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The value of the cryptocurrencies is fluctuating every moment. That is why investors still consider these cryptocurrencies are very new with supreme returns.

Ethereum’s value was all-time high over $400 in June but fell lower $200 for the first time since May 30. Furthermore, Bitcoin’s price correction wiped off closely $4billion in its market price.

Bobby Lee, CEO of the Bitcoin exchange told CNBC that the true value has yet to be discovered. He states in a Hong Kong conference, “If you think about it, the volatility is natural for an asset class that is so new. There’s no price discovery for it (yet).”

He explains that people need to discover the true value of the digital currency bitcoin. They have a tendency to trade these assets at a firm, promotional level before market analysis it could be worth more and this a time when the price jumps.

After getting legalized in several countries, the currencies have seen a significant rise in the popularity. Such as Japan legalized the bitcoins as a payment method.

Managing director of Hong Kong-based commodities and digital currency trading house Dave Chapman says, “We now sort of at … a tipping point, where people are now considering bitcoin or ethereum or digital assets as more mainstream.” And,” A lot of the people that we service are actually very comfortable with having 1 percent of their net worth into bitcoin as it is considered to be the best way to invest in bitcoin.”

He also adds, “There’s no other asset class in the world that could’ve given you the historic performance of this sector … the historic performance, which is obviously not representative of future earnings, … does appeal to a lot of people.”

For situation: $100 of Bitcoin credited in 2010 is now worth more than $75 million.

The analyst has made mixed estimations about these digital asset’s values and market cap as well. According to the BTCC’s Lee experience, the market cap for the Bitcoin will hit at least $trillion by 2025. He says, “I think it’s going to go to at least $1 trillion, if not maybe $10 trillion in the next five to ten years.”

Bitcoin’s current market cap is about $38.55 billion on supply and around 16 million in circulation. Whereas, the total supply of the bitcoin is 21 million. According to Lee, “In a grand of scheme of things, it’s nothing. Many, many companies are worth way more than that.”  Furthermore, tech companies already have their market cap in billions or trillions of dollars.

Regulations may help to increase the credibility of these digital assets. Accordingly, Japan, Russia, and China are introducing new regulations.

In the end, Chapman also added that a number of investors have a fear of loss. That’s why they are still not ready for bitcoin investment in the digital currency market.

“We get a lot of people who are like ‘You know what? I still don’t believe in this experiment. I’m not really a believer, but I’m tired of sitting on the sidelines and missing out.”

 

 

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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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Is Crypto Ad Ban Going To Be A Blessing In Disguise?

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According to the most hot and circulated ICO news 2018 is going to be a year of ban for crypto ads. Internet’s largest platforms have already started to ban all sorts of crypto advertisements.

Even the giants of internet like Facebook and Twitter announced crypto ad ban last January. Reddit took the same decision way back in 2016. Google is being expected to do the same in the near future. It is quite obvious that almost all those websites which are short sure for traffic generation purposes would follow the same protocol in case of crypto industry. No doubt all that scenario was full of hurdles for the crypto industry. Even in terms of cryptocurrency startup it was a big barrier extremely difficult to be crossed. But the crypto researchers and markets entrepreneurs are not looking at it in the same way. They do believe that all that way full of hurdles might prove to be a road of success in the near future. Let us see why they are so much optimistic about it.

crypto ads

How Can This Ban Turn Into a Blessing?

Well for the time being it might be a bad luck for the crypto advertisement but according to various web platforms that are directly related to the crypto industry are quiet optimistic about it. For instance, a website which for the time being does not want to disclose its name due to several reasons, has exclaimed that it will offer its complete platform for the advertisement purposes of crypto. In other words it will lend a hand to make it possible for the crypto startups reach potential investment opportunities. Same idea has been presented by some other giants of the Silicon Valley. No doubt this act will turn that ban into a total blessing, however many things and options must be considered and availed respectively, before the proper implementation of that marketing strategy.

Main Reason Behind the Ban

According to a statement issued by social media giant Facebook the reason for such a drastic ban on crypto related advertisement was only because of the scams associated with the initial coin offerings that come under the definition of misleading or deceptive promotional practices. Especially those tokens which are offered at low prices on these advertisement platforms have proved to be the main target of scammers. Even the Securities and Exchange Commission has declared these tokens unlawful which according to it are securities and must be listed with the agency.

