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Miguel Cuneta, the co-founder at Satoshi Citadel, which is a renowned digital money investment firm in the Philippines expressed that the $10,000 hype was produced by the media recently. Minutes after the bitcoin cost crossed $11,000, it dropped to $9,000, and soon after, the predominant press was anxious to publish a progression of articles on the next bitcoin crash.

“News outlets barely had 24 hours to let the ’10k’ news simmer and it has already gone up to $11,500. When they published the ’11K’ piece, it had already dropped to $9,000. And when they entered the last word on ‘Bitcoin is crashing!’ article, it was back at $11,000 per BTC,” wrote Cuneta.

With the cost of bitcoin almost at $12,000, bitcoin is currently the world’s 6th most valuable currency on the planet. Hence, while the majority of predominant press outlets and analysts in the finance sector are focused on the transient value pattern of bitcoin, Cuneta clarified that bitcoin will probably turn out to be significantly bigger than most can imagine.

“Along these lines, we could watch one of the greatest financial rises in history unfurl with this bitcoin insanity. However on the opposite side of the coin, there is additionally the non-trivial possibility that we are seeing something striking happening right in front of us — the arrival of the separation of cash and state,” Cuneta noted.

The Future Beyond $12,000:

Bitcoin has hit the $11,000 mark and is going to cross $12,000 in December, given the entrance of institutional financial specialists and billions of dollars in capital. As institutional cash streams into the bitcoin advertise through bitcoin prospects, the $165 billion market cap of bitcoin will increase quickly, giving greater liquidity.

Cuneta added: “More than one-third of a trillion dollars. That is the aggregate sum of digital currencies on the planet. $165 Billion belongs to the Bitcoin alone, which just shows how overwhelming network effect can be. Due to Bitcoin, the ability to create cash has come into each person’s hand on the planet and detracted from lords and governments.”

For this specific reason, a few renowned financial specialists inside the cryptographic money space have communicated their optimism towards bitcoin price reaching $45,000 before the finish of 2018, accomplishing a $1 trillion market cap.

Story credit: cryptocoinsnews.com

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Factors behind the success of Bitcoin’s Value

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Factors behind the success of Bitcoin’s Value

Something, which facilitates the people in their lives, automatically will have some values. Whether it is in goods or in services. Therefore, Bitcoin’s uses and its benefits are the reason behind its value. Bitcoin community is active as other social networks. In addition, the main reason behind its increasing worth is the limited supply of bitcoins. Whereas, the government is unable to trace and tax. Bitcoins are in limited quantity. Accordingly,  the price of bitcoin in this year is 50x. which is seriously an insane swing of any currency.

Currency needs some qualities

There are some qualities which should be in any currency.  These qualities make the money more powerful.

Rare

Actually, money/currency should be limited in supply.  As economics proves that demand will increase with limited supply. Similarly, with the bitcoin, the total supply of 21 million coins increases its demand. In the result, its values increase day by day. Today’s value of bitcoin is $2251 as of May 23rd 2017.

Utility

The utility of any currency or object plays an important role in the determination of its value.  In the result, higher demand enhances the higher price.

Transferable

As currency/money always use in the transaction process, or in exchange meanings. Accordingly, If money has an ability of easily transferable then it will use by a large number of people. Moreo, if it has not, then money/currency’s demand will be low. Accordingly, Bitcoin’s transfer availability is in more than 100 financial sectors.

Unspecified

Everyone in the world has an authority to keeps his/her transactions private. Whereas, People like the process, which provides them such kind of privacy for their transactions. However, Bitcoin provides such type of process to its users.

Here is some discussion about how bitcoin value.

Scientifically

Bitcoin technology has worth for solving the long-standing two general problems. Clever solution for transactions of digital spending is achieved by the self-organizing and time-base record. The blockchain populate the bitcoin network, is well known public ledger.

