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Future of finance

On 14 august 2016, Swiss non-profit World Economic Forum conducts a study about bitcoin, the worldwide reputed currency. Of course, they accept bitcoins worth and assure that bitcoin is going to reshape the financial service including infrastructure.

Changing of infrastructure

With the supply of 21 million, bitcoin continually change the payment/ transaction system all over the world. Whereas, it already crosses the price of Gold and competes for Ethereum on daily biases.

Just imagine for a while that a country takes a risk of its financial sector by applying a new digital technology, it’s weird. In other words, it’s totally insane. In the same way, if people of any country get authority to change the weather, they can. That is why bitcoin asserts itself and largest countries of the world do investments through bitcoin. Countries including Sweden, Denmark, the United States of America, South Korea The Netherlands, Estonia, UK, Canada, Australia and much more do the heavy transaction through bitcoin.

It is basically a cryptocurrency and a payment system is using by the peoples of the world. Bitcoin was trending in 2013 between $10 to

$15 and then it exceeds to $1163 within the same year. Which means it grows day by day. A good software takes 10 years to get used to it. Whereas bitcoin was properly launched in 2009. Which means, this is the early age of the bitcoin.

Worldwide central banks are looking toward the bitcoin process of transactions between the countries. The study shows that up to 2040, currency may change its structure. And bitcoin is at the top of the list. Which allows doing transactions faster and more secure with low cost.

Financial sector

Bitcoin technology is going to directly affect the financial sector. No doubt, when you are adopting a new technology. You become, use of that technology. In the same way, bitcoin deals with the people in the transaction with low cost. They get more relax as compare to other cryptocurrencies. More than 80% banks are going to launch the new system regarding bitcoin.

If you know how to generate money, then you can easily maintain a good bitcoin account. It is an open transaction system, everybody can see the payment process.

As Bill Gates states about the future of finance,

in the future, financial services ltd will eventually “be digital, universal and almost free.” Bill Gates will push the Microsoft to use bitcoin in payment form or weave cryptocurrency in company’s nascent payments.

This thing is crystal clear that if people of any country get authorized, they can easily change the situation. They will use new technology, even use digital technology on their own behalf.

Tags: future finance company

Future of bitcoin finance

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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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The Right Time to Buy Bitcoin and Ethereum – Revealed!

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It has been about two months, hedge fund billionaire Michael Novogratz thru a brave announcement, he’d put 10% of his net wealth into cryptocurrencies with Bitcoin and Ethereum. But a very much could happen in a few days like the worth of Bitcoin has more than doubled, and the worth of Ethereum has increased six-fold.

So, around the time digital currencies touched all-time high earlier in June, by hitting the price of Bitcoin to $3000, and the worth of Ethereum breaking $400 these days. Novogratz believed that the recent crypto boom had topped out. He sold a lot of his digital coins.

Image Credits: newsbtc.com

“I sense the market had a great run, and trees don’t raise to the sky,” Novogratz spoke this week, talking at CBInsights’ in New York, “I have a lot fewer coins, they just value more,” Novogratz added.

Some days after setting highest, the price of Bitcoin and Ethereum fall down about 25% in just 24 hours, and Ethereum is still on falling.

Digital Currency dealers have become adapted to their prices aggressively doing push and pull, up and down in waves.  A 30% fall in the Bitcoin worth in May headed its current highest by about two weeks, but the recent downdraft seems more constant. However, the digital currency entrenched in a technology system identified as the blockchain, have individually since improved some of their losses, they have to drive anywhere near to their high.

Now, investment groups are investing in blockchain companies. They think that the digital currencies have peaked for some time, and it can be a while before they come back to the highest level. Novogratz still has a firm stance on cryptocurrencies and their performance in the longer run. The only thing he is waiting for is the right purchase time so he can start from where he left off.

Eventually, Novogratz has faith that there will be a time when stockholders are recovering off getting out of digital currencies entirely, However, it is almost a long way off. Novogratz predicted that “I think that Bitcoin, Blockchain, Ethereum, and ICO revolution is leading us to the single extreme bubble of our lifetime”. No doubt, when that bubble pops, it is possibly a perfect time to buy back in.

