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Tyler and Cameron Winklevoss, otherwise called the Winklevoss twins, expect the market valuation of bitcoin to surpass trillions of dollars in the upcoming years.

Main Story:

In an interview, Cameron Winklevoss clarified that the properties of bitcoin enable it to work as a premier store of significant worth that is in orders of magnitude greater than gold in various aspects, including divisibility, transportability, and monetary supply.

 

“We’ve generally felt that bitcoin, given its properties, is gold 2.0 — it upsets gold. Gold is scarce, bitcoin is really settled. Bitcoin is much more versatile and way more separable,” said Winklevoss.

 

He included that if bitcoin can keep on disrupting the $6 trillion gold market in the long haul, it will have the capacity to hit a trillion dollars in a moderately brief timeframe, given that the market valuation of bitcoin currently stays near $300 billion.

 

“Long-term, directionally, it is a multi-trillion-dollar resource — I don’t know how long will it take to get there,” said Winklevoss.

 

Bitcoin is quickly changing the global finance industry as a decentralized store of significant worth. If bitcoin market can maintain its development rate over the next couple of years, it will enter into the gold and offshore business industries. The joint market cap of gold and offshore business industry is up to almost $40 trillion.

 

Winklevoss noticed that fiat and different cryptographic forms of money are not the rivals of bitcoin. Instead, other safe haven resources and store of values, for example, gold are the genuine rivals of the digital currency. He explained:

 

“For the vast majority, it isn’t just the source of not paying taxes. It’s the target of getting the privilege to security and looking for financial secrecy,” said Marcovici.

 

Structurally and reasonably, bitcoin is an altogether better framework to store cash for people and institutional investors than offshore bank accounts, primarily because the legislatures can in any case crackdown on offshore ledgers. In 2016, the US government fined Swiss banks $1.3 billion, including more than 43,000 offshore ledgers holding $48 billion.

 

As a decentralized and distributed store of significant worth, governments can’t in any way, shape or form crackdown on bitcoin holders and records. Consequently, it furnishes speculators with security and budgetary privacy, which seaward ledgers were intended to give.

 

If bitcoin can represent even 10 percent of the worldwide offshore business industry, bitcoin’s market can surpass $3.2 trillion. In light of the settled supply of 21 million, a $3.2 trillion market cap esteems bitcoin at $152.380.

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What Is Bitcoin Hard Fork? The Most Heated Bitcoin Topic Explained!

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To begin with, Bitcoin has been the talk of every news channel, tabloid, website, etc. for a long while now. It’s increasing popularity might’ve caused a little problem for the network. Bitcoin is in a messy situation right now and something needs to be done. Fortunately, two possible solutions have been proposed as well, but only one can exist.

 

bitcoin hard fork

 

What’s The Issue?

In simple words, Bitcoin is unable to withstand the number of transactions taking place on the network.

The technical explanation is that the 1MB block size limit which is programmed into the system has become a problem and is causing delays in the processing of transactions. Basically, a purchase can take from a few minutes to hours to confirm.

Two techniques were proposed, which result in two different solutions: Bitcoin Unlimited, and Segregated Witness. They’re both proposed software updates to the Bitcoin network with the aim to completely change the way Bitcoin functions.

Obviously, the two can’t coexist, that would “fork” the Bitcoin network – splitting it into two different digital currencies.

A fork is known as a software update. Basically, updating a program from an old version to a new one.

Hard Fork:

It is a compulsory software update that is required in order for the program to function.  It can be implemented to fix bug errors or any security issues present in the older version of the software. Also, a hard fork is irreversible.

The “hard fork” will split the blockchain, leading to the introduction of a new chain of transactions branching from the original one.

Bitcoin Unlimited:

Starting off with Bitcoin Unlimited, this proposal is favored majorly by Bitcoin miners. To understand this, you must know the concept of Bitcoin mining. Bitcoin miners use specified powerful computers to solve complex mathematical algorithms in order to verify a transaction and be rewarded with newly issued bitcoins.

We are aware that there is a built-in block size limit of 1MB in the Bitcoin network, however, BU gives miners the permission to vote on increasing the block size whenever they want. This gives them control of the Bitcoin network, due to which they’re favored by miners.

Segregated Witness:

On the other hand, SegWit is being voted by many Bitcoin enthusiasts and developers. Their aim is to optimize the Bitcoin coding in a way that allows them to decrease the transaction size and increase the transaction volume, all while sticking to the 1MB block limit. They suggest the use of a soft fork.

