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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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What’s the Big Deal about Bitcoin Cash?

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Early morning on August 1, Bitcoin’s blockchain split – A separate cryptocurrency was created called Bitcoin Cash

The purpose of a fork is that instead of creating an entirely new cryptocurrency that restarts at block 0, it just creates a replica version that shares the same history. This means that all the previous transactions on bitcoin cash’s blockchain are identical to bitcoin core’s blockchain. However, the future transactions and balances are to be completely independent of each other. Basically, everyone who owned bitcoin before the fork now has an equal amount of bitcoin cash as well.

First things first, if you seem to be in control of your own private keys or store your bitcoin in an exchange that credit users’ balance about bitcoin cash, you’re good to go and can access your new cryptocurrency instantly. However, if your coins are withheld in Coinbase, which said that they won’t be distributing bitcoin cash anytime soon, then you may be unfortunate.

This doesn’t mean Coinbase will be keeping your bitcoin cash but just that they believe it to be unimportant and that it won’t be worth anything in the long run. Although, this is susceptible to change if this is proven to be false.


What’s  Bitcoin Cash?

There are thousands of cryptocurrencies present on the market. Some claim to be better and different than bitcoin, while others are just replicas. Bitcoin cash is just another altered digital currency.

To begin with, it was only created prior to the forking of bitcoin View Postcore, but this isn’t rare. Many other cryptocurrencies have also forked from bitcoin before, but none have been as successful as bitcoin cash is at the moment. One of the reasons behind its popularity is the fact that people now have an equal amount of bitcoin cash present and they are referring to it as “free money.” Also, this hard fork was set to coincide with bitcoin core activating a change in its code called BIP 148, which is a Bitcoin Improvement Proposal. After months of negotiation, Segregated Witness was activated which is meant to help bitcoin core scale during transactions.

Related: What is Bitcoin Cash & How to Get it?

What’s it worth?    

At the moment, bitcoin cash is trading for $655.99 per coin, which is pretty great since it’s so new. It is the fourth-largest cryptocurrency by market cap right now.  However, it’s really hard to sell bitcoin cash since most exchanges aren’t accepting deposits yet. Bitcoin users holding bitcoin cash in exchanges that are not supporting trading or outside exchanges are stuck.

Tags: bitcoin news today

So, what’s next?

Most people are just waiting it out for when bitcoin cash is ready to be sold. If this happens, the price will drop or users might begin to like it and it gains value. The point is, no one can really predict what exactly is about to happen next. We survived the split, just have to make through the after-effects

Related: Bitcoin crosses $52 billion market cap

Image Credits: twitter.com/coinbase, coinmarketcap.com

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Bitcoin Future — What Will Happen When There’ll Be No Bitcoin to Mine?

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In the month of April 2018, 17 millionth Bitcoin was mined. But why this number is significant? Well, only four million tokens are left to mine. Bitcoin’s blockchain protocol is what makes Bitcoin mining a bit difficult, and the Bitcoin reward for mining a block also splits every 210,000 blocks. As seen, 12.5 BTC reward is received by the miners for unlocking a new block.

future of bitcoin mining

Mining of the Last Bitcoin

At this time, miners are deeply encouraged to mine so that they can get gradually more treasured Bitcoin tokens as a reward — before the supply reaches the capacity. However, when 21 million market cap is hit, there won’t be any Bitcoin rewards for miners. Though, transactions will be still required to get validated and stored on blocks, so that miners can profit from the transaction fees.

Segwit

  • Last year, the issue of scalability – block capacity – transaction costs showed up.
  • 1MB size limit for blocks was implemented by Nakamoto for halting miners making bigger blocks that were expected to be excluded from the network, as it could cause the blockchain to split.
  • At that time, the limit was big enough because of the small number of transactions. However, apprehensions that elevated were ultimately comprehended as Bitcoin advanced in popularity.
  • Ultimately, Bitcoin Core developers came up with a solution under the name “Segregated Witness,” which is more commonly known as SegWit.
  • Fundamentally, Segwit splits non-signature data from signature data of all transactions — significantly reduces transaction sizes that are stored on a block.
  • Moreover, it cancels out transaction flexibility by eliminating signatures from transaction data, paving the way for ‘Lightning Network’ incorporation.

Eventually, Segwit was implemented in August 2017, as a foremost stakeholder from the major Bitcoin mining pools and Bitcoin companies – for a solution to high transactions fees instigated by an accumulation due to the block size limits.

Core warning — the implementation of Segwit was possible because of the consent of the Bitcoin community. Even though there were huge concerns such as the inadequacies of Segwit2X, the community was divided up and the change was certainly not implemented.

