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.
Ethereum is one of the leading cryptocurrencies in the digital world. In fact, it’s the second most popular cryptocurrency after Bitcoin. The technology used to develop Ethereum algorithms is same as Bitcoin, and this is the main reason why these two function in a pretty much similar way.
Now, the question that comes to the mind is: if both Bitcoin and Ethereum are similar in nature, what makes the purchase of Ethereum more sensible over the purchase of Bitcoin and other cryptocurrencies?
In this article, we have discussed 1o reasons why buying Ethereum over makes more sense. Let’s give them a read!
Reasons to Invest/Purchase Ethereum Over Bitcoin In 2017:
The Bitcoin network has recently gained the reputation of being slow. According to the news coming out of Bitcoin community, this is due to the increased volume of transactions on the network. The slow confirmation time has left the Bitcoiners extremely annoyed and agitated. On the other hand, Ethereum offers transactions that are much faster. For an insight, the average Ethereum transaction time is 12 seconds in comparison to 10 minutes of a Bitcoin transaction.
‘Smart Contracts’ is a unique feature of buy Ethereum. It is basically an exchange mechanism which holds the precise records and assists two untrusted parties to make a direct exchange. These Smart Contracts reside in Blockchain and are autonomous to third party influence.
Ethereum Is Open Source:
Ethereum algorithms are open source, which means any programmer/developer can access the code without having to go through permissions regarding the improvement of the code. The biggest advantage of Ethereum’s being an open source is that it allows the collaboration of projects between different sectors of industry that are based on Ethereum. As a result, the projects become seamless and more Integrative with each other.
No Third Party Involvement:
Using Ethereum allows you to avoid dealing with third parties such as banks, lawyers, etc. The transactions do not depend on any intermediaries. The only thing they are dependent on is the Ethereum network.
Compared to Traditional Banking, The Security Is Much Higher:
Our traditional banking system creates transactions on a monthly basis. The code of these transactions is stored in a bank’s computer and there are validations and approvals by the central authority. On the other hand, the code for Ethereum transactions is stored on participating computers. These computers forward this code to the network’s nodes – making the transaction environment secure.
Ethereum Virtual Machine:
If you remember, we discussed ‘Smart Contracts’ in the earlier part of the article. The Smart Contracts needs a specialized environment to function: Ethereum Virtual Machine is that environment! The EVM gives all the projects running on Ethereum network a common base and provides them with a standard set of instructions. Some of the major programming implementations of EVM are Ruby, Java, C++, Python, and Haskell.
No Transaction Fees!
Due to the availability of EVM for Ether transactions, all the account objects reside in a common execution environment. The communication between these accounts takes place via transactions. The code gathered from these accounts helps confirm/ignore a transaction. If the code is correct, the transaction will be confirmed. Else, it will be ignored. Since all of this is the responsibility of network, no transaction fees are needed.
Ethereum Is Highly Stable:
One of the biggest advantages of Ethereum is that it is highly stable, has organic growth, and does not have massive spikes in price fluctuations. Besides, Ether provides the common folk with a low-cost alternative to other cryptos. Moreover, despite having encountered a number of cyber-attacks, the Ethereum blockchain still remains in huge demand to the customers. All thanks to the high stability!
The Transactions Are Immune to Frauds:
Ethereum transactions are fraud less. The decentralized nature of Ethereum allows no tempering or data loss while using the network. Moreover, the network does not allow anyone – even a programmer or data miner – to destroy the record of a transaction that has already happened.
Transactions are Permissionless:
Ethereum transactions are permissionless as there is no central node in the network. Everyone can make a transaction on the network. All they have to do is install the software and they are good to go.
These are the top 10 advantages of Ethereum. In conclusion, the currency offers some unique advantages and, is perfectly safe to use, or to make an investment. If you are looking to start a crypto venture, Ethereum is the best option to take off. Good luck!
Tags: why buy ethereum, bitcoin vs other cryptocurrencies
Digital currencies such as Bitcoin, Ripple, and Ethereum have been soaring pretty high over the past few months. According to the latest estimates:
Bitcoin currently stands at $2588 per BTC
Ripple has hit the market cap of $10 billion
Ethereum has reached a total market cap of around $20 billion.
