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European Commissioner, Mariya Gabriel, has confirmed that European Commission is going to pay attention to the growing electricity consumption in the European Union, for the cryptocurrency miming, as she supervises and manages digital economy and the social order. A notice was posted on the European Parliament website and according to that notice, this issue was addressed by Gabriel in response to a question that was presented in the parliament.

The Issue of Power Consumption

Gabriel mentioned, that the Commission is well-aware of the issues like growing electricity consumption for cryptocurrencies and blockchain technology. This issue is going to be perilous, especially for bitcoin, as the cryptocurrency mining is intense in China. Whereas, according to some estimates, two-third of entire mining takes place in China, and some of the mining is done in other places.

The statement also noted that no legal basis is there to avert or limit energy consumed inside the EU at this time. However, specifying that electrical consumption is an economic movement, it is an issue for EU regulations that also apply to energy proficiency, greenhouse gas emissions and the power sector. The cryptocurrency mining business model is based on providing a high assessment of cryptocurrencies. The growing electricity consumption and the price, both are expected to alter the demand and worth for cryptocurrencies.

Mining Isn’t Illegal

The Commission didn’t invoke in any way to follow the cryptocurrency mining since, it’s not an illegitimate activity. Though, the activity will be reviewed by the Commission as it has an impact on the demand for energy. Gabriel further stated that it’s always essential to keep this thing in your mind that many auspicious applications of blockchain technology usually don’t have an extreme need for processing power.


Christine Lagarde, Managing Director at International Monetary Fund, told in January that bitcoin mining is way too much energy intensive. It’s been warned by many environmentalists’ and analysts that the world is already battling with the climate change and that’s why industry’s power usage has turned in to such a huge concern.

EU Plans to Establish Blockchain

Last year, few plans were announced by the European Commission to launch an EU Blockchain Observatory as a response to a mandate of European Parliament for strengthening technical proficiency and governing bulk. In this project, an observatory and a forum will be included to collect the information from the blockchain technology and distributed ledger technology. Their main aim is to launch an EU expertise source for progressive blockchain subjects. The other goal is to contribute the EC for boosting the creation of technologies like these and to advance policy endorsements.

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Thinking of Investing in Bitcoin? You Need to Read This First

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Are you fascinated by the incredible rise of Bitcoin? Are you planning on making a Bitcoin investment but always hold due to the lack of essential insight? Then you have come to the right place. Here we have discussed the paramount factors that – as a potential Bitcoin investor – you will need to know.

The particulars we have covered here include:

Why Is Bitcoin Suddenly Gaining Worldwide Popularity?

Ever since the internet took over our lives, everything is becoming more and more reliant on it. And to make online transactions, we needed a currency that was more secure and less exposed to theft.

Several digital currencies tried to claim that spot, but Bitcoin is the only one that emerged as the victor.

The reason behind Bitcoin being the primary mode of online transactions is the security, reliability and complete anonymity that it gives to users.

Bitcoin is open to everyone and is not tied to a particular country; which makes it quite an exciting investment opportunity.

Why Invest in Bitcoin?

A bitcoin is worth well over a thousand USD. It may sound silly to some people but this is what the truth is.

Let’s take an example of gold to understand why bitcoin investment is a good idea.

Gold reserves on our planet are in a limited. The more we mine, the less is left and it becomes harder and costlier to find and mine.

Same is the case with bitcoins. They are finite and become harder to mine over time. Here are some key reasons as to why you should invest in bitcoins.

  • The monitory policy is predictable and can be verified by anyone.
  • Due to this predictability, it becomes possible to know how many bitcoins are in circulation and when new coins are created.
  • They can be transferred to any part of the world without government restrictions.
  • More corporations are starting to accept bitcoin as a form of payment.
  • If you understand Bitcoin, you would know that future belongs to this virtual currency.

When Is the Right Time to Buy Bitcoin?

As with any market, nothing is for sure. Throughout its history, Bitcoin has generally skyrocketed in value, followed minor, steady downfall until it settles.

If you want to understand current market trends and risks involved in the investment, go with the tools like Cryptowatch and Bitcoin Wisdom. These tools help you analyze charts and understand the price history of cryptocurrency.

Lastly, How to Secure Bitcoins?

As with anything valuable, thieves, con artists, and hackers are after your coins, so it’s necessary to keep them secured. But the question is, how to do so?

To gain maximum security, keep your coins in trustworthy wallets, such as Trezor and Ledger Nano S.

  • Trezor – it’s an offline wallet that generates private keys offline to keep your assets secure.
  • Ledger Nano S – a Bitcoin security company. Ledger Nano S offers a wide range of Bitcoin wallet addresss, and the wallets associated with this company are considered to be one of the safest out there.

You can discover more about these wallets on their official sites.

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Top 5 Intriguing Bitcoin Conspiracy Theories

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We’re surrounded by all sorts of mysteries that are yet to be solved but, the biggest one yet is how the cryptocurrency king, Bitcoin, was created and why. Keeping that in mind, there have been various bitcoin conspiracy theories on the internet. Here are some of the ones that seem more legitimate than others.


