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According to Massachusetts Secretary of the Commonwealth, William Galvin, Bitcoin is dangerous for investors because it’s subject to manipulation. He issued a warning against the cryptocurrency in December for Massachusetts state just like the one that his office issued in the 80’s against Apple.

Mr Galvin said that Bitcoin is a subject to manipulation because none of us can explain it. Neither any of us can explain precisely when and from where these profits are coming and going. According to Mr Galvin, there’s no question about it, as it’s clearly a bubble. People are investing in it because they believe that they’re going to make lots of money by just investing in this.

bitcoin news today

He also warned that he has seen many bubbles for centuries but this one certainly succeeds. He thinks that by simply adding the word Blockchain to your name, a company entirely dissimilar could go up so it’s clear that’s it’s a wide mania and a bubble.

 

Bitcoin’s highest price was last seen just before the Christmas at $19,000. During the Christmas holidays, the cryptocurrency fell down below $13,000 for four days constantly. Although its value changed back to $16,000 after Christmas, but it has since decreased once again. According to Coindesk, on December 29, bitcoin is now valued at $14,211.86.

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Top 5 Intriguing Bitcoin Conspiracy Theories

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We’re surrounded by all sorts of mysteries that are yet to be solved but, the biggest one yet is how the cryptocurrency king, Bitcoin, was created and why. Keeping that in mind, there have been various bitcoin conspiracy theories on the internet. Here are some of the ones that seem more legitimate than others.

  1. JPMorgan Was The Reason Behind The MT. Gox Collapse

It’s a fact that organizations such as JPMorgan don’t see much profit in bitcoin but, they’re all in for the technology that lies behind it. Mt. Gox drove bitcoin’s value to higher limits, while JP Morgan composed a price crash by selling over 8000 coins to drive the price back down.

Parallelly, JPMorgan was funding anti-bitcoin articles teamed up with mainstream media firms. To tell you the truth, all these concepts, do sound quite reasonable, however, it seems unreal to think that such an institution would intentionally crash the bitcoin price.

  1. Satoshi to Bitcoin Said To Be An AI

Has it ever occurred to you that Satoshi Nakamoto could be an artificial intelligence? Well, considering that the world has been on several hunts as to find out the persona behind the pseudonym that no one can actually think that it might be an AI created by a hidden government. While this theory does seem a little far off, it spurs up some really exciting discussions.

  1. China Invented Bitcoin:

Many seem to believe that the Chinese created Bitcoin as to wipe out their dependence on the US dollar. While it is a fact that China has been working with Russia and others to create a payment system, it is doubtful they would create bitcoin to substitute the US Dollar.

  1. Bitcoin Is A NSA Project:

This is a theory that has been quite popular on the web that how bitcoin was created as an experiment by the NSA. Claiming that Satoshi Nakamoto is actually a pseudonym behind the top-secret cryptocurrency project. Also, it is said that the NSA has access to the SHA-256 algorithm, which makes bitcoin a lot less secure than what it’s assumed to be.

  1. Major Governments Partake In Bitcoins “Arms” Race:

In 2013, a conspiracy theory had risen from the Bitcointalk forums. A user came up with the concept that major governments like US and China were buying bitcoins in bulk for themselves. Let’s not forget both these governments had first opposed the cryptocurrency when it emerged, which makes this theory quite believable.

Tags: Satoshi to Bitcoin converter

 

Story Credits: themerkle.com

Image Credits: google.com

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Upcoming hub for blockchain development

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After April 28, Rising center of blockchain technology, the city Hangzhou is going to establish itself. The government of Hangzhou is going to establish China’s first blockchain park. In addition, that park will be with preferential policy support.

Hangzhou????

Hangzhou is the capital of china’s province Zhejiang. This place is famous for its southern terminus of the ancient grand canal waterway. Now, this place is going to be the hub of this new technology.

An event of G20 summit in 2016, brings the Hangzhou to the stage of economics and politics. Moreover, along with Shanghai and Beijing, Hangzhou is rising city in china which is going to be dynamic and a big supporter of innovations and technologies even in transformative industry.