Technologically

There is not central server to control or shut down the bitcoin protocol. Censorship resistance of bitcoin is critical. Clearly, means there is no one to control the usage of bitcoin. Censorship resistance to digital currency and its payment system makes the bitcoin an irreversible disruptive technology.

Social values

In the field of computer science, Satoshi Nakamoto’s innovations are milestones. Even so, with no limitation, bitcoin become the number one exchange and payment network. Each bitcoin users are responsible for his/her bitcoin’ security. Most of the people like the anonymous behavior of transactions are one the reason of bitcoin’s fame.

Bitcoin’s design

To the solution of double-spending, Bitcoin’s explicit design features offer users additional value:

  1. Bitcoin’s payment method
  2. Secure storage and transmission of user’s data
  3. Blockchain (decentralize public transaction ledger)
  4. Contract mechanism

 

Secure way for transactions

In addition, bitcoin user’s wallet generates the public keys.  Therefore, no one is allowing to step-in transaction’s process.

Network

Bitcoin is peer-to-peer decentralize network. However, nodes are distributing to decentralize the whole network. Whereas, Bitcoin is designed to seek the nodes. In short, the greater decentralization the healthier the network.

Above all are few aspects, that makes the bitcoin valuable. So, take time and make the decision with bitcoin world.

Tags: current bitcoin value, Bitcoin’s success factors.

 

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What Should Be Considered in an ICO Whitepaper?

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As the popularity of ICOs (Initial Coin Offerings) is mounting along market’s instability and other cryptocurrencies fraud around the world, a debate has emerged about the appropriate regulatory policies for cryptocurrencies and ICOs. The most frequently asked questions include the proper division of authority amid the SEC (Securities and Exchange Commission) and CFTC (Commodity Futures Trading Commission), whether authority of these commissions should reach the core of the cryptocurrency ecosystem, as others are expecting that a whole new regulatory rule is required for cryptocurrency and token fundraisers. This blog illustrates the congressional testimony on cryptocurrencies, which aims to reflect the existing regulatory approach that is being used by the regulators to observe and manage ICOs and cryptocurrencies, and how more regulatory clarity can be achieved in such markets.

ICO whitepaper

US Securities laws disclosure system is the prime one, where promoters can easily share information related to their company and management, openly. With SEC, this information is filed later. By dissimilarity, most of the ICO disclosures are enabled via “whitepapers” which are unregulated at this time, focusing mainly on the current technology and on such technologies that are under-development.

Investors and buyers of ICO tokens that are looking for a good return or technology users that are looking forward to contribute and support in an advanced product would have to expect certain disclosures for making a purchase in a conversant way. Some of the disclosures that have been identified by the entrepreneurs themselves are specifically relevant to ICOs transition.

Location of Promotors

According to a study, in 32% of ICOs, it is literally impossible to identify the promoter’s origin. From an investor’s point of view, this is a serious information asymmetry. It won’t be possible to identify what legal protections and rules are. without this information. Moreover, there are few ways through which investor can interact with related public authorities especially in case of fraud, like; loss or theft. So, ICO whitepaper should set out a comprehensive report of where the issuer and its key management are placed.

Issues

If we talk about the history of US Securities law, there was no such information important for investors than the financial statements of the issuer. Investors could easily evaluate the past performance of the company by scrutinizing income statements, cash flow and balance sheets, and by doing so, they could make well-versed guesses about the future performance of the company as well as its profitability.  A whole ecosystem of third-party auditors, credit rating agencies, and accountants, were settled due to the criticality of financial statements in securities offerings, to make sure the accuracy of financial statements.

ICOs serves for a different purpose as compared to most of the traditional IPOs (Initial Public Offerings). Rather than funding trading companies, ICOs involve products industrialized by startups identifying technology-based issues and offering the sale of solutions based on technology.

It’s not the past performance of the company or financial statements for most of the offerings, but it’s the venture’s technology plan. Therefore, guaranteeing that investors/retail buyers comprehend the crucial contours of the fundamental technology solution is ultimate as ICOs turn out to be a more and more popular way of fundraising.

