Bitcoin’s cost is measured by fiat money, for example, American Dollars, Euro, etc. Bitcoin, therefore, appears similar to any symbol traded on trade markets.
Unlike fiat, however, there is no official Bitcoin cost; just different averages in light of price feeds from worldwide exchanges. Bitcoin Average and CoinDesk are two such names detailing the average cost. It’s typical for Bitcoin to trade at a price marginally different to the normal price.
But inconsistencies aside, what factors determine the price of bitcoins? well, the main factor is supply and demand. The fact that bitcoin is limited in nature leaves the currency mainly at the mercy of supply and demand. When the Bitcoin demand is high, supply drops, and the price goes up and vice versa.
Bitcoin price history is very interesting. In 2009, which was its first year it was just $0.39 per bitcoin. now it is valued at more than $7,000.00 per BTC. Stunning isn’t it.
Here is a Bitcoin value graph giving you an idea of how its price has moved over the years:
Looking at this Bitcoin value graph, it can be easily determined that Bitcoin value has been on a constant rise over the last couple of years, and the trend is expected to continue in the future as well.
Ranked as the 13th best digital currency, Monero recently became part of the crypto jacking stir. In a recent uproar of these growing cases in the cyber world, Coin hive was being implemented for the unauthorized mining of the Monero cryptocurrency.
In a recent report by the cybersecurity researcher, Troy Mursch explains in detail how this malware hacked nearly 400 web pages in no more than 3 months. These web pages included a lot of government and educational sites as well.
The term, crypto jacking has been in circulation for quite some time now. The hacker or the group of hackers uses the victims or the visitors’ processing and the computing power to mine the cryptocurrencies without their consent. The hackers scramble and steal the data and information from the users’ web-based applications. They would then manipulate victims to pay them any digital coins for the decryption of the data.
Crypto jacking is seriously affecting many websites and object them to mine cryptocurrencies according to the hackers need.
Coinhive- The Crypto Jacker?
On its own, Coinhive is not malicious, but when encrypted and compromised with a ‘crypto jacking’ code, it forces the system to mine Monero without the knowledge of the target. UNICEF runs the same malware to raise funds for their work. But they use it with the consent and knowledge of their users. Which is definitely the right way to use the malware for which it was created.
There are a number of web pages using the same method and process to offer users to donate their system power to mine cryptocurrencies. The process is only performed with the consent and permission of the users. Projects like Bail Bloc and Salon are offering to mine these coins but just with the consent of the operators.
Affected by Coinhive
In an official statement, Troy Mursch has extensively mentioned a list of all the web pages that were affected by the malware so that all the users and visitors can be fully aware of the subject. Among these nearly 400 above websites included,
- San Diego Zoo
- The Government of Chihuahua, Mexico
- The National Labor Relations Board
- A U.S Federal Agency
- The City of Marion, Ohio
- The University of Aleppo
- The Ringling College of Art and Design
- UCLA’s webpage for Atmospheric and Oceanic Sciences Program, and many more in the list of this 400.
With this detection of extensive, without the consent mining of these Monero (XMR) cryptocurrencies, it is hoped in the future that these practices could be detained. Coinhive is just an application like many others. It is just misused and wrongfully being implemented and practiced by the hackers.
Subsiding this dilemma, there has been an extensive negative dropping of Monero in its already established and flourished market. The reasons and causes still remain undetectable.
The Market Affect
With the slight rise in the market, all the majority of the digital world is floating in the red zones. Still not being able to maintain the pace with the Dollar. Monero XRM has been no different than the trend. Keeping the flow awaken, XRM shows a trivial downfall recently.
Despite its top 20 peers, XRM has been seen floating little weak during the month. For a period of a month, it just managed to collect a rise of 32%.
On a collective period of two months, there has been a collective drop down of -15% of the currency. Despite the reckoning, its top 20 peers still managed to rise gradually with the Dollar.
Keeping eyes on the occurring trends, Monero is facing the same dip for the current week too, continuing the same flow up to -7%.
With its fall of -3% against the dollar collectively, the currency has fallen seemingly for -1.37% against the Bitcoin.
After hitting its record price of $490 per unit against the dollar in January 2018, Monero is being traded at $222.68 currently.
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.
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.
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.
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 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.
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.
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.
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.
Peer to peer
Being the most popular decentralized cryptocurrency, bitcoin is an online version of cash. This independent, peer to peer version of money is not directly connected to ready money. You can not buy it at ease. You will have to use different online exchange sites to transfer or convert your cryptocurrency to fiat currency.
Pay pal has been the biggest ally for bitcoin for quite some time. It allows you to easily and quickly convert your bitcoin amount to fiat currency- USD or any local currency you wish for.
But not all of these sites are safe and convenient to work at. These cryptocurrencies- bitcoin is decentralized. Means, they can not be traced. The biggest con of this feature is that it can create a lot of fraud and scam during the transfer. The risk is pretty much very high. Buyers can complain that they didn’t receive the bitcoin in the transaction. And the seller will not be able to prove his verdict that the transaction was performed. In result, he will have to refund or reperform the already done transaction. The transaction fee of these is comparatively higher too.
How do I send my bitcoins to pay pal?
Payticoins.com provides a secure, easy and free transaction of these cryptocurrencies. Bitcoin being abstract, they believe in reducing the gap between these currencies and the users- you!
They want to revolutionize the way in these crypto coin exchanges are being done around in lots of companies. So, in order to provide secure yet anonymous transactions, PaytiCoins.com aims to aid this revolution of crypto coins in the world today.
Why PaytiCoins Exchange?
Though there are a number of platforms supporting the transaction today. The choices and compromises lay side by side for you to choose from. But why choose Payticoins? So, here are some of the whys:
- A large number of companies and operators is maintained, for you to choose for the exchange.
- With exchange time as low as 1 minute to 5 minutes.
- Making sure there are low commission rates, varies depending on the company you perform the exchange with.
- 10% referral value to the clients in their referral link through our referral system.
Paypal to Bitcoin- Step by Step
For the transaction, there are few easy and remarkably effortless steps you will need to follow.
- Open the page to PaytiCoins.com from your browser.
It will not require you to make any account requiring any of your personal information. Supporting the protocol behind the digital currencies, we give you the opportunity to carry out exchange by just providing your valid email address. That email will be confirmed for the validity first and a unique wallet will be created in your desired currency. Later, after the transaction, a confirmation on your provided email will be sent.
You will directly jump to the page where it will require you to add the cryptocurrency type and amount.
- Send from, choose – cryptocurrency (Bitcoin)
- Transfer to – Pay Pal
It will then require you to set the amount you need to convert.
- Enter the number of Bitcoins you need to convert in the fiat currency
- Then hit- Continue Exchange
This will then show you the Receive Amount in the relevant currency you choose to get transferred to.
The two most important and vital things we will require from you will be your PayPal account address and your email address. These addresses will be verified before the transactions will be performed. And later after the transaction, a verification email will be sent to the address too.
- Pay Pal Account
- Email address
- Hit- Become Exchange
The system will then generate you a secured QR code. It will show you the processing and the number of BTC that are being transferred. This will also display the bitcoin address of the user.
It will require you not to shut down the window until the status prevails as ‘Awaiting Payment’ and is not identified. It will require a couple of minutes until you receive the stated amount in your transfer.
You can always counter check the transaction by scrutinizing your Bitcoin account and verifying email sent to your address of the transaction. The bitcoins sent will be shown in the ‘minus’ with the same amount you chose.
Now you can simply enjoy your transacted amount in your Pay Pal Account with no reservations.
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.
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.