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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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What Are Some Sharp Strategies to Assemble Gold Bullion Using Bitcoin

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Bitcoin Mining

Bitcoin first came into circulation in 2009 – almost 8 years ago. During that short period, the Bitcoin has grown into an extremely strong currency. Currently, it is trading at values higher than gold in the market.

Those who have experience of the market would know that it’s a great time to accumulate digital currency and gold bullion on daily basis.

However, people who lack the experience of the market are going to find it extremely difficult. If you are new to the currency and looking for a way to garner gold bullion, here are some methods that you can use.

Start with Finding a Company That Sells Bullion:

finding a company that sells gold bullion is no big deal. Just do a simple Google search and several gold-bullion-selling companies will pop-up in search results. However, finding one that offers an incentive program to its clients can be a tough nut to crack.

While on the hunt, you should be searching for a company that offers much more than just selling gold. It should be renowned for selling quality products, selling billions in small grammage (1gm, 2.5gm, etc.).

Gold that is being sold must be 24 karat gold; which is the highest quality for gold products.

The advantage of an incentive program is that the company offers special commissions to the clients who refer people to the company.

Get A Bitcoin Wallet:

A Bitcoin wallet address is equivalent to having a bank account for cash. The difference is that it is only used to store bitcoins and make bitcoin transactions with other users.

There are several Bitcoin wallets available to users. Copay, Xapo, Green Address are few to name.

While choosing a wallet, look for a company that offers an offline vault to protect those coins. This is because storing Bitcoin is never safe and the wallet is always vulnerable to hackers trying to steal your digital currency. On the other hand, offline storage keeps your coins fully protected.

Don’t forget to read our guide on what are the safest Bitcoin wallets, and also how to secure a Bitcoin wallet.

Start Mining:

There are two ways of bitcoin mining – online mining and offline mining. Online mining is pretty simple as all you have to do is to join a bitcoin mining farm. However, there’s a danger that comes with theses farms: scammers.

The scammers falsely claim to have a mining form and invite users to join it. The sole purpose of scammers is to steal your coins. So be cautious while choosing an online form.

In offline mining, the user is required to buy a bitcoin miner which is a computer hardware. The computer is set up at home and the user is required to connect to the internet to start mining.

The coins mined through this technique are then automatically sent to his online bitcoin wallet.

Want to start mining? Learn how to set up a Bitcoin miner.

Lastly – Purchase the Gold Bullion:

Now that you have a permanent & easiest way to get bitcoins, you are ready to buy gold bullion. However, there is a specific way that needs to be followed to make the purchase.

The buyer needs to link his Bitcoin wallet to visa card which is offered by his bitcoin wallet company. The card is then used to purchase the bullion.

Good luck with your purchase.

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Bitcoin Price Analysis 2017 – The Drop in Bitcoin Value is Not Real

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Marc Kenigsberg, The CEO of JamWorx states that the Recent drop in the Bitcoin price is a slight retreat from the highs of 2017. In Kenigsberg’s views, there are two main factors which are causing to reduce the value at the moment: Some of the speculative money invested in the last few months by some external investors have reserved off the tables as profits.
The market is still behaving to Bitmain’s threat strategies and the threat of a possible hard fork as a reprisal for UASF.
Bitcoin is ultimately almost 150% YTD and I’m not worried at all. Obviously, the basics are strong and the demand for Bitcoin is increasing.

Image Credits: coinjournal.net

What Is the Best Time to Buy More Bitcoin?

Marc also describes that the merchant adoption for Bitcoin is at all-time high and the ecosystem is analyzing record amount of everyday transactions.

Furthermore, an extensive interest is in Bitcoin as a way of payment and there is a fundamental understanding of what it can do.

Marc also explained that if more merchants will accept Bitcoin, then more people will use it and more people will want to get it than ever before. The increased price of Bitcoin is a correction of the aspects that underestimated the price of Bitcoin.

He also advised the community that not to sell Bitcoin and hold them since the price of Bitcoin will surely go high soon.

He further recommended as now is the best time to buy more for everyone that can. From his thinking, a price tag of $2500 may seem an expensive to people today, but it is going to look cheap in a year from now.

Did Speculation Push the Price of Bitcoin?

Marc disagreed that the last price rally of Bitcoin was just because of the speculation. Moreover, he explained that there is a speculation in almost every currency of market but it was not the key factor to increase the price. He also described that the increased price has been the main catalyst for the speculation.

He believes that the world is going to accept and understand Bitcoin as an effective payment method and this is the point which is driving the price up.

Story Credits: Cointelegraph.com

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What Is the Difference Between Bitcoin and Litecoin?

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Bitcoin was launched in 2009 by a programmer called Satoshi Nakamoto. Bitcoin is world’s first cryptocurrency.  The code of Bitcoin is open source, which means it can be modified by anyone and freely used for other projects.

Since the launch of Bitcoin, numerous cryptocurrencies have been released with slight modifications in Bitcoin’s code, however, none has been able to dethrone Bitcoin from the top spot. One that comes the closest is Litecoin.

Litecoin was launched in 2011 with the objective of being the “silver” to Bitcoin’s ‘gold’. At the time of writing, Litecoin has the most noteworthy market value amongst other cryptocurrencies, only lagging behind the Bitcoin.