Moreover, further technical chunks of the ICO whitepaper would be a perfect subject to a system of third-party authentication, especially for larger fundraises. Also, when describing the solution, hyperbole should be avoided by the promoters which are an endemic problem in whitepapers. Plus, investors should be required to identify an objective base for all the upcoming statements as well.

Blockchain

Investors should be well-versed about how the secondary infrastructure works, and how it is going to affect the governance of the token. Also, the consensus method for a virtual currency’s Blockchain should also be revealed as well, along with a summary of how the governance decisions, plus other decisions affect the network, such as; software upgrades, which will be synchronized amid the several investors such as designers, miners, and users.

Token’s Description

This is obvious that tokens can have a number of different economic and qualitative features, like; currency, utility, or securities. The disclosures would have to elucidate what it means to a typical holder, if the tokens are created in a technological format, complying with firm guidelines, like; ERC20 standard.

Likewise, if some efforts will be made for listing a token, for example, to list a securities token on an ATS (alternative trading system), or if there are trading limitations on the security, then such facts have to be disclosed in a way that is clear to the owner of the token. The description of token should specify the envisioned use of the coins that are issued in the offering, their quantity, plus whether the advisors will keep the reserve coins, and if they do, then how they’d liquidate them. Promoters should be required to reveal their intellectual ownership of the company’s protocol.

Technical Team Qualification

Common disclosure requirement in registered offerings is the information about the business experience of executive officers as the investors are given a sense of the quality of management and are probably the success of the company once it goes public. In ICOs, companies have restricted histories and the problem may be exceptional, if same information about the offering’s technical team could be evaluated. At the same time, coders have diverging backgrounds, as some are more qualified and experienced than others. Also, to provide investors with an intellect as to the proficiency and reliability of the white paper, many founders should provide all info linked to key engineering experience, skills, qualifications and other relevant features. Plus, it should also be mandatory for developers to provide links to their previous work.

Risks

ICOs should involve disclosures regarding the most substantial risk aspects affecting token holders in the offering document. Even though many investors will probably understand that even successful ventures can be later disintermediated by more effectual nonentities. A token holder may get astonished to discover that the product doesn’t function as it’s intended or might develop a purpose all-in-all contingent on the progress of the technology, possibly even less in all likelihood, the requirements of the contributors in the ecosystem. Shareholders should comprehend as well that the greater sectoral risks, including variations in the trade that could demote some designs of blockchain into further parts of the sector, making many tokens worthless. Buyers had to be completely aware of their latent susceptibility to hacking, disruption, and data-loss, also authorized subjects like privacy concerns and information transportability across borders.

No doubt, there are other imperative disclosures as well that should be operationalized in means that are way too much effective.

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Legendary Move by “Legends Club” In Las Vegas – Becomes The First Club To Install Bitcoin ATM

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Bitcoin ATM

Over the last few years, Bitcoin has seen an incredible growth in popularity. Numerous stores, corporations, and businesses have started accepting Bitcoin as a form of payment. But this is not the only interesting part. What’s more intriguing is the fact that Bitcoin is no longer confined to only  business community. The currency is starting to take on the entertainment industry just as well.

According to the latest news from LV, a Las Vegas-based club has installed a Bitcoin ATM and is planning to register members through Blockchain.

Peter Klamka – the owner of Legends Club stated: “It was an easy choice to make. The club is recently opened and judging by the traffic, it only seemed a natural location. It was something that I had always planned and there wouldn’t be a better time to pull this move off.”

Looking at Klamka’s history, it’s pretty obvious that the guy is filled with passion for Bitcoin. He operates a company named Bitcoin Direct, LLC, and had also installed a Bitcoin ATM in Mixed Martial Arts Studio in Las Vegas.

Interesting fact: The ATM is branded with one of the club’s strippers – adding some extra flavor to it. The members are also calling it the “Porn Star ATM”. The Porn Star ATM is the second that Klamka has branded. First one was Mike Tyson’s ATM.

