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Bitcoin is a form of digital money – also known as cryptocurrency that is free from the influence of any bank or governing authority. Bitcoin is used to make transactions anonymously on the global scale. The currency was created by a group called Satoshi Nakamoto and first came into circulation in 2009. The identity of group members is still unknown.

The usage of Bitcoin is increasing and the number of people making Bitcoin transactions is growing each day.

If you are one of the people who feel fascinated by this form of money and want to discover more about it, here are some intriguing Bitcoin facts for you.

Bitcoin facts:

There Is No Authority to Control This Currency:

You might be surprised to know that there is no entity that controls Bitcoin. The general concept of money is that it is controlled by a bank or other concerning authorities. But this is not the case with Bitcoin. The currency is autonomous from all sorts of regulatory authorities. The only person who can control the coins is the one who owns it.

Bitcoins Are Finite:

As bitcoins are not printed into cash or molded into physical coins, most people think that there should be an infinite number of bitcoins in existence. But this is not the case because if it were true, the coins would lose their worth. In order to keep them worth having, bitcoins are kept finite. The exact number of existing bitcoins is 21 million.

Bitcoin Has No Set Values:

There are no set values on Bitcoin. In fact, how much a bitcoin is worth depends on the popularity of the currency. The more people use it, the more it appreciates in value.

Bitcoin is Transparent:

Bitcoin is completely transparent in terms of transactions and amount. Each and every detail related to a transaction is available on blockchain. This openness, as a result, induces trust and security among the Bitcoin users.

Bitcoin Mining:

In Bitcoin mining, the users are supposed to solve mathematical problems using a specialized software to verify transactions around the globe. The users in return, are paid if their efforts were successful.

Want to learn more about Bitcoin mining, read our guide on what is Bitcoin mining and how does it work.

Bitcoin Transactions Are Irreversible:

The Bitcoin transactions are irreversible and a user can never be forced to pay. Once the bitcoins are paid, there is no way to revoke the transaction or force the receiver to pay back your coins.

It Costs Little to No Money to Make a Transaction:

Bitcoin transactions cost little to no money. There are no taxes on the currency and it doesn’t matter to which part of the world you send the money, there are no cuts on transactions and the receiver gets the exact amount that was sent to him.

Lastly -Bitcoins Are Stored in Digital Wallets:

Bitcoin wallets are equivalent to bank accounts for real cash. These wallets are used to store, withdraw and transfer bitcoins from one wallet to another. The wallets are protected by a security key and only the owner can know about it until he reveals it someone else.

Tags: digital currency bitcoin

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Buy Apartments in Turkey Using Bitcoin

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If you’re looking for a new luxury apartment, you might be surprised to know that now you can actually purchase one with bitcoins.

Recently, Dubai had announced an apartment project where Bitcoin owners can purchase these chic apartments.

Well, Turkey isn’t far behind as the owner of the MiaVita Beytepe project in Ankara, Turkey just announced that their very own luxury apartments are available for purchase using the digital currency.

Erdal Daldaban, the project manager firm owner, had enthusiastically said:

“We decided to make sales via Bitcoin, which has recently attracted the attention of Turkish investors with its recent value route, considering that we could also attract the attention of our customers who appreciate their investments like this.”

Why Bitcoin?

Daldaban says this is the reasonable next step:

“Bitcoin and digital money has become an element that can no longer be ignored by the global economy.”

This is mainly because of its current value in the market and the increase in its adoption around the world.

During last week, a home in Austin, Texas was bought using bitcoin news and a house in London was put up for sale on a minimum price of 500 bitcoins.

 

News Credits: steemit.com

Image Credits: fox40

Tags: Bitcoin Turkey, Bitcoin trading

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Nasdaq going to invest in blockchain startups

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Nasdaq going to invest in blockchain startups


Blockchain has business potential 

When you are going to generate the money, it’s really hard to beat blockchain. Blockchain startup has its own trends in exchange markets.  Similarly, it has its own business potential. In the same way, large companies all over the world are interesting to invest in blockchain investment by using its potential. First and foremost, the example is Samsung partnering with blockchain to provide blockchain capability to Samsung card.

At the same time, well-reputed companies are taking the interest in blockchain technology. Nasdaq is the world’s second-largest stock exchange company similarly is going to invest in the bitcoin blockchain stock. While it has been the earliest and well-known supporter of new technology in the stock market.

Proxy voting

Financial institutions have to use the proxy voting test. therefore, this growing experiment mostly uses at first emerge. Nasdaq recently completes its test by using blockchain technology. consequently, it will runs it to different exchange sector, whether to approve this technology.

Blockchain ‘time start now

The blockchain is a technology, in which distribution and imputation of transactions are controlled by the internet without any approval of the central authority. As a result, its creates the golden record of data, market infrastructure.in addition, bank hoped that security settlement would be change to corporate actions.

This is the separate issue to implement this technology to its own market or not. Nasdaq is evaluating, whether this system is to be sell to clients including central security depositors. The excitement of investments in blockchain remains high. A technology needs several years of an industry to reap the benefits.

