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2018 doesn’t seem to give a sign of relief to the cryptocurrency community as a latest press release by the RBI (Reserve Bank of India) has stirred up an unrestrained response, which is leading the cryptocurrency enthusiasts in a panic. RBI has been releasing warnings to the crypto-community related to the cryptocurrency in India and its risks, including:

  • Potential financial risks
  • Operational risks
  • Legal risks
  • Customer protection
  • Security related risks

cryptocurrency in indiaComing off the haze about the stance of government in distinguishing the ability of Blockchain technology and discovering its usage for abetting digital economy, the Finance Minister of Hon’ble in his ‘budget’ speech specified that cryptocurrencies are not identified as a legitimate tender, leaving an inexplicable uncertainty. Many in the crypto-community hailed the indication of “crypto” in the speech and took it to be an indirect sign for sanctioning the cryptocurrency trading, while others were nervous on the investment’s fate.

Risks Involved with Cryptocurrencies

Subsequently, the fury of RBI has stumbled now, and the crypto community has caught in another swirl of legal haphazard. The RBI’s press release accredited the potential of Blockchain in developing the efficacy of the financial system, though, at the same time it highlighted the perils that are involved with cryptocurrencies, such as:

  • Consumer protection
  • Market integrity
  • Money laundering

Furthermore, the RBI notified that the entities controlled by it will be prohibited from offering facilities to business entities or individuals, dealing with cryptocurrencies. Therefore, cryptocurrency investors won’t have the ability to transfer currency from their bank accounts to cryptocurrency trading wallets such as:

  • Zebpay
  • Coinsecure
  • Unocoin

Restriction on Banks

If it is supposed that the RBI pursues to save the over-all public from such perils, then it must specify the related reasons which turned out to be ground for issuing such a draconian direction. Quite the reverse, the RBI has put a total restriction on the banks to deal with business entities as a whole. The direction of the RBI pursues to paint all the entities in the cryptocurrency trade with the same brush, which can’t withstand the test of legitimate authenticity.

It is usually believed that the such encounters give escalation to the chances of development. At this current stage, the cryptocurrency community is required to keep patience and wait for the regulation to take its particular course as per other regions where the cryptocurrency is struggling to survive. The relating events will surely bring out the innovative avenues for the crypto-world in India.

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Introducing Blockchain-Based E-Voting system in Moscow

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It was in 2014 when Moscow’s Mayor, Sergei Sobyanin launched an innovative Active Citizen app. This app was actually an e-voting platform designed solely for the residents of Moscow to vote on municipal projects pertaining to non-political city decisions, e.g.; naming of subway stations, setting up speed limits, plotting of bus routes, replacing the building’s entrance door or even hiring a new management company etc.

The Active Citizen app was a huge success since its launch, more than 2,800 polls were being administered and over 2 million users participated via the app. But according to some critics this app grew vulnerable to manipulation with the passage of time.

That’s why, Moscow officials announced that they have piloted the Active Citizen onto the blockchain technology in order to minimize the vulnerability issue.

Usually, the term of blockchain is referred to the cryptocurrency transactions. It is a sort of a digitalized and decentralized online database pertaining to public ledger of crypto transactions and interactions. Though specific for tracking secure financial transactions of cryptocurrency, it will now also be used in the e-voting platform of Moscow.

blockchain based e voting

What makes it a safest choice?

Russia’s National Settlement Depository (NSD) has successfully tested this blockchain based e-proxy voting system. This voting system is comprised of the following steps:

  • In the first step a Bondholder will pass vote to a nominal bondholder (NB)
  • The Nominal bondholder will in turn submit that vote to the blockchain
  • The designated Counting commission will count the votes and submit their results to the blockchain
  • Bondholder can latter verify whether the votes were counted correctly or not.

Hence it can be easily concluded that the process of blockchain based e-voting will resemble the secure crypto transactions to a great extent. Once the vote will be placed, it will be listed in a ledger consisting all the votes taken place across a node-to-node fully secure network. So, there will be no chance of data loss, fraud or third-party alteration once the vote has been casted.

In other words, blockchain is becoming a hallmark of digital accountability and security. It comprises of such a complicated mechanism of digitized security that it is almost impossible for the general public to ‘’hack’’ it in their traditional way.

According to some experts the use of blockchain technology will improve the transparency of e-voting system in Moscow and it should also be tried in the general elections as well.

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Make money with bitcoin

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Make money with bitcoin

Once again cryptocurrency becomes the center of the interest of media and other financial institutions. Earning from bitcoin is not that much difficult. Following are some best ways to earn money from bitcoin.

