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AMF (Autorite des Marches Financiers) is a French stock market regulator and in a press release, they recently announced that on 15th March, 15 cryptocurrency websites have been blacklisted by them.

Blacklisted Companies

15 companies were blacklisted by press release, as these companies nonstop advertised and marketed their products and services to the French public as investment opportunities, even with the new regulations. Such businesses that illegitimately offered investments in commodities such as; diamonds and other metals are also in this blacklist.

cryptocurrency websites

Press Release Statement

According to the press release;

“The investment proposals highlighting the possibility of financial returns or similar economic effects involve intermediation in miscellaneous assets and are now subject to ex-ante control by the AMF. Consequently, no offer can be directly marketed in France without prior allocation by the AMF of a registration number.”

This statement also reminds customers that high profits always include high risks so; advertising materials shouldn’t make you overlook that fact. Moreover, it suggested its customers to work hard enough before making any investment, and get knowledge about their company as much as possible. They also advised their customers to invest in a product only if they completely understand it.

Last year, Francois Villeroy de Galhau (Governor of the Bank of France), issued a warning in December and claimed that Bitcoin is a speculative asset, and there are high risks of investing in it, unlike other digital currencies. French regulators this move follows an array of apprehensive attitudes toward cryptocurrencies from the French government.

Jean-Pierre Landau’s Views

Jean-Pierre Landau is an open Bitcoin critic and in January, he was appointed by the French Minister of the Economy, to assign a task of examining cryptocurrency regulation. Landau sometimes calls Bitcoin the “tulips of modern times” referring it to Tulip Mania, as in 17th century, Europe was flounced by it.

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Bitcoin Sky-rockets above $4,400 – Sets new all-time high

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Just about a week ago, the cryptocurrency’s value was around $3,382 however, it gained a little over 30% and stood at $4,111 until Sunday, August 14.

On August 15, global exchanges experienced another $200 gain, rising to $4382 from $4,111 just a day ago. This movement is created from the sudden interest shown by new investors and analysts.

Investment managers and experts are now not only following the digital currency, but licensed financial specialists have put about $200 million in an initial coin offering (ICO) for a blockchain network known as filecoin a week ago, a project that targets at making a distributed protocol for file storage.

Additionally, with information from Coinmarketcap demonstrating the digital currencies are currently esteemed at $141 billion, a rise of about 20 percent from $118 billion a week ago.

 

News credits: coindesk.com

Image credits: dailyreckoning.com

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How China & Japan Helped Drive Cryptocurrencies’ Price to Rise?

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Digital currencies such as Bitcoin, Ripple, and Ethereum have been soaring pretty high over the past few months. According to the latest estimates:

  • Bitcoin currently stands at $2588 per BTC
  • Ripple has hit the market cap of $10 billion
  • Ethereum has reached a total market cap of around $20 billion.

This incredible growth in value is the outcome of efforts put in by two countries – China and Japan.

CHINA:

China has been leading the Bitcoin market for the last couple of years. The Chinese mining pools are in charge of 60% of the Bitcoin network’s hash rate. Also, with a cheap electricity and access to proper hardware, China provides the ideal ground for digital mining.

However, in February 2017, three of China’s biggest Bitcoin exchanges suspended all withdrawals due to increased concerns over money laundering and capital flight. BTC China, Huobi, and OKCoin declared in separate statements that they will lift the suspension after the proper implementation of new guidelines set by the Central Bank.

Luckily, during June, there was an announcement that the self-imposed halt on withdrawals by Bitcoin exchanges was no more in place. The news took China by storm. The citizens responded with complete enthusiasm, assuring that they have complete confidence in digital currencies.

JAPAN:

While China was on a halt in the beginning of the year, Japan took Bitcoin to an entirely new level. Towards the start, Japan barely took up 1% of the total Bitcoin market in trading volume. However, that soon changed as Japan now holds at least 6% of trading volume at the moment.

Moreover, Japan has entirely eliminated the tax on Bitcoin and other cryptocurrencies, a move which will ultimately increase the trading activities within the Japanese exchange market. The main aim behind this move was to ensure that all transactions take place without having to deal with any external factors such as taxes. Now, Bitcoin traders and businesses can run smoothly and easily access cryptocurrencies in the country.

Furthermore, Large institutions in Japan have now begun to accept Bitcoin as a payment option. Japan’s largest exchange, bitFlyer, now has the backing of all of Japan’s megabanks: MUFJ, Mizuho, and SMBC. In addition, Bic Camera, a very popular retailer, has paired with bitFlyer to accept Bitcoin at all of its locations. As the acceptance of digital currencies by influential retailers increases, the Japanese have begun to trust digital currencies for daily transactions.

Both the Chinese and Japanese, are responsible for boosting Bitcoin’s value to new heights.

Acceptance by The Government:

The Japanese Government is determined to provide their business community with a proper secure environment, where they are able to easily access cryptocurrencies and conduct trading activities. They’ve already assured that all their retail stores are well-equipped with the right security systems to prevent money laundering and fraudulent transactions from happening.

Ultimately, both governments are driving the cryptocurrency’s growth off the charts, with China in plans of designing and launching its own currency and Japan legally classifying Bitcoin a form of payment.

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How to Confidently Take Part in Bitcoin Revolution?