Nasdaq venture

On 19th April 2017 Nasdaq introduce the Nasdaq venture. Which clearly means that company is going to invest in the companies working with blockchain. The announcement does clear one thing, the venture will look after the investment opportunities and will focus on next generation data analysis, machine learning, machine intelligence, cloud and data analysis.

Nasdaq does its first investment in $10M, and it will focus on both late-stage and seed seed-stage placement

The range of investment will be from $1M to $ 10M.  Moreover, each investment will directly support to Nasdaq’s core business strategies and mission. In addition, Nasdaq venture makes it sure that they will focus on data and analytics, machine and artificial intelligence, emerging and frontier marketplaces, digital transfer/payment/transaction processing type of finch companies.

On the other hand, Nasdaq always an active supporter of financial technology innovations, especially in the case of blockchain technology. Therefore, it has a great reputation in the financial sector.  In conclusion, Nasdaq will facilitate the US even so, the other countries by using this system.

As Friedman said, “With the launch of our new venture investment program. We are reinforcing our focus on driving growth. Innovation by evaluating, distributing, licensing and integrating disruptive technologies for the long-term benefit of our global clients.”

 

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Bitcoin Mining in Russia: Why Chinese Bitcoin Miners Are Moving to Russia?

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Everyone knows that China was considered as a hotbed of mining operations, however, the Chinese government cracked down on the cryptocurrency as a whole and recently someone made a bet that Russia is the best place to establish a mining venture. Let’s find out if it’s true or not.

Mining in Russia:

According to Kommersant (a nationally distributed daily newspaper in Russia), many electric power stations in Russia have been acquired by an investor just for bitcoin mining. It is claimed to be the first time ever someone bought a whole power station for such a gamble in a huge and natural resource ironic country.

One power station is located nearby the Russian Republic of Udmurtia, whereas the other one is located on the western slopes of Middle Ural Mountains, in the Perm region. According to the newspaper report, these amenities will be used in the creation of bitcoin mining farm and data centre.

Bitcoin Mining in Russia

Bloomberg reported that development of bitcoin mining will require almost 100 million dollars. An investment plan has been presented by a Russian company named “Russian Miner Coin”, to gather 100 million dollars, so the investors can buy Ethereum or Bitcoin, and acquire almost 18% of the mining benefit that is generated by the company.

According to a report, the buyer of these power stations is a businessman, Aleskey Kolesnik, who has also circuitously confirmed the acquisition. But he also said that the cryptocurrency process will only start after the approval of Russian government, to make it completely legal.

Alexandar Drozdenko (Governor of Leningrad) said that a huge portion of the older power plant will be left abandoned after the completion of these new power plants.  Cryptocurrency mining will require huge processing areas and cheap electricity, and both of these facilities can be provided by the nuclear power plant.

Chinese Miners Moving to North:

At this time, China owns 80% of the mining cores in the world, which makes it the leader of pool mining. Iceland is the second largest one with 5% of the global mining power. The third one is Japan with almost 3% of mining power.

It seems like Chinese miners are getting prepared for an exodus from their homeland. Cold weather and cheap electricity are required for efficient mining. However, it’s believed that government of Russia will be more honest than others in accommodating bitcoin mining operations in their region.

A global panel of cryptocurrency miners was organized where people from different fifteen countries explained to ministers how these cryptocurrencies are formed and discussed various approaches to mining regulation.

Many Russian politicians think that bitcoin can help the country to evade Western economic sanctions. Also, 100 million dollars will allow Russia to get an environment-friendly mining equipment. However, at this time bitcoin mining and its transactions are not regulated. The country is working on the legalization of Bitcoin and other cryptocurrencies. Plus, the trading cryptocurrencies will be also authorized and the new law as a whole would take place after few months.

Bitcoin mining in Russia is being criticized at the moment by mainstream media, labelling it as a waste of energy, however, Russian ministers don’t share the same views.

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Selling of bitcoin

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Bitcoin selling is not that much simple as you buying bitcoin. But we are here to guide you to cash out your digital currency. When you are mentally prepared to sell your bitcoin, you have two options in front of you selling bitcoin online and selling bitcoin in person. You have to decide that which option you are going to choose because both options have advantages and disadvantages. Here we will discuss both options to clear your difficulty.

Online selling bitcoin

This is the most common option of trading your bitcoin. Which include the three ways of selling your bitcoins.

  1. Direct trade
  2. Exchange trade
  3. Peer to peer trading marketplaces

 

Direct trade

and then put an offer of sale. Sites alert you when a buyer will available and you can contact the buyer by using a website to complete your trade. Bitbargain and bootylicious are quite different so you have some patience.

Exchange trade

In this way, you also have to verify yourself. You may not be going to trade with an individual but with an exchange. Where exchanges act intermediary who keeps’s everyone’s funds. You just need to place a sell order, amount and type of currency you want to sell, and per unit price you want to sell. As soon as buy order places, an exchange will complete the transaction and your desired currency will be credited to your account. The downside is if you are selling bitcoin for fiat currencies, you have to withdraw those funds to the bank. These are some difficulties you can face in future If you’ll make the wrong decision with bitcoins. So be careful while you are purchasing or selling the bitcoin. Circle, Kraken, and Bitstamp are some examples of crypto to fiat currency.

