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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.

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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Bitcoin Lending – What Are The Best Peer to Peer Bitcoin Lending Sites?

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Best Peer to peer lending  and Bitcoin p2p lending platform is having a wonderful year. You may have an idea that lending club is breaking $1.9billion in a quarter. During the same time period, in new loans, Prosper issues $912.4 million. Which shows the 147% increase per year.

According to the P2P finance association, UK is with the $792 million. So, you need to take part and make a profit from the p2p lending boom.

First, you need to select a well-reputed site for Bitcoin lending. And, say happily goodbye to banks or governmental terms. Here, in this article, you’ll read about few lending sites. Wishing you’ll get some idea about lending.

Bitbond:

Bitbond offers the highest interest rates to its users while using Bitcoin payments at zero fees around the world. This table will show you the comparison fee structure of different platforms.

Besides these token fee, Bitcoin peer to peer lending offers video tool to provide the transparent system. Whereas, average interest rate of Bitbond is 25% and you have the option to invest up to $2.50.  Stu Lustman’s quarterly returns report is given below if you want to see the comparison between fiat and Bitcoin ROIs for lenders.

Lending Club:

Lending Club is the most favorite among peer to peer lending platforms. In additions, impressive ROIs is coming in at 11.30%, 13.3%, and 10%.

An average investor wants to enjoy 6-8% ROI. The lending club also offers you the investment of $25 and have the good scoring system.

Prosper:

Prosper faces return issues at the start but with peer to peer lending platform it enjoys the progress in the recent year. Prosper paid more than $140 million to its investor with average ROI between 5-9%.

Prosper assessment of borrowers increases its reputation among the people. In addition, a credit score of prosper for borrowers is remarkable 700.

Upstart:

Upstart’s characteristics are different from the lending club and prosper. That is when a loan defaults it is the investors who take the hit not the platform. Here are few shop related products of the Upstart.

In the case of loan declares as default during the loan term, Upstart will collect the earned revenue and refund the money to the investors. In addition, the Organizational fee ranges between 1% and 6% with the ROI 4-8%.

Peer Form:

Oldest site in peer to peer lending sites list is peer form. Distinct features of the platform include their standing on certified depositor. Peer form offers three-year loan terms with 7-28% interest rate. Whereas, the borrower needs minimum 600 FICO score to apply.

Bondora:

In Europe, Bondora is the most exciting peer to peer site among the people. Yield return of 9000+ makes it the center of the interest. Furthermore, Claus Lehmann with 26% ROI on Bondora is the most prominent, who has documented his returns from European lending platform. This lending site serves borrowers of the three countries with €45 million in the loan.

Zopa:

Zopa is the first and foremost peer to peer lending platform in The United Kingdom. The organization issued $408 million loans in 2014. In addition, with current returns of 0.7%-0.8% Zopa still away from ROI 9%.

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A look inside America’s largest Bitcoin mining operation

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Dave Carlson, who owns America’s largest bitcoin mining operation could be mining as much as $8 million worth of bitcoin every month. However, Dave dismisses this figure as ‘exaggeration’ and ‘fake news’ created by media.

With the mainstream media proceeding to paint bitcoin mining operation as modern age gold rush, Carlson’s story has been of particular interest, regardless of whether it hasn’t generally been put in the correct context.

To be fair, though, evaluations of his potential earnings don’t appear to be far-fetched when you consider he went from driving a $300 Honda to directing the largest bitcoin mining operation in America in simply under a year, and that bitcoin mining is still broadly misunderstood.

All things considered, when the facts are examined, his business is no less impressive.

Tags: Bitcoin videos, bitcoin mining

To get to the truth of his story, CoinDesk addressed Carlson about the increased attention his Washington-based bitcoin mining operation (he refused to disclose the location) is getting, how he assembled the organization and how it earned $8m a month when bitcoin costs were close to their peak.

“I used to spend long hours configuring servers, assembling rigs, and connecting cables. I now have a technical team that covers assembly, deployment, facilities, optimization, and management. I invest the greater part of my energy dealing with the bigger issues the organization faces in regards to future development and operations.” said Carlson to sum up his business growth.

 

Credits: CoinDesk.com

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Coinbase Buy Bitcoin: Bitcoin Cash Launch Delays Because Of Overwhelming Demand from Buyers

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Coinbase is a secure online platform for buying, selling, storing and transferring digital currency and it’s the most popular way to buy and sell Bitcoin, Ethereum and Litecoin.

Last month, few issues have been experienced on Bitcoin’s GDAX exchange during the launch of Bitcoin cash trading. Coinbase has blamed exceptional demand from buyers for these issues. On 20th December, the firm added support for bitcoin cash, however, Coinbase moved to disable trading of its newest assets after this unexpected news.

Adam White, who’s the manager of GDAX said in a blog post that they did their best efforts for creating a fair and orderly market, however, the launch of bitcoin cash didn’t go well and they also understand why the customers are so upset. He also said that they’ll share a detailed timeline of events and other additional information about the decisions for improving the future launches.

