The crypto market encountered an intense drop this Friday and Saturday. Coins were losing value with only three of the main twenty by market capitalization showing a development of more than 10 percent: Cardano, Qtum, and Neo.
Bitcoin also dropped from a Friday high of $15,266 to as low as $12,350 on Saturday. The previous two weeks have been extremely unstable for the first cryptocurrency, as it has accomplished an all-time high of $20,000 on Dec. 17, 2017, just to hold it for a single day and then losing around 32 percent of that value during the following couple of days.
The most recent fall is the continuation of that trend and there seems to be no recovery in sight as of yet.
Ripple, which has quite recently displaced Ethereum as the most elevated altcoin by market capitalization, has comparably dropped by 20 in the past two days. In spite of experiencing a powerful surge this week, it hasn’t been able to evade the “crypto slaughter.”
Luckily for holders of Ethereum, its drop has been less prominent. A tumble from $769 to $685, constituting only 11 percent loss of value, looks substantially more favorable to the performance of Bitcoin and Ripple. Particularly if you think about the slight recovery of 2.22 percent over the last few hours.
Overall, 2017 has been a good year for Ethereum, as it rose from $8 to over $750.
Other cryptocurrencies such as Dash, Monero, Litecoin, Bitcoin Cash, etc. have also suffered major drops over the weekend. However, the year 2017, for the most part, has been positive for the vast majority of cryptos and the crypto-growth in 2018 is expected to continue in the similar fashion.
Satoshi Nakamoto familiarizes Bitcoin anonymously around the world. The online digital currency was published in late 2008 on cypherpunk mailing list in its white paper. Furthermore, cryptographer follows the same method in the 1990s.
However, bitcoin has few online, offline and social media forums. We will discuss some top bitcoin forums in this article.
Online Bitcoin Forums:
A passionate community of the users, developers, businesspersons, investors follow the expansion of the bitcoin. Members of this community have a discussion about market trend, share their ideas regarding digital currency on both online and offline platforms. Following are few online platforms for the discussion.
The Bitcoin Mailing List:
Propagation of the bitcoin adoption among the public needs more development. Basically, they need a platform to share their ideas and developers start working on its core software to provide such comfort to the users. In 2011, bitcoin mailing list introduced on Linux foundation server especially launched for this purpose.
Where everyone has the opportunity to join the list. While brokers only allow posting on topics.
A bitcoin platform, where bitcoin community is free to have a discussion about the Bitcoin technicalities. This forum was the part of the bitcoin.org in early 2011. Sirius owns this domain and admin goes by Theymos.
This platform is common for the signature campaigns or promotion messages attach to the comments by users. Those who meet the requirements for this feature, take compensation from the advertisers.
News accumulating site, which allows its users to arrange communities such as subreddits around topics of interest. Two most common subreddits such as r/Bitcoin and r/BTC, among the users, with 230,000 and 36,000 subscribers. r/Bitcoin was the one-man show in late 2015. But, when scaling debate occurred, facilitators amended the discussion that supported Bitcoin XT. In addition, an increase in block size slightly than second-layer solutions. Then, few members launched r/BTC to reclaim their voice.
A discussion site, where you are free to talk about the Bitcoin and have a lot of discussions about it. You can visit the site http://btcwarriors.com/
Bitcoin has covered all the aspect of the interest. It has the community channels, groups, lists, pages on all well-reputed websites. A large number of the companies have created channels on various platform such as slack to cover all the aspects of the cryptocurrency.
A single click on Facebook or Linked in will brings a wide information in front of you. Whereas, for other including WhatsApp, Telegram or slack – you need a group or network to proceed.
A forum where developers teaming up to work on the projects. Bitcoin has a source on the platform with the thousands of the commits from bitcoin core developers. In short, this is a place where only developers allow for underwriting the discussion by using their cryptographic code.
Three well-known Bitcoin forums provide the physical meetups, conferences, and hackathons.
Bitcoin community has active meetup groups around the globe. Meet.com facilitates such type of groups. Member of this bitcoin trading platform has the meeting once or twice in a month and share their experiences, market trend and current situation accordingly. In addition, few groups have to launch the pads for startups, a marketplace where anyone has the total opportunity to buy and sell physical bitcoin.
By attending the conferences, you have the opportunity to interact with others business holders, developers, talk persons from different communities.
Hackathons were organized and developed by Bitcoin software developers and contributors. Contributors use them to showcase their innovations and compete. You can easily find such type of events around the world.
A Hong Kong merchant who correctly predicted bitcoin value’s dramatic year-end rise trusts that its rally is a long way from being done.
Dave Chapman, managing director of digital currency exchanging firm Octagon Strategy, told that numerous investigators laughed at him when he anticipated the bitcoin cost would dramatically increase in the final quarter and reach $10,000 before the finish of the year.
“I was cited back in August when bitcoin was trading at around $4,000 that we would have a five-figure headline before the current year’s over,” he said. “I think many individuals thought I was insane, many individuals laughed at me, but that is OK.”
However, regardless of condescending looks, the bitcoin cost has met — and surpassed — Chapman’s expectation. At the time of writing this article, bitcoin was trading at $16,615, a 20 percent rally boosted by the dispatch of CBOE’s bitcoin futures contracts.
The bears credit this development to a speculative frenzy, and Chapman admits that he is somewhat worried about the market’s current “warmth”. However, he denies that bitcoin’s value is purely from speculation.