While talking about his plans, Klamka proposed that he is also considering to brand sports and celebrity ATMs.

“I also think branded ATMs of any kind will bring new audiences and new users to digital currency,” he said. “Nick Blomgren (who runs the Legends Club as well as the mixed martial arts studio) and some of these performers are more willing to experiment and test ideas.”

“It is similar to branded slot machines that are everywhere in Vegas and in casinos in general,” Klamka said. “In a longer term, it will encourage business to embrace digital currency there are no chargebacks frauds and transaction fees are extremely low.”

“The goal is to make an item for organizations to help drive the business forward,” Klamka told CCN. “We’ve seen individuals wanting to take pictures beside these ATMs.”

“I also think that branded ATMs of any sort will pull new users towards cryptocurrency,” he said. ”

Why It Seemed Such a Perfect Fit?

The MMA community is closely allied with the club, and given the popularity of Bitcoin amongst the MMA community, it only seems natural to have a Bitcoin ATM at the club.

Famer Stephen Bonnar – club executive and UFC hall of Famer – has close ties with MMA fighters and is always working to assemble the MMA fighters as hosts, friends, and members of the club.

Bitcoin and Strip Clubs:

The Legends Room is possibly the first strip club in the world to accept Bitcoin payments in addition to accepting traditional payments for services that the club provides.

Moreover, the club is also working on the idea of registering membership through blockchain. The approach will allow the owners of Las Vegas nightclubs to rent memberships just like real estate.

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What Are the Best Bitcoin Escrow Services In 2017?

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Best Bitcoin Escrow Services

Using third-party services for bitcoin transactions is a great idea, especially for LocalBitcoins users. This is because these types of transactions take place between two untrusted parties. So, you never know when a seemingly simple transaction could turn into an ordeal.

To avoid any unfortunate incident, we advise you to transact bitcoins via escrow service. The escrow service protects users from scams and makes sure that the transactions are taking place in a safer environment.

Learn about the most common Bitcoin scams and how to avoid them.

In case there is a dispute, the escrow service would act as an arbitrator and determine who the funds actually belong to.

Many Bitcoin marketplaces (BitPremier, CryptoThrift, Local Bitcoins, etc.) come with a built-in escrow service. However, if the marketplace through which you are making a transaction doesn’t provide one, then consider the ones discussed below.

Best Bitcoin Escrow Services:

Here are some of the best Bitcoin escrow services to trade your coins.

BTCrow:

BTCrow was established in 2011 and is one of the oldest escrow services out there. Although, the only long-lived solution, BTCrow isn’t that reliable. There have been many complaints regarding delayed payments and system’s response. For example, a user once made a transaction through this service but didn’t receive the payment for a good while. Even after contacting BTCrow support, it took around 12 hours to release the payment which was $7,500 USD. This is way too much for a transaction involving this much money.

Escrow My Bits:

Established just two years ago, “Escrow My Bits” has gone on to become one of the go-to names for Bitcoin users. The site offers a wide variety of services to escrow bitcoin, including:

Regular Escrow:

The site provides the user with a Bitcoin wallet address and asks them to deposit funds in the account. These funds are then forwarded to offline wallets (cold storage) which is one of the most advanced forms of wallet security.

Regular Escrow Pegged to Traditional Value:

The coins are deposited into an account controlled by the site. After the deposit, the coins are pegged to conventional value.

Multi-Signature Escrow:

This service secures your funds through a multi-signature transaction. The funds cannot be withdrawn unless all the signatures are accurately provided. The site holds only one of your private keys.

Multi-Signature Escrow Pegged to A Fiat Value:

Similar to the one mentioned earlier, your funds are kept in a secure multi-signature transaction using “Nubits” or “Omni” to peg the value.

The primary advantage of Escrow My Bits is that if a transaction takes longer than expected, you can still peg it to the fiat currency without the exchange rates affecting you.

The site deducts 1% per transaction in service charges.

