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Everything about bitcoin

Bitcoin is a new cryptocurrency currency in the digital world. Transactions are made without a middle authority. Which means, no banks! No need of heavy fees for transactions. No need of central authority’s order to confirm the transaction and you are allowed to do transactions anonymously. This is the secure and legal way of transactions. Because the transaction is verified by the proper channel named blockchain. Who keeps the records of transaction and verify them through proper ways. Bitcoin is pretty much like cash for the Internet.

Who controls the Bitcoin network?

This is the network, nobody owns, Same like email technology. No one owns this technology. Bitcoin network is controlled by its users in all over the world. Developers are working on bitcoin services continuously, but they don’t have a right to interfere in transactions process. They even don’t have authority to create change in bitcoin protocol. Because users of this technology are free to use any software or version.

Who created Bitcoin?

Satoshi Nakamoto …….

A great silence. Still, the creator of this worldwide technology is unknown. 9-pages paper was released named,” bitcoin, peer-to-peer electronic cash system” in the last of 2008. From that day and today, bitcoin is number one cryptocurrency in the world. And, still, the inventor of this technology is a mystery.

Is Bitcoin worldwide technology?

There is a large number of bitcoin users in the world from different sectors. Includes the business transactions, buying and selling of good, restaurants start accepting bitcoin as a payment and much more. At the end of August 2013, bitcoin exceed with the US $ 1.5 billion with millions of dollars. US, Canada, China and most of the other countries start transactions by using bitcoin. Worldwide acceptance of this technology shows that the future of currency is bitcoin. Till 2017, more than 2-time bitcoin cross the value of the gold. This is the fact, and there is no comparison of gold and the bitcoin. Because of digital currency. The primary purpose of this comparison is, bitcoin’s value crossing the value of gold. This shocking fact has blown away everyone’s mind. As a result, bitcoin takes part in most of the international transactions.

 Acquiring bitcoin, is it simple? 

will make a sensible decision of transaction. A person is wise if he/she knows the value of a single bitcoin.  Either he/she is buyer or not.

Here, the question is, how acquire bitcoin?

How can we use it the for the transaction? and

Where do they come from?

Simple, you are interested in doing transactions via bitcoin. You will download software, make an address, choose a right and desired person for your transaction and send him/her a request. As, that person accept your request, create a business relation and exchange your needs with one another.

And, if you are going to buy or sell the goods. Do payments through US dollar or Euro, then exchange them into bitcoin.

You can also purchase bitcoin from bitcoin exchange

Purchasing of the bitcoin is not a big deal. Keep them save from scam’s eyes is an important fact. Technology anonymously uses in all sectors of the world. Once you will drop the catch…. Means you didn’t hold it again. Which, clearly means that you have to take decisions safely and wisely.

You also can earn bitcoin through mining.

What are the advantages of bitcoin?  

People don’t want to someone own them in their lives. They want to play hide and seek in real life, in daily routine. That is why they like the transactions through bitcoin.

There is complete freedom of payments. No bank holidays, no borders, no bureaucracy, no restrictions.fully control their money. Here, you can choose your desired fees for transactions.

Scams

While you are going to do transactions, be aware of scams.

Good luck!

Tags: Everything about Bitcoin, Bitcoin news.

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Bitcoin – puzzling rise of the bitcoin

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Bitcoin info: An insane rise in the value of the bitcoin is providing a new discussion to the technology world.

A number of people are really wondering about the origin of it, they are puzzled by this phenomenon? surprise how it is physical? how they withhold on it? how bitcoin works? or whether a new bubble like this, is on its way?

Whereas others count that the currency change brings the sans regulations.

If we look back, one Bitcoin was at the value of $0.003 in 2010. Whereas, its value in 2017 raises to $2500. Clearly, means that one bitcoin is equal to the 2500 US dollars. By multiplying the perspectives bitcoin’s value is 879,999 times.

 So, which thing people buy in actual????

On another side, people think about the hoarding of the bitcoins.

One of the trader’s point of view is, “Of course, you can spend bitcoins to purchase items at places where they are accepted. But a lot of traders are buying on speculation because the supply of bitcoin is limited”.
All we know that there is 21 million total supply of the bitcoins and 70% are mined already from the internet. And, a sharp increase of the bitcoin is associate it with “bubble” word.

Billionaire Mark Cuban already admit that it has a worth, it has a value in blockchain technology. And named it as a bubble early in this month.

Few of them relate this bitcoin hype to the “Tulipmania. A well-known episode in Dutch history 1636-1637.  Where the value of tulip bulb was pushed by the gamblers to rapid heights.

Unfortunately, the bubble burst and bulbs price crashed. The main reason for this crash was, no existence of the fundamental value of a bulb.

But, in the case of the bitcoin, you are free to spend your coin and get goods and services. This scope is continually expanding. Traders of the bitcoin are the well-wisher of this technology and claims that bitcoin’s attractiveness directly lies in its potential.

