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28 June 2017, well-known investor Michael Novogratz states that 10% of his money is in bitcoin and Ether platform. His prediction about the digital currencies value is up to $5 trillion in five years. It is depending on the adoption stamina of an industry.

Now, we are at the departure position because Nasdaq got $5.4 trillion in 1999 and poured it into space. pay your taxes on your own because nobody pays such taxes in that space. This system is establishing because of the revolutionary

Spirit.

Meanwhile, companies get furious to obtain this value. For that purpose, companies need to develop their business and start working on new project which has the ability to satisfy the regulators. But, at this time bitcoin is not in the position to correct street by the black market as well as hackers.

A few days ago, digital currency took reputational collapse because of the cyber-attack.

With 140% gained during a year, Bitcoin is the prime cryptocurrency with $2547 trading value. Whereas, ether’s value is $240 this year.

Accordingly, market cap data, ether’s market cap is $28,589,831,650 while bitcoin reaches to $41,973,033,307.

Novogratz enjoying the profit gained from these digital currencies. He wants to invest more than 10% of his money in the digital platform.

Goodluck!

 

 

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Find It Hard to Understand Bitcoin? Here Is Everything You Need to Know

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Everything You Need to Know About Bitcoin

Bitcoin is the most widely used form of digital currency in the world. It is a kind of currency that is controlled and put away altogether by high-tech PCs spread over the Internet. More individuals and organizations are starting to use this currency.

Unlike a plain U.S. dollar or Euro, bitcoin is a type of payment system, much like Paypal. (Learn how to buy Bitcoin from PayPal in two minutes)

You can hold on to it, spend it or exchange it. It can be moved around as efficiently and effortlessly as sending an email.

For those seeking information on how to make online transactions anonymously, Bitcoin is the perfect answer. Bitcoin allows its users complete anonymity to make transactions and leaves behind no traces of personal information.

Down below, we have discussed some important points as to how Bitcoin makes a complete sense and whether it can be used as an alternative to the traditional currency.

Important Points to Understand Bitcoin:

  • Bitcoin transactions are stored in public ledger called Blockchain. These transactions are recorded online and anyone with the access to Blockchain can view them. Thus, making the process more transparent. The transparency also drives new interest to the economy and results in the downfall of illegal use of the currency, such as drug ring.
  • Saying that understanding Bitcoin is more than just a currency makes perfect sense. Unlike traditional currency, it can be transferred from one country to another without any legal obligations. It dissolves the global barriers and frees currency from the control of federal governments. However, the value of Bitcoin is still dependent on the U.S. dollar.
  • Bitcoin is an open source software and the technology used in Bitcoin is quite interesting. The currency works under the laws of mathematics and is overseen by a group of highly skilled professionals. The software can run on thousands of machines simultaneously, operating in different parts of world – making it one of the unique programs out there.
  • Bitcoin was created and released onto the internet 8 years ago by an anonymous programmer called “Satoshi Nakamoto”. The software is designed to run on multiple machines – called bitcoin miner – simultaneously. These machines can be accessed and operated by anyone on the planet with the basic understanding of a PC.
  • Bitcoin miners are used to generate new coins and are designed to mine no more than 21 million coins before the year 2140. These machines enable the coins to slowly expand and encourage the Bitcoin miners to keep the system growing.
  • When new coins are generated, they are given to the miners. The miners keep track of all the bitcoin transactions and add them to the Blockchain ledger. In exchange, they are rewarded with a few extra bitcoins. The currency reward limit currently stands at 25 bitcoins, which is paid out to the world’s miners about six times per hour. Those rates can change over time.

Wrap Up:

These are some facts that make Bitcoin unique in comparison to other currencies out there. Taking everything into account, bitcoin pushes the limits of innovation. Much like PayPal in its outset. However, the marketplace will have to decide if the risks related to Bitcoin and payment system make good sense in a longer run.

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Who Are The Top 5 Bitcoin Millionaires?

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Who Are The Top 5 Bitcoin Millionaires

Bitcoin is the king of cryptocurrency and one of the most valuable entities in the financial world. The currency is truly taking a place among economies worldwide. This has led everyone wanting to know about the tycoons of the industry.

By tycoons, we mean the people that have reached the millionaire club in the bitcoin world. They did not do it overnight, it took them years of planning, investment, trading, purchasing, and mining the cryptocurrency.