  • Since August 2017, the implementation of Segwit has been slow across the global network. However, Bitfinex and Coinbase only presented the alteration in February 2018.
  • The launch matched with reducing the transaction fees – a testament to the envisioned outcome of Segwit incorporation.

future of bitcoin mining
Lightning Network

  • SegWit’s implementation laid the foundation for second layer solutions as well, in order to improve the network of Bitcoin.
  • The most projected one is the Lightning Network – it will do the same as the SegWit – though on a grander scale.
  • In terms of layman, the Lightning Network lets users excavate many payment channels amid themselves – off the Bitcoin blockchain.
  • The channel is going to be opened and recorded on the blockchain, though transactions will be made “off chain” till the payment channel is closed.
  • Basically, Bitcoin is deposited in this channel by users, so that they could make transactions by transferring potential of possession to each other.
  • When they plan to close the channel, users take their part of the total sum – the ownership of those sums is recorded on the blockchain.

This second layer solution matters a lot, as it will significantly upsurge the speed of transactions and the whole network. But if we talk about the future of bitcoin mining, this does stance few interesting questions for miners in the upcoming time. Once all 21 million Bitcoin have been mined – transaction fees would be the one and only incentive for miners. If the Lightning Network is completely integrated by that time, there’d be quite fewer transactions being recorded per-day. This could at the same time affect the amount of money that miners will be getting from transactions. Though, if we look 100 years from now, it is expected that all of these issues will have been solved by the wider crypto-community and Bitcoin Core developers.

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What Are Some Top Coins That Can Be Used as An Alternative to Bitcoin?

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An Alternative to Bitcoin

We all know that Bitcoin is the king of digital currencies, and there doesn’t seem to be any other coin that can dethrone it from the top.

Although not similar, many digital currencies can still be used as a perfect alternative to Bitcoin. Some even claim to be technically superior to Bitcoin. Whether it’s true or not is completely another debate. In this article, we have discussed the top five digital currencies that are closest to what Bitcoin offers and can be used as an alternative to the king of cryptocurrency.

Top Alternatives to Bitcoin – Ethereum:

Bitcoin vs Ethereum is the closest battle when it comes to currencies trying to overtake Bitcoin.

Ethereum is a public blockchain software which promises to offer much more than just digital currency. The developers can code the software and power it through the public blockchain.

The users can then sell their processing power and get paid in “ether” – the second largest cryptocurrency by market capitalization after Bitcoin.

Ethereum has a market cap of $1bn USD.

Ripple:

Emerged in 2012, Ripple has become one of the most popular digital currencies to make online transactions anonymously. The paramount aspect of ripple is that it offers instant conversion into several other currencies.

Ripple considers itself a companion of Bitcoin and converts Bitcoin to Ripple and vice versa.

The market cap of ripple is $220m USD, making it the third largest cryptocurrency in the world.

Litecoin:

Litecoin emerged in 2011 and is one of the oldest cryptocurrencies out there. Given below are some highlights of Litecoin:

  • Similar to Bitcoin, Litecoin is decentralized.
  • Litecoin is also generated through solving algorithms, which become more and more difficult over time.
  • A Litecoin block takes just 2.5 minutes, which is much quicker than Bitcoin – where it takes around 10 minutes to generate one block.
  • Due to quick generation, Litecoin supports far more transactions than Bitcoin.
  • The overall cap limit of Litecoin is set at 84 million, which is relatively higher than that of Bitcoin’s (21 million).

The current market cap of Litecoin is about $175 million – making it the 4th largest cryptocurrency in the digital world.

Steem:

With $170 USD market cap, Steem is the 5th largest digital currency. “Steemit” is the largest platform that offers the opportunity to earn Steem. The platform is filled with a huge range of stories.

Since there is no mining process, you can only earn Steem by contributing to “Steemit”, either by writing articles or rating/commenting on other’s articles.

Dash:

The last one on our list is Dash, which, in terms of features is pretty close to Bitcoin software. Here are some unique features of Dash:

  • Advanced privacy. Some even say its privacy features surpass the ones offered by Bitcoin.
  • Whereas Bitcoin transactions can take several minutes, Dash transactions are quick and instant.
  • Low transaction fees.
  • Similar to Bitcoin, Dash is P2P and decentralized

Conclusion:

Although the competition is tough, Bitcoin is leading the race by a fair margin and isn’t going away anytime soon. However, the other currencies are also there to stay and compete, which will surely play a significant role in the evolution of digital currency environment in near future.

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What Is Bitcoin Wallet and What Are the Main Types of It?

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What Is Bitcoin Wallet

Bitcoin is a peer to peer currency which does not have any physical form. In other words, it’s a virtual currency. The currency is stored in Bitcoin wallets.

There are several forms of Bitcoin wallets – most common ones being desktop wallets, mobile wallets, online wallets and hardware wallets.

The goal of this article is to provide you with the necessary information about all these forms of wallets. So let’s get started with knowing what is a Bitcoin wallet are and what are the different types of it.