  1. JPMorgan Was The Reason Behind The MT. Gox Collapse

It’s a fact that organizations such as JPMorgan don’t see much profit in bitcoin but, they’re all in for the technology that lies behind it. Mt. Gox drove bitcoin’s value to higher limits, while JP Morgan composed a price crash by selling over 8000 coins to drive the price back down.

Parallelly, JPMorgan was funding anti-bitcoin articles teamed up with mainstream media firms. To tell you the truth, all these concepts, do sound quite reasonable, however, it seems unreal to think that such an institution would intentionally crash the bitcoin price.

  1. Satoshi to Bitcoin Said To Be An AI

Has it ever occurred to you that Satoshi Nakamoto could be an artificial intelligence? Well, considering that the world has been on several hunts as to find out the persona behind the pseudonym that no one can actually think that it might be an AI created by a hidden government. While this theory does seem a little far off, it spurs up some really exciting discussions.

  1. China Invented Bitcoin:

Many seem to believe that the Chinese created Bitcoin as to wipe out their dependence on the US dollar. While it is a fact that China has been working with Russia and others to create a payment system, it is doubtful they would create bitcoin to substitute the US Dollar.

  1. Bitcoin Is A NSA Project:

This is a theory that has been quite popular on the web that how bitcoin was created as an experiment by the NSA. Claiming that Satoshi Nakamoto is actually a pseudonym behind the top-secret cryptocurrency project. Also, it is said that the NSA has access to the SHA-256 algorithm, which makes bitcoin a lot less secure than what it’s assumed to be.


  1. Major Governments Partake In Bitcoins “Arms” Race:

In 2013, a conspiracy theory had risen from the Bitcointalk forums. A user came up with the concept that major governments like US and China were buying bitcoins in bulk for themselves. Let’s not forget both these governments had first opposed the cryptocurrency when it emerged, which makes this theory quite believable.

Tags: Satoshi to Bitcoin converter


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Altcoin – Top 5 Altcoin Zoo with Animal Mascots

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Did you ever think about that how many currencies in the crypto market are using animals as their mascots??? Well, I don’t think so.

Today’s article is about top five altcoins with animals – by the way, all mammalian as mascots. Few coins are still active, whereas others are either past or resting at the pet mausoleum.


Dogs are the well-known devoted animal to humans. Nearly everyone has dogs as a pet. So, we will start with Dogecoin. In addition, this coin’s mascots are a specific dog – it is a doge, a Japanese Shiba Inu named Kabosu based actual meme dog.

Doge – a dog, not only a coin – became common in 2013. But, now no need to describe it more. Nonetheless, if you were living under last four years: the meme is a Shiba Inu picture with captions. These captions are decisively grammatically inappropriate. And, are assumed to reproduce the dog’s thoughts. Isn’t scary and such insecure, for example.

At the end of this year, Dogecoin was launched as Joke currency. This idea was belonging to the Billy Markus from Portland Oregon. Joke currency or not? but Dogecoin is still alive with the market cap of $344million.


A dolphin wearing glasses and a top hat. We know dolphins are intelligent and vastly social animal around the world. They have friendly nature and also trained to save lives of some people.

Basically, TrueFlip is a worldwide famous platform where you are allowed to buy tickets and win prizes in digital currencies.

Bitcoin blocks random hashes are openly used to draw some numbers for lottery and code used to run the game. This firm’s aim is to become world’s popular blockchain lottery. If this occurs, its jackpot would be high as $8 million worth of Bitcoin or maybe more.


We have another meme coin and this is Nyancoin, created on Nyan cat meme, an archenemy of dogs.

Nyan cat was turned to crypto-market early in 2014. Moreover, this word was derived from the Japanese word for cat’s meow. After a long relaxed, Nyan comeback this April with the market cap $394,000.


So, we are moving toward China now. Where we find big fluffy Pandas, who became the mascot. PandaCoin was launched on 14 February 2014, and now its market cap is around $1.5 million.


Fine, NeuCoin is a newbie to the world of altcoin exchanges. A blue squirrel NeuCoin’s mascot was belly up in late 2016. Just like a quick and small animal, the squirrel needs strong effort for effective ICO, who has a direct focus on tipping and micropayments. NeuCoin combined two games on one platform Facebook: Solitaire Racer and SongQuest.

So, Who’s next?

After the research, we can say that altcoin with animal mascots are on the way of fame. It is depending on the acceptance of the coin among the community.


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What Is Bitcoin Hard Fork? The Most Intriguing Bitcoin Topic Explained!

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To begin with, Bitcoin has been the talk of every news channel, tabloid, website, etc. for a long while now. It’s increasing popularity might’ve caused a little problem for the network. Bitcoin is in a messy situation right now and something needs to be done. Fortunately, two possible solutions have been proposed as well, but only one can exist.

What is Bitcoin Hard Fork?