 

On the other hand, entrepreneurs and crypto analysts are agreed upon the fact that by banning such advertisements, Google, Twitter and even Facebook are going to lose a great earning opportunity.

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Buying Bitcoins Through Xcoins – Is the Service Legitimate?

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Buying Bitcoins Through Xcoins

Xcoins is a Bitcoin lending service. It allows you to buy bitcoin with a credit card or PayPal. Lately, there has been too much talk about Xcoins and whether is it legit to buy bitcoins with this service.

In this article, we have discussed all the aspects of Xcoins to help you understand the concept of the service, and whether it is legit to buy bitcoins through Xcoins.

Buying Bitcoin with PayPal Through Xcoins:

Due to the possibility of chargeback fraud – and the lack of support for Bitcoin from PayPal itself, it’s extremely hard to buy bitcoins with PayPal. Xcoins, on the other hand, have exploited this problem and claim to have found a solution in which the coins are loaned instead of getting sold to the clients.

In order to buy bitcoins through Xcoins, the users go to the site where they do an ID verification. After the verification process, they’ll be required to deposit:

  • USD equivalent to how much they want to borrow
  • PayPal/credit card processing fees
  • A fixed amount that acts as the interest on the loan

The site claims to have competitive fees due to their lenders competing against each other for the best possible rate. However, in most cases, the interest rate is fixed at 15% – which could possibly be the lowest interest rate offered by Xcoins. Interestingly, it’s still way higher than what most Bitcoin exchanges offer.

Trading Bitcoins on Xcoins:

Xcoins is not just a buying service – you can also sell/lend coins on the site. To do so, you must decide how much you are willing to loan, and then deposit the amount into your Xcoins account. The amount must be in USD.

Once the deposit is made, the system will automatically direct you to the buyers and they will deposit the money directly into your PayPal account.

Pros and Cons of Xcoins:

The major pros and cons of Xcoins include:

Pros:

  • The quick purchase of Bitcoin either through Credit Card or PayPal.
  • Easy sign-up.

Cons:

  • Slow refunds – can take up to a week or longer.
  • Support staff is not active – even on working days. If you send them an email, expect the response to come in at least two days.
  • Constant complaining to their Support can result in a permanent ban.
  • If you do not dispute your charges, they will disable your ability to buy bitcoins.
  • If you purchased some coins but the lender is not willing to release them, you will still be charged.

Conclusion:

From buyer’s perspective – Xcoins isn’t stable enough for large purchases. Also, the fees are extremely high in comparison to other exchanges. However, if your only option to buy Bitcoin is PayPal, then Xcoins is the way to go.

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UNDERSTANDING BITCOIN – Recap

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We’re well aware that Bitcoin is an entirely digital currency that lets its users trade money without the involvement of any third-party authority (such as bank, government etc.).  Also, these trades are made anonymously, that means no personal information is given out or even required for a transaction.

Out of the many perks of Bitcoin, two happen to stand out the most:

Instant Transactions:

  • With Bitcoin, you can exchange money almost instantly with anyone anywhere in the world (but do check if Bitcoin is banned in that country or not). You don’t require a bank account, just a Bitcoin wallet that could be installed on your smartphone, tab, computer etc.

Anonymity:

  • You aren’t required to mention any personal details which reduce or eliminates the risk of identity theft.

Bitcoin Mining & Blockchain:

For understanding Bitcoin, one must understand how Bitcoin mining works. It is the process behind the creation of bitcoins. During this process, complex mathematical equations are solved by mining hardware in order to verify and generate a block. Every time a transaction takes place, it is tracked digitally by computers in a record, where all transaction details are described.

Bitcoin miners are the people who own those computers and confirm transactions. Moreover, they’re also paid in bitcoins and sometimes even paid a fee for the transactions. Since there’s no involvement of a central authority, miners ensure whether the right amount has been transferred and each member has the right balance after the transaction is completed.

These transactions are shared onto a public ledger, also known as, the Blockchain, which can be accessed by anyone. Every transaction that ever took place is mentioned here along with the Bitcoin address linked to it.

Bitcoin Wallet:

Now you must be wondering, what’s a Bitcoin address?

