View: 447
Want create site? Find Free WordPress Themes and plugins.

Countries that accept bitcoins

There are more than 500 cryptocurrencies in the world, but Bitcoin has dominant worth. In fact, some countries become the hub of this peer-to-peer digital currency. Here, this article is about the story of some countries, which country uses Bitcoin and who accept the Bitcoin and use it in payment transactions.

Countries that say yes to bitcoins

If a country going to introduce Bitcoin technology to its financial sector. Then, it clearly means that country is going toward the revolutionary situation. It would leave a strong impact on its all sectors and also on related countries.

Bitcoin accepted countries:

Canada

Canada becomes a bitcoin-friendly country, which ensures that Bitcoin cryptocurrency is not used for money laundering. Canadian authority makes it sure that transactions of Bitcoin are taken place under complete supervision. Canada revenue agency takes Bitcoin transactions as barter transaction. In addition, income generated from these transactions named business income.

Australia

Australia allows The Australian taxation office considers Bitcoin transaction as barter arrangement. Which means, Bitcoin transaction legally completes its process under specific rules and regulation.

Estonia   

A small nation, accept the Bitcoin digital currency. It has no history of jumping to new technology. whereas, its financial sector show interest to implement on Bitcoin technology.  They are going to use blockchain technology for healthcare, banking services and much more.

Denmark

Denmark is one of the developed countries in the world with living standard and with financial stand as well. Bitcoin will be used in all aspects. Whether in means of exchange or to the alternative to central banking monopoly. Danish bank declares that “Denmark is home to a number of Bitcoin startups and exchanges such as CCEDK, which has been a prolific innovator in the crypto-space with recent releases of Bitcoin “3.0” technology and decentralized exchange.”

Countries with strict rules

In the same way, countries which opposed Bitcoin first. Now, those countries have a dominant part in Bitcoin transactions. They utilize its advantages in their investment. The main reason behind the opposition was the anonymous conduction of transactions between two account holders. it may use in illegal dealings like buying drugs or weapons…

Whereas, in presence of all securities, countries accept the Bitcoin with strict rules. Here are some countries with strict rules.

USA

As the USA is considered as Bitcoin friendly country. Whereas, the government is trying to control Bitcoin transaction process. Same as with its traditional money. Incidentally, Bitcoin is peer-to-peer digital currency and never controlled by anyone or any authority. In that case, USA government generate some rules regarding Bitcoin.

Japan

In the same way, Japanese Financial service agency place regulations to Bitcoin exchanges. According to Motokazu Endo, Attorney of FSA,

“Cryptocurrencies’ prices fluctuate sharply, and they’re highly speculative. Many exchanges have the weak financial basis, and should they go bankrupt, it would be tough to protect creditors’ assets.”

At this point, if Japanese people want to buy bitcoin. Then, they have to pay 8% consumption tax. And this all transaction will be through Yens. Because bitcoins considered as imported goods.

China

In July 2016, China introduces a law named “civil right object” to the public. Chinese can buy and sell goods through Bitcoin under this law.

 

Did you find apk for android? You can find new Free Android Games and apps.

Leave a Reply

Type Comments Here

Your email address will not be published.

eleven − eleven =

Share Your Toughts

View: 419

Bitcoin News 2017 – Digital Currencies Need Regulation

Want create site? Find Free WordPress Themes and plugins.

Digital Currencies Need Regulation:

Digital currencies need regulation, without regulation, there might be a wild swing in the prices of digital currencies. The chief of BTCC says Chinese regulator isn’t cracking down on Bitcoin.

The head of a leading Chinese Bitcoin Exchange warned on Tuesday that Digital currencies should be regulated otherwise they have the risk to go out of control if more individuals invest in these digital assets.

Bitcoin and Ethereum are two most popular digital currencies. They have seen a rapid price swing in recent months.  In May, 19% price fall for Bitcoin noted nearly $4 billion in the value wiped off.  Last month, the Ethereum price crashed as down as 10 cents from about $319 on the GDAX digital currency exchange. Because there is a bullishness in the market, as some predict that the price of Bitcoin to climb as high as $100,000 in a decade.

Bobby Lee, the CEO of Bitcoin exchange “BTCC”, he told to CNBC’s that “I think regulation for digital currencies is much needed because it will run amok from the society”.

He also said in Hong Kong that the major challenge is how to craft the rules and regulation around this new technology. He added I think it is taking the regulators and lawmakers some time to come up with the suitable rules and regulations to govern companies.

