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Bitcoin Shareholders
Bitcoin’s price has plunged near $10,000 on Tuesday. Companies that have tied their whole wealth to cryptocurrency are also thrashed along with their investors. On Tuesday, Payments Processor Square, which announced the plans to allow for some Bitcoin selling and buying, lost almost $90 million market value. Twitter CEO Jack Dorsey’s company also ended at a regular trading value, $15.1 billion.

 

In the meanwhile, the e-commerce company that allows customers to pay in cryptocurrency, fell by 11%. It ended the day with a loss of almost $200 million and $1.8 billion market capitalization. According to Bloomberg’s report, China is also working on its regulations for app-based and other online cryptocurrency services that are similar to its exchanges.

Square and Overstock aren’t the only companies that experienced these disastrous results. In a past few months, some smaller companies have also announced plans to move into the blockchain space. In some cases, they use the word “blockchain” to get some of the sufficient investor interest for anything even vaguely related to cyrptocurrencies and they’ve also tied themselves to the volatility in cryptocurrency prices.

On Tuesday, shares of Riot Blockchain, once a + firm dubbed Bioptix, shed 17% and Chanticleer, an owner of some Hooters locations, shed 4%.

Eastman Kodak, best known for their cameras, fell 8%. At the end of the month, the company has announced plans to offer a cryptocurrency under the name of KodakCoin, initially sending shares up by 60% on the day of the announcement.

Shares of Long Blockchain (Long Island Iced Tea) shed 2%. On Tuesday, the one-time drink maker declared his plans to merge with a U.K.-based firm, Stater Blockchain, which focuses on developing and organizing globally accessible blockchain technology solutions in the financial markets.

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A Guide on Accepting Bitcoin Donations Through Your Blog/Website

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Accepting Bitcoin Donations

Bitcoin is a relatively new digital currency which is used in making online transactions between two individuals. The currency is considered to be the most efficient and safest form of online payments. (Learn how to pay with Bitcoin online)

Bitcoin can be used as a method of payment on several platforms but is most popular on the gambling websites.

Bitcoin functions not only in the form of payments but you can also make earnings through Bitcoin donations if you run a website/blog.

Nonetheless, when it comes Bitcoin donations, the most frequently asked question is: “How to accept Bitcoin donations” because accepting Bitcoin website donations is becoming more troublesome as the number of individuals shifting to online payment methods keeps on growing each day.

How to Accept Bitcoin Donations?

You can accept Bitcoin donations in the form of your local currency, such as USD, Euro, etc. The donations are similar to those of fiat currency. The only difference is that Bitcoin only exists virtually, while the traditional currency can be directly sent to your bank account or handed to you in person.

Currently, there are only 12 million bitcoins in circulation, most of which are held by the businessmen.

Also, there are plenty of efficient tools that convert traditional payments into Bitcoin. For this, all you require is a Bitcoin extension.

What Are the Methods in Which You Can Accept Bitcoin?

Normally, there are three ways to accept Bitcoin donations. The methods are discussed below briefly.

  1. You can make/accept variable amounts of donations using an image link. The link supports a specific donation and a Bitcoin blog link. Then you will need to place a Bitcoin QR code on your website which will allow users to make donations using their smartphones. To ensure a Bitcoin donation, you must maintain a secure environment.
  1. An alternate option to accept Bitcoin donations on your site is a donation counter. The counter helps your visitors how many donations you have received so far as part of the campaign. The counter can also be used to indicate a time frame and a standard amount of the donations a user might wish to place.
  1. Another way to accept Bitcoin donations is to add payment buttons on your site. A visitor who clicks on the payment button is taken to an interface which can be controlled until the bitcoin payment is received.

Last Word:

Bitcoin donations must take place under a safe environment, so make sure your site is safe while trying to make a Bitcoin transaction. The standard website security requires you to have complete control over all the transactions made through the website.

Bitcoin addresses are vulnerable to security threats. Lack of security could result in a donation being directed to an unwanted party.

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How Is China Stifling Bitcoin and Other Cryptocurrencies? Let’s find out!