Desktop Wallets:

Desktop wallets are compatible with different desktop applications and each of them offers different features. For example, Hive is an OS X-based wallet which includes app store that connects directly to Bitcoin services.

Another example of desktop wallets is Bitcoin Core which relays transactions on the network and enables you to create a Bitcoin address for sending/receiving virtual currency.

Some desktop wallets are particularly designed to gain enhanced security. Armory is a prime example of such wallets.

Mobile Wallets:

Desktop wallets are handy, but only when you are at home. If you are out on the street, they are of no use. And this is the reason as to why these wallets are falling out of favor.

On the other hand, mobile wallets are more useful as everything regarding your bitcoins is just one tap away.

It doesn’t matter where you are, whether it’s a physical store, park or just a random street, if you have access to the internet, you can access your Bitcoin wallet and make transactions on the go. Some of the common bitcoin mobile wallets are Xapo, Mycelium, and Blockchain.

These wallets keep your bitcoin keys encrypted on the phone and also back it up on a web-based server.

Online Wallets:

Online wallets store user’s private key online and link it to mobile/desktop wallets. One of the biggest advantages of online wallets is that they can be accessed from anywhere regardless of which device you are using.

However, there is one major drawback: If a user fails to implement them correctly, it will put the organization running the website in charge of his private key which eventually takes his bitcoins out of his control. That could be a risky move, especially if you collect a lot of bitcoins.

Some examples of the best Bitcoin wallets online are:

Coinbase:

Coinbase operates worldwide. Users in the United States and Europe can also buy bitcoins through Coinbase exchanges.

learn more about how to buy Bitcoin with Coinsbase.

Circle:

Circle offers the feature to send, receive, store and buy bitcoins.

Strongcoin:

This service offers hybrid wallet which lets the users encrypt their private keys before sending them to its servers.

And Hardware Wallets:

Hardware wallets are dedicated devices that are used to facilitate payment and store private keys. Some examples of these wallets are Trezor Hardware Wallet and Ledger USB Wallets. These wallets are easy to carry in your pocket and can be physically moved from one place to another.

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Earn Bitcoins easily with BitMaker

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Earn Bitcoins easily with BitMaker

What if you could earn bitcoins every 30 minutes with the least amount of effort? That is the point of BitMaker. It’s a form of advertising where the viewer of the ad also gets paid in the process.

BitMaker is a Bitcoin-powered mobile application developed by Seattle-based blockchain adtech and payments company CakeCodes.

Get Started!

First of all, you need to download the BitMaker app from Google Play Store. Then sign up and create an account along with a Bitcoin wallet, in case you don’t already have one.

BitMaker sends bitcoins directly to your wallet. You must update your wallet address each time you receive a bitcoin payment.

 

How does it work?

Users just have to try out other mobile applications or fill out forms of free trials for various products and services. Users are rewarded with in-app tokens called “Blocks”. These blocks can be converted to bitcoin or ether once it reaches a certain threshold.

When you open the app, you’ll be presented with a percentage that will slowly increase. When it reaches 100%, you earn 500 Satoshi. Since you get paid this amount every 30 minutes, you earn 24,000 Satoshi every day.

As you can see in the above screenshot, there is a timer. The counter begins at 30:00 and when it reaches 00:00, an ad is displayed after which you get paid.

Fortunately, the app has both “day” and “night” modes. In the day mode, the ad has an audio whereas at night they’re just silent videos.

 

How does BitMaker pay you?

If you keep earning enough Satoshi and meet the withdrawal threshold, BitMaker will pay you every Saturday. Withdrawing your rewards is very easy, all you need to do is update your Bitcoin Wallet address then click on “Withdraw”. You will get your rewards deposited to your Bitcoin Wallet the following Saturday.

The weekly reward for Satoshi changes every week since they are in line with the Bitcoin trade prices. You can earn more Satoshi by completing offers which offer more number of free bitcoins.

 

BitMaker Now

Since its launch in September 2014, BitMaker now reports it surpasses 250,000 active monthly users across 187 countries.

According to the BitMaker website, the app has paid out over 215 bitcoins and 34 ethers up to this point. This amounts to over $275,000 worth of payouts at current exchange rates.

On April 30th, CakeCodes is launching an equity crowdfunding campaign for BitMaker on Wefunder.  CakeCodes intends to use the money from the Wefunder campaign to increase user growth, fast track development for an iOS app and add new features to the existing Android app.

“Nearly $600 billion is spent on global advertising, and yet many ads are simply ineffective,” said Simon Yu, CEO of CakeCodes. “Advertisements are everywhere and people automatically tune them out. We wanted to combat this by giving consumers the option to opt in and get paid for their time used on trying a new product. With Bitmaker, end-users get paid, businesses only pay upon engagement, and customer acquisition costs are dramatically decreased. Everyone wins. What we’ve done is create a simple, fun way for consumers to be rewarded for trying cool new products.”

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