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Nowadays, everyone is following the cryptocurrency trends, whether it’s the art world or the gaming world. Even some of the app developers have also jumped onto the trend of cryptocurrencies to attract people to their work.

Many gaming companies seem like they have found a technological link to the digital currency, which sets up as a prize for the market, globally. They can benefit from the publicity; however, they can also attract a huge audience with an attractive prize.

crypto prizes

Crypto Prizes in Digital Paintings

Artist Marguerite DeCourcelle hid Bitcoin prizes in digital paintings on literally three occasions for the public to discover them. When the key to the Bitcoin wallet was initially placed into the digital painting by DeCourcelle and her team, the wallet had almost 4.87 Bitcoins, which had the worth about $1,400 at that time.

Gaming Companies Hiding Cryptocurrency

Well, gaming companies are also doing their best to hide cryptocurrency in their games especially for those who get to the end first. Let’s take an example of Montecrypto: The Bitcoin Enigma! This game features a digital world player, solving 24 ‘enigmas’ to claim the last prize of 1 Bitcoin. The developers of this game are anonymous and they wish to remain the same ’til the prize is claimed. Another game is Neon District that is going to be launched soon and just like other crypto prizes games, it will have a crypto prize at the end.

Prizes are very commons especially when it comes to games. But, the attraction of Bitcoin has started to spread to the likes of paintings. So, what’s the appeal of joining a “Bitcoin-based prize” game in which someone can beat you quite easily? Well, the main reason behind it is that Bitcoin media comes with lots of hype and publicity.

Another Scam?

According to DeCourcelle,

DeCourcelle and her team have built up a respectable name in regards to this small, yet growing, aspect of cryptocurrency. But, at the same time, she admits that no matter whether a person or a company offers Bitcoin prizes, or ICOs (Initial Coin Offerings), reputation and trust is supreme.

She stated:

“We’re working on trustless systems that still rely heavily on trusting people based on social merit or reputation-based systems. Most ‘giveaways’ these days do not turn heads. In the old days, you could tweet – “1 Bitcoin for one lucky follower” and include a fancy gif. This doesn’t work anymore.”

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History of bitcoin

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Bitcoin is a digital currency, world’s famous cryptocurrency. Who creates Bitcoin? Its answer is not that much easy. while the identity of the creature of bitcoin is still a mystery.  In last of 2008, someone going from the username Satoshi Nakamoto, release a white paper to cryptography list. The 9-page paper was entitled” Bitcoin, peer-to-peer electronic cash system”. That day and today, we do not know the creature, is a personality or a team work???

With pseudonym creature, bitcoin asserts itself. In the meantime, Bitcoin creates a strong impact on users of the cryptocurrencies’ world.

Now, here I am going to share bitcoin price history, its origin and how its start work, and rises as a star in cryptocurrency world.

2007:

Basically, working on bitcoin concept was started in 2007. If we consider, that Satoshi Nakamoto is a legend. He starts working on this concept to provide fair and free transaction system. While he was on record as living in Japan.

August 15, 2008:

The allege originator of Bitcoin concept denies the connection with Satoshi Nakamoto. Even so, Neal Kin, Vladimir Oksman, and Charles Bry file an application for an encryption patent application.

A great silence…………………………

August 18, 2008:

18 August 2008, anonymousspeeches.com register a domain, named bitcoin. A site, allows users to join and do transactions. This was the birth of Bitcoin in the real world.

 October 31, 2008:

Nakamoto publishes the design white paper in cryptography list. Whereas, the paper includes that the bitcoin currency is going to solve the issue of currency being copied.

January 3, 2009:

The first block was mined on January 3, 2009. It was,” Block 0, the genesis block, is established at 18:15:05 GMT.

January 9, 2009:

Version 0.1 released. It includes the generation system which creates 21Million bitcoins through 2040.

January 12, 2009:

Version 0.1 of bitcoin released on this date. Compiled

with Microsoft visual studio for windows. In which, bitcoin generation system will generate 21Million bitcoin through the year 2040. In addition, at the end of this year, on 16 December 2009, 0.2 version of bitcoin released. Whereas, 0.3 version released on July 7, 2010.