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World’s biggest community of Bitcoin miners, China, is cracking down on cryptocurrency. A proactive step has been taken by regulators for shaping the stratospheric increase of Bitcoin. According to President Xi Jinping, there’s been booms and busts in the economy for a decade. As a result, the role of China in the cryptocurrency’s world is going down.

Is it allowed to trade Bitcoin in China?

Bitcoin can be traded only in over-the-counter markets. According to some analysts, it is a slower process that increases the credit risk.

Is China anti-cryptocurrency?

Not really. A bank named “The People’s Bank of China” has run trials of its own prototype cryptocurrency, as it is a prime step to being the very first central bank, that is going to issue digital money.

What is China doing exactly?

Well, China banned initial coin offerings (ICOs), that are equal to initial public offerings for new virtual currencies. Later, it stopped local exchanges from trading cryptocurrencies and also delineated proposals to dampen bitcoin mining. Then it moved to Chinese companies that were listed in abroad skirting to stop its domestic ban on ICOs. Now it’s intended by the officials to block the domestic access to mobile apps and other online platforms that offer such services for cryptocurrencies.

Companies that promote themselves as blockchains, to boost their shares are also being targeted by domestic stock exchanges. It’s a part of an effort by agencies like China’s Ministry of Industry and Information Technology, central bank and the cyberspace administration.

 Bitcoin Value in China

 

What is the reason behind the crackdown in China?

Cleaning risks from financial markets have been government’s statement for almost two years, but there’s been no clear explanation yet. The thriving shadow banking sector is also among the main concerns of the government, although digital currencies also provide a way to move money out of China.

 

Where else are officials clamping down?

South Korean is known as the home of most of the frantic cryptocurrency trading. Some banks are being inspected because of the allegation of money laundering and the country is considering to close such cryptocurrency exchanges. Also, in the past year, the U.S. Securities and Exchange Commission started to work fast on digital token sales.

What’s the effect of China’s actions?

Because of inexpensive power and cheap labour, miners gathered to China, but now they may have to look somewhere else. Bitmain is running China’s two major Bitcoin-mining collectives and is setting up district HQs in Singapore. The #3 mining pool, also known as “BTC. Top” is also opening a facility in Canada. Wallet services and bitcoin exchanges in the country are also leaving. Also, they’re setting up over-the-counter shops in Hong Kong and in other areas of Singapore/South Korea.

What about cryptocurrency prices?

The prices appeared to shrug off the news of increased regulations in China. However, according to analysts, the growing tide of regulation has a hefty impact on digital currencies and it’s also helping in explaining the hefty losses since the starting of 2018.

Story credit: fortune.com

Image Credit: BitNews

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Bitcoin in 2017

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Bitcoin’s value increases with time. When bitcoin outperformed the U.S dollars by 30 percent. It became the best performing currency in 2017. Here, I’ll discuss some comparison with you, about the bitcoin profitability.

Gold, silver, litecoin, Altcoin vs Bitcoin

The 2017 year is best for bitcoin. This cryptocurrency achieves $5 bln market cap in early April. Gold is a precious metal with an extremely limited supply. Whereas, silver is a precious metal also limited in supply. The historic gold/silver ratio is 16:1, meaning 16 ounces of silver were equal to the 1 ounce of gold. The recent ratio of the gold/silver is 64:1, or 0.015625.

In 2013, Bitcoin price reaches to $1242 per coin. Unfortunately, on the same day, gold’s price was $1240. Whereas, litecoin reaches $48.47 per coin that time. In addition, silver’s price in late 2011, was $49.76 per ounce.

Bitcoin has an extremely limited supply and its mining is in digital form. Whereas, Litecoin is also limited in supply but not as bitcoin. The designed ratio of bitcoin/lite coin was, every 4 litecoin will equal to 1 bitcoin. The recent ratio of BTC/LTC is 80:1, or 0.01239. An abnormal difference of 20%.

Gold/BTC current ratios are similar. But their values cross each other. It is totally insane to compare gold/silver with bitcoin. The reason is, gold and silver have physical worth. Whereas, BTC/LTC both are the digital currencies.

