Andresen with Craig Wright in London.

Andresen says, “I’m still convinced that he’s Satoshi despite the really weird proof he’s put in his blog post,” says Andresen. He stands by a statement he published on his website this morning: “I believe Craig Steven Wright is the person who invented Bitcoin.”

A private meeting with private proof    

Andresen says that he was invited by a firm to in-person demonstration designed to prove Craig Wright is the creator. This firm directly represents Craig Wright. Andresen feels hesitation while he was explaining the facts. In December, on transcripts, leaked emails, and accounting documents. But, some gaps found in Craig’s story, including backdated sign evidence, academic credentials. which clearly seems Craig was likely pulling an elaborate hoax or con.

Craig Wright follows up with the series of emails. On April 7, Andresen met with Craig in a conference room with two associates.  Where Craig clear the remaining doubts of Andresen. The Bitcoin creator can have proved himself in two ways, suggested by the cryptographers. First, Nakamoto has to move some earliest bitcoin and been spend in last few years existence. Second, he has to use the same private keys that allow the owner to spend them to instead sign a message. Transfer the data in a way which proves that owner of Nakamoto just has that key.

Conclusion

There is a large number of investigative points which prove the ownership of the bitcoin technology.

Good luck!

 

Tags: bitcoin founder

 

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