He added, that on 3rd August 2017, it was announced that customers could withdraw their bitcoin cash (BCH) balances by the 1st January 2018. Later, the decision was deferred. After monitoring the Bitcoin Cash network, some factors were observed such as; developer support and network security. And in the end, it was concluded that the bitcoin cash met the standards of Digital Asset Framework so it could be traded on GDAX.

According to the blog post, in the 2 minutes and 40 seconds after BCH/USD trading started, almost 4,000 orders were placed, in which 3,461 matches occurred, and trading volume got to $15.5 million. Furthermore, he added, the low cash flow also triggered the price of the cryptocurrency to leap as high as $9,500, a lot higher than listed on other exchanges.

The constant liquidity complications made the relaunch of BCH/BTC and BCH/EUR books to be postponed until the end of winter holidays, when there would be higher possibility of meeting liquidity standards that are needed to enable trading. White accepted that regardless of the firm’s best efforts to create an impartial and methodical market, the launch did not go as it was expected.

On 13th November 2017, employees were informed about the decision to support BCH trading and were overtly verboten from buying and selling BCH. All employees were also forbidden from sharing this information with anyone else outside of the Coinbase. Coinbase has also announced that it will start an inquiry if any of the employees have desecrated its insider trading rules.

It’s not the first time that price movements have seemed to anticipate changes in the exchange to list new cryptocurrencies. According to an information from Coinmarketcap, the prices of the cryptocurrency began increasing at least a day in advance. Only four assets have been listed by Coinbase on its GDAX exchange, which offers order, bitcoin cash ether, order books for bitcoin, and litecoin.

Well, the move to list bitcoin cash was different and unique, as it effectually gave all the customers of Coinbase’s GDAX exchange an amount of bitcoin cash equivalent to the amount of bitcoin they detained on the exchange at the time, when the new cryptocurrency network was formed and Coinbase has also specified that it will definitely look for relaunching bitcoin cash trading later.

 

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Bitcoin exchange, BitPay announces its support for SegWit

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BitPay is an exchange platform, that allows its online traders to accept bitcoins. They just announced on their company blog that it now supports SegWit2x. BitPay is assuming that the block size will increase now that SegWit2x has been activated. This is what the founder Stephen Pair had to say:

“We need one Blockchain to serve as a backbone. That Blockchain must be secure and its asset must be liquid. The backbone network must also be highly available. This high-availability requirement means that we must remain in sync with the hash-rate majority chain. Block production on a minority fork of Bitcoin would be inconsistent, and it may cease to operate without emergency measures. Such a service interruption is unacceptable for us and for our users.”

It has been acknowledged that the Bitcoin Core does not support SegWit2x.

However, Breadwallet has also followed BitPay by showing support to the majority chain and accepting SegWit2x.

News Credits: cointelegraph.com

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Goldman Sachs – “Most Cryptocurrencies Will End Up Hitting Zero”

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According to Goldman Sachs, the cryptocurrency markets will not recover from their present correction. On 5th February, Steve Strongin (Goldman Sachs head of investment research) said, the high correlation between several cryptocurrencies makes him really anxious. Some currencies that do not survive are expected to trade to zero due to the lack of intrinsic value.

Strongin is worried about the possibility that maybe one or a few of the existing cryptocurrencies could ascend from the speculative bubbles, just like the crypto equivalents of Google or Amazon. However, he said that he doesn’t think that most of the coins will ever recuperate to their all-time highs.

There have been many questions arising like, is there any cryptocurrency that’ll be like Google or Amazon? Or are they going to end up just like the other now-defunct search engines? Strongin said that this doesn’t mean that the prices of cryptocurrency cannot increase at all because they are in a speculative bubble at this time. But at the same time he said, that most of the cryptocurrencies might bounce back to their all-time highs, but some of them are never going see their current peaks ever again.

This clearly shows that the speculative bubble is coming to its end and rather than as a collective asset class, investors are going to start judging the cryptocurrencies from their individual merits as a lot of casual retail investors are already familiar with it. It also seems like the ICO (initial coin offering) success will suddenly come to its end.

Strongin said that the winners-take-most sight of the market is not very unique to Goldman Sachs. On Wednesday, the founder of DCG (Digital Currency Group) Barry Silbert, offered the same remarks at “Yahoo Finance All Markets Summit: Crypto” with explicably more positive stance on the entire industry.

According to Silbert, a huge majority of crypto-assets are facing a binary outcome. They are either going to become extremely valuable or they are going to become worthless. He added, this is why Grayscale Investments (a DCG portfolio company) launched its newest product, a fund related to crypto-asset investment and it holds the market cap (weighted positions) in the most major five cryptocurrencies and balances it again quarterly to imitate market movements.

Many other experts have also warned the investors on cryptocurrencies. Nouriel Roubini, who’s a well- known economist said on Tuesday, that the price of bitcoin would also crash to zero. Warren Buffett also said in a recent interview that cryptocurrencies are definitely going to have a bad ending.

 

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