This incredible growth in value is the outcome of efforts put in by two countries – China and Japan.
China has been leading the Bitcoin market for the last couple of years. The Chinese mining pools are in charge of 60% of the Bitcoin network’s hash rate. Also, with a cheap electricity and access to proper hardware, China provides the ideal ground for digital mining.
However, in February 2017, three of China’s biggest Bitcoin exchanges suspended all withdrawals due to increased concerns over money laundering and capital flight. BTC China, Huobi, and OKCoin declared in separate statements that they will lift the suspension after the proper implementation of new guidelines set by the Central Bank.
Luckily, during June, there was an announcement that the self-imposed halt on withdrawals by Bitcoin exchanges was no more in place. The news took China by storm. The citizens responded with complete enthusiasm, assuring that they have complete confidence in digital currencies.
While China was on a halt in the beginning of the year, Japan took Bitcoin to an entirely new level. Towards the start, Japan barely took up 1% of the total Bitcoin market in trading volume. However, that soon changed as Japan now holds at least 6% of trading volume at the moment.
Moreover, Japan has entirely eliminated the tax on Bitcoin and other cryptocurrencies, a move which will ultimately increase the trading activities within the Japanese exchange market. The main aim behind this move was to ensure that all transactions take place without having to deal with any external factors such as taxes. Now, Bitcoin traders and businesses can run smoothly and easily access cryptocurrencies in the country.
Furthermore, Large institutions in Japan have now begun to accept Bitcoin as a payment option. Japan’s largest exchange, bitFlyer, now has the backing of all of Japan’s megabanks: MUFJ, Mizuho, and SMBC. In addition, Bic Camera, a very popular retailer, has paired with bitFlyer to accept Bitcoin at all of its locations. As the acceptance of digital currencies by influential retailers increases, the Japanese have begun to trust digital currencies for daily transactions.
Both the Chinese and Japanese, are responsible for boosting Bitcoin’s value to new heights.
Acceptance by The Government:
The Japanese Government is determined to provide their business community with a proper secure environment, where they are able to easily access cryptocurrencies and conduct trading activities. They’ve already assured that all their retail stores are well-equipped with the right security systems to prevent money laundering and fraudulent transactions from happening.
Ultimately, both governments are driving the cryptocurrency’s growth off the charts, with China in plans of designing and launching its own currency and Japan legally classifying Bitcoin a form of payment.
You’re probably familiar with the news on the take down of two of the largest online darknet marketplaces – AlphaBay and Hansa. It’s being called as the largest international operation against the dark web’s marketplaces conducted by the FBI, DEA and Dutch National Police.
However, it was ironic how the federal authorities took down AlphaBay but took Hansa under their charge and kept it running for around a month just to keep an eye out on the happenings of its daily visitors. Also, the visitors of AlphaBay Market had flooded the Hansa Market since they were forced by the seizer.
In addition, many of AlphaBay’s users found refuge in other dark markets as well such as Dream Market, which is said to be the second-largest darknet marketplace. But this safe haven is seemingly on the red alert as well as some Reddit users on various “r/Dream_Market” threads are concerned about the marketplace.
A Reddit user claims that Dream Market might already be under the federal authorities control. This is what the user’s post said.
“I got contacted by an ex-Hansa staff member telling me that the operation is apparently bigger than we currently assume, that ‘there will be a bloodbath, a purge’ and that ‘any vendor on HANSA should immediately seize his operation, lawyer up and hide his trails’.”
Another Reddit user claimed to have found a non-encrypted IP address in Dream Market’s source code, saying that the police have possibly taken control of the black market and are now observing all the activities of its visitors.
Now you might be wondering what are other alternatives that you could visit that are not on the radar right now. Well, fret no more.
Here are 3 of the closest options you can get of the above-mentioned darknet marketplaces:
3 Best Alternatives Of Dream Market:
Silk Road 3.1:
As we all know, Silk Road has been taken down several times before but that has never stopped it from rising back up. This proves that as long as the Darknet Markets remain, so will Silk Road. It is still growing in popularity which is a good sign since it means its laying low.
Russian Anonymous Marketplace is one of the oldest darknet markets to exist. With a forum based interface and a range of drugs from light to hard, it is a good alternative. Especially since it’s pretty old, it has got good reviews.