A soft fork is a software update that lets the network to adapt to the new functionalities and features implemented. The update doesn’t interfere with the existing software and the older version will still be usable.

Who Will Be The Winner?

Aha! Too bad we can’t answer this question because half the community goes for SegWit and the other half for BU. There’s not really much we can do, just voice out our opinion and educate others with whatever we learn and maybe help them come up with opinions of their own.

We’ll just have to patiently wait and watch how this turns out.

I’d like to point out that I have a very limited technical knowledge and only know my way around a few technical terminologies. This post is a compilation of weeks of research that I’ve put together myself. So, if you do find any errors, do let me know in the comment section below and I’ll be sure to check back on them.

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What is Bitcoin Lending? A Beginner’s Guide About Bitcoin Lending

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What is Bitcoin lending?

Bitcoin lending is quite similar to the universal investing. Although, funding bitcoin loans has some features not share properly by other assets classes. In this article, we will read about principles of lending bitcoins and beginners guide to bitcoin.

Diversification:

The first and foremost cited principle of the investing is diversification. Here, mathematical details will show its effect very confidently. But we want to give you information that you can easily understand or digest. And, there is no need to study heavy statistics, you can easily apply as a lender on Bitbond.

Diversification in finance is allocating process of the finance. where the exposure will be reduced to one particle, whether it is a risk or asset. A simple way toward distribution is to decrease the percentage of the risk by investing in the verity of the assets. So, finance diversification means you are placing small bets instead of big ones. As a result of this strategy, you’ll get the decent yield. Whereas, in a case of a big bet, chances of potential return and potential loss are equal.

Bitcoin lending yield is approximately 10 p.a. in bitcoin loan’s portfolio. So, how you will diversify,

Amount per loan:

Accordingly, per loan minimum invest is 0.01 BTC, currently a small amount. This small amount is kept by us on purpose. In addition, with 1 bitcoin you have the option to build 100 loans portfolio. Here, we recommend you, not to invest too much into one loan. Two basic rules are as follows;

  • If it is a small amount loan of 0.1 BTC, don’t place more than 0.02 BTC into loan means to put 20% or less than requested loan amount.
  • If you are lending 2 bitcoins then do not put more than 0.1 BTC (2 X 5% = 0.1), means loan comprises only 5% or less of your portfolio.

Geography:

Diversify other aspects of your loan is another good feature. It is very imperturbable that bitcoin lending is listings to the country to country. As the economic environment varies from country to country. A country might be in recession period while other may a part of a dynamic economic activity. Accordingly, time gets changed and creates the impact on the economy as well. Therefore, this makes sense that loan portfolio is directly affected geographically.

Bitcoin lending is quite new in this technology era. So, that all the technology seeker countries are not listed here, listing process is in a process as well. As opportunities are growing on the daily basis, we suggested you a portfolio where a countries’ makeups are at 30% or less of entire portfolio value.

Duration:

Commonly, Loan with long duration has high default profitability mostly. Its depend on your luck because long durations are always uncertain. It may bring high-interest rate or default loss. Moreover, Bitbond has term bitcoin 6 weeks and 5 years.

If you have short term loans you need more effort to manage your portfolio. Holding different loan investment tending directly toward that your capital is not concentrated to one definite term. Your flexibility lies only in a term when your basis of long-dated loan whereas, other are shorter dating ones. If you are not ready for immediate liquidity than you need to re-invest cash again.

Rating Category:

Rating categories have the list of different risks. Higher interest tends toward higher risk. Therefore, an average return will be in the same range. You just have the option of 20% for each rating category (A to E).

Keep the concentration category below 40% in one rating category. This may consist of valued instead of loans.

Loan Terms:

Two things will happen on loan default.

  • The lender will receive the identity details and take the action by his or her own. And, Bitbond will free to sell the claim to this loan to debt collection agency.
  • Recovery amount will be higher because debit agencies will collect the amount instead of individuals.

Small amount loans are difficult to collect. But the one thing is most important, a small amount is not small in front of the world. Purchasing power varies from country to country. In addition, loan of 0.8 BTC may be small in Switzerland whereas, may have worth in Chile.

We mention here to invest in loan up to 0.1 BTC or more in established world. Whereas, in emerging markets, this amount is up to 0.5 BTC or more. You are free to check the details of the borrower from a country flag.