Yes, we can compare BTC with other cryptocurrencies. Here, a question is, what is the future of bitcoin in 2017. Its answer is completely simple. Bitcoin’s future will be bright. Because it crosses the precious metal price.

Bitcoin vs Litecoin

Block time for bitcoin is 10 minutes. Whereas, litecoin’s block time is 2.5 minutes. The recent ratio of BTC/LTC is 80:1, or 0.01239.

There are a number of litecoins available in the market, i.e. 84 million. Whereas, bitcoins will not exceed the limit of 21million.

The other major difference between litecoin is the cheaper option for bitcoin miners while bitcoin mining procedure has some difficulties.

Bitcoin uses the longstanding SHA-256 algorithm, whereas litecoin uses the new algorithm known as Scrypt.

Bitcoin vs Altcoin, Ethereum

There are more than 500 cryptocurrencies. Few of them are known in financial markets, all over the world. 2017 is going well for cryptocurrencies. After the success of the Bitcoin, most of the digital currencies are active in the financial sector of the world.

Most of the altcoins are built upon the same framework. Which provide the cheapest ways of transactions on the internet. while ethereum gives developers the opportunity to create all sorts of applications that carry out their own set of operations.

Conclusion

Many other cryptocurrencies trying to target the bitcoin’s perceived limitations. Unfortunately, bitcoin has maintained its value. From above discussion, we conclude that, its golden chance to invest in the bitcoin world.

Bitcoin in 2017

 

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Virtual currency Bitcoin being split into 2: here’s what you need to know

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Everyone has turned skeptical on how to scale the bitcoin cryptocurrency since the chances of a “hard fork” have arisen within the market.

Bitcoin seems to be in a crisis and everyone in their community is suffering along with it.

Virtual currency Bitcoin

Stakeholders and developers stuck in a heated argument over “hard fork”

What is the issue?

Basically, Bitcoin is so well-known that it isn’t able to handle the weight of all the transactions. Transactions are processed in “blocks” that include complicated cryptography to verify and set. But, with the currency growing exponentially and the number of transactions increasing, the 1MB size limit of the block that is built into the system is becoming an issue, causing delays in processing transactions. Thus, purchases would take a long time to confirm.

The time taken for a virtual currency bitcoin transaction has been gradually increasing. The median currently sits at 13 minutes.

What are the alternatives?

The split is leading to two possible solutions: “Bitcoin Unlimited” and “Segregated Witness”. They obviously can’t exist together, they’re software updates to the bitcoin network that would change how it works. This “hard fork” would split the chain of transactions in two, producing another chain splitting from the original one.

 

BU vs SegWit

Starting off with Bitcoin Unlimited, you must understand the concept of bitcoin mining. Miners sift through and verify transactions using computers in order to get rewarded with newly issued bitcoins. Professional miners with computers having specialized hardware do the majority of the mining by performing mathematical tasks.

Miners are in favor of BU because it would give them control over the Bitcoin network.They would be able to increase the block size when required and effectively give them control to set the transaction fees.

On the other hand, to keep the cryptocurrency more decentralized rather than giving additional work to miners, bitcoin developers, and enthusiasts are in favor of SegWit.

SegWit would double the transactions per second capacity of bitcoin by juggling the makeup of transactions, stripping out some details such as signatures. It would also add some extra functionality, including possibly moving some transactions off-chain in a way that might not benefit the miners. This solution would keep control over the network dispersed (decentralized).

Although, SegWit is just a temporary solution. It only doubles the network’s bandwidth, while BU allows miners to vote to increase the capacity when required with no upper limit.

Who’s the winner?

It is possible that bitcoin value will fork and then the two opposing currency will co-exist and compete for users and legitimacy. It is up to the users to choose sides and it isn’t simple to predict the future of the BTC world.

What does this mean for the value of bitcoin?

Bitcoin is hitting high records currently and if the fork conflict’s solved in a timely and satisfactory manner, it would make the market even more powerful.

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