Efforts of People’s Bank of China:

Regulators are discovering ways to regulate the digital currencies.  People’s Bank of China stepped up some efforts to regulate the market earlier this year. The bank set up a task force to conduct an inspection and ensure Bitcoin exchanges had realized anti-money laundering systems, and they also warned many exchanges against violating rules.

Image Credits: CoinTelegraph

Some noticed the moves from PBOC as a try to crack down on Bitcoin but Bobby Lee disagreed. He said it is not really a crackdown. Lee added, previously the Central Bank was not well aware of the details of Bitcoin usage and trading.

He described that the upsurge in the price of Bitcoin coincided with the huge capital outflows from the China and exchange rate changes for the renminbi against the dollar.

Lee said Central banks should admit the fact that Bitcoin is the new currency that is actively operating in China and around the world.  It is a new thing that the Central bank must pay attention and figure out what the regulation should be.

Story Credits: cnbc.com

Did you find apk for android? You can find new Free Android Games and apps.
View: 471

Bitcoin vs Litecoin – Which One is Better?

Want create site? Find Free WordPress Themes and plugins.

The hype of cryptocurrencies has increased dramatically over the past few years. Especially after the introduction of Bitcoin, back in 2009.

Bitcoin is the most popular cryptocurrency. The currency has ruled the crypto world undisputedly for many years. Even now, Bitcoin sits on top of the crypto pile. However, it is not the only king in the jungle anymore. The leading cryptocurrency is now facing a growing competition from other cryptocurrencies, Litecoin being one of the closest rivals of Bitcoin.

In this article, we have discussed the major differences between Bitcoin and Litecoin. Hopefully, you will be able to get a good idea about both the cryptocurrencies after reading this.

Litecoin:

Litecoin is one of the many names that received a lot of positive responses from the market.  It was launched in 2011 by its creator Charles Gee – with the aim of becoming the “silver” to Bitcoin’s “gold”. Like Bitcoin, Litecoin is also generated by mining. The motivation behind its creation was to improve upon Bitcoin.

Bitcoin:

In 2009, Satoshi Nakamoto launched Bitcoin as the world’s first cryptocurrency. It has no central authority and anyone can access it from anywhere. Bitcoins are ‘mined’, using computing power in a global network and are used to buy things electronically.

Bitcoin vs Litecoin

What is The Difference Between Bitcoin and Litecoin?

There isn’t just one, but many differences between Bitcoin and Litecoin. The major differences are as follows:

  • There are more litecoins available in the market, i.e. 84 million than bitcoins as Bitcoin will never exceed the limit of 21 million.
  • Due to the limit of bitcoins available, it is of much higher value as compared to Litecoin.
  • Litecoin has a much faster speed of transaction; only 2.5 minutes, unlike Bitcoin which takes around 10 minutes right now.
  • Both employ different algorithms, Bitcoin uses the longstanding SHA-256 algorithm, unlike Litecoin which makes use of a new algorithm known as Scrypt.
  • Another major difference is that Litecoin is a cheaper option for miners than Bitcoin. The former only requires a normal computer and an internet connection to begin mining, whereas the latter requires maximum computing power which is out-of-reach for an everyday user.
  • Bitcoin is relatively slow in confirming transactions, while Litecoin accepts a higher number of transactions due to its higher volume of blocks.

So, What to Choose – Bitcoin or Litecoin?

We know that both the cryptocurrencies have their own set of pros and cons. They even have several resemblances. No doubt, they are both accepted very positively all across the globe. However, the final choice is yours.

Good Luck!

Did you find apk for android? You can find new Free Android Games and apps.
View: 430

Ripple Becomes The Second Only Currency With A Market Cap Of Over $100 After Bitcoin

Want create site? Find Free WordPress Themes and plugins.

January 3 proved to be a historical day for Ripple. The crypto became the only currency after bitcoin to have a market cap of over $100 billion. At the time of writing, the valuation of Ripple is ~$121 billion.

$19 Billion Surge In 24 Hours:

Ripple’s native token, XRP, went up by more than 24 %, taking the coins value to $3. The huge value surge saw the valuation of ripple go from $95 billion to $116. As a result, Ripple further distanced itself from the third top cryptocurrency, Ethereum, and solidified its spot as the second most valuable crypto after bitcoin.

The daily trading volume of XRP is vigorously amassed in the South Korean market. Korbit and Bithumb are handling 40 percent of worldwide Ripple exchanges, representing more than $2.2 billion of Ripple’s daily trading volume.

On Bithumb, the second biggest digital money exchanging platform on the planet situated in Seoul, South Korea, Ripple stays as the most exchanged crypto, recording daily trading volume that is three times bigger than that of bitcoin.