Story Credit: fortune.com

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Beginner’s Guide to Tor

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Just a couple years ago, Tor was something known only by tech-geeks. However, since leaks about the surveillance strategies of US and UK spies have arisen, Tor has become a target of criticism, accusations of promoting a “dark web” of pedophiles, drug dealers, and arms traders.

 

What is Tor?

The Tor project is a non-profit association that allowed users to browse the internet anonymously. It is intended to stop individuals – including government organizations and partnerships – from knowing of your location or learning about your browsing traditions.

The Tor network conceals your identity by moving your traffic across various Tor servers while encrypting the traffic. This makes it almost impossible for anybody to recognize the source of the data or region of the web client.

Tor’s software package, the Tor browser bundle can be downloaded easily and does not require any setup procedure. Although, you’ll experience a much slower internet than usual due to the number of relays your data goes through.

 

Who created Tor?

It was originally developed by the US Navy and received 60% of its funding from the State Departments and Department of Defense, along with several other backing bodies.

When it was initially launched in 2002, the project’s main focus was on securing every internet users’ privacy from corporations over governments.

Related: How to use Tor browser on iPhone

Who uses Tor?

Tor users fall into four main groups:

  • Normal users looking to just keep their browsing activities concealed from websites and advertisers
  • Cyber-spying concerned users that do not want their personal information to be tracked by any corporation.
  • Journalists and activists in countries with restrictions on the internet.
  • Whistleblowers can leak information to journalists while maintaining their privacy and having the freedom to express their true opinions.

 

The dark side                

Regardless of all its perks, everything has its drawbacks as well. It is important to be fully aware of what you click on while browsing with Tor. While many sites are socially acceptable or legal for that matter, others are known for having disturbing content. Stumbling upon such a web page showcasing criminal behavior or anything of that sort could land you in serious trouble.

Additionally, along with cloaking your identity Tor is also able to host websites, which means these sites are only accessible by people on the Tor network. These are known as criminal sites or in more obvious words “the dark web”.  The FBI and NSA have tracked down many of such sites, promoting disturbing content, drug purchases, illegal arms trading and much more.

Related: What are top 5 Proxies to access .Onion sites without Tor Browser?

What’s next?

We’re in an era of free-flowing data available to us with just a click of a button. Moreover, the internet is expanding on a daily basis and its depths are still unknown. With Tor becoming more widely used by internet users, the FBI and NSA have become more persistent in attempting to crack the network. In the end, it all depends on the user and for what activities they use Tor.

 

Image credits: i-novice.net

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Bitcoin balloons on overheated air

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Spotting bubbles have become a national passion after dot-come and the housing bubble burst in 2000 and 2008. Moreover, few year back investors use to spotted bubbles in gold, equities, credit, and bonds as well.

Here, I will not discuss b-word here to describe those investments. Accordingly, not even nominate any of them. I will give that division to digital currency named bitcoin and its brief Bitcoin Info.

Bitcoin has all characteristics of a bubble in making. First, it totally new. Second, a digital currency that allows the public to do transactions freely without any second party. Where the transactions are controlled by the proper network of computers.

British journalist Mike Dash in his book “Tulipmania” in 17th-century states; “It is impossible to comprehend the Tulipmania without understanding just how different tulips were from every other flower known to horticulturists in the 17th century.” Same sayings with the internet in the 1990s and about cryptocurrency today.

Second, bitcoin is something scary. Like, both parties took part in transaction process anonymously. Which is being the interest for scams, hackers, and criminals as well. Just like a mystery. Similarly, creator of the bitcoin goes by Satoshi Nakamoto, but it is totally unclear who that person is, or is that only one person?

It reminds the bubble in 1720 at the height of the England South Sea bubble, a company floated shares “For carrying-on an undertaking of great advantage but no-one to know what it is.” Definitely, investors do not stop investing in the company.