0.3.13 version of bitcoin released on September 29, 2010.

A Brief Look at Bitcoin History – First Bitcoin Transaction:

First bitcoin transaction takes place between Satoshi and Hal Finney on 12 January 2009.

Born of currency exchange:

First bitcoin market established on 6 February 2010 by doing dollar as Bitcoin currency exchange.

10,000 BTC spent on pizza:

Florida programmer, Laszlo Hanyecz pay 10,000 bitcoins for pizza. That was the real-life transaction takes place in cryptography world.

Pool mins……:

On September 18, 2010, bitcoin pool mining was introduced. Furthermore, several users work together and enjoy the benefit together.

2013:

No doubt, the most important year of the bitcoin. This year, Bitcoin wrote its history. In 2013, its market capitalization reaches $1bn. China bans this technology first. But today, 80% of bitcoin transactions are processed in China and become the largest trader of Bitcoin in the world.

2014:

In 2014, first and most progressive treatment to bitcoin was held by HMRC. Who classified bitcoin as the asset or private money.

2015:

The biggest change comes from banks and industries. Most of the banks trying to change their infrastructure. Whereas, industry executives talking about Bitcoin and some of them do transactions.

2016:

Therefore, it is too early to tell you about the story of Bitcoin in 2016. It reaches heights and sometimes faces loses.

Future Prediction of Bitcoin:

As bitcoin reaches the price of gold, and compete with many more cryptocurrencies. Which makes its strength in the financial market. Looking at the Bitcoin value history, future can be easily predicted. And my prediction is that coming era is bitcoin era.

 

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How to secure your Bitcoin Wallets

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How to secure your Bitcoin Wallets

If you are going to do transactions through bitcoin, then you need a wallet. Without any wallet, you are unable to do that. For transactions purpose, you have to download or create secure bitcoin wallet address. The most important thing is, how you can secure your wallets from scams.

Wait …. Wait…

Here, we will discuss your wallet security but first, you have to know about wallets and types of it. Some of them are;

  1. Online bitcoin wallets
  2. Bitcoin hardware wallets
  3. Software wallets
  4. Paper wallets

Each wallet has its own characteristics. Like, you can do low-cost transactions by using online bitcoin wallet. i.e. COPAY available on IOS & on all windows. If you need to secure your transaction process you also can use bitcoin hardware wallets. i.e. ledger Nano, Trezor, OpenDime, etc. In addition, paper wallets are private keys printed from the offline computer.

Security terms for bitcoin wallets:

As, we know that, there is no middle authority to control the transaction process. The margin of risk at your end is too much high. Especially, when your transactions are in billions. At that point, you need crystal clear and transparent transaction system. I am here, to provide you complete detail about the security of your money. Because there are a large number of scams in the market.

Don’t be afraid, there are many secure ways for your money transactions. By keeping these points in mind, you can keep your spending habits private.

Keep separate wallet with strong password:

There are a large number of wallets/addresses for your bitcoin Then, to protect your wallets from scams, encrypt it with the strong password.

You can use paper wallet and hardware wallets for savings. Whereas, for daily expenses, use mobile, window wallets.

Protect your privacy:

you, then download the whole blockchain like bitcoin core or armory. Never ever tell your private key to anyone.  Bank account number is equitant to your wallet address, then, your private wallet key is your pin.

Don’t re-use the wallet addresses:

Today’s wallets use a new address for each transaction. Which makes the easy way to group transactions, difficult or totally insane decision of taking or re-use the address as in group transaction.

Backups:

Users of bitcoin should keep the backup of his/her wallets in the different form.

Instructions are depending on your client. For example, the desktop client is used to store your bitcoin wallets. In the case of fire or water damage, you need to keep your backups in separate physical form.  For extra protection of paper, wallets are to write in metal form.

Web wallets side effects:

There are more than 100 cases of hacking of bitcoin wallets. Web wallets should be used in daily spending. For the sake of saving bitcoins, you need cold storage.