The actual number of bitcoin millionaires is unknown. This is because the crypto is stored in virtual wallets. While these wallets and the amount contained within is public knowledge, the people who own them are protected. Besides, a single bitcoin user can own multiple wallets, so it is impossible to determine the actual number of users of Bitcoin.

List of Top Bitcoin Millionaires:

Here are the top 5 Bitcoin Millionaires.

Jared Kenna:

Who Are The Top Bitcoin Millionaires

The first ever purchase of Jared Kenna was a batch of $0.20 apiece. He later sold them for $258 apiece. Smart move! In 2010, he also lost $200k in Bitcoin but that did not stand in the way of him to continue his Bitcoin adventure. Jared Kenna is considered to be the richest but he refuses to disclose his real worth.

Winklevoss Twins:

Who Are The Top Bitcoin Millionaires

The Winklevoss twins, who are also Facebook litigants joined the Bitcoin millionaire club long before the crypto was popular. According to the New York times, the twins have racked up around 11 million from their investments and are one of the top Bitcoin investors out there.

Charlie Shrem:

Who Are The Top Bitcoin Millionaires

Charlie Shrem came across Bitcoin in 2011. His first purchase was a batch that cost $3-4 apiece. He later went on to buy a thousand more when they hit $20 apiece. Charlie Shrem also owns a company ‘BitInstant’ that allows people to buy Bitcoin in a physical store.

Roger Ver:

Who Are The Top Bitcoin Millionaires

Ver started investing in bitcoin in 2011. His first ever investment was in Charlie Shrem’s BitInstant. The investment enabled the company to hire their first programmer and a designer. The other significant investments of Roger Ver are:

  • Ripple
  • info
  • Kraken

Yifu Guo:

Who Are The Top Bitcoin Millionaires

Yifu Guo made his first bitcoin investment when he was a student at the New York University. Then he went on to form Avalon – a company which is responsible for building necessary gear required for bitcoin mining. Guo’s goal is to raise awareness among the common folk about bitcoin and ensure network availability over the long period of time.

Final Word:

These are some top millionaires of Bitcoin world. There are more, but mentioning them all is out of bounds. This is because some choose not to disclose their identity while the others – their assets. So, it’s extremely hard to compile a full fledge list.

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How to Buy Bitcoins With PayPal Through Wirex/E-Coin?

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E-coin is a bitcoin trading platform that provides virtual and physical Bitcoin debit cards. You can use your E-coin card with your PayPal account.

Following are the steps you must go through in order to complete the purchase.

Step 1: Order an E-coin Virtual Debit Card:

Log onto e-coin, click on “request new card” and select the type of card you want.

A virtual card costs around $3 and is enough for this process.

Buying Bitcoins with PayPal through Wirex

Step 2: Link Your E-Coin Virtual Debit Card to PayPal:

Log into your PayPal account, go to “Money” and click on “Add a card.”

Buying Bitcoins with PayPal through Wirex

Fill in the details (Name, email address etc.). Once you’re done, click “Add card” to move on to the next step.

(Tutorial: how to buy bitcoin with PayPal through the Wirex/E-coin platform)

Buying Bitcoins with PayPal through Wirex

PayPal will ask you to verify the new card. Click “Confirm my card, ” and PayPal will begin a series of transactions to verify your card. PayPal will charge you a fee, so make sure you have a balance of at least $3 on it.

Step 3: Enter PayPal Code:

Buying Bitcoins with PayPal through Wirex

Go to your Wirex/E-coin account where under the “Card Transactions,” you will see a 4-digit code from PayPal; note it down.

Buying Bitcoins with PayPal through Wirex

Insert this 4-digit code into your PayPal account and voila! Now your E-coin card is linked to your PayPal account.

 

Step 4: Withdraw Funds From PayPal to Your E-coin Card:

Click “Withdraw money” on your PayPal account.

Buying Bitcoins with PayPal through Wirex

Then, select “Withdraw funds to your card.”

Buying Bitcoins with PayPal through Wirex

Enter the amount you’d like to withdraw, select your E-coin card and click “Continue.”

Buying Bitcoins with PayPal through Wirex

Your request is now in process, and the funds will be deposited onto your E-Coin card in around 5 to 7 working days.