Meanwhile, diversification principle is to make small invest loans.

Purpose of The Loan

You need to check the description and notice what the borrower needs the bitcoin for. Each borrower has the option to write 1000 characters. Grammar, spelling might not be perfect always but the main thing is the purpose of borrowing bitcoins. Be thoughtful, if there are just a couple of words and borrower do not mention the main reason or purpose.

Affordability:

Bitcoin lending is new in the technology market and a number of things are still in working. If you follow the bitcoin lending principle properly, asset class will deliver the return of 10% p.a.

But we recommend you to invest bitcoin you can afford to lose. Furthermore, With the passage of time, you’ll come to know, how to invest and you can plan your strategy easily. Because this technology system is unpredictable.

Loan Portfolio:

Keep check of your results on daily basis. In addition, collect the pattern performance and apply them in future investments. Meanwhile, on statistics page, you have the option to download the entire history.

Goodluck!

 

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The US should encourage investments

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June 15, 2017, The US defense official Department declares that the US should endorse its investment in blockchain-based solutions. Eric Rosenbach says that government security agencies and private sector business should cooperate in cloud-based security, blockchain-enabled transactions, and quantum computing.

According to his remarks, “As I mentioned, reducing the benefits that adversaries derive from cyber and information operations is a key aspect of bolstering our deterrence posture,”    

He performs his duties as secretary of the army of US between 2017 and 2017. He also served as chief staff of the defense department. Whereas, not the single one who told about investing in the blockchain.

One of the largest US defense contracts Lockheed Martin announces last month that it is integrating blockchain operation as a part of cybersecurity enterprise.

Department of the homeland security and government-backed national science foundation will spend millions of dollars in this area.

 

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What Are Some Amazing Facts About Bitcoin?

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Amazing Facts About Bitcoin

The majority of people nowadays already have an idea as to what is Bitcoin and how does it work. But no matter how much you know about this cryptocurrency, there is always something to leave you amazed. Here are the bitcoin facts.

In this article, here are some interesting Bitcoin facts for you.

Bitcoin amazing Facts:

Independent of Third Party Influence:

Bitcoin is an open-source software. Anyone – whether it’s the owner or just a random internet user – can access it. Also, there is no regulatory authority such as a central bank, government or private organizations to control the flow of Bitcoin which makes it inexpensive to use.

Nobody Knows Who Invented Bitcoin:

It has been nearly a decade since the Bitcoin first came into circulation. However, the identity of creator still remains a mystery. Several investigations and search works have been conducted but to no avail.

Some say a programmer named Satoshi Nakamoto invented it but there is no proof to support that claim.

Bitcoin Transactions Are Untraceable:

One of the unique features of Bitcoin is that the transactions are untraceable. Whether a user is trading coins across the street or sending them to the far edge of the globe, all he has to put forward is a wallet ID. The personal information is not required. As a result of this, the transactions become anonymous and downright untraceable.

If You Lose Your Coins, Consider Them Gone for Good:

Bitcoins are stored in a digital wallet and protected by a private key. So, if a user loses the drive on which the wallet was stored, consider your coins gone for good.

Bitcoins Are Accepted as A Method of Payment All Across the World:

Numerous banks, corporations, and retail stores accept Bitcoin as a payment and the number is increasing each day. Using this currency, you can buy comics, fancy clothes, yachts, property, travel around the world and order a delicious pizza.

Amazing, isn’t it?

The First Ever Purchase Made Via Bitcoin Was for A Pizza:

One of the most interesting facts about bitcoins is that the first ever purchase made through this currency was a pizza.

In May 2010, the currency was relatively new and was still pretty far from gaining worldwide recognition. Due to this fact, the value of bitcoin was extremely low – let’s say, two Papa Johns Pizzas for two Papa Johns Pizzas.

Yes, this was exactly the case when Laszlo Hanyecz offered two Papa Johns Pizzas for 10,000 bitcoins, which was then equivalent to $41 or $0.0041 per coin.

However, the circumstances have changed and those 10,000 bitcoins are worth $7.6 million in today’s market.

These are some interesting facts about the ever-incredible currency that is Bitcoin. In conclusion, the characteristics of cryptocurrency are nothing short of incredible! The future belongs to Bitcoin! So make your move and take a dive into the world of Bitcoin; right now!

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