In this article, we put light on the essential differences between Bitcoin and Litecoin.

Major Differences Between Bitcoin and Litecoin:

  • The coin limit of bitcoin is 21 million while the Litecoin’s limit is 84 million.
  • The block reward of Bitcoin is halved every 210,000 blocks. On the other hand, Litecoin reward is halved every 840,000 blocks.
  • Initial reward: 50 BTC in Bitcoin, 50 LTC in Litecoin.
  • Mean block time: 10 minutes in Bitcoin, 2.5 minutes in Litecoin.
  • Difficulty target: 2016 blocks in Bitcoin, 2016 blocks in Litecoin.
  • Algorithm used: SHA-256 in Bitcoin, “Scrypt” in Litecoin.
  • Block explorer: “blockchain.info” for Bitcoin while “block-explorer.com” for Litecoin.
  • Creator: Satoshi Nakatomo (Bitcoin), and Charles Lee of Litecoin.
  • Bitcoin was created on January, 3rd, 2009 while the creation date of Litecoin is October 7th, 2011.
  • Market cap: $10,467,596,650.78 (Bitcoin) and $540,274,528.26 for Litecoin.

Mining Differences Between The Two Currencies:

Just like Bitcoin, Litecoin is also a cryptocurrency generated through a process called mining. However, mining for both the currencies is done in a different way. The major mining differences between Bitcoin and Litecoin are as follows:

  • A Litecoin block takes 2.5 minutes to generate while the same block in Bitcoin takes up to 10 minutes.
  • The algorithm used in Bitcoin is SHA-256, which helps accelerate calculations in parallel processing. Due to this characteristic, the race in ASIC technology has become extremely intense, which also results in the increased bitcoin difficulty levels. On the other hand, Litecoin uses the “Scrypt” algorithm. The calculations in this algorithm are much more serialized as compared to the calculations in SHA-256.
  • At the time of writing, the total hashing rate of Litecoin is just 95,642Terra Hashes per second, while the Bitcoin hashing is around 20,000 Mega Hashes per second.

Differences in Transaction:

The major difference between Bitcoin and Litecoin is the transaction time.

  • Bitcoin transaction confirmations are relatively slow, while Litecoin has the ability to handle a higher volume of transactions, thanks to its higher volume of blocks.
  • A downside of having a higher volume of blocks is that it increases the size of Litecoin’s Blockchain, which results in more orphaned blocks.
  • Faster Litecoin transactions mean reduced risk of double spending.
  • For two Litecoin confirmations, you will only need to sit tight for 5 minutes, while in Bitcoin, you are supposed to wait for 20 minutes for a similar number of confirmations.

A large number of people involved in Bitcoin often tout transaction and confirmation speed as moot points as the confirmations given by most merchants are zero for most purchases.

One thing to remember here is that all transactions are instant, it is just the network that takes the time to confirm it as it propagates.

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Bitcoin Price: Top Cryptocurrency Struggles to Surpass The $9,000 Mark

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The price of bitcoin has finally surpassed $8,500 and all major coins are also struggling to hit their all-time-highs, which shows that the cryptocurrency market is finally seeing a recovery. The market has been seeing its longest downfall since December and the cryptocurrency market cap altogether dropped by $18 billion recently, however, things are now getting rebounded once again.

Bitcoin Price still struggles to surpass $9,000:

On Tuesday, the price of Bitcoin made another push and was trading at $9,000, which demonstrated the significance of its mark but after not so long, it got stuck at $8,999 and started to flip once again. This decline in the price of Bitcoin continued till the early morning hours throughout Tuesday and BTC ultimately experienced a slight bump by hitting a low of $8,313. Bitcoin is valued above $8,800 at this very moment, which means that it has got the market cap of $148 billion with 1% upsurge in its worth, but still bitcoin struggles to surpass the $9000 mark.

 

Upsurge in Ethereum Price:

The price of Ethereum has seen an upsurge once again, as it was declined by 4% on Tuesday, but at the present time, it’s priced at $864. Ethereum has now increased by 1.6%, which translates that it has the market cap of $84 billion at this time. Despite the fact that it has declined recently, the looming introduction of CryptoKitties in China has to be monitored by the investors of Ethereum as it could provide the price of Ethereum with a very little bounce.

Altcoin Charts:

100 largest cryptocurrencies of the market have managed to stand against the US dollar which ended up in the favour of altcoin markets, in which few cryptocurrencies that showed a single-day gain didn’t rank in the market cap top 10, whereas the top cryptocurrency bitcoin, struggles to achieve its all-time-highs.

The price of Ripple has seen a 1.3% decline, which indicates that the investors are becoming more proficient at extricating information that is helpful for the Ripple company. In the meantime, the price of Bitcoin Cash is currently trading at $1,282 and has seen 3.60% upsurge.

The sixth one on the ranking, Cardano has borne a 0.58% upsurge in its value and is now trading at $0.37. A serious challenge is now being faced by the Cardano’s ADA token from EOS, which has the 9th largest market cap, $6 billion.

The price of Litecoin has seen 15% upsurge in the value which means it’s currently valued at $182, while NEO which is on number 8th in the ranking is priced at $113 with a 0.75% upsurge.

IOTA and Stellar have seen a 3.8% and 6.7% upsurge in the price respectively and their prices are valued at $1.8 and $0.5 individually.

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