Mining

Bitcoin mining is costly because of high electricity billing. Therefore, increasing difficulty rate and halving of bitcoin blocks increase the demand. While 21 million is the total supply of bitcoin and mining of coins is still held at large scale with sophisticated equipment. If you are living luxury can easily mint the coins and cash it out.

Mining pool  

Mining of bitcoin through an individual is impossible. If anyone wants the profit over the short period, he/she needs to join the bitcoin mining pool. Miners in the pool are able to use their resources together by sharing their hashing power. Whereas, divide the amount of reward equally according to the share in solving blocks. This platform is also encouraging the small-scale miners to be active in mining activities.

Bitcoin calculation can be complex, due to which pay-per-share offers an instant payout for each share which is solved by the miners. Whereas, in double geometric method operators normalize the payments by receiving a portion of payouts in short rounds and giving back it during long rounds.

Few popular mining pools are;

  • Antpool the largest bitcoin pool controlling 30% of the network’s hash rate.
  • BTCC controlling 15% of network hashing rate.
  • slush pool, the first mining pool containing the 7%.
  • Eligius and bitminter containing the1% hashing power of the network.

Faucets

Most of the faucets are making money websites by placing a different kind of advertisement on their pages. Those, who visit these sites to answer short questions and or solve captchas will receive segment of what the sites collect from advertisement. In most of the cases, each reward timing is about five minutes. Anyone new to the bitcoin can get bitcoin from these faucets.

With the goal to advertise the digital currency among the readers, CCN provides its own faucets. Whereas, CCN will provide the bitcoins free to the reader.

Free bitcoin, bitcoin zebra, moon bitcoin, pocket dice are few Satoshi faucets.

Playing games

A game name oh crop! a game much like plant vs zombies in which player have to defeat the devil plants. Is one the game who come to the bitcoin android space. Where the player receives the payout by watching a video advertisement. There is a number of Sites, who provide the games to earn bitcoin and cash it out in a market.

Reading book is a good habit

PaidBooks.com has the same functionality as the regular faucets have. It pays 400 Satoshi over every 10 minutes with 800 jackpot of Satoshi. This more than free faucets rate.

 Short summary        

There is a large number of methods are available to earn bitcoin free. Once you have bitcoin means you can do transactions through bitcoin or transfer it to fiat money. Above all are few ways of earning money from bitcoin. But be aware of scams.

 

 

 

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Bill Miller and Josh Brown – The Modern Wall Street Professionals to Test the Bitcoin Waters

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Some famous names in the financial or economic industry are buying Bitcoin which is a good sign for Bitcoin.

Bill Miller:

Bill Miller is one of the renowned names in Bitcoin community. According to Forbes report on Tuesday, Bill put 1% of his net wealth into Bitcoin in the year 2014. The report reveals that the cryptocurrency is one of the top properties in Miller’s $120 million hedge fund.

Showing its image of volatility, Bitcoin fell in January 2014 from a peak of $1023. According to CoinDesk, on October 2014, it was just around $287. That’s the reason which puts the return of Miller’s Bitcoin anywhere from 126% to 707% – based on the price of Bitcoin which was $2315 on Wednesday.

Josh Brown:

The other name is Josh Brown – Chief Executive of Ritholtz Wealth Management and a CNBC contributor. In a blog post on Tuesday, Josh stated that he used Coinbase to purchase Bitcoin by a “Small Amount of Money”.

He said I think I have been through proper seasoning at this point. In case it does not drop this year after the fork, the developers argue that this could split Bitcoin. He revealed that it is going to drive mainstream among financial pros. Brown said: My main thing is, this would not go away”.

If a greater number of developers don’t favor an upgrade system for the Bitcoin, the cryptocurrency may split on 1st of August. However, a majority of Bitcoin miners have started to show their support.

Lastly, the announcements of this week follow the Standpoint Research’s Ronnie Moas. Ronnie Moas purchased a small amount of Bitcoin and thinks that it could hit $5,000 within a year.

 

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Cryptocurrency Market Continues to Improve as Ethereum Records 6.06% Increase

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Multiple major cryptocurrencies, including Bitcoin and Ethereum, have recorded major gains, as the cryptocurrency market continues to recuperate at the rapid rate over the past 24 hours.

Ethereum’s Hefty Gain:

The native cryptocurrency of Ethereum network, Ether, demonstrated an astounding 6.06% increase in the price over a night and is currently trading at $1,224. The recent surge in the Ether’s price can be attributed to the progress in the Ethereum open-source development community that has directed in scaling the network.

