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Bitcoin news today: In an interview in 2014, financial specialist Tim Draper anticipated the bitcoin cost to surpass $10,000 in three years. At the time of writing, the bitcoin cost is at $9839.22 and is in transit of achieving $10,000 before the finish of 2017.

Since 2014, Draper has been a standout amongst the most dynamic investors in the cryptographic money. During the previous three years, Draper has supported both local and global bitcoin organizations, including a $1.6 billion bitcoin brokerage and wallet platform CoinBase, and $160 million South Korean crypto exchange Korbit.

Three years ago, after taking part in different auctions to buy groups of a huge number of bitcoin, Tim Draper Bitcoin concentrated on building the important framework for the bitcoin market to thrive and develop at an exponential rate. His interest in organizations like CoinBase and Korbit played a key factor in the quick development of the US and South Korean bitcoin markets, the second and third biggest bitcoin markets behind Japan.

Apart from the $120 million benefit which he secured from his bitcoin investment of 30,000 BTC in 2014, Draper has been a standout amongst the investors in the bitcoin and digital money division in the course of recent years, finding monstrous success in both direct bitcoin investment and venture capital funding of bitcoin startups.

Draper firmly believes in bitcoin becoming the global currency by replacing the fiat in next few years. As he said in 2014:

“I’m extremely excited for bitcoin and what it can do to improve the world. Bitcoin is similar to traditional currency what internet was for information and communication. Everyone should go out and purchase a bitcoin. Everyone should at least be partially involved in bitcoin because of the fact that it’s a support against the various monetary standards. There’s an entire system being assembled that will make business significantly less demanding with considerably less friction and more secure.”

Bitcoin In 2018:

All through 2017, the market valuation of bitcoin expanded from $10 billion to $160 billion only through the general buyers and easygoing investors. Billions of dollars in institutional cash from flexible investments like Man Group and Fidelity will trigger another surge in the cost of bitcoin for the time being.

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Why Is Bitcoin Gaining Worldwide Popularity?

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Bitcoin Gaining Worldwide Popularity

Bitcoin is a digital currency that first came in markets in 2009. The start was slow, but the whole business world moving to the internet has helped it gain worldwide recognition at a rapid speed. There are numerous reasons behind its growing popularity and all of them cannot be compiled in one post. Some of the primary reasons as to why Bitcoin is suddenly gaining worldwide recognition are discussed below.

Reasons Behind Bitcoin’s Popularity:

Bitcoin Is Stored on Virtual Wallet:

The bitcoin wallet serves the same purpose as a bank account for the traditional money. Once a user has successfully mined coins, they are stored in a virtual wallet – also known as Bitcoin wallet address. Each user is allocated a wallet to store coins. The wallet is then used to send or receive coins.

Bitcoins Are Becoming Mainstream:

During its early days, Bitcoin worldwide popularity was considered to be some kind of internet oddity. But this not the case anymore.

With several leading banks, business corporations and retail stores accepting it as a method of payment; the trend amongst the general public is shifting and the number of people buying/selling their favorite items is increasing each day.

Bitcoin Is Immune to Counterfeiting:

The currency is autonomous to third party influence and is created purely through cryptographic techniques. The code used in Bitcoin generation is impossible to replicate, which ultimately makes it immune to counterfeiting.

In addition to cryptographic features, gain Bitcoin gives its user complete anonymity. The anonymity, as a result, gives the users the freedom to transfer coins across the internet without regulators, censor or nosey authorities.

A network of Miners:

The backbone of this entire system is the network of miners. A miner is a high-end computer user who supplies the Bitcoin network with the processing power. The power is then used to maintain a tally of all transactions.

Maintaining a transparent tally is essential as it helps prevent fraud. The miners, in return, are awarded brand new bitcoins for their services.

Acceptance as A Form of Payment on Global Scale:

Bitcoin has often caused an argument over the reliability of its design. For years, the Cryptographers argued whether the digital currency is well-designed and can it be used to buy anything?

Luckily, Bitcoin is erasing all the doubts over its authenticity. Now you can buy a car, real estate, toys for your kids, yacht, and nearly everything using bitcoins.

Running a small/large business? Learn how to accept Bitcoin payments here.

Trades Through Bitcoin Are the Easiest and Cheapest:

Another reason as to why Bitcoin is gaining worldwide recognition is its simple and easy transfer. Whether you want to send coins to a friend next door or someone living in distant parts of the globe, all it takes is a few minutes to complete the transaction. And since the currency does not need to go through any clearing house (government, The central bank, Visa card, master card, etc.) the transactions are cheaper than those of traditional currency.