Buying Bitcoins with PayPal through Wirex

 

Step 5: Buying Bitcoins Using E-Coin Card:

After withdrawing funds from your PayPal account onto your e-coin card, you can now buy bitcoins.

Log onto your account and select “Buy Bitcoin.”

Buying Bitcoins with PayPal through Wirex

In the same manner you buy bitcoin instantly with debit card,  you can buy bitcoins with E-Coin card. Enter the number of bitcoins you want to buy – the funds will be deducted from your card. After the deduction, click “Submit.”

Confirm the Bitcoin purchase by clicking on “Confirm.”

Buying Bitcoins with PayPal through Wirex

You will receive an email confirming your successful transaction.

Buying Bitcoins with PayPal through Wirex

This infographic gives a graphical representation of steps involved in the Bitcoin transaction.

Buying Bitcoins with PayPal through Wirex

 

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Bitcoin’s Price Volatility – How analysts are seeing it?

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After a series of ups and downs, bitcoin’s price went to its top. However, it plunged to less than half of that value later. The unexpected changes are now compared to the dot-com bubble and are highlighting the speculative nature of investing in cryptocurrency.

The price of bitcoin fell below $10,000 for the first, on December 1. At one point, it fell below $9,300 on one exchange. The price later rose back to almost $12,000, however, the investors and economists are still not sure how long the price will stay there. It is also said that the recent skim was due to the fear of crackdowns in the cryptocurrency markets.

bitcoin price volatility

South Korea has suggested a ban on the trading of cryptocurrency, although no plans are settled yet. Also, same news has been reported about China.

Bitcoin is a decentralized digital currency, as it is the largest and well-popular digital currency, that is globally bought and sold in exchanges.

According to Timothy Lee (senior reporter at Ars Technica), it is not based on dollars. The value of bitcoin floats against other cryptocurrencies, in the same way the euro and dollar glide against each other. Users say that bitcoin has got a very effective system for authenticating transactions, as it is based on a revolutionary technology.

Bitcoin users also point out that the currency is not tied to government’s whims and according to them, it’s a good thing. Recently the price dropped, and that may not be a good thing for those investors who are trying to figure out what crash actually means for the cryptocurrency’s future.

bitcoin price volatility

Recently many cryptocurrencies have shown the same swipes. According to David Kotok (Cumberland Advisors chairman and chief investment officer), almost 20 years ago, the technology and the new internet stocks accomplished valuation of $7 trillion, just because of speculation. The prices of shares used to be very high and after they collapsed, investors got badly miffed. And apparently, the same thing is going to happen with these cryptocurrencies.

Same rise and fall in the price of bitcoin was seen by the investors in December.  After China announced that it was banning all the banks that were trading cryptocurrencies, bitcoin fell by 40 percent just within days after hitting a record price of almost $1,150.

There’ve been dramatic ups and downs in cryptocurrency’s price last year. Bitcoin had the value around $900 at the beginning of 2017, however, its value got tripled within few months. According to Kotok, cryptocurrencies are highly speculative and investing money in cryptocurrencies is a speculative thing to do.  There’s a chance that you may make a profit, but Kotok has seen many people who invested their money into bitcoin and now they’re having loads of trouble in getting their cash back when they try to sell it.

According to some analysts, the cryptocurrency is trying to find an impermanent price floor, but according to a CNBC report, Citigroup analysts think that the price of bitcoin would plunge again to half of its current value. According to Ars Technica’s Lee, it’s still going to be unpredictable. She thinks it’ll go more up and then it’ll crash again. So, no one knows how far down it’ll decline.

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Bitcoin Value Drops Back Down to Below $4000

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While Bitcoin had experienced a decent climb since the fork took place. It experienced a $150 drop on August 22, where it is now being traded at $3894.

Everyone has observed this rally quite extensively and some traders have started to believe that this rally might even be reaching its peak.

Organizer of the trading group Whale Club, BTC VIX, commented that he is slowly losing confidence in the rally. Since the price has dipped four times since crossing that $4000 mark, he thinks it’s a sign that the market doesn’t want to push the price higher.

On the other hand, market spectators predict that bitcoin might stabilize around the $4000 mark.  We are unaware of whether it’d rise back up or drop down lower. We do know that the next big date that’s marker on our calendars is Segwit2x in November.

 

News credits: coindesk.com

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