Over 899,005 transactions have been settled by Ethereum within 24 hours, indicating a daily transaction volume that is seven times larger than that of the Bitcoin network.

There’s an increase in the daily transaction volume of the Ethereum which indicates the exponential rate of decentralized applications (launched on the top of the Ethereum Protocol). Over the past few months, applications like CryptoCribs, EtherDelta, Radar Relay and 0x have gained a considerable amount of active users.

Cryptocurrency Market

Coinbase CEO, Brian Armstrong, also commended CryptoCribs, which is a decentralized Ethereum-based Airbnb like platform with a non-ICO model. It is quite hard to find commercially successful decentralized applications in the cryptocurrency industry, that had not conducted ICOs. This is because ICO has become an easy way of cash grab for the actual developers.

Luis Cuenda, who is a co-founder of Aragon, said in July of 2017, that he literally doesn’t know any Ethereum developer who’s not a millionaire because of the ICO market. Cuende noted manifestly, that there are many developers who are trying to take advantage of this opportunity because they have heard by many that they might make a lot of money from it, and that’s why a large-scale of investors are trying to dive into the Ethereum market.

Furthermore, as we can already see that the scalability of the Ethereum network continues to recover through advanced solutions such as Sharding and Plasma, Ethereum will be able to offer an improved ecosystem and infrastructure for decentralized applications.

The market evaluation and price of Ethereum uniquely depend on the performance and implementation of decentralized applications that are launched on the Ethereum protocol. The price of Ether will imitate the success of decentralized applications if they continue to perform well.

Market Trend:

Over the past week, the cryptocurrency market has shown positive signs of recovery. To bring the market to its previous highs, major cryptocurrencies in the global market like Ethereum, Ripple, bitcoin, Bitcoin Cash, and Cardano will have to record some hefty gains in the upcoming weeks.

However, cryptocurrencies like Bitcoin Cash and Ripple are down by almost 50% from their “all-time highs” and with the exemption of bitcoin and Ethereum, most major cryptocurrencies have not performed so well.

Based on multiple factors like the entrance of institutional investors through bitcoin futures and the acceptance of cryptocurrencies by large-scale financial firms which also includes the Robinhood, analysts are still enthusiastic about the short-term growth trend of the cryptocurrency market.

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‘Clearly Canadian’ Is Now Accepting Bitcoin!

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Clearly Canadian accepts bitcoin

Brand History:

Richmond Hill, Clearly Canadian is a well-known brand in North America. Basically, it is a multi-SKU premium beverage brand, produced by The Clearly Food & Beverage company of Canada. The brand history started in 1987 in British Columbia, Canada. Therefore, it is well known in North America, Scandinavia, and also in different places in Europe and Japan. Clearly Canadian is the 30-year-old company whose production is very famous across the globe. Now, they are going to accept the payments in Bitcoin Canada.

Bitcoin’s Time:

Clearly Canadian knows the evolution of digital technology. At the same time, keeping in view the market trend. The company is going to starts pre-sales to the Bitcoin world. As the Clearly Canadian’s Bitcoin campaign manager Mitch Callahan says, “Just as Clearly Canadian pioneered the new age beverage industry in the ‘80s and ‘90s…bitcoin, in a much more profound way, is poised to change how we all transact business on a global scale and in our daily lives. Clearly Canadian finds that truly exciting and we are proud to be a new emerging member of the bitcoin community.” In addition, manager says, “Online virtual currencies are clearly here to stay – no pun intended”.

Related: Buy Bitcoin  Canada online in few easy steps

The worldwide consuming brand needs high production. Whereas, the company producing exceed in 5 million cases annually. Clearly, Canadian managers said, “We’d like to pre-sell at least 25,000 cases of Clearly Canadian online to the global bitcoin community. personally, I hope we double, triple or even quadruple that goal.  Let’s see what happens. Pricing will be in dollars. Whereas, a transaction in bitcoins through BitPay.The leading Bitcoin merchant processing platform. We have a wish to be a long-term merchant in Bitcoin transaction consumer goods. Hopefully, the new currency’s volatility will remain low facilitating greater adoption”.

In response to Canadian manager’s statement. CEO of BitPay Toni Gallipi stated: “Having a globally recognized consumer brand such as Clearly Canadian Bitcoin join the Bitcoin community is a powerful statement about the increasing popularity and growing base of Bitcoin merchants and users. Many are watching the Bitcoin market closely.we hope that this is the first of many established brands. That see the benefits of adding bitcoins to their payment options. We are happy to have Clearly Canadian on board. Accordingly, wish them very best of success in its campaign”.

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