Third, the thing which makes the bitcoin susceptible is its value. An investment in Bitcoin gives the return of 351 percent annually inspection in July 2010 through Tuesday. To put that in standpoint, investment of $100 is equal to $3 million today. It’s totally an insane return from any investment like Bitcoin Battle.

Riding the wave

In 1720, a share price of the company South Sea rose up to 400 percent within three months and collapse quickly.

Digital gold

Bitcoin is not different from other commodities like gold, oil, vegetables etc. Nevertheless, government and currency market exchanges are standing behind the system. Whereas, with the commodities, investor hold the something at the end of the transaction process. However, bitcoin is something more speculative because it is a digital money.

This treatment is not only with all the investments. A shareholder is enabled to share the company’s assets, sale and purchase transactions. Same as bond’s payments of principle and interest.

This division of value allows many observers to warn that internet stock in the 1990s. In addition, during the housing bubble mortgage bonds were not safe. Similarly, this sort of statement is not possible about the bitcoin.

Good luck!

Tags: bitcoin investment trust

 

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Countries That Accept Bitcoin Having Soft/Strict Rules

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Countries that accept bitcoins

There are more than 500 cryptocurrencies in the world, but Bitcoin has dominant worth. In fact, some countries become the hub of this peer-to-peer digital currency. Here, this article is about the story of some countries, which country uses Bitcoin and who accept the Bitcoin and use it in payment transactions.

Countries that say yes to bitcoins

If a country going to introduce Bitcoin technology to its financial sector. Then, it clearly means that country is going toward the revolutionary situation. It would leave a strong impact on its all sectors and also on related countries.

Bitcoin accepted countries:

Canada

Canada becomes a bitcoin-friendly country, which ensures that Bitcoin cryptocurrency is not used for money laundering. Canadian authority makes it sure that transactions of Bitcoin are taken place under complete supervision. Canada revenue agency takes Bitcoin transactions as barter transaction. In addition, income generated from these transactions named business income.

Australia

Australia allows The Australian taxation office considers Bitcoin transaction as barter arrangement. Which means, Bitcoin transaction legally completes its process under specific rules and regulation.

Estonia   

A small nation, accept the Bitcoin digital currency. It has no history of jumping to new technology. whereas, its financial sector show interest to implement on Bitcoin technology.  They are going to use blockchain technology for healthcare, banking services and much more.

Denmark

Denmark is one of the developed countries in the world with living standard and with financial stand as well. Bitcoin will be used in all aspects. Whether in means of exchange or to the alternative to central banking monopoly. Danish bank declares that “Denmark is home to a number of Bitcoin startups and exchanges such as CCEDK, which has been a prolific innovator in the crypto-space with recent releases of Bitcoin “3.0” technology and decentralized exchange.”

Countries with strict rules

In the same way, countries which opposed Bitcoin first. Now, those countries have a dominant part in Bitcoin transactions. They utilize its advantages in their investment. The main reason behind the opposition was the anonymous conduction of transactions between two account holders. it may use in illegal dealings like buying drugs or weapons…

Whereas, in presence of all securities, countries accept the Bitcoin with strict rules. Here are some countries with strict rules.

USA

As the USA is considered as Bitcoin friendly country. Whereas, the government is trying to control Bitcoin transaction process. Same as with its traditional money. Incidentally, Bitcoin is peer-to-peer digital currency and never controlled by anyone or any authority. In that case, USA government generate some rules regarding Bitcoin.

Japan

In the same way, Japanese Financial service agency place regulations to Bitcoin exchanges. According to Motokazu Endo, Attorney of FSA,

“Cryptocurrencies’ prices fluctuate sharply, and they’re highly speculative. Many exchanges have the weak financial basis, and should they go bankrupt, it would be tough to protect creditors’ assets.”

At this point, if Japanese people want to buy bitcoin. Then, they have to pay 8% consumption tax. And this all transaction will be through Yens. Because bitcoins considered as imported goods.

China

In July 2016, China introduces a law named “civil right object” to the public. Chinese can buy and sell goods through Bitcoin under this law.

 

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