Let me help you. In order to own bitcoin(s), one must have a Bitcoin wallet. You can get all sorts of wallets, hardware, and software. Install one on your phone, computer or just purchase a physical one. After you’ve got your personal wallet, the next step is generating a bitcoin wallet address and a private key. This is the address you’re going to share with everyone, whenever you want to make a purchase or transaction. Whereas, a private key is meant to be a secret as it basically holds the key to your coins, if you lose your private key, you lose everything.

Remember! Every transaction generates a new Bitcoin address and this is the reason for its anonymity. No one can actually trace the transaction back to you since it’s always a different address.

 

While Bitcoin has major advantages compared to fiat currency, it’d only seem fair if the drawbacks are pointed out as well.

  • The Bitcoin network is also vulnerable to hackers and viruses. Remember, you cannot enter any personal details on a site promising to give out free bitcoins.
  • Bitcoin is highly volatile, which means that its price is constantly fluctuating.
  • Another drawback is that there are only 21 million bitcoins available. So nobody knows what’s going to happen once it reaches that limit.
  • If you lose your wallet, those coins are gone forever, unless you’ve created a backup of it.
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Bitcoin voting machine

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Bitcoin voting machine

Each system of payments or transaction needs security. As, we have so many issues like accounts hacking, snatching, robberies etc. Unfortunately, no one has the ability to control it. Everyone needs the transparent and proper way of transactions. And, security expert’s recent study shows that voting machines are also vulnerable to hacking.

Consequently, don’t worry about the weaknesses. A company trying to replace recent proprietary machines with new secure and open-source voting machine. Whereas, the technology behind the voting machine will be blockchain.

The blockchain is a distributed ledger. Instead of the company have the central database, everyone has a charge to set up a new code on the network and have the copy of it. For example. a bank with the database of withdrawals and deposits. And, as a customer, you have to believe that bank has tracked your cash correctly. In addition, now imagine that a number of customers do the same job with your funds to maintain honesty of ledger. This is what bitcoin currency works with complete security of funds.

Now, this technology has the ability to maintain a voting system. Advocate-tested blockchain based election by Liberal Alliance in Denmark and in European pirate party. Now, blockchain technology is going to introduce a secure and an actual voting machine. Who keep the record of the votes by using blockchain technology.

How it works

Now, the question is how this technology will do. Voters will register themselves as they do before. On the day of elections, people have to come and fill out a ballot with three QR codes at its bottom. Codes are;

  • a unique cryptographic number which is basically a blockchain address.
  • ballet ID
  • last one for the election ID

The ‘vote unit’ will be sent to the candidates on the scanning of the votes. candidates will receive a unique address, is also called a wallet. which is how the machine knowing where to send votes.

Where you can see the candidate’s address. Accordingly, you can have the complete check that how many votes each candidate has, using the blockchain explorer that pull up the information about each ledger.

A team of blockchain technologies shows a machine look like fax machine connected to screen. While the machine disconnects from the internet to keep nasty factors from operating the votes before it connects to the internet they coming in and burn the ballots to the DVD.

Here, the point arises is, how to configure the blockchain. There are more possibilities to use the same blockchain bitcoin. Whereas, blockchain technologies crop. Introduce new VoteUnit, who works in the same way. In addition, with one change that is no transaction fees for each transfer.

Security o the machines

Senior computer scientist Jeremy Epstein explains,” Blockchainoter will never be able to know”. Young admitted it but his team uses several safeguards.

In addition, young says, “The open source code combined with the paper, DVD, and blockchain audit trails may not completely eliminate fraud in the voting process, but it will be a step in the right direction. Especially compared to the 10-15-year-old, buggy electronic voting machines we use today”.

Reliability  

Steve Borelli software developer pointed that current voting machines manufacture by banking and security company Diebold has a large number of issues. Without any external inspection. Borelli explains Anyone who knows Python can look at every nook and cranny of the code.”

The broken parts of the machine can easily replace because parts are easily available. Whereas, when machines have been discontinued some parts are difficult to replace. Developers add the term Paper trail to the machines. Hacking may go hidden if there will not be the paper trail for voters. In addition, because of paper trail voters can be up to date with elections process and its difficulties. If DVD’s data and blockchains will not match then the paper ballots can be used for verification.

Borelli explains, “if you enter a vote into an electronic touch screen first, and then it spits out a result, then it’s vulnerable to manipulation before it reaches the physical paper form.’’

Blockchain technologies crop. believes that this machine would provide secure and transparent way of voting. Borelli says we are going to embarrass Diebold.

Good luck!

 

 

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