Last but not the least…
Bermuda is a brand new darknet marketplace that is said to provide an escrow service based on Bitcoin for a safe and smooth trading procedure. The advantage of it being entirely new is that it’ll be completely off the radar so you are in good hands. According to some reviews, it’s doing good in the market, so definitely check it out in case you’re looking a safer alternative.
The continuous demand and popularity as well as a sudden increase in the prices of various types of cryptocurrencies has aroused a wide scale interest. Instead of all that popularity and demand, the future of digital currency is still uncertain due to many reasons.
Cybercriminals played a critical role in this scenario when they started to demand ransom in the form of cryptocurrencies, most notably Bitcoin, which is the most popular and precious of these cryptocurrencies. It was already expected due to the safe and anonymous transaction facility. As a result, the demand of cryptocurrencies increased and automatically led to the mining of cryptocurrencies.
That’s why Microsoft has recently released a blog post elaborating the increasing threats of malicious cryptocurrency miners. Let’s see what actually cryptocurrency mining is:
Talking in simple words, coin or cryptocurrency mining is the process of running complex mathematical calculations in order to maintain the blockchain ledger. Though this process gets you a very small amount of coins but it pays well as the prices have gone up during the past few years. As a matter of fact, cryptocurrency mining will celebrate its 10th year in 2019. Because of the continued use of high level computing and uninterruptible power supply, it is not a too much popular practice. It is an intensive task that requires significant resources from dedicated processors and other hardware including heavy duty graphic cards.
Measures from Microsoft to Block Miners’ Attack
As mentioned earlier, Microsoft has shown some serious concern in this regard. The main reason is that technically, cryptocurrency mining can come in various malicious forms and can be implemented in a lot of ways. The largest threat is the so-called cryptojacking. Cryptojacking refers to remote browser-based coin mining that uses background resources to mine when a user visits the malicious URL turning his computer into a host. The same thing can also infect your computer with unwanted applications, while some hackers might be able to modify the startup settings of your computer, so every time you boot it, the unwanted malicious application will run in the background affecting your system speed.
The main reason for Microsoft’s concern is the core issue associated with the loss of computer resources. Corporate setups can face a huge drain of their available resources.
Fortunately, Microsoft has successfully blocked a major attack at the beginning of this month.
In order to stay protected, Microsoft has recommended to use advanced machine learning detection modes in Windows Defender ATP to identify and prevent such malicious threats.
Do you ever wonder where you can get free bitcoins from? Let’s make this clear, you cannot become rich overnight, everything requires dedication and hard work.
Here is how you can earn bitcoins in 8 different ways:
Accepting them as a means of payment
By completing tasks on websites
From interest payments
By receiving tips
A regular source of income
Earn Bitcoins by Accepting Them as a Payment:
It is so easy and quick to earn bitcoins by selling goods and services. All you have to do is enlist your shop or business and let the bitcoins roll in as buyers start appearing. Just follow these simple steps:
Get a free online Bitcoin wallet from Coinbase. Be sure to keep an eye on your bitcoins frequently to avoid any hacking issues.
QR code should be displayed with your bitcoin wallet address next to your cash register.
The entrance of shop should display the “Bitcoin accepted here” logo.
Earn Free Bitcoins By Completing Tasks on Websites:
Another way to get bitcoins is visiting bitcoin-related sites and carrying out small tasks on the web. These tasks include watching a video or an ad, playing a game or taking a survey. Here is a list of some of the sites that offer bitcoins for free:
BitVisitor: Requires you to log onto websites and watch videos. Each page appears for five minutes and then you proceed to the next. Fortunately, the payment procedure completes within an hour and you don’t even need to create a user account, just your Bitcoin address. Though, the number of bitcoins you earn may vary.
CoinWorker: Let’s you earn bitcoins by completing tasks. You must create an account here. Also, payouts are usually higher on here than most sites.
Bitfortip: Answer questions on forums and earn bitcoins. This service is a benefit for both newbie and experienced users of Bitcoin as it brings people together. Newbies can ask their questions and the experienced can answer them while receiving rewards in Bitcoin.