Bitrate:

A Bitcoin escrow service which comes with the multi-signature feature. Bitrate is more like a multi-signature wallet.

A multi-signature bitcoin wallet is a wallet which can have multiple owners. To complete a transaction, these wallets require the signatures of involved parties. For example, if a wallet is shared by three individuals and two of those three decide to make a transaction, the order is executed.

The biggest advantage of Bitrate is that the site itself doesn’t hold the private key so it cannot steal your funds.

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LITECOIN GAMBLING – BEST SITES, ADVANTAGES AND DISADVANTAGES

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This article will give you a complete and comprehensive guide to Litecoin gambling. First of all, you have to find a description of how this digital currency works and by what means to gamble with Litecoin. In this article, different available litcoin gambling games are discussed.  These games are including dice games to complete casinos and also simple lottery games. In the end, you will find some benefits of gambling with Litecoin and also a comparison between Litecoin and other Digital currencies like Bitcoin.

How Litecoin Works and How to Gamble with It?

Litecoin mined same as Bitcoin. There are ultimately 84 million Litecoin, however, at this time there is a lower percentage of that number. You may hold this digital currency in a dedicated wallet, which you can download on the most computer and also your mobile devices. You can buy and sell Litecoin at the same exchanges which sell you Bitcoin. These exchanges include BTC-E and Coinbase. There are some restrictions on purchasing Litecoin and Bitcoin by using payment method which is potentially reversible. But you can buy Litecoin with Bitcoin and Vice-Versa.

Anyone can gamble anonymously with Litecoin. You just have to register yourself at an online casino with an email address. You pay through your wallet using a receiver Id, which you do through cut and paste from a gambling site. The deposit ad withdrawals both are almost instant. When you have to withdraw you just enter your wallet Id and the total amount you want to transfer.

There are a lot of Casinos which accept Bitcoin have started to allow gambling through Litecoin too. Known as “Natural Successor” to BTC, and is the second most famous digital currency online.

What are Litecoin Gambling Options?

There is a wide range of online gambling options with Litecoin. Some gambling games are also available which you can play with Litecoin. The main difference is the simple games that have established by the digital currency community, and the by the fully developed casinos. These online gambling games offer different payment method as pay through Litecoin or Bitcoin.

Some games are graphically much ugly. The biggest attraction these games is that they have the technology which shows that they are provably fair.

Here are some examples of best gambling sites

1.     Litecoin Hi-Lo:

This a simple game in which you have to guess high or low through a sequence of cards. Since you can discuss the odds you get and can also choose how much risks you are ready to take for every card. These games are Provably Fair.

2.    Litecoin Dice:

This is a probability based game, generally based on a casually generated number which is between 1 and 100. You have to just set your own odds by selecting the range of wins. You will be able to check whether the game was random after facts. The sites which provide these games offer a trail of the last 20 games for you so you can able to see the results of those too.

3.   Ponzi Games:

In these games, you have to make sure you have not left holding the bounty after 24 hours are up. You will buy a string from the last player, then 0.01 LTC will be added to the total at this point. Then try to sell the string. If someone buys the string, you make a profit, if not, then you will get a 10% as a consolation prize.

What are The Casinos Accepting Litecoin?

Bitcasino.io is the fully featured casino which runs on the platform offered by CoinGaming. This includes 3D slots from the acclaimed BetSoft, Video Poker, and Keno. You can also find a Live-Dealer Casino too. The suggested names also accept Bitcoin. If you like sports, the Bittcasino also have a fully-featured sportsbook.

What are Gambling Advantages With Litecoin:

Most of the advantages of gambling with Litecoin are common with Bitcoin.

·        These advantages include check and balance to verify to confirm the fairness of games.

·        You can play with Litecoin anonymously.

·        No personal backup document and information is required by the gambling sites.

·        There are no transaction fees playing with Litecoin.

There are some technical benefits however, these are behind the scenes in the Blockchain processing.

Tags: bitcoin vs other cryptocurrencies

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