CEO and founder of the imToken states about his new company, “We have decided to move our team to the Blockchain Industrial Park. The government of Hangzhou has promised companies moving into the park subsidies for office and talent recruitment, tax deductions and government funding support. However, the supportive attitude of the government matter[s] more to us than that of subsidies. I believe this active approach from the government will enable Hangzhou to stand out as a financial technology city.”

Direction from banking sector

Central banks around the world are trying to move their infrastructure to blockchain technology. Because this technology has enough power to renovate the banking industry and directly create an impact on a current mechanism. In that scenario, People’s bank of China has completed the trial version of its own digital currency. In addition, the bank is going to be the first central bank which has the ability to issue digital currency. Interestingly, the bank of Hangzhou and China’s A-share companies also attend the summit.

Head of e-banking Hu Feihua states, “Bank of Hangzhou is always trying to keep abreast of the most updated technologies beneficial to banks. For blockchain, not only will we try to support the blockchain industry by providing an easy access to loans to startups, but we ourselves have a special team focusing on the research and development of blockchain. As a matter of fact, Bank of Hangzhou is one the members of a banking think tank that have to contribute to PBOC’s digital currency.”

Furthermore, “This is an interesting question. Job cuts seem inevitable when it comes to technology innovation. But for Bank of Hangzhou, we actually expect our staff to update themselves in their thinking and skills so that they can offset the risks of being sacked. On the other hand, banks will still be important and there are always rooms for us to use our workforce to increase our standard of service. Therefore, layoffs will not impede us in developing blockchain technology.”

China’s strategy

According to the official report of Hangzhou’s government, Hangzhou is now going to host 12 blockchain startups, which is a number crossed by Shanghai and Beijing.

Blockchain technology market trends are promoting by the central government of the China and its local government. Therefore, the reason is, users of China’s three exchanges Huobi, OKCoin and BTCC are not allowing to withdraw bitcoins. Which is directly the reflection of China’s aim of social and financial stability. That should never fall weak in front of market strategies, which place them at risk.

In 13th five-year social and economic program blockchain became as an important direction to innovations seekers. Because this plan is the most important strategy to the social and economic sector of the China. Plan for 2016-2020 set by this program.

Therefore, Hangzhou ‘s summit of this year proves that China’s strategy is to implement this plan to make it accessible for the locals. China’s capital will exceed in terms of funding, talent and wisdom. As a result, cities like Hangzhou and other cities will hold the summit next.

In the middle of June, Hangzhou and other countries will hold a high-level blockchain summit. In addition, china is going to be a strong entity in the digital world. Thus, a large number of people believes that China is the driving force of fifth industrial revolution.

 

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Bitcoin – A Child poster for speculation

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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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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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Buy Apartments in Turkey Using Bitcoin

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If you’re looking for a new luxury apartment, you might be surprised to know that now you can actually purchase one with bitcoins.

Recently, Dubai had announced an apartment project where Bitcoin owners can purchase these chic apartments.

Well, Turkey isn’t far behind as the owner of the MiaVita Beytepe project in Ankara, Turkey just announced that their very own luxury apartments are available for purchase using the digital currency.

Erdal Daldaban, the project manager firm owner, had enthusiastically said:

“We decided to make sales via Bitcoin, which has recently attracted the attention of Turkish investors with its recent value route, considering that we could also attract the attention of our customers who appreciate their investments like this.”

Why Bitcoin?

Daldaban says this is the reasonable next step:

“Bitcoin and digital money has become an element that can no longer be ignored by the global economy.”

This is mainly because of its current value in the market and the increase in its adoption around the world.

During last week, a home in Austin, Texas was bought using bitcoin news and a house in London was put up for sale on a minimum price of 500 bitcoins.

 

News Credits: steemit.com

Image Credits: fox40

Tags: Bitcoin Turkey, Bitcoin trading

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