These are not methods to make you rich in a day, but ways to make you more familiar with the currency.
Earn Bitcoins From Interest Payments:
You can earn bitcoins through interest payments by lending your Bitcoin assets. It is a good way to make bitcoins from what you already have.
Lending directly: This when you lend out your bitcoins to someone you personally know and have assessed. You get to decide whether the borrower is trustworthy or not.
Peer-to-peer bitcoin lending websites: Sites such as Bitbond have listings of borrowers publishing funding requests to which you can contribute to their loan. The concept behind this is the same as for fiat currency loans. The borrower gets a certain amount over a specific period of time and repays the amount with interest. However, make sure that both the site and borrower are trustworthy.
Bitcoin banking: Place your bitcoins as a deposit with a site that pays you a fixed interest rate on these deposits. The good thing is you don’t need to diversify your bitcoins over many borrowers. In this banking model, you just need to trust one single browser, which is the bank.
Remember, always lend through sites you trust, because even fraudulent sites comply with the usual requirements that are present on legit sites.
Earn Bitcoins by Mining:
Mining is a process which generates new bitcoins. During mining, your computer adds new confirmed transactions to the blockchain and searches for new blocks. A block is a file that has the most recent Bitcoin transactions recorded in it when a new block is discovered, you receive a certain number of bitcoins. However, if you want to earn bitcoin by mining, know that it’s a time-consuming and costly process.
Earn Bitcoins by Receiving Tips:
One of the best ways to earn Bitcoin fast. It is pretty much like accepting Bitcoin as a means of payment. All you need is a wallet, a QR-code with your Bitcoin address on it and the people who can give you a tip. A simpler option for this would be your own shop. Simply display the QR-code and check each day what came in. Another cool way to get online tips is using Bitfortip which we have already mentioned above. This service allows you to get tipped in bitcoin as the name already says.
Earn Bitcoins Through Trading:
Arbitrage is the safest and most convenient way to make money with trading. Basically, this means that you buy an asset for a certain price and sell it immediately for a much higher price at another destination. Price differences between exchanges often occur for certain reasons.
The other way to earn Bitcoins from trading is simple speculation. In this case, you would buy bitcoins, wait until the price increases, then sell it for a fiat currency. When the price drops again, you buy more bitcoins and start all over again.
Earn Bitcoins as a Regular Income:
There aren’t many organizations that would be ready to pay you in bitcoins, but there are some and maybe there will be more acceptance towards this in the future. Apart from being employed by some company, you have the option of working from home for others as well. Here are some sites offering jobs and where you can post a job yourself. It is a very convenient way of working and many jobs can be completed from home.
Bitcointalk Forum Services Section- Offers job listings that are paid in Bitcoins.
Jobs 4 Bitcoins- Has a focus on job offers for programmers on reddit.
BitGigs- Online job board with a variety of job offers. Do give it a look.
Coinality- Has a different approach, it locates the jobs around you by displaying them on a map. It comes in very handy if you are interested in locating a job somewhere near you.
XBTFreelancer- Another job site for gigs that are mostly software based. If you have programming or other IT related skills it is the place for you to earn Bitcoins with your expertise.
bitWAGE- Lets you find jobs that pay in bitcoin. It also lets you invoice your USA, EU, or UK employer or client in different currencies including bitcoin. This means that you can earn bitcoins from your regular job.
Earn Bitcoins From Gambling:
Online bitcoin gambling can come in a variety of forms. Casino games with live dealers and video slots, dice sites, sports betting, and poker are the most popular forms of bitcoin gambling currently available. Many casinos offer welcome bonuses for new and existing players, usually doubling your first bitcoin deposit on their site.
There are many sites available for bitcoin gambling, each with their own games, bonuses, jackpots, and prizes such as Bitcoin Casinos, Bitcoin Poker, Bitcoin Dice etc.
As you can see, cryptocurrencies are now demanded by everyone. While you do have to invest a certain amount of time to get rewarded, it is still a learning experience for those new to the digital currency community.
Those who want to just skip all these steps, simply want to buy Bitcoin and are wondering where to buy bitcoin, CoinBase, CoinMama, and CoinPanda are some of the most reliable exchanges to buy Bitcoin. Good luck with the purchase!