These are some of the reasons as to why Bitcoin is gaining popularity throughout the world. In conclusion, the currency is easy and cheaper in terms of making transactions, cannot be counterfeited and is accepted on a worldwide scale. Considering all these factors, Bitcoin is only going to hit the new heights in the future.

Read our guide on what are the best Bitcoin exchanges to safely transact the coins.

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What is driving Bitcoin’s price up?

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What is driving Bitcoin’s price up?

Bitcoin’s price has been soaring sky high the past few months. It takes everyone by surprise how well the cryptocurrency has been doing.

On April 24th, Erik Voorhees had made a prediction of $300 billion market capitalization on Twitter: “Tokens as an asset class have surpassed $30 billion. I predict over $300 billion within 4 years.”

So, what could be the factors contributing to driving Bitcoin up to new heights?

Through estimates and statistics, it still shows that 85% of the Global Bitcoin trading comes from China. Remaining countries have had a lesser impact. Obviously, due to a large amount of data flowing in from all sides, it’s hard to keep track of the accuracy of everything.

Economists, market analysts and financial experts, like CFA Prableen Bajpaiare, report current fears in China and Asia that the yuan could deflate due to the increased investments in bitcoin.

Other analysts have agreed to this as well: “Signs indicate Bitcoin’s price has become linked to a number of macroeconomic factors in China,” said Vijay Michalik, a research analyst for digital transformation at consultancy Frost & Sullivan.

“It highlights growing concerns about yuan currency deflation, as bitcoin’s appeal has grown as an alternative asset class for a population deprived of many investment choices.”

“The most likely explanation appears to be linked to market confidence in the Asia region, with low confidence in local currencies providing a major boost to bitcoin demand,” said James Lynn, U.K. managing director at investment company Billon Group, in a 2016 CNBC interview.

There has also been a big devaluation of currencies in other emerging markets such as India and Russia. For example, the Indian Rupee had gone down by 20 percent in 2017 compared to the US Dollar.

Even if the USD is rising compared to other currencies, people around the world are still looking for alternatives to it and Bitcoin has seemed to won that competition.

Russia

In 2016, Russians were exchanging their depreciating rubles to bitcoins by a large number. Due to tumbling of the ruble, the Russian Ministry of Finance came up with statements regarding money laundering and the possibility of taxing and regulating Bitcoin as an asset. Deputy Finance Minister Alexey Moiseev told Bloomberg in an interview in April 2017. He also added that “The state needs to know who at every moment of time stands on both sides of the financial chain”.

Blockchain companies funding

Bitcoin start-ups that attracted large investments in Bitcoin and blockchain companies, with total funding of $550 million are now increasing the demand for bitcoin in 2017. This had a huge impact on the Bitcoin’s value, causing it to shoot up.

Back to China

Due to the deflation of the yuan currency, Bitcoin value has been very appealing to Monetary policies, Chinese companies, and rich individuals. Also, several big investors are being tempted by Bitcoin. They are all demanding for Bitcoin in China since it is much more stable right now.

Japan, important growth

Things have started to get very interesting in Japan as well. In the last 6 months, what happened to be just 0.91 percent of the total bitcoin trading volume has surprisingly risen to 6 percent in just 30 days. Based on unofficial estimates and data provided by coinmarketcap.com and data.bitcoinity.org. There has been a sudden increase in the demand of Bitcoin in Japan.

What is driving Bitcoin’s price up

Can anything wreck the path Bitcoin is on?

Anything, such as the increase in the price of gold would cause a drop in the value of bitcoin, but this won’t be happening anytime soon. Gold is down 4.58 percent in the last 30 days, which is in favor of Bitcoin.

Also, the altcoins have been grabbing a lot of attention the past few months, but they’re still risky and unstable investments. Whereas, Bitcoin is in a much better shape than most and will be reaching new heights in the near future.

Tags: Bitcoin’s driving price

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Bitcoin who’s who

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A number of individuals are directly involved in the acceptance of the Bitcoin around the world. There is a compiled list of folks, who make sure that Bitcoin is the future of the digital world. They admitted and make investments in the bitcoin.