Brain wallets:

These wallets are another example of cold storage wallet. Basically, it is the combination of numbers and words you keep in your brain. When you are going to enter passphrase into a site, you’ll get your private key.

Tags: Most secure Wallet

At the end…

Above all is the short discussion to secure bitcoin wallets address as well as bitcoin. Once you take the step in bitcoin revolution then it is not difficult to maintain its wallets.

GOOD LUCK!

 

 

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Cryptocurrency Trends: Are Crypto Prizes another scam?

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Nowadays, everyone is following the cryptocurrency trends, whether it’s the art world or the gaming world. Even some of the app developers have also jumped onto the trend of cryptocurrencies to attract people to their work.

Many gaming companies seem like they have found a technological link to the digital currency, which sets up as a prize for the market, globally. They can benefit from the publicity; however, they can also attract a huge audience with an attractive prize.

crypto prizes

Crypto Prizes in Digital Paintings

Artist Marguerite DeCourcelle hid Bitcoin prizes in digital paintings on literally three occasions for the public to discover them. When the key to the Bitcoin wallet was initially placed into the digital painting by DeCourcelle and her team, the wallet had almost 4.87 Bitcoins, which had the worth about $1,400 at that time.

Gaming Companies Hiding Cryptocurrency

Well, gaming companies are also doing their best to hide cryptocurrency in their games especially for those who get to the end first. Let’s take an example of Montecrypto: The Bitcoin Enigma! This game features a digital world player, solving 24 ‘enigmas’ to claim the last prize of 1 Bitcoin. The developers of this game are anonymous and they wish to remain the same ’til the prize is claimed. Another game is Neon District that is going to be launched soon and just like other crypto prizes games, it will have a crypto prize at the end.

Prizes are very commons especially when it comes to games. But, the attraction of Bitcoin has started to spread to the likes of paintings. So, what’s the appeal of joining a “Bitcoin-based prize” game in which someone can beat you quite easily? Well, the main reason behind it is that Bitcoin media comes with lots of hype and publicity.

Another Scam?

According to DeCourcelle,

DeCourcelle and her team have built up a respectable name in regards to this small, yet growing, aspect of cryptocurrency. But, at the same time, she admits that no matter whether a person or a company offers Bitcoin prizes, or ICOs (Initial Coin Offerings), reputation and trust is supreme.

She stated:

“We’re working on trustless systems that still rely heavily on trusting people based on social merit or reputation-based systems. Most ‘giveaways’ these days do not turn heads. In the old days, you could tweet – “1 Bitcoin for one lucky follower” and include a fancy gif. This doesn’t work anymore.”

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Should You Invest in Bitcoin In 2017 – Here Is What You Need to Know

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Should You Invest in Bitcoin

The year 2017 had a blistering start as Bitcoin ran past $1,000 check without any indications of backing off. The cryptocurrency continues developing in prevalence. Subsequently, you will see a colossal number of individuals asking: “how to invest in Bitcoin and is it even a smart thought to put your resources into the cryptocurrency?”

Bitcoin is not a company nor a brand. It is a virtual cash which just includes shared exchanges.

If you plan on investing in Bitcoin trading, you will need to opt for some unorthodox methods.

Here, we have talked about probably the most widely recognized Bitcoin investment techniques. Give each a strong read.

Bitcoin Investment – Buying and Holding:

A standout amongst the most widely recognized types of Bitcoin investments. Bitcoin clients purchase currency in the hoping for it to appreciate in value. If you plan on buying bitcoins, you must know when is the perfect time to make the purchase – implying that the value will keep on appreciating.

Here are a few tips for buying bitcoins:

  • Bitcoin is a hazardous venture. Never contribute more than you can deal with to lose.
  • Once you have purchased the coins, never abandon them at the trade. Exchange them to your wallet ASAP.
  • Buy the coins only from well-reputed exchange

check out our guide on how to buy bitcoins to learn more.