It is a compulsory software update that is required in order for the program to function.  It can be implemented to fix bug errors or any security issues present in the older version of the software. Also, a hard fork is irreversible.

The “hard fork” will split the blockchain, leading to the introduction of a new chain of transactions branching from the original one.

Bitcoin Fork Explained – What’s The Issue?

In simple words, Bitcoin is unable to withstand the number of transactions taking place on the network.

The technical explanation is that the 1MB block size limit which is programmed into the system has become a problem and is causing delays in the processing of transactions. Basically, a purchase can take from a few minutes to hours to confirm.

Two techniques were proposed, which result in two different solutions: Bitcoin Unlimited, and Segregated Witness. They’re both proposed software updates to the Bitcoin network with the aim to completely change the way Bitcoin functions.

Obviously, the two can’t coexist, that would “fork” the Bitcoin network – splitting it into two different digital currencies.

fork is known as a software update. Basically, updating a program from an old version to a new one to fork bitcoin.

Bitcoin Unlimited:

Starting off with Bitcoin Unlimited, this proposal is favored majorly by Bitcoin miners. To understand this, you must know the concept of Bitcoin mining. Bitcoin miners use specified powerful computers to solve complex mathematical algorithms in order to verify a transaction and be rewarded with newly issued bitcoins.

We are aware that there is a built-in block size limit of 1MB in the Bitcoin network, however, BU gives miners the permission to vote on increasing the block size whenever they want. This gives them control of the Bitcoin network, due to which they’re favored by miners.

Segregated Witness:

On the other hand, SegWit is being voted by many Bitcoin enthusiasts and developers. Their aim is to optimize the Bitcoin coding in a way that allows them to decrease the transaction size and increase the transaction volume, all while sticking to the 1MB block limit. They suggest the use of a soft fork.

A soft fork is a software update that lets the network to adapt to the new functionalities and features implemented. The update doesn’t interfere with the existing software and the older version will still be usable.

When is Bitcoin Hard Fork Happening?

Every Bitcoin user around the world is anxiously waiting for August 1st– a day that will mark the history of bitcoin. No one really knows what to expect but we are all eager to know what will be the fate of Bitcoin. We’re approximately 2 weeks away from the big day so let’s reflect back on the possible end result.

On 31st July, the activation of SegWit2x is set to take place. SegWit2x is a proposal that will enact SegWit through a Soft Fork but will increase its block-size limit by Hard Fork after three months. So, basically, SegWit2x will be introducing Segregated Witness first which will follow a 2MB block-size increase three months later.

Moreover, SegWit2x has the support of major mining pools which means it’s backed up by miners.

What Will Be The Bitcoin Hard Fork Consequences?

When the 2MB hard fork is scheduled to be introduced, there are chances of a chain split to occur cause of the soft fork. This, in return, would lead some part of the community jumping on to SegWit2x while others remain on SegWit.

This can create a very messy situation as there would be two different kinds of Bitcoin present. The last thing we’d want is to damage Bitcoin, particularly since there are high chances of two competitor blockchains existing simultaneously.

What Should I Do in Order To Prepare For August 1st?

You’re advised to move your bitcoins to a private wallet, where you solely are in charge of your private keys. Also, be sure to do this before July 31st, and remain until storm calms down. We are not aware of what is in store for us on August 1st or the day after, and the future is a total blur. So, let’s sit back and watch the calendar hit August.

Who Will Be The Winner?

Aha! Too bad we can’t answer this question because half the community goes for SegWit and the other half for BU. There’s not really much we can do, just voice out our opinion and educate others with whatever we learn and maybe help them come up with opinions of their own.

We’ll just have to patiently wait and watch how this turns out.

I’d like to point out that I have a very limited technical knowledge and only know my way around a few technical terminologies. This post is a compilation of weeks of research that I’ve put together myself. So, if you do find any errors, do let me know in the comment section below and I’ll be sure to check.

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Exceed of $1M in bitcoin transaction within two months

Want create site? Find Free WordPress Themes and plugins., 5 march 2017, overstock noticed one thing after acceptance of bitcoin, that is, people want to use bitcoin for their transaction. Chairman of overstock states, “We did not expect to hit this milestone so quickly, “and “Bitcoin customers are good customers, and we’re pleased to provide them this service.”

About overstock

Overstock is American’s largest internet headquarter. On January 9, 2014, bitcoin became the major retailer, who accept the bitcoin as a payment of its goods. First day sales through bitcoin was USD$ 126,000,

4.33% increase in sales. Whereas, per day sales calculates is $3 million per day.

Powerful transactions

In early January, overstock starts its working to process the payment and handle the conversion of bitcoin into U.S dollars. As a result, 4300 customers pay $1M for bitcoin payments. 60% of customer were new on

Bitcoin transactions have a long way. Retailer’s financial statement indicates $397.6 million revenue during its fourth quarter. Just because of this news, overstock trading rises up to 4%.

This was basically an experiment, but with the result, overstock is happy with its decision.

Strangely enough, with the support of bitcoin ecosystem, overstock see significant gains with no drawbacks.


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