“Bitcoin permits the quick exchange of significant worth from one individual on the planet to some other individual on the planet, and it does that without a middleman. That is its value,” he said. “If you take a look at bitcoin and its impact financial industry, it’s clearly not that crazy to believe that bitcoin could be a greatly enormous disruptor to finance.”
Chapman said that the launch of bitcoin subsidiaries is an indication that digital currency is “growing up,” and he included that he would not be shocked if the bitcoin cost comes to $100,000 before the finish of 2018. Nevertheless, he warned that winding up too focused on digital currency costs will make individuals lose sight of the revolutionary aspects of the crypto technology.
“The cost to me is presumably the most uninteresting part about bitcoin. I’m more excited about the applications and more amped up for what this means for individuals who lack access to financial inclusion,” Chapman finished up. “If we concentrate on the cost, we’re forgetting about the bigger picture.”
It’s been over 8 years since the bitcoin first came into circulation. However, the general public and press are still confused as to what is Bitcoin and how to use it. The result of this is numerous myths about the currency.
Bitcoin is a digital currency. It’s different from traditional money in many ways, due to which it is often considered to be a difficult subject to grasp because it requires a basic understanding of many different areas of study such as cryptography, economics, and computer science.
In this post, we have discussed five popular myths about Bitcoin that still spark a debate in 2017.
Is Bitcoin Anonymous:
In spite of the fact that Bitcoin is regularly referred to as the currency to make anonymous transactions, the correct word to use would be “pseudonymous”. Meaning that a user can have one or multiple identifiable addresses. However, nobody essentially knows who is behind each address.
With Bitcoin, each transaction is stored on a public ledger and anyone can view this ledger on Blockchain. This ultimately makes the transactions more transparent for the users.
It’s Used by Terrorists:
Our media has completely ruined the image of Bitcoin. Whenever the currency is brought up in a television show or movies, it’s almost always being used by some kind of serious criminal or terrorist.
Although the user anonymity may account for some illegal transactions, there is no confirmation of terrorists using Bitcoin on a noteworthy scale.
The Currency Is Dead:
One of the most common myths about Bitcoin is that it’s dead or no longer in use.
In reality, Bitcoin is currently going through its most successful phase in history – at least according to the number of daily transactions on the network, which keeps on growing each day.
At the time of writing, one bitcoin was worth $1095.
Think the currency is dead? Think again!
It’s 100% Transparent:
Another myth about Bitcoin is that it’s completely transparent. But this is absolutely not true.
The true identities of bitcoin users – be it individuals or an organization – are kept secret and never publicized.
Also, there are several privacy-enhancing-services, for example, JoinMarket, which permit clients to upgrade their security on the blockchain.
If someone asks what is bitcoin, the perfect description would be: it’s not completely transparent nor anonymous. It’s somewhere in between the two extremes.
Bitcoin Is Useless Due to Its High Volatility:
Because of high instability in value, Bitcoin is frequently thought to be useless by a majority of the population. While Bitcoin has had a significant volatile history, the currency has undoubtedly been moving towards stability since the mining of first blocks in 2009.
Having said that, relatively few individuals are attempting to utilize Bitcoin as a unit of account at this point. It is rather viewed as a store of value by those who hold it.
These are some common myths about Bitcoin. If you go into the market and dig up the details, you will realize that most of them are completely false and has no solid base to stand on.
In all, Bitcoin is a safe currency. The use of it increasing each day as several corporations, banks, retail stores, and outlets are starting to accept Bitcoin as a payment. This, as a result, has seen an ultimate rise in the value of the currency.
Coinsquare is a Canadian crypto exchange which has launched its very first television commercial, as it’s looking forward to extend its customer base before divulging to public by the end of this year.
The exchange, Coinsquare is sometimes called “Canada’s Coinbase” and has launched an ad on Monday that will start running on television later this week. According to the advertisement, Coinsquare is the most secure platform of Canada for trading cryptocurrencies, and also, the advertisement attempts to initiate the reputation of exchange as a reliable and trustworthy option to the scams and other warning tales that fill the space.
Also, the timing of the ad campaign is eminent, since the interest of consumers in cryptocurrencies has declined in the past few months. But, it relates with the ambitious plans of Coinsquare to continue its development, internationally and as an IPO (initial public offering).
At the beginning of this year, the exchange, Coinsquare unveiled that it intends to go public in the month of September by listing on the Toronto Stock Exchange. The company expects that it will raise almost $120 million (C$150 million) and after that, it will use those funds to finance expansion into the United Kingdom and United States.
Cole Diamond, the Chief Executive Office of Coinsquare told bloomberg, back in January that: “The United States and the UK market are next… We believe that we will be a strong competitor to Coinbase and other exchanges in the US by the end of the year.”
While Coinsquare considers itself as a strong competitor to Coinbase in the future, at this time, it processes quite less trading volume than its correlative south of the border. According to CoinMarketCap, at this time, Coinsquare is ranked as the 95th-largest exchange of the world, with daily volume of almost $1.7 million. Amid exchanges that provide CAD trading pairs, it is ranked on the third position, behind QuadrigaCX and LakeBTC .
Although it isn’t the first cryptocurrency company that’s going public, however, Coinsquare is going to be one of the first to do so via conventional means, which offers an extensive regulatory analysis process. Many have done the same through RTOs (reverse takeovers), where a firm joins a company that is already listed on an exchange and after that, it modernizes its ticker symbol as well as its name.