  1. Satoshi Nakamoto (Father of the bitcoin)

A person anonymously created a worldwide cryptocurrency, and still, it is a mystery that who is Satoshi Nakamoto. A white paper introducing and describing the Bitcoin, published in 2008. Whereas, first Bitcoin software was released in 2009. But at the mid of 2010, Bitcoin software was conferral to the Gavin Andresen. Where the reason behind this act was the contact between Nakamoto and Bitcoin community getting fade. While other domains of the bitcoin were controlled by the other member of the bitcoin community. The rumor about Nakamoto is that he has one million bitcoins, cost over one billion dollars.

According to Bitcoin news, the identity of the real Satoshi Nakamoto is still a mystery. Some think that Satoshi is an individual while other’s think Satoshi Nakamoto is a name of a team.

 

 

Mark Karpelès

Mark Karpelès was basically from France. He was started investment in bitcoin in 2011. When he took the charge of Mt.Gox at 88% from Jed McCaleb. He is one of the founding members of the bitcoin foundation. This foundation was established for the promotion and standardization of the coins.

Unfortunately, in February 2014 Mt. Gox was declared as bankrupt. And, a mark was sentenced to the jail for a year. Whereas Mark declines the claim in front of the public.

Gavin Andresen

One of the successors of the Satoshi Nakamoto. He is the chief scientist of the Bitcoin Foundation. He is the person who holds the alert key which gives him the strength to send an important message to the whole community of bitcoin at once.

 

Roger Ver

Roger Ver is well-known as Bitcoin Jesus. He is an early adopter of this technology and invests millions of dollars into the new startup of the Bitcoin such as blockchain.

Ver is operating an online store to purchase or sell custom discounted transceiver, hardware and memory. In addition, he introduces the different designs module use in mining devices. Which became the mainstream business later.

Ver starts an online store and sells thousands of the product with bitcoin. This was another attempt to introduce bitcoin among the people. And, today there is a number of online and land-base store accept bitcoin as a payment.

Erik Voorhees

Erik is the advocate for bitcoin and move from place to place both in the US and out. Erik keeps all of his money in bitcoin and believer of separation of money and state.

Erik is the Coinapult’s founder. Coinapult is a company who transfer bitcoin through email and text messages process. In 2012, he founded a bitcoin gambling site named SatoshiDice, later this site for over 100,000 bitcoins. In addition, at that time site’s market value was $11.5 million. This was the bitcoin’s big achievement of that time. Whereas, he performed his duties as the director of the marketing at BitInstant.

 

 

Vinny Lingham

Vinny is the early adopter of the bitcoin, CEO, and founder of the Gift, Yola Inc, Silicon Cape.com and NGOs in South Africa. He also served his duties on the board of ChessCube, Yahoo, Personera and SkyRove. And, he was appointed to the board of the Bitcoin in 2014.

 

Ivan Montik

Ivan is the CEO and founder of Casino software provider SoftSwiss. In 2013, Ivan made bitcoin payments into the software and have seen an achievement in creating bitcoin casino.     

Perianne M. Boring

Perianne is the author of the Boring Bitcoin Report and also the president of the digital commerce. She is the first women within bitcoin who’s who. And, we believe that she will generate wonderful changes in bitcoin strategy plan in few parts of US by using her skills.

 

You can also suggest the bitcoin personality.

For further bitcoin information, check back on our blog to learn more. Goodluck!

 

 

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Online Bitcoin Wallets

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Bitcoin wallets or digital wallets are the wallets that require a web browser in order to run, just like websites out there. It’s safe to say that they are pretty much similar to a website.

Surprisingly, the web wallet options are thin compared to the iPhone or Android options.

Right now, there are two Bitcoin wallets worth using. The most reliable online bitcoin wallet is Green Address.

GreenAddress:

To get a Bitcoin wallet that provided protection against cyber-attacks, GreenAddress is the way to go. GreenAddress takes cyber-attacks seriously and provides your coins protection against these attacks.

GreenAddress is a “multi-signature” Bitcoin online wallet. This implies GreenAddress shares control of your Bitcoin with you. While other online wallets are prone to cyber-attacks, GreenAddress gives genuine two-factor validation keeping your coins protected in your wallet.

Spectro Coin:

SpectroCoin is London-based bitcoin wallet, exchange, debit card and merchant solution provider. It serves customers in more than 150+ nations. Right now, it encourages more than 20 types of deposits and withdrawals including bank exchanges, credit/debit cards, and cash deposits to name a few. It also gives bitcoin wallet addresses to iOS, Android and Windows Phone users.

These two are the safest online bitcoin wallets. Although these wallets provide all sorts of security, the ultimate protection comes down to the wallet owner. The best wallet security is the protection of its private key. As long as the key is unshared, chances of your coins getting stolen are very slim.

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