Furthermore, it is possible that fiat money also doesn’t have original value but it is controlled by the different sources. That is a reason for long-term investment.

Japanese government legalized the bitcoin, it is a live example that cryptocurrencies are making their ways into the mainstream.

Bitcoin is not only one cryptocurrency, which is available with the limited supply. In fact, there are more than 900 digital currencies available on the internet. Whereas, cryptocurrencies are basically decentralized digital money, which is not created by any government or central bank.

Additional tag: Bitcoin stock market

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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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Darknet Market Exit Scams – How Can You Avoid Them As A User?

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Darknet marketplaces are known to have accepted cryptocurrencies since quite some time now. With the majority of platforms accepting Bitcoin while others experimenting with Ethereum and Monero. However, the darknet markets are in for a bit of trouble as many portals are disappearing overnight in what’s being referred to as “exit scam.”

Here we’ve outlined three most recent incidents of to clear this point.

EVOLUTION:

The Evolution marketplace is one that made several headlines on the media, as it was one of the largest darknet marketplaces worldwide. In March 2015, over 40k bitcoins kept in escrow were stolen and they’ve never been retrieved ever since. The coins were worth around $12 million but no one is certain if they were stolen by the administrator or someone who hacked into the platform. Nonetheless, it is still one of the biggest exit scams since 2015.

OASIS:

Oasis is one of the first darknet markets to support payments made with Monero. Although, this portal went totally dark in 2016 when many users were scammed right before the platform vanished. The result was loss of at least 150 bitcoins while the amount of XMR was never disclosed. While everyone believed that Oasis could’ve been one of the main black markets on the deep web today.  Unfortunately, that was not the case which gives everyone on the darknet a warning when it comes to trusting such marketplaces.

EAST INDIA COMPANY:

With a reputation that was usually fluctuating, East India Company was known to be one infamous darknet market before it disappeared in early 2016. To start off with, it was hacked back in August 2015 and lost around 30 bitcoins. It did take them a while to get back on feet as the users gradually made their way back. It was in January 2016, when the platform became inaccessible for a few days, which lead to users having their wallets drained and no response from the admins. No one knows as to how much funds were stolen from the market but it was one of the biggest exit scams over the last couple of years.

Now, if you’re hesitant towards trusting a darknet market but are still curious to know more of the deep web then we’ve got a safer option for you.

A Solution Against Exit Scams – BERMUDA:

Opposite to all the aforementioned markets, Bermuda is there to stay. Despite of being relatively new in the darknet world, Bermuda has got all the attributes to provide the darknet users with a platform where everything – from kids’ toys to adults’ stuff, and prescriptions medications – is available.  Moreover, Bermuda is firmly against the sale of stuff such as:

  • Assassinations or any other services which may be intended to cause harm to others.
  • Live action stuff/hurt/murder audio/video/images
  • Weapons of mass destruction: chemical, biological, explosives, etc.
  • Child pornography
  • Weapons
  • Poisons

Trading a potion/all of the above-mentioned stuff is what primarily causes the law and enforcement to ban most the darknet markets. On the other hand, Bermuda has it stated in its market policy to never become part of any activity that promotes the prohibited stuff.

Now, one might think: “If Bermuda only deals in regular stuff, why go on the deep web? Why not just your normal browsers/search engines?”

Well, the majority of online buyers prefer to stay anonymous and buy the desired stuff without revealing their identity. But sadly, this is not possible on surface web marketplaces such as Amazon, eBay, etc. So, to achieve that anonymity, they head to dark marketplaces.

However, most the dark markets are involved in illegal trades in addition to selling the routine stuff and most of the time end up getting axed by the government. This ultimately leaves the clients with very limited and often inconsistent options.

Bermuda’s goal is to address this issue and provide dark-web users with a platform that won’t ever go down or get axed by the government so they have a marketplace on their fingertips every time they need to buy some stuff. Some of the key features of Bermuda are:

  • Payments through both Bitcoin and Fiat are available
  • Incredibly fast support
  • Disabled JavaScript and easy html5 design for an easy on-site navigation
  • Free vendor ships;

And much more! Visit the site at  http://bermudagslgcoamz.onion/ and get registered right now for an amazing dark market experience.

You can also put forward your queries to Bermuda through Reddit’s DM feature at /r/Bermudator.

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Last Time to Buy Bitcoin as “Unreliable Sources” from China Spook Markets

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A Chinese journalist published a new article saying that China is banning ICOs and exchanges. The news was a Google translated article from a Chinese Journalist who claimed to have spoken to some official. Since there is no confirmation from a government official and no formal statement of any sort has been released, we can say that this news is possibly fake.
As we all know, the last time China banned Bitcoin, they took it back just a few months after.

However, this news might just be doing everyone a favor as this is probably the last time you can buy bitcoin at such levels.

Don’t Forget…

Bitcoin will survive with or without China, they’ve changed their mind before and they can do it again.

 

News Credits: cointelegraph.com

Image Credits: bitcoinist.com

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