Despite being the biggest and most liquid Ripple trade market, XRP is being exchanged with a high premium inside South Korean digital money market. On Bithumb and Korbit, Ripple is being traded at $3.5, with a 12 percent premium.

Brad Garlinghouse, the CEO at Ripple, and responsible for the advancement of the Ripple blockchain network, expressed that the “genuine use case” separates Ripple from other computerized assets.

However, as with any other digital money, Ripple met with some criticism. On January 3, P4man expressed that the vision of Ripple to develop into Swift 2.0 isn’t reasonable because for Ripple to become a Swift-like network, banks will need to pick up control over it.

“As for the moonshot of replacing Swift; most importantly, I have doubts over a worldwide agreement protocol being the correct approach. Banks presently control Swift. How likely is it they would give up control to a little startup and allow themselves to become indebted to its private currency, that they have no need for?” wrote P4man for Coindesk.

Story credit: ccn.com

Image: Google images

Did you find apk for android? You can find new Free Android Games and apps.
View: 447

What Are The Best Altcoin To Invest in 2017?

Want create site? Find Free WordPress Themes and plugins.

Here are some suggested best Altcoins you might consider to invest in 2017:

Ethereum:

Vatalik Buterin stated in late 2013, this blockchain based, public, and open source distributed computing platform is the great rival of Bitcoin. The Ethereum’s main target was to program required agreement into the blockchain that led to the introduction of a new smart contract hallmark. It has gone from $8 to $130 1st of January to 17th of June and its worth is $235.91 at the time of writing which is impressive.

Litecoin:

Litecoin is a peer-to-peer virtual currency which allows flash and almost zero cost subsidies to anyone who is producing it. This digital currency is a global remittance and an open source channel which is totally decentralized without any major credit. Math defends the arrangement and offers the people to regulate their own investment. The main features of Litecoin include advanced storage capacity and high-speed transaction verification times than the other digital currencies.

Dash:

Dash is the first decentralized and independent system which offer their users all that Bitcoin has to offer. It also presents their users some advanced capacities which include private transaction, instant transactions, decentralized governance. Dash offers the users the solutions for applying increased time to confirm a transaction, double spending dilemma, and secrecy concerns etc.

Ripple:

Ripple is a technology which allows the banks to send real-time payment worldwide across the network. It’s also a solution which exclusively relates to securing real-time payment among the banks at low cost, low risk, and a great speed. Some international banks such as Mizuho Financial Group, Siam Commercial Bank, UBS, and Fidor Bank have joined hands with the Ripple which show the remarkable potential of Ripple.

Primecoin:

Primecoin is an altcoin, produced by Sunny King. It finds the prime chains composed of Cunningham and the Bi-twin chain for proof-of-work, which may drive to some useful byproducts. These prime number chains consider being very important for the mathematical investigation.

Peercoin:

This digital currency does not have an inflexible limit on the possible coins like Bitcoin and Litecoin. Peercoin has designed to grow an annual inflation rate of 1 percent. If you have got a device which works for Bitcoin network then the same device will also work with Peercoin.

Dogecoin:

Dogecoin introduced on December 8, 2013. It made its online community rapidly and lead at a capitalization of 60 million USD in January 2014. Dogecoin project has a large number of the coin which is lower in value and suitable for transferring out the small transactions. It provides faster transaction and it’s also extremely cheap.

Feathercoin:

Feathercoin offers borderless transactions by using an end to end technology. It has enough uniqueness to bypass banking and it is one of the best features of Feathercoin. Conflicting to other digital currencies, it revives on regular basis to combine additional features and developments and providing a safeguard for the fork.

Monero:

Different from other digital currencies which are challenging to Bitcoin, Monero base on the CryptoNote protocol. It occupies basic algorithm irregularities and restating to the blockchain complications. It offers the characters with the Ring Signatures and Stealth Addresses. Monero has also a discreetly fleet production arcs.  Monero with a smaller inflammation of 12% per year is already acceptable and it’ll surely a risk for the Bitcoin rank in DarkNet markets.

Antshares:

Antshares is the newest platform to make a call on the market with a shouting cap of more than $7 million at the issuing time. It has produced some serious partnership with different chief multinational companies in the world as Alibaba.

Did you find apk for android? You can find new Free Android Games and apps.
View: 397

Why Bitcoin Is Wonderful (In 2 Minutes) – Vanessa Collette With Mike Maloney

Want create site? Find Free WordPress Themes and plugins.

Did you find apk for android? You can find new Free Android Games and apps.