On the other side, you can use the currency directly in shops where bitcoin directly use or a bitcoin shop rarely accept lite coin and dogecoin. that’s the rare case if someone wants to use pure currency exchange to change bitcoin for another currency.

For exchange, BTC e-charges a flat 0.2%. but on the other hand, you must store on exchange for your future.

Selling of bitcoin

  • Peer-to-peer trading

Trading in which site like brawler and purse combine the two or more groups of people to competes for their specific issues. In this process, the first group combines the group of people who wants to buy goods from sites which don’t accept digital currency directly. They want to be able to use bitcoin. And in second, there is that type of people who buy bitcoin with a credit or debit card. The marketplace combines the people of same requirements.

  1. Emi place her amazon wish list on marketplace
  2. Hash want to buy bitcoin by using his credit/debit card on the same rate place by Emi. So, he’ll accept the trade by using marketplace platform. And things were delivered to Emily’s place.
  3. Once the good delivered, hash’s bitcoin are released and arrive in his wallet.

In this system, hash pays an amount for service but easily able to attain bitcoin via bank card.

Withdrawing from your own funds

The worldwide way of moving money is international wire transfer. Most of the online bitcoin markets use this way also. But for the ease of the people, another way of transferring your money is single European payment areas. This SEPA was created to make international transfer between the member if European union more efficiently. e-support these payments.

Transfer take a long time and heavy charges of services. If you are going to open an account for this purpose you’ll face heavy refusal from banks. HSBC directly refused this guide accounts for bitcoin trading.

Your identification is necessary

Your identification is must when you are going to buying or selling the bitcoin. While you going to buy a bitcoin, there will be a small process of your identification but when you are going to sell your bitcoin, you must face different difficulties. So, while buying the bitcoin, you must complete your identification process. When you first enter, the site makes your identification clear by uploading at least two utility bills, your pic, id card to make your selling process easier.

When you are going to sell your bitcoins, you have to be aware of several things,

  1. You can use mobile phone application for the calculation of the rates.
  2. Worldwide meetup of bitcoins is existing. Where people easily trade the bitcoin and cryptocurrencies.
  3. Many use the same price as prominent bitcoin exchange or bitcoin desk.
  4. For the sake to cover costs, some seller applies the percentage on the top of the rate.
  5. Prices vary from country to country, so it will help you in local fluctuations.
  6. Keep yourself safe, so create your meeting in public places.
  7. There is a site, where you are can easily advertise yourself as a bitcoin seller.

Good luck

 

 

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ICO Regulation: Japanese Research Group Releases Guidelines

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According to a Bloomberg report, a list of strategies for the regulation of ICO (Initial Coin Offering) has been released by the a research group at Tama University, in Japan. The list also explains strategies to fully legalize the ICOs.

dubai ico

Guidelines for ICO Regulation

The list of guidelines includes regulations for:

  • Tracking project development
  • AML (Anti-Money Laundering)
  • Identifying investors
  • Protecting the debt holders and current detachment

The Financial Services Agency of Japan will be cautious on the proposal, as it could be ultimately made into the law just within few years’ time, Bloomberg reported.

The paper creates issuance rules, for example; defining and revealing methods following the development of white papers, and disclosing the possible impacts on debt holders, shareholders, and token investors. In addition to that, the paper specifies particular trading rules, including:

  • Verification of customer’s identity
  • Suitability (Know Your Customer)
  • The allowance of industry’s wide-minimum standards on the listing of tokens.
  • The restriction of biased trade practices such as insider trading.

Regulations will be Applied to Three Types of ICOs

While acknowledging that it is quite hard at this time to classify the whole legal ICO, as many are impending, the unidentified types might be still present. According to the paper, the rules will be applied to only three types of ICO:

  • A large company type for in-house.
  • A venture company type.
  • An ecosystem type of joint exertions with numerous firms or government entities.

In the report, ICOs are clearly identified as securities and have the same position as the US SEC (Securities and Exchange Commission).

According to a researcher, Kenji Marashima:

“ICOs are groundbreaking technology, so if we can implement good principles and rules, they have the potential to become a new way to raise funding.”

One mentor of the study group is Takuya Hirai. He is a member of the leading Liberal Democratic Party, as well as, one of the planners of a regulation legalizing crypto-exchanges in Japan. Other members of the group are:

  • Yuzo Kano, who is the head of bitFlyer Inc., which is the largest Bitcoin exchange in Japan.
  • Mitsubishi UFJ Mizuho Financial Group Inc.
  • Financial Group Inc.
  • Sumitomo Mitsui Financial Group Inc.

The publication of these ICO-friendly guidelines is set against the positions of South Korea and China, as last year, both of these countries banned ICOs.

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