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Confidently take part in bitcoin revolution

Bitcoin is the most renowned cryptocurrency today. From 2009 to 2017, just within a few years, Bitcoin has largely asserted itself as the richest people of the world are now showing great support for the currency. It clears that this century belongs to Bitcoin. Now, the question arises, how to take part in Bitcoin revolution. There are more than 100 different ways to join this blockchain revolution.  We will discuss only a few of them here. Before the discussion, let me tell you some important points, which you have to keep in mind during Bitcoin’s ride:

  1. Briefly, explain about Bitcoin to others.
  2. Create transactions by buying Bitcoin.
  3. Acquiring bitcoins.
  4. Do transactions through Bitcoin.
  5. Setup your Bitcoin wallet address.
  6. Tell about Bitcoin revolution confidently. In addition, completely guide them about how they can use secure and transparent transaction system.
  7. Tell them the difference between the currency and Bitcoin.

Now, let’s start a ride to Bitcoin revolution.

1. Acquire Bitcoin:

If you want to acquire bitcoin, there are three ways users by users.

Accept Bitcoin Payments:

Through merchant, solutions get start to accepting Bitcoin payments. There are more than 100,000 retailers who accept the bitcoin as a payment. These retailers hold high-profile business like Amazon, Tesla, Microsoft

Bitcoin Mining:

Bitcoin mining is same like gold mining. Gold mining is in hardware services whereas Bitcoin mining is done on the Bitcoin network. So what do you conclude; Tools for Bitcoin mining are gold pans or buckets?

No, Bitcoin tools include a powerful PC and specialized software. You can easily mine Bitcoin by solving the complex math puzzle. When miners successfully solve the puzzle, they get the reward of 25 bitcoins which becomes half every four years.

Purchasing Bitcoin:

Now, you have to purchase Bitcoin using cash from Bitcoin exchange and after that, your Bitcoin wallet.

2. Engaged in Bitcoin Services:

The venture capitalist Tim Draper says, “Bitcoin world is this new ecosystem where it doesn’t cost that much to start a new Bitcoin company. It doesn’t cost much to start owning Bitcoin either, and it is a much more efficient way of moving money around the world.”

The most desirable aspect of Bitcoin is to start your own business with low cost.

If you have no idea how to start and where to start with Bitcoin. Then observe the current performance of expertise of Bitcoin.

Bitcoin payment processors and digital or hardware wallet services are used for this purpose.

3. Provide Solutions for Acceptance:

If you can create a way to convince non-users to use Bitcoin, you are onto the winner.

4. Leverage Blockchain Technology:

For many financial institutions, the blockchain recording system holds promise as a secure, improved and transparent method to speed up transactions, cut costs, and eliminate fraud. Because of this, organizations are looking for ways to leverage blockchain technology for their own businesses.

5. Invest in Bitcoin:

Bitcoin is limited in number – 21 million to be precise. So, being an investor, you must know that increase in demand leads to the limited supply, hence the higher prices. If you are looking for a long-term solution for your financial problems, investing in Bitcoin is the best way.

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Bitcoin Mining Calculator 2017 – Interesting Information About Mining Calculator

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Easy bitcoin mining calculator

It’s really simple to use a Bitcoin mining calculator. There are only two main instructions that you need to follow:

  1. Enter the hash rate
  2. Click to mining revenue

Do these and you will have your desired calculations with an accurate result while using a Bitcoin calculator. However, there is one important thing to remember while performing calculations: The revenue will be in USD, based on current exchange rate. The exchange rate varies from time to time and so does the revenue difficulty.

Some other points to remember are:

You Have to Calculate Profitability:

Bitcoin mining has secured the bitcoin world. Without miners, you would not be able to do any transaction happily. In that sense, miners pay for their services and mine the blocks. If miner successfully mined a block, there is a reward on each block in the form of Bitcoin.

Easily run a profitable mining farm.

Mining Hardware:

While going to purchase bitcoin mining hardware you must look the at metrics called hash rate. If a hash rate is high, it means your miner is more powerful. To calculate the amount of hash power per month, you can use the mining calculator. However, it may be costly for a new mining farm.

Just like you want to earn more, the hardware will become more expensive. Antminer S7 mines $200 bitcoins per month and costs $629. And this is just the hardware cost. The costs of electricity and equipment are not included.

For profitable mining operation with low W/GH with good hash, power is the better option for your profitability. Antminer S7 is also considered the most efficient miner with 0.25 W/GH.

During the mining process, the miners emit large amounts of heat, so you will need cooling fans and power supplies to keep the temperature under control.

Other Expenses:

Mining operation completely depends on electricity. 60% of Bitcoin network’s hashing power is located in China because of cheap electricity.

Miners in cold areas are more profitable because there is no extra need for cooling fans. It removes the heating cost and keeps the houses warm during winter.

Hash Power and Difficulties:

It is difficult to know about the difficulty months in advance. Network and hash power are external factors and vary from time to time.

Instead of stressing out, concentrate and give complete attention to understanding the more efficient idea of mining technology and the hash rate.

Block Reward and Price:

Bitcoin price is a factor you can’t control. Price fluctuation is important so keep yourself up to date and prepared for these fluctuations.

On the other hand, the reward is a predictable factor. It started from 50 bitcoins per block, then 25 BTC per block, and in July 2016, it was halved to 12.5 bitcoins per block. The reward takes place every four years. This means the halving will be taking place in 2020.

Calculators:

Use of bitcoin profit calculator keeps you updated with hardware and electricity costs. This will give you the better idea how to decrease the possibilities of mining difficulty and Bitcoin price.

Wishing you good luck!

 

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