Trading in Bitcoin:

Individuals often confuse Bitcoin-trade and purchase and holding with each other. In reality, these two are completely different investment techniques. In trading, the purchaser buys the coins at lower rates and effectively tries to offer them at a higher cost, without holding back for value appreciation.

You Can Also Invest in Bitcoin Mining:

Bitcoin mining investment is just conceivable at a bigger scale. It requires costly mining gear and is only useful if somehow you have access to the free electricity.

Some websites also allow investors to make Bitcoin investments using their services. They call it “Cloud mining”. We recommend you to proceed with caution with such websites due to the following two reasons:

  • Most of them are scams and are keeping eyes just on your cash.

you will run over many organizations that welcome Bitcoin clients to put resources into their organization. These organizations claim to give you crazy day by day rewards or offer to two-fold your coins. Try not to get influenced. The vast majority of them are scams and are just there to take your cash.

So, What’s the Final Thought – Should You Invest in Bitcoin?

Well, the appropriate answer is not simply a “yes” or “no” as it’s not only about when to invest but also how to invest. In the event that you need to put resources into Bitcoin, know the procedure, instruct yourself, and do a broad statistical surveying.

Keep in mind, the final only belongs to you. When you think the time is correct, simply go ahead and make the venture.

Tags: Bitcoin Investment sites.

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What is the Real Value of a Bitcoin?

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In the past decade, Cryptocurrencies have become a revolution in the modern economy and banking system. It acts as an alternative currency which serves as a financial transaction database for the general public and the cryptocurrency which pave the way for this successful revolution is Bitcoin. Bitcoin was the first of its kind and introduced in 2009 and since then it serves as the digital gold standard in the whole cryptocurrency industry. The value of bitcoin has been increasing over the past decade and the value of bitcoin in future estimated to have upgradation after recognizing present rate of increment. The value of bitcoin has increased from 0 to 7300 dollars from its introduction in crypto industry.

value of bitcoin in future

  • Value as a Currency

Bitcoin has emerged as a new world currency over the past decade. It serves as a global way of payment. Usually, the currency system depends upon the country’s economy and a centralized banking system which check the exchange rates of the currency with the global stock exchange. But Bitcoin doesn’t need all. It doesn’t depend upon any banking system.

Nowadays Bitcoin is usually measured or exchanged in terms of American dollars or Japanese yen it means anyone can exchange bitcoin either in dollars or yen depending upon the rate of exchange in the global market which can be high or can be low as zero. The difference between the other currencies which are supported by the banking system and bitcoin is that it doesn’t require any banking structure for its exchange and can be exchanged for dollars and yens depending upon their values.

  • Value as an Investment

In the field of Finance, the investment is a term which generates a value that describes the sum of future revenues generated. Up till now, bitcoin doesn’t hold any type of present and future revenues so It can say that now Bitcoin as an investment has zero minimal value.

According to the famous businessman, Warren Buffet bitcoin cannot become an investment and it is a mirage. Buffet said the idea which has high inherent value is just a joke in his view and it will have a bad ending.

  • Bitcoin a New Gold

Sometimes Bitcoin is also referred to as a new gold due to its inability to generates revenues. The assets which don’t generate any revenue such as gold but the gold has minimal value because of the industrial use and the manufacture of industrial goods that has given gold a minimal value despite having no financial assistance. Bitcoin has been compared to gold over the years due to having low financial investment.

  • Bitcoin as a Ponzi Scheme

Bitcoin also termed as a Ponzi scheme, which is described by the fraud investment in which manager provides fabricated reports and try to lure the new investors into the reports so they invest in their project and generates revenue for the older investors.

The characteristics of Ponzi scheme is:

  1. Usage of verbal guises
  2. Encouragement of high return to the new investor that lure them to invest
  3. Not having solid assets ground
  4. Minimal withdrawal of money by providing new plans

In the end, it can be said that the Bitcoin has integrated a revolution in the modern currency and banking system and the value of bitcoin has proved its popularity among the people and made it a global way of payment. In the recent, the value of bitcoin in future will increase as the rate of increment in the present time and maybe it will become a new gold or a mode of investment.

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